Charity registration number SC012574 (Scotland)
Company registration number SC120813 (Scotland)
BRAID HEALTH & WELLBEING LTD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
BRAID HEALTH & WELLBEING LTD
CONTENTS
Page
Trustees' report
1 - 4
Independent examiner's report
5
Statement of financial activities
6
Balance sheet
7
Notes to the financial statements
8 - 19
BRAID HEALTH & WELLBEING LTD
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
- 1 -

The trustees present their annual report and financial statements for the year ended 31 March 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's governing document, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

Our aim is to positively enhance the ageing process for elderly, isolated and vulnerable individuals and offer the very best health and wellbeing support.

Braid Health & Wellbeing provides a digital and physical space for everyone in need of support as they transition through life’s stages.

Achievements and performance

The year can be summarised well by stating that unforeseen challenges in the finance and funding arena were somewhat offset by the ongoing outstanding work of staff and volunteers.

In April of 2023, the way Braid H&W was funded by West Lothian Health & Social Care Partnership (HSCP) changed. This new way of Unit Cost allocation resulted in a significant decrease in the overall annual amount provided by the Partnership. The drop in funding from FY 2023 to FY 2024 was more than £210,000. (over 50%) At the same time, after a prolonged period where we had enjoyed a rent-free arrangement from West Lothian Council, a new levy was introduced and an annual rent more than £43,000 was requested.

The combination of a drop in key funding and a new request for rent payments provided somewhat of a ‘perfect storm’ in relation to financial difficulty. Braid’s Board and staff have worked hard to find cost savings and examine ways to generate increased income, however we can all appreciate the extent of the challenges faced with such a significant change to income.

Significant work is ongoing to examine opportunities to bridge the funding gap and provide a sustainable future for the organisation, although as can be seen from the report, we have reported a significant deficit this year. Our Senior Management Team have made a range of adjustments to our spending to reduce our cost base as far as possible, whilst of course still ensuring there are enough staff and facilities to provide a safe, high-quality service. On behalf of the Board, I would like to praise the senior team for their ongoing work in this matter.

On a more positive note, and despite all the challenges noted above, Management, Staff and Volunteers have worked tirelessly and selflessly to ensure that the high standards of service the community expect of Braid H&W have continued. The Board are very grateful to everyone for their diligence, fortitude and commitment.

Staff are proud of our ethos that clients are the heart of who we are. We strive to ensure that each client who attends is treated with a person-centred approach and that their individual needs are central to the care they receive. With the changing times and needs of people, we strongly believe that no person should be excluded from being able to be part of our amazing community. Our Services are now designed so that we can tailor the support for anyone who requires additional adaptations to meet their needs.

Clients can access services through a range of funded and part-funded options provided by West Lothian Council Social Work Department. We are particularly proud to have introduced a new service this year where clients who require 1 to 1 support can access our wide range of facilities and enjoy being a part of their community. This helps ensure that nobody in need is excluded from getting the support that they require.

In addition to Council funded places, we have further expanded our offering to private clients, by increasing the range of activities on offer. The in-house facilities and wide range of fun and engaging activities offered each week, provide an attractive package to private clients, which helps with funding services to people in the community who are not able to afford private access.

BRAID HEALTH & WELLBEING LTD
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -

The Board has changed significantly this past year, with three new Trustees joining the group. The Board is currently made up of five individuals offering a range of experience in Finance, Healthcare, HR, Business and Senior Leadership across the Private, Statutory and Third Sectors.

The current Board are focused on a pragmatic, objective approach, taking decisions that position both the clients and valued staff as a priority. I would like to thank all Trustees for their contribution this year.

We are also mindful and respectful of the long heritage of the organisation and our presence in the community, where the work of our team has positively changed the lives of many people in West Lothian over the years. Braid is very much a community organisation.

Financial review

For the year ended 31 March 2024, the Statement of Financial Activities shows an overall deficit of £141,866 (2023 - surplus £98,493).

 

This is made up of a deficit of £131,912 (2023 surplus - £116,149) on unrestricted funds and a deficit on restricted funds of £9,954 (2023 deficit - £17,656).

 

The amount of unrestricted funds excluding designated funds held at 31 March 2024 was £112,284 (2023 - £240,579).

 

Designated funds held at 31 March 2024 was £22,938 (2023 - £26,555).

 

Restricted funds held at 31 March 2024 was £2,774 (2023 - £12,729).

 

The funds are detailed in the notes to the accounts.

Reserves Policy

The Trustees are monitoring their policy whereby the unrestricted funds not committed or invested in tangible fixed assets by the charity is between three to six months of expenditure. At the year end the reserves amounted to around 2 months of expenditure and the Trustees are working to remedy this.

Risk Management

The Trustees have conducted a review of the major risks to which the charity is exposed. A risk register has been established and is updated at least annually. Where appropriate, systems or procedures have been been established to mitigate the risks the charity faces.

Plans for future periods

Plans for the future

Our financial future has been stabilised through the awarding of the WLC contract for day care, some efficiency savings and the continued development of our private clients.

 

This has been achieved against the loss of the previous level of council support and the imposition of a rent for the property. As a board we are optimistic that we have weathered the potential storm of reduced funding and higher costs through the measures we have already taken and we are still hopeful that our health and well being emphasis will still realise involvement of other community groups which will provide us with other income streams.

Structure, governance and management

Braid Health & Wellbeing Ltd (previously known as Braid House Day Centre Limited) is registered with Companies House as a company limited by guarantee and is governed by the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 and the provisions set out in its memorandum and articles of association.

BRAID HEALTH & WELLBEING LTD
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -

Structure, governance and management (continued)

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

 

Mr R Barnes     Chair            (resigned 30/10/2023)

Mr J Moore     Vice-Chair/Chair        (Vice-Chair to 29/10/2023, Chair from 30/10/2023,                             resigned 23/11/2023)

Mrs H Clark    Treasurer        (Treasurer from 30/10/2023)

Ms C Gard                Vice Chair from 15/04/2024

Ms C Mellon                 (resigned 23/08/2023)

Ms A McKenzie                (appointed 28/07/2023, Secretary from 04/03/2024)

Mr R Baird                (appointed 19/07/2023, resigned 07/12/2023)

Mr I Dickson    Chair            (appointed 15/04/2024)

Ms M Canavan                (appointed 07/02/2024)

 

Senior Management Team

Lynda McArthur    Senior Manager        (appointed 01/03/2023)

Louise Jaundrill    Assistant Manager

 

Registered Charity Name

Braid Health & Wellbeing Ltd

 

Charity Registration Number

SC012574

 

Company Registration Number

SC120813

 

Principal Office and Registered Office

Braid House

Labrador Avenue

Howden

Livingston

EH54 6BU

 

Independent Examiner

Fiona Haro CA

Thomson Cooper

22 Stafford Street

Edinburgh    

EH3 7BD

Trustees

 

The trustees are appointed by the existing trustees at any time during the year. The existing trustees actively seek to recruit new trustees whose skills would complement and add to the Board. The memorandum and articles of association does not restrict the number of trustees that can be appointed.

 

No trustee shall be appointed to a salaried office of the charity.

 

The trustees are given an induction to the practical work of the charity. New trustees meet with the chairperson, other trustees and centre management and are given the previous years minutes of meetings, memorandum and articles of association, the latest financial statements, major reports and also the booklet Guidance for Charity Trustees' produced by OSCR. The booklet fully outlines the duties and responsibilities of charity trustees in Scotland.

 

The Board undertook training, together with senior staff, to maintain all compliance and statutory requirements. The trustees are responsible for the administration, management and control of the affairs and property of the charity.

BRAID HEALTH & WELLBEING LTD
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -

Braid Health & Wellbeing Ltd has a Board consisting of six trustees who meet monthly and are responsible for the strategic direction and policy of the charity. The trustees are responsible for ensuring that the charity delivers the services specified and that key performance indicators are met.

Statement of trustees' responsibilities

The trustees, who are also the directors of Braid Health & Wellbeing Ltd for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

 

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

 

In preparing these financial statements, the trustees are required to:

 

- select suitable accounting policies and then apply them consistently;

 

- observe the methods and principles in the Charities SORP;

 

- make judgements and estimates that are reasonable and prudent;

 

- state whether applicable UK Accounting Standards 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 operation.

 

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the Companies Act 2006. 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.

The trustees are responsible for the maintenance and integrity of the charity and financial information included on the Charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

The trustees' report was approved by the Board of Trustees.

Ms C Gard
Trustee
10 October 2024
BRAID HEALTH & WELLBEING LTD
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF BRAID HEALTH & WELLBEING LTD
- 5 -

I report on the financial statements of the Charity for the year ended 31 March 2024, which are set out on pages 6 to 19.

Respective responsibilities of trustees and examiner

The Charity’s trustees, who are also the directors of Braid Health & Wellbeing Ltd for the purposes of company law, are responsible for the preparation of the financial statements in accordance with the terms of the Charities and Trustee Investments (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006. The 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 financial statements as required under section 44(1)(c) of the Act and to state whether particular matters have come to my attention.

Basis of independent examiner's statement

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 financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, 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 financial statements.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

(a)
which gives me reasonable cause to believe that in any material respect the requirements:
(i)

to keep accounting records in accordance with section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and

(ii)

to prepare financial statements which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations;

have not been met or
(b)

to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.

Name : Fiona Haro CA
Relevant Professional Qualification : Chartered Accountant
On behalf of Thomson Cooper Accountants
22 Stafford Street
Edinburgh
EH3 7BD
Dated: 11 October 2024
BRAID HEALTH & WELLBEING LTD
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
Notes
£
£
£
£
£
£
Income from:
Donations and legacies
2
5,054
51,500
56,554
58,864
89,626
148,490
Charitable activities
3
365,265
-
365,265
558,079
-
558,079
Other trading activities
4
13,911
-
13,911
16,913
-
16,913
Total income
384,230
51,500
435,730
633,856
89,626
723,482
Expenditure on:
Raising funds
5
13,370
20,221
33,591
4,747
11,132
15,879
Charitable activities
6
502,772
41,233
544,005
512,657
96,453
609,110
Total expenditure
516,142
61,454
577,596
517,404
107,585
624,989
Net income/(expenditure)
(131,912)
(9,954)
(141,866)
116,452
(17,959)
98,493
Transfers between funds
-
-
-
(303)
303
-
Net movement in funds
(131,912)
(9,954)
(141,866)
116,149
(17,656)
98,493
Reconciliation of funds:
Fund balances at 1 April 2023
267,134
12,729
279,863
150,985
30,385
181,370
Fund balances at 31 March 2024
135,222
2,775
137,997
267,134
12,729
279,863

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

BRAID HEALTH & WELLBEING LTD
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 7 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
11
8,584
13,868
Current assets
Debtors
12
33,677
28,356
Cash at bank and in hand
162,558
260,924
196,235
289,280
Creditors: amounts falling due within one year
13
(66,822)
(23,285)
Net current assets
129,413
265,995
Total assets less current liabilities
137,997
279,863
The funds of the Charity
Restricted income funds
15
2,775
12,729
Unrestricted funds
16
135,222
267,134
137,997
279,863

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 2024.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 10 October 2024
Ms C Gard
Trustee
Company registration number SC120813 (Scotland)
BRAID HEALTH & WELLBEING LTD
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 8 -
1
Accounting policies
Charity information

Braid Health & Wellbeing Ltd is a private company limited by guarantee incorporated in Scotland. The registered office is Braid House, Labrador Avenue, Howden, Livingston, EH54 6BU.

1.1
Accounting convention

The financial statements have been prepared in accordance with the Charity's governing document, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 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 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for a period not less than 12 months. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Designated funds 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 financial statements.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4
Income
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.

Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

BRAID HEALTH & WELLBEING LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 9 -
1.5
Expenditure

Charitable expenditure includes direct and indirect costs of the charity. Indirect costs have been allocated between costs of activities in the furtherance of charitable objectives, and governance based on staff time and usage.

 

Governance costs include any costs in relation to audit and accountancy work, legal and professional advice, and consultancy costs associated with constitutional and statutory requirements.

 

 

Resources expended are included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT which cannot be recovered.

 

Support costs have been allocated between activities undertaken directly and charitable activities based on the number of staff involved in each area

1.6
Tangible fixed assets

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:

Leasehold improvements
25% Straight Line
Fixtures and fittings
25% Straight Line
Computers
33% Straight Line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7
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 indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

BRAID HEALTH & WELLBEING LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 10 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction 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 interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans 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. Financial liabilities classified as payable within one year are not amortised.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts 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 creditors are recognised initially at transaction price 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.

1.10
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

BRAID HEALTH & WELLBEING LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 11 -
2
Donations and legacies
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
£
£
£
£
£
£
Donations and gifts
5,054
-
5,054
58,864
-
58,864

Grants

-
51,500
51,500
-
89,626
89,626
5,054
51,500
56,554
58,864
89,626
148,490
Grants receivable for core activities
Age Scotland
-
-
-
-
1,000
1,000
Bank of Scotland
-
11,500
11,500
-
11,000
11,000
West Lothian Council Grant
-
-
-
-
25,000
25,000
Kickstart Scheme
-
-
-
-
2,926
2,926
RS McDonald Foundation
-
-
-
-
15,000
15,000
Turcan Connell
-
-
-
-
3,000
3,000
West Lothian Council - Voluntary Gateway
-
-
-
-
10,700
10,700
National Lottery
-
40,000
40,000
-
-
-
St James Place Wealth Management
-
-
-
-
1,000
1,000
Steel Charitable Foundation
-
-
-
-
15,000
15,000
Unpaid Carers Fund
-
-
-
-
5,000
5,000
Other
-
-
-
-
-
-
-
51,500
51,500
-
89,626
89,626
3
Charitable activities
2024
2023
£
£

West Lothian Council Income

208,761
421,808

Day Care Fee Income

156,504
136,271
365,265
558,079
BRAID HEALTH & WELLBEING LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 12 -
4
Other trading activities
2024
2023
£
£

University of Edinburgh

5,060
5,360
Hire of rooms
6,731
9,075
Fundraising events
1,917
1,732
Client activities
-
694
Sundry Income
203
52
Other trading activities
13,911
16,913
5

Raising funds

Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
£
£
£
£
£
£
Fundraising and publicity

Fundraising

10,140
20,221
30,361
1,517
11,132
12,649

Social work tutor costs

3,230
-
3,230
3,230
-
3,230
Fundraising and publicity
13,370
20,221
33,591
4,747
11,132
15,879
6
Charitable activities
2024
2023
£
£
Staff costs
281,321
343,712
Depreciation and impairment
4,283
5,356

Day care centre services

159,755
173,221
445,359
522,289
Share of support costs (see note 7)
96,471
81,277
Share of governance costs (see note 7)
2,175
5,544
544,005
609,110
Analysis by fund
Unrestricted funds
502,772
512,657
Restricted funds
41,233
96,453
544,005
609,110
BRAID HEALTH & WELLBEING LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 13 -
7
Support costs
Support costs
Governance costs
2024
Basis of allocation
£
£
£
Staff costs
2,419
-
2,419

Staff time

Depreciation
1,750
-
1,750

Usage

Premises

47,170
-
47,170

Usage

Communications and IT

266
-
266

Staff time

Heating and Lighting

33,489
-
33,489

Floor space

Water rates

5,349
-
5,349

Floor space

Equipment leasing

5,079
-
5,079

Usage

Payroll fees

744
-
744

Usage

Bad Debts

205
-
205

Actual

Independent Examination costs

-
2,175
2,175
Governance
96,471
2,175
98,646
Support costs
Support costs
Governance costs
2023
£
£
£
Staff costs
-
-
-

Staff time

Depreciation
1,750
-
1,750

Usage

Premises

44,852
-
44,852

Usage

Communications and IT

530
-
530

Staff time

Heating and Lighting

26,314
-
26,314

Floor space

Cleaning

-
-
-

Cleaning

Water rates

4,950
-
4,950

Floor space

Equipment leasing

2,161
-
2,161

Usage

Payroll fees

720
-
720

Usage

Loss on disposal of fixed asset

-
-
-

Usage

Audit fees
-
5,220
5,220
Governance
81,277
5,544
86,821
8
Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year.
BRAID HEALTH & WELLBEING LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 14 -
9
Employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
Day Centre staff
14
16
Employment costs
2024
2023
£
£
Wages and salaries
257,692
313,146
Social security costs
14,883
19,682
Other pension costs
11,165
10,884
283,740
343,712

The key management personnel of the charity comprise the trustees and the Senior Management Team. The total amount of employee benefits received by key management personnel is £74,710 (2023 - £46,948).

There were no employees whose annual remuneration was more than £60,000.
10
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

11
Tangible fixed assets
Leasehold improvements
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 April 2023
11,500
50,555
8,920
70,975
Additions
-
-
749
749
At 31 March 2024
11,500
50,555
9,669
71,724
Depreciation and impairment
At 1 April 2023
6,979
45,435
4,693
57,107
Depreciation charged in the year
1,750
2,035
2,248
6,033
At 31 March 2024
8,729
47,470
6,941
63,140
Carrying amount
At 31 March 2024
2,771
3,085
2,728
8,584
At 31 March 2023
4,521
5,120
4,227
13,868
BRAID HEALTH & WELLBEING LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 15 -
12
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
26,920
18,027
Other debtors
-
6,545
Prepayments and accrued income
6,757
3,784
33,677
28,356
13
Creditors: amounts falling due within one year
2024
2023
£
£
Other taxation and social security
4,226
5,554
Trade creditors
56,219
9,606
Other creditors
951
757
Accruals and deferred income
5,426
7,368
66,822
23,285
14
Retirement benefit schemes
Defined contribution schemes

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.

The charge to profit or loss in respect of defined contribution schemes was £11,165 (2023 - £10,884).

BRAID HEALTH & WELLBEING LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 16 -
15
Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

For the year ended 31 March 2024
Movement in funds
Balance at
1 April 2023
Incoming resources
Resources expended
Transfers
Balance at
31 March 2024
£
£
£
£
£
Corra Foundation
2,145
-
(1,309)
-
836
Bank of Scotland
3,267
11,500
(14,767)
-
-
Adapt & Thrive
1,514
-
(443)
-
1,071
Barchester Health
423
-
(163)
-
260
The Percy Bilton Charity
1,068
-
(459)
-
609
West Lothian Council - Voluntary Gateway
4,312
-
(4,312)
-
-
National Lottery
-
40,000
(40,000)
-
-
12,729
51,500
(61,454)
-
2,775
For the year ended 31 March 2023
Movement in funds
Balance at
1 April 2022
Incoming resources
Resources expended
Transfers
Balance at
31 March 2023
£
£
£
£
£
Corra Foundation
3,454
-
(1,309)
-
2,145
Age Scotland
-
1,000
(1,000)
-
-
Bank of Scotland
-
11,000
(7,733)
-
3,267
Adapt & Thrive
2,468
-
(954)
-
1,514
Barchester Health
586
-
(163)
-
423
St James Place Wealth Management
-
1,000
(1,000)
-
-
Kickstart Scheme
-
2,926
(2,960)
34
-
RS McDonald Foundation
-
15,000
(15,000)
-
-
Steel Charitable Foundation
-
15,000
(15,000)
-
-
The Percy Bilton Charity
1,527
-
(459)
-
1,068
Turcan Connell
-
3,000
(3,000)
-
-
West Lothian Council - Voluntary Gateway
22,350
10,700
(28,738)
-
4,312
West Lothian Development Main Fund
-
25,000
(25,025)
25
-
-
5,000
(5,244)
244
-
30,385
89,626
(107,585)
303
12,729
BRAID HEALTH & WELLBEING LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
15
Restricted funds
(Continued)
- 17 -

Corra Foundation Grant - for communication equipment and devices.

 

Age Scotland - Relaxation classes, Singer & Life Skills Project

 

Adapt & Thrive - Building & Post Pandemic Expenses

 

Barchester Health - Sensory Lights, Bubble Tube, Magicians Days

 

Kickstart Scheme - Kickstart salaries

 

RS McDonald - Community Health & Wellbeing Project

 

The Percy Bilton Charity - New Hoist

 

Turcan Connell/ Hugh Fraser - Community Health & Wellbeing Project

 

West Lothian Development Trust - Community Health & Wellbeing Project

 

Bank of Scotland - To fund external activity providers and activity clubs e.g. art therapists, reflexologist

 

St James Place Wealth Management - To fund occupational therapist

 

West Lothian Development Main Fund - Funding towards Community health & Wellbeing project costs:

 

National Lottery - Community Navigator Post,Volunteer costs,Maintenance and running costs.

BRAID HEALTH & WELLBEING LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 18 -
16
Designated funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

Movement in funds
Balance at
1 April 2022
Resources expended
Transfers
Balance at
1 April 2023
Resources expended
Balance at
31 March 2024
£
£
£
£
£
£
Designated improvement fund
17,581
-
-
17,581
-
17,581
Designated fixed assets
6,919
(665)
2,720
8,974
(3,617)
5,357
24,500
(665)
2,720
26,555
(3,617)
22,938

Designated Dementia Centre Facilities Improvement Fund

 

This fund is for the development of the two sitting rooms downstairs and any other improvements required. At 31 March 2024 the closing balance on the fund was £17,581 (2023 - £17,581).

 

Designated Fixed Assets Fund

 

It was agreed by the trustees that the fixed assets of the charity be disclosed separately from general funds as a designated fund. The balance on this fund at 31 March 2024 was £5,357 (2023 - £8,974).

17
Unrestricted funds

These are unrestricted funds which are material to the Charity's activities made up as follows:

For the year ended 31 March 2024
Movement in funds
Balance at
1 April 2023

Incoming resources

Resources expended

Balance at
31 March 2024
£
£
£
£
General funds
240,579
384,230
(512,525)
112,284
For the year ended 31 March 2023
Movement in funds
Balance at
1 April 2022

Incoming resources

Resources expended

Balance at
31 March 2023
£
£
£
£
General funds
126,485
633,856
(516,739)
240,579
BRAID HEALTH & WELLBEING LTD
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 19 -
18
Analysis of net assets between funds
Unrestricted funds
Designated funds
Restricted funds
Total
2024
2024
2024
2024
£
£
£
£
Fund balances at 31 March 2024 are represented by:
Tangible assets
3,227
5,357
-
8,584
Current assets/(liabilities)
109,057
17,581
2,775
129,413
112,284
22,938
2,775
137,997
Unrestricted funds
Designated funds
Restricted funds
Total
2023
2023
2023
2023
£
£
£
£
Fund balances at 31 March 2023 are represented by:
Tangible assets
4,894
8,974
-
13,868
Current assets/(liabilities)
235,686
17,581
12,728
265,995
240,580
26,555
12,728
279,863
19
Operating lease commitments

At the reporting end date the Charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2024
2023
£
£
Within one year
53,716
7,122
Between two and five years
20,326
5,012
In over five years
1,789
-
75,831
12,134
20
Related party transactions

No travel or subsistence claims were made by any trustee of the charity during the financial year (2023 - £nil). During the financial year a payment of £84 (2023 - £72) was made to J Moore in respect of reimbursement for domain costs.

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