2023-06-30-accounts - Black Minds Matter UK

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

CONTENTS
CONTENTS
WELCOME
LEGAL 8 ADMINISTRATIVE	INFORMATION.
TRUSTEES' REPORT
FINANCIAL REVIEW
TRUSTEES' RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS ....
INDEPENDENT AUDITOR'S	REPORT TO THE TRUSTEES OF BMM UK.	...16
STATEMENT OF FINANCIAL	ACTIVITIES	19
BALANCE SHEET		20
STATEMENT OF CASHFLOWS		21
NOTES TO THE FINANCIAL	STATEMENTS	...22

									Total funds	Total funds
										Last year 18
										months to
										30.06.22
Cash flows from operating		activities:
Net income for the reporting	period (as per the			statement		offinancial		activities)
									882,308	145,730
Adjustment for:
Debtors									16,667	(27,353)
Depreciation									1,381	402
Creditors									8,947	23,746
Net cash provided by (usedin operating				activities					891,409	142,525
Cash flows from investing		activities:
Purchase ofcomputers										4,143
Net cash provided by (usedininvesting				activities						4,143
Change in cash and cash		equivalents	in	the	reporting		period		891,409	138,382
Cash and cash equivalents		atthe beginning			ofthe reporting			period	138,382
Cash and cash equivalents		atthe end	of	the	reporting		period		1,029,791	138,382

Note 2		Accounting policies
2.1 INCOME
Recognition	ofIncome	These are induded in the Statement ofFinancial Activities (SoFA) when:
		the charity becomes entitled to the resources;
		it is more likely than not that the trustees will receive the resources; and
		the monetary value can be measured with sufitcient reliability.
		Funds raised in Oxfordshire Community Fund on behalf of BMM UK are not recognised in the SoFA until disbursements are applied for and received.
Offsetting		There has been no offsetting ofassets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102.
Income and	endowments	Afi income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount ofthe income receivable can be measured reliably.
ran an	ona ons	Grants and donations are only induded in the SoFAwhen the general income recognition criteria are met (5.10to 5.12 FRS102SORP)
Tax reclaims on donations and gifts		Gift Aid receivable is included in income when there isa valid dedaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part ofthat gift and is treated as an addition to the same fund as the initial donation unless the donor orthe terms ofthe appeal have specified otherwise.
Contractual performance grants	income and related	This is only induded in the SoFAonce the charity has provided the related goods or services or met the performance related conditions.
Donated goods		Donated goods are measured at fair value (the amount for which the asset could be exchanged) unless impractical to do so or the cost outweighs the benefit to BMM UK.
		Donated goods for resale are measured at fair value on initial recognition, which is the expected proceeds from sale less the expected costs ofsale, and recognised in 'Income from other trading activities' with the corresponding stock recognised in the balance sheet. On its sale the value of stock is charged against 'Income from other trading activities' and the proceeds from sale are also recognised as 'Income from other trading activitlesh
		Gifts in kind for use by the charity are incfuded in the SoFAas income from donations when receivable.
Donated services and facilities		Donated services and facilities are induded in the SOFAwhen received at the value ofthe gift to the charity provided the value ofthe gift can be measured reliably.
		Donated services and facilities that are consumed immediately are recognised as income with an equivalent amount recognised as an expense under the appropriate heading in the SOFA.
Volunteer help		The value ofany voluntary help received is not induded in the accounts but is described In the trustees' annual report.
Income from royalties and	Interest, dfvidends	This is induded in the accounts when receipt is probable and the amount receivable can be measured reliably.
Income from subscrlptlons	membership	Membership subscriptions received in the nature ofa gift are recognised in Donations and Legacies.
		Membership subscriptions which gives a member the right to buy services or other benefits are recognised as income earned from the provision ofgoods and services as income from charitable activities.
Settlement of claims	insurance	Insurance daims are only induded in the SoFAwhen the general income recognition criteria are met (5.10to 5.12FRS102 SORP) and are induded as an item ofother income in the SoFA.
Investment gains and losses		This indudes any realised or unrealised gains orlosses on the sale ofinvestments and any gain or loss resulting from revaluing investments to market value at the end ofthe year.

	'
~ ~		~
	~ ~	~ ~ i I
Note 2		Accounting policies
2.3 EXPENDITURE AND LIA8ILITIES
Uablllty recognltlon		Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount ofthe obligation can be measured with reasonable certainty.
Charitable acthrltles		Charitable expenditure comprises those costs incun.sd by the charity in the delivery of its scfivities and services for its beneficiarie. It indudes both costs that csn be allocated directly to such activities and those costs ofan indirect nature necessary to support them.
suppolt costs		Support costs have been afiocated between governance costs and other supporL Governance costs comprise afi costs involving public accountability ofthe charity and its compliance with regulation arid
		Support costs indude central functions and have been allocated to acfivtty cost categories on a basis consistent with the use ofresources, eg allocating property costs by floor areas, or per capita, staff
		costs by the time spent and other costs by their usage.
Grants with performance conditions		Where the charity gives a grant with conditions for its payment being a specific level ofservice or output to be provided, such grants sre only recognised in the SoFAonce the recipient ofthe grant hss provided the specified service or output.
		Where sums originally denominated in foreign currency have been indudsd in income, those sums
Foreign Currency		have been translated into sterling at the monthly average exchange rate for transacfions occuring in that month.
Grants payable
without performance conditions		Where there are no conditions attaching to the grant that enables the donor charity to realistically avoid the commitment, a liabifity for the full funding obligation must be recognised.
Redundancy	cost	The charity made no redundancy payments during the reporting period.
Deferred Income		No material item ofdeferred income hss been induded in the accounts.
Creditors		The charity has creditors which sre measured st settlement amounts less any trade discounts
Taxatlon		Black Minds Matter isa registered charity, snd as such its income and gains falling within Sections 471 to 489ofthe Corporation TaxAct 2010or Secfion 256Taxation and Chargeable Gains Act 1992are
		exempt from corporation tsx in respect ofincome and capital gains received to the extent that they are applied exdusively to its charitable purposes.
Provisions for liabilities		A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate ofthe amount required to settle the obligation at the reporting date
Basicfinancial Instruments		The charity accounts for bash financial instruments on initial recognition ss per paragraph 11.7 FRS102SORP. Subsequent measurement is as per paragraphs 11.17to 11.19,FRS102SORP.
Pension		The charity operates and defined contribution workplace pension scheme and the pension charge represents the amounts payable by the charity to the fund in the respect ofthe year.
2.4ASSETS
		These srs capitalised ifthey can be used for more then one year, and cost st least 9500
charity		Ttley are valued st cost or ifgifted, at the value to the charity on receipt.
		Depreciation is calculated at a rate to write offthe cost less estimated residual value oftangible fixed assets over its expected life.
		-Computer Equipment 3Years Straight Line
Stocks and work		Goods orservices provided as part ofa charitsbkt activity are measured at net realisable value based
ln progress		on the service potential provided by items ofstock.
Debtors		Debtors (induding trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.
Cash and cash equivalents		Cash and cash equivalents Include cash in hand, deposits held at call with banks snd other short-term liquid investments with original maturlties ofthree months or less.
		Unrestricted income funds are general funds that are available for use st the trustees discretion in
Fund sbucture		furtherance ofthe objectives ofthe charity.
		Restricted income funds are those donated for use in s particular area or for specific purposes, the use ofwhich Isrestricted to that area or purpose.
Leases		Leases in which substantially afi the risks and rewards ofownership are obtained by the lessor are dassied as operating leases. Payments made under operating leases are charged on a straight4ine basis over the lease term.

			'
	~			~
		~ ~	~	~	I
Note 4				Analysis ofexpenditure
											This	year		18months to 30th June 2022
															Restricted
										Unrestricted	Restricted			nrestrlcted	income
Expenditure funds:		on raising			Fundraising					funds E	Income 5	funds	Total funds f	funds	funds	Total funds E
					Promotional					4346			4346	13072	5238	18310
					Website Costs					6306			7806	13043		13043
												8700	9444	7068		7068.
					Total expenditure			on raising funds
															Restricted
Expenditure		on								Unrestricted funds	Restricted income funds		Total funds	Unrestricted funds	Income funds	Total funds
charitable	activities:
					Bank Charges Computer & Internet Consultancy Costs Depredation CEO Remuneration Entertaining Equipment leasing Exchange Rate Variance					2337 101877 1 381 30234 987		1 200	3537 101877 1 381 30234 987	77 940 402 21415 559 108	1 350 24938	3359 25878' 402 21415 559 108
					Health &Safety
					Insurance Payroll Expenses Recruitment Tax, Nl and Pension Contribubons Training Travelling expenses Therapueiic Work; Individual Sessions Therapuetic Work Black Trans Foundation Therapuetic Work: Workshops					1 319 149936 429 14404 1 931 1 047 600 2,170	5765 99685 8355		1 319 149936 429 14404 7695 1047 100,285 8355 2 170	1 036 115935 5460 5261 17738 157	614791 8695	1,036 115935 5261 632 529 8695 157
					Audit &Accounting Fees Oflice 8 Administration					39649			39649
					Professional Fees					7744			7744	3160		3 160
										27568			27566	100162		100162
					Total expenditure	on	charitable		activities
															Restricted
										Unrestricted	Restricted			nrestricted	income
Expenditure		on Other								funds	income funds		Total funds	funds	funds	Total funds
activities:				Merchandise Storage Merchandise Management						832			832	843		843
				In Kind Support Expenditure										925		925
										2350			2350	81 724		81 724
					Total expenditure		on	other	activities
TOTAL EXPENDITURE										398832	125205		524 036	428 897	655 558	1,084455

*Key: R-matrfcfsd Income funds,	*Key: R-matrfcfsd Income funds,	*Key: R-matrfcfsd Income funds,	*Key: R-matrfcfsd Income funds,	*Key: R-matrfcfsd Income funds,	and U-unmastered funds	and U-unmastered funds
													Fund							Fund
						Purpose	and Restrictions						balances brought						Gains and	balances carried
													forward			Income	Expenditure	Transfers	losses	forward
Fund	names												E			E		E	E	E
Jo Malone					Restncted	to fundi		There	cosh							55750	55750
Marsh & McLannan					Restricted	to fundin		Vusbsite	Develo		nt		71	360				1 360
MIND					Restricted	to fundin		MIND There			costs					83221	21 140
NHS					Restricted	lo fundi		NHS There		costs							028
New	Normal	Fund			Restricted	to fundin		There	costs							8 100		8 100
0 en	Soda		Foundation		Restricted Governance	to funding Su rt		Ststf Training		and			19336				15665
Kin	Baudouin		Foundation	& NIKE	Restricted	to fundi		There	coats				12	505			8355
TEF					Restricted	to fundin		TEFThere costs									5410	5410
Other	Restricted				diture on There			Costs								3000	11858	8858
									Total		Restricted		103	201		170,070	125,205	65,193
					Unrestricte	funding	avaialble		for charitable
Unrestricted		Income			acllvbas								42	529		1 236274	398832	65 193
										Total Funds
12.2	Transfers between			funds
This	ear
Between restricted and unmsirictsd funds					Reason fortransfer and where endowment ls converted To transfer racatagorised restricted funds to unrestricted							to income		le	I	ower for Its conversion		Amount 71,3SO
Between restricted and unrestricted					To transfer expenditure deficit on 'Therapy Costs' from						restricted	to	unrestricte		funds.
funds																		6 168

*Keyr R-restricted Income funds,	*Keyr R-restricted Income funds,	*Keyr R-restricted Income funds,	*Keyr R-restricted Income funds,	and V-unrestricted funds	and V-unrestricted funds
											Fund								Fund
					Purpose	and Restrictions					balances brought							Gains and	balances carried
											forward			Income		Expenditum	Transfers	losses	forward
Fund names											6					8	8	8	8
Foot Locker BV				Restrided	to fundin		There	costs						13116		13116
H8M				Restricted	to fundi		There	costs						41 869		41 869
HM Jefferies				Restricted	to fundin		There	costs						50000		50000
Ho swell				Restricted	to fundin		There	ants						24 354		24 354
Jefliaries				Residded	to fundin		There	costs						46603		46603
Jo Malone				Restricted	to fundi		There	costs						45 962		45962
Marsh & McLennsn				Restricted	to fundi		Websits	Deveio		nt				71360
Pentane				Restricted	to fundin		There	costs						24 875		24 875
Sanctus London	Ltd			Restrided	to fundin		There	costs						9798		9Tge
The Hoebk Fare				Restricted	to fundin		There	costa						10000		10000
0 n Soda Foundation				Restrided Governance	to funding Su rt		Staff Training		and					44 819		25483
Kin Bsudouin Foundation				Restricted	to fundin		There	costs						21 200		8695
Corporetes (Restr		sec)		Restricted	to fundin		There	costs								I 334
Individuals (Crowdfund			2020)	Restricted	to fundin		There	costs						738		38
Major Donoe				Restridsd	to fundin		There	costs						2 389		2369
Smog Trusts snd	Foundations			Restricted	to fund		There	costs								589
Other Restricted				nditurs on There Costs												349793	349793
								Total Restrtctad						40e,gs6		655,558	349,793
				Unrestricted	funding		avsislble	for charitable
Unrestricted Income				activtl as										821 219		428 897	349793
									TotalFunds
1?4 Transfers	between funds
Last ear
Between restricted		snd	unrestricted	Reasonfortransferand where endowmentls converted Totransfer expenditure deficit on 'Therapy Costs' from restricted							toincome to unmstrided	le	~I funds.	werforlts	conversion		Amount
funds																	349793