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2025-06-30-accounts

LOVEWELL CIO

FINANCIAL STATEMENTS

Year Ended 30th June 2025

Charity Number 1203450

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LOVEWELL CIO

FINANCIAL STATEMENTS

Year Ended 30th June 2025

Contents Pages
Reference and administrative information 3
Trustees report 4-8
Independent examiner's report 9
Statement of financial activities 10
Balance sheet 11
Notes to the financial statements 12-16

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LOVEWELL CIO

FINANCIAL STATEMENTS

Year Ended 30th June 2025

Reference and administration information

Trustees

Lisa Benjamin Appointed: 5 April 2025 Kathie Butters Appointed: 7 June 2023 Resigned: 2 August 2024 Natalie Douglas Appointed: 5 April 2025 Mahalah Katz Appointed: 29 November 2023 Madeleine Muir Appointed: 5 April 2025 Ruth Nott: Treasurer Appointed: 29 November 2023 Hannah Yapp Appointed: 7 June 2023 Chair Mahalah Katz

Charity registration number 1203450

Registered office St Paul's Learning and Family Centre 94 Grosvenor Road Bristol BS2 8XJ Banker Barclays Bank 55 Broadmead Bristol BS1 3EA Independent examiner Louise O’Donnell

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LOVEWELL CIO

FINANCIAL STATEMENTS

Year Ended 30th June 2025

Trustees' Report

The Trustees are pleased to present their report together with the financial statements of the charity for the year ended 30 June 2025. Legal and administrative information set out on page 3 forms part of the report.

The financial statements comply with 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).

Constitution

The organisation was constituted under a constitution dated 7th June 2023 and registered with the Charity Commission on 7th June 2023.

Election of trustees

Eligibility

(c) No one is entitled to act as a charity trustee whether on appointment or on any reappointment until he or she has expressly acknowledged, in whatever way the charity trustees decide, his or her acceptance of the office of charity trustee.

Number of charity trustees

Information for new charity trustees

The charity trustees will make available to each new charity trustee, on or before his or her first appointment:

Organisational structure and decision making

The CIO trustee board is made up of 3 trustees, including the Chair, Treasurer and Secretary, and 2 ordinary members.

Any decision may be taken either:

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LOVEWELL CIO

FINANCIAL STATEMENTS

Year Ended 30th June 2025

Related party relationships

LoveWell CIO was initially referred to as ‘LoveWell Foundation’ to differentiate between the CIC and the CIO. It was later decided that, as the term Foundation refers to a type of nonprofit organisation or charitable trust that usually provides funding and support to other charitable organisations through grants, this was not the correct term to use for the CIO. LoveWell CIO is henceforth referred to as ‘LoveWell’ or ‘LoveWell CIO’.

February 2025 saw the closure of LoveWell CIC and absorption of the IP (product line and manufacturing) into LoveWell CIO, albeit with reduced resource and focus. This has enabled the trainees to continue to gain manufacturing experience as part of the programme and to provide a source of additional unrestricted funds into the CIO. This has been a positive move for the organisation, enabling LoveWell to focus more fully on its mission and better communicate this mission to all stakeholders.

Risk management

Risk management statement:

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LOVEWELL CIO

FINANCIAL STATEMENTS

Year Ended 30th June 2025

Objects and Activities

Object(s)

The relief of poverty of financial hardship of women who are in need by reason of their social or economic disadvantage because of their involvement in sex work which involved trafficking and/or exploitation. This is achieved through the provision of training and mentoring including developing their capabilities, competencies and skills, to support their move into employment and/or education.

Achievement and performance

Key achievements 2024-25

It has been a positive year for the charity with a stronger and growing staff team, trustee board and volunteer base – and a well-received training programme, which ran from October 2023 to March 2024. The initial take-up was higher than previous cohorts, with 11 women starting this fourth programme, although some of the attendees did not complete the programme - from the 11 who started, 6 completed. Reasons for this vary - 1 woman who completed Term 1, was deemed too high support to continue with Term 2 and 3, but was then given mentoring support from the partner organisation who referred her, 1 woman found employment before the programme finished, and 3 women who were offered places on the programme did not take them up. The smaller group however worked well together and feedback from the women who completed was positive. 5 of the participants went on to receive mentoring support (1 participant was moved to another city by refugee support soon after the programme finished), and feedback from the programme included positives such as ‘we focused on what type of work experience want to do’, ‘It helped to be introduced to more possibilities’ and ‘I realised I prefer to work to staying at home.’

Financial review

Going concern

The trustees are confident that the charity is secure for the foreseeable future. For this reason, they continue to adopt the going concern basis for preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.

Reserves policy

The free unrestricted reserves at the end of June 2025 amounted to £1,252. The trustees have yet to formalise a reserves policy. This is a priority action for the next trustees meeting.

Public benefit

The Charity's purposes are to empower women who have experiences significant trauma through trafficking and exploitation on their journey to employability and entrepreneurship, to create supportive pathways into employment in a safe community of women. The charity develops partnerships with women through transformative, holistic training and mentoring, equipping them with transferable life skills and employability skills, and supporting them to grow in confidence, increase their skills, abilities and selfworth, enabling them to move confidently into employment and build towards a positive future.

The charity has achieved this by running its fourth and fifth Live and Work Well employability programme in 2024-25. The charity's activities include the Live and Work Well employability programme and mentoring programme. These activities have improved the lives of women who have taken part in the programme, by significantly improving their ability to find and secure employment, and/or further training and education for a future move into employment. Up to 70% of women who take part in the programme

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LOVEWELL CIO

FINANCIAL STATEMENTS

Year Ended 30th June 2025

go on to secure paid employment, and almost all beneficiaries take up the offer of mentoring. More women in Bristol are now in a position to work in paid employment, which significantly improves their lives, as well as the lives of their families and other dependents. The trustees, in making decisions about this, have had due regard to the charity commission's public benefit guidance when exercising any powers or duties to which the guidance relevant. They are all aware of the guidance and have taken it into account when making decisions.

Plans for the future

There is a strong and stable Board of Trustees, following some changes of members in 2025. In the second half of 2025, following the absorption of the CIC IP, the trustees have focused on mapping the skillsets of the Board Members and identifying a clear 5-year plan. The focus in 2026 and beyond will be the sustainable implementation of this plan, with clear ownership of activities and focus based on the relevant skill sets of the Board Members. This will include a continued focus on partnerships with other public, private sector and charitable organisations.

This approach should see LoveWell able to continue progress towards its goal of increasing the profile of the organisation and number of programmes per year; activities to enable the charity to reach an increased number of women.

Every beneficiary of the programme will now undertake a Level 1 in Enterprise and Employment, accredited through SFEDI https://sfediawards.co.uk/ and supported by staff at CCBED in 2025 (The Centre for Capacity Building and Enterprise Development). CCBED is a Bristol based social enterprise helping adults to achieve their economic potential, regardless of their background and both organisations applied for joint funding to cover the cost of this initial accreditation. Further funding will need to be sought to offer this accreditation to every new beneficiary of the programme, but this accreditation is another significant step to help our beneficiaries to gain credibility and confidence in their employment journey. The five-year anniversary of the charity in 2025, included speeches and testimonials from previous beneficiaries – highlighting the value they place on the programme and the impact it has had for them. The event brought together supporters of the charity from across Bristol.

In summary, the Charity goes into the year to 30[th] June 2026 in a stronger financial position than ever before, a strong and effective Board, and an increased focus on its sustainable growth and development.

Statement of the trustees' responsibilities

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 & 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:

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LOVEWELL CIO

FINANCIAL STATEMENTS

Year Ended 30th June 2025

The trustees are responsible for keeping proper 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 Charities Act 2011, the Charity (Accounts and Reports) Regulations. 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.

This report was approved by the trustees and signed on their behalf by:

Mahalah Katz, Chair

Date: 22[nd] March 2026

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LOVEWELL CIO

FINANCIAL STATEMENTS

Year Ended 30th June 2025

Independent Examiner's Report to the Trustees of LoveWell (the 'charity')

I report to the charity trustees on my examination of the accounts of the charity for the year ended 30th June 2025.

Responsibilities and basis of report

As the charity's trustees, 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 accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the 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 (other than that disclosed below) which gives me cause to believe that in any material respect:

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.

Name :Louise O’Donnell

Date: 23[rd] March 2026

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LOVEWELL CIO

STATEMENT OF FINANCIAL ACTIVITIES (Including Income and Expenditure Account)

Year Ended 30th June 2025

Note
Incoming resources
Donations and legacies
2
Other income
3
Total incoming resources
Resources expended
Charitable activities
4
Fundraising costs
5
Other
6
Total resources expended
Net incoming/(outgoing) resources
Gross transfers between funds
Net movement in funds
Balances brought forward
Balances carried forward at 30 Jun 25		 Unrestricted
Funds
Restricted
Funds
Total Funds
2025
Total Funds
2024
£
£
£
£

833
22,000
22,833
34,920

4,048
0
4,048
0
4,882
22,000
26,882
34,920

4,360
25,615
29,975
11,617

1,270
0
1,270
0

0
0
0
893
5,630
25,615
31,245
12,510
(748)
(3,615)
(4,363)
22,410
0
0
0
0
(748)
(3,615)
(4,363)
22,410
2,000
20,410
22,410
0
1,252
16,795
18,047
22,410

All of the activities of the charity are classed as continuing

The notes on pages 12 to 16 form part of these financial statements

As required by paragraph 4.67 of the SORP, the brought forward and carried forward funds above

have been agreed to the Balance Sheet

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LOVEWELL CIO

BALANCE SHEET

Year Ended 30th June 2025

Note
Current assets
Cash at bank and in hand
Debtors
Total current assets
Creditors: Amounts falling due within one year
10
Net current assets/(liabilities)
Total net assets/(liabilities)
Total funds of the charity
11
Restricted funds
Unrestricted funds		 2025
2024
£
£
17,076
24,818
1,139
0
18,215
24,818
(168)
(2,408)
18,047
22,410
18,047
22,410
16,795
20,410
1,252
2,000
18,047
22,410

These financial statements of LoveWell CIO registered number 1203450 were approved by the trustees and are signed on their behalf by:

Name: Mahalah Katz, Chair Date: 22[nd] March 2026

The notes on pages 12 to 16 form part of these financial statements

Page 11 of 16

LOVEWELL CIO

NOTES TO THE ACCOUNTS

Year Ended 30th June 2025

1 Accounting Policies

Basis of preparation

These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant nots(s) to these accounts. The financial statements have been prepared in accordance with 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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

The accounts have been prepared on the assumption that the charity is able to continue as a going concern, which the trustees consider appropriate having regards to the current level of unrestricted reserves. There are no material uncertainties about the charity's ability to continue as a going concern.

The charity meets the definition of a public benefit entity as defined by FRS 102 and has therefore taken the advantage of the disclosure exemption available to it in relation to presentation of a cash flow statement.

Fund accounting

Unrestricted Funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Income

Recognition of income Income is included in the statement of Financial Activities (SoFA) when the charity becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability. Income with related expenditure Where income has related expenditure the income and related expenditure is reported gross in the SoFA. Donations and legacies Voluntary income received by way of grants, donations and gifts is included in the SoFA when receivable and only when the Charity has unconditional entitlement to the income. Tax reclaims on donations & gifts Income from tax reclaims is included in the SoFA at the same time as the gift/donation to which it relates. Volunteer help These are only included in income (with an equivalent amount in expenditure) where the benefit to the Charity is reasonably quantifiable, measurable and material.

Expenditure

Recognition of expenditure Expenditure is recognised on an accruals basis. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Expenditure on raising funds These comprise costs associated with attracting voluntary income, fundraising trading costs and investment management costs.

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LOVEWELL CIO

NOTES TO THE ACCOUNTS

Year Ended 30th June 2025

Expenditure on charitable These comprise the costs incurred by the charity in the delivery of
activities its activities and services in the furtherance of its objects, including
the making of grants and governance costs.
Governance costs These include those costs associated with meeting the
constitutional and statutory requirements of the Charity, including
any audit/independent examination fees, costs linked to the
strategic management of the Charity, together with a share of other
administration costs.
Other expenditure These are support costs no allocated to a particular activity.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Trade and other 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.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months of less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities.

Trade and other creditors

Short term creditors are measured at the transaction price. Other 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.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

The trustees confirm, in accordance with the Charitable Incorporated Organisations (General) Regulations 2012, that at the year end the CIO did not have any outstanding guarantees to third parties not any debts secured on assets of the CIO.

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LOVEWELL CIO

NOTES TO THE ACCOUNTS

Year Ended 30th June 2025

Income and endowments from:
2 Donations and legacies
Grant income
Donations
3 Other income
Sales income
Expenditure on:
4 Charitable activities
Programme costs
Staff costs
Trainee costs
Materials
Room hire
Other costs
Overhead costs
Staff costs
Staff training and wellbeing
Accounting costs
Office costs
Office rent and room hire
5 Fundraising costs
Cost of materials
Other
6 Other
Independent examination
7 Staff costs and numbers
The aggregate payroll costs were:
Wages and salaries
Social security costs
Employers’ pension contributions		 Unrestricted
Funds
Restricted
Funds
£
£
0
22,000
833
0		 Total Funds
2025
Total Funds
2024
£
£
22,000
34,920
833
0
833
22,000		 22,833
34,920
Unrestricted
Funds
Restricted
Funds
£
£
4,048
0		 Total Funds
2025
Total Funds
2024
£
£
4,048
0
4,048
0		 4,048
0
Unrestricted
Funds
Restricted
Funds
£
£
0
17,104
0
2,376
0
485
1,058
792
0
843
2,576
0
15
10
242
389
77
998
393
2,617		 Total Funds
2025
Total Funds
2024
£
£
17,104
5,710
2,376
959
485
309
1,850
1,320
843
669
2,576
0
25
144
631
158
1,075
955
3,010
1,393
4,360
25,615		 29,975
11,617
Unrestricted
Funds
Restricted
Funds
£
£
1,099
0
171
0		 Total Funds
2025
Total Funds
2024
£
£
1,099
0
171
0
1,270
0		 1,270
0
Unrestricted
Funds
Restricted
Funds
£
£
0
0		 Total Funds
2025
Total Funds
2024
£
£
0
893
0
0		 0
893
2025
2024
£
£
15,170
582
298
0
164
0
15,632
582

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LOVEWELL CIO

NOTES TO THE ACCOUNTS

Year Ended 30th June 2025

7 Staff costs and numbers (cont.)

No employee received emoluments of more than £60,000.

The average monthly headcount was 2 staff.

The key management personnel of the charity include the programme manager. The programme manager has invoiced the charity for services during the year totalling £4,048 ( 2024: £5,128)

8 Trustee expenses

The charity trustees were not paid nor received any other benefits from employment with the charity in the year. The trustees were not reimbursed expenses during the year. No charity trustee received payment for professional or other services supplied to the charity.

9 Related party transactions

Between 1 February 2025 and 31 March 2025, all trading activities, and fixed and current assets, were transferred to Lovewell CIO from Lovewell CIC. An application was made to close down LoveWell CIC on 29 April 2025 and the company was formally dissolved on 29 July 2025.

10 Creditors

Trade creditors
Other creditors
Accruals and deferred income		 2025
2024
£
£
130
1,400
38
115
0
893
168
2,408

11 Corporation taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

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LOVEWELL CIO

NOTES TO THE ACCOUNTS

Year Ended 30th June 2025

12 Movement in funds
Restricted funds
Awards for All
Quartet
Church Welfare Association
Stewardship
City & Guilds
Unrestricted funds
General funds
Total funds
Purposes of restricted funds
Awards for All
Quartet
Church Welfare Association
Stewardship
City & Guilds		 At 01 Jul
2024
Incoming
Resources
Outgoing
Resources
Transfers
At 30 Jun
2025
£
£
£
£
£
1,518
0
1,518
0
0
2,186
0
2,186
0
0
1,706
0
1,706
0
0
15,000
15,000
17,659
0
12,341
0
7,000
2,546
0
4,454
20,410
22,000
25,615
0
16,795
2,000
4,882
5,630
0
1,252
2,000
4,882
5,630
0
1,252
22,410
26,882
31,245
0
18,047
Purpose of the restricted fund was to cover staff costs of £4,655, volunteer
trainee expenses of £1,800 and operational costs of £3,465.
Purpose of the restricted fund was to cover the Training Lead salary for 1
day/week for the 6 months of the programme, at £2,000, £1,500 of operational
programme costs for trainees, and £1,500 contribution to office rent and
insurance.
£1,000 was to cover the salary of the Training and Development lead, £1,000
towards trainee expenses, and £1,000 for operational costs. A further £2,000
was then awarded to the charity post-application, and this is unrestricted
funding.
Two grants of £15,000 were awarded to cover the salaries of a new
Programmes Manager post from July 2024, and a Training Facilitator, for 2
years, totalling £30,000.
Purpose of the restricted fund was to cover staff costs of £3,250, programme
costs £2,250 and operational costs of £1,500.
13 Analysis of net assets between funds
Cash at bank and in hand
Other net current assets/(liabilities)		 Unrestricted
Funds
Restricted
Funds
Total
Funds
£
£
£
1,252
15,824
17,076
0
971
971
1,252
16,795
18,047

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