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2024-03-31-accounts

Charity registration number 1073597

Company registration number 3610218 (England and Wales)

VALE OF CLWYD MIND ASSOCIATION

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

VALE OF CLWYD MIND ASSOCIATION

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr D A Jones
Mrs J M Gilmore
Mr C Wynne
Mr M J Young
Mr G Evans
Mrs Karen Billinge
Mr A Kirkwood
Mrs C Jones (Appointed 7 November 2023)
Secretary Mr P Moore
Charity number 1073597
Company number 3610218
Principal address 82 Marsh Road
Rhyl
Denbighshire
Wales
LL18 2AE
Registered office Unit 32, Llys Edmund Prys
St Asaph Business Park
St Asaph
Denbighshire
LL17 0JA
Auditor Harold Smith
Unit 32, Llys Edmund Prys
St Asaph Business Park
St Asaph
Denbighshire
LL17 0JA
Bankers Natwest
St Peter's Square
Ruthin
Denbighshire
LL15 1DW
Solicitors Swayne Johnson
2 Hall Square
Denbigh
Denbighshire
LL16 3PA

VALE OF CLWYD MIND ASSOCIATION

CONTENTS

Page
Trustees' report 1 - 6
Statement of trustees' responsibilities 7
Independent auditor's report 8 - 10
Statement of financial activities 11
Balance sheet 12
Statement of cash flows 13
Notes to the financial statements 14 - 27

VALE OF CLWYD MIND ASSOCIATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2024

The trustees present their annual report and financial statements for the year ended 31 March 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

Vision statement

The charity's objects are to keep people and communities mentally healthy throughout their lives.

Mission statement

Vale of Clwyd Mind is a leading Mental Health Charity in Wales.

We will maintain our autonomy working closely and collaboratively with like minded individuals and organisations.

We are:

Guiding principles

Key values

VALE OF CLWYD MIND ASSOCIATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Achievements and performance

Supported Self Help (GP & Online)

The Supported Self Help Contract with BCUHB continues to be delivered in the GP Clusters across North Denbighshire to South & Central Denbighshire. We have continued to exceed contractual numbers in this regard. The feedback from Service Users and our Commissioners continues to be positive. For those who have completed the full programme there has been a great success rate recorded. Unfortunately, due to funding constraints within BCUHB the service is coming to a contractual end after 9 years of delivery in March 2024.

The Supported Self Help Online contract funded via Mind Cymru ended during this financial period in September 2023, this was due to the funding from Welsh Government coming to an end.

Help through Hardship

We have continued to deliver a pilot project funded via National Mind called 'Help through hardship' in partnership with CAB & Trussell Trust. The funding is in place for 12 months and we are utilizing DORIS across Denbighshire to assist in the delivery of this service.

Mental Health & Wellbeing Service

The service continues and will be extended for a period of 12 months until June 2025. The service is held in high regard by all stakeholders, commissioners and users.

Community Services

The Community Services Manager continues to co-ordinate and manage the team who provide our counselling services (Parabl and general counselling).

Walking Group

The walking groups are enjoyed across all areas, all led by our walking group leader Paul Hughes.

Support Groups

The charity continues to maintain multi-purpose premises in central Rhyl which, apart from providing a base for central administration, also serves as a permanent base for social activities in that area. We also continue to provide support services in the form of ‘Drop ins’ in Rhyl, Denbigh, St Asaph, Ruthin, Prestatyn, Llangollen and Corwen.

Headquarters

The office is again in full use following on from the pandemic and all activities have been resumed including Mahoney’s. A number of staff are continuing to work in a ‘Hybrid’ manner’ which has benefited all due to the increased number in our workforce.

Central Services/Finance

We have successfully recruited two new administrators to support the day to day operations of the organisation. This has enabled us to look at the back office and foundations of the organisation including communication, filing, SharePoint and overall general resources and support. This area continues to be developing and is evolving. We are subject to an external audit during this financial year and due to the amalgamation of the bank accounts and the systems implemented to support our financial processes the audit was passed in all areas with special thanks going to M Ellis for managing this.

The charity has developed a new website (www.vocmind.co.uk), and has built on its other social media presence. This forthcoming year we will be continuing to develop both our website and social media to support the Charities Day to operations, profile and fundraising.

VALE OF CLWYD MIND ASSOCIATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Strategic Direction

Following a review of our goals, and consulting with our stakeholders, Service Users, Volunteers and Staff, the Board together with the management team have continued to work on reviewing the strategy from last year to set our direction for the coming years. We review the strategy continuously to ensure we are meeting targets and we are keeping members informed via regular newsletters using the strategy as a theme.

Quality

Following an in depth review of the charity operations we were awarded our Mind Quality Mark (MQM) status in November 2023 which is valid for a period of three years.

Policies

The Policy Committee have met bi- monthly to review our policies in line with the three -year cyclical plan.

Housing

Existing supported housing schemes at Butterton Road, Wellington Road and Elwy Street in Rhyl have maintained 96% occupancy during the fiscal year. These bring in vital revenue for the organisation to support our activities.

Y Gelli, our 24-hour care home in Denbigh has continued to provide an invaluable service and has remained at full capacity throughout the year.

Buttermarket

In September 2023 we were successful in our bid for funding to develop The Buttermarket project in Denbigh having secured over £1.4 million of capital funding from the Shared Prosperity Funding administered by Denbighshire County Council and funded by the UK Government, alongside this we have secured additional match funding enabling the redevelopment of this £2.2million project to have been successfully tendered with the contractors Harley & Clarke Construction staring on site 27[th] November 2023 for a 40 week program. Work is ongoing in this area to draw down all match funding, ensuring the success of this project. The Buttermarket will become a Heritage, Cultural and Wellbeing Centre in the heart of Denbigh town and will provide a fantastic community resource along with a purpose-built home for our services along with other 3[rd] sector partners.

Musical Groups

All music groups are back in full swing and have grown in numbers. Both groups are enjoyed by many.

Volunteers

We continue to improve on our support for volunteers and how we appreciate and thank them for their input to support our many projects.

Normal volunteer activities and support have continued to recommence following on from the pandemic and we are extremely pleased to report that this year the charity’s projects and beneficiaries have continued to receive valuable support from volunteers in the form of 4,300 hours of their time freely donated. The monetary value to the organisation equates to approximately £53,750. The Volunteers social contribution and support to the organisation’s projects is vital and the Board extremely appreciates this.

The Association is very grateful for all donations received and would like to acknowledge them, the total donation for this last year amounted to £13,807.

Finally, the Trustees would like to express our gratitude to each and every member of staff and our volunteers, who continue to contribute to the success of our work and mission.

In January 2024 the charity has taken the decision that we need to actively fundraise to help bridge the gap from funding available and raise our profile and awareness regarding Mental Health. Currently plans are being developed linked to our Website, Social Media and General Marketing. In addition to our own fundraising activities due to commence, generally, members of the public will fundraise without being asked and donate the proceeds to us. The charity does not monitor external fundraising activities of the general public. There were no complaints received regarding any individuals’ fundraising activities. If the charity was to receive any complaints, we would utilise internal complaints procedures to look into the matter.

VALE OF CLWYD MIND ASSOCIATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

The charity does not actively fundraise or engage professional fundraisers or commercial participators. Generally, members of the public will fundraise without being asked and donate the proceeds to us. The charity does not monitor external fundraising activities of the general public. There were no complaints received regarding any individuals fundraising activities. If the charity was to receive any complaints, we would utilise internal complaints procedures to look into the matter.

Financial review

The Trustees continue to hold the charity’s activities under regular critical review, particularly with regard to the continuing recession, changes in legislation and grant distribution and the needs of the local community.

The charity’s property portfolio has proved to be a valuable asset, as well as providing a vehicle for beneficiary support and the Trustees are committed to extending this portfolio with time.

Principal Funding Sources

Grant funding for the fiscal year accounts for approximately forty per cent of the organisation’s income and has been provided from several sources, including Denbighshire County Council, National Mind and Betsi Cadwaladr University Health Board.

The balance of incoming resources is provided by bank and investment income and income from supported housing rental, donations and service provision. Within the constraints of the reserves policy, the Trustees seek to increase this proportion with time, ensuring stability for core operations.

The Trustees historically established a policy whereby unrestricted funds held by the charity should equate to not less than six months resources expended and not more than twelve months resources expended. At this level, the Trustees felt they had adequate protection in the event of:

  1. Continuation of services in the event of late receipt of grants.

  2. Continuation of services after a grant has ended and whilst replacement funding is sought.

  3. Properly ending a project in the event of grant funding ending and no replacement funding being available. This is particularly relevant to Housing Projects.

  4. An opportunity arising to commission a new service, where grant funding is not immediately available, the Trustees would wish to provide initial investment for evaluation and, possibly, commencement of the project.

  5. Or any combination of the above.

However, prevailing circumstances caused the Trustees to revise this upwards in the financial year 2011/12, due to the continued recession and several other potential pressures upon the organisation’s funds.

With traditional grant funding rapidly diminishing on several fronts, the organisation is better placed to continue in the short term, until alternatives are found.

The free reserves at year end stand at £225,341 (2023 - £386,460).

Investment policy

The memorandum and articles of association give the trustees the power to invest funds as they think fit, subject to the requirements of the law. Within these constraints, the trustees have selected investments they consider to be prudent.

Risk management

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

VALE OF CLWYD MIND ASSOCIATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

As part of their governance duties, the trustees ensure that all major risks to which the charity is exposed are reviewed on a regular basis and that systems are in place to mitigate such risks. The trustees consider that a major risk is one that, if it materialised, would have significant adverse impact on the charity’s ability to function or achieve its purpose.

The trustees do not consider that all risks should be avoided. They are not averse to taking reasonable risks as part of their strategy to achieve the charity’s objectives.

The trustees expect that staff and volunteers will not engage in significant types of activities, which are not similar to the activities the trustees are already aware of, without first having made to the trustees a proper proposal, including a risk analysis of the activities.

The trustees have a similar expectation in relation to significant increases or changes in activities already pursued by the charity.

Future plans

The Association, in common with many other organisations, faces a difficult future, as much of traditional grant funding is under critical review by its providers. Indeed, the very nature of future grant funding is changing in favour of issues seen in a larger context, operated by consortiums or an allegiance of charities, rather than single organisations.

With this in mind, bids have been and will continue to be, as appropriate, submitted, in conjunction with other organisations, with a view to:

Structure, governance and management

The charity is a company limited by guarantee and is governed by a memorandum and articles of association as amended on 21 March 2013.

All assets and liabilities were transferred from the Vale of Clwyd Mind Association (Charity number 507853) on 1 April 1999.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr D A Jones Mrs J M Gilmore Mr C Wynne Mr D L Jones (Resigned 7 November 2023) Mr M J Young Mr G Evans Mrs Karen Billinge Mr A Kirkwood Mrs C Jones (Appointed 7 November 2023)

Trustees may be appointed in a number of different ways, by nomination of other trustees, by election by members or by virtue of their position. The procedures for appointing new trustees, including any restrictions on trusteeship, such as maximum number or restrictions are set out in the charity’s governing document.

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up. The number of guarantees as at 31 March 2024 was 8.

There was an indemnity provision in place during the year for the benefit of the trustees.

VALE OF CLWYD MIND ASSOCIATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

The organisational structure

A Board that meets every two months governs the organisation and there are three organisational committees (Finance, Policy and Health & Safety) that meet no less than six times a year. Each of the foregoing is governed by Terms of Reference documents.

The day-to-day management of the organisation is delegated to the Company Secretary/Chief Executive Officer, whose duties and responsibilities are clearly defined in the position’s job description.

Trustee induction and training

Trustees are offered an opportunity to become familiar with all the projects and the organisation as a whole and provided with training, as necessary. They are invited to attend all the organisational committees and advisory groups as part of their induction. After which they are better placed to identify how they can contribute to the governance of the organisation.

The trustees set the pay and remuneration of the charity's key management personnel in line with market rates.

The relationship between the charity and related parties

The organisation is affiliated to MIND (The National Association for Mental Health) and its continued association is contingent upon meeting their Quality Assurance standards.

The organisation has a number of service contracts with other parties and all such contracts are governed by individual service level agreements and are strictly monitored and reviewed by the contractor.

Auditor

In accordance with the company's articles, a resolution proposing that Harold Smith be reappointed as auditor of the company will be put at a General Meeting.

Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

Regard to Charity Commission guidance on public benefit

The trustees have had regard to the Charity commission's guidance on public benefit.

Disclosure of information to auditor

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The trustees' report was approved by the Board of Trustees.

Mr P Moore

Company Secretary

Dated: 17 December 2024

VALE OF CLWYD MIND ASSOCIATION

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2024

The trustees, who are also the directors of Vale of Clwyd Mind Association for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

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

VALE OF CLWYD MIND ASSOCIATION

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF VALE OF CLWYD MIND ASSOCIATION

Opinion

We have audited the financial statements of Vale of Clwyd Mind Association (the ‘charity’) for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including 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 of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

VALE OF CLWYD MIND ASSOCIATION

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF VALE OF CLWYD MIND ASSOCIATION

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's 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 detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

In identifying and assessing risks of material misstatement the audit engagement team:

Risks, legislation and Audit response regulations identified

Revenue recognition Testing a sample of transactions recognised either side of the reporting date to determine whether revenue was recorded in the correct period.

Management override of controls

Testing the appropriateness of journal entries and other judgements; Assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and

Evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

VALE OF CLWYD MIND ASSOCIATION

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF VALE OF CLWYD MIND ASSOCIATION

Risks, legislation and Audit response regulations identified

Charities SORP (FRS 102) Review of the financial statement disclosures and testing to supporting and Companies Act 2006 documentation; and Completion of disclosure checklists to identify areas of non-compliance.

Employment law and health ISAs limit the required audit procedures to identify non-compliance with these laws and safety and regulations to inquiry of management and where appropriate, those charged with governance (as noted above) and inspection of legal and regulatory correspondence, if any.

Our audit procedures were designed to respond to risks of material misstatements in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion.

There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Christopher Jones BSc ACA (Senior Statutory Auditor)

for and on behalf of Harold Smith

Chartered Accountants Statutory Auditor

19 December 2024 Unit 32, Llys Edmund Prys St Asaph Business Park St Asaph Denbighshire LL17 0JA

Harold Smith is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

VALE OF CLWYD MIND ASSOCIATION

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted
Restricted
funds
funds
2024
2024
Notes
£
£
Income and endowments from:
Donations and legacies
3
56,464
890,017
Charitable activities
4
577,418
-
Other trading activities
5
8,264
-
Investments
6
7,466
-
Other income
7
24,981
-
Total income
674,593
890,017
Expenditure on:
Charitable activities
8
810,381
753,651
Total expenditure
810,381
753,651
Net income/(expenditure) and
movement in funds
(135,788)
136,366
Reconciliation of funds:
Fund balances at 1 April 2023
799,800
316,317
Fund balances at 31 March
2024
664,012
452,683		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
946,481
33,852
427,311
577,418
572,263
-
8,264
5,457
-
7,466
1,443
-
24,981
261
-
1,564,610
613,276
427,311
1,564,032
663,593
515,292
1,564,032
663,593
515,292
578
(50,317)
(87,981)
1,116,117
850,117
404,298
1,116,695
799,800
316,317		 Total
2023
£
461,163
572,263
5,457
1,443
261
1,040,587
1,178,885
1,178,885
(138,298)
1,254,415
1,116,117

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

VALE OF CLWYD MIND ASSOCIATION

BALANCE SHEET

AS AT 31 MARCH 2024

Notes
Fixed assets
Tangible assets
14
Current assets
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due within
one year
16
Net current assets
Total assets less current liabilities
The funds of the charity
Restricted income funds
19
Unrestricted funds
20		 2024
£
118,523
272,976
391,499
(118,871)		 £
844,067
272,628
1,116,695
452,683
664,012
1,116,695		 2023
£
96,588
416,935
513,523
(60,746)		 £
663,340
452,777
1,116,117
316,317
799,800
1,116,117

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024, although an audit has been carried out under section 144 of the Charities Act 2011.

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 to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476.

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

The financial statements were approved by the trustees on 17 December 2024

Mrs J M Gilmore

Trustee

Company registration number 3610218 (England and Wales)

VALE OF CLWYD MIND ASSOCIATION

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024

2024
Notes
£
£
Cash flows from operating activities
Cash generated from/(absorbed by)
operations
25
29,392
Investing activities
Purchase of tangible fixed assets
(180,817)
Investment income received
7,466
Net cash used in investing activities
(173,351)
Net cash used in financing activities
-
Net decrease in cash and cash equivalents
(143,959)
Cash and cash equivalents at beginning of year
416,935
Cash and cash equivalents at end of year
272,976		 2023
£
£
(208,965)
(26,189)
1,443
(24,746)
-
(233,711)
650,646
416,935

VALE OF CLWYD MIND ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

Charity information

Vale of Clwyd Mind Association is a private company limited by guarantee incorporated in England and Wales. The registered office is Unit 32, Llys Edmund Prys, St Asaph Business Park, St Asaph, Denbighshire, LL17 0JA.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

VALE OF CLWYD MIND ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a 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 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 activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end are noted as a commitment but not accrued as expenditure.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings Not depreciated Plant and equipment 25% on cost Motor vehicles 25% on reducing basis

Freehold land is not depreciated.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to 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 determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

VALE OF CLWYD MIND ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

(Continued)

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

These financial statements for the year ended 31 March 2024 are the first financial statements of Vale of Clwyd Mind Association prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 April 2022. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services 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 price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

VALE OF CLWYD MIND ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ 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 current and future periods.

Critical judgements

Depreciation

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their estimated useful lives. Plant and machinery is written off on a straight line basis over 4 year and motor vehicles are depreciated on a reducing balance basis at a rate of 25% per year. The trustees are required to to make judgements and estimates of the useful economic lives and residual values for each class of fixed asset.

3 Income from donations and legacies

Unrestricted
Restricted
funds
funds
2024
2024
£
£
Donations and gifts
13,807
-
Grants
42,657
890,017
56,464
890,017
Grants
Parabl and Counselling
16,912
-
Local Health Board -
Support Services
-
67,516
Local Health Board - Y
Gelli
-
150,029
Mind Cymru - AM online
-
47,158
Dorris On Tour and Help
Through Hardship
-
46,000
Local Mental Health
Grant
25,745
-
Allotment
-
8,333
BM Restricted Grant
-
431,500
Active monitoring
-
50,433
Mental Health and
Wellbeing
-
89,048
Other
-
-
42,657
890,017		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
13,807
8,108
-
932,674
25,744
427,311
946,481
33,852
427,311
16,912
-
22,241
67,516
-
66,103
150,029
-
150,029
47,158
-
50,876
46,000
-
45,016
25,745
25,744
-
8,333
-
6,563
431,500
-
-
50,433
-
-
89,048
-
81,984
-
-
4,499
932,674
25,744
427,311		 Total
2023
£
8,108
453,055
461,163
22,241
66,103
150,029
50,876
45,016
25,744
6,563
-
-
81,984
4,499
453,055

VALE OF CLWYD MIND ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

4 Income from charitable activities

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Charitable activities
Charitable rental income 574,078 570,746
Other income 3,340 1,517
577,418 572,263

5 Income from other trading activities

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Fundraising events 8,264 5,457
6 Income from investments
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Interest receivable 7,466 1,443
7 Other income
Unrestricted Unrestricted
funds funds
2024 2023
£ £
Other income 24,981 261

VALE OF CLWYD MIND ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

8 Expenditure on charitable activities

Charitable Charitable
activities activities
expenditure expenditure
2024 2023
£ £
Direct costs
Staff costs 832,591 808,169
Depreciation and impairment 91 122
Y Gelli 108,238 120,329
Support Services 19,177 5,981
Rhyl Housing Scheme 103,459 97,281
Elwy Street 31,940 11,808
Outreach - 24,964
Central Services 52,815 29,487
Allotment 5,372 2,205
Active Monitoring 7,004 11,683
My Generation 4,392 36
Buttermarket 328,478 22,844
Mental Health and Wellbeing 8,921 8,977
Active Monitoring Online 7,335 7,375
Doris On Tour 9,814 13,255
Other charitable expenditure 22,426 -
1,542,053 1,164,516
Share of support and governance costs (see note 9)
Governance 21,979 14,369
1,564,032 1,178,885
Analysis by fund
Unrestricted funds 810,381 663,593
Restricted funds 753,651 515,292
1,564,032 1,178,885
Support costs allocated to activities
Charitable Total
activities
expenditure
2024 2023
£ £
Operating lease charges 3,488 3,488
Governance 18,491 10,881

9 Support costs allocated to activities

VALE OF CLWYD MIND ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

9
Support costs allocated to activities
Governance costs comprise:
Audit fees
Legal and professional
Volunteer costs
AGM expenses
Affiliation fees
Sundry expenses
10
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Fees payable for the audit of the charity's financial statements
Depreciation of owned tangible fixed assets
Operating lease charges		 (Continued)
2024
2023
£
£
14,090
9,188
2,250
-
228
419
547
242
1,032
1,032
344
-
18,491
10,881
2024
2023
£
£
14,090
9,188
91
122
3,488
3,488		 (Continued)
2024
2023
£
£
14,090
9,188
2,250
-
228
419
547
242
1,032
1,032
344
-
18,491
10,881
2024
2023
£
£
14,090
9,188
91
122
3,488
3,488
10,881
2023
£
9,188
122
3,488

11 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

All trustees are entitled to receive reimbursement of expenses. No trustees were reimbursed for expenses during the year (2023: £13).

12 Employees

The average monthly number of employees during the year was:

Employment costs
Wages and salaries
Social security costs
Other pension costs		 2024
Number
30
2024
£
744,493
60,038
28,060
832,591		 2023
Number
32
2023
£
714,925
63,767
29,477
808,169

There were no employees whose annual remuneration was more than £60,000.

VALE OF CLWYD MIND ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

13 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

14 Tangible fixed assets

Freehold land
and buildings
£
Cost or valuation
At 1 April 2023
662,976
Additions
180,817
At 31 March 2024
843,793
Depreciation and impairment
At 1 April 2023
-
Depreciation charged in the year
-
At 31 March 2024
-
Carrying amount
At 31 March 2024
843,793
At 31 March 2023
662,976		 Plant and
equipment
£
199,946
-
199,946
199,946
-
199,946
-
-		 Motor
vehicles
£
72,810
-
72,810
72,445
91
72,536
274
364		 Total
£
935,732
180,817
1,116,549
272,391
91
272,482
844,067
663,340

The carrying value of land included in land and buildings comprises:

2024 2023
£ £
Freehold 843,793 662,976

Land and buildings with a carrying amount of £235,000 were revalued at May 2017 by Geoffrey Butterworth Chartered Surveyor, independent valuers not connected with the charity on the basis of market value. The valuation conforms to International Valuation Standards and was based on recent market transactions on arm's length terms for similar properties.

Since the revaluation, a further property has been purchased and developed for £608,793 making the total carrying value of land and buildings in the accounts £843,793.

At 31 March 2024, had the revalued assets been carried at historic cost less accumulated depreciation and accumulated impairment losses, their carrying amount would have been approximately £765,243 (2023 - £584,426).

Freehold land and buildings with a carrying amount of £608,793 (2023 - £427,976) have been pledged to secure borrowings of the charity. The charity is not allowed to pledge these assets as security for other borrowings or to sell them to another entity.

VALE OF CLWYD MIND ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

15 Debtors

Amounts falling due within one year:
Other debtors
Prepayments and accrued income		 2024
£
108,913
9,610
118,523		 2023
£
88,774
7,814
96,588

16 Creditors: amounts falling due within one year

Notes
Other taxation and social security
Deferred income
17
Other creditors
Accruals
Deferred income
Arising from government grants
Other deferred income		 2024
£
14,992
9,307
22,998
71,574
118,871
2024
£
7,409
1,898
9,307		 2023
£
13,397
11,003
2,837
33,509
60,746
2023
£
7,544
3,459
11,003

17 Deferred income

Income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. The use of the ‘accrual model’ option (section 24 of FRS 102) for the recognition of income from government grants is not permitted by this SORP and therefore not used.

In the case of a grant, evidence of entitlement will usually exist when the formal offer of funding is communicated in writing to the charity. However some grants will contain terms or conditions that must be met before the charity has entitlement to the resources.

Deferred income is included in the financial statements as follows:

Deferred income is included within:
Current liabilities
Movements in the year:		 2024
£
9,307		 2023
£
11,003

VALE OF CLWYD MIND ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

17 Deferred income (Continued)
Deferred income at 1 April 2023 11,003 899
Released from previous periods (11,003) (899)
Resources deferred in the year 9,307 11,003
Deferred income at 31 March 2024 9,307 11,003
18 Retirement benefit schemes
2024 2023
Defined contribution schemes £ £
Charge to profit or loss in respect of defined contribution schemes 28,060 29,477

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

VALE OF CLWYD MIND ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

19 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

Balance at
1 April 2022
r
£
Support Services
-
My Generation
8,914
Y Gelli
-
Supported Self Help
96,908
Buttermarket
252,371
Allotment
-
Parabl / Counselling
-
Doris On Tour and Help Through Hardship
15,004
Active Monitoring Online
3,832
Mental Health and Wellbeing
13,797
Winter Pressures Grant
1,900
Music On Tour
11,572
Training Groups
-
404,298		 Movement in funds
Incoming
esources
Resources
expended
£
£
66,103
(66,103)
4,499
(36)
150,029
(150,029)
-
(85,512)
-
(2,371)
6,563
(6,563)
22,241
(11,859)
45,016
(53,341)
50,876
(48,435)
81,984
(81,571)
-
(1,900)
-
(7,572)
-
-
427,311
(515,292)		 Transfers
Balance at
1 April 2023
r
£
£
-
-
4,000
17,377
-
-
-
11,396
-
250,000
-
-
-
10,382
-
6,679
-
6,273
-
14,210
-
-
(4,000)
-
-
-
-
316,317		 Movement in funds
Incoming
esources
Resources
expended
£
£
67,516
(67,516)
-
(3,759)
150,029
(150,029)
50,433
(52,260)
431,500
(276,104)
8,333
(8,333)
-
(10,382)
46,000
(47,545)
47,158
(51,415)
89,048
(76,705)
-
-
-
-
-
(9,603)
890,017
(753,651)		 Transfers
Balance at
31 March 2024
£
£
-
-
(12,878)
740
-
-
2,016
11,585
-
405,396
-
-
-
-
-
5,134
(2,016)
-
-
26,553
-
-
-
-
12,878
3,275
-
452,683		 Transfers
Balance at
31 March 2024
£
£
-
-
(12,878)
740
-
-
2,016
11,585
-
405,396
-
-
-
-
-
5,134
(2,016)
-
-
26,553
-
-
-
-
12,878
3,275
-
452,683
452,683

VALE OF CLWYD MIND ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

20 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

General funds
Revaluation reserve
Previous year:
General funds
Revaluation reserve
Analysis of net assets between funds
At 31 March 2024:
Tangible assets
Current assets/(liabilities)
At 31 March 2023:
Tangible assets
Current assets/(liabilities)		 At 1 April
2023
Incoming
resources
Resources
expended
At
£
£
£
721,250
674,593
(810,381)
78,550
-
-
At 1 April
2022
Incoming
resources
Resources
expended
At
£
£
£
771,567
613,276
(663,593)
78,550
-
-
Unrestricted
Restricted
funds
funds
2024
2024
£
£
438,671
405,396
225,341
47,287
664,012
452,683
Unrestricted
Restricted
funds
funds
2023
2023
£
£
413,340
250,000
386,460
66,317
799,800
316,317		 31 March
2024
£
585,462
78,550
31 March
2023
£
721,250
78,550
Total
2024
£
844,067
272,628
1,116,695
Total
2023
£
663,340
452,777
1,116,117

21 Analysis of net assets between funds

VALE OF CLWYD MIND ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

22 Fund details

Y Gelli: A fund that provides service users with 24 hour residential care in Denbigh.

Support Services: A fund that provides service users with a variety of social activities, sporting activities and self-help groups.

Parabl, Counselling and Training: A fund for outreach work with people experiencing mental health problems.

Supported Self Help: A service providing help to people who suffer with low to medium mental health problems based in GP practices in North Denbighshire.

My Generation: A service helping the older generation to get out and about.

Buttermarket Project: A fund providing well being and cultural services to the local community.

Allotment: Our allotments provide a stress relieving safe and healthy environment where our members learn about growing and using their produce. Spending time in green space or bringing nature into your everyday life can benefit both your mental and physical wellbeing.

Doris On Tour and Help Through Hardship: Mind, Citizens Advice and The Trussell Trust have come together to support and campaign for people experiencing both mental health problems and poverty. This support is in part being delivered in D.O.R.I.S our mobile outreach vehicle.

Active Monitoring Online: This is a free six-week programme designed to help individuals better understand their current situation and feel more able to manage their thoughts and feelings by empowering them to develop coping strategies to better manage their situation through a 6 week program.

Mental Health and Wellbeing: The project helps hard pressed GPs who have only limited time to spend with each patient. The patients are seen, assisted and recover quickly and this helps to cut NHS costs in terms of GP and reception time and reduces the need for medication.

Winter Pressures Grant: This was a one off grant made available to provide food and fuel vouchers to individuals who were struggling due to the cost of living that accessed our services across Denbighshire.

Music On Tour: A music and performance therapy group that performs together as peers. Many members have gained much more than they could ever have imagined through the power of music and performance.

23 Operating lease commitments

Lessee

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year
Between two and five years		 2024
£
3,488
6,560
10,048		 2023
£
3,488
10,058
13,546

VALE OF CLWYD MIND ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

24 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

25
Cash generated from operations
Surplus/(deficit) for the year
Adjustments for:
Investment income recognised in statement of financial activities
Depreciation and impairment of tangible fixed assets
Movements in working capital:
(Increase) in debtors
Increase/(decrease) in creditors
(Decrease)/increase in deferred income
Cash generated from/(absorbed by) operations		 2024
2023
£
£
577
(138,297)
(7,466)
(1,443)
91
122
(21,935)
(63,151)
59,821
(16,300)
(1,696)
10,104
29,392
(208,965)

26 Analysis of changes in net funds

The charity had no material debt during the year.