Charity Number.. 1212302 HEALTHY BRAINS GLOBAL INITIATIVE UK Financial statements for the period ended 31 December 2025 Healthy Brains Global Initiative rth ID". 6652984fea51a99bfec08f8e0107637569a1ef23 HEALTHY BRAINS GLOBAL INtnATIVE UK Reference and administration information Charlty number 1212302 Other Names HBGI UK Contsct address CIO Sedulo London Office 605 Albert House 256- 260 Old Street London United Kingdom ECIV9DD Trustees Trustees who served during the year and up to the date of this report were as follows.. Garen Kent 5t3glin Professor Timothy James Greaves Kendall Neeria Birla Michelle Akande George Henry Fraser swan Rajvinder Kaur Khaira Dr Stephen Charles Duckworth OBE Chair Key mana8ement personnel The trustees consider themselves to be key management personnel gNen the size of the charity during the period of these financial statements. Independent Examlner Adri8n Phillips FCA Arlo Accountancy Limited 107 Valley Road Stockport SK4 208 rth ID". 6652984fea51a99bfec08f8e0107637569a1ef23 Healthy Brians Global Initiative UK Trustees, annual report for the period ending 31 December 2025 The trustees present their report and the unaudited financial statements for the period ending 31 December 2025. Reference and administrative Information as set out on page I forms part of this report. The financial statements complv with current statutory requirements, the memorandtjm and articles of a550ciation and the Statement of Recommended Practice Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102. This is HBGI UK'5 first reporting period, having been established in February 2025. The activities within thi5 reporting period solely relate to operationalising H8GI UK and commencing our first project, the Fixing Futures review. This is an independently funded review of Children & Voun8 People's Mental Health Services with a focus on performance and outcomes. Objectives and activities In 2025, The Healthy 8rains Global Initiatwe UK IHBGI UK) was launched as a Registered Charitable Inccirporated Organi5ation to transform and build hi8h-performing mental health Services and Systems that maximi5e outcomes for individuals. Bulldlng on a mlsslon to Improve mentsl health, 8&)bally Founded in 2020, the Healthy Brains Global Initiative Inc. IHBGI Inc.) is a U.S. 501lc13 and registered not-for-profit. It was born out of a lack of prioritisation and funding for mental health worldwide. In collaboration with the World 8ank and with the support of the World Health Organ12alion and UNICEF, HBGI Inc. was created to challenge the glob31 mental health response. Uniquely it takes an outcomes-based approach to drive tangible impacts for individuals, families and communities. HBGI Inc. published its three-year strategic plan in 2025, which can be found here.. htt www.hb -conten loads 2025 05 HBGI-Sirate ic-Plan-2025-2028. df About Healthy 8ralns Global Inltlatlve UK Our objects are to promote and protect good rnental health for the benefit of the public by.. advancin& promoting and assistin8 mental health pro8rammes. including in low resourced settin8S,' collaboratin8 Wlth èn(J 5UPPOrting institutions and Initiatives as the trustees may determine,. and conducting, promoting and contributing to research designed to drive improvements in mental health and ensurin8 Its useful findin85 are disseminated for the public benefit. The decision to establish HBGI UK was made by the Board of the Healthy Brains Global Initiative Inc. IHBGI Inc.I, in recognition that its global mission could be achieved further and faster with a UK entity in place, both by bringing the expertise of HBGI Inc. to UK project5 anLI in support of a 8lobal visiorb. Strivin8 for happier anL4 healthier individuals and communities worldwide. Our relatlOll5hip with HBGI Inc. create5 a stron8 foundation for HBGI UK from which to build and grow. HBGI UK draws on shared resources to maximise HBGI operational efficiency and to fully leverage and draw on HBGI Inc.'s international expertise. Activities between February 2025 and October 2025. have primarily related to fundraisine for and buildinB a UK team, with support from HBGI Inc.; including unlocking a multi-year grant of alrYK)st £500k in its first year of operation.. for its first UK programme, the Fixing Futures Review. Qk)c ID.. 6652984fea51aggbf8c08f880107637569a1ef23 Healthy Brians Global Initiative UK Trustees, annual report for the period ending 31 December 2025 HBGI UK and HBGI Inc. operate as separate legal entities under their respective country laws, with separate boards. Garen St3Elin is Chair of both organisations. All decisions made by the HBGI UK Trustees are made in the best interest of HBGI UK'S chaiitable objectives, as outlined in the Constitution. Why work in the UK? The UK is facing a Significant Mental health crisis, particularly among children and young people. NHS England data shows that around one in five children and young people aged 8-25120.3%) had a probable mental disorder in 2023, compared with around one in nine in 2017. Demand for support conlinues to rise rapidly.. more than one million children in England had an active referral to mental health services In 2024-25. almost double the number recorded six years earlier. Mental health challenges are also increasing among adults, with around one In five adults in England experiencing a common mental health problem. These trends are placing unprecedented pressure on health. education and social care systems, while long Walting tirnes rnean many people 5trug8le to acce55 SUPPOrt when they need it most. Sourw.. NHS England, MentDI Heolth of Children ond Young People in Englond2023.. Children's Commissioner for England, Children'5 Mentol Health ServicES AnnuolBrieJing 2025," Centre lor Mental Health. The 8ig Adentol Heolth Report 2025. HBGI UK occupies a unique position in the mental health system Space. We can work across systems tD help shift spending away from Inflexible inputs ènd towards investment in real, meanin8ful outcornes. In many UK mental health systems, services remain fragmented. measured only on inputs. and insurficiently accountable to their beneficiaries. HBGI UK exists to help chan8e this, ultimately improving the lives of the individuals and communities these systems serve. To achieve our mission, we draw on our deep inrernational expenise in the design and oversight of outcomes-based contract5, implementation ol performance management systems, and innovatve system-stren8thening approaches. We work In partnership with funders, commissioners. policy makers and service providers to unlock change that improves individual outcomes, embedding hi8h-performance, lon8-term sustainability and lived experience throu8hout. Achievements and performance HBGI UK'S main activities and who we help are described below. All our charitable activities focus on improving the lives ol those with mental health ch311enges and are undertaken to further the charity's charitable purposes for the public benefit. Since our establishment in February 2025. HBGI UK has sharply focussed on establishing an organisation that can meanin8fully impact mental health systems in the UK and beyond- to transform the live5 of many. Our main areas of activity in this period were.. Establishment of HBGI UK and its organisatK)nal governance. processes and policies Fundraising for the Fixin9 Futures review Commencing the Fixing Future5 Review and fully operationalising the UK Charity HBGI UK awareness and 2026 planninE Estoblishment of HBGI UK'S governonce. processes t7rtdpolicies We have established a Board of seven experts in their ￿Spect￿e fields, including sorne within merltal health. They provide the guidance, accountability, credibility and creativity to support us to succeed as an organisation. A suite of governance and organisation31 processes and [￿lICIeS ensure thatwe operate robustly. These include, but are not limited Qk)c ID.. 6652984fea51aggbf8c08f880107637569a1ef23 Healthy Brians Global Initiative UK Trustees, annual report for the period ending 31 December 2025 to". Trustee Terms of Reference, safeguarding policy, a framework agreement with H8GI Inc., financial charter, conflict of Interest policies, and 311 relevant staff policies. FundrGi5ingfor the Fixing Futures Review Drawing on pro-bono support frorn the HBGI Inc. team, the FixAng Future5 concept wa5 developed. The prevalence of poc>r mental health among children and young people in the UK Is well known and deeply disturbing. More than c>ne in five children and young people in England (aged o- 181 now have a diagnosable ￿ntaI health condition. Our existing systems are clearly unable to cope. In the 2022-23 financial year, there were 949,200 children and youn8 people with active referrals to Child and Adolescenr Mental Health Services ICAMHSI in England alone who were not being seen. Within the Fixing Futures review, we are identifying inefficiencies within the system and establishing pilots to demonstrate how to deliver more with ihe exisiing resources. These will change the way services are delivered In order to increase performance. i.e. increase the number of young people re￿Iving timely responses. and achieving the outcornes that will 5UStain their long-term Well￿lA8. The Review engages across interrelated mental health antl related systems, engagin8 the lived-experience testimonies ol young people, re5ullin8 in concrete operational recommendations and a portfolio of related pilot projects. Comrnencing the Fixing Fufures Review ondfully operoitonolising the UK Chorify By the end of 2025 we had two employees on UK payroll, a part-time consultanL and one staff member on secondment from Bridges Outcomes Partnerships, all dedicated to the Flxing Futures review, with support from HBGI UK'S CEO and Chief ol Staff. Durin8 the final quarter of 2025, the Fixing Future5 team: En838ed the Fixin8 Future5 Advisory Council, chaired by Professor Tim Kendall, CBE Undertook Interviews and engagemeni actNity Invo￿1n8 practitioners, or8anisaiions. parents and young people, and convened a Youn8 People's Panel Undertook 3 rapid literature review to ideniify key themes pertineni to the review Contributed to and supported research. learnin8 and systems analysis activities intended to strengthen mental health provision and improve understandin8 of what enables more effective and responsive services Cofflpleted a system mapping exercise looking across sectors Created a framework for the Phase I rewrt. Erllbedded expertlse and built ongoing learning strucivres to levera8e the wider HBGI Inc. network, including in the United States and Africa. relating to outcomes-focused delivery, performance management and svstem improvement Continued to develop the organisational structures. partnerships and strategic foundations required to support future programme delivery and growth. This initial phase wa5 designed to be rapid and exploratory. lo build an understanding of how children acce55 and move throLJgh pan-sector mental health systems- spanning edUCat￿n. health, social care, justice. Its purpose was to identifv a short-li5t of 'deep-dive' areas for Phase 2, which will explore how improvement can be achieved in these deep-dive areas through practical pilots and, where relevant, by strengthening the impact of existing initiatives. The aim is to move from System understanding to testing scalable approaches to reform. HBGI UK oworeness und2Q26pl(Fnning Qk)c ID.. 6652984fea51aggbf8c08f880107637569a1ef23 Healthy Brians Global Initiative UK Trustees, annual report for the period ending 31 December 2025 A5 a newly formed charity, HBGI UK made it a priority in 2025 to builLI awareness, including through leveraging the HBGI Inc. website, HBGI Linkedln P3Ee and attending events related io mental health delivery. research and policy on behalf of both organisations. This is a continued priority into 2026. Beneficiaries of our services HBGI UK'S beneficiaries are individuals lacinE mental health challenges. Sin￿ HBGI UK'S projects have the objective of facilitating more and better mental health provision. with a focus on individual outcomes. In the first instance, the beneficiaries will be children and young people in England and Wales, through the pilots that the Fixing Futures Review will deliver. In addition. social investment is being sought for an innovative, scalable Initiative to transform community mental health provision for adults in ihe UK. As in the Fixing Futures review, embedding lived experience and rhe centring of individual vol￿$ will be a core principle in all future HBGI UK projects, whether in the UK or overseas. It is worth notin8 that HBGI UK draws on the support and strate8ic input of HBGI Inc'5 Lived Experience Council, an advisory panel which ensures that the perspeciives, insights, and expertise ol people directly affected by mental health challenges are embedded into all HBGI UK'S work. Plans for the future Our plans for the future will build on our 2026 priorities. Fixing Futures.. A Review of Children & Young People'5 Mental Health Services with a focus on performance and outcomes. Over the next 3 years, mobilisin8 operational pilots that will improve the efficiency and effectiveness of children and young people's menral health services. Scalin& implementing and sustaining these practices by building and drivin8 roadmaps for systems- to ensure adoption of these new way5 of working. A major community mental health transformation project. creatin8 innovative firiancing mechanisms to unlock the transformation, improving communify mental health responsiveness and thereby reducing the use of costly private sector, in-patient beds. The intention is to raise an innovative social investment in 2026, for ot*rationalisation during 2027. HBGI UK will lead and manage this program with already identified NHS Trusts and delivery partners. Explore outcomes-based contract5 in the spaces of.. children in care, care leavers. youth mental health hubs, 16- 24 NEETS INot in Education, Employment or Training), and children who are persistently absent from school. It is our ambition to bring an outiomes-based contracting approach, and the associated benefits, to %pa¢es which lend themselve5 to multi-agency workin& where individual agency is key. and where sustained outcomes constitute Success. These will be approached In different ways. HBGI UK has identified the government Better Futures Fund, a £500m fund which runs for 10 years from 2026. as a potential source of funding. Continue business development to bring performance manaEement expertise to the UK or international projects (including potential collaboration with HBGI Inc.'s Africa team). As HBGI UK engage5 Wlth more partner5 in the UK and overseas. the opportunity to embed an outcomes-focus, performance management and rigorously connert artiwlies with outcomes and impact becomes increasingly Qk)c ID.. 6652984fea51aggbf8c08f880107637569a1ef23 Healthy Brians Global Initiative UK Trustees, annual report for the period ending 31 December 2025 apparent. We will continue identifying where H8GI UK can have the most impact, and where there is the willingness of funders and partners to incorporate this. The securing of unrestricted funding for O(￿nIs3t10nal development and brand and activity awareness raising both within the sector and beyond. Financial review During the period the charity had total incorning resources of £150,505. Of this, £ISO,000 was a restricted grant. Unrestricted donations of £505 were received in the ￿riod. Expenditure in the year, which all relaied rocharitable activifies. rotalled £83.905. All expenditure in the year was funded by the restricted grant. At the end of the financial period the charity had total funds carried forward of £66.6CMJ. of these £66,095 were restricted and £505 were unrestricted. As a new charity, plan5 are in place to develop the income streams and to increase the level of charitable activities that can be delivered. The trustees are confideni thar these new income sireams will be fruitful and there are no concerns about the charl￿5 ability to continue as a going concern. In 2026. restricted grant income is currently confirmed at £393,225. Prlnclpal rlsks and uncertalntles All significant risks are reported in a risk register and are monitored quarterly at Board meetings. The most significant risk al this point Is financial, as a newly esrablished charily wilh project-based revenue streams. Risk Is mitigated bv creating a diversified portfolio of multi-year projects. minimising overhead and other costs through levera8ing HBGI Inc., and seeking unrestricied funding for our activities, noiably business developmen(- to fuel a posilive cycle of growth. Reserves pollcv As a newly formed charity, HBGI UK does not hold si8nificani financial reserves. We are buildin8 a six-month financial runway, but Il will take us time to get there. To minimise risks to funders, and to delivery, all project budgets are ring- fenced whether Stipulated by the contracts or not. This Means that funder monies are alwa￿ protected and there is adequate funding to resource projects as planned, including a contribution io relevant overhead costs. Structure, governance and management The organ153tion 1$ 3 Charitable Incorporated Organisatjon ICIOI with one member and was registered as a charity on 26 February 2025 Trustees are recruited based on their diverse relevant experien￿ and any ￿entifIed gaps through a board skills audit exercise. New tru5tee5 can only be appointed based on a majority vote of the existing trvstees. The sole member of the charity does not have the right to appoint trustees. The trustees review the aims, objettwes and actiwties of the charity each year. This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The trustees review and report on the succes5 of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the trustees ensure the charity's aims. objectives and activities remained focused on its stated purposes. Qk)c ID.. 6652984fea51aggbf8c08f880107637569a1ef23 Healthy Brians Global Initiative UK Trustees, annual report for the period ending 31 December 2025 The trustees have referred to the guidance contained in the Chanty Commission's general guidance on public benefit when reviewing the charity's aims and objectwes and in planning its future activities. In particular. the trustees consider how planned activities will contribute to the aims and objectNes that have been set out in the Constitution. All trustees give their time volunlarily and re￿iVed no benefits or expenses from the charity. Related parties and relationships with other organisations HBGI Inc. is the sole member of HBGI UK. The HBGI UK Board of Trustees meets quarterly, and also provide ad-hoc support as their expertise and organisational need dictate. During the year. H8GI Inc. incurs costs and recharges these to HBGI IUKI. Details of transactions with H8GI Inc. are detailed in rK)te 8 to the accounts. Remuneratlon pollcy for key management personnel In the period lo 31 December 2025 rhere were no key management personnel employed by the charity. After the end of the financial period, a CEO and directors weie brought onto payroll. HBGI UK has a remuneration policy with principles that apply for all staff. However. any senior leadership roles (Directors and above). or salaries exceeding £90,000 per year. mtjsi be reviewed and confirmed by Trustees. Management may sel Salaries for staff below Oirector level or avbelow the £90,LKIO threshold. Qk)c ID.. 6652984fea51aggbf8c08f880107637569a1ef23 Healthy Brians Global Initiative UK Trustees, annual report for the period ending 31 December 2025 Statement of responsibilities of the trustees The trustee5 are responsible for prep3ring the tru5tees' annual report and the financial statements in accordance with applicable law and Unired Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practicel. Charity law requires the trustees to p￿pare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditLJre, of the charity for that period. In prep3rin@ these financi31 statements, the trLJStees are required to.. Select SLJltable accountinB policies and then apply them consistently Observe the methods and principles in the Charities SORP Make judgements and estimates that are reasonable and prudent State whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any rnateri31 departure5 disclosed and explained in the financial statements Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitv will continue in operation The trustees ère responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for sale8uarding the assets of the charity and hence for taking reasonable steps lor the Prevention and detection of fraud and other Irregularit￿S. The Iruslees. annual report has been approved by ihe irusiees on 8 July 2026 and signed on their behalf bv Garen Staglin Chair Qk)c ID.. 6652984fea51aggbf8c08f880107637569a1ef23 Independent examinerfs report to the members of Healthy Brains Global Initiative UK Report to the trustees and Members of Healthy Brains Global Initiative UK I report on the accounts of the charity for the period ending 31 December 202S set Dut on pages 10 to 19. Respectlve responsibilities of trustees and examiner The charity's trustee5 are responsible for the preparation of the accounts. The charity's trustees consider that an audit Is not required for this year under section 144 of the Charities Act 20111.the Charities Act'l and that an independent examination is needed. It is my re5pon5ibility to.. examine the accounts under section 145 of the Charities Act, to follow the procedures laid down in the gerberal Directions given by the Charity Commission lun(Jer section 1451Sllbl of the Charities Act. and to state whether particular matters have come to my attention. Basls of Independent examlnerfs statement My examination was carried out in accordance with general Directions given by the Charity Commission, An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual item5 or disclosures in the accounts, and seeking explanation5 from the trustees concerning any such m3tters. The procedures undertaken do not provide all the evidence that would be required in an audit. and consequently no opinion is given as to whether the accounts present a 'true and fair. view and the report is limited to those matters set out in the statement below. Independent examlner's statement In connection with my examination, no matter has come to my attention.. which gives me reasonable cause to believe that. in any material respect. the requirements.. to keep accounting records in accordance with Section 130 of the Charities Act,. and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met.. or 2. to which, in my opinion. attention should be drawn in order to enable a proper understandinE of the accounts to be reached. Adrian Phillips FCA Arlo Accountancy Limited 107 Valley Road Stockport SK4 2DB Qk)c ID.. 6652984fea51aggbf8c08f880107637569a1ef23 ## Healthy Brains Global Initiative UK ## Statement of Financial Activities ## for the period ended 31 December 2025 |Unrestricted
funds
Note
£
Income from:
Donations and legacies
3
505
Charitable activities
4
-
Total income
505
Expenditure on:
Charitable activities
5
-
Total expenditure
-
505
6
505
Transfer between funds
-
505
Reconciliation of funds
Total funds brought forward
-
Total funds carried forward
505
Net movement in funds for the year
Net income/(expenditure) before net
gains/(losses) on investments
Net income/(expenditure) for the year|Restricted
funds
£
-
150,000
150,000
83,905
83,905
66,095
66,095
-
66,095
-
66,095|Total funds
2025
£
505
150,000| |---|---|---| |||150,505| |||83,905| |||83,905| |||66,600
66,600
-| |||66,600
-| |||66,600| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 10 Healthy Brains Global Initiative UK ## Balance sheet as at 31 December 2025 ||Note||2025|| |---|---|---|---|---| |||£||£| |Current assets||||| |Debtors|10|931||| |Cash at bank and in hand|11|98,334||| |Total current assets||99,265||| |Liabilities||||| |Creditors: amounts falling||||| |due in less than one year|12|(32,665)||| |Net current assets||||66,600| |Total assets less current liabilities||||66,600| |Net assets||||66,600| |The funds of the charity:||||| |Restricted income funds|13|||66,095| |Unrestricted income funds|14|||505| |Total charity funds||||66,600| The notes on pages 12 to 29 form part of these accounts. Approved by the trustees on 8 July 2026 and signed on their behalf by: Garen Staglin Chair 11 Healthy Brains Global Initiative UK Notes to the accounts for the period ended 31 December 2025 ## 1 Accounting policies The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows: ## a Basis of preparation 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 - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. Healthy Brains Global Initiative UK meets the definition of a public benefit entity under FRS102. 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 presented in sterling which is the functional currency of the charity and rounded to the nearest £ sterling. ## b Judgments and estimates The trustees have made no key judgments which have a significant effect on the accounts. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next reporting period. ## c Preparation of the accounts on a going concern basis The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. The charity therefore continues to adopt the going concern basis in preparing its financial statements. ## d Income Income is recognised when 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. Income received in advance of a provision of a specified service is deferred until the criteria for income recognition are met. 12 Healthy Brains Global Initiative UK Notes to the accounts for the period ended 31 December 2025 (continued) ## e Donated services and facilities Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised; refer to the trustees’ annual report for more information about their contribution. On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. ## f 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. ## g Fund accounting Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity. ## h Expenditure and irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings: - Expenditure on charitable activities includes the costs of delivering support services undertaken to further the purposes of the charity and their associated support costs. - Other expenditure represents those items not falling into any other heading. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. 13 Healthy Brains Global Initiative UK Notes to the accounts for the period ended 31 December 2025 (continued) ## i Operating leases Operating leases are leases in which the title to the assets, and the risks and rewards of ownership, remain with the lessor. Rental charges are charged on a straight line basis over the term of the lease. ## j 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. ## k 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 ## l 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. ## m 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. ## n Pensions Employees of the charity are entitled to join a defined contribution ‘money purchase’ scheme. The charity’s contribution is restricted to the contributions disclosed in note 7. At the 31 December 2025 there was £1,402 contributions outstanding. The costs of the defined contribution scheme are included within charitable activity expenditure. ## 2 Legal status of the charity The charity is a charitable incorporated organisation with no share capital formed on the 26 February 2025. The registered office address is disclosed on page 1. 14 Healthy Brains Global Initiative UK ## Notes to the accounts for the period ended 31 December 2025 (continued) ## 3 Income from donations and legacies |Individual Donations
Foundation Donations
Total
4
Income from charitable activities
Grants
Total|Unrestricted
£
5
500
505
Unrestricted
£
-
-|Restricted
£
-
-
-
Restricted
£
150,000
150,000|Total 2025
£
5
500| |---|---|---|---| ||||505| ||||Total 2025
£
150,000| ||||150,000| 15 Healthy Brains Global Initiative UK Notes to the accounts for the period ended 31 December 2025 (continued) ## 5 Analysis of expenditure on charitable activities |5
Analysis of expenditure on charitable activities|| |---|---| |Bank Charges
Independent examination
Insurance
LEC Honorarium
Office Supplies
Overheads
Professional fees
Staff costs
Subcontractors
Travel expenses
Restricted expenditure
Unrestricted expenditure
6
Net income/(expenditure) for the year
This is stated after charging/(crediting):
7
Staff costs
Staff costs during the year were as follows:
Wages and salaries
Social security costs
Pension costs
Independent examiner's fee|Total 2025
£
38
1,500
155
1,265
14
10,123
1,293
39,657
26,708
3,152| ||83,905| ||83,905
-| ||83,905| ||2025
1,500| ||2025
£
38,503
-
1,154| ||39,657| All staff cost relates to charitable activities 16 Healthy Brains Global Initiative UK Notes to the accounts for the period ended 31 December 2025 (continued) ## 7 Staff costs (cont….) No employees has employee benefits in excess of £60,000. The average number of staff employed during the period was 1. The average full time equivalent number of staff employed during the period was 1. The key management personnel of the charity comprise the trustees. The total employee benefits of the key management personnel of the charity were £nil. ## 8 Trustee remuneration and expenses, and related party transactions Neither the management committee nor any persons connected with them received any remuneration during the year. No trustees received travel and subsistence expenses during the year. Aggregate donations from related parties were £500. There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties. During the year the charity was invoiced £10,123 for overhead costs, £13,088 for seconded staff costs, £932 for insurance and £17 bank fees from Healthy Brains Global Initiative Inc. At the 31 December £24,160 was outstanding and paid in the new financal year. During the year a donation of £500 was received from Healthy Brains Global Initiative Inc. ## 9 Corporation tax The charity is exempt from tax on income and gains falling within Chapter 3 of Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity. ## 10 Debtors |Debtors|| |---|---| ||2025| ||£| |Prepayments and accrued income|931| 931 17 Healthy Brains Global Initiative UK Notes to the accounts for the period ended 31 December 2025 (continued) ## 11 Cash at bank and in hand |h at bank and in hand|| |---|---| |Cash at bank and on hand|2025
£
98,334| ||98,334| ## 12 Creditors: amounts falling due within one year |Creditors: amounts falling due within one year|| |---|---| |Trade Creditors
Other creditors and accruals|2025
£
29,763
2,902| ||32,665| ## 13 Analysis of movements in restricted funds |Bukhman Philanthropies
Total|Balance at
25 February
2025
£
_-_
-|Income
£
150,000
150,000|Expenditure
£
(83,905)
(83,905)|Transfers
£
-
-|Balance at 31
December
2025
£
66,095| |---|---|---|---|---|---| ||||||66,095| ## Name of restricted fund Description, nature and purposes of the fund Bukhman Philanthropies To fund an operational Review of Children’s and Young People’s Mental Health Services in the UK Focusing on performance and outcomes, identifying ways to maximize service efficiency and efficacy 18 Healthy Brains Global Initiative UK ## Notes to the accounts for the period ended 31 December 2025 (continued) ## 14 Analysis of movement in unrestricted funds |Unrestricted fund|Balance at
25 February
2025
£
-
-|Income
£
505
505|Expenditure
£
-
-|Transfers
£
-
-|As at 31
December
2025
£
505| |---|---|---|---|---|---| ||||||505| ## Name of unrestricted fund Description, nature and purposes of the fund Unrestricted fund General funds of the charity available to spend on charitable activities ## 15 Analysis of net assets between funds |Net current assets/(liabilities)
Total|Unrestricted
funds
£
505
505|Designated
funds
£
-
-|Restricted
funds
£
66,095
66,095|Total 2025
£
66,600| |---|---|---|---|---| |||||66,600| 19