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2022-03-31-accounts

Charity registration number 1045517

Company registration number 02980817 (England and Wales)

DEMENTIA MATTERS

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

DEMENTIA MATTERS

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees L J Ali, Vice Chair
D Lovenbury
L R Joyce, Chair
A F Fairbairn (Appointed 25 May 2021)
J Scott (Appointed 29 June 2021)
Charity number 1045517
Company number 02980817
Registered office The Bradbury Centre
Darrell Street
Brunswick Village
Newcastle upon Tyne
NE13 7DS
Auditor RMT Accountants & Business Advisors Ltd
Gosforth Park Avenue
Newcastle upon Tyne
NE12 8EG
Bankers Barclays Bank PLC
Leicester
Leicestershire
LE87 2BB
Solicitors Ward Hadaway
Sandgate House
102 Quayside
Newcastle upon Tyne
NE1 3DX

DEMENTIA MATTERS

CONTENTS

Page
Chairman's Statement 1 - 2
Trustees' report 3 - 8
Independent auditor's report 9 - 11
Statement of financial activities 12 - 13
Balance sheet 14
Statement of cash flows 15
Notes to the financial statements 16 - 30

DEMENTIA MATTERS

CHAIRMAN'S STATEMENT

FOR THE YEAR ENDED 31 MARCH 2022

Our priority and the purpose for which we exist remains helping people living with dementia (and similar conditions), their families and carers.

I wish to firstly acknowledge and remember our client and dear friend, Dr Jo Wilson who sadly died earlier this year. The Charity alongside was extremely proud and privileged to be able to care for Jo in her final days. We were also very saddened about the desperate struggle Bill had and many other families have trying to get access to care and support for a loved one living with dementia. We are committed to ensuring Jo’s legacy lives on and will continue to work with Bill to ensure greater awareness and responsiveness for those whose lives are affected by this cruel and awful disease we call dementia.

2021/22 unfortunately remained overshadowed in many ways by the pandemic, the laws and regulations governing nursing homes to reduce the risks associated with these conditions and the impact this had on relatives and staff. I cannot do better than to quote from our earlier report;

“First and foremost, this has been the second year of the pandemic causing immense problems and distress to older people. Our priority and the purpose for which we exist is to help people with dementia (and similar conditions) and their relatives. The Board is very aware of the pain and the distress that has been caused to relatives and to our clients. The loss of a day service or a home treatment package which is so vital in helping friends and relatives to ensure a decent quality of life for a loved one, can be overwhelming. The times when our residential service has gone into lock down and relatives have not been able to visit is very upsetting.

The Board would like to express our deepest sympathies to all who were not able to receive the service they needed”

Year of financial survival

21/22 was for the Board and CEO the year of financial survival. The charity continued to suffer very severely financially from the effects of the pandemic with the numbers of day service clients reducing by more than half. The Charity has survived by using the Government’s loan scheme and by additional borrowing. This was essential but will leave a legacy to be redeemed over time in the financial years 22/23 and 23/24

Our CEO Bev had to work incredibly hard to ensure efficiencies that did not impact on front line services or compromise the quality of care provided.

That we have survived and can see a way our books can once again balance with a prudent reserve in the financial year 23/24 is a real tribute to the whole organization.

I would personally, like to thank each and every one of our current and past colleagues, trustees, supporters and advisors who have helped the Charity during Covid and the changes to Board of Trustees and the Executive Team. Without your support, dedication, and leadership the Charity would not be where is today.

The continued underfunding and growing demand have resulted in unprecedented challenges for commissioners and providers alike. During the year we were hopeful that the Government would come forward with a plan to solve the problems of social care. Whilst they have identified huge extra financing this will go first to the NHS and it would be bold to assume sufficient funding will be distributed into social care, yet the NHS backlog is unlikely to be adequately resolved without tackling the pressures facing adult social care at the same time.

Alongside the necessary reforms and funding, much is yet to be done to improve the challenges associated with the care workforce regrading pay, training and development.

The social care system continues to be significantly reliant on the contribution of unpaid carers providing vital support and the pandemic has highlighted this even more so and we will seek to increase our role in providing much needed relief and support via our day services and respite care and also directly to carers and their families.

We have made good steady progress via our CEO in developing relationships with other providers across the health and care sector locally and we see this as a priority going forward. The current restructuring of the NHS creates opportunities to play a greater role in the local place based planning and provision alongside our partners in the statutory and non statutory sectors.

DEMENTIA MATTERS

CHAIRMAN'S STATEMENT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Our Priorities

Thanks to

  1. Our service users who make our work so rewarding

  2. The friends and relatives of our service users who have chosen to use our services

  3. Our volunteers — who make such a difference to the quality of services we offer

  4. Our Charitable Funders

  5. Newcastle City Council, North Tyneside Council, Northumberland County Council and the associated CCGs who have contracted with us

  6. Primary Care and other agencies who refer service users to us

  7. Newcastle University and in particular Prof Louise Robinson who continues to work on issues close to our heart

  8. Our staff

  9. Our managers

  10. Our CEO Bev Reid

  11. The trustees who give so freely of their time

Lionel Joyce Chairman

Date: 31 March 2023

DEMENTIA MATTERS

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2022

The trustees present their annual report and financial statements for the year ended 31 March 2022.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's [governing document], the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

The charitable objects are:

In order to achieve the objectives, the charity provides home care, supported living, residential care, respite care, day services and advice and support for people with dementia and their families currently in Newcastle upon Tyne, North Tyneside and Northumberland.

Public benefit

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit.

The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Achievements and performance

The achievements and performance are detailed within the Chair's report on page 2.

Fundraising disclosures

The charity is required to report how it deals with fundraising from the public. The charity does not use a professional fundraiser or commercial participator to raise funds. Any monies raised direct from the public follows all guidelines set out by the Charity Commission and UK law in every respect. We respect the privacy and contact preferences of all public donors.

Financial review

Financial and risk management objectives and policies

As a registered charity, the financial objectives of Dementia Matters are:

Financial Risk Management Policy

Internal financial controls are regularly reviewed in line with guidelines set by the Charity Commission. This is the responsibility of the Finance and Audit Committee which meets monthly and reports directly to the Trustees.

DEMENTIA MATTERS

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Going concern

In reviewing the financial statement for YE 31st March 22, there has been a significant improvement in the charity’s current asset position which has improved from £76,064 to £160,641 which is more than a twofold increase year on year.

In line with the above, Cash at Bank at 31 March 2022 was £316,833, having increased from £252,851 in the prior year, due to the drawdown in March 2022 of a £300,000 loan. This loan provides significant additional financial liquidity support for any potential income and costs impacts in the year ahead, as the charity continues to battle past post Covid-19 impacts in the sectors the charity operates.

The charity's performance over the past couple of years has reduced the Net Assets as it continues to fund, support and deliver exceptional levels of care and support to service users and their loved ones without compromising the quality of care.

Within the Statement of Financial Activities, the charity reports a deficit of £285,145 for the year to 31 March 2022, which is a small but nevertheless a steady improvement from the 2021 deficit of £306,224. Given the extenuating circumstances the charity has faced against Covid-19 and the ever-reducing funding envelope for the care services provided, the board of trustee are satisfied that the recovery and stabilisation plans developed by the Executive Leadership are well advanced.

The CEO and her Team have been continuing to work on repositioning the charity's service offering, in order to ensure that future surpluses are achieved. Capacity was increased in the residential unit when two additional beds were opened in Q4, 22/23 and a remodelling exercise has also been carried out on the Charity’s costs resulting in a number of actions including increasing charges for residential and respite services.

Significant work has been underway reviewing all commercial contracts and assessing value for money. This has resulted in cost reductions, improved service provision and services no longer required being stopped. The charity reviewed all energy costs pre the turbulent energy market increases and is in a fortunate position of having escaped the catastrophic impact experienced by many since then.

The CEO has made significant progress in developing strategic partnerships which are resulting in positive and productive outcomes including funding of £60,000 (to be awarded in Q1 23/24) to establish a specialist Dementia Nurse role. An experienced fundraising manager was also appointed during 2022 to ensure opportunities for grant funding are maximised and remains in post.

The CBILs loan has continued to be paid and some of the principal loan will be repaid early in 23/24 thereby reducing the monthly repayments going forwards. It is the organisations intention to repay the £300,000 loan taken out in 2021/22 in the early part of Q1 2023/2024 and discussions are currently underway with the lender on settlement figures. The charity is now well positioned for the long term with some exciting new partnerships, initiatives, and developments well underway.

The trustees have conducted an in-depth review of the current and forecasted standing of the charity’s financial position as well any sensitivities to potential systematic risk as experienced during the Covid-19 pandemic for the 12 months ahead. In these reviews the P&L forecasts demonstrate that the charity's repositioned service offering should return the charity back to breakeven, with potential for surplus within the next 12 months to 31st March 24. This combined with the cash forecasts with excess cash surplus due to some significant new initiatives give the trustees confidence that the charity will continue as a going concern for at least the next 12 months from the date of executing these financial statements.

Investment policy and objectives

The charity invests surplus funds in interest-bearing accounts with major UK banks and building societies to minimise risk. During the year funds were held with Barclays, Bank of Scotland and Nationwide Building Society. The funds held in the year returned on average less than 1% APR, reflecting the prudent investment policy and continued low UK interest rates. The investment policy is under continual review.

DEMENTIA MATTERS

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Policy on reserves

The calculation of free reserves is based on the definition included in the charity statement of recommended practice (SORP), which provides recommendations for accounting and reporting for charities. The trustees have examined the requirements of the charity to hold free reserves - those reserves not invested in tangible fixed assets, excluding long term liabilities, or designated for a particular purpose. The Trustees considered it would be appropriate to hold the equivalent of three months which would equate to holding approximately £400,000 to £500,000 in free reserves.

At the year end the charity had no free reserves, as in the prior year. The trustees have recognised another poor result this year and are looking at ways to improve this position.

Major risks and management of those risks

The Trustees understand the importance of assessing major risks to which Dementia Matters is exposed. There are appropriate systems, controls and procedures in place to minimise and mitigate those risks.

The following major risks to which Dementia Matters is exposed are reviewed monthly by the SMT and annually as part of a review of risk processes and policies:

Dementia Matters has reviewed its organisational risk management and assessment policies and procedures. The Head of Health & Safety and Risk Management is responsible for this process, supported by the senior management team and the Trustees.

Principle risks and uncertainties

Dementia Matters operates within a highly regulated environment, with the majority of its income derived from the provision of services commissioned by a small number of public sector funders. As such, the principle risks and uncertainties faced by Dementia Matters are:

Objectives and policies

The charity's activities expose it to a number of financial risks including cash flow risk, credit risk and liquidity risk. The use of financial derivatives is governed by the charity's policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.

DEMENTIA MATTERS

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Cash flow risk

Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows.

Credit risk

The charity's principal financial assets are bank balances and cash, trade and other receivables, and investments.

The charity's credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.

The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies.

The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.

Liquidity risk

In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-term and short-term debt finance.Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements.

Plans for future periods

Aims and key objectives for future periods

There is no question that the ongoing impact of a pandemic and all that it entailed had a devastating impact on Dementia Matters. We have continued to deliver our services throughout, consistently putting our users and carers first whilst ensuring the safety and wellbeing of our staff. Our focus now remains heavily on the recovery and stability of Dementia Matters and ensuring its future viability. The need for us to have a robust strategic plan (including Fundraising & Income Generation) in order to achieve this, is essential.

Demand for our services will continue to increase and there continues to be significant unmet need particularly around support for carers and crisis management. As a collaborative organisation we will continue to identify opportunities which are conducive to supporting positive working relationships with organisations whose aims also align with those of Dementia Matters.

Our priorities for the months ahead include;

We hope to preserve our organisation’s journey, meaningful work and impact the legacy challenges we inherited. We remain pragmatic about the external income landscape and the pressures funders are under to support current grantees therefore whilst we remain optimistic, we realise there is a chance we may not be successful in all of our approaches.

Structure, governance and management

Nature of governing document

Dementia Matters is a registered charity and a company Limited by Guarantee and governed by its Memorandum and Articles of Association dated 18 July 2012. The charitable company is managed by Trustees with expertise relevant to the requirements of the charity. The Trustees meet bi-monthly to monitor performance, agree resource allocation, identify and agree solutions to problems and respond to any opportunities that arise. The Chief Executive meets regularly with the Chair of Trustees to discuss performance.

DEMENTIA MATTERS

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

L J Ali, Vice Chair P J Bell (Resigned 13 December 2022) R Dougal (Resigned 21 September 2021) M Donnan (Resigned 16 December 2022) D Lovenbury K M Porter (Resigned 14 June 2021) L R Joyce, Chair A F Fairbairn (Appointed 25 May 2021) J Scott (Appointed 29 June 2021) R Ward (Resigned 12 July 2021)

Recruitment and appointment of trustees

The election of Trustees and the membership is governed by the Articles of Association of the charitable company. All our members are currently Trustees and new members are appointed by Trustee approval only. Potential Trustees are invited to attend up to three meetings as a way to get to know the charitable company before formal induction takes place. The Trustees bring with them expertise in healthcare, law, marketing, administration, general management, finance, social care or were carers or family members of people with dementia.

A skills review of the Board is currently underway and will inform the organisations of any deficiencies regarding the makeup of the Board moving forwards.

Organisational structure

The Trustees have the ultimate responsibility for establishing the strategic direction and corporate objectives of the charitable company with responsibility for day-to-day management and delivery of the corporate objectives delegated to the Chief Executive. The Chief Executive is assisted by a senior management team consisting of the Head of Services, Head of Finance, Head of HR & Training and Head of Quality. The Chief Executive meets with the Chair of Trustees regularly.

Committees of Trustees are Finance and Audit, Care and Colleagues, and Risk. An appropriate Trustee has been assigned as Chair of each Committee.

Relationships with related parties

Dementia Matters is a specialist provider of care for people with dementia and other degenerative neurological disorders. Services are commissioned by Adult Social Services departments within local councils and the local NHS CCGs. The charity enjoys good relationships with other local and national partners and with the Department of Health. In order to deliver on our objectives over the coming years, further relationships will be delivered with:

Key Management Personnel

The board, who give their time freely and no trustees received remuneration in the year, have considered who the Key Management Personnel (KMP) of the charity, as noted in the Reference and Administration section. Together with the board, these KMP are those in charge of directing and controlling, running and operating the activities of the charity on a day to day basis. The pay of the KMP is reviewed annually and normally increased in accordance with average earnings. The trustees benchmark against pay levels of other charities and similar organisations within the sector and the region. Pay levels are set using this information together with the budget and forecast information, ensuring that the charity can afford any proposed increases. The board then agree any uplift to remuneration.

DEMENTIA MATTERS

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Statement of trustees' responsibilities

The trustees, who are also the directors of Dementia Matters for the purpose of company law, are responsible for preparing the Trustees' Report 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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

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

Auditor

In accordance with the company's articles, a resolution proposing that RMT Accountants & Business Advisors Ltd be reappointed as auditor of the company will be put at a General Meeting.

Disclosure of information to auditor

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The trustees' report was approved by the Board of Trustees.

L J Ali, Vice Chair L R Joyce, Chair Trustee Trustee 31 March 2023

DEMENTIA MATTERS

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF DEMENTIA MATTERS

Opinion

We have audited the financial statements of Dementia Matters (the ‘charity’) for the year ended 31 March 2022 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 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 charity 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 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 charity’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.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. 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. 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 course of 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.

Opinions on other matters prescribed by the Companies Act 2006

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

DEMENTIA MATTERS

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF DEMENTIA MATTERS

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the trustees' report.

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

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose 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 charity’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.

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

DEMENTIA MATTERS

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF DEMENTIA MATTERS

Capability of the audit in detecting irregularities, including fraud

Based on our understanding of the charitable company and the sector in which it operates, we identified that the following laws and regulations are significant to the entity:

These matters were discussed amongst the engagement team at the planning stage and the team remained alert throughout the audit.

Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and noncompliance with laws and regulations) comprised of: inquiries of management and the Trustees as to whether the entity complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims; inspection of relevant legal correspondence and legal costs incurred; review of Trustee meeting minutes; testing the appropriateness of journal entries; and the performance of analytical review to identify unexpected movements in account balances which may be indicative of fraud.

No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity's controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// 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 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 and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Mr Stephen Slater (Senior Statutory Auditor) for and on behalf of RMT Accountants & Business Advisors Ltd Statutory Auditor Gosforth Park Avenue Newcastle upon Tyne NE12 8EG

Date: 31 March 2023

DEMENTIA MATTERS

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2022

Current financial year

Unrestricted
Restricted
funds
funds
2022
2022
Notes
£
£
Income from:
Donations and legacies
3
196,068
66,674
Charitable activities
4
886,239
-
Total income
1,082,307
66,674
Expenditure on:
Raising funds
5
1,263
-
Charitable activities
6
1,246,139
128,047
Other
8
58,677
-
Total expenditure
1,306,079
128,047
Net expenditure for the year/
Net movement in funds
(223,772)
(61,373)
Fund balances at 1 April 2021
2,006,391
78,563
Fund balances at 31 March 2022
1,782,619
17,190		 Total
2022
£
262,742
886,239
1,148,981
1,263
1,374,186
58,677
1,434,126
(285,145)
2,084,954
1,799,809		 Total
2021
£
169,292
995,513
1,164,805
1,404
1,469,625
-
1,471,029
(306,224)
2,391,178
2,084,954

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

DEMENTIA MATTERS

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2022

Prior financial year

Unrestricted
Restricted
funds
funds
2021
2021
Notes
£
£
Income from:
Donations and legacies
3
169,292
-
Charitable activities
4
968,013
27,500
Total income
1,137,305
27,500
Expenditure on:
Raising funds
5
1,404
-
Charitable activities
6
1,442,125
27,500
Total expenditure
1,443,529
27,500
Net expenditure for the year/
Net movement in funds
(306,224)
-
Fund balances at 1 April 2020
2,312,615
78,563
Fund balances at 31 March 2021
2,006,391
78,563		 Total
2021
£
169,292
995,513
1,164,805
1,404
1,469,625
1,471,029
(306,224)
2,391,178
2,084,954

DEMENTIA MATTERS

BALANCE SHEET

AS AT 31 MARCH 2022

Notes
Fixed assets
Tangible assets
11
Current assets
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within
one year
14
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
15
Net assets
Income funds
Restricted funds
19
Unrestricted funds		 2022
£
£
2,142,798
198,005
316,833
514,838
(354,197)
160,641
2,303,439
(503,630)
1,799,809
17,190
1,782,619
1,799,809		 2021
£
£
2,203,223
99,455
252,851
352,306
(276,242)
76,064
2,279,287
(194,333)
2,084,954
78,563
2,006,391
2,084,954

The financial statements were approved by the Trustees on 31 March 2023

L R Joyce, Chair Trustee

Company registration number 02980817

DEMENTIA MATTERS

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022

Notes
Cash flows from operating activities
Cash absorbed by operations
23
Investing activities
Purchase of tangible fixed assets
Net cash used in investing activities
Financing activities
Repayment of bank loans
Net cash generated from financing
activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2022
£
£
(252,933)
(10,715)
(10,715)
327,630
327,630
63,982
252,851
316,833		 2021
£
(8,140)
220,000		 £
(77,635)
(8,140)
220,000
134,225
118,626
252,851

DEMENTIA MATTERS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

Charity information

Dementia Matters is a private company limited by guarantee incorporated in England and Wales. The registered office is The Bradbury Centre, Darrell Street, Brunswick Village, Newcastle upon Tyne, NE13 7DS.

1.1 Accounting convention

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

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

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

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. This includes taking into account the potential impact of COVID-19 to ensure that cashflow is positively managed and the impact to the charity’s operations are mitigated. The Board has concluded that the going concern assumption is appropriate in preparing these financial statements.

1.3 Charitable funds

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

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

1.4 Income

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

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

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Revenue grants and contributions received and receivable in respect of specific project expenditure are credited to deferred income and recognised in the income and expenditure account in the same period as the related expenditure.

The funding is received in accordance with the provisions and conditions as specified in the offer letters which regulate the way in which such funds may be spent.

DEMENTIA MATTERS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

(Continued)

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Cost of raising funds are incurred in attracting voluntary income.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

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

1.6 Tangible fixed assets

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

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

Freehold land and buildings 2% straight line Furniture and equipment 25% straight line Motor vehicles 25% straight line

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

1.7 Impairment of fixed assets

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

1.8 Cash and cash equivalents

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

DEMENTIA MATTERS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

1 Accounting policies

(Continued)

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

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

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

1.11 Retirement benefits

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

1.12 Legal status of the charity

The company is limited by guarantee and has no share capital. Each of the trustees is liable to contribute an amount not exceeding £10 towards the assets of the charity in the event of liquidation.

DEMENTIA MATTERS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Determining residual values and useful economic lives of tangible fixed assets

The company depreciates tangible fixed assets over their estimated useful lives. The estimation of the useful lives of assets is based on historic performance as well as expectations about future use and therefore requires estimates and assumptions to be applied by management. The actual lives of these assets can vary depending on a variety of factors, including technological innovation, product life cycles and maintenance programmes.

Judgement is applied by trustees when determining the residual values for tangible fixed assets. When determining the residual value trustees aim to assess the amount that the ccharity would currently obtain for the disposal of the asset, if it were already of the condition expected at the end of its useful economic life. Where possible this is done with reference to external market prices. The carrying amount of tangible fixed assets at the reporting end date was £2,142,798 (2021 - £2,203,223).

3 Donations and legacies

Unrestricted
Restricted
funds
funds
2022
2022
£
£
Donations and gifts
128,076
-
Grants
67,992
66,674
196,068
66,674
Grants receivable for core activities
Coronavirus Job Retention Scheme
9,558
-
Grants from other charities
58,434
66,674
67,992
66,674		 Total Unrestricted
funds
2022
2021
£
£
128,076
29,271
134,666
140,021
262,742
169,292
9,558
140,021
125,108
-
134,666
140,021		 Total Unrestricted
funds
2022
2021
£
£
128,076
29,271
134,666
140,021
262,742
169,292
9,558
140,021
125,108
-
134,666
140,021
169,292
140,021
-
140,021

DEMENTIA MATTERS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

4 Charitable activities

Home Support
Day Centres
Residential Respite Care
Other income
Analysis by fund
Unrestricted funds
Restricted funds		 2022
£
326,660
321,085
217,140
21,354
886,239
886,239
-		 2021
£
359,741
211,957
255,082
168,733
995,513
968,013
27,500

Activity levels remained same as previous year despite the reduction in income - this was a result of commissioners reconciling overpayments for other contracted services with the charity.

5 Raising funds

**Unrestricted ** Unrestricted
funds funds
2022 2021
£ £
Fundraising and publicity
Advertising 1,263 1,404
1,263 1,404

DEMENTIA MATTERS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2022

6 Charitable activities

Staff costs
Relief of persons with Dementia
Share of support costs (see note 7)
Share of governance costs (see note 7)
Analysis by fund
Unrestricted funds
Restricted funds		 2022
£
549,905
83,198
633,103
734,483
6,600
1,374,186
1,246,139
128,047
1,374,186		 2021
£
1,083,990
35,976
1,119,966
342,519
7,140
1,469,625
1,442,125
27,500
1,469,625

DEMENTIA MATTERS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

7 Support costs

Staff costs
Depreciation
Staff travel
Premises costs
Light and heat
Insurance
Communications and IT
Printing postage and
stationary
Repairs and renewals
Recruitment fees
Legal and professional
Other costs
Audit fees
Analysed between
Charitable activities		 Support
costs
Governance
costs
£
£
300,825
-
71,140
-
8,308
-
26,647
-
39,511
-
34,663
-
60,912
-
6,337
-
22,175
-
2,565
-
156,169
-
5,231
-
-
6,600
734,483
6,600
734,483
6,600		 2022
£
300,825
71,140
8,308
26,647
39,511
34,663
60,912
6,337
22,175
2,565
156,169
5,231
6,600
741,083
741,083		 Support
costs
Governance
costs
£
£
10,822
-
82,343
-
2,962
-
33,309
-
44,743
-
20,887
-
72,951
-
5,447
-
15,310
-
12,362
-
26,138
-
15,245
-
-
7,140
342,519
7,140
342,519
7,140		 2021
£
10,822
82,343
2,962
33,309
44,743
20,887
72,951
5,447
15,310
12,362
26,138
15,245
7,140
349,659
349,659

Governance costs includes payments to the auditors of £6,600 (2021- £7,140) for audit fees.

8 Other

Financing costs 2022
£
58,677
58,677		 2021
£
-
-

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

10 Employees

The average monthly number of employees during the year was:

2022 2021
Number Number
49 63

DEMENTIA MATTERS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

10
Employees
Employment costs
Wages and salaries
Social security costs
Other pension costs		 (Continued)
2022
2021
£
£
799,133
1,007,833
40,672
70,704
10,925
16,275
850,730
1,094,812		 (Continued)
2022
2021
£
£
799,133
1,007,833
40,672
70,704
10,925
16,275
850,730
1,094,812
1,094,812

The total employee benefits of the key management personnel were £184,369 (2021 - £213,504).

There were no employees whose annual remuneration was more than £60,000.

11 Tangible fixed assets

Tangible fixed assets
Cost
At 1 April 2021
Additions
At 31 March 2022
Depreciation and impairment
At 1 April 2021
Depreciation charged in the year
At 31 March 2022
Carrying amount
At 31 March 2022
At 31 March 2021		 Freehold
land and
buildings
Furniture
and
equipment
£
£
3,024,082
376,285
9,432
1,283
3,033,514
377,568
837,407
361,487
60,576
9,814
897,983
371,301
2,135,531
6,267
2,186,675
14,798		 Motor
vehicles
£
93,865
-
93,865
92,115
750
92,865
1,000
1,750		 Total
£
3,494,232
10,715
3,504,947
1,291,009
71,140
1,362,149
2,142,798
2,203,223

12 Debtors

Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income		 2022
£
135,377
7,048
55,580
198,005		 2021
£
76,344
-
23,111
99,455

DEMENTIA MATTERS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

13 Loans and overdrafts

Bank loans
Payable within one year
Payable after one year		 2022
£
547,630
44,000
503,630		 2021
£
220,000
25,667
194,333

Bank loans of £553,010 (2021 - £220,000) are secured against the assets of the charity.

CIBL loan is repayable over 60 monthly instalments at a margin of 3.19% over base rate, with an interest free period of 12 months after drawdown.

The Ortus bank loan is repayable at the end of the 18 month period or at any point after 3 months. Interest is charged at 0.79% per calendar month for the term of the loan.

14 Creditors: amounts falling due within one year

Notes
Bank loans
13
Other taxation and social security
Deferred income
16
Trade creditors
Other creditors
Accruals
15
Creditors: amounts falling due after more than one year
Notes
Bank loans
13
16
Deferred income
Other deferred income		 2022
£
44,000
133,945
4,821
59,648
37,000
74,783
354,197
2022
£
503,630
2022
£
4,821		 2021
£
25,667
33,878
38,184
22,852
70,357
85,304
276,242
2021
£
194,333
2021
£
38,184

Deferred income is included in the financial statements as follows:

DEMENTIA MATTERS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

16 Deferred income

Deferred income (Continued)
2022 2021
£ £
Deferred income is included within:
Current liabilities 4,821 38,184
Movements in the year:
Deferred income at 1 April 2021 38,184 10,000
Released from previous periods (38,184) (10,000)
Resources deferred in the year 4,821 38,184
Deferred income at 31 March 2022 4,821 38,184

17 Retirement benefit schemes

Defined contribution schemes

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

The charge to profit or loss in respect of defined contribution schemes was £10,925 (2021 - £16,275).

Contributions totalling £319 (2021 - £814) were payable to the scheme at the end of the year and are included in creditors.

DEMENTIA MATTERS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

18 Unrestricted funds

These are unrestricted funds which are material to the charity's activities made up as follows:

Current financial year

Balance at
1 April 2021
£
General Funds
(196,832)
Property
2,186,675
Fixed Assets
16,548
2,006,391
Prior financial year
Balance at
1 April 2020
£
General Funds
30,233
Property
2,241,444
Fixed Assets
40,938
2,312,615		 Movement in funds
Incoming
resources
Resources
expended
Transfers
Balance at
31 March
2022
£
£
£
£
1,082,307
(1,234,939)
(10,715)
(360,179)
-
(60,576)
9,432
2,135,531
-
(10,564)
1,283
7,267
1,082,307
(1,306,079)
-
1,782,619
Movement in funds
Incoming
resources
Resources
expended
Transfers
Balance at
1 April 2021
£
£
£
£
1,137,305
(1,356,230)
(8,140)
(196,832)
-
(60,461)
5,692
2,186,675
-
(26,838)
2,448
16,548
1,137,305
(1,443,529)
-
2,006,391

Property Reserve

This reserve reflects the cost expended in relation to the Bradbury Centre and forecasted expenditure on the property in subsequent year. Depreciation on land and buildings is charged against this reserve.

Fixed Asset Reserve

This reserve includes all other fixed assets maintained in the balance sheet as the reserve tied up in these items are not generally available as free reserves. Depreciation on these assets is charged against this reserve.

DEMENTIA MATTERS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

19 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Current financial year

Balance at
1 April 2021
r
£
Northumberland Dementia Project
75,563
Outreach centres
1,500
Rothley Trust
1,500
Pargiter Trust
-
The Ringtons "Tea Growing Community" Charitable
Trust
-
National Lottery Award for All
-
Sports England
-
NCC Infection Control
-
Community Chest
-
78,563		 Movement in funds
Incoming
esources
Resources
expended
Balance at
31 March
2022
£
£
£
27,500
(103,063)
-
-
(1,500)
-
-
(1,500)
-
9,157
(9,157)
-
4,590
(4,590)
-
8,670
-
8,670
8,520
-
8,520
7,524
(7,524)
-
713
(713)
-
66,674
(128,047)
17,190		 Movement in funds
Incoming
esources
Resources
expended
Balance at
31 March
2022
£
£
£
27,500
(103,063)
-
-
(1,500)
-
-
(1,500)
-
9,157
(9,157)
-
4,590
(4,590)
-
8,670
-
8,670
8,520
-
8,520
7,524
(7,524)
-
713
(713)
-
66,674
(128,047)
17,190
17,190

Prior financial year

Prior financial year
Movement in funds
Balance at Incoming Resources Balance at
1 April 2020 resources expended
1 April 2021
£ £ £ £
Northumberland Dementia Project 75,563 27,500 (27,500) 75,563
Outreach centres 1,500 - - 1,500
Rothley Trust 1,500 - - 1,500
78,563 27,500 (27,500) 78,563

Northumberland Dementia Project

The Ballinger Charitable Trust agreed to fund a 3 year project delivered by Dementia Matters to improve the delivery of dementia services and support in the North East of England. Incoming resources represent additional grants received under this project during the year. The reserve is used to pay for staff recruitment and training and other set up costs for specific projects. Monies have also been spent to fund the set-up of our new day centre in Cramlington.

Outreach centres

We have received grants from Catherine Cookson Trust and Hadrian Trust towards a project of opening up three outreach centres. Our plan were delayed due to COVID-19 and we will look to undertake this project in due course.

Rothley Trust

Grants received to develop a potential new day centre service in north Northumberland.

DEMENTIA MATTERS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

19 Restricted funds

(Continued)

Partiger Trust

Grant received for a 9 month pilot of "Dementia Days", specifically aimed at integrating dementia sufferers, their support network and volunteers into the local community, relieving some of the ongoing isolation/ transition that COVID-19 has caused.

The Ringtons "Tea Growing Community" Charitable Trust

Grant received for a project named Growing Support, a gardening project to tidy up the gardening area at the Bradbury centre, engaging Dementia sufferers and their support network. This aims to reintegrate them into their peer support network and wider society following the devastating impact that lockdown restrictions have had on our service users.

National Lottery Awards for All

Grant received for a project named Growing Support. This aims to deliver specific activities at our two sites, engaging Dementia sufferers and their support network which is conductive to reintegrate them into their peer support network and wider society following the devastating impact that lockdown restrictions have had on our service users.

Sports England

Grant received for a project named Strive to Thrive. In celebration of the Queens Jubilee we will deliver weekly classes of chair based and appropriate standing or water based exercises to maintain physical movement for our day centre users and residential patients. This project will also be open to the wider support networks made up of family and friends of Dementia patients as well as fully open to the local community where our care centres are situated.

20 Analysis of net assets between funds Current financial year

Unrestricted
funds
Restricted
funds
2022
2022
£
£
Fund balances at 31 March 2022 are represented by:
Tangible assets
2,142,798
-
Current assets/(liabilities)
143,451
17,190
Long term liabilities
(503,630)
-
1,782,619
17,190		 Total
2022
£
2,142,798
160,641
(503,630)
1,799,809

Prior financial year

Unrestricted
funds
Restricted
funds
2021
2021
£
£
Fund balances at 31 March 2021 are represented by:
Tangible assets
2,203,223
-
Current assets/(liabilities)
(2,499)
78,563
Long term liabilities
(194,333)
-
2,006,391
78,563		 Total
2021
£
2,203,223
76,064
(194,333)
2,084,954

DEMENTIA MATTERS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

21 Operating lease commitments

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2022 2021
£ £
Within one year - 19,184

22 Related party transactions

There were no disclosable related party transactions during the year (2021 - none).

23 Cash generated from operations 2022 2021
£ £
Deficit for the year (285,145) (306,224)
Adjustments for:
Depreciation and impairment of tangible fixed assets 71,140 87,299
Movements in working capital:
(Increase)/decrease in debtors (98,550) 45,717
Increase in creditors 92,985 57,389
(Decrease)/increase in deferred income (33,363) 38,184
Cash absorbed by operations (252,933) (77,635)

DEMENTIA MATTERS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

24 Analysis of changes in net debt
Current financial year
At Cash flows At
1 April 2021 31 March 2022
£ £ £
Cash at bank and in hand 252,851 63,982 316,833
Loans falling due within one year (25,667) (18,333) (44,000)
Loans falling due after more than one year (194,333) (309,297) (503,630)
32,851 (263,648) (230,797)
Previous financial year
At Cash flows At
1 April 2020 1 April 2021
£ £ £
Cash at bank and in hand 118,626 134,225 252,851
Loans falling due within one year - (25,667) (25,667)
Loans falling due after more than one year - (194,333) (194,333)
118,626 (85,775) 32,851