2023-03-31-accounts

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Charity registration number 276108

Company registration number 01336352 (England and Wales)

SHEFFIELD MIND LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

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SHEFFIELD MIND LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr I Burnell (Appointed 29 June 2022) Mr J Colley (Appointed 19 April 2022) Mr T Cruickshank (Appointed 19 April 2022) Mr B Graney C Hurley (Appointed 19 April 2022) I Parker (Appointed 19 April 2022) Secretary Mrs M Lewis Charity number 276108 Company number 01336352 Registered office The Wellbeing Centre 110 Sharrow Lane Sheffield S11 8AL Auditor Knowles Warwick Audit Services Limited Charlotte House 500 Charlotte Road Sheffield S2 4ER Bankers CAF Bank Ltd 25 Kings Hill Avenue West Malling Kent ME19 4JQ

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SHEFFIELD MIND LIMITED

	Page
Trustees' report	1 - 11
Statement of trustees' responsibilities	12
Independent auditor's report	13 - 15
Statement of financial activities	16
Balance sheet	17
Statement of cash flows	18
Notes to the financial statements	19 - 35

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SHEFFIELD MIND LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2023

The trustees present their annual report and financial statements for the year ended 31 March 2023.

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SHEFFIELD MIND LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

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SHEFFIELD MIND LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

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SHEFFIELD MIND LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

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SHEFFIELD MIND LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

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SHEFFIELD MIND LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

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SHEFFIELD MIND LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

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SHEFFIELD MIND LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

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SHEFFIELD MIND LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

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SHEFFIELD MIND LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Financial review

Overall income in the year was £1,132,537 this is inline with the previous year. Although income has been maintained expenditure has reduced significantly to £848,864, this is a 27% reduction on the previous year. The reduction in expenditure has been driven by the cessation of the SRS scheme and the related staff being TUPE'd over to the new provider.

The net surplus before pension adjustments was £283,673, this is an improvement on the previous years deficit of £20,746.

Per the actuarial valuation the South Yorkshire Pensions Authority defined benefit scheme had a surplus of £364,000 as at 31 March 2023.

Cash reserves are £1,940,712 which is sufficient to maintain operations going forward.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Reserves policy

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

Structure, governance and management

The charity is a company limited by guarantee.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

E Bancer (Appointed 19 April 2022 and resigned 15 March 2023) Mr I Burnell (Appointed 29 June 2022) Mr J Colley (Appointed 19 April 2022) Mr T Cruickshank (Appointed 19 April 2022) Mr B Graney C Hurley (Appointed 19 April 2022) Mr S Jones (Resigned 17 September 2022) I Parker (Appointed 19 April 2022) S Rollinson-Hayes (Resigned 17 March 2023) Ms G Holt (Resigned 4 November 2022) Mr A Cain (Resigned 29 June 2022) Mr M Khan (Resigned 19 April 2022) Ms S Mulholland (Appointed 19 April 2022 and resigned 28 July 2022)

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SHEFFIELD MIND LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

The company's current policy concerning the payment of trade creditors is to follow the CBI's Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1DU).

The company's current policy concerning the payment of trade creditors is to:

settle the terms of payment with suppliers when agreeing the terms of each transaction;
ensure that suppliers are made aware of the terms of payment by inclusion of the relevant terms in contracts; and
pay in accordance with the company's contractual and other legal obligations.

Trade creditors of the company at the year end were equivalent to 38 day's purchases, based on the average daily amount invoiced by suppliers during the year.

Auditor

In accordance with the company's articles, a resolution proposing that Knowles Warwick Audit Services Limited be reappointed as auditor of the company will be put at a General Meeting.

The trustees' report was approved by the Board of Trustees.

.............................. Mr B Graney

Trustee

12/14/2023

Date: .............................................

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SHEFFIELD MIND LIMITED

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2023

The trustees, who are also the directors of Sheffield Mind Limited for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP;
make judgements and estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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SHEFFIELD MIND LIMITED

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF SHEFFIELD MIND LIMITED

Opinion

We have audited the financial statements of Sheffield Mind Limited (the ‘charity’) for the year ended 31 March 2023 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

give a true and fair view of the state of the charitable company's affairs as at 31 March 2023 and of its incoming resources and application of resources, 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.

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 financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial 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.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of 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 financial 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.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

the information given in the financial statements is inconsistent in any material respect with the trustees' report; or
sufficient accounting records have not been kept; or
the financial statements are not in agreement with the accounting records; or
we have not received all the information and explanations we require for our audit.

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SHEFFIELD MIND LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF SHEFFIELD MIND LIMITED

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’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 financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial 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 influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

We assessed the susceptibility of the company’s financial statements to material misstatement, including how fraud might occur, by;

Making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

In response to the risk of revenue recognition, we;

Performed analytical procedures to identify unusual transactions; and
Performed detailed substantive testing across all revenue streams

In response to the risk of fraud through management bias and override of controls, we:

Performed analytical procedures to identify unusual transactions;
Assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
Investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

Agreeing financial statement disclosures to underlying supporting documentation
Enquiring of management as to actual and potential litigation and claims; and
Reviewing correspondence with HMRC and other relevant parties.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees 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 charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

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SHEFFIELD MIND LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF SHEFFIELD MIND LIMITED

Steven Knowles FCA (Senior Statutory Auditor) for and on behalf of Knowles Warwick Audit Services Limited

Chartered Accountants Statutory Auditor

......................... Charlotte House 500 Charlotte Road Sheffield S2 4ER

Knowles Warwick Audit Services Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

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SHEFFIELD MIND LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2023

Unrestricted Restricted funds funds 2023 2023 Notes £ £ Income from: Donations and legacies 3 63,231 - Charitable activities 4 494,450 543,732 Other trading activities 6 25,507 - Investments 7 5,617 - Total income 588,805 543,732 Expenditure on: 5 Raising funds 8 19,798 - Charitable activities 9 460,957 368,109 Total expenditure 480,755 368,109 Net income/(expenditure) 108,050 175,623 Other recognised gains and losses: Actuarial gains on defined benefit pension schemes 535,000 - Net movement in funds 13 643,050 175,623 Reconciliation of funds: Fund balances at 1 April 2022 838,630 75,868 Fund balances at 31 March 2023 1,481,680 251,491	Total Unrestricted Restricted funds funds 2023 2022 2022 £ £ £ 63,231 42,147 - 1,038,182 774,082 272,167 25,507 42,373 - 5,617 12,357 - 1,132,537 870,959 272,167 19,798 19,059 - 829,066 747,468 397,345 848,864 766,527 397,345 283,673 104,432 (125,178) 535,000 198,000 - 818,673 302,432 (125,178) 914,498 536,198 201,046 1,733,171 838,630 75,868	Total 2022 £ 42,147 1,046,249 42,373 12,357 1,143,126 19,059 1,144,813 1,163,872 (20,746) 198,000 177,254 737,244 914,498

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

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SHEFFIELD MIND LIMITED

BALANCE SHEET

AS AT 31 MARCH 2023

Notes Fixed assets Tangible assets 16 Current assets Debtors 17 Cash at bank and in hand Creditors: amounts falling due within one year 18 Net current assets Total assets less current liabilities Net assets excluding pension surplus/(deficit) Defined benefit pension surplus/(deficit) 20 The funds of the charity Restricted income funds 21 Unrestricted funds Pension reserve	2023 £ £ 415,338 65,829 1,940,712 2,006,541 1,052,708 953,833 1,369,171 1,369,171 364,000 251,491 1,117,680 364,000 1,733,171	2022 £ £ 429,655 103,490 2,052,035 2,155,525 1,499,682 655,843 1,085,498 1,085,498 (171,000) 75,868 1,009,630 (171,000) 914,498

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2023, although an audit has been carried out under section 144 of the Charities Act 2011.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

12/14/2023

The financial statements were approved by the trustees on .........................

..............................

Mr B Graney Trustee

Company registration number 01336352 (England and Wales)

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SHEFFIELD MIND LIMITED

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2023

Notes Cash flows from operating activities Cash (absorbed by)/generated from operations 26 Investing activities Purchase of tangible fixed assets Investment income received Net cash generated from investing activities Net cash used in financing activities Net (decrease)/increase in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year	2023 £ £ (112,118) (1,822) 2,617 795 - (111,323) 2,052,035 1,940,712	2022 £ £ 654,403 (5,277) 12,357 7,080 - 661,483 1,390,552 2,052,035	2022 £ £ 654,403 (5,277) 12,357 7,080 - 661,483 1,390,552 2,052,035
			661,483 1,390,552
			2,052,035

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SHEFFIELD MIND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

Charity information

Sheffield Mind Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is The Wellbeing Centre, 110 Sharrow Lane, Sheffield, S11 8AL.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

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SHEFFIELD MIND LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings 2% straight line Computer software 10% straight line Office equipment 20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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SHEFFIELD MIND LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

The cost of providing benefits under defined benefit plans is determined separately for each plan using the projected unit credit method, and is based on actuarial advice.

The change in the net defined benefit liability arising from employee service during the year is recognised as an employee cost. The cost of plan introductions, benefit changes, settlements and curtailments are recognised as incurred.

The net interest element is determined by multiplying the net defined benefit liability by the discount rate, taking into account any changes in the net defined benefit liability during the period as a result of contribution and benefit payments. The net interest is recognised in income/(expenditure) for the year.

Remeasurement changes comprise actuarial gains and losses, the effect of the asset ceiling and the return on the net defined benefit liability excluding amounts included in net interest. These are recognised immediately in other recognised gains and losses in the period in which they occur and are not reclassified to income/ (expenditure) in subsequent periods.

The net defined benefit pension asset or liability in the balance sheet comprises the total for each plan of the present value of the defined benefit obligation (using a discount rate based on high quality corporate bonds), less the fair value of plan assets out of which the obligations are to be settled directly. Fair value is based on market price information, and in the case of quoted securities is the published bid price. The value of a net pension benefit asset is limited to the amount that may be recovered either through reduced contributions or agreed refunds from the scheme.

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SHEFFIELD MIND LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from donations and legacies

	Unrestricted	Unrestricted
	funds	funds
	2023	2022
	£	£
Donations and gifts	63,231	42,147
Donations and gifts
Donations and memberships	30,417	23,918
In memoriam and legacies	23,814	4,129
Dixon Pitchfork Charitable Trust	1,000	1,000
Zachary Merton Trust	2,000	5,000
Facey Family Foundation Trust	5,000	5,000
Mick Forbes Trust	-	3,100
BFR Supposrt Forces Resettlement Trust	1,000	-
	63,231	42,147

4 Income from charitable activities

	Charitable	Charitable
	activities	activities
	2023	2022
	£	£
Income from charitable activities	1,038,182	1,046,249
Analysis by fund
Unrestricted funds	494,450	774,082
Restricted funds	543,732	272,167
	1,038,182	1,046,249

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SHEFFIELD MIND LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

5 Income from Charitable activities breakdown

Unrestricted Funds Restricted Funds 2023 2023 £ £ CCG Counselling Service 73,973 - Listening Line - Talbot Trust - - Listening Line - SCC - - Listening Line - Spear and Jackson - 20,000 KFIM Vetrans Families - 6,662 Mentally Healthy Universities (National Mind) - - Self Directed Support Activites (SRS) - - Connect 3 - SCC - - Magpies - Reaching Communities - 95,901 Student Social Work 4,300 - Springboard 21,996 - Budget Management 57,411 - Strategic Co-ordinator 23,382 - PCC Anger Management - - CCG Anger Management - 60,000 Community Connectors 224,495 - Sheffield City Council - Safer Spaces - 64,600 Sheffield City Council - COVID Resilience - - Thinking Pair - CCG - - Creative Minds - National Mind - 13,659 Rainbow Heron 2,102 - SMI Healthchecks and COVID Vacs - CCG - 46,000 Zest Live Lighter - - Sundry Income 20,641 - This is Us - 92,000 Through the Clouds - CCG 38,900 Wellbeing Navigators - 64,046 SHSC Waiting List 27,250 - Kaliedoscope Cafe CCG - 6,763 Betaway Limited - Gambling Commission - 74,101 494,450 543,732	Total 2023 £ 73,973 - - 20,000 6,662 - - - 95,901 4,300 21,996 57,411 23,382 - 60,000 224,495 64,600 - - 13,659 2,102 46,000 - 20,641 92,000 38,900 64,046 27,250 6,763 148,202 1,038,182	Total 2022 £ 73,409 - 20,000 - 48,500 15,387 313,827 54,750 47,921 3,330 25,134 68,752 29,176 5,000 15,000 166,057 25,000 14,973 34,000 13,659 1,746 47,700 10,000 12,928 - - - - - -
		1,046,249

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SHEFFIELD MIND LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

6 Income from other trading activities

	Unrestricted	Unrestricted
	funds	funds
	2023	2022
	£	£
Non-charitable trading activities	11,976	2,638
Fundraising events	13,531	39,735
Other trading activities	25,507	42,373

7 Income from investments

	Unrestricted	Unrestricted
	funds	funds
	2023	2022
	£	£
Interest receivable	2,617	12,357
Net interest on defined benefit pension scheme	3,000	-
	5,617	12,357

8 Expenditure on raising funds

	Unrestricted	Unrestricted
	funds	funds
	2023	2022
	£	£
Fundraising and publicity
Other fundraising costs	1,280	699
Staff costs	18,518	18,360
	19,798	19,059

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SHEFFIELD MIND LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

9 Expenditure on charitable activities

		Charitable	Charitable
		activities	activities
		2023	2022
		£	£
	Direct costs
	Staff costs	503,915	796,390
	Charitable activities	77,353	88,892
		581,268	885,282
	Share of support and governance costs (see note 10)
	Support	227,834	244,325
	Governance	19,964	15,206
		829,066	1,144,813
	Analysis by fund
	Unrestricted funds	460,957	747,468
	Restricted funds	368,109	397,345
		829,066	1,144,813
10	Support costs allocated to activities
		2023	2022
		£	£
	Staff costs	143,931	181,426
	Depreciation	16,139	15,691
	Information techology	18,877	20,795
	Office costs	39,146	18,391
	Other support costs	9,741	8,022
	Governance costs	19,964	15,206
		247,798	259,531
	Analysed between:
	Charitable activities	247,798	259,531
11	Auditor's remuneration
	Fees payable to the charity's auditor and associates:	2023	2022
		£	£
	For audit services
	Audit of the financial statements of the charity	9,941	11,920

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SHEFFIELD MIND LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

12 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

Net movement in funds	2023	2022
	£	£
Net movement in funds is stated after charging/(crediting)
Depreciation of owned tangible fixed assets	16,139	15,691

14 Employees

The average monthly number of employees during the year was:

Total Employment costs Wages and salaries Social security costs Other pension costs	2023 Number 30 2023 £ 559,605 39,319 67,440 666,364	2022 Number 49
		2022 £ 885,415 58,443 52,318
		996,176

Redundancy and termination payments totalling £4,685 were made in the reporting period.

There were no employees whose annual remuneration was more than £60,000.

Remuneration of key management personnel

The remuneration of key management personnel is as follows.

	2023	2022
	£	£
Aggregate compensation	108,549	155,875

15 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

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SHEFFIELD MIND LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

16
Tangible fixed assets
Freehold land
and buildings
Computer
software
£
£
Cost
At 1 April 2022
449,750
10,656
Additions
-
-
At 31 March 2023
449,750
10,656
Depreciation and impairment
At 1 April 2022
43,224
3,020
Depreciation charged in the year
8,995
1,066
At 31 March 2023
52,219
4,086
Carrying amount
At 31 March 2023
397,531
6,570
At 31 March 2022
406,526
7,636
17
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income
18
Creditors: amounts falling due within one year
Notes
Other taxation and social security
Deferred income
19
Trade creditors
Other creditors
Accruals and deferred income

Included in other creditors is an amount of £775,786 (2022 - £987,045) for Self Directed Support relating to funds held on behalf of clients. These funds are held in a separate ring fenced bank account which is included in cash and bank on the balance sheet.

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SHEFFIELD MIND LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

19 Deferred income

Deferred income
2023 £ Other deferred income 175,280 Deferred income is included in the financial statements as follows: 2023 £ Deferred income is included within: Current liabilities 175,280 Movements in the year: Deferred income at 1 April 2022 454,019 Released from previous periods (454,019) Resources deferred in the year 175,280 Deferred income at 31 March 2023 175,280	2022 £ 454,019
	2022 £ 454,019
	54,409 (54,409) 454,019
	454,019

20 Retirement benefit schemes

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

Defined benefit schemes

The charity operates a defined benefit scheme for qualifying employees. Under the scheme, the employees are entitled to retirement benefits based on a percentage of their final salary at the point of retirement . No other post retirement benefits are provided.

The most recent actuarial valuations of plan assets and the present value of the defined benefit obligation were carried out at 16 May 2023 by Hymans Robertson LLP, Fellow of the Institute of Actuaries. The present value of the defined benefit obligation, the related current service cost and past service cost were measured using the projected unit credit method.

Key assumptions
	2023	2022
	%	%
Discount rate	4.75	2.7
Expected rate of increase of pensions in payment	3.0	3.2
Expected rate of salary increases	3.6	4.2

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SHEFFIELD MIND LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

Retirement benefit schemes		(Continued)
Mortality assumptions
The assumed life expectations on retirement at age 65 are:
	2023	2022
	Years	Years
Retiring today
- Males	20.5	22.6
- Females	23.7	25.4
Retiring in 20 years
- Males	21.5	24.1
- Females	25.2	27.3
Amounts recognised in the profit and loss account:
	2023	2022
	£	£
Net interest on defined benefit liability/(asset)	3,000	12,000
Amounts taken to other comprehensive income:
	2023	2022
	£	£
Actual return on scheme assets	53,000	(232,000)
Less: calculated interest element	44,000	51,000
Return on scheme assets excluding interest income	97,000	(181,000)
Actuarial changes related to obligations	(526,000)	(253,000)
Other gains and losses	(85,000)	9,000
Total costs/(income)	(514,000)	(425,000)
The amounts included in the balance sheet arising from the charity's
obligations in respect of defined benefit plans are as follows:
	2023	2022
	£	£
Present value of defined benefit obligations	1,199,000	2,806,000
Fair value of plan assets	(1,563,000)	(2,635,000)
(Surplus)/deficit in scheme	(364,000)	171,000

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SHEFFIELD MIND LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

20	Retirement benefit schemes	(Continued)
	Movements in the present value of defined benefit obligations:
		2023
		£
	Liabilities at 1 April 2022	2,806,000
	Benefits paid	(37,000)
	Actuarial gains and losses	(526,000)
	Interest cost	47,000
	Other	(1,091,000)
	At 31 March 2023	1,199,000
	The defined benefit obligations arise from plans funded as follows:
		2023
		£
	Wholly unfunded obligations	-
	Wholly or partly funded obligations	1,199,000
		1,199,000
	Movements in the fair value of plan assets:
		2023
		£
	Fair value of assets at 1 April 2022	2,635,000
	Interest income	44,000
	Return on plan assets (excluding amounts included in net interest)	(97,000)
	Benefits paid	(37,000)
	Contributions by the employer	24,000
	Other	(1,006,000)
	At 31 March 2023	1,563,000

The fair value of plan assets at the reporting period end was as follows:

Equity instruments Property Bonds Cash and liquid assets	2023 £ 1,062,840 125,040 359,490 15,630 1,563,000	2022 £ 1,739,100 237,150 632,400 26,350
		2,635,000

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SHEFFIELD MIND LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

21 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

	At 1 April	Incoming	Resources	Transfers	At 31 March
	2022	resources	expended		2023
	£	£	£	£	£
NHS CCG LGBTQ+ Rainbow
Cafe	-	6,763	(3,867)	-	2,896
KFIM - Veterans Families	10,601	6,662	(17,263)	-	-
NHS CCG Health Outcomes	-	46,000	(46,000)	-	-
Magpies - Reaching
communites	33,536	95,901	(88,928)	-	40,509
CGC Anger management	5,826	60,000	(17,738)	12,246	60,334
Sheffield City Council - Safer
spaces	-	64,600	(54,099)	-	10,501
Thinking Pair - CCG	12,246	-	-	(12,246)	-
Creative Minds - National Mind	13,659	13,659	(25,308)	-	2,010
This is Us	-	92,000	(50,527)	-	41,473
Gambling Commission -
Restricted donation	-	74,101	(37,187)	-	36,914
Listening Spear and Jackson	-	20,000	(18,208)	-	1,792
Wellbeing Navigators	-	64,046	(8,984)	-	55,062
	75,868	543,732	(368,109)	-	251,491

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SHEFFIELD MIND LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

Restricted funds					(Continued)
Previous year:	At 1 April	Incoming	Resources	Transfers	At 31 March
	2021	resources	expended		2022
	£	£	£	£	£
Ripple Effect	28,350	-	(28,350)	-	-
Get Set Go	1,876	-	(1,876)	-	-
Families in Stress	67,790	-	(31,023)	(36,767)	-
Wellbeing practitioners	21,366	-	(21,366)	-	-
KFIM - Veterans Families	1,424	48,500	(76,090)	36,767	10,601
Mentally Healthy Universities	3,565	15,387	(18,952)	-	-
MOD Covid-19 Impact Project-
Movement Therapy	1,581	-	(1,581)	-	-
IT Funding - National Mind	332	-	(332)	-	-
Listening Line - N MInd Covid-
19 Loneliness Fund	-	20,000	(20,000)	-	-
PCC Anger Management	(2,062)	5,000	(2,938)	-	-
Magpies - Reaching
communites	76,824	47,921	(91,209)	-	33,536
CGC Anger management	-	15,000	(15,000)	-	-
Sheffield City Council - Safer
spaces	-	25,000	(19,174)	-	5,826
Thinking Pair - CCG	-	34,000	(21,754)	-	12,246
Creative Minds - National Mind	-	13,659	-	-	13,659
SMI Healthchecks and COVID
Vacs - CCG	-	47,700	(47,700)	-	-
	201,046	272,167	(397,345)	-	75,868

22 Restricted fund project information

Ripple Effect

To help reduce loneliness in the Sheffield Area

Magpies

To provide help and support to hoarders

Get Set Go

To improve the health of individuals in the Sheffield area

Families in Stress

To help families impacted by stressful situations

Wellbeing Practitioners

A service offering counselling to people over the age of 50 who are isolated in their communities

KFIM Veterans Families

Providing counselling and support to veterans families

Mentally Healthy Universities

Delivering mental health and wellbeing to University of Sheffield staff and students

MOD Covid Impact Project – Movement Therapy

Delivering movement psychotherapy, via Zoom during the pandemic

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SHEFFIELD MIND LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

22 Restricted fund project information

(Continued)

IT Funding – National Mind

A grant which allowed us to purchase additional IT equipment so that our staff could continue to work from home during the pandemic

Listening Line – National Mind Covid-19 Loneliness Fund Providing phone support to the lonely and isolated during the pandemic

PCC Anger Management Providing Women’s and Men’s group Anger Management Courses

Thinking Pair (NHS South Yorkshire ICB)

Helps people create lives they love and organisations where everyone can thrive. We do this through workshops, consultancy, coaching and the sharing of insight and expertise developed over years of experience. The Commissioner has agreed that the residual funding can be used to cover the costs of the Anger Management Service.

Covid Response Listening Line – (NHS South Yorkshire ICB) Offering telephone support to the lonely and isolated during the pandemic and encouraging the uptake of COVID testing, vaccinations and boosters, supporting self-isolation and increasing understanding of COVID prevention, management and Long Covid.

Health checks, COVID 19 and Flu – NHS South Yorkshire ICB To provide outreach and engagement to support people with Severe Mental Illness (SMI) access their annual GP Health Check and increase uptake of COVID 19 and flu vaccinations by this population.

Safer Spaces – Sheffield City Council

To provide a counselling service/talking therapy services for adults who have lived with or have experienced domestic abuse in Sheffield and are living in safe accommodation.

Anger Management – NHS South Yorkshire ICB To provide Anger Management services, in advance of service procurement from April 2022

Creative Minds – National Mind To provide Art and Movement Therapy groups for women aged 18 upwards who live in Sheffield.

Gambling Awareness Project Sheffield – Gambling Commission A two year pilot funded looking at effective ways of supporting young people (aged 11-25) who are at risk of gambling/gaming related harm.

Spear & Jackson – Listening Line/Information Officer To provide phone support to people isolated during the pandemic and provide information, advice and signposting.

Kaleidoscope Café – NHS South Yorkshire ICB To provide a safe and supportive space to people from the LGBTQ+ community, who are isolated, lonely, have mental health issues, or who want to meet new people.

This is Us - NHS South Yorkshire ICB

To work with local community groups through art therapy sessions to support participants to think about mental health, their experiences of using mental health services and how to access all the great VCSE (voluntary) sector support that is out there

Wellbeing Navigators - NHS South Yorkshire ICB To provide guidance and financial support to individuals with Severe Mental Health (SMI) issues whose mental health and wellbeing is being adversely affected by the Cost of Living Crisis.

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SHEFFIELD MIND LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

23 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

	At 1 April	Incoming	Resources	Transfers	Gains and	At 31 March
	2022	resources	expended		losses	2023
	£	£	£	£	£	£
Close down
costs	48,358	-	-	9,872	-	58,230
Working capital	182,883	-	-	(32,982)	-	149,901
Pension deficit
3 months	6,108	-	-	305	-	6,413
General funds	772,281	588,805	(480,755)	22,805	-	903,136
	1,009,630	588,805	(480,755)	-	-	1,117,680
Pension fund	(171,000)	-	21,000	-	514,000	364,000
	838,630	588,805	(459,755)	-	514,000	1,481,680
Previous year:	At 1 April	Incoming	Resources	Transfers	Gains and	At 31 March
	2021	resources	expended		losses	2022
	£	£	£	£	£	£
Close down
costs	77,286	-	-	(28,928)	-	48,358
Working capital	276,000	-	-	(93,117)	-	182,883
Pension deficit
3 months	9,021	-	-	(2,913)	-	6,108
General funds	554,891	870,959	(778,527)	124,958	-	772,281
	917,198	870,959	(778,527)	-	-	1,009,630
Pension fund	(381,000)	-	12,000	-	198,000	(171,000)
	536,198	870,959	(766,527)	-	198,000	838,630
Analysis of net assets between funds
				Unrestricted	Restricted	Total
				funds	funds
				2023	2023	2023
				£	£	£
Fund balances at 31 March 2023 are represented by:
Tangible assets				415,338	-	415,338
Current assets/(liabilities)				877,622	76,211	953,833
Provisions and pensions				188,720	175,280	364,000
				1,481,680	251,491	1,733,171

24 Analysis of net assets between funds

DocuSign Envelope ID: 69B0772A-0B95-40EB-8FCB-9D3A42466D66DocuSign Envelope ID: E1249D30-31E3-4632-8173-02D2831EE633DocuSign Envelope ID: D26547AE-DF33-4D10-A1DE-0699DD9B00E9

SHEFFIELD MIND LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

24 Analysis of net assets between funds

(Continued)

	Unrestricted	Restricted	Total
	funds	funds
	2022	2022	2022
	£	£	£
Fund balances at 31 March 2022 are represented by:
Tangible assets	429,655	-	429,655
Current assets/(liabilities)	579,975	75,868	655,843
Provisions and pensions	(171,000)	-	(171,000)
	838,630	75,868	914,498

25 Related party transactions

There were no disclosable related party transactions during the year (2022 - none).

26
Cash generated from operations
2023
£
Surplus for the year
283,673
Adjustments for:
Investment income recognised in statement of financial activities
(2,617)
Depreciation and impairment of tangible fixed assets
16,139
Difference between pension charge and cash contributions
-
Movements in working capital:
Decrease/(increase) in debtors
37,661
(Decrease)/increase in creditors
(168,235)
(Decrease)/increase in deferred income
(278,739)
Cash (absorbed by)/generated from operations
(112,118)
27
Analysis of changes in net funds

2022
£
(20,746)
(12,357)
15,691
(12,000)
(67,781)
351,986
399,610
654,403

The charity had no material debt during the year.

SHEFFIELD MIND LIMITED

SHEFFIELD MIND LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

SHEFFIELD MIND LIMITED

CONTENTS

SHEFFIELD MIND LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2023

SHEFFIELD MIND LIMITED

SHEFFIELD MIND LIMITED

SHEFFIELD MIND LIMITED

SHEFFIELD MIND LIMITED

SHEFFIELD MIND LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

SHEFFIELD MIND LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

SHEFFIELD MIND LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

SHEFFIELD MIND LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

SHEFFIELD MIND LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Financial review

Reserves policy

Structure, governance and management

SHEFFIELD MIND LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Auditor

SHEFFIELD MIND LIMITED

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2023

SHEFFIELD MIND LIMITED

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF SHEFFIELD MIND LIMITED

Opinion

Basis for opinion

Conclusions relating to going concern

Other information

Matters on which we are required to report by exception

SHEFFIELD MIND LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF SHEFFIELD MIND LIMITED

Responsibilities of trustees

Auditor's responsibilities for the audit of the financial statements

Use of our report

SHEFFIELD MIND LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF SHEFFIELD MIND LIMITED

SHEFFIELD MIND LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2023

SHEFFIELD MIND LIMITED

BALANCE SHEET

AS AT 31 MARCH 2023

SHEFFIELD MIND LIMITED

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2023

SHEFFIELD MIND LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

Charity information

1.1 Accounting convention

1.2 Going concern

1.3 Charitable funds

1.4 Income

SHEFFIELD MIND LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

1.5 Expenditure

1.6 Tangible fixed assets

1.7 Impairment of fixed assets

1.8 Cash and cash equivalents

1.9 Financial instruments

SHEFFIELD MIND LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

Basic financial assets

Basic financial liabilities

Derecognition of financial liabilities