Registered number- 07419676
Charity number- 1138878
THE FOUNDATION FOR THE PROMOTION OF WELL-BEING
(A company limited by guarantee)
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

THE FOUNDATION FOR THE PROMOTION OF WELL-BEING
{A company limited by guarantee)
CONTENTS
Page
Reference and administrative details ot the Company. its Trustees and advisers
Trustees. report
Indopend8nt auditors. rèport on the financial statements
Statement of financial activities
10
Balance sheet
Notes to the financial statements
12-20

THE FOUNDATION FOR THE PROMOTION OF WELL-BEING
{A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 OCTOBER 2023
Trustees
E Goulandris
M Travis
Company registered
number
07419676
Charity registered
number
1138878
Registered office
First Floor 10 Queen Street Place
London
EC4R 1BE
Independent auditors
Larking Gowen LLP
Chartered Accounlanls
1 sl Floor, Prospect House
Rouen Road
Norwch
NR1 1RE
Investment Manager
Whitley Asset Management Ltd
116 Princedale Road
London
W114NH
Page 1

THE FOUNDATION FOR THE PROMOTION OF WELL-BEING
{A company limited by guarantee)
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 OCTOBER 2023
The Trustees present their annual report together with the audited financial statements of the Company for the
1 November 2022 to 31 October 2023. The Annual rekX)rt seNes the purposes of both a Trustees, report and a
directors, report under company law. The Trustees confirm that the Annual report and financial statements of
the charitable company comply with the current statutory requirements, the requirements of the charitable
company's governing document and the provisions of the Slalement of Recommended Practice ISORPI
applicable to charities preparing their accounts in accordance with the Finanaal Reporting Standard applicable
in the UK and Republic of Ireland IFRS1021 (effective 1 January 20191.
Since the Company qualifies as small under seelion 382 of the Companies Act 2006, the Strategic report
required of medium and large companie8 under the Companies Ael 2006 {Strategie Report and Directors,
Report) Regulations 2013 has been omitted.
Objeclives and activities
a. Policies and objectives
The objects of the charity are all purposes which are charitable under the laws of England and Wales from lime
to time.
In setting objectives and planning for aclivilies. the Trustees have given due consideration to general guidan
published by the Charity Commission relating to public benefit, including the guidance 'Public benefit.. running a
charity IPB21'.
b. Activities undertaken to achieve objectives
The charity is currently fLJllfilling ils charitable objectives by making grants to registered chalilies in the UK.
Grants totalling £Nil (2022,. £170,000) were awarded during the year as sel OLJt in note 6. Since the year end,
the trustees have been refining their grant giving policy going forward, and donations have increased Sin￿ the
year end, wth the expectation that this will continue.
During the year the charity continued to diversify and expand its investment portfolio in order to generate
investment income. The investment income will then be applied for charitable purposes. As a result of stock
market improvement during the year there was a revaluation surplus on the listed Investment portflio in the
year of £1,895,017 (2022.. £5,265,556 revaluation dèficit) giving rise lo a net increase in the value of the
endowment lund at the year end of £1,775.008 with expendable end(Iwment funds carried fo￿rd at 31
October 2023 of £28,029,183 (2022.. £26,254, 175).
Page 2

THE FOUNDATION FOR THE PROMOTION OF WELL-BEING
{A company limited by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
Achievements and performance
Financial review
a. Going concem
After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has
adequate reSoUr￿S to continue in operational existence for the foreseeable future. For this reason, they
continue to adopt the going concem basis in preparing the financial statements. Further details regarding the
adoption of the going eoncem ba￿8 can be found in the accounting policies.
b. ReseNes policy
The Trustees aim to build an expendable endowment fund reflecting an investment portfolio and Cash to
generate investment income which wll fund eharitablo activities. Al 31st October 2023 unrestricted funds
tolalled £387,605 (2022.. £173,469) and expendable endowment funds tolalled £28,029,183 (2022..
£26,254, 175).
c. Material investments policy
The charity holds a divetse portfolio of investments. The investment managers hold a cash balance for
reinvestment lo further ijiversify the portfolio.
Although the Trustees have the power to distribute the expendable endowment, the investment of capital is the
only source of ongoing income and so the fund is invested with the directive lo the inveslmenl managers that
the endowment should maintain ils value in real terms over the longer temi.
The Trustees aim is for the investments to generate 2-30/0 income each year.
Page 3

THE FOUNDATION FOR THE PROMOTION OF WELL-BEING
{A company limited by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
Structure. governance and management
Constitution
The Foundation for the Promotion of Well-Being is registered as a charitable company limited by guarantee
and was set up by a Memorandum of Association dated 2611012010.
b. Mathods of appointment or olection of Trustees
The management of the Company is the responsibility of the Trustees who are elected and co-opled under the
terms of the Memorandum of Association.
There shall be al least two Tnjstees.
Each Trustee shall retire from office at the fifth annual r81iremenl meeting following commencement of their
term. If the retirement of a Trustee causes the number of Trustees to fall below the minimum of two Trustees
then the retiring Trustee shall remain in office until a new appointment is made. The annual retirement meeting
shall be the meeting of the Trustees al which the accounts of the charity are adopted.
Statement of Trustoes. responslbllltles
The Trustees Iwho are also the directors of the Company for the purposes of company lawl are responsible for
preparing the Trustees, report and the financial statements in accordance Mqlh applicable law and United
Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practi￿1.
Company law requires the Trustees lo prepare financial statements for each financial year. Under company
law, the Trustees musl not approve the financial statements unless they are satisfied that they give a true and
fair view of the stale of affairs of the Company and of its incoming resources and application of resources,
including its income and expenditure, for that period. In preparing these financial stalemenls. the Trustees are
required lo..
select suitable accounting policies and then apply them congstently.,
observe the meth(￿S and principles of the Charities SORP IFRS 1021.,
make judgments and accounting estimates that are reasonable and prudent.,
stale whether applicable UK Accounting Standards IFRS 1021 have been followed, subject to any
material departures disclosed and explained in the financial slatemenls.,
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
Company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain
the Company's transactions and disclose with reasonable accuracy at any lime the financial position of the
Company and enable them lo ensure that Ihe financial statements comply with the Companies Act 2006. They
are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities.
Disclosure of information to auditors
Each of the persons who are Trustees al the time ￿en this Trustees. report 18 approved has confimied that..
so far as that Trustee is aware, there is no relevant audit infomiation of which the charity's auditors are
unaware, and
that Trustee has taken all the steps that ougm to have been taken as a Trustee in order to be aware of
any relevant audit information and to establish that the charity's auditors are aware of that information.
Page 4

THE FOUNDATION FOR THE PROMOTION OF WELL-BEING
{A company limited by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
Auditors
The auditors, Larking Gowen LLP, have indicated their wllingness to continue in office. The designated
Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.
Approved by order of the members of the board of Trustees and signed on their behalf by=
M Travis
Date.. 6 October 2024
Page 5

THE FOUNDATION FOR THE PROMOTION OF WELL-BEING
{A company limited by guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE FOUNDATION FOR THE
PROMOTION OF WELL-BEING
Opinion
We have audited the financial statements of The Foundation for the Promotion of Well-Being (the 'charilable
company'l for the year ended 31 October 2023 which comprise the Statement of financial activities, the
Balance sheet, the Statement of cash flows and the related notes, including a summary of ￿gnificant
accounting policies. The financial reporting framework that has been applied in their preparation is applicable
law and United Kingdom Accounting Standards, including Financial Reporb"ng Standard 102 'The Financial
Reporting Standard applicable in the UK and Republic of Ireland. (United Kingdom Generally Accepted
AccoLJnting Practice).
In our opinion the financi21 statements..
give a true and fair view of the slate of the charitable company's affairs as at 31 October 2023 and of its
incoming reSoU￿S and application of resour￿8. induding 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 requirements of the Charities Act 2011.
Basis for opinioTr
We conducted our audit in accordance ￿ll1h Inlemalional Standards on ALJditing (UK) IISAS IUKI} and
applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities
for the audit of the financial statements section of our report. We are independent of the charitable company in
accordance with the ethical requirement8 that are relevant to our audit of the financial statements in the United
Kingdom, induding the Financi81 Reporting Council'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 lo provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Trustees, use of the going concern basis of
accounting in the preparation of the financial statements is appmpriate.
Based on the work we have perfom)ed, we have not identified any material Un￿rtaInlieS relating to events or
conditions that, individually or collectively, may cast significant doubl on the charitable company's ability to
continue as a going concem for a period of al least twelve months from when the financial statements are
authorised for issue.
Our responsibilities and the responsibilities of the TrLJStees wlh respect to going concern are described in the
relevant sections of this report.
Page 6

THE FOUNDATION FOR THE PROMOTION OF WELL-BEING
{A company limited by guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE FOUNDATION FOR THE
PROMOTION OF WELL-BEING (CONTINUED}
Othor infomiation
The other information comprises the information included in the Annual report other than the financial
statements and our Auditors. report Ihereon. The Trustees are responsible for the other information contained
thin the Annual report. Our opinion on the financial statements does not cover the other information and,
except to the extent otherwise explicitly slated in our report, we do not express any form of assurance
conclusion thereon. Our responsibility is to read the other information and, in doing 80, consider wthether the
other information is materially Inconsistent wth 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 inconsisleneies
OT apparent material misslatemenls, we are required to determine whether this gives rise lo a material
misstatement 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 ￿quired to rewrt that fact.
We have nothing to report in this regard.
Matters on which we aro requlred to report by exceptlon
We have nothing lo report in respect of the following mallers where the Charities (Accounts and Reports)
Regulations 2008 requires us to report lo you if, in our opinion..
the information given in the Twslees. report is inconsistent in any material respect wth the financial
stalemenls., or
sufficient accounting records have not been kept,. or
the financial statements are not in agreement with the accounting records and returns,. or
we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the Trustees, responsibilities statement, the Trustees (who are also the directors of
the charitable company for the purposes of company lawl are responsible for the preparation of the financial
statements and for being s81isfied that they give a true and fair view, and for such intern81 control as the
Trustees detem)ine is necessary lo enable the preparation of financial statements that are free from material
misstatement. whether due to fraud or error.
In preparing the financial slatemenls. the Tnjslees are responsible for assessing the charitable companls
ability to continue as a going concem, disclosing, as applicable, mallers related lo going concem and using the
going concem basis of accounting unless the Trustees either intend to liquidate the charilable company or to
cease operations, or have no realistic alternative but to do so.
Page 7

THE FOUNDATION FOR THE PROMOTION OF WELL-BEING
{A company limited by guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE FOUNDATION FOR THE
PROMOTION OF WELL-BEING (CONTINUED}
Auditors. rosponsibilities for the audit of thg financial statgingnts
We have been appointed as aLJditor under section 145 of the Charities Act 2011 and report in accordance with
the Act and relevant regulations made or having effect Ihereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to iSSLJe an Auditors, report that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance ￿1th ISAS IUKI will always deteel a material misstatement when It exists. Misstatements can arise
from fraud or error and a￿ considered material if, individually or in the aggregate, they could reasonably be
expected lo influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance wlh laws and regulations. We design
procedures in line wlh our responsibilities. outlined above, to delect material misstalemenls in respect of
irregularities, including fraud. The exlenl to which our procedures a￿ capable of detecting irregularities,
including fraud is detailed below..
Due to the field in which the Charity operates, we have identified the following areas as those most likely to
have a material impact on the financial statements.. GDPR,. serious incident reporting and compliance with the
Charities Act 2011.
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities,
including fraud and non-compliance Mqlh laws and regulations, was as follows..
Enquiries with management about any known or suspected instances of non-compliance with laws and
regulations, accidents in the workplace and fraLJd.,
Reviewng financial statement disclosures and testing lo supporting documentation to assess the
compliance with applicable laws and regulations.,
Auditing the risk of management override of controls. including through testing journal entries and other
adjustments for appropriateness.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including
those leading lo a material misstatement in the financial ststemenls or non-compliance wth regulation. This
risk increases the more that compliance with a law or regulation is removed from the events and transactions
reflected in the financial stalemenls, as we will be less likely lo become aware of instances of non-compliance.
The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves
intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at.. MMw.frc.or
.uklauditorsres
onsibilities. This description forms part of our
Auditors, reFX)rt.
Page 8

THE FOUNDATION FOR THE PROMOTION OF WELL-BEING
{A company limited by guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF THE FOUNDATION FOR THE
PROMOTION OF WELL-BEING (CONTINUED}
Use of our rgport
This report is made solely lo the charitable company's members, as a body, in accordance ￿rith Part 4 of the
Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state
lo the charitable company's members those matters we are required to slate to them in an Auditors, ret)ort and
for no other purpose. To the fLJllest extent permitted by law, we do not accept or assume responsibility to
anyone other than the charitat￿e company 2nd its members, as a body, for our audit work, for this report, or for
the opinions we have formed.
Larking Gowen LLP
Ch8rtered Accountants
Statutory Auditors
1 sl Floor, Prospect House
Rouen Road
Norwich
NR1 1RE
7 October 2024
Larking Gowen LLP are eligible lo act as auditors in terms of section 1212 of the Companies Act 2006.
Page 9

THE FOUNDATION FOR THE PROMOTION OF WELL-BEING
{A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES IINCORPORATING INCOME AND EXPENDITURE ACCOUNTI
FOR THE YEAR ENDED 31 OCTOBER 2023
Unrestricted Endowment
funds
funds
2023
2023
Total
funds
2023
Total
funds
2022
Note
Income and endowments from:
Donations and legacies
Investments
7.856
277.794
7,856
277,794
3.313,061
161,376
Total income and endowments
285,650
285,650
3,414,377
Expenditure on:
Raising funds
Charitable activities
120,009
120,009
71,514
111,989
177.835
71,514
Total expenditure
71,514
120,009
191,523
289,824
Net incomellexpenditurel before net
gainsl{lossesl on investments
Nel gainslllossesl on investments
214,136
1120,009}
1,895,017
94,127
1,895,017
3. 184,553
(5.265,556J
Net movement In funds
214,136
1.775,008
1,989,144
(2.087,003)
Reconclllatlon of funds:
Total funds brought forward
Net movement in funds
173,469
214,136
26.254,175
1,775,008
26,427,644
1,989,144
28,508,647
(2,081,003J
Total funds carrled forward
387,605
28,029,183
28.416,788
26,427,644
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 12 to 20 form part of Ihese financial stalemenls.
Page 10

THE FOUNDATION FOR THE PROMOTION OF WELL-BEING
{A company limited by guarantee)
REGISTERED NUMBER: 07419676
BALANCE SHEET
AS AT 31 OCTOBER 2023
2023
2022
Note
Fix8d assats
Investments
27.201,250
25.298,448
27,201,250
25,298,448
Current assets
Debtors
Cash al bank and in hand
10
500.000
725.000
562,500
575.000
1,225,000
1, 137,500
Creditors.. amounts falling due within one
year
19,4621
(8,304)
Net Current assets
1.215,538
1, 129, 796
Total net assgts
28.416,788
26,427,644
Charity funds
Endowment funds
12
28,029,183
387,605
26,254, 175
173,469
Unrestricted funds
12
Total funds
28,416,788
26,427,644
The Trustees acknowledge their responsbilities for complying with the requirements of the Act with respect to
accounting records and preparation of financial slalements.
The financial statements have been prepared in accordance with the provisions applicable lo entities subject to
the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by..
M Travis
Dale.. 6 October 2024
The notes on pages 12 to 20 form part of these financial stalemenls.
Page 11

THE FOUNDATION FOR THE PROMOTION OF WELL-BEING
{A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
Accounting policies
1.1 Basls of preparatlon of flnanclal statements
The financial statements have been prepared in accordance with the Charilies SORP IFRS 1021
Accounting and Reporting by Charities.. Slaternent of Recommended Practice applicable to charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 1021 leffeclive 1 January 20191, the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006.
The Foundation for the Promots'on of Well-Being 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 slated in the relevant accounting policy.
1.2 Fund accountlng
General funds are unreslricled funds thich are available for use at the discretion of the Trustees in
furtherance of the general objectives of the Company and which have not been designated for other
purposes.
The endowment funds held by the charity are expendable and, as such, can be spent as income or
retained as capital at the trustees, discretion. The income arising from the expendable endowment is
unrestricted.
Gains and losses on investments are allocated to their fund or origin.
1.3 Income
All income, including investment income, is recognised once the Company has entillemenl to the
income, it is probable that the income will be received and the amount of income receivable can be
measured reliably.
Donations in cash are recognised as the consideration paid at the date the donation was made.
Donated shares are recognised at the markel value of the shares al the date which the donation was
made.
Income tax recoverable in relation lo donations received under Gift or deeds of covenant is
recognised al the lime of Ihe donation.
Income tax recoverable in relation to inveslmenl income is recognised al the time Ihe investment
income is receivable.
Page 12

THE FOUNDATION FOR THE PROMOTION OF WELL-BEING
{A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
Accounting policies {continugd)
1.4 Expgnditure
Expenditure is recognised once there is a legal or constructive obligatii)n to transfer economic
benefit to a third party, il is probable that a transfer of economic benefits ￿ll11 be required in
settlement and the amount of the obligation ran be measLJred reliably. Expenditure is classified by
activity. The costs of each activity are made up of the total of direct costs and shared costs,
inclLJding support cost8 involved in undertaking each activity- Direct costs attributable to a single
activity are allocated directly to that activity. Shared costs which contribute to MO￿ than one activity
and support costs which are not attributable to a single activity are apportioned between those
activities on a basis consistent wth the use of resources. Central staff costs are allocated on the
basis of time spent, and depreciation charges allocated on the portion of the asset's use.
Expenditure on raising funds includes all expenditure incurred by the Company lo raise funds for its
Charitab￿ purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the
Company's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the
offer is conditional, such grants being recognised as expenditure when the conditions allaching are
fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as
a commitment, but not accrued as expenditure.
All expenditure is inclusive of irrecoverable VAT.
1.5 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured
reliably by the Company., this is normally upon notification of the interest paid or payable by the
institution with whom the funds are deposited.
1.6 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their
transaction cost and subsequently measured al fair value al the Balance sheet dale, unless the
value cannot be measured reliably in ¥thich case it is measured at cost less impairment. Investment
gains and losses, whether realised or unrealised, are combined and presented as 'GainsllLossesl on
investments. in the Statement of financial activities.
1.7 D8btors
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
Prepayments are valued al the amount prepaid net of 2ny trade discounts due.
1.8 Cash at bank and in hand
Cash at bank and in hand indudes cash and short-tenn highly liquid investments wlh a short
maturity of three months or less fmm the date of acquisition or opening of the depost or similar
account.
Page 13

THE FOUNDATION FOR THE PROMOTION OF WELL-BEING
{A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
Accounting policies {continugd)
1.9 Liabilitigs and provisions
Liabilities are recognised when there is an obligation at the Balan￿ sheet date as a result of a past
event, it is probable that a transfer of economic benefit will be required in selllement, and the
amount of the setuemenl can be eslimaled reliably.
Liabilities are recognised al the amount that the Company anticipates il will pay to settle the debt or
the amount it has received as advanced payments for the goods or services it musl provide.
Provisions are measur￿1 al the best estimate of the amounts required to settle the obligation.
Where the effect of the lime value of money is materi81, the provision is based on the present value
of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the
liability- The unwnding of the discount is recognised in the Slalement of financial activities as a
finance cost.
1.1 O Financial instrumgnts
The Company only has financial assets and financial liabilities of a kind that qualify as basic
financial instruments. Basic financial instruments are initially recognised al transaction value and
subsequently measured al their settlement value with the exception of bank loans which are
subsequently measLJred at amortised cost using the effective interest method.
Page 14

THE FOUNDATION FOR THE PROMOTION OF WELL-BEING
{A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
Income from donations andlogacies
Unrastricted Endowment
funds
funds
2023
2023
Total
funds
2023
Donations
7,856
7,856
UnrestriGt8d Endowment
funds
funds
2022
2022
Total
funds
2022
Donations
8,417
3,304,650
3,313,067
Investment income
Unrastricted
funds
2023
Total
funds
2023
Total
funds
2022
Dividend inwmg
Investment income- interest
169,717
108,077
169,717
108,077
99,069
62,247
277,794
277,794
161,316
Total 2022
767,316
161,316
Investment managem8nt costs
Endowment
funds
2023
Total
funds
2023
Total
funds
2022
Inve*ment management fees
120,009
120,009
111,989
Tot812022
If 1,989
111,989
Page 15

THE FOUNDATION FOR THE PROMOTION OF WELL-BEING
{A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
Analysis of oxpenditure on charitsble activities
Summary by fund typg
Unrastricted
funds
2023
Total
2023
Total
2022
Independent examinerfs fee
Grants made to institutions
Gift Aid adjustment
Legal and professional fees
7,952
7,952
6,240
170,000
62,500
1,062
62.500
1,062
1.595
71,514
71,514
177,835
Analysls of expendlture by actlvltles
Support
costs
2023
Total
funds
2023
Dlrect costs
2023
Independent examinerfs fee
Gift Aid adjustment
Legal and professional fees
7.952
7,952
62,500
1,062
62,500
1,062
62,500
9,014
71,514
Grant
funding ol
8ctivrfies
Support
costs
Total
funds
2022
2022
2022
Independent examinerfs fee
Grants made to institutions
Legal and professional fees
6,240
6,240
170.000
1,595
ITO.O(
1,595
170,0(10
7, 835
177,835
Page 16

THE FOUNDATION FOR THE PROMOTION OF WELL-BEING
{A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
Auditors. rgmuneration
2023
2022
Fees payable lo the charity's auditor for the audit of the charity's annual
accounts
7,952
Fees payable lo the charttls independent examiner in respect of..
Independent examiner for the independent examination of the charity's
annual accounts
All non-audit services not included above
6,240
7,595
1.062
Trustees. remuneratlon and expenses
During the year, no Trustees received any remuneration or other benefits (2Q22 - £NIL).
During the year ended 31 October 2023. no Trustee expenses have been incurred (2022- £NILJ.
Flxed asset Investments
Listed
investments
Valuation
At 1 November 2022
Additions
Disposals
Revaluations
Movement in cash held for reinvestment
25,298,448
5.227,583
{4.725,062}
1.925,502
1525,221}
At 31 October 2023
27,201,250
Page 17

THE FOUNDATION FOR THE PROMOTION OF WELL-BEING
{A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
Invostments at market value comprisg:
2023
2022
Listed investments
Cash held for reinveslmenl
22,851,239 20,423,216
4.350,011
4,875,231
27.201.250 25,298,447
The historic cost of fixed asset investments at 31 October 2023 is £18,344,747 (2022.. £16,215, 167).
Non-UK Investments
Listed inveslmenls include non-UK investments with a market value al the year end of £10.215,483
(2022.. £9,409,808) and an historical cost of £6,531,401 (2022.. £6,029,373).
Cash
Cash held within the investment portfolio is £4,350,011 f2922.' £4,875,231).
10. Debtors
2023
2022
Due within one year
Gift aid recoverable
500,000
562,500
11.
Creditors- Amounts falling due within one year
2023
2022
Accruals and deferred income
9,462
8,304
Page 18

THE FOUNDATION FOR THE PROMOTION OF WELL-BEING
{A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
12. Statement of funds
Statement of funds - curront year
Balance at 1
November
2022
Balancè at
Gainsl 31 October
(Losses)
2023
Income Exp8nditure
Unrestricted funds
General Funds
173,469
285,650
{71,514)
387,605
Endowment funds
Expendable Endowment Fund
26,254.175
1120.009} 1.895.017 28.029,183
Total of funds
26,427.644
285.650
1191.523} 1.895,017 28.416,788
Statement of funds - prior year
Balance at
l November
2021
Balance at
Gainsl 31 October
(Losses)
2022
Income Expenditure
Unrestricted funds
General Funds- all funds
181,577
169, 727
(177,835)
173.469
Endowment funds
Expendable Endowment Fund
28,327,070
3,304, 650
(111, 989) (5,265, 556) 26,254, 175
Total of funds
28,508,647
3,474,377
(289, 824) (5,265, 556) 26,427,644
Page 19

THE FOUNDATION FOR THE PROMOTION OF WELL-BEING
{A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
13. Analysis of net assgts between funds
Analysis of net assgts between funds - currgnt ygar
Unrastricted Endowment
funds
funds
2023
2023
Total
funds
2023
Fixed asset inv2slmenls
Current assets
Creditors due within one year
27.201.250 27,201,250
827,933
1.287,500
171,962}
459,567
171,962}
Total
387,605 28.029.183 28,416,788
Analysis of nel assets between funds - prior year
Unrestricted Endowment
funds
funds
2022
2022
Total
funds
2022
Fixed assel investments
Current assets
Creditors due within one year
25,298,448 25,298,448
955, 727
1. 137,500
(8,304J
187, 773
(8,304)
Total
113,469 26,254, 175 26,427,644
14. Related party transactions
During the year trustee M Travis settled professional fees on behalf of the Charity totalling £7,856 (2022..
£8.411). These amounts are rec￿nISed as donations as set out in note 2.
15. Controlling party
The immediate and uttimale parent entity of the charity is HWB Ventures Limited by virtue of the
company being sole member of the Charity and its right to appoint or remove ttuslees aeling in the best
interest of the Charity. HWB Ventures is a dormant company whose purpose is to act as the sole
member of the charity. The only share issued by HWB Ventures Ltd is held by trustee M Travis.
Page 20