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 Financ￿1 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 poI￿leS 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 wh￿h 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 SerVi￿S for 5-18 year okls. We create opportunities for Indiv￿uals 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 INTERVE￿rION 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 based approaches to help young people manage their mental health in a safe and expressive environment. Page 11 of 36 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 I￿19 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 pract￿￿1 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 iWe￿e-MOnth per￿￿ prov￿Ing.. 604 P*r 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 psychoeduCat￿nal 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 lon*term 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 mI￿stone 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 servI￿s, 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 appI￿￿on and deVelo￿ng 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, nO￿StatUtory 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 Se￿iceS 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 Sh￿t, 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 AC￿pted 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 r￿oUrces, for the year then ended Have been propedy prepared in accordan￿ with United Kingdom Generally Accepted Accounting Practice; and Have b￿n 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 cOn￿rn In auditing the financial statements, we have conduded that the directors. use of the going con￿rn basis of accounting in the p￿pardtsOn of the finanaal statements is appropriate. Based on the work we have perfornied, we have not identified any material un￿rtaIntieS ￿lating to events or conditions that, individually or collectively, may cast significant doubt on the charitsble CoMpan￿S 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 fO￿n 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 b￿n 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 debt or deficrt implicatrons attached to historical participation in the scheme requiring disclosure in the accounts. 1.13 Irrecoverable VAT I￿eCOVerable VAT is allocated to the cost aSs￿lated with the invoti on wh￿h 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 reViS￿n 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 Ch￿Tal 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 I￿97.￿ 467.316 1.722.582 112.414 206.169 Total 2024 5.686.914 Analysis by fund Un￿s￿Cled Fu￿lS 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 co￿5 Other Staff Costs External Facibl￿OrS 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 sUp￿rt cost515ee note 91 Share ol governar￿e 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 F￿dS ,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 SUp￿rt 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 D*prxi•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 M￿nb•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 Sett￿ment 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 (￿rta￿tIon 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 Trans￿r5 Balar All restricted funds are held for projects beirrfj undertaken to fulfil the charrtable obJ"ectives of the charty as stipulated by the funders. A detailed b￿akdO*Vn of the ￿StrICted funds can be found in the appendix to these accounts. 18. UNRESTRICTED FUNDS Balar￿e31 01.Api-23 Aesthjrces BalarKeai thcrrir Aesources Tiwsfers Bath￿e at OIApr.24 Resrwjrces E￿NIed 31-Maf-25 407. 317.251 11.457.$341 1,409.632. m,109 407. 317251 1.4S7.$34 1,409.632 6n,109 Urnestrtied F￿￿$ .441 41 IL339.9ni L139.9n 1.(*7.922 1.1*7.922 19. ANALYSIS OF NET ASSETS BETWEEN FUNDS UM•stricted FwKIs Aestricl•d Furyls ihwestricted Funds Restficted Fund$ 2024 Fundtslances ai 314arch are represenTeo DY. IntsTwOle Fixed Asseis lanEINe Fixea Asseis ,'ieizAsseTs/ lUa￿￿be$l 2025 7.IlY) 65.350 34.780 245.887 757.155 41.8ao 311.237 L361.814 13.201 45.007 349,552 65.465 78.fA6 180.330 225.337 .293 1.045,851 677.109 1.037.822 1.714.931 407.760 Page 30 of 36 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 Be￿een 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 r￿ed 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 8 8 8 8 glo go 2- 10 &0 f& 2U oz o? •u 7J< < • l)£ U I I I ¥ ¥ ¥ rr Ill 111