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2025-12-31-accounts

MANY MINDS

Registered Charity number: 1175721

Report and Financial Statements For the year ended 31 December 2025

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MANY MINDS

Contents

For the year ended 31 December 2025

Reference and administrative information …………………………………………….3 Trustees’ annual report ………………………………………………………………….4 Independent examiner’s report……………………………………………………… 11 Financial Statements Statement of financial activities ……………………………………………………...12 Balance sheet ………………………………………………………………………….13 Cash flow statement ……………………………………………………………….….14 Notes to the financial statements ……………………………………………………15

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Reference and administration information

Charity Name:

Many Minds

Registered charity number : 1175721

Charity’s principal address: 10 Chelsea Park, Bristol, BS5 6AG

Trustee name Office Dates acted if not
full year		 Name of person
(or body) entitled
to appoint trustee
(if any)
Tom Newman Chair
Sandra Masters
Malaika Kegode
Tabitha Rodney
M Blaydes
Angelina
McClelland

Staff employed by charity: Olivia Ware (Executive Director), Viki Browne (Artistic Director) , Tom O’Shea (Access Worker)

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MANY MINDS

Trustees Annual Report

For the year ended 31 December 2025

The Trustees present their report and financial statements for the year ending 31 December 2025. The reference and administrative information set out on page 3 form part of this report.

Structure, governance and management

Type of governing document: Constitution

How charity is constituted: Association

Trustee selection methods: The Many Minds constitution allows trustees to be appointed by the Board. Member Trustees are elected by the membership at the AGM.

Trustees are given a welcome pack when joining the Board and training on Being a Good Board Member run by Voscur. New Member Trustees are given a mentor to support them to join the Board.

The charity’s policies and procedures include:

Trustees regularly review the risks to Many Minds and manage them in line with the risk policy. Where necessary, external advice is sought to supplement internal expertise.

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Objectives and activities

Objectives

  1. To promote the preservation of good mental health and to assist those at risk of mental health problems for the public benefit, through participation in the arts in order to increase awareness, understanding and reduce stigma of mental health to the wider public through creative activities, performance and professional theatre productions.

  2. To improve access to the arts and other mainstream services for mental health service users by working in partnerships to raise awareness and reduce barriers to access.

  3. To improve confidence, self-esteem, social networks and progression into education, training and employment for mental health service users and those at risk through involvement in creative activities and mentoring.

Activities

In planning the activities for the year, Many Minds trustees have had regard to the Charity Commission Guidance on public benefit.

Many Minds activities undertaken:

Volunteers

Many Minds has a dedicated team of volunteers who have helped to support members in workshop sessions and public performances. Many of the membership have taken on volunteer roles for personal and career progression. We worked with 29 volunteers who gave 488 hours of their time over the year.

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Achievements and performance

2025 was a year of consolidation and strategic development for Many Minds. In response to a challenging funding environment, we adapted our delivery model to ensure organisational stability while continuing to place members at the heart of our work. While overall delivery was reduced in the first half of the year, this period enabled deeper engagement with our core membership and significant investment in future sustainability.

Adapting delivery in response to funding challenges

Due to reduced funds, weekly workshops were temporarily scaled back to monthly sessions for the first six months of the year. Despite this reduction in regular delivery, our membership remained stable at 331 members , demonstrating the strength of relationships, trust and relevance of Many Minds to those we support.

Across the year, we delivered 62 sessions , including workshops, performances, member forums and social activities.

Rather than focusing on volume of workshops alone, we prioritised quality, care and coproduction. Time was dedicated to one-to-one consultations and member forums, creating space for members to shape the organisation’s direction. Members were actively involved in discussions around strategy, fundraising ideas and future income generation, strengthening ownership and collective responsibility.

Strategic development and sustainability

Alongside members, we worked closely with an external consultant to develop our business plan and undertake significant strategic work. This included reviewing our operating model, exploring income diversification and strengthening governance and fundraising approaches. This period of reflection and planning laid vital foundations for the organisation’s longer -term resilience.

This strategic focus resulted in positive outcomes later in the year, including the successful award of a three-year Reaching Communities grant of £70,000 per year. This funding marked a turning point for the organisation, signaling increased stability and confidence in Many Minds’ future.

Partnerships, profile and recognition

Throughout the year we invested time in building new relationships and expanding our network. We developed connections with corporate partners including Ghyston Ltd and The Wave, opening up opportunities for future collaboration, skills sharing and support.

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Our work continued to gain external recognition. Many Minds was Highly Commended in the Arts category at the Bristol Life Awards, reflecting the quality, impact and distinctiveness of our member-led practice.

We also began developing new creative partnerships, including a guest workshop with Bath Community Kitchen, exploring how food, performance and community engagement could come together in future collaborative projects.

Increased delivery and leadership development in the second half of the year

Activity increased significantly in the second half of 2025. Many Minds was selected as headline charity for Krazy Races in Victoria Park, Bristol, where members performed in front of audiences of approximately 8,000 people. Three teams fundraised for Many Minds, designing and racing their own Many Minds-themed carts, raising both funds and public awareness.

From October to December, we delivered a successful Facilitator Training Series, supporting member progression and leadership.

Key achievements in 2025 include:

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Financial Review

Total income for the financial year was £108,371 (2024 £61,282) with expenditure of £88,911 (2024 £122,838) and net income of £19,460 (2024 net expenditure £61,556). At the end of the financial year, total assets amounted to £59,726 represented by Unrestricted Funds of £48,059 and Restricted Funds of £11,667.

Many Minds uses an accruals basis of accounting and has set out the basis of preparation and accounting policies in the notes to the accounts.

Many Minds receives funding from a range of sources. The charity's main source of income is from public bodies, trusts, and foundations. These include Arts Council England, Bristol City Council, National Lottery Community Fund, Nisbet Trust, Paul Hamlyn Foundation, People’s Health Trust, People’s Postcode Lottery, Quartet Community Foundation and the University of Bristol.

Another important source of income is from partnerships with Bristol Old Vic and Ghyston Ltd who have supported Many Minds through donations of services and facilities.

Many Minds has also raised funds of £32,837 (2024 £31,282) from individual donors through a monthly donation scheme and match funding campaigns.

Reserves Policy

Many Minds trustees have agreed on a reserves policy to ensure organisational resilience, to be able to respond to unpredictable financial situations that might arise and to be able to respond to opportunities that might arise throughout the year.

Of the £48,059 of restricted funds comprising the General fund at 31 December 2025, the Trustees have agreed to retain a reserve of £21,000

This allows the charity to have time to put in strategies to secure funding, to be able to uphold obligations as an employer and, if needs be, to ensure that its members can conclude their relationship with the charity in a safe and supportive way.

The trustees will review the reserves policy annually.

Future plans

Following a year of consolidation, strategic reflection and renewed financial stability, Many Minds is looking ahead with clarity and ambition. The focus for the coming period is to build on the foundations laid in 2025, increasing our impact while remaining rooted in member-led practice, care and co-production.

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Deepening impact and creating systemic change

Many Minds’ work has always sought to go beyond individual outcomes, using performance as a tool to explore, question and shift the systems that shape people’s lives. In the coming years, we aim to strengthen this approach, positioning our projects and performances as catalysts for social and systemic change.

A key strand of this work will be the development of Collective Dreaming, a new creative programme that invites members, partners and communities to collectively imagine alternative futures. Through participatory workshops and performances, Collective Dreaming will explore what more equitable, compassionate and inclusive systems could look like, particularly in relation to mental health, access to culture and community belonging.

Initially rooted in Bristol, this programme will be developed with a growing network of partners and will also explore opportunities to share Many Minds’ practice on a national and international level, contributing to wider conversations around arts, wellbeing and social change.

Expanding partnerships and increasing access

Building on the success of previous collaborations, we plan to continue working with arts organisations to reimagine how cultural spaces can be more accessible and welcoming to marginalised communities. This includes developing new work with the Royal West Academy, bringing their forthcoming Dance Out exhibition to life through participatory performance, following the success of Hybrids LIVE.

Through these partnerships, we aim not only to create powerful artistic experiences, but also to influence how organisations think about access, inclusion and engagement. By embedding our practice within partner venues, we seek to support longer-term change in how spaces are designed, programmed and experienced.

Developing member leadership and skills

Supporting member progression remains central to Many Minds’ future plans . Building on the success of the 2025 Facilitator Training Series, we aim to further develop pathways for members to gain skills, confidence and leadership experience through facilitation, mentoring and creative delivery.

Future plans include expanding facilitation training opportunities, offering more one-to-one mentoring, and creating clearer routes for members to take on leadership roles within projects and the organisation. This approach strengthens individual outcomes while also building collective capacity and resilience.

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Sustainability and long-term resilience

Securing three-year core funding from Reaching Communities has provided an important platform for stability. Over the coming period, we will continue to build on this by diversifying income streams, strengthening partnerships and developing earned and contributed income. This will enable us to plan with confidence, respond creatively to emerging opportunities and continue supporting members through changing circumstances.

Looking ahead, Many Minds is committed to growing thoughtfully and sustainably. By combining artistic excellence, member-led practice and a clear focus on social and systemic change, we aim to continue creating work that not only supports wellbeing, but also challenges, inspires and contributes to a more inclusive future.

Declaration

Approved by the trustees on 17 February 2026 and signed on their behalf by:

Tom Newman, Chair of Board of Trustees

Signed:

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Independent Examiner’s Report

To the trustees of

Many Minds

I report to the trustees on my examination of the accounts of the Many Minds (“the Trust”) for the year ended 31 December 2025, which are set out on pages 12 to 19.

Responsibilities and basis of report

As the charity’s trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and 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.

Date: 28 March 2026

Signed:

Michael Evans C.A.,

Member of the Institute of Chartered Accountant of Scotland,

145 Barclay Road, London, E17 9JL

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MANY MINDS

Statement of Financial Activities

for the year ended 31 December 2025________

Unrestricted
funds
Restricted
income
funds
Total
funds
Prior year
funds
£
£
£
£
Income from:
(Note 6)
Public Funding Sources
- 35,000
35,000
20,000
Trusts and Foundations
25,000 -
25,000
10,000
Partnerships
- 15,084
15,084
-
Individual Donations & Match Funding
32,837 -
32,837
31,282
Activities
450 -
450
58,287
50,084
108,371
61,282
Expenditure on:
Payroll
22,873 -
22,873
61,981
Freelance worker and artist fees
19,239 23,333
42,572
36,350
General Running Expenses
5,661 -
5,661
5,999
Marketing and Communications
722 -
722
6,486
Production costs
206 -
206
455
Rent and venue hire
228 15,084
15,312
9,643
Subsistence
1,460 -
1,460
1,314
Travel
105 -
105
610
50,494
38,417
88,911
122,838
7,793
11,667
19,460
(61,556)
40,266 -
40,266
101,822
48,059
11,667
59,726
40,266
Total funds carried forward
Total
Total
Net income (expenditure)
Reconciliation of Funds: (Note
Total funds brought forward
7)		 Unrestricted
funds
Restricted
income
funds
Total
funds
Prior year
funds
£
£
£
£		 Unrestricted
funds
Restricted
income
funds
Total
funds
Prior year
funds
£
£
£
£		 Unrestricted
funds
Restricted
income
funds
Total
funds
Prior year
funds
£
£
£
£		 Unrestricted
funds
Restricted
income
funds
Total
funds
Prior year
funds
£
£
£
£
- 35,000 35,000 20,000
25,000 - 25,000 10,000
- 15,084 15,084 -
32,837 - 32,837 31,282
450 - 450
58,287 50,084 108,371 61,282
22,873 - 22,873 61,981
19,239 23,333 42,572 36,350
5,661 - 5,661 5,999
722 - 722 6,486
206 - 206 455
228 15,084 15,312 9,643
1,460 - 1,460 1,314
105 - 105 610
50,494 38,417 88,911 122,838
7,793 11,667 19,460 (61,556)
40,266 - 40,266 101,822
48,059 11,667 59,726 40,266

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MANY MINDS

Balance Sheet

As at 31 December 2025__________

Fixed assets
Current assets
Debtors
Cash at bank and in hand
Creditors: amounts due within one year
Net current assets
Total net assets
Funds of the charity (note 7)
Restricted income funds
Unrestricted funds:
General
Total funds of the charity		 Unrestricted
funds
Restricted
income
funds
£
£		 Unrestricted
funds
Restricted
income
funds
£
£		 Total
funds
Prior year
funds
£
£		 Total
funds
Prior year
funds
£
£
- - - -
7,066 - 7,066 1,345
41,053 11,667
52,720
43,438
48,119 11,667
59,786		 44,783
60 - 60 4,517
48,059 11,667
59,726		 40,266
48,059
11,667
59,726
40,266
- 11,667
11,667		 -
48,059 - 48,059 40,266
48,059 11,667 59,726
40,266
Thomas Newman
Approved by the Trustees on 17th
February 2026 and signed on their behalf
by
Full name

Chair

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MANY MINDS

Statement of Cash Flows

for the year ended 31 December 2025__________

Net income (expenditure) for the year (as per the
statement of financial activities)
Adjustments for:
(Increase)/decrease in debtors
Increase/(decrease in creditors)
Cash flows from investing activities:
Change in cash in the year
Cash at the beginning of year
Cash at the end of the year
Cash flows from operating activities:
Net cash provided by (used in) operating activities		 Total
funds
Prior year
funds
£
£		 Total
funds
Prior year
funds
£
£
19,460 (61,556)
(5,721) (1,345)
(4,457) 3,089
9,282 (59,812)
- -
9,282 (59,812)
43,438 103,250
52,720 43,438

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MANY MINDS

Notes to the financial statements_________

1. Basis of preparation

(a) Basis of Accounting

These financial statements have been prepared under the historic cost convention in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Statement of Recommended Practice issued by the Charity Commiss ion for England and Wales (“Charities SORP”), and the Charities Act 2011.

(b) Going Concern

The Trustees have examined the Charity’s budget and cash flow projections and consider that there are no material uncertainties about the Charity’s ability to continue as a going concern. Consequently, these financial statements have been prepared on a going concern basis.

(c) Structure of the Statement of Financial Activities

In the Statement of Financial Activities, the Charity has adopted the structure of presentation based on the nature of components of income and expenditure, as permitted by the Charities SORP for smaller charities.

2. Accounting Policies

(a) Fund Structure

Restricted Income Funds are those funds which are to be used in accordance with specific restrictions imposed by the donors.

Unrestricted Income Funds comprise those funds which the Trustees are free to use for any purpose in furtherance of the charitable objectives.

Designated Funds are unrestricted funds earmarked by the Trustees for particular purposes.

(b) Incoming Resources

Incoming resources are recognised once the charity has entitlement to the resources, it is more likely than not that the resources will be received and their monetary value can be measured with sufficient reliability.

In accordance with Charities SORP the value of volunteer help is not determined in the accounts, given the absence of a reliable measurement base, but is described in the Trustees’ report.

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MANY MINDS

Notes to the financial statements

(c) Resources Expended

Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure and the amount can be measured with reasonable certainty.

(d) Fixed Assets

Fixed assets consist of IT equipment which is stated at cost (2025 and 2024 - £7,388) less depreciation (2025 and 2024 - £7,388) applied on a straight line basis over a 3 year estimated life.

3. Employees

The average headcount of employees was 0.5 in 2025 (2 in 2024).

No employee received more than £60,000 in the current and prior years.

4. Trustees and Independent Examiner

The Trustees and Independent Examiner have not received any remuneration, employment benefits or reimbursement of expenses from the charity in the current and prior years.

5. Related party transactions

The Trustees have referred to the definition of related parties set out in the Charities SORP and confirm that there are no related party transactions to report.

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MANY MINDS

Notes to the financial statements____________

Note 6. Analysis of income

Categories
Public Funding
Sources
Trusts and
Partnerships: donated
facilities and services

Individual Donations
and Match Funding
Activities
Foundations		 Sources Unrestricted
Funds
Restricted
income
funds
Total
funds
Prior
year
£
£
£
£		 Unrestricted
Funds
Restricted
income
funds
Total
funds
Prior
year
£
£
£
£		 Unrestricted
Funds
Restricted
income
funds
Total
funds
Prior
year
£
£
£
£		 Unrestricted
Funds
Restricted
income
funds
Total
funds
Prior
year
£
£
£
£
National Lottery
CommunityFund		 - 35,000 35,000 20,000
Total - 35,000 35,000 20,000
Nisbet Trust - - - 5,000
People's Post Code
Lottery		 25,000 - 25,000
Quartet Community
Foundation		 - - - 5,000
**Total ** 25,000 - 25,000 10,000
Bristol Old Vic - 3,564 3,564
Ghyston Ltd - 11,520 11,520
Total - 15,084 15,084 -
32,837 - 32,837 31,282
Consultancy 450 - 450
**Total ** 450 - 450 -
Total Income
58,287 50,084 108,371 **61,282 **

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MANY MINDS

Notes to the financial statements_________

Note 7. Funds of the charity

7.1. Details of funds held and movements (Current year)

Balances
brought
forward
£		 Income
£		 Expenditure
£		 Balances
carried
forward
£
Restricted funds
Bristol Old Vic - 3,564 3,564
-
National LotteryCommunityFund - 35,000 23,333 11,667
Ghyston Ltd - 11,520 11,520 -
- 50,084 38,417 11,667
Unrestricted funds
General fund 40,266 58,287 50,494 48,059
40,266 58,287 50,494 48,059
Total Funds (Current year)40,266 108,371 88,911 59,726

7.2. Details of funds held and movements ( Prior year)

Balances
brought
forward
£		 Income
£		 Expenditure
£		 Balances
carried
£
Restricted funds
Bristol CityCouncil 21,557 - 21,557 -
National LotteryCommunityFund - 20,000 20,000 -
Nisbet Trust - 5,000 5,000 -
Paul Hamlyn Foundation 25,582 - 25,582
Quartet CommunityFoundation - 5,000 5,000 -
Universityof Bristol 4,310 - 4,310 -
51,449 30,000 81,449 -
Unrestricted funds
Designated
Match FundingProgrammes 23,001 - 23,001 -
General fund 27,372 31,282 18,388 40,266
50,373 31,282 41,389 40,266
Total Funds(Prioryear) 101,822 61,282 122,838 40,266

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MANY MINDS

Notes to the financial statements

7.3. Explanatory notes on funds held and movements

All funds held are used in furtherance of the objects of the charity which are set in the Trustees’ report.

Restricted funds are used in accordance with the donors’ specific requirements to support charitable activities, contribute to core costs and fund investments. The Restricted funds carried forward at 31 December 2025 have been allocated to 2026 activities as agreed with the donors.

The Unrestricted funds are used in accordance with the policies defined by the Trustees. The General fund carried forward at 31 December 2025 is available for the ongoing activities of the charity and is also considered appropriate to ensure organisational resilience in accordance with the reserves policy defined by the Trustees.

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