COMPANY REGISTRATION NUMBER: 02916027 CHARITY REGISTRATION NUMBER: 1036964 Mind in Gwent Company Limited by Guarantee Financial Statements 31 March 2024 WALTER HUNTER & CO LIMITED Chartered accountants & statutory auditor 24 Bridge Street Newport South Wales NP20 4SF Mind in Gwent Company Limited by Guarantee Financial Statements Year ended 31 March 2024 Page Trustees, annual report (incorporating the directorfs report) Independent auditorfs report to the members 25 Consolidated Statement of financial activities (including income and expenditure account) 30 Charity Statement of financial activities (including income and expenditure account} 31 Consolidated Statement of financial position 32 Charity Statement of financial position 33 Consolidated Statement of cash flows Notes to the financial statements 35 Mind in Gwent Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) Year ended 31 March 2024 The trustees, who are also the directors for the purposes of cornpany law, present their report and the financial statements of the chartty for the year ended 31 March 2024. Reference and administrative details Registered charity name Mind in Gwent Charity reglstratlon number 1036964 Company registratlon number 02916027 Principal office and reglstered 100-101 Commercial Street office Newport Gwent NP20 1LU The trustees N Thorneycroft- Chair Mrs L Cooper Ms B T Davies MrA Sutton Mr P Felkin Mr C Gough (Retired 30 September 2023) (Retired 16 July 2023) (Appointed 30 September 2023. Retired 19 May 2024) (Retired 25 September 2023) (Retired 30 September 2023) (Appointed 30 September 2023, Retired 14 October 2024) (Retired 10 May 2023) P Harkness Mr J Jones H Leonard P Marsh-Jenks Ms T Beggs E Boswell J Chung (Appointed 5 June 2024) (Appointed 5 June 2024) Audltor Mr Jonathan Rhodes Bsc BFP FCA (Senior Statutory Auditor) Walter Hunter & Co Limited Chartered accountants & statutory auditor 24 Bridge Str￿t Newport South Wales NP20 4SF Bankers Royal Bank of Scotland 32-33 Commercial Street Newport Gwent NP20 1SS Solicitors Harding Evans Queens Chambers 2 North Street Newport NP20 1TE Mind in Gwent Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (¢onllnuedJ Year ended 31 March 2024 Structure, govemance and management Nature of the Governin Document and constitution of the cha . The company is limited by guarantee and its goveming dsxuments are its Memorandum and Articles of Association. The Methods Ado ted For The Recrurtment And A ointment Of New Trustees New trustees are nominated by the membership and elected at the Annual General Meeting. The policies and procedures adopted for the induction and training of Directors Trustees are provided with an induction pack and their responsibilities are outlined to them by the Chief Executive Officer. The first Trustees meeting of each New Year is used to explain the responsibilities and the procedures of their new role. There are occasional training courses providgj to Trustees on their legal status and responsibilities. Theor anisational Structure Of The Char And How Decisions Are Made The Trustees meetings, when quorate, is the decision making bcrfjy of the organisation and is responsible for the overall governance and policy direction of the organisation. The Trustees delegate operational and day to day management of the organisation to the Chief Executive Officer and staff. On 30 September 2023 the assets, liabilities and acttvities of Mind Monmouthshire Limited by Guarantee Registered in England & Wales company registration number 04715435 registered office Henton House 28 Monk Streel Abergavenny Gwent NP7 5NP and Torfaen and Blaenau Gwent Mind Limited by Guarantee Registered in England & Wales company registration number 05059087 registered office 24 George Street Pontypool NP4 6BY were transferred to Mind in Gwent. The assets transferred from Mind Monmouthshire On￿ are designated for use in the geographical area of Monmouthshire Mind. The resulis for the year to 31 March 2024 include six months activities of the merged charities (October 2023 - March 2024). The comparative figures relate to Mind in Gwent (formerly Newport Mind) only. Membershi Of A Wider Network Mind in Gwent is affiliated to Mind (the National Association for Mental Health). the Gwent Mental Health Alliance, Gwent Ass(xiation of Voluntary Organisations and the Local Voluntary Sector Compact with Newport City Council. Mind in Gwent works in partnership with Caerphilly Borough Mind. Relationshi s Wrth Other Grou Charities And Individuals The charity works closety wtth other organisations in the fjeld of mental health including other Mind groups and other charities. We also have close partnerships with a variety of departments in the Statutory Sector including Housing Benefft Agencies, Social Services. Probation Serv￿, GP'S and hospitals. Thema or Risks To Which The Char ISEX osed And Reviews And S stems To Miti ate Risks The charity relies almost entirely on grant income, and so continuation of ftjnding and sustainability always has to be considered. In an attempt to mitigate this risk the charity is diversifying its income streams and investigating ways to generate income from the provision of services or through a social enterprise. The Directors receive regular reports on the financial situation of the charity and the operational plan includes measures to begin the process of securing income from sources other than statutory funders or grants. Mind In Gwent Company Llmited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (contlnuedj Year ended 31 March 2024 Structure, govemance and management (eondnuedj The Name Of The Chief Executive Officer And Other Senior Staff Members To IAlhom Da Mana ement Of The Char Is Del ated B The Cha Directors ToDa David Bland Seran Davies Darren Pritchard Chief Executive Officer Director of Services Apwnted (appointed December 2023) Director of Finance and Organisational Support (appointed January 2024) Public Benefit The Trustees confinn that they have referred to the guidance contained in the Charity Commission's general guidance on public benefft when reviewing the Charities aims and objectives and in planning future activities. Ob'ectives And Activities A summary of the objects of the charity as set out in its goveming document To promote the preservation of mental health and to assist in relieving and rehabilitating persons suffering from mental disorder or conditions of mental distress requirin9 advice or treatment in Wales. To promote the study of and research into mental heatth disorder and emotional or mental distress and to obtain and make records of and disseminate to the public the useful results of such research and to educate the public in matters relating to mental health. The charity's aims including the changes or differences it seeks to make through its activities Our Vision We won't give up until everyone experiencing a mental heafth problem gets both support and resped. Our Purpose We are Mind in Gwent We connect minds We bring people together to make change in their communrties. We support minds We deliver lrfe-changing support. We change minds We speak out and demand better from policymakers and the public. We're here to fight for mental health. For support. For respect. For you. Mind in Gwent Company Llmlted by Guarantee Trustees. Annual Report (Incorporating the Director's Report) fcontsnued) Year ended 31 March 2024 Structure, govemance and management (¢onllnued) Our fundamentals Our work will always respond to the needs and preferences of people with mental health problems. We put people first. So our work isn't defined by mental health diagnoses. We are committed to anti-racism. The Mind federation supports people across England and Wales. We also work closely with partners in Scotland and Northem Ireland. We're focused on supporting people all people wtth mentsl heatth problems regardless of age, chiklren, young people. adults and older people Strategic Goals A: Staying Well Goal Support the people most likely to develop mental heaFth problems, to stay well. B.. Empowering choice Empower people who experience a mental health problem to make infomied choices about how they live and recover. C.. Improving services and support Ensure people get the right services and support at the right time to help them recover fromllive wf(h a mental health problem. D.. Enabling social participation Open the doors to people with lived experience participating fully in society. E.. Removing inequalty of opportunty Gain equality of treatment for people with mental health problems who experience multiple discrimination. F: Organisational excellence Our wsion is of a thriving Newport Mind which achieves ex￿llenCe to give people with mental health problems local support and a voice. The above strategic goals set the framework for the development of more specific aims and objectives for the day to day operations of Mind in Gwent so that it can deliver: High quality services Focused on recovery Achieving posÉtive outcomes for people with mental health problems Serwces and opportunities to meet the needs of more people from a wider range of backgrounds, ages and communities Greater awareness of the services that Mind in Gwent offers and how to access them Mind in Gwent Mind in Gwent was fomed on the 1st of October 2023 frotn the joining together of Newport Mind Association, Mind Monmoulhshire and Torfaen and Blaenau Gwent Mind. Newport Mind remained in existence changing ts name to Mind in Gwent with new articles of association wf signed on behalf of the ort N Thomeycroft- Chair Trustee MrA Sutton Trustee The notss on pag•$ 35 to 66 fomi part of financial statements. -33- Mind in Gwent Company Limited by Guarantee Consolidated Ststement of Cash Flows Year ended 31 March 2024 2024 2023 Cash flows from operating activities Net income 1,433.084 170,844 Adjustments for Transfer of assets stock Depreciation of tangible fixed assets Other interest receivable and similar income Interest payable and similar charges Accrued (income)lexpenses (594,680) (28,559) 78,523 (5,818 38,465 91,671 36,743 (554) 12,341 326 Changes in.. Trade and other debtors Trade and other credrf(ors (238.144) 134.532 (43,892} {192,158) (16,350) Cash generated from operations 909.074 Interest paid Interest received (38.465} 5.818 {12,341) 554 Net cash froml(used in) operating acttvities 876.427 (28,137) Cash flows from investing activities Purchase of tangible assets Net cash used in investing activities (314,658) (912,800) (314,6581 (912,800} Cash flows from financing activities Proceeds from borrowings Net cash (used in)Ifrom financing activities (74,366) {74,366> 251,512 251,512 Net increasel(de¢rease) in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year 487.403 514.107 {689,425) 1,203.532 1,001.510 514,107 The note8 on pag?$ 35 to 66 forn) part of these financial ststements. Mind in Gwent Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2024 General inforniatk>n The charty is a public benefrt entty and a private company limrted by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 100-101 Commercial Street, Newpot( Gwent, NP20 1 LU. Statement of compliance These financial statements have been prepared in compliance wtth FRS 102, The Financial Reporting Standard applicable in the UK and the Republic of Ireland., the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of I￿rand {FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional CU￿encY of the entty, rounded to the nearest pound. On 30 September 2023 the assets, liabilities and activrties of Mind Monmouthshire Limited by Guarantee Registered in England & Wales company registration number 04715435 registered office Henton House 28 Monk Street Abergavenny Gwent NP7 5NP and Torfaen and Blaenau Gwent Mind Limited by Guarantee Registered in England & Wales company registration number 05059087 registered office 24 George Street Pontypool NP4 6BY were transferred to Mind in Gwent. The assets transferred from Mind Monmouthshire onty are designated for use in the geographical area of Monmouthshire Mind. The results for the year to 31 March 2024 include six months activities of the merged charities {October 2023 - March 2024)- The comparative figures relate to Mind in Gwent (fomierly Newport Mind) only. Going concern There are no material uncertainties about the charty's abilty to continue. Consolidation The Financial Statements consolidate the Financial Statements of Mind in Gwent and its subsidiary undertaking as at 31 March 2024. Judgements and key sources of estlmation uncertainty The preparation of the financial statements requires management to make judgement5. estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of fulure event5 that are believed to be reasonable under the circumstances. Fund accounting The charity maintains a general unrestricted fund which represents funds which are expendable at the discretion of the trustees in furtherance of the objects of the charty. Such funds may be held in order to finance both Working capital and Capital investment. -35- Mind in Gwent Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2024 Accounting policles (eontlnued) Restricted funds have been provided to the charity for particular purposes, and it is the policy of the board of trustees to ¢arefiJlty monrtor the application of those funds in accordance with the restrictions placed upon them. Any proposed transfer be￿een funds would be consKlered on the particular circumstances. Incomlng resources Ail incoming resources are included in the statement of financial activities when entitlement has passed to the charity- it is probable that the economic benefrts associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular calegories of income: Income from donations or grants is recognised when there is ewdence of entitlement to the gfft, receipt is probable and its amount can be measured reliably. Legacy income is recognised when receipt is probable and entitlement is established. Income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably. in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recoJnised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. Income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classffied as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned rf unspent, in which case it may be regarded as restrictgJ. Resources expended Expenditure is recognised on an accruals basis as a liabilty is incurred. Expenditure includes any VAT which cannot be ful￿ recovered, and is classified under headings of the statement of financial activiiies to which it relates= Expenditure on raising funds includes the costs of all fundraising activities. events. non-charitab trading activities, and the sale of donated gcrtjds. Expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefrt of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable lo a single activty are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. -36- Mind in Gwent Company Limited by Guarantee Notes to the Financlal Ststements (conllnuedj Year ended 31 March 2024 Accounting policles (condnue Income tax As a registered charity. the charty is exempt from income tax to the extent that its income and gains are applicable to charttable purposes only. Value added tax is not recoverable by the charity and is therefore included in the relevant costs in the Ststement of Financial Activities. Operating leases Lease payments are recognised as an expense over the lease temi on a straight-line basis. The aggregate benefrt of lease incentives is recognised as a reduction to expense over the lease temi, on a straight-line basis. Tangible assets All fixed assets are initially recorded at cost. Depreclation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value. over the useful economic lrfe of that asset as follows: Improvements to property Housing equipment Head office equipment 2°A p.a. straight line 330/0 p.a. straight line 200A to 33'A p.a. straight line Impairment of r￿ed assets A review for indicators of impaitment is carried out at each reporting date, wtth the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingty. Prior irnpainnents are also reviewed for possible reversal at ea¢h reporting date. Stocks stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, Costs of conversion and other costs incurred in bringing the stock to Fts present location and condition. Financial instruments A financial asset or a financial liability is recognised onty when the entity becomes a paty to the contractual provisions of the inslrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement Constitutes a financing transa¢tion, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrurrent. -37- Mind in Gwent Company Limited by Guarantee Notes to the Financial Statements (¢ontlnu8dJ Year ended 31 March 2024 Accountlng policies (continued) Current assets and Current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. The charity also participates in the Pensions Trust's Grimth Plan, a def5ned benefit scheme which is externally funded and is not contracted out of the State Second Pension. This is a multi- employer pension plan. It is not possible in the normal course of events to identify on a reasonable and consistent basis the share of underlying assets and liabilities belonging to individual participating employers. The Plan is a mutti-employer scheme, where the assets are Co-mingled for investment purposes, and benefits are paid out of the Plan's totsl assets. Accordingly, due to the nature of the Plan. the accounting charge for the period represent the employer contribution payable. Where a scheme is in deficit and where the charty has agreed to a deficit funding agreement. a liability is recognised for this obligation. The amount recognised is the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The unwinding of the discount rate is recognised as a cost in the Statement of Financial Activities. Multi employer pension scheme As at 30 September 2023 the liabilty was settled by Monmouthshire Mind and Torfaen and Blaenau Gwent Mind any future liabilty wll be settled by Mind in Gwent as guarantor and is set out in note 17, the company participates in the scheme, a mutti-emptoyer scheme. The scheme is a defined benefit scheme in the UK. It is not possible for the company to obtain sufficient infomation to enable it to account for the scheme as a defined benefit scheme. Therefore it accounts for the scheme as a defined contribution scheme. Where the Scheme is in defrcit and where the company has agreed to a deficit funding arrangement the company recognises a liabilty for this obligation. The amount recognised is the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The present value is calculated using the discount rate detailed in note 17. The discount rates used are the equivalent single discount rates which, when used to discount the future recovery plan contributions due, would give the same results as using a full Aq Corporate bond yield curve to discount the same recovery plan contributions. Estimates are used in detemiining the pension costs and liabilities incorporated in the financial statements. The assumptions reflect htstorical experience and judgement regarding future expectations. 4. Limited by guarantee The charty is incorporated under the Companies Act 2006 and is limited by guarantee, each member having undertaken to contribute such amounts nol exceeding one pound as may be required in the event of the company being wound up whilst he or she is still a member or wf(hin one year thereafter. There are 6 members of the company (2023.9). Mind in Gwent Company Limited by Guarantee Notes to the Financial Ststements (continued) Year ended 31 March 2024 Donations and legacies Group and Charity Unrestricted Funds Restricted Total Funds Funds 2024 Donations 60,099 60,099 Unrestricted Funds Restricted Total Funds Funds 2023 Donations 35,905 35,905 The amounts above for the year to 31 March 2024 include six months activities of the merged Charities (October 2023- March 2024). The comparative figures relate to Mind in Gwent only. -39- Mind in Gwent Company Limited by Guarantee Notes to the Financial Statements ¢￿￿tInued} Year ended 31 March 2024 Charltable activities Group and Charlty Unrestricted Funds Restricted Total Funds Funds 2024 Rental income (incIL￿ing Housing 8enefft) MONMOUTHSHIRE Abergavenny Town Council Garfield Western GAVO Gwent Dementia Grant Mind Active Monitoring Monmouth City Council Rural Project Funding Monmoulhshire County Council Contract Monmouthshire County Council Supported housing Moondance Rhondda Cynon Taff NEWPOR T Children in Need - Youth Soa"al Acb"on fund Co-op Comic Relief- Piece by Piece CYP Wellbeing Ambassadors Project DWP Kickslart Gabor Nagy St Martin GAVO Plant a seed Home offi￿ EU Setdernent Scheme Grant Mind- Support with merger Mind Active Monitoring Mind Co-op Resilience Fund 'Systems Change. Mind Expert Advisory panel Mind Money and Me Mind Peer Support Hub Project Mind Wellbeing Advisors - Children and Young People Mind5 in Gwenl Connector grant National Grid Wam Communtty Matters Natural resour￿ Wales Newport City Coun￿1 - Early Help Support PBP Newport City Council- Families First Newport City Council- Housing Support Grant Newport City Council - Skills training and wellbeirKJ Newport City Council Summer of Fun Promo- Cymru INation21 Lottery - Mind Our Futures Ted Senior Foundation WCVA - Landfill Disposals Tax Communitbes Scheme WCVA - Wellbeing Ambassadors Welsh Govemment Welsh Govemment svywo Whole School Approach TORFAEN and BLAENAU GWENT BGCBC Gommunibes forwork Blaenau Gwent County Borough Counal - Day se￿1￿$ GAVO Mind supported Self help Wales consortium Torfaen Voluntary Alliance 690.321 690,321 10.000 4,167 16.963 788 23,579 46,036 26.081 10.000 4,167 16,963 788 23,579 46,036 26,081 202,336 17,953 4.342 202.336 17,953 4,342 21,801 882 76,980 30,159 21.801 882 76.980 30,159 141 141 7.109 7.109 47.158 47.158 2.400 2,400 20.500 20.500 85,246 85,248 7.500 8.875 7.500 8.875 177.206 546,719 120,520 177.206 546,719 120.520 59.599 5.439 40.999 77.794 59.599 5,439 40,999 77.794 39.931 143.668 39.931 143.668 18.172 22,556 500 23,579 750 18.172 22.556 500 23,579 750 1.722.241 2,628.749 The amounts above for the year to 31 March 2024 include six months activities of the merged charities {October 2023 - March 2024). The comparative figures relate to Mind in Gwent only. Mind in Gwent Company Limited by Guarantee Notes to the Financial Statements (continueo) Year ended 31 March 2024 Charitable activities (continued) Unrestricted Restricted Funds Funds Total Funds 2023 Group and Charty Rental income {including Housing Benefft) MONMOUTHSHIRE Abergavenny Town Council Garfield Western GAVO Gwent Dementia Grant Mind Acb've Monitoring Monmouthshire County Council Supported housbng Monmouth City Council Rural Project Funding Monmouthshire County Council Contract Moondance Rhondda Cynon Taff NEWPOR T Children in Need - Youth Social Action fund Co-op Comic Relief- Ple￿ by Piece CYP Wellbeing Arnbassadors Project DVVP Kickslart Gabor Nagy St Martin GAVO Plant a seed Home Offi￿ EU Setdement Scheme Grant Mind- Support with merger Mind Active Monitoring Mind Co-op Resilience Fund 'Systems Change, Mind Expert Advisory panel Mind Money and Me Mind Peer Support Hub Project Mind Wellbeing Advisors- Children and Young Peop Minds in Gwent Connector grant National Grid Warm Community Matters Natural resour￿ Wales Newport City Council- Early Help Support PBP Newport City Coijncil - Families First Newport City Council - Housing Support Grant Newport City Council - Skills training and wellbeing Newport City Council Summer of Fun Promo- Cymru INalional Lottery- Mind Our Futures Ted Senior Foundation WCVA- Landfill Disposals Tax Communttses Scheme WCVA- Wellbeing AJnbassadors Welsh Govemment Welsh Govemment SVYWO Vvhole School Approach TORFAEN and BLAENAU GWENT BGCBC Comrnunities forworti Blaenau Gwent County Borough Council - Day Servi GAVO Mind supported self help Wales consortium Torfaen Voluntary Alliance 352,187 352,187 26,646 26.646 152.392 17.883 11,972 152,392 17,883 11,972 4,200 103,981 4.200 103,981 50,876 35.750 50,876 35,75Q 1.000 56,727 1.000 1,000 56,727 1.000 45,397 180,244 497.834 108,731 7,689 30,402 45,397 180,244 497,834 108,731 7,689 30,402 50,000 50.000 195.869 195,869 352.187 1.578.593 1,930,780 The amounts above for the year to 31 March 2024 include six months adivtties of the merged Charities {October 2023 - March 2024). The comparative figures relate to Mind in Gwent only. -41 Mind in Gwent Company Limited by Guarantee Notes to the Financlal Statements (contlnued) Year ended 31 March 2024 Other tradlng activitles Group Unrestricted Funds Restricted Total Funds Funds 2024 Private counselling Training Relevant Person Representative Accredited training Room Hire Fund generation - Torfaen Kitchen Fund generation - Phoenix Project 59.953 437,519 197.535 2.272 12.769 956 212 59,953 437,519 197,535 2,272 12.769 956 212 711,216 711.216 Group Unrestricted Funds Restrided Total Funds Funds 2023 Private ¢ounselling Training Relevant Person Representative Accredited training Room Hire Fund generation- Torfaen Kitchen Fund generation - Phoenix Project 47.227 51.985 47,227 51.985 99.212 The amounts above for the year to 31 March 2024 include six months activities of the merged charities (October 2023- March 2024). The comparative figures relate to Mind in Gwent only. Unrestricted Restricted Total Funds Funds Funds 2024 99,212 Charity Private counselling Training Room Hire Fund generation - Torfaen Kitchen Fund generation - Phoenix Prqect 52.221 31,546 12,769 956 212 52,221 31,546 12,769 956 212 97,704 97.704 Charity Unrestricted Funds Restricted Total Funds Funds 2023 Private counselling Training Room Hire Fund generation - Torfaen Kitchen Fund generation - Phoenix Project 47.227 51.985 47,227 51,985 99.212 99,212 -42- Mind In Gwent Company Limited by Guarantee Notes to the Financial Statements (contsnu•dJ Year ended 31 March 2024 Investment income Group Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Interest received 5.818 5,818 554 554 Charity Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Interest received 3,976 3.976 554 554 The amounts above for the year to 31 March 2024 include six months activrties of the merged charities (October 2023- March 2024). The comparative figures relate to Mind in Gwent only. Other Income Group and Charity Unrestrtcted Funds Restricted Total Funds Funds 2024 Other income Unrestricted Funds Restricted Total Funds Funds 2023 other income 16.794 16,794 16.794 16,794 The amounts above for the year to 31 March 2024 include six months activities of the merged charities (October 2023- March 2024). The comparative figures relate to Mind in Gwent only. Mind in Gwent Company Limited by Guarantee Notes to the Financial Statements (¢ontinuedJ Year ended 31 March 2024 10. Costs of raising donations and legacles Unrestricted Total Funds Unrestricted Totsl Funds Funds 2024 Funds 2023 Group and Charity Fundraising & Donations 30,572 30,572 The amounts above for the year to 31 March 2024 include six months activities of the merged charities (October 2023 - Ma￿h 2024). The comparative figures relate to Mind in Gwent only. 11. Costs of other trading activities Group Unrestrided Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Training & services Private Counselling Trading Costs of subsidiary 46,529 85.033 568.990 46,529 85.033 568,990 40,710 47,177 40,710 47,177 700,552 700.552 87,887 87,887 Charity Unrestricted Totsl Funds Unrestricted Total Funds Funds 2024 Funds 2023 T￿ining & se￿￿eS Private Counselling 46.529 85,033 46.529 85.033 131.562 40.710 47,17T 40,710 47,177 131,562 87.887 87,887 The amounts above for the year to 31 March 2024 include six months activities of Ihe merged charities (October 2023- March 2024). The comparattve figures relate to Mind in Gwent only. Mind in Gwent Company Limited by Guarantee Notes to the Financial Statements (conttnued) Year ended 31 March 2024 12. Expenditure on charitable activities by fund type Unrestricted Funds Group and Charity Restricted Total Funds Funds 2024 Housing including core costs 922.084 922,084 MONMOUTHSHIRE Abergavenny Town Council Garfield Western GAVO Monmouthshire City Council Moondance 19,699 4,167 11,210 59,500 15,228 19,699 4,167 11,210 82,946 15,228 23,446 NEWPOR T Cash4U Children in Need - Youth Social Action Fund Comic Relief Piece by Piece CYP Wellbeing Ambassadors Project DWP Kickstart Home Off5ce EU Settlement Mind Cymru Active Monitoring Mind Money and Me Mind small grants Mind Wellbeing Advisors Newport City Council Early Help Support PBP Newport City Council Families First Newport City Council Housing Support Grant Newport City Council Skills, training and wellbeing Newport Cty Council Summer of Fun NEWPORT Mind Cop op Resilience Fund Plant a seed Promo Cymru l National Lottery Mind Our Futures Ted Senior Foundation WCVA - Wellbeing Ambassadors Welsh Government svywo Whole School Approach 24,275 143,196 22,588 24,275 143,196 22.588 41,468 18.132 6.261 113,617 41.468 18.132 6,261 113,617 119,848 399,275 91,141 119,848 399,275 91.141 15.363 48,728 7,240 30.341 33,300 165.733 15,363 48,728 7.240 30.341 33.300 165,733 TORFAEN and BLAENAU GWENT BCBC Communities for Work Day Services Blaenau Gwent Mind supported self help consortium Wales NCN Blaenau Gwent East and West 14,067 16,099 33,286 14,025 14,067 16.099 33,286 14,025 Support Costs 189,080 256.721 445,801 1.134,610 1.724,508 2.859.118 Mind in Gwent Company Limited by Guarantee Notes to the Financial Ststements (conthiued) Year ended 31 March 2024 12. Expendlture on charitsble activltles by fund type (Condnuedj Group and Charity UnrestrFCted Funds Restricted Total Funds Funds 2023 Housing including core costs 187.101 44,359 231,460 MONMOUTHSHIRE Garfield Western GAVO Moondance Monmouthshire City Council Abergavenny Town Council NEWPORT Cash4U Children in Need - Youth Social Action Fund Comic Relief Piece by Piece CYP Wellbeing Ambassadors Project DWP Kickstart Home Office EU Settlement Mind Cop op Resilience Fund Mind Cymru Active Monitoring Mind Money and Me Mind small grants Mind Wellbeing Advisors Newport City Council Earty Help Support PBP Newport City Council Families First Newport City Council Housing Support Grant Newport City Council Skills, training and wellbeing Newport City Council Summer of Fun Plant a seed Promo Cymru l National Lottery Mind Our Futures Ted Senior Foundation WCVA- Wellbeing Ambassadors Welsh Government SVYWO Whole School Approach 121 5,871 116,031 34,247 11,972 64,154 43,112 44,191 121 5.871 116.031 34,247 11,972 64,154 43,112 44.191 595 19,165 35,203 140,270 434,659 92.028 7,689 9,145 10.711 595 19.165 35.203 140,270 434.659 92.028 7,689 9,145 10,711 137.996 137,996 TORFAEN and BLAENAU GWENT BCBC Communities for Work Day Services Blaenau Gwent Mind supported self help consortium Wales NCN Blaenau Gwent East and West Support costs 165,275 190,047 355,322 352,376 1.441.566 1,793,942 The amounts above for the year to 31 March 2024 include six months activities of the merged charities {October 2023- March 2024). The comparative figures relate to Mind in Gwent only. Mind in Gwent Company Limited by Guarantee Notes to the Financial Statements (¢onllnued) Year ended 31 March 2024 13. Expenditure on charitable activitles by actlvlty type Group and Charity Activities undertaken directly Totsl funds 2024 Support costs Total fund 2023 Housing including Core costs 922,084 187.197 1,109,281 396,735 MONMOUTHSHIRE Abergavenny Town Council Garfield Westem GAVO Monmouthshire City Council Moondance 19.699 4.167 11,210 82,946 15,228 1,875 21,574 4,167 11,901 93.782 18.072 691 10,836 NEWPORT Cash4U Children in Need- Youth Social Action Fund Comic Relief Piece by Piece CYP Wellbeing Ambassadors Project DWP Kickstart Home Office EU Settlement Mind Cop op Resilience Fund Mind Cymru Active Monrtoring Mind Money and Me Mind small grants Mind Wellbeing Advisors Newport City Council Early Help Support PBP Newport City Council Families First Newport City Council Housing Support Grant Newport Cty Council Skills, training and wellbeing Newport City Council Summer of Fun Plant a seed Promo Cymru l National Lottery Mind Our Futures Ted Senior Foundation WCVA - Wellbeing Ambassadors Welsh Government svywo Whole School Approach 121 7,643 135,070 37,892 11,972 70,081 47,079 59,575 24.275 143,196 22.588 5.905 19.500 2.430 30,180 162,696 25.018 41,468 18,132 6,261 113,617 25,392 1.897 66,860 20,029 6,261 123.327 595 23,754 45,397 180,470 497,834 109,633 7.689 9,686 14,720 9,710 119,848 399,275 91,141 58,416 61.579 24,063 178,264 460,854 115,204 15,363 48,728 7,240 30,341 33,300 165,733 2,164 8.016 17,527 S6.744 7,240 33,916 33,300 185.444 3,575 19,711 137,996 roRFAEN and BLAENAU GWENT BGBC Communities lor work Day Services Blaenau Gwent Mind supported self help consortium Wales NCN Blaenau Gwent East and West 14,067 16,099 33,286 14,025 14.067 16,099 33,286 14,025 2,413,317 445,801 2.859,118 1,793,942 The amounts above for the year to 31 March 2024 include six months activities of the merged charities (October 2023 - March 2024). The comparative figures relate to Mind in Gwent only. -47- Mind in Gwent Company Limlted by Guarantee Notes to the Financial Statements {¢onllnuedJ Year ended 31 March 2024 14. Analysls of support costs Group and Charlty Children in Cyp Monmouth Need - Comic Wellbeing -shire Youth Relief Ambassad county Moon Social Piece by -ors council -dance Action Fund Piece Project Housing Abergave- including nny town core costs council GAVO Staff costs Premises Travel costs Communications IT General office Govemance costs 150,580 12,803 1,875 691 10,836 2,844 5,383 13,500 2,013 81 336 522 6,000 6,049 10,265 7,500 187,197 1,875 691 10,836 5,905 19.500 2,430 Newport Newport Newport Cty Council Cty Council Mind Cymru Mind City Council Housing Skills, Active Mind Money Wellbeing Families Support training and Monitoring and Me Advisors First Grant wellbeing Plant a seed staff costs Premises Travel costs Communications IT General office Govemance costs 22.467 1.897 6,487 324 2.437 48.264 35,156 11.990 2,164 10.152 26.423 12,073 525 2,400 462 25,392 1,897 9.710 58,416 61.579 24,063 2,164 Promo INCVA - Vhole CymrulNatio Wellbeing School nal Lottery Ambassa Approach Mind our dors Futures Total 2024 Total 2023 staff costs Premises Travel costs Communications and IT General office Governance costs 4,593 243 2,640 540 3.575 12,247 336,562 13,451 68.047 7.114 13.127 7,500 270.714 70,243 7.464 7.346 7,019 8,016 3,575 19.711 445,801 355,322 The amounts above for the year to 31 March 2024 include six months activities of the merged charities (October 2023 - March 2024). The comparative figures relate to Mind in Gwent only. Mind in Gwent Company Limited by Guarantee Notes to the Financial Statements {￿ntInued} Year ended 31 March 2024 15. Net Income Group Net income is stated after chargingl(crediting): 2024 2023 Depreciation of tangible fixed assets Fees paid to the auditor (Incl. VAT).. For the audit of the financial ststements For non-audit services 78,523 36,743 13,384 4,833 8,910 Charlty Net income is stated after ¢hargingl(credibng): 2024 2023 Depreciation of tangible fixed assets Fees paid to the auditor (Incl. VAT)= For the audit of the financial statements For non-audtt services 71,372 36,743 9,177 4,833 8,910 16. Staff costs Group The total staff costs and employee beneffts for the reporting period are ana￿Sed as follows: 2024 2023 Wages and salaries Social securty costs Employer contributions to pension plans 2,260,917 196.886 109,375 1,295,282 110,806 60,155 2.567.178 1,466,243 The resutts for the year to 31 March 2024 include six months activities of the merged charities the comparative figures relate to Mind in Gwent (formerly Newport Mind) onty. The average head count of employees during the year was 110 (2023.. 57). The average number of fulktime equivalent employees during the year is anatysed as follows: 2024 No. 2023 Number of management and administrative staff Number of staff engaged on charitable activiknes 12 46 92 49 The average numbers for the year to 31 March 2024 include six months of the merged chartties the comparative figures relate to Mind in Gwent (fomierly Newport Mind) only. No employee received employee benefrts of more than £60.000 during the year (2023." Nil). Mind in Gwent Company Limited by Guarantee Notes to the Financial Statements (¢ontinu8dJ Year ended 31 March 2024 Key Management Personnel The key management personnel of the Charity are those persons having authority and responsibility for planning. directing and controlling the activitses of the Charity, directly or indirectly. including any Trustee of the Charity. In additÈon to the Trustees, key management personnel includes 1 of the Principal OffI￿r$. Aggregate remuneration and benefits paid to key management personnel during the year amounted to £62.627. Charty The total staff costs and employee benefits for the reporting period are analysed as follows: 2024 2023 Wages and salarFes Social security costs Employer contributions to pension plans 1,931,213 166,379 89,789 1,295,282 110,806 60,155 2,187,381 1.466,243 The results for the year to 31 March 2024 include six months adivities of the merged chartties the comparative figures relate to Mind in Gwent (fomierly Newport Mind) only. The average head count of employees during the year was 97 {2023: 57). The average number of fulktime equivalent employees during the year is analysed as follsyws: 2024 No. 2023 Number of management and administrative staff Number of staff engaged on charitable activities 11 68 79 49 The average numbers for the year to 31 March 2024 include six months of the merged charrties the comparative figures relate to Mind in Gwent (formerly Newport Mind) only. No employee received employee benefits of more than £60.000 during the year (2023.. Nil). Key Management Personnel The key management personnel of the Charity are those persons having authority and responsibility for planning, directing and controlling the activities of the CharÈty. directly or indirectly, including any Trustee of the Charty. In addtiion to the Trustees, key management personnel includes 1 of the Principal Officers. Aggregate remuneration and benefits paid to key management personnel during the year amounted to £62.627. 17. Trustee remuneration and expenses Group and Charlty During the year one trustee received £386 (2023.. £354) in respect of expenses reimbursed. The twstee also volunteers for the organisation, the expenses were in respect of volunteer expenses. The weekty payments were made in accordance with the volunteering policy of the organisation. Mind in Gwent Company LimAted by Guarantee Notes to the Financial Statements (contsnued) Year ended 31 March 2024 18. Transfers between funds Group and Charlty Net transfers detailed in note 26 relate to deficits made on certain projects during the year. 19. Tangible fixed assets Group Land and Fi%fiures and buildings fittings Equipment Total Cost At 1 April 2023 Additions Acquisitions through business combinations 1.700,082 305,916 9.160 149,651 8.742 1,858,893 314,658 1,388,483 3.394,481 274,022 1,662,505 3,836,056 At 31 March 2024 9.160 432.415 Depreciation At 1 April 2023 Charge for the year Transfer5 60,272 52,661 807,955 9,159 121,340 25,862 259,870 190,771 78,523 1,067,825 1,337,119 At 31 March 2024 920,888 9,159 407,072 Carrying amount At 31 March 2024 2,473,593 25,343 2,498,937 1,668,122 At 31 March 2023 1,639,810 28,311 Charity Land and Fixtures and buildings fittings Equipment Total Cost At 1 April 2023 Additions Acquisitions through business combinations 1,700,082 305,916 9,160 149,651 8,742 1,858,893 314,658 1,388,483 233,714 1,622,197 At 31 March 2024 3.394,481 9.160 392,107 3,795,748 Depreciation At 1 April 2023 Charge for the year Transfers 60,272 52,661 807,955 9,159 121,340 18,711 233,248 373,299 190,771 71,372 1,041,203 1,303,346 At 31 March 2024 920,888 9.159 Carrylng amount At 31 March 2024 2,473,593 18,808 2,492.402 1,868,122 At 31 March 2023 1,639,810 28,311 -51 Mind in Gwent Company Limited by Guarantee Notes to the Financial Ststements (contsnuedj Year ended 31 March 2024 20. Investments Charlty Shares in group undertaking Cost or valuatlon At 1 April 2023 Additions At 31 March 2024 Impairment At 1 April 2023 and 31 March 2024 Carrying amount At 31 March 2024 At 31 March 2023 All investments shown above are held at valuation. 21. Investment entities Subsidiaries and other investments Investments represent the shares held in the trading subsidiary MHFA Wales Limited. The company was incorporated in England and Wales under the Companies Act 2006 on 1st April 2010. The surpluses of that company have been transferred to Mind in Gwent in accordance with the gift deed of covenant. The shares were transferred from Torfaen & Blaenau Gwent Mind on 2 October 2023. The company owns 1 OOOA of the issued ordinary share capital of MHFA Wales Limited formerty known as Training in Mind Limited a company registered in England & Wales company number:07211462. Registered off￿e address: Unlt 1&3 1s1 Floor Church View, Ivor Street, Blaenavon, Pontypool NP4 9 2024 2023 Aggregate and Reserves 197,357 194.850 2024 2023 Profit for the financial year 2,507 23,522 -52- Mind in Gwent Company Limited by Guarantee Notes to the Financial Statements (¢onllnued) Year ended 31 March 2024 22. Debtors Group 2024 2023 Trade debtors Prepayments and accrued income other debtors 323,144 124,800 15,612 463.556 205,065 11,076 9,271 225,412 Charity 2024 2023 Trade debtors Amounts owed by group undertaking Prepayments and accrued income Olher debtors 270,893 41,591 124,800 2.111 205,065 11,076 9,271 439.395 225,412 23. Creditors: amounts falling due within one year Group 2024 2023 Bank loans and overdrafts Trade Creditors Corporation Tax Accruals and deferred income Social security and other taxes other Creditors 82,460 57.494 2,266 126,340 71.171 66,258 13,184 39,352 34,399 23,575 405,989 110,510 Charity 2024 2023 Bank loans and overdrafts Trade credtlors Accruals and deferred income Social securty and other tsxes 82,460 51,631 118,001 45,963 13,184 39,352 34,399 23,575 298.055 110,510 The bank loan is secured by a fixed charge over the assets owned by the charity. 24. Creditors: amounts falling due after more than one year Group and Charity 2024 2023 Bank loans and overdrafts 382,320 525,962 The bank loan is secured by a fixed charge over the assets owned by the charity. Mind in Gwent Company Limlted by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2024 25. Retlrement benefrt schemes Group Defined contrlbution plans The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £109,375 {2023." £60,155). Charity Defined contributlon plans The amount recogni5ed in income or expenditure as an expense in relation to defined contribution plans was £89.789 {2023.' £60.155}. Group and Charity Multi-employer pension scheme The company participates in a multi-employer scheme, operated by TPT Retirement Solutions, which provides benefits to some 950 non-associated participating employers. The scheme is a defined benerrt scheme in the UK. It is not possible for the company to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore it accounts for the scheme as a defined contribution scheme. The scheme is subject to the frjnding legislation outlined in the Pensions Act 20024 which came into force on 30 December 2005. This, together with the documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council, set out the framework for funding defined benefit occupational pension schemes in the UK The scheme is classified as a 'last-man standing arrangement,. Therefore the company is potentially liable for other participating employers, obligations if those employers are unable to meet their share of the scheme deficit following withdrawal from the scheme. Participating employers are legally required to meet their share of the scheme deficit on an annuity basis on withdrawal from the scheme. A full actuarial valuation for the scheme was carried out at 30 September 2020. This valuation showed assets of £831.9m and a deficit of £31.6m. To elirninate this hJnding shortfall. the Trustee has asked the participating employers to pay additional contributions to the scheme as follows.. Deficit contributions From 1 April 2022 to 31 January 2025: £3,312,000 per annum (payable monthly) Unless a concession has been agreed with the Trustee the term to 31 January 2025 applies. Note that the scheme's previous valuation was carried oui with a effective date of 30 Septembef 2017. This valuation showed assets of £794.9m. liabilrf(ies of £926.4m and a deficit of £131.5m. To eliminate this funding shortfall, the Trustee asked the participating employers to pay additional contributions to the scheme as follows: Deficit contributions From April 2019 to 30 September 2025: £11,243,000 per annum (payable monthly by 30/0 each on 181 April and increasing) Mind in Gwent Company Limited by Guarantee Notes to the Financlal Statements {contsnuedJ Year ended 31 March 2024 25. Retirement benefit schemes (continued) Multl4mployer pension scheme {conthuedJ The recovery plan contributions are allocated to each participating employer in line with their estimated share of the Series 1 and Series 2 scheme liabilities. Where the scheme is in deficit and where the company has agreed to a deficit funding arrangement the company recognises a liabilty for this obligation. 26. Anatysis of charftable funds Group Unrestricted funds At 1 April 2023 At 31 March 2024 Income Expenditure Transfers General Unrestricled Designated {see below) Designated - property Monmouthshire Mind - Capital reserves on transfer Monmouthshire Mind- Revenue reserves on transfer 2.344,735 (1,837,428) (284,691) 222,616 (65.133) 1,159,982 480.000 480,000 1,225,115 435,117 435,117 492,927 492,927 1.225,115 3,272.779 (1.837.428) 130,176 2,790,642 The designated unrestricted funds as at 31 March 2024 represent unrestricted funds agreed by the charty to be held as per the following agreed by the trustees: Reserves policy Property as noted below £1,159,982 £480,000 The Gwent Regional Partnership Board has agreed funding for seven new one bedroomed flats to be approved for Welsh Govemment Housing with Care funding based on a costing of an estimated Cost of £1.6 million. The amount of funding that will be provided is subject to application of the Welsh Govemmenvs Standard Viabilty Model and it is likely Mind in Gwent will need to provide at least 300A of the total so is designating the remainder of unrestricted funding for this purpose. Charity Unrestricted funds At 1 April 2023 At 31 March 2024 Income Expenditure Transfers General Unrestricted Designated {see below) Designated - property Monmouthshire Mind - Captsl reserves on transfer Monmouthshire Mind- Revenue reserves on transfer 1,576.124 (1.266,172) (284,691} 25,261 (65,133) 1,159,982 480.000 480,000 1.225,115 435,117 435,117 492,927 492,927 1,225.115 2,504,168 (1,266.172) 130,176 2,593,287 Mind in Gwent Company Limited by Guarantee Notes to the Financial Statements {¢onllnu Year ended 31 March 2024 26. Anatysis of charftable funds (con&nuedJ The designated unrestricted funds as at 31 March 2024 represent unrestricted funds agreed by the charity to be held as per the following agreed by the twstees: Reserves policy Property as noted below £1,159,982 £480,000 The Gwent Regional Partnership Board has agreed funding for seven new one bedroomed flats to be approved for Welsh Government Housing with Care funding based on a costing of an estimated cost of £1.6 Mill￿n. The amount of funding that will be provided is subject to application of the Welsh Govemment's Standard Viabiltty Model and it is likely Mind in Gwent will need to provide at least 30Yo of the total so is designating the remainder of unrestricted funding for this purpose. Charity At 31 March 2023 1 April 2022 Income Expenditure Transfers General unrestricted Designated 504,652 (470,835) (33.817) 33.817 1.191,298 1,225,115 1,191,298 504,652 (470,835) 1,225.115 The designated unrestricted funds as at 31 March 2023 represent unrestricted funds agreed by the charty to be held as per the following agreed by the trustees: Reserves policy £556.298 Building improvements £668.817 On 30 September 2023 the assets, liabilities and activities of Mind MonmoLrthshire Limited by Guarantee Registered in England & Wales company registration number 04715435 registered office Henton House 28 Monk Street Abergavenny Gwent NP7 5NP and Torfaen and Blaenau Gwent Mind Limited by Guarantee Registered in England & Wales company registration number 05059087 registered office 24 George Street Pontypool NP4 6BY were transferred to Mind in Gwent. The assets transferred from Mind Monmouthshire only are designated for use in the geographical area of Monmouthshire Mind. The results for the year to 31 March 2024 include six months aclivities of the merged charities (October 2023 - March 2024). The comparative figures relate to Mind in Gwent (formerly Newport Mind) oniy. -56- Mind in Gwent Company Limited by Guarantee Notes to the Financial Statements {¢onllnued) Year ended 31 March 2024 26. Analysis of charitable funds (conthuwfj Group and Charlty lestrlcted funds At 1 April 2023 At 31 March 2024 Income Expenditure Transfers IONMOUTHSHIRE ,bergavenny Town Council Jarfield Western JAVO iwent Dementia lind Active Monitoring lonmouthshire County Council lonmoLrthshire County Council Rural project Jnding loondance IEWPORT ash 4 U Grant ,hildren In Need - Youth Social Action Fund omic Relief Piece by Piece IWP Kickstart IAVO - Plant a seed ome Office EU Settlement Scheme lind Active Monitoring lind Co-op Resilience fund 'Systems Change, lind CYP Wellbeing Ambassadors project lind Money and Me lind Peer Support Hub Project lind Small Grants lind Wellbeing Advisors Children and Young eople ewport Cty Council- Families First ewport City Council- Our Voice Our Choice ewport City Council Early Help Support PBP ewport City Council Housing Support Grant ewport Cty Council Skills, training and wellbeing ewport City Council Summer of Fun romo Cymrul National Lottery- Mind Our Futures estricted fixed assets d Senior Foundation ICVA Landfill Disposals Tax Communities Scheme ICVA Wellbeing Ambassadors lelsh Government svywo Ihole School Approach DRFAEN and BLAENAU GWENT CN Blaenau Gwent East and West ind Supported self-help consortium Wales JCBC Communities for work ay Services Blaenau Gwent 10,000 4,167 16,963 788 23,579 26,081 (21,574) (4,167) (11,901) 1788) {16.499) (28.314) (11,574) 5,062 7,080 (2,233) 46,036 17,953 (40.139) (18,072) 5,897 (119) 19.003 64.516 21.801 76.980 (30,180) {162.696) 10,624 {21,200) (5.486) 8.875 (17,527) (14,138) 47,158 (50.361) 3,203 -2.356 30.159 20.500 (25.018} (20,029) {2,785) (471) (7.207) 7,207 9.773 {5.473) 4,300 32.973 85,246 177,206 {123,327} (178,264) (5,108) 1,058 2.157 2,157 546.719 120.520 (460.854) {115.204) (85.865) (5,316) 15.682 309,162 59,599 (56,744) 18.537 283.000 (1,801) 40,999 43,878 {26,162) 5,439 40.999 Tl.794 39.931 143,668 (7.240) (33.916) (33,300) {185,444) (6,631) 103.196 61.420 (14,025) {33,286) 114,067) {16,099) (14,025) (5,721) 4,105 2.471 27,565 18,172 18,570 546.054 1.722.241 (1,724.508) (130,178) 413,611 Mind in Gwent Company Limited by Guarantee Notes to the Financial Statements (¢onbnued) Year ended 31 March 2024 26. Analysis of charitable funds (contlnue Charity At 1 April 2022 At 31 March 2023 Income Expenditure Transfers NEWPORT ONL Y Cash 4 U Grant Children In Need - Youth Social Action Fund Comic Relief Piece by Piece DWP Kickstart GAVO - Plant a seed Home Office EU Settlernent Scheme IACT and PEERS Lottery Community fund Mind Active Monitoring Mind Co-op Resilience fund 'Systems Change. Mind CYP Wellbeing Ambassadors project Mind Get Set to Go Mind Influence & participation development grant Mind Peer Support Hub Project Mind Small Grants Mind Wellbeing Advisors Children and Young People Moondance National trust- HAPPY Project Newport City Council - Families First Newport City Council- Our Voice Our Choice Newport City Council Covid Recovery fund Newport City Council Early Help Support PBP Newport City Council Housing Support Grant Newport City Council Skills, training and wellbeing Newport City Council Summer of Fun Paul Hamlyn Promo Cymrul Nattonal Lottery- Mind Our Futures Restricted fixed assets Waterloo Foundation WCVA- VSEF Small Grant Whole School Approach 121 (121) 26.646 152,392 11,972 4,200 103,981 (7,643) (135.070) {11,972) (9,686) 170,081) 19,003 64,516 47.194 {5.486) (33.900) 8,699 50.876 (59.575) 11.329 35,750 {47,079) 17,653 17,883 (37,892) {2,356) 6,207 (405) 1.000 1.000 7,207 (595) 56,727 (23.754) 32,973 226 180,244 (180.470) 2.157 2,157 45.397 (45.397) 497,834 {497.834) 902 108.731 7,689 (109,633} (7,689) 30,402 50,000 (14,720) {44.359) 15,682 309,162 303,521 45,323 195.869 (137,996) 103,196 409,027 1,578,593 (1,441,566) 546,054 Mind in Gwent Company Limited by Guarantee Notes to the Financial Statements f¢ontthu Year ended 31 March 2024 26. Analysis of charttable funds (¢ondnued) MONMOUTHSHIRE Abergavenny Town Council - Funding allocated for delivering wellbeiNJ courses spectfically for the Abergavenny area. Garfleld Weston - Supports the Active Monitoring self-help wellbeing program. GAVO (Gwent Association of Voluntary Organisations)- Funding for Monmouthshire's Active Monitoring program targeted at young people. Gwent Dementia- Dedicated to supporting patients with a diagn¢YSiS of dementia. Mlnd - Funding for the Active Monitoring self-help wellbeing program. Monmouthshire County Council - Social prescribing initiative to deliver wellbeing courses in the Monmouth area. Monmouthshire County Council (Rural Project Funding)- Supports wellbeing hours for farmers in rural areas. Moondance - Provision of a Wellbeing Team Lead to ensure the continuity of wellbeing team services. NEWPOR T2024 Mlnd Money and Me - This project is a 6-week programme delivered 1.1 to individuals. It was specifically designed lo offer tools and support in understanding the impact that money can have on mental health and wellbeing. Over the 6-week period we look at a variety of topics depending on what is important to the individual. These are more often focused on relationship with money, understanding how worry. uncertainty and anxiety can play a part. Funded by National Mind this was delivered to a number of groups and individuals over the course of the funding. Many conversations and interventions also took pla￿ in the local community, supporting anyone who had concerns or questions about how to manage their money. Ted Senior Foundation- funding to provide suicide prevention courses across Gwent during the year. WCVA Landfill Disposals Tax Communities Scheme -This fund seeks to improve the environment for communities near landfill sites, and granted us funding to install solar panels at our premises in Newport. WCVA Wellbeing Ambassadors The Wellbeing Ambassador project. recruits, trains, and engages young volunteers aged 14-25 years across Gwent. The Wellbeing Ambassador project champions co-production and the participation of young people in all aspects of sepiice design. delTvery and evaluation.. highlighting the power of the voice of young people and those wtih adverse experience and challenges, promoting the inclusion of young people's voices in governance roles wrthin the organisation. As part of this work, we also facilitate a Communty of Practice and continue the work of the Youth Voice Group to share learning and involve young people in Govemance. -59- Mind in Gwent Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2024 26. Analysis of charitable funds (Contlnuedj Welsh Government SWIWO - The Strategic, Voluntary Youth Work Organisation Grant is a core services grant to support organisation in providing and developing youth work opportunities for young people aged 11 to 25. This unique grant only funds core staff costs to allow youth work to develop, flourish and embed in organisations. Over the last knjo years the SVYWO grant has allowed Newport Mindlmind in Gwent to employ a Children, Young People and Families Manager to bring youth work practices to life in the organisation. NEWPORT2023 Children In Need Youth SocTal Action Fund An 18 month grant to empower children and young people in Newport to deliver Social Action in their communty. Comic Relief Piece by Piece - Mental health support for young people aged 11-25 and their familEs who have recently experienced a trauma. Offering 1.1. group and communty based support funded until 31 sl of December 2023. DWP Kickstart - The Kickstart Scheme provides funding to employers to create jobs for 16 to 24 year olds on Universal Credf(. Prciect proved unviable and ended December 2022. GA VO - Plant a seed - Working with Natural Resources Wales this group will involve people cooking something new or visiting somewhere new and feeling inspired to do that again, with the help of Newport Mind funded until January 2024. Home Office EU Settlement Scheme - servi￿ to provide advice and assistance with EU Settlement Scheme funding ended 30th of November 2022. Mind Active Monitoring Mind Active monitoring has now been retitled to Supported self-help and is a free, 6- week guided programme. We give you the materials to understand and manage your feelings. And we call you regularly to give you support. Funded until 31st of March 2024. Mind Co-op Restlience fund 'Systems Change. This prqect looks to increase the volunteer diversity and representation, particularly from LGBTQIA+ and BAME backgrounds, young men and those living in deprived areas of Newport. This will help us achieve the following four core outcomes: 1 Young people who previousty would not have thought to access wellbeing, mental health services or support from Newport Mind will start to access these provisions. 2 Young people and the communtiies they engage in viill become more accepting and open to conversations about the mental health and well-being of young people. 3 - Encouraging mental health conversations amongst young men. deprived, BAME and LGBTQ+ communities across Newport, both among young people and with the trusted adults in their Itves. 4 - Young People will learn simple tools to self-recognise their own wellbeing to enable preventative steps to build better resilience. Prqect ended October 2022 Mind CYP Wellbeing Ambassadors project - Volunteering opportuntties for young people aged 14-25 to become a Wellbeing Ambassador who feel passionately about making sure young people are supported with their mental health. -60- Mind in Gwent Company Limited by Guarantee Notes to the Financial Statements (¢{￿￿nUtdj Year ended 31 March 2024 26. Analysis of charitable funds {ContinuedJ Mind Peer Support Hub Project- A Peer Support Hub works to improve capacity of indNiduals and Community based organisations (CBOS) to lead irnpactful peer support activty by: i. Running training and networking evenls for peer supporters to facilitate shared leaming ii. Providing 1..1 support and advice iii. Administering a small in-kind grant for peer support groups to support new and existing projects iv. Promoting the value of community-based peer support to local mental heatth service provider5 and commissioners. Funding ended 2022 Mind Small Grants- Small grants from Mind. Mind Wellbeing Advisors Children and Young People - The wellbeing advisers are here for young people aged 11-24 who are feeling down or worried. They can help young people find the right help. Then they'll catch-up with them further down the line to see how things are going. Newport City Council - Families First - The Family Wellbeing & Resilience service is part of the Families First scheme in Newport. Our role is to support those aged Ck18 year olds and their families to build and maintain resilience to mental health drfficutties. funded until 31 st of March 2025. Newport City Council - Our Voice Our Choice- a furid to help participants wilh personal budgeting support Newport City Council Earty Help Support PBP - Short tem funding to support Piece by Piece Project. Newport City Council Housing Support Grant- Housing and tenancy support for people living in Newport Mind's supported accommodation and to people in the communty. yearly funded. Newport City Council Skills, training and wellbeing The funding is used to provide information, advice and assistance appointments to people contacting Newport Mind to find out what matters to them and what support they need. In addition the funding supports a wide range of adivity and peer support groups, yearly funded. Newport Clty Co￿n¢¥I Summer of Fun - Funding to provide Summer activities for young people in Newport over the Summer school holidays 2022. Promo Cymrul National Lottery - Mind Our Futures - Mind our Future Gwent (MOFG) is a five year until August 2027 £999,888.00 National Lottery Community Funded project delivered by ProMo£ymru and Newport Mind. Our project partners also include local Minds and youth servI￿S in Gwent. The programme aims to empower young people to create and implement a vision for a more resilient and mentally healthy future for young people in their community. Throughout the project. Promo and Newport Mind will support young people to Cowdesign and develop new solution-focused approaches to young people's mental health and resilien￿ using service design methodology. Restricted fixed assets - Buildin9 work commenced prior to the beginning of the financial year in March 2022 and continued throughout the year. 61 Mind In Gwent Company Limlted by Guarantee Notes to the Financial Statements [￿n￿nued) Year ended 31 March 2024 26. Anatysis of charitable funds {Contlnu•d) Whole School Approach - A prciect providing a range of schookwide and focused mental health interventions to the students. staff. parents and carers of the primary, secondary and alternative s¢hi)ol communities in Newport. TORFAEN and BLAENAU GWENT Blaenau Gwent County Borough Council - Open access to drop In prowsion in the borough of Blaenau Gwent. This funding provided by BGCBC supports the delNery of wellbeing services. offering information, advice and practical assistance through a Drop In model of service delrvered from the Phoenix Project in Brynmawr. Communities for Work Project (funded by Welsh Government through GAVO & BGCBC) This funding supports the delivery of advice and information to adults wf(h a mental health condition in accessing or to return to training and education and work based opportunities across the county of Blaenau Gwent. The service is based at TBG Mind's Phoenix Prcfject in Brynmawr. Supported Self Help Project {funded by NCN East & West Blaenau Gwent ABUHB) - This supports the delivery of an integrated 6 week intervention programme for adults with pwr mental health who may be at or near a point of crisis. The service available for the community of Blaenau Gwent. Torfaen County Borough Council- Open access to drop In provision in the borough of Torfaen. This funding provided by TCBC supports the delivery of wellbeing sermces, offering information, advice and practica assistance through a Drop In model of service delivered from the Wellbeing Centre in Pontypool. Supported Self Help Project (funded by National Mind) - This supports the delivery of an integrated 6 week intervention programme for adults with poor mental health who may be at or near a point of crisis. The service available for the community of Torfaen and Blaenau Gwent. 27. Analysis of changes in net debt Group At At 1 Apr 2023 Cash flows 31 Mar 2024 Cash at bank and in hand Debt due within one year Debt due after one year 514.107 {13,184) (525,962) (25.039) 487,403 {69,276) 143,642 1,001,510 (82,4601 (382,320) 536,730 561.769 -62- Mind in Gwent Company Limited by Guarantee Notes to the Financial Statements (contvnuedj Year ended 31 March 2024 28. Analysis of net assets between funds Group Tangible Net current fixed assets assets Total 2024 Rastricted Funds.. Monmouthshire Abergavenny town council GAVO Mind Active monitoring Monmouthshire County Council Monmouthshire County Council Rural Project Moondance Newport Children in Need - Youth Social Action fund Comic Relief Piece by Piece Plant a seed Mind Small grants Mind Wellbeing Advisors Child￿n and young people Newport Cty Council - Our voice our choice Promo Cymru l National Lottery- Mind our futures Restrided Fixed Assets - Welsh Government Ted Senior Foundation WCVA Landfill Disposals Tax Communities Scheme WCVA Wellbeing Ambassadors Imiole School Approach Torfaen and Blaenau Gwent NCN Blaenau Gwent and West Mind Supported self-help consortium Wales BGCBC Communitres for Work Day SeNices Blaenau Gwent (11,574) 5.062 7.080 {2,233) 5,897 (119) (11,574) 5,062 7,080 (2,233) 5,897 1119) 10,624 (21,200) (14,138) 4.300 {5.108) 2,157 18.537 10,624 (21,200) (14,138) 4,300 {5,108) 2,157 18,537 283,000 (1.801 } 40,999 43,878 61.420 283.000 (1,801) 40,999 43,878 61.420 (14.025} (5.721) 4.105 2.471 (14,025) (5,721 } 4,105 2,471 283.000 130,611 413,611 Unrestricted Unrestricted Funds Unrestricted - Monmouthshire Capital funds Unrestricted - Monmouthshire Revenue funds 1.780,820 435.117 81.778 1,862,598 435.117 492,927 492,927 2.215.937 574.705 2.790,642 Total Funds 2.498,937 705,316 3,204,253 -63- Mind in Gwent Company Limited by Guarantee Notes to the Financial Statements (contsnuedj Year ended 31 March 2024 Charity Tanglble Net current fixed assets assets Total 2024 Restricted Funds: Monmouthshire Abergavenny town council GAVO Mind Active monitoring Monmouthshire County Council Monmouthshire County Council Rural Project Moondance Newport Children in Need- Youth Social Action fund Comic Relief Piece by Piece Plant a seed Mind Small grants Mind Wellbeing Advisors Children and young people Newport Cty Council- Our voice our choi Promo Cymru l National Lottery- Mind our futures Restricted Fixed Assets- Welsh Government Ted Senior Foundation WCVA Landfill Disposals Tax Communities Scheme WCVA Wellbeing Ambassadors Whole School Approach Torfaen and Blaenau Gwent NCN Blaenau Gwent and Wesl Mind Supported self-help consixtium Wales BGCBC Communities for Work Oay SeNices Blaenau Gwent {11,574) 5,062 7.080 (2.233) 5,897 (119) 111,574) 5,062 7,080 (2,233) 5,897 (119) 10,624 {21,200) {14,138) 4,300 (5,108) 2,157 18,537 10,624 (21.200) (14,138) 4,300 (5,108) 2,157 18,537 283,000 (1,801) 40,999 43,878 61.420 283,000 (1,801) 40.999 43.878 61,420 (14,025) (5,721) 4,105 2,471 {14,025) {5,721) 4,105 2,471 283,000 130,611 413,611 Unrestricted Unrestrteted Funds Unrestricted - MonmoLrthshire Capital funds Unrestricted - Monmouthshire Revenue funds 1.774.285 435.117 {109,042) 1,665,243 435,117 492,927 492,927 2.209,402 383,885 2.593,287 Total Funds 2,492.402 514,496 3,006.898 Mind in Gwent Company Limited by Guarantee Notes to the Financial Ststements (¢onrfnued) Year ended 31 March 2024 28. Analysis of net assets between funds (cor￿nued) Charity Tangible Net Cu￿ent fixed assets assets Total 2023 Restricted Funds: Newport only Children In Need - Youth Social Action Fund Comic Relief Piece by Piece Plant a seed Mind CYP Wellbeing Ambassadors project Mind Peer Support Hub Project Mind Wellbeing Advisors Children and Young People Newport Cty Council- Our Voice Our Choice Promo Cymru / National Lottery- Mind Our FLrtures Restricted r￿ed assets Whole School Approach 19,003 64,516 {5,486) (2,356) 7,207 32,973 2,157 15,682 19,003 64,516 (5,486) (2,356) 7,207 32,973 2,157 15,682 309,162 103,196 309.162 103.196 309.162 236.892 546.054 Unrestricted Funds 1.358,960 (133,845) 1,225,115 Total Funds 1,668.122 103.047 1,771,169 29. Operating lease commitments The total future minimum lease payments under non-cancellable operating leases are as follows: Group 2024 2023 Not later than 1 year Later than 1 year and not later than 5 years Later than 5 years 13,505 5,138 4,000 1,080 22.643 1.080 Charlty 2024 2023 Not later than 1 year Later than 1 year and not later than 5 years Later than 5 years 4,505 5,138 4.000 1,080 13,643 1,080 30. Limitation of auditors Ilablllty By way of a members, resolution daled 15 December 2023. the company has agreed to enter into a limited liabilty agreement with its auditors whereby their exposure to legal claims is limited to £50,000 per claim. -65- Mind in Gwent Company Limited by Guarantee Notes to the Financial Statements (confr"nueul Year ended 31 March 2024 31. Related parties The company was under the control of the Trustees throughout the current and previous year. The company owns 100°/o of the issued ordinary share caprtal of MHFA Wales Limited former known as Training in Mind Limited a company registered in England & Wales company number:07211462. Registered office address: Unit 1&3 1st Floor Church View, Ivor Street, Blaenavon, Pontypool NP4 9NA. The shares were transferred from Torfaen & Blaenau Gwent Mind on 2 October 2023. As at 31 March 2024 a donation of £41,591 was gifted to the charity from the wholly owned subsidiary MHFA Wales Limited in accordance with the deed of covenant. As at 31 March 2024 the subsidiary MHFA Wales Limited (xyed the charity £41,591. -66-