MENTAL WEALTH LONDON CIC

Company limited by guarantee

Company Registration Number:
14570577 (England and Wales)

Unaudited statutory accounts for the year ended 31 January 2025

Period of accounts

Start date: 1 February 2024

End date: 31 January 2025

MENTAL WEALTH LONDON CIC

Contents of the Financial Statements

for the Period Ended 31 January 2025

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

MENTAL WEALTH LONDON CIC

Directors' report period ended 31 January 2025

The directors present their report with the financial statements of the company for the period ended 31 January 2025

Principal activities of the company

Our aim is to promote well-being through arts and culture in South London. While serving Southwark and the surrounding boroughs, the organisation will provide local communities access to a range of arts and culture initiatives that will advance and improve the well-being of local communities in South London. Our Areas of focus are: To provide mental health and well-being support through creative arts outreach programmes, that will assist disadvantaged local communities with tackling mental health challenges, building their confidence and developing themselves further. To implement art programmes within the local community; providing access to resources for recreational well-being that will support disadvantaged local communities to explore their creativity whilst learning a new skill. Growth in year 2 Our second year of operation ended on the 31 January 2025. In this year we sourced grant funding to strengthen our internal operations and to expand our offering to include family wellbeing sessions. We continued to work responsively delivering workshops according to demand and funding. We networked with several other organisations to build towards a more tailored approach to future sessions in partnership with other organisations.



Directors

The directors shown below have held office during the whole of the period from
1 February 2024 to 31 January 2025

Joy Moyo
 Ceclia Oluwabukola Dagiloke
 Joanna Hobson

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
31 May 2025

And signed on behalf of the board by:
Name: Joy Moyo
Status: Director

MENTAL WEALTH LONDON CIC

Profit And Loss Account

for the Period Ended 31 January 2025

2025 13 months to 31 January 2024


£
£
Turnover: 14,496 10,100
Gross profit(or loss): 14,496 10,100
Administrative expenses: ( 9,484 ) ( 10,371 )
Operating profit(or loss): 5,012 (271)
Profit(or loss) before tax: 5,012 (271)
Profit(or loss) for the financial year: 5,012 (271)

MENTAL WEALTH LONDON CIC

Balance sheet

As at 31 January 2025

Notes 2025 13 months to 31 January 2024


£
£
Fixed assets
Tangible assets: 3 47 47
Total fixed assets: 47 47
Current assets
Cash at bank and in hand: 5,319 7
Total current assets: 5,319 7
Creditors: amounts falling due within one year: 4 ( 624 ) ( 325 )
Net current assets (liabilities): 4,695 (318)
Total assets less current liabilities: 4,742 ( 271)
Total net assets (liabilities): 4,742 (271)
Members' funds
Profit and loss account: 4,742 ( 271)
Total members' funds: 4,742 (271)

The notes form part of these financial statements

MENTAL WEALTH LONDON CIC

Balance sheet statements

For the year ending 31 January 2025 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 31 May 2025
and signed on behalf of the board by:

Name: Joy Moyo
Status: Director

The notes form part of these financial statements

MENTAL WEALTH LONDON CIC

Notes to the Financial Statements

for the Period Ended 31 January 2025

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Financial Reporting Standard 101

    Turnover policy

    Income is recognised when it is probable that economic benefits will flow to the company and the income can be reliably measured. Income is recognised on an accruals basis.

    Tangible fixed assets depreciation policy

    Fixed assets are stated at cost less accumulated depreciation. Depreciation is provided on a straight-line basis over the estimated useful lives of the assets: - Office Equipment: 5 years Furniture and Fixtures: 10 years Computer Equipment: 3 years

    Other accounting policies

    1. Accounting Policies a) Basis of Preparation: The financial statements have been prepared under the historical cost convention and in accordance with applicable UK accounting standards. The company is a Community Interest Company (CIC) and is required to adhere to the Companies Act 2006. b) Going Concern: The directors have assessed the company’s ability to continue as a going concern for at least 12 months from the date of approval of these financial statements. They are satisfied that the company has adequate resources to continue its operations. c) Income Recognition Income is recognised when it is probable that economic benefits will flow to the company and the income can be reliably measured. Income is recognised on an accruals basis. d) Expenditure Recognition Expenses are recognised on an accruals basis. All costs incurred in connection with the company’s activities are included in the income statement. e) Fixed Assets Fixed assets are stated at cost less accumulated depreciation. Depreciation is provided on a straight-line basis over the estimated useful lives of the assets: - Office Equipment: 5 years Furniture and Fixtures: 10 years Computer Equipment: 3 years f) Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the CIC: this is normally upon notification of the interest paid or payable by the bank. g) Donated services and facilities Donated professional services and donated facilities are recognised as income when the CIC has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item, is probable and the economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised.

MENTAL WEALTH LONDON CIC

Notes to the Financial Statements

for the Period Ended 31 January 2025

  • 2. Employees

    2025 13 months to 31 January 2024
    Average number of employees during the period 0 0

MENTAL WEALTH LONDON CIC

Notes to the Financial Statements

for the Period Ended 31 January 2025

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 February 2024 47 47
Additions
Disposals
Revaluations
Transfers
At 31 January 2025 47 47
Depreciation
At 1 February 2024 0 0
Charge for year
On disposals
Other adjustments
At 31 January 2025 0 0
Net book value
At 31 January 2025 47 47
At 31 January 2024 47 47

MENTAL WEALTH LONDON CIC

Notes to the Financial Statements

for the Period Ended 31 January 2025

4. Creditors: amounts falling due within one year note

2025 13 months to 31 January 2024
£ £
Other creditors 624 325
Total 624 325

COMMUNITY INTEREST ANNUAL REPORT

MENTAL WEALTH LONDON CIC

Company Number: 14570577 (England and Wales)

Year Ending: 31 January 2025

Company activities and impact

2. Directors' Report Our aim is to promote well-being through arts and culture in South London. While serving Southwark and the surrounding boroughs, the organisation will provide local communities access to a range of arts and culture initiatives that will advance and improve the well-being of local communities in South London. Our Areas of focus are: To provide mental health and well-being support through creative arts outreach programmes, that will assist disadvantaged local communities with tackling mental health challenges, building their confidence and developing themselves further. To implement art programmes within the local community; providing access to resources for recreational well-being that will support disadvantaged local communities to explore their creativity whilst learning a new skill. Growth in year 2 Our second year of operation ended on the 31 January 2025. In this year we sourced grant funding to strengthen our internal operations and to expand our offering to include family wellbeing sessions. We continued to work responsively delivering workshops according to demand and funding. We networked with several other organisations to build towards a more tailored approach to future sessions in partnership with other organisations.

Consultation with stakeholders

Consultation with Stakeholders Our stakeholders are primarily the people who attend our sessions. Additionally, there are grant providers, other community organisations and the wider community in South London. As a new CIC, feedback and consultation are a continuous process within our project. Attendees of all art clubs are invited to share how they felt at the beginning and end of the session as well as to offer more detailed feedback. Additionally we are in consultation with other providers with whom we are seeking to build greater partnership. By improving the mental health of as many individuals as possible we aim to enhance our local community.

Directors' remuneration

During the year, the company engaged in the following transactions with related parties: - £2300 was spent on remuneration paid to or receivable by directors in respect of qualifying services. This includes £1800 to C Dagiloke for the delivery of art classes £500 to J Moyo for financial administrtaion There were no other related party transactions.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
31 May 2025

And signed on behalf of the board by:
Name: Joy Moyo
Status: Director