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2022-09-30-accounts

Charity registration number 1197978

WISHING WELL MUSIC FOR HEALTH

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2022

Encyro E-Sign ID: 09b938cd8aaf41dea4c00a09feb424f5 (2023-Apr-20 04:41:47 UTC)

WISHING WELL MUSIC FOR HEALTH

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Janet Lee (Appointed 18 February 2022) Marie Benton (Appointed 18 February 2022) Eleanor Carson (Appointed 18 February 2022) Olivia Doyle (Appointed 18 February 2022) Charity number 1197978 Principal address 10 Hollycroft East Chiltington Lewes East Sussex BN7 3AZ

Independent examiner West & Berry Limited Mocatta House Trafalgar Place Brighton BN1 4DU

WISHING WELL MUSIC FOR HEALTH

CONTENTS

Page
Trustees' report 1 - 3
Statement of trustees' responsibilities 4
Independent examiner's report 5
Statement of financial activities 6
Balance sheet 7
Notes to the financial statements 8 - 14

WISHING WELL MUSIC FOR HEALTH

TRUSTEES' REPORT FOR THE PERIOD ENDED 30 SEPTEMBER 2022

The trustees present their annual report and financial statements for the period ended 30 September 2022.

The period commenced 18 February 2022 and ended 30 September 2022. 18 February 2022 was the date of charity registration and the date that the assets of Wishing Well Music for Health CIC transferred to this CIO.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 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 (FRS 102)" (effective 1 January 2019).

Objectives and activities

The objects of the charity are as follows:

Wishing Well aims to bring participatory music-making experiences right to the heart of healthcare, to support the wellbeing of the whole hospital community: patients; families; and healthcare staff. Hospitalisation can be a time of isolation, boredom, distress and a decline in general wellbeing. We tackle this by bringing live music right to patients' bedsides; creating interactions that enable people to feel seen, motivated and uplifted. A decline in health can be a time of great loss - of independence, mobility and choice - so we use music-making experiences to shine a light on what people can do, create and remember. This re-instils a sense of joy and empowerment.

The Wishing Well programme was created in 2013, becoming a non-profit Community Interest Company in 2019 and a registered charity in February 2022. We are a grass roots organisation, working across Sussex and Surrey, creating long-lasting partnerships with a wide range of healthcare settings including acute hospitals, psychiatric wards and neonatal units. Partnership working and participant voice informs every aspect of our work. We evaluate our programmes using an outcomes approach. We also deliver training programmes for medical students, healthcare professionals and hospital volunteers to help increase understanding of the growing “music for health” movement.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

2021/22 has been a fantastic year for Wishing Well. Since January we have worked face to face on hospital wards, uninterrupted by COVID. Restrictions have gradually eased over this time: while we still have to wear masks on all hospital wards, we no longer have to maintain distance from our participants. We can share instruments, hold a hand, and dance together again and the joy of it all is tangible for everyone involved.

We have been able to catch our breath this year, and spent time reflecting on Wishing Well’s journey so far and developing a strategy for the next 3 years. We have spent valuable time talking with our partners about the ever increasing need for creative interactions in healthcare settings. Going forward, we are committed to ensuring that patients and families in the most acute hospital settings get to engage with live music in ways that make a very real difference to their mental health and wellbeing.

WISHING WELL MUSIC FOR HEALTH

TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 30 SEPTEMBER 2022

Over the past twelve months we have:

In February, we became a charity, adopting the Charitable Incorporated Organisation (CIO) model. It’s an important milestone in our development from project to CIC and now CIO, opening up new funding avenues and giving us a more transparent legal structure. We are slowly and carefully growing our core team and this year contracted freelance support to help with fundraising and communications.

Financial review

We are in a strong financial position and, despite the challenges of the pandemic, have steadily increased income over the past three years from £40,000 in 2019 to a projected £100,000 in 2022/23.

Income for the period totalled £122,972, which included £49,600 transferred from Wishing Well Music for Health CIC. Of this £76,868 related to restricted funds. At the balance sheet date the charity had restricted funds of £12,595 and unrestricted funds of £39,142.

After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason the going concern basis has been adopted in the preparation of the financial statements.

Reserves policy

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This balance of unrestricted reserves held at 30th September 2022 was £39,142 which equates to 11 months overall running costs, thus meeting our target.

Plans for future periods

Our three-year strategy re-affirms our commitment to - and expertise in - bringing musical interactions into the most acute hospital environments to support the mental health and wellbeing of the whole hospital community. Conversations with hospital partners this year demonstrate an ever growing need for our services as pressures on the NHS increase, and capacity to support patients' wellbeing decreases.

Our priorities for the coming year include:

Structure, governance and management

The charity obtained charity status from the Charity Commission on 18th February 2022 and is a charitable incorporated organisation (CIO), charity number 1197978. The charity is governed by its governing document, the Memorandum and Articles of Association.

WISHING WELL MUSIC FOR HEALTH

TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD ENDED 30 SEPTEMBER 2022

The trustees who served during the period and up to the date of signature of the financial statements were:

Janet Lee (Appointed 18 February 2022) Marie Benton (Appointed 18 February 2022) Eleanor Carson (Appointed 18 February 2022) Olivia Doyle (Appointed 18 February 2022)

Our Board has four Trustees bringing skills in voluntary sector governance, finance, strategy and safeguarding to the organisation. Collectively, we have the skills needed to oversee Wishing Well. This year we are planning to identify different skills that could be useful as we gradually increase the number of Board members.

Method of recruitment and appointment of trustees:

Trustees are recruited on the basis of their existing relevant knowledge to ensure a good range of skills are covered by the board of trustees as a whole. Information relating to the charity is provided ahead of any appointment and training is provided to trustees.

The Board oversees the charity and the day-to-day management is delegated to Joanne White, the CEO and founder of Wishing Well Music for Health.

The trustees' report was approved by the Board of Trustees.

.............................. Marie Benton Trustee 19 Apr 2023 Date: .............................................

WISHING WELL MUSIC FOR HEALTH

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE PERIOD ENDED 30 SEPTEMBER 2022

The trustees 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).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient 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 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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.

WISHING WELL MUSIC FOR HEALTH

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF WISHING WELL MUSIC FOR HEALTH

I report to the trustees on my examination of the financial statements of Wishing Well Music for Health (the charity) for the period ended 30 September 2022.

Responsibilities and basis of report

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

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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 financial statements to be reached.

M D Westbury - FCCA

West & Berry Limited

Mocatta House Trafalgar Place Brighton BN1 4DU 20 Apr 2023 Dated: .........................

WISHING WELL MUSIC FOR HEALTH

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE PERIOD ENDED 30 SEPTEMBER 2022

Unrestricted
Restricted
funds
funds
2022
2022
Notes
£
£
Income and endowments from:
Donations and legacies
3
10,749
59,560
Charitable activities
4
3,063
-
Other income
5
32,292
17,308
Total income
46,104
76,868
Expenditure on:
Raising funds
6
438
1,009
Charitable activities
7
6,524
63,264
Total expenditure
6,962
64,273
Net income for the period/
Net movement in funds
39,142
12,595
Fund balances at 18 February 2022
-
-
Fund balances at 30 September 2022
39,142
12,595
Total
2022
£
70,309
3,063
49,600
122,972
1,447
69,788
71,235
51,737
-
51,737

The statement of financial activities includes all gains and losses recognised in the period.

All income and expenditure derive from continuing activities.

WISHING WELL MUSIC FOR HEALTH

BALANCE SHEET

AS AT 30 SEPTEMBER 2022

Notes
Fixed assets
Tangible assets
11
Current assets
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within one year
13
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
14
Unrestricted funds
2022
£
57
52,029
52,086
(1,541)
£
1,192
50,545
51,737
12,595
39,142
51,737

19 Apr 2023 The financial statements were approved by the Trustees on ......................... .............................. Marie Benton Trustee

WISHING WELL MUSIC FOR HEALTH

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2022

1 Accounting policies

Charity information

Wishing Well Music for Health is a charitable incorporated organisation (CIO), registered on the 18th February 2022 with the Charity Commission, charity number 1197978. The principal address of the charity is: Hollycroft, East Chiltington, Lewes, East Sussex BN7 3AZ.

The CIO was previously incorporated as a community interest company (CIC) limited by guarantee (company number 12205806). Wishing Well Music for Health CIC was closed by written resolution on the 8th February 2022 and the net assets of the CIC were transferred to the newly registered charity.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

WISHING WELL MUSIC FOR HEALTH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 30 SEPTEMBER 2022

1 Accounting policies

(Continued)

1.5 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 are allocated on the portion of the asset’s use.

Costs of generating funds related to expenditure on raising donations.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment

4 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

WISHING WELL MUSIC FOR HEALTH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 30 SEPTEMBER 2022

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.9 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted Restricted Total
funds funds
2022 2022 2022
£ £ £
Donations and gifts 10,749 59,560 70,309

4 Charitable activities

Charitable
Activities
2022
£
Services provided under contract 3,063

WISHING WELL MUSIC FOR HEALTH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 30 SEPTEMBER 2022

5 Other income

Unrestricted Restricted Total
funds funds
2022 2022 2022
£ £
Transfer of net assets from Wishing Well Music for Health CIC 32,292 17,308 49,600

On the 8th February 2022 a written resolution was submitted to close Wishing Well Music for Health CIC and the net assets were transferred to the newly registered charitable incorporated organisation, Wishing Well Music For Health CIO.

6 Raising funds

Unrestricted
Restricted
funds
funds
2022
2022
£
£
Fundraising and publicity
Advertising
-
1,009
Other fundraising costs
438
-
Fundraising and publicity
438
1,009
438
1,009
Total
2022
1,009
438
1,447
1,447

WISHING WELL MUSIC FOR HEALTH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 30 SEPTEMBER 2022

7 Charitable activities

Charitable
Activities
Expenditure
2022
£
Staff costs 17,383
Depreciation and impairment 398
Musicians fees 45,040
Music equipment (small) 404
Staff training and supervision 2,387
Other direct expenses 722
66,334
Share of support costs (see note 8) 2,014
Share of governance costs (see note 8) 1,440
69,788
Analysis by fund
Unrestricted funds 6,524
Restricted funds 63,264
69,788

8 Support costs

Support costs
Support
costs
Governance
costs
£
£
Subscriptions
62
-
Insurance
408
-
Computer costs
1,222
-
Sundry
322
-
Accountancy
-
1,440
2,014
1,440
Analysed between
Charitable activities
2,014
1,440
2022
£
62
408
1,222
322
1,440
3,454
3,454

Governance costs includes payments to the accountants of £1,200 + vat for accountancy and independent examination fees.

WISHING WELL MUSIC FOR HEALTH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 30 SEPTEMBER 2022

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the period.

10 Employees

The average monthly number of employees during the period was:

2022
Number
1
Employment costs 2022
£
Wages and salaries 16,500
Social security costs 883
17,383

There were no employees whose annual remuneration was more than £60,000.

11 Tangible fixed assets

11 Tangible fixed assets
Plant and equipment
£
Cost
Additions 1,590
At 30 September 2022 1,590
Depreciation and impairment
Depreciation charged in the period 398
At 30 September 2022 398
Carrying amount
At 30 September 2022 1,192
12 Debtors
2022
Amounts falling due within one year: £
Other debtors 57

WISHING WELL MUSIC FOR HEALTH

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 30 SEPTEMBER 2022

13 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Other taxation and social security
Accruals and deferred income
2022
£
101
1,440
1,541

14 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement Movement in funds Movement in funds
in funds
Incoming Balance at Incoming Resources Balance at
resources 18 February resources expended 30 September
2022 2022
£ £ £ £ £
BHCC via Open Strings Music - - 6,494 (3,997) 2,497
Friends of Worthing Hospitals - - 1,350 - 1,350
BSUH NHS Trust - ICU project at RSCH - - 715 (715) -
The Rayne Foundation - - 21,329 (15,820) 5,509
SASH Charity - - 650 (650) -
Sussex Partnership NHS Trust - Uckfield
hospital - - 2,040 (287) 1,753
Youth Music - - 34,798 (33,461) 1,337
Paul & Nick Harvey Fund - - 4,910 (4,910) -
Chalk Cliff - - 421 (421) -
Sussex Community Foundation - - 4,160 (4,012) 148
- - 76,868 (64,273) 12,595
15
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
2022
2022
£
£
Fund balances at 30 September 2022 are represented by:
Tangible assets
1,192
-
Current assets/(liabilities)
37,950
12,595
39,142
12,595
Total
2022
£
1,192
50,545
51,737

16 Related party transactions

There were no disclosable related party transactions during the period.

Audit Trail

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Signed By

Signer: Marie Benton (bentonmarie@gmail.com) Identity Check: Email Authentication Signature Type: Mouse or hand drawn Time Zone: UTC+01:00, Europe/London (British Summer Time)

Signer: Michelle Westbury FCCA (michelle@westandberry.co.uk)

Identity Check: Email Authentication

Signature Type: Typed

Time Zone: UTC+01:00, Europe/London (British Summer Time)

Event Log

Apr 17, 2023, 10:37:06 PM - Email notification sent to Marie Benton (bentonmarie@gmail.com).

Apr 17, 2023, 10:37:08 PM - Email notification delivered to Marie Benton (bentonmarie@gmail.com).

Apr 17, 2023, 10:51:48 PM - Marie Benton (bentonmarie@gmail.com) opened the email notification (estimated).

Apr 19, 2023, 9:13:31 PM - Marie Benton (bentonmarie@gmail.com) electronically signed or completed the document, from 82.26.96.90.

Apr 19, 2023, 9:13:32 PM - Email notification sent to Michelle Westbury FCCA (michelle@westandberry.co.uk). Apr 19, 2023, 9:13:35 PM - Email notification delivered to Michelle Westbury FCCA (michelle@westandberry.co.uk). Apr 20, 2023, 5:41:46 AM - Michelle Westbury FCCA (michelle@westandberry.co.uk) electronically signed or completed the document, from 86.166.6.74.

END OF LOG