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2023-03-31-accounts

Company number: 11189840 (England and Wales) Charity Number: 1181637 (England)

MindSpace (Stamford) Ltd

Report and financial statements For the year ended 31[st] March 2023

MindSpace (Stamford) Ltd

Contents

For the year ended 31[st] March 2023

Reference and administrative information ...................................................................................... 1 Trustees’ annual report .................................................................................................................. 2 Independent examiner’s report .................................................................................................... 12 Statement of financial activities (incorporating an income and expenditure account) ................... 13 Balance sheet ............................................................................................................................... 14 Notes to the financial statements ................................................................................................. 15

MindSpace (Stamford) Ltd Reference and administrative information

For the year ended 31[st] March 2023

Company number 11189840 Country of incorporation United Kingdom Charity number 1181637 Country of registration (England & Wales, Scotland or Northern Ireland) Registered office and 39 Broad Street, Stamford, Lincolnshire, PE9 1PX operational address Trustees Trustees, who are also directors under company law, who served during the year and up to the date of this report were as follows: Rebecca Avery Chair Dr Dan Petrie Vice Chair Adam O’Hara Treasurer Mary Dowglass Helen Howe Zoe McKeague Sue Parslow Stefan Rakowski Alison Toomey Bankers Metrobank One Southampton Row London WC1B 5HA Independent Richard King examiner PSF Accounting 60 Queens Street Stamford PE9 1QS

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MindSpace (Stamford) Ltd

Trustees’ annual report

For the year ended 2023

The trustees (who are also the Directors of the Company for the purposes of company law) are pleased to present their report and the financial statements for the year ended 31[st ] March 2023.

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association, the requirements of a directors’ report as required under company law, and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

Objectives and activities

Purposes and aims:

Mindspace (Stamford) is a charity situated in Stamford town centre offering access to spaces and activities that enable and support positive wellbeing. The work of the charity is aligned with the NHS endorsed ‘5 ways to wellbeing’ and allow participants to connect, be active, give, be mindful by taking notice in the moment and to learn something new. We work in close partnership with other community and statutory organisations to enable effective signposting towards complimentary support services including medical mental health interventions.

The charity’s objects are:

MindSpace (Stamford) applies the principles of Asset Based Community Development (ABCD) to shaping mental wellbeing services for everyone living, working and learning within Stamford and the surrounding villages. This means that rather than seeking to implement new services as our primary response to need, we seek to understand and collaborate to enhance the resources people can already draw upon, but which may be being underutilised. By recognising the spaces, activities, opportunities, knowledge and support networks that already exist, we are able to deliver a holistic and sustainable, community-based wellbeing offer that is free for anyone to access. Where community consultation highlights that there is a gap in provision, MindSpace is able to proactively work together with community experts to shape the support that’s missing. This means working with the local mental health trust, primary care networks, schools, businesses and other community groups.

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MindSpace (Stamford) Ltd

Trustees’ annual report

For the year ended 2023

MindSpace realises the importance of having safe spaces that offer opportunities to talk and be listened to. Central to our work is the promotion of the power of genuine and effective listening. Listening is embedded throughout the charities programme with volunteers encouraged to be trained as listeners. One to one listening sessions can be requested during any of our sessions and some bookable sessions are available two evenings per week. Anyone can take part in our activities on a donate what you can basis, the aim being to eliminate cost as a barrier to accessing wellbeing enhancing opportunities.

Our ambition goes beyond our hub and the activities that MindSpace offers; our goal is to embed enhanced listening skills and knowledge about the importance of maintaining positive wellbeing day to day throughout our town. Our model is simple and based on being a ‘wellbeing’ role-model to our community and sharing key messages in an easy and accessible way through training. We seek to support local people at each life and learning stage. By working through schools, we can embed these skills early in people’s lives; by working through businesses, we can ensure mentally well workplaces. Through community groups we can work with active citizens. The aim is to empower friends, family, neighbours teachers and colleagues to talk and listen more empathically and openly with one another. We believe this will increase the capacity of the community to support individuals when they notice their wellbeing is low or when they experience challenging moments and decrease reliance on primary health services as the first stop on the mental health support journey.

Our vision

To improve the wellbeing of everyone living, working and learning in Stamford through a community approach.

At MindSpace, people are:

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MindSpace (Stamford) Ltd

Trustees’ annual report

For the year ended 2023

Our aims

We aim to support those living, learning and working in Stamford and the surrounding villages to achieve and sustain positive wellbeing through the delivery of a community-informed and community-led programme of support, activities and education. A well as delivering a diverse offer of wellbeing support aligned to the NHS 5 ways to wellbeing’, through strategic partnerships and a community education offer we also aim to achieve a shift in the perceptions of, and experiences of, mental health and wellbeing support. Our ultimate goal is for everyone in our town to experience positive mental wellbeing by living in a community where its citizens are better connected through caring and resilient networks, are skilled in effective listening and are aware of what is on offer to support their own, and others’, mental wellbeing outside of medicalised referral routes.

Ensuring our work delivers our aims

In addition to quarterly board meetings and being closely involved in the day to day running of the charity, the trustees review the aims, objectives, and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The trustees report the success of each key project and activity delivered, highlighting the benefits brought to the people who the charity was set up to help. The review also helps the trustees ensure the charity's aims, objectives and activity delivery remained aligned to its stated purposes.

Public Benefit Statement

The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities and development of the charity will contribute to the aims and objectives that have been set.

The strategies we used to achieve these objectives included:

The focus of our work

Development of our team:

The 2022/23 financial year has been an important year for the strategic development and growth of the charity. With the demand for our wellbeing services ever increasing, Trustees have recognised the need to invest in the development of an employed workforce where previously it has commissioned contractors to deliver specific grant funded projects. Following a successful application to the Suicide Prevention Fund (Wave 1), MindSpace was able to employ a Host

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MindSpace (Stamford) Ltd

Trustees’ annual report

For the year ended 2023

administrator in June on an initial one-year contract. The purpose of the Host Administrator role is to ensure that there is a presence at our hub in Stamford five days per week. This has meant greater accessibility to wellbeing services and advice because people can drop in or call MindSpace throughout the week. The host is there to welcome people and support activity sessions as needed. They are a trained listener, a mental health first aider and have undertaken additional professional development pertinent to the role. Our Host Administrator also undertakes core administration duties on behalf of the charity including bookings, event and activity organising, financial administration, maintaining our hub and ensuring the safe delivery of high quality wellbeing positive activities. The success of this role is demonstrated through the increased number of people who have taken part in activities offered by MindSpace this year as well as the growth in what is on offer.

In November, using grant funding awarded from the Fore Trust alongside income generated through fundraising activities, MindSpace recruited to the role of People and Operations lead. The main purpose of the People and Operations lead is to work with MindSpace Trustees to ensure the effectiveness and long-term sustainability of the charity. Through partnership working, our People and Operations lead works to identify potential donors as well as opportunities for fundraising activity or for grant-funding to be sought to enable the delivery of projects and activities that will enhance the well-being of everyone in Stamford. Where gaps have identified the post holder has been involved in identifying community assets that can be enhanced to meet the community need and has undertaken project planning through to final reporting and project conclusion.

MindSpace Community Wellbeing Garden:

In July 2022, MindSpace officially opened a Community Wellbeing Garden in Stamford. This garden has been designed and constructed by a team of dedicated and knowledgeable volunteers and enabled by donations from local organisations and individuals. The vision for the garden has been laid out and guided by the Garden Steering Group, who are all volunteers.

The gardens are free to enter and we hope they provide a safe and welcoming place that our community can visit, enjoy and make use of. The plans for the garden are still evolving but the wellbeing garden aims to offer:

We have been very grateful for the support of many organisations, teams and individuals as we worked towards creating our MindSpace Wellbeing Garden. Although there is still a long way to go we can now start to enjoy the progress made.

Delivering services in partnership:

Community Connector

Across the 2022/23 financial year MindSpace has successfully delivered year 1 of the Community Connector contract. This was awarded to MindSpace as part of the Lincolnshire Community Mental

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MindSpace (Stamford) Ltd

Trustees’ annual report

For the year ended 2023

Health transformation and is delivered in partnership with Shine Lincolnshire, whom MindSpace subcontract to provide employment services and training for this particular role. The Community Connectors are responsible for working in partnership with NHS colleagues and voluntary organisations together with members of the community who have been identified as having the drive, enthusiasm and local knowledge to help bring about change. Our community connector has developed services available in the four counties primary care network area and has identified the need for additional provision in the following areas:

  1. Effective sharing of local information

  2. Housing Support

  3. Dementia Cafes

  4. A group for older people in Bourne

In addition, our community connector has started a co-production group to inform the development of mental health support services locally and has established the Stamford and Bourne Partnership Group.

Citizens Advice

Using grant funding awarded through the Managed Care Network (Wave 12), MindSpace, in collaboration with Citizens Advice South Lincolnshire, employed a dedicated advisor to be based at our hub in Stamford. During his first quarter based with MindSpace, our advisor was able to support 46 individuals with advice and guidance on matters relating to disability payments, housing and debt management. Services were offered across a mix of bookable appointments and ‘drop-in’ clinics. This represented a new way of delivery Citizens Advice services through an advisor who is embedded as part of a wider team and able to support individuals on an on-going basis. Alongside practical support, attendees were able to access wellbeing services to help mitigate the impact of the stress and anxiety being experienced alongside their other support needs.

Who used and benefited from our services?

Our charity’s objects afford us a broad geographical reach but the main focus of our work is on the town of Stamford and the villages that immediately surround it. Stamford is a growing historic market town known for its beauty which promotes a vision of wealth and prosperity. This is a common misconception, in reality, some areas are ranked within the 4[th] lowest decile on the Index of Multiple Deprivation where the risks of poor physical and mental health are high. Four of the five wards highlighted as ‘deprived’ within South Kesteven are within Stamford.

Our services are open to any adult living in the area and we target the promotion of the opportunities we are able to provide towards young adults aged 18+ right up towards those of retirement age and older.

Our focus remains on maintaining and improving mental wellbeing and whilst we recognise that many of the people who access our support have a diagnosed mental health condition, this is not

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MindSpace (Stamford) Ltd

Trustees’ annual report

For the year ended 2023

a requisite of participation. Our goal is to support people in the hope that their poor mental wellbeing does not escalate towards a diagnosable mental health condition.

Equal access to our services is important to us and we aim to remove, as far as funding allows, cost as a barrier to participation.

Throughout this financial year, MindSpace has maintained a core programme of 30 different activity sessions which has included Tea and Chat sessions, boxing and yoga. This year our offering has expanded to include foraging walks and garden-based activities in the warmer months. Across our programme there have been 4,708 check in’s by 836 unique individuals.

All of these sessions are enabled by our team of dedicated volunteers who undertake a thorough induction and are given access to training and development opportunities. This year our development offer included ASIST (Applied Suicide Intervention Skills Training) which was delivered by CPSL Mind. At the end of this yeah MindSpace was grateful to be supported by 54 active volunteers. This means those that were trained and regularly supporting activities and sessions delivered by the charity.

Financial review

Our principal activities rest on the foundations of promoting practical ways to achieve, and maintain, a positive mental wellbeing and providing an offer of support within our community. Despite the challenges faced by the charity during the coronavirus pandemic and economic uncertainty, the result for the period was a surplus of £63,308 showing the actions taken by the trustees ensured the surplus generated for the period provides a robust footing for the future.

Total income increased by 113% on the prior period to £86,946 resulting in total expenditure increasing by 81% meaning there is a surplus for the period of £63,308 representing an increase of 227% on the prior period. The surplus of £63,308 for the period is £18,846 unrestricted which can be used at the trustees’ discretion in furtherance of the charity’s objectives and £44,462 of restricted, which is to be used for specific purposes as prescribed by the donor.

Total income was bolstered in main through restricted grant funding which saw an increase of £87,167 on the prior period to £126,078. Although, the charity still held fundraising events raising donations of £51,752 – an increase of £11,364 on the previous year.

The charity ensured that total expenditure was tightly controlled and as such, despite the significant uplift in income, there was a relatively lower increase in expenditure.

The surplus for this period results in a total reserves balance of £106,957. Restricted funds representing a higher proportion than last year at 51% (£86,837) and unrestricted funds of £83,428.

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MindSpace (Stamford) Ltd

Trustees’ annual report

For the year ended 2023

This financial period has enabled the charity to create a solid foundation which will be required to support the increased operating costs of the premises, including lease costs and the increased salary expenditure.

Plans for the future

In 2023/24 MindSpace Trustees aim to continue to expand the offer of wellbeing support available to the Stamford (and surrounding villages) community. Alongside this, we will continue in our aims to diversify attendance at our support services and broaden the reach of our offer as well as knowledge and understanding about the NHS 5-Ways to Wellbeing and the power of listening. Ensuring effective use of our community hub premises will remain a priority and Trustees will seek to develop a plan that ensures its long-term sustainability.

As the NHS Community Mental Health Transformation continues to be implemented and to progress, Trustees will aim to ensure that MindSpace remains an important partner and fulfils it’s commitment to advocate on behalf of our beneficiaries and wider community. Our aspiration is to be formally recognised as a Community Well-being Hub which will bring with it additional funding to enable on-going investment and development of wellbeing services in Stamford and the surrounding area. Ensuring effective referrals into the support offered by MindSpace will be a key priority for our People and Operations Lead, as will strengthening our knowledge of, and partnership working with other charities and organisations.

The development of a team at MindSpace who are employed by the charity means that our financial commitments have increased. As grant funding terms come to an end, MindSpace will be focusing on how to sustain the charities infrastructure and services through the development of regular giving and fundraising strategies. A key focus will be on the development of wellbeing training and consultation services that can be offered to local businesses and employing organisations in return for a suggested donation.

Principal risks and uncertainties

The principal risks to which the charity is exposed, as identified by the trustees, have been reviewed and measures put in place to mitigate these risks. All activities undertaken are subject to their own risk assessment process.

The charity has prioritised the need to secure sufficient funding to maintain the town centre premises for the full term of the new lease signed in February 2021.

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MindSpace (Stamford) Ltd

Trustees’ annual report

For the year ended 2023

Reserves policy and going concern

Our reserves policy is designed to reflect the underlying risks facing MindSpace (Stamford) and ensure we have an appropriate level of reserves to safeguard our operations and services to our members.

We hold restricted funds to meet donor’s requirements. We hold unrestricted funds which can be used at the trustees’ discretion in furtherance of the charity’s objectives.

Although the charity within this period did not operate a formal designated funds policy where unrestricted funds are earmarked by the trustees for particular purposes, the trustees agreed that any unrestricted reserves surplus needs to be directed towards supporting the operating costs of the premises, including lease costs.

It is envisaged that during the next financial period the trustees will agree to formalise a designated funds policy.

Structure, governance and management

Governing Document

The organisation is a charitable company limited by guarantee. Memorandum and articles incorporated on 6[th] February 2018 as amended by special resolution(s) dated 15[th] March 2018 and as registered at Companies House on 21[st] March 2018 as amended by special resolutions(s) dated 13[th] September 2018 as registered at companies house’ 26[th] September 2018. It was registered as a charity on 18[th] January 2019.The charity is governed under its charitable objects. In the event of the company being wound up members are required to contribute an amount not exceeding £1.

All trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 6 to the accounts.

Appointment of trustees

The power to appoint new trustees is vested in the trustees. The trustees normally meet quarterly at which point trustees may resign and be appointed.

Trustees are sought through an open, public process whereby individuals with the essential and appropriate skills sought by the charity and who are representative of the community we serve are invited to a general information session after which they are encouraged to submit an expression of interest and meetings are arranged with existing trustees to explore their skill set.

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MindSpace (Stamford) Ltd

Trustees’ annual report

For the year ended 2023

Trustee induction and training

Most trustees are already familiar with the work that the charity undertakes having been invited to attend one of our weekly tea and chat sessions and to participate in our programme of activity wherever possible before submitting an expression of interest in the role.

In the period between submitting their expression of interest and being formally assigned as a trustee, we invite attendance at meetings relevant to their area of expertise as an observer.

On appointment, all trustees must undertake the volunteer induction which is an essential requirement for any volunteer looking to work with us. They will then be invited to have induction sessions with all existing trustees and contractors across all functions of the board to familiarise themselves with the charity and the context within which it operates.

An induction folder holding all key documents has been created and is shared with new trustees. As members of NCVO, MindSpace (Stamford) is able to provide access for new trustees to a number of training sessions and anyone newly appointed to a trustee role is encouraged to undertake an e-learning module on the role and duties of a trustee.

Related parties and relationships with other organisations

MindSpace Stamford Ltd do not have any related parties.

In so far as it is complementary to the charity’s objects, the charity is guided by both local and national policy which has an increasing focus on the importance of community-based support for people with mental health needs and on promoting and supporting preventative strategies to reduce numbers of referrals to secondary services. To that end MindSpace Stamford Ltd work with the local mental health trust: Lincolnshire Partnership Foundation Trust; Shine Lincolnshire which aims to support people with poor mental health to live well through accessing a range of community services and Cambridgeshire, Peterborough and South Lincolnshire Mind in addition to working in collaboration with a number of small, local organisations.

Statement of responsibilities of the trustees

The trustees (who are also directors of Mindspace (Stamford) Ltd for the purposes of company law) are responsible for preparing the trustees’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

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MindSpace (Stamford) Ltd

Trustees’ annual report

For the year ended 2023

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The 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.

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The total number of such guarantees at 31 March 2023 was £9 (2022: £9). The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

The trustees’ annual report has been approved by the trustees on 29[th] November 2023 and signed on their behalf by

Rebecca Avery Chair of Trustees

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Independent examiner’s report

To the trustees of

MindSpace (Stamford) Ltd

Independent Examiners' Report to the Trustees

We report on the accounts of the charity for the year ended 31st March 2023 which are set out on pages 13 to 23.

Responsibilities and basis of report

We report to the trustees on our examination of the accounts of the above charity (“the Trust”) for the year ended 31st March 2023.

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”).

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

Independent examiner's statement

We have completed our examination. We confirm that no material matters have come to our attention in connection with the examination which gives us cause to believe that in, any material respect:

We 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.

Signed

Date: 30/11/2023 Richard King ACCA PSF Accounting Stamford PE9 2QQ

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MIndSpace (Stamford) Ltd

Statement of financial activities (incorporating and income and expenditure account)

For the year ended 2023

Notes
Income from:
Donations and legacies
3
Charitable activities
4
Total Income
Expenditure on:
Charitable activities
5
Net income for the year/
Net movement in funds
Opening Balance as at
1 April 2022
Fund balances as at
31 March 2023		 Unrestricted
funds
2023
£
51,752
6,647
58,399
39,553
18,846
64,582
83,428		 Restricted
funds
2023
£
1,000
126,078
127,078
82,616
44,462
42,375
86,837		 Total
2023
£
52,752
132,725
185,477
122,169
63,308
106,957
170,265		 2022
£
41,388
45,558
86,946
67,611
19,335
87,622
106,957

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

13

MIndSpace (Stamford) Ltd

Balance Sheet

For the year ended 2023

Notes
Fixed assets
Tangible assets
Current assets
9
Debtors
Cash at bank and in hand
Creditors: amounts falling due
within
one year
10
Net current assets/(liabilities)
Total assets less current
liabilities
Income funds
Restricted funds
11
Unrestricted funds		 2023
£
74,850
96,354
(2,722)		 £
1,783
168,482
170,265
86,837
83,428
170,265		 2022
£
11,496
101,840
(6,379)		 £
-
106,957
106,957
42,375
64,582
106,957

The financial statements on pages 14-21 were approved by the trustees, authorised for issue on the 30/11/2023 and signed on its behalf by;

Adam O’Hara FCCA Trustee

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MIndSpace (Stamford) Ltd

Notes to the financial statements

For the year ended 2023

1 Accounting policies

Charity Information

Mindspace (Stamford) Ltd is a company registered by guarantee without share capital, first registered 6 February 2018.

1.1.

Accounting policies

The accounts have been prepared in accordance with the charity's governing document, the Charities Act 2011 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 {FRS 102)" {as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations, but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2.

Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3.

Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4. Incoming resources

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MIndSpace (Stamford) Ltd

Notes to the financial statements

For the year ended 2023

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount.

1.5. Resources expended

Expenditure is accounted for on an accruals basis.

1.6.

Cash and cash equivalents

Cash and cash equivalents include cash in hand and deposits held with the bank.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of financial activities.

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Donations and legacies

Donations and gifts
Legacies
Total		 Unrestricted
funds
2023
£
51,752
-
51,752		 Restricted
funds
2023
£
1,000
-
1,000		 Total
2023
£
52,752
-
52,752		 Total
2022
£
41,388
-
41,388

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MIndSpace (Stamford) Ltd

Notes to the financial statements

For the year ended 2023

4 Charitable activities

Income within charitable
activities
Performance related grants
Total
Analysis by fund
Unrestricted funds
Restricted funds
Total		 General
Income
2023
£
6,647
-
6,647
6,647
-
6,647		 Projects
Income
2023
£
-
126,078
126,078
-
126,078
126,078		 Total
2023
£
6,647
126,078
132,725
6,536
39,022
45,558		 Total
2022
£
6,536
39,022
45,558
6,536
39,022
45,558

17

MIndSpace (Stamford) Ltd

Notes to the financial statements

For the year ended 2023

5 Charitable activities

Project Expenditure
Contractors
Property & Office Running Costs
Information Systems
Activites & Event Costs
Legal costs
Volunteer Costs
Sundries
Training
Subscriptions
Audit & Accountacy Fees
Interest Paid
Marketing costs
Salaries
Depreciation
Total
Anlaysis by fund
Unrestricted funds
Restricted funds
Total		 General
Expenditure
2023
£
2,200
1,440
21,205
3,140
8,410
0
460
0
935
213
0
4
472
794
280
39,553
39,553
-
39,553		 Projects
Expenditure
2023
£
14,000
20,166
4,438
496
8,758
0
0
0
152
0
0
0
3,129
31,477
0
82,616
-
82,616
82,616		 Total
2023
£
16,200
21,606
25,643
3,636
17,168
0
460
0
1,087
213
0
4
3,601
32,271
280
122,169
39,553
82,616
122,169		 Total
2022
£
6,242
24,368
25,637
2,779
6,096
0
488
838
0
167
0
31
450
515
0
67,611
17,577
50,034
67,611

6 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. No trustees received expenses in relation to their role.

7 Commitments

At the end of the year the charity has committed to a contract amount of £15,000 payable within 1 year and £13,750 over 1 year.

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MIndSpace (Stamford) Ltd

Notes to the financial statements

For the year ended 2023

8 Employees

Number of employees

The average monthly number of employees during the year was 4 (2022: 1).

9 Debtors: amounts falling due within one year

Prepayments
Other debtors
Total		 2023
£
-
74,850
74,850		 2022
£
3,750
7,746
11,496

10 Creditors: amounts falling due within one year

Accruals
Other Creditors
Total		 2023
£
1220
2,602
2,722		 2022
£
627
5,752
6,379

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MIndSpace (Stamford) Ltd

Notes to the financial statements

For the year ended 2023

11 Restricted funds

The income funds of the charity include restricted funds comprising of the following unexpended balances of grants held on trust for specific purposes:

National Lottery Communities Fund
Community Connector
Garden Project
Suicide Prevention
Winter Pressure Warm Spaces
LCC Citizens Advice
The Fore (Spring)
Night Light Café
MCN Mindfulness
Total		 Balance
at 31
March
2022
25,470
0
0
0
0
0
0
7,230
9,675
42,375		 Incoming
resources
0
40,474
1,000
25,000
8,255
9,540
15,000
27,809
0
41,522		 Resources
expended
(25,470)
(1,688)
0
(11,515)
(7,200)
(8,420)
(12,170)
(7,944)
(8,209)
(50,034)		 Balance at
31 March
2023
0
38,786
1,000
13,485
1,055
1,120
2,830
27,095
1,466
86,837

National Lottery Communities Fund – In main, monies to fund a 3[rd] party contractor to deliver a number of Big Lottery supported projects including the Listening Service, Extended Walks and Drop In Café. Funds also provided to purchase office and IS equipment.

Community Connector – Funds to help provide support to members.

Garden Project – Funds to help develop the community garden.

Suicide Prevention – Funds to support a number of activities offered to members.

Winter Warmer Warm Spaces – To help the community pay for heating bills.

20

MIndSpace (Stamford) Ltd

Notes to the financial statements

For the year ended 2023

LCC Citizens Advice – Funds to help provide advice and support to the community.

The Fore Spring Grant – Funds to support and help the Charity grow.

Night Life Café – Monies to provide staff to enable to open the premises in the evenings.

MCN Mindfulness – Funds to support mindfulness in the community.

12 Analysis of net assets between funds

Fund balances at 31 March 2023 are
represented by:
Tangible assets
Current assets/(liabilities)		 Restricted
funds
2023
£
1,783
85,054
86,837		 Unrestricted
funds
2023
£
-
83,428
83,428		 Total
2023
£
-
170,265
170,265		 Total
2022
£
-
106,957
106,957

13 Related party transactions

There were no related party transactions during the 12 month period.

14 Ultimate controlling party

The charity is controlled by the trustees who are also directors of the charitable company.

15 Legal status

The charitable company is a company limited by guarantee and has no share capital. In the event of a winding up, the liability of each existing member is limited to £1.

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