Nottingham Focus On Wellbeing
Charity No. 1150949
Trustees' Report and Unaudited Accounts
31 December 2024
Nottingham Focus On Wellbeing Contents
| Pages | |
|---|---|
| Trustees' Annual Report | 2 to 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 |
| Notes to the Accounts | 6 to 11 |
| Detailed Statement of Financial Activities | 12 |
Page 1
NOTTINGHAM FOCUS ON WELLBEING C.I.O. REG. CHARITY 1150949
TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDING DECEMBER 31, 2024
The Trustees present their report and the financial statements of the charity for the year ended 31 December 2024
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LEGAL STATUS AND GOVERNING DOCUMENT
Nottingham Focus On Wellbeing is a registered Charitable Incorporated Organisation and is governed by its constitution.
Trustees are appointed and subject to an induction process in accordance with the constitution.
OBJECTIVES AND STATEMENTS OF PUBLIC BENEFIT
In shaping the objectives for the year and planning activities, the trustees have considered the Charity Commission’s guidance on public benefit.
Our charity’s purposes as set out in the Objects contained in our constitution are to:
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To promote and preserve good health and relieve mental or physical illness in such ways as the trustees may from time to time decide.
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Such other purposes as are exclusively charitable according to the laws of England and Wales as the trustees may from time to time decide.
The aims of our charity are to improve and recover the wellbeing and emotional, mental, physical good health and spiritual health of people throughout our communities. We aim to achieve this through education, training and the provision of wellbeing services; peer support and activities which promote happiness, integration, volunteering opportunities, employment and the full involvement of recipient communities.
Our aims at all times reflect the purposes for which the charity was established.
EXECUTING OUR OBJECTIVES
We review our main objectives and activities regularly through our open scrutiny committee meetings, and annually through our Members and Trustees Annual General Meeting.
Our scrutiny committee is composed of members, trustees and volunteers who oversee every existing activity and proposed activity to ensure that it complies with our aims and objectives. Existing activities and services are reviewed and assessed to ensure that their objectives are obtained and that they are sustainable. We operate an “open door” policy where members are positively encouraged to come forward with their comments (good or bad), suggestions and ideas at any time, not just at formal meetings.
MAIN ACHIEVEMENTS DURING THE PERIOD
2024 saw a fresh start for Nottingham Focus On Wellbeing (NFOW), under the custodianship of the new board of trustees appointed at the 2023 Annual General Meeting. This followed the retirement of NFOW founder and trustee Mervin Goring and the last two remaining trustees.
The new trustees, all having lived experience of mental health problems, have brought a wide breadth of knowledge to the board including experience of volunteering for other organisations, managing volunteers and working in NHS mental health services.
Moving into NFOW’s second decade of existence, 2024 also provided an opportunity to take stock of our provision and to examine our goals and objectives. Funding continues to be a constant worry. Funding has been focussed on the repercussions of the cost of living crisis with little available for mental health. Fortunately, we started the year with fairly healthy finances as we had only one successful funding application in 2024. Some of our members regularly donate to NFOW by paying more than the basic charge for their group/activity and on a much smaller scale we still receive donations through easyfundraising and PayPal Giving.
Our website, www.nfow.org, and social media accounts continue to publicise the work of NFOW and generate enquiries about our work.
Sadly, problems with finances at Nottingham City Council have seen cuts to many of their services, including their Welfare Rights team which means, at least for the time being, we have lost our weekly community welfare rights session. We continue to help and support members as they navigate the benefit system.
Our links with local foodbanks have become increasingly important with more members being impacted by the cost of living crisis. We are a registered organisation to refer people to the local food banks.
THE FUTURE
Since the onset of Nottingham City Council’s financial problems we have lived with the uncertainty of what is going to happen to our base at Denton Green. Rumoured closures of community centres or management committees being responsible for full commercial costs have been circulating. Our situation at Denton Green Training Centre is different to the community centres in that we just hire rooms in a facility managed by the Council. We have decided we can only work on as usual and wait for the situation to resolve.
Therefore, fundraising for rent and general running cost continued to be our priority for 2024. Utility bills are included in our rent at present, and we have been told by our landlord (Nottingham City Council) that our rent will increase to account for the increases in energy prices.
We are still looking at the ways we publicise our groups to see if we can do it more effectively and attract more members.
THE TRUSTEES
The board of trustees is diverse and we feel represents the members and community that the project serves. We are still open to appointing more trustees, if interested in the aims and objectives of our organisation.
From 29 November 2023 the following people were elected as trustees:
Steve Boseley elected for 4 years Ian Dawson elected for 4 years Jackie Morley elected for 3 years Alieu Njai elected for 3 years Nicola Twamley elected for 2 years
The length of service was decided by pulling names out of a hat.
Nicola will be up for re-election, if she wishes, at the 2025 AGM.
Nottingham Focus On Wellbeing Statement of Financial Activities for the year ended 31 December 2024 Unrestricted funds Restricted funds Total funds Total funds 2024 2024 2024 2023 Notes Income and endowments from: Charita ble activities 1,467 1,000 2,467 15,576 Total 1,467 1,000 2,467 15,576 Expenditure on: Charita ble activities 1.827 10,113 11.940 12,002 Total 1.827 10.113 11,940 12,002 Net gains on investments Net (expenditure)/income Transfers between funds 13601 19,1131 {9,473) 3,574 Net (expenditure)/income before other gains/(losses) (360) 19,1131 {9,473) 3,574 Other gains and losses Net movement in funds 13601 19,1131 {9,473) 3,574 Reconciliation of funds: Total funds brought forward 4,789 11,338 16,127 12,553 Total funds carried forward 4,429 2,225 6,654 16,127 Page 4
Nottingham Focus On Wellbeing Balance Sheet at 31 December 2024 Charity No. 1150949 2024 2023 Fixed assets Tangible assets 589 879 589 879 Current assets Debtors Cash at bank and in hand 268 268 6,391 6,659 1594) 6,065 16,127 16,395 {1,147) 15,248 Creditors: Amount falling due within one year Net current assets Total assets less current liabilities 6,654 16,127 Net assets excluding pension asset or liability 6,654 16,127 Total net assets 6,654 16,127 The funds of the charity Restricted funds Restricted income funds 2,225 2,225 11,338 11,338 Unrestrirted funds General funds 4,429 4,789 4,429 4,789 Reserves Total funds 6,654 16,127 Approved by the trustees on 31 December 2024 And signed on their behalf by: N. Twamley Trustee 31 December 2024 Page 5
Nottingham Focus On Wellbeing Notes to the Accounts for the year ended 31 December 2024 l Accounting policies Basis of preparation The financial statements have been prepared in accordance with Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland IFRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland {FRS 1021 and the Charities Act 2011. Change in basis of accounting or to previous accounts There has been no change to the accounting policies {valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years. Fund accounting Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. These are unrestricted funds earmarked by the trustees for particular purposes. These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. Designated funds Revaluation funds Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal. Income Recognition of income Income is included in the Statement of Financial Activities {SoFAI when the charity becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SOFA. Donations and legacies Voluntary income received by way of grants, donations and gifts is included in the the SOFA when receivable and only when the Charity has unconditional entitlement to the income. Tax reclaims on Income from tax reclaims is included in the SOFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/llosses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/llosses) on investment assets This includes any gain or loss on the sale of investments. Page 6
Nottingham Focus On Wellbeing Notes to the Accounts Expenditure Recognition of expenditure Expenditure is recognised on an accruals basis. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Expenditure on These comprise the costs associated with attracting voluntary income. fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants a nd governance costs. All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid. These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs. Grants payable Governance costs Other expenditure These are support costs not allocated to a particular activity. Taxation The charity is exempt from tax on its charitable activities. Freehold investment property Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise. Stocks Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market. Trade and other debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash and cash equivalents Cash and cash equivalents comprise cash at bank and on hand. demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowi ngs or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management. Trade and other creditors Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Page 7
Nottingham Focus On Wellbeing Notes to the Accounts Research and development Expenditure on research and development is written off in the year in which it is incurred. Foreign currencies Monetary assets and liabilities denominated in currencies other than the funrtional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period. Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred. All exchange differences are are taken into account in arriving at net income/expenditure. Leased assets Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases. Assets held under finance leases are initially recognised as assets of the charity at their fair va lue at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs. Assets held under finance leases are depreciated in the same way as owned assets. Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis. Pension costs The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds. Receipt of donated goods. facilities and services All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity. Page 8
Nottingham Focus On Wellbeing Notes to the Accounts 2 Statement of Financial Activities- prior year Unrestricted funds Restricted funds Total funds 2023 2023 2023 Income and endowments from: Charitable activities 1,948 13,628 15,576 Total 1,948 13,628 15,576 Expenditure on: Charitable activitie5 425 11,577 12,002 Total 425 11.577 12,002 Net income 1.523 2,051 3,574 Net income before other gains/{losses) Other gains and losses: Net movement in funds 1,523 2,051 3,574 1.523 2,051 3,574 Reconciliation of funds: Total funds brought forward Total funds carried forward 3,266 9,287 12,553 4,789 11,338 16,127 3 Income from charitable activities Unrestricted Restricted Total Total 2024 2023 1,467 1,467 1,000 1,000 2,467 2,467 15,576 15,576 4 Expenditure on charitable activities Unrestricted Restricted Total Total 2024 2023 Expenditure on charitable octivities 1,827 10,113 11,940 12,002 Governonce costs 1,827 10,113 11,940 12,002 5 Staff costs No employee received emoluments in excess of £60,000. Page 9
Nottingham Focus On Wellbeing Notes to the Accounts 6 Tangible fixed assets Cost or revaluation At l January 2024 At 31 December 2024 Depreciation and impairment At l January 2024 Depreciation charge for the year At 31 December 2024 2,380 2,380 2,380 2,380 1,501 1,501 290 290 1.791 1,791 Net book values At 31 December 2024 589 589 At 31 December 2023 879 879 7 Debtors 2024 2023 Other debtors 268 268 268 268 8 Creditors". amounts falling due within one year 2024 2023 Accruals 594 1,147 1,147 594 9 Movement in funds Incoming resources At31 (including other At l January gains/losses 2024 Resources December expended 2024 Restricted funds: Restricted income funds: 11,338 1,000 110,113) 2,225 Total 11,338 1,000 110,113) 2,225 Unrestricted funds: General funds 4,789 1,467 {1,827) 4,429 Total funds 16,127 2,467 111,940) 6,654 Page 10
Nottingham Focus On Wellbeing Notes to the Accounts 10 Analysis of net assets between funds Unrestricted funds Total Fixed assets 589 589 Net current assets 6,065 6.654 6,065 6,654 11 Reconciliation of net debt At31 December At l January 2024 Cash flows 2024 Cash and cash equivalents 16,127 16,127 {9,736) {9,736) 6,391 6,391 Net debt 16,127 {9,736) 6,391 Page 11
Nottingham Focus On Wellbeing Detailed Statement of Financial Activities for the year ended 31 December 2024 Unrestricte d funds Restricted funds Total funds Total funds 2024 2024 2024 2023 Income and endowments from: Charitable activities 1,467 1,467 1,000 1,000 2,467 2,467 15,576 15,576 Total income and endowrnents 1,467 1,000 2,467 15,576 Expenditure on: Charitable activities 1,827 1,827 10,113 10,113 11,940 11,940 12,002 12,002 Total of expenditure on charitable activities 1,827 10,113 11,940 12,002 Total expenditure 1.827 10,113 11,940 12,002 Net gains on investments Net (expenditure)/income (360) 19,1131 19,4731 3,574 Net (expenditure)/income before other gains/(losses) Other Gains (360) 19,1131 19,4731 3,574 Net movement in funds (360} 19,1131 19,4731 3,574 Reconciliation of funds: Total funds brought forward 4,789 11,338 16,127 12,553 Total funds carried forward 4,429 2,225 6,654 16,127 Page 12