BRIDGING THE GAP MIND MATTERS- CIO Trustee Annual Report 2022
BTG MIND MATTERS CIO TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2022
- 1 -
The Trustees present their annual report and financial statements for the year ended 31 December 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Constitution, the Charities Act 2011 and "Accounting and Reporting by Charities:
Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).
Objectives and activities: To improve the mental and physical health of residents in Cheshire East. Specifically we aim to help those suffering with conditions such as depression, anxiety and physical conditions that commonly co exist and exacerbate symptoms such as obesity and other chronic illness.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance -
Throughout 2022, we continued our unwavering commitment to making a positive impact on the lives of those we serve. We are proud to report that during this year, we were able to provide crucial support to 77 applicants through our Respite Programme. These individuals faced diverse challenges, and our organisation stepped up to assist them in the following ways:
-
Counselling Services: We offered counselling and emotional support to individuals dealing with mental health issues, helping them manage their struggles and find a path to recovery.
-
Physical Therapy: Our physical therapy programs not only expanded in terms of the number of providers but also in the depth and breadth of services offered. We provided mental health support to 77 beneficiaries, aiding in their physical rehabilitation and improving their quality of life.
-
Business Sponsorship: Thanks to the generosity of local businesses participating in monthly sponsorships we have been able to continue to provide our support to individuals seeking early intervention help with their mental health.
We are profoundly grateful for the dedication and support of our trustees, staff, and donors. With their unwavering commitment, we remain poised to create a positive difference in the lives of those who rely on our services.
Financial review -
The year 2022 proved to be challenging in terms of finances, as rising costs of living and an everchanging economic landscape demanded adaptability and resilience. Despite these challenges, we persevered in our mission to provide support to those in need. Our financial situation was characterised by a commitment to maintaining the quality of our services. We diligently manage our resources to ensure the sustainability of our programs while facing increased costs. We are proud to report that our commitment to financial responsibility has allowed us to maintain our operations effectively.
To ensure we can continue to provide essential services in the face of economic uncertainty, we have established a robust reserves policy. We aim to maintain a minimum monthly income of £5,000 to cover our committed costs, which include staff salaries, program maintenance, and operational expenses. This financial cushion allows us to weather short-term financial challenges and maintain our services even in the face of unforeseen disruptions.
Our reserve funds are equivalent to two months of operating expenses (currently three), which provides a substantial safety net. This ensures that, in the event of unforeseen circumstances or economic downturns, we have the capacity to continue our operations without sacrificing the quality of our services. This financial stability positions us to fulfil our mission to reach 1000 people in need and make a lasting impact in the lives of those we serve.
Structure, governance and management -
The charity is a Charitable Incorporated Organisation which is governed by it's Constitution dated 14 August 2020. The Trustees who served during the year and up to the date of signature of the financial statements were:
Victoria Willis Dr Victoria Brewster Karen Halton Carl Gola (Appointed 7 April 2023) Megan Fenney (Appointed 7 April 2023)
Apart from the first charity trustees, every trustee must be appointed by a resolution passed at a properly convened meeting of the trustees. In selecting individuals for appointment the trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.
None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and have no personal responsibility for settling its debts and liabilities in the event of a winding up.
The trustees' report was approved by the Board of Trustees.
Victoria Willis Trustee 18 October 2023
Charity registration number 1192348
BTG MIND MATTERS CIO
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
BTG MIND MATTERS CIO
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Victoria Willis Dr Victoria Brewster Karen Halton Carl Gola (Appointed 7 April 2023) Megan Fenney (Appointed 7 April 2023) Charity number 1192348 Independent examiner Marie Shenton - FCCA Hammond McNulty LLP Bank House Market Square Congleton Cheshire CW12 1ET
BTG MIND MATTERS CIO
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 10 |
BTG MIND MATTERS CIO
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022
The Trustees present their annual report and financial statements for the year ended 31 December 2022.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Constitution, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).
Objectives and activities
To improve the mental and physical health of residents in Cheshire East. Specifically we aim to help those suffering with conditions such as depression, anxiety and physical conditions that commonly co exist and exacerbate symptoms such as obesity and other chronic illness.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
Throughout 2022, we continued our unwavering commitment to making a positive impact on the lives of those we serve. We are proud to report that during this year, we were able to provide crucial support to 77 applicants through our Respite Programme. These individuals faced diverse challenges, and our organisation stepped up to assist them in the following ways: 1. Counselling Services: We offered counselling and emotional support to individuals dealing with mental health issues, helping them manage their struggles and find a path to recovery.
-
Physical Therapy: Our physical therapy programs not only expanded in terms of the number of providers but also in the depth and breadth of services offered. We provided mental health support to 77 beneficiaries, aiding in their physical rehabilitation and improving their quality of life.
-
Business Sponsorship: Thanks to the generosity of local businesses participating in monthly sponsorships we have been able to continue to provide our support to individuals seeking early intervention help with their mental health.
We are profoundly grateful for the dedication and support of our trustees, staff, and donors. With their unwavering commitment, we remain poised to create a positive difference in the lives of those who rely on our services.
Financial review
The year 2022 proved to be challenging in terms of finances, as rising costs of living and an ever-changing economic landscape demanded adaptability and resilience. Despite these challenges, we persevered in our mission to provide support to those in need. Our financial situation was characterised by a commitment to maintaining the quality of our services. We diligently manage our resources to ensure the sustainability of our programs while facing increased costs. We are proud to report that our commitment to financial responsibility has allowed us to maintain our operations effectively.
To ensure we can continue to provide essential services in the face of economic uncertainty, we have established a robust reserves policy. We aim to maintain a minimum monthly income of £5,000 to cover our committed costs, which include staff salaries, program maintenance, and operational expenses. This financial cushion allows us to weather short-term financial challenges and maintain our services even in the face of unforeseen disruptions.
Our reserve funds are equivalent to two months of operating expenses (currently three), which provides a substantial safety net. This ensures that, in the event of unforeseen circumstances or economic downturns, we have the capacity to continue our operations without sacrificing the quality of our services. This financial stability positions us to fulfil our mission to reach 1000 people in need and make a lasting impact in the lives of those we serve.
Structure, governance and management
The charity is a Charitable Incorporated Organisation which is governed by it's Constitution dated 14 August 2020.
The Trustees who served during the year and up to the date of signature of the financial statements were: Victoria Willis Dr Victoria Brewster Karen Halton Carl Gola (Appointed 7 April 2023) Megan Fenney (Appointed 7 April 2023)
- 1 -
BTG MIND MATTERS CIO
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Apart from the first charity trustees, every trustee must be appointed by a resolution passed at a properly convened meeting of the trustees. In selecting individuals for appointment the trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.
None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and have no personal responsibility for settling its debts and liabilities in the event of a winding up.
The trustees' report was approved by the Board of Trustees.
Victoria Willis
Trustee
18 October 2023
- 2 -
BTG MIND MATTERS CIO
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF BTG MIND MATTERS CIO
I report to the Trustees on my examination of the financial statements of BTG Mind Matters CIO (the charity) for the year ended 31 December 2022.
Responsibilities and basis of report
As the Trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no 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 2011 Act; or
-
2 the financial statements do not accord with those records; or
-
3 the financial statements 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 financial statements to be reached.
Marie Shenton - FCCA
Hammond McNulty LLP Bank House Market Square Congleton Cheshire CW12 1ET
Dated: 18 October 2023
- 3 -
BTG MIND MATTERS CIO
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2022
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2022 | 2021 | ||
| Notes | £ | £ | |
| Income and endowments from: | |||
| Donations | 2 | 24,193 | 51,730 |
| Other income | 3 | 3,240 | - |
| Total income | 27,433 | 51,730 | |
| Expenditure on: | |||
| Costs for raising funds | 4 | 5,695 | 440 |
| Charitable activities | 5 | 35,175 | 23,812 |
| Total expenditure | 40,870 | 24,252 | |
| Net (expenditure)/income for the year/ | |||
| Net movement in funds | (13,437) | 27,478 | |
| Fund balances at 1 January 2022 | 14,133 | (13,345) | |
| Fund balances at 31 December 2022 | 696 | 14,133 |
The statement of financial activities includes all gains and losses recognised in the year.
These accounts have been prepared on a receipts and payments basis.
- 4 -
BTG MIND MATTERS CIO
BALANCE SHEET
AS AT 31 DECEMBER 2022
| Notes Current assets Cash at bank and in hand Creditors: amounts falling due within one year 10 Net current assets Creditors: amounts falling due after more than one year 11 Net assets Income funds Unrestricted funds - general |
2022 £ 11,147 (2,967) |
£ 8,180 (7,484) 696 696 696 |
2021 £ £ 27,478 (2,894) 24,584 (10,451) 14,133 14,133 14,133 |
|---|---|---|---|
The financial statements were approved by the Trustees on 18 October 2023
Victoria Willis Trustee
- 5 -
BTG MIND MATTERS CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
1 Accounting policies
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's [governing document], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
1.5 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
- 6 -
BTG MIND MATTERS CIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
1 Accounting policies
(Continued)
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
2 Donations
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| general | general | |
| 2022 | 2021 | |
| £ | £ | |
| Donations and gifts | 15,960 | 41,395 |
| Grants | 8,233 | 10,335 |
| 24,193 | 51,730 | |
| Other income | ||
| Unrestricted | Total | |
| funds | ||
| general | ||
| 2022 | 2021 | |
| £ | £ | |
| Other income | 40 | - |
| Rent received | 3,200 | - |
| 3,240 | - |
3 Other income
- 7 -
BTG MIND MATTERS CIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
4 Costs for raising funds
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| general | general | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Fundraising costs | |||
| Advertising | 695 | 440 | |
| Other fundraising costs | 5,000 | - | |
| Fundraising costs | 5,695 | 440 | |
| 5,695 | 440 | ||
| 5 | Charitable activities | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Consultancy | 25,439 | 19,740 | |
| Share of support costs (see note 6) | 8,801 | 3,472 | |
| Share of governance costs (see note 6) | 935 | 600 | |
| 35,175 | 23,812 |
- 8 -
BTG MIND MATTERS CIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
6 Support costs
| Support costs Governance costs £ £ Rent 5,401 - Light and heat 692 - Repairs and maintenance 990 - Bank interest 301 - Travelling 221 - Professional fees - - Computer costs 647 - Secretarial costs 549 - Bank charges - - Audit fees - 935 8,801 935 Analysed between Charitable activities 8,801 935 |
2022 Support costs Governance costs £ £ £ 5,401 2,691 - 692 - - 990 - - 301 113 - 221 - - - 402 - 647 168 - 549 - - - 98 - 935 - 600 9,736 3,472 600 9,736 3,472 600 |
2021 £ 2,691 - - 113 - 402 168 - 98 600 |
|---|---|---|
| 4,072 | ||
| 4,072 |
Governance costs includes payments to the Independent Examiners of £935 (2021- £600).
7 Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
£15,133 was paid to Fierce Spirit Cheshire Ltd of which Victoria Willis is director. This is in return for consultancy services provided to the charity.
8 Employees
The average monthly number of employees during the year was:
| 2022 | 2021 | |
|---|---|---|
| Number | Number | |
| Trustees | 5 | 3 |
| Volunteers | 2 | 2 |
| Total | 7 | 5 |
There were no employees whose annual remuneration was more than £60,000.
9 Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
- 9 -
BTG MIND MATTERS CIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
| 10 Creditors: amounts falling due within one year Notes Bank loans 11 Creditors: amounts falling due after more than one year Notes Bank loans |
2022 £ 2,967 2022 £ 7,484 |
2021 £ 2,894 |
|---|---|---|
| 2021 £ 10,451 |
12 Related party transactions
There were no disclosable related party transactions during the year (2021 - none).
- 10 -
Charity registration number 1192348
BTG MIND MATTERS CIO
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
BTG MIND MATTERS CIO
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Victoria Willis Dr Victoria Brewster Karen Halton Carl Gola (Appointed 7 April 2023) Megan Fenney (Appointed 7 April 2023) Charity number 1192348 Independent examiner Marie Shenton - FCCA Hammond McNulty LLP Bank House Market Square Congleton Cheshire CW12 1ET
BTG MIND MATTERS CIO
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 10 |
BTG MIND MATTERS CIO
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022
The Trustees present their annual report and financial statements for the year ended 31 December 2022.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Constitution, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).
Objectives and activities
To improve the mental and physical health of residents in Cheshire East. Specifically we aim to help those suffering with conditions such as depression, anxiety and physical conditions that commonly co exist and exacerbate symptoms such as obesity and other chronic illness.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
Throughout 2022, we continued our unwavering commitment to making a positive impact on the lives of those we serve. We are proud to report that during this year, we were able to provide crucial support to 77 applicants through our Respite Programme. These individuals faced diverse challenges, and our organisation stepped up to assist them in the following ways: 1. Counselling Services: We offered counselling and emotional support to individuals dealing with mental health issues, helping them manage their struggles and find a path to recovery.
-
Physical Therapy: Our physical therapy programs not only expanded in terms of the number of providers but also in the depth and breadth of services offered. We provided mental health support to 77 beneficiaries, aiding in their physical rehabilitation and improving their quality of life.
-
Business Sponsorship: Thanks to the generosity of local businesses participating in monthly sponsorships we have been able to continue to provide our support to individuals seeking early intervention help with their mental health.
We are profoundly grateful for the dedication and support of our trustees, staff, and donors. With their unwavering commitment, we remain poised to create a positive difference in the lives of those who rely on our services.
Financial review
The year 2022 proved to be challenging in terms of finances, as rising costs of living and an ever-changing economic landscape demanded adaptability and resilience. Despite these challenges, we persevered in our mission to provide support to those in need. Our financial situation was characterised by a commitment to maintaining the quality of our services. We diligently manage our resources to ensure the sustainability of our programs while facing increased costs. We are proud to report that our commitment to financial responsibility has allowed us to maintain our operations effectively.
To ensure we can continue to provide essential services in the face of economic uncertainty, we have established a robust reserves policy. We aim to maintain a minimum monthly income of £5,000 to cover our committed costs, which include staff salaries, program maintenance, and operational expenses. This financial cushion allows us to weather short-term financial challenges and maintain our services even in the face of unforeseen disruptions.
Our reserve funds are equivalent to two months of operating expenses (currently three), which provides a substantial safety net. This ensures that, in the event of unforeseen circumstances or economic downturns, we have the capacity to continue our operations without sacrificing the quality of our services. This financial stability positions us to fulfil our mission to reach 1000 people in need and make a lasting impact in the lives of those we serve.
Structure, governance and management
The charity is a Charitable Incorporated Organisation which is governed by it's Constitution dated 14 August 2020.
The Trustees who served during the year and up to the date of signature of the financial statements were: Victoria Willis Dr Victoria Brewster Karen Halton Carl Gola (Appointed 7 April 2023) Megan Fenney (Appointed 7 April 2023)
- 1 -
BTG MIND MATTERS CIO
TRUSTEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
Apart from the first charity trustees, every trustee must be appointed by a resolution passed at a properly convened meeting of the trustees. In selecting individuals for appointment the trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.
None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and have no personal responsibility for settling its debts and liabilities in the event of a winding up.
The trustees' report was approved by the Board of Trustees.
Victoria Willis
Trustee
18 October 2023
- 2 -
BTG MIND MATTERS CIO
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF BTG MIND MATTERS CIO
I report to the Trustees on my examination of the financial statements of BTG Mind Matters CIO (the charity) for the year ended 31 December 2022.
Responsibilities and basis of report
As the Trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
I understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no 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 2011 Act; or
-
2 the financial statements do not accord with those records; or
-
3 the financial statements 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 financial statements to be reached.
Marie Shenton - FCCA
Hammond McNulty LLP Bank House Market Square Congleton Cheshire CW12 1ET
Dated: 18 October 2023
- 3 -
BTG MIND MATTERS CIO
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2022
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2022 | 2021 | ||
| Notes | £ | £ | |
| Income and endowments from: | |||
| Donations | 2 | 24,193 | 51,730 |
| Other income | 3 | 3,240 | - |
| Total income | 27,433 | 51,730 | |
| Expenditure on: | |||
| Costs for raising funds | 4 | 5,695 | 440 |
| Charitable activities | 5 | 35,175 | 23,812 |
| Total expenditure | 40,870 | 24,252 | |
| Net (expenditure)/income for the year/ | |||
| Net movement in funds | (13,437) | 27,478 | |
| Fund balances at 1 January 2022 | 14,133 | (13,345) | |
| Fund balances at 31 December 2022 | 696 | 14,133 |
The statement of financial activities includes all gains and losses recognised in the year.
These accounts have been prepared on a receipts and payments basis.
- 4 -
BTG MIND MATTERS CIO
BALANCE SHEET
AS AT 31 DECEMBER 2022
| Notes Current assets Cash at bank and in hand Creditors: amounts falling due within one year 10 Net current assets Creditors: amounts falling due after more than one year 11 Net assets Income funds Unrestricted funds - general |
2022 £ 11,147 (2,967) |
£ 8,180 (7,484) 696 696 696 |
2021 £ £ 27,478 (2,894) 24,584 (10,451) 14,133 14,133 14,133 |
|---|---|---|---|
The financial statements were approved by the Trustees on 18 October 2023
Victoria Willis Trustee
- 5 -
BTG MIND MATTERS CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
1 Accounting policies
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's [governing document], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
1.5 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
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BTG MIND MATTERS CIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022
1 Accounting policies
(Continued)
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
2 Donations
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| general | general | |
| 2022 | 2021 | |
| £ | £ | |
| Donations and gifts | 15,960 | 41,395 |
| Grants | 8,233 | 10,335 |
| 24,193 | 51,730 | |
| Other income | ||
| Unrestricted | Total | |
| funds | ||
| general | ||
| 2022 | 2021 | |
| £ | £ | |
| Other income | 40 | - |
| Rent received | 3,200 | - |
| 3,240 | - |
3 Other income
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BTG MIND MATTERS CIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
4 Costs for raising funds
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| general | general | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Fundraising costs | |||
| Advertising | 695 | 440 | |
| Other fundraising costs | 5,000 | - | |
| Fundraising costs | 5,695 | 440 | |
| 5,695 | 440 | ||
| 5 | Charitable activities | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Consultancy | 25,439 | 19,740 | |
| Share of support costs (see note 6) | 8,801 | 3,472 | |
| Share of governance costs (see note 6) | 935 | 600 | |
| 35,175 | 23,812 |
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BTG MIND MATTERS CIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
6 Support costs
| Support costs Governance costs £ £ Rent 5,401 - Light and heat 692 - Repairs and maintenance 990 - Bank interest 301 - Travelling 221 - Professional fees - - Computer costs 647 - Secretarial costs 549 - Bank charges - - Audit fees - 935 8,801 935 Analysed between Charitable activities 8,801 935 |
2022 Support costs Governance costs £ £ £ 5,401 2,691 - 692 - - 990 - - 301 113 - 221 - - - 402 - 647 168 - 549 - - - 98 - 935 - 600 9,736 3,472 600 9,736 3,472 600 |
2021 £ 2,691 - - 113 - 402 168 - 98 600 |
|---|---|---|
| 4,072 | ||
| 4,072 |
Governance costs includes payments to the Independent Examiners of £935 (2021- £600).
7 Trustees
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
£15,133 was paid to Fierce Spirit Cheshire Ltd of which Victoria Willis is director. This is in return for consultancy services provided to the charity.
8 Employees
The average monthly number of employees during the year was:
| 2022 | 2021 | |
|---|---|---|
| Number | Number | |
| Trustees | 5 | 3 |
| Volunteers | 2 | 2 |
| Total | 7 | 5 |
There were no employees whose annual remuneration was more than £60,000.
9 Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
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BTG MIND MATTERS CIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
| 10 Creditors: amounts falling due within one year Notes Bank loans 11 Creditors: amounts falling due after more than one year Notes Bank loans |
2022 £ 2,967 2022 £ 7,484 |
2021 £ 2,894 |
|---|---|---|
| 2021 £ 10,451 |
12 Related party transactions
There were no disclosable related party transactions during the year (2021 - none).
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