REGISTERED COMPANY NUMBER: 05885305 (England and Wales) REGISTERED CHARITY NUMBER: 1116438 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 FOR FOOD FOR THE BRAIN FOUNDATION (A COMPANY LIMITED BY GUARANTEE) Orcom Civvals Limited Accountants 50 Seymour Street IA)ndon WIH 7JG
FOOD FOR THE BRAIN FOUNDATION CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Page Report of the Trustees Independent Exan]iner'$ Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 10 to 14 Detailed Statement of Financial Activities 15 to 16
FOOD FOR THE BRAIN FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024 The trustees who are also directors of the charity for the purposes of the Coyyjpanies Act 2006, present their report with the financial statements of the charity for the year ended 30 June 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their aecounts in accordanee with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). OBJECTIVES AND ACTIVITIES Objectives and activities The objects for which the Trust is established is to advance the education of the general public and health professionalb in all areas concerning nutrition and mental health. The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake. The main objectives of the year were to continue . to be a source of evidence-based educational resourees for both the public and healthcare professional via our website, digital tools, weekly e-news, medialmagazine interviews, social media and events,. to this end we also presented at five major conferences and gave dozens 0£ presentations and media interviews. We developed a network of leading health profesbional organisations who share our educational material to their groups. to advanee awareness of the importance of nutrition in mental health conditions and mental wellbeing, with a continuing focus on reducing the risk of Alzheimer's and dementia as well as widening our educational outreach work and services. We now work with ten leading experts at universities around the world, learning and sharing prevention approaches. to develop our volunteer and Ambassador programme who as helping to 'preseribe' COGNITION into their communitie8. to launch and eontinue to develop the Charity's COGNITION programme - a highly personalised digital health tool to educate individuals on how to reduce the risk of Alzheimer's and Dementia in line with our Alzheimer's Prevention Project: a programme to raise awareness of the steps which can be taken to reduce risk of Alzheimer's including drafting a manifesto for change and beginning preparations for a ma8terclass on the topic. Page I
FOOD FOR THE BRAIN FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024 ACHIEVEMENT AND PERFORMANCE The primars, focus for thi8 year has been in reaching more individuals, enrolling them in the online Cognitive Function Test and Dementia Risk Index questionnaire, signing up to the educational programme COGNITION as well as adding biological data by adding blood te8t data via home test kits to expand the research data. A further 38,788 people registered for the test, also joining our growing list of subscribers, with several thousand also adding biological data via home te8t kits. The active mailing li8t has also grown 8ubstantially Lo over 50,000. Donations via FRIENDS of the charity also grow to 1,550 donating £44,700. The second half of the year, from April, launched the Upgrade Your Brain campaign which reached several million people via media exposure. This also included a conference and a UK and Ireland lecture tour generating an income from events of £53,522. Other donations are increased to £57,396. We continue to inake the educational service via the website, e-communication8 and the Cognitive Function test and COGNITION better. Considerable expansion of the Research department, including adding testing facilitie8, Outsourced to our partner laboratory, and building the Research Database on the REDCap platform 18 enabling u8 to have the mean8 to learn what really helps cognitive decline. This development work is ongoing. Significant efforts were made in streamlining the operational functions, refining the marketing and communications approach, reducing cost8 and improving reporting. The core team includes inarketing and coinmunications (Kezia), customer and COGNITION support {KiLn), digital operations (Steffan), research tests (Joyce) and database (Cath) each working autonoinously, supported by the CEO, Patrick Holford. Each are Supported by an able team of volunteers. FINANCIAL REVIEW Financial position The fund balances at the end of the year are 8hown on page 7.. The principal funding sources were from corporate, charitable trust and individual member donations totalling £244,908 and events totalling £52,990.. The Trustees regularly monitor the Charity's Reserves to ensure that an adequate level is maintained to meet its stated objectives for the maintenance of core activities and the development of existing and future projects. The level of reserves established by the Trustees are those that the Trustees believe are sufficient to enable the Charity to carry out its objectives and meet its financial obligations. The Trustees have assessed the major risks to which the Charit}y is exposed and are satisfied that systems are in place to mitigate exposure to the tnajor risks. Page 2
FOOD FOR THE BRAIN FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The Charity is a company IiLnited by guarantee. The Trustees, who are also the directors for the purpose of company law, and who served during the year ave as below. None of the Trustees has any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute £ l in the event of a winding up. Each calendar year normally one-third of the Trustees are due to retire by rotation, and can stand for re.election. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 00885305 (England and Walc&) Registered Charity number 1116438 Registered office Ftorest Barn Retreat Forest Coal Pit Abergavenny Monmouthshire NP7 7LL Trustees DrRVTutt M W Metcalfe Mrs M Limnios Ms J Ferrari-wells A Banerjee P J Holford Mrs V Roche R Brown (appointed 111012023) B Parker (appointed 111012023) Company Secretary Ms J Ferrari.Wells Independent Examiner M F Gibbons FCA, TEP Orcom Civvals Limited Accountants 50 Seymour Street London WIH 7JG Page 3
FOOD FOR THE BRAIN FOUNDATION REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024 This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by order of the board of trustees on 12 December 2024 and signed on its behalf by.. Ms J Ferrari-wells - Trustee Page 4
INDEPENDENT EK4MINER'S REPORT TO THE TRUSTEES OF FOOD FOR THE BRAIN FOUNDATION Independent examiner's report to the trustees of Food for the Brain Foundation ('the Company,) I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2024. Responsibilities and basis of report As the charity's trustees of the Company (and also its directors for the purposes of compans, law) you are responsible for the preparation of the account8 in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having 8atisfied myself that the accounts of the Company are not required to be audited under Part 16 0£ the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity'8 account8 as carried out under Section 145 of the Charitie8 Act 2011 {'the 2011 Act,). In carrying out my examination I have followed the DiYeetion8 given by the Charity Commission under Section 145(5) (b) of the 2011 Act. Page 5
INDEPENDENT EK4MINER'S REPORT TO THE TRUSTEES OF FOOD FOR THE BRAIN FOUNDATION Independent examiner's statement Since your charity's gross income exceeded £250,000 your examiner must be a Jnernber of a listed body. I can confirm that I am qualified to undertake the examination because I a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come Lo my attention in connection with the examination giving me cause to believe: accounting reeords were not kept in respect of the Company as required by Section 386 0£ the 2006 Act,. or the accounts do not aceord with those records; or the accounts do not eomply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Praetiee for accounting and reporting b3T charitie8 (applicable to charities preparing their accounts in aceordanee with the Finaneial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). I have no concerns and have eome acro88 no other matter8 in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the aceount8 to be reached. M F Gibbons FCA, TEP The In¥titute of Chartered Accountants in England and Wales Orcom Civvals Limited Accountants 50 Seymour Street London WIH 7JG 12 December 2024 Page 6
FOOD FOR THE BRAIN FOUNDATION STATEMENT OF FINANCIAL ACTtVITIES FOR THE YEAR ENDED 30 JUNE 2024 2024 Unrestricted fund 2023 Total funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 244,908 110,708 Other activities Investment income 52,990 129 21,860 72 Total 298,027 132,640 EXPENDITURE ON Charitable activities Support eosts 22,247 74,035 Expenditure on charitable activitie8 285,401 30,799 Total 307,648 104,834 NET INCOMEI(EXPENDITURE) (9,621) 27,806 RECONCILIATION OF FUNDS Total fundEy brought forward 62,848 35,042 TOTAL FUNDS CARRIED FORWARD 53,227 62,848 The notes form part of these financial statement8 Page 7
FOOD FOR THE BRAIN FOUNDATION BALANCE SHEET 30 JUNE 2024 2024 Unrestricted fund 2023 Total funds Notes FIXED ASSETS Tangible asset8 15,021 23,913 CURRENT ASSETS Stock8 Debtors Cash at bank 13,088 9,324 53,717 4,350 60,563 76,129 64,913 CREDITORS Amounts falling due within one year (37,923) (25,978) NET CURRENT ASSETS 38,206 38,935 TOTAL ASSETS LESS CURRENT LIABILITIES 53,227 62,848 NET ASSETS 53,227 62,848 FUNDS Unrestricted funds io 53,227 62,848 TOTAL FUNDS 53,227 62,848 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024. The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial }'ear in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable compan}.. (b) The notes form part of these financial statement8 Page 8 continued..
FOOD FOR THE BRAIN FOUNDATION BALANCE SHEET - continued 30 JUNE 2024 These fjnancial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small copanieS regime. The financial statements were approved by the Board of Trustees and authorised for issue on 12 December 2024 and were signed on its behalf by: J Ferrari-wells - Trustee The notes form part of these financial statement8 Page 9
FOOD FOR THE BRAIN FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. Income All income is recogni8ed in the Statement of Financial Activities once the charity has entitlement to the funds, it 18 probable that the income will be received and the amount can be measured reliably, Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals ba818 and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each a88et over its estimated u8eful life. Computer equipment 25 /0 on c08t Stocks Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Taxation Tho charity is exempt from corporation tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Page 10 continued..
FOOD FOR THE BRAIN FOUNDATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2024 OTHER ACTIVITIES 2024 2023 Events Other 22,896 30,094 3,499 18,361 52,990 21,860 INVESTMENT INCOME 2024 2023 Deposit account interest 129 72 NET INCOMEI(EXPENDITURE) Net incomel(expenditure) is stated after chargingl(erediting): 2024 2023 Independent examiners fee Depreciation . owned assets 756 12,972 600 12,285 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefit8 for the year ended 30 June 2024 nor for the year ended 30 June 2023. Trustees, expenses There were no trustees, expenses paid for the year ended 30 June 2024 nor for the year ended 30 June 2023. Page 11 continued..
FOOD FOR THE BRAIN FOUNDATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2024 TANGIBLE FIXED ASSETS Computer equipment COST At l July 2023 Addition8 47,810 4,080 At 30 June 2024 51,890 DEPRECIATION At l July 2023 Charge for year 23,897 12,972 At 30 June 2024 36,869 NET BOOK VALUE At 30 June 2024 15,021 At 30 June 2023 23,913 STOCKS 2024 2023 Stocks 13,088 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade debtor8 Other debtor8 Prepayments 9,324 2,590 416 1,344 9,324 4,350 Page 12 continued..
FOOD FOR THE BRAIN FOUNDATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2024 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade creditors Other creditors Accrued expenses 25,754 10,000 2,169 7,809 10,000 8,169 37,923 25,978 io. MOVEMENT IN FUNDS Net movement in funds At 3016124 AL 117123 Unrestricted funds General fund 62,848 (9,621) 53,227 TOTAL FUNDS 62,848 (9,621) 53,227 Net movement in funds, included in the above are a8 follows.. Incoining resources Re80urces expended Movement in funds Unrestricted funds General fund 298,027 (307,648) (9,621) TOTAL FUNDS 298,027 (307,648) (9,621) Comparatives for movement in funds Net movement in fund8 At 3016123 At 117122 Unrestricted funds General fund 35,042 27,806 62,848 TOTAL FUNDS 35,042 27,806 62,848 Page 13 continued..
FOOD FOR THE BRAIN FOUNDATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2024 io. MOVEMENT IN FUNDS - continued Comparative net movement in funds, included in the above are as follow8.. Incoming resources Resources expended Movement in fund8 Unrestricted funds General fund 132,640 (104,834) 27,806 TOTAL FUNDS 132,640 (104,834) 27,806 ii. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 30 June 2024. Page 14
FOOD FOR THE BRAIN FOUNDATION DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2024 2024 2023 INCOME AND ENDOWMENTS Donations and legacies Donations 244,908 110,708 Other activities Events Other 22,896 30,094 3,499 18,361 52,990 21,860 Investment income Deposit account interest 129 72 Total incoming resource8 298,027 132,640 EXPENDITURE Expenditure on charitable activities Cost8 of providing education & research in nutrition. External consultant8 e08ts Other costs 154,799 111,670 18,932 30,799 285,401 30,799 Support costs Management Communications and IT General office Finance costs Insurance Depreciation on Computer equipment 7,758 3,767 120 444 12,285 1,403 6,652 464 12,972 21,491 24,374 Governance costs Independent examiners fee Legal fees 756 600 49,061 756 49,661 Thi8 page does not form part of the Statutory financial 8tatement8 Page 15
FOOD FOR THE BRAIN FOUNDATION DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2024 2024 2023 Total resources expended 307,648 104,834 Net (expenditure)lincoJne (9,621) 27,806 Thi8 page does not form part of the Statutory financial 8tatement8 Page 16