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← Herefordshire Mind

2025-03-31-accounts

Draft Financial Statements at 18 September 2025 at 12:18:06

Charity Registration No. 701260

Company Registration No. 02339094 (England and Wales)

HEREFORDSHIRE MIND

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Draft Financial Statements at 18 September 2025 at 12:18:06 HEREFORDSHIRE MIND

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr A Wilcox Mr A Fry Mr A Last Dr S Lamerton Mr S Powell Ms K Stones (Appointed 8 April 2024) Dr P Dawson (Appointed 2 December 2024) Mr J Perry (Appointed 2 December 2024) Mrs H Sampson (Appointed 2 December 2024) Chief Executive Ms A Lawrence Charity number 701260 Company number 02339094 Registered and Principal office Heffernan House 130-132 Widemarsh Street Hereford HR4 9HN Auditor Kendall Wadley LLP Granta Lodge 71 Graham Road Malvern Worcestershire WR14 2JS Bankers CAF Bank 25 Kings Hill Avenue West Malling Kent ME19 4JQ

Draft Financial Statements at 18 September 2025 at 12:18:06 HEREFORDSHIRE MIND

CONTENTS

Page
Chairman's statement 1
Trustees' report 2 - 7
Statement of Trustees' responsibilities 8
Independent auditor's report 9 - 11
Statement of financial activities 12 - 13
Balance sheet 14 - 15
Statement of cash flows 16
Notes to the financial statements 17 - 34

Draft Financial Statements at 18 September 2025 at 12:18:06 HEREFORDSHIRE MIND

CHAIRMAN'S STATEMENT

FOR THE YEAR ENDED 31 MARCH 2025

Chair's introduction

This year, we have continued our commitment to ensuring that no one faces mental health challenges alone. This past year has reminded me—again and again—why I’m so proud to be part of Herefordshire Mind.

As Chair of the Board of Trustees, I’ve had the privilege of seeing up close the dedication, compassion, and sheer hard work that goes into supporting people across our community. Whether it’s a quiet conversation, a group session, or a new initiative taking shape, every action is rooted in care and a belief that mental health support should be there for everyone, without barriers.

To this end our focus has been on strengthening our financial health, expanding the skill set of our Board and wider organisation, and developing a cohesive five-year service development strategy. We have also worked hard to build resilience within our teams and structured our governance procedures.

Having established our three and five year plans at a collaborative Awayday, attended by the Board of Trustees, Senior Management Team and Service Managers, we have a clear vision of our direction of development and this report outlines the first year in our development strategy.

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

Sue Lamerton Chairman

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

Draft Financial Statements at 18 September 2025 at 12:18:06 HEREFORDSHIRE MIND

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025

The Trustees present their annual report and financial statements for the year ended 31 March 2025.

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 constitution, 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)".

Objectives and activities

The Charity's objects are to focus on assisting in relieving and rehabilitating persons suffering from mental disorders or conditions of emotional or mental distress. There is unrestricted access to our services for all affected by such conditions and in consequence the activities delivered are for public benefit.

Our vision is of a world where everyone gets the respect and support they need to achieve good mental wellbeing.

To realise this, our Mission is to provide quality support, whilst raising awareness and promoting understanding about mental health issues.

We are (our Values)...

Independent: we will use our independence to speak out on behalf of people with mental health problems.

Responsive: we listen to what people tell us and act on this.

Open: we are transparent and accountable in all that we do.

Collaborative: working with others, we achieve more.

Creative: we nurture creativity and innovation.

The Trustees have paid due regard to guidance on public benefit issued by the Charity Commission in deciding what activities the Charity should undertake.

We continue to provide Community Hub Activities, which is the original core service, operating from our hub in Heffernan House, with "outreach" across the county delivering activities and support-based work.

With the changes in public sector funding, Herefordshire Mind has been under continuing pressure to seek additional sources of funding and we are grateful for the considerable support from the public and charitable funders.

We remain dependent on funding, donations, corporate sponsorship and legacies for much of what we deliver and we would like to thank all those organisations, national and local, charitable foundations and individuals who have helped to sustain our work.

Draft Financial Statements at 18 September 2025 at 12:18:06 HEREFORDSHIRE MIND

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025

Achievements and performance

In 2024 – 2025 Herefordshire Mind continued to grow and strengthen its work to ensure no one faces a mental health problem alone.

Fundraising

Herefordshire Mind has been supported in 2024 - 2025 by funds raised through members of the community (£28,145) and through grants applications (£27,500). The total amount raised in 2024/25 is £55,645. We raised a further £5,940 of income from training.

See page 22 for funding breakdown.

In 2024/25 Herefordshire Mind did not employ a specific fundraiser, however one member of the senior team undertook grant and community fundraising as part of their wider remit. The board of trustees have taken a decision to employ two part-time fundraisers, one will concentrate on grant fundraising and the other will support individuals, community groups and corporate partners to fundraise on our behalf. Herefordshire Mind does not employ the services of external professional fundraisers.

Herefordshire Mind is not currently a member of the funding regulator but will work towards ensuring that we meet all the standards in order register during the next financial year. Herefordshire Mind has not received any complaints in relation to fundraising.

Service Delivery and Development

Over the past year, Herefordshire Mind has supported approximately 300 individuals each week, offering a diverse range of mental health services and community-based support.

Counselling Services

Affordable Counselling Service. Delivered counselling to 277 clients, while also providing training and placement opportunities for 26 volunteer counsellors.

Peer Support Groups

Peer Support and Activity Groups. Engaging over 90 people each week in a variety of inclusive activities including art, music, and gardening. In addition we provide tailored support through, workshops for neurodiverse people, a peer-led group supporting the trans community, an anxiety management group as well as carer-specific support sessions.

Safe Haven

Safe Haven. Open 365 days a year, our Safe Haven responded to 2,333 calls, offering immediate support and crisis intervention.

Link Workers within Community Mental Health Teams

Social Prescribing Link Workers provided one-to-one support across Herefordshire, helping people address nonclinical factors impacting their mental health, such as isolation, housing, and personal finance.

Community Support

A community Mental Health service supporting 36 people with mental health difficulties to continue to live independently in the community.

Housing in Mind

Supported Housing for 11 people providing intensive housing support to prepare people to live independently.

Draft Financial Statements at 18 September 2025 at 12:18:06 HEREFORDSHIRE MIND

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025

Financial review

In common with the rest of the 3rd sector and with all suppliers of health and social care services, our environment remains very difficult, comprising a steady increase in the demand for services coupled with continued pressures on funding.

During the charity total income amounted to £945,292, which was an increase of £116,675 on the prior year, this was mainly due to an increase in supportive housing income received.

Total expenditure amounted to £1,008,219, which led to an overall decrease in funds of £62,927 for the year (2024 £137,405 decrease in funds).

Total reserves as at 31 March 2025 amounted to £1,042,574 (2024: £1,105,501), which comprised, restricted funds of £532,161, designated funds set aside for future funding purposes of £171,273 and unrestricted funds of £339,140.

The Board of Trustees established an objective, for free reserves (unrestricted funds not committed or invested in tangible fixed assets) to equal one month of resources expended; this equates to approximately £84,000 at 2024/25 expenditure levels. At this level the Board of Trustees feel the organisation would be able to meet most contingencies without affecting day-to-day activities.

Free reserves as at the year end amounted to a surplus of £240,398 (2024: £244,991).

The Trustees have assessed the major risks to which the Charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Maintaining financial stability remains a key priority. Like many charities, we have faced challenges and with Minimum wage increases and with the Employers National Insurance contribution increases from April 2025 these challenges continue. These changes have had a direct impact on our operating costs and required us to take proactive steps to safeguard our services. We have managed this by reconfiguring the delivery of some of our services and from April 2025 we are investing in our community and fundraising capacity to further diversify our income.

The Finance Subgroup of Trustees, established last year, has enabled deeper scrutiny of our accounts, with findings regularly presented to the full Board for review.

We are also grateful for the support of the Cranfield Trust, whose expert consultancy has helped us explore our financial planning and succession planning within our finance team.

Quality and Recognition

Mind Quality Mark (MQM)

In the middle of the year, we participated in the Mind Federation’s three-yearly Mind Quality Mark (MQM) assessment. MQM is the quality framework for local Minds, designed to ensure organisations are sustainable, effective, and influential in serving their communities. It sets out the baseline for best practice and legal compliance across all areas of governance and operations.

The MQM assessment covers four key domains;

The process was rigorous and comprehensive. It involved multiple online meetings, a two-day onsite visit by the - inspection team, and interviews with representatives from across our organisation including staff, volunteers, trustees, and service users.

Draft Financial Statements at 18 September 2025 at 12:18:06 HEREFORDSHIRE MIND

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025

The process prompted valuable reflection and led to the development of new procedures. We were proud to be awarded the Mind Quality Mark , affirming our commitment to excellence and accountability.

We have also been nominated for Excellence Awards in three categories: Leadership, Effective Services, and Workforce and Culture.

Our Services were described by the MQM review team as being holistic and providing life changing support to people. Our staff team was described as a caring, skilled and motivated workforce where lived experience is seen as an asset.

These recognitions stand as a testament to the visionary leadership of our CEO, Alicia Lawrence, the dedication of our staff, and the values that guide our organisation each day. We are honoured by this acknowledgment and remain committed to driving continuous improvement in support of the communities we work with.

Future plans

As we move into the next year of our development strategy, we do so with clarity, ambition, and a deep commitment to the people of Herefordshire.

We are also committed to deepening our understanding of the difference we make. By embedding more - qualitative research into our work, we aim to capture the real stories behind the statistics stories that help us learn, improve, and advocate more effectively.

Financial sustainability will remain a priority, and we will continue to explore new funding opportunities and partnerships. The evolving landscape of mental health support presents both challenges and opportunities, and we are determined to respond with creativity, compassion, and resilience.

Acknowledgements

To our staff, volunteers, partners, and supporters: thank you. You are the heart of this organisation. And to those we support - thank you for trusting us. Your courage and honesty shape everything we do.

We would like to thank everyone who has donated and supported our work this year whether you brought a calendar, ran a race or made an online donation. With particular mention to The Eveson Foundation, The Bulmer foundation, The Boarder Belles, Herefordshire Board gamers and Sallys place for their donations. Your support enables us to reach more people, innovate in our services, and continue to work towards ensuring that no in Herefordshire faces a Mental Health problem alone.

Draft Financial Statements at 18 September 2025 at 12:18:06 HEREFORDSHIRE MIND

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025

Trustee Board Development

This year, we have taken significant steps to strengthen and diversify our Trustee Board. Our aim has been to ensure a balanced representation of skills, backgrounds, and perspectives that reflect the communities we are part of and support the strategic direction of the organisation.

We successfully recruited new Trustees with expertise in fundraising and community engagement, enhancing the Board’s capacity to provide informed oversight and guidance.

In response to feedback from our staff survey, which highlighted a desire for greater visibility and engagement from Trustees, we have made this a priority. The Chair of the Board has held informal meetings with all Service Managers, fostering stronger relationships and improving communication between governance and operations.

We continue to encourage active participation from Trustees in activities, including attendance at service events, involvement in strategic planning sessions, and engagement with staff and service users.

Structure, governance and management

The Charity is a company limited by guarantee incorporated in England and Wales. The Charitable Company is governed by its Memorandum and Articles of Association dated 25 January 1989 and as amended by special resolution dated 16 July 1991, 26 July 1994, 18 January 2000 and 21 November 2001.

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:

Mr A Wilcox Mr A Fry Mr A Last Dr S Lamerton Mr S Powell Ms K Stones (Appointed 8 April 2024) Dr P Dawson (Appointed 2 December 2024) Mr J Perry (Appointed 2 December 2024) Mrs H Sampson (Appointed 2 December 2024)

The Trustees of Herefordshire Mind are appointed either through election at the Annual General Meeting or by co-option by existing Trustees at their meetings during the year. New Trustees are given an induction pack that explains their legal obligations under charity and company law and their proposed role in the charity. They are also given an opportunity to see the charities operations and to meet key employees and the Trustees.

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 board of Trustees administers the charity. The board appoints a Chief Executive Officer to manage the day to day operations of the charity and there is further delegation, within terms approved by the Trustees. The Chief Executive Officer is Alicia Lawrence.

The pay of key management personnel is set by the Board having due regard to responsibilities, experience and rates of pay in the health sector.

Draft Financial Statements at 18 September 2025 at 12:18:06 HEREFORDSHIRE MIND

TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025

Disclosure of information to auditor

Each of the Trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

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

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

Dr S Lamerton Trustee (Director) Dated: .........................

Draft Financial Statements at 18 September 2025 at 12:18:06 HEREFORDSHIRE MIND

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2025

The Trustees, who are also the directors of Herefordshire Mind 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:

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.

Draft Financial Statements at 18 September 2025 at 12:18:06 HEREFORDSHIRE MIND

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF HEREFORDSHIRE MIND

Opinion

We have audited the financial statements of Herefordshire Mind (the ‘Charity’) for the year ended 31 March 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including a summary of 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:

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:

Draft Financial Statements at 18 September 2025 at 12:18:06 HEREFORDSHIRE MIND

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

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.

Extent to which the audit was considered capable of detecting irregularities, including fraud

Audit response to risks identified

The information obtained through the assessment to risk procedures is reviewed and the following work undertaken:

It should be noted that Auditing standards limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

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.

Draft Financial Statements at 18 September 2025 at 12:18:06 HEREFORDSHIRE MIND

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

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.

Sarah Morley BA (Hons) ACA (Senior Statutory Auditor) for and on behalf of Kendall Wadley LLP

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

Chartered Accountants Statutory Auditor

Granta Lodge 71 Graham Road Malvern Worcestershire WR14 2JS

Kendall Wadley LLP 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.

Draft Financial Statements at 18 September 2025 at 12:18:06 HEREFORDSHIRE MIND

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

Current financial year
Unrestricted
Unrestricted
Restricted
funds
funds
funds
general
designated
2025
2025
2025
Notes
£
£
£
Income and endowments from:
Donations and legacies
3
27,364
19,612
28,224
Charitable activities
4
801,121
-
-
Other trading activities
5
21,136
-
-
Investments
6
8,589
-
-
Other income
7
39,246
-
-
Total income
897,456
19,612
28,224
Expenditure on:
Raising funds
8
15,961
-
-
Charitable activities
9
878,176
86,004
28,078
Total expenditure
894,137
86,004
28,078
Net income/(expenditure)
3,319
(66,392)
146
Transfers between funds
14
(18,798)
18,798
-
Net movement in funds
12
(15,479)
(47,594)
146
Reconciliation of funds:
Fund balances at 1 April 2024
354,619
218,867
532,015
Fund balances at 31 March 2025
339,140
171,273
532,161		 Total
2025
£
75,200
801,121
21,136
8,589
39,246
945,292
15,961
992,258
1,008,219
(62,927)
-
(62,927)
1,105,501
1,042,574		 Total
2024
£
82,930
687,504
25,956
9,806
22,421
828,617
1,334
964,688
966,022
(137,405)
-
(137,405)
1,242,906
1,105,501

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

Draft Financial Statements at 18 September 2025 at 12:18:06 HEREFORDSHIRE MIND

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

Prior financial year
Unrestricted
Unrestricted
Restricted
funds
funds
funds
general
designated
2024
2024
2024
Notes
£
£
£
Income and endowments from:
Donations and legacies
3
45,075
11,815
26,040
Charitable activities
4
687,504
-
-
Other trading activities
5
25,956
-
-
Investments
6
9,806
-
-
Other income
7
22,421
-
-
Total income
790,762
11,815
26,040
Expenditure on:
Raising funds
8
1,287
-
47
Charitable activities
9
826,425
127,638
10,625
Total expenditure
827,712
127,638
10,672
Net income/(expenditure)
(36,950)
(115,823)
15,368
Transfers between funds
14
(64,049)
91,605
(27,556)
Net movement in funds
12
(100,999)
(24,218)
(12,188)
Reconciliation of funds:
Fund balances at 1 April 2023
455,618
243,085
544,203
Fund balances at 31 March 2024
354,619
218,867
532,015		 Total
2024
£
82,930
687,504
25,956
9,806
22,421
828,617
1,334
964,688
966,022
(137,405)
-
(137,405)
1,242,906
1,105,501

Draft Financial Statements at 18 September 2025 at 12:18:06 HEREFORDSHIRE MIND

BALANCE SHEET

AS AT 31 MARCH 2025

Notes
Fixed assets
Tangible assets
17
Current assets
Debtors
18
Cash at bank and in hand
Creditors: amounts falling due within
one year
19
Net current assets
Total net assets
Income funds
Restricted funds
21
Designated funds
22
Unrestricted funds		 2025
£
£
682,686
68,872
351,044
419,916
(60,028)
359,888
1,042,574
532,161
171,273
339,140
1,042,574		 2024
£
£
703,203
41,730
477,558
519,288
(116,990)
402,298
1,105,501
532,015
218,867
354,619
1,105,501		 2024
£
£
703,203
41,730
477,558
519,288
(116,990)
402,298
1,105,501
532,015
218,867
354,619
1,105,501
1,105,501
532,015
218,867
354,619
1,105,501

Draft Financial Statements at 18 September 2025 at 12:18:06 HEREFORDSHIRE MIND

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2025

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 2025, although an audit has been carried out under section 144 of the Charities Act 2011.

The Trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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.

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

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

Dr S Lamerton Trustee (Director)

Company Registration No. 02339094

Draft Financial Statements at 18 September 2025 at 12:18:06 HEREFORDSHIRE MIND

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025

Notes
Cash flows from operating activities
Cash absorbed by operations
25
Investing activities
Purchase of tangible fixed assets
Interest received
Net cash generated from/(used in)
investing activities
Net cash used in financing activities
Net decrease in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2025
£
£
(133,326)
(1,776)
8,588
6,812
-
(126,514)
477,558
351,044		 2024
£
(42,583)
9,805		 £
(18,107)
(32,778)
-
(50,885)
528,443
477,558

Draft Financial Statements at 18 September 2025 at 12:18:06 HEREFORDSHIRE MIND

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

Company information

Herefordshire Mind is a private company limited by guarantee incorporated in England and Wales (number 02339094) and a charity registered in England and Wales (number 701260).The registered office is Heffernan House, 130-132 Widemarsh Street, Hereford, HR4 9HN.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Charity's Memorandum and Articles of Association, 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)". 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 £.

1.2 Going concern

At the time of approving the accounts, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties about its ability to continue. 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.

Designated funds comprise funds which have been set aside at the discretion of the Trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.

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.

1.4 Incoming resources

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.

1.5 Resources expended

All expenses are accounted for on an accruals basis. Liabilities are recognised when they are incurred.

Costs of generating funds comprise those costs directly attributable to raising funds through activities.

Direct charitable expenditure includes all overhead costs in supporting the direct charitable activities.

Governance costs comprise those costs not already deemed as overhead costs and not associated with achieving the direct charitable activities.

Draft Financial Statements at 18 September 2025 at 12:18:06 HEREFORDSHIRE MIND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

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% or 20% on cost, land is not depreciated Fixtures and fittings 20% on cost Computers 33.33% on cost

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.

The capitalisation policy for additions is £1,000.

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, and other short-term liquid investments with original maturities of three months or less.

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.

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.

Draft Financial Statements at 18 September 2025 at 12:18:06 HEREFORDSHIRE MIND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

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.

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. Such estimates include the establishment of an appropriate depreciation policy in respect of tangible fixed assets to ensure book value is compatible with market value. 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.

Total 2024 £ 82,930
Restricted funds 2024 £ 26,040
Unrestricted funds 2024 £ 11,815
Unrestricted funds general 2024 £ 45,075
Total 2025 £ 75,200
Restricted funds 2025 £ 28,224
Unrestricted Unrestricted funds
funds		 general 2025
2025		 £
£		 27,364
19,612
Donations and legacies Donations and gifts
3

Draft Financial Statements at 18 September 2025 at 12:18:06 HEREFORDSHIRE MIND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

4 Charitable activities

Community
Mental Health
Transformation
Heff
Activities
and Peer
Support
Safe HavenCommunity
Support
Housing
£
£
£
£
Grants/ contracts with
Local Authorities &
Statutory Bodies
Herefordshire NHS CCG
205,026
67,651
154,632
-
Other incoming resources
Supportive housing
-
-
-
223,647
Contributions from
service users
-
-
-
19,721
Room hire
-
-
-
-
Community support
-
-
-
130,444
205,026
67,651
154,632
373,812
Analysis by fund
Unrestricted funds -
general
205,026
67,651
154,632
373,812
205,026
67,651
154,632
373,812
For the year ended 31 March 2024
Unrestricted funds -
general
204,656
10,244
175,320
172,908
204,656
10,244
175,320
172,908		 Total
2025
£
427,309
223,647
19,721
-
130,444
801,121
801,121
801,121		 Total
2024
£
407,320
141,875
13,412
521
124,376
687,504
687,504
687,504
687,504
687,504

5 Activities for generating funds

Fundraising events
Training
Activities for generating funds		 2025
£
15,196
5,940
21,136		 2024
£
14,856
11,100
25,956

All unrestricted activities.

Draft Financial Statements at 18 September 2025 at 12:18:06 HEREFORDSHIRE MIND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

6 Income from investments

7
8		 Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Interest receivable
8,589
9,806
Other income
Unrestricted
Unrestricted
funds
funds
general
general
2025
2024
£
£
Government grants
39,246
22,421
Raising funds
Unrestricted
Restricted
Total
Total
funds
funds
2025
2024
£
£
£
£
Trading costs
Other trading activities
15,961
-
15,961
1,334
15,961
-
15,961
1,334		 Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Interest receivable
8,589
9,806
Other income
Unrestricted
Unrestricted
funds
funds
general
general
2025
2024
£
£
Government grants
39,246
22,421
Raising funds
Unrestricted
Restricted
Total
Total
funds
funds
2025
2024
£
£
£
£
Trading costs
Other trading activities
15,961
-
15,961
1,334
15,961
-
15,961
1,334		 Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Interest receivable
8,589
9,806
Other income
Unrestricted
Unrestricted
funds
funds
general
general
2025
2024
£
£
Government grants
39,246
22,421
Raising funds
Unrestricted
Restricted
Total
Total
funds
funds
2025
2024
£
£
£
£
Trading costs
Other trading activities
15,961
-
15,961
1,334
15,961
-
15,961
1,334		 Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Interest receivable
8,589
9,806
Other income
Unrestricted
Unrestricted
funds
funds
general
general
2025
2024
£
£
Government grants
39,246
22,421
Raising funds
Unrestricted
Restricted
Total
Total
funds
funds
2025
2024
£
£
£
£
Trading costs
Other trading activities
15,961
-
15,961
1,334
15,961
-
15,961
1,334
Total
2024
£
1,334
Raising funds
Unrestricted
Restricted
funds
funds
£
£
Trading costs
Other trading activities
15,961
-
15,961
-		 Total
2025
£
15,961
15,961
1,334
Total
Total		 2025
2024		 £
£		 566,043 573,457 24,303
36,274		 -
968		 -
677		 50,287
79,347		 30,537
28,683		 1,843
1,142		 37,880
21,090		 7,755
3,596		 24,722
18,049		 743,370 763,283 213,920 192,269 34,968
9,136		 992,258 964,688 878,176 826,425 86,004 127,638 28,078
10,625		 992,258 964,688
Safe Haven 2025 £ 141,632 - - - 1,409 8,020 86 500 1,357 2,000 155,004 93,012 15,204 263,220 236,659 26,561 - 263,220
Community Mental Health Transformation 2025 £ 153,679 - - - 5,087 5,313 121 566 1,599 1,844 168,209 - - 168,209 168,209 - - 168,209
Counselling 2025 £ 3,631 - - - 14,203 355 418 24,820 875 10,965 55,267 15,904 2,601 73,772 57,717 16,055 - 73,772
Community/ Supportive Housing 2025 £ 222,044 24,302 - - 19,673 15,550 668 - 3,315 8,251 293,804 84,549 13,821 392,174 371,889 17,853 2,432 392,174
Heff Activities and Peer Support 2025 £ 45,057 - - - 9,916 1,299 550 11,994 609 1,662 71,086 20,455 3,342 94,883 43,702 25,535 25,646 94,883
Charitable activities Staff and agency costs Property Catering/ Consumables Transport Depreciation and other IT costs Postage Sessional staff costs Insurance Direct project expenses Share of support costs (see note 11) Share of governance costs (see note 11) Analysis by fund Unrestricted funds - general Unrestricted funds - designated Restricted funds
9
(Continued) Total 2024 £ 573,457 36,274 968 677 79,347 28,683 1,142 21,090 3,596 18,049 763,283 192,269 9,136 964,688 826,425 127,638 10,625 964,688
EI £ 8,234 - - - 145 178 - - 152 - 8,709 2,194 104 11,007 11,007 - - 11,007
Ukraine £ 5,080 - - - 6,039 - - 8,850 - 937 20,906 5,266 251 26,423 26,423 - - 26,423
Intensive Support/ CST £ 98,396 872 968 - 943 10,110 230 - - 7,543 119,062 29,992 1,425 150,479 149,511 968 - 150,479
Residential Homes £ - 1,362 - - - - - - - - 1,362 343 16 1,721 761 960 - 1,721
Community Support/ Housing
£		 92,272 34,040 - - 21,215 5,423 166 - - 1,707 154,823 38,999 1,853 195,675 173,728 20,240 1,707 195,675
Recovery and Wellbeing £ 369,475 - - 677 51,005 12,972 746 12,240 3,444 7,862 458,421 115,475 5,487 579,383 464,995 105,470 8,918 579,383
Charitable activities For the year ended 31 March 2024 Staff and agency costs Property Catering/ Consumables Transport Depreciation/ Other IT costs Loan interest Sessional staff costs Insurance Direct project expenses Share of support costs (see note 11) Share of governance costs (see note 11) Analysis by fund Unrestricted funds - general Unrestricted funds - designated Restricted funds
9

Draft Financial Statements at 18 September 2025 at 12:18:06 HEREFORDSHIRE MIND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

10 Trustees

No trustees received remuneration or expenses in the year.

11 Support costs

Support
costs
Governance
costs
2025Support costs Governance
costs
£
£
£
£
£
Staff costs
137,000
-
137,000
119,257
-
Property
29,652
-
29,652
31,427
-
Administration
47,270
-
47,270
41,585
-
Audit fees
-
5,460
5,460
-
5,820
Legal and professional
-
26,508
26,508
-
-
Other governance costs
-
2,998
2,998
-
3,315
213,922
34,968
248,888
192,269
9,135
Analysed between
Charitable activities
213,920
34,968
248,888
192,269
9,135
12
Net movement in funds
2025
£
The net movement in funds is stated after charging/(crediting):
Fees payable for the audit of the charity's financial statements
5,460
Depreciation of owned tangible fixed assets
22,293		 2024
£
119,257
31,427
41,585
5,820
-
3,315
201,404
201,404
2024
£
5,820
21,263

13 Taxation

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

14 Transfers

Transfers made from unrestricted funds to designated funds relate to internal recharges or designation of funds as described in the designated funds note.

Draft Financial Statements at 18 September 2025 at 12:18:06 HEREFORDSHIRE MIND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

15 Employees

Number of employees

The average monthly number employees during the year was:

Employment costs
Wages and salaries
Social security costs
Other pension costs		 2025
Number
45
2025
£
669,286
42,279
10,460
722,025		 2024
Number
44
2024
£
633,161
40,076
9,908
683,145

The remuneration of key management personnel is £161,602 (2024: £163,568).

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

16 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.

The charge to the statement of financial activities in respect of defined contribution schemes was £10,460 (2024: £9,908).

Contributions due to the scheme at the balance sheet date are included in creditors and amounted to £2,763 (2024: £2,268).

Draft Financial Statements at 18 September 2025 at 12:18:06 HEREFORDSHIRE MIND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

17
Tangible fixed assets
Freehold land
and buildings
Fixtures and
fittings
Computers
£
£
£
Cost
At 1 April 2024
852,855
82,717
26,442
Additions
-
1,776
-
At 31 March 2025
852,855
84,493
26,442
Depreciation and impairment
At 1 April 2024
211,151
24,597
23,063
Depreciation charged in the year
11,067
9,613
1,613
At 31 March 2025
222,218
34,210
24,676
Carrying amount
At 31 March 2025
630,637
50,283
1,766
At 31 March 2024
641,704
58,120
3,379
18
Debtors
2025
Amounts falling due within one year:
£
Trade debtors
23,424
Other debtors
39,270
Prepayments and accrued income
6,178
68,872
19
Creditors: amounts falling due within one year
2025
Notes
£
Other taxation and social security
8,868
Deferred income
20
16,946
Trade creditors
10,197
Other creditors
2,763
Accruals
21,254
60,028		 Total
£
962,014
1,776
963,790
258,811
22,293
281,104
682,686
703,203
2024
£
31,165
5,369
5,196
41,730
2024
£
10,468
57,865
22,532
2,268
23,857
116,990

Draft Financial Statements at 18 September 2025 at 12:18:06 HEREFORDSHIRE MIND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

20
Deferred income
Other deferred income
Deferred income is included in the financial statements as follows:
Current liabilities		 2025
£
16,946		 2024
£
57,865
16,946
16,946		 57,865
57,865

Deferred income represents amounts received in advance of the provision of services contracted and is released in the subsequent accounting period.

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. Movement in funds
Movement in funds		 Balance at
Incoming
Resources
Transfers
Balance at
Incoming
Resources
Balance at		 1 April 2023
resources
expended
1 April 2024
resources
expended
31 March 2025		 £
£
£
£
£
£
£
£		 HQ Mind Digital Transformation
3,000
-
(3,000)
-
-
-
-
-		 BVS
-
-
-
-
-
3,224
(3,224)
-		 Bulmers
-
-
-
-
-
5,000
-
5,000		 Heffernan Screw Fix
2,583
-
(1,000)
-
1,583
-
(1,000)
583		 WR Barrolls
204
-
(204)
-
-
-
-
-		 Housing Corp
100,612
-
(740)
-
99,872
-
(740)
99,132		 Original Fund
191,693
-
(1,430)
-
190,263
-
(1,430)
188,833		 Ferncroft Property BMA
31,201
27,556
(262)
(27,556)
30,939
-
(262)
30,677		 DC HF Property BMA
210,780
-
(1,422)
-
209,358
-
(1,422)
207,936		 Evesons Counselling
-
-
-
-
-
20,000
(20,000)
-		 Community First Recovery College
2,030
-
(2,030)
-
-
-
-
-		 Community First Active
2,100
(1,516)
(584)
-
-
-		 544,203
26,040
(10,672)
(27,556)
532,015
28,224
(28,078)
532,161
21

Draft Financial Statements at 18 September 2025 at 12:18:06 HEREFORDSHIRE MIND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

22 Designated 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.

Movement in funds Movement in funds Movement in funds
Balance at 1 Incoming Resources Transfers Balance at 31 March
April 2024 resources expended 2025
£ £ £ £ £
Peer Support Group 11,013 17,425 (9,195) - 19,243
Heffernan Activities 1,560 - (10,322) 9,399 637
Ferncroft 49,854 - (6,673) - 43,181
Heffernan/Safe Haven 84,707 - (26,561) - 58,146
Shires Property 18,336 - (1,296) (17,040) -
Organisation Training 4,661 - (1,116) - 3,545
CMHT 7,349 - - - 7,349
CIM - 187 (24,280) 26,439 2,346
CST - 2,000 - - 2,000
Organisation IT upgrade 2,856 - (1,099) - 1,757
Garden Room 2/3 37,098 - (4,029) - 33,069
Go with the Flow 1,433 - (1,433) - -
218,867 19,612 (86,004) 18,798 171,273
Movement in funds
Balance at 1 Incoming Resources Transfers Balance at 31 March
April 2023 resources expended 2024
£ £ £ £ £
Peer Support Group - 11,213 (200) - 11,013
Heffernan Activities - - (14,228) 15,788 1,560
Ferncroft 35,180 - (17,753) 32,427 49,854
Heffernan/Safe Haven 107,888 600 (20,995) (2,786) 84,707
Shires Property 19,296 - (960) - 18,336
Organisation Training 10,415 - (5,754) - 4,661
CMHT 38,717 - (31,368) - 7,349
CIM - - (26,046) 26,046 -
Organisaton IT upgrade 10,000 - (7,144) - 2,856
Garden room 20,158 - (3,190) 20,130 37,098
Go with the Flow 1,431 2 - - 1,433
243,085 11,815 (127,638) 91,605 218,867

Draft Financial Statements at 18 September 2025 at 12:18:06 HEREFORDSHIRE MIND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

22 Designated funds

(Continued)

Heffernan Activity fund will be used towards the cost of running activities at Heffernan House which are not funded from any other grants.

Ferncroft fund will be used to improve the property and support the tenants (for example with emergency supplies).

Heffernan/Safe Haven fund will be used to improve the environment at Heffernan House for clients accessing our Safe Haven service and other activities.

Shires Property - funds set aside for the closure of the Shires. This fund has been closed and transferred to counselling.

Organisation Training - Young People funds re-designated for training.

CMHT - This represents the prior year surplus.

CIM - This represents the prior year surplus from general unrestricted funds.

CST - This was a donation from a client's family.

Organisation IT upgrade - For IT improvements.

Garden Room - Legacy funding received, designated to the cost of purchasing and constructing a garden room, enabling extra space for counselling and private meetings with clients.

Go With The Flow - Designated fundraising to carry out garden improvements in memory of a late member of staff.

Total 2024 £ 703,203 402,298 1,105,501
Restricted 2024 £ 532,015 - 532,015
Designated 2024 £ 61,560 157,307 218,867
Unrestricted 2024 £ 109,628 244,991 354,619
Total 2025 £ 682,686 359,888 1,042,574
Restricted 2025 £ 532,161 - 532,161
Designated 2025 £ 51,783 119,490 171,273
Unrestricted 2025 £ 98,742 240,398 339,140
Analysis of net assets between funds Fund balances at 31 March 2025 are represented by: Tangible assets Current assets/(liabilities)
23

Draft Financial Statements at 18 September 2025 at 12:18:06 HEREFORDSHIRE MIND

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

24 Related party transactions

Transactions with related parties

There were no related party transactions during the year.

25 Cash generated from operations 2025 2024
£ £
Deficit for the year (62,927) (137,405)
Adjustments for:
Investment income recognised in statement of financial activities (8,589) (9,806)
Depreciation 22,294 21,263
Donation in kind - (27,556)
Movements in working capital:
(Increase)/decrease in debtors (27,142) 116,053
(Decrease)/increase in creditors (16,043) 16,076
(Decrease)/increase in deferred income (40,919) 3,268
Cash absorbed by operations (133,326) (18,107)