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2025-03-31-accounts

Registered number: 10281020 Charity number: 1181767

DEVON MIND

(A company limited by guarantee) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

DEVON MIND (A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the Charity, its Trustees and advisers 1 - 2
Trustees' report 3 - 19
Independent auditors' report on the financial statements 20 - 23
Statement of financial activities 24
Balance sheet 25 - 26
Statement of cash flows 27
Notes to the financial statements 28 - 51

DEVON MIND (A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025

Trustees P Guildford, Chair
S Claridge, Chair (resigned 18 July 2024)
N Pick, Vice Chair
P Blackmore
R Cozic
J Evans
M Keane
S Offord
J Hall (appointed 30 January 2025)
M Cordy (resigned 24 November 2024)
Professor E Hails (resigned 20 September 2024)
N Southcott (resigned 19 December 2024)
Company registered
number
10281020
Charity registered
number
1181767
Registered office
Plymouth Science Park
1 Davy Road
Plymouth
Devon
PL6 8BX
Key management
personnel
O Grimes (CEO)
W Kirby (Head of Services)
A Baigent (Business Support Manager)
Company secretary
O Grimes
S Claridge (resigned 18 July 2024)
Chief executive officer
O Grimes
Independent auditors
Griffin
Chartered Accountants
Courtenay House
Pynes Hill
Exeter
EX2 5AZ
Bankers
Unity Trust Bank Plc
4 Oozells Square
Birmingham
B1 2HB

Page 1

DEVON MIND (A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Solicitors

Tozers LLP Broadwalk House Southernhay West Exeter Devon EX1 1UA

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DEVON MIND (A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

The Trustees present their annual report together with the audited financial statements of the Charity for the year 1 April 2024 to 31 March 2025. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

Chair's Report

I am pleased to present our Annual Report for 2024/2025 on behalf of the Board of Trustees of Devon Mind.

The past 12 months have been a time of both challenge and opportunity, but through it all, Devon Mind has remained a steadfast source of hope, care, and transformation for those in need. Mental health continues to be a critical issue across all sectors of society, and we are proud of the impact we have made during this period.

The ongoing cost-of-living crisis and increasing societal pressures have led to a significant rise in the demand for mental health support across the UK. Like the previous year, Devon Mind has continued to expand and strengthen its range of services in response to this growing need. During the year, we provided direct support and guidance to 5,892 individuals in Devon, representing an increase from the previous year.

The demand for mental health support continues to grow, and with it comes the need for Devon Mind to continually evolve — in how we deliver our services, how we reach people, and how we respond to emerging challenges. This sustained growth has driven us to strengthen our capacity and adapt our delivery models to ensure our services remain effective, sustainable, and responsive to the needs of our communities.

Despite these pressures, we remain unwavering in our commitment to providing accessible, timely, and person-centred mental health support for all who need it. Our ability to reach more people each year is a testament to the dedication of our staff and volunteers, and to the strong partnerships we have developed with local organisations, funders, and community networks. Together, these efforts enable us to extend our impact and continue offering vital support to those facing mental health challenges.

Devon Mind is driving forward multiple channels and activities:

  1. One-to-one emotional support;

  2. Counselling;

  3. Recovery Learning through workshops and courses;

  4. Peer Support Groups;

  5. Wellbeing Activities;

  6. Advice via telephone, email, website, and social media;

  7. Mental health training for individuals and organisations

  8. Campaigning and public messaging

A comprehensive outline of our achievements and performance across all activities is provided in the Section 'Review of Activities'.

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DEVON MIND (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

The past year has been one of strategic focus and financial stability. Through the continued generosity of our donors, the dedication of our fundraising team, and the trust of our partners, Devon Mind has sustained a strong financial position, achieving an annual income of £1,190,908. We have continued to invest wisely in areas that strengthen our long-term resilience — including digital infrastructure, fundraising capability, and staff development — ensuring we remain equipped to respond effectively to the growing and changing mental health needs across Devon.

Our work this year has been driven by a clear objective: to transform how we support people living with mental ill health, making sure they can access help when they need it, where they need it, and in the way that best suits them. This approach underpins our involvement in the Devon Mental Health Alliance (DMHA), now in its fourth year — a strategic partnership of five VCSE organisations working alongside Livewell Southwest and Devon Partnership Trust to deliver the community component of the Community Mental Health Framework (CMHF) transformation programme. Devon Mind continues to lead the delivery of DMHA services across Plymouth, West Devon, and North Devon, playing a key role in shaping a more integrated, accessible, and responsive mental health system.

Collaboration remains central to our success. Over the past year, we have strengthened our partnerships. Together, we are developing innovative, community-based programmes that broaden access to support and reach people in ways that reflect their unique needs and circumstances.

Our achievements are a direct result of the commitment and professionalism of our staff and volunteers, whose passion and resilience have been instrumental in driving positive change. We also extend our sincere gratitude to our commissioners, funders, corporate partners, and supporters, whose contributions and creativity have enabled us to sustain and expand our work. Our thanks also go to the national Mind network, our external advisors, and our Board of Trustees for their ongoing guidance and oversight.

As we look ahead, Devon Mind remains steadfast in its mission to improve mental health and wellbeing for all in Devon. We will continue evolving how we deliver support — ensuring that individuals can access the help they need when, where, and how they need it — building a more inclusive, responsive, and effective mental health system for the future.

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DEVON MIND (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Objectives and activities

a. Policies and objectives

Devon Mind is an independent charity affiliated to National Mind. We adhere to national Mind's vision: 'We won't give up until everyone experiencing a mental health problem gets both support and respect' . We work to promote wellbeing and prevent mental health problems in Devon.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

Devon Mind's Articles of Association sets out the principle organisational purposes, which are for the public benefit and are compatible with the requirements of the Charities Act 2011.

These are:

  1. To promote the preservation of mental health and to assist in relieving and rehabilitating persons suffering from mental disorders or conditions of emotional distress requiring advice and treatment, in association with Mind (National Association for Mental Health) in accordance with the aims and objectives of Mind (NAMH).

  2. To promote the study of and research into mental health disorders and emotional or mental distress and to obtain and make records of and disseminate information concerning the same to educate the public in matters relating to mental health.

In addition, Devon Mind specifically aims to:

b. Our Vision

Our vision is of a society that promotes and protects good mental health for all and treats people with experience of mental ill health fairly, positively and with respect. We work in partnership with national Mind and with other Local Mind organisations to provide information and support, and to campaign to improve policy and attitudes.

c. Our Mission

To ensure that Devon is a place where people can enjoy good mental health and have the opportunity to reach their potential.

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DEVON MIND (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Objectives and activities (continued)

d. Our Values

Our values are at the heart of everything we do:

e. Ensuring our work delivers our aims

We continually review our aims, objectives and activities in a way that involves input from all Devon Mind stakeholders: trustees, staff, volunteers, and service-users. This includes:

  1. Quarterly review of performance, quality, and finance through standing board subcommittees (Corporate; Finance, Fundraising and Income Generation).

  2. Annual All Staff Away Day - this is an opportunity to look back at the previous year, and to plan for the year ahead.

  3. Quarterly 'All Staff and Volunteer' meetings through which consultation, development, impact monitoring, evaluation and feedback are key themes for discussion on an ongoing basis.

  4. Monthly departmental team meetings that continually monitor how our services meet the needs of the communities we serve.

  5. Co-production with our service-users, users of wider mental health services, carers, professionals and volunteers to ensure that the voice of lived experience is a golden thread in the work of Devon Mind.

f. The focus of our work

Our principal objective during the year continued to be the provision of high-quality support to individuals in Devon affected by mental ill health. A comprehensive summary of our activities undertaken during the reporting period is presented in Section 4: Review of Activities. Alongside delivering a wide range of mental health support services, we have sustained our commitment to promoting greater understanding and awareness of mental health through the continued delivery of our training programmes and communications work.

The development and delivery of our services are guided by the evolving needs of our communities, the resources available through our partner agencies and funders, and our organisational capacity. Our staff and volunteers remain central to our success, demonstrating professionalism, empathy, and dedication in their work with service users and stakeholders across Devon. We are committed to ensuring that all team members receive appropriate training, supervision, and support, enabling them to maintain the highest standards of service delivery and uphold the values of Devon Mind in all areas of our work.

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DEVON MIND (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Objectives and activities (continued)

g. Main activities undertaken to further the Charity's purposes for the public benefit

The Trustees have paid due regard to the guidance on public benefit issued by the Charity Commission in determining the activities undertaken by Devon Mind. Every aspect of our work is designed to advance mental health and wellbeing across Devon, ensuring that our services deliver demonstrable benefit to individuals and communities in need.

We are committed to transparency, accountability, and the responsible use of charitable funds to achieve the greatest possible impact. Our decisions are informed by evidence, guided by community need, and shaped by the voices of those with lived experience of mental ill health.

Devon Mind adopts a robust Monitoring, Evaluation, and Learning (MEL) framework to understand and maximise the public benefit of our work. This approach ensures that our programmes remain responsive, evidence-led, and effective in improving mental health outcomes.

Our MEL framework enables us to:

This continuous cycle of learning helps us refine our services, enhance efficiency, and ensure we deliver measurable improvements in people’s lives.

We use data and research to inform decision-making and to design services that meet the diverse needs of our communities. By analysing demographic and wellbeing data, we can identify where mental health support is lacking and prioritise resources accordingly.

Through this work, we:

Before introducing new services or delivery models, we develop “test of change” pilots to evaluate their effectiveness in real-world settings. These pilots allow us to innovate responsibly, testing new approaches on a smaller scale before embedding them across the organisation.

Recent pilot initiatives have included:

By rigorously monitoring outcomes and user feedback, we ensure that only the most effective and impactful approaches are scaled up - maximising benefit and sustainability across our services.

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DEVON MIND (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Objectives and activities (continued)

Devon Mind works in close collaboration with statutory, voluntary, community, and social enterprise (VCSE) partners to create a seamless and supportive mental health ecosystem across Devon as a partner in the Devon Mental Health Alliance (DMHA)

Our partnership work focuses on:

Through this spirit of collaboration, we are building a more compassionate and connected Devon — one in which collective action delivers far greater impact than any organisation could achieve alone. By working hand in glove with statutory, voluntary, and community partners, we reach those experiencing the poorest life outcomes, breaking down barriers, and ensuring that support is accessible, coordinated, and person-centred.

Through these efforts, Devon Mind continues to demonstrate its commitment to delivering meaningful public benefit - transforming lives, strengthening communities, and advancing mental health and wellbeing for all.

h. Volunteers

We remain profoundly grateful for the unwavering dedication and generosity of our volunteers, whose contributions are integral to the success of Devon Mind. During the year, 28 volunteers collectively donated 3,127 hours of their time in support of our mission.

Our counselling service continues to rely on the expertise and commitment of our volunteer qualified counsellors and counsellors in training, without whom this vital provision could not operate at its current scale. In addition, volunteers played an essential role in the delivery of our flagship fundraising events - the Plymouth Harbour Runs - as well as in a wide range of community outreach and promotional activities.

If the value of volunteer time is conservatively estimated at £11.44 per hour (the National Minimum Wage rate for 2024/25), their combined contribution equates to £35,772. While this amount is not recognised in the financial statements in accordance with the Charities SORP, it represents an invaluable social and economic contribution to Devon Mind and the communities we serve.

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DEVON MIND (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Achievements and performance

a. Review of activities

Our flagship service continues to be delivered through the Recovery College model, led by our skilled recovery practitioners, counsellors, and volunteers. This approach empowers individuals to co-design their own recovery journey, offering a flexible and person-led pathway to improved wellbeing. Participants can engage in a wide range of activities — from structured, goal-oriented one-to-one emotional support to group workshops, courses, wellbeing activities, and peer support sessions.

At the heart of this model is our commitment to delivering whole-person support that addresses all aspects of an individual’s mental health and wellbeing. We work collaboratively with a network of partner agencies to ensure care is coordinated and integrated, so that no one is required to repeat their story or navigate services alone.

All of Devon Mind’s services are grounded in a trauma-informed approach, which acts as a guiding principle across the organisation. Our staff and volunteers receive ongoing training, continuing professional development (CPD), and supervision, enabling them to work creatively, compassionately, and effectively with individuals on their path to recovery.

Through our active role in the Devon Mental Health Alliance (DMHA), we continue to support people living with severe mental illness to connect with meaningful community-based activities and organisations that promote long-term wellbeing. Working closely with our partners in the statutory sector, the DMHA ensures a ‘front door’ approach to mental health support in Devon — offering clear, accessible routes into help and care. Our overarching aim remains to provide a holistic, person-centred service that is inclusive, accessible, and responsive to the needs of all, regardless of background or circumstance.

The table below provides a snapshot of all our activities in this financial year.

Service/Activity No. of people supported Number of individual Staff/Volunteer Hours
sessions
One-to-One Emotional 3,913 6,667 10,213
Support
Counselling 365 1,365 2,047
Workshops and Courses 325 91 1,192
Support Groups 78 39 67
Wellbeing Activities 793 286 429
Mental Health Training 421 23 517

In addition to the above activities, Devon Mind provides information, support and advice via telephone, email, text, social media, and the website. In 2024/2025, Devon Mind recorded 12,585 contact points with people and organisations across Devon looking for advice, support, and information.

One to One Emotional Support

We supported 3,913 people (18 years old and above) across a broad spectrum of mental health needs to access ongoing psychologically-informed one-to-one emotional support at Devon Mind. A total of 6,667 sessions were delivered in 2024/2025 to this cohort of people. This reflects 10,213 hours of staff and volunteer time in the delivery of these sessions. These sessions are tailored to the individual's needs and are designed to foster a safe and supportive environment where the person can explore their emotions, thoughts, behaviours, and aspirations, with the guidance of a trained professional.

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DEVON MIND (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Achievements and performance (continued)

One-to-One Emotional Support Testimonials

‘Working with my Recovery Practitioner at Devon Mind completely changed how I see my mental health, for the first time, I felt truly listened to and understood.'

‘When I first came to Devon Mind, I honestly didn’t know where to start. Everything felt overwhelming, and I’d lost confidence in myself. My Recovery Practitioner made me feel comfortable straight away, there was no judgement. We worked together to set small, realistic goals, and over time I started to believe that things could actually get better. Having someone to listen and encourage me made a huge difference. I’m now doing things I never thought I’d manage again. I finally feel like I’ve got some control back in my life’

Counselling

Devon Mind provides a comprehensive range of counselling services designed to support individuals facing mental health challenges. These services are tailored to help people manage a variety of emotional difficulties, including anxiety, depression, trauma, grief, and stress. The focus is on offering accessible, person-centred support to enhance mental well-being. Our counselling is delivered face-to-face and on videoconferencing and telephone platforms. In 2024/2025, our qualified volunteer, and student counsellors delivered 1,365 counselling sessions to 314 people. We are hugely grateful to all our counsellors for the time and energy they give to supporting people who access Devon Mind for counselling.

Counselling Testimonials

‘The sessions with my counsellor gave me the channel to express myself in a safe non-judgmental space. He enabled me to view things from a different perspective to feel positively about myself and my capabilities.’

‘Counselling with Devon Mind helped me see that I had the strength to make changes in my life. I learned to understand myself better and take control of my choices.’

Workshops and Courses

The psychoeducation workshops and courses offered by Devon Mind aim to empower individuals with the knowledge and tools to better understand and manage their mental health. These programmes are designed for people experiencing mental health challenges, as well as their families, carers, and the wider community. Each session is co-designed to provide valuable insights into various mental health issues such as anxiety, depression, trauma, and stress. The overarching aim of these learning activities is to help participants gain knowledge, build life skills, and develop emotional resilience, all of which are essential for improving mental health and fostering long-term recovery.

In 2024/2025, the team of staff and volunteers at Devon Mind delivered workshops and courses to 325 people from across Devon. This represents a total of 82 sessions in total as some courses and workshops are delivered over a number of weeks. The most popular workshops and courses included the following:

Workshop and Course Testimonials

‘The workshop really made me stop and think. I learned loads about how I react to things and why. It’s helped me handle situations so much better. I just feel more aware and in control now.’

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DEVON MIND (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Achievements and performance (continued)

Support Groups

The Devon Mind peer support groups offer a safe and supportive space where individuals can connect with others who share similar experiences of mental health challenges. These groups provide an opportunity for people to come together, share their stories, and offer mutual encouragement in a non-judgmental and empathetic environment. Our groups are open to everyone, regardless of background or mental health challenge and we maintain a confidential space where participants can speak openly and honestly about their own journeys. The groups are a vital part of our commitment to promoting mental wellbeing, fostering connection, and building a supportive community where everyone feels heard and valued.

Our peer support groups are well established and have been running for many years. For some people, they are a part of their social calendar where they meet and connect with others. In 2023/2024, we ran the following groups on a regular basis.

In total, Devon Mind supported 78 new people into these groups in 2024/2025. A total of 39 group sessions were held throughout the year.

Support Group Testimonials

'The group is invaluable to me. I am so glad to have found it and the support it offers, not just to me, but to many others like me.'

Mental Health Training

In 2024/2025, we delivered 23 training courses to 421 people from private, public and VCSE sector organisations across Devon. The courses delivered included:

Each training session concludes with the opportunity for all learners to complete a feedback and evaluation questionnaire on their experience of the course and the trainer, the impact the course had on their knowledge and practice, and how they will use the skills learned in the future. We use the results of these questionnaires our key performance indicators when assessing the efficacy of our training programmes, and to also inform where we need to make changes, and what other training programmes we need to develop to meet current and future needs.

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DEVON MIND (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Achievements and performance (continued)

Mental Health Training Course Testimonials

‘The training was brilliant. I came away with a much better understanding of how to support others and look after my own wellbeing too.’

Monitoring, Evaluation and Learning

We use a range of key performance indicators to assess progress against targets on all our activities. These KPIs include:

  1. Patient Reported Outcomes Measures (PROMs) including ReQol-10 and Goal Based Outcomes. PROMs are used to assess the quality of mental health care experiences, focusing on the service-user. These measures help the charity, our commissioners and other stakeholders to make informed changes to our services to ensure they are impactful and meaningful for people who access support with Devon Mind.

  2. Number of Multi-Agency Teams (MATs) that Devon Mind Recovery Practitioners are embedded in. MATs typically consist of local health care professionals (GPs; Nurses; Occupational Therapists; Psychiatrists; Clinical Psychologist etc.) and wider VCSE sector workers (such as the Devon Mind Recovery Practitioners). MATs work as creative solutions panels, with a group of professionals working together to provide a comprehensive support offer of people with mental health needs. The MATs prevent people from being 'bounced around the system'.

  3. Engagement with interventions offered - we record all interventions and activities on our case management system and look at the conversion rate from 'first enquiry/assessment' to 'participation' in a particular activity (e.g., counselling or support groups). We collect rich data on why people may not progress to full engagement and test out our assumptions through our focus groups and wider co-design forums (e.g. do we need to change our offers in anyway?).

  4. Feedback and evaluation. All our service-users are asked to provide feedback and evaluation regardless of the service accessed. We use this information to inform our understanding of the longer-term impact of the Devon Mind offer and we work with our statutory partners to find correlations where they exist between the support offered by Devon Mind, and the number of people continuing to access their GP, secondary mental health services, or emergency services.

Marketing and Fundraising

We have used our growing social media presence to inform people of our services, provide information about our events and activities, and to share general emotional wellbeing information, advice and guidance. Our presence on fundraising platforms has now grown to ensure that people can fundraise for us with ease and efficiency. To date, we are active on the following platforms:

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DEVON MIND (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Achievements and performance (continued)

The Plymouth Harbour Runs are Devon Mind's flagship annual active challenge events - two unique community running challenges centred around Plymouth's iconic Sutton and Cattewater Harbours. The events include a 10k from Mount Batten to the Barbican and a half marathon from Yelverton to the Barbican, both raising vital funds for Devon Mind. We would like to express our sincere thanks to the Plymouth Cattewater Harbour Commissioners for their ongoing support.

Financial review

a. Financial Review 24/25

The financial year ending March 2025 continued to present a challenging landscape, both nationally and globally. The following key factors had a significant impact on the economic and social environment in which Devon Mind operated:

Despite these challenges, Devon Mind maintained a stable financial position throughout the year. Regular review of expenditure and careful management of operational costs ensured that cash flow remained healthy.

Total income for the year was £1,190,908, of which £1,011,095 was derived from contracted income for services and performance-related grants (see note 4). The Devon Mental Health Alliance (DMHA), funded by the NHS, continues to represent our largest contract. Other significant projects are funded by Plymouth City Council, National Mind, and regional partners.

Our Mental Health Training Programme and paid-for counselling services continue to be important sources of unrestricted income, generating £67,702 at year-end.

While public awareness and discussion of mental health remain high, the financial pressures facing households have led to a continued decline in personal giving. Voluntary donated income totalled £95,122, compared with £125,271 in 2024/2025. This reduction aligns with national trends across the charity sector, as the cost-of-living crisis continues to affect individual giving levels.

Total expenditure for the year was £1,311,990, primarily comprising staff salaries and project delivery costs. The resulting net expenditure of £121,082 reflects the combined effect of inflationary cost increases and the ongoing reduction in unrestricted income.

At year-end, net assets stood at £810,984, with fixed assets of £549,885. Restricted funds totalled £11,516, and unrestricted funds amounted to £799,468, including designated funds of £175,002 (see note 17). The general unrestricted fund closed at £624,466.

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DEVON MIND (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

b. Going concern

The Trustees have undertaken a comprehensive review of Devon Mind’s financial position, operational commitments, and the wider environment in which the charity operates. This review included an evaluation of available resources, income forecasts, and the sustainability of existing and planned activities. Following this assessment, the Trustees are confident that Devon Mind remains well placed to continue delivering its services and achieving its objectives in the foreseeable future.

The Board highlights the following key factors underpinning this conclusion:

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DEVON MIND (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

c. Reserves Policy

Devon Mind maintains financial reserves to ensure the ongoing stability and sustainability of the charity. Holding appropriate reserves allows the organisation to manage financial risk and respond effectively to unexpected challenges. The principal purposes for retaining reserves are to:

The charity’s objective is to maintain reserves equivalent to approximately four months of operational expenditure, in addition to provisions for staff notice and redundancy entitlements, and closure-related costs.

The Trustees have designated specific reserves totalling £175,002 (see note 17) to meet potential future commitments, including possible shortfalls in EU income reimbursements, investment in organisational development, and IT infrastructure improvements.

The current position of total unrestricted reserves, free for the Charity to use, is £799,468. The Trustees are satisfied that this level of reserves is appropriate and aligns with the charity’s financial risk profile and operational requirements. The reserves position and related policy are reviewed regularly throughout the year and specifically as part of the annual budgeting process, ensuring that the charity continues to hold an adequate but not excessive level of reserves.

d. Investments policy

The Trustees continue to utilise a discretionary investment management service, with the portfolio positioned at risk level 6. RBC Brewin Dolphin act as Devon Mind’s appointed investment managers and advisors. As signatories to the UN Principles for Responsible Investment, RBC Brewin Dolphin actively engage with companies and industry bodies on key environmental, social, and governance (ESG) issues that may affect long-term investment performance and sustainability.

At the year-end, the market value of the investment portfolio had risen by £7,178, reflecting broader trends in a volatile global market environment.

Devon Mind maintains a formal Investment Policy, reviewed annually by the Finance, Fundraising and Income Generation Committee. This policy ensures that investment decisions align with the charity’s strategic objectives and ethical commitments.

The Trustees are committed to ensuring that all investments are made responsibly and sustainably, balancing financial return with Devon Mind’s values and social purpose. RBC Brewin Dolphin incorporate a broad range of ESG factors when evaluating and selecting investments on our behalf.

In line with our ethical principles and organisational independence, Devon Mind does not invest in companies involved in the manufacture, sale, or promotion of pharmaceuticals. This approach safeguards our ability to act as an independent voice for people with lived experience of mental health difficulties and ensures our investments remain consistent with our mission and values.

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DEVON MIND (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

e. Principal risks and uncertainties

Devon Mind reviews risk on an ongoing basis through our Board of Trustees, sub-committees, and Senior Management Team (SMT). The organisation maintains a 'Risk Register' that is reviewed and updated on a quarterly basis. This allows us to appraise and mitigate against existing known risks and to identify new risks. We consider the impact and likelihood of risks occurring and give particular attention to the management of the most severe risks.

Devon Mind has identified the following principal risks facing the Charity over the next 12 months, alongside the action that is been taken to mitigate against these risks.

Recruitment and retention of appropriately skilled staff

Staff recruitment and retention remain an ongoing risk for our charity alongside many other health and social care charities. There is less movement of experienced staff between sectors as people are nervous about leaving long standing jobs for a career in the charity sector, when the wider economic situation is not so positive. To mitigate against this, we have introduced a hybrid model of working with limited remote working for staff where it is appropriate. We have also offered compressed hours and 9-day fortnights where they fit with service demands. We have benchmarked our jobs against the sector average, and we are committed to ensuring that people are properly remunerated in line with core competencies and responsibilities. We also provide comprehensive training and opportunities for continuing professional development for all staff. Where possible, we will work with partner agencies to facilitate secondments into Devon Mind on joint pieces of work.

Income and financial sustainability

Income and financial sustainability have traditionally been the main risks associated with the charity sector. Inflationary uplifts to salaries need to be considered on an annual basis going forward (to retain staff), and high-inflation scenarios will be modelled into the standard forecasting processes to test the financial resilience of the charity. In addition, we will invest in our income generation resources to enable us to develop relationships and funding streams from trusts and foundations, in addition to enhancing our marketing, fundraising and events capacity to grow our fundraiser base. We will expand our cash-flow forecasting from 12 months to 24 months to ensure we have enhanced visibility of when our financial sustainability becomes a concern, and we will take actions well in advance to mitigate this vulnerability.

Meeting demand for our services

As we raise our profile in Devon, alongside our partnership working with the NHS and local authorities, we will inevitably experience an exponential demand for access to our services. We will continue to work closely with partner agencies to ensure that we keep people safe, and we will also further develop our digital offer to ensure that people can 'wait well' while they are on waiting lists for our services. Of particular note, we are committed to the development of a wholly agile workforce- this involves training all of our staff to work in a traumainformed, holistic way, and regardless of their current role, they can be called upon in times of significant pressures to support our wider service delivery. An example of this approach is that all staff in Devon Mind, across all departments, are training in 'duty work', and can at any time support people with very brief interventions while they await access to our services.

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DEVON MIND (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

f. Principal funding sources

The principal funding sources are set out in notes 3 and 4 to the accounts.

Devon Mind’s income is derived from a diverse range of funding streams that support the delivery of our services and the sustainability of our operations. Our principal sources of funding continue to be contracted income from the NHS through the Devon Mental Health Alliance (DMHA) and local authority commissions, particularly from Plymouth City Council.

Additional core and project funding is received from National Mind and other grant-making bodies that share our commitment to improving mental health and wellbeing. Alongside these statutory and grant-funded streams, Devon Mind generates unrestricted income through fundraising activities, corporate partnerships, community events, and individual donations, as well as through our commercial mental health training and paid-for counselling services.

Structure, governance and management

a. Constitution

Devon Mind is registered as a charitable company limited by guarantee and was set up by a Trust deed.

b. Methods of appointment or election of Trustees

The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.

c. Organisational structure and decision-making policies

The company was incorporated on 15 July 2016 as a private limited company by guarantee with no share capital in England and Wales (Co. No. 10281020). The company was registered with the Charity Commission on 28 January 2019 (Charity No. 1181767). The governing documents are the Articles of Association. The charity continues to review regularly its governing document in line with best practice, as outlined in the Mind Quality Mark Standards.

d. Risk Management

The trustees review the major risks to which the organisation is exposed and measures are in place to mitigate those risks.

e. Public benefit statement

The trustees confirm that the main activities undertaken to further the charity's purposes and to have due regard to the Charity Commission's general guidance of public benefit.

Page 17

DEVON MIND (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Plans for future periods

We have identified two key strategic priorities that Devon Mind will focus on achieving over the 5-year period covering 2023-2027:

We will achieve our strategic priorities by focusing on five key thematic areas:

  1. Leadership and Governance

  2. i. Sustain a robust Devon Mind Board that is representative of our organisation and has appropriate skills to enable it to function efficiently.

  3. ii. Develop and sustain a strong and high-performing senior leadership team that models culture and behaviour, and enables Devon Mind to successfully achieve its aims and objectives.

  4. iii. Nurture a committed, compassionate, motivated, highly trained, and agile workforce that feels valued, respected, and listened to.

  5. Partnership and Collaboration

  6. i. Play an integral role in the success of the Devon Mental Health Alliance (DMHA) partnership (The DMHA's success is Devon Mind's success).

  7. ii. Seek out opportunities for collaboration that align with Devon Mind's purpose, mission, and values, and support the Charity's overarching strategic priorities.

  8. Quality and Impact

  9. i. Successfully maintain the Mind Quality Mark (MQM) and continually implement improvements.

  10. ii. Use the experiences of those using our services as a measure of quality and to inform 1 improvement measures.

  11. iii. Fully utilise the Devon Mind CRM and Impact Tracker systems to ensure evidence and data is core to our decision-making processes.

  12. iv. Develop a reputation for evidence-based and quality assured work that achieves the best possible outcomes for people with mental ill health.

4. Engagement and Influence

5. Sustainability and Resilience

Page 18

DEVON MIND (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Statement of Trustees' responsibilities

The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' 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. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and 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 Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditors

Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:

Auditors

The auditors, Griffin, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.

Approved by order of the members of the board of Trustees on

_______ and signed on their behalf by: 27/11/2025

P Guildford

(Chair of Trustees)

Page 19

DEVON MIND (A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF DEVON MIND

Opinion

We have audited the financial statements of Devon Mind (the 'charitable company') for the year ended 31 March 2025 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Page 20

DEVON MIND (A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF DEVON MIND (CONTINUED)

Other information

The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Trustees' responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Page 21

DEVON MIND (A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF DEVON MIND (CONTINUED)

Auditors' responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our audit procedures have reviewed for evidence of management override, any ongoing legal cases, completeness of related party transactions, as well as an ongoing consideration of fraud and irregularities during the whole audit process.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.

Other matters

Devon Mind did not require an audit in the previous year. Therefore, the comparative figures are unaudited. Sufficient appropriate audit evidence that the opening balances do not contain misstatements that materially affect the current period’s financial statements has been obtained.

Page 22

DEVON MIND (A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF DEVON MIND (CONTINUED)

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Laura Waycott FCA (Senior statutory auditor)

for and on behalf of Griffin Courtenay House Pynes Hill Exeter EX2 5AZ

Date: 4/12/25

Griffin are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

Page 23

DEVON MIND (A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025

Note
Income from:
Donations and legacies
3
Charitable activities
4
Investments
5
Total income
Expenditure on:
Raising funds
6
Charitable activities
7,8
Total expenditure
Net movement in funds before other
recognised gains/(losses)
Other recognised gains/(losses):
(Losses)/gains on revaluation of fixed
assets
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Restricted
funds
2025
£
-
1,011,095
-
1,011,095
-
999,980
999,980
11,115
-
11,115
401
11,115
11,516		 Unrestricted
funds
2025
£
95,122
67,702
16,989
179,813
28,056
283,954
312,010
(132,197)
(535)
(132,732)
932,200
(132,732)
799,468		 Total
funds
2025
£
95,122
1,078,797
16,989
1,190,908
28,056
1,283,934
1,311,990
(121,082)
(535)
(121,617)
932,601
(121,617)
810,984		 Total
funds
2024
£
125,271
846,734
13,875
985,880
26,137
1,123,786
1,149,923
(164,043)
50,296
(113,747)
1,046,348
(113,747)
932,601

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

The notes on pages 28 to 51 form part of these financial statements.

Page 24

(A company limited by guarantee) REGISTERED NUMBER: 10281020

DEVON MIND

BALANCE SHEET AS AT 31 MARCH 2025

Note
Fixed assets
Intangible assets
12
Tangible assets
13
Investments
14
Current assets
Debtors
15
Cash at bank and in hand
Current liabilities
Creditors: amounts falling due within one
year
16
Net current assets
Total assets less current liabilities
Net assets excluding pension asset
Total net assets
Charity funds
Restricted funds
17
Unrestricted funds
17
Total funds		 83,877
232,729
316,606
(54,891)		 2025
£
-
3,062
546,207
549,269
261,715
810,984
810,984
810,984
11,516
799,468
810,984		 72,609
363,124
435,733
(48,361)		 2024
£
169
6,031
539,029
545,229
387,372
932,601
932,601
932,601
401
932,200
932,601

Page 25

DEVON MIND (A company limited by guarantee)

BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2025

The entity was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the entity to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

However, an audit is required in accordance with section 144 of the Charities Act 2011.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees on _______ 27/11/2025 and signed on their behalf by:

P Guildford

(Chair of Trustees)

The notes on pages 28 to 51 form part of these financial statements.

Page 26

DEVON MIND (A company limited by guarantee)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025

Cash flows from operating activities
Net cash used in operating activities
Cash flows from investing activities
Dividends, interests and rents from investments
Purchase of tangible fixed assets
Purchase of investments
Sale of investments
Net cash provided by/(used in) investing activities
Cash flows from financing activities
Net cash provided by financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
The notes on pages 28 to 51 form part of these financial statements		 2025
£
(133,774)
4,099
(720)
-
-
3,379
-
(130,395)
363,124
232,729		 2024
£
(48,443)
13,875
(4,226)
(97,991)
75,808
(12,534)
-
(60,977)
424,101
363,124

Page 27

DEVON MIND (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1. Accounting policies

1.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Devon Mind meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

1.2 Going concern

The Trustees confirm that, having considered their expectations and intentions for the next twelve months, and the availability of working capital, the charity is a going concern.

1.3 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

For donations to be recognised, the Charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained, then income is deferred until those conditions are fully met, or the fulfilment of those conditions is withing the control of the Charity, and it is probable that they will be fulfiled.

Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Income from charitable activities includes income earned from fundraising events and trading activities to raise funds for the Charity. Income is received in exchnage for supplying goods and services in order to raise funds and is recognised when the entitlement has occurred.

The Charity received government grants in respect of mental health services. Income from government and other grants are recognised at fair value when the Charity has entitlement after any performance conditions have been met, it is probable that the income will be received, and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Page 28

DEVON MIND (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1. Accounting policies (continued)

1.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

1.5 Intangible assets and amortisation

Intangible assets costing £300 or more are capitalised and recognised when future economic benefits are probable, and the cost or value of the asset can be measured reliably.

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life.

Amortisation is provided on the following basis:

Page 29

DEVON MIND (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1. Accounting policies (continued)

1.6 Tangible fixed assets and depreciation

Tangible fixed assets costing £300 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment

33% straight line

1.7 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.

1.8 Debtors

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

1.9 Cash at bank and in hand

Cash at bank and 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.

1.10 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

Page 30

DEVON MIND (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1. Accounting policies (continued)

1.11 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.12 Pensions

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

1.13 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

2. Critical accounting estimates and areas of judgment

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results.

Critical areas of judgment:

There are no such critical areas of judgement included within the financial statements.

Page 31

DEVON MIND (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

3. Income from donations and legacies

Donations
Donations
Income from charitable activities
Sale of goods and services
Performance related grants
Contractual payments
Sale of goods and services
Performance related grants
Contractual payments		 Unrestricted
funds
2025
£
95,122
Unrestricted
funds
2024
£
125,271
Restricted
funds
2025
Unrestricted
funds
2025
£
£
-
67,702
1,011,095
-
-
-
1,011,095
67,702
Restricted
funds
2024
Unrestricted
funds
2024
£
£
-
46,087
683,778
200
116,669
-
800,447
46,287		 Total
funds
2025
£
95,122
Total
funds
2024
£
125,271
Total
funds
2025
£
67,702
1,011,095
-
1,078,797
Total
funds
2024
£
46,087
683,978
116,669
846,734

4. Income from charitable activities

Page 32

DEVON MIND (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

5. Investment income

Unrestricted
funds
2025
£
Income from portfolio
12,891
Bank interest
4,098
16,989
Unrestricted
funds
2024
£
Income from portfolio
11,324
Bank interest
2,551
13,875		 Total
funds
2025
£
12,891
4,098
16,989
Total
funds
2024
£
11,324
2,551
13,875

Page 33

DEVON MIND (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

6. Expenditure on raising funds

Fundraising trading expenses

Unrestricted
funds
2025
£
Fundraising
28,056
Unrestricted
funds
2024
£
Fundraising
26,137		 Total
funds
2025
£
28,056
Total
funds
2024
£
26,137

7. Analysis of expenditure on charitable activities Summary by fund type

Charitable activities
Charitiable Activities		 Restricted
funds
2025
Unrestricted
funds
2025
£
£
999,980
283,954
Restricted
funds
2024
Unrestricted
funds
2024
£
£
768,548
355,238		 Total
2025
£
1,283,934
Total
2024
£
1,123,786

Page 34

DEVON MIND (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

8. Analysis of expenditure by activities

Charitable activities
Charitable activities
Analysis of direct costs
Staff costs
Staff training and welfare
Travel, subsistence and accomodation
Advertising and marketing
Funding partners
Direct project costs
Office
Legal and professional		 Activities
undertaken
directly
2025
£
974,612
Activities
undertaken
directly
2024
£
773,380		 Support
costs
2025
£
309,322
Support
costs
2024
£
350,406
Total
funds
2025
£
882,097
6,893
31,154
2,045
2,000
36,255
14,168
-
974,612		 Total
funds
2025
£
1,283,934
Total
funds
2024
£
1,123,786
Total
funds
2024
£
692,535
10,131
21,768
1,423
10,904
21,224
14,818
577
773,380

Page 35

DEVON MIND (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

8. Analysis of expenditure by activities (continued)

Analysis of support costs

Staff costs
Depreciation
Office costs
Premises costs
Staff training and welfare
Subcontracted costs
Profit/loss on sale of assets
Other staff costs
Governance costs		 Total
funds
2025
£
154,268
3,021
49,929
43,685
9,793
25,729
836
6,112
15,949
309,322		 Total
funds
2024
£
214,265
6,052
40,590
42,724
3,432
29,016
-
-
14,327
350,406

9. Auditors' remuneration

The auditors' remuneration amounts to £9,540 ( 2024 - Independant Examiners fee of - £3,600 ).

10. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2025
£
938,979
77,619
19,767
1,036,365		 2024
£
823,006
66,747
17,047
906,800

Page 36

DEVON MIND (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

10. Staff costs (continued)

The average number of persons employed by the Charity during the year was as follows:

Devon Mental Health Alliance
Recovery College
Training/Other
General		 2025
No.
22
4
4
2
32		 2024
No.
18
4
4
2
28

No employee received remuneration amounting to more than £60,000 in either year.

The total employee benefits, including employers pension costs, of key management personnel of the Charity was £136,417 (2024 - £113,726).

11. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2024 - £NIL) .

During the year ended 31 March 2025, no Trustee expenses have been incurred (2024 - £341) .

Page 37

DEVON MIND (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
12.
Intangible assets
Cost
At 1 April 2024
At 31 March 2025
Amortisation
At 1 April 2024
Charge for the year
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 Computer
software
£
15,000
15,000
14,831
169
15,000
-
169

Page 38

DEVON MIND (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

13. Tangible fixed assets

Cost or valuation
At 1 April 2024
Additions
Disposals
At 31 March 2025
Depreciation
At 1 April 2024
Charge for the year
On disposals
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 Computer
equipment
£
19,994
720
(10,305)
10,409
13,963
2,853
(9,469)
7,347
3,062
6,031

Page 39

DEVON MIND (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

14. Fixed asset investments

Cost or valuation
At 1 April 2024
Additions
Disposals
Revaluations
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024
Investments at market value comprised:
Investment Value (£)
UK Bonds 37,268
Overseas Bonds 58,687
UK Equities 84,075
North America Equities 175,348
European Equities 33,006
Japan Equities 15,749
Developed Asia ex Japan Equities 28,184
Emerging Market Equities 5,111
Global Investments 32,266
Absolute Return 17,870
Property 13,387
Commodities 26,206
Other Investments 7,290
Cash 11,761
Total 546,207		 Listed
investments
£
539,029
74,180
(67,537)
535
546,207
546,207
539,029

Page 40

DEVON MIND (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

15. Debtors

Due within one year
Trade debtors
Other debtors
Prepayments and accrued income		 2025
£
1,020
11
82,846
83,877		 2024
£
-
2,318
70,291
72,609

16. Creditors: Amounts falling due within one year

Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
Deferred income at 1 April 2024
Resources deferred during the year
Amounts released from previous periods		 2025
£
9,705
18,405
4,799
21,982
54,891
2025
£
8,633
4,170
(8,633)
4,170		 2024
£
7,542
19,282
3,688
17,849
48,361
2024
£
1,525
8,633
(1,525)
8,633

At the balance sheet date the Chairty was holding funds of £4,170 (2024 - £8,633) in relation to courses that are due to take place in the next financial year.

Page 41

DEVON MIND (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

17. Statement of funds

Statement of funds - current year

Balance at 1
April 2024
£
Unrestricted
funds
Designated
funds
Cessation fund
85,000
Development
fund
50,000
EU Projects
30,000
Digital costs
5,000
Lease
commitments
68,284
Capital fund
6,200
Investments
485,000
729,484
General funds
General Funds
160,151
Revaluation
reserve
42,565
202,716
Total
Unrestricted
funds
932,200		 Income
£
-
33,249
-
-
-
-
12,891
46,140
133,673
-
133,673
179,813		 Expenditure
£
-
(36,284)
(30,000)
(5,000)
-
(3,137)
(5,178)
(79,599)
(232,411)
-
(232,411)
(312,010)		 Transfers
in/out
£
(85,000)
(4,965)
-
-
61,655
-
(492,178)
(520,488)
563,053
(42,565)
520,488
-		 Gains/
(Losses)
£
-
-
-
-
-
-
(535)
(535)
-
-
-
(535)		 Balance at
31 March
2025
£
-
42,000
-
-
129,939
3,063
-
175,002
624,466
-
624,466
799,468

Page 42

DEVON MIND (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

17. Statement of funds (continued)

Balance at 1
April 2024
£
Restricted
funds
National Mind
(Refugees
Asylum
Seekers
Project)
401
Recovery
College
(Plymouth City
Council)
-
Alliance
(Alliance
Community -
Contract)
-
National Mind
(Asics)
-
Wales & West
CoLF
-
National Lottery
(Sports
England)
-
Core
-
Trust Grants
-
401
Total of funds
932,601		 Income
£
2,494
120,169
840,497
20,816
7,619
15,000
1,000
3,500
1,011,095
1,190,908		 Expenditure
£
(2,895)
(120,169)
(839,375)
(20,816)
(3,874)
(8,351)
(1,000)
(3,500)
(999,980)
(1,311,990)		 Transfers
in/out
£
-
-
-
-
-
-
-
-
-
-		 Gains/
(Losses)
£
-
-
-
-
-
-
-
-
-
(535)		 Balance at
31 March
2025
£
-
-
1,122
-
3,745
6,649
-
-
11,516
810,984

Page 43

DEVON MIND (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

17. Statement of funds (continued)

Unrestricted funds represent the net value of income and expenditure, before transfers, in relation to the following activities:

Designated Funds - The Trustees have designated the costs of the full terms of their lease commitments. All other designated costs are in relation to improvement costs and development costs of our ongoing services.

Restricted funds represent the net value of income and expenditure, before transfers, in relation to the following activities:

National Mind (Refugees Asylum Seekers Project) - We worked in partnership with the Plymouth and Devon Racial Equality Council (PDREC) to support people who had been displaced to Plymouth by the war in Ukraine. With the support of an interpreter, we delivered targeted sessions focused on managing your mental health.

Recovery College (Plymouth City Council) - The Recovery College offers a suite of different activities (both online and face-to-face) that people can access in their own time, doing as much or as little as they feel would benefit them. Through the Recovery College, we offer a suite of different psychoeducational courses that support people to better understand and manage their mental health challenges. We also provide counselling, access to peer support groups, volunteer training and deployment, and opportunities for people to develop social connections and build their friendship groups. Our peer support groups in particular support people to meet others who have similar experiences to them, thus reducing the isolation that mental ill health commonly causes.

Alliance (Alliance Community - Contract) - The Alliance Community Contract has a key objective to promote better system integration between community and statutory organisations in Devon to ensure better access and improved outcomes for people in Devon with severe mental illness. They are an Alliance of 6 Devon VCSE organisations working in partnership with Devon Partnership Trust and Livewell Southwest to deliver on NHS England's programme of Community Mental Health Framework (CMHF) transformation.

National Mind (Asics) - We worked in Partnership with the Plymouth Argyle Community Trust to design an innovative programme that would support mental health and well-being through the integration of gentle physical activity and mindfulness practices.

Wales & West CoLF - The fund, managed through local Mind organisations, is funded by Wales & West Utilities under their Vulnerability & Carbon Monoxide Allowance (VCMA) programme. This funding enables grants to be distributed to local Mind organisations across Wales and the South West, enabling them to deliver support tailored to local need. Through the scheme, participants receive advice on household costs, emotional support, and financial education, with the aim of intervening early to prevent financial stress escalating into mental health crisis

National Lottery (Sports England) - The Fund is a major National Lottery and government-backed initiative, administered by Sport England, to support community organisations in delivering sport and physical activity projects. The Fund prioritises projects addressing inequalities — for people facing barriers to being active (such as low income, disability, or underrepresented groups) — and supports innovative, collaborative, place-based approaches to increase access to movement opportunities.

Page 44

DEVON MIND (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

17. Statement of funds (continued)

Core - Core refers to Devon Mind’s self-generated funds, earned through activities such as fundraising, training delivery, service fees, and donations. Unlike restricted or project-specific grants, this income is unrestricted and can be used flexibly to support the organisation’s overall running costs and strategic priorities. Core funding enables Devon Mind to maintain essential infrastructure, invest in staff development, strengthen governance, and ensure the sustainability of our services.

Trust Grants - Trust and foundation grants are time-limited funds awarded by charitable trusts, foundations, and grant-making bodies to support specific projects or areas of work. These grants are typically restricted, meaning the funding must be used for the purpose agreed with the grant provider and within a defined timeframe. Such funding allows Devon Mind to develop and deliver targeted programmes, pilot innovative approaches, and address emerging needs in our communities. Trust and foundation support is essential to expanding our reach and impact, complementing our core income by enabling us to deliver specialist mental health services and initiatives that might not otherwise be possible.

Page 45

DEVON MIND (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

17. Statement of funds (continued)

Statement of funds - prior year

Unrestricted
funds
Designated
funds
Cessation fund
Development
fund
EU Projects
Digital costs
Lease
commitments
Capital fund
Investments
General funds
General Funds
Revaluation
reserve
Total
Unrestricted
funds		 Balance at
1 April 2023
£
85,000
50,000
30,000
5,000
111,506
8,026
485,000
774,532
271,816
-
271,816
1,046,348		 Income
£
-
-
-
-
-
-
-
-
185,433
-
185,433
185,433		 Expenditure
£
-
-
-
-
-
-
-
-
(381,375)
-
(381,375)
(381,375)		 Transfers
in/out
£
-
-
-
-
(43,222)
(1,826)
-
(45,048)
33,981
42,565
76,546
31,498		 Gains/
(Losses)
£
-
-
-
-
-
-
-
-
50,296
-
50,296
50,296		 Balance at
31 March
2024
£
85,000
50,000
30,000
5,000
68,284
6,200
485,000
729,484
160,151
42,565
202,716
932,200

Page 46

DEVON MIND (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

17. Statement of funds (continued)

Restricted
funds
National Mind
(Refugees
Asylum
Seekers
Project)
Recovery
College
(Plymouth City
Council)
Alliance
(Alliance
Community
Contract)
National Mind
(Asics)
Total of funds		 Balance at
1 April 2023
£
-
-
-
-
-
1,046,348		 Income
£
22,451
117,369
646,443
14,184
800,447
985,880		 Expenditure
£
(22,050)
(106,566)
(625,748)
(14,184)
(768,548)
(1,149,923)		 Transfers
in/out
£
-
(10,803)
(20,695)
-
(31,498)
-		 Gains/
(Losses)
£
-
-
-
-
-
50,296		 Balance at
31 March
2024
£
401
-
-
-
401
932,601

Page 47

DEVON MIND (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

18. Summary of funds

Summary of funds - current year

Balance at
Balance at 1 Transfers Gains/ 31 March
April 2024 Income Expenditure in/out (Losses) 2025
£ £ £ £ £ £
Designated
funds 729,484 46,140 (79,599) (520,488) (535) 175,002
General funds 202,716 133,673 (232,411) 520,488 - 624,466
Restricted
funds 401 1,011,095 (999,980) - - 11,516
932,601 1,190,908 (1,311,990) - (535) 810,984
Summary of funds - prior year
Balance at
Balance at Transfers Gains/ 31 March
1 April 2023 Income Expenditure in/out (Losses) 2024
£ £ £ £ £ £
Designated
funds 774,532 - - (45,048) - 729,484
General funds 271,816 185,433 (381,375) 76,546 50,296 202,716
Restricted
funds - 800,447 (768,548) (31,498) - 401
1,046,348 985,880 (1,149,923) - 50,296 932,601

19. Analysis of net assets between funds

Analysis of net assets between funds - current year

Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
Total		 Restricted
funds
2025
Unrestricted
funds
2025
£
£
-
3,062
-
546,207
11,516
305,090
-
(54,891)
11,516
799,468		 Total
funds
2025
£
3,062
546,207
316,606
(54,891)
810,984

Page 48

DEVON MIND (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

19. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior year

Tangible fixed assets
Intangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
Total		 Restricted
funds
2024
£
-
-
-
401
-
401		 Unrestricted
funds
2024
£
6,031
169
539,029
435,332
(48,361)
932,200		 Total
funds
2024
£
6,031
169
539,029
435,733
(48,361)
932,601

20. Reconciliation of net movement in funds to net cash flow from operating activities

Net expenditure for the year (as per Statement of Financial Activities)
Adjustments for:
Depreciation charges
Amortisation charges
Dividends, interests and rents from investments
Loss on the sale of fixed assets
Decrease/(increase) in debtors
Increase in creditors
Management Fees in relation to investments
Net cash used in operating activities		 2025
£
(121,082)
2,853
169
(16,989)
836
(11,268)
6,530
5,177
(133,774)		 2024
£
(164,043)
2,590
3,462
-
-
93,957
15,591
-
(48,443)

Page 49

DEVON MIND (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

21. Analysis of cash and cash equivalents

Cash in hand
Total cash and cash equivalents		 2025
£
232,729
232,729		 2024
£
363,124
363,124

22. Analysis of changes in net debt

Cash at bank and in hand At 1 April
2024
£
363,124
363,124		 Cash flows
£
(130,395)
(130,395)		 At 31 March
2025
£
232,729
232,729

23. Pension commitments

The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the Charity to the fund and amounted to £19,767 (2024 - £17,047) and £3,675 (2024 - £3,687) were payable to the fund at the balance sheet date and are included in creditors.

24. Operating lease commitments

At 31 March 2025 the Charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:

Not later than 1 year
Later than 1 year and not later than 5 years		 2025
£
41,495
88,444
129,939		 2024
£
31,267
37,017
68,284

Page 50

DEVON MIND (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

25. Related party transactions

J Evans (Trustee) is a Partner of Tozers LLP, a Partnership that provided legal services during the year totalling £450 (2024: £577). An amount of £Nil (2024: £Nil) is included in debtors at 31 March 2025. There were no other related party transactions during the year.

Page 51