Charity reglstratlon number 295976 {England and Wales) Company reglstration number 01806096 NETWORK OF WELLBEING ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
NETWORK OF WELLBEING CONTENTS Pago Trustees, report Independent examinerfs report Statement of financial activities Balance sheet Notes to the financial statement5 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 charilable 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 Mr D Green Mr Z Choudhury (Appointed 19 November 20241 (Appointed 30 September 2025) (Appointed 30 September 2025} (Appointed 30 September 20251 Mrs S Humphrey Mr S Dickinson Ms K Sperring Secretary Mrs S Humphrey 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 AGGountants 30 Fore Street Totnes 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 2025 The Trustees present their report and accounts for the year ended 31 March 2025. The accounts have been prepared in accordance with the accounting policies Set out in note 1 to the accounts and comply with the Charitws Memorandum & Articles of Association dated 4 April 1984, the Companies Act 2006 and the Ststement of Recommended Practice for charities applying FRS102. Objectives and actlvltles The Charity's objects are to advance education, research and practi frjr the benefit of the publ in the fields of health, wellbeing and the environment. The Trustees have paid due regard to guidance issued by the Charity Commission on public benefit in deciding what aclivilies the Charity should undertake. To meet these ends, the Charity carries out awareness-raising activities, principally online and in the UK. It also runs projects - the Share Shed, which helps people to live better by borrowing things they cannot buy or store and Eden Rise, a relreal centre, three miles lo the west of Totnes. which is used for a range of wellbeing- related activities. Achievements and performance The Charity continues to focus its activities on the wellbeing of people who act to make the world a better place. but lack of resources, especially staff time, limited the Charity's performance this year, especially as regards its awarene5s-raising activities. This. and wider issues, had an impact on its reach on social media. Its following on X and Facebook fell to 17,300 and 5,350 respeclively while followers on Inslagram and Linkedln stayèd level at 2,193 and 846. Just under 5,000 people subscribed to its monthly &newsletter but members of its Building Wellbeing Together Facebook group rose to 806. The lack of staff-time also limited the number of events the Charity could host. An online meeting was held in June to explore Natural Happiness the roots of wellbeing with the author and wellbeing practitioner. Alan Heeks. The Charity also partnered with Melissa Noble of the Academy of Wide-hearted Living to host a Wellbeing for Changemakers Creative Retreat at its retreat cenlre, Eden Rise in July 2024. It worked with the Resurgence Trust to sponsor the Trust's online Festival of Wellbeing in October 2024 and to host 8 ffijrther online meeting themed around Hope in Action.. Living in Times of Emergency and Emergence in December 2024, followed by a parallel retreat, in March 2025. Considerable time had to be expended on fundraising to secure the future of its projects. especially the Share Shed, which was in a precarious position at the beginning of the year. A Crowdfunder campaign was launched in late April 2024 which raised £17,117 while a further £12,400 was raised in small grants from local trusts and ¢ouncillors. This enabled the Share Shed to continue its weekly service to seven towns across South Devon - Ashburton, Buckfaslleigh, Dartington. Ivybridge. Kingsbridge, South Brent and Totnes. In 2024 it made 1347 loans and, by the end of the financial year. it had saved local people over £430,000 and prevented 283 lonnes of (2rbon dioxide emissions since it was founded in 2017.
NETWORK OF WELLBEING TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The Charity organises regular events to help promote the Share Shed. Principal amongst these was a Woolfest. in Buckfastleigh, with the Wool Hub CIC. which attracted over 400 people to celebrate shearing, spinning. weaving. carding, dyeing, knitting and felting. It also worked with the Moor Imagination Colledive to set up a Repair Café in Buckfaslleigh. In November 2024, it published Setting up and Sustaining a Library of Things, a 43-page guide to help people in other parts of the UK to set up and run libraries of things. Meanwhile, Eden Rise, the Charity's retreat centre continued to be well used. In addition to the Charity's own events, it hosted 57 residential retreats for over 1,000 people in 2024. Activities included breathwork and other meditation practices,. yoga,. non-violent Communication through dance and personal development. During the summer of 2024, the Charity, with part help from South Hams Dislrict Council, invested over £28,000 to install 40 new solar panels at Eden Rise to help manage rising energy costs. It invested in new water butts to reduce demand on its borehole and installed new re¢ycling systems. including the composting of all food waste. Shortly before its Annual General Meeling, the Chair of Trustees, Michelle Preston, resigned for urgent personal reasons. David Green was elected Chair of Trustees in her place. However. the Trustees decided not to recruit more until the Charity's financial position was more secure. Financial review There was a surplus of income over expenditure for the year of £440 (2024.. deficit of £80,930). The Charity aims to recoup core costs brought about by its projects and retains sufficient reseNes in a designated fund to cover liabilitie5, should it ever be forced to cease any of its operations. Unrestricted reserves are held pending the identification of suitable projects for funding. In April 2025, the National Lottery Community Fund awarded the Charity £215,316 over four years for 'Happier People and Stronger Communities through Share and Repair in South Devon" a project to build stronger communities in South Devon. This will secure the future of the Share Shed for at least four years and enables the Charity to devote more of its core resources to its awareness-raising activities. Restricted reserves are held for the specified projects. The reserves position is to be reviewed at the end of each year. Structure, governance and management The Charity is a company limited by guarantee (registered number 018060961 having no share capital. It is also a registered charity (number 295976). Under the provisions of Section 60 ofthe Companie5Act 2006. the company is entitled to omit the word 'Limited' from its name. It is governed by its Memorandum and Articles of Association. wth its registered office being CIO Eden Rise. Sandwell Barns, Harberton. Totnes. Devon, TQ9 7LJ. Members of the Trustee Board are all Directors of the company. In the event of the company being wound up the liability of the members is limited 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 Mr D Green Mr Z Choudhury Mrs S Humphrey Mr S Dickinson Ms K Sperring (Resigned 30 September 2025) (Resigned 31 October 2024) (Appointed 19 November 2024} (Appointed 30 September 2025) (Appointed 30 September 2025} (Appointed 30 September 20251 ReGruitment and appointment of Trustees Trustees are appointed by approval at general meetings.
NETWORK OF WELLBEING TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Organisational structurè The Board ofTrustees administers the Charity and meets at least once a yearto review grants and fundraising policies. Trustees inductlon and training New Trustees are explained the nature of their role by the Chaiman. This report has been prepared in accordance with the special provisions relating to small companies within Part 15 ofthe Companies Act 2006. On behalf of the Board of Trustees. Mrs S Humphrey Company Secretary Dated.. 031.1.2.120.2.5....
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 Network of Wellbeing (the Charity) for the year ended 31 March 2025. Responslbllities and basls of report As the Trustees of Ihe Charity (and also its directors for the purposes of company law), yOLr are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the Charity's financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145151{bl of the Charities Acl 2011. Independent examiner's 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 Companies Act 2006. the financial statements do not accord with those records.. or the financial statements do not comply with the accounting requirements of section 398 of Ihe Companies Act 2006 other than any requirement that the financial statements 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 methods and principles of the statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statemenls in accordan 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 wth the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. ason Milden FCCA Darnells Chartered Accountants 30 Fore Street Totnes TQ9 5RP Dated.. .Q..*.-..12.-...1o E
NETWORK OF WELLBEING STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Restricted funds funds 2025 2025 Total Unrestricted Restricted funds funds 2024 2024 Total 2025 2024 Notes Income and endowments from: Donations and legacies Charitable activities Investments other income 109,517 16,571 109.517 97,675 1,770 431 73,300 17,058 73,300 86,157 1,216 480 81,104 1,770 431 69.099 1,216 480 Total income 83,305 126,088 209,393 70,795 90.358 161,153 Expenditure on: Charitable activities 82.163 126,790 208.953 74,290 167,793 242,083 Total expenditure 82,163 126,790 208,953 74,290 167,793 242,083 Net incomellexpenditure> 1,142 1702) 440 (3,495) {77,4351 (80,9301 Transfers beeen funds 10,000 110,000) Net movement in funds 11,142 110,702) 440 (3,495) (77,435} {80,930} Reconciliation of funds: Fund balance5 at 1 April 2024 54,269 40,944 95.213 57,764 118,379 176,143 Fund balances at 31 March 2025 65,411 30.242 95,653 54,269 40,944 95.213
NETWORK OF WELLBEING BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Notes Fixed assets Tangible assets 12 54,587 29,265 Current assets Debtors Cash at bank and in hand 13 7,525 86,396 15,523 102,228 93.921 117,751 Creditors: amounts falling due withln one year 14 (52.855} {51.803) Net current assets 41,066 65,948 Total assets less current liabilities 95,653 95,213 Income funds Restricted funds 16 30,242 40,944 Unrestricted funds 65.411 54,269 95.653 95,213 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2025. 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 appbcation of resources, including its 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 financi<al 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 appliGable to companies subject to the small companies regime. Mrs S Humphrey Trustee Company reglstration number 01806096
NETWORK OF WELLBEING NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Company information Neork of Wellbeing is a private company limited by guarantee incorporated in England and Wales. The registered 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 Stsndard applicable in the UK and Republic of Ireland. ("FRS 102"}, "Accounting and Reporting by Charities. the 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 Entity as defined by FRS 102. The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Slatement 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 to the nearest £. The financial statements have been prepared using the historical cost convention. The principal accounting policie5 adopted are set out below. 1.2 Charitsble funds Unrestricted funds are available for use at the discretion of the Trustee5 in furtherance of their charitable objectives unless the funds have been designated for other purposes. Designated funds comprise funds which have been set aside at the discretion of the Trustee5 for specific purposes. The purposes and uses of the designated funds are set out in the notes to the accounts. Restricted funds are subject to specific conditions by donors a5 to how they may be used. The purwses and use5 Of the restricted funds are set out in the notes to the accounts. 1.3 Incomlng Resources Income is recognised when the Charity is legally entitled to it after any performance condttions 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 included in incoming resources when these are receivable, except as follows: when donors specify that donations and grants given lo 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 entiued to use such income, the income is deferred and not included in incoming resources until the pre-conditions for use have been met. Inlere5t receivable Interest receivable is included in investment income when it is receivable by the charitable company. 1.4 Resources expended Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the Charity 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 objectives, including the support costs, is included in charitable activities.
NETWORK OF WELLBEING NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Continued) Governance 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 expendiknre on the objects of the Charity and being an integral part of the costs of carrying out those activities, are separately analysed within Cosls of Generating Funds or Charitable Expenditure in the Statement of Financial Activities as appropriate. 1.5 Tangible fixed assets and depreciatlon 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 Plant- Solar panels Fixtures, fittings and equipment Motor vehicles 1 /0 per annum straight line basis 10°A per annum straight line basis 15 /0 per annum on a reducing balance basi5 25 % per annum on a reducing balance basis The gain or loss arising on the disposal of an asset is determined as the difference beeen 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 indEation exists, the recoverable amount of the assel is estimated in order to delermine the extent of the impairment loss (if any). 1.7 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in cuent liabilities. 1.8 Flnancial instruments Basic financial assets Basic financial assets, which include trade and other receivables and cash and bank balances. are initially measured at Iransaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of tereSt. Financial assets classified as re¢Vable within one year are not amortised. Derecognltlon of financial assets Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled. or when the Charity transfers the financial asset and substantially all the risks and reward5 of ownership to another entity.
NETWORK OF WELLBEING NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies {Continued) Baslc financlal 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 payments discounted at a market rate of interest. Debt 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 obligations 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 not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amorttsed 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 operates a defined contributions pension scheme. Contributions are charged in the accounts as they become payable in accordance wilh the rules of the scheme. 1.10 Debtors and creditors receivable I payable within one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any105ses arising from impairment are recognised in expendilure. Income from donations and legacies Restricted funds 2025 Restricted funds 2024 Donations and gifts Grants 17,117 92.400 1,300 72,000 109,517 73,300 Grants Brownswood Trust for Wellbeing project South Hams District Council (Rural England Prosperity Fund} - Eden Rise Wakefield Trust- Share Shed Frederick Mulder Foundation- Share Shed Devon Community Foundation- Share Shed South Hams District Council- Share Shed Kingsbridge Town Council- Share Shed Belvedere Trust- Share Shed Patrick Roland FoLsndation - Share Shed 70,000 10.000 2,300 2,000 5,000 2,800 300 70.000 1,000 1,000 92,400 72,000
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NETWORK OF WELLBEING NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THEYEAR ENDED 31 MARCH 2025 Income from investments Unrestrlcted Unrestricted funds funds 2025 2024 Interest receivable 1,770 1.216 other income Unrestricted Unrestricted funds funds 2025 2024 Solar panels at Eden Rise 431 480 11
NETWORK OF WELLBEING NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Expenditure on charitable activltles Network of Share Shed Wellbelng 2025 Green Eden Rise Books 2025 Total Total 2025 2025 2025 2024 Direct costs Staff costs Depreciation and impairment Rent Insurance Bad debts Filming, advertising and publicity Telephone, printing, postage and stationery Heat and light Travel, accommodation and subsistence Computer costs Staff training and recruitment Motor running expenses Sundry expenses Conferences and events Repairs Volunteer expenses Consumables and cleaning 73.341 20,381 18,079 111.801 109,413 2,981 480 500 8,415 11,396 480 3,411 7,101 513 3,057 50,000 596 2.315 1,000 1,706 612 3,318 5,968 47 1,564 867 7.617 2,478 7,617 2,071 9,960 843 527 1,045 800 3,244 5.132 1,327 5,378 448 352 352 5,588 1,000 4,216 14,033 9,624 14.212 4,742 7.029 3,358 1,671 7,419 5,905 10,535 5,588 129 1.113 1,483 135 3,103 736 12.550 9,624 14,212 79,944 37,770 78,271 195,985 234,568 Grant funding of activities {see note 7) Share of support and governance costs (see note 8) Support 5,812 54 Governance 1,340 870 1,000 1,000 3,000 2,131 1,761 7,997 3.971 2,147 2,368 87.096 38.694 1,000 82,163 208.953 242,083 Analysis by fund Unrestricted funds Restricted funds 82,163 82,163 126,790 74,290 167.793 87,096 38.694 1.000 87,096 38.694 1,000 82,163 208.953 242.083 12-
NETWORK OF WELLBEING NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Expenditure on charltable activities (Continued) Previous year: Network of Share Shed Wellbelng 2024 Green Eden Rlse Books 2024 Atmos funding 2024 Total 2024 2024 2024 Direct costs Staff costs Depreciation and impairment Rent Insurance Bad debts Filming, advertising and publicity Telephone, printing, postage and stationery Heat and light Travel, accommodation and subsistence Computer costs Staff training and recruitment Motor running expenses Sundry expenses Conferences and events Repairs Volunteer expenses Consumables and cleaning 62,280 20,741 26,392 109.413 3,387 513 500 3.714 7,101 513 3,057 50,000 557 2,000 50,000 2,545 2,221 1,202 5.968 19 1,189 863 9.960 2.071 9.960 1,581 338 709 110 3.088 5.378 448 4,717 25 7,029 157 792 961 4.742 7.029 3,358 1.671 7,419 5.905 10.535 2,121 879 1.080 6,438 5.905 10.535 75.037 38,354 71.177 50.000 234,568 Grant funding of activities (see note 7) 1,000 2,000 3,000 Share of support and governance costs (see note 8) Support 11 49 Governance 1.062 280 2,087 1,026 2,147 2,368 77,110 38,683 2,000 74.290 50.000 242,083 Analysis by fund Unrestricted funds Restricted funds 74.290 74,290 167,793 77,110 38,683 2,000 50,000 77,110 38.683 2,000 74,290 50,000 242.083 13-
NETWORK OF WELLBEING NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Grants payable Green Books 2025 Network of Wellbeing 2024 Green Books 2024 Total 2024 Grants to institutions.. Resurgence Trust Totnes Community Development Society 1,000 2,000 2,000 1,000 1,000 1,000 1,000 2,000 3,000 Support costs allocated to activities Total 2025 Total 2024 Eden Rise- Bank charges Eden Rise - Administrative costs Share Shed- Bank charges Network of Wellbeing- Bank charges Network of Wellbeing - Fundraising costs Governance 58 2,073 54 12 5,800 3,971 54 2.033 49 11 2.368 11,968 4,515 202S 2024 Governance costs comprise: Independent Examiners fees - external scrutiny Independent Examiners fees - other services 2,112 1,859 2,040 328 3.971 2,368 Trustees None of the Trustees (or any persons connected with them} received any remuneration during the year12024'. £nil), and the Trustees were not reimbursed travelling expense5 durtng the year (2024.. one Trustee was reimbursed travelling expenses of £94). 10 Employees 2025 Number 2024 Number 14-
NETWORK OF WELLBEING NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 10 Employees (Continued) Employment costs 2025 2024 Wages and salaries Social security costs other pension costs 105,564 3.949 2,288 103,635 3,572 2,206 111,801 109,413 All staff were employed on a part-time basis. There were no employees whose annual remuneration was more than £60.000. 11 Taxation The charity is exempl from tax on income and gain5 falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to ils charitable objects. 15-
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NETWORK OF WELLBEING NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 12 Tangible fixed assets (Continued) Freehold land and buildings at Eden Rise, Sandwell, Totnes have a disdosed nominal value of £1 due to a covenant that if they were disposed they must be gifted to another charity. If the covenant was not in pla. the property was valued at an open market value of £600,000 on 23 August 2019 by CSS Complete Surveying Services. 13 Debtors 2025 2024 Amounts falling due within one year: Trade debtors Prepayments and accrued income 1,952 5,573 15,523 7,525 15,523 Debtors include a loan of £50,000 for which a bad debt provision is in place to Totnes Community Development Society and is consequently disclosed a £nil value. The loan is interest free, unsecured and wth no fixed terms of repayment. Repayment is to take place on the CommenMent of the development to be undertaken. A doubtful debt provision is in place as the Trustees have taken into account the outcome of the Public Inquiry into the proposed development of the former Dairy Crest site and ils implications for the £50.000 unsecured loan made by the Neork of Wellbeing to the Tolnes Community Developmenl Society (TCDS} in 2014. The Trustees accept that the loan may now be irrecoverable. However. they maintain their support for TCDS'S Atmos proposal and hope that, should it go ahead. the loan will be repaid. 14 Creditors: amounts falling due wlthln one year 2025 2024 Trade creditors Other creditors Accruals and deferred income 2,138 877 49,840 935 2,349 48,519 52.855 51,803 Accruals and deferred income includes deferred rental income of £41,021 (2024- £40,804) and deferred course income of £nil {2024.' £1,500) with an decrease in the year of £1,283. 15 Retirement benefit schemes 2025 2024 Defined contribution schemes Charge to profil or loss in respect of defined contribution schemes 2,288 2,206 The Charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Charity in an independently administered fund. 17-
NETWORK OF WELLBEING NOTES TO THE FINANCIAL STATEMENTS {CONTINUED> FOR THE YEAR ENDED 31 MARCH 2025 16 Restricted funds The income funds of the Charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes.. At 1 April 2024 Incomlng resources Rèsources expended Transfers At 31 March 2025 Wellbeing Project Green Books Ltd funders Share Shed Eden Rise- Solar panels 27,071 3.200 10,673 70,000 (87,096) {1,0001 (38,694) 9,975 2,200 18,067 46,088 10,000 (10,000) 40,944 126,088 (126.790) (10,000) 30,242 Previous year. At 1 April 2023 Incoming resources Resources expended Transfers At 31 March 2024 Wellbeing Project ATMOS funding Green Books Ltd funders Share Shed 32,681 50.000 5,200 30.498 71,500 (77,110) (50.000} {2.0001 (38.6831 27,071 3,200 10,673 18.858 118,379 90,358 (167.793) 40,944 The restricted income funds of the Charity arising Ihrough its activities are as follows: Wellbeing Project To research and educate with the aim of improving the wellbeing of individuals. communities and the environment. ATMOS funding - To fund the development of the former Dairy Crest site in Totnes by Totnes Community Development Society. Green Books Ltd funders - To fund environmental research and education. Share Shed and Mobile Share Shed- Funding reIVed to create a Share Shed, or Library of Things, whereby members of the community can borrow, for a fee, tools and other equipment they might otherwise have to buy. Funding indudes amounts received to create a travelling library of things that are stored in the Sharemobile, which is a converted van. The cost of the Sharemobile has been capitalised and is included within fixed assets. This cost is being charged in the Statement of Financial Activities over the useful economiG life of the Sharemobile and expensed as depreciation. Eden Rise solar panels- For the purchase of energy saving solar panels. Sufficient resources are held in an appropriate format to enable each fund to be applied in accordance with any restrictions. A transfer of £10.000 from restricted funds to unrestricted funds arose in the year following the purchase of assets financed by a grant, as the obligation under the grant had been settled and the assets were available for the general purposes of the charity. 18-
NETWORK OF WELLBEING NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 17 Analysis of nèt assets between funds Unrestricted funds 2025 Restricted funds 2025 Total 2025 At 31 March 2025: Tangible assels Current assetsl(liabilities) 52,772 12,639 1.815 28,427 54,587 41,066 65,411 30.242 95,653 Unrestricted tunds 2024 Restricted funds 2024 Total 2024 At 31 March 2024: Tangible assets Current assetsllliabilities} 18,100 36,169 11,165 29,779 29,265 65,948 54,269 40.944 95,213 19-
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NETWORK OF WELLBEING NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 19 Related party transactions Grants of £70,000 (2024.. £70,000) were received in the year from the Brownswood Trust of which Mr Nigel Woodward and Mrs Margaret Woodward are also Trustees. A donation of £1,000 was also received in the previous year from Mr Woodward. 21