Mates in Mind – A company limited by guarantee
Trustees’ Report and Financial Statements For the year ended 31 December 2023
Company number: 10338868 Charity number: 1172460 Scottish charity number: SC047778
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Mates in Mind Contents
For the year ended 31 December 2023
| INDEX | PAGE |
|---|---|
| Trustees’ Report and Financial Statements | |
| Report of the Trustees | 3 – 10 |
| Independent Auditor’s Report | 11 – 13 |
| Statement of Financial Activities | 14 |
| Balance Sheet | 15 |
| Principal Accounting Policies | 16 – 18 |
| Notes to the Financial Statements | 19 – 24 |
| Reference and Administrative Details | 25 |
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Mates in Mind Report of the Trustees For the year ended 31 December 2023
Mates in Mind was established by the Health in Construction Leadership Group and the British Safety Council as a registered charity in August 2016, operating within the UK. The charity forms part of the British Safety Council group of entities for the purposes of preparing consolidated financial statements, however, the charity operates at arm’s length from the British Safety Council as a separately registered charity with its own board of trustees.
The Trustees’ Report is also a Directors’ Report, as required by chapter 5 part 15 of the Companies Act 2006, and all charity trustees are company directors. In accordance with the small company exemptions in the Companies Act 2006, the Trustees have limited their report and not produced a separate strategic report.
1. OUR COMMITMENT TO HEALTH, SAFETY AND WELLBEING
As a charity, we aim to ensure our team, associates and those people involved in our work activities are kept healthy and safe, and that we comply with all our legal obligations.
We review health, safety and wellbeing at each board meeting as well as in our regular team and line manager meetings. The team, additionally, participates in the British Safety Council group’s health, safety and welfare committee, which comprises both management and employee representatives to review health and safety policies, systems and management performance and adopt improvements where necessary.
All new staff are required to undertake induction training which includes detailed advice and guidance on health, safety and wellbeing. Following this, all staff are required to achieve as a minimum a level 1 qualification in health and safety, as well as basic awareness and understanding of mental health. We have both physical and mental health first aiders.
2. OBJECTIVES AND ACTIVITIES
2.1. Our charitable objects
The charity’s objects, as set out in its governing document, are:
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a) To advance the education and understanding of employers, other organisations and the general public in mental health issues;
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b) To promote and improve the mental health and well-being of persons; and
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c) To relieve, or assist in the relief of, persons suffering from mental illness or distress for the public benefit.
2.2. Our vision, aims and strategy
Our vision is that “there is no health without mental health”. In support of this vision, our principal aims are to:
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a) Raise awareness and understanding of mental health and mental ill-health;
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b) Help people to understand how, when and where to get support; and
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c) Break the silence and stigma through promoting cultures of positive wellbeing throughout the industry.
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Mates in Mind Report of the Trustees (continued) For the year ended 31 December 2023
2.2. Our vision, aims and strategy (continued)
As a charity, we have relied on donations and in-kind support from our key partners including, a significant amount of financial support from the British Safety Council. However, our aim building on 2023 and going into 2024 is to aim towards financial self-sufficiency. We aim to strengthen our primary purpose which centres around charitable activities working with organisations across the industry supported through a focus on growing our fundraising income. However, our goal is to ensure our overheads are kept to a minimum and we seek to grow our charitable outputs even further using available surplus and any restricted or unrestricted donations.
The charity trustees believe that Mates in Mind’s vision, aims and objectives fully reflect our charitable objectives.
2.3. Our activities
Our main activities, undertaken to further the charity’s purposes for the public benefit, are grouped under the following headings:
- Guidance and Support to support organisations in creating the right programme
Improving workplace mental health and wellbeing requires a cultural change in organisations from the executive team through line managers to those working at site level. Key to this is ensuring that the organisations we work with will have access to current and relevant information, guidance, advice and research. Dedicated Support Managers within the Mates in Mind team, work alongside our supporters throughout their subscription to ensure they have full access to this level of detail. Supporters can access a wide range of materials through our e-portal, via the newsletters and published articles. Throughout the year we also use webinars, seminars and networking events to share our guidance and advice to supporters and others across the industry. We also provide a more individualised approach where an additional bespoke focus is required through our Programme Support to analyse a broad spectrum of organisational data, understand the issues and work together to create and implement the solutions.
Awareness and Education - to educate and inform the workforce
Improving the understanding and knowledge of mental health and the impact that work related stress can have in the workplace is a vital part of creating a positive, proactive and preventative working environment where mental health challenges are openly supported and destigmatised. We offer a suite of educational and training options to provide practical knowledge and insight to develop and strengthen a holistic model. This is now available as blended learning, both online and can be delivered across the UK within companies through our training partners.
Our ongoing commitment to remain relevant and responsive to the needs of the industry includes commissioning research, demonstrated through the work undertaken to evaluate the needs of apprentices and SME businesses on the matter of mental health in construction. The findings of these research projects have further developed the work of Mates in Mind and have ensured that we remain authentic and current with the industry and those facing challenges so that we can better support them.
Communication - to visibly support the framework throughout a business
An effective mental health plan needs to be well communicated across a business. We have developed bespoke internal and external communications through press releases, web presence, social media, thought leadership articles and other communication campaigns. Our model offers support through a variety of communication materials – from stickers, posters, flyers, information cards, and bespoke products for our supporters. This is supported through our national events and campaigns calendar where we support key dates such as suicide prevention month, mental health awareness week and mental health awareness day with a range of media communication that is made available to supporters in advance to support any internal focus they might have planned.
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Mates in Mind Report of the Trustees (continued) For the year ended 31 December 2023
– Recognising good practice to improve the effectiveness & impact of our work and that of our partners
For the sixth year running, the Mates in Mind Impact Awards have celebrated those making meaningful change across workplaces. These industry awards recognise and celebrate the good work raising awareness of mental health in the workplace and implementing a culture of change within large organisations, SMEs and by individuals across the UK. An independent panel of leading industry experts adjudicates the awards.
The charity trustees have assessed and are satisfied that each of our activities are for public benefit. We are satisfied that we have complied with the duties placed upon us under section 17 of the Charities Act 2011 having due regard to the general guidance on public benefit published by the Charity Commission.
3. ACHIEVEMENTS AND PERFORMANCE
3.1 Financial performance
The charity trustees measure the financial performance of the charity against a budget set by them for the year. The charity trustees also measure monthly performance against other quantitative and qualitative performance metrics. These include the number of workers in the construction sector we reach through our programme of activity.
During the year the charity’s total income was £751,477 (2022: £508,360) and it recorded a net surplus of £59,722 (2022: £39,877 deficit).
3.2 Managing Mental Health and Wellbeing
Our work during 2023 centred around continuing to improve the education and awareness around mental health across construction, the supply chain and related industries, fortifying our belief that there is no health without mental health. We focused on the whole construction sector, ensuring that organisations regardless of size are aware of their responsibility both socially and legally in providing mental health support, awareness and training for their teams including line managers. Our previous B&CE funded research has generated a number of new resources that we are encouraging are made available across the supply chain to the self-employed and sole traders that do not have access to the support often offered by larger organisations. This has also involved Mates in Mind working closely with a number of trade and membership associations to ensure their members have access to high quality material via our new partnerships.
3.3 Building understanding and capability
Our website continues to be the main repository and e-portal for materials including downloadable resources and collateral, video and podcasts, a growing number of case studies, further reference links for advice and support and a range of other content. We have also throughout the year been proactive in engaging with Government ministers and specifically the Men & Boys All Party Parliamentary Group to raise awareness of the issues, hosted a visit by HRH The Prince of Wales on World Mental Health Day and gave evidence as a witness at the Health & Social Care Select Committee focused on Men’s Mental Health & Suicide Prevention. Our work has also focused on creating meaningful industry change through collaboration whether with the Tier 1 Industry Partners including CLC and wider industry colleagues or with procurement frameworks to raise mental health to a level of mandatory significance as safety when awarding work, to create a positive and proactive force for change. Our resulting engagement and interaction has seen a significant increase in activity via our website and social media.
Our work as a founding partner in the HSE Working Minds initiative has seen us feature in their promotional material to raise awareness of the importance of prevention to support any tertiary measures that that have been introduced.
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Mates in Mind Report of the Trustees (continued) For the year ended 31 December 2023
3.4 Promoting leadership and worker engagement
We continue to celebrate and champion our partnerships with key groups and organisations from across construction and related industries. This has enabled Mates in Mind to push the reach of our voice further. Our Patron, Michelle Wiles, the business champions and supporter organisations have helped us to continue shaping the conversation around mental health and the importance of prevention with early intervention to avoid the over-reliance on safety net support when someone has reached crisis. During the last year, we have continued to use social media platforms to address the challenge of mental illhealth with influential leadership audiences, raising awareness about the issue and our collaborative approach to tackling it. We have also presented at numerous national conferences and online webinars to raise awareness of the importance of a holistic model incorporating proactive, prevention and peer to peer support.
3.5 Supporting the hardest to reach
Our work with trade associations and member bodies has helped us to spread the word and support further throughout the industry. Smaller companies and self-employed tradespeople often do not have internal support such as HR or Health and Safety departments that would be a usual route to discuss workplace mental health. Coupled with the Office of National Statistics continuing to report that low skilled labourers in construction have a suicide risk that is four times higher than the average for England, it is clear that those further down the supply chain are likely to be at a higher risk.
3.6 Campaigning for sensible legislation, regulation and application
Campaigning is a useful way to raise the profile of mental health issues in the workplace. Whilst Mates in Mind does not undertake direct campaigning at the moment although it is an area we will explore further in 2024 in collaboration with industry partners, to raise awareness and a call to action to make changes based on the extensive research findings. We continue to work with others in the meantime such as HSE, H&S Tier 1 Leadership Group, CLC and HCLG to support their campaigns across the industry. We have featured in the National Suicide Prevention Strategy published by the Department of Health and as a direct response to our submission, we were invited to give evidence at a Health & Social Care Select Committee presenting to a panel of MPs about the charity and the importance of early proactive steps.
3.7 Apprentices and New Entrants
During 2023, we took the opportunity to update the apprentice and student course delivered in colleges throughout the UK via a Train-The-Tutor model to reflect the pressures felt in society and on a personal level by this target demographic post-pandemic. We are passionate that the current mental health issues faced by those working in the industry are tackled from numerous points. This includes students and new entrants that are transitioning from classroom to workplace as we want them to feel supported and aware of how to look after their mental health and spot the signs in others as the business owners and line managers of the future. The results in the pre & post course questionnaires have been outstanding and a pilot funded by CITB in NW England is currently being evaluated. We have also launched the plan to roll out the course across Scotland with our friends from the Scottish Building Federation to support their apprentices and college staff in 2024.
4. FINANCIAL REVIEW (including Strategic Report)
4.1 Performance of the charity
The principal funding sources of the charity in the reporting year were income from its primary purpose trading activities, as well as donations and grants from various bodies, including the British Safety Council.
The charity’s income for the year totalled £751,477 (2022: £508,360), which included £356,068 (2022: £227,273) from charitable activities and £395,409 (2022: £281,087) from donations. The charity’s income
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Mates in Mind Report of the Trustees (continued) For the year ended 31 December 2023
from charitable activities was generated principally from the sale of supporter subscriptions, business champion packages and from training provided to supporter and other organisations.
The charity’s expenditure in the year totalled £691,755 (2022: £548,237), including £337,960 (2022: £310,262) in staff costs.
The charity reported a net surplus in the year of £59,722 (2022: £39,877 deficit).
The summary of the financial results should be read in conjunction with the financial statements and related notes.
4.2 Position of the charity at the year-end
The charity had a surplus at 31 December 2023 in the amount of £55,852 (2022: £3,870 deficit).
The trustees received a signed letter from the British Safety Council committing to support Mates in Mind for at least 12 months from the date these financial statements are approved. Taking this into account and given our strategic plan, we believe the demand for the charity’s services will be sufficient to deliver our charitable and financial objectives going forward.
4.3 Reserves
The charity’s reserves are those unrestricted funds that are freely available to spend on any of the charity’s purposes. They therefore exclude tangible and intangible fixed assets held for the charity’s own use, which are treated as designated funds. In addition, restricted funds are held in relation to funds received for a particular purpose the use of which is restricted to terms stipulated by the donor.
The charity had negative free reserves at 31 December 2023 in the amount of £40,983 (2022: negative £148,661). The charity’s medium-term aim is to grow its primary purpose trading activities and to use any surpluses generated to build modest reserves to act as a buffer against economic turbulence.
4.4 Principal risks and uncertainties facing the charity
The principal risk facing the charity was that income from its primary purpose trading activities would not grow sufficiently to cover its operating costs. The objective of the charity in managing this liquidity risk is to ensure that it can meet its financial obligations as and when they fall due. The charity expects to meet its financial obligations through a combination of operating cash flows and financial support provided by the British Safety Council.
The other principal risks include customer credit exposure. The charity may offer credit terms to its customers which allow payment of the debt after delivery of the goods or services. The charity is at risk to the extent that a customer may be unable to pay the debt on the specified due date. This risk is mitigated by the strong on-going customer relationships.
4.5 Going concern
During the year, the charity continued to receive support from the British Safety Council. The trustees have obtained written confirmation from the British Safety Council of its intention to provide support to the charity to enable it to continue operating and to meet its liabilities, as and when they fall due, for a period of not less than 12 months from the date of this Trustees’ Report and financial statements. With support from British Safety Council, the trustees have no reason to believe that a material uncertainty exists that may cast significant doubt about the ability of the charity to continue as a going concern.
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Mates in Mind Report of the Trustees (continued) For the year ended 31 December 2023
5. FUTURE PLANS
5.1 Future plans
We continue to explore how we can adapt to reach those in need across the industry. Our focus on collaboration, research and ensuring our charitable objectives are achieved remain stronger than ever. Working closely with our network of Supporters and business champions, strengthened by our partnerships, we will continue to work with organisations to help them in their transformational journeys to creating positive approaches to mental health and wellbeing by providing them the skills, clarity, and confidence to embed sustainable and positive changes amongst their workforce.
Therefore, to achieve this, in 2024 the focus with an increase in the team headcount for the first time since the pandemic will be across three key areas:
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Further increasing and diversifying our significantly strengthened income streams in order to enhance our charitable work across the industry;
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Further developing our model offered to supporters and new entrants to ensure it remains current, needs-driven through industry feedback and research outcomes and evidence-based; and
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Working with our supporter organisations, business champions and their line managers to ensure that supply chains, new entrants and everyone working across the industry is aware of the impact that work-related stress can have and what proactive and preventative steps need to be taken before individuals reach crisis point. This will include providing free packs to SMEs to ensure they have access to resources and support to assist them on the journey.
Through a formal support services arrangement, we will continue to receive HR, financial, infrastructure and other administrative support from the British Safety Council, which also plays a key role in the governance arrangements of the charity.
6. STRUCTURE, GOVERNANCE AND MANAGEMENT
6.1. Governing document
The governance arrangements are set out in Mates in Mind’s articles of association adopted 9 December 2020.
6.2. Structure
The charity is a company limited by guarantee, not having a share capital, incorporated in England and Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the company. The company is registered as a charity in England and Wales and Scotland.
The sole member of the charity is the British Safety Council (a charitable company limited by guarantee). Mates in Mind therefore forms part of the British Safety Council group for the purposes of the preparation of consolidated financial statements.
6.3. Our Board and Management
Our board of charity trustees are also directors of the charitable company (the charity), as set out in the last page of this document. The charity’s constitution provides that the British Safety Council, as the sole member of the charity, is entitled to appoint up to two persons as trustees and that, where possible and practical, a further two trustees should have a construction industry background.
The charity trustees have delegated management of the charity to the Managing Director, who reports on performance against the strategic plans and budget approved by the charity trustees. The name of the Managing Director is set out on the last page of this document.
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Mates in Mind Report of the Trustees (continued) For the year ended 31 December 2023
The charity benefits from the British Safety Council’s system of governance and experience. The charity has entered into a management agreement with the British Safety Council, which provides for:
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the charity to adopt and apply accounting and employee policies and financial procedures that are consistent with the policies adopted by the British Safety Council;
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certain key matters to be determined by a special directors' resolution. Such resolutions require the approval of at least one of the trustees appointed by the British Safety Council; and
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the charity to provide to the British Safety Council quarterly income and expenditure statements, so that the British Safety Council can monitor the charity’s performance against its plans.
On appointment, charity trustees undergo an induction process to brief them on their legal obligations under charity and company law, the content of the articles of association and the decision-making processes, the strategic plan and recent key decisions by the board. Induction also includes a presentation, a meeting with key staff and the provision of charity documents and Charity Commission publications. All the charity trustees have experience at senior levels in other professional and voluntary capacities. Charity trustees are encouraged to attend further training.
6.4. Risk Management
The charity trustees are responsible for the charity’s risk management and the effectiveness of internal control systems. As part of the charity’s regular procedures the charity trustees and management examine and review the major risks to which the charity is exposed. The charity trustees are satisfied that those major risks as identified have been adequately managed, where necessary. It is recognised that systems can only provide reasonable, but not absolute, assurance that major risks have been adequately managed. To this end, the risk analysis schedules are presented annually to the board of trustees.
7. REFERENCE AND ADMINSTRATIVE DETAILS
Reference and administrative details of the charity are set out on the last page of this document.
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Mates in Mind Report of the Trustees (continued) For the year ended 31 December 2023
Trustees’ responsibilities for the financial statements
The charity trustees (who are also directors of Mates in Mind for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and regulations.
Company law requires the charity trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable laws). Under company law the charity trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period.
In preparing the financial statements, the charity trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities Statement of Recommended Practice (SORP);
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The charity trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and 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 and Trustee Investment (Scotland) Act 2005, regulation 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended) and with the requirements of the Companies Act 2006. 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.
In so far as the charity trustees are aware:
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there is no relevant audit information of which the charitable company's auditors are unaware; and
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the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
The charity trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. In preparing this report charity trustees have taken the advantage of the small companies’ exemptions provided by section 381a of the Companies Act 2006.
Auditor
UHY Hacker Young LLP were re-appointed as auditors of the company in accordance with section 485 of the Companies Act 2006.
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Kevin Myers on behalf of the board
The annual report was approved by the Board and authorised for issue on 10 September 2024.
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Mates in Mind Independent Auditor’s Report As at 31 December 2023
INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF MATES IN MIND
Opinion
We have audited the financial statements of Mates in Mind (“the charitable company”) for the year ended 31 December 2023 which comprise the statement of financial activities, the balance sheet and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 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:
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give a true and fair view of the state of the charitable company’s affairs as at 31 December 2023 and of its incoming resources and application of resources for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006, as amended.
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 charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and the provisions available for small entities, 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 entity’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 trustees with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the financial statements. 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.
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 course of the audit, or otherwise appears to 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.
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Mates in Mind Independent Auditor’s Report (continued) For the year ended 31 December 2023
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
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the information given in the trustees’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
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the trustees’ 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 charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ report. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
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adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
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the financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of trustees’ remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit; or
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the trustees were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemption in preparing the trustees’ report and from the requirement to prepare a strategic report.
Responsibilities of trustees
As explained more fully in the trustees’ 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 the trustees 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 charitable company’s 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 charitable company or to cease operations, or have no realistic alternative but to do so.
Auditor's 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 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.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Based on our understanding of the charitable company and the sector in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to the acts by the charitable company, which were contrary to applicable laws and regulations including fraud, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to inflated revenue and profit.
Audit procedures performed included: review of the financial statements disclosures to underlying supporting documentation, review of correspondence with and reports to the regulators, review of correspondence with legal advisors, enquiries of management and testing of journals and evaluating whether there was evidence of bias by the trustees that represented a risk of material misstatement due to fraud.
There are inherent limitations in the audit procedures described above and the further removed noncompliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud
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Mates in Mind Independent Auditor’s Report (continued) For the year ended 31 December 2023
is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: http://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the charitable company’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 charitable company’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 charitable company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
Subarna Banerjee (Senior Statutory Auditor)
For and on behalf of UHY Hacker Young
Chartered Accountants and Statutory Auditor
4 Thomas More Square London E1W 1YW
Date: 10 September 2024
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Mates in Mind
Statement of Financial Activities
For the year ended 31 December 2023
----- Start of picture text -----
Year ended 31 December 2023 Year ended 31 December 2022
Unrestricted Restricted Unrestricted Restricted
funds funds Total funds funds funds Total funds
Note £ £ £ £ £ £
Income from:
Donations 395,409 - 395,409 281,087 - 281,087
Charitable activities 353,629 2,439 356,068 222,273 5,000 227,273
Total 749,038 2,439 751,477 503,360 5,000 508,360
Expenditure on:
Charitable activities 2 (689,316) (2,439) (691,755) (529,084) (19,153) (548,237)
Total (689,316) (2,439) (691,755) (529,084) (19,153) (548,237)
Net (expense)/income 59,722 - 59,722 (25,724) (14,153) (39,877)
Transfers between funds - - - - - -
Net movement in funds 59,722 - 59,722 (25,724) (14,153) (39,877)
Reconciliation of funds / (deficit):
Total funds/(deficit) brought forward at 1 January (22,370) 18,500 (3,870) 3,354 32,653 36,007
Total funds/(deficit) carried forward at 31 December 37,352 18,500 55,852 (22,370) 18,500 (3,870)
----- End of picture text -----
All of the above results are derived from continuing activities. The net income for the year for Companies Act purposes was the same as the net movement in funds for the year.
The accompanying accounting policies and notes form an integral part of these financial statements.
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Mates in Mind Balance Sheet
As at 31 December 2023
| Note Fixed assets Intangible assets 4 Tangible fixed assets 5 Current assets Debtors 6 Cash at bank Creditors: amounts falling due within one year 7 NET ASSETS/(LIABILITIES) Funds/(Deficit) Unrestricted deficit - undesignated 9, 10 Unrestricted funds - designated 9, 10 Restricted funds 9, 10 TOTAL FUNDS/(DEFICIT) |
2023 | 2022 |
|---|---|---|
| £ 78,335 - 78,335 27,589 264,427 292,016 (314,499) 55,852 (40,983) 78,335 18,500 55,852 |
£ 125,336 955 |
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| 126,291 | ||
| 30,738 158,090 |
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| 188,828 (318,989) |
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| (3,870) | ||
| (148,661) 126,291 18,500 |
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| (3,870) | ||
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small company’s regime.
The financial statements were approved by the Board and authorised for issue on 10 September 2024.
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Kevin Myers, Chair
The accompanying accounting policies and notes form an integral part of these financial statements. Company number: 10338868
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Mates in Mind Principal Accounting Policies For the year ended 31 December 2023
1. PRINCIPAL ACCOUNTING POLICIES
Significant judgements, key assumptions and estimates
The preparation of the financial statements in conformity with generally accepted accounting practice requires the charity trustees to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the accounts, and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from these estimates. The key estimates and assumptions used in these financial statements are set out below:
Supporter deferred income
Income is recognised in accordance with the accounting policies, with a deferral made for income which has been invoiced before its recognition criteria are met. Income received in advance, relating to future periods, is carried forward in the balance sheet as deferred income and released over the supporter membership period.
Basis of preparation
The charity has taken advantage of the exemptions from producing a separate cashflow statement and financial instrument disclosures as laid out in section 1.12 of FRS102.
The financial statements have been prepared:
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a) Under the historical cost convention.
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b) In sterling, which is the functional currency of the charity.
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c) In accordance with FRS102 section 1A small entities, the statement of recommended practice 'Accounting and Reporting by Charities' (SORP 2019) and applicable company and charitable law in the UK. The charity is a public benefit entity, as defined by FRS102. The accounting policies adopted by the charity trustees are described below.
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d) On the going concern basis.
The Trustees review and approve the annual budget and receive regular information to allow them to assess actual trading performance against the budget. The Trustees also review ongoing forecasts to ensure the charity remains financially viable. The trustees have obtained written confirmation from the British Safety Council of its intention to provide support to the charity to enable it to continue operating and to meet its liabilities, as and when they fall due, for a period of not less than 12 months from the date of this Trustees’ Report and financial statements.
Having taken all of these factors into account, the Trustees have a reasonable expectation that the charity has adequate resources to continue operating for the foreseeable future and, for this reason, have continued to adopt the going concern basis for preparation of the financial statements. This view is informed by the letter of support from British Safety Council.
Fund accounting
Unrestricted funds are those which are available for use at the discretion of the charity trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds are unrestricted funds which are to be used in accordance with specific decisions made by the charity trustees. They are reviewed annually. In addition, the charity trustees designate funds to match the net book value of tangible and intangible fixed assets.
Restricted funds are funds received for a particular purpose the use of which is restricted to terms stipulated by the donor.
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Mates in Mind Principal Accounting Policies (continued) For the year ended 31 December 2023
1. PRINCIPAL ACCOUNTING POLICIES (continued)
Intangible assets
Intangible assets are stated at cost less accumulated amortisation. Amortisation is calculated, using the straight-line method, to allocate the depreciable amount of the assets to their residual values over their estimated useful lives (typical technological useful life), as follows:
Website development costs
3 – 5 years
Amortisation commences once the asset is brought into use. The carrying values of intangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable. An impairment loss is recognised immediately in the SOFA.
Tangible fixed assets and depreciation
Depreciation is provided on all property, plant and equipment, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:
Computer hardware
3 – 5 years
Depreciation commences once the asset is brought into use. The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable. An impairment loss is recognised immediately in the SOFA.
Trade debtors
Trade debtors are recognised at the undiscounted amount of cash receivable from the customer, less any appropriate provision for estimated irrecoverable amounts. A provision is established for irrecoverable amounts when there is objective evidence that amounts due under the original payment terms will not be collected.
Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at bank and in hand and short-term deposits with an original maturity date of three months or less.
Income
Income is recognised to the extent that the charity obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales taxes or duty. The following criteria must also be met before revenue is recognised:
Income from the rendering of services, including training courses, is recognised by reference to the stage of completion. Fees received in advance, relating to future periods are carried forward in the balance sheet as deferred income.
Subscriptions, receivable on varying dates throughout the year, are apportioned on a time basis, the proportion received in advance being carried forward in the balance sheet.
Donations and grants are recognised when received or when the charity is entitled to the income and receipt is probable and measurable. Gifts in kind (representing donations of services) are measured at the fair value of the gift, usually the cost to the donor.
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Mates in Mind Principal Accounting Policies (continued) For the year ended 31 December 2023
1. PRINCIPAL ACCOUNTING POLICIES (continued)
Expenditure
All expenditure is accounted for on an accruals basis and is allotted directly to the activity to which they relate. Support costs including governance, management, finance, information technology, human resources are allocated to the charitable activities. Irrecoverable VAT is included in the expense item to which it relates.
Product development expenditure is written off as incurred.
Trade creditors
Trade creditors are recognised at the undiscounted amount owed to the supplier.
Defined contribution pension scheme
A personal pension is available to staff with an employer contribution depending on the employee’s age. The cost of providing this benefit is charged to the SOFA in year.
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Mates in Mind Notes to the Financial Statements For the year ended 31 December 2023
2. BREAKDOWN OF RESOURCES EXPENDED
Breakdown of resources expended
| Breakdown of resources expended Resources expended - Charitable activities Resources expended - Charitable activities Support cost allocations Management and administration Human resources Information Technology Total Total expenditure is stated after including the following: Staff costs (note 3) Amoritsation of intangible assets (note 4) Depreciation of owned tangible assets (note 5) Auditor's remuneration |
2023 | |||
|---|---|---|---|---|
| Activities undertaken directly £ 590,001 |
Support costs £ 101,754 2022 |
Total £ 691,755 |
||
| Activities undertaken directly £ 432,420 |
Support costs £ 115,817 2023 Support costs - Charitable activities £ 84,944 2,924 13,886 101,754 2023 £ 337,960 47,001 955 7,500 |
Total £ 548,237 |
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| 2022 Support costs - Charitable activities £ 98,044 3,960 13,813 |
||||
| 115,817 | ||||
| 2022 £ 310,262 47,001 2,165 6,000 |
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Mates in Mind Notes to the Financial Statements (continued) For the year ended 31 December 2023
3. STAFF COSTS
Staff costs during the year are below:
----- Start of picture text -----
2023 2022
£ £
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| Wages and salaries Social security costs Expense for defined contribution pension schemes |
292,258 271,599 31,570 26,914 14,132 11,749 337,960 310,262 |
|---|---|
The average number of persons employed by the company during the year was 7 (2022: 6).
The number of employees who received employee benefits (excluding employer pension costs) of more than £60,000 during the year were as follows.
----- Start of picture text -----
2023 2022
Number Number
£60,001 - £70,000 1 -
- -
£70,001 - £80,000
£80,001 - £90,000 - 1
£90,001 - £100,000 1 -
2 1
----- End of picture text -----
One key management personnel (2022: One) were members of the defined contribution pension scheme. Contributions amounting to £6,987 (2022: £6,042) were paid on their behalf.
4. INTANGIBLE ASSETS
| Cost At 1 January Additions At 31 December Amortisation At 1 January Provided in year At 31 December Net book value at 31 December Net book value at 1 January |
2023 Website development costs £ 188,004 - 188,004 (62,668) (47,001) (109,669) 78,335 125,336 |
2022 Website development costs £ 188,004 - |
|---|---|---|
| 188,004 | ||
| (15,667) (47,001) |
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| (62,668) | ||
| 125,336 | ||
| 172,337 | ||
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Mates in Mind Notes to the Financial Statements (continued) For the year ended 31 December 2023
5. FIXED ASSETS
| Cost At 1 January At 31 December Depreciation At 1 January Provided in year At 31 December Net book value at 31 December Net book value at 1 January |
2023 Computer equipment £ 9,498 9,498 (8,543) (955) (9,498) - 955 |
2022 Computer equipment £ 9,498 |
|
|---|---|---|---|
| 9,498 | |||
| (6,378) (2,165) |
|||
| (8,543) | |||
| 955 | |||
| 3,120 | |||
| 6. DEBTORS 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 8. DEFERRED INCOME Trade debtors Other debtors Due from parent undertaking Prepayments and accrued income Trade creditors Other creditors Taxation and social security Accruals Due to parent undertaking Deferred income (note 8) Deferred income as at 1 January Deferred incoming resources Release of deferred income Deferred income as at 31 December |
2023 £ 23,691 2,585 - 1,313 27,589 2023 £ 20,624 10,560 10,813 17,187 15,749 239,566 314,499 2023 £ 285,673 306,386 (352,493) 239,566 |
2022 £ 17,886 2,000 10,852 - |
|
| 30,738 | |||
| 2022 £ 239 10,081 6,692 16,304 - 285,673 |
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| 318,989 | |||
| 2022 £ 213,232 266,832 (194,391) |
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| 285,673 |
Income is recognised in accordance with the accounting policies, with a deferral made for income which has been invoiced before its recognition criteria are met.
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Mates in Mind Notes to the Financial Statements (continued) For the year ended 31 December 2023
9. SUMMARY OF MOVEMENTS IN (DEFICIT) / FUNDS
Movements in funds during the year ended 31 December 2023 were as follows:
| Unrestricted funds Undesignated funds Designated funds Restricted Northern Counties Society Group Tideway Hobson Trust Total (deficit) / funds |
At 1 January 2023 Income Expenditure Transfers At 31 December 2023 £ £ £ £ £ (148,661) 749,038 (689,316) 47,956 (40,983) 126,291 - - (47,956) 78,335 |
|---|---|
| (22,370) 749,038 (689,316) - **37,352 ** |
|
| 10,000 - - - 10,000 8,500 - - - 8,500 - 2,439 (2,439) - - |
|
| 18,500 2,439 (2,439) - 18,500 |
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| (3,870) 751,477 (691,755) - 55,852 |
Movements in funds during the year ended 31 December 2022 were as follows:
| Unrestricted funds Undesignated funds Designated funds Restricted Northern Counties Society Group Tideway B&CE Apprentice Programme Total (deficit) / funds |
At 1 January 2022 Income Expenditure Transfers At 31 December 2022 £ £ £ £ £ (172,103) 503,360 (529,084) 49,166 (148,661) 175,457 - - (49,166) **126,291 ** |
|---|---|
| 3,354 503,360 (529,084) - (22,370) |
|
| 10,000 - - - 10,000 8,500 - - - 8,500 14,153 - (14,153) - - - 5,000 (5,000) - - |
|
| 32,653 5,000 (19,153) - 18,500 |
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| 36,007 508,360 (548,237) - (3,870) |
|
Undesignated funds / Designated funds
The board’s policy is to designate funds to match the value of the charity’s tangible and intangible fixed assets and for essential future spending. The transfers from undesignated to designated funds is to reflect the net book value of the tangible and intangible fixed assets at the year end. The deficit on undesignated funds arises from expenditures in the establishment and trading of the charity. The Trustees aim to increase primary purpose trading activities and use any surpluses generated to build modest reserves.
Restricted funds
Northern Counties Society Group represents funds to be spent on activities in the North East.
Tideway funds represent funds for use on projects related to providing training and support to vulnerable workers (sole traders/micro businesses), in the construction industry.
Hobson Trust represents funds for improving workplace mental health of frontline construction workers in London.
B&CE represents funds for mental health research.
Apprentice programme represents sponsorship of the Mates in Mind apprenticeship mental health programme for Trafford and Stockport College.
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Mates in Mind Notes to the Financial Statements (continued) For the year ended 31 December 2023
10. ANALYSIS OF NET (LIABILITIES) / ASSETS BETWEEN (DEFICIT) / FUNDS
Fund balances at 31 December 2023 are represented by:
| Intangible fixed assets Tangible fixed assets Current assets Current liabilities Total (deficit) / funds |
Undesignated funds £ - - 273,516 (314,499) (40,983) |
Designated funds £ 78,335 - - - |
Restricted Funds - - 18,500 - 18,500 |
Total funds £ 78,335 - 292,016 (314,499) |
|---|---|---|---|---|
| 78,335 | 55,852 |
Fund balances at 31 December 2022 are represented by:
| Intangible fixed assets Tangible fixed assets Current assets Current liabilities Total (deficit) / funds |
Undesignated funds £ - - 170,328 (318,989) (148,661) |
Designated funds £ 125,336 955 - - |
Restricted Funds - - 18,500 - 18,500 |
Total funds £ 125,336 955 188,828 (318,989) |
|---|---|---|---|---|
| 126,291 | (3,870) |
11. CAPITAL COMMITMENTS
At the year-end, the charity had not entered into any capital commitments (2022: none).
12. PROVISIONS FOR LIABILITIES, CONTINGENT ASSETS AND LIABILITIES
At 31 December 2023 and 31 December 2022, the charity had no provisions for liabilities or contingent liabilities.
13. POST EMPLOYMENT BENEFITS
The charity operates a defined contribution group personal pension scheme. All eligible employees are automatically enrolled into the scheme in accordance with current legislation. The amount recognised in the SOFA as an expense for the defined contribution scheme is disclosed at note 3.
14. LEASING COMMITMENTS
At 31 December 2023 and 31 December 2022, the charity had no commitments under non-cancellable operating leases.
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Mates in Mind Notes to the Financial Statements (continued) For the year ended 31 December 2023
15. TRANSACTIONS WITH TRUSTEES AND OTHER RELATED PARTIES
Trustees
The trustees may incur travel, accommodation, subsistence and venue costs during the year in fulfilling their duties. Whilst these costs may be either reimbursed to the charity trustees or paid directly to third parties, no such reimbursements or payments were made during the year or prior year.
Indemnity insurance is provided for the charity trustees as part of the parent entity's policy. That part of the premium paid during the year and prior year in respect of the charity trustees cannot be separately identified.
Key management personnel
The charity trustees received no remuneration for their services to the charity during the year or prior year.
All senior employees who have authority and responsibility for planning, directing and controlling the activities of the charity are key management personnel. The names of those individuals who served as key management personnel during the year are set out on the last page of this document. Total benefits (including social security costs) in respect of key management personnel during the year was £98,085 (2022: £108,301).
Intra-group transactions
During the year the British Safety Council charged the charity fees in the amount of £77,444 (2022: £90,544) in respect of (i) management services (covering predominantly Finance, Information Technology and Human Resources) provided by the British Safety Council to the charity and (ii) direct costs of the charity in these same areas which were borne by the British Safety Council and recharged at cost.
At the end of the year, the net balance due to the British Safety Council was £15,749 (2022: £10,852 from the British Safety Council).
Other related party transactions
During the year, the charity recorded income from sales made to organisations where certain trustees undertake their employment duties. These transactions were undertaken on normal commercial terms and amounted to £10,598 in aggregate (2022: £11,172). Income per related party can be analysed as follows: Balfour Beatty Plc £623 (2022: £8,260), Bazalgette Tunnel Ltd (t/a Tideway) £8,730 (2022: £1,667) and Balfour Beatty VINCI Joint Venture: £1,245 (2022: £1,245).
Parent and ultimate controlling party
The charity is a subsidiary of British Safety Council, a charity registered in England and Wales (Number 1097271), and Scotland (Number SC037998), and a company registered in England and Wales (Number 04618713). The parent company’s strategy is to generate a surplus on revenue generating activities to fund the Influencing of the health, safety and wellbeing agenda. The parent company’s consolidated accounts are publicly available from Companies House.
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Mates in Mind Reference and Administrative Details For the year ended 31 December 2023
| Company number: | 10338868 |
|---|---|
| Charity numbers: | 1172460 in England and Wales |
| SC047778 in Scotland | |
| Registered office: | 10 Queen Street Place, London, EC4R 1BE |
| The Board of Trustees: | Kevin Myers (Chair) |
| Steve Hails | |
| Paul Cottam | |
| Nicola Hodkinson | |
| Ian Bucknell (appointed 5 July 2023) | |
| Sean Sadler (appointed 5 July 2023) | |
| Danny Clarke | |
| Allan Wright | |
| Kizzy Augustin (appointed 23 May 2024) | |
| Henrietta Frater (appointed 23 May 2024) | |
| Michael Robinson (resigned 5 July 2023) | |
| Arun Muttreja (resigned 5 July 2023) | |
| (Trustees listed above served throughout the year and since except where | |
| stated) | |
| Key management | Sarah Meek Managing Director (to 16 February 2024) |
| personnel: | Samantha Downie Managing Director (from 16 February 2024) |
| Company secretary: | Michael Robinson (resigned 5 July 2023) |
| Sarah Meek (appointed 5 July 2023, resigned 16 February 2024) | |
| Samantha Downie (appointed 16 February 2024) | |
| Banker: | Barclays Bank plc, 75 King Street, London, W6 9HY |
| Solicitor: | Russell-Cooke Solicitors, 2 Putney Hill, London, SW15 6AB |
| Auditor: | UHY Hacker Young, Quadrant House, 4 Thomas More Square, London, |
| E1W 1YW |
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