MQ: TRANSFORMING MENTAL HEALTH
Financial health, per its FY2024 accounts
The accounts state that total income increased to £4.28m from £3.48m in the prior year, driven by diversified income streams including new partnerships and Wellcome Trust funding. Free unrestricted reserves stood at £1.02m, which the trustees confirm is equivalent to six months of expenses based on the 2025 budget, meeting their stated reserves policy.
What the accounts disclose
“The policy requires MQ Mental Health Research to hold reserves (unrestricted funds) to cover a minimum of six month’s expenses, based on the annual budget as agreed by the Board. This was set at £1.01m based on the 2025 budget excluding fixed assets.”
“In 2024 MQ Foundation provided grants totalling £437,779 (2023: £531,613) to MQ.” — page 43
Structured financials (annual return, FY ending 31/12/2025)
Trustees
- Shahzad Malikchair
- Fabrizio Campelli
- James Edwin Palmer
- John A Herrmann Jr
- Michael John Horvitz
- Professor Ann John
- Professor Catherine Jane Harmer
- Professor Rory O'Connor
- Sarah Woolnough
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2025 | £3.5m | £3.2m |
| 31/12/2024 | £4.3m | £3.2m |
| 31/12/2023 | £3.5m | £2.6m |
| 31/12/2022 | £3.5m | £2.7m |
| 31/12/2021 | £1.9m | £2.1m |
Common questions
Is MQ: TRANSFORMING MENTAL HEALTH financially healthy?
The accounts state that total income increased to £4.28m from £3.48m in the prior year, driven by diversified income streams including new partnerships and Wellcome Trust funding. Free unrestricted reserves stood at £1.02m, which the trustees confirm is equivalent to six months of expenses based on the 2025 budget, meeting their stated reserves policy. Its FY2024 accounts were audited by Moore Kingston Smith LLP.
Who funds MQ: TRANSFORMING MENTAL HEALTH?
Funders whose own accounts filings name MQ: TRANSFORMING MENTAL HEALTH as a grant recipient include THE VIRGIN FOUNDATION, THE STONEYGATE TRUST, THE CHERUBY TRUST.
Known funders
| Funder | Year | Amount |
|---|---|---|
| THE VIRGIN FOUNDATION | FY2024 | £75k |
| THE STONEYGATE TRUST | FY2023 | £57k |
| THE STONEYGATE TRUST | FY2022 | £19k |
| THE CHERUBY TRUST | FY2025 | £3k |
| THE CHERUBY TRUST | FY2024 | £2k |
| THE CHERUBY TRUST | FY2023 | £2k |
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| FRIENDS OF THE YEATMAN HOSPITAL | 1 | £78k |
| THE ROYAL FOUNDATION OF THE PRINCE AND PRINCESS OF WALES | 1 | £10k |