Registered charity no. 1033000 Registerèd Company no. 02853335 (England and Walesl AGM 2022 Annual Report |i*' Report of the Trustees Audited Financial Statements for the Year Ended 31 March 2022 Harris & Co Ltd. Statutory Auditors 2 Pavilion Court 600 Pavilion Drive Northampton NN4 7SL Northamptonshire
Contents of the Financial Statements for the Year Ended 31 March 2022
Contents
| Contents | |
|---|---|
| Report of the Trustees | 1 - 9 |
| Report of the Independent Auditors | 10 - 15 |
| Statement of Financial Activities | 16 |
| Balance Sheet | 17-18 |
| Cash Flow Statement | 19 |
| Notes to the Cash Flow Statement | 20 |
| Notes to the Financial Statements | 21-31 |
| Detailed Statement of Financial Activities | 32-35 |
Report of the Trustees for the Year Ended 31 March 2022
The Board of Trustees presents its report with financial statements of Northamptonshire Mind for the year ending 31st March 2022. Northamptonshire Mind prepares accounts according to the methods and principles contained in the Accounting and Reporting by Charities, Statement of Recommended Practice (SORP) (revised 2000). Annual Reports are prepared and audited annually as required by the Companies Act and Charities Act.
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Report of the Trustees for the Year Ended 31 March 2022
Objectives and activities
Purpose and Aims of the Charity
Northamptonshire Mind is one of the largest mental health providers working in Northamptonshire. We work in partnership with Northamptonshire Health Foundation Trust and other Mental Health providers to support the mental health community through service provision, campaigning and influencing. We are local leaders in developing innovative services that support people with Mental Health problems and together with our partners in the Mental Health Northants Collaboration, we are leading the way in redesigning and providing Mental Health services across the county.
Across our sites, we provide education and learning opportunities for people completing professional qualifications in Social Care, Counselling and Psychotherapy.
Northamptonshire Mind has charitable status and relies on support from partner organisations, donors and the general public.
Governance
As a charity, Northamptonshire Mind is governed by the Board of Trustees. The Trustees carry the responsibility of the Company Directors of Northamptonshire Mind.
The Board of Trustees carries the overall responsibility for ensuring that Northamptonshire Mind pursues its charitable objects, complies with its constitution, relevant legislation and regulations and applies its resources exclusively to its objects. To facilitate the smooth running of Northamptonshire Mind, the Board of Trustees has established the sub-committees - Finance and Risk, HR and Professional Standards and Alignment. The Terms of Reference for each sub-committee have been approved by the Board of Trustees. The Board of Trustees determines Northamptonshire Mind's strategies; approves its financial plans, annual report and accounts and governance structure, makes key appointments (Chief Executive Officer) and monitors Northamptonshire Mind's strategic performance.
Vision
To improve mental health and wellbeing in Northamptonshire
Purpose
To listen, support, take action and help build resilience for better mental health
Values
We believe that our core values are the essence of our identity, they tell clients, colleagues and external stakeholders what we are about and what is important to us.
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Integrity: We are honest with strong principles and high standards
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Compassionate: We care and understand the importance of good mental health and wellbeing
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Person-Centred: We place the person at the centre of our services
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Inclusive: We are open to all
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Dedicated: We are dedicated to tackling the stigma behind mental health
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Report of the Trustees for the Year Ended 31 March 2022
Goals
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To empower people who experience a mental health problem to make informed choices about how they live and recover
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To ensure people get the right services and support at the right time to help their recovery and enable them to live with their mental health problem
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To open the doors to people with experience of mental health problems participating fully in society
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To achieve equality of treatment for people who experience both mental health and other forms of discrimination
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To build a culture of excellence through constant development of our assets
Public benefit
The Trustees have had regard to the guidance issued by the Charity Commission and believe all the charity's activities are for public benefit.
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Report of the Trustees for the Year Ended 31 March 2022
Strategic report
Northamptonshire Mind has emerged from the pandemic in a stronger position to meet the mental health challenges that it has presented. The charity activities income and other income have increased from £958,671 and £91,747 respectively last year 2020-21 to the £1,393,256 and £2226,856 respectively in year 2021-22. This is also the first year in which the four merged Minds of Rushden, Wellingborough, Corby and Northampton & District operated as Northamptonshire Mind.
Our policy is to budget annual expenditure to continue to deliver services that we provide and to build upon our reserves. Our largest source of income is from County Council Social funding and NHFT commissioned services through the Mental Health Northamptonshire Collaborative. However, donations and retail sales show strong gains as pandemic restrictions ease and community fundraising returns. Expenditure levels reflect the support requirements of our commissioners in meeting the growing need and increased demand for mental health services.
Total Income generated by the Northamptonshire Mind was £1,620,112 (2021: £1,761,208), excluding the net gain on investment at £10,599 (2021: £26,987), and overall total income and gains was £1,630,711 (2021 £1,788,186). Total expenditure for the year stands at £1,701,026 (2021 £1,096,377) resulting in net expenditure over income of (£70,316) (2021: £691,809 (including the donation of net assets from three of the merged charities)).
This year the Charity’s expenditure is greater than the income generated (i.e. A loss) due to necessary expenditure created by the newly merged organisation requiring a further investment in staff training and development, new posts with the employment of additional administrative staff and a director as part of a more centralised structure and the commissioning of consultants to carry out a human resource alignment exercise to review and align employment conditions and remuneration. Other contributing factors include the debt written off and lower level of income due to writing off the BBO contract in the year, increased supervision costs for counsellors, energy costs, and travelling costs due to the way we have changed our work pattern from being local to centralised. At the end of the year the value of our investments and reserves stands at £145,787 and £653,947 respectively, while cash at bank is £244,470.
Reserves Policy
The Board of Trustees have agreed that the organisation should attempt to maintain a level of reserves that equates to three months running costs.
Investment Policy
The charity has a previously inherited portfolio of stocks and shares, which is held as a long-term investment providing both income generation in the form of dividends and growth in the value of investments for future developments. The charity does not in itself partake investment activity other than to monitor the existing portfolio in to reduce the risk to its assets but recognises the fact that the value of shares can fluctuate. The charity, in line with the policy of National Mind, does not invest directly in drug companies
Review of Major Risks
The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
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Report of the Trustees for the Year Ended 31 March 2022
Major risks have been identified by the Trustees, are regularly reviewed by the Trustees and systems established to mitigate those risks. The Trustees are fully aware of the reliance on grants and contracts for the maintenance and development of the charity's services as reported in previous years, the charity continues its efforts to diversify its activities supported by funding from a wider range of income sources.
The charity has insurance cover for its property and legal liabilities normally associated with its operations. The charity recognises its legal and moral duty to minimise personal risk to its users, staff and members of the public and regularly reviews its policies.
The Financial impact of Covid-19 on the current financial statements and results for the year ended 31 March 2022, whilst they have not been significant to its operations, the level of gifts and donations received from private companies and individuals are much lower than previous years. We anticipate this will change in the current year.
Fraud Risk and Remedies
The largest fraud risk to income, is receiving cash but now that we are no longer dealing in cash and monies are going directly to our bank accounts, this is minimised. The second fraud risk is cybercrime, but we have good IT security and human checks and balances in place to ensure that this risk is covered. The third risk is employee fraud due to the number of employees we have but again we ensure that employees Personnel ids and computer Security processes are in place as well as entry in/out of buildings is secure.
Going Concern
The Financial Statements have been prepared on the Going Concern basis as detailed in the strategic report to the financial statement. There are new and increased contracts/projects which are starting soon and recorded in the next year forecast, the funds raised together with existing bank balances provide sufficient funding for at least until the end of the calendar year.
COVID-19 pandemic has had a limited direct impact on the Charity therefore, the Trustees do not believe that the pandemic will affect its ability to trade as a going concern.
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Report of the Trustees for the Year Ended 31 March 2022
Structure, governance and management
Service-Related Information
We are a newly formed Local Mind; we design and deliver services reflecting the needs of individuals and our community. Our sites and services across the North and West of the county enable us to work towards our vision ‘to improve mental health and wellbeing in Northamptonshire’
As a part of a national network which shares a wealth of experience, expertise and skills. We are constantly striving for improvement through innovation. We have many years of experience developing and delivering high quality services.
The merger created a county wide footprint, with Northamptonshire Mind being a recognised point of contact. This reputation builds on the trust we have already established in the communities we serve. Our local community knowledge and partnerships are essential for us to continue to meet the needs of people with mental health problems.
Across the county we provide volunteering, education and learning opportunities for people, including those completing professional qualifications in Social Care, Counselling and Psychotherapy. We deliver a wide range of services and work in partnership to support the mental health community through service provision, campaigning and influencing. If you would like further information on our services and impact for 2021/22 visit our website https://www.northamptonshiremind.org.uk/ where you can find our full impact report.
Delegated Authority
The Chief Executive reports organisational performance to the Board of Trustees and assists in developing the Vision, Purpose and Strategy for the charity. The day-to-day operational management of the Charity is delegated to the CEO and Executive Management Team.
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Report of the Trustees for the Year Ended 31 March 2022
Annual Report 2021- 2022 Chair's Introduction
This has been a year of growth and development. I am proud to say that we have recruited an Executive Team and six new Trustees to work alongside those that have remained following the merger. The combination of skills, experience and enthusiasm has been essential in steering Northamptonshire Mind through this period of organisational change and the uncertainty that the pandemic bought.
Throughout the year we started to identify our priorities, consulting with service users and stakeholders, gathering and analysing data to inform our Strategy. We undertook a full organisation self-assessment, in line with our quality assurance and the Mind Quality Mark.
During this period of development and growth we have kept the Charity's beneficiaries at the heart of all we do. We strive to live our values to make sure everyone can get mental health support, whoever they are, whatever their race, gender, sexuality, disability or beliefs.
We are seeing an increase in demand for services and have evidence of those disproportionately affected by the pandemic and it’s our service users. We know that we can improve everyday life for people in the county with our sites and services. Whilst positioning ourselves strategically to influence policy and practise.
On behalf of the board, I would like to thank the staff and volunteers for their tireless hard work and commitment, they are the organisations greatest asset. They continue to find different ways of working to respond to need, always giving their time and expertise to help those who may be suffering from mental health challenges.
I would also like to thank our amazing supporters, fundraisers and funders who ensure that we can continue to deliver our vision.
Thank you, everyone.
Frida Norman
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Report of the Trustees for the Year Ended 31 March 2022
The transformation we have undergone is only the beginning, and we will aim for continual improvement, informed by what our service users tell us. Our employees, Trustees and volunteers are our greatest assets, so we will nurture their learning and development, in consultation with them. We will strengthen our governance and aspire to excellence. There is strength in partnerships, and we will continue and extend our collaboration where possible with NHFT, Local Authorities, Communities, Businesses, and the Voluntary Sector, as we develop our strategy for the future.
Reference and administrative details
Registered Company number
02853335 (England and Wales)
Registered Charity number 1033000
Registered office
Anchor House 6/7 Regent Square Northampton NN1 2NQ
Trustees
F Norman – Chair (appointed 17/5/2022) P D Webster (appointed 24/09/2018) A Bates (resigned 17/5/2022) L Connelly (resigned 29/09/2021) B J Frisby (appointed 28/05/2020) W Giles (appointed 28/05/2020) R Rajani (appointed 28/05/2020) R Mayman (appointed 01/06/2021) R Stubbs (appointed 01/06/2021) R Singh (appointed 01/06/2021) V R Pearce (appointed 01/06/2021) K Latham (appointed 01/06/2021) R Bessell (appointed 01/06/2021)
Company Secretary S Hillier Auditors Harris & Co (Accountants) Ltd, Statutory Auditors 2 Pavilion Court 600 Pavilion Drive Northampton NN4 7SL
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Report of the Trustees for the Year Ended 31 March 2022 Northamptonshire Statement of trustees, responsibilities The Trustees (who are also the director5 of Northamptonshire Mind for the pvrposes of company lawl are responsible for preparing the Report of the Trustees and the financial Statements in accordance with applicable law and United Kingdorn Accounting Standards (United Klngdom Generally Accepted Accounting Practicel including Financial Reporting standard 102 'The Financial Reporting Standard applicable in the UK and Republlc of Ireland" Company law requires the Trustees to prepare financial statements for each financlal year which 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 incorne and expenditu, of the charitable company for that period. In preparing those financlal statements, the Trustees are required to Select suitable accounting policies and then apply them consistently,. Observe the methods and principles in the Charity SORP,. Make judgements and estimates that are reasonable and prudent- state whether applicable 8ccounting standards have been ftsllowed, subject to any material departures disclosed and explained in the financial 5tatements,' Prepare the financial statements on the going ctsncern basis unless It Is Inapproprlate to presume that the charitable company will continue in business. The Trustees are responsible for keeping proper accounting record5 which di5t105e wlth reasonable accuracy at any time the financial posltion of the charitable company and to enable them to ensure that the financial statements complywith the Companies Act 2006. They are also responsible for5afeguarding the assets of the charitable company and hence for taking ieasonable steps for the prevention and detection of fraud and other irregularities. In so far as the Trustees are aware- There is no relevant audit information of which the charitable company's auditors are unaware., and The Trustees have taken all steps that they ought to have taken to make thernselves aware of any relevant audit information and to establish that the auditors ère aware of that information. Audltor5 The auditors, Harris & Co IAccountantsl Ltd. StatutoryAuditors, will be proposed for re-appointment atthe forthcoming Annu81 General Meetlng. Report of the T directors, on tegic report, approved by or f the ly)ard of Trustees, as the companv d signed on the board's ehalf bv: R Rajani-Trustee PDW bster-Trustee Pagel 9
Report of the Independent Auditors to the Members of Northamptonshire Mind
Opinion
We have audited the financial statements of Northamptonshire Mind (the 'charitable company') for the year ended 31 March 2022 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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In our opinion the financial statements:
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Give a true and fair view of the state of the charitable company's affairs as at 31 March 2022 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
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Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and
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Have been prepared in accordance with the requirements of the Companies Act 2006.
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.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
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Report of the Independent Auditors to the Members of Northamptonshire Mind
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:
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The information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
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The Report of the Trustees has been prepared in accordance with applicable legal requirements.
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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Adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
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The financial statements are not in agreement with the accounting records and returns; or
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Certain disclosures of Trustees' remuneration specified by law are not made; or
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We have not received all the information and explanations we require for our audit.
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.
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Report of the Independent Auditors to the Members of Northamptonshire Mind
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:
Identifying and assessing potential risks related to irregularities
In identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, we considered the following:
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The nature of the charity's activities and sector, control environment and financial performance;
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Enquiring of management and the Trustees, including obtaining and reviewing supporting documentation, concerning the charitable company's policies and procedures relating to:
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Identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;
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Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;
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The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations.
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Discussing among the engagement team and involving relevant internal specialists, including tax, and charity specialists (where relevant) regarding how and where fraud might occur in the financial statements and any potential indicators of fraud; and
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Obtaining and understanding of the legal and regulatory frameworks that the charitable company operates in, focusing on those laws and regulations that had a direct effect on the financial statements, such as provisions of the UK Companies Act, charity legislation and tax legislation or that had a fundamental effect on the operations of the charitable company; including General Data Protection requirements, anti-bribery and corruption policy.
Audit response to risks identified
As a result of performing the above, we identified various provisions of the Charities Act and the Charity Commission guidance as key audit matters related to non-compliance with laws and regulations and the receipt of donations and the making of grants as key audit matters related to the potential risk of fraud. In common with all audits under isas (UK), we are also required to perform specific procedures to respond to the risk of management override.
In addition to the above, our procedures to respond to risks identified include the following:
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Review of the financial statement disclosures and testing to support documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
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Enquiring of management, the Trustees and in-house and external legal counsel where relevant concerning actual and potential litigation and claims;
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Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; and
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Report of the Independent Auditors to the Members of Northamptonshire Mind
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Reading minutes of meetings of those charged with governance, reviewing internal reports where relevant and correspondence.
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Reviewing compliance with relevant charity legislation.
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Reviewing and testing the receipt of donations.
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Reviewing and testing the making of grants.
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In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the rationale of the charity for any significant transactions that are unusual or outside the normal course of business.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to an indications of fraud or non-compliance with laws and regulations throughout the audit.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
As part of an audit in accordance with isas (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
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Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
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Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the charitable company's internal control.
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Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Trustees.
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Conclude on the appropriateness of the Trustees' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charitable company's ability to
continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit
Evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the charitable company to cease to continue as a going concern.
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Report of the Independent Auditors to the Members of Northamptonshire Mind
- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
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.
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Report of the Independent Audltors to the Members of Northamptonshlre Mlnd Use of our report This report is made solely to the Charitable company's members, as a body, in accordance wlth Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we rnight state to the charitable eompany's rnembers 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 3ccept 01 assume responsibility to anyone other than the charitable Company and the charitable comp embers as a body, for oyr audit work, for this report, or for the opirbions we have formed. is BA FCA (Senior Statutory Auditor) For and on behalf of Harris & Co (Accountants) Ltd, Statutory AudStors 2 Pavilion Court 600 Pavilion Drive Northampton NN4 7SL Date.. Page I IS
Statement of Financial Activities for the Year Ended 31 March 2022
| Notes £ Income and endowments from Donations and legacies 2 165,664 Charitable activities 5 Charitable Activities 1,393,256 Other trading activities 3 55,474 Investment income 4 5,716 Other income 1 Total 1,620,111 Expenditure on Raising funds 6 7,708 Charitable activities 7 Charitable Activities 1,682,195 Total 1,689,903 Net gains on investments 10,599 Net income/(expenditure) (59,193) Transfers between funds 16 11,039 Net movement in funds (48,154) Reconciliation of funds Total funds brought forward 1,000,556 Total funds carried forward 952,402 Unrestricted Funds |
£ - - - - - - - 11,123 11,123 - (11,123) (11,039) (22,162) 22,162 - Restricted Funds |
£ 165,664 1,393,256 55,474 5,716 1 1,620,111 7,708 1,693,318 1,701,026 10,599 (70,316) - (70,316) 1,022,718 952,402 2022 Total Funds |
£ 780,898 958,671 17,249 4,360 30 1,761,208 31,276 1,065,101 1,096,377 26,978 691,809 - 691,809 330,909 1,022,718 2021 Total Funds |
|---|---|---|---|
The notes form part of these financial statements
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Balance Sheet 31 March 2022
| Unrestricted Funds Notes £ Fixed assets Tangible assets 12 472,853 Investments 13 145,787 618,640 Current assets Debtors 14 230,558 Cash at bank and in hand 244,470 475,028 Creditors Amounts falling due within one year 15 (141,266) Net current assets 333,762 Total assets less current liabilities 952,402 Net assets 952,402 |
Restricted Funds £ - - - - - - - - - - |
2022 Total Funds £ 472,853 145,787 618,640 230,558 244,470 475,028 (141,266) 333,762 952,402 952,402 |
2021 Total Funds £ 482,004 135,188 617,192 203,094 245,885 448,979 (43,453) 405,526 1,022,718 1,022,718 |
|---|---|---|---|
The notes form part of these financial statements
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Balance Sheet 31 March 2022 Northamptonshire Funds Unrestricted funds Rest¥itted funds 16 952,402 1,000,556 22,162 Total funds 952,402 1,022,718 ments were approved by the Board of Trustees and authorised for issue tsn And were signed on its behalf bv.. P D Web5ter- Trustee /7F- . R Rajani-Trustee The notes form part of these financial statements Page1 18
Cash Flow Statement for the Year Ended 31 March 2022
| Notes Cash flows from operating activities Cash generated from operations 1 Net cash provided by operating Activities Cash flows from investing activities Purchase of tangible fixed assets Interest received Dividends received Net cash (used in)/provided by investing 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 |
2022 £ 2,085 2,085 (9,216) 6 5,710 (3,500) (1,415) 245,885 244,470 |
2021 £ 190,869 190,869 - 15 4,345 4,360 195,229 50,656 245,885 |
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The notes form part of these financial statements
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Notes to the Cash Flow Statement for the Year Ended 31 March 2022
1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
| Net (expenditure)/income for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Gain on investments Interest received Dividends received Non cash balances donated during merger Increase in debtors Increase in creditors Net cash provided by operations |
2022 £ (70,316) 18,367 (10,599) (6) (5,710) - (27,464) 97,813 2,085 |
2021 £ 691,809 13,268 (26,978) (15) (4,345) (377,561) (132,372) 27,063 190,869 |
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2. ANALYSIS OF CHANGES IN NET FUNDS
| At 1/4/21 | Cash flow | At 31/3/22 | |
|---|---|---|---|
| £ | £ | £ | |
| Net cash | |||
| Cash at bank and in hand | 245,885 | (1,415) | 244,470 |
| 245,885 | (1,415) | 244,470 | |
| Total | 245,885 | (1,415) | 244,470 |
The notes form part of these financial statements
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Notes to the Financial Statements for the Year Ended 31 March 2022
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, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates to write off each asset to its estimated residual value over its estimated useful life as follows:
Freehold property 2% of the net book value on transition to Charities SORP FRS102
Fixtures and fittings 25% on cost
Northampton Mind's tangible fixed assets have been valued at cost less depreciation in the financial statements in previous year. Following the merger, the tangible fixed assets of Rushden, Corby and Wellingborough have been absorbed into the financial statements.
Corby and Wellingborough Mind valued their respective properties on the revaluation method and have such been transferred in at those values. Rushden valued their fixed assets under the cost basis. All tangible fixed assets will be valued using the cost method moving forward.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Page | 21
Notes to the Financial Statements for the Year Ended 31 March 2022
1. ACCOUNTING POLICIES - continued
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.
Finance leases
Assets obtained under finance leases are capitalised as tangible fixed assets. Depreciation is charged over the shorter of the length of the lease and the estimated useful life of the asset. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the charity. Obligations under such leases are included in creditors net of the finance charge allocated to future periods. The finance element of each payment is charged to the Statement of Financial Activities so as to produce a constant periodic rate on the net obligation outstanding in each period.
Operating leases
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are reflected in the Statement of Financial Activities as incurred.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
The charitable company has charged the regular cost of providing retirement pensions and related benefits to the profit and loss account over the employees' service lives on the basis of a constant percentage of earnings.
Investments
Investments are stated at market value. Realised and unrealised gains and losses on investments are dealt with in the Statement of Financial Activities. Investment income is credited to income on a received basis, using dates of payment for dividends and interest.
Page | 22
Notes to the Financial Statements for the Year Ended 31 March 2022
1. ACCOUNTING POLICIES - continued
Value added tax
Value added tax is not recoverable by the charity, and as such is included in the relevant costs in the Statement of Financial Activities.
Management and administration expenditure
Expenditure on management and administration of the charity includes all expenditure not directly related to the charitable activity or fundraising ventures. This includes cost of renting and running office premises, staff for administrative staff and audit fees.
Services
Certain services are delivered through dedicated outlets. The income and expenditure of each service is netted off against each other and the net result for each service included in the Statement of Financial Activities. The bank and cash balances of the individual services are included in the balance sheet.
2.
DONATIONS AND LEGACIES
| DONATIONS AND LEGACIES | ||
|---|---|---|
| Net assets donated by merged charitable companies Donations Shop |
2022 £ - 122,495 43,169 165,664 |
2021 £ 710,790 58,108 12,000 |
| 780,898 |
3.
OTHER TRADING ACTIVITIES
| Service user contribution Training University/college placements Cleaning income Building usage |
2022 £ 39,197 363 10,690 3,358 1,866 55,474 |
2021 £ 6,280 5,310 1,951 3,358 350 |
|---|---|---|
| 17,249 |
Page | 23
Notes to the Financial Statements for the Year Ended 31 March 2022
4. INVESTMENT INCOME
5.
| Other fixed asset invest - FII Deposit account interest INCOME FROM CHARITABLE ACTIVITIES Activity Northamptonshire County Council and Daventry and South Northants PCT Charitable Activities Navigator service income Charitable Activities Grants Charitable Activities Members Self Funding Charitable Activities Support services Charitable Activities Adult care management Charitable Activities Social care and health funding Charitable Activities Individual budgets ISF Charitable Activities Market Harborough contract Charitable Activities Activity income NGH Charitable Activities Activity income SHAPE Charitable Activities Clinical supervision Charitable Activities |
2022 £ 5,710 6 5,716 2022 £ 217,737 552,052 18,126 27,416 443,233 28,429 9,580 1,783 19,103 47,997 27,500 300 1,393,256 |
2021 £ 4,345 15 4,360 2021 £ 183,617 336,901 53,880 23,444 346,452 6,731 7,646 - - - - - |
|---|---|---|
| 958,671 |
Page | 24
Notes to the Financial Statements for the Year Ended 31 March 2022
| 6. RAISING FUNDS Other trading activities Bad debts 7. CHARITABLE ACTIVITIES COSTS Charitable Activities 8. SUPPORT COSTS Charitable Activities 9. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Auditors' remuneration Auditors' remuneration for non audit work Other non-audit services Depreciation - owned assets Hire of plant and machinery |
Direct Costs £ 1,665,682 Finance £ 18,367 |
2022 £ 7,708 Support costs (see note 8) £ 27,636 Governance costs £ 9,269 2022 £ 5,040 1,260 - 18,367 4,680 |
2021 £ 31,276 Totals £ 1,693,318 Totals £ 27,636 2021 £ 4,800 - 1,200 13,268 3,450 |
|---|---|---|---|
Page | 25
Notes to the Financial Statements for the Year Ended 31 March 2022
10. TRUSTEES' REMUNERATION AND BENEFITS
There were no Trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.
Trustees' expenses
There were no Trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.
11. STAFF COSTS
| STAFF COSTS | ||
|---|---|---|
| Wages and salaries Social security costs Other pension costs |
2022 £ 1,312,910 82,080 23,202 1,418,192 |
2021 £ 578,014 31,253 8,074 |
| 617,341 |
The average monthly number of employees during the year was as follows:
| 2022 | 2021 | |
|---|---|---|
| Full time equivalent | 61 | 53 |
No employees received emoluments in excess of £60,000.
Page | 26
Notes to the Financial Statements for the Year Ended 31 March 2022
12. TANGIBLE FIXED ASSETS
| COST At 1 April 2021 Additions At 31 March 2022 DEPRECIATION At 1 April 2021 Charge for year At 31 March 2022 NET BOOK VALUE At 31 March 2022 At 31 March 2021 |
Improvements Freehold to Property property £ £ 697,963 24,984 - - 697,963 24,984 242,574 2,498 13,959 500 256,533 2,998 441,430 21,986 455,389 22,486 |
Fixtures and fittings £ 25,874 9,216 35,090 21,745 3,908 25,653 9,437 4,129 |
Totals £ 748,821 9,216 |
|---|---|---|---|
| 758,037 | |||
| 266,817 18,367 |
|||
| 285,184 | |||
| 472,853 | |||
| 482,004 |
The improvements to furniture, fixtures and fittings are all used directly for charitable purposes.
In accordance with the FRS 102, freehold buildings are depreciated over their useful life. The depreciation does not necessarily reflect an actual diminution in value.
13. FIXED ASSET INVESTMENTS
| FIXED ASSET INVESTMENTS | |
|---|---|
| Listed | |
| Investments | |
| £ | |
| MARKET VALUE | |
| At 1 April 2021 | 135,188 |
| Revaluations | 10,599 |
| At 31 March 2022 | 145,787 |
| NET BOOK VALUE | |
| At 31 March 2022 | 145,787 |
| At 31 March 2021 | 135,188 |
Page | 27
Notes to the Financial Statements for the Year Ended 31 March 2022
13. FIXED ASSET INVESTMENTS - continued
There were no investment assets outside the UK.
Included in the above market valuation are the following shareholdings which all represent more than 5% of the total market valuation;
Barclays PLC Experian PLC Burberry PLC Reed Elsevier PLC M&G Charities Investment Fund
Cost or valuation at 31 March 2022 is represented by:
| Listed | ||
|---|---|---|
| Investments | ||
| £ | ||
| Valuation in | 2021 | 135,188 |
| Valuation in | 2022 | 10,599 |
| 145,787 |
14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
|---|---|---|
| Trade debtors Bad debt provision |
2022 £ 261,326 (30,768) 230,558 |
2021 £ 203,094 - |
| 203,094 |
Page | 28
Notes to the Financial Statements for the Year Ended 31 March 2022
15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors Social security and other taxes Other creditors Company pension Accruals and deferred income Income in advance |
2022 £ 2,601 7,338 13,638 6,363 7,012 104,314 141,266 |
2021 £ 13,089 17,548 4,905 - 7,911 - |
|---|---|---|
| 43,453 |
16. MOVEMENT IN FUNDS
| Unrestricted funds General fund Revaluation reserve Restricted funds Projector Meeting room equipment Fire fund TOTAL FUNDS |
At 1/4/21 £ 783,399 217,157 1,000,556 700 1,393 20,069 22,162 1,022,718 |
Net Movement in funds £ (59,193) - (59,193) - - (11,123) (11,123) (70,316) |
Transfers between funds £ 11,039 - 11,039 (700) (1,393) (8,946) (11,039) - |
At 31/3/22 £ 735,245 217,157 |
|---|---|---|---|---|
| 952,402 - - - |
||||
| - | ||||
| 952,402 |
Page | 29
Notes to the Financial Statements for the Year Ended 31 March 2022
16. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Fire fund TOTAL FUNDS |
Incoming Resources £ 1,620,111 - 1,620,111 |
Resources expended £ (1,689,903) (11,123) (1,701,026) |
Gains and losses £ 10,599 - 10,599 |
Movement in funds £ (59,193) (11,123) (70,316) |
|---|---|---|---|---|
Comparatives for movement in funds
| Unrestricted funds General fund Revaluation reserve Restricted funds Projector Meeting room equipment Fire fund TOTAL FUNDS |
At 1/4/20 £ 330,909 - 330,909 - - - - 330,909 |
Net Movement At in funds 31/3/21 £ £ 452,490 783,399 217,157 217,157 669,647 1,000,556 700 700 1,393 1,393 20,069 20,069 22,162 22,162 691,809 1,022,718 |
At 31/3/21 £ 783,399 217,157 |
|---|---|---|---|
Page | 30
Notes to the Financial Statements for the Year Ended 31 March 2022
16. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Revaluation reserve Restricted funds Projector Meeting room equipment Fire fund TOTAL FUNDS |
Incoming Resources £ 1,521,889 217,157 1,739,046 700 1,393 20,069 22,162 1,761,208 |
Resources expended £ (1,096,377) - (1,096,377) - - - - (1,096,377) |
Gains and losses £ 26,978 - 26,978 - - - - 26,978 |
Movement in funds £ 452,490 217,157 669,647 700 1,393 20,069 22,162 691,809 |
|---|---|---|---|---|
17. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2022.
Page | 31