2025-12-31-accounts

Report of the trustees and financial statements

For the year ending 31 December 2025 for ReMind UK Charity

Company number: 02979617 Charity number: 1042559 ReMind UK is the trading name for ReMind UK Charity

Contents

Trustee Report

Welcome from the Chair...................................................................... 3 Our Vision, Mission and Values ............................................................................. 5 Our Impact, Objectives and Future plans................................................................8 ................................................... 22 Legal and administrative details Structure, governance and management.............................................. .23

Financial Statements

Financial Review 25 Report of the Independent Auditors to the Members of ReMind UK 30 Statement of financial activities 34 Balance sheet..................................................................................... .35 Cash flow statement........................................................................... ................................36 Accounting Policies............................................................................. ................................37 Notes to the Financial Statements....................................................... ................. 40

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Welcome from the Chair

I am delighted to present the ReMind UK Annual Report and Financial Statements for 2025.

2025 has been a year of consolidation allied to steady growth as we focus on investing in our team whilst continuously reviewing and improving how we deliver all our services. We have worked hard to alleviate pressures on our financial position and invested carefully in new roles, thanks to the new research fund provided by philanthropist John Osborn and continuing support from the Discworld Foundation and Dementia Research UK. These have allowed us to grow our research capacity substantially.

Our accounts for 2025 show a surplus, which is a demonstration of our careful husbandry of expenditure combined with improved income generation. We secured additional grant funding in 2025 for work to be delivered in 2026, including gifts from McClay Dementia Trust and St Monica Trust. In addition, we have been successful in obtaining further short-term funding from our NHS commissioners to reduce waiting times for the memory clinic.

The team at ReMind UK is committed and dedicated to our vision of early intervention. Improving the lives of people impacted by dementia is the core purpose of ReMind UK and the team have put in outstanding efforts, for which I would like to commend them. The clinical team has been strengthened by the appointment of a senior research nurse and memory clinic manager, resulting in improvements of our clinical trial and memory clinic organisation.

The Board of Trustees has been constructively supportive of the Senior Leadership Team in their efforts to develop the culture of ReMind UK whilst being very focused on improving the financial position and governance of the charity.

2025 has been another successful year in maintaining ReMind UK’s profile as a cuttingedge, health research charity. Five papers have been published this year under Dr Tomas Welsh’s name, either alone or in collaboration with others maintaining and developing our position as a leading UK research-based dementia charity, in journals that are regarded as amongst the most prestigious.

Alongside our academic work, we continue to participate in commercial drug trials, with a range of phase one to three trials being undertaken at our centre. As one of only a handful of research centres with facilities to undertake phase one trials, we are proud to have become affiliated with the UK Dementia Trials Network (UKDTN) in 2025. As one of 20 centres across the UK, we will work together to increase participation in and development of phase one trials. This will also enable us to enhance our research nurse capacity to boost trial participation.

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Post diagnosis support, underpinned by funding from the National Lottery’s Reaching Communities Fund entered its third year. Interventions and resources continue to increase and enhance our non-medical support to families impacted by dementia, consistently achieving positive feedback. We delivered seventeen interventions and supported 343 people through our support offers: five wellbeing courses, six seasonal events, a Cognitive Stimulation Therapy (CST) course and six carers information workshops. We also provided listening support to many more people with dementia and carers and provided resources in the community as part of our community engagement work. We continue to increase the number of volunteers who support our post-diagnosis interventions, office and administration, as well as tending to the ReMind UK garden and helping in the community. We have been able to attend numerous community fairs and meetings thanks to a lottery-funded Volunteer & Community Engagement post.

ReMind UK is commissioned to provide the NHS memory assessment service for Bath and North East Somerset (BaNES). The service assesses and diagnoses those with memory problems and our service has been rated outstanding by the Care Quality Commission.

We were pleased to be awarded a one-year contract extension in 2025 from the NHS Integrated Care Board for Bath and North East Somerset, Swindon and Wiltshire (ICB BSW) to deliver the memory assessment service. While longer term stability would have been welcomed, we recognise that 2025 represented a transitional period for the commissioning of the service, as responsibility for delivery moved from one major provider to another. It also transferred memory services into the mental health arena.

Throughout the year, the ICB engaged proactively with us in discussions about the long-term future of memory assessment provision and towards the end of the year supported us with additional resources to help reduce waiting times for appointments, which will continue into 2026. During 2025, the team continued to review and refine our assessment processes to ensure we maintain a high-quality service delivered efficiently and within the financial envelope set by the NHS.

ReMind UK is committed to providing the highest-quality memory assessment service to Bath residents and beyond, and we will be making every effort to secure a longer-term contract that supports excellence.

Finally, I would like to pay tribute to our staff, trustees and volunteers for all their efforts, hard work and enthusiasm, and to our Patron and President for their support. To all those who contribute to ReMind UK through donations and legacies and to our beneficiaries and to their families, without whom we would have no cause to exist, I would also like to say a personal thank you. It is a huge commitment that our patients and their loved ones make, and this is invaluable to the work of ReMind UK.

Dr Mark Kingston, Chair of the Board of Trustees Dated: 03/03/2026

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Our Vision, Mission and Values

The purpose of ReMind UK as defined in our Articles of Association is:

‘To relieve sickness and 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.’

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Vision

A world where early intervention wins to improve the lives of millions more people across the world.

We work towards this by getting ahead of dementia in all aspects of our work, diagnosing sooner and providing expert and empathetic interventions earlier. Improving the quality of life for those we support. We are at the forefront of research, and by sharing our work, we aim to improve the lives of people locally, nationally, and internationally.

Purpose

Getting ahead of dementia.

Providing high quality diagnosis as soon as possible, earlier intervention and helping to reduce and manage the impact of the diseases that cause dementia, whilst improving the quality of lives for those impacted by dementia and their families.

Values

Progressive: We are progressive, always looking to learn and improve.

Curious, inquiring and open to possibility Ambitious, always looking to improve Sharing knowledge and ideas Future focused

Expert: We are experts in our field. We share our knowledge and work with colleagues and partners to get the best outcomes for the people we support.

Research driven

• Value clinical, academic, technical and organisational skills

• We deliver trusted services and information, always accurate, consistent and patient focused.

• Sharing knowledge and ideas Patient centred

Empathy: We are committed to working both internally and externally in partnership and in a respectful, empathetic and compassionate manner.

• Collaborate Respect and value others Empathy Compassion

Collaboration: We work together as a team internally and externally delivering effective communication, valuing others and being inclusive.

• Effective communication Inclusive Listen and support Celebrate what we achieve as a team

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ReMind UK has three key areas of activity with research at the heart of all that we do.

Research: Internationally renowned brain health research institute (Research Institute for Brain Health)

Diagnosis: Early intervention to diagnose and treat diseases that cause dementia as early as possible (Brain Health Clinic)

Support: Expert and empathetic care post diagnosis for those diagnosed and those closest to them

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Our Impact, Objectives and Future plans

What drives us at ReMind UK

Dementia affects far more than the individual diagnosed. Families and carers often face emotional, physical and financial pressures, while navigating uncertainty and change. Despite dementia being the UK’s leading cause of death, research remains underfunded and progress in treatment has been slow and for those impacted by the condition it can extend far beyond forgetfulness. Alzheimer’s disease, the most common form of dementia, can lead to confusion, anxiety, communication and visual difficulties, and often occurs alongside other serious health conditions. Many people living with dementia also experience loneliness, financial pressures and increasing vulnerability.

Nearly one million people are currently living with dementia in the UK, with projections to rise to 1.4 million by 2040. While there is still no cure, early diagnosis, better support and continued research can make a meaningful difference.

ReMind UK was founded to accelerate progress in dementia research and improve the care and support that is provided. We are proud to work alongside people living with dementia and their families, involving them directly in research, services and the development of future treatments.

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Our objectives in 2025

In 2025, our work focused on strengthening our services, expanding research and supporting people affected by dementia in practical, compassionate ways.

Our objectives were to:

Advance - Increase participation in world class research and clinical trials enabling our families to benefit from cutting edge research and be part of the solution, whilst also looking at ways to support those currently living with dementia.

Empower - Deliver and develop high quality, funded services, that support those impacted by dementia and their families, as well as partnering and working with others. We will focus on early intervention and prevention, alongside the other aspects of our work in research and support.

Enable - Develop post diagnosis support offers that build connections and resilience in people impacted by dementia whilst also inputting into the development of ReMind UK.

• Connect - Increase the profile of ReMind UK to raise understanding of our work, promote our activities and attract fundraising and engagement in our research, support, services and volunteering.

Grow - Strengthen and diversify income streams to support ‑ long term sustainability and future growth for our services, research and post diagnosis support.

• Secure - Improve and optimise our financial position with robust internal processes and focusing on a diverse range of income sources to support those living with dementia.

• Thrive - One team committed to supporting those impacted by dementia.

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What we achieved

We describe below the main activities undertaken to meet these objectives. All our charitable activities have focused on reducing the impact of health problems in older age and have been undertaken to further ReMind UK’s purpose and for public benefit.

Advance – Research at the heart of what we do

Research sits at the heart of everything we do at ReMind UK. For more than 40 years, we have played an active role in advancing understanding and treatment of dementia and other conditions affecting older people. During this time, we have been involved in trials of more than 50 potential drug treatments and have contributed to the development of five of the six treatments currently licensed for dementia in the UK.

Our unique model as a charity brings together clinical care, diagnosis and research under one roof. This enables people living with dementia, and their families, to take part in research in a supportive and familiar setting, while directly contributing to increased knowledge and the development of future treatments. Our research portfolio spans early ‘first‑in‑human’ ‑ studies through to large scale trials designed to evaluate treatment effectiveness in real‑world settings.

Taking part in research can also offer meaningful benefits for participants. Many people value the opportunity to engage with others, gain a better understanding of their condition, and feel part of the wider effort to improve outcomes for people affected by dementia.

Strengthening our research capacity

The Osborn Research Fund has enabled us to significantly strengthen and expand our research capability during 2025. With this support, we appointed a senior research nurse and Memory Clinic Team Manager, increasing both our capacity and expertise. This role has been instrumental in developing and refining research processes across the organisation, helping us work more efficiently while maintaining the highest standards of care and governance.

This investment has also improved collaboration between our clinical and research teams, ensuring that research activity continues to be well integrated within our wider service delivery alongside updating some key clinical equipment to enable us to operate more trials at any one time.

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UK Dementia Trials Network (UKDTN)

In 2025, ReMind UK was selected to join the UK Dementia Trials Network (UKDTN), a prestigious national initiative supported by the National Institute for Health and Care Research (NIHR). The network brings together research centres, healthcare providers, industry partners, charities and people affected by dementia to ‑ expand the UK’s capacity for early phase dementia clinical trials.

Despite nearly one million people living with dementia across the UK, fewer than 1% of those ‑ diagnosed entered early stage trials in 2023/24. The UKDTN aims to address this gap by improving access to trials and strengthening national research infrastructure.

As one of the eight first wave member sites, ReMind UK will be able to offer people across the South West greater opportunities to participate in cutting‑edge research. Membership will also enable us to enhance our research nurse capacity through participation in the Dementia Research Nurse pilot programme, funded by the Alzheimer’s Society. These specialist nurses are designed to support recruitment from more diverse communities and to provide ongoing support for participants throughout their research journey. Our Dementia Research Nurse will join the team in March 2026 connecting more people to dementia opportunities at our centre.

Novel treatments for Alzheimer’s disease

During 2025, we continued to deliver clinical trials investigating the safety and effectiveness of novel disease‑modifying treatments for Alzheimer’s disease. While two recently developed treatments - Donanemab and Lecanemab - have not yet been approved by the National Institute for Health and Care Excellence (NICE), we remain actively involved in trials of several other promising therapies aimed at slowing or preventing disease progression.

These studies reflect our continued commitment to ensuring that people accessing services at ReMind UK are able to contribute to, and benefit from, the development of future treatments.

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Collaboration and partnerships

Collaboration and partnerships are key to our research activity. We work closely with academic and clinical partners including the Universities of Bath, Bristol and the West of England, combining expertise in dementia, ageing and research methods. Through these partnerships, we aim to embed research into the diagnostic pathways.

Our Research & Medical Director, Dr Tomas Welsh, continues to play an active leadership role nationally and internationally. During 2025, he held positions including Honorary Senior Lecturer and Lead for Complex Medicine of Older People at the University of Bristol, Clinical Lead for Dementia at the Royal United Hospital, and Research Delivery Network (South West Central) Specialty Lead for Dementia and Neurodegenerative Disease.

In November 2025, Dr Welsh was appointed Deputy Honorary Secretary and Deputy Vice‑President for Policy at the British Geriatrics Society. He also serves as Co‑Chair of the British Geriatrics Society Dementia and Delirium and Brain Health Specialist Interest Group and of the European Geriatric Medicine Society’s Brain Health and Dementia Specialist Interest Group.

In addition, Dr Welsh is an Associate Editor of the Age & Ageing medical journal and Secretary of the Geriatric Medicine Specialty Certificate Examination Board at the Royal College of Physicians.

Sharing and growing our impact

We are committed to sharing research findings widely, not only within academic and clinical communities but also with people living with dementia and the wider public. During 2025, members of our research team delivered eleven oral and poster presentations at national and international conferences and published five ‑ articles in high impact academic journals.

Research participation also increased significantly during the year. A total of 146 people took part in research studies at ReMind UK during 2025, supported by an active pool of 278 healthy volunteers who contributed either to our own studies or to projects led by partner institutions.

Throughout our research activity, we remain focused on increasing diversity in participation. Ensuring research reflects the populations we serve is essential to improving health outcomes and developing treatments that work for everyone.

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Research

In 2025, ReMind UK was involved in eight clinical trials. The trials included the Evoke and Evoke plus trials, Janssen Autonomy trial, Target-Tau1, RETAIN, TRAILBLAZER-ALZ5, MSD MK-2214, MSD MK-1167 and Trontier2. We were also involved in five other academic research projects, including AFRI-c, SIPA-2, READ-OUT, FASTBALL, and CareCoach.

SIPA-2 is looking at medicines management in people with sensory impairment in collaboration with the University of Strathclyde. As part of this project, we provided advice on the development of an online educational course on medication management for people with sensory impairment which is now available on Future Learn.

The importance of research being available to a more diverse population is critical to the success of clinical research.

The TRAILBLAZER trial is investigating further the potential benefits of the drug Donanemab, following on from its licencing by MHRA and other countries around the world.

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 Janssen Autonomy trial is exploring whether a new compound called JNJ63733657 is safe and effective for treating early Alzheimer’s disease and mild dementia due to Alzheimer’s disease.

The AFRI-c study is trialling the use of air filters in care homes to reduce infection.

The CareCoach project , led by the University of Exeter, tested the impact of a package of online resources and tips to help carers of people with dementia to have the information and skills that they need to manage and support the day-today care of their loved one. Our staff were trained to act as coaches to the carers.

Trontier-2 is investigating the effects of the drug trontinemab – a novel antiamyloid medication which uses ‘brain shuttle’ technology and has produced some exciting phase 2 results.

MSD MK-1167 is investigating a symptomatic treatment for Alzheimer’s disease. This is a much-needed avenue of research as current symptomatic treatments has a modest benefit at best.

MSD MK-2214 is investigating a novel antitau antibody.

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ReMind UK continued its involvement in the NIHR Clinical Research Network’s Research Site Initiative, meeting its 2025 target by recruiting to four eligible studies. This scheme has now been replaced by the NIHR Wider Care Settings funding stream which we have successfully applied to.

Our ReMind UK PhD Fellowship, part-funded by the Medlock Charitable Trust, also progressed well. Now nearing completion – with the PhD Viva planned for summer 2026, the project explores links between dementia and psychological distress using ‘Big Data’ from the Clinical Practice Research Datalink, covering around 60 million patients. This work is deepening our collaboration with the University of Bath and strengthening future research capacity.

Brain Health Clinic

As part of our mission to get ahead of dementia we have continued with the pilot of the pioneering Brain Health Clinic at ReMind UK, thanks to funding from St John’s Foundation. We have tailored the service based on the feedback we have received and will be promoting the service widely in 2026 to ensure there is greater understanding that dementia is not an inevitable part of ageing.

“You never know your brain health results might be better than you think and knowledge is power.”

Sarah, 69, Bath

We know that the risk of developing dementia is influenced by a combination of factors. Some, such as age, cannot be changed. Other risks are modifiable and can be addressed, which is where the Brain Health Clinic steps in. The service focuses on the modifiable risk factors, supporting individuals to understand them and take steps to improve their brain health.

“When I retire, I want to be fit and well enough to live a full life for as long as possible. Working with older people, I have a strong awareness of dementia and how devastating an illness it can be for the person, their friends and family.”

Debbie, 62

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Empower - Diagnosis and memory assessment

ReMind UK continues to deliver an NHS memory assessment service for people living in Bath and North East Somerset (BaNES), commissioned by the Bath and North East Somerset, Swindon and Wiltshire Integrated Care Board (BSW ICB). The service has been rated Outstanding by the Care Quality Commission, reflecting both the quality of care provided and the commitment of the clinical team.

Referrals to the service are accepted from GPs and other health professionals. Alongside our NHS provision, we also offer a private memory assessment service, which is accessible to people living outside the BaNES area. Demand for this service continued to increase during 2025, reflecting rising national waiting times for memory assessment services across England.

At our clinics, individuals receive comprehensive assessments delivered by our multi‑disciplinary clinical team. Where appropriate, this may result in a diagnosis, alongside treatment recommendations, clear guidance and onward support. Importantly, we also support people whose assessments do not result in a diagnosis of dementia, providing reassurance, advice and signposting where needed.

We are proud to offer person‑centred, ‑ high quality care in an environment designed to support people at what is often a stressful and uncertain time. Our purpose‑built centre in Bath ‑ provides a calm, low stimulus setting, and our longer appointment times allow space for people to feel heard, understood and supported. This is particularly important for those experiencing memory loss, confusion or increasing isolation.

During 2025, we assessed 350 new patients and delivered over 600 medication reviews, ‑ alongside 222 follow up appointments. Demand for the NHS memory assessment service remained high throughout the year, with almost 700 referrals received. This reflects both the national increase in dementia prevalence and wider funding pressures within NHS services.

The team worked hard during 2025 to review and refine assessment processes, focusing on maintaining quality while using available resources as effectively as possible. Thanks to external investment, we were able to appoint a Senior Research Nurse and a Memory Clinic Team Manager. This role has strengthened leadership and coordination within the service, helping to optimise how clinical time is used and supporting the team to deliver care more efficiently.

Despite these efforts, waiting lists grew over the course of the year, as funding levels remained static while demand continued to rise. We worked closely with commissioners and NHS colleagues to raise concerns about waiting times and service pressures. Towards the end of 2025, we were pleased to secure additional resources from the Integrated Care Board to support waiting list management. Recruitment into these newly funded roles took place promptly, and this investment will enable a reduction in waiting times during 2026.

Alongside NHS provision, our private memory assessment service experienced a 35% increase in demand during 2025. We supported individuals from across the UK who were seeking timely diagnosis and specialist assessment, further demonstrating the strength of our clinical reputation and the growing need for accessible memory services.

Throughout all aspects of our diagnostic work, our focus remains on delivering compassionate, ‑ expert and person centred care — supporting people and their families with clarity, dignity and respect at every stage of their journey.

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Enable - Post-diagnosis support

‑ ReMind UK provides a range of post diagnosis support services designed to help people live as well as possible with a dementia diagnosis, while also supporting the family members, friends and carers who play a vital role in their lives. Our approach recognises that diagnosis is not an endpoint, but the beginning of a new set of challenges — and opportunities — to develop support, connection and resilience.

‑ Our post diagnosis programmes are funded through the generous support of trusts, foundations and individual donors. In 2025, engagement with these services increased by 40% on 2024, reflecting both growing demand and the value people place on accessible, ‑ high quality support.

Our post-diagnosis support programme

Carers Information Days

These half‑day programmes are designed for people caring for relatives or friends with dementia. The sessions provide practical information, guidance and reassurance, covering topics such as coping strategies, managing stress, and addressing feelings of isolation. Participants also receive advice on financial matters, local services and sources of support, helping carers feel better equipped and less alone in their role.

Cognitive Stimulation Therapy (CST)

Our Cognitive Stimulation Therapy programme ‑ is a structured, seven week course for people with mild to moderate dementia. The sessions are interactive and engaging, using themed activities to stimulate memory, language and thinking skills. Participants are also introduced to activities and strategies that they can use outside the sessions to support their memory and cognitive function.

Wellbeing courses

Our ten‑week wellbeing courses are designed to connect people affected by dementia and help boost overall wellbeing. These programmes create a safe, supportive space where participants can share experiences, learn from one another and enjoy activities together. The courses are open to people living with a memory condition and those close to them, helping to strengthen relationships and mutual understanding. Activities include gentle movement, creative crafts, quizzes and games, shared memories, and talks from expert speakers.

Seasonal and community events

Alongside our structured courses, we offer a range of one‑off seasonal events and activities. These sessions provide informal opportunities for people affected by memory problems and their loved ones to connect, try something new and enjoy positive shared experiences. During 2025, activities included collaborations with local organisations such as the Holburne Museum, EcoWild, Bath Urban Treescapes and the National Trust, as well as creative workshops and team‑based games.

Across all programmes, our focus is on inclusion, enjoyment and building confidence — supporting people to remain socially connected and engaged within their communities.

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Partnership working

We work closely with local organisations and services to ensure people affected by dementia are aware of the full range of support available to them. Our partnerships include Alzheimer’s Society Dementia Support Workers, Carers’ Centre Bath & North East Somerset, Age UK BaNES, Curo’s Independent Living Service and the local organisations involved in our seasonal and community activities.

By working collaboratively, we aim to reduce fragmentation and ensure people receive the right support, at the right time, in the way that works best for them.

Voices from people we support

Feedback from participants consistently ‑ highlights the value of our post diagnosis support, both in terms of practical benefit and emotional wellbeing. People tell us they appreciate the welcoming atmosphere, variety of activities and the chance to connect with others who understand their experiences.

“It was entertaining and lovely chatting with people. It’s nice to come here, and the staff and facilitators make it very interesting.”

“It’s great to have a variety of activities and a chance to meet different people.”

These experiences reinforce our belief that ‑ post diagnosis support is central to improving quality of life for people living with dementia and those close to them.

Grow

In 2025, we began to see the impact of our refreshed brand and identity, alongside sustained investment in community engagement and communications. Together, these efforts helped raise awareness of ReMind UK’s work and strengthen how people understand and connect with our mission.

We saw growth in the number of people choosing to support us through events, donations and volunteering. Income from both Individual Giving and Regular Giving increased during the year, reflecting stronger engagement with a broader range of supporters. Alongside this growth, we continued to focus on building sustainable systems and processes to support fundraising activity effectively. Throughout the year, we continued improving efficiency and insight across fundraising and engagement, making greater use of digital platforms to communicate with supporters and manage relationships. Email newsletters and social media continued to play an important role in keeping people informed about our work, while also offering opportunities for involvement and support.

We also expanded the ways in which people could support ReMind UK. This included the launch of a new online shop offering Christmas cards, providing an additional, accessible route for supporters to contribute while also helping to raise awareness of our work more widely.

Across all fundraising activity, we remained focused on demonstrating impact and building ‑ a strong, evidence based case for support. The consistently positive outcomes seen across our ‑ services, research and post diagnosis support strengthened conversations with donors and funders and reinforced confidence in the value of investing in our work.

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As we look ahead, our focus remains on maintaining and developing existing fundraising channels, while planning carefully for future growth. We will continue to invest in capacity and skills to broaden ReMind UK’s income portfolio, diversify funding sources and support ‑ long term sustainability — ensuring we can continue to deliver research, services and support for people affected by dementia.

Connect

In 2025, we reached more people than ever before, meeting one of our key strategic aims to increase awareness of ReMind UK and engagement with our work. Our online reach grew significantly, with a year‑on‑year increase of over 46% in visitors to our website and growth of more than 67% across our social media platforms. Subscriptions to our e‑newsletter increased to over 1,000 individuals, a rise of 143%, demonstrating strong and growing interest in our work from a wide range of audiences.

We continued to engage with local and regional media to raise awareness of dementia and highlight ReMind UK’s expertise. During the year, our work featured on BBC Somerset, BBC Bristol and Radio Bath, helping to extend our reach and share trusted information with the wider community.

Collaboration remains central to how we connect and influence. ReMind UK continues to work closely with a wide range of universities and international research teams, both through our own research programmes and through new relationships such as our affiliation with the UK Dementia Trials Network. Alongside this, we actively share research to promote healthy ageing and contribute to discussions that influence health and care policy.

In 2025, we published five academic papers and presented our work at national and international conferences. Our research was also featured in a range of magazines and publications and highlighted through local radio interviews, supporting wider understanding beyond clinical and academic audiences.

Education is an important part of our influencing role. We continued to deliver teaching sessions on dementia, polypharmacy and older people’s health to medical students at the University of Bristol, pharmacy students at the University of Bath and local GPs, helping to build knowledge and confidence across the health and care workforce.

At the heart of our work is the voice of people affected by dementia. Our Lived Experience Advisory Panel meets regularly to ensure that experiences of dementia inform and shape all aspects of what we do, from service design and research to engagement and communication.

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Secure

During 2025, we continued to strengthen our financial management and internal controls to ‑ support ReMind UK’s long term sustainability. We enhanced our integrations with the Xero financial system and made increased use of Beacon to manage and monitor income more effectively.

Alongside this, we reviewed our commercial contracts to ensure payment terms and cashflow were being actively considered and managed. We also improved our internal processes for assessing and allocating time across different areas of activity, helping us better understand the true cost and value of our work.

Together, this activity has strengthened governance of our income, improved financial oversight and supported more informed decision‑making. It ensures that ReMind UK ‑ remains financially resilient and well placed to sustain and develop our services, research and support in the years ahead.

Thrive - our people and culture

Following our major rebrand, 2025 was a year of focus on culture, values and how we work together at ReMind UK. Alongside delivering services, research and support in a challenging environment, we invested time and attention in strengthening our organisational foundations and supporting our colleagues to thrive.

We focused on embedding our values across the organisation and building a more inclusive, ‑ united and high performing team. This work centred on creating a culture rooted in trust, openness and shared purpose, reflecting our collective commitment to supporting people affected by dementia with compassion and expertise.

Throughout the year, we made space for honest conversations about what was working well and where we needed to improve. We recognised challenges including fragmented internal processes and outdated technology, and we approached these openly and constructively. By acknowledging these issues, we were able to begin addressing them together, rather than working around them in isolation.

As we move into 2026, we remain committed to developing a learning culture where everyone has opportunities to grow, develop skills and progress in meaningful ways. Working collaboratively across roles and teams is central to how we deliver the expert, compassionate and innovative care that defines ReMind UK. By continuing to strengthen our culture and ways of working, we are better placed to support our people — and through them, the individuals and families at the heart of our mission.

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Our future plans

ReMind UK will continue to build on the progress made during 2025, with a strong focus on collaboration, sustainability and ensuring our services, research and support reach the people who need them most.

Throughout 2025, we continued to champion the development of a Dementia Strategy for Bath and North East Somerset. We were pleased that the Council recognised the importance of this work and agreed to lead the strategy’s development, with ReMind UK acting as co‑chair of the steering group. The main programme of work is scheduled for 2026, with a planned launch of the strategy in early 2027.

Engagement with this work has been overwhelmingly positive. People affected by dementia and professionals supporting them have expressed strong interest in contributing, alongside a shared belief in the value of a ‑ coherent, local and multi agency approach. We remain committed to working collaboratively to ensure the strategy is practical, achievable and underpinned by clear objectives and robust oversight, improving experiences for both those accessing services and those delivering them.

Alongside this strategic work, 2026 will be a year of growth for ReMind UK. We will embed new clinical roles made possible through additional NHS Memory Clinic investment and funding associated with the UK Dementia Trials Network. These posts will strengthen our ability to recruit to clinical trials through a wider network of dementia services and will support broader participation, ensuring our research better reflects the diversity of the communities we serve. This expansion will help ensure more people can take part in, and benefit from, research activity.

As current National Lottery Reaching Communities funding comes to an end in May 2026, a key priority will be sustaining our ‑ post diagnosis support services. We have continued to work across Bath and North East Somerset to reach communities who are often underrepresented in support services, ensuring access to interventions that offer meaningful benefit. We were therefore delighted to secure a new three‑year National Lottery grant, focused on supporting communities in areas of higher deprivation. Alongside this funding, we will continue to seek additional resources to maintain services across other areas.

Feedback from people using our services and their families remains consistently positive, reinforcing both the impact of our ‑ post diagnosis support and the importance of sustaining it over the longer term.

We will also continue to invest in strengthening our internal infrastructure. In early 2026, we will introduce a new clinical database to support our memory clinic and research activity, improving data quality, efficiency and integration across services. Alongside this, we will remain focused on building a stable, resilient and sustainable organisation, capable of delivering high‑quality care, research and support for everyone impacted by dementia.

Our focus remains on delivering expert, compassionate care and research — while building a stable, sustainable organisation for the future.

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Our commitment to our supporters

We are deeply grateful to everyone who supported ReMind UK in 2025 — from those who donated, ran the Bath Half, joined community events, shared their stories, or volunteered. Your time, energy, and generosity drive our mission to Get ahead of dementia. A heartfelt thank you also goes to our funders for their vital grants, sponsorship, and donations.

Harford Charitable Trust Joseph Matthews Trust Discworld Foundation Smith Charitable Trust John Osborn CBE

Vernon Smith Family Trust Shinfield Trust

We’re incredibly thankful to our regular givers and cash supporters, whose generous support helps fund our core work. We are especially grateful for gifts left in memory or in wills — lasting legacies that continue to make a difference.

In 2026, we will explore new fundraising opportunities to support the growth of our income and expand our impact.

Fundraising standards information

All our fundraising activities are carried out by trained and experienced staff employed directly by ReMind UK. Our Head of Engagement oversees all our fundraising activity and is accountable to our Chief Executive Officer 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 engage any third-party professional or commercial fundraisers.

ReMind UK 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. ReMind UK is a voluntary member of the Fundraising Regulator and ensures its fundraising practices align with the latest guidance.

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Legal and administrative details

As at 31 December 2025:

Company Name ReMind UK Charity Company number 02979617 Charity Number 1042559

Principal address and registered office: The ReMind UK Centre Royal United Hospitals Combe Park, Bath BA1 3NG

Patron Lady Pratchett

President Professor Roy Jones

Trustees

The following, who are also Directors of the company, serve on the Board of Trustees:

Key management personnel Melissa Hillier, Chief Executive Officer Dr Tomas Welsh, Research & Medical Director

Solicitors

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

Auditors Sumer AuditCo Limited

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Structure, governance and management

Governing document

ReMind UK Charity is a registered charity in England and Wales, and a registered company limited by guarantee. Governed by its Memorandum and Articles of Association.

The overall strategy and policy for ReMind UK is agreed by the board of trustees, advised by the Chief Executive Officer and senior leadership team.

The Trustee Board

ReMind UK’s Articles allow for a minimum of three and a maximum of twelve Trustees. By the end of 2025 there were eight Trustees appointed to the board. Trustees are appointed for a term of three years and can serve a maximum of three terms. Trustees are the members of the charity.

Trustees have 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 trusteeship as representatives of other organisations or interests. This means Trustees can act within the best interests of ReMind UK and its beneficiaries. They bring a breadth and depth of leadership experience related to our charitable objects, governance needs, lived experience and research credentials.

The board meets quarterly to review strategy, organisational performance and risk and periodically review governance arrangements to ensure that appropriate structures and mechanisms are in place as the charity evolves. Once a year, pay awards were agreed by the Trustees in the Remuneration committee in November.

Trustees delegate certain powers in connection with the charity’s management, and administration to the Finance and Audit (FAC) committee which met four times in the year. The FAC provides detailed oversight and advice to the Board of Trustees in relation to financial management, financial viability, risk management and governance. The FAC has a minimum of three Trustee members appointed from and by the Board of Trustees that includes a chair of the committee.

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Board induction and conduct Management

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 are invited to meet with the Chair and Chief Executive Officer and to observe a meeting of the board and meet Trustees as part of their recruitment process.

The board has delegated authority for day-today operational management of ReMind UK to the Chief Executive Officer. The Chief Executive Officer is assisted by the Research & Medical Director and a senior leadership team who lead on day-to-day operational decision-making. The Chair of the Board of Trustees is responsible for the appraisal and performance management of the Chief Executive Officer.

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 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.

Once appointed all Trustees receive a copy of the ReMind UK trustee handbook, which is updated regularly, and a tailored induction to ReMind UK and its operations. Trustees receive regular updates on changes and developments in charity regulation and practice throughout the year either at their meetings or via our internal bulletin.

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Financial Review

Income and expenditure

2025 was a year of significant financial progress for ReMind UK.

Our total income rose to £1,649,195 a significant increase of 29.7% on 2024. While overall income growth was strong in 2025, the organisation continues to experience some volatility around some of our income streams which can vary from year to year as they are not always predictable due to circumstances beyond our control. Some of the income received in 2025 is designated to cover costs that will be covered in future years, particularly into 2026.

Income from donations and legacies increased slightly, although the increase was modest, we view this as a positive outcome that our refreshed brand is helping to strengthen awareness and engagement. We had an increased number take part in events in 2025 and we received further funds from the Osborn Research Fund. The value of grants awarded in 2025 was slightly up on the prior year and efforts were focused on funding the future of our Post-Diagnosis Support Programme to ensure we continue this valued service.

We were fortunate to receive £48,617 in legacies during the year which was slightly lower than budgeted. We are grateful to those individuals who remember us in their will.

Our income from our charitable activities saw a significant increase on 2024. We took part in more clinical trials than before, and we were able to work alongside the ICB to secure additional funding for the NHS memory clinic to help manage the waiting list.

Total expenditure for the year was £1,346,997 an increase of 12.4% on 2024. The majority supporting our charitable work across clinical trials, memory assessment and post diagnosis support. Staffing increased due to investment of new roles within 2025 to build our research capacity.

ReMind UK reported a net surplus of £302,198 for 2025 which included monies received in 2025 to fund specific expenditure in 2026.

On 31 December 2025, total funds held were £2,370,424 of which £968,454 were held as unrestricted funds and £1,401,970 held as restricted funds. The amount of cash held also improved rising from £640,418 to £1,084,938. Although this is positive and reduces shortterm cash flow risks, it is increasingly important due to the volatile nature of ReMind UK income from clinical trials. During 2025, three of our trials were ceased by the sponsor as they failed to demonstrate the desired results in reducing the progression of dementia in patients.

Looking ahead into 2026. ReMind UK plans to continue expanding its research, clinical trials and patient support services while maintaining a strong focus on cost management. We are committed to diversifying our income and reducing reliance on any single income stream.

The charity remains committed to financial sustainability and will continue to develop strategic partnerships and fundraising activities to support long-term stability. The Board has approved a budget for 2026 with a deficit of £229,802 with an expectation that around £165,000 of this will come from restricted reserves and the balance from the unrestricted /designated reserves.

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Reserves

Our reserves policy is set to ensure that our work is protected from the risk of disruption at short notice due to a lack of funds.

Trustees manage restricted reserves in accordance with funding agreements and ensure that unrestricted reserves are reviewed annually during the budget-setting process.

At the end of 2025, ReMind UK held £1,401,970 in restricted reserves and £968,454 in unrestricted reserves. Of the unrestricted reserves, £22,061 were invested in fixed assets, and £250,000 were designated by Trustees for specific activities. This leaves approximately £696,393 in unallocated reserves, available to support the charity’s core operations.

This level of reserves represents around three months of operating costs, including potential redundancy liabilities, and offers protection against unforeseen events in 2026.

The trustees recognise the inherent volatility of income from clinical trials including the risk that trials may be delayed or end earlier than anticipated due to factors outside the charity’s control. Maintaining an appropriate level of free reserves is therefore essential for ReMind UK to absorb short-term income shock, continue services without disruption and responsibly manage a period of reduced trial income.

This year end position aligns with ReMind UK’s reserves policy, which aims to maintain a minimum of £425,000 in unrestricted reserves to safeguard continuity of services.

Total funds increased to £2,370,424, up from £2,068,226 in 2024, due to the operating surplus. Fixed assets amounted to £1,138,631, most of which relates to our purpose-built, specialist Centre. This asset is subject to annual depreciation as reported in the accounts.

Net current assets increased by £325,857,

totalling £1,229,587, comprising £283,194 in restricted funds and £946,393 in unrestricted funds. Of the unrestricted funds, £250,000 has been designated by Trustees for specific research and educational activities and protection around any potential deficit due to the high-risk nature of the clinical trials.

Going Concern

The financial statements have been prepared on a going concern basis. Cash flow forecasts have been developed covering at least 12 months from the approval date of the financial statements. These forecasts incorporate an assessment of risks that may affect the charity’s resources or operational capability. The forecasts take into consideration the challenging economic environment and its potential impact on income and expenditure. We consider it possible to offset any potential income shortfalls with a reduction in expenditure.

The NHS Memory Clinic contract has been extended, and we now expect the existing service to continue into 2027. A formal re‑tender is expected thereafter, and this has been incorporated into our forward planning and risk assessment. Should the contract not be awarded following re‑tender, the organisation has sufficient reserves to mitigate the resulting income shortfall. We are also engaging with commissioners and key stakeholders to explore alternative funding opportunities and service delivery options, thereby reducing the likelihood and potential impact of this risk.

We monitor performance, cashflow, and forecasts on a regular basis and manage our finances according to the analysis of this position. The Trustees have therefore concluded there is a reasonable expectation that the Charity has adequate resources to continue in operation for the foreseeable future. The Charity therefore continues to adopt the going concern basis in preparing its financial statements.

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Managing Risks

ReMind UK operates in an increasingly complex and challenging environment and managing risks effectively is integral to the achievement of our mission. The trustees are ultimately responsible for the risk management of ReMind UK and its effectiveness. We maintain an active risk management process to identify, assess and manage the principal risks facing the charity.

The senior leadership team reviews and identifies risks to the charity on a regular basis and ensure that internal control measures are in place and adequate which is then reported back to the Board of Trustees. To enable this, ReMind UK has an internal risk management policy, and a risk register which reviews risks by their likelihood and severity, identifies controls and actions to manage them appropriately and allocates a risk owner who is responsible for ensuring the internal controls are in place and appropriate actions are taken. Trustees review key risks on a quarterly basis or more often if circumstances require, with the finance and audit committee (FAC) undertaking detailed scrutiny of risks quarterly on behalf of the Board.

Principal risks and uncertainties

During 2025 measures were prioritised to mitigate those risks scored as high which could affect the charity’s ability to deliver its mission, along with the steps to mitigate them:

1) Fall in income from Clinical Trials and NHS Memory Service

Risk: A significant proportion of ReMind UK’s income is derived from clinical trials and the provision of NHS contracts. A fall in demand, delay in approvals, or withdrawal of clinical trials by sponsors due to factors outside our control could materially impact income. In particular, the NHS memory clinic contract is expected to continue into 2027. It is expected to go to tender thereafter, which presents a risk if not successfully retained.

Mitigation: The charity continues to strengthen relationships with research institutions, academic partners and commercial sponsors to secure a diverse and sustainable pipeline of clinical trials. We actively pursue new opportunities to secure research funding. To mitigate the impact of trial withdrawal, we ensure that our portfolio includes a balance of trials at various stages and reduce reliance on any single sponsor. Strategic investment into research capacity ensures that ReMind UK remains a competitive and attractive site for sponsors. In addition, the trustees ensure we have adequate reserves which would allow us time to flex activity and reduce costs if there are unexpected reductions in trial income.

2) Poor Fundraising Performance

Risk: decline in voluntary income from donations, grants, or fundraising campaigns could reduce the charity’s ability to support its programmes and invest in growth.

Mitigation: ReMind UK is actively diversifying its income streams and strengthening donor engagement, including cultivating major donors and enhancing digital fundraising. The team is also investing in building long-term funding partnerships and improving fundraising capacity across the organisation.

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3) Use of Reserves

Risk: There is a risk that ReMind UK may need to draw on unrestricted reserves to meet operational costs or respond to unforeseen circumstances, potentially limiting future flexibility.

Mitigation: The Trustees closely monitor financial performance against budget and maintain robust financial planning processes, including stress-testing income assumptions. The reserves policy is reviewed annually to ensure that sufficient funds are held to cover core operational costs and key liabilities. As of the end of 2025, the level of free reserves remains healthy and within policy guidelines.

4) Loss of key personnel

Risk: As ReMind UK has a small team of staff, the loss of personnel presents a risk especially for those staff with specialist knowledge and relationships. This could disrupt service delivery and create gaps in operational capacity.

Mitigation: ReMind UK mitigates this risk through training and clear documentation of key processes and shares knowledge across teams to reduce reliance on individuals. Succession planning is supported where feasible alongside a focus on staff wellbeing and development. With these mitigations in place, the Trustees are satisfied that ReMind UK is well positioned to manage its principal risks.

Public benefit

Trustees have paid due regard to the Charity Commission’s guidance on public benefit. The Trustees are confident that ReMind UK’s purpose and objectives are in accordance with the regulations on public benefit.

Trustees’ Responsibilities

ReMind UK is governed by a Board of Trustees who elect a Chair from amongst themselves. The board is collectively responsible for governance of ReMind UK 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 is a Remuneration Committee which usually meets once a year and is chaired by the Chair of the board. All Trustees are involved in the committee which agrees any pay awards due and any changes to agreed pay and pension structures. There is also a Finance and Audit Committee which meets four times a year to ensure trustees have detailed oversight of ReMind UK’s financial management, financial viability, risk management and governance. Trustees also hold an annual strategic day which provides an opportunity for Trustees and the whole team at ReMind UK to review progress against the strategy and discuss future plans and activities.

Remuneration Policy

In setting appropriate pay levels ReMind UK aims to make sure that we pay enough to recruit and retain people with the relevant skills to deliver our charitable objectives. Pay is reviewed annually and takes into consideration affordability, economic trends, and the external pay environment.

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Trustees’ responsibilities in relation to the financial statements

They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

The Trustees (who are also the directors of ReMind UK Charity for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the Trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charity SORP;

• make judgements and estimates that are reasonable and prudent;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

• there is no relevant audit information of which the charitable company's auditors are unaware; and

• the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

Auditors

Sumer AuditCo Limited have acted as the Company’s auditors during the year and on behalf of the Board of Trustees.

This report was approved by the trustees and signed on their behalf by

Dr Mark Kingston, Chair of the Board of Trustees

Dated: 03/06/2026

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006.

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Report of the Independent Auditors to the Members of ReMind UK

Opinion

We have audited the financial statements of ReMind UK Charity (the 'charitable company') for the year ended 31 December 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the 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 (United Kingdom Generally Accepted Accounting Practice).

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 other 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 opinion.

Conclusions relating to going concern

In our opinion the financial statements:

• give a true and fair view of the state of the charitable company's affairs as at 31 December 2025 and of its incoming resources and application of resources, including its result, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

In auditing the financial statements, we have concluded that the Trustees' 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 Trustees with respect to going concern are described in the relevant sections of this report.

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 Auditors' responsibilities for the audit of the financial statements section of our 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 Report of the Independent Auditors thereon.

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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 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 this gives rise to a material misstatement in the financial statements themselves. 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.

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 Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

• adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or

• the financial statements are not in agreement with the accounting records and returns; or

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

• the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• certain disclosures of Trustees' remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit; or

• the Trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.

• the Report of the Trustees has been prepared in accordance with applicable legal requirements.

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Responsibilities of Trustees

As explained more fully in the Statement of Trustees' Responsibilities, the Trustees (who are also the directors of the charitable company for the purposes of company law) 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.

Our 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 a Report of the Independent Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the charity and the provision of research and support services, we identified that the principal risks of noncompliance with laws and regulations related to safeguarding, health and safety, employment law, Companies Act 2006 and Charity Law, and we considered the extent to which noncompliance might have a material effect on the financial statements of the charity. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and the Charities Statement of Recommended Practice.

We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to revenue recognition, management override, and potential lack of segregation of duties. Audit procedures performed by the audit engagement team included:

• discussions with management and Trustees, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud;

• understanding and review of management's internal controls designed to prevent and detect irregularities, and fraud;

• review of the minutes of the Trustees meetings;

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review of tax compliance;

• designing audit procedures to incorporate unpredictability;

• performing analytical procedures to identify any unusual or unexpected relationships that might indicate risks of material misstatement due to fraud;

• review of the financial statements disclosures and testing to supporting documentation to assess compliance with relevant laws and regulations discussed above;

• enquiring of management about actual and potential litigation and claims;

• testing transactions entered into outside of the normal course of the charity's business; and

• identifying and testing journal entries, in particular any journal entries with fraud characteristics such as journals with round numbers.

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 those matters we are required to state to them in an auditors' 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 and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

James Gare FCA DChA (Senior Statutory Auditor)

for and on behalf of Sumer Audit Co.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and the transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

Statutory Auditors

County Gate County Way Trowbridge BA14 7FJ

Date: 4 June 2026

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

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Statement of financial activities

(incorporating the income and expenditure account) for the year ended 31 December 2025

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Balance sheet

at 31 December 2025

The Financial Statements and notes set out on pages 40 to 52 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 21st May 2026 and were signed on behalf of the Trustees by:

Dr Mark Kingston, Chair of the Board of Trustees Company registered number: 02979617

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Cash flow statement

for the year ended 31 December 2025

Analysis of changes in Net debt

for the year ended 31 December 2025

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Accounting Policies

for the year ended 31 December 2025

ReMind UK Charity is a company limited by guarantee (02979617) and registered as a charity in England & Wales (1042559). ReMind UK’s registered address is: The ReMind Centre, Royal United Hospital, Combe Park, Bath, BA1 3NG. ReMind UK’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

In making this assessment, the Trustees have considered a period of at least one year from the date of approving the financial statements. The current Memory Clinic contract runs until March 2026 and is expected to go to tender thereafter, which has been factored into our forward planning and risk assessment. If the contract is not awarded, we have sufficient reserves to cover this income shortfall.

There are no key judgements that the charitable company has made which have a significant effect on the accounts. The Trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material misstatement.

c) Income

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. The financial statements of the charitable company, which is a public benefit under FRS102, are prepared on a going concern basis under the historical cost convention. There are no significant areas of judgements or key sources of estimation uncertainty.

All income is recognised in the Statement of Financial Activities once the charitable company has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation, and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

b) Going concern

The Trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern.

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For legacies, entitlement is taken as the earlier of:

a. the date on which the charity is aware that probate has been granted;

b. the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made; or

c. when a distribution is received from the estate

Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor(s) intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material

Grants and fees for contracts and agreements are recognised in full in the SOFA in the year in which they are receivable when donors specify that donations or grants are for a restricted purpose, this income is included in restricted funds when receivable

Income from clinical trials is recognised based on the date of the patient visit and has been accrued where appropriate into the SOFA to reflect this Income which was received in 2024 but relates to 2025 has been deferred or included in funds for 2024 as appropriate

Investment income is accounted for in the period in which the charity is entitled to receipt

The value of services provided by volunteers has not been included

Income from donated Royalties is received yearly and included when the charity is advised that a payment will be made and is entitled to it, and the amount can be measured reliably.

d) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity, this is normally upon notification of the interest paid or payable by the bank.

e) Expenditure and irrecoverable VAT

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charitable company to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Expenditure includes Irrecoverable VAT.

f) Operating leases

Rent payable under operating leases are charged to the SOFA as incurred over the term of the lease.

g) Fixed assets, depreciation and amortisation

Fixed assets are capitalised when their value is over £1,000. They’re initially recorded at cost. Depreciation and amortisation is calculated to write down the cost of fixed assets over their expected useful lives, on the following basis:

Leasehold land and buildings – 2%-2.5% straight line

Research equipment – 25% straight line Office equipment – 25% straight line Website – 25% straight line Trademark – 10% straight line

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h) Pension costs

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company’s pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

i) Fund accounting

Funds held by the charity are:

Unrestricted general funds – these are funds which can be used in accordance with the charitable purposes at the discretion of the Trustees

Designated funds – these are a portion of the unrestricted funds that have been set aside for a particular purpose by the Trustees

Restricted funds – these are funds that can only be used for restricted purposes within the purposes of the charity. Restrictions arise when specified by the donor or funder or when funds are secured for restricted purposes

A further explanation of the nature and purpose of each fund is included in the Notes to the Financial Statements (see note 14).

k) Debtors

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

l) Cash at bank and cash in hand

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

m) Creditors and provisions

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

n) Corporation tax

The charitable company is exempt from corporation tax on its charitable activities.

j) Financial instruments

The charity has minimal exposure to customer credit risk, liquidity risk and market risk. Please refer to the risk section of the Trustees' annual report for information on how risks are managed. The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. The charity does not have any non basic financial instruments.

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Notes to the Financial statements

for the year ended 31 December 2025

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Notes to the Financial Statements

for the year ended 31 December 2025

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for the year ended 31 December 2025

Notes to the Financial Statements

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Notes to the Financial Statements

for the year ended 31 December 2025

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Notes to the Financial Statements

for the year ended 31 December 2025

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Notes to the Financial Statements

for the year ended 31 December 2025

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Notes to the Financial Statements

for the year ended 31 December 2025

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Notes to the Financial Statements

for the year ended 31 December 2025

Restricted revenue funds 2025

Restricted capital funds

The Discworld Foundation

Year one of a multi-year grant to fund the development and expansion of the research programme

The ReMind UK Centre – building

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

ECG Machine

Support courses – various

Funds from the McClay Dementia Trust and St Monica’s Trust to support patients and carers through the provision of Living with Dementia, Carers, and Chat, Make and Move courses

Osborn Research Fund

Funds from John Osborn CBE to expand ReMind UK’s research capacity.

St Johns Foundation

Funds from St Johns Foundation to develop and deliver a Healthy brain clinic for the population of Bath & North East Somerset.

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

Infusion Pump

Funds from a generous donor to purchase an infusion pump for Clinical Trials

Defibrillator

Funds from The Ray Harris Charitable Trust to fund the cost of a new emergency defibrillator at the ReMind UK Centre

Other funds

Big Lottery – post-diagnosis support To fund the development of post-diagnosis support to patients and carer

Unrestricted funds

Funds available for general use

Designated funds

South West Central Regional Research Delivery Network

Funds set aside by Trustees to fund specific research and education activity

Funds to support and Community based research nurse for 10 months.

NHS Bath and North East Somerset, Swindon and Wiltshire ICB

Funds for additional capacity to reduce the waiting times for the Memory Clinic

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Restricted revenue funds 2024

Medlock Charitable Trust

To fund the PhD Fellow post, Grant Writer post and development of a Dementia Masterclass Conference

Restricted capital funds 2024

The RICE Centre – building

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

ECG Machine

The Discworld Foundation

Split over three years, starting in 2022, to fund the development and expansion of the research programme

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

Resus Trolley

Research Capability Funding

Funds from Royal United Hospital to fund research grant writer staff costs

Digitalisation – various

Funds from Annett and Ray Harris Charitable Trusts to fund the digitalisation of internal procedures

Support courses – various

Funds from the McClay Dementia Trust, Bath Boules and St Monica’s Trust to support patients and carers through the provision of Living with Dementia, Carers, and Chat, Make and Move courses

Osborn Research Fund

Funds from John Osborn CBE to expand ReMind UK’s research capacity.

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 of a new emergency defibrillator at the RICE Centre

Other funds

Unrestricted funds

Funds available for general use of which further funds were designated for specific purposes in February 2024

Designated funds

Funds set aside by Trustees in 2021 to fund specific research and education activity

St Johns Foundation

Funds from St Johns Foundation to develop and deliver a Brain Health Clinic for the population of Bath & North East Somerset.

Big Lottery – post-diagnosis support

To fund the development of post-diagnosis support to patients and carer

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Notes to the Financial Statements

for the year ended 31 December 2025

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Notes to the Financial Statements

for the year ended 31 December 2025

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Notes to the Financial Statements

for the year ended 31 December 2025

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Statement of financial activities

(incorporating the income and expenditure account) for the year ended 31 December 2024

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