BETTER HEALTH PRODUCTS LIMITED
FINANCIAL STATEMENTS
31 MARCH 2025
Company Registration Number 01049465 Registered Charity Number 264031
EDMUND CARR LLP
Chartered Accountants & Registered Auditors 146 New London Road Chelmsford Essex CM2 0AW
BETTER HEALTH PRODUCTS LIMITED
FOR THE YEAR ENDED 31 MARCH 2025
CONTENTS
| Charity information | 1 |
|---|---|
| The directors' report | 2 |
| Independent Examiner's report to the members | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 |
BETTER HEALTH PRODUCTS LIMITED
FOR THE YEAR ENDED 31 MARCH 2025
CHARITY INFORMATION
| Directors | R B McNeill | |
|---|---|---|
| A Mathews | ||
| L Dolby, RN, RMN, Dip HE Mental Health | ||
| D E Mannifield | ||
| F V Whitbread | (appointed 15 May 2024) | |
| Independent Examiner | Alex Stone | |
| Edmund Carr LLP | ||
| 146 New London Road | ||
| Chelmsford | ||
| Essex | ||
| CM2 0AW | ||
| Bankers | National Westminster Bank plc | |
| PO Box 8030 | ||
| 20 Amhurst Road | ||
| London | ||
| E8 1JJ | ||
| Company Number | 01049465 | |
| Charity Number | 264031 | |
| Registered Office | 1A Darnley Road | |
| Hackney | ||
| London | ||
| E9 6QH | ||
| Place of Business | 13 Stean Street | |
| London | ||
| E8 4ED |
1
BETTER HEALTH PRODUCTS LIMITED
THE DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The directors present their report and accounts for the year ended 31st March 2025.
The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
CONSTITUTION
The charity is constituted as a company limited by guarantee, and is therefore governed by a memorandum and articles of association.
DIRECTORS AND TRUSTEES
The directors of the company are as listed on page 1.
The Board has the power to appoint additional directors, as it considers fit.
ORGANISATION AND OBJECTIVES
Better Health Products Limited is run as a social enterprise and provides training placements to individuals recovering from mental ill health. Businesses operating in the last financial year were light manufacturing and a bicycle workshop (trading as Better Health Bikes).
The charity represents one of the separately registered charities alongside which the Psychiatric Rehabilitation Association works to carry out its objectives.
All trustees give their time voluntarily; no trustee receives any benefits.
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities.
2
BETTER HEALTH PRODUCTS LIMITED
THE DIRECTORS' REPORT (continued)
FOR THE YEAR ENDED 31 MARCH 2025
REVIEW OF DEVELOPMENTS
Better Health Products Limited operates from the London Borough of Hackney.
RESERVES POLICY
The company carries out a variety of long-term projects. The directors have examined the requirement for free reserves which are those unrestricted funds not invested in fixed assets, designated for specific purposes or otherwise committed. The directors consider that the free reserves of £62,759 are adequate to meet the ongoing commitments of the company.
INVESTMENT POLICY
The directors have power under the trust deed to invest in such assets as they see fit.
FINANCIAL POSITION
The Financial Statements and Notes which follow this report 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 UK and Republic of Ireland (FRS 102), and in accordance with the provisions of the Companies Act 2006 applicable to companies subject to the small companies regime.
The Statement of Financial Activities shows net income for the year of £9,513 for the company.
The year-end financial position, reflected by the balance sheet, is considered satisfactory.
It is the policy of the directors to ensure adequate funds are always available to the company to meet its objectives, and also the solvency requirements imposed by the Companies Act.
3
BETTER HEALTH PRODUCTS LIMITED
THE DIRECTORS' REPORT (continued)
FOR THE YEAR ENDED 31 MARCH 2025
STATEMENT OF DIRECTORS’ RESPONSIBILITIES
The trustees (who are also directors of Better Health Products Limited for the purposes of company law) are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for the year. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and apply them consistently;
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observe the methods and principles in the Charities SORP (FRS 102);
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on a going concern basis unless it is inappropriate to assume that the charitable company will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the directors are aware:
-
there is no relevant audit information of which the charitable company's auditors are unaware; and
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• the directors have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.
SMALL COMPANY PROVISIONS
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
AUDITORS
Edmund Carr LLP are deemed to be re-appointed under section 487(2) of the Companies Act 2006.
BY ORDER OF THE BOARD
..........................R B McNEILL Director
............................. 2025
4
BETTER HEALTH PRODUCTS LIMITED
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2025
I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2025 which are set out on pages 6 to 12.
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 charity’s accounts carried out under section 145 of the 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 giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of 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.
................................... Alex Stone FCCA
Edmund Carr LLP 146 New London Road Chelmsford CM2 0AW
....................
5
BETTER HEALTH PRODUCTS LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2025
| Notes Charitable activities Sales Total Income Expenditure on: Charitable activities Grant paid 5 Project running costs 5 Total Expenditure Net movement in funds Total funds brought forward at 1 April 2024 Total funds carried forward at 31 March 2025 |
Total Funds Total Funds 2025 2024 £ £ 208,532 234,746 208,532 234,746 116,000 122,000 90,559 103,233 206,559 225,233 1,973 9,513 60,786 51,273 £62,759 £60,786 |
|---|---|
The statement of financial activities included all gains and losses recognised during the year.
All the activities of the charitable company are from unrestricted continuing operations.
6
BETTER HEALTH PRODUCTS LIMITED
BALANCE SHEET
AS AT 31 MARCH 2025
| Notes FIXED ASSETS Tangible Assets 7 CURRENT ASSETS Stock 8 Debtors 9 Cash at bank and in hand CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 10 NET CURRENT ASSETS CAPITAL AND RESERVES Unrestricted funds: General unrestricted funds TOTAL FUNDS 11 |
£ £ £ £ - 120 59,710 54,519 5,638 13,154 17,481 12,644 82,829 80,317 20,070 19,650 62,759 60,667 £62,759 £60,787 62,759 60,786 £62,759 £60,786 2025 2024 |
£ £ £ £ - 120 59,710 54,519 5,638 13,154 17,481 12,644 82,829 80,317 20,070 19,650 62,759 60,667 £62,759 £60,787 62,759 60,786 £62,759 £60,786 2025 2024 |
|---|---|---|
| £60,787 | ||
| 60,786 | ||
| £60,786 |
For the year ending 31 March 2025 the company is entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the provisions of the Companies Act 2006 applicable to companies subject to the small companies regime.
Approved by the Board on …....................... 2025.
…......................
R B McNEILL
Company Registration Number: 1049465
7
BETTER HEALTH PRODUCTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
1) ACCOUNTING POLICIES
a) Accounting convention
The financial statements have been prepared under the historical cost convention, and 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The directors consider that there are no material uncertainties about the charitable company's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charitable company.
Better Health Products Limited meets the definition of a public benefit entity under FRS 102.
Better Health Products Limited is a private charitable company limited by guarantee incorporated in England and Wales.
b) Stock and work in progress
The basis of valuation, which is consistent with previous years, is the lower of cost and net realisable value.
c) Depreciation
The cost of fixed assets is written off over their estimated useful lives at the following annual rates:
Plant and Machinery 20 % straight line Bakery Alterations 10 % straight line Cycle Workshop Alterations 10 % straight line
d) Debtors
No general provision is made on trade debtors. Known bad debts are written off and specific provision is made for any considered to be doubtful of collection.
e) Cash
Cash and cash equivalents comprise cash on hand, bank accounts and bank deposits.
8
BETTER HEALTH PRODUCTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 MARCH 2025
1) ACCOUNTING POLICIES (continued)
f) Creditors
Creditors are recognised where the charitable company had 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 can be measured reliably. Creditors are normally recognised at their settlement amount.
g) Turnover
Turnover represents the value of goods invoiced during the year, excluding VAT.
h) Grants and Donations
Grants and donations are accounted for on a receipts and payments basis. Where part of a grant is unused, as at the year end, the unused part is carried forward and matched against the relevant future costs.
i) Fund Accounting
Funds held by the charity are either:
Unrestricted general funds - these are funds that can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds - these are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
j) Financial instruments
The charitable company 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.
2) NET MOVEMENT IN FUNDS
The net movement in funds is arrived at after charging/(crediting):
| Depreciation Audit fees Accountancy fees |
2025 £ 120 - 3,030 |
2024 £ 1,360 1,500 4,080 |
|---|---|---|
9
BETTER HEALTH PRODUCTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 MARCH 2025
3) TAXATION
The company is a registered charity and is entitled to those reliefs from taxation which are available to charities.
4) EMPLOYEE INFORMATION
The company had no employee costs during the year (2024: £Nil). All staff members are remunerated by The Centre for Better Health Limited.
None of the trustees or persons connected with them received any remuneration for their services. No trustees were reimbursed for expenses incurred in either the current or prior year.
5) DIRECT CHARITABLE EXPENDITURE
| Project running costs: Cost of sales Delivery expenses Repairs and renewals Market stall expenses Laundry and cleaning Printing, postage and stationery Marketing Insurance Electricity and gas Staff training Depreciation General expenses Bank charges (Profit) / loss on disposal of fixed assets Governance cost (note 6) Grant paid to The Centre for Better Health Ltd 6) GOVERNANCE COSTS Independent examination Audit Accountancy |
2025 £ 64,352 3,482 6,310 - 37 86 - 1,010 7,105 - 120 4,336 151 - 3,570 £90,559 £116,000 2025 £ 540 - 3,030 £3,570 |
2024 £ 69,255 5,620 3,596 - 588 76 323 978 12,407 60 1,360 5,107 1,239 (2,956) 5,580 |
|---|---|---|
| £103,233 | ||
| £122,000 | ||
| 2024 £ - 1,500 4,080 |
||
| £5,580 |
10
BETTER HEALTH PRODUCTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 MARCH 2025
| 7) FIXED ASSETS Bakery Alterations £ Cost 1 April 2024 - Disposals - 31 March 2025 - Depreciation 1 April 2024 - Charge for year - Disposals - 31 March 2025 - Net book values At 31 March 2025 - At 31 March 2024 - 8) STOCK Raw materials and consumables 9) DEBTORS Trade debtors Prepayments 10) CREDITORS Trade creditors Other taxes and social security Other creditors Accruals and deferred income Amounts owed to related undertakings |
Plant and Cycle Workshop Machinery Alterations £ £ 140 2,400 - - 140 2,400 140 2,280 - 120 - - 140 2,400 - - - £120 2025 £ £59,710 2025 £ 4,747 891 £5,638 2025 £ 3,518 7,480 756 2,768 5,548 £20,070 |
Total £ 2,540 - |
|---|---|---|
| 140 140 - - 140 - - |
2,540 | |
| 2,420 120 - |
||
| 2,540 | ||
| - | ||
| £120 | ||
| 2024 £ £54,519 |
||
| 2024 £ 11,970 1,184 |
||
| £13,154 | ||
| 2024 £ 4,817 8,159 756 5,646 272 |
||
| £19,650 |
11
BETTER HEALTH PRODUCTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 MARCH 2025
| 11) TOTAL FUNDS 1 April 2024 Surplus for the year Funds at 31 March 2025 Analysis of net assets between funds: Tangible fixed assets Net current assets |
2025 £ 60,786 1,973 £62,759 General Unrestricted £ - 62,759 £62,759 |
2024 £ 51,273 9,513 |
|---|---|---|
| £60,786 | ||
| Total £ - 62,759 |
||
| £62,759 |
12) RELATED PARTY TRANSACTIONS
There is no ultimate controlling party.
The majority of the directors of the company are also the trustees of the Psychiatric Rehabilitation Association and directors of The Centre for Better Health Limited.
The only transaction was the grant of £116,000 (2024: £122,000) to The Centre for Better Health Limited. At the year end the company owed £5,548 (2024: £272) to The Centre for Better Health Limited, which is shown under creditors.
The company is administered through The Centre for Better Health Limited which provides the necessary staff to carry out the company's activities.
13) CALLED UP SHARE CAPITAL
The company is limited by guarantee and does not have a share capital. The subscribers to the company's Memorandum and Articles of Association have undertaken to pay £1 each in the event of the liquidation of the company.
12