COMPANY REGISTRATION NUMBER: 05238037
CHARITY REGISTRATION NUMBER: 1107182
Mind Aberystwyth
Company Limited by Guarantee Unaudited Financial Statements 31 March 2023
PJE ACCOUNTANTS & ADVISORS
23 College Street Lampeter SA48 7DY
Mind Aberystwyth
Company Limited by Guarantee
Financial Statements
Year ended 31 March 2023
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 9 |
| Statement of financial activities (including income and | |
| expenditure account) | 11 |
| Statement of financial position | 12 |
| Statement of cash flows | 13 |
| Notes to the financial statements | 14 |
Mind Aberystwyth
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 March 2023
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2023.
Reference and administrative details
Registered charity name Mind Aberystwyth Charity registration number 1107182 Company registration number 05238037 Principal office and registered C/O The Old Convent office PJE Accountants And Advisors Llanbadarn Road Aberystwyth Ceredigion SY23 1EY The trustees D Wilson-Lewis N Kaderbhai (Resigned 31 March 2023) J Williams M Pugh-Jones (Resigned 28 February 2023) S Bathurst I Dulkova (Resigned 21 April 2022) M Pascoe M Dodd N Pidcock K Sinnett-Jones Independent examiner Robert Gray FCA 23 College Street Lampeter SA48 7DY
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Mind Aberystwyth
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2023
Structure, governance and management
Governing Document
The organisation is a charitable company limited by guarantee, incorporated on 22 September 2004 and registered as a charity on 9 December 2004. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association.
Membership, Recruitment and Appointment of Board
The Trustees have established a single class of membership, for individuals suffering from mental distress and their carers, family, friends and supporters. Members of the company guarantee to contribute an amount not exceeding £10 to the assets of the company in the event of winding up.
The Trustees, who are also the directors and officers of the company, constitute its Board. The Board meets quarterly and officers are available for consultation by staff, individually and collectively, in the interim between meetings.
At each annual general meeting (AGM), one third of the Trustees retire by rotation but can stand for reelection.
Trustees are appointed by election at each AGM, being proposed by Trustees or members. During the year Trustee vacancies may be filled and additional appointments may be made by the Trustees, with such Trustees holding office until the following AGM.
Trustee Recruitment, Induction and Training
As an organisation we work proactively to seek out new Trustees with the skills, experience and diversity to reflect the communities in which we work. All prospective trustees are asked to complete a skills audit to allow us to assess the contributions they may be able to make to the existing Trustee Board.
We provide prospective Trustees with comprehensive information to help them understand the charity and responsibilities of becoming a Trustee. Prospective candidates will be interviewed by the chair and Chief Executive and may then be invited to attend a board meeting as an observer. Appointments will be subject to the vote in a Board meeting.
Prior to appointment we ask that prospective Trustees make clear that they:
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understand and accept the role and legal responsibilities of being a Trustee where those actions will be governed by charity and company law;
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are able to commit sufficient time to being a Trustee;
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are willing to become a member of Mind Aberystwyth;
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accept the Mission, Aims and Objectives of Mind Aberystwyth.
We follow this up with an induction process to ensure that new Trustees have the opportunity to familiarise themselves with the organisation and the context within which it works. The induction process is managed by the Chair of the Board of Directors.
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Mind Aberystwyth
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2023
Organisational Structure
The Board delegates day-to-day management of the charity to a Chief Executive, who allocates within the Management Team key responsibilities for core service delivery, service development, oversight of HR processes and procedures, Health and Safety, training and staff development/ supervision/ appraisal, financial planning and administration, volunteer development and estates management.
Risk Management
The Board regularly monitors significant risks to which the organisation is exposed and conducts an annual review. Where appropriate, systems or procedures are in place to mitigate the risks the organisation faces. External risks to funding are managed through close budget scrutiny and planning and the development of a strategic plan, which will examine financial sustainability. Internal financial risks are minimised by the implementation of policy and procedures for authorisation of all transactions and budget spends.
Procedures are in place to assure the health and safety of staff, volunteers, members and visitors to Mind Aberystwyth.
The organisation participates in the Mind Quality Review (MQM) process, to provide assurances in relation to consistent levels of quality across all areas of the organisation's activities. The next MQM is due in September 2023 and will produce a report alongside any actions that are required to ensure consistent quality of service delivery across Health and Safety, Finances, Governing Documents and Contractual Compliance.
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Mind Aberystwyth
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2023
Objectives and activities
Mind Aberystwyth is one of a network of local Minds in Wales, working to improve the life of people affected by mental distress. We are an independent charity in our own right and we welcome the involvement of people who themselves experience mental health problems participating as Trustees, staff, volunteers or fund-raisers.
Vision:
We will not give up until everyone experiencing a mental health problem gets both support and respect.
Our Mission:
We provide advice and support to empower anyone experiencing a mental health problem. We campaign to improve services, raise awareness and promote understanding. We work to create a better life for everyone with experience of mental distress including carers, family, friends and supporters.
Goals:
Staying well: supporting people likely to develop mental health problems to stay well. Empowering Choice: for people who experience a mental health problem, to make informed choices about how they live and recover.
Improving services and support: ensuring that people receive the appropriate services and support at the right time to help their recovery and to enable them to live with their mental health problem. Enabling social participation: opening the doors to people with experience of mental health problems to enable them to participate fully in society.
Removing inequality of opportunity: striving for equality of treatment for people who experience both mental health problems and other forms of discrimination.
Organisational excellence: making the most of our assets by building a culture of excellence.
Public Benefit and Aims:
The Trustees consider how planned activities will contribute to the aims and objectives of working to create a better life for everyone with experience of mental distress by:
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advancing the views, needs and ambitions of people affected by mental distress (including carers, family, friends and supporters;
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influencing policy through involvement in the planning, development and review of local mental health services;
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challenging discrimination and promoting inclusion;
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developing quality services which reflect expressed need and diversity;
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striving to create equal rights through the creation of opportunity.
Objectives for 2023-24:
To continue our collaborative work with local Mind organisations across West Wales and with Mind and Mind Cymru;
To continue to work collaboratively with our partners and stakeholders across the county of Ceredigion;
To develop and grow the range and spread of the services that we offer to our members and to the wider community;
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Mind Aberystwyth
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2023
To ensure our business development focus increases our reach to all those who experience mental distress;
To develop our sustainability and remove reliance upon funding contracts from local government and health board.
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Mind Aberystwyth
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2023
Achievements and performance
Core Service
We have continued to develop and grow our profile as an organisation as a key part of the community in Aberystwyth, in the county of Ceredigion and more widely across West Wales.
Over the past year we have:
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continued to work flexibly to ensure that the people of Ceredigion receive comprehensive and quality services through several platforms including face to face, telephone, post and virtual platforms. We continue to publish our newsletter via our mailing list and via post for those who have no access to digital copies.
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enhanced the quality of our operational performance, financial management and governance;
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we are utilising our robust outcome measures across all areas of service delivery that demonstrate the lasting, positive impact of our work;
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we have returned to being able to offer face to face sessions for our service users which has had a positive impact on those who prefer to meet in person rather than online.
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we are now established in the centre of town and finding it beneficial to staff and service users alike. We have continue to run our activities and some support sessions in local buildings (Arad Goch and St Paul's; as well as more non-traditional venues such as public houses or coffee shops. This has enabled us to build partnerships with other local organisations and community stakeholders. We have tried to make this transition as smooth as possible for the individual who use our services and we are ensuring that we are listening to their views about these changes.
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we created a new comment and complaints booklet to make it as easy as possible for individuals to provide us with feedback and this seems to be working well.
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continued to deliver innovative services such as Active Monitoring for adults, this was rebranded after user feedback and now is provided under the title of Supported Self Help.
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we have established a networks with the University and attended/supported some of their events - Wellbeing promotion, as well as Volunteer Fair.
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we have strong strategic relationships with local service commissioners and stakeholders and across the Mind network in Wales, including engagement with One Mind in Wales.
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we have received funding to extend our peer support work with local third sector organisations beyond the March deadline.
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the Come Together Ceredigion / Dewch Ynghyd Ceredigion project, which helped to build up resilience within local communities ends at the end of March 2023.
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continued to develop closer working links with the local Mind groups within the Hywel Dda Health Board area (Mind Pembrokeshire, Mind Carmarthen and Llanelli Mind).
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we are continuing plans to rebrand as Mind Ceredigion and have been working on developing our network across Ceredigion so that we can provide services across the county.
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Mind Aberystwyth
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2023
Throughout the year we have been fortunate to continue to receive donations from a wide range of local community-based organisations as well from individuals, in memory of much missed loved ones. We remain appreciative of all the support that we are given.
We have continued to work closely with and enjoy the support of Pobl/Gwalia Care and Support, the Welsh Government, Ceredigion County Council Supporting People and Social Services Teams, Hywel Dda University Health Board, Ceredigion Association of Voluntary Organisations, WWAMH, Ceredigion Care Society, Aberystwyth Citizens Advice, Barod, the local Community Mental Health Team, the local Crisis Resolution Team, the local Primary Care Medical Health Team, Jobcentre Plus, Hafal, Citizens Advice, STEPS Training, The Ty Glyn Davies Trust, Coed Lleol, The Hafod Trust, Aberystwyth University, Aber Food Surplus and The Wallich.
We have had some significant staff changes but are getting to a point where the organisation is resilient. A new Chief Executive is in place and is establishing robust and resilient ways of working alongside the staffing Team. We continue to look to the future and take the next step in our continued development and growth, following an extended period of stabilising and strengthening the organisation.
Financial review
Results
The results of the charity are shown in the Statement of Financial Activities on page 11. The net resources of unrestricted funds amounted to a net movement of £90,391 (2020/21 net movement of £51,183). The reserves of the charity at the year-end amounted to £328,058 in unrestricted funds.
Principal Funding Sources
Our principal funding sources remained the Welsh Government, through funding directed to us via Hywel Dda University Health Board, Ceredigion County Council through the Housing Support Grant Programme (formerly the Supporting People Programme), directed to us via our sub-contracting arrangement for delivery with Pobl/Gwalia Care and Support.
Investment Policy
Most of the charity's funds are to be spent in the short term, and the Board takes the view that those not required to be spent should be held as reserve placed in a readily accessible, interest-bearing bank or building society deposit account.
Reserves Policy and Going Concern
The Board has examined the charity's requirements for reserves in light of the main risks to the organisation. It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be between three and six months core expenditure.
The Board has also considered how, in the event of any funding shortfall, existing activities and expenditure could be curtailed without prejudicing the charity's core service. During 2023/24 the charity operations continue to be restructured in light of these considerations. On the basis of this, the assessment by the Trustees is that the charity is a going concern.
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Mind Aberystwyth
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2023
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 30 January 2024 and signed on behalf of the board of trustees by:
- Dylan Wilson Lewis
Dylan Wilson-Lewis (Jan 30, 2024 15:44 GMT)
D Wilson-Lewis Trustee
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Mind Aberystwyth
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Mind Aberystwyth
Year ended 31 March 2023
I report to the trustees on my examination of the financial statements of Mind Aberystwyth ('the charity') for the year ended 31 March 2023.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or
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the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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Mind Aberystwyth
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Mind Aberystwyth (continued)
Year ended 31 March 2023
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
R J Gray
R J Gray (Jan 30, 2024 15:36 GMT)
Robert Gray FCA Independent Examiner 23 College Street Lampeter SA48 7DY
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Mind Aberystwyth
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 March 2023
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 5 | 52,831 | 182,105 | 234,936 | 46,811 |
| Charitable activities | 6 | 281,428 | 61,947 | 343,375 | 320,014 |
| Investment income | 7 | 3,058 | – | 3,058 | 177 |
| Other income | 8 | – | – | – | 125,360 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Total income | 337,317 | 244,052 | 581,369 | 392,954 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| Expenditure | |||||
| Expenditure on charitable activities | 9 | 251,067 | 233,024 | 484,091 | 341,771 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Total expenditure | 251,067 | 233,024 | 484,091 | 341,771 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Net income | 86,250 | 11,028 | 97,278 | 51,183 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| Transfers between funds | 4,141 | (4,141) | – | – | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Net movement in funds | 90,391 | 6,887 | 97,278 | 51,183 | |
| Reconciliation of funds | |||||
| Total funds brought forward | 237,667 | 4,141 | 241,808 | 190,625 | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Total funds carried forward | 328,058 | 11,028 | 339,086 | 241,808 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 14 to 24 form part of these financial statements.
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Mind Aberystwyth
Company Limited by Guarantee
Statement of Financial Position
31 March 2023
| 2023 | 2022 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 15 | 1,600 | 2,133 |
| Current assets | |||
| Debtors | 16 | – | 56,160 |
| Cash at bank and in hand | 355,546 | 434,147 | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| 355,546 | 490,307 | ||
| Creditors: amounts falling due within one year | 17 | 18,060 | 250,632 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Net current assets | 337,486 | 239,675 | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Total assets less current liabilities | 339,086 | 241,808 | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Net assets | 339,086 | 241,808 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| Funds of the charity | |||
| Restricted funds | 11,028 | 4,141 | |
| Unrestricted funds | 328,058 | 237,667 | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Total charity funds | 20 | 339,086 ৶৶৶৶৶৶৶৶৶ |
241,808 ৶৶৶৶৶৶৶৶৶ |
For the year ending 31 March 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 30 January 2024, and are signed on behalf of the board by:
- Dylan Wilson Lewis Dylan Wilson-Lewis (Jan 30, 2024 15:44 GMT)
D Wilson-Lewis Trustee
The notes on pages 14 to 24 form part of these financial statements.
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Mind Aberystwyth
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 March 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Cash flows from operating activities | ||
| Net income | 97,278 | 51,183 |
| Adjustments for: | ||
| Depreciation of tangible fixed assets | 533 | 710 |
| Other interest receivable and similar income | (3,058) | (177) |
| Interest payable and similar charges | 260 | 211 |
| Accrued income | (5,276) | – |
| Changes in: | ||
| Trade and other debtors | 56,160 | (55,160) |
| Trade and other creditors | (227,296) | 147,101 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| Cash generated from operations | (81,399) | 143,868 |
| Interest paid | (260) | (211) |
| Interest received | 3,058 | 177 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| Net cash (used in)/from operating activities | (78,601) | 143,834 |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |
| Cash flows from investing activities | ||
| Purchase of tangible assets | – | (1,544) |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| Net cash used in investing activities | – | (1,544) |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |
| Net (decrease)/increase in cash and cash equivalents | (78,601) | 142,290 |
| Cash and cash equivalents at beginning of year | 434,147 | 291,857 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| Cash and cash equivalents at end of year | 355,546 ৶৶৶৶৶৶৶৶৶ |
434,147 ৶৶৶৶৶৶৶৶৶ |
The notes on pages 14 to 24 form part of these financial statements.
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Mind Aberystwyth
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in and a registered charity in England and Wales. The address of the registered office is C/O The Old Convent, PJE Accountants And Advisors, Llanbadarn Road, Aberystwyth, Ceredigion, SY23 1EY.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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Mind Aberystwyth
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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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.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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Mind Aberystwyth
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
3. Accounting policies (continued)
Tangible assets (continued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment - 25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
- 16 -
Mind Aberystwyth
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
3. Accounting policies (continued)
Financial instruments (continued)
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
4. Limited by guarantee
Members of the company guarantee to contribute an amount not exceeding £10 to the assets of the company in the event of winding up.
- 17 -
Mind Aberystwyth
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
5. Donations and legacies
| Unrestricted | Restricted | Total Funds | ||
|---|---|---|---|---|
| Funds | Funds | 2023 | ||
| £ | £ | £ | ||
| Donations | ||||
| Donations | 9,418 | – | 9,418 | |
| Grants | ||||
| Grants - EIP Project | – | – | – | |
| Ad Hoc Grants | 43,413 | – | 43,413 | |
| Grant - Resilience Hub | – | 182,105 | 182,105 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| 52,831 | 182,105 | 234,936 | ||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2022 | ||
| £ | £ | £ | ||
| Donations | ||||
| Donations | 17,063 | – | 17,063 | |
| Grants | ||||
| Grants - EIP Project | – | 3,549 | 3,549 | |
| Ad Hoc Grants | – | 23,700 | 23,700 | |
| Grant - Resilience Hub | – | 2,499 | 2,499 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| 17,063 | 29,748 | 46,811 | ||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| 6. | Charitable activities | |||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2023 | ||
| £ | £ | £ | ||
| Hywel Dda Wanless Core Grant | 113,522 | – | 113,522 | |
| AMCYP | – | 5,000 | 5,000 | |
| Shared Learning LEIPSLS | – | 2,000 | 2,000 | |
| Active Monitoring | 32,338 | – | 32,338 | |
| Side By Side Cymru | – | 3,562 | 3,562 | |
| Gwalia Care & Support Supporting People | 133,582 | – | 133,582 | |
| Ad Hoc Funding | 1,986 | 51,385 | 53,371 | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| 281,428 | 61,947 | 343,375 | ||
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
- 18 -
Mind Aberystwyth
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
6. Charitable activities (continued)
| Unrestricted | Restricted | Total Funds | |||
|---|---|---|---|---|---|
| Funds | Funds | 2022 | |||
| £ | £ | £ | |||
| Hywel Dda Wanless Core Grant | 117,101 | – | 117,101 | ||
| AMCYP | – | 3,878 | 3,878 | ||
| Shared Learning LEIPSLS | – | – | – | ||
| Active Monitoring | – | 38,098 | 38,098 | ||
| Side By Side Cymru | – | 27,822 | 27,822 | ||
| Gwalia Care & Support Supporting People | 125,550 | – | 125,550 | ||
| Ad Hoc Funding | – | 7,565 | 7,565 | ||
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |||
| 242,651 | 77,363 | 320,014 | |||
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |||
| 7. | Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Bank interest receivable | 3,058 | 3,058 | 177 | 177 | |
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶ | ||
| 8. | Other income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| In House Sessions | – | – | 261 | 261 | |
| General income Other | – | – | 675 | 675 | |
| Other | – | – | 2,029 | 2,029 | |
| Covid Related Income | – | – | 122,395 | 122,395 | |
| ৄৄৄৄ | ৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| – | – | 125,360 | 125,360 | ||
| ৶৶৶৶ | ৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| 9. | Expenditure on charitable activities by activity type | ||||
| Activities | |||||
| undertaken | Total funds | Total fund | |||
| directly Support costs | 2023 | 2022 | |||
| £ | £ | £ | £ | ||
| Charitable Activity | 362,392 | 110,864 | 473,256 | 338,413 | |
| Governance costs | – | 10,835 | 10,835 | 3,358 | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| 362,392 | 121,699 | 484,091 | 341,771 | ||
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
- 19 -
Mind Aberystwyth
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
10. Analysis of support costs
| Analysis of | ||||
|---|---|---|---|---|
| support costs | Total 2023 | Total 2022 | ||
| £ | £ | £ | ||
| Premises | 40,487 | 40,487 | 32,450 | |
| Communications and IT | 15,181 | 15,181 | 9,005 | |
| General office | 13,541 | 13,541 | 10,246 | |
| Human resources | 41,395 | 41,395 | 7,356 | |
| Finance costs | 260 | 260 | 206 | |
| Governance costs | 10,835 | 10,835 | 3,358 | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| 121,699 | 121,699 | 62,621 | ||
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| 11. | Net income | |||
| Net income is stated after charging/(crediting): | ||||
| 2023 | 2022 | |||
| £ | £ | |||
| Depreciation of tangible fixed assets | 533 | 710 | ||
| ৶৶৶৶ | ৶৶৶৶ | |||
| 12. | Independent examination fees | |||
| 2023 | 2022 | |||
| £ | £ | |||
| Fees payable to the independent examiner for: | ||||
| Independent examination of the financial statements | 2,400 | 2,400 | ||
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | |||
| 13. | Staff costs | |||
| The total staff costs and employee benefits for the reporting period are | analysed as | follows: | ||
| 2023 | 2022 | |||
| £ | £ | |||
| Wages and salaries | 332,032 | 243,468 | ||
| Social security costs | 1,150 | 12,111 | ||
| Employer contributions to pension plans | 5,352 | 4,657 | ||
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |||
| 338,534 | 260,236 | |||
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
The average head count of employees during the year was 9 (2022: 15). The average number of full-time equivalent employees during the year is analysed as follows:
| 2023 | 2022 | |
|---|---|---|
| No. | No. | |
| Administration Staff | 2 | 5 |
| Other Staff | 7 | 6 |
| ৄৄৄৄ | ৄৄৄৄ | |
| 9 | 11 | |
| ৶৶৶৶ | ৶৶৶৶ |
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
- 20 -
Mind Aberystwyth
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
14. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees
15. Tangible fixed assets
| Equipment | |
|---|---|
| £ | |
| Cost | |
| At 1 April 2022 and 31 March 2023 | 21,825 |
| ৶৶৶৶৶৶৶৶ | |
| Depreciation | |
| At 1 April 2022 | 19,692 |
| Charge for the year | 533 |
| ৄৄৄৄৄৄৄৄ | |
| At 31 March 2023 | 20,225 |
| ৶৶৶৶৶৶৶৶ | |
| Carrying amount | |
| At 31 March 2023 | 1,600 |
| ৶৶৶৶৶৶৶৶ | |
| At 31 March 2022 | 2,133 |
| ৶৶৶৶৶৶৶৶ |
| 16. | Debtors | ||
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| Prepayments and accrued income | – | 1,000 | |
| Other debtors | – | 55,160 | |
| ৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| – | 56,160 | ||
| ৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| 17. | Creditors: amounts falling due within one year | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Trade creditors | 10,180 | 1,302 | |
| Accruals and deferred income | 2,400 | 246,269 | |
| Social security and other taxes | 5,480 | 3,061 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| 18,060 | 250,632 | ||
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| 18. | Deferred income | ||
| 2023 | 2022 | ||
| £ | £ | ||
| At 1 April 2022 | 238,593 | 92,389 | |
| Amount released to income | (238,593) | – | |
| Amount deferred in year | – | 146,204 | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| At 31 March 2023 | – | 238,593 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
- 21 -
Mind Aberystwyth
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
19. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £5,352 (2022: £4,657).
20. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At | |||||
| At | 31 | March 202 | |||
| 1 April 2022 | Income | Expenditure | Transfers | 3 | |
| £ | £ | £ | £ | £ | |
| Wanless | 34,331 | – | – | – | 34,331 |
| General Funds | 40,830 | 125,998 | (108,683) | 4,141 | 62,286 |
| Designated Fund - | |||||
| Future Projects | 48,120 | – | – | – | 48,120 |
| CCC - Floating Support | |||||
| Spot Contract | – | – | – | – | – |
| Supporting People | 67,826 | 133,582 | (75,117) | – | 126,291 |
| Ad Hoc Funding | 46,560 | 45,399 | (35,722) | – | 56,237 |
| Active Monitoring | – | 32,338 | (31,545) | – | 793 |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| 237,667 | 337,317 | (251,067) | 4,141 | 328,058 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | |
| At | |||||
| At | 31 | March 202 | |||
| 1 April 2021 | Income | Expenditure | Transfers | 2 | |
| £ | £ | £ | £ | £ | |
| Wanless | 1,098 | 116,840 | (83,607) | – | 34,331 |
| General Funds | 100,885 | 538 | (43,539) | (17,054) | 40,830 |
| Designated Fund - | |||||
| Future Projects | 26,480 | – | – | 21,640 | 48,120 |
| CCC - Floating Support | |||||
| Spot Contract | 33 | – | – | (33) | – |
| Supporting People | 34,844 | 125,550 | (92,568) | – | 67,826 |
| Ad Hoc Funding | 27,007 | 42,915 | (23,362) | – | 46,560 |
| Active Monitoring | – | – | – | – | – |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | |
| 190,347 ৶৶৶৶৶৶৶৶৶ |
285,843 ৶৶৶৶৶৶৶৶৶ |
(243,076) ৶৶৶৶৶৶৶৶৶ |
4,553 ৶৶৶৶৶৶৶৶ |
237,667 ৶৶৶৶৶৶৶৶৶ |
- 22 -
Mind Aberystwyth
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
20. Analysis of charitable funds (continued)
Restricted funds
| Restricted funds | |||||
|---|---|---|---|---|---|
| At | |||||
| At | 31 | March 202 | |||
| 1 April 2022 | Income | Expenditure | Transfers | 3 | |
| £ | £ | £ | £ | £ | |
| Side by Side Cymru | – | 3,562 | (2,412) | – | 1,150 |
| EIP Project | 473 | – | – | (473) | – |
| Shared Learning | |||||
| LEIPSLS | 33 | 2,000 | (2,000) | (33) | – |
| Active Monitoring | 107 | – | – | (107) | – |
| Ad Hoc Funding | 3,478 | 51,385 | (50,485) | (3,478) | 900 |
| AMCYP | 50 | 5,000 | (5,000) | (50) | – |
| Resilience Hub | – | 182,105 | (173,127) | – | 8,978 |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| 4,141 | 244,052 | (233,024) | (4,141) | 11,028 | |
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | |
| At | |||||
| At | 31 | March 202 | |||
| 1 April 2021 | Income | Expenditure | Transfers | 2 | |
| £ | £ | £ | £ | £ | |
| Side by Side Cymru | 115 | 27,822 | (20,860) | (7,077) | – |
| EIP Project | 82 | 3,549 | (3,158) | – | 473 |
| Shared Learning | |||||
| LEIPSLS | 33 | – | – | – | 33 |
| Active Monitoring | 48 | 38,098 | (38,039) | – | 107 |
| Ad Hoc Funding | – | 31,265 | (30,287) | 2,500 | 3,478 |
| AMCYP | – | 3,878 | (3,828) | – | 50 |
| Resilience Hub | – | 2,499 | (2,523) | 24 | – |
| ৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | |
| 278 | 107,111 | (98,695) | (4,553) | 4,141 | |
| ৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ |
Side By Side Cymru - to fund development of peer support in community groups
EIP Project - Early Intervention in Psychosis.
Shared Learning LEIPSLS - to promote learning, engagement, influence and participation
Active Monitoring - guided self-help course to help with anxiety, depression, self-esteem stress,feeling alone, managing anger and grief and loss
AMCYP - Active Monitoring for Young People is a pilot project.
Ad Hoc Funding - smaller grants received
Resilience Hub - Funding overheads and new administration roles such as CEO.
- 23 -
Mind Aberystwyth
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
21. Analysis of net assets between funds
| Unrestricted | Restricted | Total Funds | ||
|---|---|---|---|---|
| Funds | Funds | 2023 | ||
| £ | £ | £ | ||
| Tangible fixed assets | 1,600 | – | 1,600 | |
| Current assets | 344,518 | 11,028 | 355,546 | |
| Creditors less than 1 year | (18,060) | – | (18,060) | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Net assets | 328,058 | 11,028 | 339,086 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2022 | ||
| £ | £ | £ | ||
| Tangible fixed assets | 2,133 | – | 2,133 | |
| Current assets | 247,573 | 242,734 | 490,307 | |
| Creditors less than 1 year | (12,039) | (238,593) | (250,632) | |
| ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄৄ | ||
| Net assets | 237,667 | 4,141 | 241,808 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ | ||
| 22. | Analysis of changes in net debt | |||
| At | ||||
| At 1 Apr 2022 | Cash flows | 31 Mar 2023 | ||
| £ | £ | £ | ||
| Cash at bank and in hand | 434,147 | (78,601) | 355,546 | |
| ৶৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶৶ |
- 24 -