MfNTAI WEALTh ACADEMY
Mental Wealth Academy (Scotland)
Trustees, Annual Report and
Accounts
From 2310912023 to 3010912024

Charity contact infonnation
Your charity's name: Mentsl Wealth Academy (Scotland)
Scottish Charity Number. SC052843
Address: Brooksbank Centre
Prtairfie Road
Mid Craigie
Dundee
Postcode: DD4 8DG
Email address: mentslwealthacademy@oullook.com

Charlty Trustees

Objectives and activities
The Mental Wealth Academy (MWA) has been formed on the principle
that people with lived experience of mental health problems are
skilled, knowledgeable and tslented, and not just about Mental Health.
The MWA seeks to provide a platform for members affected by Mentsl
Health problems to be able to use these skills knowledge and tslents
to benefit themselves, each other and the wider community.
Our activities over this first year as an independent tharity have been
focussed in two strands of woth. The first of these is the development
of workplace training for managers, designed to promote the
understsnding of the Importan￿ of and benefits of mentally healthy
workplaces, and provide tools to help achieve this.
The second strand is a Systematic Review looking at the effectiveness
of Expert by Experien￿ developed and delivered in community and
public settings.
In addition to these, we worked with Abertay University to provide face
to face contact belween mental health nursing students and people
with mental health problems. This provide a chance to meet us when
we are well, and ask questions of us thal might be inappropriate in
professional context, but invaluable in professional development.
To support and facilitste this work we applied for and re￿iVed grant
funding at the start of this year. Moving from being a hosted project
with a charity, to standing separately as an independent charity has
proven to be a challenging task in practice, and the trustee policy of
caution has resulted in slower than hoped progress.
We have met to continue with the strands of work on a limited basis
thanks to the gra￿ of other local groups that share our values.

Structure, governance and management
Type of governing document
The Mental Wealth Academy operates as a two tier Scottish
Charitable Incorporated Organisation.
Trustee recruitment and appoinkn)ent
After the resignation of two of the three initial trustees due to health
consideration earlier this year, a General Meeting was held, and
additional trustees elected from the membership. We are currently
seeking to recruit additional trustees to bring experience to the Board,
either as elected trustees with suitsble skills, or as co-opted trustees
who share the values of the Mental Wealth Academy.

Achievements and perforniance
In our first full calendar year, we successfully applied for fvnding to
support our two strands of work, being awarded £8665.80 in total from
the Communities Mental Health and Wellbeing Fund.
As noted, we have had the resignation of two of the initial trustees,
that lead to delays in completing govemance guidelines, and banking
arrangements that would have enabled us to pursue the full strands of
work funded.
The Board decided to adopt a cautious approach, and activities were
paused while these matters could be effectively resolved.
In consequen￿, only limrted progress was made toward the charitable
objectives, and none of the funds were spent in this financial year.

Financial review
Income
Expenditure Balance
£O.(K) £1,185.C#)
£0.￿ £2,IXKI.(M)
Researth, Room Hire
Article submission
Totsl Research Group
Budget
£1.185.C
£2.(XKI.(XI
£QIX) £3.185.lY)
Tralnlnt Caterlng for trainin8
Trainin8 room hire
Meeting room hire
Branded materials
VolunteerTravel Expenses
£1.2(M).(xi
£1.21K).(M)
£2.140.80
£51K).C
£2￿.¢1)
£0.00 £1,2(Kl.IXI
£0.00 £1,2(M).(Kl
£O.CKI £2.140.80
£O.(KJ £5(X).
£0.
£200.IXI
Totsl trainin8 group Budget £5M)AI
£o.(N) £5,480.80
Year Totsl
Notes to Accounts
£8.665.80
£o.IX) £8,665.80
Restricted funds are held for each stream of worf(. The current
streams of work with funds are:
1. The Research worf(ing group
2. Training working group
No grants were paid out by the Charity.
No renumeration or expenses were paid to trustees in the current
financial year.
There were no transactions with either Trustees or connected persons.
ststement of the charity's policy on reserves
As a newly fonned charity the intention is to build up unrestricted
reserves in the long term, however as there are no unfunded
committed future costs there is no immediate reserves policy.

Future plans
With the state of govemance much improved, the focus is on
achieving partial success in training delivery in accordance with the
terns of the appropriate grant, ensuring that related expenditure is
suitsbly proportionate.

Declaration
Signed on behalf of ttE charity trustees:
Print name
De8ignation
Date
11 /iil£Ql*

Mental Wealth Academy (Scotland)
Independent ExaMine￿S Report
To the Trustees of Mentsl Wealth Academy (Scotland) SC052843
I report on the accounts of the charity for the period 23 September 2023 to 30 S8Ptemb8r
2024 which are set out on pa&E 7 of the Trustees Annual Report ¥KI Accounts.
Respective responsibilities of Trustees and examiner
The charity's Trustees are resp(￿sIb￿ for the preparat￿n of the financial statements In
accordance with the tems of Ihe Chanties arKI Trustee Investment (Scotland) Acl 2005 and
the Charities Accounls (scotl￿d) RaJulaticns 20CE (as amended). The charity's Trustees
consider that the audit requirement of Regulation 10{1) (d) of the 2006 AccoLAnts Regulations
does not apply. It is my resp)nsibility to examine the financ491 statements as required under
section 44(1)(c) of the Act and to state whether particular matters have come to attention.
Basls of independent examlnerfs statement
My examination is carried out In accordance with Regulation 11 of 2006 Accounts
Regulations. An exam ination includes a review of the aC￿unting records kept by the charity
8no a comparlson of the accounis pres8nted with Ihose records. 11 also includes consideralion
of any unusual iterns or disdosures In the finanoal statements, and seeks explanations from
the trustees concerning any such matters. The procedures urKJertaken do not provide all the
evidenca that would bé r￿uired in an audit and consequently I do not express an audit
cpinion on the view given by the financial statements.
Independent examinerfs statement
In connection with my examination, rK> matter has come to my attention..
a) which gives me reasonable cause to believe th8t in any material respect the requirements:
(I) to keep accounting records In accordance with section 44(1) la) of the 2005 Act and
Regulation 4 of the 2006 Acc(￿ntS Ragulatior6,' and
(li) to praparè financial statements whith accord wrth the ac£cxJnti￿ re￿WdS and comply with
Regulation 8 of tha 2006 Accounts Regulations;
have not been met or
(bl to which, in my opinion, attention should be drawn in order to ￿8b18 a prop8r
understanding of the accounts to reached.
Signed .'