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        cha llenge of

Reports                                Financial statements
4    Reference and administrative 		   38    Group statement of financial
     information                             activities
6    Introduction                      39    Charity statement of financial
10   Trustees’ report
                                       40    Balance sheets
16   Fundraising & communications
                                       41    Group statement of cash flows
24   Financial review
                                       43    Principal accounting policies
28   Structure, governance and
     management                        48    Notes to the financial statements
34   Independent auditor’s report
Patron					HRH Princess Alexandra                                                              Registered and principal office			Colechurch House
						The Hon Lady Ogilvy KG GCVO                                                              							1 London Bridge Walk
Trustees 					                         Keith Leslie (Chair to July 2020)
                                                                                               							SE1 2SX
                                       Kyla Brand
                                       Neil Caldicott (resigned July 2019)                     Website
                                       Linda de Caestecker
                                                                                               Twitter						@mentalhealth
                                       Jacqui Dyer OBE (resigned July 2019)
                                       Ann John                                                Facebook
                                       Jenny Paton (Vice Chair)                                Company registration number			        02350846 (England and Wales)
                                       Aisha Sheikh-Anene (Chair from July 2020)
                                       Chris Martin (Joined July 2019)                         Charity registration numbers			 England and Wales: 801130
                                       Siobhan Sheridan (Joined July 2019)                     							Scotland: SC 039714
                                       Steve Workman (Joined July 2019)                        Auditor						Buzzacott LLP
                                       Jonny Jacobs (Joined November 2019)                     							130 Wood Street
                                       Rosie Tressler OBE (Joined November 2019)               							London
                                       Narayanan Vaidyanathan (Joined November 2019)           							EC2V 6DL
                                                                                               Bankers						Coutts & Co
                                                                                               							440 Strand
Secretary					 John Tyson (Resigned November 2019)
						Adrian Lance (Appointed January 2020)
                                                                                               							WC2R 0QS
President					                         Professor Jacqui Dyer OBE (Appointed July 2019)         Investment managers				 CCLA Investment Management Limited
                                                                                               							COIF Charity Funds
Chair of the Friends of the Foundation Fiorella Massey                                         							Senator House
                                                                                               							85 Queen Victoria Street
Vice Presidents				 Lord Dholakia OBE PC DL
						Lady Euston
                                                                                               							EC4V 4ET
Senior Management Team 		              Mark Rowland, Chief Executive                           Solicitors						Bates Wells Braithwaite London LLP
                                       Anna Kingsley-Nyinah, Director of HR and Wellbeing      							10 Queen Street Place
                                       Antonis Kousoulis, Director for England & Wales
                                                                                               							EC4R 1BE
                                       Lee Knifton, Director for Scotland & Northern Ireland
                                       Sarah Tite, Director of Fundraising & Communication
      John Tyson, Director of Finance & Resources
						(Resigned November 2019)
						 Adrian Lance, Director of Finance & Resources
						(Appointed January 2020)

                                           4                                                                                     5
Making prevention                                                                                            Who we are
                                                                                               Our vision
                                                                                               Our vision is good mental health for all.

‘Prevention is better than cure’ is a mantra that we often hear extolled and
yet is rarely put into practice. In fact, we know the opposite is often true.                  Our mission
The vast majority of resources of government, civil society and even the                       To help people understand, protect and sustain their mental health.
private sector are directed towards investing in treating illness, finding                     Since 1949, the Mental Health Foundation has been the UK’s leading charity for
cures and managing the symptoms of ill health.                                                 everyone’s mental health.

The COVID-19 pandemic has shone a light        We need to move away from thinking              With prevention at the heart of what we do, we aim to find and address the
on how health is not simply an individual,     primarily about treating individuals or         sources of mental health problems so that people and communities can thrive.
medical issue. Good health is a collective     disorders, and focus on the skills and
endeavour which depends on each other          resources needed to create mentally
and a society that supports people to
thrive. With life expectancy stalling for
                                               healthy communities. It will require
                                               sustained and radical action nationally,
                                                                                               The practical things we do
the first time in a generation, we cannot      locally and individually if we are to achieve
afford, either socially or economically, to    a transformation for the next generation to
continue to ignore the causes of ill-health    reach their full potential.                                                                                         i
and expect to meet the health challenges
                                               That is our charitable focus – to achieve a
we face in the twenty-first century.                                                           1. Tell the world - why prevention is           3. Inform and empower - enable
                                               step change in the prevention of mental
With mental health, this is especially true.   health problems across the UK and support          fundamental to effectively addressing           mentally healthier lives through public
Our conviction is that the devastating         mentally healthier lives.                          the mental health crisis                        information and engagement
impact of mental health problems of all
                                               We have a cultural awakening and
kinds can be prevented.
                                               increased political and academic concern
When you consider that depression is           for mental health that makes this a better
already the leading cause of disability        time than any before to realise this vision.
in the world and you understand the                                                            2. Find solutions - innovate universal          4. Change policy and practice - build
                                               Coming out of a physical health crisis in
contribution that poor mental health also                                                         and targeted evidence-informed                  alliances and champion prevention
                                               COVID-19, in the coming year we aim to
makes to poor physical health, prevention                                                         community programmes for large                  in policies and changes to society
                                               lead a movement for change to focus on
in mental health should be a national and                                                         numbers of people, generating and               that are adopted by Government and
                                               how we build a mentally healthier society.
global priority.                                                                                  sharing evidence of what works in               organisations
                                               We want to empower individuals to find
                                                                                                  practice to prevent mental health
However, prevention requires empowering        a way of living that brings mental health
                                                                                                  problems, rooted in lived experience
individuals and communities to support         dividends not simply deficits.
their mental health. It needs bold action
                                               That will require us to reach out widely to
to address issues like poverty, racism,
                                               persuade people to come together to work
economic inequalities that mean some
                                               collectively towards good mental health for
in our society face much greater risk of
mental ill-health than others.

We hope we will look back on 2019/2020              at its heart which, if heeded, would see a       As the financial year drew to               This report sets out our work in
as a seminal year for the Mental Health             sustained reduction in levels and severity       a close, the Foundation came                more detail and we welcome the
In November 2019, the Foundation                    of mental ill-health and better mental           to terms with the COVID-19                  opportunity to work with new
celebrated its 70th year. It was a milestone        health for all.                                  pandemic. We moved quickly to               partners and donors who share
that bore witness to the dedication and                                                              close our three offices and protect         our vision and ambition for good
                                                    During the year, the executive have gone
passion that has driven the Foundation                                                               staff health.                               mental health for all.
                                                    to work to bring that vision to life through
in raising awareness and finding better
                                                    our ground-breaking research across              Due to the generosity of our
answers to support our mental health. We
                                                                   the UK, policy work and           supporters, we were able to play
were delighted to be joined
                                                                   applied work in prevention in     a full part in the national effort to
by our fantastic supporters,
                                                                   communities across the UK.        support the mental health of the
our staff and board as well
                                                                   Our subsidiary community          nation, developing one of the UK’s
as our patron HRH Princess
                                                                   interest company, Mental          leading COVID-19 information
Alexandra, president,                                                                                                                            AISHA SHEIKH-ANENE
                                                                   Health At Work, continues         hubs and launching a major new
Jacqui Dyer OBE and our                                                                                                                          Chair of Trustees
                                                                   to help businesses tackle         longitudinal study on the impact of
chair of the Friends of the
                                                                   stigma and enable                 COVID-19 on the UK population.
Foundation, Fiorella Massey.
                                                                   workplaces to address
It was a special privilege to                                                                        The Foundation has deepened its
                                                                   mental health. It was also a
meet family members of our                                                                           commitment to standing against
                                                                   year where we strengthened
founder Derek Richter to                                                                             racism and discrimination which
                                                                   our work and commitment
mark this occasion with us.                                                                          is so damaging to people’s mental
                                                                   in Wales, Scotland and
                                                                                                     health. We are striving to increase
But as well as celebrating                                         Northern Ireland.
                                                                                                     our own diversity as well as                MARK ROWLAND
our significant achievements
                                                                     Our work in public              creating a sense of real belonging          Chief Executive
of the past, we also took the
                                     Derek Richter founded our       engagement continues to         through support for our staff’s
opportunity to look forward.       organisation in 1949 to address grow. Our website is now          wellbeing.
After nine months of work           the imbalance in physical and    one of the UK’s leading sites
and thought, the Foundation            mental health funding.                                        Our financial position remains
                                                                     on mental health guidance
launched its new strategy,                                                                           strong and we are investing our
                                                                     and advice. When the
Making Prevention Happen.                                                                            surplus in responding to the mental
                                                     Foundation first launched Mental Health
                                                                                                     health needs of the UK population
See the full strategy on our website:                Awareness Week (MHAW), few would have
                                                                                                     and in line with delivering our                      envisaged how it has grown to a powerful
                                                                                                     ambitious new strategy for 2020-
                                                     UK-wide week of events that millions of
The strategy outlines our commitments                                                                2025. We are committed to
                                                     people get involved with. The 2019 theme
to achieve greater impact, influence and                                                             building a sustainable organisation
                                                     and report on Body Image addressed an
integrity in our work. It lays out a vision                                                          and a transformation in the
                                                     issue that is too often ignored but central
of a society which puts our mental health                                                            Foundation’s impact and reach.
                                                     to good mental health.

                                                8                                                                                            9
Trustees’ report                                                                        Our prevention
The trustees (who are also the directors of the charitable company for the purposes       Our strategy commits us to the development of prevention solutions – informed
of company law) present their statutory report together with the consolidated             by the best evidence. We’re placing this search for solutions in three key frames
financial statements of the Mental Health Foundation (the “Foundation”) and its
subsidiary (Mental Health at Work) for the year ended 31 March 2020.
The report has been prepared in accordance with Part VIII of the Charities Act 2011
and constitutes a directors’ report for the purpose of company legislation.                                                       FOR
The financial statements have been prepared in accordance with the accounting                                                 EVERYONE
                                                                                                                          Because we all have
policies set out on pages 42 - 46 of the attached financial statements and comply
                                                                                                                        mental health, and with
with the charitable company’s memorandum and articles of association, applicable                                         the right tools we can
laws and Accounting and Reporting by Charities: Statement of Recommended                                               protect and promote this
Practice (SORP) applicable to charities preparing their accounts in accordance                                           at every stage of life.
with the Financial Reporting Standard applicable in the United Kingdom and
Republic of Ireland (FRS 102).
The trustees confirm that they have had due regard to Charity Commission’s
guidance on public benefit.

                                                                                            Because the
                                                                                        levers that enable                                                      FOR
                                                                                      prevention are bigger                                               THOSE AT RISK
                                                                                       than individuals and                                              Because the risk and
                                                                                        communities. They                                              impact of mental health
                                                                                         require structural                                            problems is greatest for
                                                                                           changes in our                                               those who experience
                                                                                               world.                                                       inequality and

                                        10                                                                                       11
Our objectives
and achievements
 1         Improving our understanding of how to prevent
                                                                                                        2       Creating new evidence-based solutions
           mental health problems
Last year:                                                                                             Last year:
• We published seminal reports                         • We published a three-year evaluation          • We set up new projects across England              • We continued running a big pilot project
  summarising the evidence and knowledge                 of See Me, Scotland’s anti-stigma               and Wales working with population                    across southern Wales supporting
  on:                                                    programme, and presented at a                   groups who are at higher risk for mental             older people living in supported
     ͦ prevention and mental health                      conference of 100 delegates including           health problems, which included:                     accommodation to build connections
                                                         Scotland’s Minister for Mental Health.           ͦ young people whose parents live with              and communities.
     ͦ tackling social inequalities to address
       mental health problems.                         • We published our hard-hitting study on             mental health problems                          • We further developed our community
                                                         support for those bereaved by suicide in         ͦ refugees                                          leadership programme with refugees
• We published an important state-of-a-
                                                         Scotland.                                                                                            across Scotland.
  generation report, providing the latest                                                                 ͦ new university students
  evidence on the mental health of young               • We published academic articles and led                                                             • We established ‘We Can’ Scotland to
                                                                                                          ͦ communities of men who are isolated.
  people and how to prevent problems.                    a series of successful events marking the                                                            provide young people with long-term
                                                                                                       • We continued running our big peer
                                                         end of our four-year international CRISP                                                             health conditions a platform to show how
• In partnership with Public Health Wales,                                                               education project in secondary schools,
                                                         (Citizenship, Recovery and Inclusive                                                                 services can better meet their mental
  we published a co-produced report on                                                                   reaching over 20,000 students across
                                                         Societies Partnership) exchange with New                                                             health needs.
  the mental health of farmers and their                                                                 England, Wales and Scotland.
                                                         York, Yale and Illinois Universities.
  families, summarising the evidence on
  what programmes of support might work                • We launched ‘Empowering people
  for this population.                                   through physical activity’, a participatory
                                                         research project with Queen’s University

Plans for the year going forward:                                                                        Plans for the year going forward:
• We will publish a new important state-               and best practice in prevention, with            • We will set up a high-profile project,              protect their mental health in university.
  -of-a-generation report, providing the               Universities Scotland.                             licenced and adapted from the United              • We will set up a young leaders panel
  latest evidence on the mental health of             • We will publish reports from an exciting          States, called ‘Becoming A Man’ to                  and a research community of experts
  adults during key life transitions and how            new research collaboration with                   provide a psychologically informed                  by experience to ensure that lived
  problems can be prevented.                            Barnardo’s and Strathclyde University             approach to support boys and young                  experience informs all our work at all
• We will complete a research trial in                  on strategic partnerships for young               men who are experiencing challenges                 levels.
  Manchester assessing the efficacy of a                people’s mental health.                           and are at risk of being involved in youth
                                                                                                                                                            • We will develop our ‘Stress Less’
  digital mental health tool for prevention.                                                              violence.
                                                      • We will launch the large-scale youth                                                                  programme to support wellbeing during
• We will conduct comprehensive                         prevalence study for Northern Ireland           • We will scale our work with training                transitions to secondary schools for
  research on the impact of the COVID-19                with Ulster and Queens Universities.              refugees to be community leaders in                 young people.
  pandemic on mental health in the UK.                                                                    Wales.
                                                                                                                                                            • As joint lead partners we will help to
• We will lead a longitudinal study with                                                                • We will work with the University of                 renew our ‘See Me’ national anti-stigma
  all of Scotland’s 18 higher education                                                                   Sussex to co-produce resources and                  programme into a new five-year phase.
  establishments on student mental health                                                                 support programmes for young people to

                                                 12                                                                                                    13
Our objectives
and achievements
 3       Making practical support available                                                 4       Be an advocate for change
Last year:                                                                                 Last year:
• We made advice and support available              Scotland, which supported over 1000    • We published authoritative                         consistent advocate for the value of taking
  through our multiple digital channels in          people to access support.                recommendations for improving body                 a public mental health approach in all
  the form of articles, podcasts, blogs and                                                  image and mental health using measures             policies.
  campaigns.                                       • We continued to deliver our long-
                                                                                             in policy and practice.
                                                     standing refugee mental health                                                         • We co-chaired the Scottish government’s
• We offered a variety of self-help guides           programme, Community Conversation,    • We published a manifesto for the UK              policy group on body image and young
  in print and online, including publishing          in Scotland.                            government advocating for mental                 people and produced recommendations
  new suicide prevention advice to help                                                      health equality, analysed the positions on       for policy change.
  people know where to start when they             • We continued to host Voices of
                                                                                             mental health of all parties going into the
  want to support a loved one.                       Experience, Scotland’s national                                                        • We used our research to effectively
                                                                                             general election, and lobbied for increased
                                                     mental health service-user advocacy                                                      influence Scotland’s national suicide
                                                                                             attention to mental health through
• We continued as leadership partners                organisation supporting hundreds of                                                      prevention leadership group, to develop
                                                                                             meeting politicians and officers.
  in Future Pathways, a £13m fund for                members across Scotland.                                                                 and fund a new approach to support
  people who experienced abuse in care in                                                  • We responded to the Prevention Green             families bereaved by suicide.
                                                                                             Paper consultation and were a strong and

Plans for the year going forward:                                                           Plans for the year going forward:
• We will curate a world-leading page          • We will work with WWF-UK to publish       • We will advocate for a role for kindness in    • We will launch new research and a map to
  with diverse advice on looking                 a comprehensive guidebook for mental        public policy for Mental Health Awareness        present suicide risks across England and
  after your mental health during the            health aiming to raise awareness and        Week and publish comprehensive evidence          signpost local authorities to interventions.
  COVID-19 pandemic. It will include             open conversations about mental             on what kindness means.
                                                                                                                                            • We will develop a high-impact manifesto
  advice and support based on the latest         health issues, while recognising the
                                                                                           • We will continue our advocacy for improving      campaign for the Scottish parliamentary
  evidence, and articles co-produced by          increasingly important role that nature
                                                                                             the understanding around body image and          elections.
  people with lived experience, translated       plays in supporting positive mental
                                                                                             mental health for young people.
  in many languages spoken in the UK.            wellbeing.                                                                                 • We will take on the leadership of Scotland’s
                                                                                           • We will publish a briefing on the role of        Mental Health Partnership.
• We will publish a new “How to look
                                                                                             image-editing apps and how their negative
  after your mental health” guide,                                                                                                          • We will play an influential role in the
                                                                                             impacts on mental health can be mitigated.
  including new evidence-based solutions                                                                                                      formation of the Northern Ireland ten-year
  for protecting and promoting good                                                        • We will advocate for the UK to maintain          mental health strategy.
  mental health based on rigorous                                                            public mental health as a priority in any
  and transparent research led by our                                                        new national structures influenced by the      • We will lead the ‘More than just a condition’
  research team.                                                                             pandemic.                                        campaign for young people with long-term
                                                                                                                                              health conditions in Scotland to highlight
                                                                                           • We will work to influence local election         mental health during the pandemic.
                                                                                             manifestos to ensure a voice for mental

                                              14                                                                                           15
Fundraising &
    communications                                                                                           D O N AT I O N S & L E G A C I E S

OUR APPROACH TO FUNDRAISING                          Royal Patron                  Unrestricted donations form Trusts and         Legators
                                                     HRH Princess Alexandra        Foundations (greater than £1,000)
                                                                                                                                  We are grateful to all the people who
Supporters of the Mental Health                      The Hon Lady Ogilvy KG GCVO
                                                                                   Peacock Charitable Trust £27,000               chose to support the Foundation with
Foundation are at the heart of who we are
                                                                                   Hugh and Mary Miller Bequest £8,800            a gift in their Will. We have listed below
and what we achieve towards our vision of
                                                     Friends of the Foundation     Martin Charitable Trust £5,500                 all the legacies where a cash amount or
good mental health for all.
                                                                                   Salomon Oppenheimer Philanthropic              quantifiable notification of more than
                                                     Fiorella Massey (Chair)
                                                                                   Foundation £5,000                              £10,000 was received during the year
We are grateful not just for all the support         Claire Beecham                Scouloudi Foundation £3,000                    2019/20
given but also the trust that is being gifted        Sindy Capln                   White Oak Charitable Trust £2,000
to us with each donation we receive.                                                                                              Stephen Schick       £1,250,000
                                                     Michaela Caraffa              G M Morrison Charitable Trust £1,500
                                                                                                                                  Sheila Jane Talbot   £340,904
Every donation is helping to transform               Janie Critchley
                                                                                                                                  Walter Pearce		      £140,000
lives. We would like to extend our thanks to         Caroline Bettaney Cruddance
                                                                                                                                  Mavis Ramm		         £129,262
the following for their support.                     Georgina David
                                                                                                                                  Angela Mary Dunn     £100,000
                                                     Cindy Dawood
                                                                                                                                  Mary Jane Morrison £59,000
                                                     Marianne De Giorgio
                                                                                                                                  Margaret Wood        £54,217
                                                     Mary Fitter
                                                                                                                                  Evelyn Harrand       £52,000
                                                     Kate Glick
                                                                                                                                  John Stewart		       £21,189
                                                     Alison Goldberg
                                                                                                                                  Sally Marshall		     £19,000
                                                     Fiona Grunschlag
                                                                                                                                  John Bird		          £18,000
                                                     Susan Heller
                                                                                                                                  Desdemona Jeeps      £14,220
                                                     Candice Hurwitz
                                                                                                                                  J W Barnes		         £12,751
                                                     Vanessa Jossel
                                                                                                                                  Stella Mary Sanders £10,000
                                                     Marsha Lee
                                                     Jennifer Leigh
                                                     Maxine Leslau
                                                     Alison Lurie
                                                     Louise Nathanson
                                                     Riquita Newmark
                                                     Wendy Press,
                                                     Francesca Tait

                                                16                                                                           17
Fundraising &
                  PUBLIC & COMMUNITY FUNDRAISING                                                                           C O R P O R AT E P A R T N E R S H I P S

The Mental Health Foundation is committed to ensuring we uphold our duty of care                  At the heart of our work to expand our fundraising and engagement is an expansion of
to our supporters, and effective regulation lies at the heart of this. The Foundation’s           our corporate partnerships programme.
fundraising and communications sub-committee of the board continues to have
                                                                                                  Through our work with business, we look to achieve three things – Income, Impact, and
oversight the Foundation’s ethical policy and fundraising compliance.
                                                                                                  Insight. We are delighted to work with partners that want to raise money for us through
We seek to uphold the highest standards of fundraising both of our staff and of the               staff activities and reaching out to customers – but our interests are deeper than that.
organisations who work on our behalf. We are registered with the Fundraising Regulator            Our partnerships also enable us to get our message to staff, to customers and to the
and a member of the Institute of Fundraising as well as the Public Fundraising Operational        communities the business’ we serve.
Users Forum which oversees regulation of face-to-face activities. We have ensured that
                                                                                                  We spend a third or more of our life at work – workplaces have a key role to play in
effective whistle-blowing policies in place to ensure any poor practice is reported.
                                                                                                  protecting and improving our mental health. We’re delighted that partnerships often
We monitor calls and we train fundraisers about how to protect vulnerable people that             enable companies to start a mental health programme for staff, that can include adapting
they engage with, as well as having commercial participator agreements in place with              our evidence-based content, and bringing in the training and development programmes
corporate partners. Although we received no formal complaints this year, we continue              we offer directly and through Mental Health at Work, our thriving subsidiary that
to monitor concerns that don’t necessarily become complaints. We recognise the                    specialises in delivering tailored programmes to business.
importance of complying with data regulations while also ensuring we continue to
                                                                                                  This year we have worked with over twenty corporate partners in a range of different
innovate and invest for the future.
                                                                                                  sectors including financial services, fashion, media, recruitment, and hospitality. As we are
                                                                                                  a small team we can work in a personal way with our partners – tailoring partnerships to
Public fundraising                                Community fundraising                           meet the needs of small and large businesses.
We continue to engage by post, email              We continue to see a growth in income           Manolo Blahnik                                       XPS Group PLC
and phone as well as face-to-face with            from our community fundraising
hundreds of people across the UK. This            activities; bringing people together in their   In May 2019 we launched a partnership                XPS Pensions Group selected the
helps us engage with a wider audience             communities all having fun together and         with luxury fashion brand shoe Manolo                Foundation as its charity partner in January
and turn these conversations into action          raising vital money by holding fundraisers,     Blahnik. During Mental Health Awareness              2019. With 1200 staff in 15 locations across
by recruiting new regular supporters who          walking, running, playing music and eating,     Week 2019, Manolo Blahnik International              the UK, the business marked Mental Health
help contribute to a strong sustainable           with a shared belief that no one should face    raised funds through sales of green shoes            Awareness Week in offices across the UK
Foundation.                                       mental health problems alone.                   in their London Boutiques and by donating            by selling green ribbons, wearing green to
                                                                                                  in return for likes on their Instagram feed,         work, and by hosting Curry & Chaat and
                                                  We have also launched a new fundraising         with 3.2m followers. This was the start of an        Tea & Talk events. Alongside the fundraising
                                                  initiative, MHF Live. We recognise music as     ongoing partnership which has flourished.            events, we have also been supporting the
                                                  a powerful tool - not only can it lift moods,                                                        business in developing its mental health
                                                  but it can also help to break down stigma,                                                           programme, training over 150 managers in
                                                  encourage conversation and promote                                                                   the business and providing monthly content
                                                  positive mental health for all.                                                                      for the firm’s intranet.

                                             18                                                                                                   19
Fundraising &
                C O R P O R AT E F U N D R A I S I N G C O N T I N U E D                                                            C A M PA I G N S

Zizzi                                               We would like to thank the following     Mental Health Awareness Week (MHAW)
                                                    corporate partners, for their support,
In January 2020 we launched a major                                                          This MHAW proved to be the biggest yet in the 19 years we have hosted the campaign. This
                                                    direct and in kind.
national partnership with Italian restaurant                                                 year’s theme was body image – how we think and feel about our bodies. Our thoughts and
chain Zizzi, who hope to raise £1m for the          •   Agilent                              feelings about our bodies can impact us throughout our lives, affecting the way we feel
Foundation in a three-year partnership.                                                      about ourselves and our mental health and wellbeing.
                                                    •   Brakes
At the core of our partnership with Zizzi                                                    During the week we hosted a parliamentary reception to raise awareness of our research
                                                    •   XPS Group PLC                        report and policy asks among influential stakeholders and policy makers, including the
is the opportunity for every customer to
donate 25p to the Foundation as part every          •   Manolo Blahnik International         Minister for Mental Health, Inequalities and Suicide Prevention. The report helped lead to a
card transaction, working with Pennies, the                                                  parliamentary inquiry into reality TV, Scottish governmental action and a meeting with the
                                                    •   3MonkeysZeno
digital charity box.                                                                         Advertising Standards Authority.
                                                    •   Brookfield                           We also launched a new body image module as part of our Peer Education Project, which
This feature went live in October 2019
                                                    •   Pen Underwriting                     teaches young people in schools all about mental health, and shared 13 personal stories
and we have already had over 160,000
                                                                                             across the week bringing a new level of authenticity and warmth to our content.
donations this way – each one an                    •   BMS Group
opportunity to bring the charity to a new                                                    There was four times as much media presence as last year, and ten times as much as a
                                                    •   Autotrader                           few years ago, and major broadcasters supported the week – BBC/ITV, and The Guardian
person who could benefit.
                                                    •   The Yogscast                         published a mental health supplement.
                                                    •   Gatenby Sanderson                    Scottish Mental Health Arts Festival                  World Mental Health Day (WMHD)
                                                    •   Gallagher Group (Glasgow)            (SMHAF)                                               How do we help people to feel hopeful about
                                                                                             Now in its 13th year, the Scottish Mental             preventing suicide? That’s what we asked
                                                    •   Morton Mortgages
                                                                                             Health Arts Festival is one of Scotland’s             ourselves in the run-up to World Mental
                                                    •   Hearst Group                         biggest and most diverse cultural events,             Health Day on 10th October 2019, the
                                                    •   Nielsen                              encompassing film, theatre, literature, visual        theme of which was suicide prevention.
                                                                                             art, music, dance, storytelling and creative          To show people how they can personally
                                                    •   Zizzi                                workshops. Its unique approach ensures                help with suicide prevention we produced a
                                                    •   Interstate Hotels Group              it connects with audiences that other arts            ‘WAIT’ graphic and unveiled it at our ‘human
                                                                                             festivals often struggle to reach.                    green ribbon’ event in London’s Trafalgar
                                                    •   Travel Weekly
                                                                                             The annual festival that we lead took place           Square, on World Mental Health Day.
                                                    •   Withers LLP                          in May as part of MHAW, with over 300                  In Wales and Scotland, we marked
                                                                                             events across Scotland exploring the theme            World Mental Health Day by projecting
                                                                                             of ‘Connected’.                                       giant images of the green ribbon onto
                                                                                             This year the festival featured events                prominent buildings in Cardiff and Glasgow
                                                                                             with asylum seekers, travellers, the LGBT             respectively.
                                                                                             community, and families affected by suicide           In Glasgow, the projections included
                                                                                             and other traumatic events, in a wide-                messages about suicide awareness and
                                                                                             ranging programme that focused on the                 prevention.
                                                                                             importance of staying connected to each
                                                                                             other, and the impact of isolation on our
                                                                                             mental health.

                                               20                                                                                             21
Fundraising &
OUR YEAR IN NUMBERS                                                            communications
                                                                               D I G I TA L T R A N S F O R M AT I O N

                                                                               Digital Transformation
            over                                           over                Our new strategy requires our digital audience to grow from four to eight

40,000                                                   15
                                                                               million, our social community to grow to one million and total income to
                                                                               stabilise at £13m, underpinned by sustained digital income.
                                                                               To support this, we have created a strategic roadmap for digital to
                                                programmes working with        articulate what role it plays today, and the role it needs to play in delivering
Direct programme beneficiaries
                                                 vulnerable populations        the Foundation’s new strategy. By describing our digital ambition and
                                                                               establishing high-level objectives and goals for digital, we will have a better
                                                                               sense of what direction we need to take, how we should do this, and what
                                                                               our priorities will be (including a new website in 2021).

         773            Supporters fundraising for us at events

  Publications sold
                                                                  Cash gifts
                                    ribbons sold                  received

                      5,972,859                    Website hits

Financial review                                                                                                                   FINANCIAL REVIEW


The Foundation recorded a surplus of £6.1m compared to £4.5m the previous year.                           Expenditure – £6.5m (2019: £5.6m)
Income – £12.6m (2019: £10.1m)                       Due to the unprecedented increases in                The total expenditure increase of £0.9m was principally due to the increased activity of
                                                     unrestricted income, restricted income

The growth in the Foundation’s income                                                                     the subsidiary Mental Health at Work CIC as they increased their output combined with
                                                     was only 12% of total income in the current          increased investment into our information, education, dissemination and advisory service
was mainly due to the substantial increase
                                                     financial year, down from an average of              programmes.
in digital fundraising income which grew
                                                     30% across the preceding 5 years.
to £5.8m (£5.2m after adjusting for                                                                       The split of overall expenditure areas of the Foundation for 2020 and 2019 are shown
the under accrual from 2018/19). This                However, the Foundation still recognises             below.
growth continues to reflect the increased            the importance of this income stream and
importance of mental health and in                   hence we maintain good relationships with            Raising funds 22%                                                  MHAW CIC 10%
particular the Foundation’s approach of              all of our grant funders.
prevention.                                                                                                                                                                   FPLD (Learning
                                                     The split of overall income streams of the
Legacies again provided a significant                Foundation, from the average for 2014-              Information, education,            £6.5m                             Disabilities) 2%
                                                                                                         dissemination and advisory
income stream (£1.8m) with £1.25m of                 2018, through 2019 to the current year can          25%                                                                 Mental Health
this coming from the extremely generous              be seen below and shows the significant                                                 2020                            programmes 41%
bequeathment of Stephen Schick (£2.5m                impact of digital fundraising in the current
was received in the previous financial year).        year and legacies across the last two years.
Whilst our digital fundraising income
especially has driven the notable increase in
income overall, other areas of fundraising,                                                                                                                                 MHAW CIC 2%
events and individual giving especially,                                                                 Raising funds 26%
continue to deliver important revenue                                                                                                                                        FPLD (Learning
                                                                  £12.6m                                                                                                     Disabilities) 3%

                                                                                                         Information, education,
                                                                                                         dissemination and advisory
                                                                                   Other                 24%                                                                Mental Health
                                                                                                                                                                            programmes 45%

INCOME                                                                             Digital fundraising
DEVELOPMENT                                                                                               Staff costs increased by 24% driven by the same increase in employees as we continue to
                                                                                   Donations              invest in our staff base to drive forward our new five year strategy.
2014 - 2020 £m

                       2014-2018 average         2019              2020

                                                24                                                                                                   25
FINANCIAL REVIEW                                                                                     FINANCIAL REVIEW
                                         (continued)                                                                                         (continued)

Balance Sheet                                         be no less than three months expenditure       1. Office Purchases Fund		          £5.5m            Investment Policy
Net Assets £13.3m (2019: £7.2m)                       and therefore this is a more than adequate        Currently the Foundation leases offices
                                                                                                                                                          In light of the extremely generous donations
                                                      level of reserves.                                in all three of our locations which leads
The growth in the Net Assets is mainly                                                                                                                    we have had over the last two years, which
                                                                                                        to high on-going operations costs. The
reflected in the increase in cash balances            However, the trustees have decided that                                                             have given us significant surplus’ and
                                                                                                        Foundation has identified that we want
of £8.6m due to the continued generous                the Foundation should hold a specific                                                               hence a cash balance far in excess of what
                                                                                                        to move to offices that provide better
unrestricted donations which is partially             amount in readily available cash reserves                                                           is required under the reserves policy, the
                                                                                                        working environments and have decided
offset by the decrease in debtors of £2.1m,           due to the potentially uneven receipt of                                                            trustees have decided that an element of
                                                                                                        we should look to see if purchasing
principally due to legacy accruals (£2.8m).           funds from legacies and any other short-                                                            these should be invested.
                                                                                                        property would be the right option,
                                                      term cash necessity.
The total net assets are represented by                                                                 in terms of having an asset that will             The rationale for this is that trustees have a
unrestricted funds of £2.3m, restricted               As a result, in addition to a target of           secure its long term future, whilst taking        duty to use the charitable assets to further
funds of £1.0m, designated funds of                   minimum reserves the trustees have                account of potential changes to office            the charity’s aims, which in the case of
£10.0m, and permanent endowment funds                 decided to set a target level of cash             working post-COVID-19.                            financial investments will usually involve
of £45k which are to be held indefinitely by          reserves equal to at least three months’                                                            seeking the maximum return consistent
                                                                                                     2. COVID-19 Community Investment
the charity.                                          total expenditure based on liquid funds                                                             with commercial prudence whilst ensuring
                                                                                                        Fund        £2m
                                                      available for immediate use, this equates to                                                        a diversified portfolio.
                                                                                                        The impact of COVID-19 upon the
                                                                                                        public’s mental health is profound and            Therefore, the trustees have decided that
Reserves policy
                                                      Whilst the trustees recognise that the            unequal. The Foundation has decided               a mixed portfolio of property, investment
Charities hold reserves for a variety of              Foundation’s general reserves and cash            to invest £2m of its reserves over the            fund(s) and cash is suitable for the
reasons - to manage the charity’s resources           reserves, £12.1m as of 31st March 2020,           next 2 years to support communities               Foundation.
where income is subject to uncertainty in             are currently significantly above their           directly and disproportionately                   The selected investment fund needed to
terms of timing, to ensure that the charity           reserves policy, they anticipate that based       affected. The focus of this investment            be in line with the Foundation’s aims, whilst
has sufficient financial resources to meet its        on the planned designed fund usage,               is in programmes (interventions) whilst           providing a good risk/return profile.
upcoming liabilities, and to provide funds            detailed below, these will be used during         ensuring close links between the other
which enable the charity to take advantage            the strategy period, whilst enabling the          major areas of the Foundation’s work              Based on this the CCLA Charities Ethical
of new investment opportunities when they             Foundation to manage any impact from the          (policy, research, communications and             Investment Fund
arise.                                                coming period of economic uncertainty             fundraising).                                     ethical-investment was selected and up
                                                      highlighted above.                                                                                  to £5m invested during the financial year
In addition, given the forecasted impact                                                             3. Stephen Schick – Resourcing the                   2020-21 based on current forecasts.
of the COVID-19 pandemic and the UK’s                                                                   Strategy Fund £2.5m
exit from the EU, revenue streams could be                                                              With the implementation of the
                                                      Designated Fund Allocation
under significant pressure going forward,                                                               new strategy from 2020-2025, it
hence, a higher than usual reserve level will         The Foundation is in the fortunate position       has been identified that we need to
ensure we have stability for the coming               that we are able to allocate recent surplus’      invest in the Foundation to achieve
years.                                                to specific designated funds which                the strategic aims. Therefore, we have
                                                      will secure the long-term future of the           set aside £2.5m, which was from the
As noted above, the level of unrestricted
                                                      Foundation as well as being able to further       Stephen Schick Legacy to finance the
reserves at 31 March 2020 was £2.3m.
                                                      the strategic objectives of the Foundation.       strengthening regional presence of the
This represents about 4.3 months of
unrestricted expenditure. The trustees                Therefore, the designated funds have been         Foundation across the UK, to invest in
estimate that the charity’s reserves should           allocated to the following three areas:           fundraising, to develop programmes at
                                                                                                        scale, and to ensure the future financial
                                                                                                        and cultural sustainability of the
                                                 26                                                                                                  27
Structure,                                                                                          STRUCTURE, GOVERNANCE
                                                                                                                        AND MANAGEMENT

               governance &                                                                                                                 (continued)

Constitution                                        Trustee recruitment and appointment            Company law requires the trustees to                  The trustees are responsible for keeping
The Mental Health Foundation is                     The recruitment of trustees is carried out     prepare financial statements for each                 proper accounting records that disclose
constituted as a company limited by                 by the Governance Committee which              financial year which give a true and fair             with reasonable accuracy at any time
guarantee, Company Registration No.                 recommends individuals to be appointed         view of the state of affairs of the charitable        the financial position of the charitable
2350846 (England and Wales), and is a               by the Board as a whole. New trustees          company and the group and of the income               company and enable them to ensure that
registered charity, Charity Registration            are sought through a number of different       and expenditure of the charitable company             the financial statements comply with
Nos. 801130 (England and Wales) and SC              routes - from time to time trustee posts       and the group for that period.                        the Companies Act 2006. They are also
039714 (Scotland).                                  may be advertised.                             In preparing these financial statements, the          responsible for safeguarding the assets
The Group’s subsidiary, Mental Health At                                                           trustees are required to:                             of the charitable company and the group
Work CIC, is a company limited by shares,           Trustee induction and training                                                                       and hence for taking reasonable steps for
                                                                                                   • select suitable accounting policies and
Company Registration No. 10473373                                                                                                                        the prevention and detection of fraud and
                                                    New trustees’ induction is carried out by        then apply them consistently;
(England and Wales).                                                                                                                                     other irregularities.
                                                    the chair and chief executive and they are     • observe the methods and principles in
                                                    additionally invited to spend time with any                                                          Each of the trustees confirms that:
                                                                                                     Accounting and Reporting by Charities:
Members’ liability                                  department of the Foundation in which            Statement of Recommended Practice                   • so far as the trustee is aware, there is no
In the event of the charitable company              they are interested. Training is provided as     applicable to charities preparing their               relevant audit information of which the
being wound up during the period of                 required.                                        accounts in accordance with the                       charitable company’s auditor is unaware;
membership or within the year following,                                                             Financial Reporting Standard applicable               and
company members are required to                     Trustee Meetings                                 in the UK and Republic of Ireland (FRS              • the trustee has taken all the steps that
contribute an amount not exceeding £1.              The trustees must hold at least four Board       102);                                                 he/she ought to have taken as a trustee
                                                    meetings each year. In addition, the Board     • make judgements and estimates that are                in order to make himself/herself aware
Trustees                                            has four sub-committees which usually            reasonable and prudent;                               of any relevant audit information and to
                                                    meet quarterly: Finance & Resources,                                                                   establish that the charitable company’s
The trustees constitute directors of the                                                           • state whether applicable United
                                                    Fundraising & Communications, Delivery &                                                               auditor is aware of that information.
charitable company for the purposes of                                                               Kingdom Accounting Standards have
the Companies Act 2006 and are also                 Development and Governance.                      been followed, subject to any material              This confirmation is given and should
members of the charitable company.                                                                   departures disclosed and explained in               be interpreted in accordance with the
                                                                                                     the financial statements; and                       provisions of s418 of the Companies Act
Trustees are appointed for an initial               Statement of trustees’ responsibilities
three-year term and may be re-elected               The trustees (who are also directors of the    • prepare the financial statements on
for a further two three-year periods. In                                                             the going concern basis unless it is                The trustees are responsible for the
                                                    Mental Health Foundation for the purposes
exceptional circumstances the board may                                                              inappropriate to presume that the                   maintenance and integrity of the corporate
                                                    of company law) are responsible for
resolve that a trustee may serve one further                                                         charitable company will continue in                 and financial information included on the
                                                    preparing the trustees’ report and financial
term of a maximum of three years. At any                                                             operation.                                          charitable company’s website. Legislation
                                                    statements in accordance with applicable
one time there must be a minimum of three                                                                                                                in the United Kingdom governing the
                                                    law and United Kingdom Accounting
trustees                                                                                                                                                 preparation and dissemination of financial
                                                    Standards (United Kingdom Generally
                                                                                                                                                         statements may differ from legislation in
                                                    Accepted Accounting Practice).
                                                                                                                                                         other jurisdictions.

                                               28                                                                                                   29
                   STRUCTURE, GOVERNANCE
                                                                                                                             AND MANAGEMENT
                      AND MANAGEMENT

Management arrangements                               Remuneration policy                               Projects are delivered through a                    either have been, or will be, taken in
The trustees delegate the management                  The Mental Health Foundation is                   combination of in-house and external                mitigation.
of the Foundation to the staff team led               committed to ensuring a fair and equal            research, practice development,                     The on-going impact of COVID-19 has
by the chief executive and the senior                 remuneration process for all staff so             publications and other dissemination                changed the nature of some risks and
management team (SMT). The chief                      that we can ensure all staff are paid             activities. Projects are supported by               highlighted new ones. Some of these risks
executive has been in place since October             appropriately for the work they do for us.        advisory committees of experts, if required.        have been more short-term in nature,
2018 and the full current SMT has been in             The key management personnel of the               The Foundation has well-developed links             e.g. how we move overnight from an
place since January 2020.                             charity comprise the trustees and the             with central government, the Scottish               organisation that is office based to one
                                                      senior management team (SMT). The                 and Welsh governments, health, local                that is remotely based and are being
Appointment policy                                    overall responsibility of the charity lies with   government, housing and social services             managed, whilst others will prove to be
The Mental Health Foundation is an                    the trustees who have delegated the day-          bodies across the United Kingdom, as well           more enduring. The Foundation is in
equal opportunities employer and applies              to-day management of the charity to the           as professional bodies, academic research           the fortunate position that the impact
objective criteria to assess merit. It ensures        SMT.                                              centres and voluntary sector organisations.         on income felt by so many of our peer
that no job applicant or employee receives            Responsibility for setting salaries for the       It is committed to partnership work                 organisations has not been felt in the same
less favourable treatment on the grounds              CEO and members of the SMT rests with             wherever this will maximise effectiveness           way so the need for short-term financial
of age, race, colour, nationality, religion,          the trustees; responsibility for setting other    and impact.                                         business continuity adjustments has not
ethnic or national origin, gender, marital            salaries has been delegated to the SMT and        The Foundation has working relationships            be necessary, although we will continue to
status, sexual orientation or disability.             CEO.                                              with many organisations, as described               monitor this going forward.
Selection criteria and procedures                     The Foundation implemented a pay and              above. These are carefully curated in order         The principal risks currently facing the
are reviewed regularly to ensure that                 benefits system in 2016 which provides            to add value to the nature and content of           organisation are:
individuals are appointed and promoted                a clear structure for salaries for new            the programmes as effectively as possible.
                                                                                                                                                            • Reputation and trust, including GDPR
on the basis of their relevant merits and             appointments and for salary progression                                                                 and fundraising regulation contravention
abilities.                                            for existing staff as well as clear criteria      Risk management                                       and other legal claims
                                                      for evaluating and benchmarking new and           The senior management team takes the
                                                                                                                                                            • Failure to ensure the health and
Wellbeing, Diversity and Inclusion                    changing roles for equitable pay.                 lead in reviewing the key risks facing the
                                                                                                                                                              wellbeing of employees especially during
The Foundation is dedicated to the holistic                                                             Mental Health Foundation on a regular
                                                                                                                                                              the COVID-19 crisis but also relating to
wellbeing of colleagues and provides both             Pension arrangements                              basis, after considering input from across
                                                                                                                                                              wider issues and beyond
traditional and bespoke support for staff             The Foundation operates a non-                    the organisation. These are documented
such as an employee assistance scheme                                                                   in a risk register, which is reviewed by the        • Failure to deliver on the new strategic
                                                      contributory individual money-purchase
and in-house training for managers on                                                                   finance and resources committee and                   plan
                                                      scheme for all eligible members of staff,
mental health in the workplace. We are                contributing 10% of pensionable salary            approved by the trustees at least annually.         • A vulnerable person is exploited or
deepening our understanding of how to                 to each employee’s fund. Employees can            The risk register is updated to reflect               harmed
fully embrace and celebrate all differences           additionally choose to make employee              recent operational and financial                    The plans and strategies for managing
in our people and striving to create a                contributions to their pension. The scheme        developments, strategic annual                      these risks are:
sense of real belonging. A staff-informed             is fully compliant with auto-enrolment            organisational objectives, and changes in           • Comprehensive induction process
process of continuous improvement is at               regulations.                                      the external environment. Each risk item              where all staff are trained on all legal
the heart of developing action plans that                                                               is analysed according to its perceived                requirements and the Foundation’s
demonstrate these commitments and                                                                       potential impact and likelihood of                    values. Enhanced cybersecurity
we have recently signed up to the race at                                                               occurrence, together with actions that                processes including information security
Work Charter and the Disability Confident
                                                      Project delivery
                                                 30                                                                                                    31
                      AND MANAGEMENT

  policies and procedures and advanced                   been strengthened in the leadership
  email protection.                                      team within the organisation but also
• Communication to and feedback from                     by the recruitment of a number of new
  staff on plans and strategies during the               trustees
  COVID-19 pandemic. Review of what                  • Throughout the year as the
  provisions employees need with the new               understanding of the important
  working arrangements. As offices have                digital fundraising revenue stream has
  been reopened full risk assessments,                 developed, we have ensured we are
  consultation and implementations plans               engaging with donors and understanding
  have been in place.                                  how we can try and sustain this for the
• Regular review by the senior                         long term.
  management team and trustees of                    •
  progress against the strategic plans.              The trustees have confirmed that there
  Clear identification of internal and               are procedures in line with key risks
  external risks and issues as they arise            and other identified risks to prevent or
  and flexibility of approach. Careful               manage their effects. These procedures
  communications strategy with                       include implementation of control systems
  contingency arrangements.                          and processes throughout the entire
• Our safeguarding policy includes                   organisation, the transfer of risk to external
  provision for a designated safeguarding            insurers, and the management of risks that
  officer who has responsibility for                 cannot be avoided.
  ensuring all staff who have contact with
  vulnerable adults and children are aware
                                                     Approved by and signed on behalf of the
  of their responsibility under the policy
  and the law.
Relating to the principal risks listed last
year these are the main actions the charity
has taken:
                                                     AISHA SHEIKH-ANENE
• The new five-year strategy has been
  implemented following staff and other              Chair of Trustees
  stakeholder consultation including the
  vision and mission and our new aims and
  values.                                                                                             Image: As part of our World Mental Health Day events, we formed a ‘human green ribbon’ in Trafalgar Square
• The stewardship of the Foundation has

Independent                                                                                               INDEPENDENT AUDITOR’S REPORT

       auditor’s report                                                                                                                       (continued)


We have audited the financial statements            Basis for opinion                                 Other information                                    Opinions on other matters prescribed by
of the Mental Health Foundation (the
                                                    We conducted our audit in accordance                                                                   the Companies Act 2006
                                                                                                      The trustees are responsible for the
‘charitable parent company’) and its
                                                    with International Standards on Auditing          other information. The other information             In our opinion, based on the work
subsidiary (the ‘group’) for the year ended
                                                    (UK) (ISAs (UK)) and applicable law. Our          comprises the information included in                undertaken in the course of the audit:
31 March 2020, which comprise the group
                                                    responsibilities under those standards            the Annual Report and Consolidated
statement of financial activities, the group                                                                                                               •   the information given in the trustees’
                                                    are further described in the auditor’s            Financial Statements, other than the
and charitable parent company balance                                                                                                                          report, which is also the directors’
                                                    responsibilities for the audit of the financial   financial statements and our auditor’s
sheets, the group statement of cash                                                                                                                            report for the purposes of company law
                                                    statements section of our report. We are          report thereon. Our opinion on the financial
flows, the principal accounting policies                                                                                                                       and includes the strategic report, for
                                                    independent of the group in accordance            statements does not cover the other
and the notes to the financial statements.                                                                                                                     the financial year for which the financial
                                                    with the ethical requirements that are            information and, except to the extent
The financial reporting framework that                                                                                                                         statements are prepared is consistent
                                                    relevant to our audit of the financial            otherwise explicitly stated in our report,
has been applied in their preparation                                                                                                                          with the financial statements; and
                                                    statements in the UK, including the FRC’s         we do not express any form of assurance
is applicable law and United Kingdom                                                                                                                       •   the trustees’ report including the
                                                    Ethical Standard, and we have fulfilled our       conclusion thereon.
Accounting Standards, including Financial                                                                                                                      strategic report has been prepared
                                                    other ethical responsibilities in accordance
Reporting Standard 102 ‘The Financial                                                                 In connection with our audit of the financial
                                                    with these requirements. We believe that                                                                   in accordance with applicable legal
Reporting Standard applicable in the UK                                                               statements, our responsibility is to read
                                                    the audit evidence we have obtained is                                                                     requirements.
and Republic of Ireland’ (United Kingdom                                                              the other information and, in doing so,
                                                    sufficient and appropriate to provide a
Generally Accepted Accounting Practice).                                                              consider whether the other information is
                                                    basis for our opinion.
                                                                                                      materially inconsistent with the financial           Matters on which we are required to report
In our opinion, the financial statements:
                                                    Conclusions relating to going concern             statements or our knowledge obtained                 by exception
•   give a true and fair view of the state                                                            in the audit or otherwise appears to be
                                                    We have nothing to report in respect of the                                                            In the light of the knowledge and
    of the group’s and of the charitable                                                              materially misstated. If we identify such
                                                    following matters in relation to which the                                                             understanding of the group and the
    parent company’s affairs as at 31 March                                                           material inconsistencies or apparent
                                                    ISAs (UK) require us to report to you where:                                                           charitable parent company and its
    2020 and of the group’s income and                                                                material misstatements, we are required
    expenditure for the year then ended;            •   the trustees’ use of the going concern        to determine whether there is a material             environment obtained in the course of
                                                        basis of accounting in the preparation        misstatement in the financial statements             the audit, we have not identified material
•   have been properly prepared in                                                                                                                         misstatements in the trustees’ report
                                                        of the financial statements is not            or a material misstatement of the other
    accordance with United Kingdom                                                                                                                         including the strategic report.
                                                        appropriate; or                               information. If, based on the work we
    Generally Accepted Accounting
    Practice; and                                   •   the trustees have not disclosed in the        have performed, we conclude that there               We have nothing to report in respect of the
                                                        financial statements any identified           is a material misstatement of this other             following matters in relation to which the
•   have been prepared in accordance with                                                             information, we are required to report that          Companies Act 2006 and the Charities
                                                        material uncertainties that may cast
    the requirements of the Companies                                                                 fact.                                                Accounts (Scotland) Regulations 2006 (as
                                                        significant doubt about the group’s or
    Act 2006, the Charities and Trustee                                                                                                                    amended) requires us to report to you if, in
                                                        the charitable parent company’s ability       We have nothing to report in this regard.
    Investment (Scotland) Act 2005 and                                                                                                                     our opinion:
                                                        to continue to adopt the going concern
    regulation 8 of the Charities Accounts
                                                        basis of accounting for a period of at
    (Scotland) Regulations 2006 (as
                                                        least twelve months from the date when
                                                        the financial statements are authorised
                                                        for issue.

                                               34                                                                                                     35
INDEPENDENT AUDITOR’S REPORT                                                                       INDEPENDENT AUDITOR’S REPORT
                                         (continued)                                                                                       (continued)

                                                                                                                                    USE OF OUR REPORT

•   proper and adequate accounting                    preparation of financial statements that are   A further description of our                    To the fullest extent permitted by
    records have not been kept by the                 free from material misstatement, whether       responsibilities for the audit of the           law, we do not accept or assume
    charitable parent company, or returns             due to fraud or error.                         financial statements is located on the          responsibility to anyone other than the
    adequate for our audit have not been                                                             Financial Reporting Council’s website at        charitable company and the charitable
                                                      In preparing the financial statements,
    received from branches not visited by                                                          company’s members as a body, for our
                                                      the trustees are responsible for assessing
    us; or                                                                                           This description forms part of our              audit work, for this report, or for the
                                                      the group’s and the charitable parent
                                                                                                     auditor’s report.                               opinions we have formed.
•   the charitable parent company financial           company’s ability to continue as a going
    statements are not in agreement with              concern, disclosing, as applicable, matters    This report is made solely to the
    the accounting records and returns; or            related to going concern and using the         charitable company’s members, as a
                                                      going concern basis of accounting unless       body, in accordance with Chapter 3 of
•   certain disclosures of trustees’
                                                      the trustees either intend to liquidate the    Part 16 of the Companies Act 2006
    remuneration specified by law are not
                                                      group or the charitable parent company         and to the charity’s trustees as a body,
    made; or
                                                      or to cease operations, or have no realistic   in accordance with Section 44(1)(c) of          Amanda Francis
•   we have not received all the information          alternative but to do so.                      the Charities and Trustee Investment            Senior Statutory Auditor
    and explanations we require for our                                                              (Scotland) Act 2005 and Regulation
    audit; or                                                                                        10 of the Charities Accounts (Scotland)         For and on behalf of Buzzacott LLP,
                                                      Auditor’s responsibilities for the audit of    Regulations 2006.                               Statutory Auditor
•   the trustees were not entitled to
                                                      the financial statements                                                                       130 Wood Street
    prepare the financial statements in                                                              Our audit work has been undertaken
    accordance with the small companies               Our objectives are to obtain reasonable        so that we might state to the charitable        London
    regime and take advantage of the small            assurance about whether the financial          company’s members those matters                 EC2V 6DL
    companies’ exemptions in preparing                statements as a whole are free from            we are required to state to them in
    the trustees’ report and from the                 material misstatement, whether due to          an auditor’s report and for no other            Buzzacott LLP is eligible to act as an
    requirement to prepare a strategic                fraud or error, and to issue an auditor’s      purpose.                                        auditor in terms of section 1212 of the
    report.                                           report that includes our opinion.                                                              Companies Act 2006.
                                                      Reasonable assurance is a high level of
                                                      assurance, but is not a guarantee that
Responsibilities of trustees                          an audit conducted in accordance with
As explained more fully in the trustees’              ISAs (UK) will always detect a material
responsibilities statement, the trustees              misstatement when it exists. Misstatements
(who are also the directors of the charitable         can arise from fraud or error and are
company for the purposes of company                   considered material if, individually or in
law) are responsible for the preparation              the aggregate, they could reasonably
of the financial statements and for being             be expected to influence the economic
satisfied that they give a true and fair view,        decisions of users taken on the basis of
and for such internal control as the trustees         these financial statements.
determine is necessary to enable the

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