Registered Charity Number 1193400
SUNSHINE WELLNESS HUB
TRUSTEES REPORT AND ACCOUNTS
31 December 2022
SUNSHINE WELLNESS HUB Financial statement Year ended 31 December 2023
| Contents | Page |
|---|---|
| Charity information and professional advisers | 3 |
| Trustees’ report | 4 |
| Accountants’ report | 6 |
| Income statement | 7 |
| Statement of financial position | 8 |
| Notes to the financial statements | 9 |
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SUNSHINE WELLNESS HUB
Charity Information Year ended 31 December 2023
| Registered charity name | SUNSHINE WELLNESS HUB |
|---|---|
| Charity number | 1193400 |
| Registered office | 17 Lower Lime Road Oldham |
| OL8 3NN | |
| Trustees | Anne Uzo (Chair) |
| Funmilayo Joy Oshibajo | |
| Obinna Lawrence Nwankwo | |
| Accountants | BC NWAIWU & CO LTD |
| Building 1 Suit 4A Office 6 | |
| Wilsons Park Business Centre | |
| Manchester | |
| M40 8WN | |
| Bankers | Barclays Bank UK PLC |
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SUNSHINE WELLNESS HUB Trustees’ Report Year ended 31 December 2023
The Trustees, present their annual report with the unaudited financial statements of the charity for the year ended 31 December 2023. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" in preparing the annual report and financial statements of the charity.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the Charity's governing document, the Charities Act 2022 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (effective 1 January 2019).
Reference and administrative details
The Charity is a charitable incorporated organisation and was formed on 4 February 2021 as Sunshine Wellness Hub.
Objectives
The objects of the charity for the public benefit include;
-
the relief of the physical and mental sickness of persons in need by reason of depression and domestic violence, in particular by the provision of counselling and support, including signposting to other services, and by any other means as the trustees in their discretion shall determine.
-
to promote social inclusion for the public benefit by preventing people from becoming socially excluded, relieving the needs of those who are socially excluded and assisting them to integrate into society.
Public Benefit
The board of trustees have given due consideration to Charity Commission’s published guidance on the operation of the public benefit requirement and confirm that these requirements are met by the charity.
Going concern
The trustees have assessed the ability of the charity to continue operating and discharging its role for the foreseeable future, and have made financial projections, taken into consideration the current economic climate because. We have adequate financial resources and are able to manage our business risks.
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SUNSHINE WELLNESS HUB Trustees’ Report Year ended 31 December 2023
Statement of responsibilities of the trustees
The trustees are required to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and the incoming resources and application of resources, including the net income or expenditure, of the charity for the year. In preparing those financial statements the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that 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 Charities Act 2022.
Anne Uzo Chair of Trustees
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SUNSHINE WELLNESS HUB
Accountant’s report
For the period ended 31 December 2023
Accountants' report to the board of trustees on the preparation of the unaudited statutory accounts of Sunshine Wellness Hub for the period ended 31 December 2023.
In order to assist you to fulfil your duties under the Charity Act 2022, we have prepared for your approval the accounts of Sunshine Wellness Hub for the period ended 31 December 2023 which comprise of the Statement of financial activities (incorporating income & expenditure account), the Balance Sheet and the related notes from the charity’s accounting records and from information and explanations you have given us.
This report is made solely to the Trustees of Sunshine Wellness Hub, as a body, in accordance with the terms of our engagement dated 22[nd] July 2024. Our work has been undertaken solely to prepare for your approval the accounts of Sunshine Wellness Hub and state those matters that we have agreed to state to the Trustees of Sunshine Wellness Hub, as a body, in this report to the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sunshine Wellness Hub and its Trustees as a body for our work or for this report.
It is your duty to ensure that Sunshine Wellness Hub has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position of Sunshine Wellness Hub. You consider that Sunshine Wellness Hub is exempt from the statutory audit/independent examination requirement for the period.
We have not been instructed to carry out an audit/independent examination or a review of the accounts of Sunshine Wellness Hub. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
BC NWAIWU & CO LTD
Building 1 Suit 4A Office 6 Wilsons Park Business Centre
Manchester M40 8WN
Date: 30 July 2024
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SUNSHINE WELLNESS HUB
Income Statement
For the period ended 31 December 2023
| Note Income from: Donations and legacies 2 Charitable activities 3 Total income Expenditure on: charitable activities 4 Total expenditure Net income/(expenditure) for the year 5 Transfer between funds Net movement in funds for the year Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted £ - - - 365 365 (365) - (365) - (365) |
Restricted £ - - - 6,379 6,379 (6,379) - (6,379) - (6,379) |
2023 £ - - - 6,744 6,744 (6,744) - (6,744) - (6,744) |
2022 £ 10 10,000 |
|---|---|---|---|---|
| 10,010 | ||||
| 4,113 | ||||
| 4,113 | ||||
| 5,898 - |
||||
| 5,898 - |
||||
| 5,898 |
The notes on pages 9 to 14 form part of these financial statements
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SUNSHINE WELLNESS HUB
Statement of Financial Position As at 31 December 2023
| Note Fixed assets Tangible assets 6 Total fixed assets Current assets Cash at bank and in hand 7 Debtors 8 Total current assets Liabilities Creditors - Amount falling due within one year 9 Net current assets Total assets less current liabilities Creditors - Amount falling due after more than one year 10 Net assets The funds of the charity: Unrestricted funds 11 Restricted funds 11 Total charity funds |
£ 20 - 20 (365) |
2023 £ 1,205 1,205 (345) 860 300 560 (334) 894 560 |
6,297 - 6,297 (300) |
2022 1,607 |
|---|---|---|---|---|
| 1,607 5,997 |
||||
| 7,604 300 |
||||
| 7,304 | ||||
| 31 7,297 |
||||
| 7,304 |
Anne Uzo Chair of Trustees
Approved by the board on 30July 2024
The notes on pages 9 to 14 form part of these financial statements
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SUNSHINE WELLNESS HUB Notes to the Financial Statements For the period ended 31 December 2023
1. Accounting Policies
The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
a. Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019) - (Charities SORP (FRS102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102).
Sunshine Wellness Hub meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
b. Judgments and estimates
The trustees have made no key judgments which have a significant effect on the accounts. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next reporting period.
c. Going concern
The trustees have reviewed the charity's forecasts and projections taking into consideration the current cost of living crises, the trustees are confident that the charity can fulfil its commitments to its beneficiaries for the period ending 31 December 2024.
d. Fund accounting
Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are grants and donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.
e. Income
The Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received, and the amount can be measured reliably.
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SUNSHINE WELLNESS HUB Notes to the Financial Statements
For the period ended 31 December 2023
Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Income received in advance of a provision of a specified service is deferred until the criteria for income recognition are met.
f. Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
-
Expenditure on charitable activities includes all costs undertaken to further the purposes of the charity and their associated support costs.
-
Finance costs includes all interest and other costs the charity incurs in connection with the borrowing of funds.
g. Tangible fixed assets
All expenditure of a capital nature on development work overseas is expensed as incurred, while tangible fixed assets in the UK costing more than £100 are capitalized and included at cost, including any incidental expenses of acquisition. Depreciation is provided on tangible fixed assets at rates calculated to write off the cost by equal annual instalments over their expected useful economic lives as follows:
| Freehold land and buildings | Nil |
|---|---|
| Computer infrastructure | 5 years |
| Computer equipment | 4 years |
| Furniture, fixtures and equipment | 4 years |
Impairment reviews are conducted when events and changes in circumstances indicate that an impairment may have occurred. If any asset is found to have a carrying value materially higher than its recoverable amount, it is written down accordingly.
h. Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
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SUNSHINE WELLNESS HUB Notes to the Financial Statements For the period ended 31 December 2023
i. Cash at bank and in hand
Cash at bank and cash 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.
j. Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
| 2 Donations and legacies Donations Other income Total 3 Charitable activities Grants National Lottery Community Charitable trading Charity sales Support services Total income from charitable activities |
Unrestricted £ - - - Unrestricted £ - - - - - - |
Restricted £ - - - Restricted £ - - - - - - |
2023 £ - - - 2023 £ - - - - - - |
2022 £ 10 - |
|---|---|---|---|---|
| 10 | ||||
| 2022 £ 10,000 |
||||
| 10,000 | ||||
| - - |
||||
| - | ||||
| 10,000 |
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SUNSHINE WELLNESS HUB Notes to the Financial Statements For the period ended 31 December 2023
| 4. Expenditure on charitable activities Staff cost Project costs Depreciation Professional fees Governance costs Support costs Restricted expenditure Unrestricted expenditure 5. Net income/(expenditure) for the year This is stated after charging/(crediting): Depreciation 6.Fixed assets: tangible assets Land and Buildings £ Cost At 01 January 2023 - Additions - At 31 December 2023 - Depreciation At 01 January 2023 - Charge for the year - At 31 December 2023 - Net book value At 31 December 2023 - At 01 January 2023 - |
2023 £ 1,260 2,138 402 125 365 2,455 |
2022 £ 1,500 925 536 - 300 852 4,113 3,813 300 4,113 2022 £ 1,103 Computer equipment Total £ £ 2,596 2,710 - - 2,596 2,710 1,053 1,103 386 402 1,439 1,505 1,157 1,205 1,543 1,607 |
2022 £ 1,500 925 536 - 300 852 4,113 3,813 300 4,113 2022 £ 1,103 Computer equipment Total £ £ 2,596 2,710 - - 2,596 2,710 1,053 1,103 386 402 1,439 1,505 1,157 1,205 1,543 1,607 |
|---|---|---|---|
| 6,744 | |||
| 6,379 365 |
|||
| 6,744 | |||
| 2023 £ 402 |
|||
| Fixtures and fittings £ 114 - 114 50 16 66 48 64 |
|||
| 2,710 | |||
| 1,103 402 |
|||
| 1,505 | |||
| 1,205 | |||
| 1,607 |
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SUNSHINE WELLNESS HUB Notes to the Financial Statements
For the period ended 31 December 2023
| 7 Cash at bank and in hand Cash at bank Cash in hand 8 Debtors Trading debtors Grant debtors Prepayments 9 Creditors- Amount falling due within one year Accountancy fee 10Creditors- Amount falling due after more than one year Trade creditors Other creditors |
2023 £ 20 - 20 2023 £ - - - - 2023 £ 365 365 2023 £ 300 - 300 |
2022 £ 6,297 - |
|---|---|---|
| 6,297 | ||
| 2022 £ - - - |
||
| - | ||
| 2022 £ 300 |
||
| 300 | ||
| 2022 £ 300 - |
||
| 300 |
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SUNSHINE WELLNESS HUB
Notes to the Financial Statements
For the period ended 31 December 2023
| 11. Fund movements Restricted funds Restricted project fund Unrestricted funds General fund The funds of the charity |
Balance at 01 January 2023 £ 7,274 7,274 31 31 7,304 |
Income £ - - - - - |
Expenditure £ (6,379) (6,379) (365) (365) (6,744) |
As at 31 December 2023 £ 894 |
|---|---|---|---|---|
| 894 334 |
||||
| 334 | ||||
| 560 |
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