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2023-03-31-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 2023

DEMENTIA MATTERS

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees L J Ali, Vice Chair
D Lovenbury
L R Joyce, Chair
A F Fairbairn
J Scott
K Sidhu (Appointed 25 July 2023)
W Wilson (Appointed 26 September
2023)
Charity number 1045517
Company number 02980817
Registered office The Bradbury Centre
Darrell Street
Brunswick Village
Newcastle upon Tyne
NE13 7DS
Auditor Sumer Auditco Limited
Unit 2, 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 - 29

DEMENTIA MATTERS

CHAIRMAN'S STATEMENT

FOR THE YEAR ENDED 31 MARCH 2023

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

Last year we acknowledged the sad loss of our client and dear friend, Dr Jo Wilson who sadly died in 2023. The Charity was extremely proud and privileged to be able to care for Jo and support her husband Bill in her final days as well as playing a part in the well documented and received documentary produced by the BBC. We remain 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. As part of our joint commitment, I was delighted to welcome Bill joining us as a Trustee during 2023.

FY 22/23 unfortunately remained overshadowed by financial pressures and the laws and regulations governing the care sector. The recently published analysis (Jan 2024) carried out by Care England and hft summarise well, the challenges that we have continued to grapple with and it is a huge credit to all concerned that we remain a functioning a viable organisation. Care England reports;

Year of financial survival

FY22/23 was for the Board and CEO another year of financial survival whilst also witnessing the beginning of some green shoots as the charity began to reset and lay firmer foundations from which to move forward.

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 at the same time as securing some much-needed funding including a significant donation to allow us to re-establish the dementia advice service and a specialist dementia nurse post.

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 and the 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 continuing as a priority going forward. The ongoing 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 2023

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

  4. Newcastle City Council, North Tyneside Council, Northumberland County Council 6. Primary Care and other agencies who refer service users to us

  5. Newcastle University

  6. Our colleagues

  7. Our CEO Bev Reid

  8. The trustees who give so freely of their time

On behalf our Chair - Vice Chair Lee J Ali

Date: 17 May 2024

DEMENTIA MATTERS

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2023

The trustees present their annual report and financial statements for the year ended 31 March 2023.

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 Memorandum and Articles of Association dated 18 July 2012, 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 bi-monthly and reports directly to the board of Trustees.

DEMENTIA MATTERS

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Going concern

In reviewing the financial statement for YE 31st March 23, there has been an improvement in the charity’s current asset position which has improved from £514,838 to £684,948.

In line with the above, Cash at Bank at 31 March 2023 was £336,521, having increased from £316,833 in the prior year. The charity is showing net current liabilities of £284,005 this year (£160,641 current assets last year) which is due to reclassification of the Ortus loan as due within one year, this loan was repaid in full in May 2023.

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 an overall deficit of £119,709 for the year to 31 March 2023, which is a substantial improvement over the 2022 deficit of £285,145. 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 trustees 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, to ensure that future surpluses are achieved. Further to the increase in bed capacity in 22/23 a remodelling exercise has also been carried out on the Charity’s costs resulting in several actions including increasing charges for residential and respite serviced. Work is currently underway with re costing the residential service for 23/24.

Significant work has continued 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 also made significant progress in developing strategic partnerships both in the NHS and also the commercial sector which are resulting in positive and productive outcomes including funding to establish a specialist Dementia Nurse role, being nominated charity of the year (2024) with several large commercial organisations and increasing the contribution from volunteer time.

The CBILs loan has continued to be repaid and the organisation repaid in full the £300,000 loan taken out in 2021/ 22. 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 close to breakeven, with potential for surplus within the next 12 months to 31st March 25. 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 2023

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.

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.

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.

DEMENTIA MATTERS

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

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 and now rising costs and cost of living pressures have 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.

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) M Donnan (Resigned 16 December 2022) D Lovenbury L R Joyce, Chair A F Fairbairn J Scott K Sidhu (Appointed 25 July 2023) W Wilson (Appointed 26 September 2023)

DEMENTIA MATTERS

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

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, 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 organisation 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, B Reid. 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 2023

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 Sumer Auditco Limited 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 Trustee

17 May 2024

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 2023 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 Sumer Auditco Limited Statutory Auditor Unit 2, Gosforth Park Avenue Newcastle upon Tyne NE12 8EG

Date: 17 May 2024

DEMENTIA MATTERS

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2023

Current financial year
Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income from:
Donations and legacies
3
241,580
23,907
Charitable activities
4
799,646
-
Investments
5
186
-
Total income
1,041,412
23,907
Expenditure on:
Raising funds
6
1,936
2,150
Charitable activities
7
1,117,111
26,282
Other expenditure
10
37,549
-
Total expenditure
1,156,596
28,432
Net expenditure and movement in funds
(115,184)
(4,525)
Reconciliation of funds:
Fund balances at 1 April 2022
1,782,619
17,190
Fund balances at 31 March 2023
1,667,435
12,665		 Total
2023
£
265,487
799,646
186
1,065,319
4,086
1,143,393
37,549
1,185,028
(119,709)
1,799,809
1,680,100		 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

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

DEMENTIA MATTERS

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2023

Prior 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
6
1,263
-
Charitable activities
7
1,246,139
128,047
Other expenditure
10
58,677
-
Total expenditure
1,306,079
128,047
Net income and movement in funds
(223,772)
(61,373)
Reconciliation of funds:
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

DEMENTIA MATTERS

BALANCE SHEET

AS AT 31 MARCH 2023

Notes
Fixed assets
Tangible assets
14
Current assets
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due within
one year
16
Net current (liabilities)/assets
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
17
Net assets
The funds of the charity
Restricted income funds
22
Unrestricted funds		 2023
£
£
2,070,438
348,427
336,521
684,948
(968,953)
(284,005)
1,786,433
(106,333)
1,680,100
12,665
1,667,435
1,680,100		 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

The financial statements were approved by the trustees on 17 May 2024

L J Ali, Vice Chair Trustee

Company registration number 02980817 (England and Wales)

DEMENTIA MATTERS

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023

Notes
Cash flows from operating activities
Cash generated from/(absorbed by)
operations
25
Investing activities
Purchase of tangible fixed assets
Investment income received
Net cash used in investing activities
Financing activities
Repayment of bank loans
Net cash (used in)/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		 2023
£
(8,568)
186
(44,000)		 £
72,070
(8,382)
(44,000)
19,688
316,833
336,521		 2022
£
£
(252,933)
(10,715)
-
(10,715)
327,630
327,630
63,982
252,851
316,833

DEMENTIA MATTERS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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. The Board has concluded that the going concern assumption is appropriate in preparing these financial statements.

The trustees are confident that the current cash levels combined with the continued support of major creditors mitigate the risk of going concern uncertainty and will ensure that the charity is able to continue to operate for at least twelve months from the approval of these financial statements. As such the financial statements have been prepared on a going concern basis.

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 or grantors 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.

DEMENTIA MATTERS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

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.

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).

DEMENTIA MATTERS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

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.

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 2023

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 £2,070,438 (2022: £2,142,798).

3 Donations and legacies

Unrestricted
Restricted
funds
funds
2023
2023
£
£
Donations and gifts
232,080
-
Grants
9,500
23,907
241,580
23,907
Grants receivable for
core activities
Coronavirus Job
Retention Scheme
-
-
Grants from other
charities
9,500
23,907
9,500
23,907		 Total Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
232,080
128,076
-
33,407
67,992
66,674
265,487
196,068
66,674
-
9,558
-
33,407
58,434
66,674
33,407
67,992
66,674		 Total
2022
£
128,076
134,666
262,742
9,558
125,108
134,666

DEMENTIA MATTERS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

4 Income from charitable activities

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Home Support 186,053 326,660
Day Centres 307,698 321,085
Residential Respite Care 275,559 217,140
Other income 30,336 21,354
799,646 886,239
Unrestricted Unrestricted
funds funds
2023 2022
£ £
Interest receivable 186 -

6 Raising funds

Unrestricted
Restricted
funds
funds
2023
2023
£
£
Fundraising and publicity
Advertising
1,936
2,150
1,936
2,150		 Total Unrestricted
funds
2023
2022
£
£
4,086
1,263
4,086
1,263		 Total Unrestricted
funds
2023
2022
£
£
4,086
1,263
4,086
1,263
1,263

DEMENTIA MATTERS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

7 Expenditure on charitable activities

Direct costs
Staff costs
Relief of persons with Dementia
Share of support and governance costs (see note 8)
Support
Governance
Analysis by fund
Unrestricted funds
Restricted funds		 2023
£
514,065
91,322
605,387
517,814
20,192
1,143,393
1,117,111
26,282
1,143,393		 2022
£
549,905
83,198
633,103
726,076
15,007
1,374,186
1,246,139
128,047
1,374,186

8 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
Accountancy
Analysed between
Charitable activities		 Support
costs
Governance
costs
£
£
221,594
-
65,554
-
8,759
-
28,422
-
31,828
-
31,056
-
26,398
-
3,576
-
22,842
-
1,142
-
77,921
-
(1,278)
-
-
6,600
-
13,592
517,814
20,192
517,814
20,192		 2023
£
221,594
65,554
8,759
28,422
31,828
31,056
26,398
3,576
22,842
1,142
77,921
(1,278)
6,600
13,592
538,006
538,006		 Support
costs
Governance
costs
£
£
300,825
-
71,140
-
8,308
-
26,647
-
39,511
-
34,663
-
60,912
-
6,337
-
22,175
-
2,565
-
147,762
-
5,231
-
-
6,600
-
8,407
726,076
15,007
726,076
15,007		 2022
£
300,825
71,140
8,308
26,647
39,511
34,663
60,912
6,337
22,175
2,565
147,762
5,231
6,600
8,407
741,083
741,083

Governance costs includes payments to the auditors of £6,600 (2022: £6,600) for audit fees.

DEMENTIA MATTERS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

9 Auditor's remuneration

Fees payable to the charity's auditor and associates:
For audit services
Audit of the financial statements of the charity
For other services
All other non-audit services		 2023
£
6,600
13,592		 2022
£
6,600
8,407

10 Other expenditure

Unrestricted Unrestricted
funds funds
2023 2022
£ £
Net loss on disposal of tamgible fixed assets 15,374 -
HMRC interest 14,616 -
Financing costs 7,559 58,677
37,549 58,677

11 Trustees

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

12 Employees

The average monthly number of employees during the year was:

Employment costs
Wages and salaries
Social security costs
Other pension costs		 2023
Number
50
2023
£
682,157
43,327
10,175
735,659		 2022
Number
49
2022
£
799,133
40,672
10,925
850,730

DEMENTIA MATTERS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

12 Employees (Continued)

The number of employees whose annual remuneration was more than £60,000
is as follows:
£70,001 to £80,000
Remuneration of key management personnel
The remuneration of key management personnel is as follows.
Aggregate compensation		 2023
Number
1
2023
£
168,922		 2022
Number
-
2022
£
184,369

13 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

14 Tangible fixed assets

Tangible fixed assets
Freehold land
and buildings
Furniture and
equipment
£
£
Cost
At 1 April 2022
3,033,514
377,568
Additions
-
8,568
Disposals
(16,439)
(162,990)
At 31 March 2023
3,017,075
223,146
Depreciation and impairment
At 1 April 2022
897,983
371,301
Depreciation charged in the year
60,670
4,134
Eliminated in respect of disposals
(1,315)
(162,990)
At 31 March 2023
957,338
212,445
Carrying amount
At 31 March 2023
2,059,737
10,701
At 31 March 2022
2,135,531
6,267		 Motor
vehicles
£
93,865
-
(3,000)
90,865
92,865
750
(2,750)
90,865
-
1,000		 Total
£
3,504,947
8,568
(182,429)
3,331,086
1,362,149
65,554
(167,055)
1,260,648
2,070,438
2,142,798

DEMENTIA MATTERS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

15
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income
16
Creditors: amounts falling due within one year
Notes
Bank loans
18
Other taxation and social security
Deferred income
19
Trade creditors
Other creditors
Accruals
17
Creditors: amounts falling due after more than one year
Notes
Bank loans
18
18
Loans and overdrafts
Bank loans
Payable within one year
Payable after one year		 2023
£
177,591
-
170,836
348,427
2023
£
397,297
283,276
21,507
59,194
140,889
66,790
968,953
2023
£
106,333
2023
£
503,630
397,297
106,333		 2022
£
135,377
7,048
55,580
198,005
2022
£
44,000
133,945
4,821
59,648
37,000
74,783
354,197
2022
£
503,630
2022
£
547,630
44,000
503,630

Bank loans of £503,630 (2022: £547,630) 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.

DEMENTIA MATTERS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

19 Deferred income

Other deferred income
Deferred income is included in the financial statements as follows:
Deferred income is included within:
Current liabilities
Movements in the year:
Deferred income at 1 April 2022
Released from previous periods
Resources deferred in the year
Deferred income at 31 March 2023		 2023
£
21,507
2023
£
21,507
4,821
(4,821)
21,507
21,507		 2022
£
4,821
2022
£
4,821
38,184
(38,184)
4,821
4,821

20 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 SOFA in respect of defined contribution schemes was £10,175 (2022: £10,925).

Contributions totalling £1,282 (2022: £641) were payable to the scheme at the end of the year and are included in creditors.

21 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

Property
Fixed Assets
General funds		 At 1 April
2022
Incoming
resources
Resources
expended
£
£
£
2,135,531
-
(75,794)
7,267
-
(5,134)
(360,179)
1,041,412
(1,075,668)
1,782,619
1,041,412
(1,156,596)		 Transfers
At 31 March
2023
£
£
-
2,059,737
8,568
10,701
(8,568)
(403,003)
-
1,667,435

DEMENTIA MATTERS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

21
Unrestricted funds
Previous year:
Property
Fixed Assets
General funds		 At 1 April
2021
Incoming
resources
Resources
expended
£
£
£
2,186,675
-
(60,576)
16,548
-
(10,564)
(196,832)
1,082,307
(1,234,939)
2,006,391
1,082,307
(1,306,079)		 (Continued)
Transfers
At 31 March
2022
£
£
9,432
2,135,531
1,283
7,267
(10,715)
(360,179)
-
1,782,619

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.

22 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

National Lottery Awards for All
Sport England
NTC National Living Wage
Mental Health Concern
NEA Smart Meter
The Dickon Trust & Prime Trust		 At 1 April
2022
Incoming
resources
Resources
expended
At 31 March
2023
£
£
£
£
8,670
-
-
8,670
8,520
-
(8,520)
-
-
3,592
(3,592)
-
-
500
(500)
-
-
9,827
(9,827)
-
-
9,988
(5,993)
3,995
17,190
23,907
(28,432)
12,665

DEMENTIA MATTERS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

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

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.

DEMENTIA MATTERS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

23 Analysis of net assets between funds Current financial year

Unrestricted
funds
Restricted
funds
2023
2023
£
£
Fund balances at 31 March 2023 are represented by:
Tangible assets
2,070,438
-
Current assets/(liabilities)
(296,670)
12,665
Long term liabilities
(106,333)
-
1,667,435
12,665		 Total
2023
£
2,070,438
(284,005)
(106,333)
1,680,100

Prior 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

24 Related party transactions

There were no disclosable related party transactions during the year (2022 - none).

25 Cash generated from operations

Cash generated from operations
Deficit for the year
Adjustments for:
Investment income recognised in statement of financial activities
Loss on disposal of tangible fixed assets
Depreciation and impairment of tangible fixed assets
Movements in working capital:
(Increase) in debtors
Increase in creditors
Increase/(decrease) in deferred income
Cash generated from/(absorbed by) operations		 2023
£
(119,709)
(186)
15,374
65,554
(150,422)
244,773
16,686
72,070		 2022
£
(285,145)
-
-
71,140
(98,550)
92,985
(33,363)
(252,933)

DEMENTIA MATTERS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

26 Analysis of changes in net (debt)/funds
Current financial year
At Cash flows At
1 April 2022 31 March 2023
£ £ £
Cash at bank and in hand 316,833 19,688 336,521
Loans falling due within one year (44,000) (353,297) (397,297)
Loans falling due after more than one year (503,630) 397,297 (106,333)
(230,797) 63,688 (167,109)
Previous financial year
At Cash flows At
1 April 2021 1 April 2022
£ £ £
Cash at bank and in hand 118,626 198,207 316,833
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)
(101,374) (129,423) (230,797)