Company iegislration number. 10524700 Charity registral*)n numbfrr.. 1172401 The Livewell Foundation IA company limited by guarantee} Annual Report and Financlal Statements for the Year Ended 31 March 2024 WESTCOTTS CII*NTIAID ACCOVIIIAIIT 4 OUSIIIISI IOVISIAS The Livewell Foundation Contents Trustees, Report Independent Examinerfs Report statement of Financial Activities Balance Sheet Slalement of Cash Flow8 Notes lo the Financial Slalemenls 71015 The Livewell Foundation Reference and Administrative Details Chalrman Christopher Davies Trustees Christopher Davies Rachel M8rshall Morris Watts Kay O'Sh8ughnessy Oliver Jaekman Geoffrey Baines Jill Davies, [v￿e Chairl Nakul Puri, (Treasurer) Amie Carr Juliet Simmons Charlty R8gl8tratlon Numb&r 1172401 Company Roglstratlon Number 10524700 Rgglsterod Offlc• Local Care Centre 200 Mount Gould Road Mount Gould Ptymoulh Devon PL4 7PY Aud5tor Adam Croney IACAI Weslcotts Independent examlner Ptym House 3 Longbridg8 Ro& Ptymoulh Marsh Mills Devon PL6 8LT Page ? The Livewell Foundation Trustees. Report Statsrnent of Iru8ts¢3' r¢sponslbllltles The tNstees (who are also the direclor5 of The Llvewell Foundatlon for the purposes of company lawl are responsible for preparing Ihe Iru31ee$' report and the financial statements in accordance with applicable law and United Kingdom Accounting Slandards Iunited Kingdom Generally Accepted Accounting Practicol. indud5ng FRS 102 'The Finanaal Reporting Standard applicable in the UK and Republlc of Ireland.. Company law fequire8 Ihe iruslees to prepare finandal 5t3tements each finandal year. Under company law the trustee5 must not Jpprove th8 finanual slalements unless they are satisfied that they glve a tNe and tsir vlew of the State ol affairs of the charitable company and ol thè Incoming resources and appllcatson of resou￿e￿, Including its income and eypenditure, of the chaiilable company forthat pgriod. ITh preparing these finanryal 5talernent5, the trustees are requSred to.. Select sult8ble accounting poliryes and apply them cons18lently.' obserye the rnelhods and princlples in tho charl￿e5 SORP: rnake judgement¥ and estimates thal are ￿0$o￿able and prudent., state whether applicablE accounUn9 Standards. cDm￿s5n0 FRS 102 have been followed. sublect to ?ny material departures di5do8ed and explained In the financial statements., and pr?parg the finandal slalern8nts on tha golng concern basis unless it Is inappropriate to presume that the tharflable eompany wlll conunue In builnesg. The trustees ar8 responslble lor keeplng proper accounting recards that can dlsdose wbth réasonable acGura¢y ai any Ilme the financial posluon of the chadlable company and enable Ihem lo ensure ihat the finandal 3tatemelllg cornply wlth th* Con¥Janle8 Act 2006. They artt 81$0 responsible for Bafeguarding thB as5et$ of the charitable company and hanee for lakln9 reasonable $iep$ for the prev?nlIon and detection of fi?ud and oiher Irregula￿lIes. Tho trustees are respon$Sble for the mainlenancè and Integrlty of the corporale and finandal Snfomiatlon Induded on tha ch8ritablo company's w#bsite. Legislation goveming the prepardtion and dlssemlnatSon olfinanaal 8tAtementg may differ Irom leglslation In other lurisdl¢thonB. 018closure of Inforniitlon to audltor Each trusiee has taken step3 Ih8t they ought to have taken as a trustee In order lo make Ihem5elve$ of any r¢levanl audli Inlomiauon and to establish Ihal the tharity's auditor Is awar& ol that Inlormatlon. The trustees confimi that there IB no relevant Inlorm8tion that they know ol and ol whl¢h Ihey know the auditor is unawarè. The annual report was approved by the InJJtee8 Ot the charlty on behall by: rsd sl9ned on Its Christop Chairrn Nakul Pu TrE?Su￿r nd Trvslee nd TNsl¢e Page 2 The Livewell Foundation Independent Examiner's Report to the trust8es of The Livewell Foundation I'the Company, I report to the charity Iruslees on my examination of the accounts of the Company for the year ended 31 March 2024. Responsibilitie5 and basis of report As the charty's Iruslees of the Company land also ils diredors for the purposes of company lawl you are re8ponsible for the preparation of the accounts in accordance with the requiremènts of the Companies Act 20061'lhe 2006 Act'l. Having satisfi'ed myself that the aceounls of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent ex8min81ion, I report in respect of my examination of your charity's accounts as carrled out under section 145 of the Charrties Act 2011 I'lhe 2011 Acl'l. In carrying out my examination I have folk)wed the Directions given by the Charty Commission undgr Section 14515llbl of the 2011 Act. Indèpendent examlner's ststement I have completèd my examination. I confimi that no matter8 havg come to my attention in connectlon with the examination giving me cause to believe.. 1. accounting records were not kept in rgspocl of The Llvewell Foundalh)n as required by section 386 of the 2006 Act", or 2. the accounts do not accord with Ihose records., or 3. the accounts do not comply with the accounting fequiremenls of sedion 396 of the 20CÉ Act other than any requirement that the aceounls 9ive a 'lrue and fair view, which is not a matter considered as part of an independent examination,. or 4. the accounts have not been prepared in accordance with the methods and prfnclples of the Statement of Recommended Practice for accounting and reporting by charities applicable lo charities preparing their accoun18 in 8ccordBnce with the FiDanci81 Reporting Sland8rd pplicable in the UK and Republic of Ireland IFRS 102}, I have no concems and have come across no olhar matters in connection wrth the examination lo which attention should be drawn in this report in order lo enabk a proper understanding ol the accounts to be reached. Adam Croney IACA) Independent examiner Westcotts (SWI LLP Plym House 3 Longbridge Road Plymouth Marsh Mills Devon PL6 8LT Date.. Page 3 The Llvewell Foundation Statement of Financial Activities for the Year Ended 31 March 2024 (Including Income and Expendlture Account and Statement of Totsl Rgcognised Gains and Losses) Unr•stricted funds Rèstrlcted funds Totsl 2024 Total 2023 Note Income and Endowmènts from: Donations and legacies Charitable aclivilies 118.768 635 118,768 635 112.556 Totsl income 119.4Q3 119,403 112,556 Expgnditur• on: Charitable aclNf(ies 1157.4101 1126,6581 284,C68} {124,7191 Tot81 expenditure {157.4101 1126,6581 1284,C68 {124,7191 Net axp8ndilure Transfers between funds 138,007} 17,004 1126,6581 17.004 1164,665 112,1631 Net movement in funds {21,003} 1143,6621 1164,8651 112,1631 Reconclllatlon of fund¥ Total lunds brought forward Total lunds carrled forward 10 264,948 218,124 72,462 481.072 493,235 243,945 316.407 481,072 All of the ch8rity'8 aclivili88 defive from conlinulng operation8 during the above two periods. Th8 funds breakdown for 2023 8nd 2024 IB shown in note 10. The notes on pages 7 to 15 form an integral part of these financial statements. Page 4 The Livewell Foundation (Registration number: 10S24700 Balance Sheet as at 31 March 2024 2024 2023 Nole Current assets Cash at bank and in hand 370,289 498,076 Credltors: Amounts falllng duo wlthln on• y•ar 153,8B21 117,0041 Net as$ots 316,407 481.072 Funds of thv charlty: R•sirlcted Incomp fvnds Restricted fund• 72.462 216,124 Unrastrlct•d Income fund• Unre5fficted lund5 243,945 264,948 Totsl lund• 10 316.407 481,072 For the finandal year endln9 31 March 2024 the charfty was ènljtlod lo exempllon from audit under sectlon 477 of thè CompanSes Act 2006 relating lo $mzll companies. Dlreclors. re8ponslb1l1￿e9'. The members hav? not r•gulred the ch&rlty lo cètaln •n audit of It$ accovnts for Ihe year in questlon In acwrdAnce wth sectlon 476.. and The d1￿CtorS ackn￿￿edge Ihelr Te3pgnsibllllles for complylng with Ihe requlremenlj olth• Aciwth r•spect to accountlng records and the preparaiton of accounts. The finandal Statements on p?9?5 4 to 15 were approwd by the bwstees, an¢J outhorfsed for Issue on nd slgned on Ir behalf by.. Christop er Davies Chalmian and Trustee Nakvl Purf Treasurer Ènd Truslee The note5 on pages 7 10 15 lom an integral part ol Ihe5• flnanaal slaiernenls. Page S The Livewell Foundation statement of Cash Flows for the Year Ended 31 March 2024 2024 2023 Note Cash flows from operating actlvities Nel cash expenditure 1164,6651 (12.163) Working tapltsl adjustments Incre88e In creditors 36,878 1,598 Nel cash fl¢)ws from operating activrt￿s 1127,7871 {10,565) Net decrease in cash and cash equivalents Cash and cash equivalents 011 April Cash 8nd cash equivalenl¥ al 31 March 1127,7871 498,076 {10,565} 508,641 370.289 498.076 All of the cash flows are derfv8d from eonllnulng op8ration8 during the above tr40 period8. The notes on pages 7 to 15 form an integral part of these financial slatemenls. Page 6 The Livewell Foundation Notes to the Financial Statem8nts for the Year Ended 31 March 2024 1 Charity status The charity is a public benefit entty and a private company limlled by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of ils registered office is.. Local Care Centre 200 Mount Gould R08d Mount Gould Ptymoulh Devon PL4 7PY 2 Accountlng pollcl88 Statemènt of compllance The financial slalemenls have been prep8red In accordance wf(h Accounting and Reporting by Ch8rrtie8'. Slalemenl ol Recommended Pracllce (applicable to charit￿5 preparing their accovnls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211 (issued in Oclther 20191 (Charilies SORP IFRS 10211. the Financial Reporting Standard applicab￿ in thè UK 8nd Republic of Ireland IFRS 10218nd the Companies AGt 20C6. The Livewell FoUndat￿n meets the definition of 8 public benefit enllly under FRS 102. Assets and li8bilit￿S are ini118lly recognised al hislori&i1 G¢)s1 or transaction value unless otherwise slated in Ihg relevant accounling policy notes. 8a818 of preparatlon The financial statements have been prepared on the historical cost basis. The Ilnanclal statements are prepared in sterling, whleh Is the functlonal currency of the entity. Golng Goncèrn There 8re no melerial uncertainlie8 oboul the ¢haritl3 abilty to conllnue. Fund structure Unrestricted income funds are general funds that are avallable for u8e * the tfustees discretion in further8￿￿ of the objectives of the chanty. Designated lunds are unrestricted funds sel aside for specific purposes 81 the discielion of the Iruslees. Restricted inwme funds are those donated for use in a particular orea or for specific purposes, the use of which is restricted lo that area or purpose. Page 7 The Livewell Foundation Notes to the Financial Statements for the Year Endod 31 March 2024 The Mount Gould Legacy has been reslricled in accordance with legal ajvice relating to the terms of the Will of the donor. Other reslricled funds have been transferred into the Lwewell Foundatic)n by Plymouth Hospitals Charty The Livewell Foundation has accepted the restrictions applied to these funds by Plymouth Hosprtals Charity 8nd will continue to administer them on the same basis. All other funds are unrestricted and are hekl in designated funds in &cordance with the wishes of the donors. There are no material estimates contained within these financial statements that couhd give rise lo eslimalion uncertalnty. Income and endowments All income is recognised once the Charity has enlitlgmenl lo the income, il is probabl8 that the income will be received and the 8mounl of the income receivable can be me8sured reliably. Donatlons and legaeles Income from donated goods is measured al the fair value of the goods unless this is impractical lo measure reliably. In which case the value is derived from the cost to the donor or the eslim81ed resale valu8. Donated facilili8s and services are recognised in the accounts when received if the value Gan be reliably measured. No amounts are included foi the conlribulion ol g¢neral volunteers. Lega income is recognised when receipt is probable and enlitlemenl is established. Gmnts rècdv8bl• Granls are included in the 81atemenl of financial Bclivrties on a receivable basls. The balance of income received for specific purposes bul not expended during the pertod is $h¢)wn in the relevant funds on the balance sheet. Where income is ￿ceiVed in adv8nce of enlillemenl of receipt, ils recognition is deferred and included in creditors are deferred income. Where enlillement occurs before income is received, the income is a￿rued, Donated servl¢es and f•cllltles Income from contracts for the supply of services is recognised wrth the delivery of the contracted 8erviee. This is classilied as unreslricled funds Unless Ihgre is a wnlraclual rèquirement for (( lo be spent on a particular purpose and Tetumed rf unspent. in which case il may be regarded as restricted. Expendlturo Expenditure is recognised on an accru818 basis as a liability is incurred. Expenditure includes any VAT which cannot be fully rgcovgred, and is cla55ihed under headings of the slalement of financial activities lo wh￿h it relates. Ralslng funds Expenditure on raising funds includes the costs of 811 fundraising adivilies, events, non3nised at the amount receivable or payable including any related transaction costs. Current assets and current liabllilles are subsequent￿ me8sured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Page g The Livewell Foundation Notes to the Financial Statements for the Year Ended 31 March 2024 Crltlcal accountlng estlmates and areas of Judgement The Mount Gould Legacy has been reslricled in accordance wlh legal advice relating lo the terms of the Will of the donor. Other reslricled funds haven't been transferred into the Livewell Foundation by PlymoLrth Hosprt818 Charity. The Livewell Foundation has accepted the restrictions applied lo Ihe$e funds by Plymouth Hospitals Charity and will continue lo administer them on the same basis. All other funds aTe unrestricted and are held in designated funtjs in accordance wf(h the wishes of the donors. There are no material esllmates conlaSned wilhln these finanelal slalements that could giv8 rose to estimation uncertainly. 3 Income from donatlons ond legacle3 Unrestrlctsd funds Doglgnat•d G0n8ral Totsl 2024 Totsl 2023 Donations Grants from other charities 2,687 16,081 100,000 18,768 100,000 12,556 100,000 2,687 116,081 118,768 112,556 4 InGorno from Gharltablg artlvltlo9 Unrnstrlct•d funds General Total 2024 Total 2023 Charftable actNrti88 63S 635 Page 10 The Llvewell Foundatlon Notes to the Financial Statements for the Year Ended 31 March 2024 5 Ex￿ndItUre on charitable activities Unrestrkted fund¥ Deslgnated Genoral Restrlcted funds Total 2024 Total 2023 General Funds Mount Gould Legacy Plym Neuro Fund Westbourne Legacy 134,693 134,693 126.658 22.717 111,846 3,815 8,418 640 126.658 22,717 22,717 134.693 126,658 284.068 124,719 2024 Actlvlty undertaken dlrectly Grant fundlng of actlvlty 2024 Gener81 Funds Mount Gould Legacy Plym Neuro Fund 18,249 29,121 116.443 97,538 134,692 126,659 22,717 284,068 70,087 213,981 2023 Activity undgrtaken dlrectly Grant fundlng of acllvlty 2023 Gener81 Funds Mount Gould Legaey Plym Neuro Fund Weslbourne Legacy 3,675 3,815 8,418 108,171 111,846 3,815 8,418 640 16,548 108,171 124,719 Page 11 The Livewell Foundation Notes to the FinanGlal Ststements for the Year Ended 31 March 2024 6 Analysis of 8UPPOrt costs Support costs allocated to charitsble actlvltles 2024 Staff & patlent welfare 4menitlo8 Equlpment Staff grants developmènt Support CO8t8 Total 2024 General Funds Mount Gould Legacy Plym Neuro Fund 4,690 19,446 21.849 372 203 13,187 18,249 29,121 22,717 9,472 45,985 575 10.340 13,187 70,087 2023 ' Stsff& patient welfare amenltlas Equlpment Stsff grants dovelopmgnt Support costs Total 2023 General Fund8 Mount Gould Legacy Plym Neuro Fund Westboume Legacy 908 2,331 6,882 627 208 215 1,932 1,269 902 640 3,675 3,815 8,418 640 854 9,901 1.481 423 4,743 16,548 Page 12 The Livowell Foundatlon Notes to the Financial Statements for the Year Ended 31 March 2024 7 Trustees remungratlon and gxpgnsgs No trustees, nor any persons ¢onneded with them, have received any remuneration frcm th& ch8rity during the year12023 ENill. No Irusleeg have rec6Ned any reimbursed expenses or any other benefits frorn the charty during the year12023 £Nill. 8 Independent examlnerf8 remuneratlon 2024 2023 Other fees to examlnors Examinalion-relaled assurance services All other seThices 2,205 3,400 2,100 3,225 5,605 5,325 The Indepen(Jenl Examinerfs remuneration amounts to £2,20512023.' £2,100), the preparation of the accounts fee amounts lo £3,40012023'. £3,225). These will bolh be paid by Livewell Soulhwesl CIC on behaK of the Livewell Foundation. Livewell Soulhwesl CIC will not recharge thi5 expendrture lo the Llvew811 Foundation. 9 Credltors: amount8 falllng due wlthln one year 2024 2023 Tr8de creditors 53,882 17,004 Page 13 The Llvewell Foundation Notes to the Financial Statements for the Year Ended 31 March 2024 10 Funds Balance at l Aprll 2023 Balance at 31 March 2024 Incomlng Rosourcgs resources expended Transfers Unrgslrlctad funds Gener•1 Gonaral Funds 236,441 116,716 1134,6931 17,004 235,468 Deslgnated Plym Neuro Fund 28,507 2,687 122,7171 8,477 Total unrestrlcted funds 284,948 119,403 1 $7,410 17,004 243.945 Restrlctod funds Mount Gould Legacy We51boume Legacy 143,662 72,462 1126,6581 117,004} 72.462 216,124 126,658 17,004 72,462 Total funds 481.072 119,403 284,C68 316,407 Balance at 31 March 2023 Balancè at 1 April 2022 Incomlng resources R8sourco5 expended Unrestrlctod fundj General General Funds 237,527 110,760 1111,8461 236,441 Deslgnated Plym Neuro Fund Totsl unr•strlcted funds 35.129 1.79e 8,418 28.507 272,656 112,556 120,264 264,948 Restrlcted fund8 Mount Gould Legacy Westbourne Legacy 147,477 73,102 220,579 {3,815} 640 143,862 72.462 4,455 216,124 Total funds 493,235 112,556 124,719 481,072 Page 14 The Livewell Foundation Notes to the Financial Ststements for the Year Ended 31 March 2024 Tavislock hosprtal is a community hospital which has inpatient beds and a day surgery operating theatre. 11 also provides diagnostic and screening procedures, family p18nning seNices and a range of oulpalienl clinics. The Tavistock General Fund is lo be used to support staff and patients of Tavislock Hosprtal. The Plym Neurorehabililalion Unit Is 8 specialist unit al Mount Goukl Hospital run by Livewell Soulhwesl CIC. 11 is a 15 bedded unf( for adurts with acquired brain injuries, spinal cord injuries and other neurok)gical condrtions. The P￿M Neuro fund is to 8UPPOrt staff and patients on this unil. Other designated funds and legacies are associated with the various NHS Services run by Livewell Southwest CIC. All ore related lo a speeilic ward or department. The Mount Gould legacy is a sum of money left by the lale Mrs A Ethards for Mount Gould Hospital. The fund is reslricled lo be used by seNices or projects that are linked lo the Mount Gould sile. The Weslbourne Legacy was left to the Weslbourne Unit'for use for the mentally ill. 11 Anatysl8 of net a988ts between funds Unrestrict•d funds General Total funds at 31 March 2024 Restrlctgd funds Current as88ls Current liabilities 243,944 126,345 53,882 370,289 53,882 Total nel assets 243,944 72,463 316,407 Unrostrlctgd funds General Total funds at 31 Ma￿h 2023 Rgstrlcted funds Curr8nl assets Current liabilities 281.952 17.004 216,124 498,076 17,004 481,072 Total nel assets 264.948 216,124 12 Related pmrty transactlons There were no related party Iran8aclp)ns in the year. 13 Parent and ultlmate parent undertaklng The LNewell Foundation was established in 2016 by Livewell Soulhwe$l CIC and the two organisalions work closely together, however, the majority of the Irusl8es on the board are independent of Livewell Southwest CIC. Therefore, the Livewell Foundation has no ultimate controlling party. Page 15