Company number: 11189840 (England and Wales) Charity Number: 1181637 (England)
MindSpace (Stamford) Ltd
Report and financial statements For the year ended 31[st] March 2024
MindSpace (Stamford) Ltd
Contents
For the year ended 31[st] March 2024
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 2024
Company number 11189840 Country of incorporation United Kingdom Charity number 1181637 Country of registration (England & Wales, Scotland or Northern Ireland)
Registered office and operational39 Broad Street, Stamford, Lincolnshire, PE9 1PX 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 | |
|---|---|---|
| Stefan Rakowski | Vice Chair | |
| Adam O’Hara | Treasurer | |
| Daniel Petrie | ||
| Mary Dowglass | ||
| Christopher Young | ||
| Helen Howe | ||
| Zoe McKeague | ||
| Susan 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 |
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 2024.
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MindSpace (Stamford) Ltd
Trustees’ annual report
~~For the year ended 2024~~
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:
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To relieve the needs and to promote the good health of people and their families and carers in the United Kingdom suffering from mental illness and its effects by the provision of emotional and practical support, advice, education and health care in such ways that are charitable in law and for the benefit of the public.
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MindSpace (Stamford) is a catalyst for the development of a Stamford community mental health transformation model. The charity has increasingly realised the importance of the need for spaces and opportunities for people to talk and be genuinely listened to. In an era of increasing social isolation and loneliness there are many people who either don’t have the trusted connections or the language to express feelings, thoughts and emotions.
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.
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.
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MindSpace (Stamford) Ltd
Trustees’ annual report
~~For the year ended 2024~~
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:
o Made to feel welcome
o In a safe place o Non-judgmental
o Diversity is celebrated o Support whenever needed and asked for
o People are able to be themselves: their best (selves) and their vulnerable selves o Accepted and
listened to
o Community is the answer to our wellbeing
o Everyone is empowered to take part, contribute and take action in the best way they can
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.
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MindSpace (Stamford) Ltd
Trustees’ annual report
~~For the year ended 2024~~
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:
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Organised fundraising.
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Promotion of our charities offer, aims and ethos through social and print media - On-going training and development of our trustees, volunteers and contractors - Developing partnerships with statutory and voluntary organisations.
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Analysing data and information to enable our impact to be understood and evidenced.
Headline achievements within our work over 23/24
A Wellbeing Garden Lead:
In April 2023 MindSpace was thrilled to welcome Kay to the team as our Wellbeing Garden Lead. Our ability to employ a team member to develop and support our thriving Wellbeing Garden was enabled by a successful application to Suicide Prevention Wave 3 Fund for a project entitled ‘Grow Together’. The overarching purpose of this project was to introduce a social and therapeutic horticultural offer to Stamford. Social and therapeutic horticulture is the process of using plants and gardens to improve physical and mental wellbeing, as well as developing communication and thinking skills. By launching in the spring, the aim was to encourage people to engage in gardening and the outdoors when the weather gets warmer and brighter in a sociable and relaxed outdoor environment.
Within her first year in this role, our Wellbeing Garden Lead has developed a programme of workshops and skills sessions which have included how to propagate plants, harvest seeds and what to sow when. Other local organisations have also been invited in to lead workshops which have included foraging and ‘bush crafts’. These sessions have been free and open to anyone looking to boost their wellbeing through engaging in growing, gardening and being out in nature. Alongside this programme has been the offering of supported growing spaces. Our allotment plot has been divided up into easily manageable spaces and assigned to participants. In these spaces participants have successfully grow an array of vegetables and flowers. The results have been fantastic and the feedback from participants has demonstrated how, with the support and guidance of our garden lead, mental health can be significantly improved by engaging with our wellbeing garden.
Mercury Business Awards 2023 Team of the Year:
At a ceremony in September 2023, MindSpace was declared team of the year by the Judges. In presenting the aware it was shared that: “The award goes to a contender who has worked tirelessly to create a truly accessible space for the people of Stamford. The fundraising activities are impressive as are the thousands of unique touch points with the people of Stamford. Most Impressive is that this business is set up to save lives and it does. One user said it gives them a reason to wake up in the morning.”
MindSpace Stamford becomes the Wellbeing Hub for the Four Counties PCN
In April 2023, MindSpace was proud to be awarded the Lincolnshire Integrated Care Board (ICB) contract for the Four Counties PCN Wellbeing Hub. Seven Wellbeing Hubs have been established across Lincolnshire as part of the
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MindSpace (Stamford) Ltd
Trustees’ annual report
~~For the year ended 2024~~
Community Mental Health Transformation project. The ICB outline the aims of the Wellbeing Hub offer as being, ‘to provide a community response for people with mental health and wellbeing issues or distress, providing a nonclinical, safe space to support individuals with mental health problems to have choice, understanding, take control of and manage their own mental health, providing alternatives to statutory services and traditional urgent and emergency services .’
When MindSpace was conceived as the ‘Stamford Mental Health Forum’ by Dr Dan Petrie in 2018, it was innovative in recognising that the role of the community was being over looked and underutilised in how mental health support was offered. 5 years on and MindSpace has evidenced the value in this approach and has been a part of helping local services to adapt and be shaped in line with this ethos. MindSpace welcomed the adoption of the Wellbeing Hub model and becoming formally commissioned as one was a natural progression for the charity. We are pleased to be benefiting from statutory funding to secure and enhance our offer which has contributed towards our core premise and staffing costs, enabling our space to be maintained and available for other organisations to benefit from. We have been able to maintain our Host Administrator, which means we are able to be open and accessible five days per week. The contract period is until March 2026 after which time the ICB will review it’s commissioning arrangements for this service.
Delivering services in partnership: Citizens Advice South Lincs at MindSpace
Following the successful initial pilot in 22/23, MindSpace has continued to host a dedicated Citizens Advice Advisor who enables both bookable and drop-in appointments for anyone who needs them. By being based at MindSpace, our advisor has been able to support people on an on-going basis where their circumstances are complex or evolving. It has also enabled the prompt signposting of people from MindSpace into Citizens Advice where they are experiencing declining mental health and wellbeing on account of financial, housing or other ‘life admin’ matters. Those who have accessed Citizens Advice services have similarly been signposted towards wellbeing sessions and activities as an avenue to be supported to manage the impact of the stress that their circumstances are causing. The on-going funding of Citizens Advice at MindSpace has been enabled by a Mental Health and Wellbeing Community Investment Fund Grant.
Delivering services in partnership: Sue Ryder Grief Kind Space
In 2023 MindSpace welcomed one of the first Grief Kind Spaces to be established within England into the hub. These weekly sessions provide peer-to-peer support by those impacted by grief following the death of a loved one. The spaces are volunteer enabled drop-in’s and we were pleased that some of our existing MindSpace volunteers came forward to support this group. Many of our activity participants at MindSpace have experienced a deterioration in their mental health following a loss and so coming together with Sue Ryder to make this important group available made perfect sense.
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 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.
5
MindSpace (Stamford) Ltd
Trustees’ annual report
~~For the year ended 2024~~
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 32 different activity sessions which has included a ‘Playing with words’ session, a New Parents Group and a Group supporting women experiencing Peri Menopause. Each month on average, MindSpace has delivered 88 sessions which have been attended by 393 participants.
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 Mental Health First Aid Training and Listening Training. At the end of this yeah MindSpace was grateful to be supported by 62 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.
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 2024/25 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
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MindSpace (Stamford) Ltd
Trustees’ annual report
~~For the year ended 2024~~
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. 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 listening training and 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.
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.
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MindSpace (Stamford) Ltd
Trustees’ annual report
~~For the year ended 2024~~
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.
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.
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MindSpace (Stamford) Ltd
Trustees’ annual report
~~For the year ended 2024~~
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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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 and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements
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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 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 2024 was £7 (2023: £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.
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MindSpace (Stamford) Ltd
Trustees’ annual report
~~For the year ended 2024~~
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 23[rd] May 2024 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 2024 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 2024.
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:
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the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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the accounts did 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.
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: Richard King ACCA PSF Accounting Stamford PE9 2QQ
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MIndSpace (Stamford) Ltd
For the year ended 2024
Statement of financial activities (incorporating and income and expenditure account)
For the year ended 2024
| Notes Income from: Donations and legacies 3 Charitable activities 4 Total Income Expenditure on: Charitable activities 5 Net income for the year/ Opening Balance as at |
Unrestricted funds 2024 £ 37,862 450 38,312 95,412 ~~(57,100~~) |
Restricted funds 2024 £ - 123,961 123,961 78,126 ~~45,835~~ |
Total 2024 £ 37,862 124,411 162,273 173,538 ~~(11,265~~) |
2023 £ 52,752 132,725 185,477 |
||
|---|---|---|---|---|---|---|
| 122,169 ~~63,308~~ |
||||||
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MIndSpace (Stamford) Ltd
| 1 April 2023 | 83,428 | 86,837 | 170,265 | 106,957 |
|---|---|---|---|---|
| Fund balances as at | ||||
| 31 March 2024 | 26,328 | 132,672 | 159,000 | 170,265 |
| Net movement in funds |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities. Balance Sheet
| 2024 Notes £ Fixed assets Tangible assets Current assets 9 Debtors - Cash at bank and in hand 161,618 Creditors: amounts falling due within (3,855) one year 10 Net current assets/(liabilities) Total assets less current liabilities Income funds |
2023 £ £ 1,237 74,850 96,354 (2,722) 157,763 159,000 |
£ 1,783 168,482 |
|---|---|---|
| 170,265 |
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MIndSpace (Stamford) Ltd
| For theyear ended 2024 | |||
|---|---|---|---|
| Restricted funds | 11 | 132,672 | 86,837 |
| Unrestricted funds | 26,328 | 83,428 |
159,000 170,265
The financial statements on pages 14-21 were approved by the trustees, authorised for issue on the 22/05/2024 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 2024
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
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
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MindSpace (Stamford) Ltd
Notes to the financial statements
For the year ended 2024
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.
1.7. Basic financial assets and liabilities
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.
2 Critical accounting estimates and judgements
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 4 Charitable activities |
Unrestricted funds 2024 £ 37,862 - 37,862 |
Restricted funds 2024 £ - - - |
Total 2024 £ 37,862 - 37,862 |
Total 2023 £ 52,752 - |
|---|---|---|---|---|
| 52,752 |
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MIndSpace (Stamford) Ltd
Notes to the financial statements
For the year ended 2024
| Total Analysis by fund Unrestricted funds Restricted funds Total 5 Charitable activities Income within charitable activities Performance related grants 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 |
450 450 - 450 General Income 2024 £ 450 - General Expenditure 2024 £ 0 8,147 28,302 4,690 11,897 330 169 110 762 0 0 49 3,099 37,311 546 95,412 |
123,961 124,411 - 450 123,961 123,961 123,961 124,411 Projects Total Income 2024 2024 £ £ - 450 123,961 123,961 Projects Expenditure Total 2024 2024 £ £ 42,447 42,447 833 8,980 400 28,702 288 4,978 5,989 17,886 0 330 0 169 0 110 106 868 0 0 0 0 0 49 0 3,099 28,063 65,374 0 546 78,126 173,538 |
123,961 124,411 - 450 123,961 123,961 123,961 124,411 Projects Total Income 2024 2024 £ £ - 450 123,961 123,961 Projects Expenditure Total 2024 2024 £ £ 42,447 42,447 833 8,980 400 28,702 288 4,978 5,989 17,886 0 330 0 169 0 110 106 868 0 0 0 0 0 49 0 3,099 28,063 65,374 0 546 78,126 173,538 |
123,961 124,411 - 450 123,961 123,961 123,961 124,411 Projects Total Income 2024 2024 £ £ - 450 123,961 123,961 Projects Expenditure Total 2024 2024 £ £ 42,447 42,447 833 8,980 400 28,702 288 4,978 5,989 17,886 0 330 0 169 0 110 106 868 0 0 0 0 0 49 0 3,099 28,063 65,374 0 546 78,126 173,538 |
132,725 6,647 126,078 132,725 Total 2023 £ 6,647 126,078 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 |
132,725 6,647 126,078 132,725 Total 2023 £ 6,647 126,078 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 |
|---|---|---|---|---|---|---|
| 78,126 | 173,538 | 122,169 |
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MindSpace (Stamford) Ltd
Notes to the financial statements
For the year ended 2024
| Anlaysis by fund Unrestricted funds Restricted funds Total |
95,412 - 95,412 |
- 78,126 78,126 |
95,412 78,126 173,538 |
39,553 82,616 |
|---|---|---|---|---|
| 122,169 |
- 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 £13,750 payable within 1 year and £0 over 1 year.
- 8 Employees
Number of employees
The average monthly number of employees during the year was 5 (2023: 4).
- 9 Debtors: amounts falling due within one year
| Prepayments Other debtors Total 10 Creditors: amounts falling due within one year Accruals Other Creditors |
2024 £ - - - 2024 £ 3,506 349 |
2023 £ - 74,850 74,850 2023 £ 120 2,602 |
|---|---|---|
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MIndSpace (Stamford) Ltd
Notes to the financial statements
For the year ended 2024
Total 3,855 2,722
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:
| grants held on trust for specific purposes: | ||||
|---|---|---|---|---|
| Four Counties Wellbeing Hub Community Connector Garden Project Suicide Prevention Winter Pressure Warm Spaces LCC Citizens Advice The Fore (Spring) Night Light Café MCN Mindfulness Total |
Balance at 1st April 2023 0 38,786 1,000 13,485 1,055 1,120 2,830 27,095 1,466 86,837 |
Incoming resources 80,550 0 10,000 0 0 0 0 33,411 0 |
Resources expended (34,757) (12,043) (6,707) (12,026) (1,055) (1,120) (2,830) (6,122) (1,466) (50,034) |
Balance at 31st March 2024 45,793 26,743 4,293 1,459 0 0 0 54,384 0 |
| 41,522 | 132,672 |
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MindSpace (Stamford) Ltd
Notes to the financial statements
For the year ended 2024
| 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 Pressure Warm Spaces – To help the community pay for heating bills. 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 Restricted funds Unrestricted funds 2024 2024 £ £ Fund balances at 31 March 2024 are represented by: Tangible assets 986 - Current assets/(liabilities) 131,686 26,328 ~~132,672~~ 26,328 |
Total 2024 £ - 159,000 159,000 |
||
|---|---|---|---|
| Total 2023 £ - 170,265 106,957 |
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MIndSpace (Stamford) Ltd
Notes to the financial statements
For the year ended 2024
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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