COMPANY REGISTRATION NUMBER: N1672078 CHARITY REGISTRATION NUMBER: 108816 Fresh Minds Education Ltd Company Limited by Guarantee Unaudited Financial Stataments 31 July 2023 D C CORR AND COMPANY Chartered accountsnts 29B Main Street Randalstown Gounty Antnm BT413AB
Fresh Minds Education Ltd Company Limited by Guarantee Financial Statements Year ended 31 July 2023 Page Trustees, annual report (incorporating the directorfs report) Independent examinevs report to the trustees Statement of financial activities {including income and expenditure account) Statement of financial position Statement of cash flows 10 Notes to the financial statemcnts 11
Fresh Minds Education Ltd Company Limited by Guarantee Trustees, Annual Report (Incorporating the Directorfs Report) Year ended 31 July 2023 The trustees, who are also the directors for the purposes of company law, present their port and the unaudited tinancial statements of Ihe chanty for the year ended 31 July 2023. Reference and administrative details Registered charity namè Fresh Minds Education Ltd Charty registration number 108816 Company registration number N1672078 Principal office and registeTed Unit 5 Antrim Enterpri¥e Centre office Greystone Road Antrim BT41 1JZ Thè trust@Ès MrA Wallace Ms A M Allenby MrDJFÈa Independent examlner Derniot Corr 29B Main Street Randalstown County Antrim BT413AB Structure, govemance and management Fregh Minds Education is a company limitgd (N1672078) by guarantee and govemed by its articles of association which were adopted 26th Aug 2020. 11 is reLogiiisEd as a charity by HMRC, charity number 108816 Objectives and activities The Charity's ODiects are specifically restricted to the following.. 4.1.1. the advancement of health and saving of lives by the promotion, preservation, protection and safeguarding of mental and physical wellbeing of children, young people and adults and reduGing the impact ot trauma- 4.1.2. the advancement of education relating to heafth and W11belng. and 4.1.3. such other exclusively Charitsble purpose according to the law of Northem Ireland as the Trustees may from time to time decide.
Fresh Minds Education Ltd Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) fconthued) Year ended 31 July 2023 Achievements and perforniance Achievement and Performance This year has seen FME working hard to.. Create new opportuntties. Consolidate established areas of work Meet new and existing need Miliydte the irnpact of the 2020 pandemlc. anij other soclotheconomic faaors. FME is delighted to report Ihat all key areas have seen expansion, wth new partnerships being established, and continuing interaction with childrentyoung paopla, famili¢$, professionals and the local community. 1. Bereavemenl Support for famllles Let's GROW Together (LGT) is a tier 2 bereavement support intervention for parents and children. which was promoted by thc Dcpartment of Health to support 19 families and engage up to 20 people in learning the LGT melhodology across the ANBC and Mid Ulster local authority areas. The LGT model allows practitioners to integrate the intprvp_ntion tephniques into their work with children and parents. Results ISDQ & TOPSE} are showing positive impact on the mental health and wellbeing of both participating children an¢J parents. This acnievemeni has been a continuation of Ihe pilot LGT programme delivered across the Northern Hpallh TrLlSt, supportèd by the HSCNI. Causeway Coast GP Federation and Impact Nl, that engaged over 20 families to make an initial assessment of the itnpact of the methodology. 2 Re4ilig.ncp. Academy FME'S Rcsilience A¢ademy 13 a ¥eries of earty intervention programmes infrnded to ptomote the emolional resilience OT both young and olij. These programmes aim to develop self-awareness and confidence in the participants through imp2rting new knnwlp.dge and skills. wth the intended outcomé bging to prevent the development of more serious and entrenched mental and emotional health oriditlDns in individuals. Generation Thrive, is tho bannor ft>r FME'S programmes that engage th children and young people and continues tQ go froin stsenylli ID Strength wtth new programmes belng (ieveloped within this period. Fresh Little Minds - SUNRISE has been developed as a new children's reqilip.nre rAJrriciilum with an innovat9 Online platfomi. It has been delivered to 14 schools in the Clens 8r¢a¥ as part of the Heafthy Places 2 PiojeGt with North Anttitn Communty Neork. Thls Impact of this has t)een measured (300+ childn) and evaluated by QUB. using a recognised measurement tool {KID streen) and is demonstrating positive impact on particip2lin9 ¢hildren's mental health and wellbcing. Education professionals have also respoiided well lu the approach, methodologies, and resources includea in Ihe programme. using them repeated across year groups. A further six primary schoo18 funded by RTE Toy Show (CFNII will begin delivery of FLM Sunrise later in 2023. Fresh Little Miiidb GROW continue5 to be Uellvered t)y FME associaie practs-iioners across both Mid Ulster and the North-west. reaching children from rural and urban primary schools The programme succassfvlly provide8 a fvn, interactive curriculum of classroom-ba$ed aGtivitie3 which can be delivered by eithei sGhool staff or facilitators. It has been well received by schools and community organisations across the region. with a waib'ng list operating for subsidi*pd programmes. Lost Voices.. FME was succtss5fv1 in securing support froin the Children in Need YDUth Social A¢lion lund and Arts Gouncil Northem Ireland to develop Ihe work rt conducts ¢¢iproducing and co4esigning prajprts with and for young people. to present their voic8 on mantsl health is8uee. This year saw FME recruit a young perJon3' Lost Voices Steering Group. The steering group worked willi uther young people In the community, delivering a range of engagement activities and resources with and for
Fresh Minds Education Ltd Cotnpany Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) {contynued) Year ended 31 July 2023 young people, exploring the themes of bereavement, suicide, grief and105s. It is important to nole that Ihis engagement programme has led to young people tomiing an aavisory commrttee for FME np9_r2ti(JnAI And Ip_8rlp.rship teams. by bLJilding in young pèoplès, VDices and representation across the organisation. The AMBER Approach to resilience is a programme which can be used by community groups, education professionals and in family settings. This year the programme has been delivered to 14 primary school teachers to help provide them wrth a proven user-friendly resilience methodology that can be integrated into cla¥$rooms and across a variety of school and Gommunity settings. 3. Suicide Prevention Programme Connections Link Lif& Suicide Awareness Training continues to be supported by thc PHA in providing the opportunity for 9roups and iwidividud15 in the NHSCT to access this training. This programme continues to be one of the few suicide prevention training programmes devised in Nl that is approved by the PHA and able to be delivered onlinelvirtually. or in person. Operation Link Life Sulclde Awareness Tralning was aeveioped alongside tr)e Veteran Gommissioner for Northem Ireland. Northem Ireland Veterans Support Officp. And *iJpported by Inspire Wellbeing. This uÈed the Connection Link knfe methodologies alongside new video content from veterans and their familie5 to tailor the programme to be delivered to Ihis audien. Connection Link Life T4T training shows continued demand, wth people trained to deliver thp. prngrammp to oiir communities across the public, private and 3rd sectors. This programme accepts 3Ultable applicants to receive training and sUPPOrt in the Connecl]ons Llnk Llfe curriculum. inclu¢Jing the Connea 4-Way InteNentson Model and how to prepare. set up and deliver onlinp. and in pe.r4on 4. Community Connection The charity has built on the success of rts new premises. The Heartspace at Antrim Enterprise Agency is 2 communty vg.niAg. which can facilitate programmes. hogt project partnership meetings and regional govcrnan¢e meeting3 (Suicide Prevention) School Bag Appeal.. This community connection programme was facilitated with donations for school bags, equipment and stakn'ongry from across the communty and offered to families who quir¢d SUPPOrt due to econoinic and bVGldl circutn5tance5. Over 300 bags were distribule¢J across all regions of Northem Ireland. Future Screen Northem Ireland.. FME worked with a researcher from Ulsler University and FIiLkerpix, a local meaia production company to develop a short onginal piece of animated film based on introducing The AMBER Approach to r@#ilience in the classroom. This will form J new body of work that will focus on thc ¢ompany delivering programmes that eduGate and infom h¢)w individuals, groups and organisation5 can use The AMBER Approach wilhin their work and personal lives. It also highlighls continued technological progress in how FME re.ar.hps out to mgk@ tho community aware of itg work and curriculums.
Fresh Minds Education Ltd Company Limited by Guarantee Trustees, Annual Report (Incorporating the DirectOS Report) (ronbnued) Year ended 31 July 2023 Financial review Income has increased from last financial year lo £253.412. This has been achieved by the Board and Senior Management Team investing time and energy into securing new partnerships. new funding and maintaining the standard of existing contacts and services. The funding and Income landscape continues to be Inlluence¢J by global and national events, and this environmènt requires the organisation to be flexible in prioritising programmes and adapting methods of delivery to continue to meet need and its objectives. The increase in the cost of living has made an impact on the operational costs of the organisation and its services, which it continues to manage, reducing costs and innovatin9 where necessary. Both the level of activities an¢J the year end financial posr(ion were considered satisfactory. The directors expect that income to increase in the year to 31 July 2024 and this will be maintained for the forcsccablc futurc. I ne Statement of Financial Actrvrties shows a net decrease in Unrestricted Funds of £5.250 and a net incre8sÈ in Restrict Funds of £24.844 The Cornpany had Total Charity Funds of £120,048 as at 31 July 2Q23. Small company provisions Thls report has been prepared in accordan WUI Ihe provisions applicable to companies entitled to the small companies exemptinn. The Iruslees. aiinual repuil was apPVe on 29 April 2024 and Signed on behalf of the board of trustees by.. Mr A Wallace Truslee
Fresh Minds Education Ltd Company Limited by Guarantee Independent Examinerfs Report to the Trustees of Fresh Minds Education Ltd Year ended 31 July 2023 I report to Ihe trustees on my examination of the financial statements of Fresh Minds Education Ltd ('the chanty.) for tne year enuea J1 July 2U23. Responsibilities and basis of report As ihe trusiees of Ihe company {an¢J also rts Uirectors for the purposes of company kw) you are responsible for the preparation of the financi81 statement# in accordance wth the requirements of Charities Act (Northem Ireland) 2008 {thc '2008 Act'} and the Companies Act 2006 ('the 2006 Act'l. You are satisfied that the accounts of the company are not required by charity or company law to be audited and have chosen instead to have 3n indg_pg.ndpnt p_xaminatinn Having satisfied niyself Ihal Ilie (ICLounts of the cornpany are not required to be audiled under Part 16 of the 2006 Act and are eligible for independent examination. l pOrt in respect of my examination of the charty's financial statements as carried out under se¢tion 65 of the 2008 Act. In carrying Out my exaiTiinalioTI l Fiave fvlluwed Ihe general Dire105 given by the Charity Cotnmi55ion for Northern Ireland under section 651911bl of the 2008 Act. Independent examine3 statement Since the charity's qross income exceeded £250.000 your examiner must be a member of a body listèd in section 65 of the 2008 Act. I confimi that l am qualifièd to undertake the examination because l am a member o* Chartered Accountants Ireland, whiGh 15 one of the listed bodies. I have completed my examination. I confimi that no matters h2ve come to my att@ntinn in connection with my examination giving me ¢ause to believe that in any material respect.. accounting records were not kept in respect of the charty as required by section 386 of the 2006 Act.. or the )Inanclal siatemenis do not accor¢ with those records" or the financial statements do not comply vmth the accounting requirements of s•ction 396 of the 2006 Act other than any requirement that the accounts give a 'true and fairf view which Is not a matter considered as part of an independent examination.. or the financial statements havc not been prepared in accordance wth the methods and principle5 of the Stalement of Recommended Praciice for accounting and reporting by charities applicable to charibes preparing their 2ccountq in ace.nrd8ncÉ with the Financial Reportin9 Standard applicable in the UK and Republic of Ireland {FRS 1021.
Fresh Minds Education Ltd Company Limited by Guarantee Independent Examiner's Report to the Trustees of Fresh Minds Education Ltd (continu Year ended 31 July 2023 I confiitn that theie ale no othei tnatters to vthiGh your attention shguld bc ¢Jrawn to cnablc d propci understanding of theiccounts to be reached. Fcll Dermot Corr Independent Examiner 29B Main Street Randalgtown Counly Antrim BT413AB 29 Apr 2024
Fresh Minds Education Ltd Cotnpany Litnited by Guarantee Statement of Financial Activities {including income and expenditure account) Year ended 31 July 2023 Period from 1 4)ep 21 to 31 Jul 22 Year to 31 Jul 23 Unrestricted Resth"cted funds nds Total funds Total fvnds Noie Incom8 and endowments Donations and legactes Charitable aclivtties Other trading activities Total income 2,000 145.825 105,587 107,587 145.825 50,886 184,202 147.825 105.587 253.412 235,088 Expgnditure Expenditure on raisiny fuiiLI5. Costs of charitablelother trading activitie8 Taxation 153,075 80,743 233,817 193,700 6,879 200,b19 Total expenditure 153.075 80,743 233,817 Net Income and net movement in funds 15,250) 24,844 19,595 34,509 Reconciliation of funds Total fvnds brought foThYard Total funds carried forward 100,454 100,454 65,945 24,844 120,048 100.454 I he statement ot hnancial actwrties Includes all gains and losses recognised in the year. All income and expenditure derive from continuing adiviti88. The note3 on pages 11 to 20 forni part of these finan¢i•l $tstements.
Fresh Minds Education Ltd Company Limited by Guarantee ststement of Financial Position 31 July 2023 2023 2022 No Fixed assets Tangible fixed assets 14 9.328 7.080 Current assets Stocks Deblors Cash at bank and in hand 15 18 23.957 33.603 94.604 10.000 62.942 71,366 152,164 144.308 CreditorJ- amounts falling due within one year Npt Gurrent a55Ets 17 32,122 120,042 107,781 Totsl assets less current Ilabllltles 129,370 114,861 Croditors: amounts falling dua aftor morè than onè yoar Not assets 18 9,322 14,407 120.048 100,454 Funds of the charlty Restricted funds Unre8tricted fund8 24.844 95,204 100,464 Total charity funds 19 120,048 100,454 For the year endlng 31 Juty 2023 the charty entlued to exemption from audlt under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities-. The members have not requirèd the company to obtain an audit of its financial statements for the year in question in accordance with seGlion 476- The directorg geknowl@dge their responsibilities for complying Wth the requirements of the Act with re¥pe¢t to 8c¢ounting records and the preparation of financial statemenls. These finanaal statements have been prepared in accordan with the provisions applicable lo companies subject to the gmall companies, re9ime. The statement of financial position continues on the following page. Th• not•s on pagos 11 to 20 forni part of tho$0 finan¢ial statsments.
Fresh Minds Education Ltd Company Limited by Guarantee Statement of Financial Position (Conllnued) 31 July 2023 These financial ststements were approved by the board of trustees and authorised for issue on 29 Apr 24, ana are gneo on behalf of ihe rjoaro Dy.. Mr A Walla Trustee The notss on pages 11 to 20 fomi part of these financiol ¥tst¢ments.
Fresh Minds Education Ltd Company Limited by Guarantee Statement of Cash FIOWE Year ended 31 July 2023 2023 2022 Cash flows from operating activities Net income 19.595 34.509 AUJUStmenÉs for.. Deprer.i2tion nf t2ngihlp_ fixed as#ets Interest payable and 3imilar charges Taxation Accnie.d income 2,948 6.385 1.590 4,078 6.879 {1,065) {547) Changes in." Stocks Trade and olher debto Tioide diid other Greditor5 (13,958) 29,339 {3,729) 40,033 1.000 11,182 (14,874) 43,299 Cash generated from operations Interest paid Tax Ipaid)Ireceived Net Gabli fiotn operating acknvities {6,385) (129) 33,519 (4,078) 755 39,976 Cash flows from investing activities Purchase of tangiblg assets Nct cash used in investing activtbe¥ (5,196) (5,19G) (5,210) (a,210) Cash flov from Ilnanclng acuvlues Proceeds from borrowings Net cash used in financing activttiÈs (5,085) {4.661) {4.661) (5,085) Net increase in cash and cash equivalents Cash and cash equivalents at beginning of year ash and cash equivalents at end of year 23,238 71,366 41,261 94.604 71,366 The notes on Pa9 11 to 20 forni part of those financial slatements. 10
Fresh Minds Education Ltd Company Limited by Guarantee Notes to the Financial Statements Year ended 31 July 2023 General inforniation The charity is a public benefit entity and a private company limited by guarantee. registered in Northem Ireland and a registered charty in Northem Ireland. The address of the registered offi is Unit 5 Antrim Enterprise Centre. Greystone Road, Antrim, BT41 1JZ. Statement of eomplianca These financial stalements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,. the Statement of Recommended Practice applicablo to charities preparing their accounts in accordance with the Financial Reporling Sldnd*41d applicable in the UK and Republic of Ireland (FRS 1021 (Charitie5 SORP IFRS 102)) and the Companies Act 2006. Accounting poliGie5 Basis of preparation The financial Jtatement¥ have been prepared on the historical cost ba315, as modified by the revaluatlon of certain financial assets an¢J liabilrties and investmeni properties measurea al fair Value through income or expenditure The financial statements are prepaied in steiling, whtch is the funGtionJl Gurrency Df ihe entity. Going eoncorn There are no material UnrtaIntieS about the charlly's abllty to Contlnue. Judgemèntg and k•y sourc•s of •stimation uncèrtainty Tlie pieparation of the financial statemenls requlres management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continualty reviewed and aro baged on exparian¢9 and other factors, including expectations of future event5 that are belEved to be teasonable under the GirGumslaiices. Income tax The taxation expensc represents the ag9re9ale aniount of Guirent and deferred tax recognised in the reporting period. Current tax i¥ recognised on taxable inGome or expenditure for the current and past Peric5. current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that hgve been enacted or substantively enacted at the reporbng date. Deferied tdx IS rerogriised in respect of all timing ¢Jffferences ai the reporting date. Unreiieveo tsx losses and other deferred lax assets are recognised to the extent that tt is probable that they will be recovered against the revergal of deferrod tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws ili¢lt Iicive been enaGie(J DI substantively enacied Oy the reporbnq date that are expected to apply to the reversal of the timing difference. 11
Fresh Minds Education Ltd Company Limited by Guarantee Notes to the Financial Statements (¢onthue¢l) Year ended 31 July 2023 Accounting policies (Gonlinued) Foreign currencies Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the statement of financial activities. Fund accounting Unrestricted funds are available for use at the di5Gretion of the tru5tee5 to fvrther any of the charity's purposes. De3i9n8ted funds are unrestricted funds eamarked by the trustees for particular fijture project or commitment. Rostrictgd fvnds are subjected to restrictions on their expendrf(ure declared by the donor or throu9h the teims of an appeal, drill Idll iiitu Diie of tWD sub-Gla55es. restriGled inGome fund5 gr endowment funds. Incoming resources All Incoming resources are included in the statement of financial activrties when entitlement has passed to the charity.. it is probable that the economic benefits associated with the transaction will flow to the charty and the amount can be reliably measured. The followng specific policies are applied to partjcular categones of income- income from donations or grants is recognised when therc is evidenGe of entitlement to the gift, receipi is Pfobable and Its amount can r)e measured reliably. Icgacy income is reco9nised when receipt 13 probable and entttlement is e3tablished. income from donated goods is measured at the fair value of the goods unless this is impractical to measurè roliably, in which case th9 value is derived from the cost to the donor or the estimated resale value. Donaled facilitieb and seivibes Lire iewyiiised in tlie accounts when received if Ihe value can be reliably measured. No amounts are included for the contribution of general voluntèers. Income from contracts for the supply of services is recognised wth the deltvery of the contracted service. This is classifi•d as unrestrieted funds unlass thora is a contractual requirement for tt to be spent on a patticular purpose and returned if unspent, in which case rt may be reqarded as restncted. 12
Fresh Minds Education Ltd Company Limited by Guarantee Notes to the Financial Ststements (¢onLlmiedJ Year ended 31 July 2023 Accounting policies (contsnuedj Resources expended Expenditure is recognised on an accruals basis as a liabilty is incurred. Expenditure includes any VAT which cannot be tully recovered. and is classified under headings of the statement of fin2nci212Ctivities to which it relates.. expendtture on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities. and the sale of don2tp_d ooods expendtture on cliaritable dctivitie5 include5 all cost5 incurre¢J by a charty in undertaking actsvities that further its charitable aims for the benefit of rts beneficiaries, including t1705e support costs and costs relating to the govemance of the charity apportioned to charitable aGtivtLtes. other expendituré includes all expenditure that is neither relatcd to raising funds for the charity nor part of ils expeiiditure on charitable activities. All costs arè allocated to È¥pp.nditiirp catogories reflecting the use of the resource. Dirèd costs attributable to a single activity are allocated directly to that activity- Shared costs are apportioned between IIIE aGtivilies they contribute io on a reasonaDie. iusiifiable ana consislent basis. TangiblÈ assets Tangible assels dre initially recorded at cost, and subsequently ststed at cost less any accumulated depreciab'on and impairment losses. Any t2ngihlp assets carrièd at revalued amounts arg recorded at the fair valL5¢ at the date of revaluation less any subsequent accuiiiulated depreciation and subsequent accumulated impaimient losses. An increa>è in the carrying amount of an asset as a result of a rcvaluation, is recognised in other recognised gains and 10sses, uiile>5 tt iever5es a charge for impalrmeni that has previously been recognised as expenditure within the statement of financial acb'vities. A decrease in the carrying amoLint of 2n asset as a result of rgvaluation. ie recognised in other recognised gain3 and losse¥, except to which it offset5 any previous revaluation 9aiii. iwi which rase the loss is shown wllhln other recognised gains and losses on the statement of financial activities. Dopreciation Deprecialion Is calculated so as io write off the cost or valuation of an asset. less its residual value. over the useful econnmir. life of that asset as follows.. Equipment 25% straighl Ilne Impairm8nt of fixed assets A ievicw for indicators of Impaimient is camed out at each reporting date. with the recoverable amount being estimated where such IndirlOrS exist. Where the carying value exceeds th8 recoverable amount. the asset is impaired accordingly. Prior impaiments are also feviewed for Possible reversal dl each reporting date. 13
Fresh Minds Education Ltd Company Limited by Guarantee Notes to the Financial Ststsments Icontlnued) Year ended 31 July 2023 Accounting policies (¢tintinuedJ Impairnient of fixed assets (continued) For the purposes of impairnient testing, when it is not possible to estimate the recoverable amount ot an Individual asset, an estimate Is made ot the re¢overable amount ot the cash_generating unit to which the asset belongs. The cash-generating unit is thè smallest identifiable group of a55ets that includes the asset and generates cash infiows that largely independent of the cash inllows from other assets or groups of assets. For impairment testin9 of 9oodwill, the 9oodwill a¢quired in a business ¢ombination is, from the acquisition dale, allocated lo each of Ihe cash%eneraling uni15 that are expected lo benefit frotn the synergies of the combination. ieSpeCtive of whether other assets or liabilities of the charity ara assigned to those units. Stocks StoGks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cosl includes all costs of purchase, costs of converslon and other costs Incurred In brlnglng the stock to its present location and condition. FirkanGial instruments A financial asset or a financial li8bility is recoonised only when the charity becomes a p8ty to the contractual provisions of the instrument. Elasic financial Instruments are Inrtially recognise(l at the amount receival)le or payable Inclu(Jing any related tr3ns3ction costs Cuirent a55e15 Gurtent liabilities are 5ub5equently measured at the Ga5h or other consideration expected to be paid or reiVed and not discounted. Debt instruments are subsequently measured at amortised cost. ere investments in shares are publicly traded or their f2ir value can otherwise be measured reliably, the investment is subsequently measured at fair value wth changes in fair value recogni5ed in income and expendf(ure. All other such investrnents are subsequently measured at cost less impairment. Other financial instruments, including derrvatr¥es, are initially recognised at fair value, unless paymeni for an asset Is deferred beyono normal business tems or financed al a rate of Interesl that iq nol A mArko.I ralo_. in which case the asset is measured 3t the present value of the ftiture payments discounted at a market rate of intere¥t for a similar debt in¥trument. Other financial instruments are subsequently measured at fair value. with any changes recognised in the statement of finanGial activities, with the exception of hedging instruments in a designated hedging relationship. Financial agsetg that are meagured at cost or amortised cost are reviewed for objectiv• avidenc• of impaimienl at the end of each reporting date. If there is objeGlive evidence of inipairmeiit, an Impairment loss Is recognised under the appropn.ate headinq in the statement of financial activities in which the initial gain wag recognised. 14
Fresh Minds Education Ltd Company Limited by Guarantee Notes to the Financial Statements l¢ontinu¢d) Year ended 31 July 2023 A¢counting policies (conbnuedj Financial instrnments (continuerfj For all equty instruments regardless of significance. and other financial assets that are Indlvldually signiflcant, Ihese are assessed individually for impairment. Olher financial assets a either assessed individually nr gmilped on the basis of similar credit risk characteristics Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would havo been had the impaimient nol previousty been recognised. Limrted by guarantee Tho company 16 limited by guarantee. The liabilty of each member is limited to £1, being the amouiit eacli membvi uridErtdkes tD conln.bule to the assets of the Company in the event of its being wound up while he or she is a member or wrthin one year after he or she ceases to be a member. for: payment of the Company's debts and IiabilrtEs contracted before he or she ceases to be a mp.mber payment of the c05t5. charges and expense5 of wtnding up- anij - adjiistment of thè rights of the contributories among themgelvég. Donats"ons and legacies Unrestricted Fund5 RestrrGted Total Funds Fund5 2023 Grants Grants receivable 2,000 105,587 107,587 Unrestricted Funds Restricted Total Funds Funds 2022 Grants Grants receivable 50,886 50,886 Charitsble aGlivities Unrestricted Total Funds Unrestricted Total Fijndg Funds 2023 Funds 2022 Other income from charitable activities 145.825 145,825 15
Fresh Minds Education Ltd Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 July 2023 Other trading activities Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Non-chantable trading 184,202 184,202 Costs of charitablelother trading activities Unrestncted Funds Restricted Total Funds Funds 2023 Costs of Charitable activities 153,075 80.743 233,817 Unrestricted Funds Restricted Total Funds Fundg 2022 Costs of other trading activities- Operating trading company 193,700 193,700 Taxation Major componÈnts of tsx oxpenso Pemod from Yearto 1 Sep 21 to 31 Jul 23 31 Jul 22 Current tsx: UK current tax expense 6,879 Taxation 6,879 ReGonGiliation of tax expense The tax assessed on the income for the yèar is the same as12022: lower than) the standard rato of corporation tax in the UK of O%12022.' 19%). Period from Yèarto 1 Sep 21 to 31 Jul 23 31 Jul 22 Income before taxation 19,595 41.388 Income by rate of tax EffeGI of Eapital allowances and depreciation Tax on income 7,864 985 8.849 16
Fresh Minds Education Ltd Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 July 2023 10. Net income Nel income is stated after charoingl(crediting)- 2023 2022 Depreciation of tsngible fixed assets Forei9n exchange differences 2,948 239 1,590 219 11. Independent examinalion fees Period from Year to 1 Sep 21 to 31 Jul 23 31 Jul 22 rees payable to the independent examiner for.. Indepenaent examinatson of the financial statements 1,250 12. Staff costs The total staff costs and employ¢e ben¢fits for Ihc reporbng period ale analysed as follows." Penod from Yearto 1 Sep 21 to 31 Jul 23 31 Jul 22 Wages and salaries 30,034 24,188 The average head count of employees during the year was 3 (2022.. 4>. The average number of full-lime equivalent employees dunng the year Is analysed as follows-. 2023 2022 Core Staff No employee received employee beneffts of more than £60,000 dunno the year {2022'. Nil). 13. Trustee remuneration and expense5 The Triistee Mr A Wall8ce r@ceivÈd rÈmunÈration and Èxpenses totalling £13.250 during the year. 17
Fresh Minds Education Ltd Company Limited by Guarantee Notes to the Financial Statements (¢ortlimiedJ Year ended 31 July 2023 14. Tangible fixed assets Equipmènt Cost At 1 August 2022 Additions 9,170 5,196 At 31 July 2023 14,366 Depreciation At 1 Augusi 2022 fhgrge for the yegr At 31 July 2023 Carrying amount At 31 July 2023 At 31 July 2022 2,090 5,038 9.328 7.080 15. Stocks 2023 2022 Raw materials and consumables 23,957 10,000 18. Debtors 2023 2022 Trade debtors Prepayménts 2nd accrued income Other debtors 24,369 174 9,040 25,223 1,920 35,799 33,603 62,942 17. Creditors: amounts falling due within one year 2023 2022 Bank loans and overdrafts Trade credrtors Accruals and deferred Income Corporation tax Social security and other taxes 5,085 402 1,522 22.162 2,951 5.085 6,423 2,069 22,291 659 32,122 36,527 18
Fresh Minds Education Ltd Company Limited by Guarantee Notes to the Financial Ststements {conlinu•dJ Year ended 31 July 2023 18. Creditors: amounts falling due after more than one year 2023 2022 Bank loans and overdraft5 9,322 14,407 19. Analysis of charitable funds Unre5triGted fund5 At 1 August 202 At Income Expenditure 31 July 2023 General funds 100,454 147,825 (1 $3,075) 95,204 At 1 September 2021 At Incom8 Expenditur8 31 July 2022 General lunds 65.945 235.088 {200.579) 100.454 Restricted fiinds At l August 202 At Incm. Expenditiirp. 31 July 2023 Restrlcted Fun(Js 105,587 (80,T43) 24,844 At 1 September 2021 At Income Expen¢Jiture 31 July 2022 Restricted Funds 19
Fresh Minds Education Ltd Company Limited by Guarantee Notes to the Financial Statements (conlinuerfj Year ended 31 July 2023 20. Analysis of net assets between funds Unrestricted Total Funds Funds 2023 Tangible fixed assets C.Iirrp_nt 98qPtg Creditors le¥¥ than 1 year Creditors greater than 1 year Net assets 9.328 152,165 (32,122) (9,322) 120.049 9.328 152,165 {32,122} 19,322} 120,049 Unrestricted Total Funds Funds 2022 Tangible fixed assets Current assets Lreditors less than 1 year Creditors greater than 1 year N•t as80tg 7,080 144,308 136.5271 114,407) 100,454 7,080 144,308 (36,5271 (14,407) 100,464 21. Analysis ol Changes iii net debt At At 1 Aug 2022 Cash flows 31 Jul 2023 Cash at bank and in hand Debt due wthin one year Debt due alki one yeai 71.366 (5.085) {14,407) 51,874 23,238 15,0851 19.3221 80,197 5,085 28,323 20