## No mind left behind
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Mind Annual report and accounts 2023/24
**Mind Trustees’ annual report 2023/24**
**We’re in the middle of a mental health emergency.**
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**Mind Trustees’ annual report 2023/24**
1 in 4 adults in England and Wales experience a mental health problem each year. Far too many wait months to get support, including for the most serious mental illnesses. Far too many get more unwell as they wait.
At the same time, the number of children and young people who are struggling is soaring. Inequality and social injustice are taking a big toll on mental health. And the cost of living crisis is only making things worse.
But, even in the middle of this emergency, the impact of the Mind federation is clear to see.
Our community reaches right across England and Wales. It brings together local Minds, shops, our partners and our national charity. It’s driven forward by tens of thousands of supporters, campaigners, fundraisers, volunteers and people with lived experience of mental health problems.
Together, we fght back against the mental health emergency.
This report gives a sense of how we do it. It shows what we did in 2023/24 to make sure every person and every community knows they can turn to Mind. It shows how we worked every day to create a more mentally healthy society.
This report shows how the Mind federation kept building on 80 years of progress in 2023/24, to make sure no mind is lef behind.
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**Mind** Trustees’ annual report 2023/24
## **Contents**
## **Trustees’ annual report**
- **08** Welcome from Sarah Hughes, our chief executive
- **09** Welcome from Stevie Spring, our chairman
## **Strategic report**
- **10** 2023/24 in numbers
- **12** We connect minds
- **16** We support minds
- **20** We change minds
- **24** Together, we are Mind
- **28** Equitable minds
- **32** How we raise our funds
- **36** How we spend our money
- **38** Looking ahead
- **40** Environment, social responsibility and governance
- **46** Our people
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**Mind** Trustees’ annual report 2023/24
- **48** Risk management
- **51** Fundraising strategies and approaches
- **54** Financial review
- **58** Statement of trustees’ responsibilities
## **Accounts**
- **60** Independent auditor’s report
- **63** Statement of fnancial activities
- **65** Balance sheets
- **67** Cash fow statement
- **69** Notes to the accounts
## **Thank you**
**94** Our funders
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**Mind** Trustees’ annual report 2023/24
**We’re Mind. We’re here to fght for mental health. For support. For respect. For you.**
**37,107** campaigners
**2,712** Mind members
**16**
local Minds in Wales
**86** local Minds in England
**586** paid staf in shops
**3,126** shop volunteers
**582** full time equivalent Mind staf
**175,868** supporters
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**Mind Trustees’ annual report 2023/24**
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**Mind Trustees’ annual report 2023/24**
## **Welcome from Sarah Hughes**
We’re now better placed than ever to make the most of being a federation. Mind is a social movement, made up of the national charity, over 100 local Minds and over 170 shops. We have a unique insight into what is really impacting people’s lives and their mental health. We can demonstrate the best ways to engage people in campaigns and to support people at every stage of their mental health journey. And our national profle in England and Wales helps us reach millions of people, while campaigning for change at the highest levels.
There’s no doubt 2023/24 has been a year of change at Mind. But there’s also no doubt we’re now in a stronger position to take on the mental health emergency as a powerful, united federation.
The UK is facing unprecedented challenges. As a result, the prevalence of mild to moderate conditions is increasing. Too many people with serious mental illness aren’t getting the help they need. So Mind is seeking transformation in policy, healthcare and communities. We want to make sure people have the best chance at living mentally healthy lives.
We know the challenges around stigma and accessing support will continue. The Mind federation is committed to rise to these challenges together, building on the best of what we do while evolving to make the biggest diference. #TeamMind includes all of our amazing supporters, and I’d like to thank you all,
But this huge and important ambition rests against a difcult backdrop. Like so many of our friends across the sector, we had to make some hard fnancial decisions in 2023/24. We had to restructure, and this was tough. I’d like to thank everyone who helped make the process as smooth as it could be. We also reviewed and refocused our strategy. Our new strategic pillar – equitable minds – makes clear our commitment to breaking the links between poverty, racism and poor mental health, and to fghting for young people’s rights.
**Sarah Hughes CEO, Mind**
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**Mind Trustees’ annual report 2023/24**
## **Welcome from Stevie Spring**
**Earlier this year, every member of Mind’s board travelled to Cardif to meet the advisors who answer calls to our Infoline, support line, legal line and welfare line. The visit had a profound efect on us all.**
Talking to the advisors, it was clear not just how committed every person was to their role, but how valuable the calls they answered were. Every day, people across England and Wales reach out to Mind for information and guidance, saying they can’t get support anywhere else. Our advisors are there to listen and to help people fnd a way forward, speaking to tens of thousands of people every year.
I see a similar impact whenever I spend time at a local Mind or at a Mind shop (including the Mind shop in Queensway, where I recently bought the trousers you can see above. If you’re not already shopping at your local Mind, you really should be!). Mind brings people together in communities, because people know they will fnd comfort if they ever fnd themselves struggling. Local Minds and shops are places where people know they can always be themselves.
And that’s why I’m so excited that we fnish this year truly focused on being always ‘federation
frst’. Sarah, supported by her executive team, has done a brilliant job in her frst year as CEO, clarifying where Mind must go to confront the crisis in mental health. The team has spearheaded new partnerships and vital new initiatives, like the With Women in Mind collective to break the cycle between trauma and mental health. Everyone connected to Mind should be proud of what we have achieved together during a time of change and renewal.
I’d like to thank all of our trustees for their fantastic work through the year, helping to put ‘federation frst’ at the heart of everything we do and making sure we’re always guided by the experiences of the people we exist to support. We need to reach more people than ever to ensure no mind is lef behind, and we’re now ideally placed to make that happen.
**Stevie Spring Chairman, Mind**
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**Mind Trustees’ annual report 2023/24**
## **2023/24 in numbers**
We responded to 122,000 queries to our support and information helplines.
Our work was mentioned over 7,200 times in the media.
We sent out Our mental health information was accessed 2 million 25.3 million copies of our printed mental health information. times.
2.5 million people had a conversation about mental health as a result of Time to Talk Day.
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**Mind Trustees’ annual report 2023/24**
885,544 employees were supported through our workplace wellbeing programmes.
17,285 people signed up to Side by Side, our online peer support community.
Local Minds supported 554,630 people.
We created 40,493 opportunities for people to share their lived experience.
34,912 people campaigned with us to improve services and push for justice.
We sold over 4.7 million items in our shops.
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## **We connect minds**
Our network of individuals and communities reaches across England and Wales. We bring people together. People who’ve experienced mental health problems. People who care about mental health. People who share our determination to build a mentally healthy future. Together, we work every day to make sure no mind is lef behind.
**Mind** Trustees’ annual report 2023/24
## Celebrating real exercise
We know physical activity can have a positive impact on mental health. But we also know it’s easy to get put of by a sense that exercise is all about faster times, longer distances and higher scores. Working together with our corporate partner ASICS in 2023/24, we set out to change that idea.
Our campaign New Personal Best made one message clear – ‘A personal best is not a number. It’s a feeling’. We joined with a group of people with lived experience of mental health problems to create and test the messaging. Then a group of Mind media volunteers and celebrities – Adam, Biola, Garrick, Rachel and Sujan – joined us to have their photos taken and show what exercise really looks like.
We used the photos to make billboards and online ads, and launched the campaign on World Mental Health Day in October. It was picked up by journalists nationwide, leading to 340 pieces of coverage in UK media. 90,000 people also visited the Personal Best landing page at ASICS website. And 234,000 people heard about the campaign on ASICS’ social channels.
By celebrating real people moving for their mental health, we’ll break through the barriers that stop people getting active. And we’d like to thank ASICS for sharing our ambition.
## Creating hope with Co-op
Ever since 2019, our partnership with the Co-op has had a massive impact. Co-op colleagues, customers, members and suppliers raised an incredible £8.45 million to support mental wellbeing. Together, we’ve supported over 30,000 people through our new community services. We’ve helped millions of people to have conversations through our partnership on Time to Talk Day. And we’ve signposted over 1.5m people towards information and advice.
81% of people said their wellbeing improved afer accessing our support in communities.
And while our overall partnership with Co-op ended in 2023/24, its impact will keep growing. We’ll be delivering Time to Talk Day 2025 together, so the nation’s biggest mental health conversation can continue. 20,000 community hubs also now have mental health information and resources because of the partnership.
And initiatives like Conversations in the Community – which we launched with Co-op in 2023 – will continue too. We created this online course with people who have lived experience of a range of mental health problems. It’s aimed at community leaders and helps people talk about mental health and wellbeing more easily. The course is one of many ways Co-op has brought communities together to improve mental wellbeing – and we’d like to say a huge thank you for its support.
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Mind Trustees’ annual report 2023/24
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**Mind** Trustees’ annual report 2023/24
## **Ren’s story**
For our Behind the Song campaign, we spoke to musicians who have written about mental health. Ren’s song Suic*de talks about losing his friend Joe, who took his own life. The video interview we released together in 2023 has since been watched over 100,000 times.
## “
It came out almost unintentionally about Joe, and it turned into something that I hadn’t really addressed in almost a decade of thinking about it. I thought that I had processed it, but evidently there was still a bit of an untapped reservoir there… It almost felt like I lost the innocence of my youth when Joe died. Before that, it felt like I was living in this impenetrable bubble where you hear about death but it never penetrates your sphere of existence.
I’ve always tried to create a space for being a voice of the voiceless. You don’t hear a lot of stuf in music that will deal with things like chronic health problems, suicide and depression, and it’s really important for me to create something that’s a companion for people going through those things.
It’s a responsibility in a way, but I think it’s beautiful. My favourite thing about this terrible situation that happened, whether it was Joe dying or my own mental health declining, is that I’ve been able to alchemise that and turn it into a piece of music that saves people.
”
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## **We support minds**
In communities, online and over the phone, Mind is there. We help millions of people get the mental health support and information they need, when they need it. And we make sure more people can live life to the full and take action to protect their rights.
**Mind** Trustees’ annual report 2023/24
## Boosting supported self-help
In 2023/24, local Minds reached 6,500 people with supported self-help. It’s an approach that can help with problems including depression, anxiety, panic attacks, stress and grief – before they start to get worse. And its recent growth shows the power of the Mind federation working together.
Supported self-help was developed by a local Mind and GPs in 2015. It’s a free, guided 6-week programme, with support from a trained practitioner. By 2023/24, 48 local Minds were ofering supported self-help in England, Wales and the Channel Islands.
“Before I started, I felt at the lowest point of my life. Talking to the practitioner has made me feel so much better. I can ” now see my way again. Anonymous
Last year we developed new technology that helped waiting times for supported self-help to stay low – just 12 days on average. The tech combines an AI chatbot with a system that shows the availability of all supported self-help practitioners. So anyone can now sign up online and choose from two options. Either they can access support at their nearest local Mind. Or they can speak to a practitioner from another local Mind online.
In 2023/24, 8 local Minds also tested ofering supported self-help to specifc groups – such as people who are homeless. At a time when mental health waiting lists are longer than ever, supported self-help is making it easier to get help and take action when difcult emotions become hard to manage.
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## Launching our Support Line
Since the coronavirus pandemic in 2020, we’d seen an increase in the number of people contacting our Infoline with complex mental health problems or in serious distress. But the Infoline exists to provide information and signposting – rather than emotional support.
Looking to meet this new need, in 2023 we set up our Support Line. It’s a safe space for people to talk about their mental health and wellbeing. Advisors can help people share their feelings and fnd ways to cope. The line had a positive impact right from the start.
## “Mind was really there for me. If I hadn’t managed to get to the Support Line, anything ” could have happened. Anonymous
Afer launching in September, we began answering between 2,000 and 2,500 Support Line calls a month. On average, Support Line calls were around 5 minutes longer than Infoline calls. And feedback in an early evaluation was very encouraging. Callers told us speaking to our advisors had a positive impact on their wellbeing. They said the combination of supportive listening and signposting was unique.
In total, 159,000 people contacted our helplines in 2023/24. And through our Support Line – together with our Infoline, Legal Line and Welfare Line – we can give more people the help they need, when they need it.
## We owe a huge thank you to...
Great Causes II, Kimberly-Clark, McVitie’s, Moto Foundation, PepsiCo Foundation and The Swiss Re Foundation for generously supporting our work to support minds in 2023/24.
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**Mind Trustees’ annual report 2023/24**
## **Ask them what they need…**
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**Mind** Trustees’ annual report 2023/24
## **Chris** ’ **s story**
When YouTube contacted Mind wanting to fund a series of mental health animations, we made sure the project was led by people with lived experience. Chris has come to Mind for mental health support in the past. He was the perfect person to shape everything from the illustration to the voiceover. The animations have since been watched thousands of times.
“ When this window of opportunity was brought to my attention, I thought twice before formally expressing an interest. Little qualifes me in academic or professional terms, and I doubt myself all the time. This ‘imposter syndrome’ was, on this occasion, counterbalanced by my eagerness to test myself as a ‘reviewer,’ tapping into my lived experience.
Setting the personal goal to do justice to myself and my lived experiences, I went through the material under review several times, slept with the quotes and the images, and imagined how it could be worded or designed diferently in the best possible way, for now and the future. I let emotions come to the surface and guide me in the task, oscillating between the past – and how I felt in situations of vulnerability – and the now, where I can speak up and, possibly, allow others to resonate with and relate to my lived experiences.
It has been a valuable refective process, empowering and enriching in its terms. I appreciated how understanding and caring Mind’s team has been at all times, encouraging me to ‘own’ the process and do it my own way, to use this reviewing opportunity to shape and eventually leave my mark on the fnal version of the material. ”
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## **We change minds**
Wherever we see injustice and discrimination that make life harder for people with mental health problems, we take action. In 2023/24, together with our 37,000 campaigners, we spoke out, changed attitudes, raised awareness and pushed for a future where no mind is lef behind.
**Mind** Trustees’ annual report 2023/24
## Shaping Wales’s strategy
Between June and September 2023, the team at Mind Cymru asked around 400 people for their priorities for the Welsh government’s new mental health and wellbeing strategy. When the frst draf was published, it was clear people’s voices had been heard.
We ran three focus groups to hear people’s thoughts in-depth. One was run in partnership with Llanelli Mind. Another brought members of Mind’s Youth Voice Network together. And the third was run with the not-for-proft organisation BAME Mental Health Support, to look at how the strategy could be genuinely anti-racist.
We also ran an online survey. 347 people responded, using free text boxes to explain their priorities. Questions focused on what matters most for mental health, changes needed to NHS support, inequality and the social causes of mental health problems.
## “Crisis care should be set up along the lines of A&E but in dedicated community spaces.”
George, responding to our survey
The draf strategy refected a lot of the issues people had raised. The need to make anti-racism a priority was there. So was the need to focus on issues like unemployment and training – which have a big impact on mental health. Now, we’re pushing the government to make sure the fnal strategy is even stronger – and refects even more of the experiences and voices we heard.
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## Preparing for the Covid Inquiry
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As Mind is a Core Participant in Module 3 of the UK’s Covid-19 Inquiry, we can submit evidence, call witnesses and help decide what the inquiry covers. It’s a vital chance to make sure mental health is a priority if there is ever another pandemic.
Module 3 is focused on healthcare systems, patients and staf. Public hearings are due to start in September 2024. So we spent 2023/24 making sure people’s mental health experiences would be heard.
We were asked to share evidence from people who have lived experience related to mental health. We identifed 3 young people, a parent and a mental health advocate, who we hope will be able to share their experiences at the hearings. The young people highlighted how they felt isolated in hospital, while the parent said they felt unsupported afer their daughter was hurriedly discharged from hospital. Their stories refect what we heard throughout the pandemic – and what must be investigated in the inquiry.
In March, we also joined a round table meeting with other non-state Core Participants to discuss which issues we would raise jointly. Many organisations agreed with Mind that there should be a bigger focus on mental health. As a result – and a few weeks afer the period covered by this annual report – we published an open letter to the inquiry chair, asking for mental health to be given more attention. In another sign that we are being heard, the inquiry team responded, emphasising that future modules would look at mental health in more detail.
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**Mind Trustees’ annual report 2023/24**
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**Mind** Trustees’ annual report 2023/24
## **Lol’s story**
Mental health hospitals are broken. Buildings are crumbling. Wards are ofen bare, cold and rundown. And people’s voices are being ignored. In 2023/24, Lol was one of nearly 35,000 campaigners who called on the UK government to reform mental health hospitals as part of our Raise the Standard campaign.
“[The Raise the Standard campaign means everything ] to me. As a now retired mental health nurse of 40 years, I have seen the inequalities that exist in mental health care. I’ve seen the lack of funding and the unsuitable environments. It’s unacceptable that these still exist where good quality care can be delivered.
I also have lived experience of depression so can speak as the nurse and the patient on this matter. I am aware of the stigma, even within my own profession at times, but mostly around mental health acceptance and treatment.
The campaign is important because it is raising concerns at the heart of the government, and this is cross party. Mental health afects everyone, irrespective of political persuasion. Raise the Standard puts mental health on the agenda and encourages reform of anachronistic policies and legislation.
My hope is that it will achieve increased awareness and understanding of the diferent areas that require addressing. For me, it is not only policies but also a change in attitude that are needed. We need more empathy and more understanding of the close correlation between mental and physical health, and of the importance of acknowledging discriminatory language that can further perpetuate stigma, beliefs and harmful attitudes.
”
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## **Together, we are Mind**
We’re a federation – and proud of it. The combination of our shops, local Minds, national brand and partners makes us so much stronger. We’ll keep improving together, so no one faces the mental health emergency alone.
**Mind** Trustees’ annual report 2023/24
## Shopping for wellbeing
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In terms of numbers, it was another great year for Mind’s shops. 18 new stores opened, from Brixton to West Kirby. These included coinvestments with local Minds – like the new Woodbridge store we opened with Sufolk Mind – as the Mind federation worked even more closely together. We also raised £5.8m proft from the shops, enabling us to do so much more to fght for mental health. And we saved 6 million tonnes of preloved clothes, toys, jewellery and music from landfll, fnding them new homes with our customers instead.
But thinking of our shops in terms of sales and donations only tells half the story. Because Mind’s shops are much more than shops. They’re community hubs for mental health – and a gateway to our support and campaigns.
Thanks to over 3,000 volunteers and almost 600 paid staf, our shops are places where conversations about mental health happen naturally. They’re places where it’s easy to fnd our information about mental health and to get pointed towards support locally. Many staf are trained as Mental Health First Aiders. And more local Minds have started teaming up with their nearest shops, ofering support in shop premises. We’re proud of our shops’ impact in communities. And with Mind’s increased focus on being ‘federation frst’, that impact will only continue to grow.
## We owe a huge thank you to...
The Works for generously supporting Mind Retail in 2023/24.
## Taking digital further
Launched in 2022/23, Digital in Mind is our project to use technology more efectively across the Mind federation. In 2023/24, it continued to help us transform our digital infrastructure.
By April 2024, 9,000 people were using Connecting Minds. That’s our shared intranet and collaboration platform, launched in 2022. It’s now used twice as much as our previous system, OpenHub. And there are 27 communities of practice on the site. These play a vital role in helping local Mind and national Mind teams work together more efectively.
It's a similarly positive story for our shared learning management system. Over 2,100 local Mind staf and volunteers now use the system to build their skills.
And we also created a new online system in 2023/24 that makes it easier and cheaper for local Minds to build accessible websites. We created new resources and guidance too, to help local Mind teams feel more confdent setting up and running their sites.
## “I'm not from an IT background, but when I read it, I understand it.”
Local Mind team member, talking about our new tech guidance.
We also worked with 40% of local Minds in 2023/24 to support people to improve their digital skills. Training covered subjects from social media to procurement. Right across our work, the impact of Digital in Mind is continuing to grow.
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**Mind Trustees’ annual report 2023/24**
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**Mind** Trustees’ annual report 2023/24
## **Rita’s story**
Over 3,500 unstoppable volunteers keep our shops running. But not many have been putting smiles on customers’ faces for as long as Rita – who began volunteer for Mind in 1984. Rita, you’re a superstar.
“[I started volunteering at the Mind shop in Sheffield ] 40 years ago. For the first 2 years, the shop was run by volunteers only and there were certainly no computers. I don’t really do computers! My first shifts were Mondays and Wednesdays to fit round my son’s school days and I have been doing those days ever since!
I have made so many friends with other volunteers, customers, staff. It’s just been fantastic. The best thing about volunteering has been the people I have met and the friends I have made. Oh, and all the things I have bought!
Over the 40 years, there has never been a time I have NOT wanted to come to the shop. We have had some funny things happen in the shop over the years. One memorable event was a guy being chased – he ran in the front door, through the shop and out the backdoor. It was quite dramatic!
I mostly work in the backroom. I carry the bags in, sort through them and get the stock ready for the shop floor. I don’t want to stop. I don’t want anyone saying I am too old! ”
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## **Equitable minds**
We’re putting equity at the heart of everything we do. That means breaking the links between poverty, racism and mental illness. It means defending young people’s rights in mental health. And it means working with more partners and looking hard at ourselves, so we’re always anti-racist, inclusive and diverse.
**Mind** Trustees’ annual report 2023/24
## Targeting the cost of living
**Who’s got time to worry about mental health, when you’re worried about**
Having so much to deal with can afect your mental health. Mind can’t fx the cost of living crisis, but we can help you feel more able to cope.
If this speaks to you, speak to us.
Visit **mind.org.uk/cost-of-living**
We know the cost of living crisis is still taking a huge toll. Our research has shown that nearly half of people say the crisis has impacted their mental health. So in 2023/24 we kept working to break the two-way link between mental health and poverty, including through a media campaign encouraging people to seek help.
The campaign built on the successful message of our recent ads: ‘If this speaks to you, speak to us’. The approach aims to increase understanding of how Mind can help people facing poverty. And it encourages people who are worried about money to look at our information online, call our helplines and join our Side by Side peer support community.
This year, we used radio and digital advertising in London, the Midlands, Northeast England, Humberside and Wales – all places where people are more likely to live in poverty. Lines like: ‘Who’s got time to worry about mental health, when you’re worried about… paying the rent/keeping warm’ brought the issues people are facing to life. The ads were seen over 3 million times, pointing people towards our money and mental health information and leading to repeated spikes in visits to our website. We’re determined to make sure more people know Mind is relevant to them. This campaign is a powerful way of making it happen.
## **Creating ‘Holding Emotions’**
We formed a powerful collaboration with the Museum of London Docklands and the youth organisation Taking Shape Association in 2024. Together, we developed a museum display called ‘Holding Emotions’. It helps people connect and confront emotions they might feel afer visiting the museum’s ‘London, Sugar & Slavery’ gallery. And it helps people learn practical tools to process difcult emotions.
Over two days, young people from Taking Shape worked with Mind practitioners and museum staf to help create the display. They discussed wellness tools, the language used to talk about emotions and the history of the transatlantic trade of enslaved people. The exhibition refects all their concerns and insights. There’s a video showing how nature and connecting with nature can help us work through our emotions. And there’s a range of mindfulness tools for people to use. The hope is that visitors will take time to sit, pause and refect on what they’ve seen.
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Mind Trustees’ annual report 2023/24
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**Mind** Trustees’ annual report 2023/24
## **Kaybee’s story**
In 2023 Mind Cymru partnered with Cardif community group New Era. The group was set up by Gemma Smith in 2020, afer she lost her brother to suicide. Through spoken word and rap, Gemma gives young people a place to be open about their struggles – before their mental health gets worse. As she says: ‘How can we express what triggers us? What message can we give? How can we put a positive fip on it?’ Kaybee is one of the young people who’s joined with New Era to make her feelings heard.
- “[‘I’m grinding man, I really am. ]
I’m not enough just as I am.
I’m not enough, I’m not enough,
I’m not enough just as I am.’
For me, songwriting is about the stuff that I don’t ever want to be saying to people’s faces. I just want to be me when I’m talking to people and interacting with people, I don’t want to be this angry, lairy or even sad or mopey [person] in that song.
I don’t ever want to be that victimised person, which is why I think it’s really important to write it and perform it as a song, rather than living it as a reality.
”
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**Mind** Trustees’ annual report 2023/24
## **How we raise our funds**
Our fundraisers and supporters helped us raise £42.9 million in 2023/24. We know times are hard for so many people, and we’re massively grateful to everyone who supported us. We’ll use every pound to keep fghting for mental health.
Income, including net proft from Mind Retail shops:
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Total
£42.9
million
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- [Challenge events...............................£13.3m, 31% ]
- [Grants from government, trusts, ] foundations and other bodies............ £2.1m, 5%
- [Donations............................................£13.6m, 32% ]
- [Proft from shop sales and ] other income ........................................ £5.6m, 13%
- [Legacies...................................................£3.9m, 9% ]
- [Fees and other income......................£4.4m, 10% ]
## Over 50,000 people took part in fundraising events and activities for Mind last year – raising £13.3 million. Thank you all.
Among those 50,000, some 7,400 people pushed themselves to the fnish line at hundreds of running, cycling and trekking events. Events like Tough Mudder. The London Marathon. The Three Peaks Challenge. RideLondon – Essex 100. The Great North Run. Wherever there was an epic challenge, unstoppable Mind fundraisers were there.
“Running the London Marathon with Team Mind was the best experience of my life! I felt so well supported the whole way through the journey. The training was a huge healer for my own mental health struggles. I thought I’d be a puddle of emotions on marathon day, but in actual fact it felt like a huge celebration of all the work I’d put in.
Thank you Mind, for everything.” Anonymous
The creativity of our supporters in planning their own activities also continued to amaze us. From comedy nights to tombolas to endurance events and Christmas concerts, Mind supporters found so many ways to raise funds. In total, over 17,000 people took action in their communities to support the fght for mental health.
21,000 people also took part in Mind-organised events like Stadium Stair Climb and Big Brunch (which you can read more about overleaf). 7,000 people subscribed to Pause – our wellbeing subscription service. And we also want to celebrate the thousands of businesses and companies who chose Mind as their charity of the year or fundraised for us in 2023/24.
With all of our incredible fundraisers and supporters by our side, we’re unstoppable.
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**Mind Trustees’ annual report 2023/24**
## **Supercharging our fundraising**
In a tough fnancial climate, we reviewed our fundraising in 2023/24, joining with partners and teams across Mind to make sure all our events were working as hard as possible. This included developing new events and strengthening our most popular fundraising products.
## Launching a step-tacular challenge
In the autumn, 71 determined Mind supporters spent 90 minutes climbing up and down the 902 stairs in the West Stand at Chelsea’s Stamford Bridge stadium. They were taking part in another pilot fundraising event, this time encouraging more men to fundraise for Mind. Our unstoppable stair climbers had the chance to visit the dressing rooms and walk through the tunnel. And staf from Hammersmith, Fulham, Ealing and
Hounslow Mind were there to talk about local mental health support. The event raised a brilliant £29,000, and almost 3 quarters of the people who took part were men.
“Being at Stamford Bridge was amazing. Everyone involved should be so proud.” Anonymous
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**Mind** Trustees’ annual report 2023/24
## Serving up Mind’s Big Brunch
We showed the value of listening carefully and moving fast as we launched Mind’s Big Brunch in March 2024.
The idea came from innovation sessions we ran with volunteers with a connection to mental health, for example through caring for others. Together, we came up with a range of suggestions for a new fundraiser aimed at women in their 50s and 60s. We tested each idea to see which was the most popular, and Mind’s Big Brunch was born.
The aim is to encourage people to gather friends and family, catch up and create memories – all while fundraising for Mind. And it defnitely found an audience. Over 700 people signed up for Big Brunch, raising over £20,000.
It's important to be able to test ideas and learn fast to fundraise in new ways, and we’re delighted at how well Big Brunch went. It’ll be back in October 2024, and we’re determined to make the second event even bigger and better.
## Preparing to Unwind
Our Unwind fundraising product started with an idea from Bauer Media. The company contacted Mind wanting to create a puzzle booklet so supporters could relax away from screens and stresses while engaging their brains.
To check the idea's potential, we added it as a wild card to our innovation testing. Real audiences were ofered ads for several products that didn’t exist, to see how they performed. The puzzle booklet came out as a clear winner.
## Celebrating the return of in-person events
Live events were back with a bang in 2023/24. We sold out of places across our events, with more places than ever in many events. We also launched a new partnership with Great Runs, so supporters can now choose to run multiple races across the UK for Mind. And more people than ever also took on Do Your Own Running challenges for us.
## Celebrating the power of partnership
Clothing brand Seasalt Cornwall has raised an incredible £600,000 since our partnership launched in 2021. In 2023/24, Seasalt raised £290,000 – almost double the amount in 2022/23. Their amazing eforts included the ‘Brave the Weather Together’ campaign. It launched on World Mental Health Day in 2023 and showed the benefts of getting outdoors for mental and physical wellbeing. In 2023/24, our partnership was nominated for 3 awards and kept on exceeding our expectations.
We’d like to thank everyone who supported Mind in any way this year. It’s been a tough 12 months, but we’ve been inspired by your tenacity, creativity and passion for better mental health.
So we developed Unwind into a subscription product. Supporters donate each month and receive a booklet in return. This encourages people to give for longer, increasing income. And Unwind supports wellbeing too.
The pilot launch of Unwind started in mid-2024. If it goes well, we’ll roll out the product fully in 2025.
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Mind Trustees’ annual report 2023/24
Credit: Mind
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## Introducing With Women in Mind
There’s a vicious cycle between trauma and mental health. Support that takes trauma into account has never been more urgent. And with women more likely to experience traumatic events like sexual assault than men, there’s a particular need to support women, girls and non-binary young people.
That’s why, in 2023, we launched With Women in Mind. It’s a philanthropic giving collective, with supporters asked to give a minimum donation of £5,000 a year. Our aim is to raise £2.5m over 3
years, towards a programme reaching 100,000 of the young people most afected by trauma. We’d like to thank everyone who joined our collective. Together we can break the cycle of trauma.
## “We have the power to make a transformative change to young people’s lives and we should absolutely use it.”
Sophie Tea, artist and member, With Women In Mind
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**Mind** Trustees’ annual report 2023/24
## **How we spend our money**
In 2023/24, we spent £59.6m on our work to make sure everyone with a mental health problem gets support and respect. As with last year, this was planned spend in excess of income to use accumulated reserves, together with the income generated in the year, for maximum impact.
Overall, we spent £59.6m in 2023/24 (on top of the £19.8m we spent on running 170 shops and £0.4m on rafe and other activities).
Of this, £49.9m was used to directly support and advocate for people with mental health problems, which you can read more about throughout this report. Some of our work, like our workplace wellbeing consultancy, generates income while also delivering our charitable objectives.
We spend 83p in every pound supporting people with mental health problems. The rest goes towards running the organisation, including generating funds and planning for the future.
## Expenditure:
**----- Start of picture text -----**
Total
£59.6
million
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- [We connect minds...............................£7.2m, 12% ]
- [We support minds ............................£13.5m, 23% ]
- [We change minds.................................£6.5m, 11% ]
- [Together, we are Mind.................... £22.7m, 38% ]
- [Expenditure on raising donations, ] legacies, events and organisational development.............£9.7m, 16%
**----- Start of picture text -----**
Credit: Peter Flude
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Mind Trustees’ annual report 2023/24
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**Mind** Trustees’ annual report 2023/24
## **Looking ahead**
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## Mind’s refreshed strategy
In 2020 we launched an ambitious strategy which focused on supporting the people disproportionately afected by mental health issues. Since then, unmet needs have continued to rise, and it’s become clear that we must evolve our plans to have the biggest impact possible. In 2023 we reviewed and refocused our strategy to ensure we continue to tackle the mental health crisis with powerful impact up to 2030. We’ll still be supporting minds and changing minds, and we’ve brought our 3 strategic development priorities together under a new strategic pillar – equitable minds – emphasising our renewed commitment to
breaking the links between poverty, racism and mental health problems, and fghting for young people’s rights.
In April 2024, we moved to the new strategic implementation period 2024–2030 and will report against this from next fnancial year. Our new strategy wheel visually represents our refocused strategic ambitions and what we need to do to deliver on them. On the next page, for each of our strategic pillars we outline how we intend to deliver and implement our strategy in 2024–2025.
38
**Mind** Trustees’ annual report 2023/24
## Changing minds
We will:
- Deliver a high impact national campaigning and infuencing programme that ensures the UK government delivers a reformed Mental Health Act
- Secure commitments in party manifestos and UK and Welsh government programmes following national elections
- Increase focus on the stigma experienced by those with least understood experiences through a coordinated national and regional campaign strategy
## Equitable minds
We will:
- Evolve our partnership with The Black Mental Health Collective, our Race Equity Partnerships programme and our young people’s partnerships, as we support the growth and scale of our federation and improve our reputation as equity partners
- Maintain our current workforce racial and ethnic diversity (24.5%) and improve the percentage of staf of colour in higher grades
## Engaging minds
We will:
- Create and embed a new partnership and relationship building model for all stakeholders including donors, corporate partners, and associated coalitions
- Work with supporters and partners in England and Wales to build our understanding and evidence on the state of each nation's mental health
- Continue to strengthen our brand positioning and profle through the rollout of a refreshed case for support
## Supporting minds
We will:
- Deliver innovation programmes (Supported Self Help, Physical Activity and Women and Trauma) which identify sustainably funded, high-impact activities for federation frst delivery in future years
- Deliver our national ofer of gold standard information and support for mental health and mental illness in England and Wales, expanding our information service in line with available funding
- Develop a Mind voice that refects our commitment to equity and justice in mental health using the Speaking Out Framework
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**Mind** Trustees’ annual report 2023/24
## **Environment, social responsibility and governance**
## **Environmental sustainability**
The climate emergency is a major risk to society and our mental health. While it is not our charitable purpose to tackle the climate emergency, we must play our part in addressing its causes and adapting to its impact. As such, Mind is committed to becoming net zero by 2050 in order to contribute to an equitable climate recovery. Many of our activities, especially within our retail network, already have a positive impact. In response to the climate emergency, over this strategic period we will continue to improve, learn from others and share what we learn in order to meet this goal.
We are always working to reduce our carbon emissions. We continued to deliver on our ESOS audit recommendations including the roll-out of LED lighting replacements throughout our retail network. We continue to work to reduce waste, promote sustainable travel and utilise digital solutions to minimise carbon emissions where appropriate.
## **Streamlined Energy & Carbon Reporting (SECR)**
## **Methodology**
Mind engaged Inspired Energy to support its SEC Reporting. Scope 1 and 2 consumption and CO2e emissions data has been calculated in line with the 2019 UK government environmental reporting guidance. Emissions Factor Database 2023 version 1.1 has been used, utilising the published kWh gross calorifc value (CV) and kgCO2e emissions factors relevant for the reporting period. The following data relates to Mind’s annual energy consumption and CO2 emissions for 2023/24, with fgures from the previous reporting period included for comparison.
|**Utility and scope**|2023/24
Consumption
(kWh)|2022/23
Consumption
(kWh)|2023/24
Consumption
(tCO2e)|2022/23
Consumption
(tCO2e)|
|---|---|---|---|---|
|Grid-supplied
electricity (Scope 2)|1,942,912|2,335,022|402.33|451.55|
|Gaseous and other
fuels (Scope 1)|127,285|123,185|23.28|22.49|
|Transportation
(Scope 1)|744,240|639,966|174.23|145.39|
|Transportation
(Scope 3)|19,196|83,046|4.32|19.15|
|**Total**|**2,833,633**|**3,181,219**|**604.16**|**638.58**|
|**Intensity metric**|2023/24 FTE|2023/24 Intensity
metric|2022/23 FTE|2022/23 Intensity
metric|
|tCO2e / FTE|955|**0.63**|837|**0.76**|
## **Notes:**
Scope 1 consumption and emissions relate to direct combustion of natural gas and fuels utilised for transportation operations, such as company vehicle feets.
Scope 2 consumption and emissions relate to indirect emissions relating to the consumption of purchased electricity in day-to-day business operations.
Scope 3 consumption and emissions relate to emissions resulting from sources not directly owned by us. This relates to grey feet (business travel undertaken in employee-owned vehicles) only.
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**Mind** Trustees’ annual report 2023/24
## **Social responsibility**
## **Public beneft**
We have a duty to report on the public beneft that we deliver under section 4 of the Charities Act 2011. Taking the Charity Commission’s guidance into consideration, the board is satisfed that our public beneft requirements have been met and due consideration has been given to the Charity Commission’s published guidance.
## **Our people and policies**
## **Working with our staf communities**
Our people, whether that’s as employees or volunteers, continue to make our charity a valued and rewarding place to work.
Over the year, we have found better ways to listen to our people throughout their time with us at Mind and respond in a timely way that supports them and our strategic aims. For example, we held various workshops, meetings and surveys with our staf across the federation so that we could hear views and co-create values and behaviours that will guide how we work together and make decisions. Our revised values and behaviours launched across the federation in July 2024.
## **Current staf profle**
A total of 114 staf – 20% of our non-Retail workforce – answered yes when asked: ‘Do you consider yourself to have a disability?’. For our Retail workforce, this was 10%. The gender split of our non-Retail workforce showed 76% of respondents identify as female, 23% identify as male and 1% identify as non-binary. Within Retail, 80% identify as female and 20% identify as male.
Following our organisational restructure in 2024, our national Mind workforce includes 108 (24%) people from Black or ethnic minority backgrounds. Within Retail, this is 22%. Improving the racial diversity of our workforce continues to be a priority for Mind as evidenced by our anti-racism learning for our senior leaders.
## **Developing the staf experience**
We’ve continued to evolve a workplace culture that is inclusive, promotes workplace wellbeing and continues to build relationships across our federation. We do this by holding crossorganisational events that encourage staf to share stories of wellbeing and mental health. We also enable staf networks to hold their own internal events relating to identity.
We routinely listen to and understand the wellbeing and development needs of our staf through listening forums such as staf forums and surveys and have used this insight to update our wellbeing ofer. Our holistic wellbeing ofer includes an employee assistance programme, refective practice, a cofee ‘buddy’ system, access to fnancial health advice and regular internal events which focus on the fve pillars of wellbeing. These are ofered online as well in person.
We also promote fexible working practices and have core opening and working hours within our shops, showing our strong commitment to a healthy work-life balance. Our shops also promote a social, friendly and inclusive environment for our colleagues and volunteers.
We adopt a hybrid working model for our ofcebased roles, acknowledging the benefts of working from home but also the importance of the ofce environment for social interaction, collaboration and supporting individual needs. Our ofces in Cardif and London have designated wellbeing spaces for diverse needs.
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**Mind** Trustees’ annual report 2023/24
We aim to give everyone clear meaning and purpose as we work to deliver our new strategy. We have developed our process for conversations around performance and development by promoting regular and meaningful conversations between managers and their team members. We provide standard templates to support these conversations, along with clear conversation guides.
The Mind manager development programme will relaunch later this year afer a pause to prioritise the Next Chapter change programme. Our reverse mentoring programme will be reconsidered alongside the review of our strategy to ensure that it meets our future vision and desired impact for our staf.
Last year, the people development team successfully introduced an internal mentoring learning programme in collaboration with the fundraising team. The programme will be evaluated later this year so that we can continue our success and enhance the learning experience for our people.
We have now developed a professional boundaries development programme. This blended learning course aims to help people to build their awareness and confdence in setting reasonable boundaries with others and to know what is available if our boundaries are breached in the workplace. This awareness of boundaries can positively infuence how we work best together whilst boosting individual opportunities to thrive.
In July 2024 we launched a structured process for our internal coaching programme to support demand. Our internal coaching ofer supports our people to develop in a variety of areas such as personal or professional or wellbeing development.
By the end of the frst quarter of our 2024/25 year, the overall mandatory training completion rate was 75%. Our target for mandatory training completion is set at 90%. Whilst current completion rates show over 11% increase on the previous year, we will continue to review how we can improve mandatory training completion.
## **Equity internally at Mind**
As part of equity work, we’ve launched a range of initiatives to make Mind an inclusive workplace. For example, we have worked to improve the diversity of staf at all job levels. We have increased our capability to provide mental health support to marginalised groups, particularly young people, racialised communities and people experiencing poverty. We’ve also established the advancing mental health equity group which advises our people and culture committee – the committee that oversees the delivery of the various equityfocused initiatives across Mind. This way, prioritisation of marginalised groups is embedded in the governance of Mind at a senior level.
To identify areas of improvement within Mind, we’ve undertaken an audit of staf across national Mind gathering views about what Mind could do to improve how we support staf from marginalised groups. Recommendations from the report focus on Mind’s policies, leadership and culture. The recommendations will become integrated into plans and priorities across teams at all levels at Mind. This further supports the prioritisation of equity in everything we do through Mind’s corporate strategy.
## **Stakeholder engagement**
In order to best support those with mental health needs, today and in the future, we must take account of what is important to our stakeholders. This is best achieved through proactive and efcient engagement. In accordance with the Charities SORP (FRS 102), we have outlined throughout this report examples of how we engage with our employees and take care of their interests. We have also shown how we have engaged with other stakeholders, including those with lived experience, local Minds and those charged with shaping mental health policy.
We recognise that each stakeholder group requires a tailored approach to engagement. By understanding our stakeholders, we can factor into board discussions the potential impact of our decisions on each stakeholder group and consider their needs and concerns, in accordance with s172 of the Companies Act 2006.
The trustees, who are directors for the purposes of the Companies Act, can therefore confrm that in accordance with Section 172 (1) of the Companies Act, they act in a way they consider most likely to achieve the purposes of the company. In making this assessment the trustees consider the relevant actions of the board. Engagement with all stakeholders is described throughout this annual report.
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**Mind** Trustees’ annual report 2023/24
Taking the areas required for disclosure in turn:
## 1. The likely consequences of any decision in the long term
Mind’s long-term sustainability is considered by the trustees as set out in the funds position and reserves policy and going concern sections on page 57. The fnance, risk and audit committee and the executive team review management information, budgets, forecasts, cash fow projections and progress against budget on a regular basis. Risk management is also discussed in detail in this report, from page 48 onwards.
## 2. The interests of the company’s employees
Our employees and volunteers make our charity the special place it is today. We are proud to say that over 50% of our staf have their own lived experience of mental health problems. Their experiences help inform our work and our people policies. Mind promotes fexible working practices to show our commitment to a healthy work-life balance, routinely measures the wellbeing of our people, and receives feedback on employee wellbeing through regular surveys and collaboration with our staf forum. The board receives regular workforce updates in respect of all of the above. Further information is detailed on pages 41 and 42 under the Our people and policies section.
## 4. The impact of the company’s operations on the community and environment
In 2023/24 Mind was able to support the incredible work of local Minds in their communities. Examples of this work are given throughout this report. Mind’s environmental approach, in compliance with the Streamlined Energy and Carbon Reporting (SECR), is detailed on page 40.
## 5. The desirability of the company maintaining a reputation for high standards of business conduct
Mind operates a compliance assurance framework to manage regulatory and legal risk and is committed to complying with all applicable laws and regulations relating to fraud, bribery and corruption.
## 6. The need to act fairly between members of the company
The trustees understand the Charity Commission requirements and understand the need to avoid and manage potential conficts of interest.
## 3. The need to foster the company’s business relationships with suppliers, customers and others
Lived experience sits at the heart of all we do, in particular our work with our benefciaries, and all of our engagement with key stakeholder groups involves consideration of lived experience. We work with over 100 local Minds and over 37,000 campaigners and members across England and Wales to change attitudes and perceptions related to mental health and to support those in need.
Mind maintains a positive relationship with its suppliers, ensuring all non-disputed invoices are paid within 30 days in line with Mind’s agreed payment terms. Our business partnerships are further outlined in the fundraising strategies and approaches section on page 51.
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**Mind** Trustees’ annual report 2023/24
## **Certifcations**
We work to the following standards and certifcations:
## **Fundraising Regulator**
We operate in line with the standards set out in the Code of Fundraising Practice by the Fundraising Regulator and maintain a formal complaints procedure. We fully support the selfregulation of fundraising and are committed to providing our supporters with the best possible level of service.
## **Helplines Partnership**
Our telephone-based information line, Mind Infoline, is accredited by the Helplines Partnership’s Quality Standard.
## **Mind Quality Mark**
## **Information standard**
Our information services are accredited by The PIF (Patient Information Forum) TICK quality mark for health information. This guarantees a quality standard for the accuracy and accessibility of our information.
We operate a quality assurance programme across our local Mind network. The Mind Quality Mark sets a comprehensive range of standards that all local Minds are required to meet as a condition of afliation. Each local Mind is fully reviewed at least every three years as well as providing an annual update. Mind itself is also reviewed at least every three years to ensure it meets the MQM standards.
## **Governance**
Mind (The National Association for Mental Health) was founded in 1946 and is registered in England and Wales as a company limited by guarantee (number 424348) and a charity (number 219830). Our registered ofce address is 2 Redman Place, London E20 1JQ.
We are also the sole benefciary of a wholly owned subsidiary, Minds Matter (Trading Activities) Limited (sometimes shortened to MMTA or referred to as Mind Retail), which operates a network of Mind shops across England and Wales.
These accounts do not consolidate the results of the local Minds, each of which is an independent charity responsible for its own funding and services. We work together in partnership with local Minds, funding and supporting their excellent work delivering high quality mental health services across England and Wales.
## **Equality and diversity**
Our goal is to be truly inclusive, beneft from diversity and appreciate everyone for their individual contribution. Details of our new strategic pillar, equitable minds, can be found on pages 28–29. And on pages 38–39 we set out how we plan to deliver and implement our strategy in 2024/25.
## **Board of trustees and committees**
We are governed by our board of trustees which meets formally at least 4 times a year. The board approves the charity’s strategy and is responsible for ensuring that our broad policies and strategies are in keeping with our mission. They provide guidance on projects such as the expansion of our Helplines and support our campaigning work to change public and political attitudes to mental health. Our trustees are all volunteers and have a wide range of experience. They come from across England and Wales, from diverse backgrounds, and over half of them have personal experience of mental health problems. Trustees who served during 2023/24 are listed on page 46.
44
**Mind** Trustees’ annual report 2023/24
Trustee recruitment and selection is managed by our nominations and remuneration committee, which comprises our chairman, vice chairs and honorary treasurer. Our articles of association allow up to 16 trustees on the board: up to 8 to be elected by Mind’s membership and up to 8 to be appointed directly by the board. Trustees are appointed for an initial 3-year term and may be re-appointed for up to 2 further terms. Before we advertise for trustees, we conduct an analysis of the skills we require. All trustees have a tailored induction programme and receive detailed guidance outlining their responsibilities.
Each year, the board of trustees reviews its schedule of delegation. This describes the matters reserved for the board and those which are delegated to board sub-committees and to the chief executive and executive team of directors. The chief executive is responsible to the board of trustees for the day-to-day running of the charity and for delivering our organisational strategy and policies. We ensure that our governance structure, documents and practices are aligned with relevant Charity Commission guidance, including the Charity Governance Code.
Our 5 standing subcommittees meet at least quarterly and each has a terms of reference describing its role and responsibilities. The committees are:
- Nominations and remuneration committee
- Finance, risk and audit committee
- Federation frst committee
- People and culture committee
- Pwyllgor Cymru (Welsh committee)
In addition, a pensions committee meets as necessary and at least annually. The chairs of our sub-committees are all experienced members of the board. The board of directors of Mind Retail includes 2 Mind trustees and other volunteers with retail experience. The retail board meets 4 times a year and the chair of the retail board reports to Mind's board of trustees. During 2023/24, we continued to strengthen the links between the national Mind and retail teams to ensure the relationship between Mind and its retail subsidiary is as efective as possible.
We have a confict of interest policy which requires us to identify and record any conficts of interest held by trustees and executive team members. Any conficts arising are formally recorded at meetings of the board. All committee meetings have declarations of interests as a standing agenda item and, where a confict arises, we ensure our policy is followed.
The board of trustees annually reviews its own performance and the performance of the chairman. Twice a year, the board and executive team members have a special board meeting to review strategy and to discuss changes in the operating environment.
As recommended by the Charity Governance Code, every 3 years the board commissions an external evaluation to consider the board’s efectiveness and the charity’s governance. The most recent evaluation took place in the second quarter of 2023, with initial fndings and draf recommendations presented to the board in June 2023. Trustees agreed with nearly all of the recommendations and implementation of the agreed recommendations is mostly complete.
45
**Mind** Trustees’ annual report 2023/24
## **Our people**
## **Patron**
HRH Princess Alexandra, The Honourable Lady Ogilvy KG GCVO
## **President**
Stephen Fry
## **Board and committee members**
The trustees listed below served on the board between 1 April 2023 and 18 September 2024, the date of signing the trustees’ report and accounts.
|**Trustee**|**Year**
**appointed**|**FRAC**|**P&C**|**FF**|**C**|**R**|**NRC**|**PC**|
|---|---|---|---|---|---|---|---|---|
|**Stevie Spring CBE (Chairman)**|2018||||||✤|✤|
|**Richard Addy1 **|2022||||||||
|**Lynette Charles4 **|2024|||◊|||||
|**Emrys Elias**|2016||||◊◊||||
|**Pippa Glucklich**|2020|◊|||||||
|**Valerie Harrison**|2017||◊|◊|◊||||
|**Anna Hughes**|2017|◊◊||||◊|✤|✤|
|**Alex Jensen**|2016|◊|||||||
|**Rohan Kallicharan2 **|2021|◊|||||||
|**Cynthia Ko**|2021||◊||||||
|**Jonathan Phelan**|2024|||◊◊|||||
|**Alyson Scott**|2018||◊||||||
|**Shubulade Smith**|2020|||◊|||||
|**Christer Stoyell**|2016|||||◊|||
|**Joanne Theodoulou (Vice chair)**|2016|||◊|||✤||
|**Jude Trenier**|2021||◊◊||||||
|**John Wilderspin3 (Vice chair)**|2019|||◊◊|||✤||
## **Committees**
- Finance, risk and audit (FRAC)
- People and culture (P&C)
- Federation frst (FF)
## **Key**
◊◊ Committee chair
◊ Committee member ✤ Ex ofcio
- Pwyllgor Cymru (C)
- Retail board (R)
- Nominations and remuneration (NRC)
- Pensions (PC)
## **Notes**
1. Richard Addy resigned from the board in August 2023.
2. Rohan Kallicharan resigned from the board in May 2024.
3. John Wilderspin resigned from the board in June 2024.
4. Lynette Charles and Jonathan Phelan were appointed to the board in June 2024.
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**Mind** Trustees’ annual report 2023/24
## **Non-trustee committee members**
The following people sat as external members of our committees or directors of the Retail board at the date of signature of this trustees’ report.
|**Committee**|**Member**|**Committee**|**Member**|
|---|---|---|---|
|Finance, risk and audit
(FRAC)|Mary Gaughan
Paul Ronald|Pwyllgor Cymru (C)|Keith Lloyd
Tracey Price
Sara Moseley
Phill Chick
Mary Grifths
Elin Roberts|
|Federation frst (FF)
Pensions (P)|Robin Holden
Stevie Rice
Helen Davey
Pip Galland
Stephen Hill
Tim Durkin|Retail board (R)
People and culture
(P&C)|Ian Ruddock (chair)
Alan Ritchie
Sally Hyndman
Helen Kemp
Paul Ward
Andrew Vale
Katharine Hagley
Hasnain Merali
No external members|
## **Executive team**
|**Executive team**||
|---|---|
|
Sarah Hughes|Chief executive|
|Paul Ward|Deputy chief executive and company secretary|
|
Kathleen Miles|Executive director of fundraising income|
|
Susan O’Leary|Executive director of Mind Cymru and social impact|
|Andrew Vale|Executive director of commercial income|
|Philip Walsh|Executive director of fnance and infrastructure|
|Jennifer Walters|Executive director of social change|
## **Celebrity ambassadors**
Mind’s ambassadors support our President, Stephen Fry, by promoting our work as widely as possible and encouraging more people to support Mind and use our services. They are committed to our cause and to raising awareness of mental health problems.
Anne-Marie Clarke Carlisle Nicholas Pinnock Ruby Wax OBE Frankie Bridge Fearne Cotton Duke McKenzie MBE Denise Welch Beverley Callard George Ezra Stuart Semple Anna Williamson Alastair Campbell Matt Johnson Grace Victory Zoe Sugg
## **Professional advisors**
**Legal advisors:** Anthony Collins Solicitors, 134 Edmund Street, Birmingham, B3 2ES **Auditor:** Crowe U.K. LLP, 55 Ludgate Hill London EC4M 7JW **Bankers:** NatWest Group, 1st Floor, 440 Strand, London, WC2R 0QS **Investment advisors:** Cazenove Capital, 1 London Wall Place, London, EC2Y 5AU
47
**Mind** Trustees’ annual report 2023/24
## **Risk management**
Mind reviews risks on an ongoing basis through our board of trustees, sub committees and executive team. These groups manage existing risks and identify new risks. We consider the impact and likelihood of every risk and give particular attention to the management and mitigation of the most severe risks.
Our risk management process and the risk and opportunities register are scrutinised by our fnance, risk and audit committee. The committee also reviews our internal controls and the work of our internal and external auditors.
Risks are divided into key components and the responsibility for the management of each is assigned to and managed by a senior manager. The risk register is continuously reviewed and, where appropriate, revised to capture the tolerance of the risk appetite and to indicate whether risks are accepted, mitigated, eliminated or transferred. The fnance, risk and audit committee reports quarterly to the board of trustees on risk.
We categorise our risks as strategic, reputational, fnancial, operational and contractual. The trustees have taken all reasonable steps to mitigate and manage these risks, including:
- Operating a risk register for the charity as a whole
- Operating risk registers for each directorate and major project
- Providing risk training for managers
- Operating a compliance assurance framework to manage regulatory/legal risk
- Where practical and appropriate, insuring against risk
Mind’s overall level of risk increased during 2023/24 as the challenges of our external environment grew, with an overall deterioration of mental health across England and Wales and high and growing levels of need, and inequality of mental health and health service access. This is compounded by the fall, in real terms, of funding.
The principal risks facing the charity and the mitigating actions for each risk are set out below.
## **1. Increased demand for mental health services**
The mental health crisis in England and Wales is deepening, due to increased demand, insufcient funding, insufcient services, unacceptable inequality of care, unacceptable levels of stigma associated with severe mental illness for diferent minority communities, and the quality of mental health services and user experience being unacceptably low.
The deteriorating operating environment in relation to public policy, public discourse and attitudes, and the reduction in real terms of public expenditure on mental health, inhibits our ability to deliver our strategic ambition for mental health.
Across our federation the risk is that Mind will be unable to change sufciently quickly to respond to the changed external environment. Mind is having to change signifcantly to continue to both support benefciaries and be efective in a rapidly changing world. This has implications for the types of work we do, how we organise ourselves to deliver this work, and how we best remain responsive to meet the needs of our benefciaries.
To mitigate this risk, Mind has:
- reviewed and refreshed our strategy to focus on delivering the social change and social impact needed to fght for mental health in a less welcoming environment
- strengthened our campaigning to draw attention to and engage people in our work to tackle underfunding and poor quality mental health services
- undertaken work with local Minds and Mind Retail to ensure that we have maximal collective impact across the Mind federation as a whole.
48
**Mind** Trustees’ annual report 2023/24
## **2. Financial uncertainty and federation sustainability**
Mind is unable to raise the money needed to support a growing level of unmet mental health need due to a tighter funding environment, resulting in having fewer resources available to deliver its strategic ambition.
The funding environment for mental health has deteriorated signifcantly during the past year. This has been seen in challenges in maintaining previous income levels in our public donations and community fundraising, as well as in the monies which we raise with grant making bodies and companies. Locally, we are seeing statutory funding bodies in the NHS and local government experiencing funding pressures resulting in insufcient resources being available to support the front line service delivery work of local Minds.
To mitigate this risk, Mind has:
- streamlined the organisation and strengthened connections nationally and locally. The restructure carried out as part of the Next Chapter change programme will enable improved value for money so that every pound raised has more impact for benefciaries
- focused on the strategy for fundraising work and expanded our Mind retail network so that we are best placed to raise money from potential supporters as well as existing supporters
- ensured that this work is informed by our equity and diversity programme to raise awareness in our workforce on diversity and inclusion.
## **3. Culture and diversity**
Mind will face reputational damage if it is unable to adequately meet the needs of racialised communities and unless it signifcantly strengthens its approach to race equity, diversity and its culture.
We know that people of colour have higher levels of need for mental health services, and that services all too ofen insufciently meet their needs. Racism and discrimination are ofen root causes of these higher levels of need. We also know that we as a charity must signifcantly change our approach and create a more inclusive culture. We have to work harder to address the needs and expectations of racialised communities and do considerably more to be able to rise to this challenge.
To mitigate this risk, Mind has:
- created the advancing mental health and equity group, an advisory group to oversee progress on race, equity and inclusion
- created an action plan to respond to an equity audit that focuses on culture, leadership and structural change to address race equity across the organisation
- established a stronger strategic focus with our new strategic pillar, equitable minds, to have a real impact on tackling mental health injustice for some racialised communities
- established a renewed focus on tackling the enduring stigma associated with severe mental illness
- ensured that this work is informed by our equity and diversity programme to raise awareness in our workforce on diversity and inclusion.
49
**Mind** Trustees’ annual report 2023/24
## **4. Cyber security and safeguarding**
Mind will experience disruption to its work and its ability to deliver its strategy if there are insufcient arrangements in place for cyber protection and safeguarding.
The risk is that non-compliance might result in damage to the charity’s operations and harm to individuals. The overall level of risk at national Mind and Mind Retail is historically well-managed but external threats have increased, with the increased sophistication of hacking groups leading to major incidents, some targeted at charities.
Mind must ensure that its defences are strengthened and that any IT breaches are treated in a timely and appropriate manner.
In addition, the increase in volume and complexity of demand for mental health services has led Mind to review our approach to safeguarding so that it refects best practice and provides a more proactive management of actual and potential risk.
To mitigate this risk, Mind:
- carries out a regular IT security audit using the NCSC 10-step security guidance and implements recommendations for further strengthening of IT security
- regularly trains staf to increase awareness as well as clarify the actions to take in the event of a cyber attack
- undertakes full hacking simulation to surface areas of risk that vulnerability scanners may not identify relating to Mind’s website and wider network
- has launched enhanced safeguarding and Disclosure and Barring Service (DBS) policies for staf and volunteers
- has designed and delivered training for all staf and managers, and bespoke training for specifc frontline teams, to give colleagues the confdence to appropriately manage data protection and safeguarding incidents.
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**Mind** Trustees’ annual report 2023/24
## **Fundraising strategies and approaches**
The year saw many fundraising highlights. 27,000 people fundraised for #TeamMind raising £13.3m. Our brilliant fundraisers took part in organised marathons, cycles and challenges including our London Marathon team who collectively raised £1.7m. We partnered with some fantastic organisations to raise money for Mind’s work including Dunelm who at the end of 23/24 had raised an incredible £1.8m against their £1m fundraising target. On top of that, they sponsored the Chelsea Flower Show garden move and donated thousands of pounds worth of furniture to local Minds throughout the partnership. We worked with over 3,000 organisations on their Mental Health at Work Commitment, reaching over 5.2m people. And through our innovation function, we tested 11 new fundraising ofers resulting in several new successful events including Feelgood Fortnight and Mind's Big Brunch.
We have reassessed our overarching fundraising plans, ensuring that we invest in areas that will maximise our income potential. Our commitment to a dual fundraising approach (virtual and in person) has continued to deliver tangible benefts and we will continue to identify new fundraising opportunities and mitigate against risks to our plans. We have bold ambitions to develop and evolve our fundraising, with the key focus being on agility and innovation to help ensure that we have the resources necessary to tackle the nation’s mental health crisis.
**Legacy giving:** People can choose Mind as a benefciary when they are planning their will and we invested further in our legacy giving programme throughout 2023/24.
**In memory giving:** Choosing to donate or fundraise in memory of a loved one who has died provides supporters with a unique opportunity to honour someone they have lost while at the same time raise money for our vital work.
## **Partnership fundraising**
Our partnership fundraising team works with charitable trusts, companies and statutory funders who want to invest in improving mental health. Some of these funders specify how they want their money to be spent and we work with others to support our strategic priorities.
## **Workplace wellbeing and commercial training**
Our workplace wellbeing and commercial training involves supplying mental health-related training and consultancy services to external organisations and receiving payment for these services. We operate a Workplace Wellbeing Index as a benchmark of best policy and practice and to celebrate and inform the good work employers are doing to promote and support positive mental health.
## **Fundraising infrastructure support**
In 2023/24, we focused on the following fundraising activities:
## **Public fundraising**
**Individual giving:** We have continued to deliver fundraising campaigns through email, text, post and phone to showcase our work and generate either one-of or regular donations to help us do even more.
**Community and events:** We have provided opportunities for people to participate in thirdparty events (for example marathons, cycles and challenges) to raise money for us. We have also supported 10,000 individuals and businesses who organised their own fundraising events and challenges to raise £6m and we organised 8 month-long active challenges where c. 12,000 participants walked, cycled, squatted and did yoga to raise £1m.
In 2023/24 we invested in our support teams to ensure we have the right infrastructure to deliver excellent fundraising and facilitate our ambitions to grow.
Our supporter relations team acts as the main point of contact for Mind’s supporters and is passionate about ensuring their complaints, queries and questions are handled to the highest possible standards.
Our data analytics and data stewardship teams monitor the efect and use of our data, ensuring we use the appropriate information to make decisions and deliver an excellent supporter experience.
Our fundraising and income generation support department coordinates planning to ensure we are maximising our income generation potential.
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**Mind** Trustees’ annual report 2023/24
The department ensures that:
- all fundraising activities are delivered in line with the legal and best practice standards required by the charity sector’s regulators
- we are delivering maximum value for money
- through innovation, we continue to evolve our fundraising.
The team also supports the network of local Minds with their fundraising and income generation, providing training, consultancy and guidance on best practice.
Our director of fundraising income has overall accountability for Mind’s fundraising work. She has more than 20 years’ experience in fundraising and oversees a team of over 150. Mind has a schedule of delegation in place to make sure any fundraising decisions requiring input from trustees are identifed and escalated appropriately.
## **Fundraising standards**
We are in the process of reviewing our fundraising operational procedures to ensure they appropriately refect the changing fundraising landscape and mirror our commitments to working in a more collaborative way with the local Mind network.
As registrants to the Fundraising Regulator, we are passionately committed to ensuring that our fundraising activities are delivered to the highest standards and align with the requirements of the Code of Fundraising Practice (the Code). We ensure any changes to the Code are refected in our ways of working to help ensure that we remain compliant with its standards. We have also provided detailed feedback to the consultations launched by the Fundraising Regulator in 2023/24.
We have made signifcant changes to our ethical fundraising and investment policy, following the completion of a full review with Mind staf, benefciaries, supporters and the local Mind network. There are now 6 (instead of one) excluded industries from which Mind will not accept ofers of support. They are:
- Pharmaceutical manufacturers
- Tobacco
- Funding from political parties
- Pornography
- Arms and weapons manufacturers
Alongside these changes, we have made updates to our ethical appraisal process overseen by a new streamlined ethical appraisal group consisting of senior leaders from across the organisation. The changes we have made to the process will help to ensure that decision-making about whether to pursue a particular partnership or funding opportunity are robust, consistent, align with our strategic priorities and keep the best interests of our benefciaries front and centre.
## **Fundraising contractors**
As some of our fundraising activities require specialist support, we work with several carefully selected external agencies for:
- Telemarketing calls to potential and current donors
- Creative, media and marketing support to help us maximise the potential and impact of our fundraising campaigns
- Free will service providers to ensure we carry out supporters’ wishes to leave us a legacy in their wills
- Distributing fundraising materials for people participating in fundraising events
- Processing donations.
We have contracts in place with all our third-party fundraising partners and agencies and keep them under regular review. We require our partners to operate in line with industry codes of practice, the Telephone Preference Service (TPS) framework and UK GDPR, as well as Mind’s detailed guidelines for safeguarding our supporters and treating them fairly. We have robust quality assurance programmes in place to help ensure that our fundraising partners continue to maintain the highest standards and all new suppliers undergo a process of competitive selection and appropriate due diligence checks.
## **Fundraising quality incidents**
We routinely monitor the quality of our fundraising work. During 2023/24 there were no reported incidents in which a contractor failed to operate to the required standard. 264 quality incidents relating to fundraising were reported. The majority related to supporter safeguarding concerns. 6 were incidents related to potentially fraudulent fundraising which, depending on the context, were either fagged to the police or to Action Fraud.
- Fossil fuel extractors
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**Mind** Trustees’ annual report 2023/24
## **Fundraising complaints**
We closely monitor fundraising complaints we receive from donors and members of the public to help ensure that lessons are learnt and embedded into new ways of working where necessary.
During 2023/24, we received 195 complaints about our fundraising activities, compared with 121 in the previous year. The majority of complaints related to customer care and supporter stewardship, the nature of the fundraising activity itself as well as the behaviour of individual fundraisers. There were several payment-related complaints relating to our fagship fundraising product, Pause, and the team took immediate action to resolve these.
## **Protecting vulnerable donors**
We have substantive guidelines and bespoke staf training in place to help us better identify the circumstances under which supporters may access additional support, and equip staf managing those conversations with the necessary tools to manage them efectively.
We have an established safeguarding system in place to appropriately manage relationships with people who may be in vulnerable circumstances. We are passionate about empowering supporters so that they can decide how they would like to interact with Mind.
We keep our guidelines and training programmes relating to this area under constant review and throughout 2023/24 fundraisers attended new safeguarding training.
The children and young people safeguarding policy has now been embedded into ways of working and is incorporated into fundraising activity and stewardship.
Finally, slavery and human trafcking are fundamentally opposed to Mind’s core values which is why we are committed to complying with all requirements of the Modern Slavery Act 2015. You can read our full modern slavery statement on our website.
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**Mind** Trustees’ annual report 2023/24
## **Financial review**
## **Summary**
Thanks to the hard work of our internal teams and our brilliant supporters over the last couple of years, we have been able to meet the growing mental health need from accumulated reserves in 2023–24. The external fnancial environment has been characterised by signifcant volatility in recent years and the challenges have impacted Mind’s income generation, so we have refocused expenditure to best support those in need.
Our total income of £62.7m together with a gain on investments, less our total expenditure of £79.8m resulted in a planned net defcit for the year of £16m. The corresponding reduction in reserves from £38.5m at the beginning of the year to £22.2m at year end refects the second year (of three) of our strategic and planned expenditure on mental health services from the reserves accumulated through our pandemic emergency appeal. As elements of this investment have come to an end, and with the refresh of our strategy, Mind has undergone a signifcant restructuring during the year, with the formation of new directorates focused on our Next Chapter as an organisation in support of our federation and focused on benefciaries. This has resulted in signifcant stafng changes and redundancies.
Our approach has been to forecast with a number of assumptions that we keep under review. This ensures that sufcient advance planning and thinking has been done in the event of economic downturn to enable a managed response. We have invested in cost of living support, our local Minds, and digital innovation, in addition to our strategic pillars. Overall:
- Our total Mind income of £62.7m was £3.5m higher than 2022/23.
## **Combined income**
Our total combined income, for Mind and Mind Retail, was £62.7m. This is shown in the pie chart below with a summary of key sources and the relevant size of that income for the year.
**----- Start of picture text -----**
Total
£62.7
million
**----- End of picture text -----**
- [Income from charity shops (£25.4m) .........41% ]
- [Voluntary income (£30.8m)..........................49% ]
- [Training courses, project fees ] and investment income (£4.4m)....................7%
- [Grants received for charitable ] activities (£2.1m).................................................3%
Our voluntary income includes donations and legacies of £17.4m which was £0.9m less than the previous year, a decrease of 5% representing the challenging fundraising environment we faced.
Income from challenge events increased by £2.5m. Income from legacies was £3.9m. Income from our charity shops increased by £2.6m (11.6%), thanks to the generosity of the public in giving and shopping with us and the hard work of the team in delivering and opening new shops. Our total income is £62.7m which includes £25.4m income from Minds Matter (Trading Activities) Ltd.
- We were still able to spend £49.9m on our charitable activities, supporting people with mental health problems.
54
**Mind** Trustees’ annual report 2023/24
## **Total spend**
Our total Mind group expenditure increased by £7.2m to £79.8m, a 9.9% increase. Expenditure on charitable activities increased by £3.6m to £49.9m, a 7.8% increase. The majority of our expenditure continued to be directed to our charitable work, including our 3 strategic priority areas: supporting people in poverty, supporting young people, and becoming a truly anti-racist organisation. Collectively this helps to fght for support and respect for millions of people facing mental health challenges.
The cost of generating funds for our fundraising department and shops increased by £3.6m (13.9%) to £29.8m. This represents the combination of the pressures of infation and the opening of more shops.
Expenditure on generating funds in 2023/24 comprised £9.7m in fundraising costs and £20.2m to run the Mind Retail network of 170 shops with a small amount spent on rafe and other activities. Public fundraising and regular giving income increased in the year, and we’ve increased the resources we have dedicated to supporting them.
The pie chart below summarises key areas of expenditure and their relevant size in relation to total expenditure.
## **Combined expenditure**
**----- Start of picture text -----**
Total
£79.8
million
**----- End of picture text -----**
- [We connect minds (£7.2m) ..............................9% ]
- [We support minds (£13.5m) ...........................17% ]
- [We change minds (£6.5m) ...............................8% ]
## **Charitable expenditure**
Our charitable expenditure was £49.9m – that’s £3.6m, or 7.8%, more than the previous year. Our accounts show our expenditure against each of our strategic pillars below. (Note that our strategic pillars changed slightly with efect from 1 April 2024 – see the Looking ahead section on page 38). This represents a mix of restricted funded programmes and unrestricted expenditure which we have invested in charitable activity.
## **Expenditure by key activities**
**We connect minds.** No one can take on this mental health emergency alone. But, as the nation’s leading mental health charity, we can connect people and organisations who want to join the fght for mental health. Expenditure was £7.2m.
**We support minds.** By delivering life-changing mental health support and producing information that’s more widely relevant, we will help more people get the help they need, stand up for their rights and live their lives fully. Expenditure was £13.5m. This encompasses our information service work, including our infoline and legal line, together with community programmes and our supported self-help ofer delivered by 48 local Minds across the network.
**We change minds.** People need support right now, but they also need long-term change to the way society views, supports and funds mental health. Through this strategic pillar, we’ll speak out boldly in the face of injustice, to make sure we can all get support and respect. Expenditure was £6.5m including our policy and campaigns work.
**Together, we are Mind.** To respond to the mental health emergency, we must become a more inclusive and efective federation. We will only be able to achieve our ambitions with the generous support of funders and supporters. Expenditure was £22.7m and includes a signifcant number of grants to local Minds in support of their vital work across England and Wales. This also incorporates our Co-op work. The Co-op partnership aims to empower people experiencing, or at risk of, mental health problems to develop the skills needed to efectively support both their own and others’ mental health and wellbeing.
- [Together, we are Mind (£22.7m).................. 29% ]
- [Donation and legacy costs (£9.7m)............. 12% ]
- [Cost of shop sales and rafe (£20.2m)..... 25% ]
55
**Mind** Trustees’ annual report 2023/24
## **Fundraising costs**
We rely heavily on donations, events income, legacies, shop profts and grant income to help us carry out our vital charitable activities. We continue to work hard to raise funds to meet the increasing mental health need fallout from the pandemic. This unrestricted income is crucial to our independence as a campaigning charity.
While the costs of recruiting donors and running shops are signifcant, these are comparable with other charities and they remain very efective ways of raising income to spend on our charitable purpose.
## **Shop costs**
The net proft of £5.6m from our charity shops is down on our record previous year, but is nevertheless a signifcant contribution to the charity. The overall provision for dilapidation is £150,000 and there were no additional provisions made in the year. This is in line with good practice and is a prudent approach.
In addition to raising vital unrestricted funds of £25.4m, our shops also contribute to our mission. They provide a community for volunteers and are ofen a frst step for accessing information about mental health.
Our shops continued to have a benefcial environmental impact, diverting 1.8 tonnes of textiles alone from landfll waste during the year.
## **Investments**
The trustees have the power to invest in assets as they see ft. They have reviewed our investment strategy, policy and management over the year.
We believe in a positive, socially responsible approach to investment. We are absolutely independent of the pharmaceutical sector. Mind does not directly invest in companies that manufacture pharmaceuticals, tobacco, or companies that are involved in payday lending. We maintain this independence by investing in a segregated portfolio rather than a pooled fund, with discretionary management of the portfolio handled by Cazenove. Cazenove acts on our behalf in voting and engaging with companies on environmental, social and governance issues, and reports on this to us quarterly.
Performance is measured by comparing income to targets set at the beginning of the year and measuring capital growth against relevant benchmarks. The volatility seen in 2022–23 due to the external geo-political environment continued into 2023–24 with some recovery in global markets. The value of our investment portfolio has reduced due to planned expenditure drawdown. The closing value of the investment portfolio was in line with the investment managers’ and management’s expectation at the end of the year.
## **Pensions**
The fnal salary scheme has been closed for future accruals, however it remains a liability for the charity. As a result of work undertaken in recent years, the level of assets and liabilities was broadly in balance with a defcit of £186k as at 31 March 2024. The actuarial valuation has been calculated in line with the Financial Reporting Standards 102 (FRS 102) and is included in the statement of fnancial activities. At 31 March 2024, there is a pension reserve of £1.3m in respect of potential future liabilities. Further detail is provided in note 23.
The trustees confrmed our policy of maximising total return on investment within our agreed framework, taking the organisation’s appetite for risk into account. This helps us optimise the resources available for our charitable work. The investment portfolio is held for the long term. Cazenove Capital Management has managed the investment portfolio for the year. They seek to maintain and, if possible, enhance the real value of funds in line with our business plan. An appropriate balance is met to maximise return on investment by operating within agreed investment areas and adopting a balanced approach to risk. Investments are made across a diverse portfolio with risk spread across diferent asset classes and styles of investment management.
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**Mind** Trustees’ annual report 2023/24
## **Funds position and reserves policy**
We have unrestricted general, pension, designated and restricted reserves.
Trustees have reviewed the general reserves taking into account the following:
- The diversity of the sources of income
- Commitments to unrestricted expenditure in line with our corporate strategy and working capital requirements
- Current cost structure
- Our asset base, including long leasehold properties
- Key risks in our corporate risk register, their potential impact on reserves, and the timeframe in which mitigating actions could be put into action and the impact they would have
- Increased level of uncertainty in charity fundraising.
Trustees discussed reserves at their latest meeting and set the long-term reserves target as £10.1m. The reserves expectation for general reserves and target for the end of 2024/25 was identifed as £10.1m. This will help the charity to withstand a number of scenarios including:
## **Going concern**
The trustees have assessed the charity’s ability to continue as a going concern. The trustees have considered several factors when forming their conclusion as to whether the use of the going concern basis is appropriate when preparing these fnancial statements, including: a review of updated forecasts to 30 September 2025; a consideration of key risks that could impact the charity; and the latest available management information. The trustees consider that a number of factors have signifcantly changed the landscape in which Mind operates and generates income. Given the uncertainty around the economy, including the potential for a UK recession, Mind has prepared a number of downside scenarios to refect reduced fundraising and trading income capability and a minimised cost base. In all scenarios Mind has sufcient cash and reserves to continue to fund reduced operations. Trustees are confdent that the resource planning work undertaken for the new strategic period demonstrates that Mind has adequate plans to adapt to changing circumstances and as such consider that it is appropriate for the fnancial statements to be prepared using the going concern basis.
- A sustained increase in infation combined with a fall in income to provide the capability for trustees to then make sure expenditure could be reduced in a managed fashion, avoiding the need to halt important work abruptly
- Providing fnancial headroom for strategic delivery.
General reserves as at 31 March 2024 stood at £11.8m representing planned expenditure as outlined above. Designated funds consist of the fxed asset fund – this represents the net book value of fxed assets invested in infrastructure, including estate and furniture. The fund is to support the charity to carry out its operations efectively and efciently. As of 31 March 2024, the value of this fund was £5.1m. Further details can be found in note 14.
We have a pension reserve of £1.3m in respect of potential future liabilities.
Restricted funds are only available for expenditure as directed by the donor. Total restricted funds at the end of the year were £4m. This money is expected to be used over the next two to three fnancial years. See note 18 for more information.
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**Mind** Trustees’ annual report 2023/24
## **Statement of trustees’ responsibilities**
The trustees (who are also directors of Mind for the purposes of company law) are responsible for preparing the trustees’ report (including the strategic report) and the fnancial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).
Company law requires the trustees to prepare fnancial statements for each fnancial year. Under company law, the trustees must not approve the fnancial statements unless they are satisfed that they give a true and fair view of the state of afairs of the charitable company and the group, and of the company’s, and the group’s, surplus or defcit for that period. In preparing these fnancial statements, the trustees are required to:
- Select suitable accounting policies and then apply them consistently
- Observe the methods and principles in the Charities SORP (Statement of Recommended Practice, 2019)
- Make judgements and estimates that are reasonable and prudent
- State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the fnancial statements
- Prepare the fnancial statements on the going concern basis unless it is inappropriate to presume that the charity will continue to operate.
The trustees are responsible for keeping proper accounting records that are sufcient to show and explain the charity’s and the group’s transactions and disclose with reasonable accuracy, at any time, the fnancial position of the charity and the group, and that enable them to ensure that the fnancial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In the case of each trustee in ofce at the date this trustees’ annual report is approved:
- So far as the trustees are aware, there is no relevant audit information of which the charitable company’s auditor is unaware; and
- They have taken all the steps that they ought to have taken as trustees in order to make themselves aware of any relevant audit information and to establish that the charitable company’s auditors are aware of that information. The trustees are responsible for the maintenance and integrity of the charity and fnancial information on the charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of fnancial statements may difer from legislation in other jurisdictions.
## **Approval of report**
This report of the trustees, which includes the strategic report, was approved by the board of trustees in their capacity as trustees and company directors on 18 September 2024.
**Stevie Spring CBE** Chairman
**Anna Hughes** Honorary treasurer
58
**Mind Accounts to 31 March 2024**
## **Accounts**
**59**
**Mind** Accounts to 31 March 2024
## **Independent auditor’s report to the members of Mind (The National Association for Mental Health)**
## **Opinion**
We have audited the fnancial statements of Mind (The National Association for Mental Health) (‘the charitable company’) and its subsidiaries (‘the group’) for the year ended 31 March 2024 which comprise the consolidated statement of fnancial activities, the consolidated and charity balance sheets, the consolidated cash fow statement and notes to the fnancial statements, including signifcant accounting policies. The fnancial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102, the fnancial reporting standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
## **Conclusions relating to going concern**
In auditing the fnancial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the fnancial statements is appropriate.
Based on the work we have performed, we have not identifed any material uncertainties relating to events or conditions that, individually or collectively, may cast signifcant doubt on the charitable company's or the group’s ability to continue as a going concern for a period of at least twelve months from when the fnancial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
In our opinion the fnancial statements:
## **Other information**
- give a true and fair view of the state of the group’s and the charitable company’s afairs as at 31 March 2024 and of the group’s income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
The trustees are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the fnancial statements and our auditor’s report thereon. Our opinion on the fnancial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the fnancial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the fnancial statements in the UK, including the FRC’s Ethical Standard, and we have fulflled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufcient and appropriate to provide a basis for our opinion.
Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the fnancial statements, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the fnancial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
60
**Mind** Accounts to 31 March 2024
## **Opinions on other matters prescribed by the Companies Act 2006**
In our opinion based on the work undertaken in the course of our audit
- the information given in the trustees’ report, which includes the directors’ report and the strategic report prepared for the purposes of company law, for the fnancial year for which the fnancial statements are prepared is consistent with the fnancial statements; and
- the strategic report and the directors’ report included within the trustees’ report have been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In light of the knowledge and understanding of the group and charitable company and their environment obtained in the course of the audit, we have not identifed material misstatements in the strategic report or the directors’ report included within the trustees’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate and proper accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
- the fnancial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees' remuneration specifed by law are not made; or
- we have not received all the information and explanations we require for our audit
## **Responsibilities of trustees**
As explained more fully in the trustees’ responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the fnancial statements and for being satisfed that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of fnancial statements that are free from material misstatement, whether due to fraud or error.
In preparing the fnancial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
## **Auditor’s responsibilities for the audit of the fnancial statements**
Our objectives are to obtain reasonable assurance about whether the fnancial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to infuence the economic decisions of users taken on the basis of these fnancial statements.
Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and non-compliance with laws and regulations are set out below.
A further description of our responsibilities for the audit of the fnancial statements is located on the Financial Reporting Council’s website at: frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
61
**Mind** Accounts to 31 March 2024
## **Extent to which the audit was considered capable of detecting irregularities, including fraud**
Irregularities, including fraud, are instances of noncompliance with laws and regulations. We identifed and assessed the risks of material misstatement of the fnancial statements from irregularities, whether due to fraud or error, and discussed these between our audit team members. We then designed and performed audit procedures responsive to those risks, including obtaining audit evidence sufcient and appropriate to provide a basis for our opinion.
We obtained an understanding of the legal and regulatory frameworks within which the charitable company and group operates, focusing on those laws and regulations that have a direct efect on the determination of material amounts and disclosures in the fnancial statements. The laws and regulations we considered in this context were the Companies Act 2006, the Charities Act 2011 together with the Charities SORP (FRS 102). We assessed the required compliance with these laws and regulations as part of our audit procedures on the related fnancial statement items.
In addition, we considered provisions of other laws and regulations that do not have a direct efect on the fnancial statements but compliance with which might be fundamental to the charitable company’s and the group’s ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company and the group for fraud. The laws and regulations we considered in this context for the UK operations were fundraising regulations, employment legislation, General Data Protection Regulation (GDPR) and health and safety legislation.
Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the trustees and other management and inspection of regulatory and legal correspondence, if any.
We identifed the greatest risk of material impact on the fnancial statements from irregularities, including fraud, to be within the timing of recognition of grant, contract and legacy income, and the override of controls by management, in particular the appropriateness of journal entries, the assessment of provisions for dilapidations and the assumptions applied in respect of the defned beneft pension scheme. Our audit procedures to respond to these risks included enquiries of management and the fnance, risk and audit committee about their
own identifcation and assessment of the risks of irregularities, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, sample testing of grant, contract and legacy income, data analytics and sample testing of journal entries, benchmarking of assumptions applied in respect of the defned beneft pension scheme and reading minutes of meetings of those charged with governance.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the fnancial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed noncompliance with laws and regulations (irregularities) is from the events and transactions refected in the fnancial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.
## **Use of our report**
This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body for our audit work, for this report, or for the opinions we have formed.
Jayne Rowe Senior Statutory Auditor For and on behalf of
**Crowe U.K. LLP** Statutory Auditor London, UK
Date: 12 December 2024
62
**Mind** Accounts to 31 March 2024
## **Consolidated statement of fnancial activities**
## (including an income and expenditure account)
||**Note**|**Unrestricted**
**funds**
**£’000**|**Restricted**
**funds**
**£’000**|**Total**
**2024**
**£’000**|**Total**
**2023**
**£’000**|
|---|---|---|---|---|---|
|**Income**||||||
|Donations, legacies and events|2|30,753|5|**30,758**|**29,247**|
|**Income from other trading activities**||||||
|Shop income, rafe and other activities|3|25,407|-|**25,407**|**22,761**|
|**Total funds from trading activities**||25,407|-|**25,407**|**22,761**|
|**Investment income**|4|792|-|**792**|**495**|
|**Income from charitable activities**|5|||||
|We connect minds||1,903|147|**2,050**|**1,159**|
|We support minds||119|795|**914**|**2,656**|
|We change minds||55|732|**787**|**669**|
|Together, we are Mind||1,626|357|**1,983**|**2,169**|
|**Total income from charitable activities**|5|3,703|2,031|**5,734**|**6,653**|
|**Total income**||**60,655**|**2,036**|**62,691**|**59,156**|
63
**Mind** Accounts to 31 March 2024
## **Consolidated statement of fnancial activities (continued)**
||**Note**|**Unrestricted**
**funds**
**£’000**|**Restricted**
**funds**
**£’000**|**Total**
**2024**
**£’000**|**Total**
**2023**
**£’000**|
|---|---|---|---|---|---|
|**Expenditure**||||||
|**Expenditure on raising funds**||||||
|Donations, legacies and events|6|9,667|-|**9,667**|**9,328**|
|Shop costs, rafe and other activities|3|20,176|-|**20,176**|**16,874**|
|**Total cost of raising funds**||29,843|-|**29,843**|**26,202**|
|**Expenditure on charitable activities:**|7|||||
|We connect minds||6,399|778|**7,177**|**5,598**|
|We support minds||10,675|2,835|**13,510**|**13,154**|
|We change minds||5,859|644|**6,503**|**6,105**|
|Together, we are Mind||20,640|2,098|**22,738**|**21,480**|
|**Total expenditure on charitable activities**||43,573|6,355|49,928|46,337|
|Other costs||-|-||**-**|
|**Total expenditure**||73,416|6,355|79,771|72,539|
|Gain/(Loss) on investments|15|1,244|-|**1,244**|**(742)**|
|(Loss)/Proft on sale of property||(209)|-|**(209)**|**(111)**|
|**Net income**||(11,726)|(4,319)|(16,045)|(14,236)|
|**Other recognised gains and losses**||||||
|Actuarial gain on defned beneft pension scheme|23|(319)|-|(319)|36|
|**Net movement in funds**||(12,045)|(4,319)|**(16,364)**|**(14,200)**|
|Balances brought forward||30,187|8,350|**38,537**|**52,737**|
|**Balances carried forward**||**18,142**|**4,031**|**22,173**|**38,537**|
> ● All transactions are derived from continuing activities.
> ● All recognised gains and losses are included in the statement of fnancial activities.
64
**Mind** Accounts to 31 March 2024
## **Consolidated balance sheet**
|||**2024**|**2024**|**2023**|**2023**|
|---|---|---|---|---|---|
||**Note**|**£’000**|**£’000**|**£’000**|**£’000**|
|**Fixed assets**||||||
|Tangible assets|14||5,086||4,882|
|Investments|15||13,925||34,361|
|Total fxed assets|||19,011||39,243|
|**Current assets**||||||
|Literature stocks||236||172||
|Debtors|16|7,090||6,430||
|Bank and cash in hand||7,224||4,529||
|Total current assets||14,550||11,131||
|**Liabilities**||||||
|**Creditors: amounts falling due**||||||
|Within 1 year|17|(11,202)||(11,837)||
|**Net current assets**|||3,348||(706)|
|**Total assets less current liabilities**|||22,359||38,537|
|Provisions|23||(186)||-|
|**Net assets**|||**22,173**||**38,537**|
|||||||
|**Funds**||||||
|Restricted funds|18||4,031||8,350|
|Unrestricted funds:||||||
|General reserves||11,756||20,411||
|Designated fxed asset fund|19|5,086||4,882||
|Property fund||-||2,294||
|Pension reserve||1,300||1,300||
|Strategic development fund|19|-||1,300||
|Total unrestricted funds|||18,142||30,187|
|**Total charity funds**|||**22,173**||**38,537**|
The defcit as per the statement of fnancial activities is £16,045,000 (2023: £14,236,000) and the movement of funds is £16,364,000 (2023: £14,200,000).
**The fnancial statements of Mind (The National Association for Mental Health), company number 424348, were approved and authorised for issue by the board of trustees on 18 September 2024 and were signed below on its behalf by:**
**Stevie Spring CBE** Chairman
**Anna Hughes** Honorary treasurer
65
**Mind** Accounts to 31 March 2024
## **Balance sheet (charity only)**
|||**2024**|**2024**|**2023**|**2023**|
|---|---|---|---|---|---|
||**Note**|**£’000**|**£’000**|**£’000**|**£’000**|
|**Fixed assets**||||||
|Tangible assets|14||5,086||4,882|
|Investments|15||13,925||34,361|
|Total fxed assets|||19,011||39,243|
|**Current assets**||||||
|Literature stocks||55||23||
|Debtors|16|7,090||6,974||
|Bank and cash in hand||5,893||2,510||
|Total current assets||13,038||9,507||
|**Liabilities**||||||
|**Creditors: amounts falling due**||||||
|Within 1 year|17|(9,745)||(10,267)||
|**Net current assets**|||3,293||(760)|
|**Total assets less current liabilities**|||22,304||38,483|
|Provisions|23||(186)||-|
|**Net assets**|||**22,118**||**38,483**|
|||||||
|**Funds**||||||
|Restricted funds|||3,976||8,296|
|Unrestricted funds:||||||
|General reserves||11,756||20,411||
|Designated fxed asset fund|19|5,086||4,882||
|Property fund||-||2,294||
|Pension reserve||1,300||1,300||
|Strategic development fund|19|-||1,300||
|Total unrestricted funds|||18,142||30,187|
|**Total charity funds**|||**22,118**||**38,483**|
**The fnancial statements of Mind (The National Association for Mental Health), company number 424348, were approved and authorised for issue by the board of trustees on 18 September 2024 and were signed below on its behalf by:**
**Stevie Spring CBE** Chairman
**Anna Hughes** Honorary treasurer
66
**Mind** Accounts to 31 March 2024
## **Consolidated cashfow statement**
|||**2024**|**2024**|**2023**|**2023**|
|---|---|---|---|---|---|
||**Note**|**£’000**|**£’000**|**£’000**|**£’000**|
|**Cashfow from operating activities:**||||||
|Net cash (used by)/provided by operating
activities|A||(18,291)||(11,561)|
|**Cashfow from investing activities:**||||||
|Income from investments||338||359||
|Bank and loan interest received||454||136||
|Purchase of tangible fxed assets||(2,149)||(2,166)||
|Disposals of fxed assets||872||2,254||
|Purchase of investments||(2,765)||(8,438)||
|Sale of investments||24,445||9,127||
|(Loss)/Proft on the sale of tangible fxed
assets||(209)||(111)||
|**Net cash from/(used in) investing**
**activities**|||20,986||1,161|
|**Change in cash and cash equivalents in the**
**reporting period**|B||2,695||(10,400)|
|**Cash and cash equivalents at the**
**beginning of the reporting period**|||4,529||14,929|
|**Cash and cash equivalents at the end of**
**the reporting period**|||**7,224**||**4,529**|
67
**Mind** Accounts to 31 March 2024
## **Note A: Reconciliation of net movement in funds to net cashfow from operating activities**
|**Net cashfow from operating activities**|**2024**
**£’000**|**2023**
**£’000**|
|---|---|---|
|Net movement in funds for the operating period
(as per the statement of fnancial activities)|(16,364)|(14,200)|
|**Adjustment for:**|||
|Depreciation charge|1,710|1,643|
|Depreciation on disposal of property|(637)|(2,069)|
|Realised (gain)/loss on investments|(281)|522|
|Unrealised (gain) on defned beneft pension scheme|-|(36)|
|Unrealised (gain)/loss on investments|(963)|220|
|Realised loss on disposal of fxed assets|209|111|
|Realised loss on disposal of MMTA fxed assets|-|36|
|Interest receivable|(454)|(136)|
|Income from investments|(338)|(359)|
|(Increase)/Decrease in stock|(64)|(78)|
|(Increase)/Decrease in debtors|(660)|470|
|(Decrease)/Increase in creditors and provisions|(449)|2,315|
|**Net cash (used by)/provided by operating activities**|**(18,291)**|**(11,561)**|
## **Note B: Analysis of cash and cash equivalents**
||**As at 1 April 2023**
**£’000**|**Cashfow**
**£’000**|**As at 31 March 2024**
**£’000**|
|---|---|---|---|
|Cash at bank|4,520|2,695|7,215|
|Cash in hand|9|-|9|
||**4,529**|**2,695**|**7,224**|
68
**Mind** Accounts to 31 March 2024
## **Notes to the accounts**
## **1. Accounting policy**
## **Basis of accounting**
The charity is a company limited by guarantee (company number 424348) and a registered charity (charity number 219830), incorporated and registered in England and Wales. The address and registered ofce of the charity is 2 Redman Place, Stratford, London, E20 1JQ.
The fnancial statements have been prepared in accordance with the Charities SORP (FRS 102) applicable in the UK and Republic of Ireland, the Charities Act 2011 and UK Generally Accepted Accounting Practice as it applies from 1 January 2019.
The charity meets the defnition of a public beneft entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.
The charity has taken exemption from presenting its unconsolidated income and expenditure account under Section 408 of Companies Act 2006. The charity has also taken advantage of the exemptions in FRS 102 from the requirements to present a charityonly cash fow statement and certain disclosures about the charity’s fnancial instruments.
fund reduced operations. Trustees are confdent that a combination of the strong performance of the emergency appeal and the resource planning work undertaken for the new strategic period demonstrate that Mind has adequate plans to adapt to changing circumstances and as such consider that it is appropriate for the fnancial statements to be prepared using the going concern basis.
## **Group fnancial statements**
Group fnancial statements have been prepared in respect of Mind and its wholly owned subsidiary Minds Matter (Trading Activities) Limited (company number 1005048) as per note 13, together with connected trusts the Elliott Charity, a connected charity (charity number 219829) as per note 26 and the Mary Hemingway Rees Memorial Fund (see note 27). In accordance with Section 408 of the Companies Act 2006, no separate statement of fnancial activities is presented for Mind. The results are consolidated on a line-by-line basis. Please refer to note 13 for the results of the trading subsidiary.
## **Fund accounting**
Restricted funds are funds subject to specifc restricted conditions imposed by the donors.
The accounts have been prepared on a going concern basis under the historical cost convention with the exception of investments, which are included at market value. The trustees have assessed the charity’s ability to continue as a going concern. The trustees have considered several factors when forming their conclusion as to whether the use of the going concern basis is appropriate when preparing these fnancial statements including a review of updated forecasts to 30 September 2025, a consideration of key risks, including the impact of coronavirus, that could impact the charity and the latest available management information. The trustees consider that the external environment caused by the global coronavirus pandemic has signifcantly changed the landscape in which Mind operates and generates income and has had a signifcant impact on the charity’s operations. Given the uncertainty around the economy, and the signifcant recession the UK now faces, Mind has prepared a number of downside scenarios to refect reduced fundraising and trading income capability and a minimised cost base. In all scenarios Mind has sufcient cash and reserves to continue to
Unrestricted funds are accumulated, general funds, available for use at the discretion of the trustees in furtherance of the general charitable objectives.
Designated funds are amounts that have been put aside at the discretion of the board. At the year end, they comprised a fxed assets fund which represents the extent to which funds are invested in property for use by the charity, a strategic development fund for further development of frontline objectives, and an infrastructure development fund to meet any future refurbishment requirements.
## **Incoming resources**
Income is recognised when: (a) the charity has entitlement to the funds; (b) any performance conditions attached to the items of income have been met; (c) it is probable that the income will be received; and (d) the amount can be measured reliably.
Donations are accounted for as received. In the event that a donation is subject to fulflling performance
69
**Mind** Accounts to 31 March 2024
conditions before the charity is entitled to the funds, the income is deferred until either those conditions are met in full, or their fulflment is wholly within the control of the charity, and it is probable that those conditions will be fulflled by the end of the reporting period.
Mind recognises residuary legacy income at the earlier of the date of receipt or when the executors have determined that a payment can be made following the agreement of the estate’s accounts, or on notifcation by the executors that payment will be made. Pecuniary legacy income is recognised on notifcation. Life interest legacy income is recognised at the date of death of the life interest provided the receipt and value criteria are met.
Income from shop sales, rafe and other activities is recognised as earned.
Income from investments is recognised on a receivable basis.
Income from charitable activities includes income received under contract or sale, or where entitlement to grant funding for specifc projects undertaken by the charity is recognised as earned (as the related goods and services are provided). Income from sales of publication and courses is recognised as earned.
Income from events is only recognised in the year and period the event takes place in. Until such time that the event takes place such income is deferred to future periods.
Some income from charitable activities including grants income is apportioned between two or more categories of charitable activities on a basis consistent with the use of resources.
Other incoming resources comprises one-of and irregular income recognised using the same criteria for voluntary income.
## **Volunteers and donated services**
The value of services provided by the volunteers is not incorporated in these fnancial statements. Mind (group) had 3,126 (2023: 2,245) volunteers in the year of which Minds Matter had 3,126 (2023: 2,245) volunteers in the year. They have played a big role in the delivery of Mind’s services and in achieving our objectives.
## **Resources expended**
Expenditure is recognised when a liability is incurred. Funding provided through contractual agreements
and as agent is recognised when a constructive obligation arises that results in payments being unavoidable.
Expenditure on events is also recognised in the year in which the events takes place so as to match the income.
Expenditure on raising funds are those costs incurred in attracting voluntary income. Costs of fundraising trading are those incurred in trading activities that raise funds. These are costs incurred mainly in relation to income from generated funds i.e. donations and legacies. However, a small portion of costs incurred on income from generated funds is also allocated to costs of charitable activities for providing information in an educational manner to raise awareness of mental health issues in furtherance of the charity's objectives. The apportionment is based on an assessment of particular activities.
Some expenditure for charitable activities is apportioned between two or more categories on a basis consistent with the use of resources.
Support costs are costs of services supplied centrally, which have been allocated to activity cost categories on a basis consistent with the use of resources. For example, human resources costs have been allocated by the number of staf whereas ofce property costs have been apportioned by usage of the foor space. Costs that used to be classifed as governance costs – which include those incurred in the governance of the charity, its assets and those costs associated with constitutional and statutory requirements – are now part of the support costs.
## **Taxation**
Irrecoverable VAT is allocated to the same cost heading as the related expenditure.
Tax recovered for voluntary income under Gif Aid is allocated to the same income heading as the related income.
Mind has charitable status and is thus exempt from taxation of its income and gains falling within Section 478 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that they are applied to its charitable objectives. No material tax charges have arisen in its subsidiaries and no provision is required for deferred taxation.
70
**Mind** Accounts to 31 March 2024
## **Stocks**
Stocks are valued at the lower of cost and net realisable value. Stocks of donated goods held in the Minds Matter charity shops are not valued until they are sold.
## **Rental payments**
Rental payments under operating leases are charged against income on a straight-line basis over the term of the lease.
## **Depreciation**
All tangible fxed assets, including freehold properties, are stated in the balance sheet at cost, less depreciation. The depreciation of assets is provided in equal annual instalments over the estimated useful lives of the assets at the following rates:
Freehold property ..................................................................2% Long leasehold property......................................................2% Short leasehold property.........Over the term of the lease Ofce furniture and equipment ..........................10 to 20% Computer equipment ........................................................20% Motor vehicles......................................................................33%
Individual items of capital expenditure in excess of £2,000 are accounted for as fxed asset additions. In some circumstances the policy can be overruled and where this is the case the decision is documented and the justifcation recorded.
Individual items of capital expenditure of £200 or more are accounted for as fxed assets for the trading subsidiary Minds Matter (Trading Activities) Ltd.
## **Investments**
Investments are shown at market value. Unrealised gains and losses represent the movement in the market value in the fnancial year. Realised gains and losses are calculated as the diference between sale proceeds and the market value at the beginning of the fnancial year. Unrealised and realised gains and losses are included together in the statement of fnancial activities.
## **Pensions**
Employees of the charity are entitled to join the group personal pension scheme and employees of the subsidiary Minds Matter (Trading Activities) Ltd are entitled to join one of their defned contribution pension schemes. Employer contributions are charged to expenditure in the accounting period in which they are payable.
Mind operated a defned beneft scheme, which was closed for future accrual on 31 July 2002. The assets and liabilities in the scheme are reported in these fnancial statements as required by FRS102. Please see the pension note (note 23) for more detail.
## **Critical accounting judgements and key sources of estimation uncertainty (policy)**
In the application of the charity’s accounting policies, which are described in note 1 above, trustees are required to make judgements, estimates, assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may difer from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision afects only that period, or in the period of the revision and future periods if the revision afects the current and future periods.
The estimates and assumptions, which have a signifcant risk of causing a material adjustment to the carrying amount of assets and liabilities, are set out below:
- Pension liabilities – the charity recognises its liability to its defned beneft pension scheme, which involves a number of estimations disclosed in note 23.
## **Financial instruments (policy and note)**
Mind has fnancial assets and fnancial liabilities of a kind that qualify as basic fnancial instruments. Basic fnancial instruments are initially recognised at transaction value and subsequently measured at amortised cost using the efective interest method. Financial assets held at amortised cost comprise cash and bank and in hand, together with trade and other debtors. Financial liabilities held at amortised cost comprise bank loans and overdrafs, trade and other creditors.
Investments held as part of an investment portfolio are held at fair value at the balance sheet date, with gains and losses being recognised within income and expenditure.
71
**Mind** Accounts to 31 March 2024
## **2. Voluntary income**
||**Unrestricted**
**£’000**|**Restricted**
**£’000**|**Total**
**2024**
**£’000**|**Total**
**2023**
**£’000**|
|---|---|---|---|---|
|Donations|13,544|-|13,544|12,766|
|Challenge events|13,307|-|13,307|10,879|
|Legacies|3,902|5|3,907|5,602|
|**Total**|**30,753**|**5**|**30,758**|**29,247**|
The amount of legacy income notifed but not recognised as income in the year, according to the legacy pipeline, is estimated at £6.7m (2023: £5.2m). The charity is hopeful that much of this income will be able to be recognised in future years.
## **3. Mind charity shop results**
Total group results from the charity shops included in these fnancial statements are shown below, some of which is reported in Minds Matter (Trading Activities) Limited accounts and some in Mind’s charity only accounts.
||**2024**
**£’000**|**2023**
**£’000**|
|---|---|---|
|Shop income|25,482|22,750|
|Trading and other income including, and rent received|130|232|
|Costs of selling goods|(19,810)|(16,514)|
||**5,802**|**6,468**|
## **4. Investment income**
||**Unrestricted**
**£’000**|**Restricted**
**£’000**|**Total**
**2024**
**£’000**|**Total**
**2023**
**£’000**|
|---|---|---|---|---|
|Interest received|454|-|454|136|
|Dividends|338|-|338|359|
|**Total**|**792**|**-**|**792**|**495**|
## **5. Incoming resources from charitable activities**
||**Unrestricted**
**£’000**|**Restricted**
**£’000**|**Total**
**2024**
**£’000**|**Total**
**2023**
**£’000**|
|---|---|---|---|---|
|Government grants|-|441|441|1,034|
|Trusts, foundations and other grants|110|1,573|1,683|3,279|
|Fees|257|-|257|359|
|Conferences and training|1,414|-|1,414|1,167|
|Other|1,922|17|1,939|814|
|**Total**|**3,703**|**2,031**|**5,734**|**6,653**|
72
**Mind** Accounts to 31 March 2024
## **5. Incoming resources from charitable activities (continued)**
|**Restricted incoming resources by funder**|**2024**
**£’000**|**2023**
**£’000**|
|---|---|---|
|**Welsh government**|||
|Time to Change Wales (Adult)|424|480|
|Side by Side Cymru: Peer Support in your Community|-|40|
|Mental Health Crisis Care Wales|17|13|
|Active Monitoring|187|550|
||628|1,083|
|**Sport England**|||
|System Partner Year 2|380|377|
||380|377|
|**The Royal Foundation of the Prince and Princess of Wales**|||
|Mental Health at Work Programme|8|2|
|Blue Light Together Website|-|18|
||8|20|
|Simply Business|||
|Mental Health at Work|-|97|
||-|97|
|Co-op|||
|Co-op Project|382|574|
||382|574|
|Midlands Engine|||
|Midlands Engine|243|386|
||243|386|
|Other|||
|Children and Young People Project|15|2|
|Wellbeing Advisers|100|114|
|Children and Young People (Organisational change)|-|41|
|Information|134|255|
|Money & Me|-|431|
|Clear Space (Schools and Colleges Early Support Service)|10|328|
|Peer Support|1|17|
|Other|130|485|
||390|1,673|
|Total|**2,031**|**4,210**|
73
**Mind** Accounts to 31 March 2024
## **6. Expenditure on raising funds for voluntary income**
||**Unrestricted**
**total**
**£’000**|**Restricted**
**total**
**£’000**|**Total**
**2024**
**£’000**|**Total**
**2023**
**£’000**|
|---|---|---|---|---|
|Donations|6,036|-|6,036|5,742|
|Challenge events|1,688|-|1,688|1,671|
|Legacies|459|-|459|334|
|Support costs allocated|1,484|-|1,484|1,581|
|**Total**|**9,667**|**-**|**9,667**|**9,328**|
## **7. Resources expended on charitable activities**
||**Activities**
**undertaken**
**directly**
**£’000**|**Grant**
**funding of**
**activities**
**£’000**|**Support**
**costs**
**£’000**|**Total**
**2024**
**£’000**|**Total**
**2023**
**£’000**|
|---|---|---|---|---|---|
|We connect minds|5,600|236|1,341|7,177|5,598|
|We support minds|8,106|3,062|2,342|13,510|13,154|
|We change minds|4,373|341|1,789|6,503|6,105|
|Together, we are Mind|16,694|1,140|4,904|22,738|21,480|
||**34,773**|**4,779**|**10,376**|**49,928**|**46,337**|
## **8. Support costs**
||**Governance**
**costs**|**Management**
**staf**|**Finance,**
**IT and**
**ofce**
**services**
**staf**|**Property**
**costs**
**area**|**Human**
**resources**
**staf**|**Total**
**costs**
**2024**|**Total**
**costs**
**2023**|
|---|---|---|---|---|---|---|---|
||**£’000**|**£’000**|**£’000**|**£’000**|**£’000**|**£’000**|**£’000**|
|We connect minds|32|47|795|186|281|1,341|1,031|
|We support minds|56|82|1,388|325|491|2,342|2,027|
|We change minds|43|62|1,059|249|376|1,789|1,581|
|Together, we are Mind|117|171|2,906|681|1,029|4,904|4,677|
||**248**|**362**|**6,148**|**1,441**|**2,177**|**10,376**|**9,316**|
|**Income generation**||||||||
|Voluntary income|35|52|877|206|312|1,482|1,581|
|Rafe and other activities|9|13|216|52|77|367|358|
||**292**|**427**|**7,241**|**1,699**|**2,566**|**12,225**|**11,255**|
74
**Mind** Accounts to 31 March 2024
## **9. Staf costs**
||**Group**|**Group**|
|---|---|---|
||**2024**
**£’000**|**2023**
**£’000**|
|Wages and salaries|33,118|28,189|
|Social security costs|3,227|2,829|
|Other pension contributions|3,273|2,848|
||**39,618**|**33,866**|
|Other pension contributions are made up as follows:|||
|Mind defned beneft scheme related costs|85|62|
|Mind defned contribution scheme|2,942|2,567|
|Minds matter defned contribution schemes|245|219|
||**3,272**|**2,848**|
See note 23 for more information on the pension schemes.
||**2024**
**£’000**|**2023**
**£’000**|
|---|---|---|
|The average number of full-time equivalent employees during the year was:|||
|Shops|373|338|
|We connect minds|56|38|
|We support minds|99|75|
|We change minds|76|59|
|Together, we are Mind|207|173|
|Income generation and governance|144|154|
||**955**|**837**|
The average number of employees during the year was 1,094 (2023: 1,010).
75
**Mind** Accounts to 31 March 2024
## **9. Staf costs (continued)**
## **Higher-paid employees**
Sarah Hughes, our chief executive, received emoluments of £140,000.
Mind is committed to openness and transparency on senior pay and will continue to keep this under review.
The number of employees whose emoluments for the year fell within the following bands were:
||**2024**
**number**|**2023**
**number**|
|---|---|---|
|£60,000 to £69,999|26|13|
|£70,000 to £79,999|11|10|
|£80,000 to £89,999|6|4|
|£90,000 to £99,999|4|2|
|£100,000 to £109,999|4|4|
|£110,000 to £119,999|2|1|
|£120,000 to £129,999|-|-|
|£130,000 to £139,999|1|-|
|£140,000 to £149,999|1|-|
||55|34|
Emoluments include salary and taxable benefts but do not include employer's pension contributions or employer’s national insurance. The highest paid employee was the chief executive.
||**2024**
**£'000**|**2023**
**£'000**|
|---|---|---|
|Total employer contribution paid to the pension scheme for the above higher-
paid employees|314|214|
## **Key management personnel**
The key management personnel are the members of the executive team, these being the following positions within the organisation, for which the remuneration and likely short-term benefts payable for the year are:
|**Designation**|**Salary**
**£’000**|**Benefts**
**£’000**|**Employer**
**NIC**
**£’000**|**Employer**
**pension**
**£’000**|**Total**
**2024**
**£’000**|**Total**
**2023**
**£’000**|
|---|---|---|---|---|---|---|
|Chief executive|140|-|17|10|167|36|
|Deputy chief executive|115|-|13|13|141|134|
|Executive director of networks and communities*|140|-|13|10|163|122|
|Executive director of external relations|3||-|-|3|136|
|Executive director of social change|96|-|11|7|114|96|
|Executive director of social impact and Mind
Cymru|97|-|10|9|116|101|
|Executive director of fnance and infrastructure|102|-|12|11|125|117|
|Executive director of fundraising income|109|-|13|12|134|126|
|Executive director of Mind Retail (MMTA)|115|-|15|9|139|132|
|**Total**|**917**|**-**|**104**|**81**|**1,102**|**1000**|
*This fgure includes redundancy payments made during the year.
76
**Mind** Accounts to 31 March 2024
## **10. Redundancy and termination payments**
Mind underwent a transformational restructuring during the year, changing internal directorates with signifcant stafng changes, resulting in redundancy and termination payments of £1,580,449 in the year (2023: £154,828). Of the total amount for redundancy and termination payments for the year, £663,545 (2023: £NIL) was paid in 2024–25.
## **11. Related party disclosures**
||**2024**
**£’000**|**2023**
**£’000**|
|---|---|---|
|Total expenses relating to travel and subsistence|10|11|
||||
|Number of trustees reimbursed|6|6|
||||
|Number of trustees in ofce at some time during the year|**14**|**16**|
## **Trustee remuneration**
No remuneration has been paid to trustees in the year.
## **Related party transactions**
Mind has a wholly owned subsidiary, Minds Matter (Trading Activities) Limited (MMTA, sometimes referred to as Mind Retail), as detailed in note 13. During the year, expenses amounting to £5,389 (2023: £50,190) were charged to MMTA in relation to rent and accountancy charges.
At the year end, £3,139,841 (2023: £2,318,861) was due to Mind from MMTA. During the year, Mind received income on behalf of MMTA amounting to £131,457 (2023: £199,693) and incurred expenditure amounting to £418,937 (2023: £293,782) on behalf of the organisation.
MMTA did not receive any income (2023: £21,786) on behalf of Mind during the year. MMTA also transferred fxed assets worth £1,619,564 (2023: £1,492,729) to Mind.
**Stevie Spring** is the chairman of Mind. During the year, transactions worth £18,238 were incurred with Co-op Legal Services (part of the Co-operative Group Limited), which is our supplier. Also £342,000 was received through Mind's partnership with the Cooperative Group Limited. Stevie is a non-executive director and chairman of the remuneration committee for Co-operative Group Limited. £5,220 was raised and received from Pladis Global, our customer, at which Stevie is an advisory board member.
**Kathleen Miles** is part of the executive team at Mind. During the year, expenditure transactions worth £33,427 were incurred with the Institute of Fundraising, £19,595 of this remains unpaid at the year end. Kathleen is a full member of the Institute of Fundraising (MInstF).
**Alyson Scott** is a trustee at Mind. During the year, income transactions worth £1,375 have been generated and received from York Mind. Expenditure transactions worth £52,239 were incurred with York Mind, of which £18,000 relates to 2022–23 paid in 2023–24. Alyson is chief executive of York Mind.
**Shubulade Smith** is a trustee at Mind. During the year, sales transactions worth £5,936 were generated but not yet received from the Royal College of Psychiatrists, which is our customer. £66,100 of expenditure transactions were incurred with the Royal College of Psychiatrists, of which £40,800 remains unpaid. Shubulade is the President of the Royal College of Psychiatrists.
**Joanne Theodoulou** is a trustee at Mind. During the year, income of £63,354 was received from Xbridge Limited. Joanne is general counsel and company secretary at Xbridge Limited t/a Simply Business.
77
**Mind** Accounts to 31 March 2024
## **12. Net movement in funds**
||**2024**
**£’000**|**2023**
**£’000**|
|---|---|---|
|**Net movement in funds is stated afer charging:**|||
|Depreciation|1,710|1,642|
|**Auditor’s remuneration**|||
|External audit|48|46|
|Tax services (payroll and corporation tax)|60|51|
|Internal audit|-|3|
|Operating lease: land and buildings|5,033|3,354|
|Operating lease: equipment and motor vehicles|110|116|
## **13. Results from trading subsidiary, Minds Matter (Trading Activities) Ltd.**
||**2024**
**£’000**|**2023**
**£’000**|
|---|---|---|
|Turnover|18,676|15,594|
|Cost of sales|(961)|(548)|
|**Gross proft**|17,715|15,046|
|Other operating income|2,376|2,105|
|Administrative expenses|(17,922)|(15,117)|
|Operating proft and proft on ordinary activities before taxation|2,169|2,034|
|Tax on proft on ordinary activities|-|-|
|Proft for the fnancial year|2,169|2,034|
|Payable to Mind (under Gif Aid)|(2,169)|(2,034)|
|Taxation|-|-|
|Retained earnings carried forward|-|-|
||**2024**
**£**|**2023**
**£**|
|---|---|---|
|Total assets|4,597,883|3,889,750|
|Total liabilities|(4,597,878)|(3,889,745)|
|Net assets|5|5|
||||
|Shareholder’s funds|5|5|
78
**Mind** Accounts to 31 March 2024
## **14. Tangible fxed assets**
|**Group and charity**|**Freehold**
**properties**
**£’000**|**Long**
**leasehold**
**properties**
**£’000**|**Short-term**
**leasehold**
**properties**
**£’000**|**Furniture,**
**equipment**
**and vehicles**
**£’000**|**Total**
**£’000**|
|---|---|---|---|---|---|
|**Cost**||||||
|At 1 April 2023|219|-|763|12,644|13,626|
|Additions at cost|-|-|194|1,955|2,149|
|Disposals|-|-|(6)|(866)|(872)|
|**At 31 March 2024**|**219**|**-**|**951**|**13,733**|**14,903**|
|||||||
|**Depreciation**||||||
|At 1 April 2023|(87)|-|(544)|(8,113)|(8,744)|
|Charge for year|-||(107)|(1,603)|(1,710)|
|Disposals|-||4|633|637|
|**At 31 March 2024**|**(87)**|**-**|**(647)**|**(9,083)**|**(9,817)**|
|||||||
|At 31 March 2024|**132**||**304**|**4,650**|**5,086**|
|At 31 March 2023|**132**|**-**|**219**|**4,531**|**4,882**|
## **15. Investments**
||**2024**
**£’000**|**2023**
**£’000**|
|---|---|---|
|**a) Movements during the year:**|||
|Market value brought forward|25,912|21,672|
|Disposals of investments|(16,334)|(3,456)|
|Additions to investment at cost|2,765|8,438|
||12,343|26,654|
|Net unrealised gain / (loss) on revaluation|1,244|(742)|
|**Market value carried forward**|**13,587**|**25,912**|
|Cash|338|8,449|
|**Total**|**13,925**|**34,361**|
||||
|**b) Investment assets:**|||
|UK bonds|2,096|3,154|
|UK equities|449|1,341|
|Other|2,262|4,669|
|Total UK|4,807|9,164|
|Overseas equities and bonds|8,780|16,748|
|Total UK and overseas equities and bonds|13,587|25,912|
|Cash|338|8,449|
|**Total**|**13,925**|**34,361**|
79
**Mind** Accounts to 31 March 2024
## **16. Debtors**
||**Group**|**Group**|**Mind**|**Mind**|
|---|---|---|---|---|
||**2024**
**£’000**|**2023**
**£’000**|**2024**
**£’000**|**2023**
**£’000**|
|Amount due from subsidiary undertaking|-|-|3,139|2,319|
|Trade debtors|224|418|224|418|
|Other debtors|780|733|773|698|
|Prepayments|2,510|2,596|1,408|1,744|
|Accrued income|3,576|2,683|1,546|1,795|
||**7,090**|**6,430**|**7,090**|**6,974**|
## **17. Creditors: amounts falling due within 1 year**
||**Group**|**Group**|**Mind**|**Mind**|
|---|---|---|---|---|
||**2024**
**£’000**|**2023**
**£’000**|**2024**
**£’000**|**2023**
**£’000**|
|Trade creditors|1,222|1,530|727|1,076|
|Other creditors|353|290|215|205|
|Income tax and social security|1,222|1,287|1,064|1,100|
|Grants payable|547|1,845|547|1,845|
|Accruals|5,346|4,463|4,680|3,710|
|Deferred income|2,512|2,422|2,512|2,331|
||**11,202**|**11,837**|**9,745**|**10,267**|
||||||
||**Group**
**2024**
**£’000**|**Mind**
**2024**
**£’000**|||
|Deferred income brought forward|2,422|2,331|||
|Release of prior year’s deferred income|(2,422)|(2,331)|||
|Deferred income added in the year|2,512|2,512|||
|**Deferred income carried forward**|**2,512**|**2,512**|||
80
**Mind** Accounts to 31 March 2024
## **18. Restricted funds by activity 2023–24**
||**Balance at**
**1 April 2023**
**£’000**|**Incoming**
**resources/**
**transfers**
**£’000**|**Resources**
**expended**
**£’000**|**Balance at**
**31 March**
**2024**
**£’000**|
|---|---|---|---|---|
|Time to Change Wales (adult)|2|424|(424)|2|
|Mental Health Crisis Care Wales|-|17|(17)|-|
|Supported Self Help|-|187|(57)|130|
|Children and Young People Projects|465|65|(400)|130|
|System Partner 2|28|380|(359)|49|
|REBOOT UK|61|-|-|61|
|Mental Health at Work|75|-|(75)|-|
|Midlands Engine|135|243|(378)|-|
|Blue Light Together|91|-|(91)|-|
|Partnerships – ICAP Infoline Text Service|434|(137)|-|297|
|Co-op Project|1,629|382|(1,726)|285|
|Investing in Mental Health and Side by Side Online|25|-|(25)|-|
|National Emergencies Trust|11|-|(11)|-|
|Pandemic Recovery Programme|1,209|-|(1,179)|30|
|Young People and Racial Trauma Project|-|60|(60)|-|
|Infoline|18|220|(188)|50|
|Money & Me|372|(88)|(284)|-|
|Local Mind Grant Fund|-|120|(120)|-|
|Other|3,740|163|(961)|2,942|
|**Total**|**8,295**|**2,036**|**(6,355)**|**3,976**|
|The Elliott Charity|40|-|-|40|
|Mary Hemingway Rees Memorial Fund|15|-|-|15|
|**Group restricted funds**|**8,350**|**2,036**|**(6,355)**|**4,031**|
81
**Mind** Accounts to 31 March 2024
## **18. Restricted funds by activity 2022–23**
||**Balance at**
**1 April 2022**
**£’000**|**Incoming**
**resources**
**£’000**|**Resources**
**expended**
**£’000**|**Balance at**
**31 March**
**2023**
**£’000**|
|---|---|---|---|---|
|Time to Change Wales (adult)|6|480|(484)|2|
|Side by Side Cymru: Peer Support in your
Community|-|40|(40)|-|
|Mental Health Crisis Care Wales|-|13|(13)|-|
|Supported Self Help|-|550|(550)|-|
|Children and Young People Projects|1,210|548|(1,293)|465|
|Coronavirus Mental Health Response Fund Wales|1|-|(1)|-|
|Get Set to Go Development Year|38|377|(387)|28|
|REBOOT UK|61|-|-|61|
|Mental Health at Work|557|99|(306)|350|
|Midlands Engine|-|386|(251)|135|
|Blue Light Together|282|18|(209)|91|
|Partnerships – ICAP Infoline Text Service|436|-|(2)|434|
|Co-op Project|2,496|574|(1,441)|1,629|
|Investing in Mental Health and Side by Side Online|315|(99)|(191)|25|
|National Emergencies Trust|11|-|-|11|
|Pandemic Recovery Programme|2,295|-|(1,086)|1,209|
|Young People and Racial Trauma Project|144|-|(144)|-|
|Infoline|388|169|(539)|18|
|Refect Product|11|-|(10)|1|
|Money & Me|-|431|(59)|372|
|Other|3,321|745|(602)|3,464|
|**Total**|**11,572**|**4,331**|**(7,608)**|**8,295**|
|The Elliott Charity|40|-|-|40|
|Mary Hemingway Rees Memorial Fund|15|-|-|15|
|**Group restricted funds**|**11,627**|**4,331**|**(7,608)**|**8,350**|
82
**Mind** Accounts to 31 March 2024
## **18. Restricted funds by activity (continued)**
The Co-op ‘Resilience in the community’ project is a 4-year partnership with Co-op (October 2019 – October 2023) alongside our partners the Scottish Association for Mental Health (SAMH) and Inspire. The partnership aims to empower people experiencing, or at risk of, mental health problems to develop the skills needed to efectively support both their own and others’ mental health and wellbeing. We are achieving this through new research, community-based resilience services, a national advocacy and infuencing programme, as well as partnering with Co-op on Time to Talk Day – the nation’s largest mental health conversation. We have also inspired and engaged Co-op employees and networks to raise £8.45m for the partnership alongside supporting awareness of their own mental health.
The **Pandemic Recovery Programme** is a 3-year partnership funded by the Covid-19 Support Fund, supported by members of the Association of British Insurers (ABI). The programme is supporting Mind to meet the rising demand for our national mental health services, in addition to providing a long-term response to the impact of Covid-19. The grant is supporting the expansion of Mind’s most reliedupon national services, including our Infoline and online peer support platform, Side by Side, as well as contributing to a new local Mind grant fund which is funding a diverse range of regional services supporting groups disproportionately impacted by Covid-19. The programme is also supporting the development of programmes in line with our strategy, providing mental health support where it is most urgently needed.
Mental Health and Productivity Pilot is a programme funded by the Department for Work and Pensions, Department of Health and Social Care, and Midlands Engine since 2019. Led by Coventry University, with main partners University of Warwick, West Midlands Combined Authority and Mind along with fve other Midlands universities, we support Midlands-based organisations and their employees to improve workplace mental health and reduce the impact it has on sickness absence, presenteeism and productivity – helping people to thrive. This includes leading the service delivery of a new workplace mental health pilot called MENTOR with University of Birmingham and local Minds in the Midlands (currently Burton and District Mind), and supporting organisations to sign up to the Mental Health at Work Commitment.
**Side by Side** (sidebyside.mind.org.uk) is our online peer support community, open to anyone with a mental health problem.
Mind’s **Information services** provide high-quality, person-centred information that empowers people to make informed choices, to understand and access their rights, and to live with and recover from mental health problems. We believe well-targeted, supportive and reliable information has the power to change lives. It is vital to everyone experiencing or working with mental health issues.
Our Mind **Infoline** is a specialist helpline information service for people with direct or indirect experience of mental health problems, health professionals and other organisations. Enquiries can be made by call, email, webchat or post, and are received on a wide range of issues; from specifc diagnoses, treatments such as talking therapies or medication, benefts, and employment. People contact us about their own issues or because they’re concerned about someone else, and the service signposts people to local sources of help or support.
**Supported self-help** is an early intervention service for adults aimed at supporting people with low to moderate mental health needs. Individuals can refer themselves into the service or be referred into the service by a GP or their local Mind.
The service aims to increase timely mental health support for people who do not meet the thresholds for NHS talking therapies, for anxiety and depression services or other talking therapies, or who would otherwise be allocated to a waiting list under the ‘watchful waiting’ period. By ofering people access to support at an early stage, supported self-help can help prevent people’s mental health problems from escalating, improve their outcomes, and help to reduce longer term health service costs by limiting the need for more intensive interventions.
Time to Change Wales is a national campaign to challenge the stigma and discrimination associated with mental health problems. It has been run since 2012 by Mind Cymru and Adferiad Recovery (Hafal), and between 2021 and 2023 we partnered with EYST (Ethnic Minorities & Youth Support Team). With EYST, we carried out scoping study of the experience of stigma in Black, Asian and minority ethnic communities, and co-produced bespoke materials for diferent audiences, including Black, Asian and minority ethnic communities. This work is funded by the Welsh government.
83
**Mind** Accounts to 31 March 2024
## **18. Restricted funds by activity (continued)**
System Partner Year 2 furthers our sport and physical activity programme as part of our 5-year partnership with Sport England to co-deliver the Uniting the Movement Strategy and level up access to sport and physical activity across the country. Through the partnership we:
- Work collaboratively with partners to support the mental health of people experiencing inequalities, with a focus on our strategic priority groups.
- Fight for the mental health of everyone involved in the sport and physical activity ecosystem to ensure people’s lived experiences and evidence shape services and support.
- Advocate to national and local policy makers the role of physical activity as an engagement tool in the mental health ecosystem to promote our vision.
Our joint ambitions are to both embed mental health support across sport and physical activity ecosystems, and to embed physical activity across mental health ecosystems as an important mechanism for delivering mental health outcomes.
with mental health problems will be better connected to each other, to their communities, and to vital avenues of support.
Awarded via a competitive application process, the Local Mind Grant Fund is an opportunity for local Minds to secure funding to deliver innovative projects and new ways of working, developing an idea or applying an existing idea to a new context (demonstrating awareness of what has gone before and building on it). All local Minds in England and Wales are welcome to apply. All projects are expected to be exemplars of good practice and deliver activities that contribute to our core strategic goals.
Mind has launched an exciting new programme, Wellbeing Advisers, which has been designed with and for young people. Our wellbeing advisers are trained to work with young people. They can fnd help if they are down or anxious – and make a plan with them. This could be things like counselling, community groups, or health services. Then they’ll catch up to see how things are going. Anyone aged 11–24 can see an adviser.
Money and Me is a mental health and fnancial wellbeing intervention which operates in 4 locations across England and Wales facing high levels of poverty: Leeds, Lancashire, Middleborough, and Neath and Port Talbot. This programme is part-funded by PepsiCo Foundation and aims to strengthen participants’ economic wellbeing through facilitating access to information, tools, and income to help them support their fnancial wellbeing and mental health.
Clear Space was delivered in partnership with Anna Freud to support to young people, parents, and school staf in England and Wales. The programme provided 1:1 guided self-help sessions to young people from secondary schools and colleges with low to moderate level mental health and wellbeing problems. Clear Space supported young people of colour and socio-economically deprived communities and ofered fexible and responsive virtual support to those with mild to moderate mental health problems, including anxiety and depression. The service was free and accessible at the point of use. Mind’s participation in the partnership ended in December 2023 and Anna Freud continue to run the programme.
The Local Mind Grant Fund helps local Minds to innovate and design targeted, efective services which are tailored to their local areas and ensure those organisations can continue to provide support. People
84
**Mind** Accounts to 31 March 2024
## **19. Designated funds**
||**Balance at**
**1 April 2023**
**£’000**|**Income**
**2024**
**£’000**|**Expenditure**
**2024**
**£’000**|**Transfers**
**2024**
**£’000**|**Balance at**
**31 March 2024**
**£’000**|
|---|---|---|---|---|---|
|Fixed asset fund|4,882|-|(1,945)|2,149|5,086|
|Strategic development fund|1,300|-|(1,300)|-|-|
||**6,182**|**-**|**(3,245)**|**2,149**|**5,086**|
|||||||
|**Designated funds**|**Balance at**
**1 April 2022**
**£’000**|**Income**
**2023**
**£’000**|**Expenditure**
**2023**
**£’000**|**Transfers**
**2023**
**£’000**|**Balance at**
**31 March 2023**
**£’000**|
|Fixed asset fund|4,544|-|(1,827)|2,165|4,882|
|Strategic development fund|10,945|-|(9,645)|-|1,300|
||**15,489**|**-**|**(11,472)**|**2,165**|**6,182**|
The fxed asset fund is utilised over its economic life in accordance with our depreciation policy (see note 1). The purpose of the strategic development fund is to provide provision for funding future strategic development of Mind’s frontline charitable work. Planning is currently being undertaken for utilisation of this fund before the end of the current strategic period.
## **20. Analysis of group net assets**
||**Unrestricted**
**funds**
**£’000**|**Restricted**
**funds**
**£’000**|**Total**
**funds**
**£’000**|
|---|---|---|---|
|**Fund balances at 31 March 2024 are represented by:**||||
|Tangible fxed assets|5,086|-|5,086|
|Investments|13,925|-|13,925|
|Current assets|9,900|4,650|14,550|
|Current liabilities|(10,769)|(619)|(11,388)|
||**18,142**|**4,031**|**22,173**|
|||||
|**Fund balances at 31 March 2023 are represented by:**||||
|Tangible fxed assets|4,882|-|4,882|
|Investments|34,361|-|34,361|
|Current assets|1,795|9,336|11,131|
|Current liabilities|(10,851)|(986)|(11,837)|
||**30,187**|**8,350**|**38,537**|
85
**Mind** Accounts to 31 March 2024
## **21. Investment in subsidiary undertakings**
|**Name of subsidiary**|**Holding**|**Proportion of voting rights**|
|---|---|---|
|Minds Matter (Trading Activities) Ltd|5 ordinary shares of £1 each|100%|
|2 Redman Place
Stratford
London
E20 1JQ
Company registration number 01005048|||
## **22. Share capital**
The company is limited by guarantee and has no share capital. The liability of the members is limited to the sum of £1 per member.
## **23. Pension commitments**
Mind operates a group personal pension scheme, and contributions are charged to expenditure in the accounting period in which they are payable. Charges in the year were £2,942,355 (2023: £2,566,911).
The trading subsidiary, Minds Matter (Trading Activities) Ltd, operates two defned contributionbased pension schemes. Contributions are charged to expenditure in the accounting period in which they are payable. Charges in the year were £244,773 (2023: £219,375).
## **Defned beneft scheme**
Mind operated a defned beneft scheme in the UK which is paid up. There is a separate trustee administered fund holding the pension scheme assets to meet long term pension liabilities. A preliminary actuarial valuation was carried out at 30 September 2022 by a qualifed actuary, independent of the scheme's sponsoring employer. The major assumptions used by the actuary are shown below (as per FRS 102).
|**Net pension defcit at 31 March:**|**2024**
**£'000**|**2023**
**£'000**|
|---|---|---|
|Fair value of scheme assets|8,614|9,109|
|Present value of scheme liabilities|(8,800)|(8,800)|
|Efect of asset ceiling|-|(309)|
|Total|**(186)**|**-**|
||||
|**Asset**|**2024 Value**
**£’000**|**2023 Value**
**£’000**|
|Equities|45|-|
|Bonds|6,896|6,388|
|Property|945|1,146|
|Cash|314|109|
|Other|414|1,466|
|**Total fair value of scheme assets**|**8,614**|**9,109**|
86
**Mind** Accounts to 31 March 2024
## **23. Pension commitments (continued)**
|**Actuarial assumptions used**|**2024**
**% pa**|**2023**
**% pa**|
|---|---|---|
|Rate of increase of pensions|2.83|2.83|
|Discount rate|4.87|4.88|
|Retail price infation|3.17|3.22|
|CPI infation|2.90|2.90|
|Deferred pension revaluation|5.00|5.00|
The following amounts have been recognised in the fnancial statements under the requirements of FRS102:
|**Amount charged to functional cost categories**||**2024**
**£’000**|**2023**
**£’000**|
|---|---|---|---|
|Expenses||(85)|(94)|
|Interest cost||(420)|(310)|
|Expected return on assets||439|350|
|Interest on efect of asset ceiling||(19)|(40)|
|**Net amount charged to expenditure**||**(85)**|**(94)**|
|||||
|**Actuarial gains/(losses)**||**2024**
**£'000**|**2023**
**£'000**|
|Return on scheme assets||(657)|(3,643)|
|Experience gain on liabilities||(25)|(514)|
|Efects of changes in the demographic and fnancial
assumptions underlying the present value of the scheme liabilities||35|2,996|
|Efects of changes in the amount of surplus that is not
recoverable (excluding amounts included in net interest cost)||328|1,193|
|**Actuarial gain/(loss) charged to the statement of fnancial activities**||**(319)**|**32**|
|||||
|**Analysis of movement in defcit**||**2024**
**£'000**|**2023**
**£'000**|
|Defcit at the beginning of year||-|-|
|**Movement in year**||||
|Expenses||(85)|(94)|
|Contributions paid by charity||218|62|
|Actuarial loss||(319)|32|
|**Defcit at end of the year**||**(186)**|**-**|
87
**Mind** Accounts to 31 March 2024
## **23. Pension commitments (continued)**
|**History of experience gains and (losses)**|**2024**
**£'000**|**2023**
**£'000**|
|---|---|---|
|**Diference between expected and actual return on scheme assets:**|||
|Amount|(657)|(3,643)|
|% of scheme assets|(7.36)%|(39.99)%|
|**Experience gains/(losses) on scheme liabilities**|||
|Amount|(25)|(514)|
|% of scheme assets|(0.29)%|(5.64)%|
|**Total actuarial gain/(losses) recognised**|||
|Amount|(319)|32|
|% of scheme liabilities|3.63%|(0.36)%|
## **24. Operating lease commitments**
||**2024**|**2024**|**2023**|**2023**|
|---|---|---|---|---|
||**Group**
**£’000**|**Mind**
**£’000**|**Group**
**£’000**|**Mind**
**£’000**|
|**Land and buildings**|||||
|Total non-cancellable commitments under operating
leases expiring:|||||
|Within 1 year|3,148|3,148|2,561|2,561|
|In the second to ffh year|9,688|9,688|8,967|8,967|
|Afer 5 years|2,800|2,800|4,266|4,266|
||**15,636**|**15,636**|**15,793**|**15,793**|
|**Equipment and motor vehicles**|||||
|Total non-cancellable commitments under operating
leases expiring:|||||
|Within 1 year|125|6|103|12|
|In the second to ffh year|143|20|68|16|
|Afer 5 years|-|-|-|-|
||**268**|**26**|**171**|**28**|
88
**Mind** Accounts to 31 March 2024
## **25. Grants and other distributions to institutions**
## **Sum of total grants recognised in 23/24**
|**Grants**|**Local**
**Minds**
**£’000**|**Other**
**£’000**|**Total**
**2023–24**
**£’000**|**–**
**Total**
**2022 23**
**£’000**|
|---|---|---|---|---|
|ASICS Get Active Connector Fund|95|-|95|90|
|BAYO|-|150|150|250|
|Co-op Resilience Programme Extend Wave Two Medium
Grants 2021–22|103|-|103|-|
|Culturally Competent Talking Therapies|-|102|102|144|
|EFL Legacy Grants 2022|9|-|9|83|
|Equity and Lived Experience Development Fund 2024–25|46|-|46|30|
|Help Through Hardship Local (Extension)|28|-|28|600|
|LGBTIQA+ Small Grants|12|-|12|-|
|LMGF Services 2021 Uplif|94|-|94|-|
|MHPP – MENTOR 2.0 / Midlands Engine|10|-|10|10|
|Missing Middle Wales|121|-|121|-|
|Money & Me 2023/24 – Service Delivery|159|-|159|-|
|Money & Me 2023/24 – Service Design|20|-|20|-|
|Network Business Continuation Fund|675|-|675|548|
|Organisational Development Fund 2022|153|-|153|621|
|PeerFest Grant|-|11|11|-|
|Refugees and Asylum Seekers Mental Health Support Fund|19|-|19|282|
|Regional Network Hubs|-|14|14|42|
|Restricted Legacies|189|-|189|68|
|Schools and Colleges Early Support Service 2022|279|-|279|247|
|Sony Young People and Racial trauma|-|107|107|118|
|Supported Self Help London Consortium 23/25|961|-|961|471|
|Supported Self Help Wales Consortium 23/24|907|-|907|514|
|Time To Change Wales – Welsh government|-|78|78|111|
|Time to Talk Day Legacy Grant|45|27|72|-|
|Time To Talk Day Small Grants 2024|9|12|21|25|
|Wellbeing Advisers CYP 2022–23|224|-|224|170|
|Working Towards a Trauma Informed Vision (CYP) 2024–25|120|-|120||
|Active Monitoring Wales – Welsh government|-|-|-|439|
|Blue Light Support|-|-|-|4|
|Cost of Living Fund 22–23|-|-|-|734|
|Investing in Mental Health|-|-|-|14|
|Mind Football Programme 22–23|-|-|-|10|
|Peer Support Hubs – Welsh government|-|-|-|8|
|Side by Side Online|-|-|-|5|
|Ukraine crisis response fund|-|-|-|60|
|YBM steering group grants|-|-|-|55|
|Grants total|**4,278**|**501**|**4,779**|**5,753**|
89
**Mind** Accounts to 31 March 2024
## **25. Grants and other distributions to institutions (continued)**
The future funding commitments which have not been recognised as liabilities within the fnancial statements as at 31st March 2024 amount to £2,852,039.
Grants and distributions made in the 2023–24 fnancial year varied from £500 to £120,000 and were made to the following institutions. Listed below are the grantees who received grants greater than £5,000 during the year.
## **ASICS Get Active Connector Fund**
Aberconwy Mind (Conwy Mind) Islington Mind Wirral Mind Plymouth and District Mind (Devon Mind)
## **BAYO**
The Ubele Initiative
## **Co-op Resilience Programme Extend Wave Two Medium Grants 2021–22**
City, Hackney & Waltham Mind Ystradgynlais Mind Mind In Furness
## **Organisational Development Fund 2022**
Buckinghamshire Mind Bristol Mind Tyneside and Northumberland Mind Swansea Mind Abertawe Havant and East Hants Mind Carlisle Eden Mind Llanelli Mind
## **Thames Valley Legacies**
Buckinghamshire Mind Wycombe Mind Limited Oxfordshire Mind
## **Schools and Colleges Early Support Service 2022**
Rotherham & Barnsley Mind Aberconwy Mind (Conwy Mind) City, Hackney & Waltham Mind Coventry & Warwickshire Mind Neath Port Talbot Mind Association Hammersmith and Fulham Mind Middlesbrough and Stockton Mind York & District Mind North Stafordshire Mind
## **Culturally Competent Talking Therapies**
The Empowerment Group Diverse Excellence Cymru Black Minds Matter UK
## **Equity and Lived Experience Development Fund 2024–25**
North Kent Mind Oxfordshire Mind Mind in the City, Hackney and Waltham Forest Burton and District Mind Newport Mind Thurrock & Brentwood Mind Mind in Kingston
## **Help Through Hardship Local (Extension)**
Doncaster Mind Leeds Mind
## **LMGF Services 2021 Uplif**
Mind in Haringey Oxfordshire Mind
## **Sony Young People and Racial trauma**
Partisan
## **Supported Self Help London Consortium 23/25**
Lancashire Mind Middlesbrough and Stockton Mind Northamptonshire Mind Washington Mind West Sussex Mind Mind in Somerset Rotherham & Barnsley Mind Cornwall Mind Shefeld Mind Rochdale & District Mind Mind In Tower Hamlets & Newham Lancashire Mind Bath Mind West Sussex Mind Mind in Kingston Tameside Oldham and Glossop Mind Richmond Borough Mind Mid Powys Mind Rotherham & Barnsley Mind Hull and East Yorkshire Mind
90
**Mind** Accounts to 31 March 2024
## **25. Grants and other distributions to institutions (continued)**
Brighton & Hove Mind Manchester Mind – Zion Centre City, Hackney & Waltham Mind Newport Mind Mind In Salford
## **MHPP – MENTOR 2.0 / Midlands Engine**
Burton and District Mind
## **Missing Middle Wales**
Swansea Mind Neath Port Talbot Mind Association Merthyr & the Valleys Mind (Cwm Taf Morgannwg Mind)
## **Money & Me 2023/24 – Service Delivery**
Lancashire Mind Leeds Mind Neath Port Talbot Mind Association Middlesbrough and Stockton Mind
## **Supported Self Help Wales Consortium 23/24**
Swansea Mind Aberconwy Mind (Conwy Mind) Brecon & District Mind Mid Powys Mind Mind Monmouthshire Ltd Newport Mind Neath Port Talbot Mind Association Torfaen and Blaenau Gwent Mind Mind in the Vale of Glamorgan Aberconwy Mind (Conwy Mind) North East Wales Mind Caerphilly Borough Mind Vale of Clwyd Mind Pembrokeshire Mind Cardif Mind Merthyr & the Valleys Mind (Cwm Taf Morgannwg Mind) Ystradgynlais Mind Llanelli Mind
## **Money & Me 2023/24 – Service Design**
Lancashire Mind Leeds Mind Neath Port Talbot Mind Association Middlesbrough and Stockton Mind
## **Network Business Continuation Fund**
Mind In Bradford Maidstone & Mid Kent Mind Mind In Tower Hamlets & Newham Buckinghamshire Mind Redcar & Cleveland Mind Llanelli Mind Coventry & Warwickshire Mind Mind BLMK Tameside Oldham and Glossop Mind Derbyshire Mind Oxfordshire Mind Nottinghamshire Mind Mind in West Essex Mind in Enfeld and Barnet Brent Wandsworth & Westminster Mind Mind In Tower Hamlets & Newham Havering Mind Islington Mind City, Hackney & Waltham Mind Mind In Haringey Hammersmith and Fulham Mind Mind in Bexley
## **Time To Change Wales – Welsh government**
Adferiad Recovery
## **Wellbeing Advisers CYP 2022–23**
Hammersmith and Fulham Mind Coventry & Warwickshire Mind Newport Mind
## **Working Towards a Trauma Informed Vision (CYP) 2024–25**
Rotherham & Barnsley Mind Cornwall Mind North Lincolnshire Mind North Stafordshire Mind West Kent Mind Scarborough Whitby & Ryedale Mind Leeds Mind Manchester Mind – Zion Centre Mid-Cheshire Mind South Kent Mind Darlington Mind Hull and East Yorkshire Mind City, Hackney & Waltham Mind North Stafordshire Mind Bromley, Lewisham and Greenwich Mind Hammersmith and Fulham Mind West Sussex Mind Newport Mind Mind in Bradford Lancashire Mind Tameside Oldham and Glossop Mind
91
**Mind** Accounts to 31 March 2024
## **25. Grants and other distributions to institutions (continued)**
|**Grants payable by charitable objective**|**2024**
**£'000**|
**2023**
**£'000**|
|---|---|---|
|We connect Minds|236|
437|
|We support Minds|3,062|
3,804|
|We change Minds|341|
584|
|Together, we are Mind|1,140|
928|
|**Total**|**4,779**|
**5,753**|
## **26. The Elliott Charity**
Mind is trustee for The Elliot Charity. The fgures below have been included in the consolidated accounts in restricted funds.
||**2024**
**£'000**|**2023**
**£'000**|
|---|---|---|
|**Net assets**|||
|Cash at bank|40|40|
|**Funds**|||
|Balance at 1 April|40|40|
|Income/(expenditure)|-|-|
|**Balance at 31 March**|**40**|**40**|
The charity makes grants to provide training and personal development opportunities for persons employed in the feld of mental health. We are reviewing how best these funds can be used for the benefciaries.
## **27. Mary Hemingway Rees Memorial Fund**
Mind is the trustee of this fund. The fgures below have been included in the consolidated accounts in restricted funds.
||**2024**
**£'000**|**2023**
**£'000**|
|---|---|---|
|**Net assets**|||
|Cash at bank|15|15|
|**Funds**|||
|Balance at 1 April|15|15|
|Income/(expenditure)|-|-|
|**Balance at 31 March**|**15**|**15**|
The trust gives grants towards speaker’s expenses for lectures on mental health and spiritual values usually organised by the World Federation for Mental Health as a memorial to the late Dr Mary Hemingway Rees.
92
**Mind** Accounts to 31 March 2024
## **28. Prior year comparatives for the statement of fnancial activities**
||**Note**|**Unrestricted**
**funds**
**£’000**|**Restricted**
**funds**
**£’000**|**Total**
**2023**
**£’000**|
|---|---|---|---|---|
|**Income and endowments**|||||
|**Incoming resources from generated funds**|||||
|Donations and legacies|2|29,126|121|**29,247**|
|**Income from other trading activities**|||||
|Shop income|3|22,761|-|**22,761**|
|**Total funds from trading activities**||22,761|-|**22,761**|
||||||
|**Investment income**|4|495|-|**495**|
|**Income from charitable activities**|5||||
|We connect minds||839|320|**1,159**|
|We support minds||96|2,560|**2,656**|
|We change minds||45|624|**669**|
|Together, we are Mind||1,463|706|**2,169**|
|**Total income from charitable activities**|5|2,443|4,210|**6,653**|
|**Total income**||54,825|4,331|59,156|
||||||
|**Expenditure**|||||
|**Expenditure on raising funds**|||||
|Donations and legacies|6|9,328|-|**9,328**|
|Shop costs|3|16,874|-|**16,874**|
|**Total costs of raising funds**||26,202|-|26,202|
||||||
|**Expenditure on charitable activities**|||||
|We connect minds||4,872|726|**5,598**|
|We support minds||8,484|4,670|**13,154**|
|We change minds||5,444|661|**6,105**|
|Together, we are Mind||19,929|1,551|**21,480**|
|**Total expenditure on charitable activities**|7|**38,729**|**7,608**|**46,337**|
|**Total expenditure**||**64,931**|**7,608**|**72,539**|
||||||
|Gain on investments||(742)|-|**(742)**|
|Proft on sale of property||(111)|-|**(111)**|
|**Net income**||**(10,959)**|**(3,277)**|**(14,236)**|
||||||
|**Other recognised gains/(losses)**|||||
|Actuarial loss on defned beneft pension scheme||36|-|**36**|
|**Net movement in funds**||**(10,923)**|**(3,277)**|**(14,200)**|
|Balances brought forward||41,110|11,627|**52,737**|
|**Balances carried forward**||**30,187**|**8,350**|**38,537**|
- All transactions are derived from continuing activities.
- All recognised gains and losses are included in the statement of fnancial activities
93
## **We really can’t thank you enough**
Everyone who supports Mind in any way changes people’s lives. Everyone who is part of our community strengthens the fght for mental health. To everyone listed here, and to the millions of Mind supporters there isn’t space to mention, we hope you know what a diference you make.
**Thank you for everything you do.**
**Mind** Trustees’ annual report 2023/24
## **The companies, trusts, special individual supporters and statutory bodies that funded our work**
## **Companies**
Allianz
ASICS EMEA
Connells Group
Co-op Dunelm (Sof Furnishings) Ltd Elemis E.ON Erborian Hennes & Mauritz Retail Ltd JD Outdoor Kimberly-Clark Leonardo Hotels McVitie's Moto Foundation Nestlé Waters Odeon
Revlon Professional Seasalt Cornwall Simply Business Telent Technology Services Ltd Tesco (Convenience South) The Works WHSmith
## Trusts, foundations and individual supporters
BBC Children in Need Covid-19 Support Fund supported by members of the Association of British Insurers (ABI)
Simon Cresswell and The Apax Foundation
Ellerdale Trust Garfeld Weston Foundation GMC Trust Hosking Charitable Trust Cecil and Hilda Lewis Charitable Trust Edith Murphy Foundation Miss Hanson's Charitable Trust
Miss Kathleen Beryl Sleigh Charitable Trust ShareGif Douglas and Sally Smallwood Sophie Tea Art The Brewers Foundation CAF Trust The Chillag Family Charitable Trust The Constance Travis Charitable Trust The Fidelis Foundation The Muriel Jones Foundation The Lyons Charitable Trust The Ian Mactaggart Trust The Pemberton Barnes Trust The Pixel Fund
## Statutory bodies
Care Quality Commission Crisis Care Concordat Midlands Engine Sport England Welsh Government
The Royal Foundation of the Prince and Princess of Wales
The Swiss Re Foundation
The Thompson Family Charitable Trust
The 3 Ts Charitable Trust The Wyseliot Rose Charitable Trust
95
**We are Mind. We’re here to fght for mental health. For support. For respect. For you.**
To donate to our work and join the fght for mental health, please visit mind.org.uk/donate
Mind (The National Association for Mental Health)
Registered ofce: 2 Redman Place London E20 1JQ 020 8215 2243 supporterrelations@mind.org.uk mind.org.uk X @mindcharity Facebook.com/mindforbettermentalhealth
Mind Infoline: 0300 123 3393
Registered as a charity in England and Wales under number 219830 and as a company limited by guarantee in England and Wales under number 424348