Page 11 OPTIONS WELLBEING TRUST (LIMITED BY GUARANTEE) REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 COMPANY REGISTRATION NUMBER 04699108 REGISTERED CHARITY NUMBER 1100782
Page 12 OPTIONS WELLBEING TRUST (UMITED BY GUARANTEE) FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Contents REPORT OF THE MANAGEMENT COMMITTEE.................. ..... . INDEPENDENT AUDITOR'S REPORT........ .... STATEMENT OF FINANCIAL ACTIVITIES ......................... ..... .. . 11 BALANCE SHEET........................................... . 12 STATEMENT OF CASH FLOWS............................................. .13 NOTES TO THE CASH FLOW STATEMENT............. ...... .14 NOTES TO THE FINANCIAL STATEMENTS............................... .... 15
OPTIONS INELLBEING TRUST (LIMITED BY GUARANTEE) REPORT OF THE MANAGEMENT COMMITTEE FOR THE YEAR ENDED 30 SEPTEMBER 2024 The Management Committee is pleased to present its annual report and audited Financial Statements for the year ended 30 September 2024 which are also prepad to meet the requirements for a Directors, Report and Financial Statements for Companies Act purposes. The Financial Statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their Financial Statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102} {effe¢tive 1 January 2015} including early adoption as amended January 2016. REFERENCE AND ADMINISTRATIVE INFORMATION Charlty Name: Options Wellbeing Trust Charity Registration Number: 1100782 Company Registration Number. 04699108 Registered Office and Operational Address: 147 Shirley Road Southampton S015 3FH The Management Committee are the directors of the charitable company for the purpose of company law and are its trustees for the purpose of charity law. The officers who served during the period and since the period end are as follows: Management Committoe: D Lodge L Judd - Resigned 5 July 2024 D Corben - Resigned 26 March 2024 E Hickman- Chair N Ward- Appointed 11 March 2025 Our Advisors: Ind8pendent Audltor Saffery LLP Midland House 2 Poole Road Bournemouth BH2 5QY Bankers: Lloyds Bank 30 Commercial Road Totton S040 3TH
P1c ge 14 REPORT OF THE MANAGEMENT COMMIThEE (Continued) For the year ended 30 September 2024 OBJECTIVES AND ACTIVITIES The charitsbl8 company's objectives are- To preserve and protect mental health by the provision of a counselling service to all sections of the community who are suffering from psychological or emotional distress, employment or relationship problems and particulady relating to addictions., To promote, preseNe and protect physical and mental good health in the Workpla by the provision of training, education and a counselling Servi for both employers and employees; and To provide education and training for those involved in counselling. The main objectives of the charitable company for the period were to develop and promote its new ServIS whilst continuing to provide high quality, user-friendly seNices to its traditional client group. Public Benefit Statement Our main activities are described 8bove. AJI our activities are undertaken to further our charitable purposes for th8 public benefit. In shaping our objectives and planning our activities, the Management Committee has considered the Charity Commission's guidance on public benefit including the guidance'Public Benefit: Running a Charty (PB2)'. ACHIEVEMENTS AND PERFORMANCES The Options Wellbeing Trust has been navigating a challenging financial landscape over the past year whilst it continues to grow its self-funded offer, marked by ambitious growth plan5 that have not yet translated into the expected financial outcomes. The organisation had set a budget for income of £505,741, reflecting ils aspirations for expansion and the introduction of new services, particularly in the realm of specialist eating disorder and couples counselling. However. the actual income achieved was £341,368, leading to a significant adverse variance of £164,373. This discrepancy highlights the difficulties faced in meeting projected income targets amidst ongoing mulkn'faceted growth initiatives. One of the key areas of concern has been the contribution to the core services of the group. Originally, the charity budgeted a positive contribution of £21,969 for the financial year. Unfortunately, due to the shortfall in expected income and the associated costs of scaling operations, the organisation instead recorded a deficit of £136.415. This deviation from expectations underscores the challenges of balancing growth ambitions with financial sustainability, particularly in a seclor that often relies heavily on external funding and grants. The charity's efforts to diversify its services and seek new partnerships were commendable. however, the anticipated growth in both the specialist eating disorders sector and the Thrive" support initiative for businesses did not materialise as planned. This shortfall in activity delivery not only affected the charity's immediate financial stsnding but also raised questions about its strategic planning and market positioning of Options Wellbeing Trust as a whole. On a more positive note, Options Wellbeing Trust was able to secure grants amounting to £75,000 during the fiscal period. These funds are crucial for supporting ongoing operations and initiatives. However. the loss of recuffing grants from previous years exacerbated the financial strain, as these funds had been integral to the charity's budget planning. In light of these financial challenges, the organisation has proactively developed and is actively implementing a recovery plan aimed at 5tabilising its operations. Key components of this plan include a thorough review of operational costs with an emphasis on ducIng back office expenses. Unfortunately, this has involved difficult decisions, such as the redundancy of key personnel. Overall, while the Options Wellbeing Trust has made strides in securing new fundlng opportunities and exploring Innovative service delivery models. the financial realities of the past year have necessitated a re-evaluab-on of its growth strategies. Moving forward, it will be critical for the organisation to focus on sustainable praCtis, enhance its fundraising efforts, and ensure that its growth ambition5 align more closely with its financial capabilities. Engaging with stakeholders, refining its business plan. and POS5ibly exploring new partnerships will be e55ential steps in navigating the path toward recovery and future Sucss. FINANCIAL REVIEW The charitable company recorded a deficit of £136,415 on its aclivities in the year to 30 September 2024. rnpared to deficit of £97.408 in the previous year. Income increased to £341,368 in the year compared to £265.326 the previous year. Expenditure increased to £477.783 in the year compared to £362,734 in the year prior. The charitable company's reseNes are £978,113 as at 30 September 2024 compared to £1.114,528 as at 30 September 2023. The Management Committee are content with the deficit recorded for the period and the financial stability of the charitable company.
Page 15 REPORT OF THE MANAGEMENT COMMITTEE (Continued) For the year ended 30 September 2024 Principal Funding Sources The principal funding sources of the charitable company are by way of offering counselling services for a variety of presentation. Investment Policy The Management Committee considers the most appropriate policy for investing funds is to keep the fund in liquid form via investing in bank and building society deposit accounts. This policy is continuously under review. Reserves Pollcy and Going Concern The Management Committee detennined that in order to.. provide for fluctuations in income and expenditure. ensure continuity of services., and save for the future risks to Options Wellbeing Trust and its staff. This would include the potential cry5tallisation of the Local Govemment Pension Scheme. The Management Committee would work towards holding a sum of money equivalent to three months of resources expended for the year calculated as one Ihird of £477,783 being £159,261. Unrestricted reserves are £377,041 at the ba[an sheet date and therefore the Management Committee is satisfied that this has been achieved. To develop and promote its setvices. the Management Committee has agreed to use some of its reserves, thereby increasing the public benefit and will be monitorlng thls via the Business Development Plan. Th8 reserves policy is normally reviewed annually at the board meeting immediately preceding the charitable company's Annual General Meeting in any year and recommendations made are announced at the Annual General Meeting. The Management Committee is of a view that the charitable company is a going concern. PLANS FOR FUTURE PERIODS We will continue to promote the charity to stakeholders wthin our local authorities and the NHS. and work with them to identify gaps in provision that Options can support with. To ensure the ongoing financial sustainability of the charity we will also focus on the growth of our Couple Counselling and Workplace Wellbeing offer. Furthermore, Options Wellbeing Trust will continue to pursue grant funding when available to tackle un-met needs in our communities. STRUCTURE. GOVERNANCE AND MANAGEMENT Governlng Document The organisation is a charitable company limited by guarantee, Incorporated on 17 March 2003 and registered as a charity on 19 November 2003. The charitable company was established under a Memorandum of Association, which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up, the member is required to contribute an amount not exceeding £10. Recruitment and AppoSntment of Management Commlttee The directors of the charitable company are also charity trustees for the purposes of charity law and under the company's Articles are known as members of the Management Committee. Under the requirements of the Memorandum and Articles of Association. the members of the Managemenl Committee are elected to serve for a period of three years. after which they must be re*lected at the next Annual General Meeting. Al trustees give their time voluntarily and receive no benefit from the charitable company. Trustee Induction and Tralnlng Trustees are familiar with the work of the charitable company. New trustees meet with the chair of the trustee board who provides a briefing on the charitable company, its aims and objeclives including: The obligation of board members. The maln documents, which set out the operational framework for the charitable company including the Memorandum of Articles. The financial posilion of the organisation induding the last set of audited Financial Statements and funding streams. Future plans and objectives. All trustees are provided with a copy of CC3, "The Essential Trustee Guide. and CC60 'Hallmarks of an EtIVe Charity.. Trustees also attend the charitable company's user feedback lunches and teas.
REPORT OF THE MANAGEMENT COMMITTEE (Continued) For the year ended 30 September 2024 Organisational Structure The organisational structure comprises a board of Iwo trustees who meet at least four times a year and who sit under the Social Care in Action Board. The current Management Committee comes from a variety of backgrounds relevant to the work of the charitable company including health and social care, mental health, third sector, human resources, financial and business communities. The Social Care in Action board are responsible for the strategic direction and policy of all the charitable companies. The day-to4ay operation and responsibility is delegated to the Chief Executive of Social Care in Action who is responsible for ensuring the companies deliver the specified services, meet the key perfomiance targets and stay within agreed budget. The Chief Executive delegates the responsibility for the day-to-day management of Options Wellbeing Trust's service delivery to its Chief Executive Officer who oversees the team leaders responsible for delivery at their sites and the line management of their staff teams. The clinical therapeutic supeNision is separated from the line management function and undertaken by trained and experienced counselling sup61visors. There is an Audit and Remuneratlon Committee comprising Social Care in Action's tre8surer, trustees, Chief Executive, and Head of Finance, which reviews expenditure against budgets and the general financial health and control systems of the charitable companles. Related Partles The other members of the group are Social Care in Action, SCA Care. SCA Transport Services. Southampton Healthy Living, Flat Spaces Foundation, Flat Spaces (Ropley) Limited and The Steven James Practice. Social Care in Action. Flat Spaces Foundation and The Steven James Practice are companies limited by guarantee and registered charities. Southampton Healthy Llving is a company limited by guarantee. Flat Spaces {Ropley) Limited is a company limited by shares. SCA Care and SCA Transport Services are Registered Societies under the CoperatiVe and Communlty Benefit Societies Act 2014. The charitable company and registered societies are all operated and managed on a unified basis with Social Care In Action acting as the par8nt body. Counselling seNices work to the British Association of Counselling and Psychotherapy's Stsndards and Ethics. Key Management and Personnel Remuneration The Management Committee consider the Management Committee and the Chief Executive Officer comprise the key management personnel of the charitable company in charge of directing and controlling the charitable company and running and operating the charitable company on a day-to-day basis. All Management Commlttee members give their time freely and no remuneration to members of the Management Committee was paid in the period. The pay of the Chief Executive Officer is reviewed by the Management Committee periodically on the basis of the perfomance of the individual concemed and the charitable company as a whole.
Pl< ge 17 REPORT OF THE MANAGEMENT COMMITTEE (Continued) For the year ended 30 September 2024 RESPONSIBILITIES OF THE MANAGEMENT COMMITTEE The charitable company's Management Committee (who are trustees for the purposes of charity law and directors for the purposes of company law) are responsible for preparing an annual report and Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Management Committee to prepare Financial Statemenls for each financial period, which give a true and fair view of the state of the affairs of the charitsble company as at the Balance Sheet date and of its incoming resources and application of resources, including income and expendilure. for the financial period. In preparing those Financial Statements. the Management Committee is required to: select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP (FRS 1021- makejudgments 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. and- prepare the Financial Statements on the going concern basls unless it is inappropriate to presume that the charitable company will continue on that basis. The Management Commlttee Is responsible for keeping proper accountlng records that disclose, with reasonable accuracy at any time. the financial position of the charitable company and to enable them to ensure that the Financial Statements comply with the Companies Act 2006. The Management Committee is 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 Management Committee is responsible for the malntenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governin9 the preparation and dissemlnatlon of the Financial Statements may differ from leglslatlon In other Jurisdictions. Approved by the Management Committee on 4 April 2025 and slgned on Its behalf by: IcLa IN E HICKMAN CHAIR
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF OPTIONS WELLBEING TRUST (LIMITED BY GUARANTEE) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Opinion We have audited the financial statements of Options Wellbeing Trust for the year ended 30th September 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and note5 to the financial statement5, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and R&public of Ireland (United llngdom Generally Accepted Accounting Practice). In our opinion the financial statements: give a true and fair view of the charitable company's state of affairs as at 30th September 2024 and of its incoming resources and application of resources, including its income and expenditure. for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. and have been prepared in accordance with the Companies Act 2006. Basls for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UKII and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relatlng to golng conc•rn In auditing Ihe financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that. individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least e1ve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern a described in the relevant sections of this report. Other informatlon The other information comprises the information included in the annual report, other than the financial statements and our auditorfs report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, exc8Pt to the extent otherwise explicitly stated in our report, we do not express any fomi of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material mi5Statements, we are required to deterniine whether this gives rise to a material misslatement in the financial statements themselves. If, based on the work we have perfomied, we conclude that there is a material misstatement of this other information we are required to report that faGt. We have nothing to report in this regard.
INDEPENDENT AUDITOR'S REPORT (Continued) For the year ended 30 September 2024 Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the Trustees. Annual Report which includes the Directors, Report for the financial year for which the financial statements are prepared is consistent with the financial statements. and the Trustees, Annual Report which includes the Directors, Report has been prepared in accordance with applicable legal requirements. Matt•rs on whlch we are required to report by exceptlon In the light of the knowledge and understanding of the charitable company and its environment obtalned in the course of the audit, we have not identified material misstatements in the Trustees, Annual Report. We have nothing to report in respect of the following matters where the Companies Act 2006 requlres us to report to you if, in our oplnion.. adequ8te 8ccounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us., or the financial statements are not in agreement with the accounting records and returns; or certain disclosures of trustees, remuneration specified by law ar8 not made- or we have not received all the information and explanations we require for our audit. Responsibilitles of trustaes As explained more fully in the Trustees, Responsibilities Statement set out on page 7, the trustees (who are also directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from materlal mlsstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable. matters related to going concern and using the going concem basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operalions, or have no realistic alternatlV8 to do so. Audltorfs responsibilities for the audlt of the flnancial statements We have been appointed as auditors under the Companies Act 2006 and report in accordance with regulations made under that Act. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material mi55tatement, whether due to fraud or error, and to issue an auditor's report that includ8s our opinion. Reasonable assurance is a high level of assurance, but is not 8 guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material rf, individually or in the aggregate. they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial ststements. Irregularities. including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities. including fraud are detailed below.
Page 110 INDEPENDENT AUDITOR'S REPORT (Continued) For the year ended 30 September 2024 Identifying and assessing rlsks related to Irregularities: We assessed the susceptibility of the charitable company's financial statements to material misstatement and how fraud might occur, including through discussions with the trustees, discussions within our audit team planning meeting, updating our record of intemal controls and ensuring these controls operated as intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the context of the charitable company by discussions with trustees and updating our understanding of the sector in which the charitable company operates. Laws and regulations of direct significance in the context of the charitable company include The Companies Act 2006, and guidance issued by the Charity Commission for England and Wales. Audit response to rlsks Identlfled: We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial statement items including a review of financial statement disclosures. We reviewed the charitable company's records of breaches of laws and regulations, minutes of meetings and correspondence with relevant authorities to identify potential material misstatements arising. We discussed the charitable company's policies and proGedures for compliance with laws and regulations with members of management responsible for compliance. During the planning meeting with the audit team, the engagement partner drew attention to the key areas whlch mSght Involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any Instances of non-compliance with laws and regulations or knowledge of any actual, suspecled or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness ofjoumal entries and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether judgements made in making accounting estimates gave rise to a possible indication of management bias. At the completion stage of the audit, the engagement partnerfs review included ensuring that the team had 8pproached their work with appropriate professional sPtIcISM and thus the capacity to identify non-compliance with laws and regulations and fraud. There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements. the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud.is higher than th& risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example. forgery or intentional misrepresentations, or through collusion. A further description of our responsibilities is available on the Financial Reporting Council's website at= www.frc.or .ukJauditorsres onslbS1ities. This description forms part of our auditor's report. Use of our report This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitabl& company's members those matters we are required to stale to them in an auditor's report and for no other purpos&. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charrtable company's members as a body, for our audit work, for this report. or for the opinions we have formed. Date.. Casidhe Baleri (Senior Statutory Auditor) for and on behalf of Saffery LLP - Statutory Auditors Boumemouth office Midland House 2 Poole Road Boumemouth BH2 5QY Saffery LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006
Page 111 OPTIONS WELLBEING TRUST {LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Totsl Funds 2024 Total Funds 2023 Note INCOME Donations and grants Charitable activities 106,646 234,722 47.383 217,943 TOTAL 341,368 265,326 EXPENDITURE Charitable activities (477,783) (362,734) TOTAL (136,415) (362,734) NET EXPENDITURE (136,415) {97,408) OTHER RECOGNISED GAINS Loss on revaluation of fixed asset (70,000) NET MOVEMENT IN FUNDS FOR THE PERIOD (136,415) (167,408) RECONCILIATION OF FUNDS Total funds brought forward 1,114,528 1,281,936 Totsl funds carried forward 978,113 1,114,528 The Staternent of Financial Activities includes all gains and losses in the period. All incorne and expenditure derive from continuiro activities.
Page 112 OPTIONS WELLBEING TRUST (LIMITED BY GUARANTEE) BALANCE SHEET AS AT 30 SEPTEMBER 2024 2024 2023 Note FIXED ASSETS Tangible fixed assets Investment Properties 468,817 190,000 801,895 190,000 TOTAL FIXED ASSETS 658,817 991,895 CURRENT ASSETS Debtors Cash at bank and in hand 10 365,434 5.889 131,664 55,319 TOTAL CURRENT ASSETS 371,323 186.983 LIABIUTIES Creditors: Amounts falllng due within one year 11 (52,027) (64,350) NET CURRENT ASSETS 319,296 122,633 TOTAL ASSETS LESS CURRENT LIABILITIES 978,113 1,114,528 NET ASSETS 978,113 1.114,528 THE FUNDS OF THE CHARITABLE COMPANY Unrestricted Funds 978,113 1,114,528 TOTAL CHARITABLE COMPANY FUNDS 13 978.113 1,114,528 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 statem8nts. The Management Commlttee has prepared Financlal Statements in accordance with the special provisions of Part 15 of the Companies Act relating to small cornpanies and constitute the annual Financial Statements required by the Companies Act 2006 and are for circulation to members of the charitable company. The notes on pages 15 to 21 form part of these FinanGial Statements. Approved by the Management Committee on 4 April 2025 and signed on its behalf by: CGLLTrI LVI E HICKMAN D LODGE REGISTERED COMPANY NUMBER: 04699108
Page 113 OPTIONS WELLBEING TRUST (LIMITED BY GUARANTEE) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Note 2024 2023 CASH FLOWS FROM OPERATING ACTIVITIES Net cash (used) I provided by operating activities (370,235) 50,931 CASH FLOWS FROM INVESTING ACTivrriES Purchase of tangible flxed assets Proceeds on sale of tangible fixed assets (1,190) (2,247) 321.995 NET CASH PROVIDED I (USED) IN INVESTING ACTIVITIES 320,805 (2,427) Change in cash and cash equivalents In the perlod (49,430) 48,504 Cash and cash equivalents at the beginning of the period 55,319 6,815 Cash and cash equlval&nts at th6 end of tho period 5,889 55,319
Page 114 OPTIONS WELLBEING TRUST (LIMITED BY GUARANTEE) NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 30 SEPTEMBER 2024 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 Net {expenditure) l income for the period {as per the Statement of Financlal Activities) Adjustments for.. 2023 (136,415) (167,408) Revaluation of fixed assets Loss on disposal of fixed assets Depreciation charges (Increase) / Decrease in debtors Increase l (Decrease) in creditors Net cash (used) I provlded by operating activities 70,000 8,005 4,268 (233,770) (12.323) 4,841 97.428 46.070 (370,235) 50,931 ANALYSIS OF CASH AND CASH EQUIVALENTS 2024 Cash at bank and in hand 2023 5,889 55,319 Total cash and cash equivalents 5,889 55,319
OPTIONS WELLBEING TRUST (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 ACCOUNTING POLICIES Charity Information Options Wellbelng Trust is a charitable company established under its Memorandum and Articles of Assoclalion and registered with the Charity Commission and Companies House in England and Wales. The principal address is 147 Shirley Road, Southampton, S015 3FH. The charitable company is a public benefit entity. The principal accountlng policies adopted, judgments and key sources of estimation uncertainty in the preparation of the Financial Statements are as follows.. (a) Basis of Preparation The Financial Slalements have been prepared in accordance with Accounting and Reporting by Charitles.. Statement of Recommended Practice applicable to charities preparing their Financial Statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102) including early adoption as amended January 2016), Act 2006. the Financial Reporting Standard applicable in th& UK and Republic of Ireland (FRS 102) and the Companies Assets and liabilities are Ini11811y recognised at hlstorical cost or transaction value unless othernise stated In the relevant accounting pollcy note(s). The Financial Statements are prepared in sterling, whlch Is the functional CUrncY of the charitable company. Monetary amounts are rounded to the nearest £. (b) Income All income is included in the Statement of Financial Actlvities when the charitable company is entitled to the income and the amount can be quantified With reasonable accuracy. The followlng specific policies are applied to particular categories of income.. Donations and legacres are received by Way of donations and gifts and are included In full in the donation. Statement of Financial Activities when the charitable company becomes uncondltionally enlilled to the Donated seNices and facilities are included at the value to the charitable company where this can be Statements. quantified. The value of services provided by volunteers has not been included in these Financial Investment income is included when recelvable. Income from charitable trading activities is accounted for when earned. Grants, whether °caprtal" grants or "revenue" grants, are recognised when the charity has entitlement to the funds, any performance Conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. (c) Expenditure Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure Includes VAT, as the charitable company is not VAT registered and is reported as part of the expenditure to which it relates. Expenditure on charitable activities comprises those costs incurred by the charitable company in the delivery of its activities and services for Its beneficiaries. It includes both costs that can be allocated directly to such activities and their associated support costs. Support costs are those functions that assist the work of the charitable company but do not dlrectiy undertake the charitable activities. These costs have been allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource and are apportioned on time, usage or governance. Governance costs include those costs associated with meeting the constitutional and statutory requirefnents charitable company. of the charitable company and include the audit fees and costs linked to the strategic management of the
NOTES TO THE FINANCIAL STATEMENTS (Continued) For the year ended 30 September 2024 ACCOUNTING POLICIES (Continued) (d) Tangible Fixed Assets Tangible assets are measured at cost less accumulated depreciation and any accumulated impairment years. losses. Freehold properties are subsequently measured at their fair value and are to be revalued every 5 Fixed assets costing more than £1,000 are capitalised at cost. economio life: Depreciation is provided at the following annual rates in order to write-off each asset over its estimated useful Fixtures and fitttngs Computer equipment Freehold propety (buildings) (e) Debtors 20% Straight Line 25/ Straight Line If) Trade and other debtors are recognlsed at the settlement amount due. Prepayments are valued at the amount prepaid net of any trade discounts du&. Cash at Bank and In Hand Cash at bank and in hand includes cash and short temi highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. (g) Credltors and Provisions Creditors and provislons are recognised where the charitable company has a present obligation resulting from a past event that will probably resLJIt in the transfer of funds lo a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally reco9nised at their setllem8nl amount after allowlng for any trade discounts due. (h) Flnance Lease Agreements Assets held under finance leases, where substantially all of the benefits and risks of ownership accrue to the lessee, are capitalised and disclosed under tangible fixed assets al their fair value. The assets are depreciated over the shorter of the lease term or their useful economlc life. The capital element of the future payments is treated as a liability. The total finance charge for each lease is charged to the Statement of Financial Activities so as lo produce a constant periodic rate of charge for each accounting year. Operatlng Lease Agreements {1) ') Rentals applicable to operating leases, where substantlally all of the benefrts and risks of ownership remain wrth the lessor, are charged to the Statement of Flnancial Activities as incurred. Penslon Costs expense as they fall due. The charitable company operates a defined contribution scheme, payments to the scheme are charged as an (k) Taxatlon The charitable company Is exempt from Corporation Tax on its charitable activities. Fund A¢countlng Unrestricted funds consist of the general purposes fund and deslgnated funds. Designated funds are funds established by the Management Committee from time to time for specific projects or purposes, are not in any way restricted and any surplus or deficit will be transferred to/from the general Purposes fund when the designated fund is closed. Restricted Funds are funds subject to specific restrictions imposed by donors or by the purpose of the Ststements. appeal. The purpose and use of designated and restricted funds is set out in the notes to the Financial (m) Financial Instruments (i) The charitable company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. (n) Slgnificant Judgments and Estlmates Preparation of the Financial Statements may require management to make significant judgments and estimates. There are no items in the Financial Statements where judgments and estimates Would have a significant effect on amounts CognISed in the Financial Statements.
NOTES TO THE FINANCIAL STATEMENTS (Continued) For the year ended 30 September 2024 ACCOUNTING POLICIES (Continued) (o) Investment Property Page117 Investment properties are initially measured at cost and subsequently at fair value at the reporting date. with the change recognised In the ststement of financial actlvities. DONATIONS AND GRANTS Donations and grants Total 2024 2023 106,646 47,383 106,646 47,383 The charitabl8 company has entered into servlce agreement contracts wlth government bodies and local authorlties to provlde the various services and specific deliverables that the charitable company provides. Income. There Were no unfulfilled conditions and / or other ¢onUngencles attaching to the grants that have been recognised In The donations and grants shown above relate to payments received durrng the charitable company's year to 30 subsequent year. September 2024 but adjusted for any deferments where the expenditure arising for that grant Is being incurred in a INCOME FROM CHARITABLE ACTIVITIES Infomiatlon and Counselllng Private counselling Propety rental Training Fees Other income Total 2024 2023 179,734 49,388 200 5.400 169,392 44,451 1,450 2,650 234,722 217,943 ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES Infomiatlon and 2024 Total Counselllng Funds 355.663 116,620 355,663 5.500 116,620 5,500 2023 Total Funds Direct personnel costs Support costs Governance costs Total 250,502 109,532 2,700 477,783 477,783 362,734
NOTES TO THE FINANCIAL STATEMENTS (Continued) For the year ended 30 September 2024 ANALYSIS OF SUPPORT AND GOVERNANCE COSTS The charitable company identifies the costs of its support functions. It then identlfles those costs that relate to the governance function. Having identlfied its govemance costs, the remaining support costs together With the govemance costs are apportioned beeen the key charitable activities undertaken (see note 4) In the period. Refer to the table below for the basis for apportionment and the analysis of SLrpport and govemance costs. P¢1ge118 General Support 2024 Total Funds 2023 Total Funds Premises Staff welfare Travel and subslstence Office costs Advertising and promotions Website development Legal and professional fees Audit fees Bank charges and interest Depreciation Bad Debt Subscriptions Total Governance Basis of Apportionment 36,189 Usage 22,090 Usage 21 Usage 12,398 Usage 21.573 Usage 1,003 Usage 7,390 Usage 2,700 Governance 2,633 Transactions 4,841 Usage 33 Specific 1,361 Usage 112,232 614 10,692 3,651 614 10,692 3,651 19.374 19,374 5,500 3,536 4,268 23,022 5,500 3,536 4,268 23,022 116,620 5,500 122,120 NET EXPENDITURE FOR THE YEAR This is stated after charging,. Depreciatlon Audit fees 2024 2023 4,268 5,500 4,841 2,700 ANALYSIS OF STAFF COSTS, TRUSTEE REMUNERATION AND EXPENSES AND THE COST OF KEY MANAGEMENT PERSONNEL Staff costs were £s follows.. Salaries, Wages and Consultancy Social Security costs Employee pension costs Total 2024 2023 146,065 10,448 2,267 118,139 9,358 2,154 158,780 No employee received emoluments of more than £60,000 during the period (2023 - nil). The average number of employees during the period was as follows.. 129,651 Service provislon 12 No members of the Management Committee received any remuneration or expenses during the year (2023 - none). The remuneration and benefits of the key management personnel in the year total £Nil (2023 - £Nil).
NOTES TO THE FINANCIAL STATEMENTS (Continued) For the year ended 30 September 2024 OPERATING LEASES COMMITMENTS Page 119 Less than 1 Year 2-5 Years More than 5 years Total 2024 2023 350 537 350 350 TANGIBLE FIXED ASSETS 887 Freehold Property Flxtures Computer & Flttings Equipment Total Cost At 1 October 2023 Additions Disposal 791,217 19,844 1,190 18,690 829,751 1,190 {330.000) 500,941 At 30 September2024 Depreciatlon At 1 October 2023 Charge for the period At 30 September 2024 Net Book Values At 30 Saptember 2024 At 30 September 2023 (330,000) 461,217 21,034 18,690 11,268 2.540 16.588 1,728 27,856 4,268 13,808 18,316 32.124 461,217 7,228 374 468,817 791,217 8.576 2,102 801,895 The charitable company owned freehold properties at 30 September 2024, one of which is classlfied as an Investment propety. In the accounts for the year ended 31 March 2019 the charitable company revalued the properfes to reflect their fair values. The revaluations for the properties were based on valuations carried out by Primer Olds {chartered surveyors) in April 2019. The properties are unencumbered with the exception of the propety in Southampion and Southampion and West Hampshire Health Authority have a legal charge over this propety representing a 22.43 % Interest in the propety. Investrnent Property Totsl Cost and Net Book Value At 1 October 2023 and 30 September 2024 190,000 190,000 10. DEBTORS Trade debtors Prepayments 2024 2023 9,899 8,634 Amounts owed by related socleties Social Care in Action - SCA Care 28.852 2,889 346,901 Total 99,921 365,434 131,664
NOTES TO THE FINANCIAL STATEMENTS (Continued) For the year ended 30 Septsmber 2024 11. CREDITORS: Amounts falling due within one year Page120 Trade creditors Other creditors Accruals Deferred Income PAYE Pension contributions Amounts owed by related societies Social Care in Action 2024 2023 8,505 21.509 18,407 7,785 8,371 45,600 2,177 417 1,940 461 1,205 Total 52,027 64,350 12. FINANCIAL INSTRUMENTS Flnancial instruments measured at amortlsed cost comprise the following.. 2024 Financial assets that are debt Instruments Financial liabillties that are debt instruments 2023 362,518 55,805 128,775 62.173 13. ANALYSIS OF CHARITABLE FUNDS At Incomlng Outgolng At 01.10.23 Resources Resources 30.09.24 Unrestricted Funds General Fund Revaluation ReseNe 825,640 288,888 333.363 8,005 Total Unrestricted Funds Total Funds (477.783) 681,220 296,893 (477,783) 978,113 (477,783) 978,113 1,114,528 341,368 1,114,528 341,368 Unrestricted Funds Unrestricted funds comprise the following funds which trustees are.. General fund - to use in accordance with the charitable objects and to fvnd the charitable company's net fixed assets properties. Revaluation reserve - arose as a result of the revaluation of the charitable company's investment properties and freehold Restrlcted Funds Restricted Funds are to be used for specrfic purposes as laid down by the donor. Prlor ear Unrestricted Funds General Fund Revaluation R8serye Total UnrestrlctedFunds TotalFunds At Incomlng Outyolng At 01.10.22 Resources Resources 30.09.23 923,048 358,888 265,326 (362. 734) (70,000) 825, 640 288,888 265,326 (432, 734) 1, 714.528 265.326 (432, 734) 1, 114,528 1.281,936 1.281.936
NOTES TO THE FINANCIAL STATEMENTS (Continued) For the year ended 30 September 2024 14. CAPITAL COMMITMENTS AS at 30 September 2024 there were capital commitments of £nil (2023 - £nil). 15. RELATED PARTIES Options Wellbeing Trust is a member of the SCIA group of social enterprises. The other members of the group are Social Care in Action, SCA Care, SCA Transport serViS, Southampton Healthy Living, Flat Spaces Foundation, Flat Spaces (Ropley) Ltd and The Steven James Practice. Ail charitsble companies and registered societies of the SCIA group of social enterprises are operated and managed on a unified basis. Options Wellbeing Trust undertook transactions wtth other related societies in the normal course of activities amounting to £Nil (2023.. £Nil}. At 30 September 2024. Optlons Wellbeing Trust had OLrtstanding balances with related societies as disclosed in Notes 10and11. 16. TAXATION As a registered charity, the income is generally exempt from Corporation Tax under Section 478 of the Corporation Taxes Act 2010 by reason of its charitable objects and activities. 17. PENSIONS Total cost relating to the defined benefit plans is recognised In the statement of financial activities as an expense. The pension Cost charge for the period represents conlrfbutions payable by the charitable company to the scheme and amounted to £2,267 (2023.. £1,703). Pension rules state that no liability will arise upon the company from the default of other pension Scheme members. 18. LEGAL STATUS OF THE CHARITABLE COMPANY The charitable company is limlled by guarantee and has no share capital. The liability of the member, in the event of winding.up, is limited to £10. 19. ULTIMATE CONTROL Options Wellbeing Trust is a member of the SCIA group of social enterprises. Social Care in Action is deemed to ullmalely be the parent body of the SCIA group of social enterprises a5 It can exercise domlnant influence over the charitable company. Soclal Care in Action is controlled by the Trustees, acting as Directors of the Charitable Company. The Trustees of Social Care in Action appoint and remove the Trustees to the Management Committees of all subsidiaries. Social Care in Aclion is a charitable company established under its Memorandum and Articles of Association and registered wlth the Charity Commission (1096903) and Companies House in England and Wales (04526806). Copies of the consolidated accounts can be obtained from ils principal address at 1 Paynes Road, Southampton, S015 3DL.