Registered number: 03374820 Charity number: 1064309 MID AND NORTH ESSEX MIND {A Company Limited by Guarantee) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
MID AND NORTH ESSEX MIND IA Company Litnited by Guarantee) CONTENTS Page Reference anLI Admiriislialive Delails of Ihe Chaf ilal)le Company, its Trustees and Advisers Trustees. Report Indepeiidenl Auditois, RcpoTt on Ihe F inancial Stalenients Slalement ol Fiiiancial Activities lincorpoi aling income and expenditiire accounll Balancè Sheel 10- 13 15 Slalemenl of Cash Flows 16 Notes lo Ilie F inancial Sialeinenls 17- 37
MID AND NORTH ESSEX MIND {A Company Limited by Guarantee> REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2Q24 Trustees l Beaumont. Chair P Cheng, Vice Chair P Pushman. Treasurer M Edwards S Barlow (Resigned 20 September 2023) L Brewster D Wordsworth (Resigned 10 May 20231 J Hopkins lappoinled 10 May 2023) M Harrison {appoinled 22 May 20241 Company reglstered number 03374820 Charity registered number 1064309 Registered off The Conslanline Centre 272a Mersea Road Colchester Essex C02 8QZ Chief executive officer Ginny Idehen Independent auditors Sumer Auditco Limited Slalulory Auditor 820 The Crescent Colchester Business Park Colchesler Essex C04 9YQ Bankers Barclays Bank plc 9 High Street Colchesler Essex C01 1DA Solicitors Fisher Jones Greenwood Newcomen Way Colchesler Business Park Colchesler Essex C04 9YA Page 1
MID AND NORTH ESSEX MIND IA Company Limited by Guarantee} TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Iruslees present their report and the audited financial slalements for the year ended 31 March 2024. OBJECTIVES AND ACTIVITIES a. Purpose Our purpose is lo support and ernpower people experiencing an emotional or mental health condition by building on their personal hopes and aspirations. We offer hope and support for good mental health so that no-one feels alone and, logelher with our communities, we want everyone lo understand how lo lake care of their mental health and gel the support they need. We listen lo our communities and offer compassionate and inclusive mental health services, resources and practical support lo promote wellbeing for everyone. The Iruslees review the mission, values and activities of the charity each year having regard lo the guidonce issued by the Charily Commission on pub5ic benefit. This report reflects on what the charity has achieved over the reporting period. b. Achievements and performance The charity provides a wide range of support lo the people of Mid and North East Essex. We work in partnership with other local Minds. NHS and local health services, as w811 as key community organisalions and service providers, lo reduce health inequalities. We work with our communilies so everyone can understand how to take care of their mental health and gel the support they need. We work to develop and embed inclusive, accessible projects and support services that meet local needs We listen, support and advise. pushing for a better deal for everyone experiencing a mental health issue. We strive lo support people of all ages. from young people in schools to older people struggling in isolation. We provide counselling and outreach services for people wilh mild to moderate menta5 health issues such as anxiety, stress and depression. as well as those in crisis, who have experienced trauma and who may be living with a long-term mental health condition. Our work this year was informed and influenced by our previous business 51ralegy and by new members of the leadership team that commenced during the course of the year. We recruited a new CEO, Head of Services and Head of Finance in the course of the year and as a result the board has worked closely with the new leadership team, our colleagues and our lived experience panel (Voices for Brighter Futures) to creale a new strategy for 2024- 2027 to ensure we improve what we are offering to our communities. Page 2
MID AND NORTH ESSEX MIND IA Company Limited by Guaranteel TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 OBJECTIVES AND ACTIVITIES {continued) Our activities During 202312024 more than 7000 people were referred or self-referred lo our charity accessing the following services.. Crisis Café provided a safe, welcoming space in North East Essex where people experiencing emotional distress or mental health crisis can receive support outside of normal working hours, seven days a week for 1151 individuals. Counselling, one to one talking therapy counsellors provided 2873 sessions for adults and children either face to face, by telephone or on-line. Futures in Mind. a collaboration beeen Mid and North East Essex Mind, Phoenix Futures and Mind in West Essex. The service was for people across Essex suffering with mental health or substance misuse issu8s and we received 275 referrals. Funding ceased for this seNice on 31 March 2024. MHST Imental Health Schools Team) provided 974 sessions across North East Essex. to support Children, young people, parents and staff across prirnary, secondary and further education setlin9s until 31 December 2023, when the service moved lo another provider. Mid Essex Sanctuary provides a safe, supportive space where people experiencing emotional distress or mental health crisis can receive support outside of normal working hours 365 days a year. This service supported 2162 people in 2023124. Personality Disorder Support for 96 people living with a personality disorder in Mid Essex. Self Harm Management Toolkit provides guidance and support for individuals working with school-age children and young people under 18 in educational sellings. STaRS (Support Time and Recovery Servlcel provided support to 1095 adults living with a mild lo moderate mental health problem needing information, advice and practical support to gel help from other local services and organisalions. Mental Health, Suicide Awareness and Mental Health Toolkit training our training courses are delivered face lo face and on-line lor individuals, groups and employers to help people lo understand what to do to lake care of themselves and those around them. We delivered Suicide Awareness training to 160 people and Mental Health Awareness and Mental Health Toolkit training lo over 200 people Youlhful Wellbeing working in partnership with other local Minds, this service offered support lo 39 young adults aged 18-25 who were experiencing mental health problems. AccTediled Organisation Mid and North East Essex are fully accredited.. BACP {British Association for Counselling and Psychotherapy) Mindful Employer Cyber Security Essentials Data Security and Protection Toolkit INHSI ISO 9001.2015 Mind Quality Mark Page 3
MID AND NORTH ESSEX MIND IA Company Limited by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 OBJECTIVES AND ACTIVITIES {continued Mid and North East Essex Mind is one of more than one hundred local Minds accredited by Mind, a nalional charity committed lo campaigning for promoting better mental health of people in England and Wale5. ACHIEVEMENTS AND PERFORMANCE Financial review 202312024 was 8 challenging year for the charity. Following the resignation of the CEO, a new senior leadership team was appointed. Two contracts for services ended and staff moved across to the new providers under TUPE regulations. Income fell for the Ihird year in succession. The charity invested its reserves in term notice accounts lo lake advantage of the higher interest rates on offer while increasing expenditure lo deliver new services lo our beneficiaries in mid and north east Essex. Overall the charity achieved a small surplus of £35,667 12023.. £99,932). Our nel assels increased slightly lo £3,033,556 {2023.' £2,997,889) of which property accounted for £641,772 {2023, £649,722) b. Sources of funding In 202312024 our rnaior Source ol funding was contract income from the NHS which accounted for 90,/0 of lotal income. Significant sourced of other income came from donalions14U/ol and bank interesl14'/ol. Our three-year slralegy aims to diversily our income strea ms by investing in our external training offer and our fundraising team lo explore opportunilies for granl-funding, support from corporate partners and community giving Mid and North East Essex Mind are registered with the Fundraising Regulator. c. Inveslment policy As charity Iruslees we have overall responsibility for the investment of the Charity's reserves in order to secure the best financial return within an acceptable level of risk. The trustees have therefore agreed an investment policy whereby funds are held in interest bearing cash accounts. Funds equivalent lo six months, expenditure musl be accessible within three months and a further six monlhs expenditure must be accessible within six months. Excess funds not required in the short-term may be invested for up to a maximum of 24 months. All investments are held in accounts wilh inslilulions covered by the Financial Services Compensation Scheme and investments are limited to £85,000 with any one inslilulion or group unless an inslilulion has a higher credit rating. Page 4
MID AND NORTH ESSEX MIND (A Company Limited by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 d. Reserve5 The charity needs financial resources lo achieve our chartiable objectives and lo deliver our strategy. During Ihe year the trustees undertook a feview of the level of reserves required in order to.. protect against the risk of an unforeseen emergency or other unexpected need for funds, such as an unexpected large bill or finding 'seed-fLJnding' for an ur9enl project,. cover unforeseen day-lo-day operational costs, e.g. employing temporary staff to cover a long-term sick absence. provide a source of income in the case of funding not being renewed or being lower than anticipated invest in new servicès and opportunities lo meet local need., deliver planned commitments that cannot be met by future income alone, such as plans for a major asset purchase or for a significant project that requires the charity lo provide 'matched funding,; meet short-term deficits in cash flow where money may need lo be spent before a funding grant is received,, and enable the charity to wind down and cease trading in an orderly manneT should we lose contracts and have insuffi¢ienl income to continue as a going concern. The ¢harily will maintain unreslricled reserves equal lo meet Ihese demands and this will be re-calculated annually {Conlingency Fund). Separate provision is made for any property or equipment leases. The charity will hold further unreslricled reserves to maintain and replace property and fixed assels as they wear out (Building Maintenance and Renewals). We have exciting plans for the future lo grow and develop as a Charity The Iruslpes have earmarked funds lo enable this lo happèn over the next three y?.ars as we deliver the charity s strategic plan. Over this three year period our reserves will reduce and return lo the level we need to ensure the ongoing financial stability of the charity. Principal risks and uncertainties The trustees maintain a risk register, which is regularly reviewed by the Risk and Quality Sub Committee of the Board of Trustees lo ensure that the charity understands and manages potential risks and complies with regulalory and stalulory requirements. The charity has in place a risk framework lo miligale significant risks through measures which include.. robust system of internal control suite of policies and procedures, supplernented by staff training external review (ISO 9001 , Mind Quality Mark and Mindful Employer) comprehensive insurance package. The three principal risks facing the charity are loss of income due to the financial pressures on our funders and donors in Ihis period of economic certainty, loss or unaulhorised access lo personal data by third parties and continuity of staffing to ensure we are can continue to deliver consistent high-quality services. Page 5
MID AND NORTH ESSEX MIND (A Company Limited by Guarantee) TRUSTEES. REPORT (CONTINUED} FOR THE YEAR ENDED 31 MARCH 2024 f. Going concern The Iruslees have considered the financial position of the charity, its investment portfolio, ils reserves, as well as its cash flow and liquid resources and we believe the charily is able lo manage ils business risks successfully. There are no material uncertainties that may cast doubt on the charity's ability lo continue as a going concern. The trustees have a reasonable expectation that the charity has adequate resources to conlinue lo operate for the foreseeable future. Therefore, we continue lo adopt the going concern basis of accounting in preparing the annual financial slalemenls. g. Plans for the future We have identified that lo move forward and grow as a charity we need to develop in four areas lo transform our organisation and work towards our organisalional vision for the future. Impact on beneficiaries We should know what impact we are having on our beneficiaries and communities. We need lo listen lo our communities, our colleagues, and our lived experience panel lo understand what and how we should be Providing education and support to improve mental heallh. We need lo use the information that we gather lo ensure that we are a posilive enabler for demonstrable improvement in mental health for our beneficiaries. Growin9 our people We want to move towards a culture of support, innovation and excellence and involve our colleagues, volunteers, and Voices for Bri9hler Futures members in this change. We want lo make sure that as we transform our teams are exploring new ways of supporting our communities, slaying resilient and are high performing. Sustainable finance We need lo ensure Ihal as we change, develop. add new services, and make decisions about currenl services, we are moving towards a greater diversification in our income 185Q/o commissioned services) and that we become operationally break even during the period of this strategy with sensible and planned spending of our reserves. Building our Eco System We want to be an integral part of the Mental Health eco-syslem in Mid and North East Essex. We want lo be enablers, partners. and collaboralors lo improve the wider system in our area. We want lo ensure that gaps are plugged, and that the environment is conducive for innovative partnership working for the benefit ol our communities. STRUCTURE, GOVERNANCE AND MANAGEMENT Constitution Mid and North East Essex Mind is a charitable company limited by guarantee, incorporated on 16 May 1997 and registered as a charity on 10 September 1997. The company was established under a memorandum of association which established the objec15 and powers of the charitable company and is governed under its articles of association. Page 6
MID AND NORTH ESSEX MIND (A Company Limited by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT (continued) b. Appointment of trustees All trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 12 to the accounts. Trustees are recruited through a rigorous process of advertisement, shortlisling and interview. All Iruslee appointments are ratified by the full board. New Iruslees have a period of induction and allend a number of board meetings as an observer before being elected to the board. Governance The charity's Board of Trustees meets four limes a year, with additional meetings as required. The board is responsible for strategic direction, for ensuring proper governance of the charity's activilies and risk management. A paid CEO is appoinled by the trustees to manage the day-to-day operations of the charity in line with a formal Scheme of Delegation. d. Remuneration The CEO'S remuneration is set by the Board of Trustees. All roles al the charity are consistently evalLtal8d and remuneration is determined through comparison against similar roles in the sector and local area. This ensures that all staff. including the senior leadership team, are paid al the appropriate level for their role. Related parties and relationships with other organisations Partnership working is an essential elemenl of all the work that Mid and North East Essex Mind provides across the locality. 11 not only allows for a better way of éelivering, but also provides the user with an improved experience. 11 is essential lo know and understand whom we are working with when considering any form of partnership, After identifying a potential partner lo work with on the delivery of a project or service, due diligence is carried out to ensure that both parties are a good match and share the same overall vision and values. Page 7
MID AND NORTH ESSEX MIND IA Company Limited by Guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT (conlinuedl f. Equality, diversity and inclusion (EDII Mid and North Easl Essex Mind is committed lo providing high quality mental health care within a safe environment by appToprialely qualified and compelenl staff, We aim lo ensure that all slafl acl in a fail and consi51enl manner. All employees are encouraged to develop their skills and fulfil their potential to lake advantage of training, development and progression opportunities in Mid and North East Essex Mind. Selection for employment, promotion and training is based on apiilude and ability. Mid and Norlh East Essex Miné is commilled to Irealing all its employees and job applicants equally and to recruit the be51 person for each vacancy. No employee or potential ernployee shall r&ceive less favourable Irealmenl or consideration during recruilmenl and selection on the ground of race, colour. religion or belief, nalionalily, ethnic origin, sexual orientation, gender, age, disability, marital slalus or part-lime slalus or will be disadvantaged by any conditions of employment that cannot be justified as necessary on operational grounds. We are currently establishing an EDI Steering Group lo look al the impacl on our learn and service delivery g. Sustainability The charily is committed lo supporting the environment and minimising the impact we have on our surroundings and local communilies. We are on a journey of continuous improvement and acknowledge Ihal more can be done lo further reduce the impact that we have on the environment. STATEMENT OF TRUSTEES, RESPONSIBILITIES The Trustees {who are also the directors of the Charilable Company for the purposes of company lawl are responsible for preparing the Trustees, Report and the financial slalemenls in accordance with app11cable law and United Kingdom Accounting Standards Iuniled Kingdom Generally Accepled Accounting Practice) Company law requires the Truslees to prepare financial slalemenls for each financial year. Under company law, the Trustees musl not approve the financial slalemenls unles5 they are satisfied Ihal they give a true and fair view of the stale of affairs of the Charitable Company and of its incoming resources and application of resources, including its in¢ome and expenditure. for that period. In preparing these financial statements, the Trustees are required lo.. select suitable accounting policies and then apply them consislently., observe the methods and principles of the Charities SORP IFRS 102)., make judgements and accounting estimates that are reasonable and prudent., stale whether applicable UK Accounting Standards (FRS 1021 have been followed, subject lo any material departures disclosed and explained in the financial statements: prepare the financial slalements on the going concern basis unless il is inappropriate lo presume that the Charitable Company will continue busines5. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charitable Company's transactions and disclose with reasonable accuracy al any lime the financial position of Ihe Charitable Company and enable them lo ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charitable Company and hence for laking reasonable steps for the prevention and detection of fraud and other irregularities. Page 8
MID AND NORTH ESSEX MIND {A Company Limited by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Disclosure of information to auditors Each of the persons who are Trust8es al the time when this Trustees, Report is approved has confirmed Ihal. so far as that Trustee is aware, there is no relevant audit information of which th8 charily's auditors are unaware, and that Trustee has taken all the steps that ought lo have been taken as a Trustee in order lo be aware of any relevant audit information and to establish that the ¢harily's auditors are aware of that information. Auditors The auditors, Sumer Auditco Limited, have indicated their willingness lo continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees. Small Companies note In preparing this report, the Trustees have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006. Approved 1010912024 by order the members of the board and signed on Iheir behalf by.. Trustees on P Pushman (Trustee) Page 9
MID AND NORTH ESSEX MIND (A Company Limited by Guarantee} INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF MID AND NORTH ESSEX MIND Opinion We have audited Ihe financia1 slalemenls of Mid and North Essex Mind Ilhe 'charilable company'l for the year ended 31 March 2024 which comprise the Slalement of Financial Aclivilies, the Balance Sheet, the Stalemenl of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic 01 Ireland, (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial slatemenls.. give a true and fair view of the slate ol the charitable companls affairs as a131 March 2024 and of its incoming resources and application of resources. in¢luding its income and expenditure for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice.. and have been prepared in accordance with the requirements of the Companies Act 2QQ6. Basls for opinion We conducted our audit in accordance with International Slandaids on Auditing {UKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditors. responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant lo our audit of the financial slalemenls in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis lor our opinion. Concluslons relating to going concern In auditing Ihe financial slalemenls, we have concluded that the Trusteès, use of the going concern basis of ac¢ounling in the preparation of the financial statements Is appropriate. Based on the work we have performed. we have nol identified any malÈrial uncertainties relating lo events or conditions that, individua15y or collectively, may cast significant doubl on the charitable company's ability to continue as a going concern for a period of al least e1ve months from when the financial slalemenls are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect lo going concern are described in the relevant seclions of this report. Page 10
MID AND NORTH ESSEX MIND {A Company Limited by Guarantee) INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF MID AND NORTH ESSEX MIND (CONTINUED) Other information The other information comprises the information included in the Annual Report other than the financial slalemenls and our Auditors, Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial slalemenls does not cover the other information and, except to the exlenl otherwise explicitly slated in our report, we do not express any form of assurance conclusion Ihereon. Qur respor)sibilily is lo read the other information and, In doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or othetwise appear5 to be materially misstated. If we identify SLtch material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise lo a material misslalement the financial statements themselves. If. based on the work we havo performed, we conclude that there is a material misstatement of this other information, we are required to report Ihal fact We have nothing to report in this regard. Oplnlon on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the Tiustees, Report for the financial year for which the financial statements are prepared is consistent with the financial slatemenls. the Trustees, Report has been prepared in accordance with applicable legal requirements. Matters on which we are requlred to report by exception In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misslalements in the Trustees, Report. We have nothing lo report in respect of the following matters in relalion lo which Companies Act 2006 reouires us to report lo you if, in our opinion.. adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us.. or the financial slalemenls are not in agreement with the accounting records and returns., or certain disclosures of Trustees, remuneration specified by law are not made", or we have not received all the information an(J explanations we require for our audit., or the Trustees were not enlilled lo prepare the financial statements in accordance with the small companies regime and lake advantage of the small companies, exemptions in preparing the Trustees, Report and from the requiremerit to prepare a Slrategic Report. Page11
MID AND NORTH ESSEX MIND IA Company Limited by Guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF MID AND NORTH ESSEX MIND ICONTINUEDI Responsibilities of trustèes As explained more fully in the Trustees, Responsibilities Slalemenl, the Trustees (who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial slalemenls and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine Is necessary lo enable the preparation of financial slalemenls Ihal are free from material misstalemenl, whether due lo fraud or error. In preparing the financial slatemenls, the Trustees are responsible for assessing the charitable company's abilily lo continue as a going concern, disclosing, as applicable, matters related lo going concern and using the going concern basis of accounling unless the Trustees either intend lo liquidate the charitable company or lo cease operations, or have no realistic alternative but lo do so. Audltors. responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial slalemenls as a whole are free from material misstalemenl, whether due lo fraud or error, and lo issue an Auditors, Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS {UK} will always delect a material misslalement when il exists Miss121emÈnls can arise from fraud or error and are considered malerial if, individually or in the aggregate, they could reasonably be expected lo innuence the economic decisions of useTS taken on the basis of these financial stalemenls. Irregularities, in¢luding fraud. are instances of non.compliance with law5 and regulations. We design procedures in line with our responsibilities. outlined above, to delecl material misstatements in respect of irregularities, including fraud. The exlenl lo which our procedures are capable of detecting irregularities, including fraud is detailed below.. We identified areas of laws and regulations thal could reasonably be expected lo have a material effect on the financial slalemenls from OLJr general commercial and sector experience, through discussion with the Trustees las required by auditing slandardsl, inspection of the Charitable Company's regulatory and legal correspondence and discussed with Ihe TrLJSlees the policies and procedures regarding compliance with laws and regulations. We communicated identified laws and regulations throughout our team and remained alert lo any indications of non-compliance Ihroughoul the audit. The potential effect of these laws and regulations on the financial statements varies considerably. Firstly, the Charitable Company is subject to laws and regulations that directly affect the financial statements including financial reporting Ipgislalion, dislribLJtable profits legislation and taxation legislation and we assessed the exlenl of compliance with these laws and regulations as part of our procedures on the related financial stalemenl items. Secondly, the Charitable Company is subject lo many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial slalements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely lo have such an effect.. health and safety, safeguarding, employment law, Mind Quality Mark. ISO 9001'.2015, BACP, The Equality Act 2010 and GDPR. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations lo enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any. Page 12
MID AND NORTH ESSEX MIND IA Company Limited by Guarantee> INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF MID AND NORTH ESSEX MIND {CONTINUEDI Audit procedures undertaken in response to the potential risks r&laling to irregularities (which include fraud and non-compliance with laws and regulalionsl comprised of.. enquiries of management and those charged with governance as lo whether the Charitable Company complies with such regulations., enquiries of management and Ihose charged with governance concerning any actual or potential litigation or claims, inspection of relevant legal documentation, review of board minutes, lesling the appropriateness of journal entries and the performance of analytical review to identify any unexpected movements in account balances which may be indicative of fraud. There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the evenls and transactions reflected in the financial slalemenls, the less likely we would become aware of it. I rregularilies that resLJIt from fraud might be inherently more difficull lo delecl Ihan irregularities that result from error. As explained above, there is an unavoidable risk that material misstalemenls may not be detected, even though the audil has been planned and performed in accordance with ISAS {UK). A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website al.. www.frc.or .uklaudilorsres onsibilities. This description lorms part of our Auditors, Reporl. Use of our report This report is made solely lo the charilable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate to the charitable company's members those mallers we are required lo slate lo them in an Auditors, Report and for no other purpose. To the fullesl exlenl permilled by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed. Timothy O'connor (Senior Statutory Auditor) for and on bp.half of Sumer Auditco Limited Slatulory Auditor 820 The Crescent Colchester Business Park Colchester Essex C04 9YQ Dale.. Page13
MID AND NORTH ESSEX MIND IA Company Limlted by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT} FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and legacies Charitable activities 113,195 2,438.891 114,414 22,247 15.990 44.940 129,185 2,483,831 114,414 22,247 169,566 2,581,233 8.508 Investments Other trading activities Total Income 2,688,747 60,930 2,749,677 2,759,307 Expenditure on.. Raising funds Charitable activities 16,764 2,659,203 16,764 2,697,246 38,043 2.659,375 Total expendlture 2.675,967 38,043 2.714,010 2,659,375 Net Income 12,780 41,590 22,887 141,5901 35,667 99.932 Transfers between funds 20 Net movement in funds 54,370 118,7031 35,667 99,932 Reconciliation of funds: Total funds brought forward Nel movement in funds 2,755,054 54.370 242,835 (18,703} 2,997,889 35,667 2,897,957 99,932 Total funds carried forward 2,809,424 224,132 3,033,556 2.997,889 The Statement of Financial Aclivilies includes all gains and losses recognised in the year. The notes on pages 17 to 37 form part of these financial statements. Page 14
MID AND NORTH ESSEX MIND IA Company Limited by Guarantee) REGISTERED NUMBER: 03374820 BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Note Fixed assets Tangible assets 15 646,324 665,366 646,324 665,366 Currenl assets Debtors Short term deposits Cash at bank and in hand 159,948 2,152,604 243,369 113,672 1,251,336 1,496.442 2,555,921 2,861,450 Creditors.. amounts falling dLte within one year 17 {167,771) (519,040) Net current assets 2,388,150 2,342,410 Total assets less current liabilities 3,034,474 3,007,776 Creditors amounts falling due af18r more than one year Defined benefit pension scheme liability 18 {7,9221 {1,9651 26 1918) Total net assets 3,033,556 2,997,889 Charity funds Restricted funds Unrestricted funds 20 224,132 2,809,424 242,835 2,755,054 20 Total funds 3,033,556 2,997,889 The financial statements were approved and aulhorised for issue by the Trustees and signed on their behalf by.. on 1010912024 P Pushman {TrLfStee} The notes on pages 17 to 37 form part of these financial statements. Page 15
MID AND NORTH ESSEX MIND (A Company Limiled by Guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Cash flows from operating activities Net cash (used in)Igeneraled from operaling activities (see note 23) {425,6181 426,907 Cash flows from investing activities Purchase of tangible fixed assets Short term deposits Interest received Interest paid (3,6321 {901,2681 114,414 (6,4761 (2,6681 (703,0731 8,508 {3,052) Net cash used in investing activities 1796,9621 {700,285) Cash flows from f inancing actlvltSÈs Loan repayments (30,4931 128,7701 Net cash used in finan¢ing actlvities (30,4931 128,770} Change in cash and cash equivalents in the year Cash and cash equivalents al the beginning of the year 11,253,073) 1,496,442 {302,148) 1,798,590 Cash and cash equivalents at the end of the year 243,369 1,496,442 The notes on pages 17 10 37 form part of these financial slatemenls Page 16
MID AND NORTH ESSEX MIND {A Company Limited by Guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 General information Mid and North Essex Mind is a charitable company limited by guarantee, incorporaled in England and Wales, registered company number 03374820 and registered Charity number 1064309. The address of the registered office is The Constantine Cenlre, 272a Mersea Road, Colchesler, Essex, C02 8QZ. Accounting pollcles 2.1 Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP (FRS 1021 Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) {effective 1 January 2019}, the Financial Reporting Standard applicable in the UK and Republic of I reland (FRS 1021 and the Companies Act 2006. Mid and North Essex Mind meets the definition of a publi¢ benefit enlily under FRS 102. Assets and liabilities are initially recognised al historical cost or transaction value unless otherwise slated in the relevant accounting policy. 2.2 Going concern After reviewing the charitable company's forecasts and projections, 109elher with all known factors, the Trustees have a reasonable expectation that it has adequate resources lo continue in operational exislence for the foreseeable future The entity therefore continues lo adopt the going concern basis in preparing its financial slalements. 2.3 Income All income is recognised once the Charitable Company has enlitlemenl lo the income, il is probable that the income will be received and the amount of income receivable can be measured reliably, Grants are included in Ihe Slalemenl of Financial Activities on a receivable basis. The balance of income received for specific purpose5 bul not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of enlitlem8nl of receipt, ils recognition is deferred and included in creditors as deferred income. Where enlillemenl occurs before income is received, the income is accrued. Income is deferred only when the charitable company has to fulfil conditions before becoming entitled lo it or where the dorior has specified that the income is lo be expended in a fulure period. Other income is recognised in the period in which it is receivable. Page 17
MID AND NORTH ESSEX MIND {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (continued) 2.4 Expendilure Expenditure is recognised once there is a legal or constructive obligation lo Iransler economic benefit lo a third party, il is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measLJred reliably Expenditure is classified by activity The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each aclivily. Direct costs allributable lo a single activity are allocaled directly lo that aclivily. Shared costs which contribute lo more than one activity and support costs which are not allribulable lo a single activity are apportioned between those activities on a basis consistent with the use of resources. Centra1 staff costs are allocated on the basis of lime spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on raising funds includes all expenditure incurred by the Charitable Company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non- charitable Irading. Expenditure on charitable aclivilies is incurred on directly undertaking the activities which further the Charitable Company's objectives, as well as any associated support Cosls. All expenditure 15 inclusive of irrecoverable VAT. 2.5 Interest receivable Interest on funds held on deposit is included when receivable and the amount Gan be measured reliably by the Charitable Company.. this is normally upon notification of the inleresl paid or payable by the institution with whom the funds are deposited. 2.6 Operating leases Rentals paid under operating leases are charged lo the Slalement of Financial Activities on a slraighl-line basis over the lease term. 2.7 Pensions The Charitable Company opèral&s a defined contribution pension scheme and the pension charge represenls the amounts payable by the Charitable Company lo the fund in respect of the year. The Charitable Company opèrates a defined benefits pension scheme and the pension charge is based on a full actuarial valuation dated 2 December 2018. 2,8 Taxation The Charilable Company is considered lo pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation lax purposes. Accordingly, the Charitable Company is potentially exempl from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to Ihe extent that such income or gains are applied exclusively to charitable purposes. Paqe18
MID AND NORTH ESSEX MIND IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies {contlnued) 2.9 Tangible fixed assets and depreciation Tangible fixed assets are initially recognised al cost. After recognition, under the cost model, tangible fixed assets are measured at cost less acctjmulaled depreciation and any acGumulaled impairment losses. All costs incurred to bring a tangible fixed asset into ils intended working condition should be included in the measurement of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the slraighl-line method, Depreciation is provided on the following basis.. Freehold property Equipment 2010 Straight lin8 330/0 Straight line 2.10 Debtors Trade and other debtors are recognised al the settlement amount after any trade discount offered. Prepayments are valued al the amount prepaid net of any trade discounts due. 2.11 Cash at bank and in hand Cash al bank and in hand includes cash and shorl-lerrn highly liquid investments wilh a short malurily of three months or less from the dale ol acquisition or opening of the deposit or similar account. 2.12 Liabilities Liabilities and provisions are recognised when there is an obligation al Ihe Balance Sheet dale as a result ol a past event, il is probable that a transfer of economic benefil will be required in selllemenl, and Ihe amount of the selllemenl can be estimated reliably. Liabilities are recogni5ed al the amount that the Charitable Company anlicipales it will pay lo sellle the debt or the amount il has received as advanced payments for the goods or services il musl provide. Provisions are measured al the best estimate of the amounts required to settle the obligation. Where the effect of Ihe time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rale that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance Gosl. 2.13 Financial instruments The Charitable Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at Iransaclion value and subsequently measured al their settlement value with the exception of bank loans which are subsequently measured al amortised cost using the effective interest method. Page 19
MID AND NORTH ESSEX MIND (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (continued) 2.14 Fund accounting Unrestricted funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charitable Company and which have not been designated for other purposes Designated funds comprise unreslricled funds that have been sel aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes lo the financial slatemenls. Restricted funds are funds which are lo be used in accordance with specific rèstrictions imposed by donors or which have been raised by the Charitable Company lor particular purposes. The costs of raisin9 and administering such funds are charged against the specific fund. The aim and use of each reslricled fund is set out in the notes lo the financial statements. Investmenl income, gains and losses are allocated lo the appropriate fund. Critical accounting estimates and areas of judgement Eslimales and jLtdgements are continually evaluatèd and are based on historical experience and other factors. including expectations of future events Ihal are believed lo be reasonable under the circumstances. Critical accounting estimates and assumptions. The more significant judgernenls and estimates involved in the prepaTation of the financial statements include assessing the depreciation rates applicable lo tangible fixed assets and the way in which certain costs should be apportioned. Further details iegarding Ihese points aTe included wilhin Ihe accounting policies. Page 20
MID AND NORTH ESSEX MIND (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Income from donations and legacies Unrestricted Restricted funds funds 2024 2024 Total funds 2024 Donations 110.195 3,000 6,000 9,990 116,195 12,990 Grants 113,195 15,990 129,185 Unrestricted funds 2023 Reslricled funds 2023 Total funds 2023 Donations Grants 155,054 8,513 5,999 161,053 8,513 163,567 5,999 169,566 Income from charitable a¢tivities Unrestricted Restricted funds funds 2024 2024 Total funds 2024 Counselling STaRs (Support Time and Recovery Service) Futures in Mind Crisis Cafe's Self Harm Toolkit MHST (Mental Health Schools Team) Mid Essex Sanctuary CYP Pathway Link Worker Employment Advisors Other charitable activities 296,919 361,404 127,833 379,368 296,919 361,404 127,833 379,368 44,940 836,436 337,914 42.613 27.527 28.877 44,940 836,436 337.914 42,613 27,527 28,877 2,438,891 44.940 2,483,831 Page 21
MID AND NORTH ESSEX MIND IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Income from charitable activities (continued) Unrestrcted funds 2023 Reslricled funds 2023 Total funds 2023 Counselling STaRs (Support Time and Recovery Service) Futures in Mind Crisis Cafe's 230,879 555,961 103,439 379.526 230,879 555,961 103,439 379,526 44,962 932,859 293,753 39,854 Self Harm Toolkit MHST {Mental Health Schools Team) Mid Essex Sanctuary Other charitable activities 44,962 932.859 293,753 39,854 2,536.271 44.962 2,581,233 Income from charitable activities is derived from the provision of services by the charity. The nature of these services is as described in the Trustees, Report. Investment income Unrestricted funds 2024 Total funds 2024 Bank interest receivable 114,414 114,414 Unrestricted funds 2023 Total funds 2023 Bank interest receivable 8,508 8,508 Page 22
MID AND NORTH ESSEX MIND {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Other incoming resources Unrestrtcted funds 2024 Total funds 2024 Total funds 2023 Events and Sponsorship 22,247 22.247 Raising funds 2024 2023 Event costs 16,764 16,764 Charitable activities costs Support costs Total 2024 Direct costs 2024 2024 Staff costs Prernises (including deprecialionl General office Finance costs Auditor's remuneralion (Governance costs) Accountancy fees {Governance costs} Other costs 1,655,133 67,393 30,422 298 473,751 29,548 42,894 6,167 12,000 11,790 206,380 2,128,884 96,941 73,316 6,465 12,000 11,790 367.850 161,470 1,914,716 782,530 2,697,246 Page 23
MID AND NORTH ESSEX MIND IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Support costs Irestatedl Total 2023 Direct costs 2023 2023 Staff costs Prernises (including depreciation) General office Finance costs Auditor's remuneration (Governance costs) Accountancy fees (Governance costs) Other costs 1,746,090 93,799 8,741 327,603 37,458 33,904 3,052 22,288 11,640 148,030 2,073.693 131.257 42,645 3,052 22,288 11,640 374,800 226,770 2,075,400 583,975 2,659,375 10. Net sncomellexpenditurel 2024 2023 Depreciation Auditors remuneration Operating lease expenditure 22,674 12,000 2,572 31,408 22,288 31,790 Auditors. remuneration 2024 2023 Fees payable lo the Charitable Company's auditor for the audit of the Charitable Companvs annual accounts 12,000 21,288 Fees payable lo the Charitable Company's auditor in respect of.. All non-audil services not included above 750 1,000 12. Trustees, remuneration and expenses During the year, no Trustees received any remuneration or other benefils12023 £NILI. During the year ended 31 March 2024, expenses lolalling £110 were reimbursed or paid direclly lo 1 Trustee12023 - £N IL lo Trustee) These reimbursements were in relation lo travel expenses. Page 24
MID AND NORTH ESSEX MIND {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 13. Staff Gosts 2024 2023 Wages and salaries Social security costs Pension cosls 1,895.798 149,296 69,788 1,894,877 151,166 27,650 2,114,882 2,073,693 Included within wages and salaries is a setllem8nt payment of £Nil (2023., £11,758). The average number of persons employed by the Charitable Company during the year was as follows.. 2024 No. 2023 No. Employees 90 97 The number of employees whose employee benefits {ex¢luding employer pension Costs) exceeded £60,000 was.. 2024 2023 In the band £70,001 £80,000 K8y management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charitable Company. The lolal remuneration paid to key management personnel for SeiceS provided lo the charitable company was £308,052 {2023.' £183,442). 14. Exceptional items 2024 2023 Deprecialion adjustmènt- Mersea Road (48,5001 A depreciation adjustment was made in the prior year due lo a change in the estimated proportion of the land cost for the property at Mersea Road. Page 25
MID AND NORTH ESSEX MIND IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 15. Tangible fixed assets Freehold land and buildings Equipment Total Cost or valuation Al 1 April 2023 Additions 717.515 114,882 3,632 832,397 3,632 Al 31 March 2024 717,515 118,514 836,029 Depreciation Al 1 April 2023 Charge for the year 67,793 7,950 99,238 14,724 167,031 22,674 Al 31 March 2024 75,743 113,962 189,705 Net book value Al 31 March 2024 641,772 4,552 646,324 Al 31 March 2023 649,722 15,644 665,366 16. Debtors 2024 2023 Due within one year Trade debtors Prepayments and accrued income 61,306 98,642 56.582 57,090 159,948 113,672 Page 26
MID AND NORTH ESSEX MIND {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 17. Creditors: Amounts falllng due within one year 2024 2023 Bank loans 7,855 49,694 24,646 241 85,335 30,426 27,211 32,515 279,311 149.577 Trade creditors Other laxalion and social security Olher creditors Accruals and deferred income 167,771 519,040 18. Credltors: Amounts falling due after more than one year 2024 2023 Bank loans 7,922 19. Loans The bank loan comprises ol a commercial mortgage from the bank. The interest ra18 on the mortgage is a fixed rale of 5.680/0 per annum. The loan is secured against the Mersea Road property. Included within amounts due after more than one year is an amount of £Nil12023'. £7,922) in respecl of bank loans payable or repayable which fall due for payment after more than one year bul less than five years from the reporting dale. Page 27
MID AND NORTH ESSEX MIND {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 20. Statement of funds Statement of funds current year Balance at 31 March 2024 Balance at 1 April 2023 TTansfers inlout Income Expenditure Unrestricted funds Designated funds Designated fund - Contingency fund 612,000 455,500 1,067,500 Designated fund - Buildings maintenance and equipment renewals Designated fund - Fixed assets Designated fund Organisalional Development 150,000 665,366 450,000 119,0421 600,000 646,324 286,000 286,000 1,427,366 1,172,458 2,599,824 General funds General fund 1,327,688 2,688.747 12,675.967) (1,130.868) 209,600 Total Unrestricted funds 2,755,054 2,688,747 12,675,967) 41,590 2,809,424 Restricted funds NHS ASD Project Suicide Awareness training Self-Harm Toolkil Hyperlocal Fund 133,000 23,284 86,551 133,000 23,945 64,421 2,766 6,000 44,940 9,990 (5,339) (25,480) 17,2241 141,5901 242,835 60,930 {38,0431 (41,5901 224.132 Total of funds 2,997,889 2,749,677 {2.714,0101 3,033.556 Paae 28
MID AND NORTH ESSEX MIND (A Company Llmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 20. Stalement of funds {continued) Statement of funds prior year Balance at 31 March 2023 Balance at 1 April 2022 Transfers inloul Income Expenditure Unrestricted funds Designated funds Designated fund - Contingency fund Designated fund Buildings maintenance and equipment renewals Designated fund Fixed assels 612,000 612,000 150,000 620,251 150,000 665,366 45,115 1,382,251 45,115 1,427,366 General funds General fund 944,231 2,708,346 12,651,020) 326.131 1,327,688 Total Unrestricted funds 2,326,482 2,708,346 {2.651,020} 371,246 2,755,054 Restricted funds NHS ASD Project Nature In Mind Essex Wide Crisis Cafe 218,284 6.035 229,623 25,927 185,284) 16, 035) (229,6231 12881 133,000 Suicide Awareness training Education Mental Health Practitioner Self-Harm Toolkit COVID 19 Costs ECF. IT Upgrade STaRs North Essex (Summer Project) Colchester Calalysl Mental Health Recovery Essex Local Delivery Pilot Mayoral Charity of the Year 6,000 (8,355> 23,284 127,4281 27,428 41,590 (19,172) 125, 355) 44,961 86.551 19,172 25,355 {500) 22,090 13.743 35,100 4,074 500 (22,090} (13,743) 135,1001 (4,0741 Page 29
MID AND NORTH ESSEX MIND {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 20. Statement of funds {continu8d} Statement of funds prior year (continued) Balance al 31 March 2023 Balance at 1 April 2022 Transfers inlout Income Expenditure 571,475 50,961 (8.3551 1371,2461 242,835 Total of funds 2,897,957 2,759,307 12,659,375) 2,997,889 Paqp. ,3n
MID AND NORTH ESSEX MIND IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 20. Statement of funds (continued) In the prior financial year, the charity conducted a comprehensive review of all expenditure incurred on all restricted projects and updated the accounts to show a true reflection of the costs incurred. This revièw identified that items were incorrectly restricted in the past. Therefore, the trustees are salisfied that £371,246 was lo be moved to Unrestricted funds. The Iruslees have allocated reserves lo the above designated fursds for the following purpos8S.' Contingency fund The lund represents unreslricled reserves equal lo meet the charities demands and Ihis will be re- al¢ulated annually, Organisational development This represents funds which have been designated lo invest for growth and service dévelopment to return lo break-even and deliver the charity's strategic plan. Building Maintenance and Equipment Renewals The charity has designated these reserves to maintain and replace property and fixed assets as they wear out. Restricted fund NHS ASD Project This fund relates lo granl income lo be used solely for the purpose of delivering early intervention and support to Young people aged 16-19 in North East Essex who are not in education, employment or training. Restricted fund Suicide Awareness This fund is currently holding donations for a GP Suicide awareness training project. Restricted fund Self-Harm Toolkit The fund relates lo a contract to support the maintenance and roll out of a 'self-harm management toolkit, in schools in mid Essex. There has been 8 £41,590 transfer in the current year from this restricted reserve into general reserves in relation lo a transfer in the prior period which was a designation rather than a restriction. Restricted fund Hyperlocal To deliver Mental Health Awareness and Suicide Awareness Training in the Community. Page 31
MID AND NORTH ESSEX MIND (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 21. Summary of funds Summary of funds - current year Balance at 31 March 2024 Balance at 1 April 2023 Transfers inlout Income Expenditure Designated funds G8neral funds Restricted funds 1,427,366 1.327,688 242,835 1.172,458 12,675,967) {1,130,868) 138,0431 {41,590} 2,599,824 209,600 224,132 2,688,747 60,930 2.997,889 2,749,677 12,714,010} 3,033,556 Summary of funds - prior year Balance al 31 March 2023 Balance al 1 April 2022 Transfers inloul Income Expenditure Designated funds General funds Restricted funds 1,382,251 944,231 571,475 45,115 2,708,346 12.651,0201 326,131 50,961 18,3551 {371,2461 1,427,366 1,327,688 242,835 2,897,957 2,759,307 {2,659,37SI 2,997,889 22. Analysis of net assets between funds Analysis of net assets between funds current period Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Tangible fixed assels Current assets 646,324 2,331,789 1167,771} (918} 646,324 2.555,921 1167,7711 {9181 224,132 Creditors due within one year Provisions for liabilities and charges Total 2,809,424 224,132 3,033,556 Paqp. .32
MID AND NORTH ESSEX MIND IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 22. Analysis of net assets between funds Icontlnued) Analysis of net assets between funds - prior period Unrestricted funds 2023 Reslricted funds 2023 Total funds 2023 Tangible fixed assets Current assets 665,366 2,618.615 1519,040) {7,922} 11,965} 665,366 2,861,450 1519,0401 {7,9221 11,9651 242,835 Creditors due within one year Creditors due in more than one year Provisions for liabilities and charges Total 2,755,054 242,835 2,997,889 23. Reconciliation of net movement in funds to net cash flow from operating activities 2024 2023 Net income for the peiiod las per Slatemenl of Financial Aclivilies) 35,667 99,932 Adjustments for: Depreciation charges Inleresl received 22,674 1114,4141 6,476 11,047) 146,276) 1328,698) {17,0921 {8,508} 3,052 142,435} 18,1071 400,065 Inleresl paid Movement on provisions Increase in debtors {Decreasellincrease in creditors Net cash (used inllgenerated from operating actlvlties {425,618) 426,907 24. Analysis of cash and cash equivalents 2024 2023 Cash in hand 243,369 1,496,442 Total cash and cash equivalents 243,369 1,496.442 Page 33
MID AND NORTH ESSEX MIND IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 25. Analysis of changes in net debt At 1 April 2023 Cash flows Al 31 March 2024 Cash al bank and in hand Debt due within 1 year Debt due after 1 year Liquid investments 1,496,442 130,4261 {7,9221 1.251,336 (1,253,073) 22.571 7,922 901,268 243,369 17,855) 2,152,604 2,709,430 1321,312} 2,388,118 P*lqP. .74
MID AND NORTH ESSEX MIND IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 26. TPT Retirement solutions - Thè Growth Plan The company participates in the scheme, a multi-employer SGheme which provides benefits to some 638 non-associated participating employers. The scheme is a defined benefit scheme in the UK. It is not possible for the company lo obtain sufficient information lo enable it lo account for the scheme as a defined benefit scheme. Therefore il accounts for the scheme as a defined contribution scheme. The scheme is subject lo the funding legislation outlined in the Pensions Act 2004 which came into force on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Acluarial Standards issued by the Financial Reporting Council, sel out the framework for funding defined benefit occupational pension schemes in the UK. The scheme is Classified as a 'last-man standing arrangement,. Therelore the company is potenti851y liable for other participating employers, obligations if those employers are unable to meet their share of the scheme deficit lollowing wilhdrawal from the scheme. Participating employers are legally required lo meet their share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme. A full actuarial valuation for the scheme was carried out 8130 September 2020. This valuation showed assets of £800.3m, liabilities of £831.9m and a deficit of £31.6m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme as follows: DeficSt contributions From 1 April 2022 10 31 January 2025= £3,312,000 per annum (payable monthly) Unless a concession has been agreed with the Trustee the term lo 31 January 2025 applies, Note that the scheme's previous valuation was carried out with an effective dale of 30 September 2017. This valuation showed assets of £794.9m, liabilities of £926.4m and 8 deficit of £131.5m. To eliminate this funding shortrall, the Trustee asked the participating employers lo pay additional contributions lo the scheme as follows.. Def Scit contributions From 1 April 2019 10 30 September 2025.. £11,243,000 per annum by 3°/0 each on 1 sl April) (payable monthly and increasing The recovery plan contributions are allocated to each participating employer in line wilh their estimated share of Ihe Series 1 and Series 2 scheme liabilities. Where the scheme is in deficit and where the company has agreed lo a deficit funding arrangement the company recognises a liability for this obligation. The amount recognised is the net presenl value of the deficit reduction contributions payable under the agreement that relates lo the deficit. The presenl value is calculated using the discount rale detailed in these disclosures. The unwinding of the discount rale is recognised as a finance cost. Page 35
MID AND NORTH ESSEX MIND IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 26. TPT Retirement solutions The Growth Plan {continuedl The discount rates shown below are the equivalent single discount rates which, when used to discounl the future recovery plan contributions due, would give the same results as using a full AA corporate bond yièld curve lo discount the same recovery plan conlribulions. At 31 March Al 31 March 2024 2023 Discount rale 5.31 5.52 The amounts recognised in the Stalemenl of Financial Activities are as follows.. 2024 2023 Interest cost 75 58 1521 Remeasuremenls - impact of any change in assumptions Total amount recognised in the Statement of Finan¢ial A¢tlvities 76 Movements in the present value of the defined benefit obligation were as follows: 2024 Opening defined benefit obligation Unwinding of the discount factor {interest expense) Losses on curtailments Remeasurements - impact of any change in assumptions 1,965 75 11,1231 Closing defined benefit obligation 918
MID AND NORTH ESSEX MIND IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 26. TPT Retirement solutions - The Growth Plan (continued) Movements in the fair value of the Charitable Company's share of scheme assèls were as follows.. 2024 Opening fair value of scheme assets Contributions by employer Contributions by scheme participants 42,435 1,047 75 Closing fair value of scherne assets 43,557 Deficit contribution schedule Year ending Year 1 Year 2 Year 3 31 March 2024 {£sl 936 31 March 2023 l£sl 1123 936 31 March 2022 l£s} 1123 1123 936 Mid and Norih Essex Mind are planning lo leave the scheme during the 202412025 finan¢ial year. 27. Operating lease commitments At 31 March 2024 the Charilable Company had commitments lo make future minimum lease payments under non-cancellable operating leases as follows.. 2024 2023 Not later than 1 year Later than 1 year and not later than 5 years 26,032 15,135 34,860 33,240 41,167 68,100 28. Related party transactions During the year. an affiliation fee of £1,375 12023. £1,375) was paid lo MIND. There werè no amounts remaining due al the year end datè. Page 37