The year began with our newly restructured management team which now includes Emily (Counselling Manager), Jacqui (Office Manager) and Alan (Development Manager). Our team of counsellors, who received a pay increase in June, has now risen to 70 members. In addition to the £6,800 grant from The Mayor’s Charity at the end of our last financial year, we continue to benefit from the grant support from the Veteran’s Foundation awarded last year. In our first two months of the current financial year, we have secured £6K in grant funding from Chalk Cliff Trust (£5K) and Homity Trust (£1K). A further 15 grant applications have been submitted, of which 9 are still pending a response.
We remain committed to achieving financial sustainability within the next 3 years, which we hope to reach by implementing a range of new initiatives including:
Promoting the Eastbourne Local Lottery.
Pushing the 'Friends of The Old Bank' scheme, with the aim of increasing direct debits by 120 per year with potential growth to £40K over five years.
Encourage online shopping donations with EasyFundraising – now integrated into our exit survey along with Friends of The Old Bank.
A revised assessment donation strategy to encourage larger contributions, though recent feedback suggests further adjustments may be needed.
Together, these initiatives should begin to reduce our reliance on grant funding from approximately £40K to a target of less than £10K annually, thus ensuring more reliable sustainability for the future.
Thanks to the following organisations for their grants/donations:
The Guy Charitable Trust
Chalk Cliff Trust
The National Lottery/Eastbourne Lottery
Albert Hunt
John Jackson Trust
Magdalen Trust
Veteran’s Foundation
Hazell Forums
Stage Coach
Victoria Baptist Church
Thanks to the following organisations for their collaboration:
Adfam
Mankind CIC
Southern Wellness Action Group
Bourne Out LGBTQ+
Morrisons (Community Champion)
Kingdom Way Trust
Bramber Bakehouse
Sanctuary
The Hampden Park Shed Project
The Women’s Institute (Willingdon)
Enthum House
Charlie Waller
A Band of Brothers
New Maudsley Carers
We look forward to furthering our partnership with these and other organisations in the future.
Private donations – while many of our private donors over the year wish to remain anonymous, we wish to thank you publicly here, you know who you are!
The trustees of The Old Bank Wellbeing Trust present their annual report and financial statements for the year ended 30 June 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 Trust's [governing document], 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).
The vision of the TOB is that it becomes a significant source of affordable counselling to the Public using bursary funding to help cover some of the cost of receiving timely treatment. TOB is here to assist clients, who are in need, in order to help those beneficiaries experience a better quality of life.
Its objects are as follows:
The relief of sickness and promotion of good mental health for the public benefit by: - The provision of accessible, evidence based psychotherapeutic services.
Support for training and development in counselling and related skills.
Values
Compassion & Accessibility: This dual value speaks to the heart of the charity's mission. Compassion is the driving force behind providing TOB’s mental health services to those who need them the most. Coupled with accessibility, it ensures that the services are not only available to all but also provided in a manner that is empathetic and understanding of individual circumstances.
Financial Sustainability & Support: Financial sustainability is crucial for the charity to continue its mission over the long term. It includes being wise with funds, fundraising effectively, and ensuring that services can be offered at low or no cost through a bursary or sliding scale system. This value also communicates to donors and clients that their investment or use of services contributes to a stable, ongoing resource in the community.
Professionalism & Trustworthiness: A charity that offers specialist mental health therapy must be seen as professional and trustworthy. This means employing qualified therapists, maintaining confidentiality, and ensuring a safe and supportive environment for clients. Professionalism in this context does not only mean having the right qualifications but also refers to the manner in which services are delivered—consistently, competently, and with care.
Tailored Care & Individual Focus: Recognising that each client is unique and not just another client in the system reflects a commitment to individualised care and something TOB do well. This value encompasses the tailored matching of therapists to clients, the thoughtful consideration of each person's needs, and the flexible approach to therapy. It ensures that clients feel seen, heard, and cared for on a personal level.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Trust should undertake.
Public benefit & impact
(1) Counselling Appointments
533 active counselling clients (seen by 70 counsellors)
Total Individual Appointments 5887 95%
Total Couples Appointments 306 05%
Total Counselling Appointments 6193
Total Student Counsellor Appointments 2261 37%
Total Qualified Counsellor Appointments 3437 55%
Total Specialist Counsellor Appointments 495 08%
6193
Total Bursary Appointments 1334 22%
Total Student/No Bursary 1846 29%
Total Subsidised Appointments 3180 51%
(2) Assessments
Assessment Adult 213 70%
Assessment CYP 91 30%
Total Assessments 304
(3) Supervision (TOB)
QC (Qualified Counsellor; SC Student Counsellor)
86 TOB QC £1,500
156 TOB SC (free) £0
(4) Reflective Practice Supervision & Counselling Supervision (1-1)
External including TOB counsellors in private practice
17 counselling supervision sessions £ 855
31 reflective practice supervision individual sessions £1,615
23 reflective practice supervision group sessions £ 725
Income during the year ended 30th June 2024 was £351,468 (2023: £274,727). Net movement in funds for the year was a surplus of £55,084 (2023: £21,608).
As at 30th June 2024 unrestricted funds were £63,762 and restricted funds stood at £30,311.
TOB currently maintains a small amount of reserves, which might not be sufficient to address potential risks or changes in circumstances that could affect TOB’s operations and TOB’s ability to fulfil its charitable objectives.
To mitigate these risks and ensure the stability of TOB’s operations, TOB has decided to aim for reserves of three months’ worth of expenditure, currently approximately £74,000 This amount has been determined as a suitable level to provide a buffer against uncertainties.
The trustees have assessed the major risks to which the Trust is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
The Old Bank Wellbeing Trust (TOB) is a charitable company limited by guarantee and not having a share capital, with registration number 12082101. It is recognised as a charity for tax purposes by HMRC and is registered with the Charity Commission under charity number 1201806.
Key points relating to governance are as follows:
TOB has a Memorandum and Articles of Association which establish the objects and powers of the charitable company and is governed under its Articles of Association of February 2023.
TOB is governed by its Board of Trustees.
The Trustees who served during the year and up to the signing of the financial statements were: Carl Guy (Chair), Claire Howell (Deputy Chair), Dr Timothy Caroe (Treasurer), Daniella Guy, Nicholas Hazell (Secretary), Natalie Graham and Beruk Berhane.
The Trustees meet on a periodic basis to consider items such as achievements, partnerships, risk management, regulations and finances.
All Trustees’ meetings can now be held in person at a dedicated site or by recorded online meetings. Minutes are taken at all meetings and are available to the Charity Commission as is set out in governance.
Given that TOB is responsible for allocating funds donated by the public, the Trustees place the utmost importance on good governance. We continue to monitor best practice in charity governance and adapt as necessary.
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:
A new senior leadership team was formed in July 2024 consisting of Alan Smithson (Development Manager), Emily Heseltine (Counselling Manager) and Jacqui Thornett (Office Manager). The senior leadership team work with the trustees and report directly to them on all activities and issues. There are a further 5 members staff working within the administration team.
The trustee's report was approved by the Board of Trustees.
The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the or of the company for that period. In preparing these financial statements, the directors are required to:
• select suitable accounting policies and then apply them consistently;
• make judgements and accounting estimates that are reasonable and prudent;
• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
I report to the trustees on my examination of the financial statements of The Old Bank Wellbeing Trust (the Trust) for the year ended 30 June 2024.
Having satisfied myself that the financial statements of the Trust are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Trust’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
accounting records were not kept in respect of the Trust as required by section 386 of the 2006 Act; or
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
This is the first period of account since the company was registered as a charity.
The Old Bank Wellbeing Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is The Old Bank, 23-25 Brassey Avenue, Eastbourne, East Sussex, BN22 9NH.
The financial statements have been prepared in accordance with the Trust's governing document, 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 Trust is a Public Benefit Entity as defined by FRS 102.
The Trust 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 Trust. 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.
At the time of approving the financial statements, the trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
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.
Cash donations are recognised on receipt. Other donations are recognised once the Trust 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.
Donated goods and services given for use by the Trust are recognised when receivable, and are valued at a best estimate of market value. Stocks of undistributed donated goods are not valued for balance sheet purposes.
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
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 basis:
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.
At each reporting end date, the Trust 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).
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.
The Trust 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 Trust's balance sheet when the Trust 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.
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, 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.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
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.
Financial liabilities are derecognised when the Trust’s contractual obligations expire or are discharged or cancelled.
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 Trust is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Deferred income
Where income is received for a specific project, the income is deferred until that project commences, in order for the income to be matched with the corresponding expenditure.
In the application of the Trust’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Donated goods and services above includes various items that have been gifted to the Trust, including office equipment and training services.
The above figure does not include the estimate of time donated by volunteers. Two of the trustees offer clinical services free of charge, and it is estimated that this equated to around 346 hours of combined time, with an estimated value of £15,330 for the year and two other qualified counsellors offered their time for free for 389 hours totaling £6,915.
No provision has been made for the premises provided rent free by The Guy & Co Charitable Trust, as referenced in note 17.
Two trustees received reimbursement of expenses in the year totaling £7,160, relating to charity running costs.
Total donations from trustees and their related parties amounted to £52,025.
The average monthly number of employees during the year was:
The remuneration of key management personnel was as follows:
Key management personnel comprises the senior leadership team of Alan Smithson (Development Manager), Emily Heseltine (Counselling Manager) and Jacqui Thornett (Office Manager).
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
The Trust operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Trust in an independently administered fund.
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.
Mankind Fund - this fund contains receipts to provide additional support to clients referred from the local Mankind support group.
Chalk Cliff Trust - this is an additional fund towards bursaries.
SWAG fund - contains funds for referrals from the Southern Wellness Action Group.
Homity fund - this contains monies to enable us to provide bursaries.
Langey fund - this represents monies towards the support of Langey residents.
Adfam fund - this relates to monies for the provision of addiction support referrals.
Albert Hunt fund - this relates to monies for the provision of support to children and young people under 16.
John Jackson Trust fund - this relates to monies for the overhead costs.
Magdalen Trust fund - this relates to monies for the provision of support to children and young people under 25.
Veterans Foundation fund - this relates to monies for the provision of support to clients referred from specific Armed Forces Organisations.
National Lottery fund - this relates to monies for the provision of support for emotional support for families in financial hardship.
Guy Charitable Trust fund - during the year it was decided this fund was not actually a restricted fund and the balance was transferred to the unrestricted fund.
Due to the way that costs have been allocated against the relevant restricted fund, some funds had a negative balance in 2023. Transfers have therefore been included to reimburse these negative funds from unrestricted reserves.
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.
The Trust was founded by The Guy & Co Charitable Trust with two common directors/trustees. The Trust use premises provided by The Guy & Co Charitable Trust under a 25 year lease dated 1st July 2024 with an annual rent of £1. The Trust received donations of £50,000 from The Guy & Co Charitable Trust during the year.