COMPANY REGISTRATION NUMBER= N1672078 CHARITY REGISTRATION NUMBER: 108816 Fresh Minds Education Ltd Company Limited by Guarantee Unaudited Financial Statements 31 July 2024 D C CORR AND COMPANY Charterett accountants 29B Main Street Randalstown County Antrim BT413AB
Fresh Minds Education Ltd Company Limited by Guarantee Financial Statements Year ended 31 July 2024 Page Trustees, annual report (incorporating the director's report) Independent examinerfs report to the trustees Statement of financial activities (including income and expenditure aGcount} Stat8ment of financial position Statement of cash flows Notes to the financial st2temp.nts 10
Fresh Minds Education Ltd Company Limited by Guarantee Trustees. Annual Report (Incorporatlng the Dlrectofs Report) Year ended 31 July 2024 The trustees, who are also the directors for the purposes of company law. present Iheir report and the unaudit9d financial statomgnts of the charity for tho year ended 31 July 2024. Reference and adrninistrative details Registered charity name Fresh Minds Education Ltd Charity registration number 108816 Gompany registration number N1672078 Principal office and registered UnÈt 5 Anlrim Enterprise Centre office Grey5tone Road Antrim BT41 1JZ The trustees Mr A Wallace Ms A M Allenby MrDJFee Independent examiner Dermol Cofr 29B Main Street Randalstown County Antrim BT413AB Structure, governance and management Fresh Minds Education i- a company limitcd IN16720781 by guarantcc and govcmcd by its articlo- assoclation whlch were adopieQ 261h Aug 2020. 11 Is recognlsed as a cnartly by HMRC, charlty number 108816 Objectives and aGtivi¢ies The Charity's Objects 2re spÈcifittally rp.8lrir.tpd tn thp f(bllnwing-. 4.1.1. thc advanccment of health and seving of lives by the promotion, preservation, protection and safeguardlng of mental and physical wellbeing of chiloren, young people ano adults and re(lucing the impact of traum2', 4.1.2. Ihe advancement of education relating to healih and wellbeing- and 4.1.3. such other exclusivoly charitable purpose aGcording to the law of Northgm Ireland the Trustees fflay fiom lime to lime decide.
Fresh Minds Education Ltd Company Limited by Guarantee Tru5tee5' Annual Report (Incorporating the DireGtorfs Report) (conunue Year ended 31 July 2024 Achlevements and performance Achievement and Perfomianco This year has seen FME working hard to: Create new opportunities. Consolidato established aroa8 of work Meet new and existing need Milioale Ihe impact of the 2020 pandemic, 2nd other SOCiO•economic factors. FME is delighted to report that all key area5 have seen expansion, with new partnerships being established. and continuing interaction with childrenlyoung people. families. professionals and the local community. 1. Bereavement Support for families Lot's GROW Together ILGT) is a tier 2 bereavement support inteNontion for parenlg And r.hildrp.n. which was promoted by the Department of Health to support 19 families and en9ase up to 20 people in leaming the LGT melhodoloqy across the AN6L ana Mid Ulster local authority areas. The LGT model allows practitroners to integrate the intervention techniques into their work with children and pareiils. Results (SDQ & TOPSE} are showing PQSltive impact on the mental health and wellbeing of both participating children and parenls. This achievement has been a continuation of the pilot LGT programme delivered across tho Northern Health Trust, supported by tha HSCNI, Causeway Coast GP Federatlon an(i Impact Nl, that engaged over 20 fafflilie5 to make (Ill iiiili¢il i1SbeSbiiieiil of the impact of the methodology. The Gliniiner projeGt". Providing parents & carers Wlth Bereavement Glimmer Boxes to be better able to support their orievinq children & younq people, Ihese are provided lo tamilies who make a requesis through our Wob platfom. There are also a set a of Glimmer Library resources to help prnviding parents & carers and this who work wrf(h young people will knowledge and information on navigating bereavement. Annual Remembering Tree.. A3 part of our communty initiatives, we host an Annual Remembering Tree event. This beauliful tree invites people io a(Jd a bobble in memory of their love¢ ones. The initiative coincides with National Child and Youth Grief Awareness weè.k in Novembp.r And riinq righl up to Christmas. providing a meaningful way for the Gommunty to come together, remember. and support each other during the winter season Immediate As8i3tanGe Call8- Our dedicated team provides immediate support to families navigating the complexities of death and dying with children and young people. 2. Resilience Academy FME'S Resilience Academy is a series of earfy intervention progrdmmes iiileridvd lu promote the emotional resilience of both young and old. These programmes aim to develop self-awareness and confidence in the participants through imparting new knowledge and skills, with the intended outcomo belng to prevent the ¢Jevelopmeni of more serfous and erltrencheii mental and emoliLifidl Iiedllli c.onditinn8 in individii81s. Generatlon Thrlve. is the banner for FME'S programmes that engage with children and youny peuple and r.nntiniJp.s to go from strp.nglh to strength with new programmes being developed within this period. Fresh Little Minds - SUNRISE has been developed as a children's resilience curriculum with an innovate online platfomi. Thi- impact of thi- been Meaured {300+ children) and evaluated by QUB, using a rewgnised measuremenl tool (KID screen) anrj is derttonstrating positive impd61 uii
Fresh Minds Education Ltd Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (continued) Year ended 31 July 2024 participating children's mental health and wellbeing. Primary schools across Northem Ireland will recelve Fresh Llllle Minds Sunrise fundeu Dy RTE Toy snow IGFNI) an(J PHA Small Grants. Fresh Little Minds GROW continues to be delivered by FME associate practitioners across both Mid Ulster and the North-west, reaching cnilaren trom rural ana urban primary schools I he programme successfully provides a fun. interactlV8 curriculum of classroom-based activitl8s which can b8 delivered by either school slaff or laLiliVdtuis. 11 Iiilb bEeri well leLeive(J by sLliuulb diid wtnmunity organisations across the region, with 2 waiting list operating for subqidisod progrAmmÈq Parenting Fresh Little Minds". The AMBER Approach: A training for Triner programme for those working to support Parents and Carers Lost Voices.. FME was successful in secunng support from the Children in Need Youth Social Action fund and Arts Council Northern Ireland to develop the work it conducts co-producing and co-designing projects with and for young people, to present Ihelr Vol on mental health Issues. Tnis year saw FME rLacruit a young persons, Lost Voices Steering GrDUP The steering group work@d with other yOLing people in the community, delivering a range of engagement activities and resources with and for younq people. expionng the themes of bereavement. suiGi¢Je, grief and loss. It is important to note that this engagement programm8 has led to young people foming an advisory committee for FME operaliviidl aiid Ivdderbhip team5, by building in young peoples, voice5 and representation aGTQS5 the organisation. The group of young people have programmed and delivered creative ment21 hpalth activities for other young people supported by the Halifax foundation. The AMBER Approach to resilience is a programme which can be used by communty groups, education professionals and iii family selliiigs. This yeai Uie pioyianime lias beeii deliveied williir? schools and community groups to help provide them with a proven user-friendly resilience methodology that can be integrated into classrooms and 8cros3 a variety of school 8nd community settings. 3. Sulclde Preventlon Programme Connections Link Life Suicide Prevention Training continues to be supported by the PHA in providing the opportunity for groups and individuals in the NHSCT lo access Iliiè4 Iiaiiiing. Tliis pfDgramme continues to be one of the few suicide prevention training programmeg devised in Nl that is 2pproved by the PHA and able to be delivered onlinelvirtually, or in person. The Connections Link Life Curriculum is being delivered as part of the Education Authority's Being Well Doing Well intervention, across 150 scliools acioss Noilliern Ireldrid d5 d 5uiGide prevention training model for sch11 staff. Opeiatiuri Link Life Suicide Pievention Training was developed alongside the Veteran Commlssloner for Northern Ireland, Northem Ireland Veterans Support Office and sijppnrtpd by In8pirp Wp.Ilheing This curriculum continues to be delivered across Northem Ireland to veteran communities and their families. Connection Link Life T4T training 3how3 continued demand, with people trained to deliver the proqramme to our communities across the public. private and 3rd sectors. This Pfogramme accepts suitable applicants to receive training and support in the Connections Link Life curriculum, including the Connect 4-Way Intervention Model ancj how to prepare, set up and ¢Jeliver online an¢J in person. 4. Community connection The charity continue build The He2rtspace at Antrim Enterprise Agency, as a open community vènue which can fa¢ilitate progiammes, partner with other coinmuiTrily oigaiii>aliuiib lo deliveier sUPPOrt
Fresh Minds Education Ltd Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (wntInUlJ Year ended 31 July 2024 iqGlivilieb, hv51 yrvjebl Pdrtner5hip meeting5 an(i regional govemiance tneelingb ISuiGide Prevention). Baby Massag8'. A support programme for parents and carérs to receivèd mental health Ihemed baby massage Glasses. rhristmas Toy Appeal This community nneCtiOn programme was facilitated with donations for tnys and gifts from across the communty and offered to families who reqtjired support due lo economic and social circumstances. Financial review Income has decreased from last financial year lo £203.734. This has been achieved by the Board and Sonior Managament Taam investing time and oner9y into securin9 new partnerships, new fundin9 and maintaining the standard of existing contacts and services. The funding and income landscape continues to be influenced by global and national èvents. and this environment requires the organilatIOn to be flcxiblc in prioritising programmes and adapting methods of delivery to continue to meet nee¢J and its objectives. The Increase In the cost OT Ilvlng has maoe an Impa on ihe operational costs of the organisation and its services. which it continup.s lo m2n2gp.. rp.diJe.ino pnstq and innovating where necessary. 80th the level of activities and the year end financial position were considered satisfactory. The directors oxpoct that income to increase in the year to 31 July 2025 and this will bo maintained for the foreseeable future. The Slalement of Financial Activities shows a nel decrease in Unregricted Funds of £23,178 and a net deGrease in Restricted Funds of £16,183 Th8 Company had Total Charity Funds of £80.687 as at 31 July 2024 Small company provlslons This report has been prepared in accordancè with thg provisions applicable to companias gntitlsd to the small Gompanies exemption. The trustees, annuBI report waq apprnvpd nn ?4 Fp.hniAry ?fl?fj ¥And signed on behalf of the board of -tees by: Mr A Wallace Trustee
Fresh Minds Education Ltd Company Limited by Guarantee Independent Examlnefs Report to the Trustees of Fresh Minds Education Ltd Year ended 31 July 2024 I report to the trustees on my examination of the financial statements of Fresh Minds Education Ltd ('the chority'l lor the year ended 31 July 2024. Responsibilities and basis of report As the Iru5tees of the Gompany land a130 tts directors for the purp03es of company law) you are responsible for the preparation of the financial stalernents in accordan with the requirements of Charities Act (Northèrn IrÈl8nd) 2008 IlhÈ .9008 Ar.t') anrt thp. Q.nmp2nipq Arl 2006 ('thÈ 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 an Indepenttenl examination. -fied mysew that the account- of the company are not qUired to be audited undor Part 16 Having all- of the 2006 Act and are eliglble for Independent examination, I report in ie5pect of tny eKatllilldtit)ii uf thp. r.h2rity'q finAnr.i21 qtAlp.mp.nt% 2q r2rrip.d niit ijndpr sp.r.linn 65 (If the 2008 Act. In carrying out my examination I have followed the general DireGtion3 9iven by the Charity Commission for Northern Irelanii under section 65(91(b} of the 2008 Act. Independent examinerfs statement I have completed my exarninalion. I confirm thal no matters have come to my attention in connection with my oxamination giving me cause to bolievo thal in any material r6spect: accounllng records were not kepi In respea of the chanty as required by section 386 of the 2006 Art.. or the flnanctal stalements ao not accord wllh those records" or the financial 8talement8 do not comply with the accounting requirements of section 396 of the 2006 Act other Ihan any requirement thal the accoun15 give a 'true and fair. view wliiLII is not a matter considèred as part of an independent examination.. or the financial statements liave not been prepared in acGordanGe with the methods and principles of the Statement of Recommended Practice for accountino and reportino by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Staiidard applitzble in Uie UK aiid Republic of Ireland (FRS 1021. I r.nnfirm that thp.rp. arp. nn othp.r mAttprq to whiph yoiir attp.ntinn .qhr)iild hp. drAwn In pnxhlp. a prnpp.r underatanding of the accounts to be reached. Dermot Corr Independent Examiner 29B Main Street Randal$town County Aiiliini BT41 3AB 24 February 2025
Fresh Minds Education Ltd Company Limited by Guarantee Statement of FinanGial Activities (including income and expenditure account) Year ended 31 July 2024 2024 Restricted funds Tolal funds Total funds 2023 Unrestricted fijnds Note Income and endowments Donations and legacies Charitable activities 5.205 93,848 104.681 1n7,£A7 145,825 93,848 Total income 99,053 104,681 203,734 253,412 Expenditure ExpÈndilure on raising funds.. Cosls of other trading activities Totsl expenditure 122,231 120.864 243.095 233,817 122,231 120.864 243,09J 233,817 Net (expenditure)Iincome and net movÈmÈnt in funds (23,178) (16.183> (39,361) ReGonGiliation of funds Total tunos brought lorwartt Total funds carried forward 95.204 24.844 12U.04 1UU,4ts4 72.026 8.661 80.687 120,048 Tha statomont of financial activities includes all gains and losses recognisod in thè yèar. AII iTILUITie dn(i expendilure derive from conlinuing activitie5. The notes on pages 10 to 18 forni part of these financial statements.
Fresh Minds Education Ltd Company Limited by Guarantee Statetnent of Financial Position 31 July 2024 2024 2023 Note Fixed assets Tangible tixed assets 12 5. lJb Y,J2 Current aasets Stocks Debtors Cash at bank and in hand 13 14 18,839 18.383 57,874 23,958 33,603 94,604 95,096 152,165 Croditors: amounts falling duo within ona y•ar Nct currcnt asscts 15 15.908 32,122 79,188 120,043 Total assets less Current liabiltties 84,924 129,371 Creditors: amounts falling due after mor2 than ono yoar Net assets 16 4.237 9,322 80,687 120,049 Fund5 Of the charity Restricted funds Unrestricted fund- 8.661 72,026 24.844 95,204 Total charity fund3 17 80,G07 120,040 For ihe year ending 31 July 2U24 the charty was entiUe¢J lo exemptson trom audit under section 411 of the eompanies Act 2006 relating to small companies_ Direclor5' re5ponsibilities- The members havc not required the Company lo obtain an audit of its financial statemcnls for tric year in question in accordance with section 476; The directors acknowledge their responsibilities for complying wtih the requirement8 of the Act wllh respea to accounting recor(Es and the preparation or rinancial statemenis. Th9$9 financial statemantB have been prepared in aGGordanGe with the provisions applicable to LUIIIVclllieb tsuLTrjebl lo Ihe small companies. regirTIe. The statement of financial position Gontinues on the following page. The notès on pagos 10 to 18 fomi part of th@s@ financial stat@monts.
Fresh Minds Education Ltd Company Limited by Guarantee Statement of Financial Position (continued) 31 July 2024 These financial ststements were approved by the board of trustees and authorised for issue on 24 February 2U2b, and are signed on behalf oftne boara by.. Mr A Wallace Trustee The noTrs on pages 10 to 18 forni part of these flnanclal statements.
Fresh Minds Education Ltd Company Limited by Guarantee Statement of Cash Flows Year ended 31 July 2024 2024 2023 Cash flows from operating adivities Net (expenaiturellincome (39,361) 19,595 Adjustmcnts fttrr Depreciation of tangible fixed assets Interest payable and similar charges Accrued expensesl<income) 3.592 5.769 1,478 2.948 6.385 (5471 Changes in.. Stocks Trade and other debtors Trade and other cre(litors 5,119 15,220 (299) (8.4821 (13,9581 29,339 13.7291 Cash g@nÈrated fmm operations 40,033 Interest paid TAX r)Aid Net cash {used inyfrom opgrating act4Vities {5,7691 (17.3931 (31,6441 {6,385) (129) 33,519 Cash ftows from inve5tin9 activities Purchase ot tangible assets Net cash used in investing activities (5,1961 (5.196) Cash flows from financing activities Proceeds from borrowings Net cash used in financing actlvities (5.085) (5,085) (5.085) (5,085) Net (de¢rèast)lincrease in cash and cash equivalents Cash and cash equlvalents at beginning of year Gash and cash equlvalents at eno ot year (36.730) 94.604 23,238 71,366 57,iS74 94,604 The notes on pagès 10 to 18 forni part of thÈsÈ financi21 statèmènts.
Fresh Minds Education Ltd Company Limited by Guarantee Note5 to the Financial Statement5 Year ended 31 July 2024 General inforrnation The charity is a public benefit entity and a private company limited by guarantee, registered in Nurllieiii IrEldritJ diid d reiJibleied Lhiaiily in NoTlheTfi Irvldrid. Tlie dddrebb ul Ilig rwiblered vifib is Unit 5 Antrim Enterprise Centre, Greystone Road. Antrim. BT41 1JZ. Statement of complian¢0 These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Slandard applicable in the UK and the Republic of Ireland,. the Statement of Kecommended Praclice applicatsle lo chanties prepanng their accounts In accordance wilh Ihe Financial Reporting Standard applicable in the UK and Republit of Ireland (FRS 102) (Charities SORP {FRS 1021) and the Companies Act 2006. Accounting policies Basls of preparatlon Tho financial statements have been prepared on the historical cost basis. as modified by the revaluation of certain finanGial assets aiid liabilities and iiivestment properties measured at fair value Ihrough income or expenditure. The finanGial statements are prepared in sterfing. which is the functional GurrenGy of the entity. Going concern There are no material uncertainties about the Gharity's ability to continue. Judgements and key sources of estimation uncertainty The preparatlon of the flnanclal statements requlres managernent to make ludgernents, p.qtim2tp..q 2nd 2q8iJmptinnq thxt Affp.r.I the xmoiint% rppnrtp.rt. Thp..qp. p.8tim2lp.8 2nd judgp.ments are Gontinually reviewed and are based on experience and other faGtor3, including expeGtation8 of fvture events that are believed to be reasonable under the circumstances. Foreign curroncies Foreign cUencY transactions are initsally recorde¢J In Ihe tunctional currency, by applying the spot Èxchsng@ rate as at the date of the transaction. Monetary assets and liabilitips denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses beinq taken to the statemenl ot hnancial aclivilies. 10
Fresh Minds Education Ltd Company Limited by Guarantee Notes to the Financial Statements (coniinued) Year ended 31 July 2024 Accounting policies (conunuea) Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the c.h2rity'q ptJrpctr8ps_ Deslgnaled lunds are unreslrlcled funds earmarked by Ihe Iruslees for partiGular future project 01 commitment. RestriGte(i funds ale subjeGte¢J to restriGtlQlls on their expenditure deLl¢irEd by Ilie tjviiui ui through the terms of an appeal. and fall into one of Iwo sub-classe5'. restricted income funds or endowment funds. Incoming resources All incoming resourcc- are includcd in thc stalcmcnt of financial activities when entitlement has passed lo the charlty., It Is probable that the economlc beneflts assoclate¢J wlth the transaction will flow lo the charity and the 3mounl can be reliably measiired. Thp follnwing qrw.ifir. pnlir.ip.q are applied to particular categorie5 of income: income from donations or grants is recognised when there is evidence of entitlemènt to the gift, reGeipt is probable and its amount can be measured reliably. legacy incnme is regniSed when receipt is probable and entitlement is p.stabliqhprt. Income from donaied goods Is measure¢J at the lalr value of the goods unless thls Is impractical to measure reliably. in which case the value is derived from the cost to the donor or thc cstimatcd rCal¢ value. Donated facilitic- and crvICcS arc rccogniscd in thc accounts when received if the value can be reliably measu(j. No amounts are Included for the contribution of gpnp.rAI vnliJntÈ.p.rg. income Trom contracts for the supply of services is reccrfjnised wtlh Ihe delivery OT the contracted seNice_ This is clagstfiod ag unrestricted funds unless th@re is a contractua requircment for it to be spent on a particular purpose and returned rf unspent, in which case it may be reqar¢Ye(l as reslricted. 11
Fresh Minds Education Ltd Company Limited by Guarantee Notes to the Financial Statements (coniinued) Year ended 31 July 2024 Accountlng pollcles (continuedj Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fLilly recovered. and is classÉfie.d ijndpr headings nf Ihg. statement of financial activities lo which it relates.. expenditure on raising funds includes the costs of all fundraising activities. events. non-charitable trading activities, and the sale of donated goods. xpendituro on charitable activitigs includes all costs Incued by a charity in undertaking activities Ilial further its" cliaritable aims for the beriefit of its benefiGiaries. inGluding th05e support costs and costs relating to the governan of the charity apportioned to charitable activities. other expendrture includes all expendrture that is neilher related to raising lunds for the charity nor part of its expendFture on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Dlrect costs attribiit2hlp. tn x singlp. Artivtty xrp. xllneAtp.rl dirp.r.tly In th2t Artivty. Sharpd pcj.sls are apportioned between the actÈvitie3 they Gonlribute to on a reasonable, justifiable and con3iStent basi8. Tangible assets Tdiiyible cisbels dre initlcilly iecorded al G95t,and subseyuenlly bidletj dl Lubl lebb aiiy accumulated depreciation and impaimient losses. Any tangible assets carried al revalued amounts are recorded at the fair value at the date of revaluation lesB any 8ub80quenl tIGLUtnuldled depreciation and Subsequent accumulated ifflpairmenl losses. An increase in thÈ carrying amount of an asset as a result of a revaluation. ig recognised in other reco9nised 98ins and Ios3es, unless it reverses a Gharge for irnpairment that has previously been recogniseo as expenditure within the statement of financial activities. A decrease In the carrying amount of an asset as a result of revaluation, is recognisod in other recognisod gains and losses, except to which it offsets any previous ievalualion gain, in which case the Ioss is shown withi other recognised gains and losses on the stalement of financial activtti'es. Depreciation Dp.prp.r.iatinn 14 rAlr.iJlalp.d qo aq to write off the. cost or valuation of an assp.t. le.ss ils residiial value, over the useful economic life of that asset as follows: Equipment 250A straight line Impairnient of fixed assets A review for indicators of impairnient is carried out at each reporting dale. with the recoverable amount bcing CtImated where such indicators exist. Where the carrying value exceeds the recoverable amount, the assei is impaire(J accordingly. Prior impairmenis are also reviewe(J for possible reversal at each reporting date. 12
Fresh Minds Education Ltd Company Limited by Guarantee Notes to the Financial Statements Year ended 31 July 2024 Accountlng pollcles (continued) Impairment of fixed assets (continuedj For the purposes of impairrnenl tesling. when il is not possible to estimate the recoverable amount of an individual asset. an estimate is made of the recoverab19. amount of thp cash-generating unit to which the asset belongs. The cash-generating unit is the Smallest identiliable qroup ot assets that Includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairmeni testing of goodwill, the goo(Jwlll acqulre¢J In a buslness comblnalion is, from the acqLlSSltion datg 311oc3led lo eac.h of the r2qh-gp.np.rAting Iinitq th2t Arp expected to benefil from the syner9ies of the combination, irrespective of whether other a35ets or liabilities of the charity are assiqned to Ihose units. StOGk3 Stocks are measured at the lower of cost and estimated selling pri less costs to complete and sell. Cost includos all costs of purchase. costs of convorsion and othar costs incurred in bringing the stock lo its present location and condilion. Financial instruments A financial asset or a financial liability is recognised only when Uie charlty becomes a paty to Ihe conlr2ctu21 provisions of the instruMl_ Baslc flnanclal Instrumenis are Inltlally recognlsed at Ihe amount receivable or payable including any rplatpd tr2ngA(inn rn4t. Current assets and current liabilities are subsequently fflea5ured dl Ilie Ldbli ui ullitri consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amort13ed cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment Is ubTeqUen1ly Meaured at fair value with changes in fair value recognlsed in incorne and expendliure. All other such investments are subsequently ffleasured at cost le8$ impairmp.nt_ Other financial instruments. includlng derfvalives, are initially recognised at fair value, unle55 payment for an asset is deferred beyond normal business terms or financed at a rate of interest that Is not a market rate, in which case the asset is measured at Ihe prcs¢nt valuc of thc futurc payments discounied ai a market rate of interest for a similar debl instrumenl. Other financial instruments are subsequently measured at fair value, with any chan9OS recognised in the statemenl of financial aclivities. wlh the exception of hedging instruments in d designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objeGtiv¢ evidenGe of impairment at the end of each reporbng date. If there is obiective evidence ot impairment, an impairmant loss is r9cognised under the approprialg hgading in tha statement of financial abtiviligè+ iii wliiLh Ilie iriitldl gdin WdS recognised. 13
Fresh Minds Education Ltd Company Limited by Guarantee Notes to the Financial Statements Iconbnuedj Year ended 31 July 2024 Accounting policies (conlinuedj Financial instruments (continuedl For all equity instruments regardless of significance. and other financial assets that are individually significant, Ihese are 04¥sevsed individually for impaimient. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impaimenl are recognised immediately. to the exlenl that the reversal does nol result in a carrying amounl of the financial asset th8t exceeds what the carying amount would have been had Ihe impairment not previously been recognised. Lirnited by guarantee The company És limited by ouarantee. The liability of each member is limited to £1. being the amount each member undertakes to contribute to the assets of the Company in thc cvcnt of its being wound up while he or she is a member or Wiihin one year after he or she ceases to be 8 member, for: payment ol the Company's debts and liabilities contrae before he or she ceases to be a member. payment of the costs. charges and expenses of winding up" and - adjustment of the rights of the contributories among themselves. Donations and legacies Unrestricted unds Restricted Total Fund¥ Funas 2024 Granls Grants receivable 5.205 104.681 109,886 Unrestricted Funds Rgstricted Total Funds Funds 2023 Grants Grants reG¢ivable 2,000 105,587 107,587 Charitable acttvities Unie5tricted Total Fund5 UtJre51riGled TuLdl Fundb Funds 2024 Funds 2023 Oikier inwme from charitable activities 93,848 93,848 145,825 145,825 14
Fresh Minds Education Ltd Company Limited by Guarantee Notes to the Financial Statements (¢onUnuedJ Year ended 31 July 2024 C05ts Df other trading aGtivities Unrestricted Funds Restricted Total Funds Funds 2024 C08t8 of othor trading activities - Operating trading company 122,231 120.864 243,095 Unrestricted Funds Restricted Total Funds Funds 2023 Costs of other trading activitiès - OpÉraling trading company 153.075 80.743 233.817 Net (expendlture)lin¢ome Not loxpondituroyincome is stated after Chargin(crediting). 2024 2023 Depreciotion of tangible fixed assets Foreign exchange differences 3,592 239 2,948 239 Ind8p@ndent @Xamination feÈs 2024 2023 Fees payable to the independent examiner for. Independent examination of the financial statements 1.450 1.250 10. Staff costs The average head count of employees during the year was 1 12023- 3). The average number ol full-time equivalent employees during the year is analysed as follows: 2024 No. 2023 No. Core Staff No employee received empkjyee benefits of more than £60,000 during the year (2023: Nill. 11_ Trustee remuneration and @xpÈnses No Trustees recelved remuneration or other benefils from the Company. 15
Fresh Minds Education Ltd Company Llmlted by Guarantee Notes to the Financial Statements (continued) Year ended 31 July 2024 12. Tangible tixed assets Equipment Cost At 1 August 2023 and 31 July 2024 Depreciation At 1 August 2023 Charge for the year At 31 July 2024 Carrylng afflount At 31 July 2024 14,366 5,0315 3,592 8,630 5,736 At 31 Jiily ?O?q 9.328 13. StOGks 2024 2023 Raw materials and consumables 18,839 23,958 14. Debtors 2024 2023 Tradc dobto Prepaymenls and aGGrued income Olher debtors 9,547 7,813 1.023 24,389 174 9.040 15. Creditors- amounts falling due within one year 2024 Bank loans and overdrafts Trade creditors AGGruals aTrd deferred income Corporation tax Social security and other tsxes S,U85 5,085 402 1,522 22,162 2,951 3,000 4.lbg 3.054 15,908 32,122 16. Crettitors: amounts falling due after more than one year 2024 2023 Bank loans and overdrafts 16
Fresh Minds Education Ltd Company Limited by Guarantee Notes to the Financial Statements Year ended 3q July 2024 17. Analy51s of charltable funds Unrestricled funds At l August 202 At Income Expenditure 31 July 2024 General funds 95.204 99.053 1122,2311 72,U21i At 1 August 202 Al Income Expenditure 31 July 2023 General funds 100,454 147.825 1153,OT5) 95,204 Restricted funds At 1 August 202 At Inrnmp. Expp.ndiliJrp. 31 July 2024 Restricte¢J Funds 24,844 104,581 1120,8641 8,661 At 1 August 202 At Incon Expenditure 31 July 2023 Restricled Funds 105.587 (80,743) 24.844 18. Analysis of nel assets between funds Unrestricted Total Funds un¢Js Z024 Tangible fixed assets Current assets Creditors less than 1 year Creditors greater than 1 year Net assels 95.096 (15,9081 (4,2371 80,6117 95.096 115,9081 (4,237) Bu,ei13f Unrestricted Tolal Funds Funds 2023 Tangibl@ fixed assets Current assels re(iitors less than 1 year Creditors greater than 1 year Net aaaet3 9,328 1a2,1Gi 132.1221 (9,322) 120,049 9,328 1)2,16a 132.122) 19,322) 120,049 17
Fresh Minds Education Ltd Company Limited by Guarantee Notes to the Financial Statements {contsnued) Year ended 31 July 2024 19. Analysis of changes in net debt At At 1 Aug 2U2J Cash flows 31 Jul 2024 Cabli al baiik aiid iii liand Debt due within one year Debt due after one year 94,604 15.0851 (9,322} (36,730) 57,874 15,0851 14,2371 48,552 5.085 80.197 (31,645) 18