Registered Charity Number 1179490
## **BEAUTIFUL MIND**
## **TRUSTEES REPORT AND ACCOUNTS**
**30 June 2021**
**BEAUTIFUL MIND Financial statement Year ended 30 June 2021**
|**Contents**|**Page**|
|---|---|
|Charity information and professional advisers|3|
|Trustees’ report|4|
|Accountants’ report|7|
|Income statement|8|
|Statement of financial position|9|
|Notes to the financial statements|10|
2
## **BEAUTIFUL MIND Charity Information Year ended 30 June 2021**
|Registered charity name|BEAUTIFUL MIND|
|---|---|
|Charity number|1179490|
|Registered office|1 MATTHEWS LANE
MANCHESTER|
||LANCASHIRE|
||M12 4QW|
|Trustees|Adeyinka Adewumi (Chair)|
||Doris Oyegade|
||Timi Patani|
||Pauline Limen|
|Accountants|BC NWAIWU & CO LTD|
||Building 1 Suit 4A Office 6|
||Wilsons Park Business Centre|
||Manchester|
||M40 8WN|
|Bankers|Lloyds Bank Plc|
3
## **BEAUTIFUL MIND**
## **Trustees’ Report**
## **Year ended 30 June 2021**
The Trustees, present their annual report with the unaudited financial statements of the charity for the year ended 30 June 2021. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" in preparing the annual report and financial statements of the charity.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the Charity's governing document, the Charities Act 2022 and 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 (effective 1 January 2019).
## **Reference and administrative details**
The Charity is a charitable incorporated organisation and was formed on 08 August 2018 as Beautiful Mind.
## **Objectives**
The objects of the charity for the public benefit include;
1. to advance in life and relieve needs of young people by providing support and activities which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals, and.
2. to promote social inclusion for the public benefit by preventing people from becoming socially excluded, relieving the needs of those who are socially excluded and assisting them to integrate into society by helping people to improve their lives and participate actively in society and thrive through their own efforts.
## **Projects**
Projects undertaken during the year include:
## **Christmas In the Box**
Project Christmas In the Box delivered food and essentials to families to alleviate the hardship caused by COVID-19 pandemic during the Christmas season. It helped to keep the Christmas spirit alive, kept the smile on people's faces and combat hunger during the festive season. We delivered over 100 food parcels to those who have no access to public funds affected by COVID-19 in our community. Christmas in the box consisted of Turkey, box of chocolates, shower gel and body wash packs. This project also included ZOOM hangout session introduced for wellbeing of people who spent Christmas alone.
4
**BEAUTIFUL MIND Trustees’ Report**
## **Year ended 30 June 2021**
## **Cheer Up Box**
We provided assistance to single parents, people that lost means of livelihood and families that lost loved ones to covid-19. Over 40 parcels of goodies were delivered by our volunteers to the beneficiaries.
## **Film Night**
This project was to encourage and mobile people in our community to come out and socialise after the pandemic lockdowns. It helped in getting the community moving again. Apart from the movies and popcorns, participant was able to come together to share their lockdown stories and how they coped in a friendly atmosphere.
## **Covid – 19 BAME Relief (X2)**
We supported BAME family members of our community who were affected by coronavirus restrictions or have lost jobs and going through hardship by delivering food parcels to their doorstep. Over 200 BAME members of our community benefited from the project.
## **Public Benefit**
The board of trustees have given due consideration to Charity Commission’s published guidance on the operation of the public benefit requirement and confirm that these requirements are met by the charity.
## **Going concern**
The trustees have assessed the ability of the charity to continue operating and discharging its role for the foreseeable future, and have made financial projections, taken into consideration the current economic climate because of Coronavirus (COVID-19) crisis and its potential impact on the various sources of income and planned expenditure. We have adequate financial resources and are able to manage our business risks.
## **Statement of responsibilities of the trustees**
The trustees are required to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and the incoming resources and application of resources, including the net income or expenditure, of the charity for the year. In preparing those financial statements the trustees are required to:
- select suitable accounting policies and then apply them consistently;
5
**BEAUTIFUL MIND Trustees’ Report Year ended 30 June 2021**
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2022.
Adeyinka Adewumi Chair of Trustees
6
**Accountant’s report For the period ended 30 June 2021**
## **BEAUTIFUL MIND**
## **Accountants' report to the board of trustees on the preparation of the unaudited statutory accounts of Beautiful Mind for the period ended 30 June 2021.**
In order to assist you to fulfil your duties under the Charity Act 2022, we have prepared for your approval the accounts of Beautiful Mind for the period ended 30 June 2021 which comprise of the Statement of financial activities (incorporating income & expenditure account), the Balance Sheet and the related notes from the charity’s accounting records and from information and explanations you have given us.
This report is made solely to the Trustees of Beautiful Mind, as a body, in accordance with the terms of our engagement dated 28[th] March 2022. Our work has been undertaken solely to prepare for your approval the accounts of Beautiful Mind and state those matters that we have agreed to state to the Trustees of Beautiful Mind, as a body, in this report to the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Beautiful Mind and its Trustees as a body for our work or for this report.
It is your duty to ensure that Beautiful Mind has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position of Beautiful Mind. You consider that Beautiful Mind is exempt from the statutory audit/independent examination requirement for the period.
We have not been instructed to carry out an audit/independent examination or a review of the accounts of Beautiful Mind. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
________________________
## BC NWAIWU & CO LTD
Building 1 Suit 4A Office 6 Wilsons Park Business Centre Manchester M40 8WN
Date: 29 March 2022
7
## **BEAUTIFUL MIND**
## **Income Statement**
## **For the period ended 30 June 2021**
|Note
**Income from**:
Donations and legacies
2
Charitable activities
3
**Total income**
**Expenditure on**:
charitable activities
4
**Total expenditure**
**Net income/(expenditure)**
**for the year**
5
Transfer between funds
Net movement in funds for
the year
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**|Unrestricted
£
150
-
**150**
150
**150**
-
-
-
650
**650**|Restricted
£
-
10,000
**10,000**
8,840
**8,840**
1,160
-
1,160
-
**1,160**|2021
£
150
10,000
**10,150**
8,990
**8,990**
1,160
-
1,160
650
**1,810**|2020
£
200
6,350|
|---|---|---|---|---|
|||||**6,550**|
|||||6,400|
|||||**6,400**|
|||||150
-|
|||||150
500|
|||||**650**|
The notes on pages 10 to 14 form part of these financial statements
8
## **BEAUTIFUL MIND**
## **Statement of Financial Position As at 30 June 2021**
|**Note**
**Fixed assets**
Tangible assets
6
Total fixed assets
**Current assets**
Cash at bank and in hand
7
Debtors
8
Total current assets
**Liabilities**
Creditors -_Amount falling due_
_within one year_
9
**Net current assets**
**Total assets less current**
**liabilities**
Creditors -_Amount falling due_
_after more than one year_
10
**Net assets**
**Funds of the charity:**
Unrestricted funds
11
Restricted funds
11
**Total charity funds**|£
1,623
-
1,623
(150)|2021
£
337
337
**1,473**
1,810
-
**1,810**
650
1,160
**1,810**|£
800
-
800
(150)|2000
£
-|
|---|---|---|---|---|
|||||-
**650**|
|||||650
-|
|||||**650**|
|||||650
-|
|||||**650**|
Adeyinka Adewumi Chair of Trustees
Approved by the board on 29 March 2022
The notes on pages 10 to 14 form part of these financial statements
9
**BEAUTIFUL MIND Notes to the Financial Statements For the period ended 30 June 2021**
## 1. **Accounting Policies**
The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
## a. **Basis of preparation**
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019) - (Charities SORP (FRS102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102).
Beautiful Mind meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
## b. **Judgments and estimates**
The trustees have made no key judgments which have a significant effect on the accounts. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next reporting period.
## c. **Going concern**
The trustees have reviewed the charity's forecasts and projections and with the lifting of the Coronavirus (COVID-19) lockdown and social distancing restrictions, the trustees are confident that the charity can fulfil its commitments to its beneficiaries for the period ending 30 June 2022.
## d. **Fund accounting**
Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are grants and donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.
## e. **Income**
The Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received, and the amount can be measured reliably.
10
## **BEAUTIFUL MIND**
## **Notes to the Financial Statements**
## **For the period ended 30 June 2021**
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 a provision of a specified service is deferred until the criteria for income recognition are met.
## f. **Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
- Expenditure on charitable activities includes all costs undertaken to further the purposes of the charity and their associated support costs.
- Finance costs includes all interest and other costs the charity incurs in connection with the borrowing of funds.
## g. **Tangible fixed assets**
All expenditure of a capital nature on development work overseas is expensed as incurred, while tangible fixed assets in the UK costing more than £100 are capitalized and included at cost, including any incidental expenses of acquisition. Depreciation is provided on tangible fixed assets at rates calculated to write off the cost by equal annual instalments over their expected useful economic lives as follows:
|Freehold land and buildings|Nil|
|---|---|
|Computer infrastructure|5 years|
|Computer equipment|4 years|
|Furniture, fixtures and equipment|4 years|
Impairment reviews are conducted when events and changes in circumstances indicate that an impairment may have occurred. If any asset is found to have a carrying value materially higher than its recoverable amount, it is written down accordingly.
## h. **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.
11
## **BEAUTIFUL MIND Notes to the Financial Statements For the period ended 30 June 2021**
## i. **Cash at bank and in hand**
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## j. **Creditors and provisions**
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
|2.**Donations and legacies**
Donations
Other income
**Total**
3.**Charitable activities**
**Grants**
Greater Manchester GMMH MWF
Manchester Alliance SOMF
Global Vision In
Greater Manchester Centre for
Voluntary Organisation (GMCVO)
Greater Manchester Centre for
Voluntary Organisation (GMCVO)
Church Urban Near Neighbours
Forever Manchester
Manchester City Council
**Charitable trading**
Charity sales
Support services
**Total income from charitable**
**activities**|Unrestricted
£
150
-
150
Unrestricted
£
-
-
-
-
-
-
-
-
-
-
-
-
-|Restricted
£
-
-
-
Restricted
£
500
500
1,000
1,000
3,000
4,000
-
-
10,000
-
-
-
10,000|2021
£
150
-
150
2021
£
500
500
1,000
1,000
3,000
4,000
-
-
10,000
-
-
-
10,000|2020
£
200
-|
|---|---|---|---|---|
|||||200|
|||||2020
£
-
-
-
730
-
5,000
620|
|||||6,350|
|||||-
-|
|||||-|
|||||6,350|
12
## **BEAUTIFUL MIND**
## **Notes to the Financial Statements For the period ended 30 June 2021**
|4.
**Expenditure on charitable activities**
Staff cost
Project costs
Depreciation
Professional fees
Governance costs
Support costs
Restricted expenditure
Unrestricted expenditure
5.
**Net income/(expenditure) for the year**
This is stated after charging/(crediting):
Depreciation
6.
**Fixed assets: tangible assets**
Land
and
Buildings
£
**Cost**
At 1 July 2020
-
Additions
-
At 30 June 2021
-
**Depreciation**
At 1 July 2020
-
Charge for the year
-
At 30 June 2021
-
**Net book value**
At 30 June 2021
-
At 1 July 2020
-|Fixtures
and
fittings
£
-
-
-
-
-
-
-
-||2021
£
-
6,888
112
-
150
1,840
8,990
8,840
150
8,990
2021
£
112
Computer
equipment
£
-
449||2020
£
-
4,310
-
370
150
1,570
6,400
4,160
2,240
6,400
2020
£
-
Total
£
-
449|
|---|---|---|---|---|---|
|||||||
|||||||
|||||||
|||||||
|||||||
||||449||449|
||||-
112||-
112|
||||112||112|
||||337||337|
||||-||-|
13
**BEAUTIFUL MIND**
## **Notes to the Financial Statements**
## **For the period ended 30 June 2021**
|7.|**Cash at bank and in hand**||||2021||2020||
|---|---|---|---|---|---|---|---|---|
||||||£||£||
||Cash at bank||||1,623||800||
||Cash in hand||||-||-||
||||||1,623||800||
|8.|**Debtors**||||2021||2020||
||||||£||£||
||Trading debtors||||-||-||
||Grant debtors||||-||-||
||Prepayments||||-||-||
||||||-||-||
|9.|**Creditors****_- Amount falling_**|**_due within one year_**|||2021||2020||
||||||£||£||
||Accountancy fee||||150||150||
||||||150||150||
|10.|**Creditors****_- Amount falling_**|**_due after more than one year_**|||2021||2020||
||||||£||£||
||Trade creditors||||-||-||
||Other creditors||||-||-||
||||||-||-||
|||Balance||||||As at 30|
|11.|**Fund movements**|at 1 July|Income|Expenditure||Transfers||June|
|||2020||||||2021|
|||£|£||£|£||£|
||**Restricted funds**||||||||
||Restricted project fund|-|10,000|(8,840)||||1,160|
|||-|10,000|(8,840)||-||1,160|
||**Unrestricted funds**||||||||
||General fund|650|150|(150)||||650|
|||650|150|(150)||-||650|
||**Funds of the charity**|650|10,150|(8,990)||-||1,810|
14