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← Mental Health Research UK

2024-03-31-accounts

Charity registration number 1125538

MENTAL HEALTH RESEARCH UK

and Linked Charity SCHIZOPHRENIA RESEARCH FUND

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

MENTAL HEALTH RESEARCH UK

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Professor Sir M Owen
Professor CED Chilvers (Resigned 14 April 2024)
Dr L A Davidson
Mr David Pugh
Lord David Neuberger
Dr Vanessa Pinfold
Mrs Anne Marie Johnson
Professor Peter Jones
Dr Wunmi Ademosu
Mr Andrew Paterson
Jessica Reihanifam (Appointed 7 July 2023)
Mr Matthew Roberts (Appointed 7 July 2023)
Victoria Morris (Appointed 7 November 2023)
Charity number 1125538
Principal address The White House
16 Glenfield Firth Drive
Glenfield
Leicester
LE3 8PQ
Independent examiner BK Plus Limited
6 Manor Park Business Centre
Mackenzie Way
Cheltenham
Gloucestershire
GL51 9TX

MENTAL HEALTH RESEARCH UK

CONTENTS

Page
Trustees report 1 - 5
Independent examiner's report 7
Statement of financial activities 8
Statement of financial position 9
Notes to the financial statements 10 - 16

MENTAL HEALTH RESEARCH UK

TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024

The Trustees present their annual report and financial statements for the year ended 31 March 2024.

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 Charities Act 2011 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

To protect and promote the health of the public by research into the nature, causes, diagnosis, prevention, treatment and cure of all forms of mental illnesses, and in particular the development of the research findings into practical applications for the prevention, treatment and cure of mental illnesses.

Public benefit

In reviewing our aims, objectives and planning future activities, the Trustees have taken into account the Charity Commission’s general guidance on public benefit. The Trustees ensure that the activities undertaken are always in line with the charitable objectives and aims of Mental Health Research UK and our linked charity the Schizophrenia Research Fund.

All the charitable activities for both charities are undertaken for the benefit of the public, in line with their founding objectives.

In furtherance of the primary objective:

We are fulfilling these objectives by:

MENTAL HEALTH RESEARCH UK

TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Achievements and performance

Awarding of Scholarships:

This year we awarded two new PhD Scholarships as follows:

  1. John Grace QC PhD Scholarship 2024. Six applications were received. After peer review, the Scholarship was awarded to Professor Graham Murray, Department of Psychiatry, University of Cambridge, Douglas House, 18B Trumpington Road, Cambridge.

Titled: Evaluation of large scale mobile PhOne based Cognitive assessment in first episode psychosis for research and clinical care (EPOC).

  1. Tom Palmer PhD Scholarship 2024. Twenty-four applications were received. After peer review, the Scholarship was awarded to Dr Jemma Lewis, UCL, Division of Psychiatry, 149 Tottenham Court Road, London

Titled: Investigating whether the mental health inequality between LGBTQ+ and heterosexual/cisgender adolescents varies between schools and identifying predictors of variation.

For more details of all our Scholarships click here to visit our website: https://www.mentalhealthresearchuk.org.uk/research.html#scholarshipsAwarded

We have eighteen Scholarships running at present, four at University College London; three each at Cardiff University, King’s College London; two at Cambridge University, and one each at University of Bristol, University of Manchester, Bath University, Oxford University, University of Sussex and University of Nottingham.

We also have two MD(Res) awards running at King’s College London.

Communication

Each year we organise a Scholars’ Day, where all those currently undertaking scholarships funded by the charity present their work to an audience consisting of trustees, volunteers and supporters of the charity. Our Scholars’ Day is now undertaken via Zoom, which allows more people to attend. The report and videos are shown on our website: https://www.mentalhealthresearchuk.org.uk/scholarsday/2024.html

Plans for future periods

We have recently reviewed our strategy for the next 5 years. This review was conducted by trustees, members of the scientific committee, supporters and experts by lived experience. We will continue to focus our funding on PhD scholarships to build mental health research capacity. We aim to increase our income to allow us to fund 5 scholarships per annum. To this end we have recruited trustees with expertise in marketing and fundraising. We have also commissioned new branding, created a new website and produced a strategic framework document to aid fundraising.

A vision of the future: what could MHRUK look like in 10 years’ time?

MENTAL HEALTH RESEARCH UK

TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Financial review

The total income for the year was £272,588 (2023: 113,884) and expenditure was £211,999(2023: £244,507). The current year also includes a profit on the value of the investments of £110,844 compared with a loss of £43,122 in 2023.

The result of the above was a gain for the year of £171,433. This is compared to a loss of £173,745 in the previous year. At the year end, the funds of the charity were £668,741, which is represented by £191,315 of undesignated funds, and £477,426 of designated funds.

Donations and Legacies

Apart from investment income, our income comes entirely from donations and legacies. The contribution made by our regular donors and fundraisers provides the basis of our income each year. Contributions from legacies and one-off donations from charitable trusts and individuals contribute variable amounts each year, leading to a volatile income stream.

Charitable Expenditure

The largest element of our charitable expenditure is the estimated cost of new scholarships awarded and the change in the expected costs of existing scholarships. The estimated costs of the scholarships commencing in 2024 are £111,785 for the John Grace QC PhD Scholarship and £108,136 for the Tom Palmer PhD Scholarship. Reductions to the estimated costs of existing scholarships are £19,146.

Our spending on Scholarships and Scholars’ Day, represents over 95% of our total expenditure when considered over a period of years.

Our expenditure profile is adjusted annually depending upon income by adjusting the number of Scholarships we award. All our Trustees realise that many of our donors appreciate the low cost base we have and that over 95% of our funds go towards research.

Current and Fixed Assets

Mental Health Research UK assets consist of both undesignated funds and funds designated to the Schizophrenia Research Fund (SRF). All SRF assets are held in an account with Rothschild Bank. We also hold assets in bank and interest-bearing accounts. Total assets at 31[st] March 2024 were £1,530,446.

Creditors

The amounts shown against creditors are almost entirely to cover our commitments to Scholarships that we are funding. Mental Health Research UK maintains close control over the funds it commits to Scholarships and its policy is not to award a Scholarship without having all the funds available for the full term of the grant award.

MENTAL HEALTH RESEARCH UK

TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Structure, governance and management

Mental Health Research UK is a Charitable Trust created by Deed on the 25th July 2008. The Schizophrenia Research Fund is a Charitable Trust created by Deed on the 20th November 1962. The charities were linked from the 20th May 2014.

Method of appointment / election of Trustees

When a new Trustee is appointed, either at the resignation of an existing Trustee or the need for additional skills to the Trustee board, this requires the agreement of all the existing Trustees.

Our recruitment process comprises the following stages and is designed as a two-way process between Mental Health Research UK and Trustee applicants:

Stage 1 : Potential candidates are invited to have a telephone conversation with our Chair of Trustees, Professor Sir Michael Owen.

Stage 2 : Short-listed applicants are then invited to a face-to-face interview with members of the board of Trustees. Stage 3 : Recruited Trustees will be invited to attend the first Trustee meeting as an observer, before confirming the appointment.

Organisation Structure and Decision Making

The Trustee Board is responsible for governance and strategy of Mental Health Research UK. 13 Trustees served on the board during the year and up to the date of signature of the financial statements. The board has full legal responsibility for the actions of Mental Health Research UK. Trustees are normally appointed for a renewable term of three years. The Board meets twice a year and is also responsible for the day-to-day running of the Charity.

Scientific Committee

The Scientific Committee assists with the award of Scholarships and other academic business. The Committee consists of the following:

Grant-making policies

We only make grants for PhD Scholarships after an advertised competition. Detailed applications are required and both scientific and service-user peer reviews (co-ordinated by the McPin Foundation) are carried out.

We publish on our website: https://www.mentalhealthresearchuk.org.uk/research.html from March each year, indepth information on our grants process and who may apply (where you will also find grant application forms).

MENTAL HEALTH RESEARCH UK

TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Our volunteers

MHRUK does not have a paid workforce but the work of the charity is done by the trustees and by a small team of volunteers. We currently have 8 active volunteers.

The volunteers assist the Trustees with the administration of the charity. Our Administrator coordinates our day-today activities relating to fundraisers, scholars, supervisors and donors. Our Scholarship Administrator co-ordinates the Scholarship awards programme and our Finance Administrator manages the accounts.

To our supporters, volunteers are the public face of our Charity. It is by working together in this way that Mental Health Research UK will achieve its goal of transforming lives.

Policies

COMPLAINTS POLICY : MHRUK has a comprehensive complaints policy and procedures which are reviewed regularly. The charity did not receive any complaints during 2023-24.

DATA PROTECTION : MHRUK handles all personal data in accordance with the requirements of the Data Protection Act, and uses it fairly, lawfully and transparently.

HEALTH & SAFETY : MHRUK has comprehensive health and safety policies which are reviewed regularly. There were no incidents to report in 2023-24.

The Trustees report was approved by the Board of Trustees.

Professor Sir Michael Owen Trustee

8 November 2024

MENTAL HEALTH RESEARCH UK

STATEMENT OF TRUSTEES RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2024

The Trustees 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).

The law applicable to charities in England and Wales 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 of the charity for that year.

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

The Trustees are responsible for keeping sufficient 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 Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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.

MENTAL HEALTH RESEARCH UK

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF MENTAL HEALTH RESEARCH UK

I report to the Trustees on my examination of the financial statements of Mental Health Research UK (the charity) for the year ended 31 March 2024.

Responsibilities and basis of report

As the Trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Roger F Downes FCA Institute of Chartered Accountants in England and Wales BK Plus Limited

6 Manor Park Business Centre Mackenzie Way Cheltenham Gloucestershire GL51 9TX

Dated: 8 November 2024

MENTAL HEALTH RESEARCH UK

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted Unrestricted
funds
funds
general
designated
2024
2024
Notes
£
£
Income from:
Donations and legacies
3
131,934
132,926
Investments
4
7,728
-
Total income
139,662
132,926
Expenditure on:
Charitable activities
5
103,307
108,692
Total expenditure
103,307
108,692
Net gains/(losses) on
investments
10
-
110,844
Net income/(expenditure) and
movement in funds
36,355
135,078
Reconciliation of funds:
Fund balances at 1 April 2023
154,960
342,348
Fund balances at 31 March
2024
191,315
477,426		 Total
Unrestricted Unrestricted
Total
funds
funds
general
designated
2024
2023
2023
2023
£
£
£
£
264,860
78,064
31,049
109,113
7,728
4,771
-
4,771
272,588
82,835
31,049
113,884
211,999
108,246
136,261
244,507
211,999
108,246
136,261
244,507
110,844
-
(43,122)
(43,122)
171,433
(25,411)
(148,334)
(173,745)
497,308
180,371
490,682
671,053
668,741
154,960
342,348
497,308		 Total
2023
£
109,113
4,771
113,884
244,507
244,507
(43,122)
497,308

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

MENTAL HEALTH RESEARCH UK

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2024

2024 2023
Notes £ £ £ £
Fixed assets
Investments 11 1,016,276 1,105,432
Current assets
Debtors 12 1,283 -
Cash at bank and in hand 512,887 254,214
514,170 254,214
Creditors: amounts falling due within 13
one year (490,601) (395,162)
Net current assets/(liabilities) 23,569 (140,948)
Total assets less current liabilities 1,039,845 964,484
Creditors: amounts falling due after
more than one year 14 (371,104) (467,176)
Net assets 668,741 497,308
The funds of the charity
Unrestricted funds - general 191,315 154,960
Unrestricted funds - designated 15 477,426 342,348
668,741 497,308

The financial statements were approved by the Trustees on 8 November 2024

Professor Sir Michael Owen Trustee

MENTAL HEALTH RESEARCH UK

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

Charity information

Mental Health Research UK is a registered charity in England and Wales (Charity number 1125538) regulated by the Charity Commission and established by its Declaration of Trust dated 25 July 2008.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, 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 charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. 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 charity 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 are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.

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.

MENTAL HEALTH RESEARCH UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

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.

Scholarship grants awards payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grants, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity.

1.6 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.

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.

Impairment of financial assets

Financial assets, other than those held at fair value through income and expenditure, are assessed for indicators of impairment at each reporting date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.

If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in net income/(expenditure) for the year.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in net income/(expenditure) for the year.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

MENTAL HEALTH RESEARCH UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

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.

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

These financial statements for the year ended 31 March 2024 are the financial statements of Mental Health Research UK prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and republic of Ireland. The date of transition to FRS 102 was 1 April 2021. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.

1.7 Taxation

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in paragraph 2 Schedule 6. Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purpoises

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 Income from donations and legacies

Unrestricted Unrestricted Total Unrestricted Unrestricted Total
funds funds funds funds
general designated general designated
2024 2024 2024 2023 2023 2023
£ £ £ £ £ £
Donations and gifts 131,934 132,926 264,860 78,064 31,049 109,113

MENTAL HEALTH RESEARCH UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

4 Income from investments

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Interest receivable 7,728 4,771
5 Expenditure on charitable activities
Total Total
2024 2023
£ £
Direct costs
Cost of generating voluntary receipts 562 561
Fundraising costs 2,273 1,987
Cost of charitable activities 6,248 101
Scholars' Day - 144
9,083 2,793
Grant funding of activities (see note 6) 200,775 240,083
Share of support and governance costs (see note 7)
Independent examination fee 2,141 1,631
211,999 244,507
Analysis by fund
Unrestricted funds - general 103,307 108,246
Unrestricted funds - designated 108,692 136,261
211,999 244,507
6 Grants payable
Total Total
2024 2023
£ £
Grants to individuals 200,775 240,083

Grants payable to individuals included £92,083 (2023: £103,822) in respect of Mental Health Research UK and £108,692(2023: £136,261) in respect of the Schizophrenia Research Fund.

MENTAL HEALTH RESEARCH UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

7 Support costs allocated to activities

Governance
Governance costs comprise:
Independent examiners remuneration
Other		 2024
£
2,141
2024
£
1,800
341
2,141		 2023
£
1,631
2023
£
1,290
341
1,631

The independent examiner's remuneration reflects the independent examination and the accounts preparation fee.

8 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

9 Employees

The average monthly number of employees during the year was:

2024 2023
Number Number
Total - -

There were no employees whose annual remuneration was more than £60,000.

10 Gains and losses on investments

Unrestricted Unrestricted
funds funds
2024 2023
Gains/(losses) arising on: £ £
Revaluation of investments 110,844 (43,122)

MENTAL HEALTH RESEARCH UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

11 Fixed asset investments

Listed
investments
£
Cost or valuation
At 1 April 2023 1,105,432
Valuation changes 110,844
Disposals (200,000)
At 31 March 2024 1,016,276
Carrying amount
At 31 March 2024 1,016,276
At 31 March 2023 1,105,432

Listed investments are valued on an open market basis.

The historical cost of this listed investment as at 31 March 2024 was £965,894 (2023: £1,178,687).

12
Debtors
Amounts falling due within one year:
Other debtors
13
Creditors: amounts falling due within one year
Grant awards
Accruals and deferred income
14
Creditors: amounts falling due after more than one year
Grant awards		 2024
£
1,283
2024
£
488,801
1,800
490,601
2024
£
371,104		 2023
£
-
2023
£
393,872
1,290
395,162
2023
£
467,176

MENTAL HEALTH RESEARCH UK

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

15 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

At 1 April 2023
£
Schizophrenia Research Fund
342,348
Previous year: At 1 April 2022
£
490,682
Analysis of net assets between funds
At 31 March 2024:
Investments
Current assets/(liabilities)
Long term liabilities
At 31 March 2023:
Investments
Current assets/(liabilities)
Long term liabilities		 Incoming
resources
Resources
expended
Gains and
losses
At 31 March
2024
£
£
£
£
132,926
(108,692)
110,844
477,426
Incoming
resources
Resources
expended
Gains and
losses
At 31 March
2023
£
£
£
£
31,049
(136,261)
(43,122)
342,348
Unrestricted Schizophrenia
Research
Total
funds
funds
general
2024
2024
2024
£
£
£
125,103
891,173
1,016,276
272,708
(249,139)
23,569
(206,496)
(164,608)
(371,104)
191,315
477,426
668,741
Unrestricted Schizophrenia
Research
Total
funds
funds
general
2023
2023
2023
£
£
£
373,478
731,954
1,105,432
42,264
(183,212)
(140,948)
(260,782)
(206,394)
(467,176)
154,960
342,348
497,308		 Incoming
resources
Resources
expended
Gains and
losses
At 31 March
2024
£
£
£
£
132,926
(108,692)
110,844
477,426
Incoming
resources
Resources
expended
Gains and
losses
At 31 March
2023
£
£
£
£
31,049
(136,261)
(43,122)
342,348
Unrestricted Schizophrenia
Research
Total
funds
funds
general
2024
2024
2024
£
£
£
125,103
891,173
1,016,276
272,708
(249,139)
23,569
(206,496)
(164,608)
(371,104)
191,315
477,426
668,741
Unrestricted Schizophrenia
Research
Total
funds
funds
general
2023
2023
2023
£
£
£
373,478
731,954
1,105,432
42,264
(183,212)
(140,948)
(260,782)
(206,394)
(467,176)
154,960
342,348
497,308
Total
2024
£
1,016,276
23,569
(371,104)
668,741
Total
2023
£
1,105,432
(140,948)
(467,176)
497,308

16 Analysis of net assets between funds

17 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).