THE PATH TO TRUE WELLBEING CIC

Company limited by guarantee

Company Registration Number:
14548984 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2024

Period of accounts

Start date: 19 December 2022

End date: 31 March 2024

THE PATH TO TRUE WELLBEING CIC

Contents of the Financial Statements

for the Period Ended 31 March 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

THE PATH TO TRUE WELLBEING CIC

Directors' report period ended 31 March 2024

The directors present their report with the financial statements of the company for the period ended 31 March 2024

Directors

The directors shown below have held office during the whole of the period from
19 December 2022 to 31 March 2024

Judith Hanson
Susan Royle
Stephanie Beeston-Clarke


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
1 August 2024

And signed on behalf of the board by:
Name: Judith Hanson
Status: Director

THE PATH TO TRUE WELLBEING CIC

Profit And Loss Account

for the Period Ended 31 March 2024

15 months to 31 March 2024


£
Turnover: 701
Gross profit(or loss): 701
Administrative expenses: ( 628 )
Operating profit(or loss): 73
Profit(or loss) before tax: 73
Tax: ( 14 )
Profit(or loss) for the financial year: 59

THE PATH TO TRUE WELLBEING CIC

Balance sheet

As at 31 March 2024

Notes 15 months to 31 March 2024


£
Current assets
Cash at bank and in hand: 2,866
Total current assets: 2,866
Prepayments and accrued income: 57
Creditors: amounts falling due within one year: 3 ( 2,864 )
Net current assets (liabilities): 59
Total assets less current liabilities: 59
Total net assets (liabilities): 59
Members' funds
Profit and loss account: 59
Total members' funds: 59

The notes form part of these financial statements

THE PATH TO TRUE WELLBEING CIC

Balance sheet statements

For the year ending 31 March 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 1 August 2024
and signed on behalf of the board by:

Name: Judith Hanson
Status: Director

The notes form part of these financial statements

THE PATH TO TRUE WELLBEING CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover represents the invoiced value of goods and services supplied by the company, net of trade discounts.

    Other accounting policies

    TAXATIONTaxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

THE PATH TO TRUE WELLBEING CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

  • 2. Employees

    15 months to 31 March 2024
    Average number of employees during the period 0

    TRANSACTIONS WITH DIRECTORSDuring the year the CIC received donations from J Hanson and S Beeston-Clarke of £50 each.S Beeston-Clarke has also provided a loan to the CIC of £350 which was still outstanding at the year end.No director received any remuneration from the CIC.

THE PATH TO TRUE WELLBEING CIC

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Creditors: amounts falling due within one year note

15 months to 31 March 2024
£
Taxation and social security 14
Accruals and deferred income 2,500
Other creditors 350
Total 2,864

COMMUNITY INTEREST ANNUAL REPORT

THE PATH TO TRUE WELLBEING CIC

Company Number: 14548984 (England and Wales)

Year Ending: 31 March 2024

Company activities and impact

The Path to True Wellbeing CIC undertakes to provide a range of affordable and accessible wellness services to people who are typically struggling to access NHS mental health or other wellbeing provision in a timely way, and are typically unable to afford the full cost of a private professional.Our vision is to provide both individual sessions, and a central ‘Hub’ of resources online that will provide immediate help with mental and other health issues, with advice on maintaining mental, emotional and physical wellbeing in the long term.The impact of this is to reduce the overall costs of poor health which are wide ranging and affect relationships, the quality of parenting and the ability to work or access education effec-tively. The impact of the clients’ wellbeing improving means that families and employers will also benefit. We provide some face-to-face sessions, but additional benefits will be provided by remote sessions removing geographic boundaries to services for clients plus access for those una-ble to attend face-to-face sessions due to disability, lack of childcare or access to good transport.Our online Hub (when set up) will provide a variety of resources to support those not yet ready to work directly with a professional and those who wish to take control of their personal wellbeing. Our medium-term goals include the provision of client bursaries funded by indi-viduals and local businesses and group programs that provide peer support and lower cost options for clients seeking help.

Consultation with stakeholders

The Path to True Wellbeing CIC stakeholders are our clients, the therapists who will be undertaking the work, our funders, and society as a whole.In the past year we have undertaken a number of consultations with the therapists with regard to the conditions their existing private clients face when trying to obtain support, the types of services they are able to offer to the CIC, and involved them with regular updates on the progress as well as agreeing with them the number of hours available to the CIC and the payment structure.Since incorporation, we have struggled to get the infrastructure in place necessary to start operations due to lack of funding for essential elements such as a website with booking system, marketing and logo development, insurance, and legal contracts required with the therapists before we could start to deliver services to the public.As we reached the end of our first reporting period, one of the directors has delivered a very small number of services where the need was identified from conversations held. Some initial funding has now been awarded to enable us to set up a ‘brochure’ website and enable us to start marketing the CIC services and this is expected to go live around September 2024, and will also enable us to begin delivery of services from the full range of therapists available (currently 8).We are currently seeking further funding to expand the website to include the booking system and start to upload resources to the Hub, and to purchase a Windows laptop for CIC use. Once the initial setup is complete, our aim is to continue seeking ongoing funding to subsidise the cost of the services to the client. In addition we will be seeking Patrons and to work with Corporate clients to ensure the CIC is working towards sustainability.

Directors' remuneration

During the period the directors of The Path to True Wellbeing CIC were:Mrs Judith Hanson – no remuneration was received during the periodMrs Susan Royle – no remuneration was received during the periodMrs Stephanie Beeston-Clarke – no remuneration was received during the periodThere were no other transactions or arrangements in connection with the remuneration of directors, or compensation for director’s loss of office, which require to be disclosed.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
1 August 2024

And signed on behalf of the board by:
Name: Judith Hanson
Status: Director