Do¢usEqn Envelope ID.. BF493428-4E8F4E(c-gB03-BC907044CFFS Registered number: 08236220 Charlty numbers: q 15143 & SC045615 DEMENTIA RESEARCH UK {A Company Limited by Guarantoo) CONSOLIDATED TRUSTEES. REPORT AND AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023
Docuslgn Envelope ID.. 8F493426-4E8F4EOC-9B03-&C907044CFF5 DEMENTIA RESEARCH UK (A Company Llmlted by Guarantee) CONTENTS Page Reference and admlnlstratlve detalls of the Company. Its Trustees and advlser$ Tru$tees' report Independent auditorfs report on the financial statements Consolidated statemènt of Ilnanclal actlvitles 8-10 Consolldated balance sheet 12-13 Company balance sheet Con501idated statement of cash flows 14-15 16 Notes to the tlnancial statements 17-28
Docusign Envebpe ID.. 8F4934284E8F4EOC-9803-BC907044CFFS DEMENTIA RESEARCH UK (A Company Llmlted by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. rrs TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 OCTOBER 2023 Trustees W Liiybourn T Thompson L Bechelel J Runicles Company reglstered numb¥r 08236220 Charity reglst&red numbers 115143 and SC045615 Reylstered offlce 207 Regent Slreel Lonclon W1B3HH Company sècrétary W LaybDurn Indèpendènt auditor Cotsper Parry Group Llmlted statutory Akjdilor 178 Btjckingham Avenue Slough Berkshire SL14RD Bankers Unity Trust Bank 4 Brindley Place BiTmingham B12JB Soll¢itors Batos Wells 10 Queen Street Place London EC4R IBE Page 1
Docusign Enveknpe ID.. 8F4934284E8F4eoc-9B03-BC9D7044CFF5 DEMENTIA RESEARCH UK {A Company Llmlted by Guarantefr) TRUSTEES. REPORT FOR THE YEAR ENDED 31 OCTOBER 2023 The Trustees (who are also dire¢lors for Ihe purp(>ses of the Companies Ad 20081 present their report wllh the financial statsmenls of the Group for the year ended 31 October 2023. The Trustees have adopted the provisiDns of Accounting and Reporting by Charities.. Statement of Recommended PracliGe applicable to charities preparing their accounts in accordance with the Financial Raportino Standard applicable in tha UK and Republic ol Ireland IFRS 1021 leffe¢live 1 January 20151. Structure. governance and management Constitution The Company is registered as a charitable company limited by guarantee and was sel up by a Memomndum of Association on 2 October 2012. The Company is constituted under a Memorandum of Association dated 2 October 2012 and is registered with the Charity Commission number 1154143 and Scottish Charity Regulator SC045615. b. 14Jethods of Èppolntment or ele¢tlon of Tru8teo$ The management of th& Company is the responsibillly of the Trustees who are elected and co-opted und9r the terms of the Articles of Association. The Trustees who served during the perlod were as follows: W Laybourn T Thompson L B8ch81et Iresign8d 31 D8c6mbar 20231 J Runicles lappoinled 19 July 20231 M Evans (resigned 31 DeceTnber 20221 Objectives and acllvitlas a. Poll¢les and oble¢tlvos The Memorandum and Articles of AssDGiation defines the obj8cttves of thB Group.. To protect and promote the health of the public in particular by research into the nature. causes, diagnosis, prevention, treatment and care of all forrns of dementia. including the development of findings of research into the praclical appli¢alions for the prevention and Irealmenl of d¢m¥ntia and care of those suffering from dèmentia and in furthÈr8ncÈ of that pMary object, lo provide informatlon and ralse public awareness and understanding of such matters. b. Activlties undertaken lo achl•va obJa¢tlv98 The Group carries DUI these objectives by funding research related to the treatment and cure of dementia and related diseases. The research funded is both pure and applied. Pure research has the ultimate aim of eradicating Ihe dlsease whlle applled research Is aimed al Smprovlng the Ilves of those Ilvlng wlth dewnentla and their caTer8. c. Public bonefit The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Group's aims and objectives and in planning future activities. Page 2
Ducusign Enveknpe ID.. gF493428-4E8F4EOC-9B03-BC907044CFFS DEMENTIA RESEARCH UK IA Company Limited by Guarantee) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 OCTOBER 2023 Achlevements and performance a. Golng ¢oncern After making approprlale enqulries, the Trustees hav6 a re8SDnabl& expeclalSon that the Company has adequate resour$ to continue in operation21 existence for the foreseeable future. For this reason, thgy CDntinug to adopt th8 going concem basis in preparing the financial stalemenls. Further details regarding th8 adoption of th8 golng concBrn basls can be found In the ac¢ounling policies below. b. Revlew of activltTes In the financial year ending 31st October 2023, incomSng resources lolalled £1,048,256 12022 - £597,701) resLJlling from voluntary donations, legacies, and gift aid. Fundraising expenses lotalled £213.709 12022 £144,575) providing a surplus of £834,547 before governance costs of £21,647. A total of £653.944 was allocated to charitable activities Igranls £385,000) giving rSse lo a surplus for the year of £158,956. Adding this surplus to unreslrided funds brought forward of £305,207 provides the balance of unreslriclad funds ¢8riied fOard lotalling £464,183. The Group's grant[VIng programm8 The Group raises funds for rese8rch projects across the dementia community in all Tegions ol the UK. The Group's funding covers every type of dgmonlia, ralher than any individual disease. Consequently. the income ralsed by the Group can be allocated across a wd8 r8ng8 of r8s8arch proj8Cts in the damentia community where the Group's intention is to tnake a positive impact on as many people as possible who are living with any fomi of dementia, together with Ihelr families and carers, In funding resear¢h, tha Group racognisès the n8@d to undertakB pur8 research with the aim of alleviating and 8V8nlually eradicating the disease, but it also recognlstss tho needs of those living with dementia and the research needed lo improve the quality of thelr Ilves. Applied research, undertak8n lo halp those Dn thèlr damantia journey. is c8nlred on car6 8nd compassion. This type of research examines patterns of care in order lo meet appropriat8 and ever-changing ne8ds together with the use of relevant. up-lo-dale asBislive technology. Recent stalislics now place dementia among the leadino causes of death in the UK and th8 provision of 8nd.of- life care is 8 high priority for all concerned. The exienl. availability and c4)81 eff8CtiV8ne8s of such caro Is an unavoidable fiel(1 for dementia research in the UK. The Group's granl-giving programme currently supports largè-scale dementl8 mséareh pmjects within universities and hospitals. looking into new ways of diagnosing and tr8aling dementia and into the availability of end-of-life care for people with dementia. Thp Group also provides funds lo regional cenlres across th& UK which dèlivèr SeNices and support directly to peopl8 wilh dementia. while carrying out research with those wtrvj use their services lo further identify ngw foms of support. The Group is very specific in its identification of potential grant rècipients. Currently, applications for grants arè not actively sought. The Group carries out detailed research lo identify organisations operating in tho relevant flelds of pure and applled research, which adhere most olosely to the Group's objectives. The primary beneficiaries for the Group are those organisations which receive grants from the Group. Secondary beneficiaries are those who benefit from the research and servic95 provlded by the grant recipients, l.e., people wllh dementia, their famili?s and carers and the health professionals who support them. Purè rè5ear¢h The Dementia Research Centre at The Nallonal Hospital for Neurology and Neurosurgery has been Ihe principal recipient of the Group's grants for pure research. The work of the Research Cenlre, Situated within University College London, focuses on identilying the disease processes that cause dementia with a vlew to understanding the factors that influence thotse pro¢esses in Order lo find ways lo improve diagnosis and traalmenl. A grant of £100.000 has ba&n awarded for this year (2Q22- £100,000>. Pag8 3
DOSIgn Envelopp ID.. 8F4934284E8F4EOC-gB03-BC907044CFF5 DEMENTIA RESEARCH UK IA Company Limlted by Guaranteol TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023 A¢hlevements and perfomiance (continued} Applied research Applled research grants are made In reGognilion of the fact that Slgrsificant improvements In quallty of life can be achieved when peoplg wlth d8menlia are segn as having a number of partially remediable disabilities, rather than an ill-defined mix of irreversible cerebral incompeionde5 that Is so often assumed. A number of Dementia Services Development Centres IDSDCS) have been established which promotè this concept across the UK. The DSDC was originally developed at Slirling University and the Group has continued lo award grants lo this university to support DSDCS in Scotland and Northern Ireland IBelfast}. Grants for this year lo18lled £35,000 12022 - £20,000). A smaller grant of £2,500 was awarded lo SliHing's Dementia Services Development Trust (2Q22- £2,500). The DSDC in England, Tront D¢menlia, has been awarded 8n annual grant of £50.000 in 202312022- £40,000) and the DSDC in Wales al Bangor University has been awarded £22,50012022 - £10.0001- The DSDCS are active in the provision of services, advi, social and practical support and events. They also undertake r8sgarch, conlred on the needs of people with dementia, the re8ulls of which are u%Éd lo devekjp new and innovglive services. Through Ihair r8s8arch and ongoing conversations with people with dementia. their families and carers. the DSDGS are wBII-posllloncd lo uncover areos of unmet need. The Group's role lft supporting the DSDC network enables the Group to help improve the day lo day Ilves of people wilh demenlia and lo identify the services and sUPPOrt they may need in the future. The Research Inslilule for the Care of Oldor Poople IRICEI is an inlernalionally renowned dementia research and treatment centre located al the Royal Unlled Hospital in Bath. RICE is an indep9ndenl organisation which delivers essonlial resear¢h into dementia and provides support for pwple living with dÉmanli8. Although RICE'S resaarch focus is prirnarily on dam&nlia, the Insb'lule also investigates other chronic conditions Df older ag6 in order lo understand their connections to dementia and the increasingly complex needs of a growing. agelng population. A grant of £25,000 was awarded to RICE in 2023 {2022- £10,QOOI. End.of-life c4re Dementia is arnong the leading causes of death in the UK bul th8 8xl8nl and availability of end-of-life care for d8m6ntia patients is variable and inconsislenl. The imprecise boundaries of health and social care can be Pgrplexing lo patients, carers and their families whan seeking help at crltlcal times. The funding of 6nd-of-lrfe dre can also vary between reglons and health ¢are providers. adding to an already confused plclure. The Cicely Saunders Institute based at Klngs Colloge London is 8 centrè for rèsaarch into the provision of end-of-life cara in the UK. A grant of £100,000 has been awarded lo the Institute {2022 - £100,000) lo assess the cost and availabilily of end-of-lifg care for damentia patients, together wllh the potential for improving access to such care throughout the UK. Naw grant rocipi8nt5 The Group raviewed ils grant-making progrdmme in late 2022, with a view to Identing polenllal new grant reclplenls. The objecllves were lo pinpoint new organisatlons which fil the GTOUP'8 crlterla of conduding pur8 or applied research, bul which also provided opportunities for the Group to extend ils granl-making impact into new areas of dementia Tesearch or Into new regions of the UK. Four new organisalions were identified which matched th6 Group's grant-making objectiv85 and which subsequently 8pIed the Group's offer ol funding, as desGrlbed below. The research carrled out by the Againg and Dementia Research Cenlre {ADRCI al Bournemouth University falls into three broad categories.. dgv61oping ageing and dementia-friendly environments, nutrition and wellbe1ng, and a¢livity and social inclusion. The rese8r¢h carried out al the ADRC significantly impacts on theory, education and professional practice relating to demsnlia. and the research team has developed a number of resources to guide families, carers, and healthcare professionals on how best lo help people wlh éemonlia. A grant of £20,000 was awarded lo the Centre in 2023. Page 4
D(KusEgn Envebpb10.' 8F49342B-4EeF4E(-9Bo3-c907o44CFF5 DEMENTIA RESEARCH UK IA Company Limited by Guarantee) TRLISTEES. REPORT (CONTINUED} FOR THE YEAR ENDED 31 OCTOBER 2023 Achievements and performance {continuedl Dementia Prevention UK is a registered charity which provides educatlon to men, women and children from undsrserved wrnrnunilie5 on demonlia Tisk factors and practical tools lo prevent or delay dementia through lifestyle modificallon. Their innovative searCh and workshop programme5 focus on how behaviours can impact the brain, and on the measures which Individuals can lake to malnlain braln health and protect the brain. A grant of £10,000 was awarded lo Dementi4 Pr8venllon UK In 2023. Music for my Mind Is a registered charity which promotes the use of personalised music as an effective Iherapy for people who are living with dementia. Their research inv6slig8t8s how music can impmva tha wÈllbeing of people with dementia and help to relieve anxiety and depression. The charity has developed ¢)ew technology which enables personalised playlis18 to be cted quickly and easily, based on an individual's background and musical preferÈn¢es. for use wilhln a care home or an individLEal's own home. A grant of £10,QOO was awarded to Music for my Mind in 2023. M8mory M81ters Is a Communlty Interest Company that has been managlng prolecls and servlces for peopl8 with dementia for over 12 years. A Memory Matters Hub provides advice and praclical support for anyone concerned about memory loss or dementia. Memory Matters offers Cognitive Stimulation Therapy ICSTI to help those living with dementia to improve Iheir ¢ognitive abilities and quality of life and has dev8loped the first CST e-group thgrapy app, which can be used d1cl1Y by someone who has dementia. A grant of £10,000 was awardod to Memc>ry Mattèrs In 2023. Group websltè The Group launched Its now w6bsito in January 2023. The key objectives of the new website are lo showcase more detalled Information about the impael of th8 Group and thè scope of ils granl-giving programme, whilst also providing users with access lo expert resources about dementia in order lo support the Group's staled objective 'to provid6 informatlon and fdiS8 public aw8rèn8ss and understanding of dementia,. Detailed informallon Is provlded about all of tha Group's grant reclpienls and the work undertaken. The Group now also benefits from enhanced user analytlcs whlch have been establtshed for the new webslle, helping lo direct future conlenl and funclionglity. Throughout the ¢Durso of 2023, enhancements were made to Ihg new website, including the introduction of a Blog to present conlenl from expert conlribulc>rs, tha creation of a new 'Donale' page designed to make il as easy as possible for donors to donate through a variety of online and offline channels and the introduction of measures to improve the website's search engine oplimisalion or SEO. The website will ¢onlinue lo be eveloped throughout the course of 2024 to help dellver new Income streams for the Group, Induding the launch of ils onllno storo. Trading company In November 202Z, the Charty 6St8blished a tradlng company, Dementia Rosearch Tradlng Limited. lo manage ils futur8 trading operations. Page 5
Ducuslgn Env@IopB ID.. 8F49342B4E8F4EOC-9B03-BC907044CFF5 DEMENTIA RESEARCH UK (A Company Llmlted by Guarantse} TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2023 Financial review and future plans The Trus1605 arg salisfi¥d with Ihe financlal position at the year ended 31st October 2023 and the 17nanaal performan described above. a. Rasory&$ pollcy The Trustees review rèservès regularly in order lo ensurè that the Grtsup is in a position to meet all ils current and anlicipaled future commitments. Reserves are defined as that part of a Group's unreslricled funds that is felY available lo spend on any of the Group'8 purposes. As a matter of policy, reserves are held in order lo cover six months of anticipated expenditure whenever possible. As of 31st October 2023. reserv&s 01 £464,000 were held represenllng approxlmaloly slx months of anlicipaled expenditure in the year ahead. In comparison. at 31st October 2022 reserves of £305,000 were held ropresenting five months of actual oxpendiluro tolalling £800,000 in the year under review. The Group does not awaid grants for a period greater than twelve months and it only awards grants which are covered by available reserves. The minimum lev81 of reserves that the Group requires lo meet its commitments and conllnu8 lrndlng Sn any e1ve month period is eslimateé at £250.000. b. Plans for the future The Success which the Group has seen in 2023 In tfjrms of ils fundraising returns will form the basFS of ils activity in 2024. The webslte will be further developed lo maximlse Income and us8r engagament and the careful use of new data to largel priority prospects will continue. The Group will b¥Jild on its relationships with ils grant recipients via naw contant collabDralions for th8 Website together with new joint promotional and other fundraising activities. Thg Group conllnu8s to onsure that Ihg prolecls it pursues are realistic. sustainable. and have maxlmum Impact at minimum CDSI, whilst ansuring that fundraising activity and the income that fundraising generates, is not disrupted. The Trustees do not anliThpale any signifiBanl changg lo the ¢osl of external resources required to support the current aclivilles tsf th8 Group. All the projects are managed in-hous8, with axlsrnal résourcas only being brought in where it is critical lo the success of the project. Any additional resource r8quired to 8UPPOrt the Group's new fundraising strategy will be kept to a minimum and will be subject lo careful tendering and review processes. All the necessary insurances and legal obligations lo support the Group's current activities ar8 in placo and the Group has Conducted a full risk analysis of its operation. Any addilional requirements for new projècts wlll be PLtI Sn plac8 as thè r818vant projacls ara impl8m8nlèd. Small company prov151ons In preparing this report. the TTUStees have taken advantage of Ihe small companles exempllons provided by section 415A of the Companles Act 2006. structuraj govèrnance and managemant Governlng document The Group is controlled by ils governing document, a deed of trusL and conslilutes a limlted company, limited by guarantee, as defined by the Companles Act 2006. Pag8 6
Docusign Envelope ID.. 8F493428.4E8F4EOC.9803-8W7044CFF5 DEMENTIA RESEARCH UK {A Company Llmlted by Guarantee) TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 OCTOBER 2023 Events slnce tho end of the year Information relalillg lo events since the 8nd of the year is given in the nolB8 to the financial slalements. statement of Trustees. responslblllties The Truste?s (who are also the directors of the Company for the purprjses of company lawl are responsible for preparing the Trusteés, report and IhÈ financial slalèmÈnls in accordanc6 with 8pplicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accauntlng Practice}. Company law requires the Trustees to prepare financial slatementg for each financial year. Under company law, the Trustees must not approve the financlal statements unless they are satisfied that they give a true and fair vlew of the slate of affairs of the Group and the Company and of their incoming resources and application of resources. Including their income and expènditure, for that perlod. In pparIng these financ(al ststements, the Trustees are required lo.. select suitable accounting policies and then apply them consi$tenlly- observe the methods and principles of the Charities SORP IFRS 102)., make judgements and accounting estimates that are reasonable and prudent., stale whether applicable UK Accounting Standards {FRS 1021 have been followed, sublècl to any material departures disclosed ancl explained in the financial slalements., prepare the financial statements Dn the going concern basis unless il is Inappropriate lo presume that the Group will continue in business. The Trust86s are responsible for keeping adequ818 accounting records th81 arg sufficient lo show and explain the Group and the Companys transa¢lh)ns and disclose with reasonable a¢¢ura¢y al any lim8 th8 finan¢i81 position of the Group and the Company and enable them to ensure that the financial ststements comply with the Companies Act 20D6. They are also Tesponsible for safeguarding the assets of the Group and the Company and h8nc8 br taking rèAsonabl8 staps for thé prèvèntion and dalection of fraud Bnd other Irregul8rilles. In so far as Ihg Trustees are aware: there is no relevant audit information of which the Group's auditor is unawarg, and the Trustees havg taken all the steps that ought to have been taken as Trustees In order lo be aware of any relevant audit information and to establlsh that the Gioup's audllor Is awar8 of that Inform811on. Audltor The audit business of Halnes Watts was acqulred by Cooper Parry Group Limlted on 14 Nov8mber 2023. Haings Watts has resigned as auditor 2nd Cooper Parry Group Limited has been appointed in ils place. Tha auditor, CoDpor Parry Group Llmited, has indtcated his willingness to continue in office. The designated Trustees wlll propose a mollon reappolnling the auditor at a meeting of the Trustees. Approv8d by ord8r of the metnbers of the board ofTrusleg3 and signed on their behalf by.. Duw¥lgllodty'. sb 4I6F562 oe5MBB.. TThomp50ll Secretary Date., 29 Jul y 2024 Page 7
Ds1On Envebpe ID.. 8F4934284EeF4EOC-9B03-BCg)7044CFF5 DEMENTIA RESEARCH UK IA Company Llmltfrd by Guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF DEMENTIA RESEARCH UK Opinion W8 havè audiled the financial Statemen of Dementia Research UK (the 'parenl charitable companJll 8nd ils subsidiaries Ilhe 'GrDiSP'I for the year ended 31 Oclober 2023 which comprise the ConsDlidaled statement of financial activities, the Consolidated balance sheet, the Company balance sheet, the Consolidated slalement of cash flows and the related notes, irbduding a summary of significant accounting poliGle8. The financial reporting framework that has been applied in their preparatlon is applicable law and Unlted Klngdom Accountlng Standards, includlng Flnancial Reporting Standard 102 'The Financial Reporiing Standard applicable In the UK and Republlc of Ireland, Iunlted Klngdom Generally A¢cepted A¢¢ounling Praclicel. In our opinlon the financial slalements: give a true and fair view of the state of the Group's and of the parent charilablu companws affairs as at 31 October 2023 and of the Group's Incoming resouT¢es and application of resources, including ils income and expendlture for the year then erided.. have been properly prepared in accordance wth United Klngdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requirements of the Charities Act 2011, the Charities and Trusteg Investment (Scottandl Act 2005 and regulations 6 and 8 of the Charilles Accounts Iscolland) Regulaliorks 20D6. Basls for oplnion We conducted our audit In accordance wSlh Inlematlonal Standards on Audlling {UKI IISAS IUKII and applicable law. Our responsibilities under those standards are furtheT described in th& Auditor's responsibilities for th& audit of the financial statements section of ou¥ report. We are independent of th8 Group in accordance with the glhlcal requirements that are relevant lo our audit of the financial slalements in the United Klngdom, including the Financial Reporting Council's Ethical Standard, and wa hAV8 fulfillad our other ethical responsibilities in accordance with these requirements. We believe that the audit gvldgnce we havo oblalnod Is sufficient and appropriate to provide a basis for our Dplnlon. Conclusions rÈlating to going concern In audltlng th8 financ181 stalemenls, w8 have concluded that the Trustees, use of the going concern basis of accounting in the preparation of the financial statoments18 appropriate. Based on the work we have performed, we have not identified any material un¢ertainlles rel81ing lo evants or conditions that, individually or coll&clively, may cast significant doubt on the Group's or the parent chaTitable companvs abillty lo continue as a going concern for a p$riod of al least tsv8lv8 months from when th8 financial sta18ments are aulhorised for issue. Our responslbililies ané the responsibilities of the TTUSt8es wth rpspecl to golng concgrn arb des¢rfbed in the relevant seolions of this report. Page 8
Ducusign Envplopp ID.. 8F493428-4E8F4EOC-9B03-BC907044CFF5 DEMENTIA RESEARCH UK (A Company Limited by Guarantee} INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF DEMENTIA RESEARCH UK ICONTINUEDI other Infomiatlon The other information comprise$ the information included In the Annual r8POrt other than thè financial statements and our Auditor's report Ihereon. The Ttuslees are responsible foi the other information contained within the Annual report. Our opinion on the financial slalements does not cover the other information and, except to the exlenl olhenNise explicitly staled in our report, we do not express any form of assurance or ¢onclusSon Ihereon. Our responslbillly 1$ lo read the other information and, in doing so, consider whether the other Inlormallon Is materlally Inconsistent with the financlal sl8lements or our knowledge obtalned In tho cours of the audit, or otherwise appears to be materially misstated. If we identify such malerlal Inconslslencies or apparent material misstatements, we are required lo determine whether this gives rise lo a material misslatemonl in the financial slalemenls Ihemselves. If, based on the work we have perfDrmed, we conclude that there is a material misstatement of this other information, we are required lo report that fact. We have nothing to report in this regard. atters on whlch we arè rÈquired to report by exception We have nolhlng io report In respect of Ihe followlro mallers where th8 Charltios (Accounts and Roportsl Regulations 2008 and the CharStles Accounts {Scotlandl Ragulalions 2006 las amended} requires us to report to you if, in our opinion= the information given in the Trustees, report is Inconslstent in any matedal respect wlth the flnancial statements,. or the parent charitable company has not kept 8uffici8nl and proper accounllng records.. or the pargnt challlable company financlal statements arè not in agreement wlth the accounting records and returns.. or we have not received all the information and explanations we raquire for our audiL Responsibllities of Trustees As gxplained moro fully in thè Truste&s' responsibilities slalem8nl, the Trustees {who are also the directors of the charitable company for the purposes of company lawl are responsible for the prepar8lion of the financial slalements and for being satisfied that they give a true and fair view. and for such internal control as the Truste&s d8tarmin8 is nacessary to 8n8bl8 th8 prèparalion of financial statements that are frBe from material misslatemenl, whèther due to fraud or error. In preparing the financlal sta19ments, tho Truslggs arè responslblo for ass&s$lng the Group's and the parent oharilable companls ability to continue as a going concern. disclosing, as applicable, matters related to going concern and using the going concern basis of ac¢ounling unless the Trustees either intend to liquidate the Group or the parent charitable company or lo cease opérations, or have no raalislic altemative but lo do so. Auditor's responslbllltles for the audlt of the flnanclal statements We have b8en appointed as auditor under section 151 of the Charilles Act 2011 and secllon 4411)Ic) of the Charities and Trustee Investment (ScDllandl Act 2005 and report In accordance with the Act and relèvant regulalionb mad8 or having elfecl Ihereunder. Our objectyves are to Dbtain &SOnable assurance about whether the financial statements as a whole ar2 free from matèri81 misslalèmenl, whether duo lo fraud or error, and to issue an Auditor's report that includes our opinion. Reasonable assurance Is a hSgh level of 8ssuran¢e. bul is not a guar8nte8 that 8n audit conducted i accordance with ISAS IUKI will always deleGI a material misslalemenl when it exists. Misstslomenls can arise from fraud or error and are considered material if. individually or in the aggregate. they could reasonably be expected to influence thè econornic decisions of users taken on the basis of these financial slatemenls. Pag8 9
Docusign Envelope ID.. 8F49342PAE8F4EOC-gB03-BC907044CFFS DEMENTIA RESEARCH UK IA Company Limited by Guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF DEMENTIA RESEARCH UK ICONTINUEDI Irregularities. indtsdlng fraud, are Inslancos of non-compllance wllh laws and regulations. We de8ign prOdre$ in Ilne with our responsibilities, outlined above, to detect materlal mlsstatements in respect of irregul8rit19s, induding fraud. The extent to which our procedures are Gapabl8 of deleGling irregularilies. including fraud is detailed below.. We gained an understanding ot the legal and regulatory fFamework applicable lo the rnPany and Ihe Industry in which il operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, Including fiaud, Wo discussed with the directors the policies and procedures In place regardi compllance w]Ih laws and regulations. We discussed amongst the audit team the identified laws arK£ regulations. and remained alert lo any indications of non-¢omplianco. During the audit we focussed on laws and regulations which could reasonably bo expected lo give ri88 to a material misstatement in the financial slalamants, including, bul not limited to, the Companies Act 2006 and Charities Act 2011. Our procèdures in r8laliDn to fr8ud. Induded bul were not limileLt to= enquiring of management whether they have any knowledge of any actual, suspected or alleged fraud, and discusslons amongst th8 audll team regarding risk of fraud such as opportunities for ffaudulonl manipulation of financial statements.. review of meeting minutes.. and using analylical procedures lo Identify any unusual or unèxp8Ct8d relationships. We also addressed tre risk of m8nag8rnent override of internal controls. including lesling journals and evaluating whether there was evldoncg of bias by the directors that represented a risk of material misst8lèmenl du8 10 fraud. Our lesls Included agreelng the flnanci81 statement disclosures to underfying supporting documenlallon. Because of the Inherent limitations of an audit, there is a rlsk that we 11 not detect all irregularities, includlng those leading to a material misslatemenl In the financlal statements or non-complianc8 with regulation. This risk increases th8 mora that complianc8 with a law or regulation is removed from th8 ovenls and transactions reflectgd in the financial slalomonls, as we will be less likely lo becoma awar8 01 instances of non-compliance. The risk is also greater regarding irregularities occurring due lo fraud rather than erroT. as fraud involvgs intentional concealment. forgery. collusion. omission or misrepresentation. A further des¢ription of our responsibilities for the audit of thè financlal statements Is located on the Flnancial Reportlng Council's website al.. wwN.frc.Dr .ukJaudilorsres onsibililies. This description forms part of our Auditorfs reporL Uso of our raport This report is made solely lo the chaiilable companls Trustees. as 8 body, in accordance with Part 4 of the Ch8rilies {Accounls and Reports) R&gulat40ns 2D08 and regulation 10 of the Charilles Accounts IScoll8ndl Regulations 2006. Our audit work has been undertaken so that W6 might slate to the charitable companls Trustees those matters we are required lo stale lo them in an AudllDr's report and for no other purpose. To the fullest exlenl permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and ils members, as a body, for our audit work. for this report, or for the opinions wa havo formod. Coopèr Parry Group Limited Slalulory Auditor 178 Buckingham Avenue Slough Berkshlre SL14RD Date.. 2910712024 Cooper Pary Group Llmlled are ellgible lo act as auditors in term8 of 8ecllon 1212 of the Companies Ael 21M)6. Page 10
Dogn Envebpe ID.. 8F4934284E8F4EOC-9B03.Bcg07044CFFS DEMENTIA RESEARCH UK IA Company Llmlled by Guarantee) CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 OCTOBER 2023 Total funds Charity only 2022 Unrestricted funds 2023 Total funds 2023 Note IncoTne from: Donations and legacies 1,t)48,256 1,048,256 597,701 Total Income 1,048,256 1.048,256 597,701 Expenditure on: Raising funds Charitable aBtivi11&s 213,709 675,591 213,709 675,591 144,575 385,324 Total expgndituro 889,300 889,300 529,899 Net movement In funds 158,956 158,956 67,802 Reconclllatlon of funds.. Total funds brought fonmard Not movomenl in funds 305,207 158,956 305,207 158,956 237,405 67,802 Total funds carried forward 464,163 464,163 305.207 The Consolidated statement of financial aGlivilies includes all gains and losses recognised in the year. The notes on pages 17 10 28 form part of these financial statements. Page 11
Docusign Envelope ID.. 8F4934284E8F4EOC.9B03.BC907044CFFS DEMENTIA RESEARCH UK A Company Llmited by Guarantee) REGISTERED NUMBER: 08236220 CONSOLIDATED BALANCE SHEET ASAT 31 OCTOBER 2023 2022 Charlty only 2023 Noto Fixed assets Current a55ets DebloTS 12 42,970 542,302 35,806 324,602 Cash at bank and in hand 585,272 360,408 Creditors.. amounts falling due within one year 13 {121,10SI 155,201) Net current assets 464,163 305.207 Totsl ass&ts less current Ilabllltles 464.163 305,207 Total net 8s8ets 464,163 305,207 Charlty funds Reslricled lunds Unreslriclgd funds 15 15 464,163 305,207 Total funds 464.163 305.207 Page 12
Do19n Erwelope ID.. 8F4934284E8F4EOc-9BO&BCj7o44CFF5 DEMENTIA RESEARCH UK IA Company Llmited by Guar#nteel CONSOLIDATED BALANCE SHEET ICONTINUEDI AS AT 31 OCTOBER 2023 The Company was enlltled to exemption from audit under secllon 477 of th6 Companles Act 2006. The members have not required the entity to obtain an audit foT the year in quesllon in accordance with section 476 of the Companies Ad 2006. However, an audil is required in accordance with s@clion 151 of the ChaTilies Act 2011 and sedion 441111¢} of the Charities and Trijstee Investment (Scotlandl Act 2005. The Trustees acknowledge their responsibilits'ès for Complying with the r8quirém6nts of the Act with respect to accounting record5 and preparation of finaFicial slatemenls. The financial slalements have been prepared accordance wilh the provisions applicable to enlilies subject tu the sma11 companies regimg. The financial statements were approved and authorlsed for issue by thè Trustees and signed on their beh8W by.. oiu8L4n•d by.. 448FgB2 D69e4B8... T Thompson 29 July 2024 Date.. The notes on pages 17 to 28 form part of these financial stalemenls. Page 13
Docu$i9n Envdq)e ID: 8F493428-4EBF4EOC4B03-BCP07044CFF5 DEMENTIA RESEARCH UK IA Company Limited by Guarantefrl REGISTERED NUMBER.. 08236220 COMPANY STATEMENT OF FINANCIAL POSITION AS AT 31 OCTOBER 2023 2023 2022 Note Flxed assets Investments 11 100,002 100,002 Current assets Debtors Cash at bank and in hand 12 42,835 519,930 35,808 324.602 562.765 360,408 Creditors.. amounts falling due wilhln ono year 13 1108,6501 155.2011 Ntst current assets 454,115 305.207 Total assgts less current Ilabilities 554,117 305,207 Total net assèts 554,117 305.207 Charlty funds Reslricl8d funds Unreslricled ftjnds 15 15 554,1 f7 305,207 Total funds 554,117 305.207 P2g6 14
Do¢uslgn Enyebpe ID.. 8F493428-4g8F4EOC-gB03-BC907044CFF5 DEMENTIA RESEARCH UK IA Company Llmited by Guarantee) COMPANY STATEMENT OF FINANCIAL POSITION {CONTINUED) AS AT 31 OCTOBER 2023 The Companys nel movement in funds for the year was £248,910 {2022 - £67,802}. The Company was trnlilled to examplion from audit under secllon 477 of the Companies A¢1 2DO6. The members have not required the entity to oblain an audit for Ihe year in question in accordance with secllon 476 of Ihe Companies Act 2006. However, an audll Is requlred In accordance wlth section 151 of the Charities Act 2011 and $o¢lion 4411llcl of the Charities and Trustee Investmènt (Scolland) Act 2005 The Trustees acknowledge their responsibilities for complying wllh the requlrements of the Act with respect to accounting records and prepar81ion of financial statements. The financial statèments have been prepared in accordance with the provisions applicable lo entillos subject to the small Gompani8s regime. The financial statements were approved and aulhorised for issue by the fruslees and 8lgned on Ihelr behalf by.. po¢usiw*d by.. 448F$02 089ts8e.. T Thompson 29 July 2024 Dalg.. The notes on pages 17 to 28 fomi part of these fin8r¥cial sl8tèm8nts. Page 15
DuCU Erweknpe ID.- 8F4934284E8F4EOC-9803-BC907044CFFS DEMENTIA RESEARCH UK IA Company Llmlted by Guarantee) CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 OCTOBER 2023 2023 2022 Cash flows from operating activities Nel cash used in operating activities 217,700 86,809 Change In cash and cash equlvalent5 In the year Cash and cash equivalents al the beginning of the year 217.700 86,809 324,602 237,793 Cash and cash equlvalents at tho ond of thè y88r 542.302 324,602 The notes on pages 17 to 28 fomi part oflhese flnancial statements Page 16
Docusign Envelope ID.. 8F493428-4EaF4EOC-9803-BC907044CFFS DEMENTIA RESEARCH UK (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023 Genèral Infomiatlon Dernenlia Research UK is a private Company, Ilmiled by guarantee. incorporated in England and Walps 1082362201. The principal address of the Group is 207 Regent Sleet, London, W1B 3HH. Accountlng pollcles 2.1 Basls of preparation of financlal statements The fin8n¢i81 st8tementS are prepared in Sterfing {£) which Is the functlonal currency of the Charity. The firiancial slalements are for the year ended 31 October 2023 12022., year ended 31 October 20221. Tha financial statements have baen prepared in accordanc8 with the Charities SORP IFRS 1021 Accounting and Reporting by Char(ties'. Ststement of Recommonded Pra¢li¢e applicable lo charities preparing their accounts in accordance with the Financial Reporting Sland8rd applicablè in th@ UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191, the Financial Reporting Standard appll¢able In the UK and Republic of Ireland {FRS 1021 and the Companies Act 2006. Demenlla Research UK meets the definlllon of a public benefil entity und8r FRS 102. Assets and li8bilili@s are initially recognised at historical cost or transaction value unless olh8rwiso slal&d in tho r6levanl accounting policy. Oll 1 Novembèr 2022 the chalily established a Ir8ding company, Dèm8nli8 Research Trading Limited, lo manage ils future trading operations. Th8 Consolldaled slalement of financial activities ISOFAI, Consolidated balance sheet and the nolgs to the financial statements for th6 ¢urrènl year consolidata the finanal statements of the Company and its subsidiary undertaking. The results of the subsldlary aro consolSdatcd on a line by line basis. Th8 comparative figures shown in Ihg Gonsolidated Statement of financlal a¢tivilio¥ ISOFAI, Consolid818d balance sheet and the Mles lo the financial slalenenls represent the position and performanco of the Company only, as the only Group member in the pr(or year. The Company has taken advantage of the exemption allowèd under sectlon 408 of the Companios A¢1 2006 and has not presented its own Statement ol financial activities in these financial statemen15. The panI charfly made a profit of £248,910. 2.2 Golng concern The financial 5talom8nls havo been prepared on a going concern basis. which assumes that the Company will continue in oper81ion81 exislènc8 for the for8s8aabl@ futLJre which the Trustees believe to be appropriate. Tho Charity Gonlinues to be able to reassurg ils donoTS, bgneflclarfes and stakeholders that the a¢livily al th6 core of its fLJndraising is stable and sustainable. and that it is well placed to meet ils objectives and lo support its beneficiaries. 2.3 Gompany status The Company Is a company Ilmiled by guarantee. The members of the Cornpany are the Trustees named on page 1. In the event of the Company being wouncl up, the liability in respect of the guarantee is Ilmited lo £1 per member of the Company. Page 17
DoGusign Envdope ID.- 8F493428-4E8F4EOC-gB03-BCW7044CFF5 DEMENTIA RESEARCH UK IA Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023 A¢countlng pollcle$ {contlnued) 2.4 Income All income is recognised once the Cotllpany has enltuemenl lo the income, it is probable Ihal the income will be received and the amDunl of income re(Eivable can be measured reliably. The recognition of Income from legac1es is dependent Dn estsblishlng enlillement. the probability of receipt and the ability lo esllmate wllh sufflclenl accuracy the amounl receivable, Evidence of 8nlillement to 8 legacy exists when the Company has sufficient evidence that a glft has been left lo them Ilhrough knowledge of the existence of a valid will and the death of the benelaclor) and the executor is satisfied th21 the property in qtjestlon will not be rBquired lo satisfy claims in the estate. Receipt of a legacy musl be recognlsed whon il is probable Ihal il will b8 received and the fair value of the amount receivable. which will generally be the expected cash amount lo distributed lo the Company, can be reliably n*asured. Other income is recognised in the period In whlch it Is re¢elvable and to the extent the goods have been pmvidBd or on complellDn of the 8èrvlce. 2.5 Expendlturo Expenditure is recognised once there is a leg81 or conslru¢llvè obllgation lo transfer economi benefit to 8 third party, it is probable that a transfer of economic benefit will be required in selllement and thè amount of th6 obligation can be measured reliably. Expendlture Is class1fied by activlty. Th costs of each activity are made up of the total of dired costs and shared costs, including support costs involved In undgrtaking each activity. Direct costs allribulablè to 8 singl8 activity are allocated directly lo that activity. Shared costs which contribute lo more than one activity and support cos which are not altributsble lo a single Bctivity are apportioned between those activities on a basis consistent with the use of r8sources. Cgntral staff costs are allocated on the basis of lime sp9nl, and depreciation charggs allocatèd on the portion of the 8ssel's use. Expendilurg on raising fvnds include5 all expenditure Incijrred by the Group lo ralse funds for tts charitabl6 purposes and Includes costs of all fundraising 2clivilies. events and non-charftable trading. Expenditure on ¢harilable aclivilies is incurred on directly undertaklng the aclivili8s which furthèr the Group's objectives, 8s w811 as any associated support costs. Grants payable are charged in th8 year wh8n the offor is made except in those cases where the offer is conditional, such grants being recognised as expendiluro when the conditions attaching are fulfilled. Grants off8rad subject lo conditions which have not been mel at the year 8nd ar@ noted as a committnenl, bul not accrued as exp&ndilura. All expenditure 15 inclusive of irrecovgrable VAT. 2.6 Taxatlon The Company is consldered to p8SS the tests set out in Paragraph I Schedule 6 of the Flnanc8 Act 2010 and therefore it meets the definition of a charllable company for UK corporation lax PUTposes. Ac¢or(Jingly. the Company is potentially exempl from taxation in resp8¢1 of in¢ome or capital gains raceiv8d within cal6go¥ies covered by Chapter 3 Part 11 of the CorpoTrlion Tax Act 2010 or Section 256 of th? Taxation of Chargeable Gains Act 1992, to the exlenl that such income or gains are applied excluslvely to charitsble puiposes. Page 18
t>ocuslgn Envelope ID: 8F49342B-4E8F4EOG-9B03-SG90Y044¢FF5 DEMENTIA RESEARCH UK (Acompany Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023 Accountlng pollcles (continued) 2.7 Investmènts Fixed asset investments are an amount equal lo the capital contribullon provided trj the Iracling subsidiary lo conliibute towards ils working capital and trading aclivilies. Investments in subsidiaries are valued at cost less provlslon for ImpaSrment. 2.8 Debtorts Trade and other debtors are recognised al the settlement amount 8fter any trade discount offered. Prepayments are valued al the amount prepaid net of any trade dlscoL¢nls due. 2.9 Cash at bank and In hand Cash at bank ènd in hand Includes cash and 8hort-lerm hlghly Ilquld investments with a short malurlty of thro9 months or less from the dale of acquisllion or openlng of the deposit or similar ac(x)unl. 2.10 Llabllltles and provlslons Llabllltles Sre recognised when there Is 8n obligation al the Balance sheet date as a result of a past event, it is probable that a transfer of Èconomlc banefil will be required In settlement, and the 8rnounl of the settlement can be eslimaled reliably. Llabililies are récagnis8d at tha amount that the Company anticjpates it will pay to settle the debt or the amount il has received as advanced payments for the goods or services it musl provide. Provlslons are measured al the best eslimale of the amoL¢nts required to s&lU8 thè obl9110n. Where the affect of Iha lim8 valua of money is material, th& provision is bas8d on the prtrsenl value of those amounts, discounlod al the pre-tax discount ral& that Teflecls the risks specific lo the liability. The unwinding of the dlscounl Is recognSsed In the Consolldaled slalement of financial aclivilles as 8 finance cost. 2.11 Flnancial in5trurnents Financial assets and liabilities are recognised In the bal8n¢B sheet when the Company becomes a party to thè contractual provisions of the inslrumenl. Trade and other debtors and Creditors ara classified as basic financial instruments and measured al Initial r8cognition al transaction price. Debtors and creditors are subsequently rneasured at amortised cost using the effoclive irileresl rale method. A provislon Is eslablishod when there is objectfve evldence that the Compariy wll not be able to collgct all amounts due. Cash and cash oquivalents are Classified as basic financial instruments and comprisé cash in hand and at bank whlch are integral parts of the Companls cash management. Flnan¢lal liabilities and equity Instruments Issued by the Company are classlfled In accordance with the subslanc@ of the coiilraclual arrangernents entered Into and the definitions of a financial liability and an equity inslruménl. An equity instrument is any contract that evidences a residual interest in the assets of the Company aftor deduding all of its liabi1I1ies. Equlty Inslrum8nts issued by the Company are recorded al the proceeds received, nel of direct issue costs. Page 19
Docusyn Envelope ID,. 8F4934284E8F4EOC-9B03-BC907044CFFS DEMENTIA RESEARCH UK {A Company Llmited by Guarantoel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023 Accountlng pollcles (contlnued) 2.12 Pensions The Group operates a d&fined contribution pgnsion scheme and th8 pension charge repres8nts the amounts payable by the Group lo the fund in respect of the year. 2.13 Fund aecountlng General funds are unrgstricled funds which are available for use al the discretion of the Trustees in furiherance of the general objectives of the Gr(xJp and which have not bgen designated for olhgr purposes. Reslricled funds are funds whlch are to be used in accordence with specific restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and adminSsterSng such funds are charged against the $peclfi¢ fund. The aim and use of each reslrlctsd fund is set out in the notes lo the flnar)clal statements. In¢omg from donatlons and legocles Total Total funds funds Charlty only 2023 2022 Unrestrlcted funds 2023 Donations 357,070 691,186 357,070 691.186 291,905 305.796 Lagacias 1,048,256 1,Q48,256 597,701 All income from donations and legacies in the prior year was unrestricted. Expendituro on ralslng funds Costs of ralslng voluntary Incoma Total Total funds funds Charlty only 2023 2022 Unrestricted funds 2023 Direct MBII costs 168,998 168,998 144.575 Page 20
Docusiw Envelope ID,, 8F493428-4E8F4EOC-9803-BC907044CFF5 DEMENTIA RESEARCH UK A Company L¥mited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023 ExpÈndlture on r8lslng funds {continu•dl Fundralslng trading expenses Total Total funds funds Charlty only 2023 2022 Unrestricted funds 2023 Wages and salaries Soclal securlly costs Pension costs 37.243 4,068 3,400 37,243 4,068 3,400 44,711 44,711 Analysis of grant$ Total Total funds funds Charlly only 2023 2022 Grants to Institutions 2023 Charitable actniilies 385,000 385,ClOO 282,500 Analysis of 8xp8nditura by actlvltles Activities undertaken dlrectly 2023 Grant lundlng of activltles 2023 Total Total fund$ funds Charlty tsnly 2023 2022 Support costs 2023 Governance oosls 21,647 51,108 21,647 653,944 31,303 354,021 Charitable activities 217,836 385.000 217,836 385,000 72,755 675,591 386,324 Page 21
Docuslgn Enveknpe ID.. 8F4934284E8F4EOC-9B03-BC907044CFF5 DEMENTIA RESEARCH UK IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023 Analysis of expenditure by activities Icontinuedl Analysis of direct costs Total Total funds funds Charlty only 2023 2022 staff costs Eéucallon Sundries 44,711 168,999 4,126 16,064 3.294 217,836 19,358 Analysls of 5UPPOrt costs Totsl Total funds funds Charity only 2023 2022 GovErnance costs 2023 Charitable activities 2023 Other Finance 47.990 3,118 47,990 3,118 21,647 49,905 2,258 31,303 Govarnanca costs 21,647 21,647 51.108 72,755 83,466 Ngt Incomel{frxpondlture) Nel incomellexpenditurel ol the Group is ststed after charging.. Charity only 2022 2023 Audllorfs remuneration 12.500 7,500 Page 22
Docu Env81ope ID.. 8F493428.4E8F4EO&OBO$BC907044CFFS DEMENTIA RESEARCH UK IA Company Llmlted by Guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023 Audltorfs remuneration Charlty only 2022 2023 Fees payable to the CoMpanS auditor for th8 aijdil of the Companls annual accounts 12,500 7.500 staff costs Group Group Charlty only 2023 2022 Wages And salaries Social securily costs Pènsion ¢osls 74,486 8,136 6,800 89,422 The averag8 number of parsons amployèd by th8 Company during the year was as follows.. Group Group Charity only 2023 2022 No. No. Staff tngmb8rs No employee received remuneratiDn amounting lo more than £60,000 in 8ilhar y8ar. Tha total employè& benoflls of thè key management personnel of the Group were £47,313 {1 person) {2022.. £nil10 peoplell- 10. Trustses. remunoration and expenses There were no Iruslees, remuneration or other benefits for the year ended 31 Octrjber 2023 nor for the year ended 31 October 2022. There were nD Twstees, expenses pald for the year ended 31 October 2023 nor for the year ended 31 October 2022. Page 23
notSIgn Envelope ID.. 8F493428-4E8F4EOC-9803-BC907044CFF5 DEMENTIA RESEARCH UK IA Company Llmlt8d by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023 11. Flxed asset Investmgnts Investments 5ub$ldlary companies Company Cost or v8lu8tlon Additions 100,002 Al 31 October 2023 100.002 Net book value At 31 October 2023 100,002 Prlnclpal subsldlarlos The following was a subsidiary undertaking of the Company.. Namo Company number Class of shares Holdlng Included In consolldatlon Dornanlia Research Tradlng Limlled 14455544 Ordinary 100Yo Yes The financial results of the subsidiary for the year wgre- Name Expenditure PTofitllLo$s) I SuTplusl IDofl¢lt) for the year Nèt a$sot$ D8m8nlia R8s8arch Trading Limited 189,9541 89.954 10.048 12. Debtor8 Group Group Charlty only 2023 2022 Company Company Charity only 2023 2022 Due wlthln one year Other debtors 42,970 35,806 42.835 35,806 42,970 35,806 42,835 35,806 Page 24
Dou9 Envebpe ID.. 8F4934284E8F4EOC-9B03-BC907044CFF5 DEMENTIA RESEARCH UK {A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023 13. Credltors: Amounts falling due within one year Group Group Charlty only 2022 Company Company Charity only 2022 2023 2023 Trade credltors other creditors 108,648 12,461 55,201 108.648 55,2C>1 121,109 55,201 108,650 55,201 14. Flnanclal Instrument5 Group Group Charlty Only 2023 2022 Company 2023 Company 2022 Flnanelal assets Flnanclal ass81s m888ured al fair valu8 through incom@ and oxpgndilure 542,302 324.602 519.930 324,602 Financial ass8ts measured al falr value thfough Inccjme and expenditure comprise cash at bank and In hand. Page 25
DotytssEgn Envebpe ID.. 8F493428-4E8F4E-9BO8-8C907O44CFf5 DEMENTIA RESEARCH UK IA Company Llmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023 15. Statement of funds Statement of funds - curront yèar Charlty only Balance at 1 November 2022 B8lan¢e at 31 October 2023 Income Expendilure Unrestrlcted funds Charity fijnds Subsldlary serveS 305.207 1.048.255 (799.346} {89.954) 554,117 {89,954} 305.207 1.048,256 {889,300) 464,163 Slatoment of funds- prlor yeaT Charlty only Balance at 1 November 2021 Charlty only Balance at 31 October 2022 Income Expenditure Unrestricted fund$ Charityfunds Subsidiary r8s8rv8s 237,405 597,701 (s29,8) 305,207 237,405 597,701 1529.899) 305.207 16. Analys1$ of nfyt assets beeen funds Analysis of net a8sèts betwe&n funds - current y8ar Unrestrieted funds 2023 Total funds 2023 Current assels 585,272 585,272 1121,1091 1121,1091 crlIrS due within one year Total 464.163 464.163 Page 26
Dw51gn Envelope ID.. 8F49342B.4E8F4EOC-9B03.BC907044CFFS DEMENTIA RESEARCH UK IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023 16. Analysis of net assets betwèen funds lcontlnuedl Analysls of ngt a$sgts between funds - prlor year Unreslrictsd Unrestricted fund5 funds Charlty only Charlly only 2022 2022 Currènt assets Credltors due wilhln one yèar 360,408 155,201) 360,408 155,2011 Total 305.207 305.207 17. Re¢on¢lllatlon of net movÉmÈnt In funds to net cash flow from opèratlng actlvltifrs Group Group Charity only 2022 2023 Net income for the year las per Statement of Financial Activities) 158.956 67.802 AdJu$tment$ for: Increase In debtors 17,1621 65,906 19,6861 26,693 Increase in creditors Net cash provlded by operatlng adlvltles 217,700 84.809 18. Analysis of cash and cash gquivalonts Group 2023 Group 2022 Cash in hand 542.302 324,602 Total cash and cash equlvalents 542,302 324.602 Page 27
Oocu5tgD EfjvelopB ID.. 8F49342&4E8F4EOC_9B03_Bcg07044CFF5 DEMENTIA RESEARCH UK {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023 19. Analysls of changes in net debt At1 November 2022 Cash flows At31 October 2023 Cash al bank and in hand 324,602 217,700 542,302 324,602 217,700 542,302 20. P•nslon eommltm8nts The Group operates a defined eontributlon penslon schèmè. Th6 8ssels of the scheme are held separately from those of the Group in an indepgndently admlnlslered fund. The penslon cost charge represents contributions payabla by the Group to the fund. £5SD12022 - £nlll was payable to the fund at the ba18nce she8t date and aro includod in ¢redilois. 21. Related party transa¢tlons There ar8 no donations Irorn related partl85 whlch are oulslde the normal ¢ourse of business and no restricted donations from relalad partles. No Trustee or othor person related lo the Charity had any personal interest in any contract of Iransacllon entered into by the Charity, including guarantees, during the ye8r12022 - £nill. 22. Post balance 8h8et ovents There have been no signrficanl events affecllng thè Group slnco the year end. 23. Controlllng party Tha Trusl&es make up the membership of the ch8ri18ble company. There Is no overall controlling party. Pag8 28