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2021-12-31-accounts

Charity Registration in England and Wales No. 1190040

WELLBEING ECONOMY ALLIANCE

(A CHARITABLE INCORPORATED ORGANISATION) UNAUDITED TRUSTEES' REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021

WELLBEING ECONOMY ALLIANCE (A CHARITABLE INCORPORATED ORGANISATION) CONTENTS

Page
Legal and Administrative Information 1
Trustees' Report 2 - 3
Independent Examiner's report 4
Statement of Financial Activities 5
Balance Sheet 6
Statement of Cash Flows 7
Notes to the Accounts 8 - 12

WELLBEING ECONOMY ALLIANCE (A CHARITABLE INCORPORATED ORGANISATION) LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Kate Pickett
Pedro Tarak
George Stewart Wallis (Chair)
Organisation & Projects Lead Michael Weatherhead
Registered Office Brakebrook
Parracombe
Barnstaple
EX31 4RG
Independent Examiner C J R Chapman FCCA
McPhersons Walpole Harding
Chartered Certified Accountants
Telecom House
125-135 Preston Road
Brighton
BN1 6AF
Bankers Triodos Bank UK Ltd
Deanery Road
Bristol
BS1 5AS
Solicitors Blandy & Blandy
One Friar Street
Reading
RG1 1DA

1

WELLBEING ECONOMY ALLIANCE (A CHARITABLE INCORPORATED ORGANISATION) TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2021

The Trustees of Wellbeing Economy Alliance are pleased to report on the Accounts and Activities of the organisation for 2021 as follows:

Public Benefit Statement

The CIO’s objectives are both to promote sustainable development as well as to advance the education of the public in subjects relating to sustainable development. In setting our objectives and planning our objectives, our trustees have given careful consideration to the Charity Commission’s general guidance on public benefit.

Risk Statement

The trustees, Global Council and Amp team collectively review the health of the organisation and any associated risks at every quarterly board meeting. As a relatively young organisation, the main risks considered to date are around funding sources but also extend to the wellbeing and workload of the Amp team.

Reserves Policy

WEAll’s aim is to maintain 25% i.e. 3 months of the annual salary bill for the Amp team as reserves.

Structure, Governance & Management

WEAll currently has three trustees and is actively looking to recruit a fourth. They are the legal stewards of the CIO. They work together with the Global Council – a representative sample of the WEAll membership – on the overall strategy and oversight of WEAll. The management of the organisation is the responsibility of the Amp team – the core team delivering in partnership with hubs, members and others the narratives, knowledge and powerbases work of the organisation.

Policy for the appointment and continuance of Trustees

Our constitution lays out the details for the appointment and continuance of trustees. The term for new trustees is three years. The curret approach to recruitment of new trustees is a careful consideration of candidates against a set of criteria related to their skills, knowledge and experience in relation to the effective administration of WEAll. A candidate will be interviewed by the chair plus another trustee and if the interview goes well, will be invited onto the next trustee call and if that goes well, will officially join the board.

Financial Review

In 2021 WEAll’s revenues amounted to £625,288 (2020 £519,463), representing a 20% increase on the previous year (2020 N/A). Expenditures in 2021 amounted to £560,512 (2020 £372,244), an increase of 51% (2020 N/A). A surplus of £211,995 was carried over into 2022 (2020 £147,219). Of this surplus, £29,229 was Restricted funding earmarked for work in one of WEAll’s strategic areas, the balance of £182,765 was Unrestricted. Of the Unrestricted funding carried over to 2022, £137,266 was held back as reserves.

continued…

2

WELLBEING ECONOMY ALLIANCE (A CHARITABLE INCORPORATED ORGANISATION) TRUSTEES' ANNUAL REPORT (continued) FOR THE YEAR ENDED 31 DECEMBER 2021

Achievements and Performance

During 2021 WEAll has achieved much despite the pandemic. It has:

All of WEAll’s achievements have been a result of cooperation and collaboration with citizens, members, hubs and other stakeholders.

08 Aug 2022

Approved by order of the board of trustees on and signed on its behalf by:

George Stewart Wallis Chair of Trustees

3

WELLBEING ECONOMY ALLIANCE (A CHARITABLE INCORPORATED ORGANISATION) INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS OF THE WELLBEING ECONOMY ALLIANCE

I report to the charity trustees on my examination of the accounts of Wellbeing Economy Alliance (the CIO) for the year ended 31 December 2021.

Responsibilities and basis of report

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

I report in respect of my examination of the CIO's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material 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 CIO as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts 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 accounts to be reached.

CJRChapman

Mr C J R Chapman, FCCA McPhersons Walpole Harding Chartered Certified Accountants Telecom House 125-135 Preston Road Brighton East Sussex BN1 6AF

19 Oct 2022 Date:

4

WELLBEING ECONOMY ALLIANCE (A CHARITABLE INCORPORATED ORGANISATION) STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021

Notes
Incoming resources
Voluntary income
2
Charitable activities
3
Other Income
4
Total Incoming resources
Resources expended
Raising funds
Charitable activities
5 - 10
Total resources expended
Net movement in funds
14
Fund balances at 31 December 2020
Fund Transfers
14, 15
Fund balances at 31 December 2021		 Unrestricted
Restricted
Total
funds
funds
£
£
£
7,961
4,652
12,613
278,366
333,863
612,229
446
-
446
286,773
338,515
625,288
-
-
-
148,304
412,208
560,512
148,304
412,208
560,512
138,469
(73,693)
64,776
83,600
63,619
147,219
(39,303)
39,303
-
182,766
29,229
211,995
2021		 2020
Total
£
5,467
443,598
70,399
519,463
-
372,244
372,244
147,219
-
-
147,219

All income and expenditure derive from continuing activities. The Statement of Financial Activities includes all gains and losses recognised during the year.

5

WELLBEING ECONOMY ALLIANCE (A CHARITABLE INCORPORATED ORGANISATION) BALANCE SHEET AS AT 31 DECEMBER 2021

Notes
Fixed Assets
11
Current assets
Debtors
12
Cash at bank and in hand
Liabilities
Creditors falling due within one year
13
Net current assets
Net assets
Funds brought forward
14
Surplus/(Loss) for the year
Fund Transfers
14, 15
Funds of the charity		 Unrestricted
Restricted
Total
funds
funds
£
£
£
-
-
-
5,499
-
5,499
186,791
115,154
301,945
192,290
115,154
307,444
(9,524)
(85,925)
(95,449)
182,766
29,229
211,995
182,766
29,229
211,995
83,600
63,619
147,219
138,469
(73,693)
64,776
(39,303)
39,303
-
182,766
29,229
211,995
2021		 2020
Total
£
-
-
153,604
153,604
(6,385)
147,219
147,219
-
147,219
-
147,219

The trustees are satisfied that the CIO is entitled to exemption from the provisions of the Companies Act 2006 (the Act) relating to the preparation of the unaudited Accounts for the period by virtue of section 477 (2), and that no member or members have requested an audit pursuant to section 476 (1) of the Act.

The trustees acknowledge their responsibilities for:

(i) ensuring that the CIO keeps adequate accounting records which comply with section 386 of the Act, and (ii) preparing unaudited accounts which give a true and fair view of the state of affairs of theCIO as at the end of the financial period and of its profit and loss for the financial period in accordance with the requirements of section 393, and which otherwise comply with the requirements of the Act relating to the unaudited financial statements, so far as applicable to the CIO.

These accounts have been prepared with the special provisions of Part 15 of the Companies Act relating to small companies and constitute the annual accounts required by the Companies Act 2006.

The accounts were approved by the Board on

08 Aug 2022

George Stewart Wallis Chair of Trustees

6

WELLBEING ECONOMY ALLIANCE (A CHARITABLE INCORPORATED ORGANISATION) CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2021

Cashflows from Operating Activities
Net Cash provided by Operating Activities
Cashflows from Investing Activities
Investment Income
Purchase of property, plant and equipment
Net Cash provided by Investing Activities
Net Change in cash and cash equivalents in the period
Cash and cash equivalents at the beginning of the period
Cash and cash equivalents at the end of the period
Notes to Cashflow Statement
Reconciliation of net income to net cash flows from operating activities
Net income for the reporting period
Adjustments for:
Depreciation
Decrease/(increase) in debtors
Increase/(decrease) in creditors
Net cash provided by operating activities
Analysis of cash and cash equivalents
Cash in hand and at bank
Total cash and cash equivalents		 2021
£
147,895
446
-
446
148,341
153,604
301,945
64,776
-
(5,499)
89,064
148,341
301,945
301,945		 2020
£
153,557
47
-
47
153,604
-
153,604
147,219
-
-
6,385
153,604
153,604
153,604

7

WELLBEING ECONOMY ALLIANCE (A CHARITABLE INCORPORATED ORGANISATION) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021

Company status

The Wellbeing Economy Alliance is a Charitable Incorporated Organisation and has no share capital. The liability of each member does not exceed £10. It is registered by the Charity Commission of England and Wales (registration No.1190040). Its registered address is Brakebrook, Parracombe, Barnstaple EX31 4RG.

Note

1 Accounting policies

1.1 Basis of preparation

The Wellbeing Economy Alliance 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 notes. These accounts have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity. Balances within the accounts have been rounded to the nearest £1. The accounts are prepared under the historical cost convention, in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland (FRS 102) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Companies Act 2006. In preparing the accounts, the Trustees have assessed the CIO's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and have used the going concern basis of accounting.

1.2 Fund accounting

The CIO's accounts are defined as follows:

Unrestricted Funds comprise accumulated surpluses and deficits on general funds. They are available for use at the discretion of the Trustees in furtherance of the general charitable objectives. Restricted Funds are funds subject to specific restricted conditions imposed by the donors.

1.3 Incoming resources

All incoming resources are accounted for when the CIO has entitlement, there is certainty of receipt and the amount is measurable. Income is deferred when it is in respect of work to be carried out in the following year.

Voluntary income comprises all incoming resources from donations and gift aid. Charitable activities comprises incoming resources from grants and charitable trading. Investment income is bank interest accounted for on a receivable basis. Other income comprises income from non-charitable trading.

1.4 Resources expended

1.5 Debtors, Cash and Creditors

Debtors - short term debtors are measured at transaction price. Cash and cash equivalents - comprise cash at bank and in hand. Creditors - short term creditors are measured at the transaction price.

1.6 Fixed Assets and Depreciation

WEAll does not at present own any Fixed Tangible or Intangible Assets.

8

WELLBEING ECONOMY ALLIANCE (A CHARITABLE INCORPORATED ORGANISATION) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021

Note

1.7 Reserves policy

The Trustees take the view that a reserve should be held sufficient to pay three months' salaries and oncosts for all staff plus liabilities to freelance contractors in the event the charity has to wind up. Based on WEAll's head count and freelancer liabilities in the year ended 31 December 2021, this means a figure of £114k would ideally be held in Reserve. The Reserve stood at £68,600 at 1 January 2021 and a further £68,666 was added over the course of the year in anticipation of growth in the staff and key freelance contractors in 2022.

1.8 VAT

Income and expenditure is stated gross of VAT as it is not recoverable. WEAll is not registered for VAT.

1.9 Independent Examination

The Independent Examiner's remuneration for 2021 was £600 (2020 £600).

2 Voluntary income

3

Unrestricted
Restricted
Total
funds
funds
£
£
£
Donations
7,961
4,652
12,613
Total Voluntary Income
7,961
4,652
12,613
Incoming resources from charitable activities
Unrestricted
Restricted
Total
funds
funds
£
£
£
Grants
268,171
319,562
587,733
Charitable Activity income
10,195
14,301
24,496
Total Charitable Activity resources
278,366
333,863
612,229
Grants
£
Aim Foundation
26,500
Bosch Foundation
103,583
(of which 83,583 deferred)
Christopher Reynolds Foundation
25,728
Partners for a New Economy
303,252
Rockerfeller Brothers Fund
176,675
Swedish Lottery
35,579
Total Cash Income from Grants
671,317
Less Deferrals to the following year
(83,583)
Net Grant Income
587,734
2021
2021		 2020
Total
£
5,467
5,467
2020
Total
£
430,348
13,250
443,598

4 Other Income

Prior Activities
Investment Income
Total Other Income		 Unrestricted
Restricted
Total
funds
funds
£
£
£
-
-
-
446
-
446
446
-
446
2021		 2020
Total
£
70,352
47
70,399

9

WELLBEING ECONOMY ALLIANCE (A CHARITABLE INCORPORATED ORGANISATION) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021

Note

5 Grant-Making Activities

Wellbeing Economy Alliance is not a grant-making organisation and during the year ended 31 December 2021 made no grants to institutions or individuals (2020 £nil).

6 Cost of charitable activities

Staff Cost
Projects expenditure
Office and support overheads		 Unrestricted
Restricted
Total
funds
funds
£
£
£
97,635
376,597
474,232
610
26,207
26,817
50,059
9,404
59,463
148,304
412,208
560,512
2021		 2020
Total
£
286,044
81,228
4,973
372,244

7

Number of employees

The average number of employees in the year ended 31 December 2021 was 2 (2020 nil).

8 Employment Costs

Wages and Salaries
Social Security
Employers Pension Costs
Employment Allowance Recovered		 2021
86,622
9,517
4,331
(5,929)
94,541		 2020
-
-
-
-
-

9

Key Personnel

The number of employees whose benefits (excluding employer pension costs) exceeded £60,000 was nil (2020 nil).

The Organisation and Project Lead is considered to be the key management person of the charity. The post was held throughout 2021 by Michael Weatherhead. The total paid to the Organisation and Project Lead during the year (excluding pension payments) was £54,083

10 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. Trustees' reimbursed expenses were £nil (2020: £702)

11 Tangible Fixed Assets

WEAll does not at present own any Fixed Tangible or Intangible Assets.

10

WELLBEING ECONOMY ALLIANCE (A CHARITABLE INCORPORATED ORGANISATION) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021

Note

12 Debtors

Trade debtors
Accrued income
Prepayments		 Unrestricted
Restricted
Total
funds
funds
£
£
£
-
-
-
-
-
-
5,499
-
5,499
5,499
-
5,499
2021		 2020
Total
£
-
-
-
-

13 Creditors: amount falling due within one year

Trade creditors
Deferred income
Payroll Liabilities
Accruals
14
Movement in funds
Restricted funds
Knowledge
Narrative
Communications
Powerbases
PDG Project
Hub Expansion & Engagement
36x36 Project
Failure Demand Project
Happy Planet Index
Music Festival
Policy Guide
Total Restricted Funds
Unrestricted funds
Overheads
Programmes Unrestricted
Charitable Activity
Core
Reserves
Total Unrestricted Funds
Total Funds		 At start of
the year
15,937
15,904
16,000
15,778
-
-
-
-
-
-
-		 Unrestricted
Restricted
Total
funds
funds
£
£
£
855
-
855
-
83,583
83,583
3,069
-
3,069
5,600
2,342
7,942
9,524
85,925
95,449
Incoming
Outgoing
Fund
Resources
Resources
Transfers
-
-
(15,937)
-
-
(15,904)
-
-
(16,000)
-
-
(15,778)
83,380
125,561
63,620
23,593
15,803
-
35,579
35,579
-
-
10,079
10,079
26,500
26,500
-
147,865
147,865
-
21,598
50,821
29,223
338,515
412,208
39,303
-
-
(15,000)
176,674
41,987
(96,196)
10,195
6,000
-
99,904
100,317
3,227
-
-
68,666
286,773
148,304
(39,303)
625,288
560,512
-
2021		 2020
Total
£
285
-
-
6,100
6,385
At end of
the year
-
-
-
-
21,439
7,790
-
-
-
-
-
63,619 29,229
15,000
-
-
-
68,600		 -
38,491
4,195
2,814
137,266
83,600 182,766
147,219 211,995

11

WELLBEING ECONOMY ALLIANCE (A CHARITABLE INCORPORATED ORGANISATION) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021

Note

15 Transfer of funds

On 1 January 2021 the Fund Structure of WEAll's operation was completely overhauled. The previous Restricted Funds of Knowledge, Narrative, Communications and Powerbase were dissolved and, with the approval of donors, the available monies were distributed amongst the new Restricted Fund structure. Some Unrestricted Funds were additionally transferred to part-fund Restricted projects at this date.

At 31 December 2021, Trustees transferred £68,666 Unrestricted Funds to Reserves. There were no transfers of Restricted Funds to Unrestricted Funds through the year.

16 Restricted projects:

PDG Project : Piloting of WEAll’s policy design guide with four of our hubs – Scotland, New Zealand, California and California.

Hub Expansion and Engagement : Expansion of the number of hubs WEAll is establishing in different territories around the world. Tied to this goal is the expansion in the number of members in those territories thus enabling the development of said hubs.

36x36 Project : Creation of a network of 36 women from around the world involved in the economics space to co-create a manifesto for a wellbeing economy and learn about effective network building.

Failure Demand Project : A research report that looks at the cost to government (in Scotland and Canada) of the negative impacts of low paid and precarious work, a dysfunctional housing system and climate change.

Happy Planet Index : Updating the index which compares countries globally by life expectancy, life satisfaction and environmental footprint. – www.happyplanetindex.org.

Music Festival : Delivery of an in-person festival during COP26 in Glasgow that uses culture – music and storytelling combined with panels to bring the message of the need for economic systems change to the general public – commongroundfest.org.

Policy Guide : Co-creation with members of WEAll a policy design guide that helps policy makers create economic policies aligned with a wellbeing economy.

The Trustees of the Wellbeing Economy Alliance are confident that they have overcome the short term operational differences that affected operations and as a consequence these accounts have been prepared on a going concern basis.

12

Issuer

McPhersons Walpole Harding

Document generated Wed, 19th Oct 2022 11:33:46 BST

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Wed, 19th Oct 2022 11:52:22 BST Mr George James Stewart Wallis - Signer (eff70b464a7cd497bad173cd0d6262f8) Wed, 19th Oct 2022 12:01:02 BST Chris Chapman - Signer (dd38b388286911694d9409c7a1f468f8) Wed, 19th Oct 2022 12:01:02 BST Mr Michael Weatherhead - Copied In (b6a83e642539aaa93ab2c4de274ee28b) Wed, 19th Oct 2022 12:01:02 BST Mr Paul Nigel Voltzenlogel - Copied In (53a29fab39b9c267e0cc5aa18c84f30d)

Audit history log

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Chris Chapman viewed the envelope. (87.252.38.210) Document emailed to party email (3.9.173.18) Document emailed to party email (3.9.173.18) Document emailed to party email (18.130.125.133) The envelope has been signed by all parties. (87.252.38.210) Sent a copy of the envelope to Mr Paul Nigel Voltzenlogel . (87.252.38.210) Sent a copy of the envelope to Mr Michael Weatherhead . (87.252.38.210) Chris Chapman signed the envelope. (87.252.38.210) Chris Chapman viewed the envelope. (87.252.38.210) Mr George James Stewart Wallis viewed the envelope. (213.205.194.50) Document emailed to party email (13.41.191.189) Sent the envelope to Chris Chapman for signing. (213.205.194.50) Mr George James Stewart Wallis signed the envelope. (213.205.194.50) Mr George James Stewart Wallis viewed the envelope. (213.205.194.50)

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Wed, 19th Oct 2022 11:33:47 BST Document generated with fingerprint 77df8517cfe1dfb807d5dc01b1bcacc2. (35.176.126.44) Wed, 19th Oct 2022 11:33:46 BST Envelope generated with fingerprint d5cb83f51223ed9a62b445a0797698fe (18.133.63.166)