Hertfordshire Network Charity Registralion No. 1112487 Company Re9iStrntion No. 5532977 (Éngland and Wales HERTS MIND NEfwoRK UMtrED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 •AC8A8QIE* A18 2Y0712023 COk*ANIES H¢WSE #59 HERTS MIND NETWORK UMrrED LEGAL AND ADMINISTRATIVE INFORMATION Btsard Of Dirertors Jess LieVes1￿ {Chair) Erika Linhares de Paula (Wice Chair) Elena Lokteva (Treasure RitLb Sharma IBoard Secretary) Siobhan Nundram Helena Marks-Dvryer Will Lewis Mark Craigen Omar Daniels Thalia-Rose Carter Luke Oonovan-Kir4J Tracey Carter Lauren Schog9er IAs50ciate Oirectorl Bhavdeep Oberoi IAss¢xiate Director) {Resigned 16 Augwst 20221 {Re5igned 16 August 20221 (Appoirnied S October 20221 (Appointed 5 October 20221 (Appointed 5 October 20221 (Appointed 5 October 20221 (Appointed 5 October 20221 Kèy management personnel Joanna Marovitch- Chief Executive Hilary Lythgoe Carys Norman Danielle Lw Clarè Rennett Alex Hunter {Resigned 29 November 20221 Charity number Cornpany nuffl￿r 1112487 5532977 RÈgi5tered offire 501 St Albans Road Watford Herts W024 7RZ Auditor frAyers Clark Chartered ACc￿ntants Egale I 80 St Abans Road Watford WD17 IDL Bankers CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Mallin9 Kent ME194JQ Solidtors SALawLLP 60 London Road Si Mbans erts AU ING HERTS MIND NEfwoRK UMtrED CONTENTS Page ststernent of direct¢)rs' re$F￿nSibilitieS Directors, report 2-11 Independent auditorfs report 12-14 Statement of financial activities 15 Balance sheet 16 Statement of cash flows 17 Notes to the financial statements 18-34 Appendix 35-36 HERTS MIND NETWORK UMITED STATEMENT OF DIREcfoRS' RESPONSIBILMES FOR THE YEAR EIVDED 31 MARCH2023 The Board of ￿"rectOr* who are also the directors of Herts MiThl Network Limited for the purpose of company law, are responsible for preparing the Directors, Report and the financial statements in accordance with applicable law and Uniled Kingdom Accounting Standards (United Kingdom Generalty Accepted Accounting Practice). Company Law requires the Board of DiTertors to prepare financial statements for each financial year whieh give a true and fair view of the state of affair5 of the charitable company and of the incoming ￿SoUrceS and application of resovrces. including the income and expenditure. ol the Char[tab￿ company for that year. In preparing these financial statements, the Board of Direciors a￿ required to.. - select suitable accounting policies and then appty them con5i5tenty, - observe the methods'and principlès in the Charities SORP. rnakeiudgements and estimates that are reasonable and pnJdenL state whether applicable UK Accwnting Standards have been followed. subject to any material dep3rture5 disclo￿ and explained in thÈ finarKial ￿aternit and prepare the financial statements on the going concem ba%s unless it is inappropriate to presume that the charitable c¢mpany will continue in operati￿. The Board of Directors are responsible for keepirbg adequ31e accounting records that disclose with reasonablè accuracy at any time the financial position of the charitable company ènd enable them to ensure that the financial statements compty wrth the Companies Att 2(XJ6. They are also responsible for safeguardin9 the assets of the charitsble company and hence for takiry reasonable sieps for the prevention and detertion of fraud and other irregularitits. In so far as the director5 are aware.. there is no relevant audit information of which the charitsble company's auditor is unawafe,. and thè directors have taken all steps that they ought to have taken to make themselves aware of any relevant udit information and to establish that the auditor is aware of ihat information. HERTS MIND NETWORK UMrrED DIREcfoRS' REPORT FOR THE YEAR ENDED 31 MARCH2023 The Board of Directots present their annual ￿pOrt and financial statements for the year ended 31 March 2023. The financial statements have been prepared in accordance with the accounting policies set out in note I to the financial statements and comply with the charitable company's goveming documenL the Companies Act 2006 ènd "A¢covnting and Reporting by Charities.. Ststement of Recommended Practice applicable to charities prèparing their accounts in ac¢ord•rKe with the Financial Reporting Standard applicable in thè UK and Republic ol Ireland ISORP FRS 1021 leffect￿t l January 20191". GOVERNANCE.. CONSTITUTION. sTrucfuRE AND MANAGEMENT OF THE CHARirY Herts Mind Ne￿Ork Ltd 1.the Chari￿1 is a company limited by guarnntee having been registered in August 2C4)5 under the name of Mind in Dacorum Ltd (name change in Au9USt 2(M)7). As a re9iStered charity. it is governed by its Memorandum and Articles of Associalion and the trust deed utk%er W￿"(h it was originally set up. The Charity began operating as a company limited by guarantee on l April 2￿6. The Board of Direttors i-lhe Boardl comprises twelve people includirg a proportion of users of mental health setvices. Recruitment 10 the board takes pLice periodKally a5 needed, and anyone from the community can apply for these roles. Nomination of candidates foi election to the Board is open to the whole membership, and ballot is held annually at the AGM to elect those who wsh to stand for Officer posts. Members wishing to be onsidered for electjon to the Board are able to approach an Officer during the year for a discussion of the roles and re5pon5ibilitie5 Of a Director. Following thi5 di5CUS5ion. the member may be introduced to the Boa¥d and observe a number of board meetings. The member may then be co-opted onto the Board in the interyening period belore the fie￿ AGM where they v•ill be forma15y appointed by the membership. Job descriptions exist for each OfFicer positioTh and a fLtII briefing is gNen abovt the roles and iesponsibilities when a Director is first appointed. Ongoing training is given to Directors as and vthen required. The Dirertors are responsible for all operational decisions tsken by the Charity, including allocation of resourcès in pursuit of its charitable objethves although some of these decisions are devolved to the Chief Executive and the senior members of staff. A Delegation of Authority document ext5ts in re]aiion to those areas where decision-making has been devofved to staff. for example in relation to ordering of goods and seryices. The Charity works in partnership wth other organisations including Mind in Mid Herts, AGE UK and HPFf where th¢s is ihè most èffective way to providè services across the county. rhe Charity h•J a subsidiary compaw, Herts Business Mind Ltd, but this company was dissolved on 10 May 2022. FINANaAL MANAGEMENT AND CONTROL During thi5 tsvefv*month period (April 2022- March 20231, the Charity has undertaken a wide range of activities in pursuit of ils chariiable objectives. To help mènage these artivitie% arbnu31 bud9et5 for the following year a prepared. presented to and agieed by the Board. To support the f5nancial Te9ime, clèarly wittten policies about what activities will be funded and how. have been prepared and communicated to all involved. The Board receives monthty management accounts reporting on the financkil performance and position of the organisation. These are presented to the Board and Compa￿ updated forecasts for the expected year-end position in the light of performance in the year to date, compared to budget The Board is presented wtth a narrative provided by the Treasurer aThJ focuses on reasons forvariation from budget. GOING CONCERN The Directois have a responSi￿'11ty to make sure that the Charity.continues in existence lof the foreseeable futu lat leasi 12 months from signin9 these accounts) and to do so thty havè to be sure that they a￿ayS have suflicient funds not only to pay the Charity's bills as they fall duè but also to fund commitments to future capitsl expendilufe. This is known as being a"90ing concem" The Charity's review of Going Concem was extensNe and extended to 'stress testing, for the direu financial impact of an increased cost of living and inflation. Thè tyjtcome of these review5 Show that these events w<¥Jld be challenging for the Charity but in the Dirertor5 opinion would not compromise ihe ChariW5 ability to continue a5 a Going Concern. HERTS MIND NEfwoRK UMITED DIREcfoRS' REPORT FOR THE Y￿R ENDED 31 MARCH2023 RISK MANAGEMÉNT Attention continues to be given to the major strategic, busines5 and tiyrational risks which the Charity faces. and believes thai maintainin9 adequate levels of reserves. combined with an annual rewew of contiols over key financial systems, will provide sufficient resources in the event of adverse conditions. To attend to risk managemenL the D1￿CtOrS have PrePa￿d and wularty re￿eW an organisaiional risk management policy. A￿aS of risk have been broken down with responsibilty for each section allocated to individual Direclors or members of the senior managernent team. Some of the key risks that the Charity has included in its policy are.. ri5k5 ver reliance on a sin le funder ompetition for contracts and tende Plans to man e ihe risks ncrease the number of non-staluto fvnders nsure that we c¥eate service models that aTe ffective. competitive. innovative and responsive to ocal need. nsure that our ￿ system is robust and meets the eeds of a rowin or nisation. C ber securi aintain and develop collaborativè. honest and ffective commissioner relationships by éeliverin9 igh quality seryices that meet the needs of our local ommunities. ork with ConsU￿ants, ensure all staff art awarè of ndividual responsibilitie5 and repvrting. comply with islation and r ulations ollow legal advice. Implement and adhere to olicies. stsff trainin wareness of chan es in ovemment ocus on staff wellbein9. Ensure good trainin9 and evelopment opportunities. Recfuiiment review in ro ress Sy5tem5 and cybef crime Relationship with funders Healt￿ Safety and the Enwronment 0551 misuse personal data taff recruitment CHARMES AND PUBUC BENEFrr The Dirertors of HMN have ￿ad the guidance issued by the Charity Commission for England and Wales on 'Charitie5 and Public Benefif. The Oirectors confirm that the objects of the charw fulty comply this guidance and further information is set out below. RESERVES POUCY The Directors ensurè that reseryes are maintained at a level that enab￿ the Charity to meet its ongoing obli9ations as well as rnanaging financial risk and fluctuating Income, as it seeks to rnaintain existing charitable activities and develop new ones. Transfers are made from reslricted fvnds to iJnre5trirted fund5 to cover thè agreed contribution to their general running costs. The Directors have determined that unrestricted reserves amounting to at least £650,000 should be maintained to enable the Charity to cover the costs of on-going obligations in the event that the Charity can no longer 5UPPOrt its Service offerings or contrarted services cease. This amount is considered to address committed costs for a ran9e of items lor a period of three months. This level of reserves enables the Charity to fund working capital requirements, retain experienced staff durin9 short term funding gaps and acquire fixed assets to be used over a number of year& Thi5 level will be revièwed annual￿ to ensure it is still appropriate. The Charity maintains fijnds in longer term investment accwnts where such furKls are rK)t required for day io day activities. This provides security to the orgar¥sation arKI provides some additK•nal interest retu HERTS MIND NEfwoRK UMITED DIRECTORS. REPORT FOR THE YEAR ENDED 31 MARCH2023 FINANCIAL posmoN ring the year ended 31st March 2023. totsl income was £4,389,￿212022.. £3,093,082), and total expenditure was £4.190,773 12022.. £3,011,314). The reseryes of the Charity in(￿aSed by £193.129. FUNDPAJSING The majority of HMN'S income is defNed from contracts and grants. The organisation also receive5 income from social enterprises detailed below, donations and legacies. Therè are static collection boxe5 at various locatTrons in Hertfordshire and the ability for people to donate to and organise fundraising events in sUPPQrt of us wa our We￿te and through a Herts Mind Nets￿rk Just Giwng page. There is conNnercial fundraising actNty directy to the publ VISION. PURPOSE AND VALUES Our vision Our purpose l. We fight forth* m*ntsl health of ewory petson in Hertl0th1￿. . We provide m•ntal health s•Jprt opportynity. ad¥ocary and resource We will elevate and promr•te thevoice of those with lived oxpeli￿ of mental 11 HERTS MIND NEfwoRK UMrrED DIREcfoRS' REPORT FOR THE YEAR ENDED 31 MARCH 2023 Our value5 Hope WÈ b¢￿ve IA WlteAtiaL possiblity and opwtunity. We embrnce a culture of cvriosity and sustsinataity. We believe rn thoice. freedonK th•rge and a better future fof èvery person èxperiènciry mental ill ￿aIt Courage We afe d¢t¢rftur*d. ar*d vn5topp*le. W¢ ttarffwnatth)n and inftovatiorL •thocate for impto¥*mert and itiflueKe thaAge in Hertr0￿5hVe's mental health systefft We are Rsiient and speek lo¥diy in face of ad*fsity ènd iwuality, arKFi¥• fig￿ tireltssty fth mentsi h¢•ti Together CoprodveÈion is et hea¥r or our wgani5atM Tooetherwe shate l*amir43. buAd reItt￿?nshrps arKI CON*rt V*ith othef& We partJ*tship Ikith inrfi¥idwlx 749Luntsry sertsy Ind statutory serYTce% lo¢al ¢ryantsatioAs ar •mpanies. to gerwète new idea5 and prornte incbxK>n an6d5versityand better ￿￿￿e{stAndIn9 oFrnent£l heavth auoss ourcrnuThty. Responsive W• are open and tl•fyarenL W• tsk• tim* to list*bK trtr lear￿ to Share •wJ tg act We adjust to cheThJe. tÈmety deusw)ns orKI are both respe¢tfuiand ¥KlusNe. HERTS MIND NETWORK UMrrED DIREcfoRS' REPORT FOR fHE YEAR ENDED 31 MARCH2023 REPORT ON PIUNapAL AcrivrriES We provide essential mental health support in Hertfordshire. providiNJ a diverse range of services from our seven Wellbeing Centres and other venues a£ios5 all len districts of the county. Funded localty. our serrices are available to all residents in Hertfordshire overthe age of 18 and we offer dedicated seNices for 5-18 year olds. We create opportunities for individuals experie￿Ing mèntal ill health to makè choicei hnd their solutions, build Tesilience and manage their whole life and wellbeing. OUT services aTe based on the principle of self-help with a strong emphasis on prevention, personal developmenL self-managemeni and improving health and wellbeing. We provide opportunities for individuals to access support to enable them to recover from Of live with mental ill health. Our services are grouped in thè following arèas". l. Crisis Interveniion 2. Complex Needs 3. Peer Support 4. Wellbeing and Counselling 5. Training and Education We have continued to develop the Nlghlllght countyvide out of hourfs mental health crisrs service durirg this linancial year. The centres provide a safe, homety and welcoming space for people who are feeling distressed and experiencing a crisis. Each Cent￿ is staffed by a team of skilled and experienced non-clinical mental health workers, many of whom have a lived experience of mental ill heatth. Our Nl9hilight Crisis Helpline team is open from 7pm to lam. every day of the year. Our Nlghilight Crisis Cafés are open every day from 7pm- lam and are based in Stevenage, WatFord and Ware. The Stevenage Crisis café opened during this finanoal year and has proved to be our busiest Café. Our Nigthli9ht Crisis House is in Hemel Hempstead a￿1 has four l>ed spa￿$ that can be used if an ovemight stay would help an indNidual to resofve their crisis. The beds are available Id•pending on capacity) seven days a weel 365 days a year. These beds are available lor all Hertfordshirè iesidents. In somè circumstances ovemight stays may be discussed and a9reed with the Crisis Resolution Home Treatment Team. All ovemight stays are reviewed daily. however. in most cases we envisage individuals VAII stay up to 3 nights. This is assessed and agreed on an individual basi5. The A8ÉE Crisis Liaison S*r¥i<• is delivered in partnership vlith Mind in MMI Herts to provide support to Lister and Watford General Hospital A&E staff to impfove crisis care pathways for adults who a￿ experiencing a mental health crisis. Our A&E knnk Workers support adults to access alternatwe mental health crisis suppo¢ including our Nightlight Crisis.Service, particularfy where it will be helphjl for the indiwdual to leave the hospital setting and be welcomed into a calmer. quieter enwronment. Daylr9ht provides communty outreach crisis support to individuals aged 18 or over across Hertfordshire. Through groups and one-to-one supporL our Daylight workers support Individuals for an average of4-8 weeks, facilitating access to community support to help indNiduals manage their mental health crisis within the community. With the expansion of the Crisis House to 2417 in 2022-23, our Da￿1ght Workers are based here. HERTS MIND NETWORK UMtrED DIREcfoRS' REPORT FOR THE YEAR EIVDED 31 MARCH2023 REPORT ON PRNapAL AcfivrnES {CONTINUED) 2. Complex Needs We are experienced providers of complex need5 services within the county. Our Community Support Services provide advice, informatiorn onward referral and holistic support to people who are expefiencing mentsl ill-heahh or need help wth their mental wellbeing. These teams provide one-to-one outreach support in a variety of areas such as.. emotional and practical support." housing need." benefits,. access io seThites,' signposting,. help to reduce episodes of crisis and LNJildiNJ life skills. In Three lknvers we also provide intensive support for people experiencing domestic abuse Our Stepping Stones service was rernodelled and renamed during 2022-23. The n￿Y named Bounce Back seThice forrns an inte9ial part of Hertfordshire Mind Nelw<>rk's14MNI Comrnunity knice5. providing one-to-one outreach support to lacilitste a Smooth, tirnety and supportNe discharge from hospital back into the community. During this financial yeaf this service has expanded to provide 5UPFM)rt within Kingfisher Courl ￿banY Lod9e. Lister Hospitsl and Watford General A&E. Our counwide Flourish setvice is here to prowde adwce. infonnation. onward referral and holistic support to refugees and asylum seekers who are experiencing challenge5 that are imparting their mental health. The seNice pr¢)vides person-centred one-to-one 5UPPOrt to help indiwduals settle in the UK. It is available to those aged 16 and above. offering up to ten sessions of holistic supporL The Housing Svpport Service is here to provide housing advice. inf0m￿ty"0n, representstions, omvard referral and holistlc 5UPPOrt to people who aTe experiencing mental ill-health or who need help with their mental wellbeing and housing Issues. Our Complex Neèds Housing SL)rvi¢• prowdes advKe, inforrnatiorn onwaid refèrral and IKJlistic support to people who are experiencing mental Ill health or need support with their mental wellbeing. The service is for clients who are presenting to the housing teams a5 homeless at Districi and Borough councils. We work alongsiée the person to develop a tailored package of support that meels their needs working wth them to find. the 501utions that are right for them. The Dom*stic Abus* Ser¥i¢e is now available across the county. Our Oorne5tic Abuse Caseworker can prowde 5UPPOrt to anyone over the age of 18 who is experiencing doffle5tic abuse. We deliver an easy-to-èccess, high qLtality service, providing a range of support, based on the needs and ￿$he5 ol the individual. We will listen wiihoutiudgement and wll help the person to explore their option5 and make their own choice5, tsking artions at a pace that is right for them. We can also help indwiduals to access alternative accomrTK)datior4 safety planning and access to health tare if needed. Our Primary Care Network Service 15 here to prowde advice. information, onward referral and holi5tiC SUPPOrt to individua15 who are experienthng mentsl ill heahh and would like to access 6-10 sessions ol tailored one-io-one support to improve their wellbeing. The team WO￿ ch)sety v•ith local GP practices. ensuring that indNiduals can access the support that is right for the 3. Peer Support Our CountyW￿e P¢er Support SeThice offers flexible support for adutrs experierKirwJ mental ill heatth and ihose that care foi and support them. The service is staffed by a team of Peer Support workers vtho have a INed experience of mental ill health and will work in collaboration with clients to develop an individualty-talored package of support that meeis their needs. Through providing safe and ac￿ptIng 1."1 suppoo Peer Support Groups arKI Peer Leaming Coutses, the service enables clients to explore their strengths ar￿ resources and find 501utions. We also pfovide a Peer Mentoring Servicé. This semce ts staffed by trained volunteers who offer up to 12 sessions of person.centred one-tO•one support. voluntee￿ prowde emotional and Prnttical support and can do so lace-to-face, by phone or on Zoom. HERTS MIND NEfwoRK UMITED DIRECTORS. REPORT FOR THE YEAR ENDED 31 MARCH2023 REPORT ON PRINCIPAL ACnVTfiES (CONnNUED) 4. Wellbeing aftd Cwnselling A major part of our service provision focuses on prevention. acce55 to earty help and improving health and wellbeing both physicalty and emotionalty. Support lor Car*$ is a key part of our prevention strategy and we offer Peer &Jpport groups, counselling and a range of other prowsion such as pottery. yoga and self-supportirg Art Our Wellbeing Centres and services are supported and enhanced by a large team of skllled and committed volunteer& The support of our vdunteers is invaluable and we wouldn'i be able to provide all of the seNces that we do without their help. Foi many volunteer5 their role also provides a stepping 5ton• bèck to leaming. training andl or employment We have continued to develop our groups arKI activr(ies throughout this period. We now now have 28 week groups across the county. includir¥J Meetin9 Placs Drama. Art Music and LGBTQ+ group We offer a wide variety of VO￿lb1*￿rin9 Opportunities and strongty encourage our clTrents to engage in the training to find a placement wiihin the organi5ation. Meaningful occupation is accepted as the basis of recovery and community inclusion. Clients often use the training and work experience as the lirst step to employment working initially a few h¢)urs a week and building confidence and skills in the process. Our Wellbeing At(tss WoTktfS piomote our HMN servlces and support access 10 Statutory seThi￿$ through our partnership with Hertfordshire Partnership NHS University Foundation Trust. This redvces barriers to accessing Hertfordshire Mind Nehvork and Well￿1n9 Sernice seMces/ promoting awareness of mental health and support services available to residents of Hertfordshl￿. Our respecled Counselling Servicè is available at all our Wellbeing Centres. Our counselling team consists of experienced and placement counsellor5 who use a client-centred approach. We provide a supportive and confidential service and offer up to 10 counselling sessions. Anyone can make a referrnl to this seNce aThJ we are able to offer reduced fees to clients and operate a sliding Kale from £40-£10. Our LAPT Counselling Service has a team of experienced LAOT counselk)rs who can provKSe eight f￿e se$5ions of one-to-one covnselling, giving individuals a weekly space to reflert on their experiences in a safe and confidential enviionrnenL Referrals can be made by GP'S for Hertfordshire residents who are 16 and above. Our open access Wlth Youth seNice prowdts online support to chIld￿n and young people experiencing mental ill health andlof emotional distress. This is a countywide seryice available for any Hertfordshire resident aged 5- 18, as well as parents, cwerx and professional& The service helps children and young people to build resilience by working with them lo problem sofve and dèvelop toping strategies coming up wth solutions thal will enable them to improve their own health and wellbeing. We will also prowde advice and guidance to parentsifamilieslcarers and profèssionals to ensure a holistic response to svpporting the indi¥i(hJal and creating a network around them to empowef and enable positive change. As part of this seMc¢ we have partnered wilh BFB Labs to offer Young People xross Hertfoldshire fre¢ instsnt access to Lumi Nova.. Tales of Courage. a digital therapy delNered through a lun and engaging mobile game to help 7-12 years olds learn how to manage and reduce symptoms ol anxiety. Spot the Sign$ 8¢ Emotional Wellbeing Campaign Is a fully-fvnded programme offering training and workshops to children and young people ICYPI. CYWS parents/carers and professionals working with CYP. The programme provides psychoeducation. emotional resilience and signposting SUPPOrt to empower young people and the adults around them to feel confident enough to manage their mental and emotional health. Thi5 work is an integral offer within Hertfordshire's Suicide Prevention Strategy. Our new creative wellbeing space, SPARK launched. supporting 11-18 year olds to use crèative strategies to support and manage their mental health and emot¢on31 wellbeing. Jack* has Autism and Struggles to tslk to new people, make friends and communicate with their parents ar¢)vnd their gender. HERTS MIND NETWORK UMITED DIREcfoRS' REPORT FOR fHE Y£4R ENDED 31 AIARCH2023 REPORT ON PRwapAL AcnvmES (CONTINUED) 4. Wellbeing and Counselbng ( prevention of ltsng iem mental health condilions. • increase in awareness of mental health and mental hll-heath. HMN'S clients have provided some fantsstic feedback. With Youth -Thank you so ffl￿h for the app you have crtatsd for young people. I have tvm children in the a9È bracket for this app and l>oth stru991* at times as young carw5 fov their Dad vtho has PTSD from his time in the military. They have bolh realty enjoyed the app and used it to work through specific anxieties they have. There's so little for ¢hildren and thi$ 9ives a fvn and inter•¢iive way lo Proce￿ emotion& thanks $0 muth for your help w•ih my for the year then ended,. have been properly Pfepared in accordance wth United Kingdom Generalty Accepted Accounting Practice,. and have been prepared in accordance with the requirements of the Companies Act 2006. Bas1$ for oplnlofi We conducted our avdit in accordance with Internattonal Standards on Auditing IUK) (ISAS IUK)} and applicable law. Our responsibilitie5 under those Standards are fijrther described in the Auditors TrSwnsi￿I￿f￿s rfor the audit of the financial statements section of our reF)ort We are independent of the charitsble company in accordancè 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 fullilled our other ethical responsibililies in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and apwopriaie to Pfowde a basis lor our opinion. Concluslons relatlng to goln9 Cl)IKern In auditing the financial ststements. we have concluded that the directOfS' use of the going concern basis of accounting in the preparation of the financial slaterrents is appropriate. 8a5ed on the work we have perfomed. we have not idenlified any mèterial urKertainties relating to events or conditions that. individualty or collectivety. may cast srgnificant doubt on the charitable Company's ability to continue as a going concern for a period of at least twdve months Irom when the financial statements are authorised for issue. Our r•5ponsibilitiès and thè respjnsibilitiès of thè Board of Directors with re5pert to 9osng concern are dèstiibtd in the relèvant sections of this report. Other inforniation Th* other information comprises the information included in the annual report other than the financial 5taièments and our auditor's report thereon. The Board of Oirectors are responsib￿ for the other information Contain￿ within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any forni of assuiance conclusion thereon. Our responsibility ts to read the other information and, in doing $0, consider whether the othei information Is materially incon5iStent with the financial statements or our knowledge obtained in the course of the avdit. Of Otherwise appears to be materialty misstated. If we identify such material inconsistencies or apparent material misststements, we are required to determine whether thi5 gives rise to a material misstaternent in the financial statements themselves. If. based on the work we have performed. we conclude that there is a material misststement of this other infofmation, we a￿ required to report that fact. We have nothing to report in this regard. Opinions on other mattets prescribed by th* Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit the information given in the tNstees' report which Ir￿udeS the directors. report prepared for the purposes ol company law, for the financial year for which the financial statements are prepared is consistent with the financial statements.. and the dire(tOfS' report included wthin the irustees. re￿ h*$ been prepared in accordance with applicable legal requirements. 12- HERTS MIND NETWORK UMrrED INDEPENDENT AUDrroR'S REPORT ICONTINUED) TO THE BOARD OF DIREcfoRS OF HERTS MIND NETWORK UMrrED Mattets on which w* arè required lo r*ptsrt by èxttyti¢)n In the light of the knowledge and understanding of the company and its en￿ronment obtained in the course of the audit, we have not identified material misstatements in the diTe(tors' rep)rt incIL￿ed within the trustees. report. We have nothing to report in respect of the folkwling matters in relation to which the Companies Act 2(X)6 and Cha¥ities (Accounts and Report51 Regulations 2C4)8 require us to report to you if. in our opinior)". the infoimation given in the financial statements is intonssstent in any material respect wth the d1￿ctorS, reporL or sufficient accounting records have not been kepl or the financial statements are noi in agreement wtih the accounting record& or we have not receNed all the infonmation and explanations we require for our audit. R•sponsibilities of Board of Direrto As explained more fully in the staiement of directors. responsibilities, Board of Directors, w￿) are alg) the directors of the charitable company for the purpose of company law. are ￿spOnSible for the preparation of the financial statements and for being satirfied that they give a true and fair view. and for such inlemal control as the Board of Directofs determine 15 n￿essary to enable the preparation of financial statement5 that are free from material misstatemeni, whether due to fraud or error. In preparing the financial statemtnts, the Board of Directors are responsible for assessing the charirable company's ability to continue as a going concern. disclosing. as applicable, matters related to going concern and using the going concern basis ol accounting unless the Board of Dirertors either intend to liquidate the charitable company or to cease operations. or hove no realistic alternative but to do 50. Auditor'5 responsibilitie5 for the audit of the financial ststements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our obj'ectives are to obtsin reasonable assurance about whether the financial statements as a whole are free from rnaterial misstatement, whether due to frayd or error, an¢J io issue an auditorfs report that includes our opinion. Reasonable assurancè is a high level of assurance bLrt is not a guarantee that an audr( condurted in accordJn¢è with ISAS (UK) will always detect 3 material missiatement when il exists. Mi55taternents on arise from fraud or error and are conSide￿d matelial if. indtvidualty or in the ag9regate. they ciyJW reasonably be expected to influence the economic decisions of vsers taken on the basis of these financial statements. The extent to which our procedu￿5 a￿ capable of detecting irre9ularitie4 including fraud. is detsiled below. Tht txttnt to whi The statement of financial activities also complies %wth the requirements for an income and expenditure account under the Companie5 Act 2006. 15- HERTS MIND NEfwoRK UMITED BALANCE SHEEr ASA T31 MARCH2023 2023 2022 Notes Fixed assets Inian9ible assets Tangible assets 12 13 84.703 91.372 13,491 70,845 176.075 84,336 Curyent assets Debtors Cash at bank and in har 14 L175,746 L355.021 800,971 85L793 2.530.767 L65Z764 Creditors: amounts failww due within one year 15 11,917.9351 IL141.322} Net current assets 612.832 511.442 Totsl assets less current liabilltl•s 788.907 595,778 Income futyds Restricted funds Un¥estricted funds 17 18 493.538 295,369 154,S28 441,250 788.9)7 595.778 The company 15 entitled to the exemptiors from the audtt requirement contsined in section 477 of the Companies Act 2006, for the year el￿ed 31 March 2023. although an audit has been carried out under section 144 of the Charities Act 2011. The members havè not required the company to obtsin an audit of its financial statements under the requirements of the Companies Act 2(￿76, for the year in question in accordance wth section 476. These financial statements have been prepared in accordance wth the pmmsions applicable to companies subjeci to the small companies regime. The financial staiements were approv Of Dir ors on Elena Lokteva ffreasurer) Dire(tor Jes5 Lievesky (Chairl Direc¢r+r Company Reglstratlon No. 5532971 16- HERTS MIND NETWORK UMrrED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH2023 2023 2022 Notes Cash flows Irom operat•ng activitie5 Cash generated from operations 627.395 138,770 Imiestin9 adivilies Purchase of intangible assets Purchase of tangible fixed assets 183.4901 {40.677) {13,8871 {25,0361 N•t c•sh used in investing adi¥itlts 1124.167) 138,9231 Net cash used in financiry artivibes Net in¢rease in cash and ¢ash equi¥4lents 503.228 99,847 Cash and cash equNalents at beginning of year 851.793 751,946 Cash and cash tguivalents ai end of year 1.355.021 851,793 17- HERTS MIND NETWORK UMrrED NOTES TO THE FINANaAL STATEMENTS FOR THE YEAR ENDED 31 MARCH2023 A¢￿U￿tIng poliiie5 Charity information Herts Mind Nefv4ork Limited is a private company Iimrted by guarantee in¢orporated in England and Wales. The regi51ered offjce is 501 St Albans Road. Warford. Hert& WD24 7AZ Ll Accounting convenlion The hnancial statements have been prepared in accordance with the charitable company's goveming document, the Companies Act 2006 and "Accounting and Reporting by Charitie& Statement of Rècommended Practite applicable to charitie5 preparing their accounts in accordance with the Financial Reportin9 Standaid applicable in the UK and Republic ol Ireland (SORP FRS 1021 leffective I january 2019}" The charitable company is a Public Benefit Entity as defined by FRS 102. The financial statement5 are prepared in slerling wFMch is the futKtional currency of the charitable company. Monetèry amounts in thesè financial statements are rcyJThJed to the nearest L The financial statements have been prepared under the historical cost conventiorn Imodified to include the revaluation of freehold p¥operties ènd to include investment properties and certain financial instrvments al fair valuel. The principal accounting policies adopted are set out below. 12 Golng concern At the time of appfoving the financial statement& the Board of Dirertor5 have a reasonab￿ expectation that the charitable company has adequate resources to coniinuè in 0￿ratIonal Èxistencè for thè foreseeable future. Thus the Board of Directors continve to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the Board of Directors in furtherance of their charitable obje(tive& Restricted funds are subject to specific condttions by donors as to how they may be used. The purposes and uses of the restricted fvnds are set out in the notes to the financial statements. 1.4 Inwme Incomè is recognised when the Charitab￿ company ss legalty entitled to it after any performance conditions have been met the amount5 can be measured reliabty. and it is probable that income will be received_ Cash donaiions are recognised on receipt (Xher donations are reco9nised once the charitable company has been notified of thè donaiion, unless perfomance conditions require deferral of the amount. Income tax recoverable in relation to donations received urmler Gift Aid of deeds of covenant is recognised at the time of the donation. Legacies are recognised on weipt or othev44ise rf the Charitab￿ company has been notified of an impending distribution, the amount is knowrn and receipt is expected. If the amount is not known. the legacy IS treated a5 a tontin9ent asset. 18- HERTS MIND NETWORK UMrrED NOTES TO THE FINANaAL STATEMENTS (CONTINUED) FOR fHE YEAR EJVDED 31 MARCH 2023 A T¥t41 2027 2023 5tth rosts (hheT 5tallc<>st5 Extemal FacdJ¢*ors 524.499 18.191 L541 1041617 8Q551 a501 99.533 13fj9.￿7 13,895 448.511 10.312 3.320 3L 144.694 I￿5￿2 130.247 IA515 9.213 3Q509 102.042 26S.451 423 270 625 231 49.369 353 21 2.345 Recruitwent Tra¥ 24.154 47.983 IL* a).u51 Lir 687M9 W615 Ll71353 IIQI47 IW6.940 2.141028 Sharèof support Costs tsee note8) Sh¥eolgovemancec05ts (see rthell fJA95 2&387 2131S io(v* 715.484 ia&oii 12.310 96S,518 218.315 716.OY6 153.1 4LnB 981458 787.9LL 2610S9 IOX848 L32.497 4.190.773 3.011.314 by1￿￿ Unrestnctod tund5 Re5tyided lunds Ii(&OSD 91&798 83.547 419S0 L189.597 981281 3.ty)1.176 2.030,03> 981458 787.911 2610S9 98145B 787.9ll 261059 Im4.848 132.497 4.190.TT3 3.QII,3I4 HERTS MIND NEfwoRK ￿M￿ED NOTES TO THE FINANCIAL STATEMENTS ICONnNUEDI FOR TH£ Y£4REND£D31 MARCH2023 F0rth•Y•4r*￿4￿ 31 2•22 Corn￿•x Totsl 2022 ar crf Staff cD5t5 herstsff costs External Fa¢tht*4tS 711n 7J16 170.188 IW.340 491985 1.563.502 i2a247 LS,SIS 9,213 30,509 102,042 1655 nS412) .514 6.779 1&586 30.534 338 11025 10.178 47313 46 9.775 Trèv 19)7 19.633 2,655 25&943 951685 205.718 65B.LW 2.142,028 Share of SUPPfftc05151soerK>le 11 s￿r@ol gLvernI￿*i￿s￿sIs8e nQtt• 14.7241 5.031 19391 549.529 IM830 30.403 1.3241 135,857 7.955 716,096 1S3,19) 566 27L035 L673.fM4 .797 80L872 3.011.314 Anitysl% by(und ￿n￿$￿ri0ed luffld5 RÈstritted ￿ndS 92Q?1S 75Z329 981281 a01￿72 2.Q30.033 27L03S 201.797 FA566 271035 L61&014 204.797 eOL872 1011.314 HERTS MIND NEfwoRK UMrrED NOTES TO THE FINANaAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH2023 Support costs Support Gov*manc* costs 2023 Support Govern•nce 05ts 2022 Stalf costs Depreciation Premises IT Costs Training Ottice Running Costs Other 184.256 30,806 319,071 244.076 3,152 21,436 162,721 78,967 1,621 16.793 12.846 263.223 31427 33S.864 256.922 3.152 22.564 258.287 144,939 27,967 274.960 140.012 8,755 25,136 94,327 62,117 1,472 14.471 7.369 207.056 29,439 289.431 147.381 &755 26.459 149.725 1,128 95.566 1,323 55,398 Audit lees 11,394 IL394 IL040 IL040 965,518 218.315 1.183.833 716,096 153,190 869,286 Anatysed befvleen Charilable aclivities 965,518 218,315 1.183.833 716,096 153,190 869,286 Support costs are apportioned based on estimated ts.me spent on eath attr￿ty. Board Of Directors None of ihe 8oard of Oirertors lor any persons connerted with them} received any remuneration or benefits from the charitable company during the year. Trustee expen5e5 01 £171 were incurred for the year ended 31 March 2023 l£nil for the period ended 31 March 20221. -27- HERTS MIND NETWORK UMrrED NOTES TO THE FINANaAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH2023 10 Employees Number of èmployÈes The average monthly number of employees during the year was.. 2023 Number 2022 Numbèr Charitable Actiwties Governance 100 86 103 89 Employment costs Ye•r ended 31 P•riod ended March 31 March 2023 2022 Wages and salariès Social securiiy costs Employer pension costs .2,380.445 196.600 55.185 1,877.119 145,440 47.999 2,632,230 2.070,558 There was one employee whose annual remuneratioft was £60,0￿ or more when pro rated for the year ended 31 March 2023 Ino employees for the year ended 31 March 20221. 11 Taxatlon The charity is exempt from tax on income and gains falling ￿thIn section S05 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the exlent that these are applied to its chartlable objects. HERTS MIND NEfwoRK UMrrED NOTES TO THE FINANaAL STATEMENTS (CONTINUED) FOR THE YEAR EIVDED 31 MARCH2a23 12 Intangible f•x*d assèts UEC Captsl d•¢•bastFuNting A55ets Cost At l April 2022 Additions Disposals 74.383 10,458 144,9801 74,383 83,490 144,9801 73,032 At 31 March 2023 39,861 73,032 112,893 Amortisation and imp4irnien¢ At l April 2022 Amortisation charged for the year DiSF)osals 60,892 8,139 144,9801 60,892 12,278 144,9801 4,139 At 31 March 2023 24,051 4,139 28,190 Carrying amount At 31 March 2023 15,810 68,893 84,703 At 31 Marth 2022 13,491 13,491 HERTS MIND NmvoRK Um￿ED NOTES TO THÈ FtNANOAL STATEMEpifs {COPlllNUED) FOR THE YEARENDED31 AIARCH2023 IJ T•¥lblellxod At l ApThl 2022 Additions Oi5POSa 124655 6534 (6&6451 71676 111123 S3￿53 367.307 40,677 1232.29 34.143 (7.IIY>> 11017Qg> IS3￿53] At31 Mai S3￿53 2.063 20.150 123229n At 31 Maith2023 1¥159 55.186 IL￿7 1063 84315 At 31 Maich2023 47385 IL4 507 31 91.372 At 31 Maith2022 1&967 70N5 HERTS MIND NEnNORK UMrrED NOTES TO THE FINANaAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 14 Debtors 2023 2022 Amounts falllny due withln one y￿. Trade debtors Other debtors Prepayments and accrued income 1.060,261 5,863 109.622 702.926 10,419 87.626 1,175,746 800.971 15 Creditors: amounts falling due within one year 2023 2022 Notes Other taxation and S¢xial sècuwity Deferred income Trade creditors Other creditors Accruals and dèferred income 64,489 1,666,814 152.304 15,176 19.152 44.715 1.026,255 48.176 22.176 16 1.917.935 1.14L322 16 Deferred inc¢bme 2023 2022 Deferred grant income 1.666,814 1.026.255 31 HERTS MIND NEfwoRK UMrrED NOTES TO THE FINANCIAL STATEMENTS (COlnlNUED) FOR THE YEARENDED 31 MARCH2023 17 R•sth¢t4d fvrtds RestrKted fvnds IL0217 1759229 RVK0331 (684.0851 154.52B 4.￿3,]85 P.ODL1761 [123.199) 491538 ILO217 2.7S9229 QQM0331 1684.8851 154.528 4W,385 (3mL1761 1723.199) 493.538 An re5ttKtpd fvnds aF• hew far￿￿￿(ts undertaEn IDlLthd￿￿r1￿l4IowIr￿OItht￿￿￿&Sts￿￿￿tod fundp Ji Mirth Unre5trided fvtwjs 331853 (98L3811 684•5 ML2SO 3M517 11189.59 723.199 295.369 403.793 331853 (9BUBI} 68W5 44U50 3N517 IL189.59n 723.199 295.359 HERTS MIND NETWORK Um￿ED NOTES TO THE FINANaAL STATEMENTS (CONTINUED) R?R THE YEAR ENDED 31 MARCH 2023 19 Analysis of ntt assets between funds Unrestricted Reslri¢ted funds fvDds 2023 2023 Total Unrestrirted Restrirted lunds fvnds 2022 2022 Total 2023 2022 Fund balances at 31 March are represented by. Intangible fixed assets Tangible assets Current assets/llia￿IItieS1 15,810 59,292 220.267 68,893 32.080 392.565 84.703 91,372 612,832 13,491 70,845 356,914 13,491 70,845 511.442 154,528 29S,369 493.538 788,￿7 441,250 154,528 595.778 20 Operating lease Commilments At the reporting end date the charitable company had outstsnding commitments for hrture minimum lease payments under nOn-￿nCellab1e operaling leases, which fall due as foll¢)ws= 2Q23 2022 Within one year Btheen ts¥o and five years 75,289 111,833 83,646 69,012 187.122 152.658 21 Related party transartions Remunuation of key management personnel The remuneration of key man¢7gement personnel is as follow& 2023 2022 Aggregate compensation 262,410 205,583 22 Guarantee Herts Mind Nets¥ork is a Cornpany knmited by Guarantee_ Each director provides a 9uarnntee limited to £10 whith would be payable in the event the Company is wound up. 23 Analysis of 40tsl12￿￿I1rffl5e 51)19 ISW QX1S• IJX)56 15¥• 215111 ($052¥ 1141164 11LI 17J (4 all.￿1 4￿JU4￿￿o5￿prf YAYS 44£$ ?.$ i. 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