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RICE
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for the Care of Older People
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RICE

The Research Institute for the Care of Older People

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Annual Report and Financial Statements for the year ending 31 December 2021

Registered charity number: 1042559 Registered company number: 2979617

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Contents

Trustee Report

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|||||||||| |---|---|---|---|---|---|---|---|---| |General|information|...ccceesessescceesecccccnenenseessecenennenmnnnneeessewunnecmernecnenanyseseqeuarrmenacians||| |Welcome from|the|Chaiit.ss.sscscccecsernieransenscnnenecseransennennrseesessumeanenaurensnnannececsennnnens|4| |OUP|PUTPOSC.sessessessenrsessneennernersnenursecsursarsensensenesneennesoeunersuesuesansacscunsunensnamenazuannessents 5| |Our impact over the years .....scccnssseeseeseeenenmmnseennnrarsensennrausansnanrccsanennnnenanennenens|7| |Our impact|in|PODS|scaccsececeossesevesoisecsusinsiuussvdausevinnnrsianseiuariacsussuntsvenseruesecsnnressnssens|bid| |Our FUEL|PLANS|...-.:seecerssnsnecseenesseeneenenencnnnaensesseecenmanntannsaneamersecsunrarimeranranscnenenns|15| |FINANCIal|FEVICW|cesssecseesseccnnsenesecsnenscsesseecuenmnrsmenueenseseecmennensunnnnnaueneesneeaernnnmnnaessoss®|15| |Structure,|Governance ANd MANAGEMENL|......ceeeeesseeerseecneeneeenenmennnsnestssnennsranteney|18| |Trustee's responsibilities in relation to the financial|StateMentS rss|20| |Independent|Auditor's|Report to|the|Members|of RICE|— The|Research|Institute| |for the Care|of Older People|....csscssssessssseeseeenssennceseesseceneenssanuaneeeesesseseaneanenmennnas|21|

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Financial Statements

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||||||||| |---|---|---|---|---|---|---|---| |Statement|of|financial|ACtiVITIES. cccecsneeeeeseeeeenenenenneneeeeeeseeerenenerrne|e|nterenenneenssaanaees 24| |Balance|ee|ie|er|ne|ema|et|Lee 25| |Cash|flow|StateMment.....ccccccsssssssesscessesenssnnnneesmeenscensnnenmeenmesuennecenssosemmenerennanerensecens|26| |Analysis of changes|in|Net Debt ..csssssssecsesssesanennesuneseesesnnnennnenseanncnnsneserenensnnannane®|26| |ACCOUNTING|POLICICS.....ecsscseeeessennennnenneesseesneennenenanccaunnessoneamenenanensunamenenenseansanseeny|27| |Notes to the|Financial|Statement|scccesssscenenceseresssneenessnnunersceuuersensnsaneanerarsneesernns|29|

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i RICE Annual Report and Financial Statements 2021

General information

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As at 31 December 2021:

RICE is a registered charity in England and Wales. Registered charity number: 1042559. RICE is a registered company limited by guarantee. Registered company number: 2979617.

Principal address and registered office The RICE Centre

Royal United Hospitals Combe Park, Bath BA1 3NG F Patron Lady Pratchett Vice Presidents Sir Tony Robinson Professor Gordon Wilcock Dr Bruno Bubna-Kasteliz , Rt Hon John Jolliffe Trustees The following, who are also Directors of the Company, serve on the Board of Trustees: Dr Chris Dyer (Chair, outgoing) Professor Kevin Edge (Resigned 23.06.2021) Dr Matt Jelley : (Resigned 03.02.2022) Mr lan Turner (Resigned 04.11.2021) Mr Ben Jones Dr Robin Fackrell Dr Mark Kingston (Chair, incoming) “me: Professor Patrick Kehoe Mrs Sarah James Key management personnel Professor Roy Jones, Director (Until 31.01.2022) | Melissa Hillier, CEO (From 01.02.2022) Dr Tomas Welsh, Deputy Director (Research & Medical Director, from 01.02.2022) SolicitorsStone King LLP a : 13 Queen Square, Bath BA1 2HJ

Principal Bankers Barclays Bank 4-5 Southgate, Bath BA1 1AQ

Auditors Moore 30 Gay Street, Bath BA1 2PA ee eae ee mri

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Welcome from the Chair

1am pleased to present our Annual Report and Fina ncial Statements for 2021. When the year began, RICE was recovering from the impacts of the first 10 months of the coronavirus pandemic and the challenges caused by the associated shutdowns and restrictions; the consequences of the pandemic have continued to be an undercurrent throughout 2021. Whilst the majority of our activities have returned to normal, it has heen difficult to run face-to-face activities and the disruption to our research pipeline has been longerlasting then we initially hoped. Additionally, despite our best efforts, patients have been waiting longer than we would like to be seen in our memory clinic. .

Despite these challenges, the year has been productive. We've embarked on several new Clinical trials and research projects with a variety of collaborative partners across the country as well as closer to home with the Royal United Hospitals. These trials have been wide-ranging and included research related to Covid-19, Parkinson’s disease, as well as Alzheimer's disease and other dementias.

We were also delighted to be given the highest rating of Outstanding from the Care Quality Commission, who came to inspect our memory clinic service in November. The Commission praised us for the delivery of “an exceptional, innovative service”, and the team at RICE were recognised by the Commissionas being experts in the field of dementia, diagnosis, treatment and care. Itisa huge accolade for RICE to receive this rating and is a true testament to the hard worl and dedication of our team over many years. This year we have also been planning for the future, and 2022 will result in changes within our staff and trustee team. Our Director, Professor Roy Jones, after 37 years of leading RICE will be stepping down and retiring in 2022, although he has kindly agreed to continue to be involved in our work in an honorary role as President. Without Roy's tireless efforts and substantial knowledge and relationships it would not have been possible to grow RICE to the size it is today and to have had the impact we have had to date. | know the whole team at RICE and our supporters and patients wish him all the very best with his much-deserved retirement plans. Our research and clinical activities will now be directed by our current Deputy Director, Dr Tomas Welsh who will become Research and Medical Director whilst RICE will be led by a new CEO, Melissa Hillier, who joined RICE in early 2022. Melissa has considerable experience in the charity sector and we're looking forward to working with her on this new chapter for RICE.

After 20 years as a trustee, | will also be stepping down in 2022. A new Chair has been elected within the current trustee team and Dr Mark Kingston will kindly take over in early 2022 so that there can be a handover period before | depart at the end of 2022. It has been a great pleasure to have been involved in RICE and to watch it grow and develop, and to see the impact that our work has had on our patients and their families and on improving life for people with dementia everywhere. I’m confident that the trustee team will continue to govern and fulfil their roles as stewa rds of RICE and its resources, ensuring that everything we do is for the benefit of our patients and their families together with the goal through our research of improving health and quality of life for everyone as they get older.

As Chair of the Board of Trustees | have long been and remain proud of the commitment and dedication which everyone brings to RICE. | would like to thank our staff, trustees and volunteers for all their efforts, hard work and enthusiasm. | would also like to thank our Patron and Vice Presidents for their ongoing support and all our funders and donors, and research and service partners for their support throughout the year. And, finally | would like to thank our patients and their families - without your willingness to be involvedhe contributions you have made, our vital work would not be possible.

Dr Chris Dyer, Chair, outgoing

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Our purpose

RICE’s charitable objects as set out in its Articles of Association is: “To relieve sickness and to promote and advance medical knowledge in particular without limitation by reference to all aspects of the care of older people and to undertake research in relation thereto and to publish the useful results of such research.”

The aim of RICE is to help people live as well as possible for as long as possible by reducing the impact of health problems in old age. In the past our focus has mainly been on Alzheimer’s disease and other forms of dementia. More recently, whilst we have continued to seek better care and treatment and ultimately a cure for dementia, we are also researching other chronic conditions in older age such as Parkinson’s disease, worsening muscle and bone health and their connections to dementia. This expansion in our focus will enable RICE to contribute even more to the understanding of health problems in old age and to share the knowledge we gain to improve older peaple’s health — this being the purpose of our charity.

Why RICE is needed We all hope to live full and long lives and to stay healthy. Improvements in standards of living and in the diagnosis and treatment of many diseases mean that people are living for longer, but as a result more people are developing multiple and complex diseases in their later years. As we age many people develop neurodegenerative conditions which cause progressive problems with memory, thinking, planning, perception, and physical health, all of which greatly impact on the quality of our day-to-day life and that of our family and loved ones.

Thirty-seven years ago in 1985, RICE began its work in direct response to the urgent need to improve care for, and the quality of life of, older people everywhere and to find better care and treatment options. * Alzheimer’s disease and other dementias were identified as important conditions worthy of our expertise and attention. There are around 850,000 people currently living with some form of dementia in the UK, and this is expected to rise to 1.6 million by 2040.) In the UK, dementia is already the leading cause of death for women and the second leading cause of death for men.’ Currently there is no cure.

The dementias are devastating diseases which involve much more than just memory problems. The conditions often cause disorientation, confusion, anxiety and agitation as well as other problems sometimes such as language and visual difficulties. People become increasingly frail and the majority will also have, or will develop, other health conditions that create additional ill health and complications. People living with dementia can also experience social isolation and financial difficulties due to the disease. The impact of dementia goes far beyond the person living with the disease, impacting on family and friends who are forced to watch their loved one deteriorate. Caring for someone with dementia can be traumatic, exhausting, stressful and emotionally draining, pa rticularly when care is taken on by an older family member. Care can be emotionally and financially costly for carers who may have to give up work and social activities.

Dementia has higher health and social care costs than cancer and chronic heart disease combined.’ The total cost of care for people with dementia in the UK is £35 billion per year and this is expected to rise to £94 billion by 2040.4 Despite this, dementia research receives less funding than other health conditions and new and improved treatments have been slow to develop — no new dementia drug treatments have been licensed in the UK since 2002. Drug treatments that are available are mainly for Alzheimer’s disease and of limited efficacy and there are no specific treatments whatsoever for several other types of dementia.

People living with dementia are affected by other health conditions. Living with two or more long-term health conditions is called multimorbidity. Multimorbidity is associated with low quality of life and often

¢ https://www.alzheimers.org.uk/about-us/policy-and-influencing/dementia-scale-impact-numbers (accessed 09/12/2020) ? hitps://www.dementiastatistics. orp/statistics/prevalence-by-gender-in-the-uk/ (accessed 09/12/2020) > https://www.dementiastatistics.org/statistics/cost-and-projections-in-the-uk-and-globally/ (accessed 09/12/2020) z & https://www.alzheimers.org.uk/about-us/policy-and-influencing/dementia-scale-imp act-numbers (accessed 09/12/2020) Neeeeee nS a

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results in a person requiring intensive support from health and care services. Most people living with dementia are affected by multimorbidity, yet services are mostly designed to treat a single disease rather than treat multiple, complex conditions.° Research suggests that people living with dementia may be affected by around five other health problems such as falls, osteoarthritis, diabetes, stroke, osteoporosis and heart failure.® Treating these conditions becomes more complicated when a person also has a cognitive impairment caused by dementia or another condition such as Parkinson’s disease. There is an urgent need to better understand multimorbidity, how it interacts with dementia and impacts on patients andtheir =~ families, and how services can better treat multiple, complex conditions in older age.’

There are also around 145,000 people currently living with Parkinson's disease in the UK, and this is expected to rise to 200,000 by 2035 — it is the fastest growing neurological condition in the world.® CurrentlyParkinson'stherediseaseis noiscure. the second— most common neurodegenerative disease after Alzheimer’s disease”

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Parkinson’s disease is a destructive disease, causing progressive damage to the brain. This damage causes a variety of physical, psychological and cognitive changes including body tremors, problems with movement and balance, as well as depression, anxiety, and memory problems. People living with Parkinson’s disease also experience a deterioration in their quality of life as the disease progresses. Parkinson’s disease can also cause dementia and the person is increasingly likely to suffer from falls.?°

The medical costs associated with treating Parkinson’s disease are around £2,471 per year in the first year of diagnosis, rising to £4,004 per year as the disease advances and the person needs more support.** Costs are likely to be even higher for those living with the disease in its advanced stages. These costs exclude the additional costs of caring for a person living with Parkinson’s disease which, much like Alzheimer’s disease, has its own costs and places its own burdens and toll on carers and loved ones.

People living with dementia or with Parkinson’s disease are more likely to suffer from a fall as a result of worsening muscle and bone health. 60% of people living with Parkinson's disease’* and 66% of people living with dementia’ are affected by a fall every year. Falls cause several issues. They can lead to serious injury or death, or result in a person losing their independence or, for fear of falling result in inactivity, loss of strength and frailty which then can cause more falls and contribute to general ill health. Hip fractures alone cost health and care services an estimated £2.3 billion per year." :

The health problems associated with dementia, Parkinson’s disease and worsening bone and muscle health are all connected, and the numbers of people living with these diseases and with more than one of these conditions is going to increase as the population ages. In 2016, there were 12 million people living in the UK aged 65 years and over. This equates to 18% of the total UK population. It is estimated that in 2041 there will be 20 million people aged 65 years and over, equating to 26% of the population.” If nothing is done, then even more people will be living with ill health in old age with its inevitable negative effect on their quality of life as the years pass.

a ee ee ° https://www.ncbi.nlm.nih.eov/pme/articles/PMC6542764/ {accessed 04/12/2020) ® https://pubmed.nebi.nim.nih.gov/31109906/ (accesses 04/12/2020) 7 https://www.ncbi.nlm.nih.gov/pme/articles/PMC6542764/ (accessed 04/12/2020) 4 https://www.parkinsons.org.uk/professionals/resources/incidence-and-prevalence-parkinsons-uk-report (accessed 04/12/2020) 9 https://pubmed.ncbi.nim.nih.gow/ 16713924/ (accessed 09/12/2020) ; # https://pubmed.ncbi.nlm.nih.gov/22133477/ {accessed 09/12/2020) a https://pubmed.ncbi.nim.nih.gov/29603405/ (accessed 09/12/2020 * 12 httos://chiefpd.blogs. bristol.ac.uk/about-the-trial/ (accessed 04/12/2020) ae https://pubmed.nchi.nim.nih.gov/19436724/ taccessed 09/12/2020) Ke https://www.england.nhs.uk/ourwork/clinical-policy/older_people/frailty/frailty-resources/ (accessed 04/12/2020) https://wmww.ons,pov.uk/peoplapopulationandcommunity/birthsdeathsandmarriages/azeing/articles/livinglongerhowourpepulationischangingandis whyitmatters/2018-08-13 (accessed 04/12/2020) nnnT LL RICE Annual Report and Financial Statements 2021 6

To improve all our lives in older age and to reduce the burden of cost to society, we need to understand much more about Alzheimer’s disease and other dementias, Parkinson’s disease, deterioration in bone and muscle health, and how they affect and are affected by each other, by other health conditions and by personal situations. Finding better care and treatment options, prevention strategies, and ultimately a cure will help to reduce the impact of these illnesses and enable older people and their families to live as well and as independently as possible for as long as possible.

Public benefit

Trustees have paid due regard to the Charity Commissions’ guidance on public benefit. The trustees are confident that RICE’s aims and objectives are in accordance with the regulations on public benefit.

Our impact over the years

Our pioneering memory clinic RICE established one of the first memory clinic services in the Ul in 1987 —a service which has since been . widely replicated and is now considered standard and best practice by the NHS. RICE now runs the NHS Memory Clinic in Bath and North East Somerset on behalf of the local clinical commissioning group and . local authority through a sub-contract with Virgin Care, which became the HCRG Care Group in late 2021. To date, we have assessed, diagnosed, treated and advised many thousands of people with memory problems and their families in our memory clinic.

Where there is a concern about a person’s memory or thinking processes, they can be referred to our memory clinic by their GP or another health specialist or can self-refer as a private patient or through our community clinics. At the memory clinic patients will undergo assessments and meet with our multidisciplinary clinical team. Following the assessments, they may receive a diagnosis and treatment where appropriate from our clinicians; support and advice is also available to help a person with dementia and their loved ones deal with the news and impact of such a significant diagnosis and help and advice is also available for people where dementia does not seem to be the problem.

Every year we ask our patients what they think about our memory clinic. Last year, 97% of thase asked told us that they were very satisfied with how they were listened to by our clinicians during their appointment, that everything discussed was understood, and that they had been offered choice and controlconceming their care. Additionally, 97% of those asked had a positive impression of the Covid-related safety measures we had put in place, felt safe during their visit and were comfortable that the measures put in place were adequate.

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We are very proud of this high level of satisfaction with our memory clinic. Over the years we have worked hard to create an environment which puts our patients’ needs first. The RICE Centre is specifically designed to be a low stimulus space for our patients to visit and the length of our appointments ensure that our patients have the time to be heard and to process what is happening. These are important factors given the impairment in memory and thinking that they may have and the increasing isolation they may be feeling. In addition to the more general support we provide to people and their families after a memory problem or dementia has been diagnosed, we offer support courses and group sessions which complement the care and treatment we provide and help people to live as well as they can with their diagnosis. Our support courses and group sessions need to be separately funded and have been supported by generous donations from trusts and foundations and members of the public. They include:

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attendees is generally very positive and carers have told us that they find the programme makes a difference to them: “1 really enjoyed the course and now understand what Alzheimer’s is. | can put myself in the sufferer’s shoes and understand what life is like for them.” “ didn’t realise there were others in the same situation as me. | felt quite alone before the group.”

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observed that attendees often arrive looking unhappy and stressed but appear much more: relaxed and cheerful by the end of the session.

Between 2013 and 2020, one of our researchers was an occupational therapist who assessed and advised people with dementia and their families attendingour memory clinic. Individual assessments were undertaken in patient’s homes and a personalised programme of therapy and support was put together based on the patient's individual needs and circumstances. The programme involved resolving physical problems that the patient was experiencing, such as difficulty getting up and downstairs or in and out of the bath, or resolving cognitive problems, such as remembering to take medication or how to work digital devices. All patients received advice and information on strategies for living well with dementia and their carers also received advice and information related to their needs. For example, patients were supported and encouraged to increase their physical and cognitive activity every day, to manage their fluid intake and eat healthily, and to attend suitable groups in their local area so they can socialise, This personalised support helped our patients to live as well as they could with their dementia and supported carers in their caring role. New funding is needed for this service to enable it to restart. In the past the service was funded by generous donations from trusts and foundations and members of the public.

We work with other support services for people living with dementia and their carers to ensure that our patients and their families are aware of and can access local services. This includes the local Alzheimer’s Society Dementia Support Workers, the Carers’ Centre Bath & North East Somerset, and Curo’s : Independent Living Service. They often take part in our support courses and group sessions and attend our clinic to offer immediate information to patients and carers. This collaboration is beneficial for our patients and their carers and makes a difference to them:

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Our pioneering research Our memory clinic acts as a gateway for patients and their families who are keen to be involved in research and contribute to increasing knowledge about dementia and ill health in older age. As well as receiving treatment and support around their diagnosis, patients have a direct pathway to, and opportunities to he involved in, a range of research activities. Patients and their families have told us that being part of a research project gives them more opportunities to socialise and to be better informed about their condition, how it is progressing, and how it can best be managed. It also helps them to feel that they are contributing to potential improvements in healthcare.

RICE staff combine their clinical work through the memory clinic with direct involvement in research within the RICE centre. This means most patients taking part in our research will not only be familiar with the building but also with our staff; this relatively unique situation is reassuring for patients and makes us ideally placed to carry out clinical research, for example assessing potential new drug treatments for conditions like Alzheimer’s disease. Additionally, by supporting and treating our patients and their families, nnEE nae RICE Annual Report and Financial Statements 2021 9

RICE staff are more easily able to identify research projects that may benefit our patients mentally and socially and hopefully have a real impact on their health and the quality of their lives. For example, we set up several Patient Public Involvement (PPI) groups where patients and carers have had the chance to feedback on the development of research projects run at RICE as well as at the Royal United Hospitals and the University of Bath. Our PPI group have contributed to a forthcoming study of exercise snacking (short burst exercise therapy) which we are developing in conjunction with colleagues at the University of Bath.

By combining our clinical and research expertise we are able to ensure that research informs and is informed by clinical practice, and enable patients and their loved ones to contribute to research into relevant questions that can potentially improve both treatment and care options not only for themselves but for all of us as we. get older.

We are one of the oldest established centres for finding treatment for people with Alzheimer’s disease and other types of dementia. For more than 30 years, RICE has madea significant contribution to global research into Alzheimer’s disease and related conditions. Since 1985, we have undertaken trials of more than 50 potential drug treatments working with global pharmaceutical companies and other researchers. Of these, four are currently licensed in the UK for treatment of Alzheimer’s disease and all were evaluated from the very earliest clinical trials in their development by RICE. A suggestion from RICE led to a research study that showed that one of the drugs need only be taken once a day instead of twice a day and this is now the accepted and approved dosage regime. We were one of only four centres for the first study in the world of a potential immunisation against amyloid, one of the proteins that accumulates in the brain in Alzheimer’s disease and we have sometimes been the first centre in the world to commence studies witha new potential treatment for Alzheimer’s disease and other related conditions. Our clinical trial research has also looked at potential drug treatments for mild cognitive impairment, a condition that sometimes leads to dementia, vascular dementia and Parkinson's disease. We have carried out research with patients and healthy people that aims to increase knowledge about genetics and the hereditary aspects of dementia.

Our Director was invited by the National Institute for Health and Care Excellence (NICE) on several occasions as an expert to contribute to their assessments of the four licensed Alzheimer’s treatments and also to be part of a Guideline Development Group that developed the first NICE guideline on dementia that evaluated all aspects of improving care, treatment and support for people with dementia and their families.

Improving Quality of Life Z RICE has also been involved in research to look at non-drug treatments, better ways of assessing Quality of Life for people with dementia, and how we might improve the quality of life of a person living with dementia and their carer including ways to improve services available. A grant from the Alzheimer’s Society allowed us to develop a quality-of-life measure (the BASQID, Bath Assessment of Subjective Quality of Life In Dementia) for completion by the patient rather than using the opinion of someone else.

We were part of the team awarded funding for the GREAT (Goal-oriented cognitive Rehabilitation in Earlystage Alzheimer’s and related dementias) study to evaluate cognitive rehabilitation therapy for people with mild or moderate memory difficulties as a result of a dementia diagnosis. The study concluded that it was beneficial in improving everyday functioning for those with early-stage dementia and a three-year implementation study in 15 centres is now being carried out to see if this approach can be used globally more widely.

We are part of the team that has received funding from the Economic and Social Research Council, followed by additional funding from the Alzheimer’s Society, for the unique IDEAL and IDEAL-2 (Improving the experience of Dementia and Enhancing Active Life) studies which began in 2014 and is due to finish in 2022, to identify what factors influence a patient's ability to live well with dementia and what it means to live well. The study has already led to a number of important research publications and it is hoped that

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eventually a set of recommendations can be made to help guide health and care commissioners and providers and individuals on how best to live well with dementia.

We are currently involved in the PrAISED2 therapy study which aims to promote activity, independence and _ stability in people diagnosed with a memory problem or early dementia and is due to finish in 2022. The research explores whether providing people with exercise, activities and memory strategies can help to improve physical and mental health and reduce the impact of their memory problem or dementia, Feedback from our patients and their carers is very positive, with many reporting a renewed interest in activities previously enjoyed by patients for example dog walking, gardening, and leisure activities such as table tennis. Knowledge from this project could provide guidance on better care options to help people live fuller, fitter lives and hopefully reduce their need for health and care services.

RICE has also used its expertise to evaluate the benefits of an initiative involving volunteers to provide , support to the approximately 200 people living with dementia who are admitted to the Royal United Hospitals every month.

Our purpose-built centre Most of our work takes place in our own purpose built, specialist centre located on the Royal United Hospitals site. The building of the RICE Centre was possible as a result of generous donations from major donors, trusts and foundations including the National Lottery, and members of the public. RICE moved inta the ground and first floor of the centre in 2008. Following the success of the DementiaPlus Appeal and further generous donations from major donors, trusts and foundations and members of the public, RICE converted the attic floor in 2019 to create much needed additional space, which will enable us to grow our research, services and activities. We have worked hard to ensure that the areas of the Centre visited by our patients meets their needs and we regularly receive’ positive feedback about this.

Collaborating with others - locally, nationally and internationally . A key part of our work includes working with other organisations caring for older people and researching older people’s health. We lead the RICE Ageing Research Collaborative which brings together clinicians and researchers from the Royal United Hospitals and the universities of Bath, Bristol and West of England to develop and undertake innovative research into the health problems of alder age.

Our staff have been recognised for the quality of their work over the years with appointments for example of Roy Jones as a Visiting Professor at the University of the West of England; an Honorary Senior Lecturer then an Honorary Professor at the University of Bath; and currently as an Honorary Professor at the University of Bristol. Dr Tomas Welsh also has appointments at the University of Bristol where he is an Honorary Research Fellow and Deputy Lead for Complex Medicine of Older People and he is also Deputy Chair of the British Geriatrics Society Dementia and Related Disorders Specialist Interest Group. Professor Jones was the first lead for the South West Dementias and Neurodegenerative Diseases Local Research Network (DeNDRON) and subsequently it’s Dementia Research Director and RICE was a founder member of the European Alzheimer’s Disease Consortium.

We also communicate and share our research findings not just with other clinicians and scientists but with the wider public too. Our researchers regularly present at national and international academic and clinical conferences, write chapters for clinical books, and publish articles in academic journals such as Age and Ageing, Aging & Mental Health, Alzheimer’s & Dementia, Cortex, Journal of Alzheimer’s Disease, International Journal of Geriatric Psychiatry, Journal of Psychopharmacology, Lancet, Lancet Neurology, Neuropsychologia, New England Journal! of Medicine and the Proceedings of the National Academy of Science. Over the years we have authored or co-authored more than 200 such publications.

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Our impact in 2021

Our reduced staff team and income in 2021 caused by the financial challenges of 2020 have affected our capacity to take forward our plans and run our activities at the level and pace we wanted. 2021 has however been more of a ‘normal’ operating year in comparison to 2020, even with the ongoing impacts of the coronavirus pandemic.

Despite the challenges, we have continued to make a difference to older people’s health. Our main objectives for the year were to:

We describe below the main activities undertaken to meet these objectives and whom we have helped. All our charitable activities have focused on reducing the impact of health problems in older age and have been undertaken to further our charitable purposes and for public benefit.

We delivered high quality memory clinic services for Bath and North East Somerset which put patients and their carers at the heart of the service.

In 2021 there were 1,497 patient contacts with our memory clinic, of which 422 were patients being assessed for the first time and 1075 were receiving either follow-up care or medication reviews. Based on data collected between April and September 2021 on 416 of our patients, 43% identified as male, 57% as female, 81% as white, 2.4% as Black, Asian or mixed ethnicity, and 16.6% declined to report their ethnicity. 7% of the 416 patients were in their 50s or 60s, 33% in their 70s and 60% were in their 80s or 90s. We continued to see many ofour[ patients][remotely][in][2021,][making][use][of][ telephone][and][online] consultation methods, and we managed to provide more face-to-face appointments than the previous year. However, Covid-related safety requirements have continued to impact on capacity within our memory clinic and on our ability to see and assess some of our patients as promptly as we would like. This means that despite offering a wide-range of types of appointment, same patients are still waiting for several months to be assessed by our clinicians. We successfully fundraised £7,750 towards the cost of the clinic time needed to help reduce the waiting list, however, whilst it has reduced it remains higher than we would like. We hope that further donations might enable us to fund further clinic time in 2022 so the "waiting list can be reduced more. Our sincere thanks go to those who’ve generously donated to help so far.

Unfortunately, due to the shutdown and restrictions caused by the pandemic, we were unable to run our support courses until government restrictions were lifted. In the Autumn of 2021, we were able to hold one of our cognitive stimulation courses which was funded by a generous donation from the McClay Dementia Trust. We have a number of support courses planned already for 2022. Due to restrictions and lack of funding our music therapy, music for memory groups and occupational! therapy has not yet restarted either.

in 2021 we had our first comprehensive inspection since registering with the Care Quality Commission in 2013. In early 2022, we were delighted to be told that we were rated as Outstanding overall — the highest rating offered. RICE was assessed on five key areas, two of which were rated as Outstanding and three of which were rated as Good." The inspector said that RICE delivers “an exceptional, innovative service”. They were also impressed that our patients were treated as experts in their own condition and were offered a

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rounded service of diagnosis, care and information, and research opportunities all under one roof. RICE was applauded by the Commission as being an exemplar service for dementia, with skilled leaders and staff, and a service that other organisations could learn from. The overall Outstanding rating is a huge recognition of our high-quality services and the support that we provide, and the tremendous amount of dedication and skills that we’ve nurtured and developed within the team.

We increased our clinical trials and research activities with a focus on thinking clearly, moving well, staying strong — Alzheimer’s disease and dementia, Parkinson’s disease, and muscle and bone health.

. During the year over 80 of[our][patients][ were][supported][by][ our][ staff][ to][ take][part][in][ our][ clinical][trials][and] other research projects. Based on data collected on these patients, 54% identified as male, 46% as female, and 100%.as white. 70% resided in Bath and North East Somerset, 25% in Somerset, 2.5% in South Gloucestershire and 2.5% in Bristol. 4% of the 80 patients were in their 60s, 44% in their 70s, 43% were in their 80s and 9% were in their 90s. 28% of the patients had been diagnosed with Alzheimer’s disease, 59% with mild cognitive impairment, 7% with mixed dementia and 6% with vascular dementia.

RICE also has an active pool of healthy volunteers whom we support to get involved in our research as well as other institutions’ research projects. In 2021, around 40 of them took part in one or more University Bath projects which required healthy control subjects. In 2021, RICE was involved in seven clinical trials. The trials include the new Biogen Embark trial, the Evoke’ and Evoke plus trials, and the ongoing Julius Clinical trial, Graduate 2 and its successor Postgraduate trial, and the AC Immune Amyloid trial. . The Julius Clinical trial is investigating whether a drug, known as T-817MA, is safe to use in people living with Alzheimer’s disease and whether it may slow the progression of the disease. The Graduate 2 study is testing a drug, gantenerumab, to find out how it affects memory, cognition and day-to-day functioning in people living with Alzheimer’s disease and whether it may slow the progression of the disease. After completing their treatment; patients had the option of entering the follow-up study called Postgraduate. This trial is continuing to test the drug gantenerumab to understand the effects of its long-term use.

The AC Immune Amyloid trial is investigating the effects of a vaccine injection, called ACI-24. Like gantenerumab, the vaccine stimulates the body to make antibodies which remove or prevent the build-up. of beta-amyloid, the protein which is found in the brains of people with Alzheimer’s disease. The Evoke and Evoke plus trials are looking at whether the'drug Semaglutide, already licensed to treat Type 2 diabetes, is effective in treating memory loss in patients with mild Alzheimer’s disease and mild cognitive impairment.

The Biogen Embark trial is investigating further the potential benefits of the drug aducanumab, following — on froma research study carried out previously at RICE and other centres around the world. There has been a lot of publicity about this drug which has been given a provisional licence for use in the United States even though there is still considerable uncertainty about whether or not it is effective, The European Medicines Agency has however refused approval at present because of concerns about how effective and how safe aducanumab is. At present aducanumab, gantenerumab and a number of other treatments are showing more positive signs than many compounds tested over the past 20 years but further research is still needed to confirm both their efficacy and safety. However, if successful, they would be the first new drug treatments for Alzheimer’s disease to be approved for more than 20 years and will offer hope and further treatment options to millions of people.

We collaborated with the Royal United Hospitals on a number of new trials. The PRIME Parkinson UK project aims to develop anew integrated model of care for people living with Parkinson’s disease. The new mode! should better address patients’ needs, improve their health and reduce healthcare costs. RICE supported the hospital with patient recruitment and data collection. We also supported the hospital on a ee aEEEEIREEN GEER Ee GEER Ee Ee

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three Covid-19 trials. Visits for these trials for participants living in Bath took place in the RICE Centre and our staff worked closely with hospital staff to perform the follow-up visits. The coronavirus continues to be a major threat to the health of older people and RICE Is proud to have been involved in these trials which will help to reduce the risks of the virus and the wider impact it has had on older people. The trials we were involved in, included: Ensemble 2 which tested a new Covid-19 vaccine developed by the Janssen Pharmaceutical Companies of Johnson & Johnson, ComFluCOV which was run by Bristol University and looked at the effect of combining the influenza and Covid jabs in one visit, and a trial run by Sanofi looking at the effectiveness of a new Covid-19 booster against different Covid-19 variants.

in.2021, RICE was involved in six other research projects including the ongoing PrAISED2 study for which we successfully recruited 84 people. After the disruptions in 2020, the study ran smoothly in 2021 and will conclude in 2022. Feedback from patients who have taken part has been very positive and RICE aims to be involved in future follow up projects.

New projects in 2021 include an evaluation of virtual consultations with the University of Bath, AFRI, REAIM PRIDE-APP, RCF exercise snacking and Top Hat. The AFRI study is trialling the use of air filters in care homes to reduce infection. The RE-AIM study of the PRIDE self-management app (computer software application) led by Nottingham University, is looking at promoting activity and independence amongst patients through an online app programme called PRIDE, Participants take part in online virtual meetings with an assigned facilitator who supports them and helps them to set goals and look at what different resources might be available to help them. The RCF exercise snacking project, due to start in early 2022, is being run with the University of Bath. It will support patients not regularly engaging in recreational sports or structured exercise to get involved in small, short bursts of movement and activity to see what impact this has on their health. The Top Hat project, also due to start in early 2022, is led by University College London. It is looking at whether ondansetron, an anti-sickness medication usually used for people having cancer treatment, can effectively treat visual hallucinations in people with Parkinson's disease. This will be a collaborative project with doctors from the Royal United Hospitals.

We contributed to clinical and research knowledge and increased awareness of RICE.

As ever RICE has worked collaboratively with other organisations through our research programme. We continued to establish strong working links with the Royal United Hospitals and this close research collaboration will be further developed in 2022. Our involvement in the PRIME Parkinson UK project and Top Hat project came about as a direct result of the RICE Ageing Research Collaborative, and there are further joint research projects in the pipeline as a result of this group.

RICE continues to support the University of Bath on research projects and, in 2021 recruited 39 patients - with mild cognitive impairment for the FASTBALL MCI project which has featured in a recent BBC Points West article. The project is looking at the development of a new technique for the early detection of dementia by measuring how well people remember things they have seen before. A portable electroencephalography (brain wave) machine is used to look at patterns of brain activity which relate to memory. The project has looked at using this technique with people diagnosed with Alzheimer’s disease and in 2022 it plans to look at other dementia groups. Healthy volunteers recruited by RICE have also been sinvolved as part of the older age control group.

RICE publishes and presents its research findings and shares the knowledge that we gain in our activities so that we can contribute to the growth in knowledge of older people’s health and healthy ageing. We use our findings and expertise to influence health and care policy and to deliver improvements in how health and care services are provided. In 2021, we published six papers in academic journals, one chapter in Management of Patients with Dementia: The Role of the Physician, and two chapters in the latest edition of the Oxford Textbook of Old Age Psychiatry. Two of the papers considered mild cognitive impairment, one

OO RICE Annual Report and Financial Statements 2021 ° 14

| Our future plans

being a European position statement and the other a consensus paper, In addition, we delivered a webinar to patients and their families and carers and the wider research community about ongoing research studies and the impact of Covid-19. Our staff also continue to provide teaching on dementia and polypharmacy to University of Bristol Medical Students and on the medicine of Older People to University of Bath pharmacists.

As well as sharing our knowledge with scientists, health and care professionals, and commissioners and service providers, we share our knowledge with our funders, supporters and the wider public. We published one edition of our newsletter which went out to over 2,000 supporters. The newsletter helps to grow awareness of our work as well as generate income via donations for RICE. Our new website was also launched in 2021. It attracts an average of 600 visits a month with visitors coming from all over the world.

Our Patient Public Involvement group for our patients to discuss developing research on multimorbidity in people with dementia is involved in supporting and providing feedback on our RCF exercise snacking project.

in 2022, our particular focus will be to carry on increasing the breadth of research into health problems of old age, to further increase our collaboration with the Royal United Hospitals, and to support these activities with robust financial planning to ensure that RICE is sustainable, resilient and maximising the resources it has to make a difference. Our main objectives for 2022 will be to continue to:

2022 will also be a year of change for RICE, due to planned changes within our staff and trustee team. Our Director, Professor Roy Jones, after 37 years of leading RICE will be stepping down and retiring, although he will continue to be involved in our work in an honorary role as President. RICE will be led by our new CEO, Melissa Hillier, who has considerable experience in the charity sector and joined RICE in early 2022 supported by Dr Tomas Welsh who will become Research and Medical Director. Our Chair, Dr Chris Dyer, who after 20 years as trustee will also be stepping down. Anew Chair has been elected within the current trustee team and Dr Mark Kingston will kindly take over as Chair in early 2022. These changes are not insignificantfor RICE, but with significant change also comes the opportunity fora new chapter in RICE’s growth and development.

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Financial review

In 2021 RICE ended the year with a surplus of £74,054 (2020 - surplus of £7,112), and with net assets of £2,028,437 (2020 - £1,954,383). The surplus can be broken down into a figure of £115,834 surplus on unrestricted funds activity (2020 - £52,594 surplus) and £41,780 deficit on restricted funds (2020 - £45,482 deficit). The main reason for the surplus was that RICE was the unexpected beneficiary ofa significant legacy in 2021.

Net assets increased to £2,028,437 from £1,954,383 due to the surplus. Fixed assets totalled £1,267,765 with most of that value being in our purpose built, specialist Centre for which a significant depreciation charge is made in the accounts every year. Net current assets increased by £113,214 to £760,672 split

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between restricted funds of £74,586 and unrestricted funds of £686,086. £100,000 of these unrestricted funds have been designated by trustees for specific research and educational activity and will be spent over the next three years.

Total income in 2021 was £851,177 (2020 - £806,585). RICE continued to receive income from four main income sources which include its agreements to deliver clinical trials and research projects, the memory clinic service for Bath and North East Somerset, all of which are our charitable activities, and income from fundraising. Overall, income from charitable activities increased slightly by £5,794 to £521,444.

RICE received a large amount of legacy income in 2021. Our legacy income does fluctuate from year to year and increased again from £76,459 in 2020 to £207,000 because of one particularly generous, large legacy estimated to be worth £200,000. RICE has not yet received the legacy as cash in the bank due to the significant delay in processing grants of probate. It is hoped that the cash will be received in 2022. In 2021, RICE was donated continuing Royalties fram a supporter via a legacy in their Will. This is a new source of regular income for RICE for the next 70 years. After the difficult year of 2020 when many of our research activities had to be paused, our clinical trial income has started to recover, and we hope will return to near normal levels in 2022. In 2021 RICE made use of the government’s furlough scheme _ and received £722 from this government grant, down from £47,453 in 2020.

Total expenditure in 2021 was reduced slightly by £15,350 to £784,123 from £799,473 in 2020, The main reason for the decreased expenditure was the action taken in 2020 to mitigate the impact of the shutdown and restrictions caused by the pandemic. Staff costs represented 67.2% of total costs in 2021 (2020 - 71.7%). Overhead costs continued to be tightly controlled, although we have had some unavoidable repair costs to our building in 2021, some of which will continue into 2022.

2022 is likely to be another difficult year financially for RICE. With a continuing uncertain economic climate and the impact of the coronavirus pandemic still being felt, it is likely that both income from our charitable activities and from our fundraising will remain reduced, which in turn will affect our capacity to grow our clinical services and research activities. Key to ensuring a stable future will be robust financial planning in order to ensure that RICE is sustainable, resilient, and maximising the resources it has available to pursue its purpose. This will hopefully enable small, incremental growth year-on-year.

Fundraising

We are immensely grateful to everyone who generously donated to RICE. In 2021 we raised 38% of our | income through fundraising. This represents an increase in fundraising income of 2% fram 2021 and is a in the accounts as donations and legacies, and fundraising activities. | result of one particularly generous, large legacy. The amounts received from fundraising are presented During 2021 we again had to alter our fundraising plans and focus our fundraising activities on raising income in ways not requiring face-to-face interactions. This meant most income raised in 2021 came from Trusts and Foundations, which either funded projects such as repairs to our roof or made a contribution towards our core costs, and from donations from current supporters. The restrictions in 2020 created a waiting list of patients to be seen in the memory clinic, and many Trusts and Foundations chose to support efforts to reduce this waiting list. RICE was also fortunate to receive gifts given in memory or in wills from supporters who had sadly passed way. These gifts greatly benefited RICE’s financial position; particularly as other forms of fundraising were not possible.

In 2022 fundraising activities will focus on securing much needed income to cover core costs such as the costs of operating from our specialist Centre and the costs of our experienced and specialist staff team. It is hoped that a new appeal in 2022 will help to generate these core and unrestricted funds.

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All our fundraising activities are carried out in-house by trained and experienced staff employed directly by RICE. Our Fundraising and Development Manager oversees all our fundraising activity and is accountable to our Director/CEO and the Board of Trustees. We monitor and support any volunteers who do fundraising on our behalf and provide them with guidance on GDPR and good fundraising practice. We do not currently engage any third-party professional or commercial fundraisers. RICE fundraising activities are guided by an internal ethical fundraising policy which sets out our approach to fundraising and our interactions with vulnerable people. The policy aligns with and follows closely the Code of Fundraising Practice, which we also use and comply with. RICE is a voluntary memberofthe Fundraising Regulator and updates its approach to fundraising when new guidance from the regulator Is published,

In 2021, we received two complaints about our fundraising activities. Both of the complaints were related to our newsletter which was sent to the complainants in error. Our fundraising database has since been updated and staff will be re-trained on how to generate mailing lists for the newsletter, in order to avoid similar complaints in the future.

Reserves : Trustees hold restricted reserves as required to meet RICE's funding agreements and commitments. Trustees review each year the range and the purposes of un restricted reserves held alongside setting the operational budget for the year ahead. For 2022, trustees agreed to hold unrestricted reserves to cover redundancy liabilities; costs for closing the charity; a building, IT and equipment renewal programme; and working capital for approximately three months. The range of unrestricted reserves was set at between £505,000 and £620,000. Setting a range is a helpful way to ensure enough ' unrestricted reserves are held whilst also having an upper target level of reserves to ensure that funds are not held unreasonably. Trustees are confident that the range set will enable RICE to best manage the main risks it faces including a worst-case scenario should the economic climate be detrimental. At 31 December 2021, RICE had restricted reserves of £1,335,657 and unrestricted reserves of £692,780 of which £586,086 is held for the purposes detailed above, £6,694 is tied up in fixed assets, and £100,000 has been designated by trustees for specific research and educational activity and will be spent over the next three years. Going Concern RICE has resumed near normal levels of activity, and anticipates that our research programme and fundraising will bring in the income needed to cover our operating costs for the next 12 months. Having carefully assessed internal and external factors, the trustees believe that RICE has adequate resources available to continue to operate as a going concern for the foreseeable future. Risk Management Trustees are responsible for identifying, managing and mitigating risks to the charity. To enable this, RICE has an internal risk management policy and a risk register which reviews risks by their likelihood é and severity, identifies controls and actions to manage them appropriately and allocates a risk owner who is responsible for ensuring controls are in place and appropriate actions are taken, Trustees review key risks on a six-monthly basis or more often if circumstances require.

During 2024 measures were prioritised to mitigate those risks scored as high. The highest risk continues to relate to the coronavirus pandemic and-the impact it may have on RICE and its’ activities. This was mitigated as best as possible in 2020 and 2021, but will continue to be monitored carefully by trustees in 2022. The other highest risks relate to financial risks. Trustees have mitigated these as best as possible by reviewing their approach to holding reserves, by focusing on growing the breadth of research RICE undertakes so it is better protected against unpredictable external factors, and by

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_ focusing fundraising on those activities which are most lilely to bring in income to cover core costs. It is hoped that a new appeal in 2022 will generate core and unrestricted funds. These risks will continue to be monitored by trustees in 2022.

Structure, governance and management

Structure : RICE is a registered charity in England and Wales (1042559) and a registered company limited by guarantee (2979617). We're governed as defined by our Articles of Association which were agreed on 17/10/1994 and amended on 23/12/2015 and 09/11/2017. Trustees are the members of the charity.

Trustees RICE is governed by a board of trustees who elect a chair and nominate two deputy chairs. The board is collectively responsible for governance of RICE, for developing our strategic direction, and they have - oversight of all activities. They ensure we operate in line with our charitable objects and for public benefit, and that we meet our financial and legal obligations, and both manage and mitigate risk. The - board meets four times a year. There are also three sub-committees made up of trustees which report to the board. They are:

Trustees also hold an annual strategic meeting which provides an opportunity for trustees and the senior management team to review progress against the strategy and discuss future plans and activities.

RICE’s Articles allow for a minimum of six and a maximum of 12 Trustees. In 2021 there were nine trustees appointed to the board. Trustees are normally able to serve, and be eligible for re-election, for consecutive periods not exceeding in aggregate 15 years from the date of their first appointment. Our Articles also allow for a limited consideration of further extension in particular circumstances, to be agreed by written Special Resolution. Trustees have all been appointed based on their personal and professional expertise. Together the trustees act independently of any other connections they have, and - do not hold their trusteeships as representatives of other organisations or interests. This means trustees can act within the best interests of RICE and its beneficiaries. They bring a breadth and depth of leadership experience related to our charitable objects, governance needs and research credentials.

Prospective trustees are identified through recommendation and/or personal introduction, and specifically for their knowledge in the areas of expertise sought at the time. They're invited to meet with the Chair and Director/CEO and to observe a meeting of the board and meet trustees as part of their recruitment process. Appointments are made formally at the trustees’ first meeting each year, and in the interim new trustees are co-opted to the board. All trustees are required to undergo Disclosure and Barring Service (DBS) checks and must meet eligibility criteria to serve as a charity trustee. Every trustee is asked to sign a declaration of eligibility and a declaration of interests on appointment and annually at the first meeting thereafter. Trustees must ensure that any conflicts of interest are notified to the board as soon as practically possible and any related party transactions are disclosed as needed.

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Once appointed all trustees receive a copy of the RICE trustee handbook, which is updated annually, and a tailored induction to RICE and its operations. Trustees complete a self-assessment every two years to identify how well trustees are meeting their responsibilities. The self-assessment will next be repeated in 2022. Trustees receive regular updates on changes and developments in charity regulation and practice throughoutthe year either at their meetings or via our internal bulletin.

The board has delegated authority for day-to-day operational management of RICE to the Director/CEO. The Director/CEO is assisted by the Deputy Director and a senior management team. The Chair of the Board of Trustees is responsible for the appraisal and performance management of the Director/CEO.

Staff During 2021, RICE directly employed 16 people. All our staff are recruited in line with the RICE recruitment policy which follows NHS safe recruitment guidelines. They receive an annual appraisal in line with our induction, probation and performance management policy and guidelines. We are proud of the reputation of our staff and their caring and compassionate approach. As an organisation we promote a healthy and balanced lifestyle and recognise our staff are our greatest asset. We place a high value in creating an inclusive, healthy and safe working environment where people feel valued and in which everyone can contribute,

All our staff are based in one building located in Bath although some staff also regularly work from home. Formal communication occurs through staff meetings, a journal club to share research knowledge and experience, clinic meetings to review the operation of the memory clinic, and general communications meetings. An internal bulletin is circulated every three weeks to staff and trustees. The bulletin highlights clinic and research activities, regulatory and other business updates, staff and fundraising news, and other information of importance. Clinical staff also attend monthly educational meetings with the Older People’s Unit of the Royal United Hospitals to share clinical learning and meet regularly with radiologists to discuss brain scans and imaging. In 2021 these meetings were held either | face-to-face or virtually.

Staff are employed at RICE based on the specific skills that they can bring to their role. For RICE to operate successfully, we need a range of skills and we need to pay appropriately to ensure we can recruit people with the right skills. We also need to retain staff in a competitive market both in the charity and the health and care sector and so staff pay scales are set with these factors in mind. All clinical staff pay is matched against NHS agenda for change salaries. Pay awards are agreed yearly by the remuneration committee in line with NHS awards and subject to funds being available. All charity staff pay is set based on an internal pay structure developed using benchmarking and comparisons with other charities of our size and type. Pay awards are agreed yearly by the remuneration committee and tend to match any NHS awards also made. These awards are also subject to funds being available.

Volunteers Our work would not be possible without the volunteers who support us and get involved in our activities: from patients volunteering in research projects, to volunteers helping to run research and: getting involved in our clinics, to those volunteers supporting our fundraising efforts and helping to fundraise by running their own fundraising events. Their contributions are incredibly valuable to us and we thank them all for the time and commitment they have given and continue to give us. In 2021, over 80 patients and their families volunteered to be part of a research project, two doctors volunteered in our memory clinic, and one student volunteer supported our research.

Related party transactions The only related party transactions in the year were with the Royal United Hospitals (RUH). Whilst the RUH and RICE work closely together due to our similar interests in improving the health of older people,

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the two organisations operate completely separately of each other. Two of RICE’s trustees are employed by the RUH, but in their role as trustees they act independently and only in RICE’s best interest. RICE and RUH also share a staff member who holds a joint employment contract with both parties, but in their role at RICE acts independently and only in RICE’s best interest. In 2021, RICE paid £103,562 to RUH for costs related to the joint staff post, rent and services for our building, medical scans for our research patients, and other small medical, stationary and sundry items. RUH paid £32,216 to RICE for research trials and research project activities, medical students’ tuition and for use of our conference room facilities. A breakdown of these transactions is included in the notes to the accounts.

Trustee’s responsibilities in relation to the financial statements

Company law requires the trustees to prepare financial statements that give a true and fair view of the state of affairs of the charity at the end of the financial year and of its surplus or deficit for the financial year. In doing so the trustees are required to:

The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enables them to ensure that the financial! statements comply with the Companies Act 2006. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In accordance with company law, as the company’s directors, we certify that:

Moore have acted as the Company's auditors during the year.

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Independent Auditor’s Report to the Members of RICE — The Research Institute for the Care of Older People

Opinion ; We have audited the financial statements of RICE — The Research Institute for the Care of Older People (the ‘charitable company’) for the year ended 31 December 2021 which comprise the Statement of financial activities, Balance Sheet, Cash flow statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion,

Conclusions relatingto going concern In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. :

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The Trustees are responsible for the other information. The other information comprises the ~ information included in the annual report, other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with

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the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees Annual Report.

Responsibilities of Trustees | As explained more fully in the Trustees’ responsibilities Statement set out on page 20, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion, Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered “material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in

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respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud. The objectives of our audit in respect of fraud, are; to identify and assess the risks of material - misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the charitable company.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Councils website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members and the charity's Trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than:the charitable company, the charitable company’s members as a body, and its Trustees as a body, for our audit work, for this report, or for the opinions we have formed.

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Mark Powell, Senior Statutory Auditor For and on behalf of Moore, Statutory Auditor 30 Gay Street

Bath, BA1 2PA

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Statement of financial activities

for the year ended 31 December 2021 ;

Unrestricted
Funes		 icted
Restricted funds		 Total funds
2024		 Total funds
2024		 Total funds
2020		 Total funds
2020
Notes £ £ £ £
Income
Donationsand legacies 1 240,669 - 240,669 156,148
Fundraising activities 2 33,219 54,227 87,446 133,525
Investments 3 1,203 - 1,203 1,262
Royalties 4 7,415 . 7,415 -
Charitable activities -
Clinical trialsand research 5 446,682 74,762 521,444 515,650
projects
fei ap SLA iMate
Total Income		 OF seth = Oe a
729,188		 eS
128,989		 858,177 ee
806,585
Pon ihreee aie BreesNs Ns ARO cece eatcaren
.
Expenditure
Raisingfunds
Charitable activities -		 6 48,497 : 48,497 65,345
Clinical trialsandresearch
projects		 6 564,857 170,769 735,626 : 734,128
he eB no
8,
Total Expenditure		 ee
613,354		 SS
170,769		 ee
784,123
799,473
Net Income/Expenditure 115,834 (41,780) 74,054 agikaEe!
Transfers between funds in - : .
the year
Netmovement in funds		 115,834 (41,780) : 74,054 7,112
Reconciliation offunds
Total funds at 1 January2021 576,946 1,377,437 1,954,383 1,947,271
Totalfundsat31December 2021 692,780 1,335,657 2,028,437 1,954,383

The notes on pages 29 to 39 form part of these accounts.

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Balance sheet

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$ Totalfunds Total funds
2021 2020
Note Ve: £
Fixed assets
Tangible fixed assets -property 10a 1,259,130 1,294,738
Tangible fixed assets -equipment 10a 2,455 57123
Intangible fixed assets -website 10b 6,130 7,064
1,267,765 1,306,925
Current assets
Debtors 11 370,491 147,504
Cash at bank and in hand 437,060 608,493
807,551
SR sche st oe		 755,997
eR ate ea
Amounts falling due withinoneyear 12 46,379 108,539
Net current assets
760,672 647,458
[ESTS
a,
Se
2,028,437 1,954,383
ReGrds cme oRCge eae
Unrestricted funds—general
Unrestricted funds— designated		 Uae ne ame i
13/14		 ee conan
592,780
576,946
100,000
-
Restricted funds 13/14 1,335,657 1,377,437
Total funds 2,028,437
ah		 1,954,383
wires

The Financial Statements and notes set out on pages 29 to 39 have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and were approved by Trustees on 28th Apyif2022 and were signed on behalf of the Trustees by:

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¢ i
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Dr Chris Dyer, Chair

Company registered number: 2979617

ee RICE Annual Report and Financial Statements 2021

25

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Cash flow statement

for the year ended 31 December 2021

Total funds Total funds Total funds
2021 . 2020
Notes £ £
Statement ofCash Flaws
Cash flows from operating activities:
Netcash provided by(used in) operating activities Seebelow (171,433) 150,101
Cash flows from investing activities:
Purchase ofequipmentand building 10 - (7,292)
Change incash and cash equivalents in year (171,433) 142,809
Cash and cashequivalents at 1January2021 608,493 ° 465,684
Cash and cash equivalents at31 December2021
Beier oe i
Abia
talepene
edi eee		 ee se ec se 437,060
608,493
Se
Reconcile netincome/(expenditure)fromoperating activities
Net income/(expenditure) foryear SOFA 74,054 Fate
~ Adjustments for:
Depreciation and amortisation charges 10 39,160 38,052
(Increase)/Decrease indebtors TA: (222,987) 106,558
(Decrease) in creditors 12s (61,660) (1,621)
Net cash (usedin)/provided byoperating
activities		 4 (171,433) 150,101
‘

Analysis of changes in Net Debt

for the year ended 31 December 2021

1January 31 December
2021 Cash flows 2021 .
Cash 608,493 (171,433)437,060
Total 608,493 =(171,433) 437,060 ;

pS P RICE Annual Report and Financial Statements 2021

26

Accounting Policies

for the year ended 31 December 2021

RICE is a company limited by guarantee (2979617) and registered as a charity in England & Wales (1042559): RICE’s functional and presentation currency is the pound sterling. Amounts include in the financial statements are rounded to the nearest whole pound. The principal accounting policies adopted by the Charity in drawing up its Financial Statements are as follows:

a) Basis of accounting The Financial Statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) — (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Going concern : RICE has resumed near normal levels of activity and anticipates that our research programme and fundraising will bring in the income needed to cover our operating costs for the next 12 months. Having carefully assessed internal and external factors, the trustees believe that RICE has adequate resources available to continue to operate as a going concern for the foreseeable future.

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nea RICE Annual Report and Financial Statements 2021

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,

d) Fixed assets and depreciation

e) Investments

;

g) Funds

Funds held by the charity are:

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RICE ; Annual Report and Financial Statements 2021

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Notes to the Financial Statements

for the year ended 31 December 2021

Unrestricted Unrestricted Restricted Totalfunds Total funds
funds funds 2021 2020
£ £ £ £
Donations
Gifts inmemoriam		 24,380
9,239		 »
-		 24,380
9,239		 68,118
11,071
Corporate donations 50 . 50 500
Legacies ~~ 207,000 - 207,000 76,459
240,669 Z 240,669 156,148
; Unrestricted Restricted Total funds Total funds
funds funds 2021 2020
£ £ £ £
k
Charitable trusts 30,150 53,577 83,727 114,310
Newsletter 1,299 - 1,299 8,522
Other fundraising 1,065 650 1,715 2,318
DementiaPlus Appeal - “ - 6,525
Otherincome 705 - 705 1,850
: 33,219 54,2277,446 133,525
Unrestricted
funds		 Restricted
funds		 + Totalfunds
2021		 Total funds
2020
:
Bankinterest 1,203
1,203		 1,203
1,262
4203 1,262
Unrestricted Restricted Totalfunds Total funds
funds funds 2021 2020
- Royalties 7,415 . 7,415 -
7,415 - 7,415 -
Unrestricted Restricted Totalfunds Total funds
funds funds 2021 2020
Clinical trials 180,080 : 180,080 128,924
Research projects 1,670 74,040 75,710 77,964
Memory clinic 252,230 - 252,230 248,356
Government grant -Furlough - 722 722 47,453
Otherincome 12,702
446,682		 -
74,762		 12,702
521,444		 12,953
515,650

EEEEE

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RICE Annual Report and Financial Statements 2021

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Notes to the Financial Statements [continued]

Direct
staft
costs		 Kitacated
Bhattcost		 Other
direct
costs		 General
support
costs		 Total 2021 Total 2020
£ £ £ £ £ £
Fundraising costs 25,385 10,028 5,056 8,028 48,497 65,345
Charitable activities
aat CeSea es) 331,457 160,168 «115,778 «128,223 «735,626 = 734,128
356,842 170,196 120,834 136,251 784,123 799,473

Direct expenditure has been allocated to the appropriate activity. Restricted depreciation is charged directly to charitable activities. Indirect staff costs and general support costs have been allocated to activities in accordance with accounting policies note c). General support costs for the year ended 31 December 2021 are made up as follows: ;

Direct expenditureexpenditure has beenbeen allocated to the appropriatethe appropriateappropriate activity. Restricted depreciation is charged directly to
charitable activities. Indirect staff costscosts and general supportgeneral supportsupport costs have been allocated to activities in accordanceaccordance
with accounting policies note c). General support costs for the yearcosts for the yearfor the yearthe yearyear ended 3131 December 2021 are made2021 are madeare mademade up as		 Direct expenditureexpenditure has beenbeen allocated to the appropriatethe appropriateappropriate activity. Restricted depreciation is charged directly to
charitable activities. Indirect staff costscosts and general supportgeneral supportsupport costs have been allocated to activities in accordanceaccordance
with accounting policies note c). General support costs for the yearcosts for the yearfor the yearthe yearyear ended 3131 December 2021 are made2021 are madeare mademade up as		 Direct expenditureexpenditure has beenbeen allocated to the appropriatethe appropriateappropriate activity. Restricted depreciation is charged directly to
charitable activities. Indirect staff costscosts and general supportgeneral supportsupport costs have been allocated to activities in accordanceaccordance
with accounting policies note c). General support costs for the yearcosts for the yearfor the yearthe yearyear ended 3131 December 2021 are made2021 are madeare mademade up as		 Direct expenditureexpenditure has beenbeen allocated to the appropriatethe appropriateappropriate activity. Restricted depreciation is charged directly to
charitable activities. Indirect staff costscosts and general supportgeneral supportsupport costs have been allocated to activities in accordanceaccordance
with accounting policies note c). General support costs for the yearcosts for the yearfor the yearthe yearyear ended 3131 December 2021 are made2021 are madeare mademade up as		 Direct expenditureexpenditure has beenbeen allocated to the appropriatethe appropriateappropriate activity. Restricted depreciation is charged directly to
charitable activities. Indirect staff costscosts and general supportgeneral supportsupport costs have been allocated to activities in accordanceaccordance
with accounting policies note c). General support costs for the yearcosts for the yearfor the yearthe yearyear ended 3131 December 2021 are made2021 are madeare mademade up as		 Direct expenditureexpenditure has beenbeen allocated to the appropriatethe appropriateappropriate activity. Restricted depreciation is charged directly to
charitable activities. Indirect staff costscosts and general supportgeneral supportsupport costs have been allocated to activities in accordanceaccordance
with accounting policies note c). General support costs for the yearcosts for the yearfor the yearthe yearyear ended 3131 December 2021 are made2021 are madeare mademade up as		 Direct expenditureexpenditure has beenbeen allocated to the appropriatethe appropriateappropriate activity. Restricted depreciation is charged directly to
charitable activities. Indirect staff costscosts and general supportgeneral supportsupport costs have been allocated to activities in accordanceaccordance
with accounting policies note c). General support costs for the yearcosts for the yearfor the yearthe yearyear ended 3131 December 2021 are made2021 are madeare mademade up as		 i
follows:
;
2021 2020
Recruitment and training 2,877 1,702
"Rent 14,966 14,916 .
Heat'and light 6,076 6,117
Repairsand renewals 14,870 10,495
IT and website 1,959 2,082
Premises expenses 24,262 22,516
Equipment hireand maintenance 4,005 4,283
Cleaning
©		 14,022 10,683 .
Printing, postage and stationery 2,227 2,461
Telephone 2,065 1,964
Insurance 28,291 28,228 5
Legal, professional and building fees 1,575 160
Subscriptions 2,269 2,097
Other overhead costs 2,640 205
Bankcharges 230 235
Irrecoverable VAT : 7,841 36,864
Depreciation (unrestricted assets) 1,576 692
Governancecosts 4,500 4,500
Total 136,251 150200

nnnne EEE EE RICE Annual Report and Financial Statements 2021

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:

;

Notes to the Financial Statements [continued]

The Trustees neither received nor waived any remunerationor benefits during the year (2020 - £0). No expenses were reimbursed to the Trustees during the year (2020 - £0).

Theonly related partytransactions Theonly related partytransactions Theonly related partytransactions intheyearwerewith theRoyal United Hospitals(RUH). (RUH).Thesetransactions transactions can
be broken down as follows: 2021 2020
£ £
.
Fundsfrom RICE to RUH
Stationary, medical supplies, andsundries 1,862 1,106
Medical scans 11,028 1,744
Building: rent and services 29,068 29,018*
Staff:jointpost ; 61,604 49,250*
Total 103,562 81,118
2021 2020
F3 £
Funds from RUH to RICE
Research trials		 25,473 1861
Research projects 5,163 11,230
Medical students’ tuition 875 662
Room hire 705 1,520
Clinical support i = 12,693
Benefits in kind - 33,396*
“Total 32,216 61,362

*During 2020, the RUH generously donated benefits in kind to RICE in support of the financial challenges RICE was facing due to the pandemic. The benefits in kind are included in the 2020 comparative figures.

ne EEE

RICE Annual Report and Financial Statements 2021

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Notes to the Financial Statements [continued]

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|||||| |---|---|---|---|---| |2021|2020| |i|£|£| |Wages and salaries|476,138|521,376| |Employers’|national|insurance|33,747|38,122| |Pension|costs|17,153|18,934| |527,038|578,432|

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One employee was remunerated in total more than £60,000 in the year. Key management personnel include the Director and Deputy Director. Staff costs of the key management personnel were as follows: | 2021 2020

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |2021|2020| |£|£| |Wages|and salaries|83,794|69,316| |Employers’|national|insurance|:|6,790|8,641| |Pension|costs|11,550|3,193| |102,134|81,150| |The average|number of employees,|based on|full-time|equivalents and|analyses|by function, was:| |2021|2020| |Research|and|clinical|activities|10|11| |:|=| |Management|and|administration| |“Total|aes.|12|14|

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The net movement in funds is stated after charging

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |2021|2020| |£|£| |Depreciation|and|amortisation|(unrestricted)|1,576|692| |Depreciation|(restricted|fund|assets,|including|RICE|Centre)|37,584|37,360|:| |Auditors’|remuneration|4,500|4,500| |Operating|lease|rentals|- leasehold|land|and|buildings|14,966|14,916| |Operating lease|rentals|- equipment|2,626|2,947|

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Ea 3 RICE Annual Report and Financial Statements 2021 32

32

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Notes to the Financial Statements [continued] 10a. Tangible fixed assets

Leasehold
\
Premises		 Office
:
Equipment		 Research
;
Total
Equipment
£ £ £
£
Cost
At 1 January 2021
1,723,425		 136,476 15,206
1,875,107
Additions
°*
-		 - =
*
Disposals
-		 (1,370) -
(1,370)
At 31 December 2021
1,723,425		 135,106 15,206
1,873,737
Depreciation
At 1January 2021
428,687		 136,476 10,083
575,246
Charge foryear
35,608		 - 2,668
38,276
Disposals
-		 (1,370) -
(1,370)
At 31 December 2021
464,295
GENES ea
aege a		 135,106 12,751
612,152
Net bookvalue
Pbabet i ettVoie) Ee
ee
ee
At 31 December 2021
1,259,130		 en
eeeeT
-
2,455
1,261,585
At31 December 2020
1,294,738
-
5,123
1,299,861
I eae re
Ee
EE
As a result of RICE’s investment in relocatingto a new site in 2008, there is a significant annual depreciation charge
on property restricted assetsthat is included intheStatement ofFinancialActivities eachyear as resources
expended onrestrictedfunds, Additionally, in2019,RICEcompleted itsatticconversionworkwhichresulted in
additional depreciation charges on property restricted assetsand which is beingaccounted for inthesameway as
theexisting propertyrestricted asset.The total propertydepreciation chargeamounted to£35,608 intheyear
ended31 December2021 (2020 - £35,509).The annual depreciation charge reducesthe valueofthe restricted fund
asset inthe Balance Sheet as in note d) of the Accounting Policies.
i 10b. Intangible fixed assets
:
Website
£		 Total
£
Cost '
At 1January 2021
7,064		 7,064
Additions
z		 a,
2
At31 December 2021
7,064		 7,064
Amortisation
At 1January 2021
-		 =
Charge foryear
884		 , 884
At 31 December 2021
884
B84
a
ahe
Net book value ;
At31 December 2021
6,180		 6,180
At31December2020
7,064		 7,064

i 10b. Intangible fixed assets

The launch of RICE’s new website was delayed into 2021. This asset was amortised from July 2021 in accordance with note d) of the Accounting Policies.

a RICE Annual Report and Financial Statements 2021

33

Notes to the Financial Statements [continued]

: |

11. Debtors — amounts falling due within one year

2021 2020
£ 1
Research grantsand other trade debtors 56,302 16,588
Accrued legacy income 274,892 74,892
Other debtors and accrued income 2 39,297 56,024
370,491 147,504

12. Creditors — amounts falling due within one year

:

2021 2020
E
£ £
Trade creditors ; 14,396 30,934
Other creditors and accruals 16,773 9,286
Taxation and national insurance 15,710 68,319
il 46,879 108,539

:

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RICE Annual Report and Financial Statements 2021

34

Notes to the Financial Statements [continued]

‘

| | |

13a. Restricted funds

1January
Incoming
Resources
Transfers
31 December
: 2021
Resources
Expended
2021
=
£
£
£
£
Revenue funds
Dementia PlusAppeal (DP Appeal) 45,000
-
41,975
-
3,025
PrAISED2 Project 19,920
69,747
59,667
-
. 30,000
ResearchCapacity Funding 11,206
4,293
11,206
-
4,293
Government grant -furlough -
722
722
-
-
‘Support courses - various -
10,827
2,180
-
8,647
Memory clinic - backlogfunds -
7,750
7,750
-
z
Buildingworks -roof roofrepairs -
35,650
9,630
-
26,020
Capitalfunds :
The RICE Centre - building © 1,294,738
-
35,608
*
1,259,130
ECG Machine 4,176
-
1,275
-
2,901
Resus Trolley 772
-
256
-
516
Defibrillator ; 1,625
=
500
-
1,125
Total 1,377,437
128,989
170,769
<
1,335,657
The purpose of each fund is as follows:
Dementia PlusAppeal (DPAppeal) To fund the expansion ofRICE research programme and the RICE
Centre
PrAISED2 Project Fundsfrom University ofNottingham, Nottingham University
HospitalsNHSTrustand National Institute for Health Research, to
study activity, independenceand stability in patientswith early
ResearchCapacityFunding . dementiaandmild cognitiveimpairment
Fundsfrom Royal United Hospitals tofund researchstaffcosts,
public patient involvement group activity and an exercisesnacking		 . .
project
Government grant - furlough
Supportcourses -various
:		 To coverpayroll-related costs ofstafffurloughed under the
government's furloughscheme
FundsfromtheMcLayDementiaTrustto supportpatientsand
carers through the provision ofCognitiveStimulationTherapy, Post
; DiagnosticSupportand Carers Courses
Memory clinic - backlogfunds FundsfromThe Harford Charitable Trust,The Kirby Laing
Foundation andThe Grace Trust, to reduce the backlog of patients
waiting to be seen in thememory clinic
Buildingworks -roof roofrepairs Funds from TheScrewfix Foundation,TheClark Foundation, Ray
Harris Charitable Trust, Annett Charitable Trust, Elise Pilkington
; Charitable Trust, and individual donors, to fund the cost ofurgent
. repairstotheRICECentreroof

The purpose of each fund is as follows:

RICE Annual Report and Financial Statements 2021

35

Notes to the Financial Statements [continued]

:

ak

‘

|

}

| |

The RICE Centre - building

To fund the construction of the new RICE Centre (2008) and attic conversion (2019)

ECG Machine

Funds from Medlock Charitable Trust and James Tudor Trust to purchase and maintain a new ECG machine at the RICE Centre

----- Start of picture text -----
|||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |Resus|Trolley|Funds|from|Novia|Foundation|to|fund|the|purchase|of|a|new|Resus|°| |Trolley|at|the|RICE|Centre| |"Defibrillator|.|Funds|from|The|Ray|Harris|Charitable|Trust to|fund|the|cost ofa| |new|emergency|defibrillator|at|the|RICE|Centre| |13b.|Comparative|restricted|funds| |1 January|Incoming|Resources|Transfers|31|December| |2020|Resources|Expended|2020| |£|£|£|£|£| |Revenue funds| |IDEAL|(Exeter)|:|188|188|x| |Dementia|PlusAppeal|(DP Appeal)|85,248|6,525|46,773|.|45,000| |Harford|Charitable|Trust|-|courses|-|1,500|1,500|=| |Essex|Trust|-|Music Therapy|Project|-|7,500|7,500|-|-| |PrAISED2|Project|mai|64,141|*|44,221|.|19,920| |RUH|Research|Capacity|Funding|-|11,230|24|:|11,206| |Government|grant|-|furlough|-|47,453|47,453|.|-| |National|Lottery|Community|Fund|2|10,000|10,000|-|=| |Quartet Community|Foundation|-|5,000|5,000|-|-| |Capital|funds| |The|RICE|Centre|-|building|1,324,955|-|35,509|5,292|1,294,738|;| |ECG|Machine|- Medlock|Charitable|5,396|1,220|.|4,176| |Trust and James Tudor Trust| |_|Resus|Trolley|-|Novia|Foundation|1,028|-|256|-|772| |Defibrillator|-|Ray|Harris|Charitable| |Trust|-|1,000|375|-|1,000|1,625| |Chairs|and|Dishwasher|-|WG|Edwards| |Total|1,416,627|155,767|201,249|6,292|1,377,437| |pecs|ape ene|eae|ee|ie|ee|le|ee|ee|

----- End of picture text -----

"Defibrillator ,

| RICE Annual Report and Financial Statements 2021

36

Notes to the Financial Statements [continued]

g

‘

.

| |

| | | |

Tangible Fixed Other Net Total funds
Assets Assets * 2021
£ £ £
,
Revenue Funds
Dementia PlusAppeal (DP Appeal) - 3,025 3,025
PrAlISED2 Project ~ 30,000 30,000 :
Research Capacity Funding : 4,293 4,293
Support courses - various - . 8,647 8,647
Buildingworks - roofrepairs - 26,020 26,020
Capital funds
The RICE Centre - building 1,259,130 - 1,259,130 :
ECG Machine 300 2,601 2,901
Resus Trolley 516 - 516
Defibrillator 1125 - 1,125
Total restricted funds
1,261,071
74,586
eeeee		 1,335,657
eee
Unrestricted funds - general 6,694 586,086 592,780
Unrestricted funds -designated - 100,000 100,000
Total unrestricted funds 6,694 686,086 —«692, 780
Totalfunds 1,267,765 760,672 2,028,437

The unrestricted — designated fund was set aside by trustees in 2021 to fund specific research and education activity, and will be spent over the next three years.

:

Oe Eee ee eee ee

ee Ee EE eee

RICE Annual Report and Financial Statements 2021

37

| |

Notes to the Financial Statements [continued] 15. Commitments under operating leases

The Trust has annual commitments under non-cancellable operating leases as follows:

Otherthan Land and Buildings 2021 2020
£ a
Due within 1 year 1,001 2,760
Due within 2-5 years 4,003 2,760
5,004 5,520
Leasehold Land and Buildings 2021 2020
(99 year leaseon land) e f
Due within 1 year 14,966 14,964
Due within 2-5 years 59,864 59,856 '
Due after5years _1,212,246 1,227,048
1,287,076 1,301,868

16. Pension scheme

RICE operates defined contribution pension schemes for its employees and the assets are held and managed independently from the charity. The pension costs disclosed in Note 8 represent contributions payable for the year. At 31 December 2021, there were outstanding pension contributions of £241 (2020 — £1,746).

|

SSS sss — ; RICE: Annual Report and Financial Statements 2021

38

Notes to the Financial Statements [continued]

ef

  1. Comparative statement of financial activities for year ended 31 December 2020
Unrestricted
finde		 :
Restrictedfunds		 :
Restrictedfunds		 :
Restrictedfunds		 Total funds
9020		 Totalfunds
2019
Notes £ £ £ £
Income
Donations and legacies au 156,148 - 156,148 95,973
Fundraising activities 2 100,770 32,/55 133,525 231,385
Investments 3 1,262 2 1,262 1,273
Charitable activities -
Research and clinical 4 392,638 123,012 515,650 708,520
activity
~
Total Income 650,818 155,767 806,585 1,037,151
Expenditure
Raising funds 5 65,345 - 65,354 80,750
Charitable activities - :
Researchand clinical 5 532,879 201,249 734,128 1,015,291
activity
Total Expenditure 598,224 201,249 799,473 1,096,041
NetGains/{Losses)on . 10 ; : ¢ 37,841
Investments foPad
Net Income/Expenditure 52,594 (45,482) 7,112 (21,049)
Transfersbetweenfunds
the year		 in (6,292) 6,292 - F
Netmovement in funds 46,302 (39,190) 7,112 (21,049)
Reconciliation offunds
Totalfunds at 1January2020 2020 530,644 1,416,627 1,947,271 1,968,320
TotelTundieatesDacamner
576,946
a)!i
ea
ee
eee:eeeee		 1,377,437
ee		 ne 1,954,383
ee		 1,947,271
eeeee

a ng re ee es ee

RICE ; ‘ Annual Report and Financial Statements 2021

39