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← Mind In Somerset

2024-03-31-accounts

Accounts and Impact Statement 2023/2024 www.mindinsomerset.org.uk

Introduction from Dr Alexander Priest, Chief Executive

As I reflect on this past year, navigating through the challenges and triumphs, I am filled with immense gratitude for the incredible dedication and hard work of the entire Mind in Somerset team. On the hottest summer days and the coldest winter nights, your commitment to our mission and the wellbeing of our service users never falters. The passion and energy you bring to our work inspire me daily, and I want to take this moment to thank each of you for your unwavering support.

Our volunteers, as always, have been the backbone of our charity. Whether you are offering a listening ear, supporting behind the scenes with administrative tasks, or playing a vital role in our fundraising efforts, your contributions make a significant difference. Your generosity and dedication touch countless lives, and for that, we are deeply grateful.

This year, I am proud to highlight our successful presence at the Glastonbury Festival. It was incredible to witness our team engage with festival-goers, spread awareness about mental health, and provide much-needed support. Your enthusiasm shone through, making a lasting impression on everyone who interacted with us. This is just one example of how our work continues to resonate far and wide, thanks to your dedication.

Our impact extends beyond festivals. With a range of fundraising events and seasonal initiatives, such as the Youth Matters Summer Groups, we are creating valuable opportunities to connect with our community, raise awareness, and provide essential support. While some of us may take a wellearned break this summer, our Fundraising and Youth Matters teams are in full swing, ensuring we continue to reach those who need us most. Thank you for your tireless efforts.

I am also excited to announce a significant milestone: the opening of our new Wellbeing Hub on Canon Street in Taunton. This space, will enable us to expand our services and support even more people in the community. To celebrate this achievement, we will be hosting a grand opening event, and I look forward to seeing many of you there as we mark this new chapter in our journey. As Mind in Somerset continues to grow and evolve, I am constantly reminded of the incredible team behind our success. Each of you plays a vital role in making a real difference in the lives of those we support, and together, we are building a brighter future for mental health across the region. Thank you for all that you do, let’s look forward to another incredible year of making a difference. Alex

Our values with you at heart!

2023/24 in Numbers

We answered 35,487 Calls to our Mindline 24/7 Service

We responded to 1,481 Mindline Webchats.

Bridging the Gap advocacy service delivered 2,738 support sessions to those in Taunton and West Somerset

We have over 150 volunteers supporting across our 62 services!

829 hours of 1:1 counselling provided to those in need

22 Businesses and over 1000 people were trained by us through Community Learning, Corporate and Public Health programmes.

304 people attended our community days in ay Taunton, Yeovil and Shepton Mallet We provided over 52,000 support sessions!

4,759 callers reported improved mental and emotional wellbeing due to our support

We reached over 200,000 people on social media

We now have 6 offices across Somerset !!

¥* inso Our Year in Pictures in Somerset

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Supporting people in poverty

The cost of living crisis was never out of the headlines in 2023/24. Food prices. Energy bills. Housing costs. It’s hard to overstate the impact this is having on mental health. We provide services to help such as Wiser Money and Bridging the Gap advocacy. We are here to support everyone who is anxious about money or facing additional pressures. This is why all our services can be accessed free of charge

Fundraising!

Our supporters climbed mountains and crossed Somerset a for us! a

Glastonbury Festival donated an amazing £20,000!

Supporting young people

New NHS research, published in November 2022, showed exactly why our work with young people matters. 1 in 6 young people have faced a mental health problem since the start of the pandemic. For 17-19 year olds, that rises to 1 in 4. We are proud of being able to expand our Youth Matters service to groups and 1:1 services across Somerset supporting 577 young people.

Mind in Somerset (A Charitable Company Limited by Guarantee)

Annual Report and Financial Statements

For the Year Ended 31 March 2024

Company Number: 05148414 Charity Registered in England and Wales Number: 1109626

Mind in Somerset Contents For the Year Ended 31 March 2024

Page
Contents 1
Reference and Administrative Details 2
Trustees’ Annual Report 3 – 12
Independent Auditors’ Report 13 – 16
Statement of Financial Activities 17
Balance Sheet 18
Statement of Cash Flows 19
Notes to the Financial Statements 20 – 35

Prepared By Albert Goodman LLP

Page 1

Mind in Somerset Reference and Administrative Details For the Year Ended 31 March 2024

Trustees and Directors G Pateman (Chair)
H Andrews
R Brooks
R Campbell
Dr J Cox
F Geatches
L Marshall
R Miles
R Morley
Dr C Norris
N Stone
Company Secretary F Geatches
Chief Executive Dr A Priest
Chief Operations Officer A Pritchard
Principal Office and Registered Office Sussex Lodge
44 Station Road
Taunton
Somerset
TA1 1NS
Bankers Lloyds Bank
31 Fore Street
Taunton
Somerset
TA1 1HN
Auditors Albert Goodman LLP
Goodwood House
Blackbrook Park Avenue
Taunton
Somerset
TA1 2PX

Prepared By Albert Goodman LLP

Page 2

Mind in Somerset Trustees’ Report For the Year Ended 31 March 2024

The Trustees (who are also the Directors for the purpose of Company Law) have pleasure in presenting their annual report and the audited financial statements for the year ended 31 March 2024. The provisions of the Statement of Recommended Practice “Accounting and Reporting by Charities” (SORP FRS 102 - implemented 1 January 2019) have been adopted in preparing the annual report and financial statements of the charity.

Public Benefit

The trustees report that the charitable activities described in “Objectives and Activities” and “Achievements and performance and plans for the future” paragraphs are for the public benefit. The trustees also confirm that they have complied with section 4 of the Charities Act 2006 to have due regard to the public benefit guidance published by the Charity Commission.

Structure, governance and management

Mind in Somerset (“MiS”) is an independent charity, registered number 1109626 and a company limited by guarantee, registered number 05148414, registered address; Sussex Lodge, 44 Station Road, Taunton, Somerset, TA1 1NS.

The governing document is the memorandum and Articles of Association dated 17 May 2004 and updated February 2022.

The following trustees who are also directors for the purposes of company law, served during the year and post year end:

H Andrews (appointed 19/04/2024) S Baker (resigned 01/11/2023) R Brooks (appointed 20/07/2023) R Campbell (appointed 07/02/2024) Dr J Cox F Geatches L Marshall (appointed 04/10/2023) S Mason (resigned 30/09/2023) R J C Maw (resigned 05/10/2023) R Miles (appointed 07/02/2024) R Morley (appointed 07/02/2024) Dr C Norris G Pateman H Scrivener (appointed 05/04/2023 and resigned 21/11/2023) N S Stone H Trotman (appointed 05/04/2023 and resigned 15/08/2023)

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £10 in the event of liquidation of the company.

The trustees attend board meetings monthly, sometimes these meetings are held ‘virtually’.

Lifetime Honorary Presidents Maureen Street, Jean Grant Patron Simon Shepherd

Prepared By Albert Goodman LLP

Page 3

Mind in Somerset Trustees’ Annual Report For the Year Ended 31 March 2024

Chair’s Report

This is the fifth full year as a single Mind entity after the merger between the two constituent charities, South Somerset Mind and Taunton and West Somerset Mind, on 1 October 2018.

The developments noted below have given the charity the opportunity to apply for and been successful in obtaining greater funding and the upshot of this is that the charity had, by the end of the financial year, an income of nearly £3.5 million and a healthy reserve, which can also be seen in the attached accounts.

Within 2023/24 all significant services were successful in obtaining re-funding where it was required. Over half our services are now contracted through the Open Mental Health partnership and most of these are, from April 2024, contracted on a 3-to-5-year basis, giving the charity greater security with which it can plan for the future.

The Charity has continued with its development of accommodation based services for service users through its move to better accommodation in Bridgwater.

Mind in Somerset now has a presence in each of the five largest centres of population in the county (Taunton, Yeovil, Shepton Mallet, Bridgwater and Minehead) from which service user support is provided and has also acquired some free office space in premises in Weston Super Mare (within the administrative county of North Somerset).

Mind Charity shop in Taunton. which opened in August 2019, is managed by National Mind but Mind in Somerset provided a significant investment into the setting up of the shop and takes a concomitant share of the profits and losses. The shop has consistently made small surpluses and this has continued into 2023/24. Further surpluses are anticipated and the current lease which fell due in April 2024 was successfully renegotiated.

Plans for the Future of the Charity

The charity is anxious to increase all areas of their work, but this will depend on additional funding, which is regularly being examined. The charity is very much aware of the increasing demand for its services and that there are still gaps in our service provision. The charity is also aware of the relative paucity of community mental health services in North Somerset and will, subject to funding availability, seek to develop its work in that area. We also have plans which are nearing fruition to move our Taunton HQ from Sussex Lodge to better accommodation within the town centre which will provide more facilities for service users and potential charity partners.

The charity wishes, in future, to extend its work with schools and youths, as it is felt that there is a great demand and also to provide a more comprehensive counselling service. Probably the most significant development is our continued participation in Open Mental Health, an alliance of local voluntary associations and the NHS which has come together to provide 24/7 support to adults in Somerset.

The main challenges for the charity are in obtaining funding for services which are, either in part or in full, not fully funded, and in maintaining the level of its fundraising activities.

Prepared By Albert Goodman LLP

Page 4

Mind in Somerset Trustees’ Annual Report For the Year Ended 31 March 2024

Despite the many challenges, Mind in Somerset believes that the many services it provides are of high quality; this is evidenced by the feedback it receives from service users, the quality metrics by which services are measured and the success of its contract re-commissioning.

The trustees are fully aware that all of the above would not happen without the excellent work that the Chief Executive and Chief Operating Officer and their staff put in on a daily basis. The Trustees would like to thank them for all that they do and also to thank the numerous volunteers that are now involved in the charity. Without volunteers, no charity would survive, and they form a very important part of the organisation.

Objectives and activities

a. POLICIES AND OBJECTIVES

Our objectives are to:

Policies and procedures are reviewed on a regular basis by the Policies and Quality Group, which is a Committee of the Board and the minutes of which are reported to the Board. The Charity is reviewed by the national parent charity to assess, amongst other things, whether policies and procedures meet National Mind objectives and standards. The next review is scheduled for October 2024.

In planning and setting their objectives, the Charity trustees have complied with the duty to have due regard to guidance published by the Charity Commission on public benefit. In particular, they review that all of Mind in Somerset’s activities are aimed at the betterment of its service users. Currently Mind in Somerset does not itself undertake any trading activities which are not related to its core objectives, though it has a minority stakeholder in a partnership with the National Mind organisation in the charity shop in Taunton, mentioned above. This quickly established itself and has become a valuable addition to both a local presence and the financial support of the charity. Other than this venture Mind in Somerset does not plan to undertake any trading activities which are unrelated to its mental health objective.

b. ACTIVITIES FOR ACHIEVING OBJECTIVES

Provision of services, advice, support and information in the field of mental health, but not exclusively and may cover other areas of need. This is done by:

All activities pursued by the Charity are aimed at promoting improvements to individual and society’s mental health and wellbeing.

Prepared By Albert Goodman LLP

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Mind in Somerset Trustees’ Annual Report For the Year Ended 31 March 2024

c. MAIN ACTIVITES UNDERTAKEN TO FURTHER THE CHARITY'S PURPOSES FOR PUBLIC BENEFIT

The main activities are contained within the Chair’s Report but these include:

The people who access our services are at the heart of everything we do. Our services are available to help prevent mental health issues developing or escalating and support those who have been affected by a mental health issue. We want to ensure we have a focus on service users and that they have a positive experience of involvement with our Organisation.

Many of our services make significant use of volunteers and they may not be viable without their contribution. Volunteers are especially important with regard to the many fundraising activities the charity undertakes.

Achievements and performances

a. REVIEW OF ACTIVITIES

2023-24 has been a year of further substantial progress for the charity and building on the strong base created in previous years. The principal financial challenge was to build up on the surpluses achieved in those years. This has been achieved again this year with a surplus of £133k in the year against a small deficit of £19k last year. This leaves very substantial reserves of £1,092k at the end of the year. The charity has remained debt free throughout the year, as it has been in previous years, and has significant cash balances of £602k at the balance sheet date, 31 March 2024, (2022/23: £619k) which contributed, along with significant funds receivable, to the build-up of reserves above and of which £921k (2022/23: £933k) were unrestricted.

The continuation of a healthy surplus has been achieved by the extension of core services, the growth in the number of new projects, and a significant increase in demand for the services offered by both providers and clients. This has been further enhanced by careful management and cost control and achieved by the management team led by both the Chief Executive Officer and the Chief Operating Officer.

It is encouraging that despite the challenges and disruptions over the past few years the charity continues to deliver on all of its services and projects which meet or exceed funders’ expectations and will continue in a manner appropriate to a financially stable and high performing charity in the future.

Prepared By Albert Goodman LLP

Page 6

Mind in Somerset Trustees’ Annual Report For the Year Ended 31 March 2024

In “normal” times significant numbers of people, up indeed to 25%, will experience a mental health problem.. The work of Mind is an important part of the overall provision of mental health services and the work of Mind in Somerset seeks to identify and deliver this support within our local area. Much of our work is preventative in nature. It thus benefits the individual and families in reducing the incidence and impact of mental health issues, it benefits the economy by reducing the incidence of mental health issues in the workplace and it can also thereby benefit the pressure on the public purse. From a purely economic standpoint, the majority of our services can be seen as an investment which have a rate of return defined by the reduction in need for future expenditure.

Financial Review

a. GOING CONCERN

After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources available to it to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

b . RESERVES POLICY

Unrestricted funds are needed to:

The Trustees consider it prudent that core unrestricted reserves should be sufficient to cover three months management and administration costs. At 31 March 2024 the balance sheet shows unrestricted funds of £389k which is well in excess of this figure. The Trustees have reviewed the existing projects, activities and income sources and plan to ensure that reserves continue to reach the required level.

The level of reserves is monitored by reference to monthly management financial reports. There is also a rolling programme to review policy and risk management at the Finance and Operations Group which meets each month and the minutes of which are reported to monthly Board meetings. The healthy position of the reserves at 31 March 2024 has enabled the purchase of 21 Canon Street in Taunton to provide improved facilities for our community mental health services.

The charity does not hold any funds as a custodian trustee.

Prepared By Albert Goodman LLP

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Mind in Somerset Trustees’ Annual Report For the Year Ended 31 March 2024

c. FINANCIAL POSITION

The statement of financial activities shows a significant increase in total income with a corresponding increase in expenditure resulting in a surplus for the year of £126k (2022/23: £27k). The overall funds therefore at 31 March 2024 are £1,132k (2022/23: £1,006k).

The Board of Trustees has approved a budget for 2024/25 of £3.3m total income. This was prepared on a conservative basis and shows a £89k deficit which is well within the surplus unrestricted reserves held at 31 March 2024. This budget deficit arises primarily from inflation outstripping the increases in contract services income. Trustees are actively reviewing costs and activities to ensure the charity moves to a break-even or surplus position in future years.

The Trustees are confident that the charity has adequate resources for the foreseeable future to carry out its objectives.

Structure, Governance and Management

a. CONSTITUTION

The charity is registered as a charitable company limited by guarantee and was incorporated on 8 June 2004 and this registration was transferred to Mind in Somerset on 1 October 2018. It is also a registered charity. The company is governed by its memorandum and articles of association.

It is one of the local associations affiliated to National Mind covering most major towns and rural areas.

b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES

New Trustees are appointed by the Board of Trustees at a regular board meeting or the AGM as appropriate. Four trustees from each of Mind in Taunton and West Somerset and South Somerset Mind were appointed as trustees of Mind in Somerset at 1 October 2018. Four trustees appointed at that date remain on the Board, so that most trustees have been appointed by Board since that date. The organisation seeks to recruit trustees with skills, values and experience that compliment and benefit the organisation. Individuals with personal experience of mental ill health are actively encouraged to volunteer throughout the organisation, particularly at Board level. The organisation provides training and support to any individual who is able to volunteer.

c. ORGANISATIONAL STRUCTURE AND DECISION MAKING

The management of the charity is the responsibility of the Trustees. As well as overall corporate responsibility, each trustee has a ‘portfolio’ of individual responsibilities. As well as Chair, Treasurer and Company Secretary, there are Directors for Fundraising, Communications, HR, IT/Digital, Mental Health, Equality and Diversity, Counselling and Influencing and Participation.

The Trustee Board have a clearly identified and specified scheme of financial delegation for the Charity and this is reviewed annually by the Trustee Board. The Chief Executive has a specific duty and role within the organisation concerning financial control and works closely with the Finance Team. At its inception Mind in Somerset established a Finance and Operations Group under the Chairmanship of the Treasurer. It has the remit of decision and review of operational procedures. It meets monthly and its recommendations are reviewed by the Board for ratification and approval. The other formal Committee of the Board is the Policies and Quality Committee which reviews the charity’s policies, its quality measures and the Mind Quality Management

Prepared By Albert Goodman LLP

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Mind in Somerset Trustees’ Annual Report For the Year Ended 31 March 2024

Decisions are made after consultation with service users and there is a clear set of policies and procedures showing how decisions are made and new ideas explored. There is a network of organisational meetings and working groups that are aimed at shaping policy, strategic direction and consultation. Board members may champion specific projects and also may hold specific portfolios on the Board such as finance, IT or personnel.

The organisation consists of a Board of Trustees who has overall responsibility for the organisation. The Board of Trustees meets monthly.

Day to day activities are carried out by employed staff and volunteers under the supervision of the Chief Executive Officer and the Chief Operating Officer, supported by a Senior Management Team.

d. RISK MANAGEMENT

The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks. The Trustees have developed a Risk Register which is reviewed by the Finance and Operations Group every two to three months. The outcomes are then reported to Board and the Chair has the responsibility of keeping the risk register up to date. Included in the overall risk register are sub-registers for individual areas, including Information Governance and Strategic Plan achievement.

e. FUNDRAISING

Mind in Somerset employs paid professional staff to organise fundraising events and co-ordinate the activities of our supporters and volunteers in the wider community. Fundraising is managed through a paid Funding Manager, a member of the Senior Management Team, and the Funding Manager is supported by a team which includes both paid staff and volunteers. The Board has a strategic oversight of fundraising and one member of the Board is the nominated lead on its behalf. Mind in Somerset does not use professional fundraisers or involve commercial participators. There have been no complaints about fundraising activity this year. An ethical fundraising policy has been developed for the new charity and this has been made available to all staff. As a result, all of the fundraising guidance and working practices have been updated so that they are compliant.

Included in this policy are the following:

Mind in Somerset will not accept any of the following; where the donation:

In addition:

Prepared By Albert Goodman LLP

Page 9

Mind in Somerset Trustees’ Annual Report For the Year Ended 31 March 2024

PLANS FOR FUTURE PERIODS

a. FUTURE DEVELOPMENTS

The Trustees recognise the position of the charity as set out in these financial statements and have put in place measures to improve the esteem with which it is held by all its stakeholders – its service users, its staff and volunteers, national Mind, other local Minds, its funders and its fundraisers. To this end it has set out a number of strategic objectives for 2024/25 which are set out below and which it is the intention to refine further over the forthcoming months so that all stakeholders may have an increasingly positive view of both its ethos and its performance.

Strategic Objective1

That all current services are recommissioned (unless there are clear operational or value reasons not to do so)

Strategic Objective 2

That the Board maintains its financial health and resilience as measured by the level of its unrestricted reserves and may use these reserves in its consideration of the provision of its accommodation objectives.

Strategic Objective 3

That the Board seeks to enhance its Influencing and Participation work through greater engagement, especially with regard to the promotion of diversity and involvement of diverse communities; this will incorporate both co-production and co-design. Particular focus may be given to the following groups:

Strategic Objective 4

That the Board continues in its quest to become a good employer by developing a safe, fair & desirable workplace that allows employees and volunteers to work well & thrive. By providing support & coaching to all Managers, in turn contributing to all new opportunities that may arise. This includes an overhaul of the employee lifecycle to ensure that the Charity sufficiently supports & empowers anyone with direct lived experience & specific marginalised groups

Prepared By Albert Goodman LLP

Page 10

Mind in Somerset Trustees’ Annual Report For the Year Ended 31 March 2024

Strategic Objective 5

That the Board seeks to take opportunities offered to stabilise and expand the charity and, in particular, to increase the number of service users whom it seeks to assist. The list below is not exhaustive but particular opportunities may arise in respect of:

Strategic Objective 6

That in 2024 the Board seeks to develop further the indicators it uses to measure the effectiveness of the charity in improving the mental health of the people of Somerset.

Strategic Objective 7

That the Board’s digital strategy references significant current developments in the digital field with the threefold aims of:

Strategic Objective 8

That, despite the current difficult economic circumstances, that the Board seeks to increase its levels of fundraising primarily through “in aid of” events and also increase its corporate training provision from that pertaining in 2023.

The Board reviews its progress against these objectives on a regular basis and they form one of the principal ways in which the effectiveness of the charity is measured.

Prepared By Albert Goodman LLP

Page 11

Mind in Somerset Trustees’ Annual Report For the Year Ended 31 March 2024

Statement of Trustees’ Responsibilities

The trustees (who are also directors of Mind in Somerset for the purposes of company law) are responsible for preparing the Trustees’ Annual Report (incorporating the Directors’ Report) and the financial statements in accordance with 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).

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 the income and expenditure of the charitable company for that period. In preparing these financial statements, the trustees are required to:

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

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

In so far as the Trustees are aware:

Approved by order of the board on ………2/10/24…………………………… and signed on their behalf by:

……………………………….. G Pateman Chair of Trustees

Prepared By Albert Goodman LLP

Page 12

Mind in Somerset Independent Auditors' Report to the Trustees and Members For the Year Ended 31 March 2024

Opinion

We have audited the financial statements of Mind in Somerset (the 'charitable company') for the year ended 31 March 2024, which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

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

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustee’s 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 entity’s ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors 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 Trustees’ Report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

Prepared By Albert Goodman LLP

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Mind in Somerset Independent Auditors' Report to the Trustees and Members For the Year Ended 31 March 2024

Opinion on other matter prescribed by the Companies Act 2006

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

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

Matters on which we are required to report by exception

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 12, 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.

Auditor’s 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 an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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:

Prepared By Albert Goodman LLP

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Mind in Somerset Independent Auditors' Report to the Trustees and Members For the Year Ended 31 March 2024

The extent to which the audit was considered capable of detecting irregularities including fraud Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of noncompliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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 auditor's report.

Prepared By Albert Goodman LLP

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Mind in Somerset Independent Auditors' Report to the Trustees and Members For the Year Ended 31 March 2024

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

…………………………………… Michelle Ferris BSc (Hons) FCA DChA Goodwood House Senior Statutory Auditor Blackbrook Park Avenue for and on behalf of Taunton Albert Goodman LLP Somerset Chartered Accountants TA1 2PX Statutory Auditor

Date: 02.10.2024

Prepared By Albert Goodman LLP

Page 16

Mind in Somerset

Statement of Financial Activities (including Income and Expenditure Account) For the Year Ended 31 March 2024

----- Start of picture text -----
Unre- Re- Unre- Re-
stricted stricted Total stricted stricted Total
Notes Funds Funds 2024 Funds Funds 2023
£ £ £ £ £ £
Income from:
Donations (including grants) 2 422,715 205,362 628,077 335,849 15,589 351,438
Charitable activities 3 222,236 2,274,772 2,497,008 263,461 2,074,502 2,337,963
Other trading activities 4 337,428 9,313 346,741 202,201 1,734 203,935
- -
Income from investments 5 14,039 14,039 1,271 1,271
- - - -
Profit on disposal of fixed assets 35 35
Total 996,418 2,489,447 3,485,865 802,817 2,091,825 2,894,642
Expenditure on:
Charitable activities 6 912,008 2,448,108 3,360,116 794,937 2,119,179 2,914,116
Total 912,008 2,448,108 3,360,116 794,937 2,119,179 2,914,116
Net income / (expenditure)
for the year before transfers 84,410 41,339 125,749 7,880 (27,354) (19,474)
- -
Transfers 34,753 (34,753) (79) 79
Net movements in funds 119,163 6,586 125,749 7,801 (27,275) (19,474)
Reconciliation of funds:
Fund balances at 01 April 2023 932,903 26,348 959,251 925,102 53,623 978,725
Fund balances at 31 March 2024 1,052,066 32,934 1,085,000 932,903 26,348 959,251
----- End of picture text -----

The results for the year derive from continuing activities and there are no gains or losses other than those shown above.

The statement of financial activities incorporates the income and expenditure account.

Prepared By Albert Goodman LLP

Page 17

Mind in Somerset – Company Registration Number: 05148414 Balance sheet As at 31 March 2024

Notes
Fixed assets
Tangible fixed assets
9
Current assets
Stock
Debtors
10
Cash at bank and in hand		 1,927
295,607
602,473		 £
531,797
2024		 2,325
202,470
619,076		 £
533,732
2023
Creditors
Amounts falling due within one year
11		 900,007
(346,804)		 823,871
(398,352)
Net current assets 553,203 425,519
Net assets 1,085,000 959,251
Unrestricted funds
General funds
13
Restricted funds
13		 1,052,066
32,934		 932,903
26,348
1,085,000 959,251

Approved by the Board for issue on ……2/10/24………………… and signed on its behalf by:

………………………………. ………………………………. G Pateman H Andrews Chair of Trustees Treasurer

Prepared By Albert Goodman LLP

Page 18

Mind in Somerset Statement of Cash Flows For the Year Ended 31 March 2024

----- Start of picture text -----
Total Total
2024 2023
£ £
Notes
Cash flows from operating activities
Net movements in funds for the year 125,749 (19,474)
Adjustments to cash flows from non-cash items
Depreciation and amortisation 9 69,319 54,988
Finance income 5 (14,039) (1,271)
Loss on disposal of fixed assets - -
181,029 34,243
Working capital adjustments
Decrease/(increase) in stock 398 2,524
(Increase)/decrease in debtors 10 (93,137) (51,304)
Increase/(decrease) in creditors 11 (51,548) 115,878
Net cash flow from operations 36,742 101,341
Cash flows from investing activities
Interest received 5 14,039 1,271
Acquisitions of tangible assets 9 (67,384) (114,681)
Net (decrease)/increase in cash and cash equivalents (16,603) (12,069)
Reconciliation of net debt
Cash and cash equivalents at the beginning of 619,076 631,145
the reporting period
Net (decrease)/increase in cash and cash equivalents (16,603) (12,069)
Cash and cash equivalents at the end of the 602,473 619,076
reporting period
Cash & Cash equivalents reconciliation:
Cash at bank 602,473 619,076
Total cash & cash equivalents at the end of the 602,473 619,076
reporting period
----- End of picture text -----

Prepared By Albert Goodman LLP

Page 19

Mind in Somerset Notes to the Financial Statements For the Year Ended 31 March 2024

1 Accounting policies

1.1

General information and basis of preparation

Mind in Somerset is a company limited by guarantee incorporated in the United Kingdom under the Companies Act. The address of the registered office is given on page 2. The nature of the charity’s operations and its principal activities are set out in the Trustees report on pages 3-12.

The financial statements have been prepared under the historic cost convention. The financial statements have been prepared in accordance with 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) - (Charities SORP (FRS102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The charity meets the definition of public benefit under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

1.2

Income

All income is included in the statement of financial activities when the charity is entitled to the income, it has met any performance criteria, and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income. The valuation of donated services is not quantified within the Statement of Financial Activities as this is related purely to volunteers and therefore is not permitted to be included.

Donation income is received by way of general grants, donations and gifts and is included in full in the Statement of Financial Activities when receivable.

Income from grants, relating to specifically the provision of goods or services as part of charitable activities or services to clients are included in full in the Statement of Financial Activities when receivable and in the period to which they relate. Grants are deferred when the monies have been received in advance of the period to which they relate.

Other trading activities income includes income relating to fundraising and is included in the Statement of Financial Activities when receivable.

Investment income is included when receivable.

Other income is recognised in the accounts when receivable and relates to profit on disposal of fixed assets.

Prepared By Albert Goodman LLP

Page 20

Mind in Somerset Notes to the Financial Statements For the Year Ended 31 March 2024

1.3 Expenditure

Expenditure is accounted for on the accruals basis. Liabilities are recognised in the accounting period to which they relate. Support costs are shown under the costs in furtherance of the charitable activities.

1.4 Government grants

Government grants are accounted for when unconditionally due and reasonable assurance can be gained that they will be received. Where funds are received in advance, for a specified period, these funds are deferred and recognised in the period to which they relate. Where funds have not been received in a specified period, these funds will be accrued in debtors and recognised in the period to which they relate. Not all grants received have conditions and performance indicators attached, where this is the case, the income is included within donations. Performance related grants are included within Charitable Activities income.

1.5

Fixed assets

Fixed assets are valued at cost less depreciation. No assets are capitalised under £500. Depreciation is calculated to write off the cost or valuation of fixed assets over their estimated useful lives at the following rate:-

Furniture, fixtures and fittings – 25% straight line Shop fixtures and fittings – 20% straight line Property Improvements (shown within Freehold Land and Buildings) – 4 to 40 years Freehold Land and Buildings – 2.5% straight line

1.6

Debtors

Trade debtors are recognised at the settlement amount due.

Accrued income is recognised at the settlement amount due, and prepayments are valued at the amount prepaid.

1.7

Cash at bank and in hand

Cash at bank and in hand comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

1.8

Creditors

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount.

1.9 Taxation

The company is a registered charity and is therefore not liable to corporation tax to the extent that gains and income are applied to charitable objectives.

1.10 Pension contributions

The charity operates a defined contribution pension scheme. The scheme and its assets are held by independent managers. Contributions are recognised in the Statement of Financial Activities in the period in which they become payable in accordance with the rules of the scheme.

Prepared By Albert Goodman LLP

Page 21

Mind in Somerset Notes to the Financial Statements For the Year Ended 31 March 2024

1.11 Operating leases

The charity classifies the lease of property, office equipment and vehicles as operating leases as title remains with the lessor. Rentals payable under operating leases are charged to the Statement of Financial Activities as incurred over the term of the lease.

1.12 Fund accounting

General funds are unrestricted funds receivable or generated for the objects of the company without further specified purpose and are available as general funds.

Designated funds are unrestricted funds earmarked by the Trustees for particular purposes.

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets this criterion is charged to the fund, together with a fair allocation of management and support costs.

1.13 Financial Instruments

The charity only holds basic financial instruments as defined in FRS 102. The financial assets and liabilities of the charity and their measurements are as follows:

Financial assets – trade and other debtors and accrued income are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank and deposit accounts– is classified as a basic financial instrument and is measured at face value.

Financial liabilities – trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition. Deferred income is not deemed to be a financial liability, as the cash settlement has already taken place and there is an obligation to deliver services rather than cash or another financial instrument.

Prepared By Albert Goodman LLP

Page 22

Mind in Somerset Notes to the Financial Statements For the Year Ended 31 March 2024

2 Donations (including grants)

----- Start of picture text -----
Unre- Re- Unre- Re-
stricted stricted Total stricted stricted Total
Funds Funds 2024 Funds Funds 2023
£ £ £ £ £ £
Grant income
SCC - Enhanced
Bereavement Service 12,000 - 12,000 12,000 - 12,000
Navigate Wiser £ Money Scarp
- -
To Somerset 31,610 31,610 20,285 20,285
- - - -
Food & Mood - Yeovil 5,000 5,000
- - - -
Time to Change 6,000 6,000
- - - -
Ukraine Peer Support 5,000 5,000
- - - -
HPC Peer Support (2,371) (2,371)
Women first - Ending
- -
Homelessness for Women 17,984 17,984 13,524 13,524
SSDC - Youth Matters South
- - - -
Somerset 12,000 12,000
- - - -
British Gas Energy Trust 19,650 19,650
- - - -
Street Youth grants 5,565 5,565
- - - -
Supported Self Help 60,096 60,096
- - - -
MH Empowering Minds 9,976 9,976
DWP - 18,659 18,659 - - -
- - - -
Somerset Connect 55,000 55,000
- - - -
NGED Community Matters 9,999 9,999
- - - -
Wolfson Foundation 32,295 32,295
Other grants receivable
-
<£5k 5,000 13,772 18,772 1,960 1,960
86,244 205,362 291,606 57,809 15,589 73,398
- -
Donations and legacies 336,471 336,471 278,040 278,040
422,715 205,362 628,077 335,849 15,589 351,438
----- End of picture text -----

Prepared By Albert Goodman LLP

Page 23

Mind in Somerset Notes to the Financial Statements For the Year Ended 31 March 2024

3 Charitable activities income

Bridging the gap
SCC - Suicide Bereavement
- SSBSS Peer
- Somerset Big Tent Youth
Group
- Orange Button Scheme
Crisis
Mindline 24/7
Rethink Mental Illness
- OMH Community
- OMH Displaced People
- OMH Mindline
- OMH Text & Chat
- Specialist Activity & Group
worker
- Locality Lead
- Shepton Community Days
- Intensive Navigator
- Mendip and Taunton Activity
& Group worker
- Peer suicide prevention
- Family safeguarding
- After Furlough
- Stakeholder Engagement
Forum
- Mindline Text & Chat Facility
and Mindline plus extra
- Yeovil Community Day
- Taunton Community Day
Carried forward		 Unre-
stricted
Funds
£
41,000
98,000
-
-
9,000
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Re-
stricted
Funds
£
-
-
-
-
-
300,967
875,228
153,559
26,123
28,968
17,381
66,152
52,349
8,767
86,763
106,102
63,177
130,082
5,167
19,412
19,219
6,054
5,973		 Total
2024
£
41,000
98,000
-
-
9,000
300,967
875,228
153,559
26,123
28,968
17,381
66,152
52,349
8,767
86,763
106,102
63,177
130,082
5,167
19,412
19,219
6,054
5,973		 Unre-
stricted
Funds
£
41,000
98,000
6,970
20,000
9,000
-
-
-
-
-
-
-
-
-
7,654
-
-
-
-
-
-
-
-		 Re-
stricted
Total
Funds
2023
£
£
-
41,000
-
98,000
-
6,970
-
20,000
-
9,000
336,724
336,724
870,316
870,316
-
-
-
-
-
-
-
-
68,567
68,567
53,402
53,402
-
-
100,327
107,981
109,631
109,631
61,066
61,066
106,607
106,607
6,377
6,377
17,954
17,954
21,981
21,981
5,388
5,388
5,411
5,411
1,763,751
1,946,375
148,000 1,971,443 2,119,443 182,624

Prepared By Albert Goodman LLP

Page 24

Mind in Somerset Notes to the Financial Statements For the Year Ended 31 March 2024

----- Start of picture text -----
3 Charitable activities income (continued)
Unre- Re- Unre- Re-
stricted stricted Total stricted stricted Total
Funds Funds 2024 Funds Funds 2023
£ £ £ £ £ £
Brought forward 148,000 1,971,443 2,119,443 182,624 1,763,751 1,946,375
- Somerset Mental Wellbeing
- -
Service 197,413 197,413 204,431 204,431
- -
- Peripatetic Workers 85,434 85,434 65,854 65,854
- -
- Capacity payment (5,703) (5,703) 11,800 11,800
- - - -
Wiser £ Money 19,290 19,290
-
CCG/SOMPAR
- -
- Time To Connect 8,290 8,290 8,000 8,000
-
SOMPAR
- -
- SUCH project 54,465 54,465 51,872 51,872
- -
- Hearing voices 17,895 17,895 20,452 20,452
-
Connect Somerset
- - - -
- Mendip Hub 10,000 10,000
- - - -
HEE training 14,172 14,172
Other Grants Receivable
< £5k (4,401) - (4,401) 9,675 214 9,889
222,236 2,274,772 2,497,008 263,461 2,074,502 2,337,963
----- End of picture text -----

Income of £128,180 (2023 - £167,189) has been deferred to match the timing of the grant period with the recognition of income. Included in income in note 2 and 3 are grants received from central and local government amounting to £193,465 (2023 - £190,872). There are no unfulfilled conditions or contingencies in relation to these amounts.

4 Other trading activities

4
Other trading activities
Training
Services
Room hire		 Unre-
stricted
Funds
£
85,248
65,566
186,614		 Re-
stricted
Funds
£
-
1,513
7,800
9,313		 Total
2024
£
85,248
67,079
194,414		 Unre-
stricted
Funds
£
84,207
30,494
87,500		 Re-
stricted
Funds
£
-
1,734
-
1,734		 Total
2023
£
84,207
32,218
87,500
337,428 346,741 202,201 203,925

Prepared By Albert Goodman LLP

Page 25

Mind in Somerset Notes to the Financial Statements For the Year Ended 31 March 2024

5 Investment income

----- Start of picture text -----
Unre- Re- Unre- Re-
stricted stricted Total stricted stricted Total
Funds Funds 2024 Funds Funds 2023
£ £ £ £ £ £
Bank interest receivable 14,039 - 14,039 1,271 - 1,271
----- End of picture text -----

6 Direct charitable expenditure

----- Start of picture text -----
Unre- Re- Unre- Re-
stricted stricted Total stricted stricted Total
Funds Funds 2024 Funds Funds 2023
£ £ £ £ £ £
Employment costs 956,738 1,822,933 2,779,671 803,977 1,572,657 2,376,634
Self-employment costs 27,245 33,495 60,740 23,560 41,275 64,835
Project costs 15,354 9,202 24,556 12,814 4,570 17,384
Office costs 197,090 87,609 284,699 176,022 104,002 280,024
Repairs and maintenance 14,801 1,386 16,187 21,991 349 22,340
- -
Depreciation 69,317 69,317 54,988 54,988
Travel and subsistence 28,154 31,437 59,591 35,570 24,819 60,389
Training 31,759 12,336 44,095 9,948 7,975 17,923
Legal and professional 8,489 1,311 9,800 8,199 600 8,799
- -
Contribution to core costs (448,399) 448,399 (362,932) 362,932
Audit fee 8,640 - 8,640 8,160 - 8,160
- -
Accountancy 2,820 2,820 2,640 2,640
912,008 2,448,108 3,360,116 794,937 2,119,179 2,914,116
----- End of picture text -----

7 Wages and salaries

Wages and salaries
Social security costs
Pension costs
Termination payments
Recruitment and other		 2024
£
2,338,382
179,477
146,801
10,492
104,519
2,779,671		 2023
£
2,031,923
155,412
118,632
3,750
66,917
2,376,634

Prepared By Albert Goodman LLP

Page 26

Mind in Somerset Notes to the Financial Statements For the Year Ended 31 March 2024

One individual employee was paid between £60,000 - £70,000. (2023: One individual employee paid between £60,000 - £70,000).

The average number of employees for the year was 126 (2023: 124).

The Chief Executive Officer and the Chief Operating Officer were considered the key management personnel. Total employee benefits of the key management personnel of the Charity were £189,349 (2023 - £137,512).

During the year, total costs of £13,242 were paid in respect of three employees settlements (2023 - £3,500 to two employees). The amounts were full and final with no outstanding amounts at the balance sheet date.

Defined contribution pension scheme

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £146,801 (2023 - £118,632).

Contributions totalling £26,829 (2023 - £20,582) were payable to the scheme at the end of the year and are included in creditors.

8 Net incoming resources before transfers

----- Start of picture text -----
2024 2023
£ £
This is stated after charging:
Depreciation 69,319 54,988
-
Loss / (profit) on disposal of assets (35)
Amounts paid under operating leases 37,383 37,353
Accountants' remuneration - Audit 8,640 8,160
- Accounts 2,820 2,640
----- End of picture text -----

Prepared By Albert Goodman LLP

Page 27

Mind in Somerset Notes to the Financial Statements For the Year Ended 31 March 2024

9 Tangible assets

----- Start of picture text -----
Freehold MIND Shop Furniture
Land & Fixtures & Fixtures &
Buildings Fittings Fittings Total
£ £ £ £
Cost
As at 01.04.2023 525,754 18,140 141,845 685,739
-
Additions 44,293 23,091 67,384
- - -
Disposals
As at 31.03.2024 570,047 18,140 164,936 753,123
Depreciation
As at 01.04.2023 46,232 14,512 91,263 152,007
Charge for year 36,166 3,628 29,525 69,319
- - -
Eliminated on disposal
As at 31.03.2024 82,398 18,140 120,788 221,326
Net book value
As at 31.03.2024 487,649 - 44,148 531,797
As at 31.03.2023 479,522 3,628 50,582 533,732
----- End of picture text -----

Prepared By Albert Goodman LLP

Page 28

M i nd in Somerset Notes to the Financial Statements For the Year Ended 31 March 2024

10 Debtors

----- Start of picture text -----
2024 2023
£ £
Trade debtors 78,094 120,560
Prepayments and accrued income 217,513 81,910
295,607 202,470
----- End of picture text -----

11 Creditors: amounts falling due within one year

----- Start of picture text -----
2024 2023
£ £
Trade creditors 48,116 55,992
Accruals 90,448 108,096
Deferred grant income 128,180 167,189
Other creditors 80,060 67,075
346,804 398,352
----- End of picture text -----

Prepared By Albert Goodman LLP

Page 29

Mind in Somerset Notes to the Financial Statements For the Year Ended 31 March 2024

12 Deferred income

Where grants are received in advance, for a specified period, or funding is received but the charity is unable to recognise the funding as there are conditions that are not in its control, these funds are deferred and recognised in the period to which they relate. Deferred income comprises of:

Deferred income as at 1 April
Released from previous years
Resources deferred in the year
Deferred income as at 31 March		 2024
£
167,189
(167,189)
128,180
128,180		 2023
£
130,943
(130,943)
167,189
167,189
Foyer flat/ office rental
Orange button Scheme
Suicide Bereavement Support Topup funding
DBT, Crisis Assessment, Trauma CBT training
Somerset Connect Champions
Such Project
Wellington Town Council
SCC Asist Suicide Prevention
Items under £5,000		 2024
£
669
-
-
-
55,000
54,465
5,565
-
12,481
128,180		 2023
£
16,552
9,000
12,000
14,172
55,000
54,465
-
5,000

1,000
167,189

Prepared By Albert Goodman LLP

Page 30

Mind in Somerset Notes to the Financial Statements For the Year Ended 31 March 2024

13 Statement of funds

Restricted funds
Together for Mental Health - TTC
Somerset Community Foundation
- Hinkley Point C
- Food & Mood
Mind
- Ukraine Peer Group
- Time to Talk
- Self Supported Health
Taunton Aid in Sickness
Bridging the Gap
Open Mental Health:
- Locality Lead
- Mindline 24/7
- Mindline Plus & Navigator
- Mindline Text & Chat
- After furlough peer work
- Crisis
- Countrywide specialism
- Specialist activity and groups
- Discharge service
- Family safeguarding
- Premises
- Suicide peer prevention
- Winter pressures
- Peripatetic
- SMWS Wellbeing Somerset
- Hearing voices
- Engagement forum
- Community Rehab
- Step Up
- Capacity Payment
- Displaced People
- Mindline
- Text and Chat
- Time to Connect
Somerset County Council
- Connect Community Champions
Street Parish Council Youth Group
Mental Health Empowering Minds
DWP
NGED Community Matters
Wolfson Capital Grant
Other restricted funds
Total restricted funds
Unrestricted funds		 Balance
01.04.23
£
7,384
11,462
2,617
-
-
-
262
575
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
4,048
26,348		 Income
£
-
-
-
-
4,500
60,096
-
-
52,349
828,998
46,230
19,219
5,167
300,967
35,113
106,102
86,763
130,083
31,039
63,177
20,794
85,434
198,926
17,895
19,412
123,967
37,394
(5,703)
26,123
28,968
17,381
8,290
55,000
5,565
9,976
18,659
9,999
32,295
9,269
2,489,447		 Expenditure

£
-
(10,665)
(2,426)
(729)
(2,439)
(58,894)
-
-
(52,378)
(829,515)
(46,352)
(19,085)
(4,810)
(307,520)
(33,832)
(105,129)
(86,761)
(128,632)
(31,039)
(61,506)
(20,796)
(82,654)
(193,391)
(17,982)
(20,226)
(120,416)
(35,894)
(11,800)
(25,319)
(30,354)
(12,423)
(9,816)
(55,001)
(958)
(3,805)
(18,227)
(3,575)
(238)
(3,521)		 Transfers
£
-
(797)
-
729
-
-
-
-
29
517
122
(134)
(357)
6,553
(1,281)
(973)
(2)
(1,451)
-
(1,671)
2
(2,780)
(5,535)
87
814
(3,551)
(1,500)
17,503
(804)
1,386
(4,958)
1,526
1
-
(6,171)
-
-
(32,057)
-		 Balance
31.03.24
£
7,384
-
191
-
2,061
1,202
262
575
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
4,607
-
432
6,424
-
9,796
(2,448,108) (34,753) 32,934
General 932,903 996,418 (912,008) 34,753 1,052,066
Total Funds 959,251 3,485,865
(3,360,116) - 1,085,000

Prepared By Albert Goodman LLP

Page 31

Mind in Somerset Notes to the Financial Statements For the Year Ended 31 March 2024

Statement of funds – prior year

Restricted funds
Together for Mental Health - TTC
Somerset Community Foundation
- Hinkley Point C
- Food & Mood
Mind
- Ukraine Peer Group
Taunton Aid in Sickness
Bridging the Gap
Open Mental Health:
- Locality Lead
- Mindline 24/7
- Mindline Plus & Navigator
- Mindline Text & Chat
- After furlough peer work
- Crisis
- Countrywide specialism
- Specialist activity and groups
- Discharge service
- Family safeguarding
- Underspend 2021
- Suicide peer prevention
- Winter pressures
- Peripatetic
- SMWS Wellbeing Somerset
- Hearing voices Taunton
- Engagement forum
- Capacity Payment
- Time to Connect
Other restricted funds
Total restricted funds
Unrestricted funds		 Balance
01.04.22
£
1,676
46,509
-
-
262
514
(15)
658
(11,525)
-
166
82
4,125
221
1,122
(9,415)
5,606
(4,652)
11,325
407
-
(169)
191
2,858
-
-
3,677
53,623		 Income
£
6,000
(2,371)
5,000
5,000
-
1,596
-
53,402
822,620
47,696
21,981
6,377
336,724
68,567
109,631
100,327
106,607
-
61,066
12,149
65,854
204,431
20,452
17,954
11,800
8,000
962
2,091,825		 Expenditure
£
(292)
(32,676)
(2,383)
(5,000)
-
(1,535)
-
(54,635)
(822,620)
(47,696)
(21,981)
(6,377)
(336,724)
(68,567)
(109,631)
(100,327)
(106,607)
-
(61,066)
(12,149)
(65,854)
(204,262)
(20,452)
(17,954)
(11,800)
(8,000)
(591)
(2,119,179)		 Transfers
£
-
-
-
-
-
-
15
575
11,525
-
(166)
(82)
(4,125)
(221)
(1,122)
9,415
(5,606)
4,652
(11,325)
(407)
-
-
(191)
(2,858)
-
-
-		 Balance
31.03.23
£
7,384
11,462
2,617
-
262
575
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
4,048
79 26,348
General 925,102 802,817 (794,937) (79) 932,903
Total Funds 978,725 2,894,642 (2,914,116)
- 959,251

The purpose and use of material restricted funds are as follows:-

Prepared By Albert Goodman LLP

Page 32

Mind in Somerset Notes to the Financial Statements For the Year Ended 31 March 2024

Prepared By Albert Goodman LLP

Page 33

Mind in Somerset Notes to the Financial Statements For the Year Ended 31 March 2024

14 Analysis of net assets between funds

Tangible assets
Net current assets		 Unre-
stricted
Funds
£
531,797
520,269		 Re-
stricted
Funds
£
-
32,934		 Total
2024
£
531,797
553,203		 Unre-
stricted
Funds
£
533,732
399,171		 Re-
stricted
Funds
£
-
26,348		 Total
2023
£
533,732
425,519
1,052,066 32,934 1,085,000 932,903 26,348 959,251

15 Related party transactions

No remuneration or expenses have been paid to trustees during the year (2023 – none). There were no other related party transactions requiring disclosure.

Prepared By Albert Goodman LLP

Page 34

Mind in Somerset Notes to the Financial Statements For the Year Ended 31 March 2024

16 Company limited by guarantee

The company was incorporated as a company limited by guarantee and has no share capital. The guarantee to the company is £10 per member on the winding up of the company. At 31 March 2024 the company had ten members and the total amount guaranteed was therefore £100.

17 Events after the balance sheet date

Since the year end, the charity has contracted to purchase a property in Taunton, for £325,000.

18 Commitments under operating leases

At 31 March 2024 the company had commitments under non-cancellable operating leases as follows:

----- Start of picture text -----
Land and buildings
2024 2023
£ £
Expiry date:
Within one year 19,000 19,000
- -
Between two and five years
19,000 19,000
Other
2024 2023
£ £
Expiry date:
Within one year 24,738 13,089
Between two and five years 38,463 1,361
63,201 14,450
----- End of picture text -----

Prepared By Albert Goodman LLP

Page 35