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← The Mcpin Foundation

2025-03-31-accounts

REGISTERED COMPANY NUMBER: 06010593 (England and Wales) REGISTERED CHARITY NUMBER: 1117336

Report of the Trustees and Financial Statements for the Year Ended 31 March 2025

for

THE MCPIN FOUNDATION

Ark Accountancy Limited Chartered Certified Accountant & Statutory Auditor 56-58 High Street Ewell Epsom Surrey KT17 1RW

THE MCPIN FOUNDATION

Contents of the Financial Statements for the Year Ended 31 March 2025

Page
Report of the Trustees 1 to 8
Report of the Independent Auditors 9 to 12
Statement of Financial Activities 13
Balance Sheet 14
Cash Flow Statement 15
Notes to the Cash Flow Statement 16
Notes to the Financial Statements 17 to 27
Detailed Statement of Financial Activities 28 to 30

THE MCPIN FOUNDATION

Report of the Trustees

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 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

Objectives and aims

We want mental health to be better understood. We explore what it means to be an expert, valuing personal experience as well as professional practice and research skills. We create inclusive ways of working that encourage shared learning and impact. We lead, influence and shape research that deepens understanding of mental health issues and improves the lives of people and communities.

Mission: To improve everyone's mental health through research directed by lived experience expertise Vision: Our vision is a world where the value of lived experience of mental health issues is upheld and embraced, and is at the heart of all stages of research

The Foundation has an operational strategy 2023/2028.We are working with four strategic goals:

(1) To be a mental health research pioneer: innovating better research methods with a focus on lived experience expertise to progress a robust and inclusive knowledge base in mental health

(2) To achieve change through influencing and research impact: influence policy and practice to improve understanding of mental health and contribute to producing real changes that matter to the lives of individuals and communities

(3) To help people we are connected with to develop and flourish: placing an emphasis on personal growth and fulfilment across our networks, and providing a working environment that supports well-being

(4) To challenge inequality and injustice in society: prioritizing inclusive research work that combats inequality, discrimination, racism and oppression

Page 1

THE MCPIN FOUNDATION

Report of the Trustees

for the Year Ended 31 March 2025

OBJECTIVES AND ACTIVITIES Significant activities

Pioneering mental health research

Our goal is to maintain a balanced and sustainable portfolio of work across three key areas: influencing the work of others and building a strong and diverse sector; supporting others to deliver patient and public involvement (PPI) in research well; delivery of research and evaluation projects, including the employment of people with personal experience of mental health issues in project teams. Our model of work is to build collaborations and partnerships with others, both mental health specialists and those whose work relates to mental health. Highlights from each team are provided below:

Operations: We moved to new office premises in July 2024, so we are now based in Bethnal Green. We have been running our JEDI Forum - Justice, Equity, Diversity and Inclusion - regularly and continue to develop our well-being support offer. We recruited 8 new members of the team during 24/25 and began the process to recruit two more staff positions. Only two staff members left during 24/25. We also began to prepare for a salary consultation process, with a new offer agreed by Trustees March 2025. We continue to embed Breathe HR into the organisation, develop our mentoring offer and encourage seek out more training opportunities. We also recruited three new Trustees with two-stage interviews held December 2024 and February 2025.

Our influence

Our influence continues through working partnerships with a wide range of other organisations and membership of networks including the Alliance of Mental Health Research Funders, Young People's Mental Health Coalition, and advisory group membership with UKRI and Rethink Mental Illness. We have links to academic teams around the country and have spoken about our work at conferences including a plenary presentation in Versailles, France. There is ongoing promotion of our core message - the importance of expertise from experience - across a range of communication channels including our e-newsletter, website, social media and new external training programme linked to our 10 for 10 resources.

Our supporter base

Our McPin involvement network is growing into a thriving community of people interested in and doing patient and public involvement (PPI) work. Our young people's network continues to grow. We engaged 225 different people with lived experience in groups and workshops to shape mental health research.

Page 2

THE MCPIN FOUNDATION

Report of the Trustees

for the Year Ended 31 March 2025

OBJECTIVES AND ACTIVITIES

Funding research

We part-funded a PhD studentship at UCL (25%), exploring wellbeing among academics. The resource to set-up the peer research academy including the funding of peer PhDs, requires more work before this initiative can be launched We do still co-chair the Alliance of Mental Health Research Funders and have joined the International Alliance of Mental Health Research Funders. We host the Words that Carry On - Lindsay's legacy fund which has commissioned a research study from City University exploring personality disorders and autism, and includes a PhD studentship concluding March 2025 (extended by 6 months).

Our sustainability

OBJECTIVES AND ACTIVITIES

Our current business model means that we are primarily dependent on grant income. We generate very little income through fundraising. It remains an ambition for the Foundation to generate matched funding for our peer research academy plans.

Public benefit

The trustees believe that they have complied with their duties as described under the Charities Act 2011. The Foundation works with partners to improve the delivery of mental health research, develop the sector, and through its own activities seek to achieve change and growth to benefit public wellbeing. In particular, the Foundation is focused on placing experts from experience (people with experience of managing a mental health issues or their relatives / friends in roles of carer) at the heart of mental health research activities from design, delivery through to dissemination of findings including knowledge transfer and implementation planning.

Page 3

THE MCPIN FOUNDATION

Report of the Trustees

for the Year Ended 31 March 2025

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

In our 2023/2024 accounts we set out the aims we wanted to achieve by year end 31st March 2025. We outline progress against each activity below

-Develop an impact and influencing strategy and encourage all staff to identify potential in project work to impact more directly policy, the research ecosystem, and local communities

We appointed a new role into the charity - our head of strategy, impact and partnerships - which enabled us to review our strategy and direction. We agreed to delay the writing of an impact and influencing strategy until after a full review of current activities and partnerships was complete. The strategy design group completed their work in February 2025. Alongside this staff have been identifying opportunities for influencing including through parliamentary events. Our Peer Action Collective project has presented work on school exclusions and mental health to the Department of Education and hosted Janet Daby MP in January 2025 at a youth-led event in Tottenham, London.

We appointed a part time (0.8 FTE) digital communications officer to lead the TYPPEX dissemination work which has included a study website re-fresh and bespoke outputs including videos with therapists. This officer post is creating animations including the SPHR PPI programme charter and infographics to support events like the Prix Galien in 2025. Our neuroscience work is progressing with a partnership with other charities led by academics at Newcastle University.

We appointed two research and training managers in 24/25 (1.4 FTE) to develop a new external training function. This team have run a PPI cohort course for university based researchers, delivered training commissioned by Women in Prison, designed and run a youth peer research course for people in our YPAGs, and delivered several other external training commissions.

We are committed to developing the inclusive culture of our organisation and have taken on specific projects to address and spotlight inequalities. The Co-PICS study is one example funded by NIHR exploring psychosis, multi-morbidity and inequalities in healthcare systems. Internally the JEDI forum is more established. We have also been trying some different types of approaches - such as our work exploring Black youth experiences in London of how music and mental health are interlinked. This is a black youth led project combining research and activism skills to produce a zine (will be ready Autumn 2025). We have also commissioned an external organisation to do another piece of work with us to keep progressing the development of our organisation culture within a lived experience organisation.

-Deliver commissioned projects including Peer Action Collective, Mind self-supported help evaluation, SUNRISE, Citizen Science review, running PPI programmes in CONNECT, ASCEnD, STOP, Community Navigators2, Co-PICS, IMAT, SASH and E-Risk.

We are on track delivering all our commissioned projects. The Peer Action Collective completes in Sept 2025 and is moving into the final phase of social action building upon 2 research studies. The self-supported help evaluation co-delivered with IPSOS MORI is finalising the internal report for Mind. SUNRISE has an extension until September 2025 and Citizen Science was delivered within the 4 month brief; both are funded by RFP within Wellcome. Most of our PPI groups are on-going with the exception of STOP which ended march 2025 although we hope to sustain through follow-on studies.

Fundraising activities

We had no McPin core fundraising activities; our fundraising income was £0 (2024: 0).

Page 4

THE MCPIN FOUNDATION

Report of the Trustees

for the Year Ended 31 March 2025

FINANCIAL REVIEW

Financial position

Our overall position remains positive with reserves at 31 March 2025 of £2,542,729 (2024 £2,307,960).

The Foundation received donations and gifts in the year totalling £348,885 (2024 £1,788) and the surplus for the year was £234,769 (Deficit 2024: £51,120). This is after an unrealised gain of £95,040 (2024 gain £74,177) on investments, which are deducted from the accumulated fund, leaving a balance to be carried forward of £2,542,729..

Principal funding sources

Major contracts and agreements for funding of research projects are shown in note 5 to the accounts

Reserves policy

McPin's policy is to hold enough reserves to cover all project commitments, along with 12 months of running costs. In addition, we believe beneficiaries are best served through the existence of a specialist mental health research charity working to champion expertise by experience in all aspects of research, which requires contingency reserves because we have no donor base and uncertain contract income. The reserves policy requires reserves of approximately £2m plus contingency funding for long term sustainability.

Project commitments include: the setting up of a peer research academy using a tied donation made in 2017; WTCO funding for research projects; resourcing our two final 10 for 10 resources based on learning at McPin over 10 years, as well as dissemination plan; developing our LEAPs and YPAGs, training peer researchers at McPin.

Going concern

The trustees have considered going concern, and are satisfied that under current plans, the charity can continue to operate as a going concern.

FUTURE PLANS

We are committed to developing the mental health research sector, looking for opportunities to increase the number of experts by experience who work with us, and supporting their career development. The Foundation has been operating for 11 years as a mental health research specialist charity. We are committed to developing the charity, and working closely with our management team to decide how best to do so. We do have some changes in the senior leadership team.

Page 5

THE MCPIN FOUNDATION

Report of the Trustees

for the Year Ended 31 March 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

A Meadows was appointed in 2009, E Harding in 2013 , C. Chilvers in 2017 and four new trustees joined 19/3/2019 R McCabe, C Lodge, N Cope and C Benari. Nick McNally was appointed on the formation of the Foundation. A further four Trustees joined 27/1/2021 L Anstey, R Dore, N Ali and L Karageorghis. Their backgrounds enable the Foundation to develop its research and PPI (patient and public involvement) in research programmes, provide the right skills and experience essential to good governance and charity development.

Trustees meet formally three times a year, but are in regular contact between meetings. They also meet for strategy days with the McPin team. In 2024-2025 there were 2 formal meetings: July and November 2024. We had two other meetings in February (25/2) and March (28/3) 2025, ahead of a formal trustee meeting in April 2025. The February session was to consider the proposed pay review and the march meeting was in person to meet new trustees, provide an overview of our governance processes and again to consider the pay review process. The Trustees are trustees for the purpose of charity law and directors for the purpose of company law.

Organisational structure

Dr Vanessa Pinfold was appointed as Research Director for the charity on 1st April 2014. She leads and manages the charity reporting to the Independent Trustee Group (ITG). The ITG is chaired by Nathan Cope, and full membership is open to all un-related trustees to the McNally or Pinfold family, although it is currently a smaller group with membership A Meadows, L Anstey, C Benari and L Karageorghis. The research director prepares regular reports to the trustees and attends board meetings. The staff are organised into four structural teams (research, public involvement in research, communications, and organisational support) but mostly work as project teams bringing together expertise from across our staffing resource. Our work requires us to operate flexibility and therefore we have a core group of staff supplemented by contracted employees working on short fixed term contracts. During the reporting period we had 28 people working as staff on payroll (21 FTE) and we worked with 254 LEAP members/ consultants / advisors.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

06010593 (England and Wales)

Registered Charity number

1117336

Registered office

Unit 1.4 The Green House Cambridge Heath Road London E2 9DA

Trustees

Clair Evelyn Chilvers Chair, Mental Health Research UK (resigned 28.6.24) Nicholas James McNally Chair, McPin Foundation Amy Meadows Meadows Comms/Cavendish Square Group Colby Ellen Benari Freelance Education Consultant Rose McCabe Professor City University Nathan Frank Cope Chief Operating Officer, Otsuka Alexia Elena Karageorghis Research psychologist (resigned 29.11.24) Rhys Matthew Dore Academic Fellow in Clinical Genetics Laura Jane Anstey NHS chief of staff Naheen Nazmin-Nahar Ali Researcher (resigned 20.2.25)

Company Secretary

Malcolm James Johnston

Page 6

THE MCPIN FOUNDATION

Report of the Trustees

for the Year Ended 31 March 2025

REFERENCE AND ADMINISTRATIVE DETAILS Auditors

Ark Accountancy Limited Chartered Certified Accountant & Statutory Auditor 56-58 High Street Ewell Epsom Surrey KT17 1RW

Solicitors

Womble-Bond Dickenson 4 More London Riverside London SE1 2AU

Principal Bankers

The Co-operative Bank 1 Balloon Street Manchester, M60 4EP

Investment Managers

Blackrock Investment Management (UK) Limited 12 Throgmorton Avenue London, EC2N 2DL

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of THE MCPIN FOUNDATION for the purposes of company law) are responsible for preparing the Report of the Trustees 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. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view 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 charitable company for that period. In preparing those financial statements, the trustees are required to

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

In so far as the trustees are aware:

Page 7

THE MCPIN FOUNDATION

Report of the Trustees

for the Year Ended 31 March 2025

AUDITORS

The auditors, Ark Accountancy Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 12 December 2025 and signed on its behalf by:

Nicholas James McNally - Trustee

Page 8

Report of the Independent Auditors to the Members of THE MCPIN FOUNDATION

Opinion

We have audited the financial statements of THE MCPIN FOUNDATION (the 'charitable company') for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the 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 charitable company'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 trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether 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.

Opinions on other matters prescribed by the Companies Act 2006

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

Page 9

Report of the Independent Auditors to the Members of THE MCPIN FOUNDATION

Matters on which we are required to report by exception

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

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Page 10

Report of the Independent Auditors to the Members of THE MCPIN FOUNDATION

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

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

To address the risk of fraud through management bias and override of controls, we - performed analytical procedures to identify any unusual or unexpected relationships;

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

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

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

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Page 11

Report of the Independent Auditors to the Members of THE MCPIN FOUNDATION

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Mary E Ryan (Senior Statutory Auditor) for and on behalf of Ark Accountancy Limited Chartered Certified Accountant & Statutory Auditor 56-58 High Street Ewell Epsom Surrey KT17 1RW

12 December 2025

Page 12

THE MCPIN FOUNDATION

Statement of Financial Activities for the Year Ended 31 March 2025

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
4
Enhancing mental well-being
Investment income
3
Other income
Total
EXPENDITURE ON
Charitable activities
5
Enhancing mental well-being
Net gains on investments
NET INCOME/(EXPENDITURE)
Transfers between funds
19
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
430,532
21,337
51,341
514
503,724
316,011
95,040
282,753
(22,081)
260,672
1,547,193
1,807,865		 Restricted
funds
£
320
1,024,316
6
5,707
1,030,349
1,078,333
-
(47,984)
22,081
(25,903)
760,767
734,864		 31.3.25
Total
funds
£
430,852
1,045,653
51,347
6,221
1,534,073
1,394,344
95,040
234,769
-
234,769
2,307,960
2,542,729		 31.3.24
Total
funds
£
1,788
884,752
34,716
49,159
970,415
1,095,712
74,177
(51,120)
-
(51,120)
2,359,080
2,307,960

The notes form part of these financial statements

Page 13

THE MCPIN FOUNDATION

Balance Sheet

31 March 2025

31.3.25 31.3.24
Unrestricted Restricted Total Total
funds funds funds funds funds
Notes £ £ £ £
FIXED ASSETS
Tangible assets 12 8,677 - 8,677 3,584
Investments 13 1,508,782 - 1,508,782 1,457,480
1,517,459 - 1,517,459 1,461,064
CURRENT ASSETS
Debtors 14 248,380 - 248,380 178,641
Cash at bank 243,743 734,864 978,607 732,365
492,123 734,864 1,226,987 911,006
CREDITORS
Amounts falling due within one year 15 (137,717) - (137,717) (64,110)
NET CURRENT ASSETS 354,406 734,864 1,089,270 846,896
TOTAL ASSETS LESS CURRENT
LIABILITIES 1,871,865 734,864 2,606,729 2,307,960
CREDITORS
Amounts falling due after more than one year Amounts falling due after more than one year
16		 (64,000) - (64,000) -
NET ASSETS 1,807,865 734,864 2,542,729 2,307,960
FUNDS 19
Unrestricted funds 1,807,865 1,547,193
Restricted funds 734,864 760,767
TOTAL FUNDS 2,542,729 2,307,960

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

The financial statements were approved by the Board of Trustees and authorised for issue on 12 December 2025 and were signed on its behalf by:

Nicholas James McNally - Trustee

The notes form part of these financial statements

Page 14

THE MCPIN FOUNDATION

Cash Flow Statement
for the Year Ended 31 March 2025
Notes
Cash flows from operating activities
Cash generated from operations
1
Tax paid
Net cash provided by/(used in) operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Dividends received
Net cash provided by investing activities
Cash flows from financing activities
Investment charges
Net cash provided by financing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
2
Cash and cash equivalents at the end of
the reporting period
2		 31.3.25
£
144,764
17,500
162,264
(10,087)
7,609
43,738
41,260
43,738
43,738
247,262
731,345
978,607		 31.3.24
£
(233,225)
-
(233,225)
-
6,810
27,906
34,716
-
-
(198,509)
929,854
731,345

The notes form part of these financial statements

Page 15

THE MCPIN FOUNDATION

Notes to the Cash Flow Statement for the Year Ended 31 March 2025

1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

OPERATING ACTIVITIES
31.3.25 31.3.24
£ £
Net income/(expenditure) for the reporting period (as per the
Statement of Financial Activities) 234,769 (51,120)
Adjustments for:
Depreciation charges 4,994 2,659
Gain on investments (95,040) (74,177)
Interest received (7,609) (6,810)
Dividends received (43,738) (27,906)
Increase in debtors (87,239) (36,169)
Increase/(decrease) in creditors 138,627 (39,702)
Net cash provided by/(used in) operations 144,764 (233,225)
2. ANALYSIS OF CASH AND CASH EQUIVALENTS
31.3.25 31.3.24
£ £
Notice deposits (less than 3 months) 978,607 732,365
Overdrafts included in bank loans and overdrafts falling due within one year - (1,020)
Total cash and cash equivalents 978,607 731,345
3. ANALYSIS OF CHANGES IN NET FUNDS
At 1.4.24 Cash flow At 31.3.25
£ £ £
Net cash
Cash at bank 732,365 246,242 978,607
Bank overdraft (1,020) 1,020 -
731,345 247,262 978,607
Total 731,345 247,262 978,607

The notes form part of these financial statements

Page 16

THE MCPIN FOUNDATION

Notes to the Financial Statements

for the Year Ended 31 March 2025

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

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 allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Allocation and apportionment of costs

Costs are allocated and apportioned in accordance with the terms of each contract or agreement

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 25% on reducing balance Computer equipment - 25% on cost

Taxation

Under the provisions of the Corporation Tax Act 2010, and the Taxation of Chargeable Gain Act 1992, the company is not subject to taxation, on the grounds that it is a registered charity and its income is applied solely for charitable purposes..

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of material funds is included in the trustees' report.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Investment income, donations and similar incoming resources

Investment income, donations and similar incoming resources are accounted for on an accruals basis.

continued...

Page 17

THE MCPIN FOUNDATION

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

1. ACCOUNTING POLICIES - continued

Investment income, donations and similar incoming resources

Donated services are included in the Statement of Financial Activity, where the benefit to the charity is reasonably quantifiable, measurable and material, as incoming resources and resources expended. They are valued at the amount that the Charity would have to pay to acquire them at the time of the donation.

2. DONATIONS AND LEGACIES

Donations
Gift aid
3.
INVESTMENT INCOME
Other fixed asset invest - FII
Deposit account interest		 31.3.25
£
344,796
86,056
430,852
31.3.25
£
43,738
7,609
51,347		 31.3.24
£
1,788
-
1,788
31.3.24
£
27,906
6,810
34,716

continued...

Page 18

THE MCPIN FOUNDATION

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

4. INCOME FROM CHARITABLE ACTIVITIES

Contracted Services, Agreements & Consultancy
University of Manchester- Connect
Bristol University - School of Public Health MH programme
Oxford University - CoPics
Youth endowment fund -Peer Action Collective
Maudsley Charity - MC Psychosis
CYP work (various)
Research Team Work (various)
University of Cambridge - Typpex
University of Birmingham - IMH Birmingham
Newcastle University - Ascend
UCL -Community Navigators - loneliness
Crisis - Psychology services evaluation
University of Oxford - Oxford BRC
University of Cambridge - Philm
Aston University - agency & MH
University of Oxford - Feeling safer
MIND self - supported help programme
Words that carry on: Lindsay's fund
Kings College London - STOP
The Francis Crick Institute - IMAT
University of Birmingham - MH Influencers
University of Edinburgh - Metabolic Psychiatry hub UKRI
Wellcome SER
University of Birmingham - Mental Health Mission
Sheffield University - Silvercloud Sheffield
Sheffield Health NHS Trust - Complex Emotions Sheffield
Other		 31.3.25
37,613
74,316
94,613
190,218
5,800
2,318
53,569
30,955
6,275
17,820
40,633
12,420
10,477
12,960
16,515
20,588
49,734
2,937
24,119
50,686
46,086
11,618
48,852
32,000
16,734
17,454
118,346
1,045,656		 31.3.24
32,512
42,480
69,430
96,667
23.400
27.452
43.493
29.462
34.601
26.445
38.764
24,118
18,750
32,850
20,477
38,347
49,734
1,020
32,313
0
0
0
0
0
0
0
212.514
884.752

5. CHARITABLE ACTIVITIES COSTS

Enhancing mental well-being Direct
Costs
£
870,554		 Grant
funding of
activities
(see note
6)
£
171,784		 Support
costs (see
note 7)
£
352,006		 Totals
£
1,394,344

continued...

Page 19

THE MCPIN FOUNDATION

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

6. GRANTS PAYABLE

Enhancing mental well-being
The total grants paid to institutions during the year was as follows:
UCL
City, University of London
IPSOS
Peace Alliance
University of Birmingham
SUPPORT COSTS
Support costs allocated to general funds were as follows:
Management
Finance
Information technology
Human resources
Other/Comms
Governance
Total		 31.3.25
£
171,784
31.3.25
£
-
25,636
24,000
113,948
8,200
171,784
31.3.25
107,042
93,722
13,172
86,425
42,369
9.276
352,006		 31.3.24
£
95,313
31.3.24
£
12,992
-
24,000
58,321
-
95,313
31.3.24
90,526
52,162
2,081
39,612
10,260
7,960
202,601

7. SUPPORT COSTS

The support costs above are not funded by projects.

8. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

31.3.25 31.3.24
£ £
Auditors' remuneration 8,160 5,160
Depreciation - owned assets 4,994 2,659

continued...

Page 20

THE MCPIN FOUNDATION

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.

Trustees' expenses

Two trustees were reimbursed £116 for incidental expenses (2024 £23).

10. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Charitable activities & support staff
No employees received emoluments in excess of £60,000.
The FTE number of staff was 21 (2024 19)		 31.3.25
£
721,062
67,342
34,761
823,165
31.3.25
26		 31.3.24
£
630,077
61,381
29,810
721,268
31.3.24
22

11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Enhancing mental well-being
Investment income
Other income
Total
EXPENDITURE ON
Charitable activities
Enhancing mental well-being
Net gains on investments
NET INCOME/(EXPENDITURE)
Transfers between funds
Net movement in funds		 Unrestricted
funds
£
768
-
34,716
-
35,484
198,635
74,177
(88,974)
16,119
(72,855)		 Restricted
funds
£
1,020
884,752
-
49,159
934,931
897,077
-
37,854
(16,119)
21,735		 Total
funds
£
1,788
884,752
34,716
49,159
970,415
1,095,712
74,177
(51,120)
-
(51,120)

continued...

Page 21

THE MCPIN FOUNDATION

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

11.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
RECONCILIATION OF FUNDS
Total funds brought forward
1,620,048
TOTAL FUNDS CARRIED FORWARD
1,547,193
12.
TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£
COST
At 1 April 2024
15,495
Additions
-
At 31 March 2025
15,495
DEPRECIATION
At 1 April 2024
13,226
Charge for year
567
At 31 March 2025
13,793
NET BOOK VALUE
At 31 March 2025
1,702
At 31 March 2024
2,269		 - continued
Restricted
funds
£
739,032
760,767
Computer
equipment
£
7,615
10,087
17,702
6,300
4,427
10,727
6,975
1,315		 Total
funds
£
2,359,080
2,307,960
Totals
£
23,110
10,087
33,197
19,526
4,994
24,520
8,677
3,584

13. FIXED ASSET INVESTMENTS

All of the investments at 31 March 2025 are investments listed on a recognised stock exchange or held as common investment funds, unit trusts and other collective investment vehicles. Their historical price was £1,231,713 (2024 £1,231,713). The revaluation includes dividends and charges rolled up within the funds of £43,738 (2024 £27,906)

MARKET VALUE
At 1 April 2024
Disposals
Revaluation
At 31 March 2025
NET BOOK VALUE
At 31 March 2025		 Listed
investments
£
1,457,480
0
51,303
1,508,783
1,457,480

continued...

Page 22

At 31 March 2024

1,457,480

continued...

Page 22

THE MCPIN FOUNDATION

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

13. FIXED ASSET INVESTMENTS - continued

14.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25
£
Trade debtors
206,436
Other debtors
22,126
Tax
-
Accrued income
19,818
Prepayments
-
248,380
15.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25
£
Bank loans and overdrafts (see note 17)
-
Trade creditors
15,980
Social security and other taxes
17,229
Other creditors
1,839
Income in advance
94,509
Accrued expenses
8,160
137,717
16.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.25
£
Accruals and deferred income
64,000
17.
LOANS
An analysis of the maturity of loans is given below:
31.3.25
£
Amounts falling due within one year on demand:
Bank overdrafts
-		 31.3.24
£
105,677
45,578
17,500
-
9,886
178,641
31.3.24
£
1,020
1,340
14,375
2,228
39,987
5,160
64,110
31.3.24
£
-
31.3.24
£
1,020

continued...

Page 23

THE MCPIN FOUNDATION

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

18. LEASING AGREEMENTS

There are no annual commitments under operating leases. However the charity has 13 desks commuted and have to give 3 months' notice to give one up. They also have a desk deposit that will be returned when they leave.

19. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Restricted funds
Judi Meadows Memorial Fund
Other commissions under contract
The Peer Research Academy Fund
Community Navigator Study (loneliness)
AMHRF (Alliance)
Words that carry on: Lindsay's Fund
Research Team Work
School of Public Health Research
CYP Other
Birmingham Partnership
Agency & MH
Crisis
Maudsley Psychosis panel
TOTAL FUNDS		 At 1.4.24
£
1,547,193
13,169
18,322
604,767
10,080
1,457
47,991
18,124
350
24,466
22,041
-
-
-
760,767
2,307,960		 Net
movement
in funds
£
282,753
(384)
(9,260)
(10,137)
(20,157)
-
(22,519)
28,919
-
651
(2,743)
(1,389)
(10,393)
(572)
(47,984)
234,769		 Transfers
between
funds
£
(22,081)
-
-
-
10,077
-
-
-
(350)
-
-
1,389
10,393
572
22,081
-		 At
31.3.25
£
1,807,865
12,785
9,062
594,630
-
1,457
25,472
47,043
-
25,117
19,298
-
-
-
734,864
2,542,729

continued...

Page 24

THE MCPIN FOUNDATION

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

19. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Judi Meadows Memorial Fund
Other commissions under contract
The Peer Research Academy Fund
Community Navigator Study (loneliness)
Connecting people
Typpex
Feeling Safe
Words that carry on: Lindsay's Fund
Research Team Work
School of Public Health Research
CYP Other
UKRI Networks
Birmingham Partnership
Copics
Peer Action Collective
Mind self management
STOP
Agency & MH
Ascend
Crisis
PHILM
Oxford BRC
Maudsley Psychosis panel
Crick IMAT
MH Influencers
Wellcome SER
Mental Health Mission
Silvercloud Sheffield
Complex Emotions Sheffield
TOTAL FUNDS		 Incoming
resources
£
503,724
146
125,869
-
30,556
37,613
30,955
20,588
3,117
54,491
64,316
2,318
11,618
6,275
94,613
190,218
49,733
24,119
16,515
17,820
12,420
12,960
10,477
1,800
50,686
46,086
48,852
32,000
16,734
17,454
1,030,349
1,534,073		 Resources
expended
£
(316,011)
(530)
(135,129)
(10,137)
(50,713)
(37,613)
(30,955)
(20,588)
(25,636)
(25,572)
(64,316)
(1,667)
(11,618)
(9,018)
(94,613)
(190,218)
(49,733)
(24,119)
(17,904)
(17,820)
(22,813)
(12,960)
(10,477)
(2,372)
(50,686)
(46,086)
(48,852)
(32,000)
(16,734)
(17,454)
(1,078,333)
(1,394,344)		 Gains and
losses
£
95,040
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
95,040		 Movement
in funds
£
282,753
(384)
(9,260)
(10,137)
(20,157)
-
-
-
(22,519)
28,919
-
651
-
(2,743)
-
-
-
-
(1,389)
-
(10,393)
-
-
(572)
-
-
-
-
-
-
(47,984)
234,769

continued...

Page 25

THE MCPIN FOUNDATION

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

19. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
Restricted funds
Judi Meadows Memorial Fund
Other commissions under contract
The Peer Research Academy Fund
Community Navigator Study (loneliness)
AMHRF (Alliance)
Words that carry on: Lindsay's Fund
Research Team Work
School of Public Health Research
CYP Other
Birmingham Partnership
IMAT
TOTAL FUNDS		 At 1.4.23
£
1,620,048
13,169
-
667,085
-
1,457
46,971
-
10,350
-
-
-
739,032
2,359,080		 Net
movement
in funds
£
(88,974)
-
8,744
(25,541)
10,080
-
1,020
18,124
(10,000)
24,466
22,041
(11,080)
37,854
(51,120)		 Transfers
between
funds
£
16,119
-
9,578
(36,777)
-
-
-
-
-
-
-
11,080
(16,119)
-		 At
31.3.24
£
1,547,193
13,169
18,322
604,767
10,080
1,457
47,991
18,124
350
24,466
22,041
-
760,767
2,307,960

continued...

Page 26

THE MCPIN FOUNDATION

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

19. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Other commissions under contract
The Peer Research Academy Fund
Community Navigator Study (loneliness)
Connecting people
Typpex
Feeling Safe
Words that carry on: Lindsay's Fund
Research Team Work
School of Public Health Research
CYP Other
Birmingham Partnership
Copics
Peer Action Collective
Mind self management
STOP
Agency & MH
Ascend
Crisis
PHILM
Oxford BRC
Maudsley Psychosis panel
IMAT
TOTAL FUNDS		 Incoming
resources
£
35,484
234,444
-
38,767
32,511
29,462
38,347
1,020
59,389
42,905
29,302
34,601
69,430
96,667
49,733
32,313
20,477
26,445
24,118
32,850
18,750
23,400
-
934,931
970,415		 Resources
expended
£
(198,635)
(225,700)
(25,541)
(28,687)
(32,511)
(29,462)
(38,347)
-
(41,265)
(52,905)
(4,836)
(12,560)
(69,430)
(96,667)
(49,733)
(32,313)
(20,477)
(26,445)
(24,118)
(32,850)
(18,750)
(23,400)
(11,080)
(897,077)
(1,095,712)		 Gains and
losses
£
74,177
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
74,177		 Movement
in funds
£
(88,974)
8,744
(25,541)
10,080
-
-
-
1,020
18,124
(10,000)
24,466
22,041
-
-
-
-
-
-
-
-
-
-
(11,080)
37,854
(51,120)

20. RELATED PARTY DISCLOSURES

No trustee or person related to the charity had any personal interest in any contract or transaction entered into by the charity

V Pinfold (a founding director) made a donation of £340,000 (2024 £nil) to the charity during the year.

Page 27