MINDFULNESS ASSOCIATION C.I.C.

Company limited by guarantee

Company Registration Number:
SC378541 (Scotland)

Unaudited statutory accounts for the year ended 30 September 2024

Period of accounts

Start date: 1 October 2023

End date: 30 September 2024

MINDFULNESS ASSOCIATION C.I.C.

Contents of the Financial Statements

for the Period Ended 30 September 2024

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

MINDFULNESS ASSOCIATION C.I.C.

Directors' report period ended 30 September 2024

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

Principal activities of the company

Over the course of the year the company delivered 46 modules of mindfulness-based training (each module amounts to 10 to 13 hours of live teaching) and 4 five-day retreats for 854 attendees from the general public with the aim of enhancing their wellbeing. We also delivered 11 hours of online sessions to practitioner members and approximately 520 free meditation sessions to the general public. We also offered 6 teacher training weekends and 2 retreats attended by over 104 mindfulness teachers, with 20 mindfulness teachers completing their teacher training according to the requirements of the British Association of Mindfulness Based Approaches (BAMBA). We delivered 17 hours of online teaching and Q&A sessions to teacher members. These teachers will go on to teach and share the benefits of mindfulness with their communities. We train and support a team of mindfulness supervisors in accordance with BAMBA requirements, who supervise the mindfulness teachers that we train. In addition, we supported 39 students in their Master’s degree studies via our partnerships with the University of Aberdeen and the University of the West of Scotland.



Directors

The directors shown below have held office during the whole of the period from
1 October 2023 to 30 September 2024

N Bertram-Smith
S McGovern
H Regan-Addis


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
24 June 2025

And signed on behalf of the board by:
Name: H Regan-Addis
Status: Director

MINDFULNESS ASSOCIATION C.I.C.

Profit And Loss Account

for the Period Ended 30 September 2024

2024 2023


£

£
Turnover: 370,172 355,728
Cost of sales: ( 182,356 ) ( 177,255 )
Gross profit(or loss): 187,816 178,473
Administrative expenses: ( 203,914 ) ( 183,895 )
Operating profit(or loss): (16,098) (5,422)
Interest receivable and similar income: 1,022 319
Profit(or loss) before tax: (15,076) (5,103)
Tax: 55
Profit(or loss) for the financial year: (15,076) (5,048)

MINDFULNESS ASSOCIATION C.I.C.

Balance sheet

As at 30 September 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 129 192
Total fixed assets: 129 192
Current assets
Debtors: 4 72,253 65,454
Cash at bank and in hand: 154,753 143,409
Total current assets: 227,006 208,863
Creditors: amounts falling due within one year: 5 ( 126,619 ) ( 93,463 )
Net current assets (liabilities): 100,387 115,400
Total assets less current liabilities: 100,516 115,592
Total net assets (liabilities): 100,516 115,592
Members' funds
Profit and loss account: 100,516 115,592
Total members' funds: 100,516 115,592

The notes form part of these financial statements

MINDFULNESS ASSOCIATION C.I.C.

Balance sheet statements

For the year ending 30 September 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 24 June 2025
and signed on behalf of the board by:

Name: H Regan-Addis
Status: Director

The notes form part of these financial statements

MINDFULNESS ASSOCIATION C.I.C.

Notes to the Financial Statements

for the Period Ended 30 September 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 represents the course and franchise fees. Revenue is recognised when the company becomes unconditionally entitled to the fees and is generally once the course has been delivered.

    Tangible fixed assets depreciation policy

    Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Computer Equipment - 33% reducing balance

    Other accounting policies

    Taxation Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current or deferred taxation assets and liabilities are not discounted. Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Going concern The company has sufficient cash therefore the directors believe liabilities will be met as they fall due, consequently the financial statements are prepare on the Going Concern basis. Financial instruments The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. Provisions Provisions are recognised when the charity has a present obligation as a result of a past event, it is probable that a transfer of economic benefit will be required to settle the obligations and a reliable estimate can be made of the amount of the obligation. Critical accounting judgements and key sources of estimation uncertainty In the application of the company's accounting policies, the directors 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. 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.

MINDFULNESS ASSOCIATION C.I.C.

Notes to the Financial Statements

for the Period Ended 30 September 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 10 9

    No employee received emoluments of £60,000 or more in the year. Directors who are the key management personnel received total salary of £84,708 (2023: £98,494) during the year. H Regan-Addis, a director, was reimbursed for travel and other expenses as a tutor during the year totalling £9,652 (2023: £6,716) and a further £14,790 (2023: £9,150) for business expenses such as app, website and subscription costs paid for on behalf of the CIC. S McGovern, a director, was reimbursed for travel and other expenses during the year totalling £1,506 (2023: £1,478).

MINDFULNESS ASSOCIATION C.I.C.

Notes to the Financial Statements

for the Period Ended 30 September 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 October 2023 1,767 1,767
Additions
Disposals
Revaluations
Transfers
At 30 September 2024 1,767 1,767
Depreciation
At 1 October 2023 1,575 1,575
Charge for year 63 63
On disposals
Other adjustments
At 30 September 2024 1,638 1,638
Net book value
At 30 September 2024 129 129
At 30 September 2023 192 192

MINDFULNESS ASSOCIATION C.I.C.

Notes to the Financial Statements

for the Period Ended 30 September 2024

4. Debtors

2024 2023
£ £
Trade debtors 47,724 35,191
Prepayments and accrued income 12,936 17,670
Other debtors 11,593 12,593
Total 72,253 65,454
Debtors due after more than one year: 6,500 7,500

MINDFULNESS ASSOCIATION C.I.C.

Notes to the Financial Statements

for the Period Ended 30 September 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 8,292 10,608
Taxation and social security 5,481 4,511
Accruals and deferred income 111,547 75,859
Other creditors 1,299 2,485
Total 126,619 93,463

COMMUNITY INTEREST ANNUAL REPORT

MINDFULNESS ASSOCIATION C.I.C.

Company Number: SC378541 (Scotland)

Year Ending: 30 September 2024

Company activities and impact

Over the course of the year the company delivered 46 modules of mindfulness-based training (each module amounts to 10 to 13 hours of live teaching) and 4 five-day retreats for 854 attendees from the general public with the aim of enhancing their wellbeing. We also delivered 11 hours of online sessions to practitioner members and approximately 520 free meditation sessions to the general public. We also offered 6 teacher training weekends and 2 retreats attended by over 104 mindfulness teachers, with 20 mindfulness teachers completing their teacher training according to the requirements of the British Association of Mindfulness Based Approaches (BAMBA). We delivered 17 hours of online teaching and Q&A sessions to teacher members. These teachers will go on to teach and share the benefits of mindfulness with their communities. We train and support a team of mindfulness supervisors in accordance with BAMBA requirements, who supervise the mindfulness teachers that we train. In addition, we supported 39 students in their Master’s degree studies via our partnerships with the University of Aberdeen and the University of the West of Scotland.

Consultation with stakeholders

No consultation with stakeholders

Directors' remuneration

The aggregate amount of directors remuneration in respect of qualifying services paid during the year was £84,708. There were no other transactions or arrangements in connection with the remunerations of directors which require to be disclosed.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
24 June 2025

And signed on behalf of the board by:
Name: Heather Regan-Addis
Status: Director