**Charity Number 1166079**
## **REFRESHING MINDS**
## **FINANCIAL STATEMENTS**
**30 MARCH 2021**
**REFRESHING MINDS**
## **FINANCIAL STATEMENTS**
## **YEAR ENDED 30 MARCH 2021**
|**CONTENTS**|**PAGE**|
|---|---|
|Trustees and professional advisers|**1**|
|Trustees Annual Report|**2-5**|
|Statement of Trustees responsibilities|**6**|
|Independent examiner's report to the trustees|**7**|
|Statement of financial activities|**8**|
|Balance sheet|**9**|
|Notes to the financial statements|**10-12**|
## **REFRESHING MINDS**
## **TRUSTEES AND PROFESSIONAL ADVISERS**
|**Registered charity name**|Refreshing Minds|
|---|---|
|**Charity number**|1166079|
|**Principal office**|66 Durlston Road|
||London E5 8RR|
|**Trustees**|H Krausz|
||J Wider|
||T Grunbaum|
||Z Perl - resigned on 19thFebruary 2021|
||K M Rapaport – appointed on 15th February 2021.|
|**Independent examiner**|Balazs Nezmi ACCA|
||Js&Co Accountants Ltd|
||26 Theydon Road|
||London|
||E5 9NA|
|**Bankers**|NATWEST|
||198 Stoke Newington High St|
||London|
||N16 7GA|
**- 1 -**
**REFRESHING MINDS**
## **TRUSTEES ANNUAL REPORT**
## **YEAR ENDED 30 MARCH 2021**
The trustees have pleasure in presenting their report and the unaudited financial statements of the charity for the year ended 30 March 2021.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
Reference and administrative details are shown in the schedule of trustees and professional advisors on page 1 of the financial statements.
## **THE TRUSTEES**
The trustees who served the company during the period were as follows:
H Krausz J Wider T Grunbaum Z Perl - resigned on 19[th] February 2021
K M Rapaport – appointed on 15th February 2021.
There is no chief executive officer nor any other staff employed in the charity. The day to day affairs are undertaken by Mrs M Landau on behalf of the trustees. All major decisions are taken collectively by the trustees.
The trustees are volunteers and details of any related party transactions are disclosed as applicable in the notes to the accounts.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
Refreshing Minds is constituted under a deed dated 19 August 2014 as amended on 22 Feb 2016.. It is a registered charity number 1166079 and was registered on 15 March 2016.
Recruitment and appointment of new trustees would be in line with the Trust Deed and with the consent of the trustees. The criteria set for the suitable candidate would be someone who is sensitive to the needs and demands of the organisation.
## **Risk review**
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the Trust, and are satisfied that systems are in place to manage our exposure to the major risks.
## **OBJECTIVES AND ACTIVITIES**
The main **objectives and activities** of Refreshing Minds is:
- a) To provide an avenue for young girls from both mainstream and disadvantaged backgrounds, to improve their lives through increasing their social, mental and physical welfare.
- b) To provide a culturally safe environment for children to play and enjoy in.
- c) To build upon the skills of the young, allowing for them to have greater, more lucrative opportunities for high achieving professional career roles.
- d) To provide vocational skills as an outlet for negative and pent up emotions allowing for a safer and more contented community.
**- 2 -**
**REFRESHING MINDS**
**TRUSTEES ANNUAL REPORT**
## **YEAR ENDED 30 MARCH 2021**
## . **Public benefit**
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit .
## **ACHIEVEMENTS AND PERFORMANCE**
Refreshing Minds was established by parents as a platform for girls to have wholesome outlets. Since then we have become renowned for providing children with the opportunity to advance talents and develop positive wellbeing and confidence. This year over 600 beneficiaries benefited from the programme and newly discovered talents were revealed.
Our aim is for every girl to have the chance to shine, regardless of personal or family circumstances or achievement in the classroom. We have seen outstanding success and feedback has shown children have greatly improved in self-esteem and confidence, and this has helped them flourish in the classroom and socially as well.
Refreshing Minds offers a great variety of programs spread across the entirety of the year. Our usual activities include
- Annual public performance of children’s talent
- Expressive Arts classes
- Winter/Summer Holiday play-schemes
- Outings and Weekends to encourage teamwork and social cohesion
- Individual Therapy and Support groups to support the School Curriculum
- Weekly Weekend programmes
- After School Club
The childcare after-school club is a new development, providing academic support to 600 children daily. Once homework is on schedule, incentives are provided, such as light entertainment, all within a safe and supervised environment.
The bulk of the budget for this fiscal year is funded by childcare contributions made by parents, which is reflected in the significant increase in turnover between 2019 and 2020.
Working within the communities of Hackney and Haringey which alone have 20,000 young children under the age of 16, we are aware that the numbers we have helped to date are by far too small. Refreshing Minds seeks to increase the quantity of beneficiaries in the coming year to 800 girls, enabling a greater amount of children to tap into satisfaction and greater future prospects. This would mean continuing to expand our programs, offering more after-school activities and training to additional staff to truly support our girls and promote emotional well-being and individual support.
The trustees have agreed that the expenditure is in line with the aims and objectives of the establishment.
**- 3 -**
**REFRESHING MINDS**
**TRUSTEES ANNUAL REPORT**
## **YEAR ENDED 30 MARCH 2021**
## **RESPONSE TO COVID19**
The period of school lockdowns were intensely challenging. Cognizant of the technological deprivation amongst most of our users Refreshing Minds swung into action immediately. The following were undertaken:
## **Telebuddy Program**
In March 2020, we initiated the Covid Tele-buddy phone line which enabled us to continue extra-curricular support, teleconferences, and entertaining content, manned and updated by devoted volunteers and group leads. Reaching 750 children and young people daily, this was a lifesaver for overwhelmed families stuck in cramped houses.
## **‘Covid Kraft Kitz’**
Between March and August 2020, over 1800 **‘Covid Kraft Kitz’** were dispatched, sending 1800 remote strokes of love and care and reminding 600 bewildered kids that they hadn’t been forgotten.
## **Covid Support Groups**
As soon as schools started, we anticipated the anxiety and readjustment kids would be going through, and introduced our Covid support groups. These provided an opportunity for kids to talk about their fears, and learn stress management skills.
## **Therapy Provision**
Refreshing Minds provided art, play and talking therapies for 30 young members experiencing adverse life challenges, to promote their emotional wellbeing.
## **‘Bright From the Start’ Playscheme**
Summer 2020 saw the gradual release of some restrictions. In this response to Covid, the fairground was literally brought to the playground, 480 children enjoyed attractions such as petting zoo, horse riding, parrot show, bubble rides, inflatable boats, balloon modelling, arts’n’crafts and theme park rides, consolidating two weeks of magical activity. 120 teens were also treated to comprehensive programs full of fun, socialising and action geared to their age and skills.
## **‘Speak-Up’ Buddy Programme**
September 2020 saw schools and social groups reopen and we once again launched our weekend extra-curricular programmes, revamped to include social distancing guidelines and cleaning protocols. Over 550 participants were thrilled to meet their friends once again.
## **‘Make Waves’ Volunteer Support.**
Our _Make Waves_ beachside excursion, held at Westcliff-on-sea, transported our volunteers to a world of energy and verve, supporting their charges to grow and succeed. An unforgettable program included individually wrapped lunch and gift presentations. Investing in our volunteers is a foremost feature of our programs, conveying appreciation and care to those who give of their time and energy to support our members.
## **Winter Holidays Activities**
Our winter holidays fun-day provided separate programs to accommodate members in enriching activities. Coming just prior to the second lockdown, this boosted the social networking and mental wellbeing of members and no-doubt provided an injection of support towards the difficult months ahead. The programme included an innovative ‘Napkin sculpting’ course, with individually wrapped kits to prevent transmission, jumping castles and exercise activities.
**- 4 -**
**REFRESHING MINDS**
## **TRUSTEES ANNUAL REPORT**
## **YEAR ENDED 30 MARCH 2021**
## **In The Limelight Performance**
Due to Covid restrictions, our ‘In the Limelight’ Pantomime Performance was postponed. (Our Bounce Back Performance program made up for this in July, following the release of restrictions.)
**We are grateful to all our funders who have enabled the success of these programs for disadvantaged youngsters including: LCR (London Community Response), National Lottery Awards for All, Casey Trust, Anthony Bourne, HDH Wills, Tesco Bags of Help, Charles S French Charitable Trust, Percy Bilton, the Donald Forrester Trust, among others.**
## _**FINANCIAL REVIEW**_
The trustees feel that the activity and surplus reflects the increased activity and expansion of our work. The impact for future years' expenditure is self-evident and the trustees would like to record their appreciation for all the financial support received from benefactors during the course of the year.
## **FUTURE PLANS**
As the ongoing crisis unfolds, our Trustees continue to focus our efforts on adapting our programs to meet evolving restrictions and meeting our beneficiaries changing needs. Plans are in place to consult with beneficiaries to ensure that they can be best supported throughout this crisis.
As the effects of volatile GCSE results, social deprivation, and uncertainty become more apparent, we are exploring ways to provide subsidised therapeutic support, support groups, and recreational getaways to combat the anxiety, tension and adverse mental health experienced by children.
A second volunteer getaway is planned for the summer and we are continually monitoring restrictions to assess what format this will take.
(At the time of writing, we have successfully completed the evaluation of a ground-breaking summer camp, ‘The Great BriTeen’s Summer!’ Supported by a funding consortium of the Hackney Learning Trust, together with Food Lifeline this camp provided nutritious healthy meals, extreme sport and social stimulation to 138 children and young people.)
## **Reserves policy**
The Unrestricted Fund represents the unrestricted funds arising from past operating results The Trustees are satisfied that the balance of the Fund is an acceptable level of reserves given the nature of revenue receipts against the expenses payable.
Signed on behalf of the trustees
## **Trustee**
66 Durlston Road London E5 8RR
9th November 2021
**- 5 -**
**REFRESHING MINDS**
## **STATEMENT OF TRUSTEES RESPONSIBILITIES**
## **YEAR ENDED 30 MARCH 2021**
The charity's trustees are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008. The trustees 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.
**- 6 -**
**REFRESHING MINDS**
## **INDEPENDENT EXAMINERS REPORT**
## **YEAR ENDED 30 MARCH 2021**
I report on the accounts of the charity for the year ended 30 March 2021 set out on pages 7 to 10.
## **Respective Responsibilities of Trustees and Independent Examiner**
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (“the Act”) and that an independent examination is needed.
It is my responsibility to:
- examine the accounts under section 145 of the Act;
- to follow the procedures laid down in the general directions given by the Charity Commission (under Section 145(5)(b) of the Charities Act); and
- state whether particular matters have come to my attention.
## **Basis of Independent Examiner’s Statement**
My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
## **Independent Examiner’s Statement**
In connection with my examination, no matter has come to my attention:
- a) which gives me reasonable cause to believe that, in any material respect, the requirements:
- to keep accounting records in accordance with Section 130 of the Charities Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or
b) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Balazs Nezmi ACCA Js&Co Accountant Ltd 26 Theydon Road London E5 9NA
9[th] November 2021
**- 7 -**
**REFRESHING MINDS** STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 MARCH 2021
-
|Notes
INCOMING RESOURCES
Incoming resources from generate
3
Parental contribution
Donations and Grants
Total Incoming resources
RESOURCES EXPENDED
Fundraising Costs
4
Direct charitable activities
5
Other
6
Total resources expended
NET INCOMING/(OUTGOING)
RESOURCES
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD|Unrestricted
£
Restricted
£
2021
Total Funds
£
165,540
165,540
52,502
33,780
86,282
218,042
33,780
251,822
10,248
10,248
185,143
34,555
219,698
8,246
1,500
9,746
203,637
36,055
239,692
14,405
-2,275
12,130
19,928
2,275
22,203
34,333
0
34,333|2020
Total Funds
£
131,183
37,132|
|---|---|---|
|||168,315
0
138,419
9,870|
|||148,289
20,026
2,177|
|||
22,203|
**- 8 -**
**REFRESHING MINDS** BALANCE SHEET FOR THE YEAR ENDED 30 MARCH 2021
|Notes
CURRENT ASSETS:
Debtors
Cash at bank and in hand
CREDITORS: amounts falling
due within one year
7
Net Current assets/(liabilities)
NET CURRENT ASSETS:
FUNDS
8
Restricted funds
Unrestricted funds
TOTAL FUNDS|£
1,107
40,595|2021
£
34,333
34,333
0
34,333
34,333|£
2,501
27,717|2020
£
22,203|
|---|---|---|---|---|
||41,702
-7,369||30,218
-8,015||
||||||
|||||22,203|
|||||2,275
19,928|
|||||22,203|
Approved by the board of Trustees on: 09 November 2021 And signed on their behalf by:
Trustee
**- 9 -**
**REFRESHING MINDS** NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 MARCH 2021
For
## 1 ACCOUNTING POLICIES
Accounting convention
These accounts have been prepared in accordance with the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (FRSSE) (effective January 2015). In preparing the accounts, the charity follows best practice as laid down in the Statement of Recommended Practice “Accounting and Reporting by Charities” (SORP) issued in March 2005. Where there is a conflict between the FRSSE and the SORP, the SORP has been adopted in accordance with paragraph 419ff of the SORP.
## Incoming resources
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
Expenditure is accounted for on accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
## 2 TRUSTEES REMUNERATION AND BENEFITS
No trustee received remuneration, allowance for or reimbursement of expenses.
3 INCOMING RESOURCES FROM GENERATED FUNDS
|Parental contribution
Donations and Grants|Unrestricted
Restricted
Total
Funds
Total
Funds
Funds
£
Funds
£
2021
£
2020
£
165,540
0
165,540
131,183
52,502
33,780
86,282
37,132|
|---|---|
||
218,042
33,780
251,822
168,315|
Restricted funds received from:
||£|
|---|---|
|Santa Barbara Heights CT|£300.00|
|Tesco Bags of Help|£500.00|
|HDH Wills 1965 Charitable Trust|£500.00|
|Percy Bilton Charity|£500.00|
|Casey Trust|£1,000.00|
|Anthony Bourne Foundation|£3,000.00|
|Charles S French Charitable Trust|£3,000.00|
|Forrester Family Trust|£5,000.00|
|Awards for All- National Lottery Fund|£9,980.00|
|London Community Response Fund|£10,000.00|
- **10 -**
**REFRESHING MINDS**
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 MARCH 2021
## 4 **FUNDRAISING COSTS**
|**FUNDRAISING COSTS**|||||
|---|---|---|---|---|
||||**Total**|**Total**|
||**Unrestricted**|**Restricted**|**Funds**|**Funds**|
||**Funds**|**Funds**|**2021**|**2020**|
||**£**|**£**|**£**|£|
|Fundraising Costs|10,248|0|10,248|0|
||10,248|0|10,248|0|
|**COSTS OF DIRECT CHARITABLE**|**ACTIVITIES**||||
||||**Total**|**Total**|
||**Unrestricted**|**Restricted**|**Funds**|**Funds**|
||**Funds**|**Funds**|**2021**|**2020**|
||**£**|**£**|£|£|
|Afterschool and weekend activities|170,143|2,275|172,418|138,419|
|Covid Support|4,450|18,480|22,930|0|
|Volunteers Momentum|4,550|5,300|9,850|0|
|Equipment for Programs|6,000|8,500|14,500|0|
||185,143|34,555|219,698|138,419|
5 **COSTS OF DIRECT CHARITABLE ACTIVITIES**
**-11-**
## **REFRESHING MINDS**
## NOTES TO THE FINANCIAL STATEMENTS
## FOR THE YEAR ENDED 30 MARCH 2021
|**Unrestricted**
**Restricted**
**Funds**
**Funds**
5
**OTHER**
Bank charges
Accountancy fee
756
Professional fees
936
Postage
1,944
Office supplies
Telephone
274
Cleaning
1,500
Repairs
4,336
Construction work for therapy room
8,246
1,500
6
**CREDITORS: AMOUNTS FALLING**
**DUE WITHIN ONE YEAR**
Other Creditors
Accruals
7
**MOVEMENTS IN FUNDS**
**At 31.3.20**
**Restricted funds**
£
General fund
2,275
**Unrestricted funds**
General fund
19,928
**TOTAL FUNDS**
22,203
Net movement in funds, included in the above are as follows:
**Incoming**
**resources**
**£**
**Restricted funds**
General fund
**Unrestricted funds**
General fund
33,780
218,042
**TOTAL FUNDS**
251,822||**Unrestricted**
**Funds**
756
936
1,944
274
4,336|**Restricted**
**Funds**
1,500|**Total Funds**
**2021**
0
756
936
1,944
0
274
1,500
4,336
0|**Total Funds**
**2020**
32
540
180
0
2,195
0
1,950
1,509
3,464
9,870
**2020**
£
7475
540
8,015|
|---|---|---|---|---|---|
|||
8,246|1,500|9,746||
|||||||
||||**At 31.3.20**
£
2,275
19,928|**2021**
£
6,613
756
7,369
**Net movement**
**in funds**
£
-2,275
14,405
12,130
**Resources**
**expended**
**£**
36,055
203,637
239,692||
||||||**At 30.03.21**
£
0
34,333
34,333|
||||22,203|||
||||||**Movement in**
**funds**
**£**
-2,275
14,405
12,130|
||||251,822|||
## 13 **TAXATION**
Refreshing Minds is a registered charity and therefore is not liable to income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.
**-12-**