2025-03-31-accounts - Richmond Borough Mind

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Registered Company No. 07954134

Registered Charity No. 1146297

RICHMOND BOROUGH MIND

Report of the Trustees and Financial Statements

For the year ended 31 MARCH 2025

RICHMOND BOROUGH MIND REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

CONTENTS
	Page
Company information	3
Report of the trustees	4 - 16
Independent auditor’s report	17 - 19
Statement of financial activities	20
Balance sheet	21
Statement of cash flows	22
Notes to the financial statements	23 - 31

RICHMOND BOROUGH MIND REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

The Trustees present their report with the financial statements of the Charity for the period ended 31 March 2025.

Role

The objects for which the Association is established are primarily, but not exclusively, within the London Borough of Richmond upon Thames:

(1) to promote the preservation of good mental health in particular by enabling and empowering everyone experiencing mental health problems to live with, manage and recover from their condition.
(2) to relieve the needs of people with mental health problems by working to increase the understanding of mental health and mental health problems by gathering and disseminating information and working to raise awareness, promote understanding and challenge stigma and discrimination.

Officeholders, Trustees and Management

Trustees Gurjit Mahil, Chair Kim Tasso (Resigned April 2024) Monika Waller (Resigned February 2025) Lisa Leonard Samuel Hopcroft Tracy Cherrington Sarah Talbot Reema Kotecha Vikram Yadav, Treasurer Jack Carling (Resigned July 2025) Murray Cook Aarti Gurnani (Appointed March 25) Claire Debney (Appointed March 25) Charity No. 1146297 Company No. 07954134 Chief Executive Val Farmer Principal office UK House, 82 Heath Road, Twickenham, Middlesex, TW1 4BW Bankers CAF Bank Limited, 25 Kings Hill, West Malling, Kent ME19 4JQ Auditors Goldwins Limited, 75 Maygrove Road, West Hampstead, London NW6 2EG

RICHMOND BOROUGH MIND REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

Structure, Governance and Management

Constitution

Richmond Borough Mind (RB Mind) is a charity operating under a written constitution. It was incorporated on 17[th] February 2012. It was registered as a charity on 8[th] March 2012. The earlier Charity (number 263810) was formed in April 2001 from a merger of Twickenham Mind, founded in 1959, and Richmond and Barnes Mind, founded in 1971, and its assets and liabilities were transferred on 1[st] April 2012 to the newly incorporated Charity.

Trustees

Members of the Board are elected annually at the Annual General Meeting. Between Annual General Meetings new members can be appointed, with formal tenure commencing following election at the AGM.

On retirement or resignation of any Trustee, the Board reviews the skills across the existing trustees to identify any gaps and will recruit to fill those skills.

Trustees are recruited through a process of advertisement and participation at local volunteer recruitment sessions, followed always by application and interview by a sub-group of the Board, with the aim of securing a good range of experience and skills for the Trustee board. There are no outside bodies entitled to appoint Trustees.

New Trustees are inducted through visits to services, governance documents including the charity’s Memorandum and Articles and the Charity Commission’s guide ‘The Essential Trustee’, opportunities to attend training on governance and the Trustee role and all aspects of mental health, and policies including Risk Management, Safeguarding, Financial Procedures, Equality and Diversity, Confidentiality and Anti-Bribery.

During 2024 two new Trustees were recruited and two resigned, nearing the end of their tenures.

Risk Management

The Trustees have reviewed and updated the risk management processes against the Charity Commission guidance. Trustees consistently review the major risks to which the Charity is exposed, and where practical, take steps to guard or mitigate against them. RB Mind has clear, regularly updated policies on professional good practice and on areas such as safeguarding, health and safety and financial procedures.

All Trustees are required to undertake risk, finance and safeguarding training. There are designated leads on the board for Risk, Equity Diversity, Equality and Inclusion (EDEI) and Safeguarding. The latter ensures the Board has oversight and understanding of safeguarding issues, policy and procedures and their implementation. There is a designated Safeguarding lead on the staff team and staff receive appropriate training. Compliance and standards of performance are monitored through the appraisal and supervision process and reported through the committee structures.

All staff undertake training in Safeguarding, Cyber Fraud and relevant financial processes.

RICHMOND BOROUGH MIND REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

An outsourced Data Protection Officer was appointed and in 2024 and carried out an audit of all RB Mind’s related policies and procedures. Refresher training on data protection and Cyber security was provided to staff and volunteers.

Key risks Mitigations Reliance on statutory funding, with • Continued investment in fundraising capacity, two NHS contracts constituting half with an additional Fundraising Officer recruited RB Mind’s income in 2023

Expanding delivery options and funding sources for services

Impact of deficit budget on reserves • Reserves policy reviewed and board agreed 2.5 due to National Insurance months of operating cost to be lowest safe level; Contribution requirements and budget for 25/26 based on substantial income reduced inflationary increases in generation plan; agreeing reduced costs and contracts reduced outputs with commissioned services to stay within required budget; revised service model and plan for growth to ensure all services cover costs; active vacancy management; reducing core infrastructure costs

Cost of Living impact on staff • Inflationary pay rise set at 3%; London Living retention Wage increase addressed; increase to NIC absorbed
Changing NHS commissioning • Strengthen collaboration and partnerships for bodies and models of bidding for funds commissioning
Ensure quality of services through data management and Service User feedback

Governance structure

The Board meets six times a year and is responsible for the strategic direction and policy of the Charity. In 2024 the board reviewed the committee structure and changed the remit of each committee. The Full Board delegates tasks to three committees:

Finance and Risk Committee meets prior to each Board meeting to review the risk register in detail and to review management accounts and cash flow, and ensure financial procedures are adhered to and updated as necessary.
Services and Quality Committee meets prior to each Board to review how RB Mind delivers high quality and safe services, and to support RB Mind’s overall quality management.
Business Development and Innovation Committee. Introduced in 2024, this committee reviews and supports fundraising strategy and income generation.

RICHMOND BOROUGH MIND REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

A further review of the committee structure in summer 2025 anticipates the introduction of an Operations and Resources Committee with a redistribution of some of the HR and Operational risk management to this committee from autumn 2025.

The Charity’s Chief Executive attends and advises each committee, with the support of relevant staff, and has been delegated responsibility for the running of the Charity and its performance. The Charity maintains a Schedule of Delegation detailing where responsibilities are held across the Board of Trustees, committees and the executive teams.

Governance and Quality

RB Mind works to the Mind Quality Management (MQM) standard, closely aligned to the Charity Governance code. A full peer review against the MQM standards is carried out every three years, most recently over spring of 2022. RB Mind achieved success in all standards and won an Excellence Award for Effective Services. The next review is due in autumn 202533 xecutive and staff pay

The Chief Executive and senior staff salaries are reviewed annually by a sub-group of the Board, benchmarking with other local Minds, the wider voluntary sector, and referring to ACEVO’s pay survey when available.

Staff remuneration is also reviewed annually by the Board against the rate of inflation and consideration is given to a general increase taking into account the organisation’s financial position. In 2024/25 a general increase of 5% was given, and 3% in April 2025. The Board has adopted the London Living Wage. A group personal pension scheme is available to all staff, with a minimum staff contribution of 4% matched by an Employer contribution to a maximum of 5%.

Staff Development

There were 53 full and part-time staff in 2024/25. All staff have access to training throughout the year, both mandatory and specialist as required. There is a regular, anonymous staff survey to measure staff well-being and happiness about various aspects of their roles and employment. The organisation was also supported by 53 Volunteers who received relevant training and development.

Statement of Trustees’ responsibilities

The Trustees are responsible for preparing the Annual Report and financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.

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 Charity’s financial activities during the year and its financial position at the end of the year. In preparing those financial statements, the Trustees are required to:

Select suitable accounting policies and then apply them consistently, making judgements and estimates that are reasonable and prudent; and
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.

RICHMOND BOROUGH MIND REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

The Trustees are responsible for keeping accounting records which 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 Acts. 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. All Trustees have signed the new Automatic Disqualification declaration introduced in August 2019.

RB Mind’s local and national partners

RB Mind is affiliated to National Mind but is an independent organisation. No funding was received from National Mind in 2024/25. Through affiliation fees National Mind provides block insurance and access to outsourced HR and employment advice.

Access to information and resources is provided through a Mind intranet (Connecting Minds) run by National Mind, through an annual online Mind Conference, and bi-annual Mind Leadership Conference. Bi-annual regional meetings are held between local and national Mind where strategic priorities are explored to enable effective implementation.

RB Mind is active in Mind in London, a collaborative body of London Minds which provides opportunities for sharing resources, learning from best practice, joint fundraising and joint procurement activity where appropriate.

Increasingly important is the ability to work at South West London regional level to reflect the commissioning arrangements of the South West London Integrated Care Board. RB Mind does this through a collaboration with the other local Minds in Kingston, Croydon and Wandsworth.

Locally, RB Mind is actively involved in a number of groups to ensure the voice of mental health service users is heard across the health and social care sector. RB Mind chairs the Richmond Mental Health and Wellbeing Alliance, with the Local Authority providing secretariat support. RB Mind’s CEO is one of two Voluntary Sector Mental Health representatives for South West London Mental Health Partnership Delivery Group under the Integrated Care Board. Other groups include the Carers Strategy Group, Integrated Care System’s involvement group Community Voices Richmond, Local Authority’s Care and Support Partnership Board, and local Health and Wellbeing Network.

RB Mind works in partnership with other local charities (Age UK, Ruils, Integrated Neurological Society (INS), Richmond AID, Citizens Advice Richmond and others) and South West London and St George’s Mental Health Trust in the provision of local services.

Key Achievements in 2024/2025

The Charity develops a separate short Impact Report every year demonstrating the difference made to individuals’ lives. Highlights in this year:

Chosen as one of the two local Mayor’s charities for 2024/25.
Reaching more than 4,611 people through Services and Training.
Developing a breakeven model for self-funded Psychotherapy and Counselling Service, with a growth model for 2025/26

RICHMOND BOROUGH MIND REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

Carers in Mind expanded service delivery by introducing evening activities, ensuring greater inclusivity for carers who work during the day. In addition, the team began developing a comprehensive Carers Handbook and launched an online events calendar, providing carers with quick and easy access to information and opportunities available to them.
Selected by JP Morgan under their Force for Good programme receiving valuable consultancy and research to identify an appropriate HR system for our needs, to be implemented in 2025/26
Developing corporate partnerships with local jewellery brand Augusta and George by TKLE, and LBox distribution company.

Strategic Objectives for 2024-2026

Through a series of development meetings, service user and staff surveys and feedback, the Trustees reviewed the Strategic Objectives in light of the current economy, developments in health and social care, and in line with National Mind priorities and agreed a revised set of priorities for 2024 to 2026.

Sustain and Improve services by increasing reach to under-served communities
Strengthen the Support Networks (family, friends, local organisations) for people with mental health issues
Increase Influence and Visibility of Richmond Borough Mind for the benefit of mental health beneficiaries
Ensure long-term sustainability and growth by diversifying funding sources and improving operational efficiency

Future plans and considerations:

Psychotherapy and Counselling has been and continues successfully to be expanded in the next 18 months with a view to providing more subsidised low-cost sessions.

Two long term services are to be re-tendered for April 2026: Crisis Cafes and Wellbeing Centre services. Richmond Mind is working actively with service users, carers and partner organisations to ensure success in these bids.

There is an identified need nationally and locally for prevention support for children and young people’s mental health. RB Mind is keen to identify opportunities to develop the appropriate services.

The people we aim to benefit

The Trustees have considered the Charity Commission’s guidance on public benefit when reviewing the work of the Charity and our future activities.

RB Mind’s client groups are young people, adults, including older adults with mental health needs, and carers living in the borough of Richmond. Services span low to moderate to more complex needs.

RICHMOND BOROUGH MIND REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

Our Services:

Richmond Borough Mind provides services across the spectrum of mental health needs, from low to moderate needs to more complex needs and for people in crisis.

Services for people with Complex Needs / Support in Crisis

Wellbeing Centre, Local Authority and ICB funded

120 people were supported in the Wellbeing Centre, nearly 50% being new referrals.

The Wellbeing Centre has existed in various forms and locations for more than 30 years. The primary client group is people who have been under statutory mental health services and live with a chronic mental health condition which they seek help to manage to enable them to live well in the community.

It offers a range of psycho-educational and practical groups and one-to-one support aimed at improving confidence and self-esteem, working with service users to achieve life goals.

Specialised groups, Recovery from Trauma and Hearing Voices, provide in-depth support, with many people who may have been in services for years making a significant improvement to their mental health.

The service works closely with the community mental health teams, social services, Citizens Advice, Richmond AID, Turner’s House (local artists and a community horticulturist) and Kew Gardens.

“The Wellbeing Centre offers me support with my difficulties and have taught me how to handle my emotional difficulties and personal relationship better.” Wellbeing Centre Feedback 2024

Peer Support, funded by South West London and St George’s NHS Trust.

164 peers and carers were supported in year 3 of this project.

In 2024/25 RB Mind was commissioned as lead provider of a new Peer Support service by South West London and St George’s NHS Trust. VCSE partners AgeUK, Crossroads Care and Richmond AID are subcontracted to run specialist elements. Clients are referred by the Trust for one to one and group support from a team of Peer Support Workers.

In the past year, as a partnership, we have been able to:

Support 343 Peers and Carers,
Deliver 1300 one-to-one sessions,
Held 122 support groups,

RICHMOND BOROUGH MIND REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

Wellbeing outcomes:

99% of total service users / Carers were able to maintain or improve their mental health and wellbeing.
87% of Service Users / Carers felt more confident in dealing with their day-to-day lives and felt more hopeful about their recovery.
80% of Service Users / Carers improved their support networks or social connections.

Journey Recovery Hub (Crisis Cafes), ICB funded

160 new people were supported.

Two hubs providing out-of-hours non-clinical crisis support operate in RB Mind’s community building at 32 Hampton Road and the Alfriston Centre in Kingston. Support is provided for people in pending crisis every evening and at the weekend. Clients report to the hubs suffering from isolation, PTSD, self-harm, eating disorders, depression and anxiety.

The team play a significant role in crisis prevention, reducing risk of suicide and working with clients to develop their own crisis plans and coping techniques. The aim is to prevent crisis and to serve people who would otherwise attend the local emergency departments. The team works closely with the mental health teams and the police, and referrals continue to increase.

Journey Recovery Hub is so positive, it really supported me having someone to talk to about giving another perspective with certain things. They saved my life. Healthwatch Crisis Café Survey 2023

Services for people with low to moderate Mental Health Needs:

Peer Group Network / Befriending, Local Authority funded (via AgeUK Richmond)

The Network comprises groups run by and for people who experience mental health problems. The project encourages our members to build their own support networks, develop skills and reduce isolation, and is funded by the local authority through the local Community Independent Living Scheme (CILS) initiative, and fwith a significant contribution from the Hampton Fund.

This service runs at full capacity with referrals mainly coming from Social Prescribers, GPs, self-referral and other RB Mind services.

Talking Therapies Richmond (was Richmond Wellbeing Service)

In 2024/25 RB Mind Talking Therapies Richmond team treated over 3040 patients (approximately 50% of the whole service), meeting access targets and exceeding the nationally targeted recovery rate of 50% by more than 10% in some months.

Talking Therapies Richmond is an NHS service and offers a range of support to people experiencing common mental health problems such as depression and anxiety. The service offers cognitive behavioural techniques to feel better and keep well in the future, mainly through group work. RB Mind is contracted for the Low Intensity element by South West London St George’s NHS Trust (SWLStG).

RICHMOND BOROUGH MIND REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

Services spanning all levels of needs

Carers in Mind

Families and friends play a vital role in supporting people with mental health problems. The Carers in Mind team in turn supports them with their own mental health needs through oneto-one meetings, information, social activities, and psycho-educational workshops to increase their understanding of mental health issues and how they can affect their cared-for. There is a strong peer support element in the provision, with a number of well-attended carers’ peer support groups across the borough.

The team works extensively with the community mental health teams, with ward staff and other voluntary sector organisations. A regular surgery with social services is provided to increase carers’ access to support they are entitled to receive.

62% of carers indicated they had been treated with respect and dignity, 42% felt less isolated through joining the service, 46% felt support to maintain their mental health. I have benefited from the support I have received, because I feel much better

I have benefited from the support I have received, I feel much better informed about the different organisations I can go to for extra help when needed. I have found the learning lunches really helpful and interesting, and now I have more knowledge and understanding about mental health. Carers Survey 2024

Outreach Services, Funded by Local Authority and ICB

The Outreach team continued to support community hubs across the borough, providing mental health interventions and signposting to appropriate services. The service supports people with more complex and multiple needs possibly stemming from food poverty, homelessness or alcohol and substance misuse and from a range of diverse communities, including Asian, Ukrainian, other East Europeans and the LGBT+ communities.

The team continues to build opportunities for people to access mental health support in the community, offering sessions in many new settings including foodbanks, drug and alcohol services and community centres.

Psychotherapy and Counselling

97 service users attended therapy, with an average of 20 volunteer counsellors each week.

The service offers a range of one to one and group psychotherapy and counselling models, providing a safe confidential space to explore and talk with a professional therapist. Clinical supervisors provide weekly supervision to the therapy team ensuring the service users are receiving a high quality service meeting the BACP ethical standards.

The service is self-funding, with 30% of clients offered the lowest cost sessions, and 15 clients were subsidised by funds from The Richmond Charities. RB Mind remains one of the few lowcost options for longer term counselling in the borough. Cost of living challenges have meant more clients being unable to afford therapy and RB Mind is very grateful to The Richmond Charities for increasing their grant fund again this year.

RICHMOND BOROUGH MIND REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

The diverse team of therapists enables RB Mind to provide a service for a more diverse group of clients.

“I came for help, but I found understanding, patience, and a safe space to grow.” Client Feedback 2024

Mind ‘n Mortlake is a satellite service of the Wellbeing Centre meeting on a Friday for a range of activities including art, outings and discussion. The aim behind the social, educational and recreational activities is to assist those with a lack of support, low self-esteem and confidence, helping them take steps towards personal goals.

The Positive Living Group on Wednesdays in Barnes is popular and focusses on relaxation such as chair yoga and food and nutrition. Service users learn how to choose and cook healthy foods, and how diet can impact on mental and physical health.

Volunteering

53 volunteers provided more than 6,042 hours of support across the organisation.

Our Volunteer Coordinator, funded in part by Hampton Fund, provides specific support for both volunteers, many of whom have experience of mental health problems, and for the staff who support the volunteers within our projects.

Volunteers run peer groups, deliver counselling sessions in the Psychotherapy and Counselling Service, support the Carers in Mind and Wellbeing Centre service activities, support the finance function and support communications through social media and events.

Business Development, Training and Communications

With an increased focus on community events and fundraising a number of successful fundraising events have been held including the annual quiz and great success with the annual Mind Mental Elf fun run.

We were delighted to have been chosen as Charity of the Year by Augusta and George, a local jewellery brand, and LBox distribution company and continue to seek new corporate partnerships.

Training clients have included London Boroughs of Richmond and Wandsworth, Kew Gardens, National Archives and the Poppy Factory.

RB Mind was chosen as one of the two local Mayor’s charities in 2024/25 with a number of awareness raising and fundraising opportunities throughout the year, giving great opportunity to raise the charity’s visibility and raise funds.

The Charity does not engage any external fundraising support. We have received no complaints about our fundraising activity and are pleased to receive regular comments on the value of our work from the people who fundraise for us.

Mindful Memo provides regular tips and insights in managing mental health and directing people to relevant services. This newsletter reaches 1,800 people bi-monthly.

RICHMOND BOROUGH MIND REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

Financial Review:

In the year to 31[st] March 2025, income decreased by 4.9% to £1,876,346. This decline was mainly due to factoring in lower than inflation uplifts across a range of contracts and projects, coupled with declining revenues in our earned income from counselling and the general downturn in fundraising, reflecting the difficult operating conditions during the financial year.

Expenditure was static year on year, decreasing marginally from £1,956,280 to £1,954,078. The expenditure base included the full year effect of the agreed 23/24 establishment infrastructure uplift, coupled with across the board, staff and service staff pay rises increases, mitigated by operating cost and salary savings during the year against full establishment.

The principle of Full Cost Recovery has been applied to our projects, based on Full Time Equivalent Staffing of the projects. Due to the decline in revenues below budgeted levels, an overall deficit of £77,732 resulted in a reduction of funds to £607,701 (as shown in the Statement of Financial Activities in the accounts and Note 13 - Funds Analysis).

As ever we are grateful for the support of our local funders and supporters, who are detailed in a thank you section on page 16 of these accounts. in memoriam donations, other local organisations and other donations are valuable in the support of our services.

Income by Project Area:

RICHMOND BOROUGH MIND REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

Income Breakdown by Funding Source:

RICHMOND BOROUGH MIND REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

Investment policy

Interest rates have held during the course of the year. Cash balances are automatically managed between the interest-bearing CAF Gold account and the CAF Current Account to meet cash flow requirements in this financial year. The sum invested in the CAF Platinum Account remains at the same level.

It is planned to reinvest significant reserves funds during 2024/2025 to take advantage of continuing high savings rates available in the market.

A large deposit of £85,000 was transferred from the CAF Gold Account in 2024/2025 into a Cambridge and Counties Bank - One Year fixed rate Bond at 5.15% interest, to help maximise interest returns. A reasonable sum is always kept at CAF bank to help manage RBM cash flow requirements.

Reserves Policy

RB Mind holds reserves to increase resilience in times of uncertainty, to provide a temporary buffer if funding is lost, and to cover any future potential liabilities that are not provided for in the accounts.

RB Mind’s funding model is a mixed one, with substantial funding coming from statutory bodies such as the London Borough of Richmond and the NHS, and the majority of the rest from nonstatutory grants. Through building fundraising activity, we are trying to increase the level of income generated from donations and other sources in order to provide funds for new projects as well as ensuring that all overheads are covered. The Board has setup a new Business Development and Innovation Committee to create a new fundraising strategy.

Some projects are funded by a sole funder, others may be funded by a mixture of funders. If funding for a particular project is lost, reserves may be used while alternative funding is sought, but if this is not possible the project would generally be terminated. In some cases, a project may be taken over by a different operator. The Board reviews risks to funding on a regular basis and has contingency plans for the loss of funding.

At the balance sheet date, free reserves (after deducting the value of fixed assets and restricted reserves) was £409,238 which is just less than 2.5 months of future forecasted operating costs. The Board had agreed additional expenditure on core infrastructure to enable growth in capacity and sustainability and this will be reviewed in 2025/2026.

The Board’s revised reserves target, reflecting current operational reality is to hold a minimum 2 months of operating costs as reserves, which based on the latest forecast for 2025-2026, equates to approximately £348,181. The outlook for 2025/2026 is another year of difficult trading but the aim is to rebuild reserves over the period of the next strategic plan to 2027/2030, by generating small operating surpluses in each trading year going forward.

RICHMOND BOROUGH MIND REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

Thank you to our funders and fundraisers

We of course could not offer the services or have the same impact without the support of our funders and fundraisers, and those who give their support in kind. They are acknowledged below, and we thank them all most sincerely. In addition, we would like to thank those funders who wish to remain anonymous.

Age UK Richmond Charites Big Yellow Richmond Richmond Foundation Hampton Fund South West London & St Georges NHS Trust Heathrow Community Trust South West Lonon Integrated Care Board Kew Fete St Michaels and All Angels Church London Borough of Richmond Upon Thames St Stephen’s Church LBox Communications The Barnes Fund Richmond Carers Centre TLKE

Statement as to Disclosure of Information to Auditors

The Trustees in office at the date of approval of this report have confirmed that, as far as they are aware, there is no relevant audit information of which the auditors are unaware.

Each of the Trustees has confirmed that they have taken all the steps that they ought to have taken as Trustees in order to make themselves aware of any relevant audit information and to establish that it has been communicated to the auditors.

The Trustees’ Report was approved by the Trustees on 4 December 2025 and signed on their behalf by:

Gurjit Mahil Chair of Trustees

RICHMOND BOROUGH MIND INDEPENDENT AUDITOR’S REPORT FOR THE YEAR ENDED 31 MARCH 2025

Opinion

We have audited the financial statements of Richmond Borough Mind (the ‘Charity’) for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, statement of cash flows 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, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

give a true and fair view of the state of the Charity’s affairs as at 31 March 2025 and of its income and expenditure for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
have been prepared in accordance with the requirements of the Companies Act 2006 .

Basis for opinion

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

Conclusions relating to going concern

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

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

Our responsibilities and the responsibilities of the directors 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 auditor’s report 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

RICHMOND BOROUGH MIND INDEPENDENT AUDITOR’S REPORT FOR THE YEAR ENDED 31 MARCH 2025

be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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:

the information given in the Trustees’ report (incorporating the directors’ report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Trustees’ report (incorporating the directors’ report) has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

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

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

adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us;
the financial statements are not in agreement with the accounting records and returns;
certain disclosures of trusteesʼ remuneration specified by law are not made; or
we have not obtained all the information and explanations necessary for the purposes of our audit.

Responsibilities of the Trustees

As explained more fully in the Trusteesʼ responsibilities statement, the Trustees 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 they 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 Charityʼs 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 Charity or to cease operations, or have no realistic alternative but to do so.

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 an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will

RICHMOND BOROUGH MIND INDEPENDENT AUDITOR’S REPORT FOR THE YEAR ENDED 31 MARCH 2025

always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

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

We enquired of management, which included obtaining and reviewing supporting documentation, concerning the charity's policies and procedures relating to:
The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations.
We inspected the minutes of meetings of those charged with governance.
• We reviewed the financial statement disclosures and tested these to supporting documentation to assess compliance with applicable laws and regulations.
In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias and tested significant transactions that are unusual or those outside the normal course of business.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities 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 auditor’s report.

This report is made solely to the Charity’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 Charity’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Anthony Epton (Senior Statutory Auditor) for and on behalf of Goldwins Limited Statutory Auditor Chartered Accountants 75 Maygrove Road West Hampstead London NW6 2EG 4th December 2025

RICHMOND BOROUGH MIND STATEMENT OF FINANCIAL ACTIVITIES (incorporating an income and expenditure account) FOR THE YEAR ENDED 31 MARCH 2025

			2025	2024
	Unrestricted	Restricted	Total	Total
	funds	funds	funds	Funds
Notes	£	£	£	£
Income from:
Charitable activities: 3	882,792	950,297	1,833,089	1,943,121
Other trading activities 4	32,030	210	32,240	18,663
Investment income 5	11,017	-	11,017	10,637
Total income	925,839	950,507	1,876,346	1,972,421

Expenditure on:
Raising funds	64,885	-	64,885	44,186
Charitable activities	869,958	1,019,235	1,889,193	1,912,094
Total expenditure 6	934,843	1,019,235	1,954,078	1,956,280

Net income before fund transfers	(9,004)	(68,728)	(77,732)	16,141

Transfers between funds	(79,462)	79,462	-	-

Net movement in funds 14	(88,466)	10,734	(77,732)	16,141

Total funds brought forward	595,680	89,753	685,433	669,292

Total funds carried forward	507,214	100,487	607,701	685,433

The attached notes form part of these financial statements.

RICHMOND BOROUGH MIND BALANCE SHEET AS AT 31 MARCH 2025

		2025		2024
	Notes	Notes £		£	£
FIXED ASSETS
Tangible assets	7		96,977	96,977	100,447
CURRENT ASSETS
Debtors	8	310,217	310,217	203,672	203,672
Cash at bank and in hand		391,771		593,290
		701,988		796,962
CREDITORS:
Amounts falling due within one year	9	(168,325)		(190,921)
Net current assets			533,663		606,041
CREDITORS:
Amounts falling due after more than one year	10		(22,939)		(21,055) ______
			_
					_
			510,724		584,986
Total assets less current liabilities	Total assets less current liabilities		607,701		685,433
FUNDS	11
Unrestricted funds			507,214		595,680
Restricted funds			100,487		89,753
			607,701		685,433

The accounts were approved by the board of directors on 4 December 2025 and signed on their behalf by

Gurjit Mahil (Chair) Company Registration No. 7954134

RICHMOND BOROUGH MIND CASH FLOW STATEMENT AS AT 31 MARCH 2025

The attached notes form part of these financial statements.

2025	2024
Notes £	£
Cash flows from operating activities:
Net cash provided by / (used in) operating activities 14	(211,096)	(151,387)

Cash flows from investing activities:
Interest/ rent/ dividends from investments 11,017	10,011
Sale /(purchase)of fixed assets (1,440)	-
Cash provided by / (used in) investing activities	9,577	10,011

Change in cash and cash equivalents in the year	(201,519)	(141,276)

Cash and cash equivalents at the beginning of the year	593,290	734,566

Cash and cash equivalents at the end of the year 15	391,771	593,290

RICHMOND BOROUGH MIND NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 ACCOUNTING POLICIES

a) Basis of preparation

The financial statements have been prepared in accordance with 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 2015) - (Charities SORP FRS 102) and the Companies Act 2006.

The charitable company meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

b) Going concern

The Trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern. The Trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

c) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Income received in advance for the provision of specified service is deferred until the criteria for income recognition are met.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.

d) Donations of gifts, services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the Trustees’ annual report for more information about their contribution.

On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

e) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

RICHMOND BOROUGH MIND NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

ACCOUNTING POLICIES (continued)

f) Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the Trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.

g) Expenditure and irrecoverable VAT

Value Added Tax is not recoverable by the Charity, and as such, is included in the relevant costs in the Statement of Financial Activities.

h) Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back-office costs, finance, personnel, payroll and governance costs which support the Charity’s activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 6.

i) Operating leases

Rental charges are charged on a straight-line basis over the term of the lease.

j) Tangible fixed assets

Fixed assets are all used for the Charity’s purposes and are included at cost and are depreciated on a straight-line basis at the following rates: -

Freehold buildings - 2% Fixtures fittings and equipment - 10% Office equipment - 10%

Only purchases costing more than £1,000 are capitalised.

k) Stocks

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.

l) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

m) Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

n) Creditors 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 party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

RICHMOND BOROUGH MIND NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

2 DETAILED COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

	Unrestricted	Restricted	2024 Total
	Funds	Funds	funds
	£	£	£
Income from:
Charitable activities:	840,748	1,102,373	1,943,121
Other trading activities	16,497	2,166	18,683
Investment income	10,111	526	10,637
Total income	867,356	1,105,065	1,972,421

Expenditure on:
Raising funds	44,186	-	44,166
Charitable activities	822,438	1,089,656	1,912,094
Total expenditure	866,624	1,089,656	1,956,280

Net income before fund transfers	732	15,409	16,141

Transfers between funds	(15,655)	15,655	-

Net movement in funds	(14,923)	31,064	16,141

Total funds brought forward	610,603	58,689	669,292

Total funds carried forward	595,680	89,753	685,433

RICHMOND BOROUGH MIND NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

3 GRANTS AND DONATIONS

After allowing for grants in advance brought forward and carried forward

Unrestricted	Unrestricted	Restricted	Total 2025	Total 2024
£		£	£	£
Statutory Grants London Borough of Richmond Upon Thames - Richmond Carers Centre - Wandsworth Council- Covid research - NHS Richmond –Youth - NHS Richmond - Journey Recovery Hub - - Non-Statutory Grants/Funding and Contracts Hampton Funds - Richmond Parish Lands Charity 60,000 Richmond Charities - London Borough of Richmond Upon Thames - South West London St Georges NHS TTR 771,817 South West London St Georges NHS PS Barnes Workhouse Fund 9,000 Heathrow Community Trust - Mind Enfield and Barnet - National Mind Youth Grants - National Mind Counselling Grant - Age UK - Lambert Charitable Trust 1,000 Sunny Lives 5,000 Other Grants 30,800 Other Donations 5,175 Psychotherapy & Counselling -		126,171 120,847 - - 256,447 41,500 - 8,640 37,887 - 304,000 - 3,750 - - - 27,000 - - - - 1,374 22,681	126,171 120,847 - - 256,447 41,500 60,000 8,640 37,887 771,817 304,000 9,000 3,750 - - - 27,000 1,000 5,000 30,800 6,549 22,681

				232,980 110,313 2,000 30,800 254,917

				45,200 55,550 11,655 733,106 733,106 277,600 9,500 - 14,223 4,825 30,315 25,512 - - 58,343 15,178 31,104
	882,792	950,297	1,833,089	1,943,121


4 OTHER TRADING ACTIVITIES
	Unrestricted	Restricted	Total 2025	Total 2024
	£	£	£	£
Corporate Partners	3,000	-	3,000	5,000
Core Contributions	1,758	-	1,758	-
Fairs and Events	4,541	210	4,751	2,971
Fund Generation	12,306	-	12,306	2,767
Workshops	-	-	-	500
Trainingincome	10,425	-	10,425	7,425
	32,030	210	32,240	18,663

5 INVESTMENT INCOME
	Unrestricted	Restricted	Total 2025	Total 2024
	£	£	£	£
Sales of shares	-	-	-	526
Bank interest received	11,017	-	11,017	10,111
	11,017	-	11,017	10,637

RICHMOND BOROUGH MIND NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

6 ANALYSIS OF EXPENDITURE

	Cost of
	raising	Charitable	Support	Governance	2025	2025 2024	2024
	funds	Activities	costs	costs	Total	Total Total	Total
	£	£	£	£	£	£ £	£
Staff costs	54,482	1,236,225	260,757	-	1,551,464	1,535,873	1,535,873
Other staff costs	65	5,392	7,384	-	12,841	45,221	45,221
Direct projects costs	2,392	208,784	4,593	-	215,769	204,814	204,814
Audit fees	-	-	-	5,500	5,500	5,500	5,500
Other governance costs	748	584	1,838	-	3,171	3,172	3,172
Legal & professional
fees	-	2,933	6,510	-	9,443	12,764	12,764
Marketing and publication	Marketing and publication -	-	173	-	173	3,527	3,527
Subscriptions	854	36	7,040	-	7,930	9,393	9,393
Depreciation	-	4,838	72	-	4,910	4,838	4,838
Premises costs	5,065	77,631	5,532	-	88,228	78,795	78,795
Office running costs	1,279	32,174	21,197	-	54,650	52,383	52,383
	64,885	1,568,597	315,096	5,500	1,954,078	1,956,280	1,956,280
Support costs	-	315,096	(315,096)	-	-	-
Governance costs	-	5,500	-	(5,500)	-	-
Total expenditure 2024	64,885	1,889,193	-	-	1,954,078

Total expenditure 2024	44,186	1,912,094	-	-	-	- 1,956,280

Of the total expenditure £934,843 was unrestricted expenditure (2024: £866,624) and £1,019,235 was restricted expenditure (2024: £1,089,656).

Support and governance costs refer to the costs involved in operational activity which support the delivery of the charitable aims. They are allocated on the basis of full-time equivalent staff working on each activity.

7 FIXED ASSETS (FOR THE CHARITY'S OWN USE)

	Freehold		Fixtures &		Office
	Property	Property	Fittings	Fittings	Equipment	Equipment	Total
	£		£	£	£	£	£
COST
At 31 March 2024	110,846	110,846	47,861	47,861	2,407	2,407	161,114
Additions	-	-	1,440	440	-	-	1,440
At 31 March 2025	110,846		49,301	1	2,407	7	162,554
DEPRECIATION
At 31 March 2024	24,400		33,860		2,407	2,407	60,667
Charge forperiod	2,217	217	2,693		-	-	4,910
At 31 March 2025	26,617		36,553		2,407		65,577
NET BOOK VALUE
At 31 March 2025	84,229		12,748		-	-	96,977
At 31 March 2024	88,446		14,001		-	-	100,447

The Trustees estimate the market value of the freehold property to be £515,000. (2024: £515,000).

RICHMOND BOROUGH MIND NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

RICHMOND BOROUGH MIND NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
8 DEBTORS
	2025
	£
Grant and contract debtors	277,895
Prepayments	19,055
Other debtors	13,267
	310,217

9 CREDITORS – amounts falling due within one year
	2025 £
Deferred income	82,643
PAYE/NIC	38,638
Accruals	28,299
Other creditors	18,745	32,437
	168,325	190,921

	22	224
Deferred income	05
	£
Balance at the beginning of the year	98,691
Amount released to income in the year	(24,673)
Amount deferred in the year	8,625
Balance at the end of the year	82,643

10 CREDITORS – amounts falling due after more than one year
	2025
	£	£

Other Creditors	22,939	21,055

This is a dilapidation provision for refurbishment costs falling due in Sept 2026 for office premises.

STAFF COSTS	2025 £	2025 £


Salaries and wages	1,372,998	1,368,591
Pension	53,431	47,243
Social Security costs	125,035	120,038
	1,551,464	1,535,872

There were 53 full and part-time employees during the year (2024: 56).

One employee received emoluments between £60,000 to £69,999.

The total employee benefits including pension contributions of the key management personnel were £78,653 (2024: £75,214).

RICHMOND BOROUGH MIND NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 12 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Funds balances at 31 March 2025 are represented by

Unrestricted Restricted Funds Funds £ £ Fixed assets 96,977 - Current assets 601,501 100,487 Current liabilities (168,325) - Long term liabilities (22,939) - Total Net Assets 507,214 100,487 Funds balances at 31 March 2024 were represented by Unrestricted Restricted Funds Funds £ £ Fixed assets 100,447 - Current assets 707,209 89,753 Current liabilities (190,921) - Long term liabilities (21,055) - Total Net Assets 595,680 89,753	Total funds 2025 £ 96,977 701,988 (168,325) (22,939) 607,701 Total funds 2024 £ 100,447 796,962 (190,921) (21,055) 685,433	Total funds 2024 £ 100,447 796,962 (190,921) (21,055)
		685,433
		Total funds 2023 £ 105,285 899,054 (314,372) (20,675)
		669,292

13 FUNDS ANALYSIS 2025

	Balance at 01/04/2024	Income	Expenditure	Transfers	Balance at 31/03/2025
	£	£	£	£	£
Unrestricted Funds	595,680	925,839	(934,843)	(79,462)	507,214

Restricted Funds
Carers	35,742	121,432	(117,358)	-	39,816
Handbook	12,572	-	-	-	12,572
Psychotherapy & Counselling	-	30,958	(75,100)	44,142	-
Peer Support -SWLStG	-	304,000	(326,256)	22,256	-
Peer Support - PGN	11,476	42,328	(25,623)		28,181
Wellbeing Centre	20,701	126,171	(130,852)	-	16,020
Assertive Outreach	4,958	3,750	(20,226)	11,518	-
Volunteering	-	27,000	(25,055)		1,945
Journey Recovery hub	-	256,447	(257,993)	1,546	-
Hampton road project	828	-	-	-	828
Digital inclusion	3,476	38,422	(40,773)	-	1,125
	89,753	950,508	(1,019,236)	79,462	100,487

TOTAL FUNDS	685,433	1,876,347	(1,954,079)	-	607,701

RICHMOND BOROUGH MIND NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

13 - Continued

FUNDS ANALYSIS 2024

	Balance at 01/04/2023	Income	Expenditure	Transfers	Balance at 31/03/2024
	£	£	£	£	£
Unrestricted Funds	610,603	867,356	(866,624)	(15,655)	595,680


Restricted Funds
Carers	10,371	130,915	(105,544)	-	35,742
Handbook	12,572	-	-	-	12,572
Psychotherapy & Counselling	-	59,336	(62,566)	3,230	-
Peer Support PGN	9,399	55,112	(53,035)	-	11,476
Peer Support SWLStG		277,600	(278,579)	979	-
Wellbeing Centre	11,021	122,379	(112,699)	-	20,701
Volunteering	-	13,000	(18,532)	5,532	-
Youth	14,498	65,510	(81,647)	1,639	-
Journey recovery hub	-	254,917	(259,660)	4,743	-
- Hampton road project	828	-	-	-	828
Digital inclusion	-	44,283	(40,807)	-	3,476
Assertive Outreach	-	59,374	(54,416)	-	4,958
SMI Healthchecks		22,739	(22,271)	(468)	-
	58,689	1,105,165	(1,089,756)	15,655	89,753

TOTAL FUNDS	669,292	1,972,521	(1,956,380)	-	685,433

Restricted Funds:

Carers

Carers in Mind supports families and friends supporting someone with a mental health problem. The reserves carried forward are to be spent on activities, the rewriting and publishing of the Carers Handbook and the recruitment of a new Carers Manager.

Peer Group Network

Restricted reserves to be spent on training peer volunteers and community venue hire.

Wellbeing Centre, including Positive Living Group

The Wellbeing Centre is a referral only project for adults under the care of the Community Mental Health Team. The reserves carried forward are to be spent on the Wellbeing Centre. £16,020.

Hampton Road Project

The refurbishment, extension, and fit out of our premises at Hampton Road took place in 2018. Funding for the project came from Hampton Fund £25,000, Richmond Parish Lands Charity £25,000, Lloyds Bank Foundation (Enable) £10,369, and unrestricted reserves. The expenditure has been capitalised and is shown in fixed assets. Reserves of £828 remain for the fit out, from Richmond Parish Lands Charity reserves transferred to spend for this project.

Assertive Outreach

£4,958 was utilised in 2024/2025 supporting the continuing programme of outreach care in the community, whilst new ongoing funding is sought.

RICHMOND BOROUGH MIND NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

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

Net income / (expenditure) for the reporting period (as per the statement of financial activities) Depreciation Interest, rent and dividends from investments (Increase) / decrease in debtors Increase / (decrease) in creditors Net cash provided by / (used in) operating activities	2025 £ (77,732) 4,910 (11,017) (106,545) (20,712) (211,096)	2024 £ 16,141 4,838 (10,111) (39,185) (123,070)
		(151,387)

15 ANALYSIS OF CASH AND CASH EQUIVALENTS

Cash at bank and in hand Total cash and cash equivalents	At 1 April 2024 £ 593,290 593,290	Cash flows £ (201,519) (201,519)	Other changes £ - -	At 31 March 2025 £ 391,771
				391,771

16 OPERATING LEASE COMMITMENTS

Total future minimum lease payments under non-cancellable operating leases are as follows:

Less than 1 year	Less than 1 year			2025 £ 33,600		2024 £ 33,600

				33,600		33,600

17 TRUSTEES

No Trustee or connected persons received any remuneration. The Charity held Trustee Indemnity Insurance. The charity subscribes to the Mind block policy.

18 RELATED PARTY TRANSACTIONS

There are no related party transactions to disclose for 2025 (2024: none).