Charity rngistration number 1062884 Company registration number 3380601 (England and Wales) BRAINS MATTER CHARITY ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
BRAINS MATTER CHARITY LEGAL AND ADMINISTRATIVE INFORMATION Patron Chloe Teacher Vlce patron$ TonyAdam5 MBE Greg Clark MP Pam Munro MBE Professor Michael Oddy Prosldènt Judy Horwood Board of trusteos J Clark-Wlson J Barker E Fardell E Johnson J Kennedy S Pearce P Lester (Appointed 7 March 2024) SecreLIry E Fardell Key managoment personnel Kevin Bottrell (Business manager) Charfty number 1062884 Company number 3380601 C•ntre & Reglstered offic• 3 Culverden Park Tunbridge Wells Kent TN4 9QT 01892 619001 info@brainsmatter.or9.uk Y•ww.brainsmatter.org.uk Independont oxamlner Foot Davson Ltd Lonsdale Gale, Lonsdale Gardens Tunbridge Wells Kent TN1 1NU Bankern CAF Bank 25 Kings Hill Avenue West Malling Kent ME19 4TA Investment advlsors Evelyn Partners 25 Moorgate London EC2R 6AY
BRAINS MATTER CHARITY CONTENTS Page Trustees, report Slatemènl of responsibilities Independent examinels report Statement of financial a1VitieS Balance sheet 9-10 Notes to the financial statements
BRAINS MATTER CHARITY REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023 The truslees present their annual report and financial statements for the year ended 31 December 2023. The financial slatements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charitable company's governing document. the Companies Act 2006 and "Accounting and Reporting by Charities.. Slalement of Recommended PTactiGe applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applirAble in thè UK and Republic of Ireland {FRS 102)" leffeclive 1 January 2019). OBJECTIVES AND ACTIVITIES Objectives The Charity's objectives are set out in the Memorandum of Association are lo: Advance, promote and assist in the rehabilitation of persons who have suffered head injuries resulting in brain damage and who reside in the area al which the Charity's activities are targeted {as determined by the Charity from time to limel. by the provision of such seNices and facilities as may from lime to lime be delermined by it., Support. inform and guide carers and families of people who have suffere(J head injuries: and Maintain, develop and manage a Centre to assist with the rehabililalion of head-injured peisons and lo co- operate wilh any olher bodies in the mainlenance and management of such a Centre for the carrying on of all such activities as may be promoted by the Charity in furtherance of its object. The Charity also has the general aim to support preventative measures to reduce the incidence and severity of brain injury. The trustee5 have paid due regard to guidance issued by the Charity Commission in deciding what activilies the charitable company should undertake. Actlvities To achieve these objectives the Charity carries out the following activities: Communicates the range of the Charity's seprfices to local authorities, h8alth¢are providers and the general public., Provides Centre based seNices for Ihose living with brain injury, their families and carers., Provides Drop-ln seNices for those living with brain injury, their families and carers., Provides a one to one wellbeing support servi¢è within the community.. Idenlrfies a range of appropriate activities that meet the needs of ils service users, their families and Carers; Undertakes fundraising aclivilies lo generate income lo meet the Charity's objectives., and Ensures that all staff and volunteers receive the training and support necessary in their work. The Cenlre based service is provided in Tunbridge Wells, ¢urrenlly thrèè days a week. The Charity receives payments from KCC, who pay a portion of the daily costs for individual users. Fees are also received from privale Users. The Charity has provided Drop-ln ntre$ based in Sevenoaks. Maidstone and TunbTid9e Wells. The Charrty has a Community Wellbeing Service, which has provided valuable support to those requiring the additional help of a support WOTker on a one to one basis. Public Benefit The specialist requirements for assisting children preclude the Charity from providing services to children with brain injury under the age of eighteen. Otherwise, the Charity's services are available to all people with a brain injury, subject lo an assessment of need, regardless of rac£, gender, religion, ethniGity or social grouping. The Iruslees ¢onfimi that they have considered the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charily's aims. objective5 and operations. They are satisfied that the provision of services ensure5 Ihat the public benefit requirements are fully met.
BRAINS MATTER CHARITY REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 ACHIEVEMENTS AND PERFORMANCE Charitable activities The charity has developed over Ihe past year to deal with the challenging landscape that many small charities and groups are facing. With Local Authority cutbacks funding is increasingly difficult lo obtain, the ever-rising cost of living means utilities and other oulgoings have increased greatly and grant giving Irusts and foundalions are scaling back on their grant making activities in all but their key priority areas. The Board of Trustees have worked closely with Kevin 8ottrell the charrty's Business Manager to monitor and review the financial status of the charity, the services provided and the needs of the Brains Matter client group, In the pasi year new pro¢esses and proceduTes have enabled the charity to become more agile and responsive lo external factors. The charity has adopted a 'whole team, approach lo development. All staff members are involved in fundraising markeling and networking and regular team meetings ensure that staff are working lo a common goal and that joined up working is in place. In the Tunbridge Wells Activity Centre there has been an increase in the range of activities provided with all activities aimed al encouraging neuro-rehabilitation and in¢lude a greater emphasis on physical aclivilies to support strength and balance and handleye coordination. Arts and craft sessions remain popular wilh Clients as do quizzes and word games. These activities are all supported by a small team of dedicated volunteers. We have a new full lime Wellbeing CoordinaloT following ihe retirement of our tsvo part lime Staff. Our new team member brings with her a wealth of experience and the Wellbeing Service continues lo provide a valuable community based seNi¢e with staff providing one to one support lo clients with brain injury to help them achieve set goals and aspirations. The Maidstone drop in moved to a new venue this year and attendee numbers remain steady. This year we have introduced talks from héalthcare professionals on top1¢5 chosen by our clients. Sevenoaks drop in remains popular wrth a small number of clients who value the opportunity to meet friends in a relaxed community environment. Through our networking and promotional activities excellent links and relationships are being built with healthcare professionals, key personnel with Kent County Council, charities and community groups and local businesses and sports clubs. We have been well supported by the local voluntary sector wilh us sharing information and resources, referring clients lo each other and making use of networks and contacts. Working with a specialist Brain Injury fimi of solicitors we have an ABI navigator working across hospital srtes and rehabilitation seNios lo support clients with brain injuries and their families and raise the profile and presence of the charity in the community. Our online presence has increased greally this year across our upgraded website and social media platforms. The website is updated regularly with news and information for clients and their families. Our social media is very active with a mixture of client slories, information about brain injury and news of what our dients have been doing with us and the trips we have been on. We have a new website coming online in August 2024. The new website will be easier to navigate and will have a new look and additional features such as a web shop, an enhanced infomalion library and more inleractive pages. We produce a newsletter every months and the mailing list for this has nearly doubled over the last year. The newsletter contains informalion, stories. dates for the diary regarding upcoming events and pictures of clients engaging in a variety of activilies. We welcome feedback and contributions from clients, family membèrs and other ocal charities and community groups.
BRAINS MATTER CHARITY REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Staff Kevin Bottrell the Charity's Business Manager continues to lead Brains Matter and conducted a root and branch review of charity operations and is reducing outgoings whilst increasing Ihe range and scope of activities and seNices for clients and families. Deputy Manager Lisa-Rae Brough supports clienls and is developing links with community groups and local businesses Jane Stanley, our Finance Officer looks after the charity's finances with Kevin, pays bills and sends out invoices and manages much of the day lo day facilities functions. This year Jenny Wlson moved on to a student support role with a local school. We have employed Julie Hemsley and Katie Hughes lo the roles of Activities Coordinators. Both bring a greal deal of experience and have brought a fresh outlook to our centre-based provision and have introduced a number of new a¢tivities. Julie and Katie also plan future events and look after our social media. newsletter and website functions. Sarah LeefethGriffilhs and Julie Ransom (the Wellbeing Team) both retired in Mar¢h 2024. Our new, full time Coordinator Tyne Chambers has joined the team and is working wilh clients on a one-to-one basis both in their homes and in community settings. Our ABI Navigator role is currently vacant and we are searching for a suitable Candidate to join the team. Our ABI and hospital Work is presently being covered by other leam members. Trustees The Board of Trustees have rna1ned consislent over the past year. Unfortunately Angela Miles had lo leave in March 2024 but Paul Lesler. from Cripps Solicitors, has been welcomed on the board and has provided invaluable support. The Trustees have regular meelings and any ¢ommunication. as required to support any decisions that have needed to be made for future development of the charity. FINANCIAL REVIEW Balance Sheet At 31 December 2023 the Charity had lolal reserves of £524,836 as delailed in note 20 to the accounts. The premise5 at 3 Culverden Park have a net book value of £497.526 and are owned outright. S.O.F.A. For the year ended 31 December 2023 the Charity had a net deficit of £26,073. The Charity's existin9 core activities providing Ihe day services {including the Dropln services and an informationl support seNice) generated £54,533 in fee income and incurred £183,524 in associated unrestricted expenditure. This resulted in a deficil of £128,991 which was primarily funded from reserves. The Wellbeing Support activity generated £21,329 income during the year and incurred £20,897 in association unrestricted expenditure. This resulted in a surplus of £432. Donations and legacies of £73,448 were received.
BRAINS MATTER CHARITY REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Reseryes policy Note 20 lo the accounts show the assets and liabilities attributable lo the various funds. Unrestricted funds have been used during the year to fund the deficit arising. The Irustees. reserves policy is reviewed on an annual basis and aims to maintain unreslficled funds as a level to allow sufficient liquidity for nomial operations, to support the development of servicès and activities provided by the Charity and Provide for a reasonable sum for contingencies. The reserve position is considered alongside the Charity's annual budget and forecasl cash flow requirements. Whils1 reserves remain low, positive changes are being seen in the Charity's financial position and il remain5 priority of the trustees and business manager to ensure reserves are replenished as soon as possible lo ensure we are operating in line with our reserves policy. PLANS FOR FUTURE PERIODS Whilst nol reflected in this year's financial results, plans for the future remain extremely positive. Financial support by way of a part loanlpart grant has been provided by the Charity's bank and these funds will enable the Charily lo continue with ils strategic development plans. The Changes introduced by the business manager and his laam have started to have a po$ilive impact, not just on the financial position since the year end but also within the Charity itself and among the trustees, staff, volunteers. and clients. STRUCTURE, GOVERNANCE AND MANAGEMENT Govemlng Document Brains Matter Charity is a company limited by guaranlee governed by ils Memorandum and Articles of Association dated 3 June 1997 as amended by special resolutions daled 2 July 2012 and 15 May 2017. 11 is registered as charity With the Charity Commission, number 1062884. The trustees. who are also the directors for the purpose of Company law. and who served during Ihe year and up lo the date of signature of the financial statements were.. J Clark-wilson J Barker E Fardell E Johnson J Kennedy S Pearce A Miles P Lesler (Retired 17 March 2024) (Appointed 7 March 2024> Appolntment of Trustees The President, Chairman, Treasurer. Company Secretary and other trustees are elected by members at the Annual General Meeling and seNe until the conclusion of the following Annual General Meeting. As part of the selection process, due consideration is given to the individual's personal knowledge and the experience they would bring to the governing body. The Charity complies with the requirements of the Charity Commission for governance. This includes the induction and training of Iruslees, staff and volunteers. Organisation The board of trustees, which can have up lo 12 members, administers the Charity. The trustees meet regularly to manage its affairs. The day-lo-day adminislralion of the Charity is delegated lo the Business Manager.
BRAINS MATTER CHARITY REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Rlsk management The trustees have examined the major risks lo which the charity is exposed and have developed systems to mitigate any impact they may have on the charity's future. It IS Tecognized that no system can give an absolute assurance againsl major risks. Dlsclosure of Infomiatlon to Independent examlner In so far as the trustees are aware at the lime of approving the truslees, annual report., There is no relevant information of which the charitable company's independent examiner is unaware, and The trustees have taken all steps that they ought to have taken to make themselves aware of any relevant information and lo establish that the independent examiner is aware of that infomiation. The report was approved by the Board of Trustees. J Clark-wilson Chalmian Date..
BRAINS MATTER CHARITY STATEMENT OF RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees. who are also the directors of Brains Matter Chaflty for the purpose of company law, are responsible for preparing the Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards {Uniled Kingdom Generally Acceptèd Accounting Practice). Company Law requires the twslees to prepare financial statements for each financial year which give a true and fair view of the slate of affairs of the ¢harilable company and of the incoming resources and application of resources, including the income and expendrture, of the charitable company for that year. In preparing these financial statements, the truslees are required to.. select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP,. make judgements and estimates that are reasonable and prudent., state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements, and prepare the financial statements on the going concern basis unless it is inappropriate lo presume that the charitable Company will conlinue in operation. The trustees are responsible for keeping adequate accounting records Ihal disclose with reasonable accuracy al any time the financial position of the charitable company and enable them lo ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safegLsarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and inlegriiy of the charity and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial slalemenls may differ from legislation in other jurisdictions.
BRAINS MATTER CHARITY INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BRAINS MATTER CHARITY I report lo the trustees on my examinalion of the financial statements of Brains Matter Charity (the charitable company) for the year ended 31 December 2023. Responsibilities and basis of report As the trustees of the charrtable company {and also its directors for the purposes of company law) you a responsible for the preparation of the financial statements in accordance with the requirements of the Companies Acl 2006 (the 2006 Act). Having satisfied myself that the financial statements of Ihe ¢haritable Company are not required to be audited under Part 16 of Ihe 2006 Act and are eligible for independent examination, I report in Tespecl of my examination of the charitable company's financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Chariiy Commission under sedion 145(5>{bl of the 2011 Act. Independent examlnevs ststement I have completed my examination. I confirm that no matters have come lo my attention in connection with the examination giving me Gause lo believe that in any material respe¢t'. a¢ttsunling records were not kept in respect of Ihe chantable company as required by section 386 of the 2006 Ad; or the financial statements do not accord with those records; or the financial statements do not comply with the accounting Tequirements of section 396 of the 2006 Act other than any requirement that the acGounls give a true and fair view which is not a matter considered as part of an independent examination., or the financial statements have not been prepared in a¢¢ordance with the methods and principles of the Statement of Recommended Practice for a¢¢ounling and reporting by charities applicable to charilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102). I have no concerns and have come across no other matters in connection wrth the examination to which attention should be drawn in this report in order to enable a proper underslanding of the financial slalemenls lo be reached. an der MeThve ACA FOT and on behalf of Foot Davson Ltd Chartered accountants and registered audttor Tunbridge Wells Kent TN11NU
BRAINS MATTER CHARITY STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestricted Rostrlctèd fvnds funds 2023 2023 Total Unrestrictsd Restricted funds funds 2022 2022 Totsl 2023 2022 Note8 Income from: Donations and legacies Charitable activities Other trading activities Investments 72.588 115,862 26,535 111 860 73,448 115.862 26,535 111 41,790 59,552 4,030 870 1.320 43,110 59,552 4,030 870 Total Income 215.096 860 215.956 106.242 1,320 107,562 Expenditure on: Raising funds Charitable activities 1,624 232,086 1,624 240,405 1,197 193,374 1,197 201,853 8,319 8.479 Total expondlture 233,710 8,319 242,029 194,571 8,479 203,050 Net galnsl{lossesl on investments 12 13,547) (3,547) Net expendlture and movement in funds {18,614) {7,459) (26,073) (91,876) (7,1591 (99.035) Re¢onclllatlon of funds: Fund balances at 1 January 2023 273,958 276,951 550.909 365,834 284,110 649,944 Fund balances at 31 December 2023 255,344 269,492 524,836 273,958 276,951 550.909 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
BRAINS MATTER CHARITY BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Note$ Flxed assets Tangible assels Inveslmenls 14 16 498,781 512.767 498,781 512,776 Current assets Debtors Cash at bank and in hand 16 19.079 121,287 5,672 40,363 140,366 46.035 Credltorn: amounts falllng due wlthln one yèar 18 {24,535) {7,902) Net CU8nt assets 115,831 38,133 Total assets le88 cumnt Il•blllllt8 614,612 550.909 Credltors: amounts falling duo after more than one year 19 (89,776) Net assets 524,836 550,909 Income funds Reslricled funds nr ted fun Designated funds GeneTal unrestricted funds 21 269,492 276,951 22 233,424 21,920 239.865 34.093 255,344 273,958 524,836 550,909
BRAINS MATTER CHARITY BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2023 The company is entitled lo the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2023. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required the company lo obtain an audit of its financial statements for the year in question in accordance with section 476. These financial slatements have been prepared in accordance with the provisions applicable lo companies subjecl to the small companies regime. The financial statements were approved by the Trustees on J Clark-wilson Chainnan J Barker Treasurer Company reglstration numbor 3380601 10-
BRAINS MATTER CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting pollcles Charlty Infomiatlon Brains Matter Charity is a private company limited by guarantee incorporated in England and Wales and is registered as a charity with Ihe Charity Commission. The company and charity registration numbers, registered office and principal place of business are given on the ¢harity information page and the governing document details are set out in the Irustees. report. 1.1 Accounting conventlon The financial statemenls have been prepared in accordance wilh the charitable company's governing document, the Companiès Act 2006, FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" {"FRS 102.) and the Charities SORP "Accounting and Reporting by Charilies.. Statement of Recommended Practice applicable to charities preparing their accounts in accordan¢e with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102}" (effective 1 January 2019). The charitable company is a Public Benefit Entity as defined by FRS 102. The charitable Company has taken advantage of the provisions in the SORP for charities not lo prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is Ihe functional currency of the charitable company. Mon&lary amounts in these finanrjal statements are rounded lo the nearest £. The financial statemenls have been prepared under Ihe historical cost convention, unless olherwise stated In Ihe relevant accounting policy note(s). The principal accounting policies adopted are sel out below. 1.2 Going Concern Al the time of approving the financial slalemenls, the trustees have a reasonable expectation Ihal the Charitable company has adequate resources lo continue in operational existence for thè foreseeable future. Thus the trustees continue to adopt the golng concern basis of accounting in pieparing the financial statements. 1.3 Charltable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Designated funds include a designated investment fund representing the market value of investments and a designated new property fund representing the value of the charity's principal operating premises, which was funded by the general fund. Freehold depreciation is charged directly to the designated fund and an annual transfer is made beihNeen unrestricted funds and designated funds to account for investment purchases and sales. Restricted fijnds are subject to speafic conditions imposed by donois or through the terms of an appeal, as to how they may be used. The purposes and uses of the restricted funds a set out in the notes to the financial statements. 1.4 Income Income is recognised when the charitable company is legally entitled lo it after any performance conditions have been met, the amounts can be measured reliably, and it is probable thal income will be received. Cash donations are recognised on receipl. Other donations are recognised once the charrtable company has been notified of the donation. unless performance conditions require deferral of the amounl. Income lax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised al the time of the donation. 11
BRAINS MATTER CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting poli¢les (Continued) For legacies, entitlement is taken as the earfiest of the date on which either.. the charitable company is aware that probate has been granted., the eslale has been finalised and notifi¢ation has been made by the executors to the charitable company that a distribution will be made.. or when a distribution is received from the stale. Receipt of a legacy, in whole or part, is only considered probable when the amount can be measured reliably and the charitable company has been nolified of the executors intention to make a distribution. Where legacies have been notified to the charitable company, or the charitable company is aware of Ihe granting of probate and the criteria for income recognition have not been mel, then the legacy is trealed as a conlingenl asset and disclosed if material. Donated assels are recognised on the basis of the value of the gift to the charitable company which is the amount the charitable company would have been willing to pay lo acquire the assel on the open market. Grant or fee in¢ome received in advance of the provision of a specified service is deferred until the crileria for income recognition are met. 1.5 Expendlture Expenditure is recognised once there is a legal or conslructive obligation to IransfeT economic benefit to third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliabty. Expenditure is classified under the following activity headings.. Raising funds comprises the costs of organising fundraising events, investment management fees, salary costs and expenditure on marketing and publicily. Charitable a¢livilies comprises the ¢osts of the day centre and the buddying & drop in centres undertaken lo further the purposes of the charitable company, including their associated support costs. Irrecoverable VAT is charged as a cost against the a¢tivily for which the expenditure was incurred. Support costs are those functions that assist Ihe work of the charity but do not directly undertake charitable activities. Support costs include accountancy fees and govemance costs. The basis on which support costs are allocaled is set out in the charitable activities note in these financial statements. 1.6 Tanglble fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impaimient losses. Individual fixed as5els costing £500 or more are capilalised at cost. Depreciation is Tecognised so as lo write off the cost or valuation of assets less their residual values over their useful lives on Ihe following bases.. Freehold land and buildings Equipment Studio, grounds and gardens 250/r* rbm Freehold land is not depreciated. The gain or loss arising on the disposal of an asset is determined as the difference betsveen the sale proceed5 and the carrying value of the asset, and is recognised in the statement of financial activities. 1.7 Fixed asset InVestnnts Fixed asset investments are initially measured at transaction price excluding transaction ¢osts, and are subsequently measured at market value at each reporting date. Changes in fair value are recognised in nel incomel{expendrture) for Ihe year. Transaction costs are expensed as incurred. 12-
BRAINS MATTER CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies (Continued) 1.8 Impalmient of flxed assets Al each reporting end dale, the chaTltable company reviews the carrying amounts of rts tangible assets lo determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to delermine the extent of the impairment loss (if any). 1.9 Cash and cash equlvalonts Cash and cash equivalents include cash in hand, deposrts held at call with banks, other short-term liquid investments with original maturilies of three months or less, and bank overdrafts. Bank overdrafls are shown within borrowings in current liabilities. 1.10 Flnanclal Instruments The charitable company has elected to apply the provisions of Section 11 '8asic Financial Instruments, and Section 12 '0ther Financial Instruments Issuès, of FRS 102 to all of its financial instrumènts. Financial instruments are recognised in the charitable company's balance sheet when the charitable company be¢omes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial stalemenls, when there is a legally enforceable right lo sel off the recognised amounts and Ihere 1$ an intention to settle on a nel basis or to r8alise the asset and settle the liability simultaneously. Baslc financlal assets Basic financial assets, which include debtors and cash and bank balances, are initially measured al Iransa¢lion price induding transaction costs and are subsequently Carried at amortised cost using the 8ffective interest method unless the arrangement constitutes a financing transaction, where the transaction 15 measured al the present value of the future receipts discounted at a maTkel rale of interest. Financial asset5 dassified as receivable within one year are not amortised. Baslc flnanclal Ilabllltles Basic financial liabilities, including creditors and bank loans aTe initially Tecognised at transaction price unless the arrangement ¢onstilutes a financing transaction. where the debt instrumènt is measured at the present value of the future payments discounted at a market rale of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequentty carried at amortised cosl. using the effective interest rale method. Trade creditors ale obligations lo pay for goods or seNices that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction prio and subsequently measured at amortised cost using the effective interest method. Derecognftlon of financlal Ilabllltles Financial liabilities are derecognised when the charitable company's cOntraUal obligations expire or are discharged or cancelled. 1.11 Employee beneffts The cost of any unused holiday entitlement is recognised in the period in which the employee's servicès arè received. Temiination benefrts are recognised immediately as an expense when the tharitable company is demonstrabty committed to terminate the employmenl of an employee or to provide termination benefits. 1.12 Retirement benefits Paymenls to defined contribution retirement benefrt schemes are charged as an expense as they fall due. 13-
BRAINS MATTER CHARITY NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies {Continuedl 1.13 Leases Rentals payable under operatin9 leases, including any lease incentives received. are charged as an expense on a straight line basis over the term of the relevant lease. Critlcal ac¢ountlng estlmatss and Judgements In the application of the Charitable company's accounting policies, the Iruslees are required to make judgemenls. estimates and assumptions about the carrying amount of assets and liabiltlies that are not readily apparent from other sources. The estimates and assoGialed assumptions are based on historical experience and other factors that a considered to be relevant. Actual results may drfer from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period. or in the period of the revision and future periods where the revision affects both currenl and future periods. Income from donatlons and legacie8 Unrestrlctsd Restricted funds funds 2023 2023 Total Unrestrlcted Restrlcted fund$ funds 2022 2022 Total 2023 2022 Donations and gifts Legacies receivable Government grants 27,588 860 28,448 21.790 20.000 1,320 23,110 20,000 45,000 45,000 72,588 860 73,448 41,790 1,320 43,110 Income from charltablè activllles Unre8tr1ctsd funds 2023 Unrestrlctsd funds 2022 Day servlces Fees and other generated income 54.533 46,968 Wellbelng support Fees and olher generated income 21,329 12,584 ABI Navigator Fees and other generated income 40,000 115,862 59,552 14-
BRAINS MATTER CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Income from other trddlng actlvlties Unrestricted Unrestricted funds funds 2023 2022 Fundraising events Room and car park hire Trading activity income.. other 19,634 5,178 1.723 1,792 1,380 858 Olher trading activities 26,535 4,030 Income from Investments Unrestrlcted Unre8trfcted funds fund8 2023 2022 Bank interest Income from quoted investments 111 22 848 111 870 Ralslng funds Unrestrlcted Unre$trlcted funds funds 2023 2022 Fundraisin Direct costs of fundraising events Publicity and marketing Website maintenance 1,306 474 405 318 318 Fundraising and publicity 1,624 1,197 1.624 1,197 15-
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BRAINS MATTER CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Net movement In funds 2023 2022 The net movement in funds is stated after ¢hargingl(Grediting)'. Depreciation of owned langible fixed assets 13.986 14,442 10 Trustees None of the trustees (or any persons connected with them) received any remuneration or benefits from the charitable company during the year. 11 Employee8 The average monthly number of employees during the year was: 2023 Number 2022 Number Day services Wellbeing support Management, admin and fundraising ABI Navigator funded Total Employment costs 2023 2022 Wages and salaries So¢ial se¢urity costs Other pension costs 156,421 7,379 8,C61 129,665 4.361 6,193 171.862 140,219 Pension costs are allocated betsveen activities and belween restricted and unrestricted funds in proportion lo the related slaff costs incurred. Retirement benefits are accruing under money purchase schemes for six members of slaff12022.- six). The key management personnel of the charity comprise the trustees. business manager and deputy manager. The total employee benefits of the key management personnel were £81,860 {2022'. £67,480). The average monthly head count was eight slaff, comprising Iwo full time and six part time employèes. {2022.- one full time and six part time employees}. The number of full lime equivalenl employees was as above. There were no employees whose annual remuneration was more than £60.000. 17-
BRAINS MATTER CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 12 Gains and losses on Investments Unrestricted Unrestricted funds funds 2023 2022 Gainsl(losses) arising on.. Revaluation of investments (3,5471 13 Taxatlon The ¢harilable company is exempt from corporalion tax on its charrtable activities. 14 Tanglble fixod assets Fmhold land and bulldlng• EquSpm•nt Total Cost Al 1 January 2023 768,813 37,291 806,104 Al 31 December 2023 768,813 37,291 806,104 Depreclatlon and Impalmient Al 1 January 2023 Depreciation charged in the year 257,716 13,571 35,621 415 293,337 13,986 At 31 December 2023 271.287 36.036 307,323 Carrying amount At 31 December 2023 497,526 1,255 498,781 At 31 December 2022 511,097 1.670 512,767 The Trustee's have estimated the original cost of the freehold land in 2008 as £42.000 which represented 100/0 of the purchase price. 18-
BRAINS MATTER CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 15 Flxed asset Investments Cash in portfolio Cost or valuatlon Al 1 January 2023 Tiansfers <9) Al 31 December 2023 Carylng amount At 31 December 2023 At 31 December 2022 16 Debtors 2023 2022 Amounts falling due wlthln one year: Trade debtors Other debtors Prepayments and accrued income 17.573 45 1.481 4,280 45 1.347 19.079 5.672 17 Loans and overdraft8 2023 2022 Bank loans 105.000 Payable within one year Payable after one year 15.224 89,776 During the year an UnsecUd loan of £105,000 was reIVed from CAF Bank. This is repayable over five years, at an interest rate of 6.50•A per annum. 19-
BRAINS MATTER CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 18 Creditors: amounts falling due within one year 2023 2022 Notes Bank loans Other taxation and social security Trade creditors Other creditors Accruals and deferred income 17 15.224 3,088 772 1,851 3.600 2,296 847 1,489 3,270 24,535 7,902 Other creditors include pension contributions of £1,851 {2022.' £1,489). 19 Credilor3: amounts falllng due after morè than one year 2023 2022 Notes Bank loans 17 89,776 20 Retlrement beneflt schemes Defined contributlon schemes Pension costs are allocated betsveen a¢livities and bètsveen restncted and unreslricled funds in proportion to the related staff ¢osls incurred. Retiremenl benefits are accruing under money purchase schemes for six members of staff. (2022.. six). -20-
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BRAINS MATTER CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 23 Analysls of net assets between funds Unrestricted funds 2023 Restrlcted funds 2023 Total 2023 At 31 December 2023: Tangible assets Current assetsl(liabililies) Long term liabilities 234.359 110,761 {89,776) 264,422 5,070 498.781 115,831 (89,776) 255,344 269.492 524,836 Unrestrlctsd funds 2022 Restrl¢tgd funds 2022 Total 2022 At 31 December 2022: Tangible assets Investments Current assetsl{liabililies) 241,101 271,666 512,767 32,848 5.285 38,133 273,958 276,951 550,909 24 Operatin9 lease commitments Lessee At the reporting end date the charitable company had outstanding commitments for future minimum lease payments under non-cancellable operatin9 leases, which fall due as follows.. 2023 2022 VKfjlhin one year Between h¥0 and five years 4,281 4,281 4,281 4,281 25 Events after the reportlng date The claim that was made against Headway West Kent in 2021, relating to a hisloric incident in 2017, has finally been settled. with costs agreed. There are no financial implications on Brains Matter Charity. 26 Related party transaclion$ There were no disclosable related paty transactions during the year (2022 - none). -23-