Do Well
Foundation
Limited
Unaudited Annual Report and
Financial Statements
31 December 2021
Company Registration NuTnbÈr
4131417 (England and Walesl
Charity Registration Number
1088997

Contents
Reports
Reference and administrative information
Trustees, report
Report of the independent examiner
Flnanclal statements
ststemenl of financial activities
Balance sheet
Principal accounting policies
10
Notes to the financial statements
13
Do Well Foundation Limited

Reference and administrative information
Trustees
A Foreman
JEMShaw
JLEBarton
Lady Dalmeny
Lord Dalmeny
Company secretary
R A Cassell
Registered office
Do Well Foundation Limited
76 Bishops Road
London
SW67AR
Telephone
020 7246 5800
Company registration number
4131417 IEngland and Wales)
Charity registration number
1086997
Independent examlner
Buzzacotl LLP
130 Wood Street
London
EC2V 6DL
Banker
HSBC Bank plc
799 Fulham Road
London
SW6 5HF
Solicitor
Bryan Cave
33 Cannon Street
London
EC4M STE
Do Well Foundation Limited

Trustees. report 31 December 2021
The trustees present their slatulory report together with the financial statements of Do Well
FoLJndation Limited Ithe charilyl for the year ended 31 December 2021.
The report has been prepared in accordance with Part 8 of the Charities Act 2011 and equates
lo a directors, report for the purposes of company legislation.
The financial statements have been prepared in accordance with the accounting policies set
out on page 10 10 12 of the attached financial statements and comply with the charitsble
company's memorandum and articles of association and Accounting and Reporting by
Charities.. Statement of Recommended Practice applicable lo charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the United
Kingdom and Republic of Ireland IFRS 1021.
GOVERNANCE, STRUCTURE AND MANAGEMENT
Constitution and background
The Delawa￿ Do Well Foundation was created in the USA by Amanda Foreman, Jonathan
Barton and Frank Wallis. Amanda Foreman is a best-selling biographer.
The Do Well Foundation Limited was incorporated on 20 December 2000 and registered with
the Charity Commission on 12 June 2001. The charity is owned by the Delaware Do Well
Foundation. The Charity Registration Number is 1086997.
Organisation
The trustees who have served during the year are set out on page 1.
The trustees constitute directors of the charity for the purposes of the Companies Act 2006.
The trustees have the power to appoint a new trustee. Training is provided as required.
No Iruslee received any remuneration or reimbursement of expenses from the charity during
the year.
Statamont of trustees, rgsponsibilitios
The trustees (who are also directors of the charitable company for the purposes of company
lawl are responsible for preparing the trustees, report and financial statements in accordance
with applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Accepted Accounting Praclicel.
Do Well Foundation Limited

Trustees. report 31 December 2021
GOVERNANCE, STRUCTURE AND MANAGEMENT IconlinLJedl
Statement of trustees, responsibilities Icontinuedl
Company law requires the Iruslees to prepare financial statements for each financial year
which give a true and fair view of the stale of affairs of the charitable company and of the
income and expenditure of the charitable company.
In preparing these financial statements, the trustees are required lo=
• select suitable accounting policies and then apply them consistently.,
• observe the methods and principles in Accounting and Reporting by Charities.. Statement
of Recommended Practice ISORPI applicable lo charities preparing their accounts in
accordance with the Financial Reporting Standard applicable to the United Kingdom and
Republic of Ireland IFRS 1021.,
• make judgements and estimates that are reasonable and prudent.,
+ stale whether applicable United Kingdom Accounting Standards have been followed,
subject lo any material departures disclosed and explained in the financial slalements.,
and
+ 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 2006. They 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.
The above report has been prepared in accordance with the special provisions of Part 15 of
the Companies Act 2006 relating lo small companies.
Key management personnel
The charity has no employees. The trustees comprise the key management personnel. The
trustees do not receive remLJneration.
Risk management
The principal risks faced by the charity are financial sustainability and investment
management. The trustees monitor these key risks by regular reviews of the charity's
available cash resources and changes in the market value of ils primary asset, an investment
property.
Do Well Foundation Limited

Trustees. report 31 December 2021
OBJECTIVES AND ACTIVITIES
Prlnclpal alms and charltable objectlves
The objects of the charitable company, as contained in ils memorandum of association, are
lo make grants for such charitable, literary and educational purposes as are exclusively
charitable under the laws of England and Wales.
Activities
The charitable company is wholly owned by the Delaware Do Well Foundation (the
FoLJndationl, a US tax exempl charitable organisation, and was founded lo cary out the work
of that entity in the UK.
The charitable company derives the majority of ils income from two principal sources..
donations from the trustees and income generated by the investment propety. During the
year ended 31 December 2021 donations of £27,80512020 - £10,000> were received from
Iruslees and the investment property generated rental income of £3,600 {2020 - £3,600).
The charitable company made £18,161 grants in the year 12020 £nill paid to House of
SpeakEasy Foundation, Inc, a not-for-profil institution founded in the United Stales.
Related parties
The investment property is occupied by a relative of Jonathan Barton, one of the trustees,
and the rental income is paid by Jonathan Barton on behalf of his relative. Amounts owed lo
the charity by Jonathan Barton are disclosed in note 12.
The House of SpeakEasy Foundation was co-founded by Amanda Foreman. Jonathan Barton
and Amanda Foreman are both directors of the Foundation.
Grant maklng pollcy
The trustees are responsible for deciding UFX)n the allocation of grants and donations and aim
lo support primarily literary and educational charitable entities.
When setting the objectives and planning the work of the charitable company for the year, the
trustees have given careful consideration to the Charity Commission's general guidance on
public benefit and, where relevant, its supplementary guidance.
Do Well Foundation Limited

Trustees. report 31 December 2021
FINANCIAL REVIEW
Review of the year
The income and expenditure of the charitable company for the year lo 31 December 2021 are
disclosed on page 8.
Total income for the year amounted lo £31,788 {2020 £13,608). Total expenditure in the
year amounted lo £29,559 12020 £7,037) and the charity realised £283 gains on current
asset investment sales12020 - £nill- The charity generated a surplus for the year of £2,054
12020- surplus of £6,571).
Total nel assets al 31 December 2021 amounted lo £212,670 {2020- £210.6161.
Reserves policy
As explained above, the charitable company gives grants and donations and aims to support
primarily literary and educational charitable entities.
The trustees have examined the requirement for free reserves i.e., those unrestricted funds
not designated for specific purposes or otherwise committed. The trustees consider that,
given the nature of the charitable company's work, the level of free reserves should be
approximately equivalent lo one year's annual estimated expenditure. The Iruslees are of the
opinion that this provides sufficient flexibility to cover temporary shortfalls in income and
adequate working capital to cover core costs.
At 31 December 2021 unrestricted reserves amounted lo £212.67012020 - £210.5161. Of
this amount £167,30612020- £167,306) are represented by the investment property held for
long term income generation, leaving £45,36412020- £43,210) as free reserves.
Free reserves currently amount lo twenly-nine months12020 - thirty months} of expenditure
Ibased on an average of the current years and the prior year's expendilurel which is higher
than prior years due lo no donations being paid in the prior year.
Going Concern
The trustees have assessed whether the use of the going concem assumption is appropriate
in preparing these accounts. The Iruslees have made this assessment in respect lo a period
of one year from the date of approval of these accounts.
The trustees of the charity have concluded that there are no material uncertainties related to
events or conditions that may cast significant doubt on the ability of the charity lo continue as
a going concem. The trLJStees are of the opinion that the charity will have sufricient resources
lo meet ils liabilities as they fall due.
Do Well Foundation Limited

Trustees. report 31 December 2021
FUND RAISING
The charity does not fund raise directly with individuals and therefore is not registered with
the Fundraising Regulator. No fund-raising activities are undertaken.
POST BALANCE SHEET EVENTS AND FUTURE PLANS
The charity continues lo focus on its primary charitsble objectives of making grants for literary
and educational purposes.
Approved by the trustees and signed on their behalf by=
Trustee- Jonathan Barton
Approved on.. October 13, 2022
Do Well Foundation Limited

Report of the independent examiner 31 December 2021
Independent examlner's report to the trustees of the Do Well Foundation Limited
I report lo the charity trustees on my examination of the financial statements of the charitable
company for the year ended 31 December 2021.
Responslbllltles and basls of report
As the Iruslees of the charitable company land also its directors for the purposes of company
lawl you are responsible for the preparation of the financial statements in accordance with the
requirements of the Companies Act 20061'the 2006 Acl'l.
Having satisfied myself that the financi81 statements of the charitable company are not
required lo 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 financial slalemenls as
carried out under section 145 of the Charities Act 2011 I'the 2011 Act'l. In carrying out my
examination I have followed the Directions given by the Charity Commission under section
14515llbl 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 my examination giving me cause to believe..
accounting records were not kept in respect of the charitable company as required by
section 386 of the 2006 Act., or
the financial statements do not accord with those records., or
the financial statements do not comply with the accounting requirements of section 396
of the 2006 Act other than any requirement that the financial slalements give a 'true and
fair view, which is not a matter Considered as part of an independent examination., or
the financial statements have not been prepared in accordance with the methods and
principles of"Accounling and Reporting by Charities". The Statement of Recommended
Practice applicable lo charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021..
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 lo enable a proper
understanding of the accounts to be reached.
Catherine Biscoe
Buzzacoll LLP
Chartered Accountants
130 Wood Street
London
EC2V 6DL
Date-. 27 October 2022
Do Well Foundation Limited

Statement of financial activities Year lo 31 December 2021
Ilncluding Income and Expenditure Account)
Unrestricted funds
2021
2020
Not85
Income from:
Donations
Investments
For8ign 8xchang8 gains
Total incorn8
27,805
3,602
382
31,788
10.000
3,608
13,608
Expenditure on..
Raising funds
Charitable actiwties
Foreign exchange losses
Totsl expenditure
458
29,559
614
6,285
138
7,037
30,017
Net income before gains on investments
1,771
6,571
other gains and losses:
Realised gain on current asset Investments
283
2,054
Net in¢ome and net movement in fund$ for the year
Total funds brought fomard at 1 January 2021
Total funds carrled forward at 310ecember 2021
6,571
203,945
210,516
210,516
212,570
All the charitable company's activities derived from continuing operations during the above
Iwo financial years.
Do Well Foundation Limited

Balance sheet 31 December 2021
2021
2020
Notes
Flxed assets
Investments
Current assets
Cash at bank and in hand
Debtors
167,306
167,306
27,575
22,961
50,536
20.873
29,361
50,234
Creditors.. amounts falling du8
within one year
Net current assets
Total assets
15,1721
45,364
212,670
16,9241
43.310
210,616
The funds of the charlty:
Called up share capital
Unrestricted funds
General fund
100
100
10
212,570
212,670
210,516
210,616
For the year ended 31 December 2021 the company was entitled to exemption from audit
under section 477 of the Companies Act I'the ACV'I relating to small companies.
The members have not required the company to obtain an audit of its financial statements for
the financial year in question in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the
Companies Act 2006 with respect to accounting records and the preparation of financial
stalemenls.
These financial ststemenls have been prepared in accordan￿ with the provisions applicable
to companies subject to the small companies, regime.
Approved by the Iruslees of Do Well Foundation Limited, Company Registration Number
4131417 (England and Walesl and signed on their behalf by..
Trustee- Jonathan Barton
Approved on.. October 13, 2022
Do Well Foundation Limited

Principal accounting policies 31 December 2021
The principal accounting policies adopted, judgements and key sources of estimation
uncertainly in the preparation of the financial statements are laid out below.
Basis of preparation
These financial statements have been prepared for the year to 31 December 2021.
The financial statements have been prepared under the historical cost convention with items
recognised at cost or transaction value unless otheNise ststed in the relevant accounting
policies below.
The financial statements have been prepared in accordance with Accounting and Reporting by
Charities.. Ststemenl of Recommended Practice applicable to charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the United
Kingdom and Republic of Ireland IFRS 1021 Icharities SORP FRS 1021 and the Charities Act
2011.
The charity conslilutes a public benefit entity as defined by FRS 102.
The financial statements are presented in sterling and are rounded lo the nearest pound.
Critical a￿OUntIng estimates and areas of judggmgnt
The preparation of financial statements requires the use of certain critical accounting eslimales
and judgements. It also requires the trustees to exercise judgement in the process of applying
accounting policies. Estimates and judgements are continually evaluated and are based on
historical experience and other factors, including an expectslion of future events that are
believed to be reasonable under the circumstances. Athough these estimates are based on
the trustees, best knowledge of the amount, event or acb'ons, actual results may dtffer from
those eslimales.
Areas requiring the use of estimates and critical judgements that may impact on the charity's
financial activities and financial position include..
Investment properties are required lo be carried at market value al each balance sheet dale
which is estimated by the Iruslees using publicly available information.,
Rental income is recognised at an amount that represents market value. The market
value is estimated by the trustees.
Do Well Foundation Limited 10

Principal accounting policies 31 December 2021
Assessment of going concern
The Iruslees have assessed whether the use of the going concern assumption is approprialein
preparing these financial statements. The Iruslees have made this assessment in respecllo a
period of one year from the date of approval of these financial slatemenls.
The trustees of the charity have concluded that there are no material uncertainties related to
events or conditions that may cast significant doubl on the ability of the charity lo continueas a
going concern. The Iruslees are of the opinion that the charity will have sufficient resources to
meet its liabilities as they fall due. With regard to fLJture accounting peri(*s, themost significant
area that affects the carrying value of the assets held by the Charity is the valuation of the
investment property, which is dependent on fluclualions in the UK propertymarket.
Income
Income is recognised in the year in which re￿ipt is probable, the charity is entitled lo the
resources and the amount can be measured with reasonable certainty.
Gifts in kinds are measured at their eslimaled fair value lo the charitable company.
Income from investments represents rental income from the investment property and interest
on bank deposits.
Expenditure
Expenditure is included in the statement of financial activities when incurred and includes
attributable VAT which cannot be recovered.
Grants and donations are unconditional grants lo other charities and are made wholly at the
discretion of the Iruslees.
Expenditure on raising funds comprises the costs of maintaining the investment property.
Governance costs comprise the costs of the charitable company's organisalional procedures
and the necessary legal procedures for compliance with slatulory requirements and are
included within charitable aclivilies.
Fund accounting
Unreslricled general funds represent those monies which are freely available for application
towards achieving any charitable purpose that falls within the charitable objectives.
Investment properties
Investment properties are included at an open market valuation al the balance sheet date as
eslimaled by the Iruslees in the light of publicly available information regarding property mark81
trends.
Do Well Foundation Limited 11

Principal accounting policies 31 December 2021
Debtors
Debtors are recognised at their selllemenl amount. less any provision for non-recoverability.
Cash at bank and in hand
Cash al bank and in hand represents such accounts and instruments that are available on
demand or have 8 maturity of less than three months from the balance sheet date.
Current asset investments
Current asset investments are shares and securities held by the charity for sale and are initially
recognised at fair value. Gains or losses on subsequent sale are induded in the statement of
financial activities.
Crgditors
Creditors are recognised when there is an obligation al the balance sheet dale as a result of a
past event, il is probable that a transfer of economic benefit will be required in settlement, and
the amount of the settlement can be estimated reliably. Creditors are recognised al the amount
the charity anticipates il will pay lo settle the debt.
Foreign Cu￿8n¢19S
Transactions undertaken in foreign currency during the period are translated into sterling al the
spot rate of exchange on the day of the Iransaclion. Exchange differences are taken to the
statement of financial activities.
Foreign exchange gains lor losses) arising on the translation of monetary assets and liabilities
at the period end date are taken to the statement of financial activities.
Do Well Foundation Limited 12

Notes to the financial statements 31 December 2021
Incomg from donations
Donations consist of cash and equity investments donated lo the charitable company.
2 Expendlture on ralslng funds
This relates to expendilLJre associated with the charity's investment propety.
3 Expenditure on charitable activities
2021
2020
Donations
Govemance costs..
Legal and professional fees
. Accountancy fe85
Tax services
Company secretarial fees
18,161
106
5,400
5,520
372
29,559
575
5,350
360
6,285
4 Trustees, remuneratlon
The charity has no employees. The trustees comprise the key management personnel.
No Iruslee received any remuneration in respect of their servi￿8 nor reimbursement of
expenses during the year12020- £nill.
5 Fixed asset investments
Investment
pmperty
Market value 8t 1 January 2021 and at D8cemb8r 2021
167,306
C05t of inv8Stm8nts at 31 D8C8tnb8r 2021
167,306
Investment
property
Mart(et value at l January 2020 and al Dec&mber2020
16T,306
Cost c>f investments at 31 D&￿mber 2020
167,306
The investment property is held at fair value as valued by the trustees. The trustees are
satisfied that after carrying out a review of values of similar property in the area, that this
valuation equates to the current fair value.
Do Well Foundation Limited 13

Notes to the financial statements 31 December 2021
6 Taxation
Do Well Foundation Limited is a registered charity and therefore is not liable lo income lax
or corporation tax on income derived from ils charitable activities, as il falls within the various
exemptions available to registered charities.
7 Debtors
2021
2020
Other debtors
22,961
29.361
8 Creditors: amounts falling due within one year
2021
2020
Accruals
5,172
6,924
9 Called up share capital
2021
2020
Ordinary shares of £1 each
100
100
10 Reconciliation of movements in shareholder's funds
2021
2020
Equlty funds
Net movement in funds in the financial y8ar
Opening shareholderfs funds at 1 January
Closing shareholderf5 funds at 31 Decernber
2,054
210,616
212,670
6,571
204,045
210.616
11 Ultimate holding company and control
The charitable company is wholly owned by the Delaware Do Well Foundation, a US lax
exempt charitable organisation, and was founded to carry out the work of that entity in the UK.
The activities of the charitable company are controlled by the trustees of the charitable
company.
There were no transactions with the holding company during the year.
Do Well Foundation Limited 14

Notes to the financial statements 31 December 2021
12 Rglatgd party transactions
During the year the charitable company's investment property was let to relatives ofJonalhan
Barton, a Iruslee of the Do Well Foundation at an agreed annual rentsl of £3,600per year. No
payment of rent was made by the lenanl during 202112020- £nill. Jonathan Barton has agreed
lo pay the rent due on behalf of his relative and paid £10,000 in year12020 - £nill.
Al 31 December 2021 amounts outstanding from Jonathan Barton were £15,200 12020
£21,600) relating to rent and £7,76112020- £7,761) relating to rates and council lax payments
for the investment propety currently occupied by Jonathan Barton's relative. These amounts
relate lo both the current year and prior years.
During the year donations of £27,805 12020 £10.000} were made by Jonathan Barton and
Amanda Foreman to the Do Well Foundation.
The charity donated £18,161 to the House of SpeakEasy Foundation Inc, a nol-for-profit
institution founded in the United Stales12020 £nill. The charity was co-founded by Amanda
Foreman. Jonathan Barton and Amanda Foreman are both directors of the Houseof
SpeakEasy.
Do Well Foundation Limited 15