OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← Well Grounded Limited

2025-03-31-accounts

Docusign Envelope ID: BB25B74D-6509-4EB9-ABFD-1D4D3A97DD3F

Registered number: 07269647 Charity number: 1176051

WELL GROUNDED LIMITED

(A Company Limited by Guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Docusign Envelope ID: BB25B74D-6509-4EB9-ABFD-1D4D3A97DD3F

WELL GROUNDED LIMITED (A Company Limited by Guarantee)

CONTENTS

Page
Reference and Administrative Details of the Charity, its Trustees and Advisers 1
Chairwoman's Statement 2
Trustees' Report 3 - 15
Independent Auditors' Report on the Financial Statements 16 - 19
Statement of Financial Activities 20
Balance Sheet 21
Notes to the Financial Statements 22 - 39

Docusign Envelope ID: BB25B74D-6509-4EB9-ABFD-1D4D3A97DD3F

WELL GROUNDED LIMITED (A Company Limited by Guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025

Trustees Catherine R LONG, Trustee
Alison COBURN, Trustee
Julia STANGE, Trustee
Caesar N WEKA, Trustee (resigned 30 September 2024)
Fidele HONORINE YOBO, Trustee (appointed 1 August 2024)
Gilbert M BADASHONDERANA, Trustee (appointed 20 August 2024, resigned 30
October 2024)
Company registered
number
07269647
Charity registered
number
1176051
Registered office
483 Green Lanes
London
N13 4BS
Independent auditors
Amex Associates Limited
Chartered Certified Accountants
Statutory Auditors
1st Floor
144-146 East Barnet Road
Barnet
London
EN4 8RD
Bankers
The Co-operative Bank
Ecobank

Page 1

Docusign Envelope ID: BB25B74D-6509-4EB9-ABFD-1D4D3A97DD3F

WELL GROUNDED LIMITED (A Company Limited by Guarantee)

CHAIR'S REPORT FOR THE YEAR ENDED 31 MARCH 2025

The chairwoman presents her report for the year.

I am honoured to present Well Grounded's annual report, and as Chair of the Board of Trustees, it is a privilege to highlight the continued progress we have made during this year of development, learning and consolidation.

Despite an increasingly complex and challenging global context, the organisation has demonstrated strong resilience and adaptability, maintaining its commitment to strengthening locally led civil society organisations across the Congo Basin.

In the following pages, you will find a detailed overview of our key achievements and developments over the past year. On behalf of the Board of Trustees, I would like to thank the entire Well Grounded team for their continued commitment, adaptability, and professionalism. I also extend my appreciation to our partners, funders, and collaborators for their trust and support. Together, we remain focused on strengthening locally led organisations, advancing equity, and ensuring sustainable impact across the Congo Basin and beyond.

With thanks and continued commitment.

................................................ Catherine R LONG (Chair of Tustees) 19 January 2026 Date: ..................................................

Page 2

Docusign Envelope ID: BB25B74D-6509-4EB9-ABFD-1D4D3A97DD3F

WELL GROUNDED LIMITED (A Company Limited by Guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

The Trustees present their annual report together with the audited financial statements of the Well Grounded Limited for the 1 April 2024 to 31 March 2025. The Annual Report serves 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 Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

Introduction

Well Grounded’s mission is to support civil society organisations in the Congo Basin to become stronger, in order to deliver lasting impact for forests and communities. Our vision is for a credible, collaborative, inclusive and effective African Civil Society capable of advocating for social and environmental justice while empowering communities to determine their own future.

Well Grounded, a registered non-profit in both the UK and Cameroon, was founded in 2010 in direct response to the challenges faced by local organisations and their leaders. Well Grounded provides organisations and leaders with the tools and support they need to realise their objectives and vision, and make a positive change for communities and forest ecosystems.

Over the last fifteen years, we have worked with more than 80 CSOs, many of which have emerged as leading national and regional environmental organisations, and attribute their clear sense of purpose, identity and confidence to the processes facilitated by Well Grounded.

Well Grounded's Theory of Change

We believe that stronger organisations will deliver lasting impacts for forests and people. Well Grounded’s core activities, which focus on leaders, organisations and their wider environment, deliver mutually reinforcing outcomes, resulting in stronger and more capable organisations. The organisations we support deploy a wide range of strategies responding to their context and constituencies, and a connecting thread across them is that they deliver sustainable management practices to protect the tropical forests of the Congo Basin, via community-based forest governance, policy, and/or sustainable livelihoods. While Well Grounded does not directly control the outcomes delivered by our partners, our hypothesis is that by supporting the emergence of strong organisations, we contribute to their positive impact on forest ecosystems, biodiversity and people.

Page 3

Docusign Envelope ID: BB25B74D-6509-4EB9-ABFD-1D4D3A97DD3F

WELL GROUNDED LIMITED (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Objectives and activities

a. Objectives and strategy

Our current Strategic Plan, which runs until 2027, sets out the following three strategic outcomes, connected to our Theory of Change.

Outcome 1: Strengthened CSOs

CSOs, including networks, are autonomous, strategic and guided by their values, enabling them to deliver stronger results for communities and forests.

Outcome 2: Inclusive & Effective Leaders

CSO leaders, including those from under-represented backgrounds, confidently assert their rights, are capable of fostering inclusion and of leading their organisation or communities, and play an active role in natural resource governance.

Outcome 3: Enabling Environment

Capacity for the facilitation of organisation development processes is increased in the Congo Basin region by working with two sets of actors:

b. Geographic focus

Well Grounded works in Africa, with a strategic focus on four Congo Basin countries: Cameroon, Democratic Republic of Congo, Republic of Congo, Republic of Cameroon & Gabon.

The Congo Basin is one of the richest regions in natural resources while being significantly poorer in terms of social and environmental justice. The vision for natural resource exploitation is very short-term with little of the profits derived filtering down to the level of the communities who depend on these same resources. The level of agency amongst the worst affected and most marginalised is next to non-existent, yet these are the very people whose voices need to be heard most. In our strategic plan, we have identified the countries where we have the greatest potential to deliver impact in the strategic period. Within each country, we have identified priority landscapes that have emerged as priorities for our strategy due to the convergence of community forestry needs and opportunities, and a concentration of actors with whom we can work.

Well Grounded continues to take on opportunities outside the countries and landscapes identified, where they can offer opportunities to explore new issues or approaches, while bringing new learning to our organisation and partners.

Page 4

Docusign Envelope ID: BB25B74D-6509-4EB9-ABFD-1D4D3A97DD3F

WELL GROUNDED LIMITED (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Objectives and activities (continued)

c. Activity report

Organisation development for CSOs:

In 2024 Well Grounded facilitated Organisation Development (OD) processes with 24 civil society organisations across our priority countries:

As part of the Central African Forests Initiative (CAFI) programme implemented by European Forests Insitiute (EFI) and FERN in the Republic of Congo, we provided organisation development support to two thematic working Groups (Land Use Planning and Sustainable Agriculture) in accompanying each group to become functional and developing their advocacy strategy.

We plan to deepen collaboration with FERN, EFI and partners in RoC via collaboration on major projects in the coming years.

In Cameroon, we accompanied 12 CSOs of which two members from each participated in “Les Eclaireuses” leadership development programme. After the organisational analysis undertaken with each CSO (February-March 2024) we selected 7 organisations for follow up accompaniment, based on their implementation of their OD action plan since the organisational analysis and expressed needs.

The monitoring of OD action plans of organisations involved in the "Les Eclaireuses" programme was followed by an first phase of accompaniment with the 7 organisations selected. The OD issues addressed were:

In Eastern DRC, we supported the organisation development process of six CSOs within the Kahuzi-Biega National Park landscape. Thanks to our support, two CSOs carried out organisational analyses, two CSOs initiated strategic processes, and one CSO strengthened its resource mobilisation capacity and started Leadership coaching.

In December 2024, Well Grounded collaborated with the network Alliance pour la Conservation des Grands Singes en Afrique Centrale (AGSAC) network to support one of its member CSOs based in Goma. This organisation is currently developing its strategic plan with the support of Well Grounded.

Page 5

Docusign Envelope ID: BB25B74D-6509-4EB9-ABFD-1D4D3A97DD3F

WELL GROUNDED LIMITED (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Objectives and activities (continued)

Due to the deterioration of the security situation in the Eastern DRC, from January 2025, all activities were shifted to online activities

Several project proposals were developed, in collaboration with other international organisations, to extend our network of partner organisations and to continue supporting civil society in their advocacy for good forest governance in the Congo Basin.

In collaboration with strategic partner Maliasili, we continued providing OD support to OELO (Organisation Ecologique des Lacs et de l’Ogooué) focusing on pay structures, recruitment and team building.

The organisation PROGRAM (Protector of the Great Apes of the Moukalaba), a member of AGSAC, has developed, during their Annual Générale Meeting with all stakeholder present, their strategic plan for the coming five years with the support of Well-Grounded.

d. Leadership programmes

i) Les Eclaireuses - women's ecofeminist leadership programme:

In Cameroon, we delivered a transformative leadership programme with 20 women leaders from 12 CSOs. The hybrid programme format included three in-person workshops, online learning (including via a WhatsApp community) and professional coaching. Feedback from the cohort was overwhelmingly positive:

Participant quotes:

“The programme helped me connect my local actions to broader issues such as climate justice and patriarchy.” “Before the programme, I doubted my legitimacy. Today, I speak confidently, even before local authorities.” “I’ve started using ecofeminist approaches in my organisation—my team notices the difference.”

Alongside this we developed a regional alumni strategy connecting graduates from DRC and Cameroon and supporting continued learning. A review of the Cameroon cohort validated the programme’s methodology. We’re now preparing for a Republic of Congo iteration in 2026.

ii) Indigenous Peoples (IP) leadership development:

Our Indigenous Peoples leadership programme empowers and equips leaders of Indigenous-led or allied CSOs to deliver a leadership programme that builds power at the grassroots level, through a facilitator development approach focusing on IP community leaders.

Page 6

Docusign Envelope ID: BB25B74D-6509-4EB9-ABFD-1D4D3A97DD3F

WELL GROUNDED LIMITED (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Objectives and activities (continued)

Since the conception phase, the programme has involved three countries: Cameroon, the Democratic Republic of Congo (DRC), and the Republic of Congo. Guided by a co-creation approach, activities are currently being implemented in Cameroon and Eastern DRC .

In response to the escalation of conflict in Eastern DRC, we have adapted the programme format to deliver remote support and online training to members of the leadership circle.

Based on available funding and lessons learned from implementation in these two contexts, the programme aims to extend its activities to the Republic of Congo in 2026 .

The programme is delivered via seven community workshops in focus landscapes over a period of 24 months, starting late 2024. Well Grounded is training and accompanying the community facilitators of these workshops throughout the course of the programme, and will also provide support and guidance for follow up with communities aimed at following progress and outcomes, as well as learning.

The programme currently accompanies and supports a total of 40 members of ambassador circles in Yaounde, Cameroon, Kinshasa and Bukavu, DRC and Brazzaville RoC.

In Cameroon, a community leadership journey is then facilitated in six communities divided into two main clusters:

In eastern DRC, the programme had previously identified three Indigenous communities namely: Bugoma, Buyungule and Chaminunu, South Kivu. However, due to the recent escalation of conflict in these areas, community activities have been suspended, and the programme has been adapted to support circle members through online training.

Page 7

Docusign Envelope ID: BB25B74D-6509-4EB9-ABFD-1D4D3A97DD3F

WELL GROUNDED LIMITED (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Objectives and activities (continued)

Training of facilitators and community engagement began in 2024. In Cameroon, we have already completed the second round of facilitator training and community engagement. While it is still too early to assess long-term impact, initial monitoring of the co-creation process has revealed early signs of change, as illustrated by the quotes below.

"The programme will enable us to leverage and activate our [Indigenous] strengths – to follow the programme while remaining true to our Indigenous identity. I learned a lot from the Indigenous leadership programme. Before the programme, I had difficulty expressing myself in front of people. Now I can speak fluently and easily, express my point of view, without fear of people, without any fear at all. For me, this is a big change and it has motivated me. So, I think that if other Indigenous communities in Cameroon can participate in this kind of initiative, it can really help Indigenous Peoples." Cameroon IP Ambassador Circle member.

“This programme differs from all other programmes that have been implemented to support the development of Indigenous Peoples, in that it was designed with significant input from Indigenous Peoples themselves, particularly young people. This programme supports Indigenous Peoples in becoming self-sufficient in a somatic way, enabling them to flourish, improve their living conditions and, above all, integrate socio-professionally with other peoples. It is adapted to their way of life and culture, allowing Indigenous Peoples to adapt to globalisation without disconnecting from their roots." Cameroon IP Ambassador Circle member (Female).

iii) Canopy Leadership programme

We continued to deliver a new leadership programme grounded in African leadership philosophies, which we launched in 2023 with nine leaders from 10 CSOs across four countries. The programme was designed and delivered in partnership with Maliasili, and delivered in a hybrid format involving three in-person workshops (two in the previous year), online learning via a Moodle platform, and professional coaching.

Feedback confirmed the programme’s powerful impact and resonance:

Participant testimonials included:

Delivering the programme as part of a partnership also strengthened our relationship with Maliasili, leading to expanded collaboration. We are now launching an alumni initiative to sustain learning and peer connection.

Page 8

Docusign Envelope ID: BB25B74D-6509-4EB9-ABFD-1D4D3A97DD3F

WELL GROUNDED LIMITED (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Objectives and activities (continued)

e. Developing Well Grounded

Governance

The Board of Trustees was reinforced by two recently-joined members Fidele Yobo and Gilbert Mas, who brought considerable experience in the Congo Basin region.

Team

During the year, Well Grounded experienced a key leadership transition with the departure of Andrew, CoDirector (Operations & Legal). The leadership team worked collaboratively to provide effective cover and ensure continuity across operations, governance, and programme delivery. Looking ahead, the organisation is planning a leadership restructuring process to strengthen management capacity and support its growing portfolio, including the creation and recruitment of new positions to enhance organisational effectiveness and sustainability.

People & Culture

Well Grounded is currently partnering with Open HR Consulting Ltd to design and implement its first global HR Reward Framework, scheduled for launch at the start of the next financial year. In parallel, the organisation has developed a new role profile for a People & Culture Lead to oversee global human resources functions, with recruitment planned for early next year.

Strategic partnerships

Well Grounded continued its strategic partnership with Maliasili in delivering the Canopy Leadership Programme, culminating in a workshop to consolidate learning from the first iteration of the programme. This collaboration will further expand to include the Canopy Alumni Strategy Programme, scheduled to commence early next year.

Page 9

Docusign Envelope ID: BB25B74D-6509-4EB9-ABFD-1D4D3A97DD3F

WELL GROUNDED LIMITED (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Achievements and performance

a. Main achievements of the Charity

Over the previous year, Well Grounded has implemented a coherent organisational strategy, expanding our reach and delivering strong outcomes for CSOs and their leaders:

b. Key financial performance indicators

Our financial performance indicators for FY 2024-25 were as follows:

Page 10

Docusign Envelope ID: BB25B74D-6509-4EB9-ABFD-1D4D3A97DD3F

WELL GROUNDED LIMITED (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Financial review

a. Going concern

The financial position of the organisation remained stable during the year, with a significant focus on diversifying income streams and ensuring sustainable growth. Our total revenue, this year, increased by 12% with an amount of £1,272,232 due to ongoing support from our long-standing donors and addition of new donors. The primary sources of funding include The David and Lucile Packard Foundation, Fondation Hans Wilsdorf and Liz Claiborne & Art Ortenberg Foundation.

Expenditure was carefully monitored against budgets to ensure value for money and alignment with the organisation’s objectives. The total expenditure was £1,240,819 which is also an increase of 16% from last year. Well Grounded reported 60% of its expenditure on the programme activities which are aligned with the volume of our programme funding. Well Grounded has ensured to implement cost-effective measures to optimise administrative expenses while maintaining operational efficiency. The coming financial year also seems to be financially stable with potential new funding and a tailored organisational budget to fit the needs.

Our general reserves have continued to grow steadily each year, moving towards the target level of covering at least three months of operating costs, thereby ensuring the organisation’s financial stability and resilience at all times. Regular financial monitoring and risk assessments were conducted to ensure that resources were utilised efficiently and that Well Grounded remains in a strong financial position to continue its mission in the coming year.

The risk of fluctuating foreign exchange rates persisted during the year as the organisation continued to transfer funds in USD and EUR to support programme activities across the Congo Basin countries. The finance team closely monitored currency movements and implemented prudent measures to mitigate potential financial losses arising from exchange rate volatility.

The Trustees have looked carefully at Well Grounded’s financial position, reserves, cash flow forecasts and future funding for at least the next twelve months from the date these accounts are approved. Taking into account the funding that has already been confirmed, expected renewals, and the organisation’s plans to manage costs, the Trustees believe that Well Grounded has enough resources to continue its work for the foreseeable future. For this reason, the Trustees consider it appropriate to prepare the financial statements on a going concern basis.

b. Reserves policy

Well Grounded operates a risk-based reserves policy to ensure financial stability and resilience against unforeseen challenges. At year-end, total reserves were £314,285 (2024 - £282,872).

c. Cashflow

There have been some narrow points in cash flow during the year due to a delayed funding but we effectively managed the cash flow with our regular monitoring and forecasts.

Page 11

Docusign Envelope ID: BB25B74D-6509-4EB9-ABFD-1D4D3A97DD3F

WELL GROUNDED LIMITED (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

d. Audit

The annual audit was completed in accordance with UK Charity Commission requirements and relevant accounting standards. The auditors issued an unqualified opinion for the financial year 2023/24, confirming that the financial statements present a true and fair view. No significant issues were raised, reflecting the organisation’s strong financial controls and commitment to transparency. The financial accounts of FY2024/25 will also be audited by independent external auditors.

e. Systems

Well Grounded has now become a fully digitalised organisation, operating a centralised financial management system with clearly delegated roles and responsibilities to ensure transparency and accountability. The adoption of a dedicated and optimised HR software system is under consideration for the coming year to support the needs of the organisation’s expanding global team.

Page 12

Docusign Envelope ID: BB25B74D-6509-4EB9-ABFD-1D4D3A97DD3F

WELL GROUNDED LIMITED (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Structure, governance and management

a. Constitution

Well Grounded Limited is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association on 1 June 2010 (company number 07269647, charity number 1176051).

The current registered address of Well Grounded is 483 Green Lanes, London, England, N13 4BS.

Its charitable objects, as set out in our Memorandum and Articles of Association, are:

  1. To develop the capacity and skills of the members of the socially and economically disadvantaged communities of the countries of the congo basin and other african countries in such a way that they are better able to identify, and help meet, their needs and to participate more fully in society; and

  2. To advance the education of members of the general public, in matters of environmental and social justice.

Each year, Well Grounded reassesses its aims, objectives, and activities to ensure they continue to align with its charitable goals. This report outlines the actions taken to advance those objectives. In doing so, Well Grounded takes into account the public benefit guidance provided by the Charity Commission when evaluating its goals and planning future initiatives.

Members of the company have guaranteed the liabilities of the company up to £1 each.

Well Grounded also has a registered presence as a UK based-NGO in Cameroon, (Order n°00000109/A/MINATD/SG/DAP/SDLP/SAC OF 09 MAY 2017), and currently has eight local team members based in Yaounde, Cameroon.

Well Grounded also works with a range of part time and full time regular contractors who are based in Uganda, Ethiopia, Democratic Republic of Congo, Republic of Congo and France.

b. Trustee appointment and election

Well Grounded is governed by its Trustees, collectively referred to as the Well Grounded Board, who also serve as its directors under company law. The Board is responsible to our beneficiaries, as well as to our donors and supporters both in the UK and globally.

Trustees are appointed through election or co-option in accordance with the Articles of Association. It should be noted that the Co-Directors are not considered directors under company law.

c. Organisational structure and decision-making policies

The Trustees hold no beneficial interest in Well Grounded. They provide general oversight through quarterly Board meetings and as needed on an ad hoc basis. The Trustees are responsible for discussing and setting strategy, evaluating risks, and offering guidance to the Co-Directors on key issues. Well Grounded follows a CoDirector leadership structure, with this leadership duo further supportd by a senior leadership team comprising key management roles within the team.

Page 13

Docusign Envelope ID: BB25B74D-6509-4EB9-ABFD-1D4D3A97DD3F

WELL GROUNDED LIMITED (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Structure, governance and management (continued)

d. Trustee induction and training

Well Grounded places strong value on having a strong, engaged and diverse Board to oversee our vital work across central Africa. For that reason, Well Grounded is in process of inviting and onboarding new Trustees, and of developing Board Induction materials for that purpose.

e. Pay policy for key management personnel

Aligned with the Principles and Standards of INGO Fair Reward, Well Grounded is dedicated to maintaining reward policies that are unbiased and non-discriminatory. We successfully designed and implemented a comprehensive HR Reward Framework during the year and hired a dedicated People & Culture Lead in the team.

f. Risk management

Well Grounded continues to place strong emphasis on effective risk management to ensure organisational resilience and accountability. Building on the previous year’s progress, we have further strengthened our risk monitoring framework and integrated it into our strategic and operational planning. Regular reviews are conducted to assess financial, operational, and programmatic risks, with mitigation measures updated accordingly. The organisation continues to monitor external risks, particularly those related to political and security contexts in the Congo Basin, ensuring that staff and partner safety remain paramount. Proactive financial management, diversification of funding, and strengthened internal controls underpin our commitment to maintaining stability and adaptability in a dynamic operating environment.

Statement of Trustees' responsibilities

The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 14

Docusign Envelope ID: BB25B74D-6509-4EB9-ABFD-1D4D3A97DD3F

WELL GROUNDED LIMITED (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Disclosure of information to auditors

Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that:

Auditors

The auditors, Amex Associates Limited, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.

19 January 2026

Approved by order of the members of the board of Trustees on ...................................... and signed on their behalf by:

................................................

Catherine R LONG (Chair of Trustees)

Page 15

Docusign Envelope ID: BB25B74D-6509-4EB9-ABFD-1D4D3A97DD3F

WELL GROUNDED LIMITED (A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WELL GROUNDED LIMITED

Opinion

We have audited the financial statements of Well Grounded Limited (the 'charitable company') for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of 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 Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) 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 requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial 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 to 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 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 twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Page 16

Docusign Envelope ID: BB25B74D-6509-4EB9-ABFD-1D4D3A97DD3F

WELL GROUNDED LIMITED (A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WELL GROUNDED LIMITED (CONTINUED)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form 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 misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

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 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 material misstatement, 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 concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Page 17

Docusign Envelope ID: BB25B74D-6509-4EB9-ABFD-1D4D3A97DD3F

WELL GROUNDED LIMITED (A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WELL GROUNDED LIMITED (CONTINUED)

Auditors' responsibilities for the audit of the financial statements

We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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 issue 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 with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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 extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Page 18

Docusign Envelope ID: BB25B74D-6509-4EB9-ABFD-1D4D3A97DD3F

WELL GROUNDED LIMITED (A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF WELL GROUNDED LIMITED (CONTINUED)

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

................................................................

Bilal A ALVI (Senior Statutory Auditor) for and on behalf of

Amex Associates Limited

Chartered Certified Accountants Statutory Auditors

1st Floor 144-146 East Barnet Road Barnet London EN4 8RD Date: .............................................20 January 2026

Amex Associates Limited are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

Page 19

Docusign Envelope ID: BB25B74D-6509-4EB9-ABFD-1D4D3A97DD3F

WELL GROUNDED LIMITED (A Company Limited by Guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025

Note
Income from:
Charitable activities
2
Other trading activities
3
Total income
Expenditure on:
Charitable activities
Governance costs
5
Total expenditure
Net income
Transfers between funds
13
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2025
£
448,133
81,931
530,064
492,902
11,850
504,752
25,312
(23,559)
1,753
135,653
1,753
137,406		 Restricted
funds
2025
£
742,168
-
742,168
736,067
-
736,067
6,101
23,559
29,660
147,219
29,660
176,879		 Total
funds
2025
£
1,190,301
81,931
1,272,232
1,228,969
11,850
1,240,819
31,413
-
31,413
282,872
31,413
314,285		 Total
funds
2024
£
1,097,720
25,421
1,123,141
947,276
90,633
1,037,909
85,232
-
85,232
197,640
85,232
282,872

The notes on pages 22 to 39 form part of these financial statements.

Page 20

Docusign Envelope ID: BB25B74D-6509-4EB9-ABFD-1D4D3A97DD3F

WELL GROUNDED LIMITED (A Company Limited by Guarantee) REGISTERED NUMBER: 07269647

BALANCE SHEET AS AT 31 MARCH 2025

Note
Fixed assets
Tangible assets
9
Current assets
Debtors
10
Cash at bank and in hand
Creditors: amounts falling due within one
year
11
Net current assets
Total assets less current liabilities
Net assets excluding pension asset
Total net assets
Charity funds
Restricted funds
13
Unrestricted funds
13
Total funds		 46,203
492,844
539,047
(227,302)		 2025
£
2,540
2,540
311,745
314,285
314,285
314,285
176,879
137,406
314,285		 6,337
542,327
548,664
(269,605)		 2024
£
3,813
3,813
279,059
282,872
282,872
282,872
147,219
135,653
282,872

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

19 January 2026

The financial statements were approved and authorised for issue by the Trustees on ............................................ and signed on their behalf by:

................................................

Catherine R LONG

(Chair of Trustees)

The notes on pages 22 to 39 form part of these financial statements.

Page 21

Docusign Envelope ID: BB25B74D-6509-4EB9-ABFD-1D4D3A97DD3F

WELL GROUNDED LIMITED (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1. Accounting policies

1.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Well Grounded Limited 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 stated in the relevant accounting policy.

The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

1.2 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

1.3 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 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 charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

Page 22

Docusign Envelope ID: BB25B74D-6509-4EB9-ABFD-1D4D3A97DD3F

WELL GROUNDED LIMITED (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1. Accounting policies (continued)

1.4 Tangible fixed assets and depreciation

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery

33% reducing balance

1.5 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.6 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term 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.

1.7 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, 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 unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.

1.8 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Page 23

Docusign Envelope ID: BB25B74D-6509-4EB9-ABFD-1D4D3A97DD3F

WELL GROUNDED LIMITED (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

2. Income from charitable activities

Unrestricted
Good Energies Foundation
Hans Wildorf Foundation
Arcus Foundation
Waterloo Foundation
Synchronicity Earth
The Nature Conservancy
Liz Claiborne & Art Ortenberg Foundation
Environmental Investigation Agency
Full Circle Foundation
Packard Foundation
Total 2025
Unrestricted
Good Energies Foundation
Hans Wildorf Foundation
Arcus Foundation
Synchronicity Earth
Environmental Investigation Agency
Full Circle Foundation
Packard Foundation
Total 2024		 Unrestricted
funds
2025
£
448,133
-
-
-
-
-
-
-
-
-
-
448,133
Unrestricted
funds
2024
£
415,136
-
-
-
-
-
-
-
415,136		 Restricted
funds
2025
£
-
73,965
100,000
63,140
42,500
67,330
112,314
104,638
-
72,986
105,295
742,168
Restricted
funds
2024
£
-
85,837
125,000
35,869
53,921
30,880
113,430
237,647
682,584		 Total
funds
2025
£
448,133
73,965
100,000
63,140
42,500
67,330
112,314
104,638
-
72,986
105,295
1,190,301
Total
funds
2024
£
415,136
85,837
125,000
35,869
53,921
30,880
113,430
237,647
1,097,720

Page 24

Docusign Envelope ID: BB25B74D-6509-4EB9-ABFD-1D4D3A97DD3F

WELL GROUNDED LIMITED (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

3. Income from trading activities

Income from non charitable trading activities

Consultancy
Consultancy		 Unrestricted
funds
2025
£
81,931
Unrestricted
funds
2024
£
25,421		 Total
funds
2025
£
81,931
Total
funds
2024
£
25,421

Page 25

Docusign Envelope ID: BB25B74D-6509-4EB9-ABFD-1D4D3A97DD3F

WELL GROUNDED LIMITED (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

4. Analysis of expenditure by activities

Unrestricted
Good Energies Foundation
Hans Wilsdorf Foundation
Arcus Foundation
Synchronicity Earth
The Nature Conservancy
Liz Claiborne & Art Ortenberg Foundation
Full Circle Foundation
Packard Foundation
Total 2025
Unrestricted
Good Energies Foundation
Hans Wilsdorf Foundation
Arcus Foundation
Synchronicity Earth
Environmental Investigation Agency
Full Circle Foundation
Packard Foundation
Total 2024		 Activities
undertaken
directly
2025
£
430,222
91,239
122,387
34,404
67,389
125,253
127,801
58,770
92,543
1,150,008
Activities
undertaken
directly
2024
£
393,042
45,892
35,771
39,150
56,027
15,394
47,191
297,878
930,345		 Support
costs
2025
£
62,680
809
258
(538)
171
4,986
2,877
7,713
5
78,961
Support
costs
2024
£
10,230
-
102
184
38
62
331
5,984
16,931		 Total
funds
2025
£
492,902
92,048
122,645
33,866
67,560
130,239
130,678
66,483
92,548
1,228,969
Total
funds
2024
£
403,272
45,892
35,873
39,334
56,065
15,456
47,522
303,862
947,276

Page 26

Docusign Envelope ID: BB25B74D-6509-4EB9-ABFD-1D4D3A97DD3F

WELL GROUNDED LIMITED (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

4. Analysis of expenditure by activities (continued)

Analysis of direct costs

Unrestricted
2025
£
Staff costs
220,180
Travel and subsistence
35,086
Consultants and associates fees
173,136
Venue fees and materials
98
Printing, postage and stationery
369
Sundry expenses
1,212
Telephone
141
Total 2025
430,222
Staff costs
Travel and subsistence
Consultants and associates fees
Venue fees and materials
Printing, postage and stationery
Sundry expenses
Telephone
Total 2025		 GEF
2025
£
34,392
25,053
21,011
952
1,731
7,309
791
91,239
TNC
2025
£
783
61,993
61,106
258
1,083
30
-
125,253		 HWF
2025
£
48,314
15,595
56,946
1,085
77
19
351
122,387
LCAOF
2025
£
782
44,402
70,674
-
487
206
11,250
127,801		 AF
2025
£
4,228
264
29,912
-
-
-
-
34,404
EIA21
2025
£
-
-
-
-
-
-
-
-		 SE
2025
£
14,290
23,849
24,176
1,447
396
3,231
-
67,389
FCF
2025
£
157
18,016
33,124
1,599
885
4,779
210
58,770

Page 27

Docusign Envelope ID: BB25B74D-6509-4EB9-ABFD-1D4D3A97DD3F

WELL GROUNDED LIMITED (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

4. Analysis of expenditure by activities (continued)

Analysis of direct costs (continued)

Staff costs
Travel and subsistence
Consultants and associated fees
Venue fees and materials
Printing, postage and stationery
Sundry expenses
Telephone and internet
Total 2025
Staff costs
Travel and subsistence
Consultants and associates fees
Venue fees and materials
Printing, postage and stationery
Sundry expenses
Telephone
Total 2024		 Unrestricted
2024
£
151,220
13,795
225,653
921
262
7
1,184
393,042		 GEF
2024
£
-
7,289
34,692
7
-
3,896
8
45,892		 HWF
2024
£
-
8,351
26,054
724
321
236
85
35,771		 PF
2025
£
34,984
25,244
29,643
556
76
2,040
-
92,543
AF
2024
£
1,547
349
37,227
-
-
-
27
39,150		 Total
funds
2025
£
358,110
249,502
499,728
5,995
5,104
18,826
12,743
1,150,008
SE
2024
£
16,858
2,842
21,038
225
8
14,882
174
56,027

Page 28

Docusign Envelope ID: BB25B74D-6509-4EB9-ABFD-1D4D3A97DD3F

WELL GROUNDED LIMITED (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

4. Analysis of expenditure by activities (continued)

Analysis of direct costs (continued)

Staff costs
Travel and subsistence
Consultants and associates fees
Venue fees and materials
Printing, postage and stationery
Sundry expenses
Telephone
Total 2024
Staff costs
Travel and subsistence
Consultants and associated fees
Venue fees and materials
Printing, postage and stationery
Sundry expenses
Telephone and internet
Total 2024
Basis of allocation: Actual		 TNC
2024
£
-
-
-
-
-
-
-
-		 LCAOF
2024
£
-
-
-
-
-
-
-
-		 EIA21
2024
£
642
3,905
10,516
282
-
14
35
15,394
PF
2024
£
11,391
98,048
183,155
2,836
412
1,117
919
297,878		 FCF
2024
£
-
8,436
37,862
737
-
95
61
47,191
Total
funds
2024
£
181,658
143,015
576,197
5,732
1,003
20,247
2,493
930,345

Page 29

Docusign Envelope ID: BB25B74D-6509-4EB9-ABFD-1D4D3A97DD3F

WELL GROUNDED LIMITED (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

4. Analysis of expenditure by activities (continued)

Analysis of support costs

Unrestricted
2025
£
Depreciation
1,252
Printing, postage and stationery
-
Sundry expenses
4,377
IT consumables and softwares
13,143
Staff welfare
24,443
Bank and other finance charges
23
Legal and professional
6,045
(Gain) / Loss on foreign
exchange
2,117
Staff welfare
10,049
Bank and other finance charges
1,231
Total 2025
62,680
Depreciation
Printing, postage and stationery
Sundry expenses
IT consumables and softwares
Staff welfare
Bank and other finance charges
Legal and professional
(Gain) / Loss on foreign exchange
Staff welfare
Bank and other finance charges
Bad debts written off
Total 2025		 GEF
2025
£
-
117
500
-
-
-
-
-
-
192
809
TNC
2025
£
-
-
239
1,604
1,394
-
360
712
667
10
-
4,986		 HWF
2025
£
-
-
65
84
74
-
-
-
-
35
258
LCAOF
2025
£
-
-
-
78
26
-
-
96
275
1,602
800
2,877		 AF
2025
£
-
-
-
20
-
-
-
(565)
-
7
(538)
EIA21
2025
£
-
-
-
-
-
-
-
-
-
-
-
-		 SE
2025
£
-
-
65
-
-
-
-
-
-
106
171
FCF
2025
£
-
-
275
2,157
4,186
-
-
5
388
702
-
7,713

Page 30

Docusign Envelope ID: BB25B74D-6509-4EB9-ABFD-1D4D3A97DD3F

WELL GROUNDED LIMITED (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

4. Analysis of expenditure by activities (continued)

Analysis of support costs (continued)

Depreciation
Printing, postage and stationery
Sundry expenses
IT consumables and softwares
Rent and rates
Repairs, maintenance and other premises costs
Legal and professional
(Gain) / Loss on foreign exchange
Staff welfare
Bank and other finance charges
Bad debts written off
Total 2025		 PF
2025
£
-
-
-
-
-
-
-
-
-
5
-
5		 Total
funds
2025
£
1,252
117
5,521
17,086
30,123
23
6,405
2,365
11,379
3,890
800
78,961

Page 31

Docusign Envelope ID: BB25B74D-6509-4EB9-ABFD-1D4D3A97DD3F

WELL GROUNDED LIMITED (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

4. Analysis of expenditure by activities (continued)

Analysis of support costs (continued)

Unrestricted
2024
GEF
2024
£
£
Travel and subsistence
2,149
-
IT consumables and softwares
4,453
-
Bank and other finance charges
2,646
-
Staff welfare
982
-
Total 2024
10,230
-
TNC
2024
£
Travel and subsistence
-
IT consumables and softwares
-
Bank and other finance charges
-
Staff welfare
-
Total 2024
-
Travel and subsistence
IT consumables and softwares
Repairs, maintenance and other premises costs
Staff welfare
Total 2024
Basis of allocation: Actual		 HWF
2024
£
-
70
32
-
102
LCAOF
2024
£
-
-
-
-
-		 AF
2024
£
-
-
184
-
184
EIA21
2024
£
42
-
20
-
62
PF
2024
£
506
5,232
246
-
5,984		 SE
2024
£
-
-
38
-
38
FCF
2024
£
261
-
70
-
331
Total
funds
2024
£
2,958
9,755
3,236
982
16,931

Page 32

Docusign Envelope ID: BB25B74D-6509-4EB9-ABFD-1D4D3A97DD3F

WELL GROUNDED LIMITED (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

5. Governance costs

Auditors' remuneration
Auditors' non audit costs
Total 2025
Unrestricted
funds
2024
£
Auditors' remuneration
8,000
Auditors' non audit costs
3,250
Legal and professional fees
8,469
Rent and rates
14,103
Insurance
1,081
Sundry expenses
40,784
(Gain) / Loss on foreign exchange
4,776
Bad debts written off
1,250
Depreciation - tangible fixed assets
1,879
Total 2024
83,592
6.
Auditors' remuneration
Fees payable to the Charity's auditor for the audit of the Charity's annual
accounts
Fees payable to the Charity's auditor in respect of:
All taxation advisory services not included above
All non-audit services not included above		 Unrestricted
funds
2025
£
8,000
3,850
11,850
Restricted
funds
2024
£
-
-
-
6,790
-
157
94
-
-
7,041
2025
£
8,000
600
3,250		 Total
funds
2025
£
8,000
3,850
11,850
Total
funds
2024
£
8,000
3,250
8,469
20,893
1,081
40,941
4,870
1,250
1,879
90,633
2024
£
8,000
-
3,250

Page 33

Docusign Envelope ID: BB25B74D-6509-4EB9-ABFD-1D4D3A97DD3F

WELL GROUNDED LIMITED (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

7. Staff costs

Wages and salaries
Social security costs
Pension costs		 2025
£
284,109
58,035
15,966
358,110		 2024
£
156,500
21,707
3,451
181,658

The average number of persons employed by the Charity during the year was as follows:

2025 2024
No. No.
Management and administrative 16 3

No employee received remuneration amounting to more than £60,000 in either year.

8. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2024 - £NIL) .

During the year ended 31 March 2025, no Trustee expenses have been incurred (2024 - £NIL) .

9. Tangible fixed assets

Cost or valuation
At 1 April 2024
Additions
Disposals
At 31 March 2025		 Plant and
machinery
£
10,554
1,034
(5,257)
6,331

Page 34

Docusign Envelope ID: BB25B74D-6509-4EB9-ABFD-1D4D3A97DD3F

WELL GROUNDED LIMITED (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

9. Tangible fixed assets (continued)

Depreciation
At 1 April 2024
Charge for the year
On disposals
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024
10.
Debtors
Due after more than one year
Trade debtors
Due within one year
Trade debtors
Other debtors
Prepayments and accrued income		 2025
£
(800)
(800)
41,618
4,002
1,383
46,203		 Plant and
machinery
£
6,741
1,252
(4,202)
3,791
2,540
3,813
2024
£
-
-
4,482
40
1,815
6,337

Page 35

Docusign Envelope ID: BB25B74D-6509-4EB9-ABFD-1D4D3A97DD3F

WELL GROUNDED LIMITED (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

11. Creditors: Amounts falling due within one year

Trade creditors
Corporation tax
Other creditors
Accruals and deferred income		 2025
£
14,104
453
28,891
183,854
227,302		 2024
£
28,041
-
15,018
226,546
269,605

12. Related party transactions

The Charity has not entered into any related party transaction during the year (2024 - £NIL). There was no outstanding balance as at 31 March 2025 (2024 - £NIL).

No out of pocket expenses were reimbursed to the trustees (2024 - £NIL).

No other transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard (FRS102).

Page 36

Docusign Envelope ID: BB25B74D-6509-4EB9-ABFD-1D4D3A97DD3F

WELL GROUNDED LIMITED (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

13. Statement of funds

Statement of funds - current year

Unrestricted funds
General Funds - all funds
Restricted funds
Good Energies Foundation
Hans Wilsdorf Foundation
Arcus Foundation
Waterloo Foundation
Synchronicity Earth
The Nature Conservancy
Liz Claiborne & Art Ortenberg
Foundation
Full Circle Foundation
Packard Foundation
Total of funds		 Balance at 1
April 2024
£
135,653
39,945
88,967
-
-
-
-
-
60,889
(42,582)
147,219
282,872		 Income
£
530,064
73,965
100,000
63,140
42,500
67,330
112,314
104,638
72,986
105,295
742,168
1,272,232		 Expenditure
£
(504,752)
(92,047)
(122,644)
(33,866)
-
(67,559)
(130,237)
(130,679)
(66,486)
(92,549)
(736,067)
(1,240,819)		 Transfers
in/out
£
(23,559)
-
-
23,559
-
-
-
-
-
-
23,559
-		 Balance at
31 March
2025
£
137,406
21,863
66,323
52,833
42,500
(229)
(17,923)
(26,041)
67,389
(29,836)
176,879
314,285

Page 37

Docusign Envelope ID: BB25B74D-6509-4EB9-ABFD-1D4D3A97DD3F

WELL GROUNDED LIMITED (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

13. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
General Funds - all funds
Restricted funds
Good Energies Foundation
Hans Wilsdorf Foundation
Arcus Foundation
Synchronicity Earth
Samworth Foundation 3
Environmental Investigation
Agency
Full Circle Foundation
Packard Foundation
Total of funds		 Balance at
1 April 2023
£
118,369
-
-
36,994
27,522
1,021
(10,657)
(3,827)
28,218
79,271
197,640		 Income
£
440,557
85,837
125,000
35,869
53,921
-
30,880
113,430
237,647
682,584
1,123,141		 Expenditure
£
(486,864)
(45,892)
(36,033)
(40,344)
(56,084)
-
(15,531)
(48,714)
(308,447)
(551,045)
(1,037,909)		 Transfers
in/out
£
63,591
-
-
(32,519)
(25,359)
(1,021)
(4,692)
-
-
(63,591)
-		 Balance at
31 March
2024
£
135,653
39,945
88,967
-
-
-
-
60,889
(42,582)
147,219
282,872

Page 38

Docusign Envelope ID: BB25B74D-6509-4EB9-ABFD-1D4D3A97DD3F

WELL GROUNDED LIMITED (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

14. Summary of funds

Summary of funds - current year

Balance at
Balance at 1 Transfers 31 March
April 2024 Income Expenditure in/out 2025
£ £ £ £ £
General funds 135,653 530,064 (504,752) (23,559) 137,406
Restricted funds 147,219 742,168 (736,067) 23,559 176,879
282,872 1,272,232 (1,240,819) - 314,285
Summary of funds - prior year
Balance at
Balance at Transfers 31 March
1 April 2023 Income Expenditure in/out 2024
£ £ £ £ £
General funds 118,369 440,557 (486,864) 63,591 135,653
Restricted funds 79,271 682,584 (551,045) (63,591) 147,219
197,640 1,123,141 (1,037,909) - 282,872

Page 39