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← Mid & North Powys Mind

2024-03-31-accounts

Mid and North Powys Mind

Financial Statements

For the Period ended 31st March 2024

Registered Charity No. 1167840 Company No. 10158044

Mid and North Powys Mind

Financial Statements

For the Period ended 31st March 2024

CONTENTS

Report of the Directors 3-5
Independent Examiners Report 6
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Accounts 9-16

2

Mid and North Powys Mind

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity Number 1167840 Registered Company Number 10158044

Registered Office

Crescent Chambers South Crescent Llandrindod Wells Powys LD1 5DH

Trustees

Catherine Nunn Melissa Townsend Jeremy Andrews Noreen O’Connor

Caroline Wilson

Structure, Governance and Management

Mid and North Powys Mind is a registered charity and a company Limited by guarantee, governed by a Memorandum of Association dated 13[th] July 2023.

Director recruitment and appointment

Directors are responsible for the control and management of the Organisation.

The Organisation seeks to ensure that the Board of Directors includes an appropriate range of skills and is also representative of different sections of the community. It also seeks to recruit and retain Directors who reflect and have knowledge of the issues surrounding mental health and the communities and area in which the Organisation operates,

The Associations Articles state:

Process

All New Directors will be appointed through a process of application, short listing and interview by a small panel, followed by recommendation to the Board of Directors. All Directors are subject to satisfactory references. Occasionally existing Directors or staff members may put forward names of people about whom they have knowledge and think may be interested and suitable to be approached by representatives of the Board of Directors.

All Directors are expected to give their time and energy freely to the Organisation.

3

All potential Directors should be aware that the law disqualifies some individuals from acting as a charity Director.

Mission

Improving mental wellbeing for people in Mid & North Powys

Vision

Mid & North Powys Mind will continue to be known as a place to go for information and support for those with mental health needs, their families and friends. We will promote mental wellbeing in the wider community. We will respond to local, individual and community needs regarding these issues with up to date proven methods, working closely with other voluntary and statutory organisations. We value individuality and work to raise awareness.

Achievements and Performance

Financial Review

Incoming resources in the period were £683,128 of this £572,629 related to project restricted activities.

Our funding for the year has been received from the following sources – Powys teaching Health Board, Powys County Council, Big Lottery, Lloyds Foundation, National Mind, Henry Smith, Moondance Foundation, PCC Housing Support Grant, WCVA, PAVO, Welsh Government, Postcode Community Lottery, Garfield Weston, Shared Prosperity Fund, Community Ownership Fund, National Grid and ACIS. Along with donations from various individuals.

During the year Mid and North Powys Mind has been able to offer a vast range of activities and opportunities to all our members and the wider community. All service developments are undertaken after financial risk management to ensure the Organisation maintains its level of reserves.

4

The Directors have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.

Reserves Policy

It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level which equates to approximately six months unrestricted expenditure (closure costs). Due to uncertainties over consistent future funding for Mid and North Powys Mind, together with annual shortfalls of specific funding for projects, additional sums have been retained to enable projects to continue to operate. This provides sufficient funds to cover management, administration and support costs.

Responsibility of Directors

Law applicable to charities in England and Wales requires the Directors to prepare accounts for each financial year which give a true and fair view of the charity’s financial activities during the year and of its financial position at the end of the year. In preparing those accounts, the trustees are required to:

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 accounts comply with the Charities Act 1993. 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.

Approved by the Directors and signed on their behalf by:

Chairperson:

Date: 17[th] July 2024

5

Independent Examiners Report to the Directors of Mid and North Powys Mind

I report on the accounts of Mid and North Powys Mind for the period ended 31st March 2024 which are set out on pages 9 to 16.

Respective responsibilities of Directors and examiner.

The Directors of Mid and North Powys Mind are responsible for the preparation of the accounts. The Directors consider that an audit is not required for this year under section 144 of The Charities Act 2011 (“the Charities Act) and that an independent examination is needed. The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a member of MAAT.

It is my responsibility to:

Basis of Independent Examiners Report

My examination was carried out in accordance with the general Directions given by the Charity Commissioners.

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 seeks explanations from you as directors 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 on the statement below.

Independent Examiners Statement

In connection with my examination, no material matters has come to my attention which gives me cause to believe that in, any material respect:

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

Mid Wales Accountants Ltd 17[th] July 2024

6

Mid and North Powys Mind Statement of financial activities for the period to 31/03/24 Incorporating the Income and Expenditure Account

Note
Incoming Resources from
Grants Receivable
2a
Donation and Gifts
2b
Interest Receivable
2c
Fund Raising
Total income and endowments
Resources Expended
Charitable Expenditure
3
3
Total Expenditure
3
Net income/(expenditure)
4
Transfers between funds
Net movement in funds
Brought forward 1st April 2023
10
Carried forward 31st March 2024
10		 Un-
Un-Restricted
Restricted
funds funds
£
£
82,585
572,629
16,259
3,620
8,035
110,499
572,629
18,315
682,157
18,315
682,157
92,184
(109,528)
(137,805)
137,805
(45,621)
28,277
340,709
86,199
295,088
114,475		 Total funds
Mar 2024
£
655,214
16,259
3,620
8,035
683,128
700,472
700,472
(17,345)
-
(17,345)
426,908
409,563		 Total Funds
Mar-23
563,091
9,369
839
6,985
580,284
617,993
617,993
(37,709)
(37,709)
464,617
426,908

There are no recognised gains or losses in the year, other than those included in the statement of financial activities.

All activities derive from continuing operations.

7

Mid and North Powys Mind

Balance Sheet as at 31st March 2024

Un-Restricted Restricted Total Total
Note Funds Funds Mar-24 Mar-23
£
Fixed Assets
Tangible Fixed Assets 6 375 - 375 643
Current Assets
Prepayments 7 1,167 1,167 1,167
Bank 310,330 114,475 424,805 427,048
Cash in Hand 588 588 394
312,085 114,475 426,560 428,609
Creditors - amounts falling due
within one year 8 17,371 - 17,371 2,345
Net Current Assets 294,714 114,475 409,189 426,265
Net assets 295,089 114,475 409,563 426,908
Represented by:
Funds of the Charity
Un-Restricted Funds 90,959 90,959 136,580
Designated Funds 204,129 204,129 204,129
Restricted Funds 114,475 114,475 86,199
295,088 114,475 409,563 426,908

The financial statements were approved by the Board on 17[th] July 2024 and signed on their behalf by:-

Chairperson

8

Mid and North Powys Mind

Notes to the financial statements for the period to 31st March 2024

1. Accounting policies

a) Accounting basis

The financial statements have been prepared under the historical cost convention and are in accordance with the Companies Act 2006, applicable accounting standards and the Statement of Recommended Practice “Accounting and Reporting by Charities” (Charities SORP (FRS 102)) effective 1 January 2015. The adoption of the revised SORP has resulted in reclassification of some items and the comparatives have been amended accordingly without any effect on net incoming resources.

b) Incoming resources

i) Grants receivable

Grants made to finance the activities of the charity are credited to the income and expenditure account in the period to which they relate.

ii) Bank interest

Bank interest is included in the income and expenditure account on receipt.

iii) Other income

Sales of services are included in the income and expenditure account in the period to which they relate. Other income, including donations, gifts and covenants are included as they were received.

iv) Gifts and Intangible income

In addition to the above, the charity also receives help and support in the form of voluntary assistance in advising the public. This help and support is not included in the financial statements. However, its value to the Charity has been estimated and disclosed in the Directors’ report.

v) Deferred income

Grants received in advance of the period in which the funder requires the expenditure to be applied will be reflected in deferred income within the balance sheet.

9

Mid and North Powys Mind

Notes to the financial statements for the period to 31st March 2024

1. Accounting policies (continued)

c) Resources expended

All expenditure is accounted for on an accrual’s basis. All expenditure directly related to the provision of advice services is included within charitable expenditure. Other costs incurred have been allocated between fundraising and publicity and management and administration as appropriate. Where such costs relate to more than one functional cost category they have been split on an estimate of time or floor space basis, as appropriate.

d) Fixed assets and depreciation

Fixed assets are included at cost.

Depreciation is charged on the following basis on the costs of the assets over their estimated useful lives as follows: -

Value occupation equipment - 25% written down
Resource centre improvements - 25% written down
Resource centre equipment - 25% written down
General equipment - 25% written down

The depreciation policy has been reviewed in accordance with the Statement of Recommended Practice “Accounting and Reporting by Charities” (Charities SORP (FRS 102)) effective 1 January 2015 and no change has been made from the previous year.

e) Restricted funds

Income received for the restricted purposes is included in a separate restricted fund against which appropriate expenditure is allocated.

.

10

Mid and North Powys Mind

Notes to the financial statements for the period to 31st Mar 2024

2
a
Local Health Board
Powys County Council - Core costs
Moondance
Garfield Weston
WG Bereavement
WG IWSS
Henry Smith
Blended CBT
Housing Support Grant North
Housing Support Grant South
Mind Cost of Living
Lottery
MSCT
Lloyds Bank
SPF
Active Monitoring
Mental Elf
Community Matters
COF Subsidy
Town council Pride
MM Peer Support
Counselling
Pride & LGBTQ Donation
Mind Time to Talk
LGMF Mind Youth
PAVO CRF
PCC Youth
Connected Communities
ASCIS
Postcode Lottery
Total Income
b
Donations & Gifts
Self Generated
c
Income from investments		 Unrestricted
£
69,678
8,981
3,926
82,585
16,259
8,035
3,620		 Restricted
£
77,126
25,000
63,572
124,145
59,900
35,400
53,000
23,220
12,718
-
49,658
3,415
10,000
3,133
6,278
12,314
2,500
11,250
572,629
-		 Mar 2024 Total
£
69,678
8,981
77,126
25,000
63,572
124,145
59,900
35,400
53,000
23,220
-
12,718
-
-
49,658
3,926
3,415
10,000
-
3,133
6,278
-
12,314
-
-
2,500
11,250
-
-
655,213
16,259
8,035
3,620		 Mar 2023
Total
£
66574
8981
63440
59200
35781
37500
20892
17792
50393
2430
27250
51876
1600
1369
4125
1000
53996
3282
20000
5000
11750
18860
563,091
9,369
6,985
839

11

Mid and North Powys Mind

Notes to the financial statements for the period to 31st March 2024

3 Total expenditure on

Staff Salaries
Activites
Rent and Venue hire
Utilities
Office costs
Insurance
Telephone
Staff Travel & Expenses
Volenteer Expenses
Examination Fee
Legal and Consultancy
Staff and Training Provision
Sundries And Subscription
Depreciation
Total		 Direct
Charitable
activities
Projects
£
£
91,714
366,858
171,437
3,114
28,033
667
1,108
9,972
250
2,250
175
1,582
16,583
-
2,807
-
3,655
268
-
96,361
604,112		 Total Mar
2024
Total Mar
2023
£
458,572
400,267
171,437
104,504
31,147
22,812
667
2,647
11,080
13,068
2,500
2,790
1,757
3,989
16,583
27,177
-
18,985
2,807
4,425
-
530
3,655
13,749
268
326
-
2,724
700,472
617,993

12

Mid and North Powys Mind

Notes to the financial statements for the period to 31st March 2024

4 Net income/(expenditure)
This is stated after charging:
Depreciation
Amortisation
Auditors' remuneration
Audit services
Consultancy work		 Mar-24
£
268
924		 Mar-23
£
326
900
5 Information regarding Directors and Employees
Wages and salaries
Social Security costs
Pension costs
The average number of employees, analysed by function was:
Management and administration of charity
No employee received remuneration of more than £50,000.		 Mar-24
£
388,737
33,974
36,286
458,997
Mar-24
23		 Mar-23
£
337,371
28,193
34,703
400,267
Mar-23
23
23 23

13

Mid and North Powys Mind

Notes to the financial statements for the period to 31st March 2024

6 Fixed assets

**6 ** Fixed assets
Valued Resource
Resource
Occupation Centre
Centre		 General
Equipment Improvements Equipment Equipment Total
£ £ £
Cost
At 01/04/23 135 16 1,046 2,870 4,067
Additions 0
Disposals
At 31/03/24 135 16 1,046 2,870 4,067
Depreciation
At 1/4/23 135 16 911 2,362 3,424
Charge for the year 0 0 65 203 268
Disposals
At 31/03/24 135 16 976 2,565 3,692
NBV Mar 2024 0 0 70 305 375
NBV Mar 2023 0 0 135 508 643
**7 ** Debtors
31/3/24
£
Prepayments 1,167
1,167
**8 ** Creditors - amounts falling due within one year
31/3/24
£
PAYE 16,027
Pension -
Accruals 1,344
17,371

14

Mid and North Powys Mind

Notes to the financial statements for the period 31st March 2024

9 Analysis of net assets between funds

Tangible Fixed Assets
Current Assets
Current Liabilities
Net Assets
10 Movement in funds
Restricted Funds
Lottery
Moondance
Garfield Weston
Blended CBT
WG Bereavement
Mind Cost of Living
WG IWSS
Housing Support Grant North
Housing Support Grant South
SPF
lloyds
Youth Activities
Active Monitoring
Community Matters
COF Subsidy
MM Peer Support
Mindfulness
Counselling
Pride & LGBTQ Donation
Connected Communites
LGMF Mind Youth
ASCIS
Henry Smith
Postcode Lottery
Total Restricted Funds
Unrestricted Funds
Total unrestricted funds
Total funds		 General
Total
Funds
Funds
375
375
426,559
426,559
(17,371)
(17,371)
409,563
409,563
At 1 April
Incoming
Outgoing
Transfers
At 31 Mar
2023
Resources
Resources
2024
4,210
12,718
16,928
-
17,010
77,126
25,580
68,556
25,000
25,000
-
-
35,400
35,400
-
63,572
63,572
-
17,792
19,768
(1,976)
-
124,145
147,559
(23,414)
-
(13,148)
53,000
54,000
(14,148)
-
-
23,220
23,220
-
98,156
(98,156)
-
8,333
8,333
-
2,013
2,013
49,658
49,658
-
3,415
3,415
-
10,000
1,650
8,350
3,965
3,133
7,098
566
566
-
2280
6,278
8,558
1,416
1,416
-
2,500
2,500
5,000
-
(5,999)
12,314
6,315
-
6,709
11,250
19,486
(1,527)
-
19,693
59,900
59,693
19,900
18,860
18,860
-
-		 Total
Funds
375
426,559
(17,371)
409,563
86,200
572,629
682,159
(137,805)
114,475
90,959
204,129
295,088
90,959
204,129
79,776
-
295,088
177,159
776,758
761,935
(137,805)
409,563

15

Mid and North Powys Mind

Notes to the financial statements for the period 31st March 2024

Cont.
10 Movement in funds
Restricted Funds
Unrestricted Funds
Designated Funds
Total unrestricted funds
Total funds		 At 1 April
Incoming
Outgoing
Transfers
At 31 Mar
2022
Resources
Resources
2023
147,068
92,748
95,575
(821)
143,420
197,289
197,289
344,357
92,748
95,575
(821)
340,709
464,617
580,284
617,993
-
426,908

16