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2022-03-31-accounts

REGISTERED CHARITY NUMBER: 1184072

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 FOR

SWANSEA MIND

Bevan Buckland LLP Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA

SWANSEA MIND

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

Page
Reference and Administrative Details 1
Report of the Trustees 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Balance Sheet 5
Notes to the Financial Statements 6 to 12
Detailed Statement of Financial Activities 13

SWANSEA MIND

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2022

TRUSTEES T Condon (Chair) D Lowson S Elphick K Kalna J Williams PRINCIPAL ADDRESS 66 St Helens Road Swansea SA1 4BE REGISTERED CHARITY NUMBER 1184072 INDEPENDENT EXAMINER Bevan Buckland LLP Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA

Page 1

SWANSEA MIND

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

The trustees present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES

Objectives

The objectives of the Association shall be to promote the preservation of conditions of emotional or mental distress requiring advice or treatment, in association with Mind, in accordance with the aims and objectives of Mind. To this end, the charity provides drop in services, social activities, information, and self help groups designed to benefit the public. The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities and setting the grant making policy for the year.

FINANCIAL REVIEW

Reserves policy

Swansea Mind is aware that there is likely to be a significant change to the way in which it is funded in 2022/23 (delayed from 2020/21 due to COVID-19) and beyond. A transition plan has been drawn up in which funding received in previous years to cover management costs will be used after 2021/22 to cover the prospective shortfall in funding of core costs. A funded core costs reserve has been designated for this purpose and will be released back to the general fund over a three year period following a change to core funding.

The charity has also identified the need for a contingency fund. In the event of the charity being wound up this fund would cover six months core operating costs allowing for the proper closure of the charity. The charity reviews this fund annually to determine when it needs to be increased.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust and constitutes a charitable incorporated organisation (CIO).

Organisational structure

The Charity is guided and overseen by an Executive Committee (Voluntary Trustees) who meet on a regular basis and managed by a CEO with a small team of staff who run the organisation on a day to day basis

Approved by order of the board of trustees on 29 November 2022 and signed on its behalf by:

T Condon - Trustee

Page 2

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SWANSEA MIND

Independent examiner's report to the trustees of Swansea Mind

I report to the charity trustees on my examination of the accounts of Swansea Mind (the Trust) for the year ended 31 March 2022.

Responsibilities and basis of report

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

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of 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 Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records; or

  2. 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.

Henry Lloyd-Davies Institute of Chartered Accountants in England and Wales Bevan Buckland LLP Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA

14 December 2022

Page 3

SWANSEA MIND

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
22,849
Charitable activities
Charitable activities
10,427
Investment income
2
300
Total
33,576
EXPENDITURE ON
Charitable activities
Charitable activities
5,507
NET INCOME
28,069
Transfers between funds
8
(30,000)
Net movement in funds
(1,931)
RECONCILIATION OF FUNDS
Total funds brought forward
86,030
TOTAL FUNDS CARRIED FORWARD
84,099		 Restricted
funds
£
-
228,490
-
228,490
196,634
31,856
30,000
61,856
219,645
281,501		 2022
Total
funds
£
22,849
238,917
300
262,066
202,141
59,925
-
59,925
305,675
365,600		 2021
Total
funds
£
257,805
239,546
207
497,558
191,883
305,675
-
305,675
-
305,675

The notes form part of these financial statements

Page 4

SWANSEA MIND

BALANCE SHEET 31 MARCH 2022

Unrestricted
funds
Notes
£
CURRENT ASSETS
Debtors
6
1,196
Cash at bank and in hand
85,472
86,668
CREDITORS
Amounts falling due within one year
7
(2,569)
NET CURRENT ASSETS
84,099
TOTAL ASSETS LESS CURRENT LIABILITIES
84,099
NET ASSETS
84,099
FUNDS
8
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
funds
£
-
281,501
281,501
-
281,501
281,501
281,501		 2022
Total
funds
£
1,196
366,973
368,169
(2,569)
365,600
365,600
365,600
84,099
281,501
365,600		 2021
Total
funds
£
23,304
285,479
308,783
(3,108)
305,675
305,675
305,675
86,030
219,645
305,675

The financial statements were approved by the Board of Trustees and authorised for issue on 29 November 2022 and were signed on its behalf by:

T Condon - Trustee

The notes form part of these financial statements

Page 5

SWANSEA MIND

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds,any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Donations, are recognised when the Trust has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings.

Irrecoverable VAT

Irrecoverable VAT is charged against the expenditure heading for which it was incurred.

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.

Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds 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 any other purposes.

Designated funds are unrestricted funds earmarked by the Trustees for particular purposes falling in future time periods.

Restricted funds are funds subject to specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The aim and use of each restricted fund is set out in the notes to the financial statements.

Page 6

continued...

SWANSEA MIND

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

1. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Debtors

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

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

2.

INVESTMENT INCOME

INVESTMENT INCOME
2022 2021
£ £
Deposit account interest 300 207

3. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.

4. STAFF COSTS

The average monthly number of employees during the year was as follows:

Management
Administration
Project worker		 2022
2
1
4
7		 2021
1
-
4
5

No employees received emoluments in excess of £60,000.

Page 7

continued...

SWANSEA MIND

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

5.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
69,552
Charitable activities
Charitable activities
8,585
Investment income
207
Total
78,344
EXPENDITURE ON
Charitable activities
Charitable activities
4,198
NET INCOME
74,146
Transfers between funds
11,884
Net movement in funds
86,030
TOTAL FUNDS CARRIED FORWARD
86,030
6.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Prepayments and accrued income
7.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other creditors
Accrued expenses		 Restricted
funds
£
188,253
230,961
-
419,214
187,685
231,529
(11,884)
219,645
219,645
2022
£
1,196
2022
£
-
2,569
2,569		 Total
funds
£
257,805
239,546
207
497,558
191,883
305,675
-
305,675
305,675
2021
£
23,304
2021
£
586
2,522
3,108

Page 8

continued...

SWANSEA MIND

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

8. MOVEMENT IN FUNDS

At 1.4.21
£
Unrestricted funds
General Fund
41,030
Contingency Fund
45,000
86,030
Restricted funds
Mind
14,268
Counselling Services
25,290
Lloyds Enable
7,200
National Lottery CYP
9,321
C4B (CYP)
2,499
Community Fund in Wales
9,697
Lloyds Foundation
1,370
Core Restricted Fund
150,000
219,645
TOTAL FUNDS
305,675
Net movement in funds, included in the above are as follows:
Unrestricted funds
General Fund
Restricted funds
Swansea Bay University Health Board
Mind
Austin Bailey Grant
National Lottery CYP
C4B (CYP)
Community Fund in Wales
National Lottery Digital
Lloyds Foundation
Core Restricted Fund
Transformation Fund
TOTAL FUNDS		 Net
movement
in funds
£
28,069
-
28,069
8,046
-
-
17,376
(2,499)
(9,697)
(1,370)
20,000
31,856
59,925
Incoming
resources
£
33,576
82,016
41,176
2,833
27,684
-
-
23,855
-
20,000
30,926
228,490
262,066		 Transfers
between
At
funds
31.3.22
£
£
(30,000)
39,099
-
45,000
(30,000)
84,099
-
22,314
-
25,290
-
7,200
-
26,697
-
-
-
-
-
-
30,000
200,000
30,000
281,501
-
365,600
Resources
Movement
expended
in funds
£
£
(5,507)
28,069
(82,016)
-
(33,130)
8,046
(2,833)
-
(10,308)
17,376
(2,499)
(2,499)
(9,697)
(9,697)
(23,855)
-
(1,370)
(1,370)
-
20,000
(30,926)
-
(196,634)
31,856
(202,141)
59,925

Page 9

continued...

SWANSEA MIND

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

8. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General Fund
Contingency Fund
Restricted funds
Mind
Counselling Services
Lloyds Enable
National Lottery CYP
National Lottery Covid Response
C4B (CYP)
Mind Active Monitoring
Community Fund in Wales
Tier 0 (NPTCVS)
Lloyds Foundation
Core Restricted Fund
TOTAL FUNDS		 Net
movement
in funds
£
29,146
45,000
74,146
14,268
25,290
7,200
11,574
(429)
5,662
4,952
9,697
1,945
1,370
150,000
231,529
305,675		 Transfers
between
funds
£
11,884
-
11,884
-
-
-
(2,253)
429
(3,163)
(4,952)
-
(1,945)
-
-
(11,884)
-		 At
31.3.21
£
41,030
45,000
86,030
14,268
25,290
7,200
9,321
-
2,499
-
9,697
-
1,370
150,000
219,645
305,675

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General Fund
Contingency Fund
Restricted funds
Swansea Bay University Health Board
Mind
Austin Bailey Grant
Counselling Services
Lloyds Enable
National Lottery CYP
National Lottery Covid Response
C4B (CYP)
Mind Active Monitoring
Community Fund in Wales
Tier 0 (NPTCVS)
National Lottery Digital
Lloyds Foundation
Core Restricted Fund
TOTAL FUNDS		 Incoming
resources
£
33,344
45,000
78,344
82,016
18,992
6,000
25,435
7,200
31,123
4,114
22,603
33,676
14,868
16,623
2,064
4,500
150,000
419,214
497,558		 Resources
Movement
expended
in funds
£
£
(4,198)
29,146
-
45,000
(4,198)
74,146
(82,016)
-
(4,724)
14,268
(6,000)
-
(145)
25,290
-
7,200
(19,549)
11,574
(4,543)
(429)
(16,941)
5,662
(28,724)
4,952
(5,171)
9,697
(14,678)
1,945
(2,064)
-
(3,130)
1,370
-
150,000
(187,685)
231,529
(191,883)
305,675		 Resources
Movement
expended
in funds
£
£
(4,198)
29,146
-
45,000
(4,198)
74,146
(82,016)
-
(4,724)
14,268
(6,000)
-
(145)
25,290
-
7,200
(19,549)
11,574
(4,543)
(429)
(16,941)
5,662
(28,724)
4,952
(5,171)
9,697
(14,678)
1,945
(2,064)
-
(3,130)
1,370
-
150,000
(187,685)
231,529
(191,883)
305,675
74,146
-
14,268
-
25,290
7,200
11,574
(429)
5,662
4,952
9,697
1,945
-
1,370
150,000
231,529
305,675

Page 10

continued...

SWANSEA MIND

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

8. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General Fund
Contingency Fund
Restricted funds
Mind
Counselling Services
Lloyds Enable
National Lottery CYP
National Lottery Covid Response
C4B (CYP)
Mind Active Monitoring
Tier 0 (NPTCVS)
Core Restricted Fund
TOTAL FUNDS		 At 1.4.20
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Net
movement
in funds
£
57,215
45,000
102,215
22,314
25,290
7,200
28,950
(429)
3,163
4,952
1,945
170,000
263,385
365,600		 Transfers
between
funds
£
(18,116)
-
(18,116)
-
-
-
(2,253)
429
(3,163)
(4,952)
(1,945)
30,000
18,116
-		 At
31.3.22
£
39,099
45,000
84,099
22,314
25,290
7,200
26,697
-
-
-
-
200,000
281,501
365,600

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General Fund
Contingency Fund
Restricted funds
Swansea Bay University Health Board
Mind
Austin Bailey Grant
Counselling Services
Lloyds Enable
National Lottery CYP
National Lottery Covid Response
C4B (CYP)
Mind Active Monitoring
Community Fund in Wales
Tier 0 (NPTCVS)
National Lottery Digital
Lloyds Foundation
Core Restricted Fund
Transformation Fund
TOTAL FUNDS		 Incoming
resources
£
66,920
45,000
111,920
164,032
60,168
8,833
25,435
7,200
58,807
4,114
22,603
33,676
14,868
16,623
25,919
4,500
170,000
30,926
647,704
759,624		 Resources
Movement
expended
in funds
£
£
(9,705)
57,215
-
45,000
(9,705)
102,215
(164,032)
-
(37,854)
22,314
(8,833)
-
(145)
25,290
-
7,200
(29,857)
28,950
(4,543)
(429)
(19,440)
3,163
(28,724)
4,952
(14,868)
-
(14,678)
1,945
(25,919)
-
(4,500)
-
-
170,000
(30,926)
-
(384,319)
263,385
(394,024)
365,600		 Resources
Movement
expended
in funds
£
£
(9,705)
57,215
-
45,000
(9,705)
102,215
(164,032)
-
(37,854)
22,314
(8,833)
-
(145)
25,290
-
7,200
(29,857)
28,950
(4,543)
(429)
(19,440)
3,163
(28,724)
4,952
(14,868)
-
(14,678)
1,945
(25,919)
-
(4,500)
-
-
170,000
(30,926)
-
(384,319)
263,385
(394,024)
365,600
102,215
-
22,314
-
25,290
7,200
28,950
(429)
3,163
4,952
-
1,945
-
-
170,000
-
263,385
365,600

Page 11

continued...

SWANSEA MIND

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

8. MOVEMENT IN FUNDS - continued

Purpose of restricted funds

Swansea Bay University Health Board - To be used for the provision of well being and support services

Mind - To be used for sustainability and growth

Austin Bailey Grant - To be used for administration

Counselling Service - To fund the further development of the counselling services

C4B CYP - To be used for the provision of support services aimed at children and young people

My Generation - To fund the the project aimed at people over 50

Lloyds Enable - To fund business/stability development work

National Lottery Community Fund - To be used for the young person's project

Designated reserve - Contingency

The charity aims to build this fund up to £70,000 over the next few years. In the event of the charity being wound up this fund would cover six months core operating costs allowing for the proper closure of the charity.

Core Restricted Fund

The trustees previously carried out a review of funds built up by the charity and decided that where funding had been received for core costs this should be treated as restricted until spent.

9. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2022.

Page 12

SWANSEA MIND

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Investment income
Deposit account interest
Charitable activities
Grants
Total incoming resources
EXPENDITURE
Charitable activities
Wages
Pensions
Rates and water
Insurance
Light and heat
Telephone
Admin, postage & stationery
Sundries
Information and educational materials
Computer upgrades
Centre/drop-in
Travel expenses
Training and conferences
Rent
Building maintenance
Counselling
Consultancy
Project costs
Support costs
Governance costs
Accountancy and legal fees
Total resources expended
Net income		 2022
£
22,849
300
238,917
262,066
150,123
12,570
132
2,231
1,724
4,200
1,592
46
17
1,753
2,203
282
8,272
5,000
8,177
-
504
-
198,826
3,315
202,141
59,925		 2021
£
257,805
207
239,546
497,558
128,632
6,854
126
1,745
1,184
3,173
8,730
-
78
1,123
1,538
42
1,572
5,000
15,672
145
2,265
11,046
188,925
2,958
191,883
305,675

This page does not form part of the statutory financial statements

Page 13