THE INNOVATION IN MENTAL HEALTH PROJECT CIC

Company limited by guarantee

Company Registration Number:
12553358 (England and Wales)

Unaudited statutory accounts for the year ended 30 April 2024

Period of accounts

Start date: 1 May 2023

End date: 30 April 2024

THE INNOVATION IN MENTAL HEALTH PROJECT CIC

Contents of the Financial Statements

for the Period Ended 30 April 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

THE INNOVATION IN MENTAL HEALTH PROJECT CIC

Directors' report period ended 30 April 2024

The directors present their report with the financial statements of the company for the period ended 30 April 2024

Principal activities of the company

The principal activity of the company during the year under review was Support in Mental Health



Directors

The director shown below has held office during the whole of the period from
1 May 2023 to 30 April 2024

R Gilderthorp


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
17 August 2024

And signed on behalf of the board by:
Name: R Gilderthorp
Status: Director

THE INNOVATION IN MENTAL HEALTH PROJECT CIC

Profit And Loss Account

for the Period Ended 30 April 2024

2024 2023


£

£
Turnover: 60,003 99,968
Cost of sales: ( 34,903 ) ( 60,884 )
Gross profit(or loss): 25,100 39,084
Distribution costs: ( 8,729 ) ( 17,565 )
Administrative expenses: ( 20,649 ) ( 21,276 )
Other operating income: 374 780
Operating profit(or loss): (3,904) 1,023
Interest receivable and similar income: 36 2
Interest payable and similar charges: ( 6 ) 0
Profit(or loss) before tax: (3,874) 1,025
Tax: 15 ( 195 )
Profit(or loss) for the financial year: (3,859) 830

THE INNOVATION IN MENTAL HEALTH PROJECT CIC

Balance sheet

As at 30 April 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 305 385
Total fixed assets: 305 385
Current assets
Debtors: 4 256 1,441
Cash at bank and in hand: 702 10,095
Total current assets: 958 11,536
Prepayments and accrued income: 0 0
Creditors: amounts falling due within one year: 5 ( 1,436 ) ( 7,464 )
Net current assets (liabilities): (478) 4,072
Total assets less current liabilities: (173) 4,457
Creditors: amounts falling due after more than one year: 6 ( 504 ) ( 1,260 )
Provision for liabilities: ( 58 ) ( 73 )
Total net assets (liabilities): (735) 3,124
Members' funds
Profit and loss account: (735) 3,124
Total members' funds: ( 735) 3,124

The notes form part of these financial statements

THE INNOVATION IN MENTAL HEALTH PROJECT CIC

Balance sheet statements

For the year ending 30 April 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 17 August 2024
and signed on behalf of the board by:

Name: R Gilderthorp
Status: Director

The notes form part of these financial statements

THE INNOVATION IN MENTAL HEALTH PROJECT CIC

Notes to the Financial Statements

for the Period Ended 30 April 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when all the following conditions are satisfied: the Company has transferred to the buyer the significant risks and rewards of ownership of the goods; the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; the amount of revenue can be measured reliably; it is probable that the economic benefits associated with the transaction will flow to the Company; and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

    Tangible fixed assets depreciation policy

    Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses. At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

    Other accounting policies

    Taxation Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from the surplus as reported in the income and expenditure account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Current or deferred tax for the year is recognised in the income and expenditure account, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively. Trade and other debtors Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts. Trade and other creditors Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

THE INNOVATION IN MENTAL HEALTH PROJECT CIC

Notes to the Financial Statements

for the Period Ended 30 April 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 0 0

THE INNOVATION IN MENTAL HEALTH PROJECT CIC

Notes to the Financial Statements

for the Period Ended 30 April 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 May 2023 105 408 513
Additions
Disposals
Revaluations
Transfers
At 30 April 2024 105 408 513
Depreciation
At 1 May 2023 46 82 128
Charge for year 15 65 80
On disposals
Other adjustments
At 30 April 2024 61 147 208
Net book value
At 30 April 2024 44 261 305
At 30 April 2023 59 326 385

THE INNOVATION IN MENTAL HEALTH PROJECT CIC

Notes to the Financial Statements

for the Period Ended 30 April 2024

4. Debtors

2024 2023
£ £
Trade debtors 0 1,010
Prepayments and accrued income 256 431
Total 256 1,441

THE INNOVATION IN MENTAL HEALTH PROJECT CIC

Notes to the Financial Statements

for the Period Ended 30 April 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Taxation and social security 242 6,766
Accruals and deferred income 1,194 698
Total 1,436 7,464

THE INNOVATION IN MENTAL HEALTH PROJECT CIC

Notes to the Financial Statements

for the Period Ended 30 April 2024

6. Creditors: amounts falling due after more than one year note

2024 2023
£ £
Other creditors 504 1,260
Total 504 1,260

COMMUNITY INTEREST ANNUAL REPORT

THE INNOVATION IN MENTAL HEALTH PROJECT CIC

Company Number: 12553358 (England and Wales)

Year Ending: 30 April 2024

Company activities and impact

Over the year we have run two projects which benefit different sections of the community. We took the difficult decison to begin the process of winding down the activities of the CIC from January 2024 with the aim to close completely in the autumn. Despite this we have achieved impact for our service users this year.Dr Rosie Psychology services provides online therapy and resources to parents who are struggling with their mental health. We provided 7 therapy clients with 62 sessions of psychological therapy. We have continued our blog/podcast "Pregnant and Sick" and have begun a research project in collaboration with Kings and South London and Maudsley NHS Trust to design a new psychological intervention for HG. Psychology Business School provides free and paid for online courses, resources, podcasts coaching and memberships for independent mental health professionals, charities and organisations. Over 4000 mental health professionals have accessed our free resources this year. Our podcast has achieved 80,000 downloads. We have provided 5 psychologists with 22 sessions of coaching. 50 mental health professionals were in our membership when it closed.

Consultation with stakeholders

The company has two key stakeholder groups. Individuals struggling with their mental health and mental health professionals.All users of our mental health services are asked to answer a short set of questionnaires at the end of their time with us. This asks for suggestions on how we can improve our service as well as some evidence based outcome measures that allow us to evaluate the efficacy of our work. Not all users complete these forms but all are asked for verbal feedback and this is recorded too. A sample of the answers to the feedback section of these forms is attached. In addition we have conducted focus groups as part of our research into how best support those with pregnancy sickness. We are also in frequent communication with stakeholders through surveys, social media Q&A sessions and regular “interviews” over zoom where people are invited to feedback on what we offer and what they need from us

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
17 August 2024

And signed on behalf of the board by:
Name: R. Gilderthorp
Status: Director