Charity registration number 295976 Company registration number 01806096 (England and Wales) NETWORK OF WELLBEING ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 NETWORK OF WELLBEING CONTENTS Page Trustees. report Independent examinels report Statement of financial activities Balance sheet Notes lo the financial statements 7-21 NETWORK OF WELLBEING LEGAL AND ADMINISTRATIVE INFORMATION The Charity is registered and is a company limited by guarantee governed by its Articles of Association. Directorsl Trustees The subscribersldirectors of the Charitable company (the Charity) are its Trustees for the purposes of charitable law and throughout this report are collectively referred to as the Trustees. The Trustees serving during the year and since the year end were as follows.. Trustees Mr N J Woodward Mrs M C Woodward Ms M Preston Mr D Green Charity number 295976 Company number 01806096 Registered office CIO Eden Rise Sandwell Barns Harberton Totnes Devon TQ9 7LJ Independent examiner Mr J Milden FCCA Darnells Chartered Accountants 30 Fore Street Tolnes Devon TQ9 5RP Bankers Triodos Bank Brunel House 11 The Promenade Bristol BS8 3NN NETWORK OF WELLBEING TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their report and accounts for the year ended 31 March 2024. The accounts have been prepared in accordan￿ with the accounting policies set out in note 1 to the accounts and comply with the Charity's Memorandum & Articles of Association dated 4 April 1984, the Companies Act 2006 and the Slatemenl of Recommended Practice for charities applying FRS102. Objectives and activities The Charity's objects are to advance education. research and practi￿ for the benefit of the publtc in the fields of health, wellbeing and the environment. The Trustees have paid due regard lo guidan￿ issued by the Charity Commission on public benefit in deciding what activities the Charity should undertake. To meel these ends, the Charity carries out awareness-raising activities, principally online and in the UK. It also runs two projects the Share Shed. which helps people to live better by borrowing Ihings Ihey cannot buy or store and Eden Rise. a retreat centre. three miles to the west of Totnes. which is used for a range of wellbeing- related activities. Achievements and perfomiance The Charity continues lo focus ils activities on the wellbeing of people who act to make the world a better place. It has a considerable reach on social media. Twitter followers fell slightly to 18,300 while followers on Facebook stayed level at 6.600. Instagram followers rose to 2,100 and those on Linkedln to 813. Over 5,000 people subscribe to its monthly e-newsletter while 766 are members of its Building Wellbeing Together group on Facebook. The Charity partnered with the Academy of Wide-hearted Living to run its first ever Wellbeing for Changemakers online programme, with funding from the National Lottery Communities Fund received in the previous year. Over 150 people registered to attend a six-session online programme in Autumn 2023- and Feedback suggested Ihal the sessions were well-received. A manual to record the training was distributed to all who registered. Just before the end of the year, it was commissioned to repeal the programme by Communily Action Groups (Devon). The Charity continues to manage the Share Shed. the world's first travelling library of things. The Share Shed provides a weekly service to seven towns across South Devon - Ashburton, Buckfastleigh, Dartington. Ivybridge, Kingsbridge, South Brent and Totnes. The Share Shed has an inventory of over 350 items. m05t of which were donated by the local communiiy. Since it first opened in 2017, over 3,000 people have received over 5,500 loans, saving them an eslimated £415.000. In 2023, the Share Shed worked with over 40 local groups to offer a Share Fest in Totnes a one-day celebration of sharing, repairing and making which attracted over 750 people. 11 also partnered with the Woolly Nanas to offer its first Woolfest in Buckfastleigh. This celebration of all things woollen attracted 250 people. The Charity also runs Eden Rise, a residential retreal centre to the wesl of Totnes. This was booked for 59 separate residential events during the year for a total of 237 days. Activities included respite for young carers and dance. brealhwork, yoga and meditation practices. Shortly before the end of the year, Natalie Ganpatsingh, who had joined as a Trustee eighteen months earlier, had to retire for personal reasons. Financial review There was a deficit of income over expenditure for the year of £80,930 (2023= deficit of £6,800). The size of the deficit was as a result of a doubtful debt expense of £50.000. This is because the Trustees have taken into account the outcome of the Public Inquiry into the proposed development of the former Dairy Crest site and its implications for the £50,000 unsecured loan made by the Ne￿Ork of Wellbeing to the Tolnes Community Development Society (TCDS) in 2014. The Trustees accept that the loan Tnay now be irrecoverable. However, they maintain their support forTCDS's Atmos proposal and hope that. should it go ahead, Ihe loan will be repaid. NETWORK OF WELLBEING TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The loan was made possible by funding from the Brownswood Trust and the Brownswood Trust has assured the Charity that it will not stipulate any further use of the funds until the loan from Totnes Community Development Society has been repaid. The remainder of the deficit was principally because fundraising for the Share Shed was insufficient to make up for its trading losses. The Charity performed well in the light of very difficutt circurnstances. Cuts in staffing made in the previous year enabled the Trustees to agree cuts in the core budget t)r 20234. A deficit budget was again set with the expectation that fundraising would fill the gap. This proved not to be the case. especially in respect of the Share Shed. However. fundraising from small trusts and local councillors and a Crowdfunder campaign shortly after the year end has raised almost £23,000, enabling the Share Shed to rebuild ils reserves. The Charity aims to recoup core costs brought about by its projects and retains sufficient reserves in a designated fund to cover liabilities, should it ever be forced to cease any of its operations. Unrestricted reserves are held pending the identification of suitable projects for funding. Restricted reserves are held for the specified projects. The reserves position is to be reviewed at the end of each year. Structure. govemance and management The Charity is a company limited by guarantee (registered number 01806096) having no share capilal. It is also a registered charity (number 295976). Under the provisions of Section 60 of the Companies Act 2006. the company is entilled to omit the word 'Limiled' from its name. It is governed by its Memorandum and Articles of Association, with its registered office being CIO Eden Rise. Sandwell Barns, Harberton. Totnes. Devon, TQ9 7LJ. Members ofthe Trustee Board are all Directors oflhe company. In the event of the company being wound up the liability of the members is limiled to £1 each. The Trustees who served during the year and since the year end are- Mr N J Woodward Mrs M C Woodward Ms M Preston Ms N Ganpatsingh Mr D Green (Resigned 24 March 2024) Recruitment and appointment of Trustees Trustee5 are appointed by approval al general meetings. Organisational structure The Board of Trustees administers the Charity and meets at least once a year to review grants and fundraising policies. Trustees induction and training New Trustees are explained the nature of their role by the Chairman. This report has been prepared in accordance with the special provision5 relating to small companies within Part 15 oflhe Companies Acl 2006. NETWORK OF WELLBEING TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 On behalf of the Board of Trustees. Mr N J Woodward Trustee Dated.. NETWORK OF WELLBEING INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NETWORK OF WELLBEING I report to the Trustees on my examination of the financial statements of Ne￿ork of Wellbeing (the Charity) for the year ended 31 March 2024. Responsibilities and basis of report As the Trustees of the Charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act). Having satisfied myself thal the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination of the Charily's financial statemenls carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145{5){b) of the 2011 Act. Independent examinerfs statement I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act.. or the financial statements do not accord with those records- or the financial slatements do nol comply with the accounting requirements of section 396 of the 2006 Act olher than any requirement thal the accounts give a true and fair view which is not a matter considered as part of an independent examination- or the financial statements have not been prepared in accordance with the melhods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have come across no other matters in connection wilh the examination to which attenlion should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Jason Milden FCCA Darnells Chartered ArKountants 30 Fore Street Totnes TQ9 5RP Dated: 16112124 NETWORK OF WELLBEING STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITUREACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Notes Income and endowments from: Donations and legacies Charitable activities Investments Other income 73.300 17,058 73,300 86,157 1,216 480 116,873 14,463 116.873 89.959 255 181 69,099 1.216 480 75,496 255 181 Total income 70,795 90,358 161,153 75.932 131,336 207,268 Expenditure on: Charitable activities 74,290 167,793 242.083 72,819 141,249 214,068 Totsl expenditure 74,290 167,793 242.083 72,819 141.249 214,068 Net expenditure and movement in funds (3,495) (77,435) {80,930) 3,113 (9.913} (6,800) Reconciliation of funds: Fund balances at 1 April 2023 57,764 118,379 176.143 54,651 128,292 182,943 Fund balances at 31 March 2024 54,269 40.944 95.213 57,764 118.379 176.143 NETWORK OF WELLBEING BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Notes Fixed assets Tangible assets 12 29,265 28.702 Current assets Debtors Cash at bank and in hand 13 15,523 102,228 54,689 134,824 117,751 189,513 Creditors". amounts falling due within one year 14 (51,803) {42,072) Net current assets 65.948 147,441 Totsl assets less current liabilities 95,213 176,143 Income funds Restricted funds 16 40.944 118.379 Unrestricted funds 54,269 57,764 95.213 176,143 The company is entitied to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024. The Trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and appfication of resources, including ils income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the Trustees on ... Mr N J Woodward Trustee Company registration number 01806096 NETWORK OF WELLBEING NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Company Infomiation Network of Wellbeing is a private company limited by guarantee incorporated in England and Wales. The règistered office is CIO Eden Rise, Sandwell Barns, Harberton. Totnes. Devon, TQ9 7LJ. 1.1 Basis of Preparation These accounts have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" {"FRS 102"), 'Accounting and Reporting by Charities. 1he Statement of Recommended Practice for charities applying FRS 102, the Companies Act 2006 and UK Generally Accepted Accounting Practice as it applies from 1 January 2019. The Charity is a Public Benefit Enlity as defined by FRS 102. The Chartty has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded lo the nearest £. The financial statements have been prepared using Ihe historical cost convention. The prsncipal accounting policies adopted are set oul below. 1.2 Charitable funds Unreslricled funds are available for use at the disGretion of the Trustees in furtherance of their charitable objectives unless the funds have been designated for othei purposes. Designated fijnds comprise funds which have been set aside at the discretion of the Trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the accounts. RestriGted funds are subject to specific conditions by donors as to how they may be used. The purpjses and uses of the restricted funds are sel out in the notes to the accounts. 1.3 Incoming Resources Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Income from donations and grants. including capital grants, is induded in incoming resourGe5 when these are receivable, except as follows.. when donors specify that donations and grants given to the Charity must be used in future accounting periods, the income is deferred until those periods. when donors impose conditions which have to be fulfilled before the Charity becomes entitled to use such income, the income is deferred and not included in incoming resour￿$ until the pre-conditions for use have been mel. Interest receivable Interest receivable is included in investment income when it is receivable by the charitable company. 1.4 Resources expended Liabililies are recognised as resources expended as soon as there is a legal or constructive obligation committing the Charily to the expenditure. All expenditure is accounted for on the accruals basis and includes irrecoverable VAT. Expenditure is allocated to categories either on a direct or a usage basis. Expenditure attributable to meeting the aims and objedives, including the support costs, is included in charitable activities. NETWORK OF WELLBEING NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued) Govemance costs comprise all costs involving the public accountability of the Charity and its compliance with regulation and good practice. These costs include the costs related to the independent examination and legal fees. Overhead costs incurred wholly or mainly in support of generating funds, or in support of expendiiure on the objects of the Charity and being an inlegral part of the costs of carrying out those activities, are separately analysed within Costs of Generating Funds or Charilable Expenditure in the Slalement of Financial Activities as appropriate. 1.5 Tangible fixed assets and depreciation Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Freehold land & buildings Fixtures. fittings and equipment Motor vehicles 10/0 per annum straight line basis 150/0 per annum on a reducing balance basis 250/0 per annum on a reducing balance basis The gain or loss arising on the disposal of an asset is detemiined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 1-6 Impairment of fixed assets At each reporting end date. the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such Ind￿atIOn exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). 1.7 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.8 Flnancial instruments Baslc flnantial assets Basic financial assets, which include trade and other receivables and cash and bank balances. are inilially measured at transaction price including transaction Gosts and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing Iransaction, where the transaction is measured at the present value of the fulure receipts discounted at a market rate of iiterest. Financial assels classified as receivable within one year are not amortised. Derecognition of financial assets Financial asset5 are derecognised only when the contractual rights to the cash flows from the asset expire or are settled. or when the Charily transfers the financial asset and substantially all the risks and rewards of ownership to another entity. NETWORK OF WELLBEING NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued) Basic financial liabilities Basic financial liabilities, including trade and other payables, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymènts discounled at a market rate of interest. Debl instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities classified as payable within one year are not amortised. Trade payables are obligation5 to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If nol. they are presented as non-current liabilities. Trade payables are recognised initially at transaction pri￿ and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the Charity's contractual obligations expire or are discharged or cancelled. 1.9 Retirement benefits The Charity operales a defined contiibutions pension scheme. Contributions are charged in the accounts as they become payable in accordance with the rules of the scheme. 1.10 Debtors and creditors receivable I payable within one year Debtors and creditors with no slated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expendilure. Income from donations and legacies Restricted funds 2024 Restricted funds 2023 Donations and gifts Grants receivable 1,300 72,000 116,873 73,300 116.873 Grants receivable for core activities Brownswood Trust for Wellbeing project Dartington School for Social Enlrepeneurs- Share Shed South Hams District Council- Share Shed National Lottery - Wellbeing project Belvedere Trust- Share Shed Palrick Roland Foundation- Share Shed 70,000 80,000 7,320 19,601 9,952 1.000 1,000 72.000 116,673 (o o) o (n￿0 c £ o) <3 NETWORK OF WELLBEING NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from investments Unrestricted Unrestricted funds funds 2024 2023 Interest receivable 1,216 255 Other income Unrestricted Unrestricted funds funds 2024 2023 Solar panels at Eden Rise 480 181 11 o) In ￿ in in v 17) Ln IN ￿￿(D<￿troop>O￿¢X)O ) ￿ o) ￿ v) In ¢J) OJ f0pm￿cl[l￿o￿ojNo)•)￿IJ>1nln *p￿00¢y)0￿>￿¥P-0O?rDY¢J3 mo o (r) (YJ (Q Ln Cs o) a) o c ¥) o>X - LY) O O (N ir) CD fo ci(r)oc£ CCOLL￿￿￿O￿￿Q)C)tt>￿