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← Solent Mind

2025-03-31-accounts

REGISTERED COMPANY NUMBER: 4004500 (England and Wales) REGISTERED CHARITY NUMBER: 1081116

Report of the Trustees and

Financial Statements for the Year

Ended

31st March 2025 for

Solent Mind

Solent Mind

Contents of the Financial Statements for the Year Ended 31st March 2025

Page
Report of the Trustees 1 to 17
Report of the Independent Auditors 18 to 20
Consolidated Statement of Financial Activities 21 to 22
Balance Sheet 23
Cash Flow Statement 24
Notes to the Cash Flow Statement 25
Notes to the Financial Statements 26 to 44

Report of the Trustees for the Year Ended 31st March 2025

Solent Mind

The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report incorporating a strategic review with the financial statements of the charity for the year ended 31st March 2025. The trustees have adopted the provisions of 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).

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, its Memorandum and Articles of Association, being a company limited by guarantee, as defined by the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

4004500 (England and Wales)

Registered Charity number

1081116

Registered office

15-16 The Avenue Southampton SO17 I XF

Trustees

Appointed Resigned
John Wilderspin - Chair 06/09/2018 14/11/2024
Robin Goater – Treasurer 06/09/2018 12/06/2024
Gareth George 18/09/2019
Ruth Poyner 18/09/2019
Richard Pullen 15/10/2020
Haseeb Shakoor 29/01/2020
Denise Vine 26/05/2021
Simon Wickes 26/05/2021
Lucy Robins 26/05/2021
Helen Fuge 05/10/2022
Neil Sahota 07/12/2022 12/06/2024
Claire Lowe – Chair from 14/11/2024 25/09/2024
John Carter – Treasurer 25/09/2024
Vanessa Soh 11/12/2024
Karina Hourd 11/12/2024
Kath Shimmin 11/12/2024

Company Secretary

Sally Arscott - appointed 13 June 2022

Senior Statutory Auditor

Sarah Alexander FCCA FCA

Independent auditors

Lewis Brownlee (Chichester) Limited Chartered Accountants Appledram Barns Birdham Road Chichester, PO20 7EQ

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Report of the Trustees for the Year Ended 31st March 2025

Solent Mind

Administration Information

Solent Mind is a company limited by guarantee, as well as a registered charity. The charity was created in 1962, and the company was created in 2000. The written constitution and governing document is the Memorandum and Articles of Association, which was last amended in 2023.

The Board of Trustees are responsible for setting pay and remuneration of senior management personnel, any additional payments are based on an agreed set of parameters. Trustees also approve the annual staff pay review.

The role of the Board is also to review all major risks and to ensure risk management processes are in place and effective to manage and mitigate for those risks.

Recruitment and appointment of Trustees/ Directors:

Periodically the Trustee Board does a skills audit and seeks to address identified skills gaps when appointing to vacancies. Vacancies are published, with applicants asked to describe how their skills and experiences match the person specification and role description. Shortlisted candidates are then interviewed by the Chair and the Chief Executive. Where it is agreed to proceed, they are invited to attend a meeting of the Trustee Board and then to apply to become a member of Solent Mind and being formally co-opted as a trustee and director.

During 2024/25 three Trustees resigned including the Chair and the Treasurer and five new Trustees were appointed including the new Chair and Treasurer and three new Trustees appointed linked to specific skills and experiences to enhance the Board.

Additional Information

The day-to-day management of the organisation is delegated to the Chief Executive, who is also the designated Company Secretary. Sally Arscott has been in the role of Chief Executive since 13th June 2022, and has driven the new purpose, values and strategy for Solent Mind which was formally launched in June 2024.

The Chief Executive is supported by the Senior Management Team and in 2024/25, this was as follows: Clare Grant: Assistant Director of Services (leaver Aug 2024)

Sue Mills: Interim Director of HR (leaver Jun 2024)

Kevin Jones: Director of Finance Robert Wayman: Director of Fundraising, External Engagement and IT Sarah Brightwell: Director of Inclusion and Impact (leaver Feb 2025) Polly Hicks: Director of People and Culture (starter May 2024) Ian Stiff: Chief Operating Officer (starter Jun 2024)

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Solent Mind Report of the Trustees for the Year Ended 31st March 2025

Engagement with Employees

Solent Mind is committed to good communication so that staff and volunteers are better informed about the organisation, are involved in shaping future plans and are consulted about proposals and developments.

To help us to achieve this, Solent Mind Matters (SMM), our staff and volunteer forum, meets on a quarterly basis. The CEO and People and Culture Director attend all meetings with other members of the Senior Management Team included as requested. SMM is made up of a diverse range of representatives from across the organisation. Its aims are as follows:

  1. promote good relations between trustees, managers, staff and volunteers through improved dialogue

  2. engage staff and volunteers in contributing to Solent Mind’s plans and policies, including those which directly affect all

  3. support staff whose jobs are changing

  4. jointly solve organisational problems and issues

  5. share information about changes in funding and new developments

  6. promote themes to be discussed at the regular “Ask the Directors” meetings

  7. to encourage staff to raise any concerns they have for discussion with SMT

The representatives listen to both positive and constructive feedback from across the organisation and bring issues to address or discuss to the quarterly meetings. The minutes of the meetings are published for all staff.

All staff can attend the “Ask the Directors” meetings and submit questions in advance anonymously or contribute within the session. Solent Mind also has policies and processes to support any issues including mediation, grievances and whistleblowing. The annual staff conference provides a forum for all staff to meet and be involved in strategy, operational plans and to share stories and celebrate successes.

Greenhouse Gas Emissions, Energy Consumption and Energy Efficiency

Solent Mind’s energy consumption is less than 40,000 kWh per annum and therefore detailed disclosures are not provided. Solent Mind is committed to using renewable energy and to reduce its impact on the environment wherever possible.

Solent Mind has a Carbon Reduction Plan with a baseline year of 2023/24 which makes a commitment to achieve net zero emissions by 2035. Total Carbon emissions for 2024/25 were 99.48 tCO2 compared to the baseline year of 105.07 tCO2 a reduction of 5.3%. The Carbon Reduction Plan identifies the actions implemented to achieve the positive progress in 2024/25 and the actions being made to support further savings to remain in line with target emissions reductions.

The following provided services to the charitable company during 2024/25:-

Bankers:

Unity Trust Bank, 4 Brindleyplace, Birmingham, BI 2JB. Handelsbanken, Oceana House, 39-49 Commercial Road, Southampton, SO15 1GA

Solicitors:

Shoosmiths: Forum 5, Parkway, Whiteley, Fareham, PO15 7PA Womble Bond Dickinson: Oceana House, Commercial Road, Southampton, Hampshire, SO15 1GA Blake Morgan, New Kings Court, Tollgate, Chandler's Ford, Eastleigh, Hampshire, SO53 3LG

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Solent Mind Report of the Trustees for the Year Ended 31st March 2025

Strategic Review

Structure, Governance and Management

Solent Mind is governed by a Trustee Board which meets every two months, with Sub Committees having specified areas of delegated authority; a Finance, Information, Risk & Compliance Subcommittee, the Services and Community Subcommittee and People & Quality Subcommittee.

The Trustees are also Directors of the Charity. The Trustees are ultimately responsible for all the operational activities and developments of the organisation. They have a particular responsibility for setting the strategic direction and agreeing to and monitoring the impact of policies and practice. There are established systems for trustee appraisal and trustees use their expertise to link into each service area. Terms of Reference for the Board and each Sub Committee are reviewed annually. The responsibilities of managers and staff for day-to-day operations are set out in Solent Mind's Delegated Authority Procedures.

The Trustees normally allocate an away day twice a year for their own training and development. In 2024/25, in the June 2024 awayday there was a review of risk and a discussion on risk appetite, this was followed by Trustee Safeguarding training. The November 2024 meeting included discussions on merger in the charity sector and governance.

Solent Mind is committed to being a diverse and inclusive charity. We strongly believe that a diverse board can make better decisions, improve the quality of governance and increase public trust. Board members include both male and female, a range of ages, lived experience of mental health issues and diverse backgrounds including BAME. We strive to represent the communities we exist to serve.

A trustee handbook is maintained, covering the role and responsibilities of trustees including key organisational documents such as risk management, safeguarding, health and safety and fundraising policies. It is provided to each new trustee following appointment. This handbook is updated annually. Trustees sign a Code of Conduct on joining the board. As part of the induction process, an induction checklist is carried out enabling trustees to attend key meetings with directors and managers, opportunity to attend Solent Mind Induction online course, provided with information to access Learnzone to attend mandatory training.

Solent Mind is affiliated to Mind, the national mental health charity, as a Local Mind Association, the terms of this relationship being set out in the Mind Federation Agreement most recently signed on 1st April 2021. The next Federation Agreement is available in draft form and is expected to be actioned in 2025/26 alongside the Mind Quality Mark renewal which ensures consistency and quality across all the federated Mind charities. National Mind does not provide financial or managerial support to Solent Mind for the payment of the membership fee. However, the federation of charities work together to share best practice, support and ultimately aim to support the delivery of mental health support to our communities.

Solent Mind shares broadly the same charitable objects as other Local Mind Associations. Further to the provisions in the Federation Agreement, Solent Mind also has a Memorandum of Understanding with its neighbouring Local Minds, Andover Mind and Havant & East Hants Mind and this sets out the shared vision and values for promoting better mental health to the communities of Hampshire. This supplements the ongoing collaboration whereby Solent Mind, Andover Mind and Havant & East Hants Mind have created a Community Interest Company ("Hampshire Mind CIC") to jointly deliver mental health services across Hampshire.

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Solent Mind Report of the Trustees for the Year Ended 31st March 2025

Strategic Review (cont.)

Solent Mind takes advantage of Mind publicity, information and training as well as practical measures such as the block insurance policy. More importantly, Solent Mind joins with Mind and its regional network in national campaigning events and initiatives to support the charitable aims and promote the benefits of the charitable group.

Risk Assessment:

Solent Mind’s Risk Register is reviewed at the Finance Information Risk and Compliance (FIRC) Committee, a subcommittee of the Trustees’ Board. FIRC meets roughly six times per year and reports directly into the Board meetings. The Trustees held a workshop session on risk management at their Board Awayday in June 2024. The Risk Register assesses risks for probability and impact to generate a risk score to assess risk significance. For each risk, the control measure and remedial action plans are used to determine and then mitigate the level of residual risk, and for major decisions to assess risk appetite. Major risks are also reported as part of the monthly financial reports to SMT and Trustees and included in the CEO report to every Board meeting.

Safeguarding practice, Data Protection and Public Interest Disclosure (whistleblowing) policies are reviewed each year. All staff undertake online safeguarding training in their first few days of employment and this is supplemented with in-person training at our induction days which are held every 6 weeks. Cyber-security tests are actioned regularly including penetration testing and phishing simulations to ensure systems and staff are resilient to cyber risk.

Volunteers:

We continue to support our volunteer workforce and during 2024/25 and have invested within the year by creating a new role of Volunteer Coordinator and established regular volunteer meetings. Volunteer roles support both Peer Support and activities held at the Mayfield Garden Centre. Over the last year, our volunteers gave around 7,000 hours of volunteering time to support our services and projects. Many of our volunteers are ex-service users and their ability to progress into volunteering is an important next step in their own personal recovery. These volunteers are also supported with broader community and corporate volunteers, and together, they make a huge impact on the volume and diversity of work we can offer. We are proud of our volunteers, and value enormously the support they offer to both our organisation and service users.

Our volunteer policy is an essential part of meeting the Mind Quality Mark and we continue to develop and expand volunteering levels across the organisation to support delivery of services to those in need of mental health support. Our Trustees are all volunteers and provide their time, support and expertise to drive Solent Mind’s strategy and operational delivery.

Objectives and Activities

The Trustees have considered the Charities Commission guidance on Public Benefit and this is at the heart of everything Solent Mind delivers.

The objects of Solent Mind as set out in our Memorandum of Association are:

“To promote the preservation of mental health and to assist in relieving and rehabilitating persons suffering from mental disorders or conditions of emotional or mental distress, requiring advice or treatment principally in Southampton Hampshire, the Channel Islands and bordering areas in association with Mind and in accordance with the aims and objects of Mind”.

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Solent Mind Report of the Trustees for the Year Ended 31st March 2025

Strategic Review (cont.)

Our new Strategy introduces our purpose, “Supporting everyone to develop positive mental wellbeing, live well and thrive”.

Significant Activities

Solent Mind is an established provider of mental health services, and during 2024/25, worked across Hampshire, Southampton and Portsmouth to provide support across the following main groups of services and activities:

Activity Location Main impacts and benefits
Outreach and
Education		 Southampton,
Portsmouth
and Hampshire		 Targeted work with specific under-represented communities, as
well as wider engagement across our communities.
Peer Support Southampton,
Portsmouth
and Hampshire		 'Support with inspiration' provided by people with lived experience
of mental health issues, for people referred by both primary and
secondary mental health teams, as well as self-referral in the
community. Also targeting some specific communities, such as
families of MilitaryServingPersonnel.
Employment
support		 Hampshire and
Portsmouth		 Employment Support to enable people affected by mental illness
retain and / or seek employment.
Talking
Therapies		 Hampshire Low intensity psychological therapies via sub-contract with
Southern Health NHS Foundation Trust.
Wellbeing Southampton,
Portsmouth
and Hampshire		 Support to people with mild to moderate mental illness offering
practical skills & courses, wellbeing groups, and in Southampton,
horticultural therapy. Typically delivered via and focussed around
our network of 7 regional Wellbeingcentres.
Dementia
support		 Portsmouth
and
Southampton		 Supporting people affected by dementia and their carers to manage
their condition and through provision of cognitive activities and 1:1
support,hopefullyslow its decline.
Crisis Services Southampton
and Hampshire		 Face to face, text and telephone support to people feeling they are
in crisis.
Children and
YoungPeople		 Southampton
Hampshire		 Across all our activities we strive to ensure that our services
understand and are accessible to Children and YoungPeople.
Digital skills Southampton,
Portsmouth
and Hampshire		 Supporting people with skills and access to devices needed to
participate fully in the online world and access mental health
support.
Gambling
Support		 Southampton
and Hampshire		 New service being set up to provide support for those impacted by
gambling (transferred back to NHS at end of March 2025).
Supporting
Military
Personnel		 National Supporting the needs of the Royal Navy and Royal Marines
community.

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Solent Mind Report of the Trustees for the Year Ended 31st March 2025

Strategic Review (cont.)

Solent Mind works collaboratively with NHS Trusts, local government bodies, other not-for-profit organisations and grass-roots community groups to ensure we can offer a broad range of mental health support and recovery to people of all ages and backgrounds across our communities.

The Trustees monitor the performance of its services, through the Subcommittees of Board. This includes both qualitative and quantitative evidence as to the impact that each service is making in support of our strategy includes numbers of people supported, waiting lists (if any), service user satisfaction, complaints and any safeguarding concerns. The Board receives a key performance indicator report, service quality information and monthly reports on financial performance and staffing numbers. This provides the Board with an overview of organisational performance allowing the opportunity for detailed questions and review for the important and emerging issues.

In 2024/25, seven complaints were received within Solent Mind and a further thirty-nine complaints received through the Hampshire Talking Therapies service. All were resolved or processed through the Solent Mind's complaints procedure by year end.

Solent Mind welcomes supporters of the charity to become members. Membership of Solent Mind allows the community to get more involved with the charity and to receive periodic information about the charity. Members are not charged a membership fee, they play an important role as ambassadors of the charity and to support our fundraising. Members are invited to attend celebration events.

Solent Mind continues to maintain a strong presence on social media during the year and keep our stakeholders up to date via our Annual Review, Solent Mind and Mayfield Garden Centre websites, and Facebook, Twitter and lnstagram. The Solent Mind website includes regular updates on news and events and is located at - https://www.solentmind.org.uk/news events/

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Report of the Trustees for the Year Ended 31st March 2025

Solent Mind

Strategic Report:

Achievements and Performance 2024/25:

See our Impact Report for 2024/25 to find out more about our stories and successes for the year.

Link to our Reports and accounts | Solent Mind

Following a project working within its whole community Solent Mind developed a new strategy which was formally launched to staff and to our stakeholders on a beautiful summer evening in June 2024 at our Mayfield Garden Centre.

Link to: Our strategy

and News of the Strategy Launch: Our brand-new strategy puts people at the heart of our plans | Solent Mind

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Solent Mind Report of the Trustees for the Year Ended 31st March 2025

Reaching High Reaching Far, Growing Together Our strategy for 24-27

Solent Mind’s Purpose:

“Supporting everyone to develop positive mental wellbeing, live well and thrive”.

Over the next 3 years, we intend to reach high, reach far and grow together. This will focus on 5 themes:

Our communities: We will provide accessible mental health and wellbeing support to anybody who needs it.

Our services: We will deliver services that are inclusive, effective and tailored to meet individual needs.

Our people and culture: We will develop, support and inspire our staff and volunteers to thrive and deliver the goals of our organisation.

Our funding: We will actively seek, secure and manage resources to respond to community needs.

Our organisation: We will be resilient, effective and sustainable

As a result, our ambition is that our “organisational tree” will have deep roots aligned to our values, a stronger trunk able to weather storms, many branches of mental health and wellbeing support, long extending tendrils reaching into our communities, and funding sources that allows us to blossom.

Our communities:

Strategic Goal 1: We will provide accessible mental health and wellbeing support to anybody who needs it.

  1. We will proactively and appropriately reach out, to ensure people of all backgrounds and needs can easily access the right support.

  2. We will place more emphasis on the people and the places with the greatest needs.

  3. We will build trusting relationships with communities, partners and local employers to co-design services, share expertise, remove barriers and encourage access to relevant mental health services.

  4. We will have local venues which offer a sense of belonging, social connectedness and a place of safety.

  5. We will speak up for our communities and service users, challenge inequality and be an active voice for mental health locally, regionally, and also nationally, as part of the Mind Federation.

Our services:

Strategic Goal 2: We will deliver services that are inclusive, effective and tailored to meet individual needs.

  1. We will deliver excellent mental health and wellbeing services through evaluating best practice, measuring our impact and outcomes, and continually improving.

  2. We will offer a person-centred approach, using our lived and shared experiences to co-develop clinical and non-clinical services which offer effective, wrap-around support.

  3. We will communicate widely and accessibly with people to ensure awareness of our services.

  4. We will ensure services are delivered within safe, inclusive and welcoming spaces.

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Report of the Trustees for the Year Ended 31st March 2025

Solent Mind

Our people & Culture:

Strategic goal 3: We will develop, support and inspire our staff and volunteers to thrive and deliver the goals of our organisation.

  1. We will recruit and retain sufficient staff and volunteers to deliver the calibre, diversity and volume of work required.

  2. We will nurture a highly skilled workforce, developing talent through shared learning, effective training and career progression.

  3. We will value our people’s skills, lived experiences and diversity of perspectives to inspire best practice, continually improve and contribute to the development of our organisation.

  4. We will demonstrate best practice in workplace wellbeing to ensure our employees are equipped to thrive in their role.

Our funding:

Strategic Goal 4: We will actively seek, secure and manage resources to respond to community needs.

  1. We will use resources effectively, demonstrating transparency and value for money in all we do.

  2. We will diversify our funding sources, enabling independence and financial sustainability of services.

  3. We will partner with our funders and other organisations, collaborating to share resources and insights to improve our outcomes.

Our organisation:

Strategic Goal 5: Our organisation will be resilient, effective and sustainable.

  1. We will have insightful and effective leadership to enable courageous, timely and informed decisions in line with our purpose.

  2. We will achieve our purpose through long term plans which are financially, environmentally and operationally sustainable.

3. We will use effective systems, processes and information governance to measure and improve our impact.

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Solent Mind Report of the Trustees for the Year Ended 31st March 2025

Risks and Future Challenges

Where 2023/24 was a year where income levelled off following a period of growth, 2024/25 saw a change in the funding landscape. Our funders now operate in a far more constrained financial environment following reductions of government funding in real terms alongside a period of high inflation.

Despite reductions in funding, the demand for mental health support and services continues to grow driven by the cost-of-living crisis, worldwide events, unsettled communities and changing political priorities. Funding more widely available during the COVID19 crisis has been reduced. Solent Mind has invested to improve its systems and to deliver central service efficiencies to ensure funding is focussed on supporting the direct delivery to service users’ needs in new and more efficient ways.

Many of our service delivery contracts have been extended for short periods, these will still be open to re-tender in the near future. There has been a growing trend for NHS to transfer small services back into the NHS. All services are under increased scrutiny to be delivered at a reduced cost either through a reduced level of service or pressure to reduce the funding whilst maintaining the same level of delivery. Wellbeing Services funding by Hampshire County Council were also cut in year with full year impact of those cuts to impact 2025/26. Direct delivery costs such as staffing can be reduced to align with the funding reductions. However, the costs of maintaining the Wellbeing Centres and ensuring these are a welcoming place to service users are now at risk due to the reduced contribution from contract funding based in these locations.

Funding cuts, changes to our main stakeholders and increased competition for reduced funding mean that the new services being tendered are packaged differently from our current contracts. To optimise successful continuation of our services we will need to be flexible and dynamic to secure ongoing funding and to expand into new services. We believe we have built strong relationships with our funders and stakeholders to support our ongoing delivery of services.

We continue to work with our funders to ensure our effective delivery of service integrates with the wider mental health landscape. With our Talking Therapies contract this has included careful workforce planning and the delivery of trained staff with career pathways into related services including the NHS step three services. Our reduced funding for Wellbeing services from Hampshire County Council has led to creative new delivery ideas to ensure continuity of the Wellbeing Services to support the same volume of demand from service users.

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Report of the Trustees for the Year Ended 31st March 2025

Solent Mind

Financial Review

Basis of accounting

The annual financial statements of Solent Mind are attached to this report. The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.

Review of the year

Net Incoming Resources before transfers for the year

The yearly Total Net Incoming Resources show a deficit of £314,975 (23/24 surplus of £128,901). The net income position before the actuarial adjustment for defined benefit schemes is a deficit of £310,200 which compares to a £132,864 surplus for the prior year.

The move to deficit reflects the impact of contracts coming to an end which were funded based on costings calculated before the period of high inflation. With income down for contracts also coming to an end, the contribution to fund central costs has also reduced during a year where Solent Mind was continuing to invest in its central IT infrastructure to provide resilience for the future.

Solent Mind has seen income for Talking Therapies constrained to support working with NHS to deliver their savings targets. The Wellbeing Contract for Hampshire is now in the later years and with inflation the expenditure is now tight within the available income. Changes to Portsmouth and Southampton based services and Peer Support services have led to some requests to reduce or return NHS funding. Donations and legacies have been more challenging in 2024/25. The Mayfield Garden Centre had to close for part of the year to action essential roof repairs, the time was also used to upgrade the kitchen and increase the café space, but income was lost during this period.

During 2024/25, Solent Mind continued to contribute to clear an actuarial loss on its defined benefit schemes with a payment of £3,541. The accounts include a net movement for the pension provision of £4,775 deficit; the latest actuarial valuation identifies further repayments into the fund for the next three-year period to clear the current provision of £8,248.

Incoming Resources for the Year

Gross income for the year has reduced to £11,640,446 compared to £12,380,694 in 2023/24. This is a decrease of £740,198 or 6% (compared to an increase of £1,125,138 or 10%in 2023/24). The principal funding sources are derived from contract and grant income which accounts for £10,883,122 or 94%

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Report of the Trustees for the Year Ended 31st March 2025

Solent Mind

Incoming Resources for the Year (cont.)

(2023/24 = £11,114,512 or 90%) of Solent Mind total income. The majority of funding is through service contracts with NHS and local authorities, which are typically between one and three years. This provides Solent Mind with some financial stability over the medium term and is an important part of strategic planning, decision making and providing financial sustainability. It also presents a risk as income is subject to re-tender and this is discussed elsewhere within the report.

Resources Expended

Resources expended for the year totalled £11,950,696 a decrease of £297,134 or 2.4% on last year (23/24 = £12,247,830). Charitable Activities expenditure accounted for £11,197,120 of the Solent Mind's total resources expended, this is a small decrease in percentage terms at 94% compared to 95% in the prior year. The increase reflects increased investment in systems and IT infrastructure which has been apportioned to the projects. These investments are now largely complete and will start to support future efficiencies and reporting to deliver improved services.

Capital Expenditure

Solent Mind's capital expenditure for the year was £475,281 compared to 23/24 of £17,598. This included a major investment of over £200k in the Mayfield Garden Centre with a new roof for the main sales area and café and an enlarged and modernised kitchen area to support an enlarged seating area. A further investment in new Software implementations was also capitalised including the Customer Relationship Management (CRM) system. Other capital investments included IT equipment and fixtures and fittings for the Wellbeing Centres.

Reserves Policy

Solent Mind is keenly aware of the need to secure its viability beyond the immediate future. To enable the charity to provide reliable services or funding over the longer term, Solent Mind must be able to absorb setbacks and to take advantage of change and opportunity.

The charity provides for this by maintaining adequate levels of reserves. Where the reserves can be linked to a specific purpose, unrestricted reserves are separated into designated funds. It is prudent to set aside reserves to cover future potential liabilities. As far as possible, the aim is to also have adequate levels of free reserves to be able to underwrite and make funds available to take advantage of any opportunities that may come the way of the charity. A working capital reserve is also included to provide cover for payment delays or investment in new projects which are funded in arrears.

Solent Mind's Trustee Board has considered the adequacy of its reserves held on 31st March 2025, in line with its policy to do so on an annual basis following detailed scrutiny and recommendations by its Finance, Information, Risk and Compliance Subcommittee, which itself is guided by the Charity Commission guidance on charity reserves.

The charity needs reserves to enable it to continue as a going concern. The Trustee Board considers the reserves held on the balance sheet to be at an adequate level to meet their responsibilities and commitments, protect and advance its current activities and to enable it to progress its long term aims and objectives as outlined in the Strategic Plan.

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Report of the Trustees for the Year Ended 31st March 2025

Solent Mind

Funds

Total funds as at 31st March 2025 are £4,172,394 (31 March 2024 = £4,487,369) of which £3,428,983 relates to unrestricted funds, £111,267 relates to restricted funds and £632,144 relates to permanent endowment funds.

Unrestricted funds held by Solent Mind total £3,428,983 of which £1,453,931 is Fixed Asset Reserve, £415,954 in the revaluation reserve, £697,823 is held in designated funds for specific purpose, and a further £556,095 is for General Infrastructure to ensure sufficient working capital is in place to support late payments and contracts funded in arrears.

Restricted funds total £111,267 (2023/24 = £ 152,338) has reduced in year following investment in the Wellbeing Centres as part of the strategy. Funds have been drawn from the restricted reserves where the expenditure made in year in line with the restricted criteria. The Property Maintenance Reserve is £47,734 and relates to a cash donation from MJB Charitable Trust to be used specifically for major repairs and improvements on the properties transferred. £11,076 is the balance held in the Marcella House Legacy Reserve to be used specifically for the Marcella House Project, £30,084 relates to the balance of funds from the merger with Fareham and Gosport Mind and is to be used in the Fareham and Gosport area only. £22,373 is held for other restricted funded projects in relation to the Wellbeing Centres including Mayfield Nurseries.

Permanent Endowment funds are unchanged at £632,144 and this relates donations from the MJB Charitable Trust and includes three properties that were transferred. Note 22 to the financial statements provides more detail of all the reserves held by Solent Mind and the movements within the year for these reserves.

As noted in the prior year accounts, the period of income growth has now ended and Solent Mind is facing the challenge, like many in the charitable sector, of adapting to reduced income alongside rising costs. The accounts continue to show a turnover of close to £12m and a strong contribution to support centrally funded services. This is the first year in many that has shown a deficit position. The deficit is backed up by funds set aside as designated reserves in earlier years and from release of restricted funds for investment in the service user experience in year. However, mitigating actions are in place to ensure that the use of reserves is limited and that the future budgets build in plans to replenish reserves to support future plans. Solent Mind continues to work pro-actively with our funders and creatively to maximise the benefits to our service users. Solent Mind utilises its staff and lived experience networks and NHS colleagues to identify opportunities to improve services and share best practice.

The new strategy launched in June 2024 sets out our aims to deliver our new purpose. Investments in a new CRM system and improvements to our IT infrastructure, new approaches to volunteer coordination and new approaches to support service users are all now having an impact. We continue to benefit from our donor community including funding and gifts in kind and thank our incredibly supportive network of corporate supporters.

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Solent Mind Report of the Trustees for the Year Ended 31st March 2025

Investment Policy

The Finance, Information, Risk and Compliance Subcommittee does not consider it prudent at this stage to invest income for the longer term. Its policy for investment is to retain funds as cash and place them on bank deposit at the best rate obtainable. The Treasury Management policy sets out the board's approach.

Going Concern

The accounts for 2024/25 have continued to show the strong and continued relationships with partner institutions across the Hampshire region. The success of these partnerships is evidenced in the impact that Solent Mind is having on so many lives across our portfolio of services. The accounts demonstrate the ongoing funding relationships for the activities of Solent Mind. The risks relating to future funding of contracts being subject to regular tenders with NHS Trusts and local government bodies are understood. As discussed in the earlier section on Risks and future challenges, existing services are expected to be retendered in this upcoming period. Additional resource has been identified to support the tender process and to consider the potential outcomes scenarios and risk mitigations which may be necessary for a range of funding outcomes.

The Trustees believe that Solent Mind can demonstrate its Going Concern status based on the portfolio of ongoing activities and contracts in place and the existing reserves held in the balance sheet backed up by assets including cash funds held in the bank. The ongoing strategy includes ambitious plans to continue to support the mental health and wellbeing of the Hampshire region as well as actions in place to monitor and control costs to align these with the levels of income generated each year. With continued inflationary pressure on expenditure, Solent Mind is working through a cost improvement plan. Improvements made to IT systems including Finance, HR and CRM systems will drive future efficiencies. The budget for 2025/26 shows that the financial position will require tight monitoring to be able to deliver a surplus and the budget for 2026/27 includes the impact of efficiencies that are being made to ensure balanced finances.

Fundraising Standards Information

Solent Mind is keen to ensure all its fundraising activities align with relevant fundraising guidance and regulations including the Charities Commission and the Fundraising Regulator. There is no use of professional fundraisers and no current commercial participators to support our fundraising. The independent Board of Trustees provide support and guidance to ensure our fundraising activities meet the required standards. There have been no incidences in the year where our fundraising has not complied with these requirements and there have been no complaints in relation to fundraising. As a charity committed to supporting mental health our services aim to support and protect vulnerable people and as such there is no active fundraising targeting vulnerable people. There are no telemarketing campaigns nor actions that could intrude on any individual’s privacy and we do not employ any persistent approaches to fundraising or place pressures to donate.

Disabled Employees

Solent Mind is committed to being a fair employer and takes full and fair consideration of the needs of disabled persons. This is considered from the application process which considered aptitudes and abilities through to the employment of disabled persons. Any staff becoming disabled are supported and their needs responded to in supporting continued employment. Solent Mind is also committed to the training, career development and promotion of our disabled staff.

15

Report of the Trustees for the Year Ended 31st March 2025

Solent Mind

Information provided to Auditors

All of the current Directors have taken all the necessary steps that they ought to, in order to make themselves aware of any relevant information (as defined by Section 418 of the Companies Act 2006) needed by the charitable company's auditors for the purposes of their audit. The Directors are not aware of any relevant audit information of which the auditors are unaware.

16

Report of the Trustees for the Year Ended 31st March 2025

Solent Mind

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Solent Mind for the purposes of company law) are responsible for preparing the Report of the Trustees 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to 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 taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

AUDITORS

The auditors, Lewis Brownlee (Chichester) Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the Board of Trustees on 1[st] October 2025 and signed on its behalf by:

Claire Lowe - Chair

17

Report of the Independent Auditors to the Members of Solent Mind

Opinion

We have audited the financial statements of Solent Mind (the ‘charitable company’) for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement 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).

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

18

Report of the Independent Auditors to the Members of Solent Mind

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees Responsibilities set out on page 17, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these group financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

19

Report of the Independent Auditors to the Members of Solent Mind

Use of our report

This report is made solely to the charitable 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 state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Sarah Alexander FCCA FCA (Senior Statutory Auditor) For and on behalf of Lewis Brownlee (Chichester) Limited Chartered Accountants Statutory Auditors Appledram Barns Birdham Road Chichester West Sussex PO20 7EQ

Date: 26 November 2025

20

Solent Mind Statement of Financial Activities (incorporating an income & expenditure account) for the Year Ended 31st March 2025

Notes
INCOME AND ENDOWMENTS
FROM
Donations and legacies
3
Charitable activities
5
Talking Therapies
Southampton & Wellbeing
Portsmouth
Hampshire
Room Hire, Training & Consultancy
Other charitable activities
Other trading activities
4
Investment income
5
Total
EXPENDITURE ON
Raising donations and legacies
7
Charitable activities
9
Talking Therapies
Southampton & Wellbeing
Portsmouth
Hampshire
Room Hire, Training & Consultancy
Other charitable activities
Trading activities
8
Total
NET INCOME
Actuarial gains/(losses) on
defined benefit schemes
NET MOVEMENT IN FUNDS		 Unrestricted
funds

£
327,399
5,215,112
1,405,150
1,335,778
2,824,803
74,200
28,078
292,091
57,724
11,560,335
247,173
5,069,662
1,482,409
1,380,160
2,754,382
78,270
311,005
506,403
11,829,464
(269,129)
(4,775)
(273,904)		 Restricted
funds
£
80,161
-
-
-
-
-
-
-
-
80,161
-
-
20,313
3,777
16,981
-
80,161
-
121,232
(41,071)
-
(41,071)		 Endowment
funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 2025
Total
funds
£
407,560
5,215,112
1,405,150
1,335,778
2,824,803
74,200
28,078
292,091
57,724
11,640,496
247,173
5,069,662
1,502,722
1,383,937
2,771,363
78,270
391,166
506,403
11,950,696
(310,200)
(4,775)
(314,975)		 2024
Total
funds
£
650,387
5,185,261
1,201,587
1,423,156
2,736,753
108,452
459,301
541,778
74,017
12,380,694
241,665
5,394,960
1,502,776
1,723,467
2,452,368
383,103
134,471
415,020
12,247,830
132,864
(3,963)
128,901

21

Solent Mind

Statement of Financial Activities incorporating an income & expenditure account - continued for the Year Ended 31st March 2025

Notes
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED
FORWARD21		 Unrestricted
funds

£
3,702,887
3,428,983		 Restricted
funds
£
152,338
111,267		 Endowment
funds
£
632,144
632,144		 Total
funds
£
4,487,369
4,172,394		 Prior Year
Total
funds
£
3,345,497
4,487,369

CONTINUING OPERATIONS

All income and expenditure has arisen from continuing activities.

22

Solent Mind

Balance Sheet 31st March 2025

2025 2024
Unrestricted Restricted Endowment Total Total
funds funds funds funds funds funds funds
Notes £ £ £ £ £
FIXED ASSETS
Tangible assets 14 1,700,898 - 632,144 2,333,042 2,004,999
CURRENT ASSETS
Stock 15 51,318 - - 51,318 66,410
Debtors 16 818,332 - - 818,332 1,700,172
Cash at bank 1,478,034 111,267 - 1,589,301 1,844,794
2,347,684 111,267 - 2,458,951 3,611,376
CREDITORS
Creditors
17		 17 (611,351) - - (611,351) (1,125,533)
NET CURRENT ASSETS 1,736,333 111,267 - 1,847,600 2,485,843
TOTAL ASSETS LESS CURRENT
LIABILITIES 3,437,231 111,267 632,144 4,180,642 4,490,842
CREDITORS
Amounts falling due after more
than one year 18 (8,248) - - (8,248) (3,473)
NET ASSETS 3,428,983 111,267 632,144 4,172,394 4,487,369
FUNDS 22
Unrestricted funds:
General fund including fixed asset reserve General fund including fixed asset reserve 1,755,111 2,280,138
Designated funds 701,823 661,823
Working Capital reserve 556,095 344,972
Revaluation reserve 415,954 415,954
3,428,983 3,702,887
Restricted funds 111,267 152,338
Endowment funds 632,144 632,144
TOTAL FUNDS 4,172,394 4,487,369

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

The financial statements were approved by the Board of Trustees and authorised for issue on 1[st] October 2025 and were signed on its behalf by:

............................................. ............................................. Claire Lowe – Chair John Carter - Treasurer

23

Solent Mind

Cash Flow Statement for the Year Ended 31st March 2025

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Sale of tangible fixed assets
Interest received
Net cash used in investing activities
Change in cash and cash equivalents in the
reporting period
Cash and cash equivalents at the beginning
of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2025
£
156,470
156,470
(473,643)
3,958
57,724
(411,961)
(255,492)
1,844,793
1,589,301		 2024
£
(1,186,602)
(1,186,602)
(112,598)
26,024
74,017
(12,557)
(1,199,159)
3,043,952
1,844,794

24

Solent Mind

Notes to the Cash Flow Statement for the Year Ended 31st March 2025

1.
RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
2025
£
Net income for the reporting period (as per the Statement of Financial
Activities)
(319,750)
Adjustments for:
Depreciation charges
147,235
Movement in Pension Deficit
(4,775)
Interest received
(57,724)
(Gain)/loss on disposals
-
Increase)/Decrease in debtors
881,841
(Increase)/Decrease in stocks
15,092
Increase/(Decrease) in creditors
(509,407)
Net cash provided by operations
156,470
2.
ANALYSIS OF CHANGES IN NET FUNDS
At 1.4.24
Cash flow
£
£
Net cash
Cash at bank
1,844,794
(255,493)
Total
1,844,794
(255,493)		 2024
£
132,864
160,691
(3,963)
(74,017)
-
(941,379)
(745)
(460,053)
(1,186,602)
At 31.3.25
£
1,589,301
1,589,301

25

Solent Mind Notes to the Financial Statements for the Year Ended 31st March 2025

ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

Depreciation and useful economic life of properties - this requires an estimation of the useful economic lives of properties (which are based on surveyors' reports when available) and an estimate of land apportionment at each site.

The charity makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the charity, can be reliably measured.

Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Volunteer services

The value of services rendered by volunteers is not incorporated in these financial statements. The number of hours is given elsewhere in this document. It is recognised that the intangible value of Solent Mind volunteers far outstrips any financial worth that may be attributed to their service.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

26

Notes to the Financial Statements - continued for the Year Ended 31st March 2025

Solent Mind

ACCOUNTING POLICIES – continued

Expenditure - continued

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 direct staff cost at each project.

Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the company and include project management carried out at Headquarters.

Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - no depreciation is charged
Long leasehold - in accordance with the lease
IT equipment - 25% on cost
Motor vehicles - 25% on cost
Capitalised Software - 10 to 20% on cost
Fixtures and fittings - 20% on cost
Office equipment - 20% on cost
Building adaptations - 10% on cost

The freehold and leasehold property is stated at market value on the basis of the valuations obtained at least every five years.

Capital items purchased with a value below £1000 including IT Equipment are not capitalised.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes.

27

Notes to the Financial Statements - continued for the Year Ended 31st March 2025

Solent Mind

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Investments

Asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as 'Gains/(Losses) on investments' in the Statement of Financial Activities.

Stock

The closing stock represents plant and cafe stock held at Mayfield Nurseries. Its value is deemed to be net selling price less mark up.

Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risk specific to the liability. The unwinding discount is recognised in the Statement of Financial Activities as a finance cost.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

28

Solent Mind

Notes to the Financial Statements - continued for the Year Ended 31st March 2025

3.
DONATIONS AND LEGACIES
Donations
Fundraising events
4.
OTHER TRADING ACTIVITIES
Lease/room hire income
Consultancy and training
Plant and café sales
Members income
5.
INVESTMENT INCOME
Deposit account interest
6.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Contracts
Talking Therapies
Contracts & Grants
Southampton
Contracts & Grants
Portsmouth
Contracts & Grants
Hampshire
Contracts & Grants
Room hire, training and consultancy
Grants
Other charitable activities		 2025
2024
£
£
254,074
496,289
153,486
154,098
407,560
650,387
2025
2024
£
£
823
16,877
1,955
98,387
282,031
426,514
7,282
-
292,091
541,778
2025
2024
£
£
57,724
74,017
2025
2024
£
£
5,215,112
5,185,262
1,405,150
2,743,794
1,335,778
1,423,156
2,824,803
1,194,547
74,200
108,452
28,078
459,301
10,883,121
11,114,512

29

Solent Mind

Notes to the Financial Statements - continued for the Year Ended 31st March 2025

6. INCOME FROM CHARITABLE ACTIVITIES - continued

Southampton City Council
Contract
Hampshire County Council
Contract
Hampshire and IOW Healthcare NHS Foundation Trust
Contract
NHS Hampshire and IOW Integrated Care Board
Contract
Southern Health NHS Foundation Trust
Contract
Portsmouth City Council
Contract
Department for Work and Pensions
Contract
Individual Service Contracts
Contract
University of Southampton
Contract
Solent NHS Trust
Contract
Hampshire Mind CIC
Contract
Coastal Primary Care Network
Contract
Andover Mind
Contract
Royal Navy and Royal Marines Charity
Grant
Other Contracts
Contract
South Western Railway
Grant
The National Lottery Community Fund
Grant
Southampton City Council SS
Grant
MJB
Grant
Community Fund
Grant
Dibden Allotment Fund
Grant
Richard C
Grant
Other Grants
Grant
7.
RAISING DONATIONS AND LEGACIES
Staff costs
Governance costs
Support costs
Other direct costs		 2025
£
110,240
31,212
6,790,125
415,822
-
1,000
453,100
-
7,531
-
2,399,186
24,643
5,439
70,871
261,145
44,063
20,000
-
78,000
-
-
18,174
152,570
10,883,121
2025
£
191,918
-
25,498
29,757
247,173		 2024
£
94,054
-
6,143,905
200,857
301,006
7,040
9,684
1,236,858
2,485,218
35,000
15,703
55,442
99,368
-
-
22,642
40,000
347,823
14,808
6,103
-		 2024
£
94,054
-
6,143,905
200,857
301,006
7,040
9,684
1,236,858
2,485,218
35,000
15,703
55,442
99,368
-
-
22,642
40,000
347,823
14,808
6,103
-

11,114,512
2024
£
153,037
2,533
49,746
36,349
241,665

30

Solent Mind Notes to the Financial Statements - continued for the Year Ended 31st March 2025

8. TRADING ACTIVITIES

TRADING ACTIVITIES
Staff costs
Other direct costs
Support costs		 2025
£
232,850
156,079
117,474
506,403		 2024
£
128,421
243,911
42,688
415,020

9. CHARITABLE ACTIVITIES COSTS

Talking Therapies and Employment
Southampton and Wellbeing
Portsmouth
Hampshire
Room Hire, Training and Consultancy
Other Charitable Activities		 Direct
Costs
£
4,225,020
1,252,358
1,153,363
2,309,634
65,230
325,995
9,331,560		 Support
costs (see
note 10)
£
844,642
250,364
230,574
461,729
13,040
65,171
1,865,520		 Totals
£
5,069,662
1,502,722
1,383,937
2,771,363
78,270
391,166
11,197,120

2024 Comparative Charitable Activities

2024 Comparative Charitable Activities
Talking Therapies and Employment
Wellbeing
Other charitable activities
Portsmouth
Impact and Inclusion
Peer Support
Therapy & Training		 Direct
Costs
£
4,228,146
1,915,167
105,015
1,345,935
183,322
990,266
299,183
9,067,033		 Support
costs (see
note 10)
£
1,185,986
537,200
29,456
377,532
51,421
277,768
83,920
2,543,284		 Totals
£
5,414,133
2,452,368
134,471
1,723,467
234,743
1,268,033
383,103
11,610,317

31

Solent Mind Notes to the Financial Statements - continued for the Year Ended 31st March 2025

10. SUPPORT COSTS

Talking Therapies and Employment
Southampton and Wellbeing
Portsmouth
Hampshire
Room Hire, Training and Consultancy
Other Charitable Activities
Talking Therapies and Employment
Southampton and Wellbeing
Portsmouth
Hampshire
Room Hire, Training and Consultancy
Other Charitable Activities
2024 Comparative Support Costs
Talking Therapies and Employment
Wellbeing
Other charitable activities
Portsmouth
Impact and Inclusion
Peer Support
Therapy & Training
Talking Therapies and Employment
Wellbeing
Other charitable activities
Portsmouth
Impact and Inclusion
Peer Support
Therapy & Training		 Management
£
287,215
85,135
78,404
157,008
4,435
22,161
634,358
Human
resources
£
270,467
80,170
73,833
147,853
4,176
20,869
597,368
Management
£
290,901
131,766
7,225
92,602
12,613
68,131
20,584
623,822
Human
resources
£
252,732
114,477
6,277
80,452
10,958
59,192
17,883
541,971		 Finance
£
152,276
45,137
41,569
83,242
2,351
11,749
336,324
Governance
costs
£
8,657
2,566
2,363
4,732
134
668
19,120
Finance
£
290,234
131,463
7,209
92,389
12,584
67,975
20,537
622,391
Governance
costs
£
13,977
6,331
347
4,449
606
3,274
989
29,973		 Information
technology
£
126,027
37,356
34,403
68,894
1,946
9,724
278,351
Totals
£
844,642
250,364
230,573
461,729
13,041
65,171
1,865,520
Information
technology
£
338,142
153,164
8,398
107,640
14,661
79,196
23,927
725,127
Totals
£
1,185,986
537,200
29,456
377,532
51,421
277,768
83,920
2,543,284

32

Solent Mind Notes to the Financial Statements - continued for the Year Ended 31st March 2025

11. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2025 2024
£ £
Auditors’ remuneration 27,760 20,000
Auditors’ remuneration – non audit services - 5,550
Depreciation - owned assets 143,475 160,691
Other operating leases 38,896 57,499
TRUSTEES' REMUNERATION AND BENEFITS
2025 2024
£ £
Trustees’ expenses 23 -

12. TRUSTEES' REMUNERATION AND BENEFITS

Solent Mind – There was a single claim for expenses for £23 for a single Trustee paid during the year (2024: no expenses to Trustees). Trustee indemnity insurance cover of £1 million is provided for at a cost of £40 per annum.

There were no trustees' remuneration or other benefits for the year ended 31st March 2025 nor for the year ended 31st March 2024.

13. STAFF COSTS

STAFF COSTS
2025 2024
£ £
Wages and salaries 8,439,250 8,425,955
Social security costs 728,841 689,092
Other pension costs 256,049 248,281
9,424,140 9,363,32
The average monthly number of employees during the year was as follows: 2025 2024
Charitable activities 356 351
Governance and support 9 13
365 364

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

was:
2025 2024
£60,001 - £70,000 2 1
£70,001 - £80,000 2 -
£80,001 - £90,000 1 -
£100,001 - £110,000 1 1

Employer contributions for the year for the provision of a defined contribution scheme for the employees with emoluments above £60,000 was £15,296 (2024: £4,451).

Total trustee and key management personnel remuneration and benefits was £433,397 (2024: £422,240).

33

Solent Mind

Notes to the Financial Statements - continued for the Year Ended 31st March 2025

14. INTANGIBLE FIXED ASSETS

COST
At 1st April 2024
Additions
Disposals
At 31st March 2025
DEPRECIATION
At 1st April 2024
Charge for year
Eliminated on disposal
At 31st March 2025
NET BOOK VALUE
At 31st March 2025
At 31st March 2024		 Purchased / Developed Software
£
284,531
200,815
(3,958)
481,388
179,564
38,037
-
217,601
263,787
104,967

14. TANGIBLE FIXED ASSETS

COST
At 1st April 2024
Revaluations
Additions
Disposals
At 31st March 2025
DEPRECIATION
At 1st April 2024
Charge for year
Eliminated on disposal
At 31st March 2025
NET BOOK VALUE
At 31st March 2025
At 31st March 2024		 Freehold
property
£
1,390,000
-
-
-
1,390,000
-
-
-
-
1,390,000
1,390,000		 Long
leasehold
£
300,000
-
-
-
300,000
-
3,592
-
3,592
296,408
300,000		 Plant and
machinery
£
1,173,916
-
274,466
(749,650)
698,732
965,487
100,048
(749,650)
315,885
382,847
208,429		 Motor
vehicles
£
9,970
-
-
-
9,970
8,367
1,603
-
9,970
-
1,603		 Totals
£
2,873,886
-
274,466
(749,650)
2,398,702
974,854
105,243
(749,650)
329,447
2,069,255
1,900,033

34

Solent Mind

Notes to the Financial Statements - continued for the Year Ended 31st March 2025

14. TANGIBLE FIXED ASSETS – continued

On a historical cost basis, the Freehold Property would be shown as:

Historical cost
Depreciation
Freehold Property historical cost NBV
On a historical cost basis, the Leasehold Property would be shown as:
Historical cost
Depreciation
Leasehold Property historical cost NBV		 £
921,500
(249,301)
672,199
£
290,000
(48,868)
241,132

The freehold and leasehold properties were revalued on an open market basis in March /April 2024 by Ely Langley Greig Chartered Surveyors.

15. STOCK


2025
£
Goods for resale
51,318
16.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025
£
Contracts and grant fees
600,821
Amounts owed by related undertakings
-
VAT
11,859
Other debtors
Prepayments
Accrued income
100,674
68,978
36,000
818,332		 2024
£
66,410
2024
£
1,315,220
57,748
-
160,089
79,615
87,500
1,700,172

35

Solent Mind Notes to the Financial Statements - continued for the Year Ended 31st March 2025

17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Social security and other taxes
VAT
Other creditors
Pension fund
Accruals
Deferred income (see note 19)		 2025
£
123,960
162,978
-
3,522
75,098
227,668
18,125
611,351		 2024
£
269,507
126,356
3,053
-
53,463
54,394
618,760
1,125,533

18. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Pension scheme liability
2025
2024
£
£
8,248
3,473

36

Solent Mind Notes to the Financial Statements - continued for the Year Ended 31st March 2025

19. DEFERRED INCOME


Contract and Grants
Total Deferred Income
Balance
Analysis of deferred income
Under one year
Total Deferred Income		 Balance
at 1.4.24
£
618,760
618,760
618,760
618,760		 Deferred
£
18,125
18,125
18,125
18,125		 Released
£
(618,760)
(618,760)
(618,760)
(618,760)		 Balance
at 31.3.25
£
18,125
18,125
18,125
18,125

37

Solent Mind Notes to the Financial Statements - continued for the Year Ended 31st March 2025

20. OPERATING LEASE COMMITMENTS

The following operating lease payments are committed to be paid:

Land and buildings
Expiring:
Within one year
Between one and five years		 2025
£
39,000
83,075
122,075		 2024
£
39,000
122,075
161,075

21. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Fixed assets
Current assets
Current liabilities
Pension liability		 2025
2024
£
£
Unrestricted
Restricted
Endowment
Total
Total
Funds
Funds
Funds
Funds
Funds
£
£
£
£
£
1,700,898
-
632,144
2,333,042
2,004,998
2,347,685
111,267
-
2,458,952
3,611,376
(611,351)
-
-
(611,351)
(1,125,533)
(8,248)
-
-
(8,248)
(3,473)
3,428,983
111,267
632,144
4,172,394
4,487,369

38

Solent Mind Notes to the Financial Statements - continued for the Year Ended 31st March 2025

22. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Designated reserves
General infrastructure reserve
Revaluation reserve
Restricted funds
Property maintenance reserve
Marcella House legacy reserve
Fareham and Gosport reserve
Wellbeing Centres
Endowment funds
Freehold property reserve
Leasehold property reserve
Net movement in funds, included in the above a
Unrestricted funds
General fund
Revaluation Reserves

Restricted funds
Property maintenance reserve
Marcella House legacy reserve
Fareham and Gosport reserve
Wellbeing reserve
Endowment funds
Freehold property reserve
Leasehold property reserve
TOTAL FUNDS
TOTAL FUNDS		 Unrestricted funds
General fund
Designated reserves
General infrastructure reserve
Revaluation reserve
Restricted funds
Property maintenance reserve
Marcella House legacy reserve
Fareham and Gosport reserve
Wellbeing Centres
Endowment funds
Freehold property reserve
Leasehold property reserve
Net movement in funds, included in the above a
Unrestricted funds
General fund
Revaluation Reserves

Restricted funds
Property maintenance reserve
Marcella House legacy reserve
Fareham and Gosport reserve
Wellbeing reserve
Endowment funds
Freehold property reserve
Leasehold property reserve
TOTAL FUNDS
TOTAL FUNDS		 At 1.4.24
£
2,280,138
661,823
344,972
415,954
3,702,887
49,043
26,748
33,861
42,686
152,338
300,000
332,144
632,144
re as follows:
Incoming
resources
£
11,540,335
-
11,540,335
-
-
-
80,161
-
-
-
11,640,496
4,387,369


39

Solent Mind Notes to the Financial Statements - continued for the Year Ended 31st March 2025

22. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
Designated reserves
General infrastructure reserve
Revaluation reserve
Restricted funds
Property maintenance reserve
Marcella House legacy reserve
Fareham and Gosport reserve
Children and Young Persons
Peer Support
Wellbeing
Other charitable activities
Mayfield Nurseries reserve
Endowment funds
Freehold property reserve
Leasehold property reserve
Net movement in funds, included in the above a
Unrestricted funds
General fund
Revaluation Reserves

Restricted funds
Children and Young Persons
Peer Support
Other charitable activities
Endowment funds
Leasehold property reserve
TOTAL FUNDS
TOTAL FUNDS
 Unrestricted funds
General fund
Designated reserves
General infrastructure reserve
Revaluation reserve
Restricted funds
Property maintenance reserve
Marcella House legacy reserve
Fareham and Gosport reserve
Children and Young Persons
Peer Support
Wellbeing
Other charitable activities
Mayfield Nurseries reserve
Endowment funds
Freehold property reserve
Leasehold property reserve
Net movement in funds, included in the above a
Unrestricted funds
General fund
Revaluation Reserves

Restricted funds
Children and Young Persons
Peer Support
Other charitable activities
Endowment funds
Leasehold property reserve
TOTAL FUNDS
TOTAL FUNDS
 At 1.4.23
£
1,369,660
1,393,372
344,972
320,954
3,428,958
49,043
26,748
33,861
30,882
4,707
34,720
11,343
50,028
241,332
300,000
335,626
635,626
re as follows:
Incoming
resources
£
12,380,694
-
12,380,694
-
-
-
-
12,380,694
4,305,916		 Net
movement

in funds
£
128,901
-
-
95,000
223,901
-
-
-
(22,916)
(4,707)
-
(11,343)
-
(38,966)
-
(3,482)
(3,482)


Resources

expended
£
(12,247,830)
-
(12,247,830)
(22,916)
(4,707)
(11,343)
(38,966)
(3,482)
(12,290,278)

181,453		 Transfers
between
funds
£
781,577
(731,549)
-
-
50,028
-
-
-
(7,966)
-
7,966
(50,028)
(50,028)
-
-
-
Gains and
losses
£
(3,963)
95,000
91,037
-
-
-
-
91,037
-		 At
31.3.24
£
2,280,138
661,823
344,972
415,954
3,702,887
49,043
26,748
33,861
-
-
42,686
-
-
152,338
300,000
332,144
632,144
Movement
in funds
£
167,867
95,000
223,901
(22,916)
(4,707)
(11,343)
(38,966)
(3,482)
181,453
4,487,369

40

Solent Mind Notes to the Financial Statements - continued for the Year Ended 31st March 2025

22. MOVEMENT IN FUNDS – continued

Unrestricted reserves

General Reserve - funds that represent the net value of all unrestricted assets held by the charity. Designated reserves - represent funds set aside to support charity developments and to manage future uncertainties and potential liabilities.

General infrastructure reserve - funds set aside to cover losses in central income used to support Solent Mind's infrastructure.

Revaluation reserve reflects the change in value of buildings based on the most recent professional valuation.

Restricted reserves

Property maintenance reserve – balance of £47,734 after investments made in year. Specifically for major capital repairs and improvements of Solent Mind's Endowment Freehold and Leasehold Property in relation to the MJB Charitable Trust property donations.

Marcella House legacy reserve – balance of £11,076 after investments of £15,672 made in year. Original cash received in 2008-09 from a legacy to be used specifically in the Marcella House project.

Fareham and Gosport reserve - funds transferred on merger with Mind Fareham and Gosport: Balance of £30,084 after investment in the Gosport Wellbeing Centre in year.

Wellbeing Centres have a historic reserve balance of £22,373 after investments across Wellbeing Centres in year.

Permanent Endowment funds

Freehold property reserve - £300,000 in relation to "The Hollies", a freehold property donated by MJB Charitable Trust. Current valuation at March 2024 is £400,000.

Leasehold property reserve - £203,972 (March 2024 valuation is £200,000) in relation to "Marcella House", a leasehold property and £131,654 (March 2024 valuation is £100,000) in relation to "Abbey Close", another leasehold property donated by MJB Charitable Trust.

Restrictions and conditions

Solent Mind undertakes to continue to use Marcella House and The Hollies as mental health centres except with the express consent in writing of the Transferor or their successors as trustees of the MJB Charitable Trust, such consent not to be unreasonably withheld.

In the unlikely event of the sale of the property 10 Abbey Close, any proceeds of sale shall be used for such purposes as the Transferors or their successors as trustees of the MJB Charitable Trust may agree in writing, such agreement may not to be unreasonably withheld.

Planned use of Designated Funds

The Trustees of Solent Mind have approved a list of actions to be funded from a strategic development fund of £100k to be spent during 2024/25. This was a strategic decision to make short term investments to improve our services or facilities and by spending from reserves this was a conscious decision to reduce the expected outturn from the Statement of Financial Activities.

Designated funding is also held in the “Wellbeing contract reserve” to support the increased costs for inflation of this large project which was costed to produce surpluses in years 1 and 2, breakeven in year 3 (2024/25) and make deficits in any extended years. This known contract deficit is built into the budget for 2025/26 and can be offset against this designated reserve if required.

The IT reserve is to ensure sufficient funding is set aside to invest in IT infrastructure.

23. PENSION COMMITMENTS

Solent Mind operates a defined contribution pension scheme. The assets of the scheme are held separately from those of Solent Mind in a fund independently administered by the Pensions Trust. The total contributions in the year were £256,288 and £62,046 was outstanding at the year end.

41

Solent Mind

Notes to the Financial Statements - continued for the Year Ended 31st March 2025

23. PENSION COMMITMENTS – continued

SCHEME: TPT Retirement Solutions - The Growth Plan

The company participates in the scheme, a multi-employer scheme 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 to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore, it accounts for the scheme as a defined contribution scheme.

The scheme is subject to the 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 Actuarial Standards issued by the Financial Reporting Council, set out the framework for funding defined benefit occupational pension schemes in the UK.

The scheme is classified as a 'last-man standing arrangement'. Therefore, the company is potentially liable for other participating employers' obligations if those employers are unable to meet their share of the scheme deficit following withdrawal from the scheme. Participating employers are legally required to meet their share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme.

A full actuarial valuation for the scheme was carried out at 30 September 2023. This valuation showed assets of £514.9m, liabilities of £531.0m and a deficit of £16.1m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme as follows:

Deficit contributions

From 1 April 2025 to 31 March 2028: £2,100,000 per annum (payable monthly)

Unless a concession has been agreed with the Trustee the term to 31 March 2028 applies.

Note that the scheme’s previous valuation was carried out with an effective date of 30 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 asked the participating employers to pay additional contributions to the scheme as follows:

Deficit contributions

From 1 April 2022 to 31 January 2025: £3,312,000 per annum (payable monthly)

The recovery plan contributions are allocated to each participating employer in line with their estimated share of the Series 1 and Series 2 scheme liabilities.

Where the scheme is in deficit and where the company has agreed to a deficit funding arrangement the company recognises a liability for this obligation. The amount recognised is the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The present value is calculated using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a finance cost.

42

Solent Mind

Notes to the Financial Statements - continued for the Year Ended 31st March 2025

23. PENSION COMMITMENTS – continued

PRESENT VALUE OF PROVISION

Present value of provision
RECONCILIATION OF OPENING AND CLOSING PROVISIONS
Provision at start of period
Unwinding of the discount factor (interest expense)
Deficit contribution paid
Remeasurements - impact of any change in assumptions
Remeasurements - amendments to the contribution schedule
Provision at the end of period
INCOME AND EXPENDITURE IMPACT
Interest expense
Remeasurements - impact of any change in assumptions
Remeasurements - amendments to the contribution schedule
ASSUMPTIONS
Rate of discount		 31 March
2025
31 March
2024
£
£
8,248
3,473
Period ending Period ending
31 March
2025
31 March
2024
£
£
3,473
7,436
92
283
(3,541)
(4,249)
52
3
8,172
-
8,248
3,473
Period ending Period ending
31 March
2025
31 March
2024
£
£
92
283
52
3
8,172
-
31 March 2025 31 March 2024
% per annum
% per annum
4.84
5.31

The discount rates shown above are the equivalent single discount rates which, when used to discount the future recovery plan contributions due, would give the same results as using a full AA corporate bond yield curve to discount the same recovery plan contributions.

24. CONTINGENT LIABILITIES

As at 31 March 2025 Solent Mind has no contingent liabilities (None at 31 March 2024).

43

Solent Mind

Notes to the Financial Statements - continued for the Year Ended 31st March 2025

RELATED PARTY DISCLOSURES

25.

Throughout the period Solent Mind was controlled ultimately by its Board of Trustees.

On 1st April 2012 the finance and IT and related functions of Solent Mind and Mayfield Nurseries were transferred to Solent Support Solutions Limited a company which is jointly controlled by Solent Mind and Rose Road Association. This arrangement came to an end with the remaining services transferring to Solent Mind as at 31 December 2023. At 31 March 2025 Solent Support Solutions owed Solent Mind no funds (2024 = £57,748) and Solent Mind did not owe Solent Support Solutions any debt (2024 = £0).

On 18th July 2017, Solent Mind participated in creating a joint venture Community Interest Company, named Hampshire Mind CIC, with Havant Mind and Andover Mind and share equal control. Hampshire Mind CIC owed Solent Mind £177,689 (2024 = £911,923) at 31.3.25 and Solent Mind owed Hampshire Mind CIC no funds (2024 = £90) at 31.03.24. Invoicing was late in 2023/24 due to the new system go live for both Solent Mind and Hampshire Mind.

44