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2025-12-31-accounts

CIO No. 025884

Brave Mind

Unaudited Financial Statements

for the year ended

31st December 2025

Wenn Townsend

Chartered Accountants

Oxford

Brave Mind

Contents

Page
Charity Information 1
Trustees’ Report 2 - 4
Independent Examiner’s Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Accounts 8 - 13

Brave Mind

Charity Information

Charity Registered Number 1193710
Registered Office 30 St Giles
Oxford
OX1 3LE
Trustees Simon Trower (resigned 31stJanuary 2026)
Graeme Tottle
Kathleen Bennett
James Gillard (resigned 3rdApril 2025)
David Cockram
Daniel Martin
Sophie Colwell (resigned 30thNovember 2025)
Sarah Williamson (appointed 30thJuly 2025)
Mark Coles (appointed 16thMay 2025)
Oliver Sindall (appointed 16thApril 2025)
Bankers Lloyds Bank plc
25 Gresham Street
London
EC2V 7HN
Independent Examiner B Hayes FCA
Wenn Townsend
30 St Giles
Oxford
OX1 3LE

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Brave Mind

Trustees’ Annual Report for the year ended 31st December 2025

The Trustees present their annual report and financial statements of the charity for the year ended 31st December 2025. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” in preparing the annual report and financial statements of the charity.

Trustees of the Charity

The trustees who have served during the year and up to the date of approval of these financial statements are as noted on page 1.

Objectives and activities

The charity’s objective, as set out in its governing document, is to use the power of sport to support people’s mental health.

We believe mental fitness is just as important as physical fitness. Our programmes help people understand their mental health, build confidence and know where to turn for support. Through simple, interactive and practical workshops, we help people understand how mental health works, spot when they or someone they care about might be struggling and feel confident asking for help.

We help people understand that mental health is something everyone has, just like physical health. It isn’t “good” or “bad” - it changes over time, like a journey with ups and downs. By understanding this, people can better cope with difficult moments, manage challenges and get support early when they need it. As a result, they feel more in control, supported, and less at risk of reaching a crisis - helping them stay well now and in the future.

Our programmes are built jointly with the people we seek to help and are led by sports psychologists. We create safe spaces in schools, colleges, universities, clubs and communities where confidence grows, stigma is challenged and everyone learns how to support each other.

Public benefit statement.

The Trustees confirm that they have complied with their duty under the Charities Act to have due regard to the Charity Commission’s guidance on public benefit in exercising their powers and duties.

Achievements and performance

Now in its sixth year, Brave Mind has continued to build on the strong foundations established in 2024, during which the charity invested in professionalisation, programme development, initial staffing, and strengthened governance.

During 2025, the charity delivered significant and sustainable growth across all areas of activity:

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Brave Mind

Trustees’ Annual Report for the year ended 31st December 2025

Achievements and performance (continued)

This increased capacity enabled the delivery of 16 sessions across schools, colleges, universities, sports organisations, and corporate workplaces.

Programmes reached a confirmed minimum of 780 beneficiaries (estimated up to 930) across five sectors, with international delivery taking place for the first time in Dubai in November 2025.

Across 13 partner organisations, delivery included:

Programme topics included Anxiety Management (“Anxiety Kit Bag”), Sports Psychology, Fear of Failure, Workplace Wellbeing, Mental Health Awareness, and Parent and Community engagement.

This breadth and depth of delivery reflects Brave Mind’s growing reputation as a trusted provider of evidence-informed mental health support within sport and adjacent sectors.

Alongside programme delivery, the charity continued to strengthen its governance, Board composition, and impact measurement capabilities. All progress during the year was underpinned by the strategic review and the adoption of a new Theory of Change.

Financial review (including reserves policy)

During the year ended 31 December 2025, on an accruals basis Brave Mind reported income of £102,761 (2024: £49,633), representing growth of 98% year on year. The charity recorded a net surplus of £21,600, compared to a deficit of £35,467 in 2024. The cash accounting view of our accounts the Charity uses for management purposes is materially similar (£20k net surplus).

This improved financial performance reflects the successful implementation of the charity’s growth strategy, focused on professionalisation and positioning Brave Mind to secure larger grant funding.

At the year-end:

The Trustees consider the current level of reserves to be appropriate for the charity’s stage of development, while recognising the need to continue strengthening financial resilience. The Board remains focused on diversifying income streams, securing new funding partnerships, and maintaining strong financial oversight to support sustainable growth.

The Board have subsequently undertaken further work in 2026 to strengthen financial policies and agree on methods of exact calculation for unrestricted reserves as the charities continues to grow and cost base continues to develop.

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Brave Mind

Trustees’ Annual Report (continued) for the year ended 31st December 2025

Structure, governance and management

The charity is a Charitable Incorporated Organisation (CIO) – registered on the 5th of March 2021.

During 2025, the charity continued to strengthen its governance and operational capacity:

To support delivery and growth, the charity appointed its first Programmes and Partnerships Manager, enhancing operational capacity and ensuring high-quality delivery for major funders and partners.

In addition, steps were taken to establish a Youth Advisory Board, ensuring that the voices of young people are embedded in decision-making and programme design. The Board will be co-chaired, with both chairs represented at Trustee level.

These developments represent a significant step forward in the continued professionalisation of Brave Mind and position the charity strongly for future growth and impact.

On behalf of the board

David Cockram Chair

19[th] June 2026

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Brave Mind

Independent Examiner’s Report to the Trustees of Brave Mind

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31st December 2025 which are set out on pages 6 to 13.

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

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.

B Hayes FCA Wenn Townsend

Chartered Accountants

Oxford

19[th] June 2026

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Brave Mind

Statement of Financial Activities for the year ended 31st December 2025

Note
Unrestricted Restricted Total Total
Funds Funds Funds Funds
2025 2025 2025 2024
£ £ £ £
Income and endowments from:
Donations 2 51,626 44,000 95,626 49,133
Charitable activities 3 7,136 - 7,136 500
───── ───── ───── ─────
Total income and endowments 58,762 44,000 102,762 49,633
───── ───── ───── ─────
Expenditure on:
Raising funds 4 7,453 - 7,453 11,434
Charitable activities 5 53,598 20,111 73,709 73,666
───── ───── ───── ─────
Total expenditure 61,051 20,111 81,162 85,100
───── ───── ───── ─────
Net income/(expenditure) (2,289) 23,889 21,600 (35,467)
Transfers between funds
 10 31,602 (31,602) - -
Net movement in funds 29,313 (7,713) 21,600 (35,467)
Funds balance at 1st January 2025 6,190 48,575 54,765 90,232
───── ───── ───── ─────
Funds balance at 31st December 2025 35,503 40,862 76,365 54,765
═════ ═════ ═════ ═════

All income and expenditure derive from continuing activities.

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Brave Mind

Balance Sheet As at 31st December 2025

2025
 2024
Note £ £
Current Assets
Cash at bank and in hand 74,893 57,945
Debtors 8 4,336 -
───── ─────
79,229 57,945
Creditors: amounts falling due
within one year 9 (2,864) (3,180)
───── ─────
Net Assets 76,365 54,765
═════ ═════
Funds
Unrestricted 35,503 6,190
Restricted 40,862 48,575
───── ─────
10 76,365 54,675
═════ ═════

The Trustees approved the financial statements on the 19[th] June, 2026

……………………………….

David Cockram Chair

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Brave Mind

Notes to the Accounts

for the year ended 31st December 2025

1. Summary of significant accounting policies

(a) General information and basis of preparation

Brave Mind is a charitable incorporated organisation in the United Kingdom. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities are noted 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 (FRS 102) 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.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note. The financial statements are prepared in sterling which is the functional currency of the charity.

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.

(b) Income recognition

All income is 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.

Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example, the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure. No further amount is included in the financial statements for volunteer time in line with the SORP (FRS 102).

(c) Expenditure recognition

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 headings:

Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

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Brave Mind

Notes to the Accounts

for the year ended 31st December 2025

1. Summary of significant accounting policies (continued)

(d) Support costs allocation

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs and governance costs. They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.

(e) Taxation

As a registered charity, it is not liable to taxation on its charitable activities. On the basis of these financial statements, no provision has been made for taxation.

(f) Fund accounting

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

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.

(g) Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset’s cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

(h) 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. They have concluded that the budgeted income and expenditure is sufficient with the level of reserves held for the charity to be able to continue as a going concern.

2. Donation income

Donation income
2025 2024
Total Total
£ £
Donations and grants 95,398 47,115
Clothing and merchandise 228 2,018
───── ─────
95,626 49,133
═════ ═════

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Brave Mind

Notes to the Accounts for the year ended 31st December 2025

3. Charitable activities
2025 2024
Total Total
£ £
Mental health programme funding - delivery 7,136 500
═════ ═════
4. Costs of raising funds
2025 2024
Total Total
£ £
Marketing and promotional materials 7,898 11,434
═════ ═════
5. Cost s of charitable activities
2025 2024
Total Total
£ £
Programme costs
Freelance support 51,827 47,072
Travel and other expenses 9,119 18,014
Donations - 331
───── ─────
Total direct charitable activities costs 60,946 65,417
═════ ─────
Support costs
Clothing 445 3,738
IT costs 4,954 3,581
Governance costs 990 930
Legal, banking and professional fees 4,598 -
Insurance and premises costs 1,776 -
───── ─────
Total support of charitable activities costs 12,763 8,249
───── ─────
Total costs of charitable activities 73,709 73,666
═════ ═════

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Brave Mind

Notes to the Accounts for the year ended 31st December 2025

6. Governance costs
2025 2024
Total Total
£ £
Examiner’s remuneration – year end accounts/examination 990 930
Examiner's remuneration – other services 2,946 -
═════ ═════
7. Trustees’ and key management personnel remuneration and expenses

The trustees neither received nor waived any remuneration during the current or preceding year.

One (2024: one) trustee was reimbursed for travel costs totalling £93 (2024: £3,026) during the year.

During the year there were no staff employed by the charity.

8. Debtors
2025 2024
Total Total
£ £
Funding/donations receivable 4,336 -
═════ ═════
9. Creditors: amounts falling due within one year
2025 2024
Total Total
£ £
Accruals 2,864 3,180
═════ ═════

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Brave Mind

Notes to the Accounts for the year ended 31st December 2025

10. Restricted funds

Balance at 1 Incoming Resources Transfers Balance at 31
January resources expended December
2025 2025
£ £ £ £ £
Barbarians Fund 6,091 10,000 (8,850) - 7,241
Fullers Pride Fund 31,602 15,000 (1,860) (31,602)
13,140
Caldy RFC Fund 4,666 - (259) - 4,407
Wasps RFC Fund 1,711 - (1,711) - -
Balfour Beatty Fund 2,621 - (2,621) - -
Rosslyn Park RFC Fund 1,884 - - - 1,884
Royal Foundation Fund - 9,000 - - 9,000
Berkshire Nurses Fund - 5,000 (4,810) - 190
David Riddell Memorial Fund - 5,000 - - 5,000
───── ───── ───── ───── ─────
48,575 44,000 (20,111) (31,602)
40,862
═════ ═════ ═════ ═════ ═════

The above funds represent funding raised and paid over to the charity, to be used for specific clubs or purposes. During the current period, it was confirmed with the donor of the Fullers Pride fund that these monies could be used by the charity for general purposes and not restricted in nature. These have therefore been transferred into general funds in 2025.

11. Net assets by fund

Unrestricted Restricted Total
funds funds funds
2025
£ £ £
Fund balances at 31 December 2025 are
represented by:
Net current assets 35,503 40,862 76,365
═════ ═════ ═════
Unrestricted Restricted Total
funds funds funds
2024
£ £ £
Fund balances at 31 December 2025 are
represented by:
Net current assets 6,190 48,575 54,765
═════ ═════ ═════

12. Related party transactions

One current trustee, Mr S Trower, was paid on an ad-hoc consultancy basis during the year for services provided to the charity. The amount paid was £1,440 (2024: £3,600), and none of these payments were made as compensation for their role as a trustee.

There were no other related party transactions during the year.

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Brave Mind

Notes to the Accounts for the year ended 31st December 2025

13. Comparative Statement of Financial Activities

Unrestricted Restricted Total Total
Funds Funds Funds Funds
2024 2024 2024 2023
£ £ £ £
Income and endowments from:
Donations 44,628 4,505 49,133 41,244
Charitable activities 500 - 500 54,960
───── ───── ───── ─────
Total income and endowments 45,128 4,505 49,633 96,204
───── ───── ───── ─────
Expenditure on:
Raising funds 11,434 - 11,434 4,527
Charitable activities 56,029 17,637 73,666 24,305
───── ───── ───── ─────
Total expenditure 67,463 17,637 85,100 28,832
───── ───── ───── ─────
Net income (22,335) (13,132) (35,467) 67,372
Transfers between funds 12,007 (12,007) - -
Net movement in funds (10,328) (25,139) (35,467) 67,372
Funds balance at 1st January 2024 16,518 73,714 90,232 22,860
───── ───── ───── ─────
Funds balance at 31st December 2024 6,190 48,575 54,765 90,232
═════ ═════ ═════ ═════

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