Registered Charity Number 1179490
BEAUTIFUL MIND
TRUSTEES REPORT AND ACCOUNTS
30 June 2023
BEAUTIFUL MIND Financial statement Year ended 30 June 2023
| Contents | Page |
|---|---|
| Charity information and professional advisers | 3 |
| Trustees’ report | 4 |
| Accountant’s report | 6 |
| Income statement | 7 |
| Statement of financial position | 8 |
| Notes to the financial statements | 9 |
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BEAUTIFUL MIND Charity Information Year ended 30 June 2023
Registered charity name BEAUTIFUL MIND Charity number 1179490 Registered office 1 MATTHEWS LANE MANCHESTER LANCASHIRE M12 4QW Trustees Funmilayo Adefila (Chair) Pauline Limen Timi Patani Independent Examiner BC NWAIWU & CO LTD Building 1 Suit 4A Office 6 Wilsons Park Business Centre Manchester M40 8WN Bankers Lloyds Bank Plc
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BEAUTIFUL MIND Trustees’ Report Year ended 30 June 2023
The Trustees, present their annual report with the unaudited financial statements of the charity for the year ended 30 June 2023. 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;
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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.
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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.
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 the cost-of-living crises and its potential impact on the various sources of income and planned expenditure. The trustees are confident that the charity can fulfil its commitments to its beneficiaries for the period ending 30 June 2024.
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BEAUTIFUL MIND Trustees’ Report Year ended 30 June 2023
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:
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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 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 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.
Funmilayo Adefila Chair of Trustees
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Accountant’s report
BEAUTIFUL MIND
For the period ended 30 June 2023
Accountants' report to the board of trustees on the preparation of the unaudited statutory accounts of Beautiful Mind for the period ended 30 June 2023.
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 2023 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] May 2024. 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: 10 June 2024
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BEAUTIFUL MIND
Income Statement
For the period ended 30 June 2023
| 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 £ 200 1,800 2,000 200 200 1,800 - 1,800 (420) 1,380 |
Restricted £ - 15,775 15,775 15,890 15,890 (115) - (115) 326 211 |
2023 £ 200 17,575 17,775 16,090 16,090 1,685 - 1,685 (94) 1,591 |
2022 £ 500 32,500 |
|---|---|---|---|---|
| 33,000 | ||||
| 34,904 | ||||
| 34,904 | ||||
| (1,904) - |
||||
| (1,904) 1,810 |
||||
| (94) |
The notes on pages 9 to 14 form part of these financial statements
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BEAUTIFUL MIND
Statement of Financial Position As at 30 June 2023
| 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 The funds of the charity: Unrestricted funds 11 Restricted funds 11 Total charity funds |
£ 1,601 - 1,601 (200) |
2023 £ 190 190 1,401 1,591 - 1,591 1,380 211 1,591 |
£ 3 - 3 (350) |
2022 £ 253 |
|---|---|---|---|---|
| 253 (347) |
||||
| (94) - |
||||
| (94) | ||||
| (420) 326 |
||||
| (94) |
Funmilayo Adefila Chair of Trustees
Approved by the board on 10 June 2024
The notes on pages 9 to 14 form part of these financial statements
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BEAUTIFUL MIND Notes to the Financial Statements For the period ended 30 June 2023
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. 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.
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.
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BEAUTIFUL MIND Notes to the Financial Statements For the period ended 30 June 2023
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:
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Expenditure on charitable activities includes all costs undertaken to further the purposes of the charity and their associated support costs.
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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.
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.
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BEAUTIFUL MIND Notes to the Financial Statements For the period ended 30 June 2023
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 NHS Greater Manchester Natwest MFT Greater Manchester Centre for Voluntary Organisation (GMCVO) Greater Manchester Centre for Voluntary Organisation (GMCVO) Church Urban Near Neighbours National Lottery Community Fund Arnold Clark Arnold Clark Manchester City Council Manchester City Council Forever Manchester NHS Manchester CCG BHA Charitable trading Charity sales Support services Total income from charitable activities |
Unrestricted £ 200 - 200 Unrestricted £ - 1,800 - - - - - - - - - - - 1,800 - - - 1,800 |
Restricted £ - - - Restricted £ 1,000 1,800 2,400 6,800 - - - - 2,500 - 1,000 75 200 15,775 - - - 15,775 |
2023 £ 200 - 200 2023 £ 1,000 3,600 2,400 6,800 - - - - 2,500 - 1,000 75 200 17,575 - - - 17,575 |
2022 £ 500 - |
||||
|---|---|---|---|---|---|---|---|---|
| 500 | ||||||||
| 2021 £ - - - 900 - 10,000 250 2,500 5,000 5,000 1,000 7,700 150 |
||||||||
| 32,500 | ||||||||
| - - |
||||||||
| - | ||||||||
| 32,500 |
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BEAUTIFUL MIND
Notes to the Financial Statements For the period ended 30 June 2023
| 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 2022 - Additions - At 30 June 2023 - Depreciation At 1 July 2022 - Charge for the year - At 30 June 2023 - Net book value At 30 June 2023 - At 1 July 2022 - |
2023 £ 4,600 3,350 63 3,537 200 4,340 |
2022 £ 880 21,337 84 3,295 350 8,957 34,904 34,554 350 34,904 2022 £ 84 Computer equipment Total £ £ 449 449 - - 449 449 196 196 63 63 259 259 190 190 253 253 |
2022 £ 880 21,337 84 3,295 350 8,957 34,904 34,554 350 34,904 2022 £ 84 Computer equipment Total £ £ 449 449 - - 449 449 196 196 63 63 259 259 190 190 253 253 |
|---|---|---|---|
| 16,090 | |||
| 15,890 200 |
|||
| 16,090 | |||
| 2023 £ 63 |
|||
| Fixtures and fittings £ - - - - - - - - |
|||
| 449 | |||
| 196 63 |
|||
| 259 | |||
| 190 | |||
| 253 |
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BEAUTIFUL MIND
Notes to the Financial Statements For the period ended 30 June 2023
| 7 Cash at bank and in hand Cash at bank Cash in hand 8 Debtors Trading debtors Grant debtors Prepayments 9 Creditors- Amount falling due within one year Accountancy fee 10 Creditors- Amount falling due after more than one year Trade creditors Other creditors |
2023 £ 1,601 - 1,601 2023 £ - - - - 2023 £ 200 200 2023 £ - - - |
2022 £ 3 - |
|---|---|---|
| 3 | ||
| 2022 £ - - - |
||
| - | ||
| 2022 £ 350 |
||
| 350 | ||
| 2022 £ - - |
||
| - |
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BEAUTIFUL MIND
Notes to the Financial Statements For the period ended 30 June 2023
| 11. Fund movements Restricted funds Restricted project fund Unrestricted funds General fund The funds of the charity |
Balance at 1 July 2022 £ 326 326 (420) (420) (94) |
Income £ 15,775 15,775 2,000 2,000 17,775 |
Expenditure £ (15,890) (15,890) (200) (200) (16,090) |
As at 30 June 2023 £ 211 |
|---|---|---|---|---|
| 211 1,380 |
||||
| 1,380 | ||||
| 1,591 |
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