Wellbeing Economy Alliance Scotland (SCIO) Report and financial statements Year ended 31 March 2025 Charity no: SC049174 Wellbeing Economy Alliance Scotland Financial statements for the year ended 31 March 2025 ## Contents |Report of the trustees|Report of the trustees|Report of the trustees|3 - 12| |---|---|---|---| |||report|13| |Statement of financial activities|||14| |Balance sheet|||15| |Notes to the financial statements|||16-22| 2 Wellbeing Economy Alliance Scotland Financial statements for the year ended 31 March 2025 The Trustees have pleasure in presenting their report together with the financial statements for the year ended 31 March 2025. ## **OBJECTIVES** The Wellbeing Economy Alliance Scotland (WEAll Scotland) is a charity dedicated to promoting and advancing the transition to a Wellbeing Economy in Scotland. Our vision is of an economy designed to deliver good lives for all people within planetary boundaries. The organisation's purposes, for the public benefit, are: 1. To advance education, particularly to increase knowledge and understanding of the impacts which differing economic systems may have on the wellbeing of people and the environment. 2. To promote and support progress towards a Wellbeing Economy as a means to advance health, citizenship and community development, environmental protection, and relieve those in need due to financial hardship or other disadvantage. A "Wellbeing Economy" is defined as an economy where success is measured by the wellbeing of people, societies, and nature. It is built on the principles of Dignity, Nature, Purpose, Fairness, and Participation. WEAll Scotland's work aligns with that of WEAll Global, with a primary focus on Scotland. Our key aims are to: 1. Build an influential, diverse movement to co-create narratives and policies for a Wellbeing Economy, empowering underrepresented voices. 2. Change the narrative in media and public discourse to create widespread belief in and support for an economy designed to deliver wellbeing for people and nature. 3. Develop a shared vision and policy framework demonstrating concrete and practical ways to build a Wellbeing Economy in Scotland, affecting policy change and providing a shared framework for coordinating implementation at national and local levels. ## **ACTIVITIES, ACHIEVEMENTS AND PERFORMANCE** We are at a critical moment for Wellbeing Economy agenda with elections to the Scottish Parliament taking place next year in May 2026. The Scottish elections present WEAll Scotland with a significant campaigning opportunity to ensure the Wellbeing Economy is high on the political agenda in those elections, in all party manifestos as well as those of third sector organisations. We aim to ensure the Wellbeing Economy is cemented as the defining vision for Scotland. Ahead of the 2026 elections there are many opportunities for WEAll Scotland to leverage legislation going through the Scottish Parliament and accelerate our impact. These include community wealth building, land reform, natural environment, just transition and climate action, addressing child poverty and also other work the Scottish Government has been leading on aimed at scaling up and increasing the number of inclusive and democratic business models (social enterprises, employee-owned businesses and cooperatives) in Scotland. 3 Wellbeing Economy Alliance Scotland Financial statements for the year ended 31 March 2025 ## **ACTIVITIES, ACHIEVEMENTS AND PERFORMANCE (continued)** Over this crucial year ahead WEAll Scotland will be working to grow and mobilise the chorus of voices demanding a Wellbeing Economy by building and deepening the capacity of civil society and sympathetic policy makers to articulate how a Wellbeing Economy can address specific social and environmental issues (eradicating poverty, reducing inequality, tackling climate change). Delivering the Wellbeing Economy agenda has been a political commitment of the Scottish Government for a number of years. While some progress has been made there are concerns that the Government is retreating and falling back on an outdated economic model that cannot deliver the transformative change that people and communities across Scotland urgently need. The crises and day to day difficulties that our societies face are being compounded by the combination of short-termism and populism. The very things that we need, more immigration, shorter working week and genuine green and just transition are being portrayed as the problem. Despite the urgency and in the face of increasing financial fiscal constraints, we are seeing a doubling down of the relentless focus on GDP growth at all costs, short term profit maximisation over long-term societal wellbeing, and where the power and control of the economy increasingly now lies in the hands of the wealthiest few. Rather than improving our lives this logic is tearing societies and our planet apart and taking us down a very dangerous road. However, we are seeing growing interest, momentum, and support internationally. The Wellbeing Economy agenda is being taken up now by international agencies like the UN, the WHO, the OECD and the European Commission. And the WEAll global movement is growing. Scotland is one of 19 hubs across the world with more in development. The challenge for us is how to sustain political effort in these difficult and challenging times. We can take people with us by helping them to see and understand the connection between the economy and their everyday lives and we must also give politicians and policymakers policy solutions that are relevant, practicable, doable and deliverable. In 2024/25, WEAll Scotland made significant progress in advancing our vision of a Wellbeing Economy. Key activities and achievements include: ## **1. Movement building and collaboration** - Grew our membership to 130 organisations and 11 individual members, fostering a diverse network of allies working towards a Wellbeing Economy. - Hosted regular Wellbeing Economy 101 webinars to educate and engage new supporters. - Collaborated with key partners including Carnegie UK, Oxfam Scotland, Scottish International Development Alliance, Community Land Scotland, Poverty Alliance, Stop Climate Chaos and Future Economy Scotland on various campaigns and initiatives including continuing to advocate for a Wellbeing and Sustainable Development Bill, stronger land reform, minimum income guarantee, and fair tax reforms in Scotland through the Tax Justice Scotland campaign. The latter is also connected into wider UK and global tax justice campaigns. - Brought Purpose A Wellbeing Economies film documentary to Scotland directed and produced by Martin Oetting. It is focused on economic system change and tells the story of the founding of the Wellbeing Economy Alliance movement (how it came about and why) and the Wellbeing Economy Governments with a lot of the filming in Scotland and Italy. 4 Wellbeing Economy Alliance Scotland Financial statements for the year ended 31 March 2025 ## **ACTIVITIES, ACHIEVEMENTS AND PERFORMANCE (continued)** - Organised film screenings in Aberdeen, Edinburgh, Glasgow and Dundee that were supported by a panel discussion with the audience afterwards. Panel speakers included WEAll Scotland, the -founders of the WEAll global - Planning is underway for a screening of the film in the Scottish Parliament hosted by the Cross Party Group on the Wellbeing Economy. - Active participation in the Poverty Alliance Minimum Income Guarantee working group. - - Hosted two online roundtable discussions with funders across Scotland. Participants also included Clackmannanshire local council. The discussion focused on how we can grow the momentum for a Wellbeing Economy in Scotland with key questions on what needs to happen in the next three years to turn the growing support for a Wellbeing Economy into transformative action? What is the role of WEAll Scotland in supporting these actions? How can funders support WEAll Scotland and the wider movement to be successful? ## **2. Policy influence, advocacy and campaigns** - Actively participated in the Scottish Government's Wellbeing Economy Expert Advisory Group (WEEAG), providing input on key economic policies. This is chaired by the Deputy First Minister and Cabinet Secretary for the Economy and Gaelic, Kate Forbes MSP, and the Scottish - Arranged a facilitated session of the - of work and commitments for 2024/25 the Group thought should be priorities for WEEAG to provide advice to Government Ministers on delivery. - Actively participated on a subgroup focused on the topic of co-investment looking at the current model and the future direction of public/private co-operation and tasked with developing more detailed policy advice and recommendations for the Deputy First Minister. - - Group on the review of the National Outcomes. - - Following the conclusion of the review of the national outcomes, WEAll Scotland is contributing - he NPF. - risks and opportunities facing Scotland in the next 10-20 years across 6 thematic areas: politics and governance; economy, society and communities; technology; natural resources; energy and climate; health. - Direct meeting with the then Cabinet Secretary for Wellbeing Economy, Net Zero and Energy, Mairi McAllan MSP. - Direct meeting with the Deputy First Minister and Cabinet Secretary for the Economy and Gaelic, Kate Forbes MSP - - Deputy First Minister, Kate Forbes MSP signed by over 130 social and environmental justice NGOs, grassroots community groups, faith groups, service providers, funders, economists, academics, think tanks and business leaders. The letter expressed our disappointment and concern that the Scottish Government failed to deliver on their long-promised Wellbeing and Sustainable Development Bill in the Programme for Government. It also called on the First Minister and Deputy First Minister to support a Members Bill on Wellbeing and Sustainable Development that was introduced into the Scottish Parliament by Sarah Boyack MSP. 5 Wellbeing Economy Alliance Scotland Financial statements for the year ended 31 March 2025 ## **ACTIVITIES, ACHIEVEMENTS AND PERFORMANCE (continued)** - - strategy. - Bill in line with Wellbeing Economy principles by working with key members in relation to the Bill scrutiny by the Scottish Parliament and the lead parliamentary committee, the Net Zero, Energy and Transport Committee. - - inquiry on the proposed revisions of the National Outcomes. - - on the proposed revisions of the National Outcomes. - - Actively engaged with key members in supporting the work of Sarah Boyack MSP in developing a Members Bill on Wellbeing and Sustainable Development. - Actively collaborated with key members on a joint campaign for fair tax reforms in Scotland that was launched by a joint letter leaders to work together to use the powers Scotland has to build a fairer and more effective tax system in Scotland. - Continued to facilitate the Cross Party Group on Wellbeing Economy in the Scottish Parliament, growing its membership and hosting discussions on key topics such as future generations, wellbeing and sustainable development, building a democratic wellbeing economy in Scotland, and creating community wealth through the energy revolution. - Actively participated in other Cross Party Group meetings such as the Cross Party Group on Social Enterprise and its topic on growing inclusive, democratic businesses and community wealth. This was an opportunity for WEAll Scotland to explain what a Wellbeing Economy is and why inclusive and democratic business models are important for that. - - Organised briefings and engagement activities with Members of the Scottish Parliament (MSPs) to build support for Wellbeing Economy principles. - Organised meetings of the Scottish Policymakers Network on topics such as the work Cornwall Council has done in developing and using their Development and Decision Wheel, which involved a presentation and discussion with Cornwall Council. The Wheel is an innovative tool that uses the Doughnut Economics framework to help decision-makers in Cornwall think through the social, environmental and equality impacts of their new projects and policies before decisions are taken . - Actively arranged a joint meeting of the Scottish Policymakers network with the global policymakers network on the Wellbeing Economy where the global WEAll Amp team introduced their new online Wellbeing Economy Policy Design course that was launched at the OECD World Wellbeing Forum in Rome. - Facilitated and co-curated two policy sessions on the role of culture and the creative sector in a Wellbeing Economy at the Nordic Music Days, which came to Scotland (Glasgow) for the first time. This involved participants at the Nordic Music Days not only from Scotland but also a number of different countries such as Ireland, Estonia, Norway, Finland, the Faroes, Denmark, Sweden. one of the policy sessions. 6 Wellbeing Economy Alliance Scotland Financial statetnents for the year ended 31 March 2025 Trustees, Annual Report ACTivrrtES, ACHIEVEMEIffi AIW PERFORMANCE (continued) 3. Projects and research Conductcd wojccts den￿Ostrating Wcllbcing Ecououw wincipks iu aclion. Thcsc have focuscd on foi Bwmjiw a partiapatory wellbeing vjsion - IA)ve I£tham ts 2n intiovztive childrth's partiapation ptoj¢ct b2scd in the commuuity of Lcthao4 in Perth and Kint055. Thi5 entsilcd woiking WAth thc cornll￿ty and thc Counca to hdp thun dcydop and ddivci a wellbcing vi5ioll foi childtca and young pcoplc and to put chiklrcu'5 wellbeing at thc hcart of decision ulaknng and budget.s¢tting. Thc piojcrt cudcd Ao Dcccmbu 2024 i¢port fi)i th¢ fi￿(k[S is being Well￿illg Ecouomy app102ch to tranS￿rt buil(ling oa thc of thc picvious piojcrt that focused oll devdOP￿ Wellb￿￿ Economy apwoaches to tran5fomi eMpl￿ability. Ikvejoping a framework for a IYellbein¥ budget - coU2borated with Perth aud Kinross Council to trial wellbeing budget1￿ processe5 by the deErdwt of 2 shadow budget Developing and testing Citizen EcononJK Panels on housxng- und¢rtwk pwatory ￿￿k a new woject that involve convwln"￿￿O￿ and on]ine cit1ze￿ economic wds dewed to c(Fcrvate narratives and eErydence foi econollllc cbange that reson2te the dxy-tsFdaF expetience of people's lives. The wds will focus on the hjgb ptiority tssue of Scotknjd's housing isis. Through the wojert WEAll Scotland is p]anoing ts) together WAth ]ived iellce of ￿verty xs well 85 wIoFees of third Sert￿ owations and ho￿ eeded to tsckle IL Find￿ from the CitiLens' Economic Pands will be used to org2Dise knowledge sharing dl 25 AtLlocal authorities. Ihe p1all￿ to itLauellce llwiifesto WO￿ 3head of the Scottish Padiamellt elecfions in NIay 2026 a5 Avell a5 the fll5t PiOgra[￿ for Govetnment atLd budget of the Scottish GOVemn￿t post the electio Actively p2rtiopated in the IK'ellbeing Economy Strategy Group hosted by Glxsgow Universiws pioduced a c(Fauthored papet tstw 'Evidence Ieltrw to support the development o£2 Wellbeing EcolloEtLy Sts2Win ScotiaD(L This was published by the Post-gtoAvth Economics NetKvork (PEN) asawo tLing paper. Othet adv(w is Iw pla[ll￿1 by the &oup itduiting op-eds. blog posts. webitiats. etc. Wellbeing Economy Alliance Scotland Financial statements for the year ended 31 March 2025 ## **ACTIVITIES, ACHIEVEMENTS AND PERFORMANCE (continued)** - Actively participated in the Wellbeing and Sustainable Development working group that brings together key members and other organisations representing health, social care, environment, climate and nature sectors to coordinate campaigning work on the Wellbeing and Sustainable Development Bill (Sarah Boyack MSP Members Bill). With key members of the group WEAll Scotland commissioned group an academic research report on options for designing a stronger accountability system for wellbeing and sustainable development and future generations thinking. The options paper has been published and was submitted to the Scottish Government and Parliament. ## **4. Changing the narrative** - Continued to increase our social media presence, growing to over 5,000 followers across Instagram, platform. Our followers on bluesky are growing gradually as more time is invested in this platform. - Continued to progress work on branding and communications strategy. - Continued to promote guest blogs from members and published regular blog posts, opinion pieces, and guidance documents on Wellbeing Economy topics. - Actively participated in a New Economies Narrative Lab organised by the Partners for a New Economy in collaboration with Culture Hacks Lab. This shared tools and methodology for narrative-led systems change and focused on narratives evolution and system collapse, mapping communities in the narrative space, reframing, etc. - Actively participated in an on-going Save the Children project on changing public narratives on what people think about child poverty in Scotland. It is developing evidence-based framing guidance on how to communicate effectively about child poverty. ## **5. International collaboration** - Continued to represent Scotland in the global Wellbeing Economy movement, collaborating with WEAll global and other international partners. This also entailed representing Scotland at the Wellbeing Economy Forum in Reykjavik hosted by the Icelandic Government and the international Wellbeing Economy Governments partnership. The Forum meets annually following its launch in June 2023. It is an important platform as it is the only international forum in the world that focuses explicitly on the Wellbeing Economy. - -hosted by the Government - and Parliament of Iceland. This was an opportunity to bring the Wellbeing Economy concept and agenda together with our work in Scotland for the first time into a global forum that brings together women leaders from business, politics, government, the arts, media, academia, and science, etc. - Collaborated with the WEAll global movement in a submission to a call by the UN Special Rapporteur on extreme poverty and human rights, Olivier De Schutter, who is tasked with developing a roadmap for eradicating poverty beyond growth. 8 Wellbeing Economy Alliance Scotland Financial statements for the year ended 31 March 2025 ## **FINANCIAL REVIEW** Total income for the year ended 31 March 2025 was £178,950 (2024: £301,285). £178,950 (2024: £201,285) receivable during the year was unrestricted and £nil (2024: £100,000) was restricted. Total expenditure for the year was £276,025 (2024: £276,189). There was a deficit for the year of £(97,075) (2024: surplus of £25,096). The reserves held at the year end amounted to £133,043 (2024: £230,118). ## **Funding** Our main funders in 2024-25 were Friends Provident, Cattanach, Mustardseed Trust and Foundation Scotland. We continuously scan for funding opportunities particularly to support our core activities. In this respect we regularly engage with, and make applications to, potential funders. ## **Investment Policy** A balance is held in a bank current account to meet the liquidity requirements of running the charity. There are no other investments held by the charity. ## **Reserves Policy** Reserves are held to meet operational costs and act as a buffer against any unforeseen circumstances. The 3,000. The level of unrestricted reserves as at 31 March 2025 is £128,043 (2024: £160,624). The Trustees regularly review the reserves policy to ensure it adequately supports the organisation's financial sustainability and ability to respond to opportunities and challenges. Some of our reserves have been built up historically and were utilised to support core activities during 2024/25. Our reserves at the 31st March were in excess of the 3 month operating costs target. The funding environment remains challenging, as such it may be the case that further use of reserves will be required during 2025/26 (whilst maintaining our 3 month 'buffer'). This will be kept under review alongside continuing work to deliver our funding strategy. 9 Wellbeing Economy Alliance Scotland Financial statements for the year ended 31 March 2025 ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** WEAll Scotland is a Scottish Charitable Incorporated Organisation (SCIO) formed by constitution on 28 March 2019. The charity is governed by a board of Trustees, with a maximum of 10 and a minimum of 7 members. Trustees are appointed by the existing board members and are also the members of the charity. ## **Risk management** The Trustees have assessed the major risks to which the charity is exposed and have systems in place to mitigate exposure to these risks. A comprehensive risk register is maintained and regularly reviewed by the board. ## **Future plans** The year has been successful in terms of securing funding for future years. Friends Provident Foundation and Foundation Scotland have renewed their support for us for a further 2 and 3 years respectively and we have secured project funding from Robertson Trust and Perth and Kinross and Clackmannanshire Councils. This funding ensures our operations for 2025/26. Looking further ahead the funding landscape remains challenging. We will continue to look for new funding opportunities that support our strategy and theory of change either directly or in collaboration with others. The coming year will see a strategy refresh which help us focus on key areas of work and target new funding opportunities. 10 Wellbeing Economy Alliance Scotland Financial statements for the year ended 31 March 2025 ## **REFERENCE AND ADMINISTRATIVE INFORMATION** Charity Name: Wellbeing Economy Alliance Scotland (Scottish Charitable Incorporated Organisation) Charity Registration Number: SC049174 Company Registration Number: CS003923 (SCIO) Glasgow Collective 15 East Campbell Street Glasgow G1 5DT ## **Trustees** The Trustees of the charity are members of the organisation for the purposes of the Charities and Trustee Investment (Scotland) Act 2005. **Key Management Personnel Independent Examiner** Chartered Accountant Stripe Accountants Ltd 5 South Charlotte Street Edinburgh EH2 4AN **Bankers** Unity Trust Bank 4 Brindley Place Birmingham B1 2JB 11 Wellbeing Economy Alliance Scotland Financial statements for the year ended 31 March 2025 ## **T** accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in Scotland requires the charity trustees to prepare financial statements for each year which show a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year. In preparing the financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently; - observe the methods and principles in the applicable Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements; and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operational existence. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). 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. Approved by the board on 2025 and signed on its behalf by: 12 ## **I REPORT ON THE UNAUDITED ACCOUNTS OF WELLBEING ECONOMY ALLIANCE SCOTLAND** I report on the accounts of the charity for the year ended 31 March 2025 which are set out on pages 14 to 22. ## **Respective responsibilities of trustees and examiner** Th are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity trustees consider that the audit requirement of Regulation 10(1) (a) to (c) of the 2006 Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1) (c) of the Act and to state whether particular matters have come to my attention. My examination is carried out in accordance with Regulation 11 of the 2006 Accounts Regulations. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeks explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. In the course of my examination, no matter has come to my attention other than that disclosed below 1. which gives me reasonable cause to believe that in any material respect the requirements: - Regulation 4 of the 2006 Accounts Regulations Regulation 8 of the 2006 Accounts Regulations have not been met, or 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Chartered Accountant Stripe Accountants Ltd Edinburgh 2025 1 December 13 ## Wellbeing Economy Alliance Scotland Financial statements for the year ended 31 March 2025 ## Statement of financial activities |||**Unrestricted**|**Restricted**|**2025**|2024| |---|---|---|---|---|---| |||**funds**|**funds**||| |||**£**|**£**|**£**|£| |**Income from:**|||||| |Donations and legacies|2|**153,000**|**-**|**153,000**|240,000| |Charitable activities|3|**25,950**|**-**|**25,950**|61,285| |||**--------------------------------------------**|**-------------------------------------------------**|------------------------------------------------|------------------------------------------------| |**Total Income**||**178,950**|**-**|**178,950**|301,285| |||**-----------------------------------------------**|**-------------------------------------------------**|------------------------------------------------|------------------------------------------------| |**Expenditure on:**|||||| |Charitable activities|4|**(211,531)**|**(64,494)**|**(276,025)**|(276,189)| |||**------------------------------------------**|**-------------------------------------------------**|**------------------------------------------------**|--------------------------------------------| |**Total Expenditure**||**(211,531)**|**(64,494)**|**(276,025)**|(276,189)| |||**------------------------------------------**|**-------------------------------------------------**|**------------------------------------------------**|**--------------------------------------------**| |**Net (expenditure) / income**||**(32,581)**|**(64,494)**|**(97,075)**|25,096| |**Transfers between funds**|10|**-**|**-**|**-**|-| |||**------------------------------------------**|**-------------------------------------------------**|**------------------------------------------------**|-------------------------------------------| |**Net movement in funds**||**(32,581)**|**(64,494)**|**(97,075)**|25,096| |||**-----------------------------------------------**|**----------------------------------------------**|---------------------------------------------------|-------------------------------------------| |**Reconciliations of funds:**|||||| |**Total funds brought forward**||**160,624**|**69,494**|**230,118**|205,022| |||**------------------------------------------**|**------------------------------------------**|**-------------------------------------------------**|-------------------------------------------| |**Total funds carried forward**|10,11|**128,043**|**5,000**|**133,043**|230,118| |||**=============================================**|**=============================================**|=============================================-|============================================| The accompanying accounting policies and notes form part of these financial statements. The statement of financial activities includes all gains and losses recognised in the period. All income and expenditure derives from continuing activities. 14 Wellbeing Economy Alliance Scotland Financial statements for the year ended 31 March 2025 ## Balance Sheet |||**2025**|2024| |---|---|---|---| ||**Note**|**£**|£| |**Current assets**|||| |Debtors|8|**42,645**|103,640| |Cash at bank and in hand||**104,300**|138,996| |||**-----------------------------------------------------**|-----------------------------------------------------| |||**146,945**|242,636| |**Creditors: amounts falling due within one year**|9|**(13,902)**|(12,518)| |||**-------------------------------------------------------**|-------------------------------------------------------| |**TOTAL NET ASSETS**||**133,043**|230,118| |||**======================================================**|**======================================================**| |**Funds**|||| |Unrestricted funds: General|10|**128,043**|160,624| |Restricted funds|10|**5,000**|69,494| |||**------------------------------------------------------**|------------------------------------------------------| |**Total charity funds**||**133,043**|230,118| |||**======================================================**|======================================================| Approved by the Board of Trustees on 2025 and signed on their behalf by: Wellbeing Economy Alliance Scotland SC049174 The accompanying accounting policies and notes form part of these financial statements. 15 Wellbeing Economy Alliance Scotland Financial statements for the year ended 31 March 2025 ## Notes to the financial statements ## **1 Accounting policies** ## **Basis of preparation** The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended), and follow the recommendations in the 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 in October 2019) Charities SORP (FRS 102). Wellbeing Economy Alliance Scotland is a Scottish Charitable Incorporated Organisation (SCIO). It is registered with the Office of the Scottish Regulator (OSCR) under charity number SC049174. The address of the registered office is given on page 11. The charity constitutes a public benefit entity as defined by FRS 102. The presentation currency is Pound Sterling (£). going concern. ## **Income** Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably. Income from government grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Income is deferred only when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period. ## **Expenditure** All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to pay for expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All costs have been directly attributed to one of the functional categories of resources expended on the SOFA. The Charity is not registered for VAT and accordingly expenditure is shown gross of irrecoverable VAT. Charitable expenditure comprises those costs incurred by the charity in delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. 16 Wellbeing Economy Alliance Scotland Financial statements for the year ended 31 March 2025 **1 Accounting policies (continued)** ## Notes to the financial statements ## **Debtors** Trade and other debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid net of any discounts due. ## **Creditors** Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any discounts due. ## **Fund accounting** Unrestricted funds are donations and other incoming resources received or generated for the objects of the charity without further specified purpose and are available as general funds. Unrestricted funds can be used in accordance with the charitable objects at the discretion of the trustees. If parts of the unrestricted funds are earmarked at the discretion of the trustees for a particular purpose they are designated as a separate fund. Such designation has an administrative purpose only and does not legally Restricted funds are funds subject to requirements as to their use, but still within the wider objects of the authority, or be created through legal processes. ## **Financial instruments** Financial instruments comprise financial assets and financial liabilities which are recognised when the charity becomes a party to the contractual provisions of the instrument. Financial instruments are classified as "basic" in accordance with FRS102 and are accounted for at amortised cost using the effective interest method. The effective interest rate is the rate that exactly discounts estimated future cash flows over the life of the financial assets or liability to the net carrying amount on initial recognition. Discounting is not applied to short-term receivables and payables, where the effect is immaterial. Financial assets comprise cash, trade debtors, other debtors and accrued income. Financial liabilities comprise bank overdraft, trade creditors, other creditors and accruals. ## **Cash and cash equivalents** Cash and cash equivalents are basic financial assets and include cash in hand and deposits held with banks. ## **Pensions** The pension costs charged in the financial statements represent the contribution payable by the charity during the year. 17 Wellbeing Economy Alliance Scotland Financial statements for the year ended 31 March 2025 ## Notes to the financial statements ## **1 Accounting policies (continued)** ## **Judgements and key sources of estimation uncertainty** The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. ## **2 Donations and legacies** **----- Start of picture text -----**
||||||| |---|---|---|---|---|---| |Unrestricted| |funds|Restricted| |General funds|funds|2025|2024| |£|£|£|£| |Grant from Friends Provident 2023-2025|53,000|-|53,000|50,000| |Grant from Friends Provident 2025-2027|33,000|-|33,000|-| |Grant from Foundation Scotland|30,000|-|30,000|40,000| |Grant from Corra Foundation|-|-|-|50,000| |Grant from Mustardseed Trust|37,000|-|37,000|-| |Grant from Cattanach|Phase 2|-|-|-|100,000| |--------------------------------------------------------|-------------------------------------------------------|------------------------------------------------------|------------------------------------------------------| |-| |153,000|153,000|240,000| |====================================================|==== = ================================================|==== = ================================================|==== = ================================================| **----- End of picture text -----**
Income from donations was £153,000 (2024: £240,000) of which £153,000 (2024: £140,000) was unrestricted general and £nil (2024: £100,000) was restricted. ## **3 Income from charitable activities** **----- Start of picture text -----**
||||||| |---|---|---|---|---|---| |Unrestricted| |funds|Restricted| |General funds|funds|2025|2024| |£|£|£|£| |Consultancy|7,300|-|7,300|33,278| |Contracts, grants and service level agreements| |-|Cairngorms National Park Authority|-|-|-|19,007| |- The Hunter Foundation|-|18,650|9,000| |18,650| |----------------------------------------------------------|----------------------------------------------------------|-----------------------------------------------------|-----------------------------------------------------| |25,950|-|25,950|61,285| |=====================================================|=====================================================|=====================================================|=====================================================| **----- End of picture text -----**
Income from charitable activities was £25,950 (2024: £61,285) of which £25,950 (2024: £61,285) was unrestricted general and £nil (2024: £ nil) was restricted. 18 Wellbeing Economy Alliance Scotland Financial statements for the year ended 31 March 2025 ## Notes to the financial statements ## **4 Expenditure on charitable activities** ||**Unrestricted**|||| |---|---|---|---|---| ||**funds**|**Restricted**||| ||**General funds**|**funds**|**2025**|2024| ||**£**|**£**|**£**|£| |Staff Costs|**181,778**|**22,298**|**204,076**|176,141| |Other staff costs|**672**|**-**|**672**|1,977| |Consultants|**17,989**|**36,031**|**54,020**|60,830| |Insurance|**529**|**-**|**529**|584| |Printing, postage and stationery|**100**|**-**|**100**|518| |Meetings, travel & mileage|**852**|**128**|**980**|6,258| |IT and software|**1,886**|**-**|**1,886**|4,512| |Events|**200**|**-**|**200**|1,255| |Bank fees|**102**|**-**|**102**|69| |Project costs|**1,538**|**6,037**|**7,575**|16,429| |Rent and utilities|**2,495**|**-**|**2,495**|4,256| |Governance Costs||||| |External Scrutiny Services|**1,020**|**-**|**1,020**|990| |Accounting Services|**2,370**|**-**|**2,370**|2,370| ||**-------------------------------------------------------**|**-------------------------------------------------**|**----------------------------------------------------**|----------------------------------------------------| ||**211,531**|**64,494**|**276,025**|276,189| ||**======================================================**|**==============================================**|**==============================================**|**==============================================**| Expenditure on charitable activities was £276,025 (2024: £276,189), of which £211,531 (2024: £184,133) was unrestricted general and £64,494 (2024: £92,056) was restricted. Support costs have not been separately identified as the Trustees consider there is only one charitable activity. Therefore, support costs relate wholly to that activity and have not been separately identified. ## **5 Net incoming resources** Net incoming resources are stated after charging: ||**2025**|2024| |---|---|---| ||**£**|£| |Amounts payable to Independent Examiner:||| |External scrutiny services|**1,020**|990| |Accountancy services|**2,370**|2,370| ||**-------------------------------------------------------**|---------------------------**-**--------------**-**----------| ||**3,390**|3,360| ||============================================================|=============================================================| |**Staff costs**||| ||**2025**|2024| ||**£**|£| |Salaries and wages|**181,039**|155,562| |Social security costs|**14,021**|10,714| |Pension costs|**9,016**|9,865| ||**-------------------------------------------------------**|-------------------------------------------------------| ||**204,076**|176,141| ||**======================================================**|**======================================================**| ## **6 Staff costs** 19 Wellbeing Economy Alliance Scotland Financial statements for the year ended 31 March 2025 ## Notes to the financial statements ## **6 Staff costs (continued)** One staff member earned £60,000 - £70,000 (excluding employer pension costs) (2024: none). The Charity considers its key management personnel comprise the trustees and the Directors. The total employment benefits including employer pension contributions of the key management personnel were £66,282 (2024: £62,903) The average number of staff employed during the period was 5 (2024: 4). The pension costs noted above relate to contributions made by the company in respect of certain employees to a defined contribution scheme. Pension costs of £9,016 (2024: £9,865) were charged to unrestricted funds. ## **7 Trustees** No Trustees received remuneration (2024: None). No expenses were paid to trustees in the current year (2024: £87 of travel expenses were paid to two trustees). No trustee or person related to a trustee has a personal interest in any contract or transaction entered into by the charity during the current or prior year. There were no donations to the charity by trustees in the current or prior year. ## **8 Debtors and prepayments** ||**2025**|2024| |---|---|---| ||**£**|£| |Trade debtors|**42,200**|3,200| |Accrued income|**-**|100,000| |Prepayments|**445**|440| ||**------------------------------------------------**|------------------------------------------------| ||**42,645**|103,640| ||**==============================================**|**==============================================**| ## **9** ## **Creditors: amounts falling due within one year** ||**2025**|2024| |---|---|---| ||**£**|£| |Trade creditors|**1,242**|937| |Accruals and deferred income|**11,520**|10,271| |Other creditors|**1,140**|1,310| ||------------------------------------------------|------------------------------------------------| ||**13,902**|12,518| ||================================================|================================================| 20 Wellbeing Economy Alliance Scotland Financial statements for the year ended 31 March 2025 ## Notes to the financial statements ## **9 Creditors: amounts falling due within one year (continued)** ## **Deferred income** **----- Start of picture text -----**
||||| |---|---|---|---| |Movement in deferred income|2025|2024| |£|£| |Balance at 1 April|-|27,600| |Deferred income due to timing of services performed|The Corra Foundation|500|-| |Deferred income due to timing of services performed|Clackmannanshire Council|10,000|-| |Release prior year deferred income|-|(27,600)| |------------------------------------------------|------------------------------------------------| |Balance at 31 March|10,500|-| |===============================================|================================================| **----- End of picture text -----**
## **10 Movement in funds** **----- Start of picture text -----**
|||||||| |---|---|---|---|---|---|---| |At 1 April|Incoming|Outgoing|Transfers|At 31| |2024/2025|2024|resources|resources|March 2025| |£|£|£|£| |Restricted funds| |Cattanach Fund|Phase 2|69,494|-|(64,494)|-|5,000| |------------------------------------------------|------------------------------------------------|------------------------------------------------|----------------------------------------|------------------------------------------------| |-|-| |69,494|(64,494)|5,000| |===============================================|==============================================|===============================================|========================================|===============================================| |Unrestricted funds| |General funds|160,624|178,950|(211,531)|-|128,043| |------------------------------------------------|------------------------------------------------|------------------------------------------------|----------------------------------------|------------------------------------------------| |Total funds|230,118|178,950|(276,025)|-|133,043| |===============================================|===============================================|===============================================|========================================|===============================================| **----- End of picture text -----**
21 Wellbeing Economy Alliance Scotland Financial statements for the year ended 31 March 2025 ## Notes to the financial statements ## **10 Movement in funds (continued)** |**2023/2024**||At 1 April
2023|Incoming
resources|Outgoing
resources|Transfers|At 31
March 2024| |---|---|---|---|---|---|---| ||||£|£|£|£| |**Restricted funds**||||||| |Cattanach Fund
|Phase 2|92,800|100,000|(92,056)|(31,250)|69,494| |Bosch Fund||19,284|-|-|(19,284)|-| |||------------------------------------------------|------------------------------------------------|------------------------------------------------|----------------------------------------|------------------------------------------------| |||112,084|100,000|(92,056)|(50,534)|69,494| |||**===============================================**|**==============================================**|**===============================================**|**========================================**|**===============================================**| |**Unrestricted funds**||||||| |General funds||92,938|201,285|(184,133)|50,534|160,624| |||------------------------------------------------|------------------------------------------------|------------------------------------------------|----------------------------------------|------------------------------------------------| |**Total funds**||205,022|301,285|(276,189)|-|230,118| |||**===============================================**|**===============================================**|**===============================================**|**========================================**|**===============================================**| ## **Restricted funds** _Cattanach Fund_ funding from Cattanach relating to Wellbeing budgeting for the Early Years Project. _Bosch -_ match funding for the policy design guide pilot project, which is Love Letham in Perth and Kinross, where we . Transfers in the prior year relate to funding awards where grant conditions have been met and any remaining amounts unspent have been transferred to unrestricted income. ## **11 Analysis of net assets between funds** |31 March 2025|Unrestricted|Restricted|| |---|---|---|---| ||General|funds|Total| ||funds||| ||£|£|£| |Net current assets|128,043|5,000|133,043| ||------------------------------------------------|------------------------------------------------|------------------------------------------------| |Net assets at 31 March 2025|128,043|5,000|133,043| ||===============================================|===========================================|===============================================| |31 March 2024|Unrestricted|Restricted|| ||General|funds|Total| ||funds||| ||£|£|£| |Net current assets|160,624|69,494|230,118| ||------------------------------------------------|------------------------------------------------|------------------------------------------------| |Net assets at 31 March 2024|160,624|69,494|230,118| ||===============================================|===========================================|===============================================| 22