REGISTERED COMPANY NUMBER: 02803045 (England and Wales) REGISTERED CHARITY NUMBER: 1020633 Report of the Truslees and Audltèd Flnanclal Statomonts for tho Y•ar End•d 31st March 2024 Cardlff Mind Ltd ,'lliiiJ.1111 'ADIIL60K24 0911212024 COMPANIES HOUSE A07 #243 Cardlff Mlnd Ltd Contents of ihe Financlal Statements for tha Year Ended 31$1 March 2024 Pa90 Report of tho Trustees I to 11 R•port of the Independ•nt Audttors 12 to 13 Statement ol Flnancial Activitlos 14 Balance Sh￿t 15 Cash Flow Slatem•nt 16 Notes to Iho Cash Flow Stat•m•nt 17 Not•s to tho Flnanclal S¢alom•nts 18 to 25 Cardiff Mind Ltd Report of the Trustoe$ for the Year Ended 31st March 2024 The Iruslees who are also directors of the charity for the purposes of the Companies Act 2006. present their report with the financial statemenls of th8 charity for the year ended 31st March 2024. The Iruslees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 (effeclive 1 January 2019). Obje¢liv•$ and activities Mlsslon "Cardiff Mind promotes positive emotional wellbeing through émpowering and supportlng people lo access opportunities to give them independence and quality of life." The Mission Statement has been reviewed and redrafted by the Management Committee at its meeting In November 202310 reflect the fact that the organisation sees itself as assisting individuals lo develop their own pathways lo mental wellbeing. Cardlff Mind has also adopted a statemenl of Organisational Values that influence the way in which ils staff, volunteers and Management Committee work. In addition, ils value5 influence the aims and objectives of the organisalion. Cardiff Mind will recognise that everyone's personal experience of mental health has significance lo Ih8m 8nd should be ré¢ognSsed and respected as a valid experience for thal individual. Cardiff Mind will work wth pèople by regarding them as individuals. treating them with dignity and respect and being sensitive to all of their experiences, beliefs, values, cultural. social and domestic résponsibilities and particularfy their aspirations. Cardlff Mind will recognise and value difference, promote inclusion and equallty of opportunity in all ils work and will seek to remove obstacles that prevent individuals from fully participating in its 8clivilies. Cardiff Mind will aclively challenge discrirninalion and stigma wherever it Is encountered and wlll promote th8 rights and responsibilities of individuals. Cardiff Mind will wèlcome and actively encourage full participation by people who access our services to effect developrnenl and evaluation of services and the organisalion Cardiff Mind believes everyone should have tha opportunity to be heard and will encouragè and support everyone to express their opinions. In practice this means that the people that we support are not solely restricted to those that have bèen calegorised by a medical diagnosis of 'severe and enduring mèntal health problems" we wish to support everyone who has or has had mental health issues. ObJ•cts of tho Charfty To promote the preservation of menial health in association with Mind (the National Associotion for Mental Heamh) and in accordance with the aims and objectives of Mind. Actlvlll•s Cardiff Mind is a Limited Company with charitable objectives whose aim is lo provide a range of Community based services lor people with mental health problems. The services currently provided include 5UPPOrted accommodation, 18nant support in their ovm homes, self management groups. counselling individual planning, self help and support groups. Page 1 Cardiff Mlnd Ltd R•port of the Trust•es for the Year Endèd 31st March 2024 Objoctlves and activities Alm1 To provide services that place the individual at their centre and that enables the individual to discover and realise their full potential as actively participating citizens. ObJoctlv•s Maintain and improvè a caSe-V￿rk approach for individual servic8 users. Discuss and plan with consumers ways in which they can improve their rnenlal health and wellbèlng by accessing support and advice from C8rdiff Mind and other agencies to overcome obstacles thai prevent them from achi8ving their potential. Deliver services in a way that best suits the communication preferences of people who use our seNices. Use opportunities to 8vidènc8 and c818braté the improvements that peopla make in their own lives. Aim2 To develop new serylces that enable the consumer to remaln within or return to their local community of choice. Objectlves Actively seek lo work viith customers lo dévelop new servicè models for accommodation and support Extend beyond current 18-65 clienl group by responding to requirements for age appropriate seNices Extend outroachlsatellite operations Into other geographlcal aréas of Cardiff and South Wales Alm3 To provide high quallty sepilces that evldence posltlve outcomes and value for money. Obj•etives Seek and attain externally recognised quality standards and h8llm8ths and embed those processes within the activities of the organisation utills8 oulcome-relaled performance monltonng systems Ihal Capture the progress rnade by indlvidual Se￿¢0 users. Contlnue lo develop a workforce that is qualified and compelenl to lake advantage of the potential for Service development. Alm4 To increase awareness and understanding of mental health Issues and to challenge stigma and discriminats'on. ObJ•¢tlve$ Take advantage ol the opportunilles that come about for mental health and well-being promotion - particularly In the workplace and educational establishments Provide training. advlce and support to mainstream organisalions to ensure that people with mental health Issues are able to access VK)rk, leisure, educational and reGreational opportunities Actively participate in opporlunilies to ￿Mpaign and influence at a local and national18v81 Page 2 Cardlff Mlnd Ltd Report of the Trustees far the Year Endèd 31sl March 2024 Objectives and aelivities Alm5 To work in partnership with individuals. funders and service providers to ensure that the National Service Framework becomes a reality fof people experiencing difficullies with théir mental health. Objectives Participate in a joined up solution for people experi8ncing difficulties with their mental health in Cardiff Work collaboratively wth voluntary sector partnèrs particularly with Mind in the Vale to develop equality of access lo opportunities for consumèrs throughout the UHB area. Ensure that all servicès provided and activities that take place within Cardiff Mind relate to and resonate with the Welsh Government's Vision Statement for Mental Health. Area of benefit Cardiff Mind operates primarily within the City of Cardiff allhough is able to provide telephone advice and informationlsignposling lo a wider catchment afea. It works with anyone who has or has experienced difficulties with their mental health together with their families and carers. 11 endeavours lo be an inclusive servlce to all citizens In accordance with ils Equal Opportunitl8s PolScy. Specific servlce provision Is very often restricted by the requirements of fijnders but Cardiff Mind is committed to helping people achieve the best possible oulcomes in their lives. In thè yéar we have dèvéloped p8rtnerships wilh employ8rs and other organisalions as part ol a more general strategy ol supporting mental hèalth and wellb8ing Yithin the community. The Memorandum and Articles provide for thé area of benefit to include the whole of the Piincipality but hitherto activities have been restricted by the conditions of fund8rs and also the Mind Membership Agreemenl. As part of a review of the Membérship Agreemènt il seems likely that these geographical restrictions will be relaxed in futurè and there *ryll be a greater emphasis on partnership working within the ne￿Ork Publ1¢ benaflt We rèview our aims, objectives and activltles each year. Thls review looks at what we achieved and the outcomes of our work in the previous tw8lv8 months. The review looks al Ihe success of each key activity to provide a ran9e of communily-based services for people with mental héalth problems. The review also helps us ensure our aims, objectives and activities remained focused on our slated objectives. We have referred lo the guidance conlained in the Charity Commission's general guidanee on public benefit when reviewing our aims and objectives and in planning our future activities thus ensuring that it continues in ils purpose to promote poslllva wellbeing through empowèring and supporting people to access opportunili8s lo glve them independence and quality of life. Page 3 Cardiff Mind Ltd Report of tho Trustees for the Yoar Ended 31st March 2024 Obj•ctivos and activiti08 Report of main activities Cardiff Mind has premises in the east of the City Centre where it offers a range of support s8rvic8s to people in Cardiff who have or are recovering from m8nt81 health problems. It also undertakes outreach work in other parts ol th8 City via the Floating Support Service. The Organlsation is currently structured into 2 service provision teams and an adminlslralive core. Thè service provision teams are.. Accommodation Support Houslng Supportod Housln9 Working in partnership with Housing Associations and Cardiff City Council. Cardiff Mind provides 26 bed spaces in shared houses and flats. The accommodation Is provlded with support b8fv48en 9 am and 7 pm with 24 hour emergency cover. The aim of the service is to encourage people who have long term Mental health problems to develop the social and general living skills which will enable them lo live successfully in the community. In 2023124 we entered into a pertnership with Cardiff & Vale UHB to assist those in hospital to move back into the community with support. The UHB now has sole nomination Tights. 11 Is Important to emphaslse that Ihe service is not intended to provide a home for life bul rather to work wlth the tenant to build up th8 skills and confidence that will enable them lo have a home of their own. The organisallon has sharpened up the individual support plans lo better 8quip Indlvlduals to a¢hleve greater Independence whll8 aGknowledging that there are some who will always require support. There are also continuing plan5 to review and wherever possible improve the quality of the accommodation provided thereby bullding upon the progress ol the last year. Floating Support- Supporting p¢ople in their own home8 Working in partnership ogain with Cardiff Clty Council a team ol support staff providés 8UPPOrt lo péople with mental health problems living in their own homes. The alm of the support Is to offer assistance wlh tènancy and r8lat8d areas to facililale successful community living. Som& of the service users have moved from Cardiff Mind's more intensively supported schemes. The service is funded to provide 9 whole lime equivalent places under the Cardiff Council Hoarding Project together with Domiciliary Support on a case by case basis. This has been developed in partnership with Community Mental Health teams to delivei longer term support a5 part of a care plan undei unified assessment arrangements. The volume of work generaled has offset the majority of revenue reductions and has continued to flourish despite the financial difficulties that face the Council. The contracts are on an individual case by case basis and consequenlly are somewhat vulnerable. That said, Ihere is a growing body ol evidence to support the view that the service provides a c05t-effeclive solution lo sustaining people in their own homes thereby avoiding hospilalisation or assisting in eartier discharge from hospital. Due lo financial constraints the Council has been foiced lo prioritise service users who are in need of personal care rather than those who require a prèventative servioe. The early indications are Ihal domiciliary support will suffer in the medium lemi. We also provide support to a number of individuals who have the resourc&s available to make their own support arran9ements as they do not access local authority financial support. The service is regulated by Care Inspectorate Wales. Page 4 Cardiff Mind Ltd Report of the Trustees fortho Year Ended 31st March 2024 Objectives and activities Indlvidualisod Planning l Day Sorvicos Prior lo any service user entering the service they are inviled to meet a member of the Planning T8am to discuss their petsonal circumstances and issues affecting their lives. This Initial Ass8ssment ensures that peoplé do not simply drift into a parlicular service but do so on thé basis of an informed choice and knowing how their attendance will be of benefit lo improving their life. More importantly this total review process enables us lo jointly consider what other solutions may be available to resolve other issues in théir lives and provides an opportunity lo receive specific assistance in accessing thesè. We can assist them in developing a plan to cover all aspects of their situation and can support them in achieving or attaining their goals. Ccls During the Course of 2019 we introduced as part of the requiremenls of a nèw contract with the University Health Board the CCI methodology as part of our work in GP surgeries. This proved popular and effective and so we have incorporated it into our Individual Personalised Planning se￿1¢8. There are a number of study modules that can be undertaken to enable the service user to b8ller understand their condition, Potential root causes and how lo develop coping slralegi8s. These modules are underpinned by Cognitive Behavioural Therapy Principles durin9 the initial assessment phase we work together to develop a personal plan. A¢llv• Monltorlnglsupported Self Help This offering wa5 originally developed and funded via Mindlmind Cymru and its funding came to an end in 2023124. It covers many of the areas containèd within thé CCI suite but is less onerous in terms of Ilme ¢ommilm8nl. 11 Is offered as a complimentary altemative lo Ccls for those accessing services outside of the Mind Cymru referral pathway. Counselllng We offer a free counselling service lo women and men who cannot afford to pay for a prSvale counsellor and who require a greater number of sessions than are provided under the NHS scheme. The service is operated by volunteers and we currently can sèe 80 individuals p8r week for up lo 8 16 week period In each case. The service has 50 person centred ¢ouns8llors. We also provide a f88-paying seNice for service users who are able and willing to make a financial contribution to receive a service from a professionally qualified sesslonal staff member. Thls service runs in parallel to th8 free serrfice and people are given a cle8r choice beh¥een the free NHS funded service and the fee-paying ono. In response to the needs of service users we have 81s0 d8v8loped a servlce th81 can counsel couples. Th18 cgn b8 as part of the freè or f8e-payin9 rout8S. Group Aetlvltlès Our Group Activities were cancelled as a result of COVID restrictlons and although our Wednesday Art Group has resumed, there seems to be little appetite for the resumplion of the others. As part of our Tier Zero work we provide Group Training in ACT and Stress Control within the wider Community. Tl•r Zoro We currently provlde Tier Zero t lo all GP practices coverlng Cardiff. Patients are refer￿d to us by the surgeries and are assessed for CCIISupported Self-help provision. Communlty Connectors We were awarded the Community Connectors Pilot Projecl which runs for 2 years from MaylJune 2021. This $evvice was extended until 31st March 2024. It is not a Mental Health service per se bul rather is designed tQ 8SSiSt hard-to-réach groups access opportunities within their lo¢al community. External partnorshlps As part of our strategy lo develop new revenue streams ,we provide extemal training lo a variety of other organisalions to increase awareness of mental health issues in the wider community. We provide such courses as mental heallh first aid and mental health awareness training to assist employers meet their obligations to their staff. There Is a developing market in this area particularly from Legal, Insurance and educational organisations which in part is down to the fact that mental health in the workplac8 has moved significantly up the employer agenda. We have also a developed a service that supports individual employees as part of a response lo personal issues they may be experiencing and on occasions traumatic incidents affecting larger groups within a workforce. Lattorly we have been able lo maximise oui reputation and hav& been delivery partners for Employment Projects and latterly with Cardiff Council lo provide Mental Health Support to slaff and tenants in ils Housing Service. Page 5 Cardlff Mlnd Ltd Roport of the Twstees for thè Year Endod 31st March 2024 Achlevement and perforniance Charitablè actlvitios Our initial response lo the pandemic was lo continue lo provide our seNi¢es as long as was possible. This was of course subject to govemment guidelines and the availability of slafflskills. This approach undoubtedly raised our profile with Commissioners and increased our repulalion as con51s1enl and committed partners. This involvod changing the way work particularty in Day ServiGes where we hed to develop a way of delivering services remotely by telephone or digitally. We also needed to build in additional resilience by training all staff to be able to undertake all aspects of our work. We negotiated changes with our college partners to maintain our free Counselling SèNicè remotely, this requirèd an additional module for students lo be completed and 81s0 temporary guidelines from the 8ACP to approve tho lernporary new way of working. This approach has bome fruit as w8 havè been able to maximisé opportunities ao¢ruing from Active Monitoring in which v operated our flexibl8 Stalfing approach lo exceed all oui initial tsrgets and picked up further work. We were also able to deliver contracts to employment providers that generated additional income. Our reputation for resilience and flexibility was appreciated particularly by the UHB and we were successful in being re-awarded our Core Contract and were in a slrong position lo bid for an extension to our Tier Zero Contract. Although there was a delay in awarding the contract until June 2022. we are pleased to report that we moved on from our single cluster in 2021122 to having all 6 C8rdiff Clusters. The award of the Community ConnecloTS Contract has required us to accommodate a new Staff team within the building. This nilially was achieved by ulllising rooms prevlously used for face to face counselllng. However. the lessening of COVID restrictions rneanl that the colleges wished us to resume face lo lace working. Fortunately. we were able to acquire a building to lease within our cuffent curtilag8 and we have been abl6 to turn this into a Counsalling venue. The Landlord ol our Officè and C08¢h House which were the basses lor seNic8 d8liv8ry indicated that the propertles would be sold and as a result Y￿ would b&18ft potentially homeless or al b8St subject to s new Landlord. W8 had already buill up a significant amount of R&servès and were therefore in a position lo purchase the Properties with the as5iSt8nce of a 50 /• rnortgage from the Ch8rily Bank. This was successfully delivered in 2023124 and il was decided lo utilizo the provision in Reserves for remedial work on the cessation of the Lease to reroof the buildings. We werè therefore able to ulilize our strong cash position to acquire a Fixed asset from whlch to deliv8r sarvices and retaln something which undoubtedly has an appreciating development value in lulure. We had previously anticipated the cessation of our Accommodation Support Service as the Council had indicated its intention to decommission, The servlce wa5 in the throes of being wound down, bul at the 11th hour we were approached by the UHB to develop a seNice utilsing the properties to enable hospital patients lo be supported on 8 pathway towards integration into the communily. This was vory much a pilol prolecl but the Management Committee lell that it was worth pursuing. As with any new development there were costs such as relurbishmenl and loss of income as a result of voids. We were however able to utilise our reserves lo meet this expenditure by way of sums designated for Operaling Costs and Redundancy Costs {which were no longer required). The pilot project has proved to be successful with full occupancy achieved in Q4 and a continuation of the project into 2024125. Although the project does nol necessarily assume the generation of a significant surplus il does make an important contribution to our overheads. Flnancl41 revlow Results The Charity made an overall deficit of £145,951 (2023.. £75,291 surplus.) This decreased the Charily's level of Teserves from £1,170.643 in 2023 to £1,024,692 as al 31 March 2024. The amount of these reserves attributable to unreslriGted reserves at that dale was £893,636 and £131.056 being attributable to restricted reserves. Investment policy and objectives The Charity has extensive investment powers under its Memorandum of Association restrlcted only by its charitable objects, prevailing legislation and the fiduciary duty placed on ils Trustees. Pa98 6 Cardiff Mind Ltd Report of the Trustees for the Year End•d 31st Mar¢h 2024 Flnanclal r•vl8w Reserves pollcy The Trustees of Cardiff Mind recognise the need to hold rèserves to ensure funds are 8vailable lo provide a range of communily-based servi￿$ for people with mental health problems should the income levels fall. If one or more projècts cease, the financial burden on those remaining will be greater as their share of central services will rise. Rese￿eS ar8 also required to meet the future business requirements particularly in terms of investment in information technology and staff training and development. It is the view of the Trustees that the continuation of the organisation and ils ability to deliver services lo ils beneficiaries will be dependent on il being a modern organisation maximising the benefits of IT and delivering Services through a highly trained and compelenl workforce. A mlnimum level of reserves needs to be retained lo ensure the Trustees can operate their exit strategy and meet its le9al commitments should the Charity be unable to continue due to a lack of a sustainable income stream. The Trustees have undertaken an analysis of short term reserv8 r8quir8menls and have invested some of the cash at b8nk balances to generate higher levels of income from inleresl than are ordinarily available from a current or evèn deposit account. The Charity is dependent upon receipl of Support People Revenue Grant. a contract with the Cardiff and the Vale Unlv8rsity Health Board and Grants previously adrninislered by the Wales Council for Voluntary Action and now by the UHB together with other income from donations, external training and private counselling. The cuffent economic climate is uncertain and the threat of Central Governmenl cuts will almost certainly have a negative impact on future income. Based on the above, the trustees have examined the charity's requirement for reserves in light of the main risks lo the organisalion. Based on this analysis. the Iruslees have developed a resekves policy and have calculated that the charity needs lo hold £490,000 in reserves to manage cash flow, continuity 8nd liability risks as well as any emergency expenditure and monies for expansion of sorvlces. Our current potential liabilities excluding amounts that would not be covered by elements of our restricl8d reseprfes are as follows.. Building improv8ments- £150,000 Redundancy Liability- £90,000 Operaling Costs - £100,000 SeNices Support- £100,000 Emergencies - £50,000 Total - £490k The level of available reserves, i.e. the lolal unreslricled reseNes less amounts invested in fixed assets, adjusted for mortgage loans, amounted lo £411,324 represents 23¥0 of total axpèndilure, on the assumption that the Charity wanted to maintain all ils current levèl of sèrvices with no reslricled fund income. The Trustees are committed lo maintaining current serrfice levels for as long 88 the funding permits. In¢reases In salaries wlll be dependent upon the level of future income streams. Page 7 Cardiff Mind Ltd Report of the Trustees for the Year Ended 31st Mar¢h 2024 Future plans As has been slated above. the partnership with the UHB to have full nomination rights lor our supported housing was established as a pilot project. The success in 2023124 generates a degree of optimism that Ihe new arrangements will be continued and fomalized by a direct contract with the UH8 rather than the intermediary involvements of the Council. Indeed, it is hoped that the service model might be 8xpand8d or adapted to suit the support requirements of other patients. The fact thal both Day SèNices and Tier Zero delivèr both CCI and SSH as core provision offers opportunities to have a combined leam of practitioners. This was one of our strengths during the pandemic and there is an opportunity to belter manage workload but also provide a grea18r consistency of approach by amalgamation under a single manag81. This is a benefit of the cessation of the Reporting requirements of the Mind Cymru SeNice which ceased on 31st March 3024. Although the Service received resources tho requirements were somewhat onerous and it gives us an opportunity lo work differently and generate ¢o$l savings. Our futuré plans therèfore are primarily ones of emphasis on service delivery more efficiently and effectively with a concentration on front line worker capacity to mlnlmize wailing times. This is primarily driven by the need lo be able to evldence performance levels for when the re-tendering by the UHB takes place. Although the UH8 has an option lo extend the conlra¢t for a further 2 years, we have to plan for a relendering lo become effective from 2025126. We are delighted to highlight an ever-strengthening partnership approach with Mlnd in the Vale who asslsled us wlth the development of Ihe Tier Zero Contract but perhaps more importantly has enabled u5 to consider how best to respond to opportunities and threats across the University Health Board area. We are both committed to ensuring that citizens in th8 area have access to a full range of services delivered to Mind values and see the lulure as being one of increasing Collaboration. The Domiciliary Support Service continues lo inhabit a very insecure environment with the former CCHA Contract being decommissioned and replaced by a pilol Hoarding Service. On a positive note there is a realistic prospe¢l that there will be increased opportunities for the service from the new way ol workln9 and the plans envlsage the retention of our flats and hopefully the continuation of the revenue attached thereto. Onco again, the Trustees have agieed a deficlt budget for 2024125 hopeful that we will continue lo manage our voids efficiently and that thè call on reserves will be less than planned. 11 is also important to note thal having evalualed Ihe reserve levels required lo meet liabilities and business continuity needs and mel those basic requirements the Trustees are of the view that excess resources should be deployed in such a manner as lo secure better services lor peoplé experiencing mental health issues, rather than simply storing them for future use. The deficit budget is very much in lin8 with the previously successful strategy to maintain capacity to maximise opportunities. Over the last few years our Reservès havé grown massively. The reseNelspend ratio will remain strong and funders will legilimalely ask "why are your Reserves so high and vthat do you intend lo do with them?". We have moved from 8 current assets based organis81ion into a mixed one following the purchase of our building this has also glven u5 a greater degree of control over our location.11 appeared lo be a sound strategy lo firmly establish our presence and commitment and provide a useful investment in the medlum term. This would also evidence our continuing commitment lo our service and its beneficiaries within the City and County of Cardiff. 01 course, recent experience has laught us that circumstances ¢an ¢h8nge masslvely - the P8nd8mic was 8 classic example. However, we can evidenc6 that via our robust Contingency and Business Conlinuily processes we can respond nimbly and indeed have beèn able to lum what could have so easily been a disaster into an opportunity lo strengthen our position. This has been driven by our fundamental 8lhos of supportlng our client group and worklng alongside Slalulory and Voluntary Sector partners to improve the lives of Cardiff citizens who are experiencing mental health issues. Structure. govornane• and management Governing document The charity is controlled by its governing document, a deed of trust, and constitutes a limSled company, limited by guarantee. as defined by Ihe Companies Act 2006. The Charity is a Limited Company (régistration number 2803045) and is governed by SIS Memorandum and Artlcles of Assoclation. Cardiff Mind is also registered with thé Charity Commissioners Number 1020633. Page 8 Cardlff Mlnd Ltd Report of the Trustee$ for Ihe Year Ended 31st March 2024 Structure, governance and management Trust00 appoinlm•nt, Induction and training The Charity Trustees are the people who are legally responsible for the overall management and dècision making in a charily. As a larger Charity, staff carry out the work of the charity and the Trustees are responsible for monitorin9 and controlling their activilies. The Trustees are also Directors for the purposes of the Companies Act. The Trustees are elected each year by the mémbers of the Company al the Company's Annual Gener81 Meeting and form Ihe Company's Management Committee. The Cornmittee also has designated members who carry out the roles of Chair. Vice-chair and Treasurer these too are elected at the Annual General Meeling. There can be up to 12 Trustees, a minimum of 2 musl be users of the service, a further 2 people may be co-opted to serve on the Committee. Prlor to the Annual General Meeting the Company publicises the fact that nominations are sought for election to the Management Committee via directly contacting members of the Company and expressions of interest are invited. Those members who are inlerèsled in seNing are invited to meel with the Chief Executive lo discuss thè role in greal8r detail and also what skills need to be acquired for tho individual lo actively and effectively contributo, This would th9n form the basis of an indivldual developmenuinduction plan. Following the Annual General Meèting thè Management Committee would consider its new composition and skill mix and would redress any shortcomings via advertisement and ini1181 co-option of int8r8sl8d persons. Th8 process of Infomal dlscussion with the Chief Executiv8 is similar as is the identification of personal development Issues. Prior to co-oplion the would-b8 Managemanl Committee Member is invited to attend a couple of Management Committéè Meètings as an observer prior lo becoming a co-OPl8d member. Corporat• governance The Organisalion is manag8d by a voluntary Management Commlttee whose role is to set the overall objedives for Cardiff Mind and lo ènsurè that the organlsation is keeping within ils legal and moral obligations. The Management Committee holds thé ultimate control and responsibility for Cardiff Mind and its Operations. Management Committee members are drawn from a wide background, bringing together professional, commercial and local èxperiencè. There are some members who can provide a seryice user perspective. As al the end of the Financial Year three of the Managernenl Committee brought such a perspecllve with person81 expèriéncé ol th8 complete range of services provided. This represents a significant proportion of th6 Committe8. The Committee meets fomally every three months and more frequently if operational or govemance issues require. As part of the Business Plannin9 exercise Ihe Committee Teviewed the skill mix available and increased its base by advertisin9 for new Committee members. The response allracted some high calibre candidales and will be reviewed on an annu81 basis. The Management Committee 1$ responsible for the organisation's strategy and policy framework. It delegates the day to day management and implementation of that framework to the Chief Executive. The Management Committee has developed and adopled a number of key policy inilialives designed to improve Corporate Governance and organisational performance. These arrangements are externally reviewed by funder5 and also have been scrulinised under Ihe Mind Quality Mark Framework in 2013114, with the highest level of accredilalion being awarded. The policies themselves are subject to Annual Review in general and a specific detailed Teview programrne to ensure that they remain fit for purpose. We were reviewed under the MQM framework in June 2023. Relatod partles There are no relaled party transaclions. Reference and administratlve detail$ Reglstered Company numb•r 02803045 (England and Wales) Registered Charity number 1020633 Reglstered offlce 166 Newport Road Cardiff CF24 1DL Page 9 Cardiff Mind Ltd Report of th• Trustees forthe Year Ended 31st March 2024 Truslees Philip Edwards - Chair Julie Anne Dawson Lee Lanciotti - Vice Ch8ir Neil Fulton Treasurer Jacqueline Mary Jonès Mikaela Lauren Gully Gillian Addicott Chiof ExoCiItIvo officer Roger Bone Auditor• Haines Watts Wales LLP. Slalutory Auditors 7 Neptune Court Vanguard Way Cardiff CF24 5PJ Bankèrs HSBC 56 Queen Street Cardiff CF10 2PX Stal•m•nt of truslo08' r•spon$lbllltlos The trustees {who are also the directors of Cardiff Mind Ltd for the purposes of company law) are responsible for preparing Ihe Raport of th& Truslees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Klngdom Generally Accepted Accountln9 Pracllce). Company law requires the trustees lo prepare financial statements for each financial y88r which give a true and fair view of the stale of affairs of the charitablé company and of Ihe incoming resources and application of rèsources, including th8 incom8 and 8xpènditure. of the charitable company for that period. In preparing those financial slalemenls. the trustees are required to select suitable accounting policies and then apply them consislenlly., observe the methods and principles in the Charity SORP., make judgements and estimates that are reasonable and prudent: prepare the financial statements on the going concem basis unless it is Inappropriate to presume that the charitable company viill continue in business. The tru51ees are responsible for keeping proper accounting racords which disclose with reasonable accuracy al any lime the financi81 position of the charitable company and to enable Ihem to ensure that the financial slalements comply bmlh the Companies Act 2006. They are also responsible for safeguarding the as5els of the charitable company and hence for taking reasonable steps for Ihe prevention and detection of fraud and other irregularities. In so far as the trustees are aware: there Is no relevant audit inform8ilon of whlch the charitable companys auditors are unaware,. and the Iruslees have taken all steps that they ought lo have taken to make themselves aware of any relevant audit informatior) and lo establish that the auditors are awaie of that information, Auditors The auditors, Haines Watts Wales LLP, Statutory Auditors, will be proposed for re-appointment at the forthcoming Annual General Meeling. Pa9e 10 Cardiff Mlnd Ltd Report of the Trust•es for the Year Ended 31st March 2024 This report has been prepared in accordance with the speoial provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by the board of trustees on ....... and signed on its behalf by: Philip Edwards - Trustee Page11 Report of the Independent Audllors to the Members of Cardiff Mind Ltd Opinion We hav8 audited the financial slal8menls ol Cardiff Mind Ltd (the 'charilable company'l for Ihe year ended 31 st March 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Slalement and noles lo the financial statements, including a summary of significant aexounling policies. The financial reporting framework that has b&8n applied in their preparation is applicable law and United Kingdom Accounting Standards {Uniled Kingdom Generally Accepted Accounting Practice). In our opinion the financial slatemenls= glve a true and fair view of the state of the charitable companrfs affairs as al 31 sl March 2024 and of its incoming resources and application of resources. including its incomè and expenditure. for the year then ended. have been properly prepared in accordance with Unitèd Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for oplnlon We conducted our audlt in accordance with International Standards on Auditing (UK) IISAS (UK)) and applicable law. Our iesponsibililies under thos8 standards ar8 further described in the Audrtors, responsibilities for the audit of the financial statements section of our raport. We are independent of the charilable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK. including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have oblained is sufficiént and appropriate lo provide o basis for Ouf opinion. Conclu$lons r•latlng to golng concern In auditing the financial slalemenls, we have concluded that the trustees, use of the golng concern basis of accounting in the preparatson of the financial statements is appropriate, B8sed on th8 work w8 have performed. we have not identified any material uncertainlies relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable companys ability to continue as 8 going concern for a period of at least twelve months from when the financial slalements are aulhorised for issue. Our résponsibilities and the responsibilities of the trustees with respect to going concem are described irb the relevant sections of this report. Other Inforniatlon The trustees are responsible for tho other infomallon. The other Inforrnallon compTiSe3 the Infonnation Included In the Annual Report, other than the financial stat8m8nts and our Report of the Independent Auditors thereon. Our oplnion on the financlal statements does not cover the olher information ond, except to the extent olheThvise explicitly stated In our report, we do not expr8ss any fomi of assurance conclusion ther80n. In conne¢tion with our audit of the financial statéments, our résponsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statemenls or our knowledge obtained in the audil or otherwise appears to be materially misstated. If we identify such material inconsistencies or appafenl material misslalements, v are required lo determine whether this gives rise lo a material misstatement in the financial statements themselves. If, based on Ihe work we have performed, we conclude Ihal Ihere is a material misstatement of this other Infomiatlon, are required lo report that fact. We have nothing lo report in this regard. Oplnlons on other matters pro$¢ribed by the Companles Act 2006 In our opinion, based on the work undertaken in thè cours8 of thé audil.. the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consislenl wlh the financial stalemenls. and the Report of the Trustees has been prepared in accordance with applicable legal requiremenls. Matters on whlch we are required to report by exception In the light of the knowledge and understanding of the charitable company and ils environment obtained in th8 course of the audit. we have nol identrfied material mi5Stalemenls in the Report of the Trustees. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us lo report to you if, in our opinion- adequate accounting records have not been kept or returns adequate for our audil have not been réceivèd from branches not visited by us- or the financial statements are not in agreement vwlh the accounting records and relums., or certain disclosures of trustees, remuneration specified by law are nol made-, or we have not received all the information and explanations w8 require for our audit,. or the trustees were not entitled lo take advantage of the small companies exemption from the requirement to piepare a Strategic Report or in preparing the Report of the Trustees. Page 12 Report of the Independent Auditors to the Members of Cardiff Mind Ltd Responsibilittes of trustees As explained more fully in the Slaternent of Trustees. Responsibilities. the trustees (who are also the directors of the charitable company for the purposes of company lawl are Tésponsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such intemal control as Ihe trustees determine is necessary lo enable th6 preparation of financial statements that aré free from material misslatement, whether due lo fraud or error. Iri prepariilg the finaiicial stalei'i'ii&i)1s. Ilie Iiusletlb dlt* iV¥ipuiisibl¥ fui <*l>ii¥tisiiig Ilie Lli 357,181 Analy818 of changes In n•t fund• At 1.4.23 Cash flow At 31.3.24 Not ¢•sh Cash at bank and in hand 1,363,388 {715,201) 648.187 1,363,388 (715,2011 648,187 Liquld rosources Deposits included in cash Current asset inveslm8ntg 279,104 1.647 280,751 279,104 1,647 280,751 Dèbt Debts falling due within 1 year Oebls falling due after 1 year {4,336) {340,781) (4,336) (340,7811 {345.117> (345.117) Tolal 1,642,492 {1,058,6711 583.821 The notes form part of these financial stalements Page 17 Cardiff Mind Ltd Notes to the Flnanclal Statements for the Year Ended 31st March 2024 Accountlng pollcles Basis of pr•parlng the flnancial statem•nts The financial statements of the charitable company. which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 'Accounting and Reportin9 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 20191,. Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have b88n prepared under the historical cost convention. Incomo Donations are recognised where there is entitlement. certainty of receipt and the amount can be measured wilh sufficient reliability. Revenue grants are recognised in th8 p8riod in which the expenditure lo which they relate is incurred. Where there are conditions attached lo the use of these 9rants they are credited to the Restricted Fund. All other revenue grants are included in the General Fund in unrestricted funds. Rèntal Income is based upon the weekly charge arising in the accounting period to which it relates. Deferred income represents amounts recelved for future periods and is released to incoming resources in th8 period for which. il has been received. Such income is only deferred when.. The donor specifies that the donalSon musl only be used In lulure accounling periods., or The donor has imposed conditions whlch must be mel before the charity has uncondllional 8nlitlemenl. Invoslmenl Income is recognlsed on 8 rnceivablé b8SIS. Other income is accounted for on a receivables basis. Expondlturn Liabililies are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an a¢cru8ls basis and has been classified under headings that aggregate 811 cost5 related lo the category. Charitable expondllure comprises those costs incurred by thè charity in thé délivery of its activitiès and serwces for its beneficiaries. 11 includes both costs that can be allocatgd directly lo such activities and those Costs of an indirect nature necèssary io support them. Support costs Support costs include central functions and have been allocated lo activity cost categories on a basis consistent with the use of resources, for example, allocating proporty costs by floor areas, or per capita. staff costs by the time spènt and other costs by their usage. Govern•n¢e Costs Governance costs include costs of the preparation and examination of the statutory accounts, the costs of trustee meelings 8fKI the cost of any legal advice to trustees on govemance or constituts'onal matters. Tanglble flxed assets Individual items costing £1,000 or More are initially recorded at Cost. D•pro¢lallon Depreciation is provided on tangible fixed assets so as to write the cost, less any eslimat8d residual value. over their expecled useful economic life as follows.. Office equipment Fixtures and fittings Computer equipment Property over 3 years over 3 years over 3 years over 50 years Taxation The company is a registered charity and all of ils income is primary purpose it is, therefore ex8mpt from taxation. Page 18 continued... Cardlff Mlnd Ltd Notes to the Financial Statements - contlnued for the Year Endod 31st Mareh 2024 Ac¢ounling policies - continued Fund accounting Unrestricted funds can be used in accordance wlth the Charitable obj8¢lives al the dis¢relion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arisé when specified by the donor or when funds are raised for particular reslricled purposes. Further explanation of the nature and purpose of each fund is includéd in the notes to the financial stateménts. P•n8ion costs and other post-rellr•m8nt beneflts The charity operate5 a defined contribution pension scheme. Contributions are oharged in the statement of finan¢ial aclivits'es as they become payable in accordance with the rules of Ihe scheme. Debtors, credllors and cash Current assets and liabilities. including cash held al bank are recognised at oost or valuation as at the year end. Donations and l•gacios 2024 2023 Donations 14.634 23,385 Investment Income 2024 2023 Deposit account interest 18.448 7,374 Incom• from charltable acllvltl•8 2024 2023 Activlty Local Menlal Health Grants Scheme Community Connectors SPG - received in year Tier Zero SPRG Domiciliary Care Cardiff and the Vale University Health Board Residents charges receivable Voids Nationwide Counselling fees Active Monitoring Mind Cardiff MIND wellbeing hubs MINDS cost of living fund Counselling inteNentions CCC Staffing cost Empow8mienl and support Empowerment and support Empowerment and support Empowerm8nl and support Empowerment and support Empowerment and support 231,959 149,990 275.566 265,805 231,959 184,878 198,744 192.066 68,796 134.762 117,286 Empow?￿ent and support Empow8rment and support Empowerment and support Empowement and support Empowemenl and support Empowerment and support Empowerment and support Empowerment and support Empowerment and support Empowerment and support 61,002 334,108 (71.379) 61.002 315.403 {79,1771 23,748 81.115 110.008 42.100 18.000 44,061 12.500 118,680 64,085 1,547.102 1,639.965 Page 19 continued... Cardlff Mind Lld Not•s to thè Financial Slatements - contlnued for the Year Ended 31st March 2024 Charitable activities costs Support cosls {so• not8 6) Dlre¢t Costs Totals Ernpowerrnent and support 1.620.297 136.862 1,757,159 Support costs Human resourc•s Governance costs Flnanco Totals Ernpowemi8nt and support 88,222 26,476 22,164 136,862 Support costs, included in the above, are as foll0v￿. 2024 Empow•rm•nt and Support 2023 Total actlvltl•s Wages Rent and rat8$ Bank charges Interest payabl8 and similar charges Wages Auditors, remuneration Auditors. remunerallon for non audlt work 68.237 19,745 240 26,476 11,608 4,706 5,850 67,561 13,277 6,538 11,493 4,578 7,411 136.862 110,858 N•t in¢omel{expendilurel Net incomel(expenditure> is stated after chargingl{crediting)', 2024 2023 Auditors. remuneration Olher non-audSt seNices Depreciation - owned assets 4.706 5.850 17.890 4,578 7,411 353 Trust•es' remuneratlon and beneflts There were no trusl8es' remuneration or other benefits lor the y8ar 8ndèd 31st March 2024 nor for thé year ended 31st March 2023. Truste•s' exponsos There were no trustees. expenses paid for the year ended 31 st March 2024 nor for Ihe year ended 31 sl March 2023. Page 20 ¢ontinu8d... Cardlff Mlnd Ltd Notes to the Financial Slalements - continued for the Yeai Endod 31st March 2024 Staff costs 2024 2023 Wages and salaries Social security costs Other pension costs 1,060,557 79,177 56.396 998,322 82.361 53.873 1.196,130 1,134.556 The average monthly number of employees during the y6ar was as follows: 2024 56 2023 60 Charitable activities Support staff 58 62 No employees receiv8d emoluments in excess of £60,000. During the year C8rdiff Mind Ltd pald key management gross salaries tolalling £220,777 12023.. £241.094). Key management are considered lo be 5 individuals who direclly irnpact upon the strategic direction of the charity. 10. Cornparatlves for th• •tatem•nt ol Ilnanclal actlvltl•8 Unrestricted funds R•stricted funds Total funds Income and •ndowmenl8 from Oonations and legacies 23.385 23,385 Charltabl• actlvltl•8 Empowerment and support 1,071,486 568.479 1,639.965 Inv8Stment income Other income 7.374 35,999 7,374 35,999 Total 1,138.244 568.479 1,706,723 Expendituro on Charitable actlvltles Empowemient and Support 1,035,291 596.141 1,631,432 NET INCOMEI(EXPENDITURE) 102,953 (27.662) 75,291 Recon¢iliation of funds Total funds brought forward 786.560 308.792 1.095,352 Total funds ¢arrl•d forward 889,513 281.130 1,170,643 Page 21 continued... Cardiff Mind Ltd Notes to the Financial Statements - continued for the Year Endod 31st March 2024 11. Tangible fixed assets Fixtures and fittings Freehold property Totals Cost At 1 st Aprll 2023 Additions 58.429 2,513 $8,429 841.111 838,598 At 31st March 2024 838,598 60.942 899,540 Dopr•¢latlon At 1st April 2023 Charge for year 54,220 2,572 54.220 17,890 15,318 At 31 st March 2024 15,318 56,792 72,110 Net book valu• At 31 st March 2024 823,280 4,150 827.430 At 31st March 2023 4,209 4.209 12. Debtors: amounts lalllng duo wlthln on• yoar 2024 2023 Trade deblors Othef debtors Prepayments and accrued income 44,112 1,407 13,137 22,467 154,286 18,676 58,656 195,429 13. Current ass•t inveslments 2024 2023 Monies held on deposlt 280,751 279,104 14. Cr•ditors: amount• falllng du• wlthln one y•ar 2024 2023 8ank108ns and overdrafts {see note 16) Social security and other taxes Other credilors Accruals and deferred income 4,336 19.463 4,567 421,185 21.930 24.980 624.577 449,551 671.487 Deferred Income brought lO￿ard Amounts released to incoming resources Amounts deferred in the year 606,809 (313,848) 117,442 218,615 1203.6261 591,820 Deferred income carried forward 410,403 606.809 Page 22 ¢ontinued... Cardiff Mind Ltd Not•8 to tho Finan¢lal Statèmonls - conllnued for th• Y•ar Ended 31st March 2024 15. Creditors: amounts falllng due after more than onè year 2024 2023 Bank loans (see note 16) 340.781 16. Loans An analysls of the maturity of108ns is given below.. 2024 2023 Amounts falling due within one year on demand.. Bank loans 4,336 Amounts falling between one arnd two years: Bank loans- 1-2 years 9.072 Amounts falling due betsve8n two and five years.. Bank loans - 2-5 years 21.639 Arnounts falling due in more than five years: Repayable by inslalm8nls'. Bank loans more 5 yr by inslgl 310.070 17. Leasing agreoments Minimum lease payments under non-¢ancellable operating leases fall due as follovffj: 2024 2023 Within one yèar Belween one and five y8ars 3.224 5,642 3,224 8,866 8.866 12.090 18. Movoment In funds Net mov•m•nt In funds At 31.3.24 At 1.4.23 Unr•strlclod funds General fund Building refurbishment fund 872,875 16,638 20.761 116,638) 893.636 889,513 4.123 893.636 Restricted funds Local Mental Health Grants Scheme Cardiff and the Vale Universily Health Board 216.390 64,740 (112,041) 138.033) 104,349 26,707 281.130 (150.074) 131,056 TOTAL FUNDS 1,170,643 {145.951) 1,024,692 Page 23 continued.-. Cardiff Mlnd Ltd Notes to the Finan¢lal Statements - continued for the Yèar Ended 31sl March 2024 18. Movement in funds . ¢¢)ntlnued Net movement in fvnds, included in the above are as follows.. In¢oming re8ourc•$ Rosources expended Movement in funds Unrestrictod funds General fund Building refurbishment fund 1.040,611 {1.019,850) {16.638) 20,761 {16,638) 1,040.611 (1,036.488) 4,123 Restrlcted funds Local Mental Health Grants Scheme Cardiff and the Vale University Health Board Tber Zero Active Monitoring 179,705 61,002 265,805 64.085 {291.746) {99,035) <265,805) (64,085) {112,041) (38,033) 570,597 (720.671) {150,074) TOTAL FUNDS 1,611,208 (1,757,159) {145,951) Comparatlves for movem•nt In funds movement In funds At 31.3.23 At 1.4.22 Unrestrlcted funds General fund Building refurbishment fund 734,642 51,918 121,785 118,832) 856,427 33,086 786,560 102,953 889,513 R•8trl¢ted fund8 Local Mèntal Health Grants Scheme 308,792 {27,662) 281,130 TOTAL FUNDS 1,095.352 75,291 1.170,643 Comparative net movement in funds. Included in the above are as follobvs: Incomlng resour¢es R•sourc•s expended Mov•mont in funds Unrostrlct•d funds General fund Buildin9 refurbishment fund 1,138,244 {1.016,459) 118,832) 121,785 118,832) 1,138,244 (1,035,291) 102,953 Reslrlcted funds Local Mental Héalth Grants Scheme Tier Zero Active Monitoring Nationwide Community Grant 242.657 192,066 110.008 23,748 (270,319) (192,066) (110,008) 123,748> <27,662) 568.479 (596.141) 127.662) TOTAL FUNDS 1.706,723 {1,631.432J 75.291 Page 24 ntinued... Cardiff Mind Ltd Not9$ to the Financlal Statements - continued fr>r th• Y•ar Ended 31st March 2024 Movement in funds - continued Unreslricled income funds are general funds that are available lor use at the truslees, discretion in furtherance ol lh8 objectives of the charity. The building refurbishment designated fund has been crealed by the Trusteès to COV8r the pot8ntlal costs of remedial works to the property occupied by the charity in thé coming years. Local Mental Health Grants Scheme - the scheme is administered by Cardiff and the Vale Univ8rsty Health Board. Part of thi5 funding 1$ for Core Services and Integrated Day Services. The other part of the funding is lo provide people with support in re-èngaging with the cornmunily. This is complelad by providing; a safe space, social ¢onlacl. information and advice, vocational assessmenvplanning, volunteering opportunities. a wide range of pre-vocalional trainin9 and links into a host of community resources. Cardiff and the Vale Universlty Heafth Board - The funding is provided to secure for the residents of Cardiff the provision of specified heallhcare by contributing towards the core costs of the Integraled Day Se￿ICeS. In particular, the seryice should provide., an Outreach Service. a free couns811ing s8Thice, support groups, training to other organi581ions, information on olh8r agenci8s and sources of support and a list ol counsellors and therapists. rier Zero is a three year contract with the University Health Board to provide CCI support for individuals within GP Practices In the SE Cluster Group of Cardiff. Active Monitorin9 is a scheme to provide support in Iln8 Wlth GP referrals to support those in need with rnental health support. Nationwide Community grant is a two year schème to help people inlo a home or support people to thrive within the home environment. 19. Employ•• b•n•flt •bllgatlons The charity operates a defined contribution scheme. The pension costs charge for the year represents contributions payable by the Charity to the scheme and amounted lo £56,396 (2023: £53.8731. 20. R•l•t•d party dlsclosur•s There were no related party transactions for the year ended 31st March 2024. 21. M•mb•rs' Ilabllity The charily is a pnvate company limited by guarantee and con5equ8nlly does not have share capltal. Each ol the members is liable to contribute an amount not exceedlng £1 towards the assets of the charity in the evenl of Ilquldalion. Page 25