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2022-03-31-accounts

Trustees’ Report

and Unaudited Financial Statements

for the year ended 31 March 2022

Registered Charity Number 1182690

MY BLACK DOG

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

INDEX

Page
Charity information 1
Trustees’ report 2
Independent examiner’s report 7
Statement of financial activities 8
Balance sheet 9
Accounting policies 10
Notes to the financial statements 12

MY BLACK DOG

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

CHARITY INFORMATION

Name of the charity

My Black Dog

Patron

Eddy Temple-Morris

Trustees

Harry Owen, Chairman Iain Bremner, Treasurer Emily Cherry, Safeguarding Leon Douch Rachel Fowles Anita Guru, Learning & Development and Wellbeing James Mackeddie, Volunteering & Fundraising Oliver Roth Alice Scutchey, Events & Relationship Building

(appointed October 2022) (appointed November 2021)

(resigned September 2021) (appointed November 2021) (appointed November 2021) (resigned December 2021) (appointed November 2021

Key management personnel

Niki Clarke Chief Executive Officer Mark Glenister Operations Associate

Principal office

My Black Dog 88/90 Baker Street London W1U 6TQ

Registered charity number

1182690

Bankers

CAF Bank Limited 25 Kings Hill Avenue West Malling Kent, ME19 4JQ

Accountants

Dales Evans & Co Limited 88/90 Baker Street London , W1U 6TQ

Independent examiner

Geoffrey Frost Blue Spire Limited Cawley Priory South Pallant Chichester West Sussex, PO19 1SY

Page 1

MY BLACK DOG

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

TRUSTEES’ REPORT

The trustees have pleasure in presenting their annual report for the purposes of the Charities Act 2011, together with the accounts for the year ended 31 March 2022. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.

STRUCTURE GOVERNANCE AND MANAGEMENT

My Black Dog is a registered charity constituted as a charitable incorporated organisation and registered as a charity 29 March 2019.

The power to appoint and remove Trustees is vested in the Trustees and exercised by resolution at a meeting of the trustees. The number of Trustees shall be not less than three nor more than seven. If the number of Trustees falls below the minimum the remaining Trustee or Trustees may only act to call a meeting of the Trustees, or appoint a further Trustee or Trustees.

On agreeing to become a trustee of the charity, the trustees are provided with copies of the latest constitution of the Trust and the latest annual report and accounts.

The Trustees are responsible for identifying and reviewing the major risks to which the Trust is exposed and confirm that, as far as is possible given the nature of the grant payments and locations to which they are made, arrangements have been established to mitigate those risks.

A list of Trustees is provided on Page 1, and on our website: https://www.myblackdog.co/whos-in.

Trustees serve for a term of three years from the date of appointment.

Each Trustee’s term of office may be renewed for two further 3 years terms; subsequently the Trustee in question is required to resign but may apply for re-appointment after at least one year.

Trustee induction and training

Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.

OBJECTIVES AND ACTIVITIES

The objective of the charity is:

To promote and protect the mental health of people suffering from enduring mental illness living in England and Wales, in particular, but exclusively by the provision of a supportive, online community platform to ease the suffering of mental illness and improve the lives of people suffering from enduring mental illness.

In determining the charity’s activities, the trustees have had regard to the Charity Commission’s guidance on public benefit.

Strategies for achieving objectives

The charity is focussed on:

Economy:

Efficiency:

Page 2

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

MY BLACK DOG

TRUSTEES’ REPORT

ACHIEVEMENTS AND PERFORMANCE

Review of activities to-date

This is the third Annual Report of the Board of Trustees.

Background

Since 2019, the mission of My Black Dog has been to provide relief from suffering, improve the lives and aid the recovery of people suffering with mental health issues in England and Wales- to give support to those who need it most. My Black Dog, based in London, achieves this by providing an online peer-to-peer chat service for adults over 18, staffed by voluntters, that supports people with their mental health concerns via a supportive community platform. This service is unique as the only peer-to-peer mental health online chat function in the UK.

The uniqueness of this solution lies in the provision of instant messaging support by volunteers who themselves have suffered from mental health concerns. The service has great potential to be replicated at scale, as My Black Dog provides a volunteer mental health service that does not require an office, call centre or many other overhead costs to run. My Black Dog treates access to mental health support as an irrevocable right, not a privilege, and pursues greater equity in healthcare outcomes.

My Black Dog supported 6,000 people in 2021, an increase of 100% from its reach in 2020 and is on course to support 9,000 in 2022. It is not a crisis service and does not seek to replace mental health professionals and counselling, but rather to complement the services they offer. My Black Dog aims to reach those who are struggling with their mental health but who are not yet at crisis point, and do not have access to support from qualified professional: a huge number of people.

Achievements of My Black Dog

The Board of Trustees assesses staff (principally CEO and Operations Associate) against delivery of the Charity’s objectives on a quarterly basis.

The Annual Review 2021 provides a summary of achievements.

The main achievements in 2021/22 were:

Promotion and Communications

Operations

Development

Areas requiring further focus

We have secured some excellent fundraisers over this last year, however we need to do more to drive our own fundraising and specifically, events that can both raise funds and awareness.

Page 3

MY BLACK DOG

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

TRUSTEES’ REPORT

We need stronger policies and procedures in place to make sure that HR within the organisation as a whole is where it needs to be.

We need further staff to support the Charity’s growth.

Plans for April 2022 – March 2023

My Black Dog grew very quickly during the pandemic in a time of need. If we are to continue this growth, we need to have the structure to support this. We need further funds, a larger staff base and marketing in order to raise awareness and manage steady growth.

Fundraising needs to be at the forefront of MBD’s success. We need to capacitate growth, however, we are still in a grass roots phase and financially we are limited.

Development

Key financial performance indicators

Our financial results are carefully reviewed by the Trustees, led by the Treasurer, at quarterly Trustee meetings. The key areas the Trustees focuses on are cash balances and profit from our trading activities.

Factors relevant to achieve objectives

Ability to identify and source new fundraising opportunities and to be able to deliver within operational capabilities of the charity

FINANCIAL REVIEW

Results for the period

During the year the charity received donations amounting to £269,801 and had total expenditure of £169,973, therefore net income for the period was £99,828. At the balance sheet date the charity had free reserves of £199,420. The Trustees are satisfied that the charity’s assets are available and adequate to fulfil its obligations in relation to those funds.

The key sources of funds for the Charity are the receipt of funds from various fundraising events held throughout the year which the charity participates in, including and most materially, Carfest. Participation in Carfest in 2021 provided approximately 50% of the charity’s income for the period.

The Charity currently has unrestricted reserves of £199,420 as at 31/03/2022.

The Trustees have put in place a Reserves policy for 2022/23 period (see below) to reflect the growth of the charity and its obligations to its staff.

Reserves policy

The Trustees have the objective of maintaining sufficient reserves to offset any liabilities that should be incurred in the

Page 4

MY BLACK DOG

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

TRUSTEES’ REPORT

event that the charity would need to be wound up; redundancy costs of staff, rental costs of office space during the closure of the Charity and other on-going liabilities such as pension contributions and supplier costs. The Trustees believe that reserves of £199,420 will be sufficient to cover our current commitments and to meet all costs associated with a downturn in our activities and a potential winding up of the charity.

Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the CIO has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.

Volunteers

The Charity is comprised of a volunteer base that drives the organisation as a peer to peer service. The volunteers operate the daily function of the Charity goals. The Charity uses the Board of Trustees as advisors in voluntary role.

Management remuneration

Management remuneration is reviewed by the Trustees on at least an annual basis and decisions taken are ratified accordingly.

Fundraising

Although we do not actively fundraise from the public and we have not used any professional fundraisers in the year, the public can donate via our website and via Amazon Smile and we are registered with the Fundraising Regulator.

Risk management

The Trustees have assessed the financial risk management objectives and policies of the Trust. The exposure of the Trust to price risk, credit risk, liquidity risk, and cash flow is considered not material for the assessment of the assets, liabilities, financial position and surplus of the Trust.

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The trustees 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).

The law applicable to charities in England & Wales 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 charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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.

Page 5

MY BLACK DOG

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

TRUSTEES’ REPORT

APPOINTMENT OF AN INDEPENDENT EXAMINER

The charity fell below the threshold for audit in respect of the year under review and appointed Geoffrey Frost of Blue Spire Limited as examiner of the charity.

Approved by the trustees and signed on their behalf.

Trustee

Date 05 January 2023

Page 6

MY BLACK DOG

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

INDEPENDENT EXAMINER’S REPORT

Independent Examiner's Report to the Trustees of My Black Dog

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2022 which are set out on pages 8 to 14.

Responsibilities and basis of report

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’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do 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.

I 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

Geoffrey Frost BSc(Hons) FCA Blue Spire Limited, Statutory Auditor Cawley Priory South Pallant Chichester West Sussex PO19 1SY

06 January 2023 Date

Page 7

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

MY BLACK DOG

STATEMENT OF FINANCIAL ACTIVITIES

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
1
Total
EXPENDITURE ON:
Raising funds
2
Charitable activities
3
Total
Net income/expenditure)
Transfers between funds
8
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward (restated)
7, 8
Total funds carried forward
7, 8		 Unrestricted
Funds
£
268,301
268,301
2,186
167,267
169,453
98,848
-
98,848
100,572
199,420		 Restricted
Funds
£
1,500
1,500
-
520
520
980
-
980
-
980		 2022
Total
Funds
£
269,801
269,801
2,186
167,787
169,973
99,828
-
99,828
100,572
200,400		 2021
Total
Funds
£
134,124
134,124
-
60,163
60,163
73,961
-
73,961
26,611
100,572

None of the charity’s activities were acquired or discontinued during the above two financial years. The charity has no recognised gains or losses other than those dealt with in the statement of financial activities.

Page 8

MY BLACK DOG

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

BALANCE SHEET AS AT 31 MARCH 2022

Note
CURRENT ASSETS
Cash at hand and in bank
Total current assets
CURRENT LIABILITIES
Creditors: amounts falling due within one year
6
Net current assets/(liabilities)
Net assets/(liabilities)
THE FUNDS OF THE CHARITY
Restricted funds
7, 8
Unrestricted funds
7, 8
Total charity funds
The notes on pages 12 to 14 form part of the financial statements
Approved by the trustees and signed on their behalf		 £
£
204,254
204,254
3,854
200,400
200,400
980
199,420
200,400
2022		 £
£
102,696
102,696
2,124
100,572
100,572
-
100,572
100,572
2021		 £
£
102,696
102,696
2,124
100,572
100,572
-
100,572
100,572
2021
100,572
-
100,572
100,572

Trustee Date 05 January 2023

Page 9

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

MY BLACK DOG

ACCOUNTING POLICIES

General information, scope and basis of the financial statements

My Black Dog is an charity constituted as a Charitable Incorporated Organisation. The address of the principal office is given in the reference and administrative details section and the nature of the charity’s operations and principal activities are given in the trustees' report.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Incoming resources

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

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 within the control of the Charity and it is probable that they will be fulfilled.

Resources expended

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following expenditure headings:

● Raising funds; these include costs of fundraising and events.

● Charitable activities; these include grants to third parties and the costs of administering the charity inclusive of governance costs.

Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity.

Support and governance costs are those that assist the work of the charity but do not directly represent charitable activities. They are incurred directly in support of expenditure on the objects of the charity. Governance costs are those incurred in the governance of the charity and primarily associated with the constitution and statutory requirements.

VAT

The charity is not registered for VAT and is unable to recover VAT incurred. On this basis costs are recorded inclusive of VAT within the SOFA.

Taxation

The charity is considered to pass the tests set out in sections 521 to 536 Income Tax Act 2007 (ITA 2007), as such no income tax is payable on the charity's activities.

Debtors receivable and creditors payable within one year

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 expenditure.

Cash and cash equivalents

Cash and cash equivalents includes cash at bank and in hand.

Page 10

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

MY BLACK DOG

ACCOUNTING POLICIES

Fund accounting

Unrestricted general funds are incoming resources receivable or generated for use in furtherance of the general objects of the charity without restriction.

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 cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in note 8 of these financial statements.

Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

Page 11

MY BLACK DOG

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

NOTES TO THE FINANCIAL STATEMENTS

1. Donations and legacies
Income
Funds
£
Donations
268,301
268,301
2. Fundraising
Income
Funds
£
Fundraising costs
2,186
2,186
3. Charitable activities
Unrestricted
Funds
£
Charitable content
2,500
Merchandise and advertising
22,231
Printing, postage and stationery
361
Telephone, internet and website
2,156
Accountancy fees
5,360
Wages and salaries
101,678
Travel and subsistence
1,528
Training costs
-
Subscriptions
2,105
Bank and other similar charges
399
Consultancy
1,362
Other expenses
30
Equipment costs
503
Website and platform costs
23,175
Office space
2,199
Governance costs:
Independent examiner's fees
1,680
167,267
4. Independent auditor's and examiner's fees
Unrestricted
Funds
£
Examiner's fees - examination
1,680		 Restricted
Funds
£
1,500
1,500
Restricted
Funds
£
-
-
Restricted
Funds
£
-
520
-
-
-
-
-
-
-
-
-
-
-
-
-
-
520
Restricted
Funds
£
-		 2022
Total
Funds
£
269,801
269,801
2022
Total
Funds
£
2,186
2,186
2022
Total
Funds
£
2,500
22,751
361
2,156
5,360
101,678
1,528
-
2,105
399
1,362
30
503
23,175
2,199
1,680
167,787
2022
Total
Funds
£
1,680		 Income
Funds
£
134,124
134,124
Income
Funds
£
-
-
Unrestricted
Funds
£
-
17,921
201
-
3,780
30,448
-
4,225
789
217
-
237
1,145
-
-
1,200
60,163
Unrestricted
Funds
£
1,200		 Restricted
Funds
£
-
-
Restricted
Funds
£
-
-
Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Restricted
Funds
£
-		 2021
Total
Funds
£
134,124
134,124
2021
Total
Funds
£
-
-
2021
Total
Funds
£
-
17,921
201
-
3,780
30,448
-
4,225
789
217
-
237
1,145
-
-
1,200
60,163
2021
Total
Funds
£
1,200

Page 12

MY BLACK DOG

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

NOTES TO THE FINANCIAL STATEMENTS

5. Staff costs and related party transactions

Gross wages
Employer's national insurance costs (net of employment allowance)
Pension costs
Staff numbers:
Average head count		 2022
Total
Funds
£
94,475
5,230
1,973
101,678
2022
3.25		 2021
Total
Funds
£
30,357
-
91
30,448
2021
1.33

There were no employeeswho received employee benefits (excluding employer pension contributions) of more than £60,000 during the year under review or the comparative year.

The charity's key management personnel, detailed on page 1 of these financial statements, received employee benefits amounting to £84,135 consisting of salaries and employer pension contributions.

Travel and subsitence expenses amounting to £1,315 were reimbursed to and paid on behalf of the charity's key management personnel during the year (2020: £47).

None of the charity's trustees were remunerated nor received any other benefits from an employment with the charity or a related entity during the year under review or the comparative year.

None of the charity's trustees received nor had any expenses paid on their behalf during the year under review or the comparative year.

No donations were received from the charity's trustees with or without conditions attached.

There are no other related party transactions which require disclosure in these financial statements.

6. Creditors: amounts falling due within one year

6. Creditors: amounts falling due within one year
Other creditors
Accruals		 2022
£
2,174
1,680
3,854		 2021
£
924
1,200
2,124

7. Analysis of net assets between funds

Current assets
Current liabilities		 Unrestricted
Funds
£
203,274
(3,854)
199,420		 Restricted
Funds
£
980
-
980		 2022
Total
Funds
£
204,254
(3,854)
200,400		 Unrestricted
Funds
£
102,696
(2,124)
100,572		 Restricted
Funds
£
-
-
-		 2021
Total
Funds
£
102,696
(2,124)
100,572

Page 13

MY BLACK DOG

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

NOTES TO THE FINANCIAL STATEMENTS

8. Net movement in funds

8. Net movement in funds
Restricted funds - Marketing
Unrestricted funds
Restricted funds - Marketing
Unrestricted funds
Description of funds
Restricted funds - Marketing		 Year ended 31 March 2022
Total funds
brought
forward
£
-
100,572
100,572		 Total
Total
incoming
resources
resources
expended
£
£
1,500
(520)
268,301
(169,453)
269,801
(169,973)
Year ended 31 March		 Transfers
between
funds
£
-
-
-
2021		 Total funds
carried
forward
£
980
199,420
200,400
Total funds
brought
forward
£
-
26,611
26,611
Funds received		 Total
Total
Transfers
Total funds
incoming
resources
between
carried
resources
expended
funds
forward
£
£
£
£
-
-
-
-
134,124
(60,163)
-
100,572
134,124
(60,163)
-
100,572
to support advertising of the charity on social media.		 Total funds
carried
forward
£
-
100,572
100,572

9. Comparative statement of financial activities

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
1
Total
EXPENDITURE ON:
Raising funds
2
Charitable activities
3
Total
Net income/expenditure)
Transfers between funds
8
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward (restated)
7, 8
Total funds carried forward
7, 8		 Unrestricted
Funds
£
134,124
134,124
-
60,163
60,163
73,961
-
73,961
26,611
100,572		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-		 2021
Total
Funds
£
134,124
134,124
-
60,163
60,163
73,961
-
73,961
26,611
100,572

Page 14