The Nutritional Wellbeing Foundation
Annual Report and Financial Statements
For the Period from 14 July 2023 to 31 August 2024
Charity Registered in England and Wales Number: 1203987
The Nutritional Wellbeing Foundation Contents For the Period from 14 July 2023 - 31 August 2024
| Page | |
|---|---|
| Reference and Administrative Details | 1 |
| Trustees’ Report | 2 – 9 |
| Independent Auditors’ Report | 10 – 13 |
| Consolidated Statement of Financial Activities | 14 |
| Charity Statement of Financial Activities | 15 |
| Balance Sheet and Consolidated Balance Sheet | 16 – 17 |
| Statement of Cashflows and Consolidated Statement of Cashflows | 18 |
| Notes to Financial Statements | 19 – 33 |
The Nutritional Wellbeing Foundation Reference and Administrative Details For the Period from 14 July 2023 - 31 August 2024
| Trustees | N Arnold |
|---|---|
| P Blight | |
| C Lamb | |
| C Marks | |
| C Perera | |
| R Seymour | |
| Charity Number | 1203987 |
| Principal Address and Registered Office | Goodwood House |
| Blackbrook Park Avenue | |
| Taunton | |
| Somerset | |
| TA1 2PX | |
| Auditors | Albert Goodman LLP |
| Goodwood House | |
| Blackbrook Park Avenue | |
| Taunton | |
| Somerset | |
| TA1 2PX | |
| Bankers | Barclays Bank |
| 1 Churchill Place | |
| London | |
| E14 5HP |
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The Nutritional Wellbeing Foundation Trustees’ Report For the Period from 14 July 2023 - 31 August 2024
The Trustees present their Report and Financial Statements for the period from 14 July 2023 to 31 August 2024. We are satisfied that the Financial Statements comply with the requirements of the Charities Act 2011, the Trust Deed as referenced below 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) – (Charities SORP (FRS 102)).
Structure, Governance and Management
The Nutritional Wellbeing Foundation (NWF) is a new grantmaking charitable foundation based in the UK. Its mission is to improve people’s health and wellbeing by advancing the understanding of nutrition and its importance for health as well as supporting increasing access to healthy food.
NWF was registered as a Charitable Incorporated Organisation (CIO) on 14[th] July 2023 (Charity No. 1203987).
Although a new charity, NWF is continuing the grantmaking previously undertaken by The AIM Foundation (AIM), a family foundation which from 2018 to 2023 awarded over £1 million in grants from a restricted fund to charitable organisations working to improve nutritional health.
Recognising the potential for greater impact, AIM’s Trustees established NWF as a dedicated foundation to focus exclusively on nutrition for health and wellbeing. This aligns more closely with the original vision of the founder trustee, I.R. Marks, who in 1999 gifted his personal shares in Cytoplan Limited, a science-based, bio-effective supplement company.
On 30th November 2023, AIM gifted its 100% shareholding in Cytoplan to NWF, making NWF the sole owner of Cytoplan. Each year, Cytoplan’s board approves donations to NWF based on operating profits and business plans, ensuring a sustainable funding stream for the Foundation’s charitable activities.
NWF has assumed responsibility for all multi-year nutrition grant commitments previously made and managed by AIM. This continuity allows NWF to maintain support for existing charitable partners while recruiting experienced Trustees, collaborating with the Cytoplan board, and developing its strategic agenda for future grant-making.
While maintaining a clear separation between NWF’s charitable activities and Cytoplan’s commercial interests, both organisations benefit from shared knowledge, resources, and aligned public communications, united by their common mission to improve health and wellbeing through nutrition.
NWF has six Trustees who served during the year:
Caroline Marks (Chair appointed July 2023. Chair of The AIM Foundation since 2018) Caroline Lamb (appointed July 2023) Nigel Arnold (appointed July 2023) Candida Perera (appointed May 2024) Ruth Seymour (appointed May 2024) Paula Blight (appointed May 2024)
The Trustees meet quarterly to set strategy and budgets, review finances, approve grants and discuss other governance matters. An annual meeting at Cytoplan offices in Worcester is held with Cytoplan’s Board of Directors. The Trustees give their time freely and receive no remuneration or other financial benefits, although they are entitled to be reimbursed for expenses directly.
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The Nutritional Wellbeing Foundation Trustees’ Report For the Period from 14 July 2023 - 31 August 2024
NWF has two part-time freelance staff. Emma Beeston, philanthropy advisor, has supported the AIM and NWF Trustees throughout the governance process of setting up NWF as a separate charity. She continues to advise NWF with facilitating the strategy review and development, researching and assessing charities, and generally strengthening governance. Sarah Irving, Foundation Manager, is responsible for the day-today operations of the NWF, grant and financial management and other governance issues.
Risk Management
The Trustees have identified and assessed the major risks facing NWF, including financial sustainability, governance challenges, and external economic factors. To mitigate these risks, NWF has implemented robust internal controls, a reserves policy, and a grant management database to ensure effective oversight and monitoring of the charity’s operations.
Objectives and Activities
The Foundation’s objectives are the promotion of public health through the use of natural products and the advancement of integrated health care in such manner as is exclusively charitable, for the benefit of the public, including but not limited to educating the public about the benefits of nutritional health care and promoting study and research in such subjects provided that the useful results of such study are disseminated to the public at large.
Funding Strategy
In November 2024, the Trustees reviewed and refined NWF’s grant-making strategy, focusing on two key priorities:
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Improving understanding of nutrition and its importance for health.
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Increasing access to healthy food.
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The primary focus is current to award grants to organisations working in Secondary School Communities, specifically funding initiatives aimed at:
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Educating young people and their families to create lasting behaviour change.
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Improving access to healthy food in and around schools.
The Trustees are also reviewing ongoing work in health settings and with health practitioners, with potential future funding for initiatives that prevent adult ill health caused by poor diets.
Grant Making Policy
The Trustees’ policy is to provide funding to organisations with charitable purposes. We have regard to the Charity Commission's general guidance on public benefit when reviewing the grant making policy for the year. We support registered charities and community interest companies operating for public benefit and there is a clear policy of not supporting individuals.
NWF may offer one-year grants in the first instance but provides multi-year funding as relationships develop. Our funding includes unrestricted, core or project funding. In some instances, we award development grants to cover the costs of developing an idea to proposal stage.
The following principles guide our approach:
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The Nutritional Wellbeing Foundation Trustees’ Report For the Period from 14 July 2023 - 31 August 2024
Respect for those working in the sector – we try and limit the time spent on proposals and reports; we only approach organisations and ask for their time when we think there is a strong likelihood that we will fund their work; we are driven by what they tell us they need; we provide unrestricted funds where all the organisation’s work aligns with AIM’s priorities or where a strong relationship has been built. In other situations, funds will be broadly restricted – to fund a particular area of work but not tied to specific costs.
Openness – we share the likelihood of funding and details of our process with potential grantees; we publish all our grants on 360giving ; we commit to letting grantees know when the funding relationship is coming to an end with as much notice as possible; we conduct grantee surveys to gather anonymous feedback from those we support in order to learn and improve.
Collaboration – we encourage our grantees to work together and support the costs of collaboration; we are keen to work with other funders.
Relationships matter – we seek to build long-term relationships with those we fund. We hold initial conversations to learn about an organisations work; we aim to provide longer and less restricted funding over time; we provide continuation funding.
A full list of current grants is shown at the end of the financial statements.
Reserves Policy
The Nutritional Wellbeing Foundation maintains financial reserves to ensure its long-term sustainability and ability to fulfil its charitable objectives. The Foundation aims to hold reserves equivalent to 18 months of its annual expenditure, providing a buffer against unforeseen financial challenges and ensuring continuity of its grantmaking activities. Reserves are reviewed by the Board of Trustees to ensure they remain appropriate to the Foundation’s needs and circumstances.
Grants awarded during 2023/24
During the 2023/24 financial year, AIM/NWF awarded six multi-year grants totalling £239,995. Five of these grants initiated by AIM, which are now the responsibility of NWF, while one new grant was awarded by NWF. Below is an overview of active grants at year end:
First Steps Nutrition Trust - £120,000 over 3 years (1[st] payment £40,000 in 2023/24 )
This organisation is dedicated to ensuring that all children in the UK eat well from the start of life, focusing on the period from preconception to age five. Their work aims to address high national levels of obesity/overweight, and dental decay by creating a policy environment that supports healthy eating in the early years and improving dietary habits in line with public health recommendations. First Steps Nutrition develops and disseminates expert, conflict-of-interest-free resources for health workers, early years professionals, and parents to support healthy eating practices.
Nutritank - £155,000 over 3 years (2[nd] payment of £40,000 in 2023/24)
Since 2019 AIM has been funding the work of Nutritank, a community interest company founded in 2016 by two trailblazing medical students who wanted to address the lack of education & awareness around nutrition and lifestyle medicine.
Today Nutritank provides a range of resources for medics and other health professionals, on various topics around nutrition and lifestyle medicine, including exercise, sleep and mental wellbeing. They also operate at a grassroots level in over 65% of medical schools in the UK. The NWF is supporting Nutritank’s core costs, which is helping them to scale their work.
In early 2025 Nutritank announced they have been commissioned by Cornwall NHS to provide training to their staff.
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The Nutritional Wellbeing Foundation Trustees’ Report For the Period from 14 July 2023 - 31 August 2024
Institute of Health Visiting - £120,000 over 3 years (2[nd] payment of £40,000 in 2023/24)
AIM started funding Institute of Health Visiting’s (iHV) work back in in 2018, recognising the importance of their Healthy Weight, Healthy Nutrition training programme - an evidence-based, holistic approach to upskill health practitioners to be confident in having conversations with families around healthy nutrition (from the pre-conception period onwards), physical activity and oral health – all of which are significant contributors to healthy weight.
In April 2023, a further 3 year grant was awarded to iHV. This is helping to build on the success of their programme, by developing and embedding the principles of effective practice, and recruiting new Champions and Ambassadors.
Culinary Medicine UK- £120,000 over 3 years (2[nd] payment of £40,000 in 2023/24)
Culinary Medicine UK is a non-profit organisation aiming to empower health professionals to talk confidently about food in medicine, by combining nutrition science with hands on cooking and culinary skills. Their aim is to promote “sustainable, affordable, equitable and healthy food for all” and their flagship online course has been accessed by thousands of health professionals.
This latest core funding grant was the fourth awarded by AIM/NWF, and it will help support the further development of CMUK’s programmes.
School Food Matters - £100,000 over 2 years (2[nd] payment of £50,000 in 2023/24)
School Food Matters exists to teach children about food and to improve access to healthy, sustainable food during their time at school.
This funding contributed to a pilot programme to improve the food offered in London schools’ breakfast and after school clubs, and helping schools to develop and implement school food policies which put children’s health first.
Our latest grant awarded in 2024 is towards their Healthy Zones Programme, which is supporting more London schools to adopt a whole school approach to healthier eating.
Sustain - £94,998 over 3 years (2[nd] payment of £29,995 in 2023/24)
Sustain is an alliance of organisations and communities working together for better food, farming, and fishing. They advocate for food and agriculture policies and practices that have the health and welfare of people and animals at their centre.
Since 2021 AIM/NWF has been supporting Sustain’s Children’s Food Campaign for universal healthy free school meal provision in England.
Financial Review
The results include the audited financial statements of Cytoplan Limited and its wholly owned subsidiaries, Nature’s Own Limited and Biogrow Limited, from the date of acquisition (1 December 2023). The results of the subsidiaries are detailed in Note 4.
Gift Aid payments totalling £500,000 have been made from Cytoplan Limited to NWF.
Since the set-up of NWF, the unspent reserves of £429,605 in AIM’s restricted fund were transferred to NWF in early 2024, along with the commitments made towards nutritional grants of £391,503.
Within the group accounts, there was an extraordinary item being the receipt of the net assets of Cytoplan Limited as at the date of donation of £5,759,059. Within the charity accounts, this is limited to the share capital received of £455,000.
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The Nutritional Wellbeing Foundation Trustees’ Report For the Period from 14 July 2023 - 31 August 2024
The consolidated results for the period show income of £7,725,083 and a surplus of £6,096,621 after the inclusion of the extraordinary items outlined above.
The charity results as a standalone entity show income of £503,391 and a surplus of £855,419 after the inclusion of the extraordinary items outlines above.
The charity has awarded new grants of £120,000 in this period (including future year commitments) and physically made grant payments of £239,995. Further details of this are set out in Note 22.
At the 31[st] August 2024 the charity held £681,157 cash. Since the year end some of this cash has been put into a higher interest account managed by Cazenove.
Cytoplan Limited Corporate Responsibility Report
The Trustees have received, adopted and endorsed the Cytoplan Limited report written on our behalf by the executive team.
Our Ethos
Cytoplan’s mission is:
In a world of increasing chronic disease, we empower people to live longer and better .
We do this by:
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The products we sell
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The education and information we present
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The money we make for the charity
As a management team and a business, we believe products we sell help people with health issues and help prevent health issues as part of a healthy lifestyle, the education and information we provide support people in their journey with a specific issue or whether they are trying to live a healthier life, and all the money we make as a business is available for the charity to spend on good causes that assist others. We are on a 3- year strategic cycle where we aim to achieve a turnover of £15 million by 2027, as well as create a positive change for over 80k people a year.
Cytoplan is focused on creating and distributing the most Bio-effective supplements on the market, which means our products contain nutrients that are designed to be as easily absorbed as possible by the body and then specifically targeted to be utilised for their intended purpose.
We have historically been a practitioner brand, and it’s important for customers to know our products are practitioner-recommended, our products are tried and tested by thousands of health professionals every day to support their patients' needs.
We understand that there are two major needs driving our customers to shop with us:
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Therapeutic - Customers have specific issues, such as joint concerns or digestive problems that our products can help resolve.
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Preventative - Customers are generally healthy but are taking active steps to maintain their well-being through diet and lifestyle changes, and our products are part of these changes.
Both customer groups love life and aim to be heathier for longer by taking our products.
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The Nutritional Wellbeing Foundation Trustees’ Report For the Period from 14 July 2023 - 31 August 2024
Education and information have always been part of our proposition at Cytoplan, and we believe that a natural approach to looking after yourself and the decisions you make holds the key to a happier and healthier life. Therefore, we often run educational talks and webinars on how people can improve their health through diet and lifestyle changes beyond the supplements we offer.
Performance Overview 2023/24
The financial year turnover finished at £10.1 million which is a YOY increase of 10.2%. The consumer customer group grew by 14%, the Practitioner customer group Grew by 10% and Export B2B grew by 21%.
During the year we recruited 34k new customers which is 8% up on the previous year. Existing customers 36k was 8% up. Our product margins continue to perform well, averaging 69% over the year, due to robust management of suppliers and a considered cost-plus pricing strategy.
Trends
We are observing a trend in magnesium sales with a significant increase in demand. Other trends throughout the year for taurine had a short-term impact. Vitamin D demand remains strong, even though this market is now very competitive and saturated.
Practitioners are holding less stock in favour of directing clients to shop directly with us. Most practitioners have moved to a hybrid model where they only see a limited amount of clients face-to-face.
Subscribe and Save is now part of most supplement brands’ propositions; Cytoplan launched a subscription service in April 2024, with promising early results
Financial or Operational Risks
Risks included moving to new premises, managing the building programme and managing costs. However, the build came in on budget, and during the move in May 2024, we had only one day where we didn’t dispatch orders.
Cybersecurity is a significant risk for all businesses, especially e-commerce-related businesses. We work with third parties to ensure our technology estate is as secure as possible and to ensure training is conducted for all staff members.
Our Environmental Policy
At Cytoplan, we are environmentally conscious, with an ongoing commitment to progressive changes.
Current:
Energy from renewable sources: solar panels are now utilised for a percentage of our energy usage, and diesel generators were sold and replaced by solar panels. We request suppliers to provide Cytoplan with their environmental policies to ensure our values are aligned, giving preference (where the product allows) to suppliers that are aware of and working to reduce their environmental impact. We have changed to biodegradable Jiffy bags, allowing for a more environmentally friendly delivery option, with up to 1,100 orders processed daily.
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The Nutritional Wellbeing Foundation Trustees’ Report For the Period from 14 July 2023 - 31 August 2024
Future:
We will set targets around our GHG emissions/carbon footprint, aiming to reduce our environmental impact by decreasing carbon emissions from scope 1 and scope 2 by a percentage per year relative to turnover. A bike rack will be installed to encourage cycling to work rather than driving. Electric charging points are in place and will be activated later this year. As part of BCorp, we are collaborating with suppliers to ask them, where possible, to report on their environmental impact and carbon footprint, as well as any processes or targets they have set and whether they are achieving them. As part of a wider brand review, we will assess our packaging to determine if we can use more environmentally friendly options (recycled as well as recyclable) while maintaining product quality and stability.
The Well-Being of Cytoplan Staff
We have established a new onboarding programme so that all new starters have the chance to hear from each department about their contribution to Cytoplan. We have set up a social committee with a representative from each department to discuss issues facing the business from an employee perspective and to recommend changes and events that can support our staff; the social committee meets once a quarter.
Each year, we offer up to £250 per person for any complementary therapy, in addition to a list of other benefits. Hybrid working is available for some positions, if the roles allow it. Other benefits include five free products per month and encouragement of healthy lifestyles. We provide access to online GP appointments and mental, emotional, and practical help as needed on an individual basis. We retain the services of an Employee Assistance Programme provider for our staff.
There is an annual company-wide bonus related to product sales, and staff are kept informed about business performance monthly through emails, on notice boards, and once a quarter during a company-wide meeting to which everyone is invited.
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The Nutritional Wellbeing Foundation Trustees’ Report For the Period from 14 July 2023 - 31 August 2024
Statement of 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 including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (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 income and expenditure of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements, and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for maintaining proper accounting records which 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/constitution. 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.
The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
The Trustees’ Report was approved by the trustees on 03 June 2025 and signed on their behalf by:
C D Marks - Trustee
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The Nutritional Wellbeing Foundation Independent Auditors' Report to the Trustees and Members For the Period from 14 July 2023 - 31 August 2024
Opinion
We have audited the financial statements of The Nutritional Wellbeing Foundation (the 'parent charity') and its subsidiaries (the ‘group’) for the period from 14 July 2023 to 31 August 2024, which comprise the consolidated and parent charity Statement of Financial Activities, the consolidated and parent charity Balance Sheets, the consolidated and parent charity Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
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give a true and fair view of the state of the group’s and of the parent charity's affairs as at 31 August 2024 and of the group’s incoming resources and application of resources for the period then ended;
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• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustee’s use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the original financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of the report.
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The Nutritional Wellbeing Foundation Independent Auditors' Report to the Trustees and Members For the Period from 14 July 2023 - 31 August 2024
Other information
The other information comprises the information included in the Trustees’ Report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to report to you if, in our opinion:
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the information given in the financial statements is inconsistent in any material respect with the Trustees’ Report;
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sufficient accounting records have not been kept;
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the financial statements are not in agreement with the accounting records and returns; and
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we have not received all the information and explanations we require for the purposes of our audit.
Responsibilities of trustees
As explained more fully in the Statement of Trustees' Responsibilities set out on page 9, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the group and parent charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the parent charity or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
We have been appointed as auditor under the Charities Act 2011, Section 151 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
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The Nutritional Wellbeing Foundation Independent Auditors' Report to the Trustees and Members For the Period from 14 July 2023 - 31 August 2024
Irregularities including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlines above, to detect misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
The extent to which the audit was considered capable of detecting irregularities including fraud
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
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the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
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we identified the laws and regulations applicable to the charity through discussions with management, and from our commercial knowledge and experience of the charity and grant making sector;
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we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charity, including the Charities Act 2011, fundraising regulator, anti-bribery and data protection legislation;
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we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
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identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the group’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
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making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
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considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
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performed analytical procedures to identify any unusual or unexpected relationships;
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tested journal entries to identify unusual transactions;
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assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
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investigated the rationale behind significant or unusual transactions.
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In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
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agreeing financial statement disclosures to underlying supporting documentation;
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reading the minutes of meetings of those charged with governance;
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enquiring of management as to actual and potential litigation, claims and breaches of relevant legislation; and
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reviewing correspondence with the Charity Commission and other relevant regulators including the charity’s legal advisors and insurers.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of noncompliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
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The Nutritional Wellbeing Foundation Independent Auditors' Report to the Trustees and Members For the Period from 14 July 2023 - 31 August 2024
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the group and parent charity’s members, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the group and parent charity’s members and trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the group and parent charity and the group and parent charity’s members as a body and the parent charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Albert Goodman LLP , Statutory Auditor
Goodwood House Blackbrook Park Avenue Taunton Somerset TA1 2PX
Date: 05 June 2025
Albert Goodman LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.
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The Nutritional Wellbeing Foundation Consolidated Statement of Financial Activities For the Period from 14 July 2023 - 31 August 2024
----- Start of picture text -----
Period from 14 July 2023-
31 August
Unres- Res- 2024
tricted tricted Total
Notes £ £ £
Income
Income from other trading activity:
Commercial trading operations 4 7,682,022 - 7,682,022
- - -
Donations and legacies
Investment income 3 43,061 - 43,061
Total income 7,725,083 - 7,725,083
Expenditure
Expenditure on raising funds:
Commercial trading operations 4 7,284,549 - 7,284,549
- - -
Investment management costs
Expenditure on charitable
activities 5 141,074 - 141,074
-
Total expenditure 7,425,623 7,425,623
-
Net income/(expenditure) for the period 299,460 299,460
Extraordinary item 21 5,797,161 - 5,797,161
Net (expenditure)/income and
net movement in funds 6,096,621 - 6,096,621
Reconciliation of funds
- - -
Total funds brought forward
Total funds carried forward 16 6,096,621 - 6,096,621
----- End of picture text -----
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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The Nutritional Wellbeing Foundation Parent Charity Statement of Financial Activities For the Period from 14 July 2023 - 31 August 2024
----- Start of picture text -----
Period from 14 July 2023-
31 August
Unres- Res- 2024
tricted tricted Total
Notes £ £ £
Income
-
Donations and legacies 500,020 500,020
Investment income 3,371 - 3,371
Total income 503,391 - 503,391
Expenditure
Expenditure on charitable
activities 5 141,074 - 141,074
-
Total expenditure 141,074 141,074
Extraordinary item 21 493,102 - 493,102
Net (expenditure)/income and
net movement in funds 855,419 - 855,419
Reconciliation of funds
- - -
Total funds brought forward
Total funds carried forward 16 855,419 - 855,419
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The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
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The Nutritional Wellbeing Foundation Balance Sheet and Consolidated Balance Sheet As at 31 August 2024
| Notes Fixed assets Intangible assets 9 Tangible assets 10 Investments 11 Current assets Stock 12 Debtors 13 Cash at bank and in hand Liabilities: Creditors: amounts falling due within 14 one year Net current assets Total assets less current liabilities Creditors: amounts falling due after one year 14 Provisions: Deferred taxation 15a Provisions: Other 15b Net Assets Funds: Unrestricted funds: General funds Restricted funds Total funds 16 |
Group 2024 £ 24,145 4,372,150 - 4,396,295 1,547,890 419,367 2,119,076 4,086,333 (1,444,744) 2,641,589 7,037,884 (47,300) (95,788) (798,175) 6,096,621 6,096,621 6,096,621 - 6,096,621 |
Charity 2024 £ - - 455,000 455,000 - 1,990 681,157 683,147 (242,728) 440,419 895,419 (40,000) - - 855,419 855,419 855,419 - 855,419 |
|---|---|---|
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The Nutritional Wellbeing Foundation Balance Sheet and Consolidated Balance Sheet As at 31 August 2024
The notes on pages 19 – 33 form part of these accounts.
Approved by the Board for issue on 03 June 2025 and signed on their behalf by:
C D Marks - Trustee
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The Nutritional Wellbeing Foundation Consolidated and Parent Charity Cash Flow Statement For the Period from 14 July 2023 - 31 August 2024
| For the period from 14 July | For the period from 14 July | ||
|---|---|---|---|
| 2023 - 31 August 2024 | |||
| Group | Charity | ||
| Note | £ | £ | |
| Cash flows from operating activities | |||
| Net income/ (expenditure) for the year | 6,096,621 | 855,419 | |
| Adjustments: | |||
| Amortisation of intangibles | 9 | 46,977 | - |
| Depreciation | 10 | 129,916 | - |
| Loss on sale of assets | 17,610 | - | |
| 6,291,124 | 855,419 | ||
| Working capital adjustments: | |||
| (Increase) / decrease in stocks | 12 | (1,547,890) | - |
| (Increase) / decrease in debtors | 13 | (419,367) | (1,990) |
| (Decrease) / increase in creditors | 14 | 1,492,044 | 282,728 |
| (Decrease) / increase in provisions & deferred tax | 15b | 893,963 | - |
| Net cash provided by operating activities | 6,709,874 | 1,136,157 | |
| Cash flows from investing activities: | |||
| Acquisition of intangible assets | 9 | (71,122) | - |
| Acquisition of tangible assets | 10 | (4,520,943) | - |
| Proceeds from sale of tangible assets | 1,267 | - | |
| Acquisition of fixed asset investments | 11 | - | (455,000) |
| Net cash flow from investing activities | (4,590,798) | (455,000) | |
| Net increase/(decrease) in cash | |||
| and cash equivalents | 2,119,076 | 681,157 | |
| Cash and cash equivalents at 14 July 2023 | - | - | |
| Cash and cash equivalents at 31 August 2024 | 2,119,076 | 681,157 | |
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The Nutritional Wellbeing Foundation Notes to the Financial Statements For the Period from 14 July 2023 - 31 August 2024
1 General information
The Nutritional Wellbeing Foundation is a private trust, registered as a charity. Details of the charity including the registered office is shown in Reference and Administrative details in the Trustees Report. The charity was registered with the Charity Commission on 14 July 2023 and commenced operation following the receipt of a donated company on 1 December 2023.
2 Accounting policies
The principal accounting policies adopted, judgements 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 under the historical cost convention, as modified by the revaluation of investments.
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) and the Companies Act 2011.
The trustees have assessed the charity’s activities with regard to the Charity Commission’s guidance on public benefit. The Nutritional Wellbeing Foundation meets the definition of a public benefit entity under FRS 102.
The financial statements have been prepared on a going concern basis and the Trustees are not aware of any material uncertainties that would cast doubt on the charity’s ability to continue as a going concern. Grants are awarded only when there are sufficient reserves and income, therefore the Trustees consider that the going concern assumption remains appropriate.
The functional currency of The Nutritional Wellbeing Foundation is considered to be Pounds Sterling as that is the currency of the primary economic environment in which the foundation operates.
b Group accounts
These financial statements consolidate the results of the charity and its wholly owned subsidiaries, Cytoplan Limited, Nature’s Own Limited and Biogrow Limited, on a line by line basis, with results included for the period of ownership by The Nutritional Wellbeing Foundation (the group companies have a year end of 31 August, and the companies were acquired by the charity on 1 December 2023). The subsidiaries are registered companies incorporated in England and Wales.
In the parent charity financial statements, the investment in subsidiaries is accounted for at value of the issued share capital.
c Funds structure
Unrestricted funds comprise accumulated surpluses and deficits on general funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
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The Nutritional Wellbeing Foundation Notes to the Financial Statements For the Period from 14 July 2023 - 31 August 2024
e
Income
All income is included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies apply to categories of income:
-
Donation and legacies is received by way of donations and gifts and is included in full in the Statement of Financial Activities, when receivable.
-
Grants where entitlement is not conditional on the delivery of specific performance by the charity are recognised when the charity is entitled to the grant.
-
Income from trading activities is included in the SOFA in the period to which it relates.
-
f
Financial instruments
Financial assets and liabilities are recognised/(derecognised) when the charity becomes/(ceases to become) party to the contractual provisions of the instrument. The charity holds the following basic financial assets and liabilities:
-
Short term debtors and creditors:
-
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price.
-
Fixed asset investments qualifying as basic financial instruments: Non-basic equity investments are measures at fair value through income and expenditure.
Other financial instruments not qualifying as basic:
- Convertible loan stock has been recognised as a non-basic investment. All non-basic investments are carried at fair value except to the extent that a reliable measurement of fair value cannot be established, in which case the investment is carried at cost less impairment.
g
Expenditure
All expenditure is accounted for on an accruals basis and has been classified under headings which aggregate all costs related to the category. Grants payable represent amounts committed for charitable purposes to institutions in the financial period.
- h
Intangible assets
Intangible assets are amortised straight line over the useful life of the asset.
Computer software and consultancy – 20% and 33.3% straight line basis
- i Fixed assets
Tangible fixed assets costing more than £500 are capitalised and included at cost including any incidental expenses of acquisition.
- j
Depreciation
Depreciation is calculated so as to write off the cost of an asset over its useful economic life of that asset as follows:
Improvements to Property straight line over 3 to 5 years Plant and machinery straight line over 3 to 10 years Motor vehicles straight line over 5 years Computer equipment straight line over 3 to 5 years
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The Nutritional Wellbeing Foundation Notes to the Financial Statements For the Period from 14 July 2023 - 31 August 2024
k Fixed asset investments
Investments which are publicly traded are recognised initially at fair value which is normally the transaction price (but excludes any transaction costs). Subsequently, investments which are publicly traded are held at market value, with all realised and unrealised gains and losses passing through the SOFA.
Investments which are not publicly traded are held at cost less impairment.
- l
Gains and losses
All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and opening market value (or purchase date if later). Unrealised gains and losses are calculated as the difference between the market value at the year end and opening market value (or purchase date if later). Realised and unrealised gains are not separated in the Statement of Financial Activities.
- m
Stocks
Stock is included at the lower of cost or net realisable value, after making due allowance for obsolete and slow-moving items. Cost comprises all direct expenditure including variable overheads.
Operating lease agreements
n Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
Defined contribution pension costs
The trading subsidiaries operate a defined contribution scheme for employees. The assets of the scheme are held separately from those of the charity. The annual contributions payable are charged to the Statement of Financial Activities (SOFA). The charity itself has no employees.
- p
Other pensions
The subsidiary company has an unfunded pension obligation to a director. The financial statements include a provision for the expected cost of providing this pension, based on the company assessment of the expected future liability to the company.
- q Irrecoverable VAT
Irrecoverable VAT is charged as a cost within the Statement of Financial Activities.
3 Investment Income
| Unrestricted | |
|---|---|
| 14 July 2023 - | |
| 31 August 2024 | |
| £ | |
| Interest receivable | 43,061 |
| 43,061 |
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The Nutritional Wellbeing Foundation Notes to the Financial Statements For the Period from 14 July 2023 - 31 August 2024
4 Investment in subsidiaries
Cytoplan Limited/Nature’s Own Limited/Biogrow Limited
On 1 December 2023, The Nutritional Wellbeing Foundation acquired 100% of the issued share capital and 100% of the voting rights of Cytoplan Limited (company number 01493205).
Nature’s Own Limited (company number 02401115) and Biogrow Limited (company number 12025572) are wholly owned subsidiaries of Cytoplan Limited. The registered address of the wholly owned trading subsidiaries is: Unit 98B, Cytoplan Ltd, Blackpole Trading Estate West, Worcester, WR3 8TJ. The wholly owned trading subsidiaries are incorporated in the United Kingdom. The principal activity of Cytoplan Limited and Nature’s Own Limited is the supply of vitamin, mineral, and enzyme preparations. The principal activity of Biogrow Limited is the growing of non-perennial crops. Nature’s Own Limited is currently dormant. The pro forma consolidated results for Cytoplan Limited and Biogrow Limited since the date of acquisition are as follows:
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2024
Summary profit and loss account £
Turnover 7,682,022
7,682,022
Cost of sales, distribution and admin expenses (7,284,549)
Operating profit / (loss) 397,473
Profit / (loss) on disposal of tangible fixed assets (17,610)
Interest receivable 39,690
Taxation (132,755)
Gift aid to parent charity (500,020)
Retained profit / (loss) for the year (213,222)
The assets and liabilities of the subsidiaries were:
Intangible assets 24,145
Tangible fixed assets 4,372,150
Investments 200
Current assets 3,403,160
Creditors: amounts falling due within one year (1,202,016)
Total assets less current liabilities 6,597,639
Creditors: amounts due falling after one year (7,300)
Deferred taxation (95,788)
Provisions (798,175)
Aggregate share capital and reserves 5,696,376
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The Nutritional Wellbeing Foundation Notes to the Financial Statements For the Period from 14 July 2023 - 31 August 2024
5 Charitable activities
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Unrestricted
14 July 2023 -
31 August 2024
£
Grants payable (see note 22) 120,000
Governance costs - Audit and accountancy 10,680
Other fees and expenses 10,394
141,074
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6 Staff costs
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2024
£
Wages and salaries 1,361,341
Social security costs 115,336
Pension costs 150,439
Staff redundancy costs 23,000
1,650,116
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The average number of employees during the year, calculated on the basis of full-time equivalents, was as follows:
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2024
Number
Subsidiaries 50
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There were no employees of the charity during the period.
Trustees are not remunerated. During the period, five trustees were reimbursed travel expenses of £700. The trustees consider the Board of Trustees to comprise all of the key management personnel and therefore there is no key management personnel remuneration to be disclosed.
Total staff costs include redundancy costs of £23,000 payable to 3 individuals. These amounts were in full and final settlement, with no amounts owing at the year end.
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The Nutritional Wellbeing Foundation Notes to the Financial Statements For the Period from 14 July 2023 - 31 August 2024
The number of employees (all employed within the trading subsidiaries) whose annual employee benefits (excluding employers pension contribution) exceeded £60,000 were:
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2024
Number
£80,000 - £89,999 1
£90,000 - £99,999 1
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7 Net income/ (expenditure) for the year
This is stated after charging:
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Charity Subsidiary Total
2024 2024 2024
£ £ £
-
Amortisation of intangible assets 46,977 46,977
-
Depreciation of tangible assets 129,916 129,916
Current auditors’ remuneration for:
Audit services 4,800 15,825 20,625
Accounting services 5,880 2,600 8,480
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8 Defined contribution pension scheme
The subsidiary company operates a defined benefit pension scheme. The pension cost charge for the year represents contributions payable by the group to the scheme and amount to £150,439. Contributions totalling £15,985 were payable to the scheme at the end of the year and are included in other creditors.
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The Nutritional Wellbeing Foundation Notes to the Financial Statements For the Period from 14 July 2023 - 31 August 2024
9 Intangible Assets
----- Start of picture text -----
Computer
Group Software
£
Cost
-
At 14 July 2023
Addition by way of subsidiary acquisition 379,089
Additions 2,463
Disposals (160,212)
At 31 August 2024 221,340
Amortisation
-
At 14 July 2023
Depreciation on assets aquired 310,430
Charge for the year 46,977
Depreciation eliminated on disposal (160,212)
At 31 August 2024 197,195
Net book value
At 31 August 2024 24,145
-
At 14 July 2023
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There are no intangible assets held by the parent charity.
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The Nutritional Wellbeing Foundation Notes to the Financial Statements For the Period from 14 July 2023 - 31 August 2024
10 Tangible fixed assets
| Group Cost At 14 July 2023 Addition by way of subsidiary acquisition Additions Disposals At 31 August 2024 Depreciation At 14 July 2023 Depreciation on assets aquired Charge for the year Depreciation eliminated on disposals At 31 August 2024 Net book value At 31 August 2024 At 14 July 2023 |
Land and Buildings £ - 294,416 4,076,936 (294,416) |
Plant and equipment £ - 657,529 70,002 (150,126) |
Motor vehicles £ - 27,999 - - |
Total £ - 979,944 4,146,938 (444,542) |
|---|---|---|---|---|
| 4,076,936 | 577,405 | 27,999 | 4,682,340 | |
| - (255,332) (53,473) 290,851 |
- (338,474) (70,843) 134,814 |
- (12,133) (5,600) - |
- (605,939) (129,916) 425,665 |
|
| (17,954) | (274,503) | (17,733) | (310,190) | |
| 4,058,982 | 302,902 | 10,266 | 4,372,150 | |
| - | - | - | - | |
There are no tangible fixed assets held by the parent charity.
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The Nutritional Wellbeing Foundation Notes to the Financial Statements For the Period from 14 July 2023 - 31 August 2024
11 Fixed assets – Investments
----- Start of picture text -----
2024
Group Charity
£ £
Unlisted investment
Cost b/fwd - -
Addition 455,000
-
455,000
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The charity has one unlisted investment in the subsidiary as detailed in note 4 to the accounts.
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12 Stocks
2024
Group Charity
£ £
-
Finished goods 1,547,890
13 Debtors
2024
Group Charity
£ £
Trade debtors 238,378 -
Other debtors 180,989 1,990
419,367 1,990
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The Nutritional Wellbeing Foundation Notes to the Financial Statements For the Period from 14 July 2023 - 31 August 2024
14 Creditors: Amounts falling due within one year
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2024
Group Charity
£ £
Trade creditors 472,142 -
-
Other taxation and social security 173,147
Other creditors 83,785 -
Multi year grant commitments 231,508 231,508
Accruals and deferred income 484,162 11,220
1,444,744 242,728
Creditors: Amounts falling due in more than one year
2024
Group Charity
£ £
Multi year grant commitments 40,000 40,000
Accruals and deferred income 7,300 -
47,300 40,000
15 a) Provisions - Deferred taxation
2024
Group Charity
£ £
- -
At 14 July 2023
-
Acquisition of subsidiary company 72,829
-
(Charge)/credit for the year (168,617)
-
At 31 August 2024 (95,788)
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Deferred taxation arises in respect of fixed asset timing differences and in relation to the provision for the pension liability for corporation tax purposes in Cytoplan Limited.
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The Nutritional Wellbeing Foundation Notes to the Financial Statements For the Period from 14 July 2023 - 31 August 2024
15 b) Provisions - Other
| At 14 July 2023 Acquisition of subsidiary company New provision in year Charge/(credit) for the year At 31 August 2024 |
Group £ - 674,971 185,938 (62,734) 798,175 |
2024 Charity £ - - - |
|---|---|---|
| - | ||
16 Funds
2024
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Funds analysis - group Opening Incoming Outgoing Closing
balance Resources Resources Transfers balance
14 July 2023 31 Aug 2024
£ £ £ £ £
Unrestricted funds
Unrestricted funds - 13,522,244 (7,425,623) - 6,096,621
Total funds - 13,522,244 (7,425,623) - 6,096,621
2024
Funds analysis - charity Opening Incoming Outgoing Closing
balance Resources Resources Transfers balance
14 July 2023 31 Aug 2024
£ £ £ £ £
Unrestricted funds
Unrestricted funds - 996,493 (141,074) - 855,419
Total funds - 996,493 (141,074) - 855,419
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The Nutritional Wellbeing Foundation Notes to the Financial Statements For the Period from 14 July 2023 - 31 August 2024
17 Analysis of group net assets between funds
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2024 Unrestricted Restricted Total
funds funds funds
£ £ £
-
Fixed assets 4,396,295 4,396,295
-
Current assets 4,086,333 4,086,333
-
Other net current liabilities (1,484,744) (1,484,744)
-
Long term liabilities (7,300) (7,300)
-
Provisions (798,175) (798,175)
-
6,096,621 6,096,621
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Analysis of parent charity net assets between funds
2024 Unrestricted Restricted Total
funds funds funds
£ £ £
-
Fixed assets 455,000 455,000
-
Current assets 683,147 683,147
Other net current liabilities (242,728) - (242,728)
-
895,419 895,419
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18 Financial Instruments
Categorisation of financial instruments
| Categorisation of financial instruments |
||
|---|---|---|
| Financial assets Financial assets measured at amortised cost Financial liabilities Financial liabilities measured at amortised cost |
Group £ 2,359,444 2,359,444 (1,302,912) (1,302,912) |
2024 Charity £ 683,147 |
| 683,147 | ||
| (282,728) | ||
| (282,728) | ||
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The Nutritional Wellbeing Foundation Notes to the Financial Statements For the Period from 14 July 2023 - 31 August 2024
----- Start of picture text -----
2024 - Group Income Expenditure Net gains Net losses
£ £ £ £
- - -
Financial assets measured at amortised cost 39,690
- - -
39,690
2024 - Charity Income Expenditure Net gains Net losses
£ £ £ £
- - -
Financial assets measured at amortised cost 3,371
- - -
3,371
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19 Other financial commitments
At 31 August 2024, there were total commitments under non-cancellable operating leases as set out below:
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2024
Group Charity
£ £
Amounts payable:
-
Within one year 17,950
-
In two to five years 63,876
- -
Over five years
-
81,826
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20 Related party transactions
The charity has taken advantage of exemptions in FRS 102 “Related party disclosures” from disclosing transactions with other members of the group.
The charity’s policy is that, where trustees or their immediate family have a connection with recipient organisations, they should declare their interest.
The only transactions to be disclosed are reimbursement of trustee expenses as disclosed in note 6.
During the year, the charity acquired 100% of the shares in Cytoplan (along with its subsidiaries, Biogrow Limited and Nature’s Own Limited), from The AIM Foundation, a registered charity (number 263294), which has the same chair of trustees as The Nutritional Wellbeing Foundation. Remaining funds from previous donations received from Cytoplan Limited were transferred from The AIM Foundation, along with commitments remaining under multi-year grant agreements for nutritional causes.
The shares in Cytoplan Limited (and its subsidiaries) were transferred for £nil consideration.
The total amount received from The AIM Foundation was £429,605, with commitments to pay future grants amounting to £391,503 taken on from The AIM Foundation.
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The Nutritional Wellbeing Foundation Notes to the Financial Statements For the Period from 14 July 2023 - 31 August 2024
21 Extraordinary items – group
| Transfer of cash from AIM Transfer of commitments from AIM Value of assets held in subsidiary at date of receipt |
Unres- tricted £ 429,605 (391,503) 5,759,059 5,797,161 |
Res- tricted £ - - - - |
Total 2024 £ 429,605 (391,503) 5,759,059 |
|---|---|---|---|
| 5,797,161 | |||
| Extraordinary items - charity Transfer of cash from AIM Transfer of commitments from AIM Acquisition of Cytoplan shares |
Unres- tricted £ 429,605 (391,503) 455,000 493,102 |
Res- tricted £ - - - - |
Total 2024 £ 429,605 (391,503) 455,000 |
| 493,102 | |||
The extraordinary items arise from the acquisition of Cytoplan Limited (and subsidiaries) from The AIM Foundation. As noted in note 20 above, remaining funds from previous donations from Cytoplan Limited were received from The AIM Foundation totalling £429,605, with commitments to pay future grants amounting to £391,503 taken on from The AIM Foundation.
There were 455,000 £1 shares acquired in Cytoplan Limited, as shown within the balance sheet of the charity, and at the date of acquisition, the net asset value of Cytoplan Limited was £5,759,059 as shown within the group above. In both cases, the value acquired has been shown as a donation in the group and charity accounts as no payment was made to The AIM Foundation in relation to the acquisition.
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The Nutritional Wellbeing Foundation Notes to the Financial Statements For the Period from 14 July 2023 - 31 August 2024
22 Grants payable to institutions
----- Start of picture text -----
2024
£
Nutritank 40,000
Sustain 29,995
School Food Matters 50,000
First Steps Nutrition Trust 40,000
Institute of Health Visiting 40,000
Culinary Medicine UK 40,000
Grants paid in year 239,995
Less grants awarded in previous years:
Nutritank (40,000)
Sustain (29,995)
School Food Matters (50,000)
Institute of Health Visiting (40,000)
Culinary Medicine UK (40,000)
(199,995)
New grants awarded but not paid:
First Steps Nutrition Trust 80,000
120,000
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