2022-08-31-accounts

Charity Registration No. 1170218

WOODWORK TO WELLNESS

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

WOODWORK TO WELLNESS

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Charity number

Mr A W Roberts

Mr F G Stephens Ms S R Edwards Ms M S Streeter Ms J M McCormick Mr N Griffiths Mr S Hayes

1170218

(Appointed 8 October 2021)

(Appointed 8 April 2022) (Appointed 16 May 2023)

WOODWORK TO WELLNESS

CONTENTS

	Page
Trustees' report	1
Independent examiner's report	2
Statement of financial activities	3
Balance sheet	4
Notes to the financial statements	5 - 9

WOODWORK TO WELLNESS

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 AUGUST 2022

The trustees present their annual report and financial statements for the year ended 31 August 2022.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance Financial review

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The charity is a charitable incorporated organisation.

The trustees who served during the year and up to the date of signature of the financial statements were: Mr A W Roberts

Mr F G Stephens (Appointed 8 October 2021) Ms S R Edwards Ms M S Streeter Ms J M McCormick Mr N Griffiths (Appointed 8 April 2022) Mr S Hayes (Appointed 16 May 2023)

Supplier payment policy

The company's current policy concerning the payment of trade creditors is to follow the CBI's Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1DU).

The company's current policy concerning the payment of trade creditors is to:

• settle the terms of payment with suppliers when agreeing the terms of each transaction;

• ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in contracts; and · pay in accordance with the company's contractual and other legal obligations.

The Trustees' report was approved by the Board of Trustees.

Mr A Roberts

21 June 2023

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WOODWORK TO WELLNESS

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WOODWORK TO WELLNESS

I report to the trustees on my examination of the financial statements of Woodwork to Wellness (the charity) for the year ended 31 August 2022.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting

Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

• 1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or

• 2 the financial statements do not accord with those records; or

• 3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Susanna Cassey ACA, FCA Azets

Dated: 21 June 2023

STATEMENT OF FINANCIAL ACTIVITIES

INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2022

	Unrestricted	Unrestricted
	funds	funds
	2022	2021
Notes	£	£

Income from:

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WOODWORK TO WELLNESS

Donations and Grants 2 Other trading activities 3 Total income Expenditure on: Charitable activities 4 Net expenditure for the year/ Net movement in funds Fund balances at 1 September 2021 Fund balances at 31 August 2022 The statement of financial activities includes all gains and losses recognised in the year.	43,668 ~~6,021~~ 49,689 56,038 (6,349) 24,645 18,296	52,247 ~~1,421~~ 53,668 54,133 (465) 25,110 24,645

All income and expenditure derive from continuing activities.

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WOODWORK TO WELLNESS

BALANCE SHEET

AS AT 31 AUGUST 2022

Fixed assets Notes Tangible assets Current assets 7 Debtors 8 Cash at bank and in hand Creditors: amounts falling due within one year 9 Net current assets Total assets less current liabilities Income funds Unrestricted funds	2022 £ 1,301 19,809 21,110 (5,851)	£ 3,037 15,259 18,296 18,296 18,296	2021 £ £ 2,353 1,299 26,447 27,746 (5,454) 22,292 24,645 24,645 24,645

The financial statements were approved by the Trustees on 21 June 2023

Mr A Roberts

Trustee

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2022

1 Accounting policies

Charity information

Woodwork to Wellness is a charitable incorporated organisation which is not a company incorporated under the Companies' Acts; it is therefore not subject to company regulation.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the

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WOODWORK TO WELLNESS

Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard

applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with

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WOODWORK TO WELLNESS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment 20% on cost Computers 20% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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WOODWORK TO WELLNESS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Donations and Grants

	UnrestrictedUnrestrictedfunds	UnrestrictedUnrestrictedfunds
		funds
	2022	2021
	£	£
Donations and gifts	18,927	23,139
Grants	17,567	26,507
Membership fees	7,174	2,601
	43,668	52,247

3 Other trading activities

UnrestrictedUnrestricted	funds
	funds
2022	2021
£	£

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WOODWORK TO WELLNESS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

Shop income 4 Charitable activities Staff costs Depreciation and impairment Purchases Rent Rates and water charges Light and heat Motor and travel Insurances Telephone and Internet Postage, printing and stationery Repairs and renewals Cleaning and sundry Governance costs Professional fees Accountancy	6,021 2022 £ 24,556 1,904 2,036 8,955 1,038 7,577 459 245 788 255 1,367 1,002 168 5,058 630 56,038 56,038	1,421 2021 £ 25,160 2,274 1,610 11,940 1,038 4,681 635 - 1,316 65 777 329 93 3,615 600 54,133 54,133

5 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

6 Employees

The average monthly number of employees during the year was:

	2022	2021
	Number	Number
	1	1
Employment costs	2022	2021
	£	£
Wages and salaries	24,001	25,160
Other pension costs	555	-

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WOODWORK TO WELLNESS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

				24,556	25,160
	6	Employees			(Continued)
		There were no employees whose annual remuneration was more than
		£60,000.
	7	Tangible fixed assets
			Plant and	Computers	Total
			equipment
			£	£	£
		Cost
		At 1 September 2021	9,978	1,391	11,369
		Additions	2,220	369	2,589
		At 31 August 2022	12,198	1,760	13,958
		Depreciation and impairment
		At 1 September 2021	8,139	878	9,017
		Depreciation charged in the year	1,643	261	1,904
		At 31 August 2022	9,782	1,139	10,921
		Carrying amount
		At 31 August 2022	2,416	621	3,037
			1,839	514	2,353
	At 31 August 2021
8	Debtors
				2022	2021
	Amounts falling due within one year:			£	£
	Trade debtors			1,301	1,299
9	Creditors: amounts falling due within one year
				2022	2021
				£	£
	Other taxation and social security			4,613	4,854
	Other creditors			608	-
	Accruals and deferred income			630	600

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WOODWORK TO WELLNESS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2022

5,851 5,454

10 Related party transactions

There were no related party transactions in the year (2021 - none).

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