THE WELLBEING CO
Charity Incorporated Organisation (CIO)
Financial Statements
For the period ended
31[st] March 2023
Registered Charity Number: 1191921
THE WELLBEING CO
Year Ended 31[st] March 2023
Principal address: 8, Houndsfield Road Edmonton, London N9 7RA
Trustees :
Nichola Lauder - Chair Trevor Knight – Treasurer and Vice Chair Michelle Francis – Company Secretary
Governing document
The organisation is operated under the rules of its constitution.
Bankers:
Santander
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THE WELLBEING CO
Year Ended 31[st] March 2023
CONTENTS
Pages
4. Trustees’ Report
8. Income and Expenditure account
9. Balance Sheet
10. Notes to the Accounts
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THE WELLBEING CO Year ending 31[st] March 2023
Annual Report
The committee are please to present the financial report for the period ended 31[st] March 2023, the first accounting period of the Charitable Incorporated Organisation.
Structure, Governance and management
The Wellbeing Co is a charitable Incorporated Organisation (CIO), registered with the Charity Commission and governed by its constitution, dated 21[st] October 2020.
If the CIO is wound up, the members of the CIO have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities.
The affairs of the charity are managed on a day-to-day basis by the trustees, who may exercise all the powers of the CIO.
The trustees of served during the year are shown on page 2 of this report.
Appointment of Trustees
In accordance with the terms of the constitution, there must be at least three charity trustees. If the number falls below the minimum, the remaining trustees can act only to call a meeting of the trustees or appoint a new trustee.
The charity trustees may not appoint any charity trustee if as a result the number of charity trustees would exceed the maximum.
Each new trustee is given a copy of the constitution and the latest trustees’ annual report and accounts, on or before appointment.
Charitable objects
THE OBJECTS OF THE CIO ARE: THE PRESERVATION AND PROTECTION OF GOOD PHYSICAL AND MENTAL HEALTH FOR THE PUBLIC BENEFIT, IN PARTICULAR BUT NOT EXCLUSIVELY, BY PROVIDING AND ASSISTING IN THE PROVISION OF FACILITIES, SUPPORT SERVICES AND PRACTICAL ADVICE.
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Activities and achievements for the year
We have started the year on a high with Funding coming in The London Catalyst who we met as part of the Funding Application process with the original purpose of delivering one to one Counselling Sessions and Psychotherapeutic Groups including our Wellbeing Pocket Park. Upon meeting with the funding Officer from London Catalyst and having a frank conversation it was decided collectively with them and the Board that we used the money to reset and rebuild the Charity and simply reestablish ourselves and for that we are extremely grateful. This was the opportunity for us to turn things around, not an easy task. We began by recruiting new Volunteers as many of the Volunteers had moved on and retraining 2 of the original 8 Volunteers who had remained with the Charity. We met with a new web developer, look at new courses and started some work on getting the building people ready.
We were also awarded a second pot of money from The London Borough of Enfield to restart our Telephone Befriending Service, the Cooking on a Budget Group and trained individuals from the Community to deliver Finance and Budget Management Groups.
Admittedly this has been a bit of an uphill struggle for TWC, with volunteers moving on, people still reluctant to leave their homes and or still isolating. We also encountered issues with the building which often meant we had to hold sessions online and or in other Community Spaces, with the exception of the Gardening Group.
Whilst there has been a drop in people accessing the Counselling and the Cooking Group, but we have seen an increase in people accessing:
-
Telephone Befriending
-
The Women’s
-
The Gardening Group and
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Finance and Budget Management.
In total we had over 60 Referrals namely for Telephone Befriending, The women’s Group, The Garden Group and Counselling. We have had some interest in Budget Management and people looking for Cooked Food.
We feel optimistic about the future and continue to soldier on with the support of the TWC Board, Partner Organisations, Funding Partners, and the Local Community, to develop a more sustainable service with a stronger core of services.
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CONCLUSIONS
Lastly, I would like to thank God, The Board, our funders and in particular London Catalyst and the London Borough of Enfield and our Amazing Volunteers for their outstanding support and commitment.
Reserves policy and going concern
The Board has assessed the charity’s requirements for reserves in the light of the main risks to the organisation. As a result, the Board has approved a policy whereby the unrestricted funds not committed, should be held in reserve and maintained at a level which ensures that The Wellbeing Co’s core activity could continue during a period of unforeseen difficulty. The target reserve amount represents at least 6 months’ (26 weeks) expenditure and will be reviewed annually.
Risk management
The trustees have a risk management strategy which comprises:
● an annual review of the principal risks and uncertainties that the charity undertakes.
- the establishment of policies, systems and procedures to mitigate those risks identified in the annual review; and
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● the implementation of procedures designed to minimise or manage any potential impact on the charity should those risks materialise.
The Trustees constantly review risks relevant to the charity. Any risks identified are reported to the Trustees and decisions made on how to minimise risk.
Trustees and their responsibilities
Charity trustees are the people who serve on the governing body of a charity. They may be known as trustees, directors, board members, governors or committee members. The principles and main duties are the same in all cases. Trustees have, and must accept, ultimate responsibility for directing the affairs of a charity, and ensuring that it is solvent, well-run, and meeting the needs for which it has been set up.
Our volunteers
The Wellbeing Co is very involved in the community and relies on voluntary help. 5 volunteers assisted with our on-going activities. We wish to thank our volunteers for their loyal support and contribution.
Future plan
The Wellbeing Co are committed to apply for further funding that will enable the organisation to deliver on various needs identified.
Nichola Lauder (Chairperson)
26/01/2024
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| THE WELLBEING CO | THE WELLBEING CO | THE WELLBEING CO | THE WELLBEING CO | THE WELLBEING CO | THE WELLBEING CO | THE WELLBEING CO | THE WELLBEING CO | THE WELLBEING CO | THE WELLBEING CO | |||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income and Expenditure account for the year ended 31st March 2023 | ||||||||||||
| Unrestricted | Restricted | Total | ||||||||||
| Funds | Funds | Funds | ||||||||||
| 2023 | ||||||||||||
| INCOMING RESOURCES | £ | £ | £ | |||||||||
| Donation | 117 | - | 117 | |||||||||
| Grants for charitable activities: | ||||||||||||
| London Catalyst | - | - | - | |||||||||
| London Borough of Enfield | - | 4,909 | 4,909 | |||||||||
| TOTAL INCOMING RESOURCES | 117 | 4,909 | 5,026 | |||||||||
| RESOUCES EXPENDED | ||||||||||||
| Charitable Expenditure | ||||||||||||
| Sessional Workers and Trainers | 5,271 | 5,271 | ||||||||||
| Refreshments | 42 | 42 | ||||||||||
| Staff and Volunteer Training | 135 | 135 | ||||||||||
| Pocket Park/ Gardening group activities | 842 | 842 | ||||||||||
| Food Bank activities | 71 | 71 | ||||||||||
| Activities Materials | 262 | 262 | ||||||||||
| Professional fees | 350 | 350 | ||||||||||
| office expenses | 184 | 184 | ||||||||||
| Travel expenses | 60 | 60 | ||||||||||
| Volunteer’s expenses | 73 | 73 | ||||||||||
| TOTAL RESOUCES EXPENDED | - | 7,290 | 7,290 | |||||||||
| Net incomings and outgoings | 117 | (2,381) | (2,264) | |||||||||
| TOTAL FUNDS AT 01 APRIL 2022 | - | 3,538 | 3,538 | |||||||||
| TOTAL FUNDS AT 31 MARCH 2023 | 117 | **1,157 ** | 1,274 | |||||||||
There were no recognised gains or losses for the above period other than those shown in the statement of financial activities for the above financial year. All incoming resources and resources expended are derived from continuing activities.
(The notes attached form part of these financial statements)
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THE WELLBEING CO
| BALANCE SHEET AS AT 31 MARCH 2023 | |||||||
|---|---|---|---|---|---|---|---|
| Notes Fixed Assets Tangible assets Current Assets: Cash at Bank and In Hand Current Liabilities: Creditors: Amount falling due within one year: Accruals & Creditors (6) Net Assets As Represented By Unrestricted Fund Restricted Fund (7) Total Funds (The notes form part of this account) |
£ 2023 - 1,624 350 1,274 117 1,157 1,391 |
£ 2022 - 4,038 500 |
|||||
| 3,538 | |||||||
| - 3,538 |
|||||||
| 3,538 | |||||||
The accounts were approved by the Committee Members on 26/01/2024 and signed on their behalf by: -
……………………….........
Ms Nichola Lauder (Chair)
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THE WELLBEING CO Year Ended 31[st] March 2023
Notes to the accounts
1. Accounting Basis
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain fixed assets, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2008).
The accounts have also been prepared in accordance with the Statement of Recommended Practice “Accounting and Reporting by Charities” and applicable legislations.
2. Incoming resources
All incoming resources are included in the Statement of Financial Activities when the organisation is legally entitled to the income and the amount can be quantified with reasonable accuracy.
3. Resource Expendable
All expenditure is accounted for on an accrual basis and has been included under expenses categories that aggregate all costs for allocation to activities.
4. Fixed Asset
The organisation has no fixed assets in this year.
5. Debtors
The organisation has no debtors.
6. Creditors and Accruals
| Professional fees Other Creditors |
2023 £ 350 - 350 |
2022 £ 500 - |
|---|---|---|
| 500 |
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7. Analysis of Restricted Fund
| Restricted Funds London Borough of Enfield London Catalyst Total |
Balance b/f @ 01st Apr 2022 Received in 2022/2023 Spent in 2022/2023 Balance C/F @ 31st Mar 2023 £ £ £ £ - 4,909 3,752 1,157 3,538 - 3,538 - |
|---|---|
| 3,538 4,909 7,290 **1,157 ** |
8. Support and Governance Cost
| Office expenses Professional Fees |
2023 £ 184 350 **534 ** |
2022 £ 946 500 |
|---|---|---|
| 1,446 |
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