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2025-03-31-accounts

REGISTERED COMPANY NUMBER: 02803045 (England and Wales) REGISTERED CHARITY NUMBER: 1020633

Report of the Trustees and

Audited Financial Statements for the Year Ended 31 March 2025

for

Cardiff Mind Ltd

Cardiff Mind Ltd

Contents of the Financial Statements for the Year Ended 31 March 2025

Page
Report of the Trustees 1 to 11
Report of the Independent Auditors 12 to 13
Statement of Financial Activities 14
Balance Sheet 15
Cash Flow Statement 16
Notes to the Cash Flow Statement 17
Notes to the Financial Statements 18 to 26
Detailed Statement of Financial Activities 27 to 28

Cardiff Mind Ltd

Report of the Trustees for the Year Ended 31 March 2025

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of 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

Mission

"Cardiff Mind promotes positive emotional wellbeing through empowering and supporting people to 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 2023 to reflect the fact that the organisation sees itself as assisting individuals to develop their own pathways to mental wellbeing.

Cardiff Mind has also adopted a statement of Organisational Values that influence the way in which its staff, volunteers and Management Committee work. In addition, its values influence the aims and objectives of the organisation.

Cardiff Mind will recognise that everyone's personal experience of mental health has significance to them and should be recognised and respected as a valid experience for that individual.

Cardiff Mind will work with people 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 responsibilities and particularly their aspirations.

Cardiff Mind will recognise and value difference, promote inclusion and equality of opportunity in all its work and will seek to remove obstacles that prevent individuals from fully participating in its activities.

Cardiff Mind will actively challenge discrimination and stigma wherever it is encountered and will promote the rights and responsibilities of individuals.

Cardiff Mind will welcome and actively encourage full participation by people who access our services to effect development and evaluation of services and the organisation

Cardiff Mind believes everyone should have the opportunity to be heard and will encourage 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 been categorised by a medical diagnosis of "severe and enduring mental health problems" - we wish to support everyone who has or has had mental health issues.

Objects of the Charity

To promote the preservation of mental health in association with Mind (the National Association for Mental Health) and in accordance with the aims and objectives of Mind.

Activities

Cardiff Mind is a Limited Company with charitable objectives whose aim is to provide a range of community based services for people with mental health problems. The services currently provided include supported accommodation, tenant support in their own homes, self management groups, counselling individual planning, self help and support groups.

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Cardiff Mind Ltd

Report of the Trustees for the Year Ended 31 March 2025

Objectives and activities

Aim 1

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.

Objectives Objectives Objectives
1. Maintain and improve a case-work approach for individual service users.
2. Discuss and plan with consumers ways in which they can improve their mental health and wellbeing by
accessing support and advice from Cardiff Mind and other agencies to overcome obstacles that prevent them
from achieving their potential.
3. Deliver services in a way that best suits the communication preferences of people who use our services.
4. Use opportunities to evidence and celebrate the improvements that people make in their own lives.
Aim 2
To develop new services that enable the consumer to remain within or return to their local community of choice.
Objectives
1. Actively seek to work with customers to develop new service models for accommodation and support
2. Extend beyond current 18-65 client group by responding to requirements for age appropriate services
3. Extend outreach/satellite operations into other geographical areas of Cardiff and South Wales
Aim 3
To provide high quality services that evidence positive outcomes and value for money.
Objectives
1. Seek and attain externally recognised quality standards and hallmarks and embed those processes within the
activities of the organisation
2. Utilise outcome-related performance monitoring systems that capture the progress made by individual service
users.
3. Continue to develop a workforce that is qualified and competent to take advantage of the potential for service
development.
Aim 4
To increase awareness and understanding of mental health issues and to challenge stigma and discrimination.
Objectives
1. Take advantage of the opportunities that come about for mental health and well-being promotion - particularly
in the workplace and educational establishments
2. Provide training, advice and support to mainstream organisations to ensure that people with mental health
issues are able to access work, leisure, educational and recreational opportunities
3. Actively participate in opportunities to campaign and influence at a local and national level

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Cardiff Mind Ltd

Report of the Trustees for the Year Ended 31 March 2025

Objectives and activities

Aim 5

To work in partnership with individuals, funders and service providers to ensure that the National Service Framework becomes a reality for people experiencing difficulties with their mental health.

Objectives

  1. Participate in a joined up solution for people experiencing difficulties with their mental health in Cardiff

  2. Work collaboratively with voluntary sector partners particularly with Mind in the Vale to develop equality of access to opportunities for consumers throughout the UHB area.

  3. Ensure that all services 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 although is able to provide telephone advice and information/signposting to a wider catchment area. It works with anyone who has or has experienced difficulties with their mental health together with their families and carers.

It endeavours to be an inclusive service to all citizens in accordance with its Equal Opportunities Policy. Specific service provision is very often restricted by the requirements of funders but Cardiff Mind is committed to helping people achieve the best possible outcomes in their lives. In the year we have developed partnerships with employers and other organisations as part of a more general strategy of supporting mental health and wellbeing within the community. The Memorandum and Articles provide for the area of benefit to include the whole of the Principality but hitherto activities have been restricted by the conditions of funders and also the Mind Membership Agreement. As part of a review of the Membership Agreement it seems likely that these geographical restrictions will be relaxed in future and there will be a greater emphasis on partnership working within the network

Public benefit

We review our aims, objectives and activities each year. This review looks at what we achieved and the outcomes of our work in the previous twelve months. The review looks at the success of each key activity to provide a range of community-based services for people with mental health problems. The review also helps us ensure our aims, objectives and activities remained focused on our stated objectives. We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities thus ensuring that it continues in its purpose to promote positive wellbeing through empowering and supporting people to access opportunities to give them independence and quality of life.

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Cardiff Mind Ltd

Report of the Trustees for the Year Ended 31 March 2025

Objectives and activities

Report of main activities

Cardiff Mind has premises in the east of the City Centre where it offers a range of support services to people in Cardiff who have or are recovering from mental health problems. It also undertakes outreach work in other parts of the City via the Floating Support Service.

The Organisation is currently structured into 2 service provision teams and an administrative core.

The service provision teams are:

Accommodation Support Housing

Supported Housing

Working in partnership with Housing Associations and Cardiff City Council, Cardiff Mind provides 26 bed spaces in shared houses and flats. The accommodation is provided with support between 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 to live successfully in the community. In 2023/24 we entered into a partnership with Cardiff & Vale UHB to assist those in hospital to move back into the community with support. The UHB now has sole nomination rights.

It is important to emphasise that the service is not intended to provide a home for life but rather to work with the tenant to build up the skills and confidence that will enable them to have a home of their own.

The organisation has sharpened up the individual support plans to better equip individuals to achieve greater independence while acknowledging that there are some who will always require support. There are also continuing plans to review and wherever possible improve the quality of the accommodation provided thereby building upon the progress of the last year.

Floating Support - Supporting people in their own homes

Working in partnership again with Cardiff City Council a team of support staff provides support to people with mental health problems living in their own homes. The aim of the support is to offer assistance with tenancy and related areas to facilitate successful community living. Some of the service users have moved from Cardiff Mind's more intensively supported schemes.

The service is funded to provide 9 whole time 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 deliver longer term support as part of a care plan under unified assessment arrangements. The volume of work generated 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 consequently are somewhat vulnerable. That said, there is a growing body of evidence to support the view that the service provides a cost-effective solution to sustaining people in their own homes thereby avoiding hospitalisation or assisting in earlier discharge from hospital.

Due to financial constraints the Council has been forced to prioritise service users who are in need of personal care rather than those who require a preventative service. The early indications are that domiciliary support will suffer in the medium term.

We also provide support to a number of individuals who have the resources available to make their own support arrangements as they do not access local authority financial support.

The service is regulated by Care Inspectorate Wales.

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Cardiff Mind Ltd

Report of the Trustees for the Year Ended 31 March 2025

Objectives and activities

Individualised Planning / Day Services

Prior to any service user entering the service they are invited to meet a member of the Planning Team to discuss their personal circumstances and issues affecting their lives. This Initial Assessment ensures that people do not simply drift into a particular service but do so on the basis of an informed choice and knowing how their attendance will be of benefit to improving their life. More importantly this total review process enables us to jointly consider what other solutions may be available to resolve other issues in their lives and provides an opportunity to receive specific assistance in accessing these. 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.

CCIs

During the Course of 2019 we introduced as part of the requirements of a new 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 Service. There are a number of study modules that can be undertaken to enable the service user to better understand their condition, potential root causes and how to develop coping strategies. These modules are underpinned by Cognitive Behavioural Therapy Principles during the initial assessment phase we work together to develop a personal plan.

Active Monitoring/Supported Self Help

This offering was originally developed and funded via Mind/Mind Cymru and its funding came to an end in 2023/24. It covers many of the areas contained within the CCI suite but is less onerous in terms of time commitment. It is offered as a complimentary alternative to CCIs for those accessing services outside of the Mind Cymru referral pathway.

Counselling

We offer a free counselling service to women and men who cannot afford to pay for a private 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 see 80 individuals per week for up to a 16 week period in each case. The service has 50 person centred counsellors.

We also provide a fee-paying service for service users who are able and willing to make a financial contribution to receive a service from a professionally qualified sessional staff member. This service runs in parallel to the free service and people are given a clear choice between the free NHS funded service and the fee-paying one.

In response to the needs of service users we have also developed a service that can counsel couples. This can be as part of the free or fee-paying routes.

Group Activities

Our Group Activities were cancelled as a result of COVID restrictions and although our Wednesday Art Group has resumed, there seems to be little appetite for the resumption of the others.

As part of our Tier Zero work we provide Group Training in ACT and Stress Control within the wider Community.

Tier Zero

We currently provide Tier Zero t to all GP practices covering Cardiff. Patients are referred to us by the surgeries and are assessed for CCI/Supported Self-help provision.

Community Connectors

We were awarded the Community Connectors Pilot Project which runs for 2 years from May/June 2021. This service was extended until 31st March 2024. It is not a Mental Health service per se but rather is designed to assist hard-to-reach groups access opportunities within their local community.

External partnerships

As part of our strategy to develop new revenue streams ,we provide external training to a variety of other organisations to increase awareness of mental health issues in the wider community. We provide such courses as mental health 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 workplace has moved significantly up the employer agenda.

We have also a developed a service that supports individual employees as part of a response to personal issues they may be experiencing and on occasions traumatic incidents affecting larger groups within a workforce.

Latterly we have been able to maximise our reputation and have been delivery partners for Employment Projects and latterly with Cardiff Council to provide Mental Health Support to staff and tenants in its Housing Service.

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Cardiff Mind Ltd

Report of the Trustees for the Year Ended 31 March 2025

Achievements and performance

Charitable activities

Our initial response to the pandemic was to continue to provide our services as long as was possible. This was of course subject to government guidelines and the availability of staff/skills. This approach undoubtedly raised our profile with Commissioners and increased our reputation as consistent and committed partners.

This involved changing the way we work particularly in Day Services where we had 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 Service remotely, this required an additional module for students to be completed and also temporary guidelines from the BACP to approve the temporary new way of working.

This approach has borne fruit as we have been able to maximise opportunities accruing from Active Monitoring in which we operated our flexible staffing approach to exceed all our initial targets 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 strong position to 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 2021/22 to having all 6 Cardiff Clusters.

The award of the Community Connectors Contract has required us to accommodate a new staff team within the building. This initially was achieved by utilising rooms previously used for face to face counselling. However, the lessening of COVID restrictions meant that the colleges wished us to resume face to face working. Fortunately, we were able to acquire a building to lease within our current curtilage and we have been able to turn this into a Counselling venue.

The Landlord of our Office and Coach House which were the basses for service delivery indicated that the properties would be sold and as a result we would be left potentially homeless or at best subject to s new Landlord. We had already built up a significant amount of Reserves and were therefore in a position to purchase the Properties with the assistance of a 50% mortgage from the Charity Bank. This was successfully delivered in 2023/24 and it was decided to utilize the provision in Reserves for remedial work on the cessation of the Lease to reroof the buildings. We were therefore able to utilize our strong cash position to acquire a Fixed asset from which to deliver services and retain something which undoubtedly has an appreciating development value in future.

We had previously anticipated the cessation of our Accommodation Support Service as the Council had indicated its intention to decommission, The service was in the throes of being wound down, but at the 11th hour we were approached by the UHB to develop a service utilsing the properties to enable hospital patients to be supported on a pathway towards integration into the community. This was very much a pilot project but the Management Committee felt that it was worth pursuing. As with any new development there were costs such as refurbishment and loss of income as a result of voids. We were however able to utilise our reserves to meet this expenditure by way of sums designated for Operating 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 2024/25. Although the project does not necessarily assume the generation of a significant surplus it does make an important contribution to our overheads.

Financial review

Results

The Charity made an overall deficit of £62,733 (2024: £145,951) This decreased the Charity's level of reserves from £1,024,692 in 2024 to £961,959 as at 31 March 2025. The amount of these reserves attributable to unrestricted reserves at that date was £732,674 and £229,285 being attributable to restricted reserves.

Investment policy and objectives

The Charity has extensive investment powers under its Memorandum of Association restricted only by its charitable objects, prevailing legislation and the fiduciary duty placed on its Trustees.

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Cardiff Mind Ltd

Report of the Trustees for the Year Ended 31 March 2025

Financial review

Reserves policy

The Trustees of Cardiff Mind recognise the need to hold reserves to ensure funds are available to provide a range of community-based services for people with mental health problems should the income levels fall. If one or more projects cease, the financial burden on those remaining will be greater as their share of central services will rise.

Reserves are 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 its ability to deliver services to its beneficiaries will be dependent on it being a modern organisation maximising the benefits of IT and delivering services through a highly trained and competent workforce.

A minimum level of reserves needs to be retained to ensure the Trustees can operate their exit strategy and meet its legal 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 reserve requirements and have invested some of the cash at bank balances to generate higher levels of income from interest than are ordinarily available from a current or even deposit account.

The Charity is dependent upon receipt of Support People Revenue Grant, a contract with the Cardiff and the Vale University Health Board and Grants previously administered by the Wales Council for Voluntary Action and now by the UHB together with other income from donations, external training and private counselling. The current economic climate is uncertain and the threat of Central Government 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 to the organisation. Based on this analysis, the trustees have developed a reserves policy and have calculated that the charity needs to hold £490,000 in reserves to manage cash flow, continuity and liability risks as well as any emergency expenditure and monies for expansion of services.

Our current potential liabilities excluding amounts that would not be covered by elements of our restricted reserves are as follows:

Building improvements - £150,000 Redundancy Liability - £90,000 Operating Costs - £100,000 Services Support - £100,000 Emergencies - £50,000 Total - £490,000

The level of available reserves, i.e. the total unrestricted reserves less amounts invested in fixed assets, adjusted for mortgage loans, amounted to £411,324 represents 23% of total expenditure, on the assumption that the Charity wanted to maintain all its current level of services with no restricted fund income.

The Trustees are committed to maintaining current service levels for as long as the funding permits. Increases in salaries will be dependent upon the level of future income streams.

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Cardiff Mind Ltd

Report of the Trustees for the Year Ended 31 March 2025

Future plans

As has been stated above, the partnership with the UHB to have full nomination rights for our supported housing was established as a pilot project. The success in 2023/24 generates a degree of optimism that the new arrangements will be continued and formalized by a direct contract with the UHB rather than the intermediary involvements of the Council. Indeed, it is hoped that the service model might be expanded or adapted to suit the support requirements of other patients.

The fact that both Day Services and Tier Zero deliver both CCI and SSH as core provision offers opportunities to have a combined team of practitioners. This was one of our strengths during the pandemic and there is an opportunity to better manage workload but also provide a greater consistency of approach by amalgamation under a single manager. This is a benefit of the cessation of the Reporting requirements of the Mind Cymru Service which ceased on 31st March 3024. Although the Service received resources the requirements were somewhat onerous and it gives us an opportunity to work differently and generate cost savings.

Our future plans therefore are primarily ones of emphasis on service delivery more efficiently and effectively with a concentration on front line worker capacity to minimize waiting times. This is primarily driven by the need to be able to evidence performance levels for when the re-tendering by the UHB takes place. Although the UHB has an option to extend the contract for a further 2 years, we have to plan for a retendering to become effective from 2025/26.

We are delighted to highlight an ever-strengthening partnership approach with Mind in the Vale who assisted us with the development of the Tier Zero contract but perhaps more importantly has enabled us 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 the area have access to a full range of services delivered to Mind values and see the future as being one of increasing collaboration.

The Domiciliary Support Service continues to inhabit a very insecure environment with the former CCHA Contract being decommissioned and replaced by a pilot Hoarding Service. On a positive note there is a realistic prospect that there will be increased opportunities for the service from the new way of working and the plans envisage the retention of our flats and hopefully the continuation of the revenue attached thereto.

Once again, the Trustees have agreed a deficit budget for 2024/25 hopeful that we will continue to manage our voids efficiently and that the call on reserves will be less than planned. It is also important to note that having evaluated the reserve levels required to meet liabilities and business continuity needs and met those basic requirements the Trustees are of the view that excess resources should be deployed in such a manner as to secure better services for people experiencing mental health issues, rather than simply storing them for future use. The deficit budget is very much in line with the previously successful strategy to maintain capacity to maximise opportunities.

Over the last few years our Reserves have grown massively. The reserve/spend ratio will remain strong and funders will legitimately ask "why are your Reserves so high and what do you intend to do with them?". We have moved from a current assets based organisation into a mixed one following the purchase of our building this has also given us a greater degree of control over our location. It appeared to be a sound strategy to firmly establish our presence and commitment and provide a useful investment in the medium term. This would also evidence our continuing commitment to our service and its beneficiaries within the City and County of Cardiff.

Of course, recent experience has taught us that circumstances can change massively - the Pandemic was a classic example. However, we can evidence that via our robust Contingency and Business Continuity processes we can respond nimbly and indeed have been able to turn what could have so easily been a disaster into an opportunity to strengthen our position. This has been driven by our fundamental ethos of supporting our client group and working alongside Statutory and Voluntary Sector partners to improve the lives of Cardiff citizens who are experiencing mental health issues.

Structure, governance and management

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The Charity is a Limited Company (registration number 2803045) and is governed by its Memorandum and Articles of Association. Cardiff Mind is also registered with the Charity Commissioners Number 1020633.

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Cardiff Mind Ltd

Report of the Trustees for the Year Ended 31 March 2025

Structure, governance and management

Trustee appointment, induction and training

The Charity Trustees are the people who are legally responsible for the overall management and decision making in a charity. As a larger Charity, staff carry out the work of the charity and the Trustees are responsible for monitoring and controlling their activities. The Trustees are also Directors for the purposes of the Companies Act.

The Trustees are elected each year by the members of the Company at the Company's Annual General Meeting and form the Company's Management Committee. The Committee also has designated members who carry out the roles of Chair, Vice-Chair and Treasurer these too are elected at the Annual General Meeting.

There can be up to 12 Trustees, a minimum of 2 must be users of the service, a further 2 people may be co-opted to serve on the Committee.

Prior 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 interested in serving are invited to meet with the Chief Executive to discuss the role in greater detail and also what skills need to be acquired for the individual to actively and effectively contribute. This would then form the basis of an individual development/induction plan.

Following the Annual General Meeting the Management Committee would consider its new composition and skill mix and would redress any shortcomings via advertisement and initial co-option of interested persons. The process of informal discussion with the Chief Executive is similar as is the identification of personal development issues. Prior to co-option the would-be Management Committee Member is invited to attend a couple of Management Committee Meetings as an observer prior to becoming a co-opted member.

Corporate governance

The Organisation is managed by a voluntary Management Committee whose role is to set the overall objectives for Cardiff Mind and to ensure that the organisation is keeping within its legal and moral obligations. The Management Committee holds the 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 experience. There are some members who can provide a service user perspective. As at the end of the Financial Year three of the Management Committee brought such a perspective with personal experience of the complete range of services provided. This represents a significant proportion of the Committee.

The Committee meets formally every three months and more frequently if operational or governance issues require. As part of the Business Planning exercise the Committee reviewed the skill mix available and increased its base by advertising for new Committee members. The response attracted some high calibre candidates and will be reviewed on an annual basis.

The Management Committee is 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 adopted a number of key policy initiatives designed to improve Corporate Governance and organisational performance. These arrangements are externally reviewed by funders and also have been scrutinised under the Mind Quality Mark Framework in 2013/14, with the highest level of accreditation being awarded. The policies themselves are subject to Annual Review in general and a specific detailed review programme to ensure that they remain fit for purpose. We were reviewed under the MQM framework in June 2023.

Related parties

There are no related party transactions.

Reference and administrative details Registered Company number

02803045 (England and Wales)

Registered Charity number 1020633

Registered office

166 Newport Road Cardiff CF24 1DL

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Cardiff Mind Ltd

Report of the Trustees for the Year Ended 31 March 2025

Trustees

Philip Edwards - Chair Julie Anne Dawson Lee Lanciotti - Vice Chair Neil Fulton - Treasurer (resigned 29.6.25) Jacqueline Mary Jones (resigned 1.11.24) Mikaela Lauren Gully (resigned 31.12.24) Gillian Addicott (resigned 31.12.24) Kristy Maloney (appointed 7.11.24)

Chief Executive officer

Roger Bone (resigned 30.06.25) James Padbury (Joint, appointed 01.07.25) Ellyn Pascoe (Joint, appointed 01.0725)

Auditors

Menzies LLP, Statutory Auditors 5th Floor Hodge House 114-116 St Mary Street Cardiff CF10 1DY

Bankers

HSBC 56 Queen Street Cardiff CF10 2PX

Statement of trustees' responsibilities

The trustees (who are also the directors of Cardiff Mind Ltd for the purposes of company law) are responsible for preparing the Report of the Trustees 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. Under that law, the trustees 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 trustees 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

Auditors

The auditors, Menzies LLP, Statutory Auditors, will be proposed for re-appointment at the forthcoming Annual General Meeting.

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Cardiff Mind Ltd

Report of the Trustees for the Year Ended 31 March 2025

This report has been prepared in accordance with the special 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

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Report of the Independent Auditors to the Members of Cardiff Mind Ltd

Opinion

We have audited the financial statements of Cardiff Mind Ltd (the 'charitable company') for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable 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 obtained is sufficient and appropriate to provide a basis for our opinion.

Material uncertainty related to going concern

We draw attention to note 1, 'Going concern', in the financial statements, which discusses the challenges the charity is currently facing and considers its viable next steps to allow it to continue meeting the mental health needs of people in Cardiff in the future. The current position indicates that, whilst there are options available to the charity, a material uncertainty does exist that may cast significant doubt on the charity's ability to continue as a going concern. Our opinion is not modified in respect of this matter.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

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Report of the Independent Auditors to the Members of Cardiff Mind Ltd

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our planning procedures identify the legal and regulatory frameworks applicable to the operations and financial statements of the company. These are reviewed internally with the audit team including relevant industry experience and expectations as well as externally with the client management. The key laws and regulations we considered in this context were the UK Companies Act 2006, Charities SORP (FRS 102) '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', UK GAAP (FRS 102) and relevant tax legislation.

Once identified, we assess the risks of material misstatements in relation to the laws and regulations, irregularities,including fraud and adjust our testing accordingly. Our audit procedures include:

Despite the audit being planned and conducted in accordance with ISAs (UK) there remains an unavoidable risk that material misstatements in the financial statements may not be detected owing to inherent limitations of the audit, and that by their very nature, any such instances of fraud or irregularities likely involve collusion, forgery, intentional misrepresentation, or the override of internal controls.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Clive Edwards (Senior Statutory Auditor) for and on behalf of Menzies LLP, Statutory Auditors 5th Floor Hodge House 114-116 St Mary Street Cardiff CF10 1DY

Date: .............................................

Page 13

Cardiff Mind Ltd

Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 March 2025

Notes
Income and endowments from
Donations and legacies
2
Charitable activities
4
Empowerment and support
Investment income
3
Other income
Total
Expenditure on
Charitable activities
5
Empowerment and support
NET INCOME/(EXPENDITURE)
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
£
12,927
1,053,528
11,977
27,951
1,106,383
1,267,345
(160,962)
893,636
732,674		 Restricted
funds
£
-
506,511
-
-
506,511
408,282
98,229
131,056
229,285		 2025
Total
funds
£
12,927
1,560,039
11,977
27,951
1,612,894
1,675,627
(62,733)
1,024,692
961,959		 2024
Total
funds
£
14,634
1,547,102
18,448
31,024
1,611,208
1,757,159
(145,951)
1,170,643
1,024,692

The notes form part of these financial statements

Page 14

Cardiff Mind Ltd

Balance Sheet 31 March 2025

Notes
Fixed assets
Tangible assets
11
Current assets
Debtors
12
Investments
13
Cash at bank and in hand
Creditors
Amounts falling due within one year
14
Net current assets
Total assets less current liabilities
Creditors
Amounts falling due after more than one year
15
NET ASSETS
Funds
18
Unrestricted funds
Restricted funds
Total funds		 Unrestricted
funds
£
808,016
92,864
149,681
64,105
306,650
(46,773)
259,877
1,067,893
(335,219)
732,674		 Restricted
funds
£
-
-
132,726
96,559
229,285
-
229,285
229,285
-
229,285		 2025
Total
funds
£
808,016
92,864
282,407
160,664
535,935
(46,773)
489,162
1,297,178
(335,219)
961,959
732,674
229,285
961,959		 2024
Total
funds
£
827,430
58,656
280,751
648,187
987,594
(449,551)
538,043
1,365,473
(340,781)
1,024,692
893,636
131,056
1,024,692

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

............................................. Philip Edwards - Trustee

The notes form part of these financial statements

Page 15

Cardiff Mind Ltd

Cash Flow Statement for the Year Ended 31 March 2025

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash used in operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Investment interest received
Net cash provided by/(used in) investing activities
Cash flows from financing activities
New loans in year
Loan repayments in year
Interest paid
Net cash (used in)/provided by financing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2025
£
(495,033)
(495,033)
-
10,321
1,656
11,977
-
(33,963)
29,496
(4,467)
(487,523)
648,187
160,664		 2024
£
(365,756)
(365,756)
(714,657)
18,448
1,647
(694,562)
350,000
(31,359)
26,476
345,117
(715,201)
1,363,388
648,187

The notes form part of these financial statements

Page 16

Cardiff Mind Ltd

Notes to the Cash Flow Statement for the Year Ended 31 March 2025

1. Reconciliation of net expenditure to net cash flow from operating activities Reconciliation of net expenditure to net cash flow from operating activities
2025 2024
£ £
Net expenditure for the reporting period (as per the Statement of
Financial Activities) (62,733) (145,951)
Adjustments for:
Depreciation charges 19,414 17,890
Interest received (10,321) (18,448)
Investment interest received (1,656) -
(Increase)/decrease in debtors (35,864) 7,025
Decrease in creditors (403,873) (226,272)
Net cash used in operations (495,033) (365,756)
2. Analysis of changes in net funds
At 1.4.24 Cash flow At 31.3.25
£ £ £
Net cash
Cash at bank and in hand 648,187 (487,523) 160,664
648,187 (487,523) 160,664
Liquid resources
Deposits included in cash		 - - -
Current asset investments 280,751 1,656 282,407
280,751 1,656 282,407
Debt
Debts falling due within 1 year		 (4,336) (1,095) (5,431)
Debts falling due after 1 year (340,781) 5,562 (335,219)
(345,117) 4,467 (340,650)
Total 583,821 (481,400) 102,421

The notes form part of these financial statements

Page 17

Cardiff Mind Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

1. Accounting policies

Basis of preparing the financial statements

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 (FRS 102) '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)', 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 been prepared under the historical cost convention.

Going Concern

Over the past two years Cardiff Mind has faced sustained financial pressure, resulting in deficits in both the current and comparative periods, having previously reported a surplus each year since 2019. This position has been significantly worsened by the loss of major funding streams, including the discontinuation of Community Opportunities funding and the Tier Zero project by the University Health Board. As a result, the organisation has had to undertake substantial restructuring and redundancies, alongside leaving vacant posts unfilled in order to reduce monthly overspend. These decisions, largely shaped under the previous CEO, have resulted in a much smaller organisation operating in an increasingly challenging funding environment.

Despite these difficulties, there are clear grounds for cautious optimism. Several services continue to perform strongly: the Floating Support Team has been rated “excellent”, Supported Accommodation generates a surplus that contributes positively to overall finances, and paid counselling income has grown by almost 58% between April and November. In parallel, Cardiff Mind has submitted bids for Tier Zero and CAPS funding, is exploring funding support to reinstate the Free Counselling Service, and has begun rebuilding strategic relationships with the University Health Board, National Mind, Mind Cymru and the wider Mind Federation. Given the scale of ongoing risk, a merger with a neighbouring Local Mind is being actively explored as the most viable route to long-term sustainability, enabling shared functions, efficiencies and resilience.

To address the immediate financial position, a range of savings options are being presented to the Board across Floating Support, Counselling and Core services. These include limited reductions in staffing where unavoidable, restructuring of management roles, reductions in central and support posts, review of non-staff contracts, and significant changes to premises usage. In particular, the proposed sale of the Head Office/Coach House could release in excess of £350k in equity (subject to final sale price), while alternative rented or shared premises are expected to be achievable at comparable cost. Even with restructuring, however, achieving breakeven will likely require a combination of staffing changes, premises savings, and progress toward merger.

Overall, while Cardiff Mind continues to face serious financial challenges, it retains viable options. With decisive action, careful management of service quality and strategic collaboration, potentially through merge, the organisation has a realistic opportunity to stabilise, become more efficient, and emerge better positioned to meet the mental health needs of people in Cardiff in the years ahead.

Income

Donations are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability.

Revenue grants are recognised in the period in which the expenditure to which they relate is incurred. Where there are conditions attached to the use of these grants they are credited to the Restricted Fund. All other revenue grants are included in the General Fund in unrestricted funds.

Rental income is based upon the weekly charge arising in the accounting period to which it relates.

Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when:

Investment income is recognised on a receivable basis.

Other income is accounted for on a receivables basis.

Expenditure

Liabilities 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 accruals basis and has been classified under headings that aggregate all costs related to the category.

Page 18

continued...

Cardiff Mind Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

1. Accounting policies - continued

Expenditure

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Governance costs

Governance costs include costs of the preparation and examination of the statutory accounts, the costs of trustee meetings and the cost of any legal advice to trustees on governance or constitutional matters.

Tangible fixed assets

Individual items costing £1,000 or more are initially recorded at cost.

Depreciation

Depreciation is provided on tangible fixed assets so as to write the cost, less any estimated residual value, over their expected useful economic life as follows:

Office equipment over 3 years Fixtures and fittings over 3 years Computer equipment over 3 years Property over 50 years

Taxation

The company is a registered charity and all of its income is primary purpose it is, therefore exempt from taxation.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charity operates a defined contribution pension scheme. Contributions are charged in the statement of financial activities as they become payable in accordance with the rules of the scheme.

Debtors, creditors and cash

Current assets and liabilities, including cash held at bank are recognised at cost or valuation as at the year end.

2. Donations and legacies

3.

2025 2024
£ £
Donations 12,927 14,634
Investment income
2025 2024
£ £
Deposit account interest 11,977 18,448

Page 19

continued...

Cardiff Mind Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

4. Income from charitable activities

4.
Income from charitable activities
Activity
Local Mental Health Grants
Scheme
Empowerment and support
Community Connectors
Empowerment and support
SPG - received in year
Empowerment and support
Tier Zero
Empowerment and support
SPRG
Empowerment and support
Domiciliary Care
Empowerment and support
Cardiff and the Vale
University Health Board
Empowerment and support
Residents charges receivable
Empowerment and support
Voids
Empowerment and support
CAP SERVICE
Empowerment and support
Council Hubs
Empowerment and support
Counselling fees
Empowerment and support
Active Monitoring Mind
Empowerment and support
Other Grants
Empowerment and support
5.
Charitable activities costs
Empowerment and support
6.
Support costs
Finance
£
Empowerment and support
90,209
Support costs, included in the above, are as follows:
Wages
Rent and rates
Bank charges
Interest payable and similar charges
Wages
Auditors' remuneration
Auditors' remuneration for non audit work		 Direct
Costs
£
1,530,143
Human
resources
£
29,496		 2025
£
231,959
90,000
214,264
265,805
72,825
117,751
79,631
324,858
(52,817)
15,833
30,000
129,930
-
40,000
1,560,039
Support
costs (see
note 6)
£
145,484
Governance
costs
£
25,779
2025
Empowerment
and
support
£
68,919
21,125
165
29,496
11,724
5,025
9,030
145,484		 2024
£
231,959
149,990
275,566
265,805
-
117,286
61,002
334,108
(71,379)
-
-
118,680
64,085
-
1,547,102
Totals
£
1,675,627
Totals
£
145,484
2024
Total
activities
£
68,237
19,745
240
26,476
11,608
4,706
5,850
136,862

Page 20

continued...

Cardiff Mind Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

7. Net income/(expenditure)

Net income/(expenditure) is stated after charging/(crediting):

2025 2024
£ £
Auditors' remuneration 5,025 4,706
Other non-audit services 9,030 5,850
Depreciation - owned assets 19,414 17,890

8. Trustees' remuneration and benefits

There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.

9. Staff costs

Staff costs
Wages and salaries
Social security costs
Other pension costs		 2025
£
1,036,650
77,090
54,265
1,168,005		 2024
£
1,060,557
79,177
56,396
1,196,130

The average monthly number of employees during the year was as follows:

Charitable activities
Support staff		 2025
49
6
55		 2024
56
2
58

No employees received emoluments in excess of £60,000.

During the year Cardiff Mind Ltd paid key management gross salaries totalling £267,651 (2024: £220,777). Key management are considered to be 6 individuals who directly impact upon the strategic direction of the charity.

10. Comparatives for the statement of financial activities

Income and endowments from
Donations and legacies
Charitable activities
Empowerment and support
Investment income
Other income
Total
Expenditure on
Charitable activities
Empowerment and support
NET INCOME/(EXPENDITURE)		 Unrestricted
funds
£
14,634
976,505
18,448
31,024
1,040,611
1,036,488
4,123		 Restricted
funds
£
-
570,597
-
-
570,597
720,671
(150,074)		 Total
funds
£
14,634
1,547,102
18,448
31,024
1,611,208
1,757,159
(145,951)

Page 21

continued...

Cardiff Mind Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

10. Comparatives for the statement of financial activities - continued

Reconciliation of funds
Total funds brought forward
Total funds carried forward
11.
Tangible fixed assets
Cost
At 1 April 2024 and 31 March 2025
Depreciation
At 1 April 2024
Charge for year
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024
12.
Debtors: amounts falling due within one year
Trade debtors
Other debtors
Prepayments and accrued income
13.
Current asset investments
Monies held on deposit		 Unrestricted
funds
£
889,513
893,636
Freehold
property
£
838,598
15,318
16,772
32,090
806,508
823,280		 Restricted
funds
£
281,130
131,056
Fixtures
and
fittings
£
60,942
56,792
2,642
59,434
1,508
4,150
2025
£
61,562
1,900
29,402
92,864
2025
£
282,407		 Total
funds
£
1,170,643
1,024,692
Totals
£
899,540
72,110
19,414
91,524
808,016
827,430
2024
£
44,112
1,407
13,137
58,656
2024
£
280,751

Page 22

continued...

Cardiff Mind Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

14. Creditors: amounts falling due within one year
2025 2024
£ £
Bank loans and overdrafts (see note 16) 5,431 4,336
Social security and other taxes 18,948 19,463
Other creditors 9,711 4,567
Accruals and deferred income 12,683 421,185
46,773 449,551
Deferred income brought forward 410,403 606,809
Amounts released to incoming resources (692,511) (313,848)
Amounts deferred in the year 283,185 117,442
Deferred income carried forward 1,077 410,403
15. Creditors: amounts falling due after more than one year
2025 2024
£ £
Bank loans (see note 16) 335,219 340,781
16. Loans
An analysis of the maturity of loans is given below:		 2025 2024
£ £
Amounts falling due within one year on demand:
Bank loans		 5,431 4,336
Amounts falling between one and two years:
Bank loans - 1-2 years		 12,157 9,072
Amounts falling due between two and five years:
Bank loans - 2-5 years		 28,761 21,639
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more 5 yr by instal 294,301 310,070
17. Leasing agreements
Minimum lease payments under non-cancellable operating leases fall due as follows:
2025 2024
£ £
Within one year 3,224 3,224
Between one and five years 2,418 5,642
5,642 8,866

Page 23

continued...

Cardiff Mind Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

18. Movement in funds

Unrestricted funds
General fund
Restricted funds
Local Mental Health Grants Scheme
Cardiff and the Vale University Health
Board
Tier Zero
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Local Mental Health Grants Scheme
Cardiff and the Vale University Health
Board
Tier Zero
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
Building refurbishment fund
Restricted funds
Local Mental Health Grants Scheme
Cardiff and the Vale University Health
Board
TOTAL FUNDS		 At 1.4.24
£
893,636
104,349
26,707
-
131,056
1,024,692
Incoming
resources
£
1,106,383
179,704
61,002
265,805
506,511
1,612,894
At 1.4.23
£
872,875
16,638
889,513
216,390
64,740
281,130
1,170,643		 Net
movement
in funds
£
(160,962)
(25,754)
(8,743)
132,726
98,229
(62,733)
Resources
expended
£
(1,267,345)
(205,458)
(69,745)
(133,079)
(408,282)
(1,675,627)
Net
movement
in funds
£
20,761
(16,638)
4,123
(112,041)
(38,033)
(150,074)
(145,951)		 At
31.3.25
£
732,674
78,595
17,964
132,726
229,285
961,959
Movement
in funds
£
(160,962)
(25,754)
(8,743)
132,726
98,229
(62,733)
At
31.3.24
£
893,636
-
893,636
104,349
26,707
131,056
1,024,692

Page 24

continued...

Cardiff Mind Ltd

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

18. Movement in funds - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Building refurbishment fund
Restricted funds
Local Mental Health Grants Scheme
Cardiff and the Vale University Health
Board
Tier Zero
Active Monitoring
TOTAL FUNDS		 Incoming
resources
£
1,040,611
-
1,040,611
179,705
61,002
265,805
64,085
570,597
1,611,208		 Resources
expended
£
(1,019,850)
(16,638)
(1,036,488)
(291,746)
(99,035)
(265,805)
(64,085)
(720,671)
(1,757,159)		 Movement
in funds
£
20,761
(16,638)
4,123
(112,041)
(38,033)
-
-
(150,074)
(145,951)

Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.

The building refurbishment designated fund has been created by the Trustees to cover the potential costs of remedial works to the property occupied by the charity in the coming years.

Local Mental Health Grants Scheme - the scheme is administered by Cardiff and the Vale University Health Board. Part of this funding is for Core Services and Integrated Day Services. The other part of the funding is to provide people with support in re-engaging with the community. This is completed by providing; a safe space, social contact, information and advice, vocational assessment/planning, volunteering opportunities, a wide range of pre-vocational training and links into a host of community resources.

Cardiff and the Vale University Health Board - The funding is provided to secure for the residents of Cardiff the provision of specified healthcare by contributing towards the core costs of the Integrated Day Services. In particular, the service should provide; an Outreach Service, a free counselling service, support groups, training to other organisations, information on other agencies and sources of support and a list of counsellors and therapists.

Tier 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 Monitoring is a scheme to provide support in line with GP referrals to support those in need with mental health support.

19. Employee benefit obligations

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 to £54,265 (2024: £56,396).

Page 25

continued...

Cardiff Mind Ltd

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

20. Related party disclosures

There were no related party transactions for the year ended 31 March 2025.

21. Members' liability

The charity is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation.

Page 26

Cardiff Mind Ltd

Detailed Statement of Financial Activities for the Year Ended 31 March 2025

Income and endowments
Donations and legacies
Donations
Investment income
Deposit account interest
Charitable activities
Local Mental 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
CAP SERVICE
Council Hubs
Counselling fees
Active Monitoring Mind
Other Grants
Other income
Other income
Training income
Rent income
Total incoming resources
Expenditure
Charitable activities
Wages
Social security
Pensions
Rent and rates
Insurance
Light and heat
Telephone
Repairs and maintenance
Computer software and maintenance
Training, conferences and Awaydays
Travel costs
Printing, postage and stationery
Subscriptions and donations
Sundry and other costs
Cleaning
Management charges
Legal and professional fees
Fixtures and fittings		 2025
£
12,927
11,977
231,959
90,000
214,264
265,805
72,825
117,751
79,631
324,858
(52,817)
15,833
30,000
129,930
-
40,000
1,560,039
14,242
12,829
880
27,951
1,612,894
956,007
77,090
54,265
-
17,264
44,423
38,238
38,798
30,130
12,353
13,922
5,592
17,647
63,254
16,376
117,493
7,877
19,414
1,530,143		 2024
£
14,634
18,448
231,959
149,990
275,566
265,805
-
117,286
61,002
334,108
(71,379)
-
-
118,680
64,085
-
1,547,102
2,077
28,947
-
31,024
1,611,208
980,712
79,177
56,396
16
15,440
31,774
30,542
43,929
25,749
12,828
12,439
8,797
12,465
129,813
11,195
114,970
36,165
17,890
1,620,297

This page does not form part of the statutory financial statements

Page 27

Cardiff Mind Ltd

Detailed Statement of Financial Activities for the Year Ended 31 March 2025

Support costs
Finance
Wages
Rent and rates
Bank charges
Human resources
Bank loan interest
Governance costs
Wages
Auditors' remuneration
Auditors' remuneration for non audit work
Total resources expended
Net expenditure		 2025
£
68,919
21,125
165
90,209
29,496
11,724
5,025
9,030
25,779
1,675,627
(62,733)		 2024
£
68,237
19,745
240
88,222
26,476
11,608
4,706
5,850
22,164
1,757,159
(145,951)

This page does not form part of the statutory financial statements

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