HERTS MIND NETWORK Directors, Report and Financial Statement Year ended 31st March 2025 Charty Registration No. 1112487 Company Registration No. 5532977 Hertfordshire Network
HERTS MIND NETWORK FOR THE YEAR ENDED 31 MARCH 2025 Hertfordshire LEGAL AND ADMINISTRATIVE INFORMATION The Board of Directors Jess Lievesley {Chair} Elena Lokteva {Treasurer) Helena Marks-thvyer Will Lewis Luke Donovan-King Tracey Carter Lauren Schogger -joined 911012024 Tahlia-Rose Carter - resigned 9110r2024 Ritu Sharma (Board Secretary) - resigned 26r2r2025 Anthony Earnshaw - joined 9110r2024 (Treasurer) Key management personnel Jo Marovitch - Chief Executive Hilary Lythgoe Carys Norman Danielle Levy Principal Office 501 St Albans Road Watford Hertfordshire 24 7RZ Auditor8 Myers Clark Chartered Accountsnts Suite 7A. Building 6, Croxley Park, Hatters Lane, Watford, Hertfordshire WD18 8YH Bankers CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ Solicitors EMW Law Seebeck House 1 Seebeck Pla Milton Keynes Herts MKS 8FR Charity Number 1112487 Company Number 05532977 Page 2 of 36
HERTS MIND NETWORK FOR THE YEAR ENDED 31 MARCH 2025 Hertfordshire CONTENTS APPENDIX.......-......-..-...-..-...-.-....-.-.......- STATEMENTOFDIREcfoRS'RESPONSIBILITIES.......................................................... DIRECTORS'REPORT.......................................... INDEPENDENTAUDITOfS REPORT.................................. .15 STATEMENTOFFINANCIAL ACTIVITIES.................................. . .19 BALANCESHEEr.................................................... .. .20 STATEMENTOF CASH FLOWS................................ . .21 NOTES TO THEFINANCIAL STATEMENTS............................ .. .21 APPENDIX............................. ..33 Page 3 of 36
HERTS MIND NETWORK FOR THE YEAR ENDED 31 MARCH 2025 Hertfordshire Network STATEMENT OF DIRECTORS, RESPONSIBILITIES The directors are responsib for preparing the Diredors, Rep)rt and the financial ststements in accordan wth applicable law and United ngdorn Accounknng Standards (unit& 'ngdorn Generally Accepted Accounting Pracbcel Company law requires the Board of Directors to prepare financial statements for each financial year, which give a true and fair VEW of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure. of the charrtable company for the year. In preparing these financial statements, the Directors are required to.. - select suitable accounting FM)licies and then appty them consistenty observe the methods and principles in the Chanties SORP make judgements and estimates that are reasonable and prLKlent state whether applicable UK Accounting Standards have been follcwed, subj.ect to any material departures disclosed and explained in the financial ststements prepare the financial statements on the going concem basis, unbess it is inappropriate to presume that the charitable company will conknnue in operation. The Directors are responsible for keeping proper accounting records which disclose with reasonabk accuracy the financial position of the charty and which enable them to ascertain the financial positi'on of the chanty and ensure that the financial stateme nts compty wrth the Companies Act 2006. The Directors are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the preventTron and detectK)n of fraud and other irregularities. In so far as the directors are aware: there is no relevant audit information of which the charitable company's auditor is unaware; and the directors have taken all steps that they ought to have tsken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. Page 4 of 36
HERTS MIND NETWORK FOR THE YEAR ENDED 31 MARCH 2025 Hertfordshire ork DIRECTORS, REPORT The Board of Directors present their annual report and financial statements for the year ended 31 March 2025. The financial statements have been prepared in accordance wrth the accounting policies set out in note 1 to the financial statements and comply wtth the charitabbe company's goveming document, the Companies Act 2006 and "Accounting and Reporting by Charri ies. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financ1 Reporting Standard applicable in the UK and Republic of Ireland (SORP FRS 102) {effective 1January 2019).. GOVERNANCE: CONSTITUTION. STRUCTURE AND MANAGEMENT OF THE CHARITY Herts Mind Network Ltd {"the Charty.) Is a company limrted by guarantee having been registered in August 2005 under the name of Mind in Dacorum Ltd (name change in August 2007) As a registered chanty, it Is governed by rts Memorandum and Arbcles of As sociation and the trust deed under wh rt was originally set up. The Charity began operating as a company limrted by guarantee on 1 April 20CE. The Board of Directors ("the Board") comprises twefve people including a proportion of users of mental health services. Recruitment to the board takes place periodically as needed. and anyone from the community can apply for these roles. Nomination of candidates for election to the Board is open to the whoè membership. and a ballot is held annually at the AGM to elect those who wish to stand for Officer posts. Members wishing to be considered for election to the Board can approach an Officer during the sear for a discussion of the roles and responsibilrties of a Director. Following this discussion, the member may be introduced to the Board and observe a number of board meetings. The member may then be ccwpted onto the Board in the intervening period bdore the next AGM where they will be formalty appointed by the membership. Job descriptions exist for each Officer position. and a full briefing is given atK)ut the roles and responsibilities when a Director is first appointed. Ongoing training is gplen to Directors as and when required. The Directors are responsible for all operational decisions taken by the Charty, including allocation of resources in pursuit of its charitable objectives, although some of these decisions are devolved to the Chief Executive and the senior members of staff. A Delegation of Authorty document exists in relation to those areas where decisiortr making has been devolved to staff, for example in latiOn to ordering of goods and sep4ices. The Charity works in partnership with other organisations including Mind in Mid Herts, AGE UK and HPFT where this is the most effective way to provide services across the county. FINANCIAL MANAGEMENT AND CONTROL During this hvelv&month period (April 2024 - March 2025), the Chanty has undertaken a wide range of activities in pursuit of its charitable objectives. To help manage these activities, annual budgets for the following year are prepared, presented to and agreed by the Board. To support the financial regime. cèarly written poIleS about what activities will be funded and how, have been prepared and communicated to all involved. The Board receives monthly management accounts reporting on the financial performance and position of the organisation. These are presented to the Board and compare updated forecasts for the expected yeaFend position in the light of performance in the ye* to date, compared to budget. The Board is presented with a narrative provided by the Treasurer and focuses on reasons for variation from budget. GOING CONCERN The Directors have a responsibility to make sure that the Charity continues in existence for the foreseeable future (at least 12 months from signing these accounts) and to do so theymust be sure that they always have sufficient funds not only to pay the Chanty's bills as they fall due but also to fund commitments to future capital expenditure. This is known as being a 'going concem" The Charity's review of Going Concem was extensive and extended to 'stress testing, for the direct financialimpact of an increased cosl of living and inflation. The outcome of these reviews show that these events would be Page 5 of 36
HERTS MIND NETWORK FOR THE YEAR ENDED 31 MARCH 2025 Hertfordshire challenging for the Charity but in the Directors opinion would not compromise the Charity's ability to continue as Going Concern. RISK MANAGEMENT Attention continues to be given to the major strategic, business and operational risks whTrch the Charity faces, and believes that maintaining adequate levels of reserves, combined wtth an annual review of controls over key financial systems, will provide s ufficient resources in the event of adverse condttions. To attend to risk management, the Directors hale prepared and regularty revie4V an organisational risk management policy. Areas of risk have been broken down wrth responsibilty for each section alloca ted to individual Directors or members of the senior management team. Some of the key risks that the Charty has included in ts Folicy are: Over reliance on a single funder Increase unrestricted fundraisinglincome generation avenues and appty for a variety of grants and bids from different funders Ensure that we continue to create seprfi models that are effective, competitive, innovative and responsive to local Competition for contracts and tenders IT systems and cyber rJime Invest in robust IT infrastructure and ensure ongoing cyber security measures are in place to support organisational ReLationship with funders Maintain and develop collaboratrve. honest and effective commissioner relationships by delNering high qualty services that meet the needs of our local communities. Remain awareness of changes in govemment policy whh ma affect or influence the third sector Priorilise employee wellbeing, regularly review recruitment and retention strategies, and provide comprehensple trainin and rofessional develo ment o rtunities. Political Staff CHARITIES AND PUBLIC BENEFIT The Directors of HMN have read the guidance issued by the Charity Commission for England and Wales on 'Charilies and Public Benefit,. The Directors confirm that the objects of the charity fully comply with this guidance and further information is set out tEIow. RESERVES POLICY The Directors ensure that reserves are maintained at a level that enables the Charty to meet rts ongoing obligalions as well as managing financial risk and fluctuating income, as it seeks to maintain existing charitable aclivities and develop ne4V ones. Transfers are made from restricted funds to unrestricted funds to cover the 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 owoing obligations in the event that the Charity can no longer support its service offerings or contracted sep4ices cease. This amount is considered to address committed costs for a range of items for a period of three months. This level of reserves enables the Charty to fund working capitsl requirements, retain experienced staff during short term funding gaps and acquire fixed assets to be used over a number of years. This level will be reviewed annually to ensure it is still appropriate. The Charity maintains funds in longer tenn investment accounts where such funds are not required for day to day activrties. This provides securty to the organisation and provides some additional interest return. Page 6 of 36
HERTS MIND NETWORK FOR THE YEAR ENDED 31 MARCH 2025 Hertfordshire FINANCIAL POSITION During the twelve-month period ended 3111 March 2025. total income was £6.127.140 and total expenditure was £5,762,063. The reserves of the charty increased by £ 365.077. FUNDRAISING The maiorty of HMN'S income is derived from contracts and grants. The organisation also receives income from s(Kial enterprises detailed fjonations and legacies. There are static collection b)xes at varicws locations in Hertfordshire and the abil ty ft)r people to donate to and organise fundraising events in support of us wa our websrte and through a Herts Mind Network Just GNing page . There is no commercial fundraising activty directy to the publ. VISION, PURPOSE AND VALUES Our vision "Every person in Hertfordshire will feel supported with their mental health . Our purpose We fight for the rnental health of every person in Hertfordshire. 2. We provide mental health suppor( opportunity, advocacy and resources. 3. We will elevate and promote the voice of those with lived experience of mental ill heafth Page 7 of 36
HERTS MIND NETWORK FOR THE YEAR ENDED 31 MARCH 2025 Hertfordshire Our values Our values Hope We believe in choice. freedom. change and a better future for every person experiencing mental ill health. Courage We are determined. Ix)Id and unstoppable. Together We share leaming. build relationships and connect with othèrs to promote better mental health across our community- Responslve We take time to listen. to leam. to share and to act. Page 8 of 36
HERTS MIND NETWORK FOR THE YEAR ENDED 31 MARCH 2025 Hertfordshire Netw REPORT ON PRINCIPAL ACTIVITIES We provide essential mental health support in Hertfordshire, providing a dNerse range of services from our seven Wellbeing Centres and other venues across all ten distncts of the county Funded locally, our services a availab to all residenls in Hertfordshire over the age of 18 and we offer dedicated SerViS for 5-18 year okls. We create opportunities for Indivuals experiencing mental ill heafth to make choices. find their soluts'ons, build resilience and manage their whole lrfe and wellbeing. Our seprfices are based on the principle of self -help with strong emphasis on prevent i(, personal devek)pment, self-management and improving health and wellbeing. We provide Opportun'eS for individuals to access supFK)rt to enable them to recover from or live wrth mental ill health. Our services are grouped in the following areas.. 1. Crisis Intervention 2. Complex Needs 3. Peer Support 4. Wellbeing and Counselling 5. Training 6. Children and Young People CRISIS INTERVErION This year, we continued to grcAv and strengthen our Nlghtllght countywide out-of-hours mental health crisis service. Our NightlKJht Crisis Centres offer safe, welcoming, and homely spaces for people in distress. Each centre is run by experienced, non <linical staff - many with lived experience of mental ill health - who provide compassionate. understanding suppjrt. Nlghtllght Crlsls Help15ne is open every day, from 7pm to 1am. Our Nlghtlight Crisis Cafés are open every day across the week from 7pm- 1am. The Stevenage and Watford Crisis Cafés are open each day, and the Ware and Hatfield Crisis Cafès are open Friday, Saturday. Sunday and Monday each week. The Haffield Crisis Café is delivered in partnershp with Mind in Mid Herts. Our Nightlight Crisis House in Hemel Hempstead offers four ovemight beds, available yeaFround for people in crisis who would benefrt from a short stay. These stays are assessed daily and usually last up to three nights, depending on individual needs. In some cases, this is agreed in partnership with the Crisis Resolution Home Treatment Team, We also work in A&E settings. TheA&E Crisis Liaison Service. delivered with Mind in Mid Herts, supports staff at Lister and Watford General Hospitals to improve cnsis care for adults. Our A&E Link Workers help people a¢sS alternative, non<linical crisis suppor( like Nightligh( when a hospital setting may not be the best place. Finally, Daylight offers short-term. one-tOne crisis support in the community for adults aged 18 and over. Our Daylight Workers typically support individuals for 4- 8 weeks, helping them access local reSoUrS and manage their mental health wilhin their own comrnunities These services fom the crisis alternative pathway across Hertfordshire. COMPLEX NEEDS We are trusted providets of complex needs seprfices across Hertfordshire. offering a wide range of tailored support to people expenencing mental ill health or emotional distress. The Communlty Support Service offers On&t0ne outreach support across the county. helping people with emotional wellbeing, housing needs, benefits. signposting, and practical life skills. We aim to reduce crisis episodes and improve quality of life. Page 9 of 36
HERTS MIND NETWORK FOR THE YEAR ENDED 31 MARCH 2025 Hertfordshire Network Bounce Back supports people as they transition from hospital to home. Based in lQ"ngfisher Court. Albany L(MJge, and both A&E departments (Watford and Lister), the service ensures a smooth and supported discharge through one-to-one outreach support. Our countywide Flourl8h servir2 supports refugees and asylum seekers aged 16 and over. providing up to 10 sessions of one-ttrone holistic support. The serVe helps individuals settle in the UK and manage the mental health challenges they may f¥2. Peer support groups are also av ailable in local communities and asylum hotels. The Houslng Support SeNlce provides advice and holistic support to people facing housing drfficulties linked to their mental heatth (excluding homelessness). Our Complex Needs Houslng Servlce SUPKh)rts people expenencing mental ill heah who are presenting as homeless to local district and borough council housing teams. Our team offers advi, referrals. and personalised support pLans -working with individuals lo find the right solub'ons for their needs. The Domestlc Abuse Servlce is available in Wattord and Three Rivers. this serrfice supports anyone aged 16+ experiencing domestic abuse. Our Caseworkers offer non -judgemental, person -centred support - helping indivKluals explofe options. make informed choices, and take steps at their (Avn pace. Support may include safety planning, healthcare access, and help wth alternatNe accommodation. Our Prlmary Care Network Servlce provides 6 -10 sessions of ontrtone tailored mental health support for people aged 16 and over. Working closety with GP practices, we ensu individuals can access the right support to improve their wellbeing. PEER SUPPORT Our countywide Peer Support Servlce offers flexible support for adults experiencing mental ill health. as well as their carers. Led by Peer Support Workers wrth lived experien, the Servi provKles personalised support tailored to each individual's needs. This includes on&tfrone sessions, peer support groups, and peer learningsets, helping people build on their strengths and find their own solutions. We also offer a Peer Mentoring Servlce. delivered by trained volunteers who provide up to 12 sessions of on&tc one emotional and practical support, either in person, over the phone, or via Zoom. Our Mums Matter service supports mothers with children aged (Y2. It combines psychoeducation, peer support, one-to-one sessions. and group activrties to support perinatal mental health and reduce isolation. WELLBEING AND COUNSELLING Prevention and early intervention are at the heart of our work. with a strong focus on improving both emotional and physical wellbeing. Support for Carers We provide Peer Support groups. counselling, and wellbeing activities such as yoga and art groups to help carers look after their own mental health. Groups and Actlvltles We now run 23 groups across the county, both online and fac&ttrface. These include art. music. carers support. LGBTQ+ and self-SUPPOrting peer groups. These activities offer safe spaces to connect. share. and build confidence. Page 10 of36
HERTS MIND NETWORK
FOR THE YEAR ENDED 31 MARCH 2025
Hertfordshire
Network
Volunteering and Training
We currently have 128 volunteers supp¢yting a range of sepiices. Many are past clients who have completed our
training and moved into volunteer roles. These placements support recovery, boost confidence, and often lead to
employment.
Wellbèlng Access Workers
In partnership with Hertfordshire Partnership NHS Foundation Trust, our Wellbeing Access Workers promote our
services and support residents in accessing both community and NHS mental health support helping to remove
barriers and raise awareness. Sadty. this sep4tt closed in October 2024. when funding was withdrawn.
Counselllng Servlces
Our respected Talk It Out Counselllng Servlce is available at all Wellbeing Cent. Clients re1ve up to 10
client-centred, confidential sessions from trained and Plament counsellors. Fees range from £10 -£40, depending
on circumstsnces, and anyone can Self-Ier.
Our Talklng Theraples Counselllng Servlce offers up to 8 free one-to-one sessions with qualffied counsellors for
Hertfordshire residents aged 16+ referred through their GP. This service provides a safe and supports've space to
explore and reflect on experiences in a confidential environment
TRAINING
We are a leading provider of mental health training in Herlfordshire. wtth extensive experience delrrfering high
qualty courses to a wide range of organisatsons.
Our training is available both online and in person, and is tailored to the needs of voluntary. statutory. and private
sector partners. We cover a wide range of topics including mindfulness. self
HERTS MIND NEfwoRK FOR THE YEAR ENDED 31 MARCH 2025 Hertfordshire Our Herts Haven Cafés in Watft)rd. Ware, Hernel Hempstead, and Stevenage. These free. drop -in spaces offer immediate emotional support for 1 I19 year olds experiencing mental health challenges. Our Futurn Youth service provKJes up to 6 months of face -tO-face mentoring for 12-18 year olds in East and North Herts. Each young person is matched with a dedicated mentor who offers pract1 and emotional support to help them reach their goals, build confidence. and ov ercome personal barriers. Our free Counselllng Servlce for children and young people launches across the county in April 2025. Available for ages 5 to 19. the seNice is open to anyone registered wrth a Hertfordshire GP. Sessions can be one -to-one or group-based. offered in-person or online. ACHIEVEMENTS AND PERFORMANCE During this twefve-month perM)d, 17.219 people have accessed our services. Adult provision HMN supwrted 7,063 adults during this iWee-MOnth per provIng.. 604 Pr Mentorrng sessions provided. 3.068 Peer Support sessions Provided. 847 Counselling sessions. 5,478 Talking TherapEs Counselling sessions1684 unique clients) 2,846 individuals supported in cnsis through HMN Crisis services. 9,951 referrals into Cnsis Suppor( inclusive of 8,713 N ightlight Crisis Helpline calls ,233 communty support and complex needs sessions. 717 support sessions were provided by the Three Rrvers Domesb'c Abuse Seprfice. 6.190 attendances at Meeting Places. 168 new Mums provided with perinatal supporL 221 sessions provided for carers {37 unique clients) Children & Young People provision HMN supported 10,156 CYP during this twelve-month period providing. broken down as follows: 2,014 young people accessed 1..1 and group yovision 8,142 young people attended psychoeduCatnal emotional wellbeing workshops and educational provision held in schools 2nd local communty groups. 90 young people accessed 397 one-to-one support sossions provKJed by Futu Youth. 879 young people accessed With Youth instant access support, andlor 1..1 sessions. 1.117 seven to twelve year-olds have used Lumi Nova: Taks of Courage to overcome their fears and worries. 22 eleven- to seventeen-year-olds attended SPARK to use at1vfy to improve their emotional wellbeing. 432 young people visrted the Herts Haven Cafés (810 visits) Provided training tt) 1.093 professionals who work with children and young peopk. 23 parents attended Children & Young People workshops. Thfough its work HMN has had a major impact on many individuals, lives and as a resuli has had many public benefits, including= reduction in suicides wrthin the county. reduction in isolation and loneliness for at risk client groups. improved health and wellbeing of Hertfordshire residents. reduction in hospital admissions by supporting clients in crisis. prevention of lonterm mentsl health conditions. increase in awareness of mental health and mental ilkhealth. Improved access to crisis support out of hours. Page 12 of 36
HERTS MIND NEfwoRK FOR THE YEAR ENDED 31 MARCH 2025 Hertfordshire Network LOOKING AHEAD A new chapter beglns Although it officially tskes effect on 1 st April 2025, we are pleased to share that much of the work to bring The Sadie Centre into Herts Mind Network t¢)ok place during this reporting period. This significant mIstone marks the start of a chapter. as we join forw to create a stronger. more resilient organisation. By merging, we'll be able to pool resources. knowledge, and experien - enabling us to expand our reach. broaden our servIs, and continue ddivenng compassionate, innovatNe mental health and wellbeing support across Hertfordshire. PLANS FOR FUTURE PERIODS The Board a fully aware of the risk of further potenbal cuts in statutory funding, and the implicats.ons of such cuts are discussed by the Board. The Board continues to devek)p plans to ensure that HMN can sts"Il deliver hgh qualty services should furth er cuts in ststutory funding arise. The Charty will continue to seek funding to support its work in a vanety of ways, including partnership working. direct grant appIon and deVelong other income streams. The key areas of attention are detailed bel(r•V'. SERVICE PROVISION To seek new funding opportunities to enhance and develop the current provision in line with unmet needs. To work with clients, commissioners and norFstatutory providers to assess changes in national policy and local trends to drive and develop responsive innovative services to meet future challenges. To attract new, nOStatUtory funding into the organisation, in order to protect our independence and allow more innovation and creativty wrthin our provision. To develop new partnerships to promote innovative ways of working. To conts'nuously strive to deliver SeiceS of high quality, which are safe and offer best value. To support staff and their welfare and sustain a welktrained supported workforce able to deliver high quality services. To develop HMN counselling services to meet current demand. To improve our marketing and prornotional activty across the county to ensure that our communities know who we are, what we do and how to access us. CAMPAIGNING To continue to seek funding to enable us to lead the way in raising awareness on mental health issues and continue to challenge the stigma and prejudice surrounding mental ill health. To continue to work alongside o)unty organisations. both statutory and voluntary, to ensure that mental health remains a high priority on the NHS health agenda. Page 13 of 36
HERTS MIND NEfwoRK FOR THE YEAR ENDED 31 MARCH 2025 Hertfordshire Network AUDITORS Myers Clark offer themselves for reappointment at the AGM. This report is prepared in accordance with the small companies, regime (Section419) (2) of the Companies act 2006) Approved by the Board of Directors and signed on behalf of the Board Jess Lievesley (Chair) Dlrector -Anthony Eamshaw (Treasurer) Dlrector Dated.. 22 October 2025 Dated: 22 October 2025 Page 14 of 36
HERTS MIND NETWORK FOR THE YEAR ENDED 31 MARCH 2025 Hertfordshire INDEPENDENT AUDITOR'S REPORT Opinion We have audited the finanoal statements of Herts Mind Netwo Limited (the 'charitable company? for the year ended 31 March 2025 which comprise the ststement of finanaal activities, the balance Sht, the statement of cash flows and notes to the finano al statements, including significant accounting poliaes. The financial pOrting frdmework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Finanaal Repothng Stsndard applicable in the UK and Republic of Ireland (United ngdoM Generally ACpted Accounting Practice). In our opinion, the finanaal statements: Give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its incoming resources and application of roUrces, for the year then ended Have been propedy prepared in accordan with United Kingdom Generally Accepted Accounting Practice; and Have bn prepared in accordan with the requirements of ttrE Companies Act 2006. Basis for opinion We condutted our audit in accordan with Intemational Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the athit of the financial statements section of o ur report. We are independent of the charitable company in accordan with the ethical requirements that a relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Stsndard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is suffiaent and appropriate to provide a basis for our opinion. Conclusions relating to going cOnrn In auditing the financial statements, we have conduded that the directors. use of the going conrn basis of accounting in the ppardtsOn of the finanaal statements is appropriate. Based on the work we have perfornied, we have not identified any material unrtaIntieS lating to events or conditions that, individually or collectively, may cast significant doubt on the charitsble CoMpanS ability to continue as a going concem for a period of at least twelve months from when the financial statements are authorized for issue. Our responsibilities and the responsibilities of the Board of Directors with respect to going concern are described in the relevant sections of this report. Other Information The other infomiation comprises the infomiation included in the annual report other than the financial statements and our auditorfs report thereon. The Board of Directors are responsible for the other information contained within the annual report. Our opnion on the financial statements does not cover the other information and we do not express any fOn of assurdnce conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other infomiation is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we condude that the is a material misstatement of this other infonnation, we are required to report that fact. We have nothing to report in this regard. Page 15 of36
HERTS MIND NEfwoRK FOR THE YEAR ENDED 31 MARCH 2025 Hertfordshire Network Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: The infomation given in the trustees, report, whith indudes the directors, port prepared for the purposes of company law, for the finanoal year for which the finanaal statements are prepared is consistent with the finanaal statements. and The directors, report included within the trustees, rewrt has bn prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understsnding of the charitable compary and its environment obtained in the course of the audi¢ we have not identified material misstatements in the dirertors, report included within the trustees, report. We have nothing to report in pect of the follov4ing rnatters in relation to which the Companies Art 2006 and Charities (Accounts and Reports) Regulations 2008 requi us to report to you if, in our opinion: The information given in the finanaal ststements is inconsistent in any material respect wrth the directors. report; or Sufficient accounting records have not been kept; or The financial statements are rH)t in agreement wtth the accounting records; or We have not received all the information and explanations we require for our audiL Responsibilities of Board of Directors As explained MO fully in the statement of directors, responsibilities, the Board of Directors, who are also the directors of the chaiitable company for the purpose of company law, are responsible for the preparation of the finanaal statements and ft)r being satisfied that they give a true and fair view, and for such intemal control as the Board of Directors determine is necessary to enable the preparation of financial statements that are fr from material misstateme nt, whether due to fraud or error. In preparing the financial ststements, the Board of Directors are responsible for assessing the charrtable company's ability to continue as a going concern, disclosng, as applicable, matters related to going concem and using the going concem basis of accounting unless the Eoard of Directors either intend to liquidate the charitable company or to cease operations, or have rK) realistic altemative but to do so. Auditorfs responsibilities for the audit of the finanaal statements We have b&n appointed as auditor under section 144 of the Charities Act 2011 and report in accordan with the Act and relevant wulations made or having effett thereunder. Our objectives a to obtsin reasonable assuran about whether the finanaal statements as a whole are free from material misstatemen¢ whether due to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable assuran is a hi gh level of assuran but is not a guarantee that an audit conducted in accordan with ISAS (UK) will always detert a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggrEgate, they could reasonably be expected to Influen the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. The extent to which the audlt was considered capable of detectlng Irregularities including fraud In identifying and assessing the risks of material misstatement is respect of irregularities, including fraud and non<ompliance with laws and regulations, we considered the following; Page 16of36
HERTS MIND NEfwoRK FOR THE YEAR ENDED 31 MARCH 2025 Hertfordshire Network The nature of the industy and sector, control environment and business performan including the design of the remuneration poliaes, drivers for trustee mUneratiOn, bonus l&iels and performance targets; Results of enquiries of Management al)out their own identification and assessment of the risks of irregularities. Any matters we identified havlng obtsined and review the charitable company's documentation of their policies and prOdureS relating to; Identifying, evaluating and complying WTth laws and regulations and whether they were aware of any instances of non-compliance; Detecting and responding to the risks of fraud arKI whether they have knowledge of any actual, suspected or alleged fraud; The internal controls established to mitigate risks of fraud or non -complian with laws and regulations. The matters discussed among the audit engagement team regarding how and where fraud might 0ur in the financial statements and any potential indicators of fraud. As a result of these procedures, we considered the opportunitses and inntiveS that may exist within the organization for fraud. In common with all audits under ISAS (UK), we are also required to perform speafic ProdureS to respond to the risk of manag ement override. We also obtained an understanding of the legal and regulatory frdmeworks that the charitsble company operates in, focusing on provision of those laws and regulations that had a direct effect on the determination of material amounts and disdosures in the finanaal statements. The key lav and regulations we considered in this context induded the UK Compa nies Act. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the finanaal statements but compliance with which may be fvndamental to trie chaiitable company's ability to operate or to avoid a material penalty. The se induded Employment Law. Audit response to rlsks identified To addsS the risk of fraud through management bias and overTide of controls, we: Performed analytical predureS to identify any unusual or unexpected relationships ' Tested joumal entries to identify unusual transactions; Assessed whether judgements and assumptions made in detemiining the accounting estimates were indicative of potential bias; and Investigated the rdtionale behind Sbgnificant or unusual transactions. In response to the risk of irregularTties and non -compliance with laws and regulations, we designed procedures which induded, but were not limited to: Agreeing financial ststement disdosures to undetlying supporting documentstion; Reading the minutes of meetings of those charyed with governance; and Enquiring of management as to actual and potential litigation and daims. There are inherent limitations in our audit procedures described above. more removed that laws and regulations are from finanaal tr3nsactions, the less likely it is that we would become aware of non compliance. Auditing standards also limit the audit procedures required to identify non -complian with laws arKI regulations to enquiry of the directors and other management and the inspecbon of regulatory and legal corresponden, if any. Material misstatements that arise due to fraud can be harder to detect tha n those that arise from error as they may involve deliberate concealment or collusion. Page 17 of 36
HERTS MIND NETWORK FOR THE YEAR ENDED 31 MARCH 2025 Hertfordshire Network A further desuiption of our responsibilities is available on the Finanaal Reporting Counol's website at: https:IlwvM.frc.org.uklauditorsresponsibilities . This description fomls part of our auditorfs report. Use of our report This report is made solely to the charitable company's trustees, as a body, in accordance wtth Chapter 3 of Part 16 of the Companies Act 2006 and part 4 of the Charities (accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trust5 those matters we a required to stste to them in an auditorfs report and for no other purpose. To the fullest extent pennitted by law, we do not accept or assume responsibilty to anyone other than the charitable CoMpanS trustees as a body, for our audit worK for this report, or for the opinions we have formed. Paul Windmill (Senior Statutory Auditor) For and on behalf of Myers aark Chartered Accountants Statutory Auditor Date: D3.11.2o2S Suite 7A, Building 6 Croxley Path, Hatters Lane, Watford, Hertfordshi WD18 8YH Page 18 of36
HERTS MIND NETWORK FOR THE YEAR ENDED 31 MARCH 2025 Hertfordshire STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT Unrestrkt•d R•strlct•d Funds Fundi Lknrestsicted Restricted Funds Funds 2024 2024 TOTAL 2025 TOTAL 2024 NOTES Incom• and •ndThnn•nts Donationsand legacies Charitable Activil5 Othef TraOingAciv4ities Otheflnetme 15.049 18,284 5.791.605 e4,749 5,e46.914 5.955,454 70.W2 67.761 205.163 75.950 5.481.751 67.761 TOtsIkne1e 317,251 s.9.8&9 127.140 .441 5.518.235 5.882.676 Expendltsrew: Charltabl•ActlTAdes 1.i57. 4..ry S.762,IA3 1.339.972 3981.757 5.321,729 Iouiydnil I Inctynl resowces beloretTansfe Ii.UO.2&31 1.505. (975.5311 L&36.478 580.947 GrossTransfefS 0etenfUnd5 I,4.632 1.409.632 1.087.9Z2 1.087.922 NEt In¢omelwth•yearl McNefflent Inlunds 95.n8 .077 i391 5f4).947 Fud baLw¢•s l#Al2024 407.7EQ 941094 L349.854 493.538 788.9J7 Fund bal•¢es•t tst•rll 2025 6.1(8 1.037.822 L714.931 407.7 094 1,349,BS4 Tr¢ ststsnThyrt of firnrrial athiilies irrkKlos 01 goi atMI b8888 raco9rffj in year ststerrenl of firarcial alaivitss al gal5 aThJ bsses reo)giised in the year. Al irthmè ard eypeTrJitue duiNe from cortiwirYJ acti¥'es. Tre stslement of fir0r¢ial abo con$ tre Wurlef for an Irn ar¥J eyrKlttiwe accourt Cofrparies t 2(Q6. Page 19 of 36
HERTS MIND NETWORK FOR THE YEAR ENDED 31 MARCH 2025 Hertfordshire BALANCE SHEET BALANCE SHfEr ASAT 3tst 14PIICH 2025 Motel 2025 2024 FlxedAsstls Intareityle Assets Tangible Assets 41.880 311.237 3S3.117 13 225,337 Cwr•ntA¥s•t DeblOWS Cash at bankaThl in haThl IW.d48 1.8i2.061 2,012.509 1,145.233 1.&37.912 2.983.145 Credlt•r% amoUntsfaUldt thln orxye•r 1650,ts51 li.W.2941 Nei CuiientAsséts 1.381.814 i.rMs.051 TthI ••••t•l••s ¢wr•ntll•bliltl•• 1,714.031 1.349.854 IKom¢ Fwnd• Resti¢ied Funds UThestricted FuThls 17 18 1.037.822 677.109 1,714.931 407.760 1,349,854 The company is entitled to the exemption from the audrt requirement contained in section 477 of the Companies Act 20C6, for the year ended 31 March 2025, allhough an audrt has been carried out under section 144 of the Charities Act 2011. The members have not required the company to obtain an audit of rts financial ststements under the requirements of the Companies Act 2006, for the year in question in accordance wth section 476. These financial statements have bn prepared in accordance wrth the provisn$ applicable to companies subject to the small companies regime. The financial statements were approved by the Board of Directors on 22nd October 2025. Anthony Eamshaw (freasuror) Director Joss Lievesley (Chair) Director Company Registration Number S532977 Page 20 of 36
HERTS MIND NETWORK FOR THE YEAR ENDED 31 MARCH 202 5 Hertfordshire Network STATEMENT OF CASH FLOWS Cash fltydfs trom operatlngactlvltles Cash generated from operations ie6.8e6 3.780 Investln£ actlvltles Purchase ol Intangible Assets Purchase olTan8ibie Fi¥edAssets 134,5161 1176.373 148.1571 1152.7171 1210,8891 Net Cash Used In In¥esllngActl¥ltles Net Cash used In flnanclng acll¥ltles 14.149 482.891 Net Increase In cash and cash equl¥aients Cash arKI cash eqimvllants at beginning olyear 1.837.912 1,355.021 Cash and Cash equlvllabts atend of year 1,852,061 1,837,912 NOTES TO THE FINANCIAL STATEMENTS ACCOUNTING POLICIES Charity inforniation Herts Mind Network Limited is a private company limrted by guarantee incorporated in England and Wales. The registered office is 501 StAlbansRoad, watfd, Herts, VVD24 7RZ, 1.1 Accounting convention The financial staternenls have been ppared in accordance with the charitable company's goveming document, the Companies Act 20C and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland ISORP FRS 102) (effethe 1 January 2019)" The chartlable company is a Public Benefit Entty as defined by FRS 102. The financial statements are prepared in sterling. which is the functional currency of the charitatAe company. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, Imodified to include the revaluation of freehold properties and to include investment prOpertS and certain finanaal Instruments at fair value]. The principal accounting FM)licies adopted are set out below. 1.2 Going concem At the time of approving the financial ststements. the Board of Directors have a reasonable expectation that the charitable company has adequate sOurceS to continue in operational existence for the foreseeable future. Thus the Board of Directors conkn.nue to adopt the going concem basis of accounbng in pparing the financial statements. 1.3 Charitable funds Unrestricted fuThJs are available for use at the discretion of the Board of Directors in furtherance of their charitable objectives. Page 21 of 36
HERTS MIND NETWORK FOR THE YEAR ENDED 31 MARCH 202 5 Hertfordshire Restricted funds are subj.ect to speofic conditions by donors or granters as to hcm they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 1.4 Income Income is recognised when the chantable company is legalty entitled to tt after any perfomiance conditions have been met, the amounts can be measured reliabty. and it is probable that income will be r[ved. Cash donations are recognised on receipt. Other donations a recognised On the charitable company has been notified of the donation. unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift AKI or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise rf the charttable company has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the gacY is treated as a contsngent asset. Expendlture Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure. rt is probable that settlement will be required and the amount of the obligation can be measured reliably. All expe nditure is accounted for on the zrual5 basis. Imiere costs cannot be directy attributed to an activty including suptM)rt and Off costs they have been allocated to activty cost ¢tegOrieS on a basis consistent wrth the use of the resource i.e. estimated time spent or resource used. Intangible fixed assets other than goodwill Intangible assets over £1,000 acquired separatety from a business are recognisedat cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. The primary intangible asset is the charity database which is central to the organisation. None of this expenditure is regarded as research and development cost, but as live improvement to reflect service requirements. Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Charity database UEC Capital Wellbeing Centre UEC Caprtal Funding Assets 33% p.a. straight line 33% p.a. straight line 33% p.a. straight line Tangible fixed assets Tangible fixed assets over £1,000 are initialty measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. DepreciatK)n is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Leasehold land and buildings (conservatory) Fixtures and fittings Office equipment UEC Capital Funding Assets UEC Capital Wellbeing Centre 10% p.a. straight line133% p.a. straight line on the t)oiler housed in a leased building) 10% or 20°A or 33% p.a. straight line 33% p.a. straight line 20% or 33% p.a. straight line 10% or 20°/0 or 33% p.a. straight line The gain or loss arising on the disposal of an asset is determined as the difference between the sale prfxeeds and the carrying value of the asset, and is recognised in the statement of financial activities. Page 22 of 36
HERTS MIND NETWORK FOR THE YEAR ENDED 31 MARCH 2025 Hertfordshire Impairnient of fixed assets At each reporting end date, the charitable company revEws the carying amounts of its tangible and intsngible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recove rable amount of the asset is estimated in order to determine the extent of the impairment loss {if any). Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call wrth banks. other short -term INuid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings In current liabilitses. 1.10 Financial Instruments The charitable company has elected to apply the prcNisions of Section 11 '8asic Financial Instruments. of FRS -102 to all of its financial instruments. Financial instruments are recoJnised in the charitable company's balance sheet when the charitable company becomes paty to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial staternents, when there is a legal enforceable right to set off the recognised arnnts and there is an intention to settle on a net basis or to realise the asset and settle the lia'lty simuttaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are inrtially measured at transaction price including transaction costs and are subsequentty carried at amortised cost using the effective interest method unless the arrangement cons trtutes a financing transacthon. where the transaction is measured at the present value of the future 1p1S discounted at a market rate of interest. Financial assets cLassrfEd as re1vable within one year are not amortised. Basic financial Ilablllties Basic financial IAbilrtEs. induding creditors and bank loans are inrtBIty recoJnised at transaction Pri unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interesL Finanaal liabilits'es classified as payable within one year are not amorb'sed. Trade creditors are obligations to pay for gwds or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classifEd as current liabilth'es rf payment is due Wbthin one year or less. If not. they are Pres ented as non-current liabilrties. Derncognltion of Ilnanclal Ilabilities Financial liabilities are derecogntsed when the charitable company's contractual obligations expire or a discharged or cancelled. 1.11 Taxation Herts Mind Network Ltd is a registered charty and is exempt from corporatbon tax on its income and gains to the extent that they are applied to the charitsble obje¢tNes. No tax charge has arisen in the year. 1.12 Employee beneffts The costs of short term employee benefrts are recognised as a liability and an expense. The cost of any unused holiday entrtlement is recognised in the Per in which the employees, services are received. Termination beneffts are recogntsed immediately as an expense when the Charrtab company is demonstrably committed to teminate the empk)yrnent of an employee or to provKle termination beneffts. Herts Mind Network Ltd offers a contributory pension scheme to its empk)yees via The Pensions Trust ensionlrust or . Employees are auttrenrolled after three months. sepdice, unless they choose to opt out. Pension contributions payable under a defined contribution scheme are charged to the Statement of Financial Page 23 of 36
HERTS MIND NETWORK FOR THE YEAR ENDED 31 MARCH 202 5 Hertfordshire Activities in Ihe period to which they relate. There are rK> debt or deficrt implicatrons attached to historical participation in the scheme requiring disclosure in the accounts. 1.13 Irrecoverable VAT IeCOVerable VAT is allocated to the cost aSslated with the invoti on whh VAT is charged. 1.14 Gffts and Donatlon In Klnd Imiere goods or services are provided to the charrtable company as a donation that would nomially be purchased from suppliers, the contribution is included as an esb'mate based on commercial values. CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS In the application of the charrtable company's accounting policEs, the Board of Directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilthes that are not readily apparent from other sources. The estimates and asstxiated assumptions are based on historical expeneno and othef factors that are considered to be relevant Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the reViSn affects only that period, or in the period of the revisK)n and fut ure periods where the revision affects both currenl and future periods. DONATIONS AND LEGACIES Unrestricted funds 2025 Restricted funds 2025 Total Total 2025 2024 Donations and ifts acies receivable 12,549 2,500 15,049 18,284 30,833 2,500 33.333 43,606 21,143 64,749 18.284 CHARITABLE ACTIVITIES 2025 F(K ihe YeJi Ended 31 M¥ch 2025 CrMis Wellbem¢4 Ti•wy4 C•prt•l 2024 IrKome trorn ChTal xiiwTres 1.918.547 1.817.331 467.316 1.466.416 77.f22 .122 s..454 5.6a6,914 ly%s ty hJnd Urrfesthcied FuTrJs 21.471 49.714 163.849 5.791.fQ5 J)5.163 5.481.751 Restncied Funds 1.825.883 1.817.131 467.316 1.444.945 28.1x18 kn.122 L918.$47 1.817.331 467.316 L466.426 77.722 208.122 5.9SS.454 5.686.914 Included within Crisis Intervenb'on is a Grant in lQnd for rent of £92,664 for the year ended 31 March 2025 (£96,422 for the Year ended 31 March 2024) The total income received from government grants was £5,237.298 for the year ended 31 March 2025 (£5.026.824 for the year ended 31 March 2024) Page 24 of 36
HERTS MIND NETWORK FOR THE YEAR ENDED 31 MARCH 2025 Hertfordshire Network 2024 For the year ended 31 IA¥ch 21)24 Crisi5 C¢rry>i•x Weubeing & Training & Capital InteThention Meed5 Supp¢xt CounseUin8 Education Fundiftg 1580.447 I97. 467.316 1.722.582 112.414 206.169 Total 2024 5.686.914 Analysis by fund UnsCled FulS RestTicred 96A22 1.484.025 1,580,447 27.777 1.694.805 1.722.W2 205.163 5,481.751 5,686,914 I,597. 467,316 1.597.986 467.316 31.450 2(E,169 112.414 206.169 OTHER TRADING ACTIVITIES lunds 2025 25 2025 2024 OTHER INCOME ftjnds fvnds 2025 2024 Olh*r fflcorne Rental th¢orn• aftd Rooffl 39,90: .S59 Page 25 of 36
HERTS MIND NETWORK FOR THE YEAR ENDED 31 MARCH 2025 Hertfordshire Network CHARITABLE ACTIVITIES Crfsls C(Nnplex IiiieMniiM Neels Peer Sup Wellbelni& TralnlNI & C(wnseUlnK Educat Capltal Fundlni Total Staff co5 Other Staff Costs External FaciblOrS TTainin8 Recrurternent Travel .213 1.ty21.FA)5 )8,176 1.403.779 181,356 11.7 74.e4)4 3.546,377 397,542 20,393 io, 41.816 152.368 0 4.189,461 7,197 165 1463 631 551 29.527 978.704 15.9>1 29.541 325.686 L633.983 47 L153.757 77.351 Share ol sUprt cost515ee note 91 Share ol governare costs (see note 91 157,547 10.079 288 1.354,580 6.562 238,022 la850 4762,¢J63 ii. 121278 1555. 1350.ts2 l.M147 Analysis tyfund Unrestricted Furrtjs Restricted FdS ,315 1.159.827 1.250.142 1,282.761 372.249 1.272.429 3W49 1555. 1.457.534 128.850 4.304,529 8.850 S.762, 1.365,147 I..147 6.027 Note7 - Charftable Acll¥ltles-prv4lwsyearl20241 Cdsls Crynptex lThtef¥entlM Needs WellbelTrgl Tralnlng& Cwnseillng Ed¥caii( Capttal Fundlng Toial 2024 Supptyt Staff Costs Othei Staff Costs External Facibtators Tralning Recrurtement Travel 841.073 55.261 281.795 160 1.235.274 141.575 9.973 83.087 15,927 3.084,672 $09.832 10.386 12.724 30.798 186,122 413 4.617 287 50.224 99L615 6,918 89.371 i.0.058 16.869
)0.623 1.425.897 2.710 106.341 Share ol SUprt costs (see note 91 Share ol governance costs (see note 91 219.566 ioi.ffii 35.328 35.072 [509 1.146.791 811. 11.286 113.frfa7 347.>)9 1350294 11878 2.967 186 103.179 1.283,984 5.461 203,211 IW640 5,321.T29 Analysis tyfunij Unre5trlcted Funds Restricted Funds 96.422 1.150.087 1.2W509 1.135.tAo 347, 1.215.234 347. 1350.294 108.4Y) 13.696 ,186 1.339,972 108.640 3.981,757 108.640 5,321,729 1.146.791 1.146,791 BOARD OF DIRECTORS None of the Board of Directors (or any persons connected wrth them) received any mUneratIon or benefits from the charitable company during the year. Trustee expenses of £0 were incurred for the year ended 31 March 2025 (£311 for the pefiod ended 31 March 2024). Page 26 of 36
HERTS MIND NETWORK FOR THE YEAR ENDED 31 MARCH 2025 Hertfordshire Network SUPPORT COSTS 2021 Costs Co•ts Costs 275.830 98.424 118.210 394.OdO 239.919 102.822 112.741 Dprxi•Tion Prfjmis•• 5.180 103.604 78.813 119.791 22.0 441.886 22.375 447.515 246. 10.109 12.%1 259.611 278.610 12.079 293.274 12.079 10.409 Othtè RunThnOc AccountsfKy 33.375 1.757 150 35.132 39.828 41.924 2.8 150 Orh•r 91.985 54.023 146.IK$8 65.618 51.426 ).599 29.717 80.316 55.373 91.175 Cornrnuni¢o".'on¥ 62.337 89.705 3281 52.604 86.616 2.769 4.559 Leyl & Prote5$K•1 Morkopint E¥¥•fiM• 23.2U 7.224 24.468 16.926 891 17.817 19.020 14.40C 14.4Crf) 19.020 1.3$4.5 2.022 1.592,602 203J11 1.417,195 Ch•rit•bi• KtivitTr• 238.022 203.211 1 487 195 Support costs are apportioned based on estimaied time spenl on each actNty. 10. EMPLOYEES The average mnthly number of employees during Ihe year was: 2025 2024 Mnb•1 M¢•mb•r 2025 2024 3 957.919 -,42 87 781 3.103 rA 248 040 75.701 J NO.422 3427413 Total redundancy and tenninthon payments in the year amounted to £7.229 (2024.. £6,800) and lated to redundancy and Settment payments. Termination payments are recognised irnmediatety as an expense when the charty is demonstrably committed to terminate the employment of an employee or to provide termination payments. Page 27 of 36
HERTS MIND NETWORK FOR THE YEAR ENDED 31 MARCH 2025 Hertfordshire Network At the balance sheet date (31 March 2025). all payments in relatK)n to redundancy and terminatTron payments were paid within the year and no balance is included wrthin credrtors at the year end. The number of employees whose annual remuneration was more than £60,000 is as folluws: 2025 Number 2024 Number £80,000 - £90,000 £90,000 - £100,000 Remuneration of key management personnel The remuneration of key management personnd was as follo*VS'. 2025 2024 303 479 284 296 11. TAXATION The charity is exempt frorn taxats'on on its activities because all ts income is applied for charrtable purposes. 12. INTANGIBLE FIXED ASSETS UEC UEC Capltal Capltal Charlty Wellblng Fundlng Database Centre Assets TOTAL Cost At 1st April 2024 Additions 46.251 2.412 98.746 4.560 147.409 4,560 At 31st March 2025 46,251 2,412 103,306 151.%9 Amortlsatlon and Impalmient At 1st Apri12024 Amortisation charged forthe year 33,050 6,101 598 35,095 34.441 68.743 41.346 At 3tst March 2025 39,1 1,402 69,536 110.089 Carrylngamount As at 31st March 2025 7,100 1,010 33.770 41.880 As at 31st March 2024 13,201 1.814 63.651 78.666 Page 28 of 36
HERTS MIND NETWORK FOR THE YEAR ENDED 31 MARCH 2025 Hertfordshire 13. TANGIBLE FIXED ASSETS UEC UEC Ollke Capltal Capltal and flttin95 FundlTrg Wellblng Assets Centre nd and TOTAL Cost At 1st April 2024 Additions Disposals 62,544 66.586 11,718 57.666 152,850 5.254 27.731 93.175 15, 351.364 148,156 At 31st March 2025 61544 71.840 39,449 156.841 168,846 Arnortlsallon and Impalmient At 1st April 2024 Depreciation charged in the year Eiminaied in respect ol disposals 21,416 62,753 11.672 17.060 13.126 6,257 2.536 29.175 20.439 126,027 62.256 At 31st March 2025 27.6T3 66,602 14208 46,235 33,565 Caryingamount As at 31st March 2025 34,871 5,238 25,241 I10,fA 135,281 311,237 As at 31st March 2024 41,128 3,833 40.606 ,724 225,337 14. DEBTORS 2025 2024 Amountsfalllngdue wlthn one year. Trade Debtors Other Debtors Prepayments & accrued income 56,313 9.523 94.612 1,027,779 8,863 108.591 160.448 1,145,233 15. CREDITORS: AMOUNTS FALLING WITHIN ONE YEAR Amountsfalllng due wlthln one year. 2025 90,227 441,531 75.339 25.148 18,450 650.695 2024 66,975 1,588,825 252.016 8.473 21,005 1,937,294 (rtatIon aThJ social se&ty Dèlèned in Ir¢te 16) Tradè crnditors ¢CredItorS Ac(ML% deÈffed irrorr Page 29 of 36
HERTS MIND NETWORK
FOR THE YEAR ENDED 31 MARCH 2025
Herrfordshire
16. DEFERRED INCOME
2025
441.531
2024
1,588,825
Deferred Grant Income
17. RESTRICTED FUNDS
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject
to specffic condrtions by donors as to how they may be used.
Ployèment In Funds
Re5our¢es
Funds
Resouicts Transr5 Balar
HERTS MIND NETWORK FOR THE YEAR ENDED 31 MARCH 2025 Hertfordshire Network 20. OPERATING LEASE COMMITMENTS Lessee At the reporting end date, the charitable company had outstanding commitments for future minimurn lease payments under non -cancellable operating leases. which fall due as follows.. 2025 2024 Wrthin one year Beeen tsvo and fve years 61,373 57.938 60,000 61,373 117.938 21. RELATED PARTY TRANSACTIONS Remuneration of key manag•m•nt personnel The remuneration of key management personnel was as follows: 2025 2024 Aggregate c(*npensatK 303.479 284.295 22. GUARANTEE Herts Mind Network is a Company Limited by Guarantee. Each director provides a guarantee limited to £10 which would be payable in the event the Company is wound up. 23. ANALYSIS OF CHANGES IN NET FUNDS The charitable company had no material debt during the year. Page 31 of 36
HERTS MIND NETWORK FOR THE YEAR ENDED 31 MARCH 202 5 Herrfordshire Network 24. CASH GENERATED FROM OPERATIONS 2025 2024 Surplus for the year 365.077 560.947 Adjuslmenls for Amortisalion and impairment of inlangible assels 40.553 41.346 62.256 Depreciation and impaifment of tangible red assets 42.408 Movements in working capital. Decreasel(increase) in debtors Increase in credilors {Deciease)fincrease in deferred income 984.785 (139,305) (1,147.294) 30.513 97.348 {77.989) Cash generated from operations 166.866 693,780 25. PLANNED MERGER Herts Mind Network and The Sadie Centre merged as of 1 91 April 2025. This signrficant milestone marks the start of a new chapter, as we join forces to create a stronger, more resilient organisation. We expect year one lo be a period of financial consolidation , enabling us to grow our unrestricted incorne in future years. Page 32 of 36
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