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← The Brain Charity

2025-03-31-accounts

Charity registration number 1114999 (England and Wales)

Company registration number 05741930

THE BRAIN CHARITY

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

THE BRAIN CHARITY

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Emeritus Professor G A Baker
V Boateng
M Burquest
Professor W Chambers
I Craig
Dr P Moore
M Rea
R Rahman
J Sale
Dr N Silver
T G Walsh
Secretary M Burquest
Charity number (England and Wales) 1114999
Company number 05741930
Registered office Norton Street
Liverpool
Merseyside
L3 8LR
Auditor Mitchell Charlesworth (Audit) Limited
Suites C,D,E, & F
14th Floor The Plaza
100 Old Hall Street
Liverpool
L3 9QJ

THE BRAIN CHARITY

CONTENTS

Page
Trustees' report 1 - 5
Independent auditor's report 6 - 10
Statement of financial activities 11
Balance sheet 12 - 13
Statement of cash flows 14
Notes to the financial statements 15 - 32

THE BRAIN CHARITY

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 31 MARCH 2025

The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice in preparing the annual report and financial statements of the charity.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 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 (FRS 102)" (effective 1 January 2019).

Objectives and activities

Activities

The Brain Charity offers practical help, emotional support and social activities to anyone with a neurological condition and to their family, friends and carers.

We offer a range of services including counselling, employment support, welfare benefits advice, support for carers, social activities and a national information and advice service.

Mission, Values and Strategic Objectives

Our Mission

Our mission is to enable all those affected by neurological conditions to live longer, healthier, happier lives in an inclusive and fair society – a world where stigma, hardship and isolation are replaced by compassion, understanding and opportunity.

Our Values

Kindness We genuinely welcome everyone to our charity and believe that each person has a unique talent and the ability to make the world a better place.

Commitment We will travel side by side with everyone throughout their journey no matter how complex, how long or how difficult. We roll up our sleeves whenever and wherever we need to.

Authenticity We accept and understand that the broadness of our own diversity and personal experience impacts directly on the level of quality and passion delivered within our services.

Courage We will challenge the status quo, welcome change and bravely take on any new challenges in the spirit of adventure.

Optimism We believe that equality for people with neurological conditions is now within reach and we will strive each and every day until prejudice and lack of opportunity are removed from our society.

Our Current Strategic Objectives

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

THE BRAIN CHARITY

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Achievements and performance

The Brain Charity has delivered a good set of results in 2024/25. Our income has fallen slightly but we continue to manage our expenditure in line with our income generation and are satisfied with the financial outturn for the year. We are pleased to be entering the next year in a strong position, despite a continually challenging environment for the charity sector generally.

Due to limited funding, many charities with overlapping services have reduced their support, leading to more referrals to us. This added pressure, combined with rising hardship in our communities and uncertainty about government welfare for disabled people, has increased demand for our services greatly. As a result, clients now face a longer wait to access our essential services.

The Brain Charity is striving to find innovative ways to maintain and improve access to our services, including increasing the space we have available to provide counselling and support to our clients. Alongside our services provision, our community centre and its open-door policy is something we are immensely proud of. This ensures that, regardless of any delay to access our services, our local clients can always visit a safe accessible space and facilities, where they can be assured they can come and find kindness and community.

Our specialist Neuro Gym has continued to expand its reach and we are delighted to see the demonstrable impact on the physical, mental and social wellbeing of the people accessing this free-to-use facility.

Organisational buy-in to our new CRM has been really strong and consistent. In the future we look to further improve how we use it to measure our impact. We continue to embrace emerging technologies to support and enhance our services.

Finally, we were delighted to welcome Emeritus Professor Gus A Baker as our new Chair to the Board of Trustees during the year.

Our Year in numbers

Services

This year The Brain Charity has

We continued to work with 8 hospitals across The Liverpool City Region

Project based delivery

The Brain Charity continued to support jobseekers with skills and confidence for employment, including

Staff and volunteers

Communications

THE BRAIN CHARITY

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Fundraising

The Year ahead

Our CEO left the charity in July 2025. The charity’s very capable senior leadership team continue to run the charity on a day-to-day basis, with hands-on support from our dedicated board of trustees. Our brilliant staff are continuing the great work of the charity in this interim period, and we look forward to an exciting new future for this wonderful organization. Recruitment of a new CEO is well underway.

Once in post, the new CEO will lead the development of a new 5-year strategy for the charity, which will identify key priorities for the charity, coming into effect in 2026.

We will continue to enhance the services provided by our Neuro Gym, including specialist physiotherapy and building our personal training offer. As we move towards the third year of operation, we will focus on maintaining and improving facilities and ensuring the longevity of this valuable service .

We continue to experience pressure on space within our existing building. Thanks to a generous donation we will be creating additional space for service delivery.

Financial review

Despite the tough fundraising environment and feeling the effects of the ongoing cost of living crisis, the charity generated an overall surplus on the income and expenditure account.

An overall accounting surplus of £2,790 (2024: £76,654) has been set against the reserves. This comprises an operating deficit of £1,869 (2024: surplus £49,959) plus a gain on investments of £4,659 (2024: £26,695).

It should be noted that the operating deficit / surplus includes depreciation and amortisation totalling £42,922 (2024: £44,186) which did not impact the cash position. The performance on day to day operations before depreciation and amortisation showed a surplus of £41,053 (2024: £94,145).

During the year the charity spent £41,320 on repairing known issues with our roof. We received a grant from the Wolfson Foundation to cover this, for which we are most grateful. The charity also acquired computer software at a cost of £19,657 (2024: £8,550) and made improvements and purchased items of equipment at the Norton Street premises costing £21,736 (2024: £19,195).

The trustees are happy with this year's financial performance in the context of our long term strategy.

Reserves policy

The charity's reserves policy is designed to provide the charity with the financial flexibility to:

THE BRAIN CHARITY

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

Investment policy

The objective of the charity's investment policy is to provide adequate financial resources to support the achievement of the charitable objectives. The trustees are willing to incur a medium level of risks with a balanced strategy and annually revisit their capacity to incur risk.

The charity will not invest directly in tobacco or alcohol companies' shares.

Structure, governance and management Sub-committees

The board of trustees operates two sub - committees:

These sub-committees are made up of suitably qualified trustees and senior management and formally report back to the full board at each quarterly meeting.

Risk management

The charity maintains a risk register to identify any major issues which may affect the charity in order that it can assess the potential impact of these should they happen, and mitigate this where possible. The risk register uses a "Likelihood" v "Level of Impact" rating system to assess each perceived risk.

Governing document

The charity was incorporated on 14 March 2006 and registered as a charity on 30 June 2006. On 1 April 2007 all the assets and activities of Mersey Neurological Trusts, an associated charity, were transferred to the charity.

The charity is controlled by its governing document, its Articles of Association, and constitutes a private company limited by guarantee, incorporated under the Companies Act 2006 in England and Wales. In February 2020, new Articles of Association were unanimously approved by the board and filed with Companies House, having been brought up to date in accordance with current legislation and best practice.

The trustees who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Emeritus Professor G A Baker

V Boateng M Burquest Professor W Chambers I Craig Dr P Moore Dr J Picton (Resigned 25 June 2024) M Rea R Rahman J Sale Dr N Silver K E Swan (Resigned 9 April 2024) T G Walsh

THE BRAIN CHARITY

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

New Trustees

The Board is currently seeking new Trustees and would positively welcome applications from individuals from underrepresented groups and from people with neurological conditions.

Statement of Trustees' responsibilities

The trustees, who are also the directors of The Brain Charity for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

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

Auditor

In accordance with the company's articles, a resolution proposing that Mitchell Charlesworth (Audit) Limited be reappointed as auditor of the company will be put at a General Meeting.

The Trustees' report was approved by the Board of Trustees.

Emeritus Professor G A Baker Trustee

27 October 2025

THE BRAIN CHARITY

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF THE BRAIN CHARITY

Opinion

We have audited the financial statements of The Brain Charity (the ‘charity’) for the year ended 31 March 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

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

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the 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 conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

THE BRAIN CHARITY

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE BRAIN CHARITY

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of Trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

THE BRAIN CHARITY

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF THE BRAIN CHARITY

Extent to which the audit was considered capable of detecting irregularities, including fraud

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas:

(i) The presentation of the charity's Statement of Financial Activities, (ii) the charity's accounting policy for revenue recognition (iii) the overstatement of salary and other costs. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory framework that the charity operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act and the Statement of Recommended Practice - 'Accounting and Reporting by Charities' issued by the joint SORP making body .

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the charity’s ability to operate or to avoid a material penalty.

THE BRAIN CHARITY

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF THE BRAIN CHARITY

Audit response to risks identified

As a result of performing the above, we identified the presentation of the charity's Statement of Financial Activities, revenue recognition and overstatement of wages and other costs as the key audit matters related to the potential risk of fraud. The key audit matters section of our report explains the matters in more detail and also describes the specific procedures we performed in response to those key audit matters.

In addition to the above, our procedures to respond to risks identified included the following:

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

THE BRAIN CHARITY

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF THE BRAIN CHARITY

Louise Casey (Senior Statutory Auditor)

For and on behalf of Mitchell Charlesworth (Audit) Limited, Statutory Auditor

Accountants Suites C,D,E, & F 14th Floor The Plaza 100 Old Hall Street Liverpool L3 9QJ Date: 4 November 2025

Mitchell Charlesworth (Audit) Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

THE BRAIN CHARITY

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted
funds
2025
Notes
£
Income from:
Donations and legacies
3
460,766
Charitable activities
4
503,333
Other trading activities
5
243,714
Investments
6
68,298
Total income
1,276,111
Expenditure on:
Raising funds
7
305,819
Charitable activities
8
1,115,811
Total expenditure
1,421,630
Net gains/(losses) on
investments
13
4,659
Net income/(expenditure)
(140,860)
Transfers between funds
113,476
Net movement in funds
10
(27,384)
Reconciliation of funds:
Fund balances at 1 April 2024
1,022,440
Fund balances at 31 March 2025
995,056		 Restricted
funds
2025
£
-
497,872
-
-
497,872
9,783
344,439
354,222
-
143,650
(113,476)
30,174
46,490
76,664		 Total
Unrestricted
funds
2025
2024
£
£
460,766
494,834
1,001,205
569,260
243,714
195,162
68,298
84,618
1,773,983
1,343,874
315,602
281,213
1,460,250
1,092,952
1,775,852
1,374,165
4,659
26,695
2,790
(3,596)
-
76,272
2,790
72,676
1,068,930
949,764
1,071,720
1,022,440		 Restricted
funds
2024
£
-
496,939
-
-
496,939
6,050
410,639
416,689
-
80,250
(76,272)
3,978
42,512
46,490		 Total
2024
£
494,834
1,066,199
195,162
84,618
1,840,813
287,263
1,503,591
1,790,854
26,695
76,654
-
76,654
992,276
1,068,930

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

THE BRAIN CHARITY

BALANCE SHEET

AS AT 31 MARCH 2025

Notes
Fixed assets
Intangible assets
15
Tangible assets
16
Investments
17
Current assets
Debtors
18
Cash at bank and in hand
Creditors: amounts falling due within one year
19
Net current assets
Total assets less current liabilities
Provisions for liabilities
20
Net assets excluding pension liability
Net assets
The funds of the charity
Restricted income funds
23
General unrestricted funds
Designated funds
Total unrestricted funds		 2025
£
117,955
316,773
434,728
(386,234)
265,056
730,000		 £
25,236
688,918
350,572
1,064,726
48,494
1,113,220
(41,500)
1,071,720
1,071,720
76,664
995,056
1,071,720		 2024
£
90,718
254,238
344,956
(261,610)
292,440
730,000		 £
15,287
650,954
339,343
1,005,584
83,346
1,088,930
(20,000)
1,068,930
1,068,930
46,490
1,022,440
1,068,930

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2025.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

THE BRAIN CHARITY

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2025

The financial statements were approved by the trustees on 27 October 2025

Emeritus Professor G A Baker Trustee

Company registration number 05741930 (England and Wales)

THE BRAIN CHARITY

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2025

Notes
Cash flows from operating activities
Cash generated from/(absorbed by) operations
27
Investing activities
Purchase of intangible assets
Purchase of tangible fixed assets
Purchase of investments
Proceeds from disposal of investments
Investment income received
Net cash (used in)/generated from investing
activities
Net cash used in financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2025
£
(19,657)
(71,178)
(41,666)
35,097
68,298		 £
91,641
(29,106)
-
62,535
254,238
316,773		 2024
£
(8,550)
(19,195)
(64,227)
56,826
84,618		 £
(14,223)
49,472
-
35,249
218,989
254,238

THE BRAIN CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

Charity information

The Brain Charity is a private company limited by guarantee incorporated in England and Wales. The registered office is Norton Street, Liverpool, Merseyside, L3 8LR.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds can be used in accordance with the charity's objectives at the discretion of the Trustees.

Restricted funds are subject to specific conditions by funders as to how they may be used. Restricted funds can only be used for particular restricted purposes within the objectives of the charity.

Further explanations of the nature and purpose of each fund is included in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Where there are terms or conditions attached to incoming resources, particularly grants, then these terms or conditions must be met before the income is recognised as the entitlement conditions will not be satisfied until that point. Where terms or conditions have not been met or uncertainty exists as to whether they can be met then the relevant income is not recognised in the year but deferred and shown on the balance sheet as deferred income.

THE BRAIN CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been included in support costs and allocated to activities on a basis consistent with the use of resources.

1.6 Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Software 20% - 33% on cost

1.7 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation 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:

Freehold land and buildings in accordance with the property
Leasehold land and buildings 10% on cost
Plant and equipment 10% - 33% on cost
Fixtures and fittings 10% - 33% on cost
Computers 33% on cost
Mechanical and electrical installation 5% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.

Revaluation gains and losses are recognised in other recognised gains and losses and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in net income/(expenditure) or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and loss are recognised in net income/(expenditure) for the year.

THE BRAIN CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

Long leasehold property depreciation is kept under review and includes long leasehold land which is not depreciated as it is deemed to have an infinite useful economic life.

All classes of tangible fixed assets are included at cost and are reviewed annually for evidence of impairment when there is an indication that the value of the asset may have fallen below its recoverable amount by way of physical deterioration, obsolescence or other change. Where this is the case the value of the asset is written down to its recoverable amount. The recoverable amount of an asset is measured by reference to its net realisable value.

There is no de-minimis limit above which tangible fixed assets are capitalised.

1.8 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.9 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.10 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.11 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

THE BRAIN CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price 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 interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.12 Taxation

The charity is exempt from corporation tax on its charitable activities.

1.13 Provisions

Provisions are recognised when the charity has a legal or constructive present obligation as a result of a past event, it is probable that the charity will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in net income/(expenditure) in the period in which it arises.

1.14 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.15 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.16 Irrecoverable valued added tax

Any disallowed input tax incurred either forms part of the corresponding expended resource recognised within the Statement of Financial Activities or where appropriate is capitalised on the Balance Sheet as part of the cost of a fixed asset.

THE BRAIN CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other 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 revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Donations and legacies 460,766 494,834

4 Income from charitable activities

Other projects
Corporate
sponsorship
2025
2025
£
£
Charitable activities
158,056
503,333
Grants
339,816
-
497,872
503,333
Analysis by fund
Unrestricted funds
-
503,333
Restricted funds
497,872
-
497,872
503,333		 Total
Other projects
Corporate
sponsorship
2025
2024
2024
£
£
£
661,389
237,089
518,623
339,816
310,487
-
1,001,205
547,576
518,623
503,333
50,637
518,623
497,872
496,939
-
1,001,205
547,576
518,623		 Total
2024
£
755,712
310,487
1,066,199
569,260
496,939
1,066,199

THE BRAIN CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

5 Income from other trading activities

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Fundraising events 4,982 14,362
Other income 238,732 180,800
Other trading activities 243,714 195,162

6 Income from investments

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Rental income 51,275 70,808
Income from unlisted investments 10,247 10,380
Interest receivable 6,776 3,430
68,298 84,618

7 Expenditure on raising funds

Unrestricted
Restricted
funds
funds
2025
2025
£
£
Fundraising and publicity
Staging fundraising events
10,628
-
Other fundraising costs
12,776
-
23,404
-
Trading costs
Other trading activities
64,533
9,783
Staff costs
215,744
-
280,277
9,783
Investment management
2,138
-
Total costs
305,819
9,783		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
10,628
18,817
-
12,776
6,171
-
23,404
24,988
-
74,316
63,278
6,050
215,744
191,037
-
290,060
254,315
6,050
2,138
1,910
-
315,602
281,213
6,050		 Total
2024
£
18,817
6,171
24,988
69,328
191,037
260,365
1,910
287,263

THE BRAIN CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

8 Charitable activities

Other projectsOther projects Other projectsOther projects
2025 2024
£ £
Staff costs 684,771 786,132
Charitable expenditure 81,496 90,952
Public relations 39,509 12,890
805,776 889,974
Share of support costs (see note 9) 622,064 590,072
Share of governance costs (see note 9) 32,410 23,545
1,460,250 1,503,591
Analysis by fund
Unrestricted funds 1,115,811 1,092,952
Restricted funds 344,439 410,639
1,460,250 1,503,591
Support costs allocated to activities
2025 2024
£ £
Staff costs 339,832 331,652
Depreciation 42,922 44,186
Bank Charges 231 266
Sundries 85,708 68,151
Recruitment costs 2,863 2,493
Premises & other overheads 91,672 80,623
Office costs 11,436 7,900
Public relations 7,791 11,123
Postage and stationery 23,451 26,364
Irrecoverable Vat 16,158 16,034
Loss on disposal of fixed assets - 1,280
Governance costs 32,410 23,545
654,474 613,617
Analysed between:
Support costs 654,474 613,617

9 Support costs allocated to activities

THE BRAIN CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

10 Net movement in funds 2025 2024
£ £
The net movement in funds is stated after charging/(crediting):
Fees payable for the audit of the charity's financial statements 7,950 7,100
Depreciation of owned tangible fixed assets 33,215 39,661
Amortisation of intangible assets 9,707 4,525

11 Trustees

None of the trustees received any remuneration or other benefits for the year ended 31 March 2025 or for the year ended 31 March 2024.

The charity incurred expenses of £287 in relation to trustee activities in the year ended 31 March 2025 (2024: £73). These expenses were not reimbursed to trustees, but were paid directly to third parties on behalf of trustees. The expenses were in relation to travel £211 (2024: £73 to one trustee) and £76 as a contribution to a trustee's leaving meal.

12 Employees

The average monthly number of employees during the year was:

Management
Administration, finance, IT & HR
Carers' advocacy
Fundraising
Information and advice
Communications
Cafe and room hire
Employment, counselling and welfare
Young persons' projects
Training
Total
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2025
Number
3
6
2
2
11
3
1
5
1
2
36
2025
£
1,066,854
80,976
92,517
1,240,347		 2024
Number
4
6
4
2
10
1
2
7
1
1
38
2024
£
1,119,801
93,588
95,432
1,308,821

THE BRAIN CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

12 Employees (Continued)
The number of employees whose annual remuneration was more than £60,000 is as
follows:
2025 2024
Number Number
£60,001 to £70,000 1 -
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
2025 2024
£ £
Aggregate compensation 78,787 68,528

The key management personnel of the charity is considered to comprise of the Chief Executive only.

THE BRAIN CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

13 Net gains/(losses) on investments

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Revaluation of investments 4,593 26,084
Gain/(loss) on sale of investments 66 611
4,659 26,695

14 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

15 Intangible fixed assets

Intangible fixed assets
Software
£
Cost
At 1 April 2024 22,627
Additions 19,657
At 31 March 2025 42,284
Amortisation and impairment
At 1 April 2024 7,341
Amortisation charged for the year 9,707
At 31 March 2025 17,048
Carrying amount
At 31 March 2025 25,236
At 31 March 2024 15,287

THE BRAIN CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

16 Tangible fixed assets

Freehold land
and buildings
Leasehold land
and buildings
£
£
Cost
At 1 April 2024
570,901
50,000
Additions
43,724
-
Disposals
-
-
At 31 March 2025
614,625
50,000
Depreciation and impairment
At 1 April 2024
25,561
-
Depreciation charged in the year
13,445
-
Eliminated in respect of disposals
-
-
At 31 March 2025
39,006
-
Carrying amount
At 31 March 2025
575,619
50,000
At 31 March 2024
545,340
50,000		 Plant and
equipment
Fixtures and
fittings
£
£
94,271
47,608
14,470
9,174
-
-
108,741
56,782
79,379
47,608
10,372
2,145
-
-
89,751
49,753
18,990
7,029
14,892
-		 Computers Mechanical and
electrical
installation
£
£
94,492
119,654
3,810
-
(45,827)
-
52,475
119,654
94,492
78,931
1,270
5,983
(45,827)
-
49,935
84,914
2,540
34,740
-
40,722		 Total
£
976,926
71,178
(45,827)
1,002,277
325,971
33,215
(45,827)
313,359
688,918
650,954

THE BRAIN CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

16 Tangible fixed assets

(Continued)

Land held under long leasehold with an original cost of £50,000 (2023 - £50,000) is not depreciated.

The freehold property was revalued at 19 September 2018 by Keppie Massie Ltd, independent valuers not connected with the charity on the basis of market value. The valuation conforms to International Valuation Standards and was based on recent market transactions on arm's length terms for similar properties.

The property was revalued at £480,000 and this is deemed to be the value of the property at 31 March 2025 other than the subsequent property improvements included within additions.

17 Fixed asset investments

Cost or valuation
At 1 April 2024
Additions
Valuation changes
Disposals
At 31 March 2025
Carrying amount
At 31 March 2025
At 31 March 2024
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income		 Listed
investments
£
339,343
41,666
4,593
(35,030)
350,572
350,572
339,343
2025
2024
£
£
101,756
79,200
3,887
2,360
12,312
9,158
117,955
90,718

18 Debtors

THE BRAIN CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

19
Creditors: amounts falling due within one year
Notes
Other taxation and social security
Deferred income
21
Trade creditors
Other creditors
Accruals
20
Provisions for liabilities
Movements on provisions:
At 1 April 2024
Additional provisions in the year
At 31 March 2025		 2025
£
51,640
231,223
37,485
13,619
52,267
386,234
2025
£
41,500		 2024
£
53,142
139,232
19,474
14,532
35,230
261,610
2024
£
20,000
£
20,000
21,500
41,500

The charity has recognised a provision in respect of a number of disputes under employment law, for which the timing of any potential payments is not yet known.

21 Deferred income

Other deferred income
Deferred income is included in the financial statements as follows:
Deferred income is included within:
Current liabilities
Movements in the year:		 2025
£
231,223
2025
£
231,223		 2024
£
139,232
2024
£
139,232

THE BRAIN CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

21 Deferred income (Continued)
Deferred income at 1 April 2024 139,232 268,850
Released from previous periods (112,831) (251,588)
Resources deferred in the year 204,822 121,970
Deferred income at 31 March 2025 231,223 139,232
22 Retirement benefit schemes
2025 2024
Defined contribution schemes £ £
Charge to profit or loss in respect of defined contribution schemes 92,517 95,432

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

THE BRAIN CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

23 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

Balance at
1 April 2023
£
Carers' Advocacy Project
-
Dementia Project
-
Children & Young Person's Project
-
Directions
-
New Horizons
-
LCC Older Care Project (Peace of Mind)
-
Gym
22,199
Befriending - Counselling
-
TWO Employment
-
VOLA Employment
-
The Value of You
-
Digital Support - Multiply
-
Media Literacy - Safety Net
-
Talent Match
-
Information & Advice
-
Donation for meeting rooms
20,313
Wolfson Sustainability Fund
-
42,512		 Movement in funds
Incoming
resources
Resources
expended
£
£
104,818
(96,333)
6,750
(22,346)
22,968
(42,243)
29,950
(177)
86,110
(41,849)
6,729
(9,490)
51,092
(44,857)
18,688
(18,688)
-
-
-
-
18,616
(20,553)
-
-
39,935
(14,881)
55,525
(47,257)
55,758
(55,758)
-
(2,257)
-
-
496,939
(416,689)		 Transfers
Balance at
1 April 2024
£
£
(8,485)
-
15,596
-
19,275
-
(29,773)
-
(44,261)
-
2,761
-
-
28,434
-
-
-
-
-
-
1,937
-
-
-
(25,054)
-
(8,268)
-
-
-
-
18,056
-
-
(76,272)
46,490		 Movement in funds
Incoming
resources
Resources
expended
Transfers
Balance at
31 March 2025
£
£
£
£
112,010
(76,205)
(35,805)
-
-
-
-
-
55,500
(43,201)
(12,299)
-
-
-
-
-
-
-
-
-
-
-
-
-
128,106
(91,500)
(41,362)
23,678
9,950
(9,950)
-
-
41,898
(35,768)
(6,130)
-
38,076
(32,148)
(5,928)
-
-
-
-
-
9,763
-
(9,763)
-
-
-
-
-
7,284
(5,095)
(2,189)
-
45,702
(45,702)
-
-
-
(2,257)
-
15,799
49,583
(12,396)
-
37,187
497,872
(354,222)
(113,476)
76,664		 Movement in funds
Incoming
resources
Resources
expended
Transfers
Balance at
31 March 2025
£
£
£
£
112,010
(76,205)
(35,805)
-
-
-
-
-
55,500
(43,201)
(12,299)
-
-
-
-
-
-
-
-
-
-
-
-
-
128,106
(91,500)
(41,362)
23,678
9,950
(9,950)
-
-
41,898
(35,768)
(6,130)
-
38,076
(32,148)
(5,928)
-
-
-
-
-
9,763
-
(9,763)
-
-
-
-
-
7,284
(5,095)
(2,189)
-
45,702
(45,702)
-
-
-
(2,257)
-
15,799
49,583
(12,396)
-
37,187
497,872
(354,222)
(113,476)
76,664
76,664

THE BRAIN CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

24 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1
Norton Street
Centre
Building
improvements
and maintenance
General funds
Previous year:
At 1
Norton Street
Centre
Building
improvements
and maintenance
General funds		 April 2024
£
530,000
200,000
292,440
1,022,440
April 2023
£
530,000
100,000
319,764
949,764		 Incoming
resources
Resources
expended
£
£
-
-
-
-
1,276,111
(1,421,630)
1,276,111
(1,421,630)
Incoming
resources
Resources
expended
£
£
-
-
-
-
1,343,874
(1,374,165)
1,343,874
(1,374,165)		 TransfersGains
£
-
-
113,476
113,476
TransfersGains
£
-
100,000
(23,728)
76,272		 and losses
At 31 March
2025
£
£
-
530,000
-
200,000
4,659
265,056
4,659
995,056
and losses
At 31 March
2024
£
£
-
530,000
-
200,000
26,695
292,440
26,695
1,022,440		 and losses
At 31 March
2025
£
£
-
530,000
-
200,000
4,659
265,056
4,659
995,056
and losses
At 31 March
2024
£
£
-
530,000
-
200,000
26,695
292,440
26,695
1,022,440
1,022,440

Norton Street Centre

This is the unrestricted net book value of the freehold property and long leasehold land.

Building improvement and maintenance

The Board have undertaken a review of the Norton Street premises, which is over 25 years old and have identified and scheduled potential repair works which will be required to the building over the next ten years. The Trustees have agreed to designate a proportion of unrestricted income each year to provide for those future works. The Board believes £200,000 will cover the costs of these repairs.

THE BRAIN CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

25
Analysis of net assets between funds
Unrestricted
funds
2025
£
At 31 March 2025:
Intangible fixed assets
25,236
Tangible assets
612,254
Investments
350,572
Current assets/(liabilities)
48,494
Provisions
(41,500)
995,056
Unrestricted
funds
2024
£
At 31 March 2024:
Intangible fixed assets
15,287
Tangible assets
604,464
Investments
339,343
Current assets/(liabilities)
83,346
Provisions
(20,000)
1,022,440		 Restricted
funds
2025
£
-
76,664
-
-
-
76,664
Restricted
funds
2024
£
-
46,490
-
-
-
46,490		 Total
2025
£
25,236
688,918
350,572
48,494
(41,500)
1,071,720
Total
2024
£
15,287
650,954
339,343
83,346
(20,000)
1,068,930

26 Analysis of changes in net funds

The charity had no material debt during the year.

THE BRAIN CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

27
Cash generated from operations
Surplus for the year
Adjustments for:
Investment income recognised in statement of financial activities
(Gain)/loss on disposal of tangible fixed assets
Gain on disposal of investments
Fair value gains and losses on investments
Depreciation and impairment of tangible fixed assets
Movements in working capital:
(Increase)/decrease in debtors
Increase/(decrease) in creditors
(Decrease) in provisions
Increase/(decrease) in deferred income
Cash generated from/(absorbed by) operations		 2025
2024
£
£
2,790
76,654
(68,298)
(84,618)
-
1,280
(66)
(611)
(4,593)
(26,084)
42,922
44,186
(27,238)
85,620
32,633
(1,032)
21,500
20,000
91,991
(129,618)
91,641
(14,223)