Charity registration number SC027040 (Scotland)
Company registration number SC178916 (Scotland)
HEARTS AND MINDS LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
HEARTS AND MINDS LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Directors/Trustees
John Beattie
Alan Cameron
(Resigned 29 July 2025)
Kevin Carter
Alisdair Caulfield
(Appointed 10 June 2026)
Robert Irvine
Sandy Lunan
(Resigned 29 July 2025)
Heather Pritchard
(Appointed 27 April 2026)
Araib Sultan
(Appointed 29 July 2025)
Kirsty Mackay Tough
(Resigned 26 June 2026)
Gary Ward
Jack Webb
(Resigned 8 September 2025)
Secretary
Sean Donnelly
Ruth Butterworth
(Resigned 30 April 2026)
Charity number (Scotland)
SC027040
Company number
SC178916
Registered office
Lower Ground Floor
4 Castle Terrace
Edinburgh
EH1 2DP
Independent examiner
McFadden Associates Limited
19 Rutland Square
Edinburgh
EH1 2BB
HEARTS AND MINDS LIMITED
CONTENTS
Page
Directors' report
1 - 4
Statement of directors' responsibilities
5
Independent examiner's report
6
Statement of financial activities
7
Balance sheet
8
Notes to the financial statements
9 - 18
HEARTS AND MINDS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2026
- 1 -

The Board of Directors present their report and accounts for the year ended 31 March 2026.

The financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

Objectives and activities

Hearts & Minds is a registered Scottish charity (no. SC027040) established in 1997 to promote improvement in the quality of life for children and adults in hospitals, hospices, care homes and school settings. The charity delivers three participative arts-in-health programmes: the Clowndoctors programme for children in hospitals and hospices (launched in 1999) the Elderflowers programme for adults living with dementia (launched in 2001) and the Clowndoctors in the Classroom programme (launched in 2010) for children and young people in schools for those with additional support needs.

Vision

Our vision is a Scotland that embraces playfulness, fosters healing and cultivates positive human connection, where joy, compassionate care and meaningful relationships are readily accessible to all.

Mission

Hearts & Minds exists to provide, promote and develop healthcare clowning in various settings throughout Scotland. We aim to bring joy, comfort, connection and emotional support to individuals facing health challenges, have additional support needs, or adults living with dementia. By enhancing healthcare and education experiences for children and young people, families, adults, and staff, we improve their well-being and enrich their quality of life.

Our work achieves this through the provision, promotion and development of healthcare clowning, which brings joy, comfort, connection and emotional support within healthcare and education settings, for public benefit.

Achievements and performance

Programme Delivery

During 2025–26, Hearts & Minds delivered 519 visits across hospitals, hospices, schools and community healthcare settings in Scotland, compared with 588 visits in the previous year. These visits created 6,942 unique and tailored interactions with children, young people and adults with dementia, each designed to bring connection, emotional support and moments of joy to those who need them most.

The reduction in delivery compared with the previous year reflected the decision by the Board and senior leadership to consolidate activity and strengthen the charity's financial sustainability following several years of operating deficits. This included temporarily reducing our Edinburgh and Glasgow hospital programmes from two days per week to one. While this represented a departure from the growth anticipated in our 2023–25 Strategic Plan, the measures taken during the year have provided a stronger foundation from which to rebuild delivery and plan for sustainable future growth.

Alongside this period of consolidation, we continued to explore new opportunities for development. During the year we delivered a pilot project with Sight Scotland, exploring the potential of healthcare clowning to support pre-school children with sight loss and their families. This work has generated valuable learning and strengthened partnerships that we hope will lead to future programme development.

HEARTS AND MINDS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 2 -

With the successful return to financial stability, the Board is now undertaking a review of the organisation's strategic direction. Building on the achievements and learning of the 2023–25 Strategic Plan, this will establish a renewed strategy to guide Hearts & Minds to sustainable growth, ensuring that our programmes continue to reach more people while maintaining the highest artistic and professional standards.

 

Programme Delivery 2025-2026

Programme

Visits

Interactions

Units

Clowndoctor in Hospital

273

3469

Edinburgh, Dundee, Glasgow, CHAS Hospices

Clowndoctor in the Classroom

140

2533

Fairview, Beatlie, Royal Blind School, Oaklands, Bertha Park ISP, Perth Grammar ISP

Elderflowers

102

932

Borders General Hospital; Findlay House, Edinburgh; Clackmannanshire Hospital

Play and Connect (pilot)

4

8

Sight Scotland

TOTAL

519

6942

 

Financial review

During the year, the charity received income of £425,637 and incurred expenditure of £381,845. Total funds held at 31 March 2026 amounted to £189,569, of which £102,862 were held as free reserves. Hearts & Minds recorded a surplus of £43,792 for the year, representing a significant improvement on the previous year's deficit of £48,654.

The improved financial performance reflects the measures taken by the Trustees and senior leadership during the year to restore the charity's financial sustainability. Following a period in which programme growth had outpaced income, expenditure was carefully managed through a temporary reduction in programme delivery, changes to staffing and a continued focus on securing sustainable funding.

These decisions were not taken lightly but were considered necessary to protect the long-term sustainability of the organisation. The resulting improvement in the charity's financial position has provided greater resilience and a stronger foundation for future programme delivery.

Having restored financial stability during 2025–26, Hearts & Minds entered 2026–27 in a position to begin rebuilding programme capacity. This has included restoring our Clowndoctors programmes in both Edinburgh and Glasgow children's hospitals to two days per week. The Trustees will continue to balance the ambition to increase the reach of our work with the need to ensure that future growth is financially sustainable. The Trustees will review the reserves policy and target annually to ensure that they remain appropriate to the charity's activities, financial risks, commitments and future plans.

Financial Reserves Policy

The Trustees of Hearts & Minds have reviewed the charity's need to maintain free financial reserves in accordance with OSCR's guidance on charity reserves. In determining an appropriate level of reserves, the Trustees have considered the charity's reliance on grant funding and voluntary income, the uncertainty and timing of future funding, and the need to ensure continuity of service during periods of financial uncertainty.

The Trustees consider that Hearts & Minds requires free reserves to:

HEARTS AND MINDS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 3 -

Hearts & Minds aims to maintain free reserves equivalent to approximately three months' average running costs, currently estimated at approximately £96,174. At 31 March 2026, free reserves amounted to £102,862, meaning that the charity had achieved its target level of reserves at the year end. Restricted and designated funds are excluded from the calculation of free reserves.

The Trustees consider the current level of reserves provide an appropriate degree of financial resilience while ensuring that the charity's resources continue to be used to further its charitable purposes. The Trustees will continue to review both the reserves policy and the level of reserves held on an annual basis, taking account of the charity's financial position, activities, risks and future plans.

Risk Management

The Trustees recognise that effective risk management is an essential part of good governance and are committed to maintaining an appropriate framework for identifying, assessing and managing the risks facing the charity.

During the year, the Trustees continued to consider the principal strategic, operational, financial and governance risks affecting Hearts & Minds. Risk management is supported by appropriate policies, procedures and internal controls designed to reduce the likelihood and potential impact of identified risks.

The Trustees have recognised the need to further strengthen the charity's approach to risk management. During 2026–27, the risk register and associated processes will be reviewed and developed to ensure that they appropriately reflect the organisation's activities, strategic objectives and changing operating environment. Regular review by the Board, supported by the Treasurer and Chief Executive, will form part of this strengthened approach.

Structure, governance and management

 

Governing Document

 

Hearts & Minds is a company limited by guarantee governed by its Memorandum and Articles of Association dated 19 September 1997.

The Trustees who served during the year were:

 

John Beattie
Alan Cameron
(Resigned 29 July 2025)
Kevin Carter
Robert Irvine
Sandy Lunan
(Resigned 29 July 2025)
Araib Sultan
(Appointed 29 July 2025)
Kirsty Mackay Tough
(Resigned 26 June 2026)
Gary Ward
Jack Webb
(Resigned 8 September 2025)

 

Appointment of Trustees

 

New Trustees are appointed by existing Trustees and are selected based on their lived and/or work experiences, their personal and/or professional skills, their commitment to the charity and its values.

New Trustees undergo an orientation to brief them on their legal obligations under charity and company law, the Scottish Charity Regulator’s guidance on trustee duties, and inform them of the content of the Memorandum and Articles of Association, the committee and decision-making processes, the business plan, past and recent financial performance of the charity.

Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.

HEARTS AND MINDS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 4 -

Organisational structure

Hearts & Minds is led by Chief Executive Officer Sean Donnelly. The CEO is appointed by the Trustees to manage the day-to-day operations of the charity. To facilitate effective operations, the CEO has delegated authority, within terms of delegation approved by the Trustees, for operational matters including finance, employment and artistic performance related activity.

The CEO is supported by a team that consists of:

Co-Artistic Directors, Lucy McGreal, Diane Thornton

Head of Development, Joanne Brown

Finance and Admin Officer, Janice Taylor (retired 31/3/2026)

Finance and Admin Officer, Hazel Wills (started 16/2/2026)

Marketing & Communications Officer, Shirley Monteith

Digital Engagement Officer, Ben Winger

Office Manager, Ruth Butterworth

Freelance performers

 

Our Clowndoctors are carefully selected professional arts practitioners who are specially trained to work in healthcare and other environments with vulnerable people. They use many techniques including improvisation, music and rhythm, song, dance, magic, puppetry, games and storytelling to engage with each child.

 

Our Elderflowers are carefully selected professional arts practitioners who are specifically trained to work in healthcare environments with vulnerable people. It takes special skills, sensitivity and empathy to become an Elderflower. They need to be able to improvise, sing and play, but also have the experience and maturity to judge the mood and engagement level of each participant and to tailor each visit appropriately. Respecting the dignity of participants is a central principle of the Elderflowers programme.

The directors' report was approved by the Board of Directors.

Robert Irvine
Director
Dated: 25 August 2026
HEARTS AND MINDS LIMITED
STATEMENT OF DIRECTORS' RESPONSIBILITIES  
FOR THE YEAR ENDED 31 MARCH 2026
- 5 -

The directors, who also act as trustees for the charitable activities of Hearts and Minds Limited, are responsible for preparing the Directors' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

 

Company Law requires the Directors to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

 

In preparing these accounts, the Directors are required to:

 

- select suitable accounting policies and then apply them consistently;

 

- observe the methods and principles in the Charities SORP;

 

- make judgements and estimates that are reasonable and prudent; and

 

- prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

 

The Directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

HEARTS AND MINDS LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE DIRECTORS OF HEARTS AND MINDS LIMITED
- 6 -

I report on the financial statements of the charity for the year ended 31 March 2026, which are set out on pages 7 to 18.

Respective responsibilities of Directors and examiner

The charity's trustees (who are also directors of the company for the purposes of company law) are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006, and they consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1)(c) of the Act and to state whether particular matters have come to our attention.

Basis of independent examiner's report

My examination was carried out in accordance with the Statement of Standards for Reporting Accountants and Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeks explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the view given by the accounts.

 

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

(a)
which gives me reasonable cause to believe that in any material respect the requirements:
(i)

to keep accounting records in accordance with section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations; and

(ii)

to prepare accounts which accord with the accounting records and comply with the accounting requirements of Regulation 8 of the 2006 Accounts Regulations and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities;

 

have not been met or
(b)

to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.

David G Stewart CA
19 Rutland Square
Edinburgh
EH1 2BB
Dated: 25 August 2026
HEARTS AND MINDS LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2026
- 7 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2026
2026
2026
2025
2025
2025
Notes
£
£
£
£
£
£
Income from:
Donations and legacies
3
236,831
114,448
351,279
156,658
163,383
320,041
Charitable activities
4
53,760
18,421
72,181
76,040
18,421
94,461
Investments
5
2,177
-
2,177
2,594
-
2,594
Total income
292,768
132,869
425,637
235,292
181,804
417,096
Expenditure on:
Raising funds
6
21,720
-
21,720
23,551
-
23,551
Charitable activities
7
250,014
110,111
360,125
226,556
215,643
442,199
Total expenditure
271,734
110,111
381,845
250,107
215,643
465,750
Net income/(expenditure) and movement in funds
21,034
22,758
43,792
(14,815)
(33,839)
(48,654)
Reconciliation of funds:
Fund balances at 1 April 2025
81,828
63,949
145,777
96,643
97,788
194,431
Fund balances at 31 March 2026
102,862
86,707
189,569
81,828
63,949
145,777

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

HEARTS AND MINDS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2026
31 March 2026
- 8 -
2026
2025
Notes
£
£
£
£
Fixed assets
Tangible assets
12
387
-
Current assets
Debtors
13
38,482
19,288
Cash at bank and in hand
156,508
135,349
194,990
154,637
Creditors: amounts falling due within one year
14
(5,808)
(8,860)
Net current assets
189,182
145,777
Total assets less current liabilities
189,569
145,777
Income funds
Restricted funds
15
86,707
63,949
Unrestricted funds - general
General unrestricted funds
102,862
81,828
102,862
81,828
189,569
145,777

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2026.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of trustees and authorised for issue on
25 August 2026
25 August 2026
and are signed on behalf of the board by
Robert Irvine
Trustee
Company Registration No. SC178916
HEARTS AND MINDS LIMITED
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
- 9 -
1
Accounting policies
Charity information

Hearts and Minds Limited is a private company limited by guarantee incorporated in Scotland and registered as a charity since 19 September 1997. The registered office is Lower Ground Floor, 4 Castle Terrace, Edinburgh, EH1 2DP.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's memorandum and articles of association, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

 

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the Directors have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. This expectation is based on the surplus achieved in 2025/26, the available cash balances at the year end and the budgetary assumptions for 2026/27 approved by the board.Thus the Directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the Directors in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4
Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
HEARTS AND MINDS LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 10 -
1.5
Expenditure

Expenditure is recognised when a liability is incurred

 

Charitable activities include expenditure associated with the programmes and include both direct and support costs relating to these activities.

 

Governance costs include those incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements.

 

Support costs include central functions and have been allocated to the charitable activity on a basis consistent with their use.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
25% per annum
Computers
33.3% per annum

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7
Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The charity 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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

1.10
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

HEARTS AND MINDS LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 11 -
1.12

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.13

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.              

1.14

Creditors

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

2
Critical accounting estimates and judgements

In the application of the charity’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.

3
Income from donations and legacies
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2026
2026
2026
2025
2025
2025
£
£
£
£
£
£
Donations and gifts
236,831
114,448
351,279
149,485
163,383
312,868

Grants receivable

-
-
-
7,173
-
7,173
236,831
114,448
351,279
156,658
163,383
320,041
HEARTS AND MINDS LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 12 -
4
Charitable activities
Health Authorities
Other Income
Total
2025
£
£
£
£
Workshops & conferences
-
53,760
53,760
76,040
Grants
18,421
-
18,421
18,421
18,421
53,760
72,181
94,461
Analysis by fund
Unrestricted funds
-
53,760
53,760
Restricted funds
18,421
-
18,421
18,421
53,760
72,181
For the year ended 31 March 2025
Unrestricted funds
-
76,040
76,040
Restricted funds
18,421
-
18,421
18,421
76,040
94,461
5
Income from investments
Unrestricted
Unrestricted
funds
funds
2026
2025
£
£
Interest receivable
2,177
2,594
6
Expenditure on raising funds
Unrestricted
Unrestricted
funds
funds
2026
2025
£
£
Fundraising and publicity
Fundraising agents
21,720
23,551
HEARTS AND MINDS LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 13 -
7
Charitable activities
Clowndoctors and Elderflowers Programmes
Clowndoctors and Elderflowers Programmes
2026
2025
£
£
Staff costs
149,866
176,202
Depreciation and impairment
193
731

Practitioner Fees

144,433
185,520

Travel & Subsistence

18,940
22,284

Resources

332
1,354

Consultants

2,969
2,232

Recruitment

240
-

Other costs

5,405
13,188

Training and Supervision

7,645
12,803
330,023
414,314
Share of support costs (see note 8)
27,237
24,894
Share of governance costs (see note 8)
2,865
2,991
360,125
442,199
Analysis by fund
Unrestricted funds - general
250,014
226,556
Restricted funds
110,111
215,643
360,125
442,199
HEARTS AND MINDS LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 14 -
8
Support costs allocated to activities
2026
2025
£
£
Insurance
2,039
1,758
Repairs and maintenance
5,018
5,076
Postage & stationery
1,196
1,957
Telephone
711
685
Sundry expenses
189
127
Subscriptions
3,956
3,783
Bank charges
663
957
Rent and utilities
13,465
10,551
Governance costs
2,865
2,991
30,102
27,885
Analysed between:
Clowndoctors and Elderflowers Programmes
30,102
27,885
9
Directors/Trustees

None of the Directors/Trustees (or any persons connected with them) received any remuneration during the year.

10
Employees

The average monthly number of employees during the year was:

2026
2025
Number
Number
Staff
5
6
Employment costs
2026
2025
£
£
Wages and salaries
142,393
167,014
Social security costs
4,729
5,980
Other pension costs
2,744
3,208
149,866
176,202
There were no employees whose annual remuneration was more than £60,000.
11
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

HEARTS AND MINDS LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 15 -
12
Tangible fixed assets
Fixtures, fittings & equipment
Computers
Total
£
£
£
Cost
At 1 April 2025
1,894
17,430
19,324
Additions
-
580
580
At 31 March 2026
1,894
18,010
19,904
Depreciation and impairment
At 1 April 2025
1,894
17,430
19,324
Depreciation charged in the year
-
193
193
At 31 March 2026
1,894
17,623
19,517
Carrying amount
At 31 March 2026
-
387
387
13
Debtors
2026
2025
Amounts falling due within one year:
£
£
Trade debtors
34,051
15,350
Prepayments and accrued income
4,431
3,938
38,482
19,288

All Trade debtor amounts outstanding at 31st March 2026 were received post year end.

14
Creditors: amounts falling due within one year
2026
2025
£
£
Other taxation and social security
3,525
2,343
Trade creditors
1,046
-
Other creditors
19
759
Accruals and deferred income
1,218
5,758
5,808
8,860
HEARTS AND MINDS LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 16 -
15
Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 April 2025
Incoming resources
Resources expended
At 31 March 2026
£
£
£
£
Radio Forth Cash for Kids
-
2,940
-
2,940
The Appletree Trust
2,100
2,100
(4,200)
-
Garfield Weston
-
10,000
(5,000)
5,000
Cattanach
3,936
-
(3,936)
-
The Mickel Fund
-
2,000
(2,000)
-
Emma Cameron Foundation
4,000
5,250
(5,750)
3,500
D'Oyly Carte Chariable Trust
1,476
-
(1,476)
-
Mrs Janet T Isles Denny Trust
2,000
5,000
(4,000)
3,000
R S Macdonald Charitable Trust
13,237
-
(13,237)
-
Sir Jules Thorn Charitable Trust
1,000
3,500
(2,750)
1,750
Murray Foundation
-
3,780
-
3,780
Robert Haldane Smith Foundation
-
1,500
-
1,500
Hugh Fraser Foundation
-
4,200
(1,000)
3,200
The Endrick Trust
-
3,000
-
3,000
Stevenston Charitable Trust
-
2,520
(2,520)
-
The Queensberry House Trust
-
8,400
(4,200)
4,200
The National Lottery Community Fund
17,500
17,857
(17,500)
17,857
The Vardy Foundation
-
10,000
-
10,000
The Plum Trust
5,000
5,000
(5,000)
5,000
Walter Scott Giving Group
5,000
10,000
(10,000)
5,000
Ward Family Charitable Trust
1,000
-
(1,000)
-
White Top Foundation
-
3,000
-
3,000
A E B Charitable Trust
-
5,000
-
5,000
NHS Tayside Foundation
-
23,122
(17,342)
5,780
The Foyle Foundation
2,500
-
(2,500)
-
The Ghosling Foundation
3,500
-
(3,500)
-
Trades House Glasgow Commonwealth Fund
1,700
1,700
(1,700)
1,700
The Schreirer Foundation
-
3,000
(1,500)
1,500
63,949
132,869
(110,111)
86,707
HEARTS AND MINDS LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
15
Restricted funds
(Continued)
- 17 -
Previous year:
At 1 April 2024
Incoming resources
Resources expended
At 31 March 2025
£
£
£
£
Radio Forth Cash for Kids
3,296
-
(3,296)
-
Barcapel Foundation
7,500
-
(7,500)
-
The Appletree Trust
2,000
2,100
(2,000)
2,100
The Arndee Trust
2,000
-
(2,000)
-
The Christna Mary Hendrie Trust
-
6,500
(6,500)
-
Cattanach
-
19,936
(16,000)
3,936
CHAS
-
24,000
(24,000)
-
The Mickel Fund
3,000
2,000
(5,000)
-
Emma Cameron Foundation
2,500
6,000
(4,500)
4,000
D'Oyly Carte Chariable Trust
590
3,296
(2,410)
1,476
Mrs Janet T Isles Denny Trust
3,000
5,000
(6,000)
2,000
Edinburgh Children's Holiday Fund
1,000
-
(1,000)
-
R S Macdonald Charitable Trust
11,965
16,272
(15,000)
13,237
Sir Jules Thorn Charitable Trust
-
3,000
(2,000)
1,000
Paristamen Charity
500
1,000
(1,500)
-
Nancie Massey Charitable Trust
2,000
-
(2,000)
-
Robert Haldane Smith Foundation
1,000
-
(1,000)
-
Hugh Fraser Foundation
2,100
-
(2,100)
-
People's Postcode Trust
11,617
-
(11,617)
-
Stevenston Charitable Trust
2,000
2,000
(4,000)
-
The Hospital Saturday Fund
4,920
-
(4,920)
-
The National Lottery Community Fund
12,800
17,500
(12,800)
17,500
The Pierrepoint Trust
10,000
-
(10,000)
-
The Plum Trust
5,000
5,000
(5,000)
5,000
Walter Scott Giving Group
5,000
10,000
(10,000)
5,000
Ward Family Charitable Trust
1,000
1,000
(1,000)
1,000
White Top Foundation
3,000
-
(3,000)
-
A E B Charitable Trust
-
5,000
(5,000)
-
NHS Tayside Foundation
-
18,000
(18,000)
-
The Foyle Foundation
-
20,000
(17,500)
2,500
The Ghosling Foundation
-
10,000
(6,500)
3,500
Trades House Glasgow Commonwealth Fund
-
1,700
-
1,700
The Schreirer Foundation
-
2,500
(2,500)
-
97,788
181,804
(215,643)
63,949
16
Retirement benefit schemes
Defined contribution schemes

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £2,744 (2025 - £3,208).

HEARTS AND MINDS LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2026
- 18 -
17
Analysis of net assets between funds
Unrestricted
Restricted
Total
funds
funds
2026
2026
2026
£
£
£
Fund balances at 31 March 2026 are represented by:
Tangible assets
387
-
387
Current assets/(liabilities)
102,475
86,707
189,182
102,862
86,707
189,569
Unrestricted
Restricted
Total
funds
funds
2025
2025
2025
£
£
£
Fund balances at 31 March 2025 are represented by:
Current assets/(liabilities)
81,828
63,949
145,777
81,828
63,949
145,777
18
Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

Movement in funds
Movement in funds
Balance at
1 April 2024
Incoming resources
Resources expended
Balance at
1 April 2025
Incoming resources
Resources expended
Balance at
31 March 2026
£
£
£
£
£
£
£
General Unrestricted funds
96,643
235,292
(250,107)
81,828
292,768
(271,734)
102,862
96,643
235,292
(250,107)
81,828
292,768
(271,734)
102,862
19
Related party transactions

There were no disclosable related party transactions during the year (2025 - none).

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