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2024-03-31-accounts

Charity number: 1177800

The Mindfulness Network

Report of the Trustees and Unaudited Financial Statements

For the year ended 31 March 2024

The Mindfulness Network Contents Page For the year ended 31 March 2024

Report of the Trustees 1 to 5
Independent Examiner's Report to the Trustees 6
Statement of Financial Activities 7
Statement of Financial Position 8
Notes to the Financial Statements 9 to 16

The Mindfulness Network Report of the Trustees For the year ended 31 March 2024

The Trustees have pleasure in presenting their report and the financial statements for the charity for the year ended 31 March 2024. The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102) (effective 1 January 2019).

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The Mindfulness Network Report of the Trustees Continued For the year ended 31 March 2024

Executive Summary: The Mindfulness Network 2023-24

Our Mission

Connecting you with mindfulness and compassion.

We aim to create a global network that fosters well-being and alleviates human suffering through mindfulness.

Key Activities

Achievements

Financial Highlights

Governance

Our dedicated Board of Trustees and Executive Director ensure strategic leadership and effective management, supported by various committees and special interest groups.

Future Plans

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The Mindfulness Network Report of the Trustees Continued For the year ended 31 March 2024

OBJECTIVES AND ACTIVITIES

Mission

By developing mindfulness and compassion both internally and through our services, the Mindfulness Network has the intention to reduce/alleviate human suffering, promote well-being and create the conditions in which people, communities and the planet, can flourish.

Vision

We aim to be a true network connecting the mindfulness community - students, teachers, practitioners, supervisors, training providers, globally.

Summary of Objectives

The objectives of the charity are the advancement of health and wellbeing of the general public by:

Summary of Main Activities Undertaken for Public Benefit

The Mindfulness Training Pathway

The Mindfulness Network continues to embed the newly developed training curriculum which offers a more accessible training programme that is suited to those wanting to learn essential skills in delivering mindfulness within a wide range of professional contexts, or for those wanting to embark upon an internationally renowned training pathway to teach one or more mindfulness-based Program, such as Mindfulness-Based Stress Reduction (MBSR) and Mindfulness-Based Cognitive Therapy (MBCT) and, for those already trained, that want to hone their skills through continued professional development.

Our training programme is delivered in collaboration with the Mindfulness Centre at Bangor University. Our trainers are senior mindfulness trainers within Bangor University, and Bangor University continues to be the issuing body for certificates of competency. Bangor University and the Mindfulness Network work closely together in the ongoing development and quality assurance of our training events.

Retreats

We offer a range of mindfulness retreats that are inclusive, based on well-researched approaches, and respect differing views and beliefs. Our retreats are informed by both ancient knowledge and modern theories, as well as scientific findings about health and well-being. They are open to people of any and no faith.

Our aim is to provide mindfulness-based practitioners and teachers with a variety of opportunities to deepen their practice, in supportive settings, with the guidance of experienced mindfulness retreat leaders. All of our retreats are led by highly experienced teachers, trained in retreat leadership, who are senior in the field of mindfulness-based interventions.

Compassion

We offer Mindfulness-Based Compassionate Living teacher training and retreat and Mindful Self Compassion retreats which complements the Mindfulness Self Compassion teach training pathway which is delivered in partnership with peer organisations.

In Jan 2024 we combined and appointed the role of Training and Retreat Lead to oversee the development of the Mindfulness and Compassion programme of events that we offer.

Supervision

Individual and group mindfulness-based supervision is offered in the UK and beyond, to support mindfulness-based teachers to deliver their work with the highest levels of integrity. We can now connect mindfulness teachers to supervisors in 11 different languages including Cantonese, Spanish and Hindi.

Our supervisors meet The British Association of Mindfulness-Based Approaches (BAMBA) Good Practice Guidelines for Supervisors and our own requirements. All are deeply experienced mindfulness-based teachers who have had specific training to develop their skills as supervisors.

Commissioned Courses

We also offer commissioned training courses and work with partner organisations – both in the UK and abroad – to offer either the full Training Pathway or individual training events. This year we have delivered a significant number of commissioned courses through collaborations in China, Greece, Spain as well as organisations in the UK.

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The Mindfulness Network Report of the Trustees Continued For the year ended 31 March 2024

Bursaries

The Mindfulness Network is committed to ensuring that our services are as accessible and inclusive as possible. Part of our vision involves removing financial barriers, as much as we can, by offering bursaries so that people from all backgrounds can afford to train to be mindfulness teachers, receive supervision and attend mindfulness retreats. We have a bursary system in place for assisted places across supervision training, retreat and compassion events. This year we have offered regular donationbased events, and the donations from these events have funded fifty-three (2023:55) bursary offers.

[Receiving a bursary provided] a great learning experience to meet people

from all over the world teaching Mindfulness in China, Hong Kong, Hungry, Canada and several more countries. It has widened my view of the mindfulness

world and it has helped me to be a better teacher and supervisor .

Mindfulness Network Community Friends

With the support of our volunteer committee, the Mindfulness Network Community Friends, we have continued to offer free online events. We offered monthly evening events celebrating diverse aspects of mindfulness teaching and research plus a range of other offerings including regular drop-in mindfulness sessions, some of which are for specialist groups and opportunities for trainees to practice leading mindfulness practices.

This is an important aspect of charity, offering services without charge, supported by volunteers. Donations are invited, and these are used to support the costs of the free services and to provide bursaries.

Objectives and aims.

The trustees have considered the Charity Commission’s guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'.

ACHIEVEMENTS AND PERFORMANCE

Significant activities

The charity delivered 2 5 publicly offered online (2023: 28) and 6 in person events (2023 3), of which 6 were retreats (2023: 9 ), 15 were mindfulness Training Pathway events (2023:13), and 1 0 were continuing professional development events including those with a focus on compassion (2023:9)

Alongside these publicly offered courses the charity also successfully delivered 21 Commissioned Courses (2023: 10) in China, Spain, Greece and the UK.

During the year 10 (2023: 10) freely offered evening events were also organised. The regular Friday morning drop-in meditation session continues and has regular attendances of approximately 40 people, and we also offered a special interest group for Men, LGBTQ+, those managing fatigue, a Tuesday lunchtime practice drop-in session, and a session in Mandarin all freely offered. We were also able to freely offer 2 one day online retreats (2023: 1) which were well attended.

Future

The more accessible training pathway that has been developed ensures that The Mindfulness Network continues to be a leading provider of mindfulness teacher training in the UK and has seen an ongoing growth of international attendees.

Delivering our commissioned courses internationally continues to be an area of growth providing opportunities for the future and inviting a more global perspective.

The expansion of free services underpins our charitable purpose and widens access to mindfulness-based approaches. The growth in funds for bursaries will help considerably in the next year to make mindfulness teacher training more accessible.

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The Mindfulness Network Report of the Trustees Continued For the year ended 31 March 2024

FINANCIAL REVIEW

The programme of events remains primarily online but we also successfully delivered 6 in-person events. Three of which were grouped together to provide teaching training of the Going Deeper curriculum which had over 70 attendees.

The charity saw a s u r p l u s in the year of £2,741 (up from a deficit of £12,241 in the previous year) and finished with net funds of £67,780 (up from £65,039 in the previous year), of which £10,493 of the funds are restricted.

Review of the Financial Statements for the Year Ended 31 March 2022

During the year, total income was £436,706 (2023: £409,134) of which £9,664 was donations. The increase in total income is due to the increase in Commissioned course events that have been delivered which has supported the slowing down of participants on the publicly run courses.

Total expenditure was £436,109 (2023: £421,375). The total increase in expenditure is due, in part, to s o m e i n i t i a l e xpenditure on the international conference for mindfulness which will be delivered in August 2024.

On 31 March 2024 unrestricted funds were £57,287 (2023: £47,638) and restricted funds were £10,493 (2023: £17,401)

Reserves

The net reserves on 31 March 2024, not counting restricted funds, were £57,287 (2023: £47,636).

T h e reserves policy is to build and maintain enough funds for three months of operation. As operational costs have grown so this is now approximately £70,000 so there is still some way to go to meet this target. It was decided to retain the bounce back loan of £50,000 obtained under the government scheme and its balance was £22,405 as of 31 March 2024.

Investment Powers and Policy

Under the Governance Document, there are no restrictions of the power of trustees to invest funds. To support the cashflow needs of the organisation, available funds are kept in instant-access savings accounts where interest can be earned when possible.

Risk Management

A risk register is maintained by the Trustees to identify and monitor the likelihood and impact of risks to the charity.

Principle risks include:

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The Mindfulness Network is a Charitable Incorporated Organisation (CIO) governed by its Constitution following incorporation on 3 April 2018.

Governance

The Board of Trustees in this financial year is comprised of 1 2 members with varied backgrounds, experience and skills, all relevant to the work of the charity and meets every 3 months. In addition to this there are Committees and special interest groups to advise and guide on specific areas and projects. These include the Finance Committee, which meets at least every 3 months, and groups for Safeguarding, EDI and specific projects within the charity's remit. These groups report back to the Board.

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The Mindfulness Network Report of the Trustees Continued For the year ended 31 March 2024

Recruitment and appointment of trustees

Recruitment and appointment of trustees

Trustee recruitment considers the needs, in terms of expertise, diversity and succession planning, of the charity. Openings are listed on the website and communicated via our newsletter. Applicants are invited to apply in line with the guidance outlined on the website.

Induction and training of trustees

Prior to the appointment of a trustee, applicants are provided with a comprehensive overview of the charity's journey so far to offer contextual understanding, its current position and performance, and its aims going forward.

On appointment, Trustees are given guidance and support to induct them into their new role.

Management

The Board of Trustees appoints an Executive Director to offer strategic leadership and hold day-to-day responsibility for its activities. The Executive Director works closely with the Chair of the Board and the wider Trustee group, as well as the management team and other key stakeholders, to deliver the business strategy.

REFERENCE AND ADMINISTRATIVE INFORMATION

Name of Charity The Mindfulness Network Charity registration number 1177800 Principal address PO Box 3647 Barnet EN5 9TT

Trustees

The trustees and officers serving during the year and since the year end were as follows:

Independent examiner

Dr Rebecca Crane Uz Afzal Nick Hammond Paula Watson Alex Clifton Avinash Bansode Ria Wildeboer Sonia Gadhia Hayley Dunne Estrella Fernandez Debbie Hu Caroline Clarke ACA 66 High Street Lewes East Sussex BN7 1XG

Approved by the Board of Trustees and signed on its behalf by

............................................................................. 22/1/25

Alex Clifton

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The Mindfulness Network Independent Examiners Report to the Trustees

For the year ended 31 March 2024

I report to the trustees on my examination of the accounts of the charity for the year ended 31 March 2024.

Responsibilities and basis of report

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

I report in respect of my examination of the charity'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 examiners statement

Since the Charity's gross income exceeded £250,000, your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination by virtue of my membership of Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

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

  1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or 2. the accounts do not accord with those records; or

  2. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination.

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.

23/1/25

Caroline Clarke ACA 66 High Street Lewes East Sussex BN7 1XG

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The Mindfulness Network Statement of Financial Activities For the year ended 31 March 2024

Notes Unrestricted Restricted 2024 2023
funds funds
£ £ £ £
Income and endowments from:
Donations and legacies 2 7,804 1,860 9,664 12,385
Charitable activities 3 425,257 - 425,257 396,541
Investments 4 3,929 - 3,929 208
Total 436,990 1,860 438,850 409,134
Expenditure on:
Charitable activities 5/6 (427,341) (8,768) (436,109) (421,375)
Total (427,341) (8,768) (436,109) (421,375)
Net income/expenditure 9,649 (6,908) 2,741 (12,241)
Reconciliation of funds
Total funds brought forward 47,638 17,401 65,039 77,280
Total funds carried forward 57,287 10,493 67,780 65,039

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The Mindfulness Network Statement of Financial Position As at 31 March 2024

Notes 2024 2023
£ £
Current assets
Debtors 12 28,483 20,892
Cash at bank and in hand 197,787 249,011
226,270 269,903
Creditors: amounts falling due within one year 13 (136,109) (172,528)
Net current assets 90,161 97,375
Total assets less current liabilities 90,161 97,375
Creditors: amounts falling due after more than one year 14 (22,381) (32,336)
Net assets 67,780 65,039
The funds of the charity
Restricted income funds 15 10,493 17,401
Unrestricted income funds 15 57,287 47,638
Total funds 67,780 65,039

The financial statements were approved and authorised for issue by the Board and signed on its behalf by:

22/1/25

Alex Clifton

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The Mindfulness Network Notes to the Financial Statements For the year ended 31 March 2024

1. Accounting Policies

Basis of accounting

The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Charities Act 2011.

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

Going concern

The financial statements are prepared, on a going concern basis, under the historical cost convention.

Funds

The charity maintains a general unrestricted fund which represents funds which are expendable at the discretion of the trustees in furtherance of the objects of the charity. Such funds may be held in order to finance both working capital and capital investment.

Designated funds comprise of unrestricted funds that have been set aside by the Trustees for particular purposes.

Restricted funds have been provided to the charity for particular purposes, and it is the policy of the board of trustees to carefully monitor the application of those funds in accordance with the restrictions placed upon them.

There is no formal policy of transfer between funds or on the allocation of funds to designated funds, other than that described above

Incoming resources

All incoming resources are included in the statement of financial activities when the Charity is entitled to the income and the amount can be quantified with reasonable accuracy.

Income from government and other grants, whether ‘capital' grants or ‘revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

Resources expended

Liabilities are recognised as resources expended when there is a legal or constructive obligation committing the Charity to the expenditure:

Expenditure is classified under the following activity headings:

Taxation

As a registered charity, the company is exempt from income and corporation tax to the extent that its income and gains are applicable to charitable purposes only. Value Added Tax is not recoverable by the company, and is therefore included in the relevant costs in the Statement of Financial Activities.

Debtors

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

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The Mindfulness Network Notes to the Financial Statements Continued For the year ended 31 March 2024

2. Income from donations and legacies

Unrestricted Restricted 2024 2023
funds funds
£ £ £ £
Donations received 7,804 1,860 9,664 12,385
7,804 1,860 9,664 12,385
ncome from charitable activities
2024 2023
£ £
Unrestricted funds
Serving the mindfulness
community and to advance the
health and well-being of the
general public
Income from charitable 425,257 396,541
activities
nvestment income
2024 2023
£ £
Unrestricted funds
Bank interest receivable 3,929 208
3,929 208
osts of charitable activities by fund type
Unrestricted Restricted 2024 2023
funds funds
£ £ £ £
Serving the mindfulness 292,497 8,768 301,265 297,468
community and to advance the
health and well-being of the
general public
Support costs 134,844 - 134,844 123,907
427,341 8,768 436,109 421,375

3. Income from charitable activities

4. Investment income

5. Costs of charitable activities by fund type

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The Mindfulness Network Notes to the Financial Statements Continued For the year ended 31 March 2024

6. Costs of charitable activities by activity type

Activities Support 2024 2023
undertaken costs
directly
£ £ £ £
Support costs
Serving the mindfulness 301,265 134,844 436,109 421,375
community and to advance the
health and well-being of the
general public

7. Analysis of support costs

nalysis of support costs
2024 2023
£ £
Serving the mindfulness community and to advance the health and well-being of the general public
Management 96,196 75,097
Finance 5,004 7,056
IT 16,593 15,421
Office Costs 8,619 8,000
Travel and 7,040 7,293
Accomodation
Development Fund - 9,648
Governance costs 1,392 1,392
134,844 123,907

8. Net income/(expenditure) for the year

This is stated after charging/(crediting):

This is stated after charging/(crediting):
2024 2023
£ £
Accountancy fees 1,392 1,392
Staff pension contributions 6,013 5,664

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The Mindfulness Network

Notes to the Financial Statements Continued For the year ended 31 March 2024

9. Staff costs and emoluments

Total staff costs for the year ended 31 March 2024 were:

Total staff costs for the year ended 31 March 2024 were:
2024 2023
£ £
Salaries and wages 212,470 213,188
Social security costs 9,853 9,902
Pension costs 6,013 5,664
228,336 228,754
2024 2023
Support Staff 13 12
13 12

No employee earned more than £60,000 during the year (nil:2023).

The total employee benefits including pension contributions of the key management personnel were £12,836.

10. Trustee remuneration and related party transactions

The charity trustees were not paid or received any other benefits from employment with the charity in the year (2023:£nil).

During the year payments of £1,768 were made to 3 trustees for teaching, supervision and speaker fees (2023:£364).

2 trustees received travel expenses of £370 (2023:£nil)

There were no other related party transactions to disclose for 2024 (2023:none).

There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.

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The Mindfulness Network

Notes to the Financial Statements Continued For the year ended 31 March 2024

11. Comparative for the Statement of Financial Activities

Income and endowments from:
Donations and legacies
Charitable activities
Investments
Total
Expenditure on:
Charitable activities
Total
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
Debtors
Amounts due within one year:
Trade debtors
Prepayments and accrued income
Other debtors		 Unrestricted
funds
£
5,634
396,541
208
402,383
(410,712)
(410,712)
264
(8,065)
55,703
47,638		 Restricted
funds
£
6,751
-
-
6,751
(10,663)
(10,663)
(264)
(4,176)
21,577
17,401
2024
£
16,003
10,293
2,187
28,483		 2023
£
12,385
396,541
208
409,134
(421,375)
(421,375)
-
(12,241)
77,280
65,039
2023
£
17,447
3,445
-
20,892

12. Debtors

13. Creditors: amounts falling due within one year

2024 2023
£ £
Other creditors 131,260 165,154
Accruals and deferred income 4,849 7,374
136,109 172,528

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The Mindfulness Network Notes to the Financial Statements Continued For the year ended 31 March 2024

14. Creditors: amounts falling due after more than one year

Creditors: amounts falling due after more than one year
Loans and overdrafts 2024
£
22,381
22,381		 2023
£
32,336
32,336

15. Movement in funds

Balance at
01/04/2023
£
47,638
47,638
Balance at
01/04/2022
£
55,703
55,703		 Incoming
resources
Outgoing
resources
£
£
436,990
(427,341)
436,990
(427,341)
Incoming
resources
Outgoing
resources
£
£
402,383
(410,712)
402,383
(410,712)		 Transfers
£
-
-
Transfers
£
264
264		 Balance at
31/03/2024
£
57,287
57,287
Balance at
31/03/2023
£
47,638
47,638

Purpose of unrestricted Funds

General

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.

Restricted Funds

Balance at Incoming Outgoing Transfers Balance at
01/04/2023 resources resources 31/03/2024
£ £ £ £ £
Bursary funds 4,885 1,860 (1,400) - 5,345
FOB Legacy 3,876 - (1,912) - 1,964
MNCF 8,640 - (5,456) - 3,184
17,401 1,860 (8,768) - 10,493

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The Mindfulness Network

Notes to the Financial Statements Continued For the year ended 31 March 2024

Restricted Funds - Previous year

Balance at Incoming Outgoing Transfers Balance at
01/04/2022 resources resources 31/03/2023
£ £ £ £ £
Bangor University 667 - - (667) -
CMRP/MN
Bursary funds 6,410 2,258 (720) (3,063) 4,885
Events - 3,937 (8,819) 4,882 -
FOB Legacy 5,000 - (1,124) - 3,876
MNCF 8,084 556 - - 8,640
Train to Teach 1,416 - - (1,416) -
21,577 6,751 (10,663) (264) 17,401

Purpose of restricted funds

Bursary funds

Bursarys for retreats and supervision

Bangor University CMRP/MN

Funds received for a collaborative project.

FOB Legacy

This is a legacy bursary for those who were former members of the Friends of Bangor alumni group for retreats, supervision and training.

MNCF

This is money that is set aside for our Mindfulness Network Community Friends volunteer group to use for donation based events.

Train to Teach

This is a bursary for training events.

Events

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The Mindfulness Network Notes to the Financial Statements Continued For the year ended 31 March 2024

16. Analysis of net assets between funds

Net current Creditors > Net Assets
assets / one year
(liabilities)
£ £ £
Unrestricted funds
General
General 79,668 (22,381) 57,287
Restricted funds
Bursary funds 5,345 - 5,345
FOB Legacy 1,964 - 1,964
MNCF 3,184 - 3,184
90,161 (22,381) 67,780
Previous year
Net current Creditors > Net Assets
assets / one year
(liabilities)
£ £ £
Unrestricted funds
General
General 79,974 (32,336) 47,638
Restricted funds
Bursary funds 4,885 - 4,885
FOB Legacy 3,876 - 3,876
MNCF 8,640 - 8,640
97,375 (32,336) 65,039

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