Company No: 07693277 Charity No: 1143600 MIND IN FURNESS LIMITED IA COMPANY LIMITED BY GUARANTEE) REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
MIND IN FURNESS LIMITED CONTENTS Pages Reference and adminislralive infom)atif Report of the trustees Independent examinerfs report to the truste Statement of financial adivities 10 Balance sheet Statement of cash flows 13 Notes lo the financial slalements 14
MIND IN FURNESS LIMITED REFERENCE AND ADMINISTRATIVE INFORMATION (Registered Company Number.. 076932771 (Registered Charty Number.. 11436001 TnJsteeslDirectors Mr M Mahony (Chairl Mrs H Bingley (Vice Chair and Treasurer) Ms S Jackson MrDLeMa Dr A Page Mr K Murphy Mr S Blezard Secretary MrDLeMa Registered Office 64 School Street Barrow in Furness Cumbria LA14 1EW Indepenfjent Examiner Jack Sleer ACA MHA Chartered Accountsnts Kendal House MrY Moss Business Village Oxenholme Road Kendal Cumbria LA9 7RL Page 1
MIND IN FURNESS LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their report and the financial 5tstement5 of the Trust for the year ended 31 March 2024. The trustees have adopted the provisions of the Stslement of Recommended Pra¢tice ISORPI "Accounting and Reporting by Charits'es. IFRS 1021 in preparing the annual report and financial statements of the Trust. The financial statements have been prepared in accordance wth the accounting policies set out in the notes to the 8ccoun15 and comply with the Trust's governing document, the Charrties Act 2011 and Accounting and Reporting by Charities". Stslement of Recommended Practice applicable to charities preparing their ac¢oun15 In accordance rith the Financial Reporb'ng Standard for Smaller Entities applicable in the UK and Republic of Ireland published in October 2019. Structure Govornancè and Managomènt Govarning Documant The organisation is a Iregisteredl charitsble company limited by guarantee govemed by its memorandum and articles of association. We work closely with Mind the leading mental health chanty in England and Wales as part of a federation structure bul are independently governed and independently funded. Other than this federation agreement and affiliation there are no connected charrties or branches. Tru$t•o8 of thè Charlty The directors of the charitable company are its trustees for the purkhxes of charity law. Listed below are the trustees who have served during the year and since the yearond. Michael Mahony (Chairl Helen Bingley {Ve Chair and Treasurer) Sheena Jackson David Le Mare Anthony Page Keith Murphy Shaun Blezard The trustees oversee the running ol the charity. The Chief Officer. Karen Dobson, is responsible for operational management and the execution of the Board's strategic plan and is a5Si5ted and supported by a management team consi51ing of an Office Manager, Service Managers and Shop Managers. A team of staff and volunteer5 delivers our day-Ick¢Jay services. The notes to the accounts disclose any transactions with trustees and related parties. The Trustee5 have had due regard to the guidance published by the Charity Commission on Public Benefit. Recrultment and Appolntm¢nt of Management Commlltse Existing TrusleeslDirectors as members of the organisation invite potentsal trustees to serve on the board. We invrte potential Trustees based on the skills required for the role and any noted skills gap on the board. They will complete an application and meet with the Chair and Chief Officer lo discuss the role and their suilabilty. They are invrted lo attend a Board meeting before being proposed and Sended * a trustee meeting by existing trustees and these appointments are offiaally confirmed at the AGM. Once appointed induction procedures are undertaken. Page 2
MIND IN FURNESS LIMITED REPORT OF THE TRUSTEES (continued) FOR THE YEAR ENDED 31 MARCH 2024 Recruitment and Appointment of the Management Committee Icontinuedl None of the Trustees hold beneficial interest in the Company. All of the Trustees are members of the company and guarantee to contribute £1 in the event of winding UP. Quallty Manag•mènt Mind Quality Mark is a mbust qualty assurance framew(Nk. bespoke lo the needs of the Mind federation. It 1$ a tool for organisational development, with holistic subject coverage, consisting 0120 standards, structured within four areas. It provides the impetus for reflection and continuous improvement, innovation and ambits'on, so that everyone with mental health problems gels respect and the support they need. Mind in Fumess successfully completed our MQM in October 2022. This is reviewed in a three yearty cycle. Risk Managament An organis81itsnal Risk Analysis is collated and risk ratings S applied lo all recognised risk., this is reviewed and updated al every Iruslee meetsng. This ensures the trustees are regularty assessing the major risks to which the charity 1$ exposed and are $ats'$fied that adequate systems are in place to mitl9ate any exposure to the major risks. Obl•ctlve8 and Actlvltl•8 The charity's objects are lo reduce mental healih stigma, influence the shape of $ervi¢e$ and to $uppcirt and promote the interests of those who experience mental health problems, their families, friends and supporters. Actlvltl•8 Using a psychS0al model of delNery Mind in Fumess Limited offers'.- wèll1n9 Activitiés Re¢overy Focused groups and activrties Advice, informalion and Signposting Peer support Supported volunteering placements Counselling Crisis Support Training and Anti Stigma Work Eco therapy opportunities Refuge and Asylum Seekers Mental Health Support Extended Hours levening & weekend) Cri$is Café Supp¢)rt ser¥e (Commissioned from April 20231 Two charity shops (Mentsl Heamh on the High Street) Supported Houslng Dispersed seW-conlained supported housing Page 3
MIND IN FURNESS LIMITED REPORT OF THE TRUSTEES (continued) FOR THE YEAR ENDED 31 MARCH 2024 A¢tivitie$ {continuedl Actlvo M¢nltorlng IGP based Guided self-helpl As well as providing a full range of activiti'es to improve resilience and coping skills to those experiencing poor mental he811h we also offer advicE, inform8ts.on and a signposting service lo the general public. We are active in all relevant local community networks and work in pathership wlh other local projects and statutory agencies to ensure mental health is considered in au aspects of our local communib'es. The obJe¢ts are met through the seNkes delfvernd fmm the ¢entres below. Wgllboing Cgntrg (Th8 William Blngley Cgnlro, 64 S¢hool Street) The centre serves as a head office for all Mind in Fumess's services and the staff and volunteer team deliver a range of projects from this community-based centre. th the overall aim of improving people's understanding and experiences of episodes of poor mentsl health. The William Bingley Wellbeing Centre has traditionally been open Monday lo Friday, delivering recovery focused services to anybody experiencing poor mental health or emobonal distress. From April 2022. however Mind in Fvmess was commissioned lo deliver extended support," this seNice has slowly built up since that period and now ensufes we provide extended support out of the usual 9-5pm window. We are open Monday lo Friday 9am-10pm and Saturdays 10am4pm. This service offers an alternative option to A&E for mental health $upporL Support•d Hoong Follo¥Mng our strategic ¢Jecision lo remove ourselves from the provision of 2417 high level supported living being delivered from Coniston House in 2022, Mind in Fumess continues to provide supported housing from 4 flats on Sutherland Street, Barrow in Furness (Restart Project) offering intensive housing management support to tenants with mental health issues. Charfty Shops- M•ntsl Health on the Hlgh Street Mind in Fumess runs tsvo charity shops, one in Barrow and one in Millom. Both shops employ a part time Manager and the rest of the team are volunteers. As well as raising bjnds and offering volunteering opportunities, these shops provide infomiation services on ihe high streets of Barrow and Millom lor people with mental health problems. Any profits generaleil are invested into delivering wellbeing services. The cost of living crisis has created a challenging environment, as costs rise. the amount of surplus funding reduces meaning the Board has to keep a close eye on the affordabilty of the shops, recognised in our recently reviewed lease agreements. Ulverston We deliver a range of wellbeing serVeS from our premises at 5 Upper 8rook St in Ulverston 3 days per week. Oifficulties in recruitment slowed down our progress in Ulverston but with the appciintment of a Service Manager (November 20231 we look towards further development in 202512026. Mlllom We do not ovm any premises in Millom and renl space on a weekly basis to deliver our Safe Space Millom service. We currently use The Pensioners Association building known locally as The Tin Chapel. This service 15 well received and we work alongside other partners delivering support as part of the formal Transfomiing Wesl Cumbria Mental Heahh Partnership. Page 4
MIND IN FURNESS LIMITED REPORT OF THE TRUSTEES (continued) FOR THE YEAR ENDED 31 MARCH 2024 Activities {continuedl The Trustees have paid due regard to guidance in section 17151 of the 2011 Charities Act issued by the Charty Commission in deciding al a¢tNth'es the charrty should undertake. Financial Revi8W MHA manage our a¢¢ounling arrangements and we maintain Qui¢kBooks inlernalty as a way of keeping our financial records. Our Office Manager is responsible for the day-104ay financial aspects of the organisation and the accounting arrangements are scrutinised by the Treasurer at Board level. We recognise we ¢an still make some improvements in terms of the infomialion we can access from QuickB¢x)ks and how this can inform our decision-making. We are making changes lo the way we record our Qui¢kBooks information lo ensure trustees have accurate and up lo dale information and in July 2024 mel with MHA lo look at what changes we can introduce to ensure accurate and tsmely reporting and to ensure the best use of the system. We have maintained accurate records and submitted project reports for funders, including budgetary information where this is required. Over the last years the trustees made a MMItMent to review salaries at the start of the financial year and the extended cost of living crisis made this more pertinent. We initiated a cost of living increase across the whole staff team and made a commitment to ensure we pay our lowest paid staff 2% above the minimum wage. Trustees are aware salary review must be an ongoing aim and as such the trustees have a commitment to review salaries annually and salaries will be set at the start of the financial year. Tnjslees will make decisions on rates of pay based on funding available and comparable Ial rales of pay. The legally required pay in¢reases to minimum wage over a year period had a signifi¢anl impa¢l on our staffing ¢o$ls and this will impact in future year's budget5. At the point ol writing we also note the increased rate of employers Nl due in April 2025. We continue lo deliver supported housing via our Sutherland Street propert*s in Barrow in Furness and we hope lo look al development opportunities for expanding this type of dispersed housing further. After 4 years of a contractuallfunding relationship wlh the Primary Care NeOrk to deliver Active Monitoring across their footprint of Barrow and Millom, this funding came to an end in March 2024. The PCN acknowledged the excellent service but sadly their funding streams had been reduced and they could no longer afford the service. In 202412025 we wll endeavour to seek altemative funding for continuation of this valuable service. The cost of living crisis following on from Ihe pandemic created a challenging environment for our retail operations 12 x Charity Shops) with rising utilities. other Costs and salary increases impacting our surplus income levels. Maximising income. volunteer recruitment and keeping costs low continues to be a priority. We know our shops are valued In our community and the cost of living ¢nsis brings opportunrties as well as obvious challenges so we have recently entered into new S years leases for both properties. In the light of the increased expendrf(ure and our desire to maintain a high street presence we wll review our shop delivery model and consider how to maximise income in 202512025. In 202212023 we started to pay back the bounce back loan we took out in 2021 following an interest free period of 1 year", this now Incurs a 2.530h annual interest rate. Page 5
MIND IN FURNESS LIMITED REPORT OF THE TRUSTEES (continued) FOR THE YEAR ENDED 31 MARCH 2024 Achievements and Performance Mind in Furness Ltd is satisfied that it has met all its contractual requirements for the year ending 2024. The changes in health and local authorty structures started during the previous year continue to create great uncertainly in terms of commissioning structures but we have continued the process of proactive networking developing our services in line wrth natsonal agendas and liaising wth local partners. We conb'nue to nurture and invest tsme and energy in our existing partnerships wth other local and countywide groups, which enhances our service offer. Our nets¥ork includes Lancashire Mind which also operates within the area of operation for Lancashire and South Cumbria Integrated Care Board and Carfisle Eden Mind in the North of the county. We ensure we engage proactively with the wder MiThJ Nefvlork which we recognise offers us effective links, shared leaming and advice and support and opportunitie$ for funding, indudin9 previous fvnding for Peer Support, Refugee and Asylum Seeker Support and Acts've Monitoring. We have maintained strong local links wlh partneTS including foming the Furness Not for Profil Health Forum and the South Cumbria Mentsl Health Forum. We COgnISe we a stronger when working together and Mind in Furne$s endeavours to be a key player in local partnerships and di$¢us$ion$. We work in both formal and infomial partnership with a range ol local VCFSE partners including Citizens Advice Barrow, Groundwork, Barrow and District Disability Association, Furness Mulkn" Cuttur41 Forum. Vvomen's Community Matters, The Well Communitie5. SAFA and many more. Following the 202212023 Local Authority boundary changes we now deliver seryices across Westmorfand and Furness Council and Cumberland Council. We have ensured we have engaged wth our local authorities on issues such as Joint Strategic Needs Assessments and Health and Wellbeing Boards etc. Following the move lo Inlegraled Care Boards who are now responsible for meeting the health needs of the population, managin9 the NHS budget and arranging for the provision of healtt) services in a geographical area, we sit within Lancashire and Soulh cum10 ICB. We have worked hard lo e$tabli$h good working relats'onships th our ICB colleagues. With IC88 came the Mental Heatth Transfomation Fund. the single biggest investment in mental health in recent limes that came wth clear instruction that a per¢entage musl be paid lo the volunlarylcharrtable sector lo wtsrk in partnership to enhance community mental hearth. We engaged fvlty in this process receiving a grant al the start of 2023 to continue delivery ol our successful Help through Crisis programme in partnership with Crtizens Advice Barrow. As part of this transformation inth'abve. we will also supported Lancashire Mind to deliver engagement events locally lo con5uII with partners, service useTs etc. to look al models for future service delivery. Disappointingly we were unsuccessful in the grant pTo¢ess for 2024 and al the lime of wnting are wailing lo hear what the new commissioning strategies will be. Our work throughout 202312024 developing our extended opening hours feeds into the rnental health transformation programme and carries on the aims of the original Beyond Places of Safety Fundinglsee below). This service wll be recommissioned and tendered for 2025. Page 6
MIND IN FURNESS LIMITED REPORT OF THE TRUSTEES (continued) FOR THE YEAR ENDED 31 MARCH 2024 Achievements and Performance (continued) Beyond Places of Safety IDopartm•nt of Hoalth and Social Caro In 2018, Mind in Furness received a capital grant from DHSC to extend and modernise the existing Wellbeing Centre on School Street. The build was completed in January 2021 providing a bigger and much improved building from which to deliver services. From 202212023 we have worked alongside our slatulory health partners lo e¥lend our service offer. support MO people and extend opening hours into the evenings and weekends. This service supports the growing needs of our community and our colleagues working in ststulory health services. Mlnd Garden The 2022 Mind Chelsea Flower Show garden that was transferred in its entirety to an to the unused wasteland next to our building on School Street. The acquisition of the garden for the use of Mind in Furness and our local community was a major accomplishment and offered us a great deal of posib.ve publicity. including national media coverage. The garden has "blossomed. and conb"nueil to grow and settle in and is widely used by Mind in Furness. our partners and the public. 11 is now a major part of our outdoorleco-therapy activity offer. Mlnd Quallty Manag•mont Our last MQM audit process was completed In October 2022 and was highly posil've with lols of good feedback from national Mind including Mind in Furnes5 being reco9ni5ed for our outstanding Ecovtherapy work and winning the Mind Excellence Award in the area of Environment. Ulverston We began delivering services in Ulverston followng the October 2020 closure of Ulverslon Mind. We have developed some ¢lose working links with GPS and other local groups including voluntary groups and arts organisalions. We offer support from our pfemises al S Upper Brook Sl. We have struggled with recruilmenl in terms of management but recruited in October 2023and look forward lo seeing our offer grown in Ulverslon. Post Covid-19-A Global Pandemic4lovlng Forward hilsl we are 4 years on from the start of the global pandemic. il along with the subsequent cost of living crisis has heavily affected the nation's mental hearth. We continue lo see high demand and are currently experiencing a national mental heatth crisis. whilst this is recognised by funders and commissioners alike , rt has also led to increased competition for funding streams to meet the increased levels of need. The uncertainty of the current Climate. both economic and rA)lrtical, exacerbated by the long-term impacts of the pandemic. mean we musl remain vigilant of our financial situation and the Iruslees and management team remain committed lo ensuring they seek oul opportunrties for new fvnding streams wherever appropriate. The funding environment lor 202412025 and onwards remains incredibly challenging. Page 7
MIND IN FURNESS LIMITED REPORT OF THE TRUSTEES (continued) FOR THE YEAR ENDED 31 MARCH 2024 R•$•The$ Pollcy The trustees consider that it would be prudent and desirable to have free reserves equivalent to 3 months operating expenditure. This would be in the region of £150.000. Al the year-end free serveS were £329.956. Trustees. Responsibilities The Iru5tee5 (who are a150 directors of Mind in Furness Limrted for the purpose5 of company lawl are responsible for preparing the Trustees, Annual Report and Ihe financial statements in accordance with applicable law and Unrted Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Pra¢ticel. Company law requires the trustees to prepare financial stalements for each financial year, which give a true and fair view of the stale ol affairs ol the Charity and of the incoming resources and application of resources. including the income and expenditure. of the Charity for that peri¢)d. In prepanng these financial slatemenls, the trustees are required lo.. select suitable accounting policies and then apply them consislenuy., observe the methods and principles in the Charities SORP 2019 IFRS 1021.. make judgements and estimates thal are reasonable and prudent., stste whether applicable UK A9untyng Standar¢Js have been followed, Subjecl lo any material departures disclosed and explained in the financ1 statements., prepare the financial statements on the going conrn basis unless it is inappropriate to presume that the Trust wll continue in operation. The trustees are responsible for keeping adequate accounbng records that disclose with reasonable accuracy al any lime the financial position of the Trust and enable them lo ensure that the finan¢ial statements compty with the Companies Act 2006. They are also responsible lor safeguarding Ihe assets of the Trust and hence for taking reasonable steps for the prevention and detecb'on of fraud and other irregularities. By order of the Trustees ÉILkn Mrs H Bingloy Treasurer Dale.. 29 January.2025 Page 8
MIND IN FURNESS LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MIND IN FURNESS LIMITED I report to the Charity Trust trustees on my examination of the accounts of the company for the year ended 31 March 2024 which are sel out on pages 10 to 26. R8sponsibiliti•s and basis of report As the charity trustees of the company land a150 its directors for the purposes of company lawl you are responsible for the pparatsOn of the accounts in accordance with the requirements of the Companies Act 2006 I'the 2006 Act'l. Havin9 satisfied myself that the accounts of the company a not required lo be audited under Part 16 of the 2006 Act and are eligible for independent examinabon. I report in respect of my examination of your company's accounts as carned out under se¢bon 145 of the Charities A¢t 2011 {'the 2011 Acl'l. In carrying out my examination I have followed the Direction$ given by the Charty Commi$$ion under $ection 1451Sllbl of the 2011 Act. Independent examlnor's statement Since the company's gross income exceeded £250,(7 your examiner musl be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the ICAEW, which is one ol the listed bodies. 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. accounting records were not kept in res1 of the company as required by Section 386 of the 2006 Act., or 2. the aecounls do not accord with those records. or 3. the accounts do not comply wlh the ?OntIng requirements of $e¢ts'on 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view. which is not a matter considered as part of an independent examinalKsn'. Of 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Rec¢mmended Practice for accounting and reporting by charrties applieable lo charities preparing their accounts in accordance wth the Financial Reporting Stan¢Jard applicable in the UK and Republic of Ireland IFRS 1021. I have no ¢oncern$ antj have Come across no other matters in conne¢lion wlh the examination lo which attention should be drawn in this report in order to enable a proper understanding of the accounts lo be reached. Jack Steer ACA MHA Chartered Accountants Kendal Houso Murley Moss Business Village Oxenholme Road Kendal Cumbria L49 7RL 29 January 2025 Page 9
MIND IN FURNESS LIMITED STATEMENT OF FINANCIAL ACTIVITIES (including Income an(1 Expenditure Accounti FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Funds Restricted Funds 2024 2023 Income Dtsnab"ons and legacies 31.611 3.452 35,063 99,019 charitab Actwib'e$ 249,914 243.445 493,359 463.274 Shops 69,286 69,286 62.780 Govemment Grants 2,000 Bank Inter8St received 7,644 1,838 Total Incom• 358,455 246,897 605,352 628,911 Expondlturo Shops 62,670 62,670 79,877 On charitable activrties 210,775 341,555 552,330 479,644 Total oxpondltuv• 273,445 341,555 615.000 559,521 N•t Incom• 85,010 {94,6581 19,6481 69,390 Transfers between funds (29,3291 29.329 Net movement In funds 55,681 165,3291 19,6481 69,390 R•conclllatlon of fund$ Total funds brought forward 1.03S.309 88.933 1,124.242 1,054.852 Total funds ¢arrl•d forward 1.090,990 23.604 1,114.594 1,124.242 The statement of financial affairs include$ all gains and los$e$ rewnised in the year Page 10
MIND IN FURNESS LIMITED BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Note Fixed assets Tangible assets 761.034 779.801 Current assets Debtors Cash at bank and in hand 1S9.S86 255 130 182,563 383 865 414.716 566.428 CrndStor8 - amounts falling due within one year 180779 Not current a$$•ts 389 105 385 649 Total assots le¥s curr•nt IlabllSti 1.1 $0.139 1,165,450 CrgdStor¥ -amounts falling due after one year Not ass•t8 1.114.594 1,124.242 Funds of the charity Unrestricted income funds Reslricled income funds 1.090.990 1,035,309 12 Total charity funds 12 1.114.594 1,124,242 Page11
MIND IN FURNESS LIMITED BALANCE SHEET (Gontinued) AS AT 31 MARCH 2024 For the year ending 31 March 2024 the company was entrfed to exemption from audrt under section 477 of the Companies Act 2006 relats'ng to small companies. Directors, responsibl1"es". The members have not quire<l the company to obtsin an audrt of its accounts for the year in question in accordance with section 476., The directors acknoYAedge their responsibilrties for comptying wth the quirementS of the Act with respect lo accounting records and the Ppar10n of accounts. These accounts have been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006. 29 January 2025 These accounts were approved by the directors and authorised for issue on ........ and are signed on their behaw by.. ÉILkn Mrs H Blngloy Tr&a$urgr Company Reglstratlon Numbèr: 07693277 CharSty NUrnr.. 1143600 Page 12
MIND IN FURNESS LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 R•con¢lllaVon of net In¢om• to not cash flow from opornting activities Net income for the year Depreciation of tangible fixed assets Decrease I lincreasel in debtors IDecreasel l increase in creditors 19,6481 18,767 22,977 1155,1681 69,390 23,123 16,349 156,3911 Net cash flow from 0ratIng actbvitie# 1123,0721 52,471 Cash flow from invosting activities Repayrnenl of bank loan Proceeds received from bank loan Payments lo acquire tangible fixed assets {5.6631 14,3801 Net cash flow from Invosting actlvbtles 15,6631 14,3801 Net Idocrease) I Incr•as• In cash and equivalonts 1128,7351 48,091 Cash and cash èqulv*l•nts at 1 Aprtl 2023 383.865 335,774 Cash and cash equlval•nts at 31 March 2024 255.130 383,865 Ralatlng to.. Cash al bank and in hand 255.130 383,865 Page 13
MIND IN FURNESS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1. Accounting Policies Mind in Fumess Lim((ed is a charitable company limiteil by guarantee and govemed by ils memorandum and articles of association incorporated in England and Wales. The registeted office is 64 School Street, 8arrow in Furness, Cumbria, LA14 1 EW. Ba$1$ of pr•pardtlon The financial stslements have been prepareil in a¢cordan¢e wrth A¢¢ounting and Reporting by Charities". ststement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 issued in October 2019, the Chanlies Act 2011, the Companie5 Act 2006 and UK Generally Accepted Practice as rt applies from 1 January 2015. Mind in Furness Limited meet$ Ihe definition of a public entity under FRS 102. Assets and liabilities are initially recognised at historical ¢o$t or transaction value unle$$ otherwse ststed in the revant accounting poli¢y nolelsl. The financial slalements are prepared In sterling. vthich is the funclK)nal currency of the company. Monetary amounts in these financial stslements are rounded lo the nea$1 £. Income All incoming reyource5 ore included in the Statement of Financi41 Actiwties ISOFAI when the eharity is legally enlilled to the income after any performance Cond"0n8 have been mel. the amount can be measured reliabty, and il is probable that the income will be weived. For donations to be recognised the charity wll have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of perfomiance before enlillemenl can be obtained then Income Is deferred until those conditions are fvlly mel or the fuffilmenl of those conditions is within the control of the charity and il is probable that they wll be fulfilled. Donated facilrties and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably, and the charity has control over the item. Fair value is determined on the basis of the value of the gift lo the charrty. For example. the amount the charity would be willing lo pay in the open market lor such tsulilies and services. A corresponding amount is recognised in expenditure. No amount is included in the ffinancial statements for volunteer lime in line wth the SORP IFRS 1021. The ¢harity receives government grants in respect of charitable a¢bvilies. Income from govemment and other grants are recognised at fair value when the charty has enliuemenl after any performance conditions have been met, it is probable that the income VAII be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred. Income from trading activities includes income eamed from fvndrai5ing events and trading activth'es to raise funds for the Charity. Income is received in exchange for supptying goods and services in order lo raise funds and is recognised when entitlement has occurred. Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity., this is normally upon notffication of interest paid or payable by the Bank. Page 14
MIND IN FURNESS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1. Accounting Policies {continueol Going conc8m The Trustees have considered the consequences ot. Recent changes by govemmenl to employers. national insurance contribution and minimum living wage., 2. High level of competition for SoUrceS from funders and grant makers due to national public sector financial situation and cost of living generalty resuth'ng in increasing requests for financial support from charities. In addition, the Trustees have.. 1. Reviewed the current years. accounts lo March 2025", 2. Based on projected income agreed a break-even budget to March 2026.. 3. Approved projects that are affordable and ceased projects that have no or insufficient in¢ome', 4. Considered cashflow projeclions lo March 2026., 5. Agreed procedures for tighter management controls until the financial position improves. 6. Asked the CEO to arrange for UFFtrAate valuations of the assets. Based on the above and the decision of Trustee$ to oversee ¢loser financial management for the foreseeable future, the Trustees have determined th* the consequences of Ihe Current un¢ertain financial environment will be mitigated. There are several Trustees with the competence to manage the current financial situation therefore the Btsard of Trustees are confident that Mind in Fumess can continue as a going concern. They do acknowledge the challenges that lie ahead. 202512026 wll See $vJnificanl fvnding challenge$ that may require a review of our strategy and service provision. The impact of the current global and financial posrtion on fijlure performance and therefore on the measurement of some assets and liabilities or on Iiquidily rnight be significant and ay such May require disclosure in the financial stalemenls. The Trustees have determined. however, that they do not create a material uncertainty that casts snIficant doubt upon our ability lo continue as a going concern. Fund accountlng Unreslricled funds are thjnds whith are available for use al the discretion of thè Iruslèes in frJrther8n¢e of the general objethves of the charty. Restricted funds are funds thich are to be used in accordance wth specific restrictions imposed by donors or which have been raised by the charity for parkncular purposes. Any overspends are met by unrestricted funds. Expenditure All eXpendrtU ig accounted for on an accwals basis and has teen classified under headings that aggre9ate all costs related to the category. ExpenrtU is recognised vA)ere there is a legal or constructive obligats'on to make payments to third parties, rt 1$ probable that the settlement will be required, and the amount of the obligation can be measured reliably. Operating Lea$e$ Rentals payable under operats'ng leases are charged against income on a straighl-line basis over the period of the lease. Tangible Fixed Assets and Depreciation Tangible fixed a55els are initially measured al cost and 5ubsequenlly measured al cost or valuation, nel of Ilepreciation and any impaim)enl losses. Tangible fixed assets are stated at cost less depreciab'on. Only items costsng over £250 are capitalised. Page 15
MIND IN FURNESS LIMITED NOTES TO THE FINANCIAL STATEMENTS (Gontinued) FOR THE YEAR ENDED 31 MARCH 2024 1. Accounting Policies {continu Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over ils expected useful lrfe as follows.. Land and buildings Fixtures and fittings Computers 2% straight line 25% reducing balance 33% straight line The gain or loss arising on the disposal of an asset is determined 8$ the drfference befvleen the yale proceeds and the carrying value of the asset and is recognised in nel incomel lexpendrturel for the year. Impairnient of fixed assets At each reporting end dale, the chèrty reviews the carrying amounts of ils tsngible asse15 to determine whether there is any Indication that those assets have suffered an impairment Ios5. If any such indication exists. the recoverable amount of the asset is eslimaled in orcler lo detemiine the extent of the impairment loss lif any). Debtors and accrued Income Debtor5 are recognised at the settlement amount due after ony trade discountg allowed. Prepayments are valued al the amount prepaid after taking account of any trade discounts due. Cash at bank and in hand Cast at bank and in hand includes cash and short term highty liquid investments Trmth a short maturity of three months or les5 from the date ol acquisition or openin9 01 the deposit or similar account. Bank overdrafts are shown wthin borrowing8 in current liabilities. Flnanclal In$trum•nts The company has ele¢teil to apply the provisions of Seclion 11 '8a$i¢ Financial Instruments, and Secb'on 12 'other Financial Instruments Issues. of FRS 102 to all of rts financial instruments. Crèditorn and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third paty and the amount due to setde the obligation can be measured or estimated reliably. Crediiors and provi$ion$ are nornialty recognised al their settlement amount after allon9 for any trade discounts due. Employee benefits The cost of any unused holiday enlrflement is recogni$ed in the period in which Ihe employee's Services are received. Terrninalion benefits are Tecognised immediately as an expense vthen the charity is dernonstrab commilled lo terminate the employment of an employee or to provKle tem)inatson benefits. Pensions The charitable company operates a defined contributKJn pension scheme and the pension charge represents the amount payable by the charity in respect of the year. The assets of the scheme are held separate from those tsf the charitable company In independenlty administered funds. Pension expense is allocated lo where the employees. salary is allocated. Leases Rental payable under operating leases, include any lease incentives received, are charged to income on a slraighl-line basis over the term of Ihe levant lease. Page 16
MIND IN FURNESS LIMITED NOTES TO THE FINANCIAL STATEMENTS (Gontinued) FOR THE YEAR ENDED 31 MARCH 2024 2. Judgèm8nts and koy sources of astimatlon uncèrtalnty In application of the company's accounting policies. the trustees are required to make judgements, estimates and assumption5 about the carrying amounts of assets and liabilib"e5 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 $Its may (lrffer from these esb'males. The estimates and undertying assumptKJns are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in %thich the esbmate is revised where the revision affects only that period, or in the period of the revision and fvtU periods where the revision affects both current and future periods. Kay assumptions* judgemants and estimatss In the opinion of the trustees there have been no signfficant judgements made in the process of apptying the above accounting policies. There have been no key assumptKsn$ nCernIng fvlure and other key $our¢e$ of eslimalion uncertainty al the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liobililies wrthin the next financial year. Page 17
MIND IN FURNESS LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2024 3. Nat incom8 for the yoar 2024 2023 Thls Is statèd aftor ¢harying: Depreciation Independent Examination 4. Shops BarTOW Millom 2024 2023 2024 2023 Income 36,510 33.783 32.776 28,997 Expenses 138,1371 {48.390) 124,5331 {31,4871 Profil I ILossl 11.627) {14,6071 8.243 12,4901 5. Charftabla actlvltles 2024 Income Expendlture Surplu81 Idgficbtl Restncted Unrestncted RestrKted Unrestrthl RestrKled Unrestncted Grant funded . Ulverslon Millom sale Space 19.944 1,089 35.870 8,686 115.9281 15,5971 Charltable Actlvitl•s Sulherfand Street William Bingley Centre Co-op Resilience Active Monitoring Bewell Refuge and Asylum Seekers Project Active Listening Help Through Crisi$ Recovery star Eco-Therapy Sir John Fisher Foundation Counselling Health and Wellbeing 43,959 165,393 36.002 28,268 141,945 36,002 15,691 23,448 5,300 5,300 87,204 75,874 3.912 19,347 11,330 13,9121 5,284 24,631 6,711 62,407 13.177 77,407 21,600 33.808 18,000 16,4661 115,0001 121,6001 115,6491 18,159 18,000 4,560 13.024 17.550 4,560 {13.0241 117,5501 Totsl 243.445 249.914 341,SSS 210,775 198,1101 39,139 Page 18
MIND IN FURNESS LIMITED NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2024 2023 Incom• Exponditurn Surplusl Ideficitl Restricted UnreStrd Restricted urestrted Restricted Unrestricted Grant fund•d . Ulverslon Millom safe space 19.444 4,122 14.140 29.970 4,122 906 110.5261 13,234 Charitable Activities Counselling Sulhedand Street William Bingley Centre Active Monitoring Bewell Active Listening Help Through Crisis Coniston House Kickstart Scheme Recovery star Crisis café Eco-Therapy Refugee and Asylum Seeker Project 4.085 30.495 129,150 21.876 30.216 87,101 117.7911 279 42,049 5.740 52,911 6,062 6.711 10.000 8,971 16,940 9,183 126,000 2,304 40,934 52,911 5,814 245 32.646 8,971 16,940 23,023 47.445 22.843 135,1941 1.750 248 6,466 122.6461 1,750 15,266 39,954 124,6881 113,8401 78,555 120,539 13,707 113,7071 20 1201 Total 268.388 194.886 285.864 193.780 117,4761 1,1C6 8. Expondlturn 2024 Stoff costs 412,165 Depreciation 18.767 Council lax & water 3,691 rates 2023 356.965 23,123 5,966 Rent 14.020 Fuel and light 16.662 Insurance 12.297 Telephone 8.120 pps 6.$09 18.992 7.117 2.666 18,389 10,652 7,841 9,079 3.994 14,866 4,566 5,348 Repairs and renewals Computer costs Cleaning and sundries Cost of activities 57.035 Training 6.SS1 Other costs 30.408 67.893 779 30,060 615 000 559.521 Page 19
MIND IN FURNESS LIMITED NOTES TO THE FINANCIAL STATEMENTS (Gontinued) FOR THE YEAR ENDED 31 MARCH 2024 7. Tangible Fixed Assets Fixtures. Land and fittings & buildings equipment Computors Total Cost or valuation At 1 April 2023 Additions in the year 834.631 48.243 41,144 924.018 At 31 March 2024 834.631 48,243 41,144 924.018 Dèpre¢iatlon and Impairmènt At 1 April 2023 Depreciation charged in the year 62,778 16.692 40,411 1,959 41,028 116 144.217 18.767 At 31 Maich 2024 79.470 42.370 41,144 162.984 Carylng amount At 31 March 2024 755.161 5.873 761.034 At 31 March 2023 771,853 7,632 116 779,801 8. Dobtorn Amounts falling due 1n one year 2024 2024 Trade Debtors 157.122 75,014 Prepayments and aCcnd in¢ome 105,574 Other debtors 1,975 159.586 182,563 Page 20
MIND IN FURNESS LIMITED NOTES TO THE FINANCIAL STATEMENTS (Gontinued) FOR THE YEAR ENDED 31 MARCH 2024 9. Creditors Amounts falling due wilhin one year 2024 2023 Deferred Income- note 11 157.286 Trade Creditors 3.579 6,816 9,626 Other taxation and social security Other creditors 2.258 1,236 Accruals 7.440 S,518 7,263 5.368 Bank loan 25.611 180,779 10. Crodltors Amounts falling due after more than one year 2024 2023 Bank loan A gtsvernmenl secured Bounee-back klan for £50,000 was tsken out by HS8C UK in December 2020 10 ease the impact of the coronavirus reslriclions. The balance falling due after more than 5 years is £11,665. 11. Daferr•d Income Deferred income is inclLKled in the accounts as follows Projects that run5 for a further :. 2024 2023 3 months 52,523 51,308 53,455 7 months 1 year 157,286 Page21
MIND IN FURNESS LIMITED NOTES TO THE FINANCIAL STATEMENTS (Gontinued) FOR THE YEAR ENDED 31 MARCH 2024 12. Restricted Funds The income funds of the chartty include restn'cted fvnds comprising the following unexpended balances of donabons and grants held on trust for specific purp05e5 Movement in funds Balance at Income Expenditu Transfers Balance at 1 April 2023 31 March 2024 Help Through Crisis Ulverslon Mind Millom Safe Space Iliam 8ingley Centre Bewell Eco Therapy Refuge and Asylum Seeker Active Monitoring Sir John Fisher Foundation C¢unselling Health and Wellbeing Crisis Cafe Active Listening Recovery Star 62.407 22.622 1.819 5,300 177.4071 17,550 135.8701 13.248 16.6861 4.867 15,3001 13,9121 133.8081 20,045 119.3471 2,550 3.912 18,203 24.631 4,440 5,284 87,204 18,000 175,8741 118,0001 11,330 113.0241 13,024 117.5501 17.550 {78.5551 78,555 6,466 6,711 113,1771 121.6001 21,600 Totsl 88,933 246,897 {341,5551 29,329 23.604 Movemènt in funds Balance al Income Expendrture Transfers Balance 81 1 April 2022 31 March 2023 Help Through Crisis Ulverslon Mind Millom Safe Space Iliam Bingley Centre Bewell Eco Therapy Conislon House Active Monitoring Crisis Café Active Listening Kickstart Scheme Recovery Stsr Total 3.533 10,000 19.444 4.122 5.740 6,062 2,304 8,971 52.911 126.000 6,711 16,940 9,183 7.197 268.388 132.6461 129.9701 14.1221 140.9341 35,194 15.8141 122.8431 20,539 18,9711 152.9111 147.4451 12451 116.9401 23.023 13,840 {285,8641 99.212 19,113 10,526 3,664 3,912 78,555 6,466 88.933 Page 22
MIND IN FURNESS LIMITED NOTES TO THE FINANCIAL STATEMENTS (Gontinued) FOR THE YEAR ENDED 31 MARCH 2024 11. Restricted funds {continuedl Analysis of net assets behveen funds Unrestricte(l Restn"cted Totsl Fund balances al 31 March 2024 a presented by Tangible assets Current assets less liakn'lilies 761,034 761.034 329,956 23,604 353.S60 1.090,990 23,804 1,114,594 Unrestricted Restricted Total Fund balances at 31 March 2023 are represented by Tangible assets Current assets less liabilities 779,801 255,508 779.801 344.441 88,933 1,035,309 88.933 1,124,242 Page 23
MIND IN FURNESS LIMITED NOTES TO THE FINANCIAL STATEMENTS (Gontinued) FOR THE YEAR ENDED 31 MARCH 2024 11. Restricted funds {continuedl Halp through Crisis Relates lo the final inslalmenl of Lottery funding lo deliver the project'Help Through Cn5is- Positive Changes for P0511ive Lives. in partnership wlh Citizens Advice Barrow- this project addresses issues of financial resilience and mental healih crisis. Ulvorston Mlnd Funds received for the delivery of Mind in Furness Service in Ulverston, includes the final instslment of funds from Lloyds Foundab"on and donations received from the now closed Ubverston Min¢J. Millom Safe Space Transforming West Cumbria-Granl fijnding from Cumbria Community Foundation received a5 part of a Wesl Cumbria based collaborative to deliver mental health support via Millom Safe Space. Wllllam Blngloy C•ntr• Funds received to support the day to day runnin9 of the William Bingley Centre. specifically grant5 from Lancashire MIND. Bowell Grant from Cumbria County Council to deliver a number of community events wilh a focus on health and wellbeing in partnership with the council and kjcal groups. Ecotherapy Reimbursement of transport costs for ecctrtherapy oulingg pald for by Rusland Hofizons Conl$ton Hou¥• runnlng costs Final contra¢tual InMe from Cumbria County Council for the delivery of support to 5 residents in the supported living scheme al Coniston H¢)use. Actlv• Monltoring Annual Grant lo delNer Active Monitoring lo all GP'S across the primary Ca nets¥ofk footprint from Ba(row and Millom Primary re nets¥ork. Crlsis Café Grant to develop extended opening service including evenings and weekends lo serve as allemalive to A&E for mental health crisis support NHS Lancashire and South Cumbria Inlegraled Care Board Actlvo Listoning Grant to deliver Active Listening training and Community health events population heallh- priority wards funding. Klckstsrt S¢h•me Govemment lunding for Kickstsrl Scheme- offering work placemenls to 2 individuals for 6 months. Recovory Star Grant received from Alex Ferry foundab.on towards delivery costs of Recovery Star programme. Refuge and Asylum Seekers Grant to be used to support the mental healih needs of Refugees and Asylum Seekers in partnership wlh Furness Multi Cultural Forum. Page 24
MIND IN FURNESS LIMITED NOTES TO THE FINANCIAL STATEMENTS (Gontinued) FOR THE YEAR ENDED 31 MARCH 2024 13. Restricted funds (continued) SirJohn FIsr Foundation Grant to be used to support volunteer coordinats"on. Counselling Funding for ongoing development and delivery of generic mentsl health counselling services. H•alth ind WèlIlng Funding to build links with Heatth and Vvellbeing Coaches and lo develop health coaching skills in staff team. 14. Trusteos Tru$tee$ recewed neither remuneralion nor reimbursemenl of any costs during this or the previous year. 15. Employ008 Employee costs ¢Juring the year 2024 2023 Wages and Salaries Social security costs Pension costs IL344 The average number of employees during the year was as follows.. 2024 2023 Management Charitable activities No employee5 received more than È60.000 in the year. 16. Op8ratlng Ise commltm8nts At the reporting date the Charity had OLrtstanding commitmenls for ftrture minimum lease payments under non-cancellable operating leases, which fall due as follows.. 2024 2023 Wlhin 1 year Beeen ts¥o and five years Page 25
MIND IN FURNESS LIMITED NOTES TO THE FINANCIAL STATEMENTS (Gontinued) FOR THE YEAR ENDED 31 MARCH 2024 17. Taxation As a charty, Mind in Furness Limrted is exempt from tax on income and gains falling within sections 472- 474 of the Corporation Tax Act 2010, section 478489 of the Corporation Tax Act 2010, or s256 of the Taxats'on of Chargeable Gains Act 1992 to the extent that these are applied to its ¢haritsble objects. No tax charges have arisen in the Charity. 18. Control No single individual has had control of the company in the current or previous year. 19. Related Partios Remunerats'on of key management personnel is as follows.. 2024 2023 Aggregate compensation Page 26