The Sid Valley Memory Cafe FINANCIAL STATEMENTS for the year ended 31 March 2024 Twyford House Coburg Road Sidmouth Devon EXIO 8NF Registered chority No 1154261
THE SID VALLEY MEMORY CAFE REGISTERED CHARITY NUMBER: 1154261 FOR THE YEAR ENDED 31 MARCH 2024 CONTENTS: Page 1-6 Trustees Report Page 7 Independent Examiners Report Page 8 Statement of Financial Activities Page 9 Balance Sheet Page 10- 13 Notes to the Financial Statements Page 14- 15 Accounting Policies
THE SID VALLEY MEMORY CAFE REGISTERED CHARITY NUMBER: 1154261 TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024 Charitable Objectives To relieve the needs, and to promote and protect the good health of persons suffering from dementia and memory loss, their carers and family, in particular but not exclusively. by the provision and development of a drop-in centre known as a Memory Café where they can meet informally to take part in stimulating and enjoyable activities which make living with such conditions easier. Administrative Details The principal address of the charity 15: Twyford House Coburg Road Sidmouth Devon EXIO 8NF Charity Registration Number: 1154261 Charity Registration: 18 October 2013 Independent Examiner: N Smy ACA Westcotts ISW) LLP Chartered Accountants Queens House Honiton Devon EX14 IBJ Bankers: Lloyds Bank Blackheath London BXI ILT Page I
THE SID VALLEY MEMORY CAFE REGISTERED CHARITY NUMBER: 1154261 TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024 Trustees who served durin the ear". David Hodge CBE Jean Bridgeman Nicola Channon Adrian Ford Lynette Lloyd Angela Thompson (Resigned 3 November 2023) (Resigned 3 November 20231 {Resigned 7 March 2024) IAppointed 5 July 20241 John Hollick Jenny Waller Anita Denny Kathie Linley Sam Smith Richard Thurlow (Resigned 22 March 2024) (Appointed 3 November 2023) (Appointed 3 November 20231 (Appointed 3 November 20231 Mana ement Non-Trustees Simon Freeman Lois Swarbrook Karen Wallbridge Lynette Lloyd {Secretary) (Assistant secretary) (Treasurer resigned 31 January 20241 (Treasurer appointed l February 20241 Structure and governance Governin Document The Sid Valley Memory Cafe is registered as a charity with the charity commission and is a Charitable Incorporated Organisation and governed by its constitution document. Trustee A ointment Trustees are appointed after election by the Trustees. The Chairman of the Trustees is elected each year by the Board of the Trustees. Background Information What's a Memo Café? Memory Cafes have been set up across the UK. The Sid Valley Memory Café was started in 2010 by members of The Rotary Club of Sidmouth and The Rotary Club of Sid Vale for people in the local area and was registered with the Charity Commission on 18 October 2013. We provide an informal, social venue where you can go for advice and support if you or someone you know is suffering the challenges of memory loss or is newly diagnosed with some sort of dementia. Studies have shown that by sharing information and knowledge carers are better able to understand and support the person who is experiencing memory problems. Page 2
THE SID VALLEY MEMORY CAFE REGISTERED CHARITY NUMBER: 1154261 TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Memory Café aims to provide a social space for people in this situation. It is run by a team of volunteers, many of whom have been part of the team since the café was launched. As it is a Sid Valley community project the café is supported by many associations in the town and area. Our local Admiral Nurse calls into the meetings on a regular basis and is available for confidential professional advice. Between us our team have a wealth of experience and knowledge about memory problems and dementia and the support available. Most importantly, we all share the desire to offer a place where people can come and discuss their concerns with others in a similar situation, and where people living with dementia can join in a range of beneficial a nd enjoyable activities. Who is it for? The Sid Valley Memory Cafe is for: l. Anyone who is experiencing memory problems, or who is newly diagnosed with dementia. 2. Their carers, relatives and friends who support them. When and where we meet During this current year we met every Wednesday from 1.45pm 3:45pm at Twyford House where we are supported a number of trustees and volunteers who make a real difference for the members attending. Our address is: Twyford House Coburg Road Sidmouth Devon EXIO 8NF We also run a Befriending Support Group who meet on Tuesday mornings, providing a relaxing session over coffee at Fort café on the esplanade. This also allows their carers time for themselves to undertake personal activities. In association with Rotary Club of Sidmouth another Befriending session is held on Friday mornings at Anchor Inn, Fore St Sidmouth. The session plays a different but much-loved space where many men and some ladies enjoy the dedicated support from local Rotary Club members. Whilst this session is held, a separate session is also provided for the Carers of those members and this encourages more members to venture out on a Friday morning. Page 3
THE 51D VALLEY MEMORY CAFÉ REGISTERED CHARITY NUMBER: 1154261 TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024 Who runs the Memo Cafe? The Sid Valley Memory Café is run by a committed team of volunteers and trustees, many of whom have specific experience and knowledge of caring for people with dementia. We are kindly supported by many local organisations including the Churches, The Rotary Club of Sidmouth, The Inner Wheel Club of Sidmouth, Sidmouth Golf Club, Sidmouth Hospice at Home and Sid Valley Help. We have benefitted from individuals, legacies providing a solid financial basis for our future for the service. Admiral Nurse The Admiral Nurse continues to be a major support within the Sid Valley, although fully funded by Dementia UK from l April 2023. The SVMC Trustees will continually review and agree a dedicated amount each year to contribute towards the Admiral Nurse as a goodwill gesture as support for this role is a major part of the Charity's objectives. Activities Undertaken In line with the charitable objectives above, the Charity endeavoured to support its members through a number of activities described on page 3. The Charity reflected on how best it could continue to support the community and raise more of an awareness of dementia in the Sid Valley. At the beginning of March 2024, the Charity started a new initiative "Dementia Friendly Sidmouth" IDFSI. The objective of DFS is that businesses in the Sid Valley can have a greater awarene55 of Dementia and through on-line training, understand how they can give their customers, the best service. This is initiative is very important to SVMC who will lead this project to what is hoped great success in 2024. The Charity appointed a contracted project manager on a part time basis with Sidmouth Hospice at Home, Sid Valley Help, and Sidmouth Town Council as a Steering Group. This initiative will be launched in June 2024. This project is in its infancy and is being monitored, managed and reviewed by the Trustee5. Reserves Polic The Trustees continue to believe that the Charity needs to have 2 years Memory Cafe running expenses1£18,0001 available at all times and well secured. This has been achieved. Because of the legacies received this year it was agreed that in 2024, £400K will be invested with Charles Stanley as Discretionary Fund managers. Charles Stanley was selected as managers after a comprehensive bidding and evaluation process by the Trustees of the Charity. The Trustees will have regular updates on how the portfolio is performing from Charles Stanley. As further legacies are received in 2024, short and fixed terms savings accounts with Lloyd's Bank will be considered to achieve the best interest. Page 4
THE SID VALLEY MEMORY CAFÉ REGISTERED CHARITY NUMBER: 1154261 TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024 Public Benefit The trustees have paid due regard to the relevant Charity Commission guidance and consider that the activities outlined in this report meet the public benefit requirements for charities. Achievements and Performance New blood by way of Helpers, Trustees and the Dementia Friendly Sidmouth initiative has ensured the SVMC prospers and has brought new professionalism, knowledge and new dynamics to the team. The continued face to face meetings on Tuesday mornings, Wednesday afternoon Memory Cafe and Friday mornings are proving very popular and our seen as a lifeline to many carers. Angela Thompson who leads the SVMC, Jean Bridgeman with her Befriending role have maintained and grown the service to our community with the help of all the volunteers. Fund raising events with a street collection, attending the Sidmouth Classic Car Show, Christmas Coffee Morning, have 311 helped maintain an awareness of the Charity within the town. Sidmouth Golf Club has for the second year agreed to be our main sponsor from March 2024. The Trustees are extremely grateful for all donations, volunteers and general support from everyone involved during the year and hope that it will continue to thrive going into 2024. Financial Review A major factor in the contributions received in the year was as a direct result of legacies from a number of long standing trustees/friends of the Memory Café who regrettably passed away during the financial year. The total income for the twelve months ended 31 March 2024 amounted to £369.492, compared to £384,439 for the year ended 31 March 2023. The net reserves as at 31 March 2024 were therefore £429,534 in unrestricted funds12023: £207,492) and £377,637 in restricted funds (2023- £261,916) relating to the Admiral Nurse campaign. The charity would not exist without the volunteering and financial support which it receives for which we are all grateful. Post Balance Sheet Event5 After the financial year end, the Charity was notified that it was listed as a beneficiary in two wills and that it would be entitled to a share of the estate. At the date of signing the accounts the Trustees believe this could result in a further legacies of approximately £188K. £44K of which, was donated to the Admiral Nurse which will be transferred to Dementia UK. Page 5
THE SID VALLEY MEMORY CAFE REGISTERED CHARITY NUMBER: 1154261 TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024 Trustees, Responsibilities in Relation to the Financial Statements The trustees are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards. The law applicable to charities in England and Wales requires the trustees to prepare financial statement 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 of the charity for that period. In preparing these financial statements, the trustees are required to: Select suitable accounting policies and then apply them consistently- Observe the methods and principals of the Charities, SORP: Make judgements and estimates that are reasonable and prudent. State whether applicable accounting standards have been followed. subject to any departures disclosed and explained in the financial statements- and- Prepare the financial statement on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping accounting records which 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 Charities Act 2011. The tru5tee5 are responsible for safegu3rding the assets of the charity and hence for taking reasonable steps for the prevention and detection of f raud and other irregularities. Signed on behalf of the Trustees: Trustee NJIQ gi, Trustee Date: Page 6
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE SID VALLEY MEMORY CAFE I report to the trustees on my examination of the financial statements of Sid Valley Memory Cafe I'the charity'l for the year ended 31 March 2024. Responsibilities and basis of report As the trustees of the charity, you are responsible forthe preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the Act'l. I report in respect of my examination of the charity's financial statements carried out under settion 145 of the 2011 Att and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145{5)Ibl of the Act. Independent examiner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in a ny material respect: Accounting records were not kept in respect of the charity as required by section 130 of the Act; or The financial statements do not accord with those records- or The financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. N Smy ACA Westcotts (SW) LLP Chartered Accountants Queens House Honiton Devon EX14 IBJ ICAEW CHARTERED ACCOUNTANTS Page 7
THE SIO VAILEY MEMORY CAFÉ REGISTERED CHARITY NUMBER.. 1154261 YEAR ENDED 31 MARCH 2024 STATEMENT OF FINANCIAL ACTIVITIES Year Ended 31 March 2024 Unrestricted Restricted Total Funds Funds Funds Year Ended ai Mar¢h 2023 Unrestricted Restricted Total Funds Funds Fund5 In¢ome and Endowments from Donations and legacies Fund raising Charitable Activities Investment Income Total Income Note3 226.712 131 12,454 127,056 271 353,768 402 12.454 2,868 369.492 179,155 863 199,890 379.Q45 4,522 5.385 2,868 130,19S 239,297 180,018 204,421 384,439 Ex enditure Raising Funds Charitable activities Other costs Total Expendlture Note 4 116,2711 19841 117.2551 114.4741 130,7451 19841 114.4741 131,7291 18.1101 19361 19.0461 18,1101 19361 19,0461 Note 6.1 Net Income 222.042 115,721 337.763 170,972 204.421 375.393 Reconcillation of Fund5 Total funds brought forward Note 5 207.492 261,916 469,408 36,520 57,495 94.015 Total funds carried forward 429.534 377,637 807,171 207,492 261.916 469,408 All the charitie5 activities ¥elaie to tontinuing operations during the above two peiiods. Page 8
THE SID VALLEY MEMORY CAFÉ REGISTERED CHARITY NUMBER= 1154261 BALANCE SHEET AS AT 31 MARCH 2024 As ai 31.03.2024 As at 31.03.2023 Fixed Assets Note 7 632 Current Assets Debtors Cash at Bank-current Account Admiral Nurse Bank Account Cash in Hand Nore8 172,107 345,256 289.530 630 3.333 205,072 261.916 23 Totol current ossets 807,523 470,344 Liabilities Note 9 Creditors.. Amoun15 falling due within one year 19841 19361 Net current osset5 806.539 469,408 Totol ossets le55 currtnt liobiljties 807,171 469,408 Total Net Assets 807,171 469,408 The Funds of The Charity Restricted Income Funds IAdmiral Nurse Campaign) Llnrestricied Reserve Designated Reserve Note5 377,637 403,462 26.072 261.916 206.492 1,000 807.171 469,408 Approvetl by the Board ol Trustees and silned on their behalf Trustee rJ,La, C Trustee Date.. Pa8e 9
SID VALLEY MEMORY CAFÉ REGISTERED CHARITY NUMBER.. 115461 YEAR ENDED 31 MARCH 2024 NOTES TO THE ACCOUNTS Note 3- Analysis of Income Year Ended 31 March 2024 Unrestricted Restricted Total Funds Funds Funds Year Ended 31 March 2023 Unrestricted Restricted Total Fund5 Funds Funds Donatlons and legacies Voluntary Income and Donations Irom Individual Grants and Donations from Organisations and Charitie¢ Gift Aid reclaim on Personal Donationc 223,021 3,691 117,839 9,217 340,860 I2,8 176,250 2,905 186,175 362,425 13,715 16,620 226,712 127,056 353,?68 179,155 199,890 379.045 Income from Charltable Activities Befriending Christmas party FLtnd Raising 12,454 12,454 12.454 12,454 Investment Income 8ank Interest 2.868 2.868 2.868 2,868 Fund raising Adrnifal Nurse Fundraisin Street Collections and Tin5 Downton Abbev Rock concert Mary Knig talk Quiz Night Classic Car raffle Chri5tma5 cards Coffee and cake Christmas Coffee mornin8 76 1,231 922 1,033 429 379 76 1,231 922 1,033 429 379 271 271 452 4.522 4S2 4,522 271 271 Sid Valle Memof Café Fundraisin Street Collection5 and Tins Auction Easy fundraising Iwebsite cashbackl Outings Members contributsons 589 589 131 131 131 131 274 863 274 863 TOTAL INCOME 239,Z97 130,195 369,492 180,018 204,421 384.439 Restricted Funds Relate to the Admiral Nurse campaign and can therefore only be used lor this purpose Page 10
SID VALLEY MEMORY CAFE REGISTERED CHARITY NUMBER: 115461 YEAR ENDED 31 MARCH 2024 NOTES TO THE ACCOUNTS CONTINUED Note 4- Analysis of Expendlture Year Ended 31 March 2024 Unrestrietèd Restricted Total Funds Funds Funds Year Ended 31 Mar¢h 2023 Unrestricted Restricted Total Fund5 Funds Funds Expenditure on Raislng Funds Fundfaising Costs for Admiral Nurse (Restricted Funds) Events expenses and deductions Promotion and Advertising Tot31 Expenditure on Raising Funds Expendlture on Charitable Activlties Sidmouth Memory Cufe Running Costs.. Rent Office Supplie5 Catering In51Jrance Outgoings (excluding transport) First Aid Training Befriendifjg Transport Promotion & Advert15ing Web Site Development Christmas Lunchljubilee Party Respite Care Funding Project Manager Costs Christmas Cards Depreciation Miscellaneous 2,374 598 341 479 2,957 2,374 598 341 479 2.957 1.128 1,177 244 265 2,578 475 323 560 109 432 277 1,128 1,177 244 265 2,578 475 323 560 109 432 277 1.061 564 184 852 269 1,061 564 184 852 269 3CK) 3,783 1.610 158 741 16,271 3.783 1,610 158 741 16.271 98 444 8.110 98 444 8,110 Admiral Nurse costs Dementia UK- upfront Admiral Nurse Costs Advert15ing 14.474 14,474 14,474 14,474 Total exper)diture on charitable activltles 16,271 14.474 30.745 8,110 8.110 Governance Costs Independenl Examiners Fees laccruall 984 936 936 TOTAL EXPENDITURE 17.255 14,474 31.729 9,046 9,046 Page 11
SID VALLEY MEMORY CAFÉ REGISTERED CHARITY NUMBER= 1154 YEAR ENOED 31 MARCH 2024 NOTESTO THE ACCOUNT5 CONnNUEO Note S-Ch¥ri funds. F d$ Brou Forward ht Funds Carrled Fund Name endltur Unrestykfed Reserves (general reser¥e51 These lund5 are unFe5tricted and used 8erteral purposes of the charitya5 the trustees see fit. 206.492 239.297 128,8551 403.462 UMre5trirted Resee% Idesr&nated re5eryesl These funds ale unrestrted btsi have been set aside by theTrustees loi thepromoiion of Oementia FriendlySidTho¥th 1.000 13,7831 28,855 26,072 207,492 239,297 429.534 R¢#rfrted Reseryes These Ivhds ielateto the campa for an Admiral trursefor the SKJ Valleyaiea. These ieserves are festitled only loi these purpose5. 261.916 130.195 114,4741 377,637 Tolal Fund5 469,408 369.d92 131.7291 807,171 Note S.1- Perio nd$ Brou FOard ht Fund Name Tr Forward Unfesiritted ReseNtslEeneral re5eryesl These funds ale unresErKted and used for 8eneial puiposes of the 36.520 180.018 19,0461 11,0001 206,492 Unrestricted Resee$ Idesignated resÈrvesl These fund5 ale unrestiicted bt have been setaside by the Tiustee5 for the pTomDtKin of Demehiia Friendly &dmout 1,000 i.ofy) 36,520 180,018 19,0461 207,492 Restrlcted Reserves These funds Ittet0 the campa¥n frrf Admiial nurse for ihe valley area. These reseivÈ5 are rest¢Kted for these puip05e5. 57,495 204.421 261,916 Toi•l Fuhds 94,015 384,439 19.0461 469.40B Ilote 6-6ovein3nce Costs Due io the SlEe and naivieof te GoveraTr¢e cost5 these have been allotated en1hre to uniestricied ieserves. sfor the Examlnation olthe Acuun Fees foi the examInatn oltheaccounts Ill Ihe yearwere as folW$.. 3.2023 Independent Examiners Fees 936 14otE 7-Tan -ble fixed Assets Cost At 31 March 2023 Additions At 31 Marth 2014 790 1,27 Depreotion Al 31 Marih 2023 Chaigefoi year At 31 Mawch 2024 16461 Net book vale At 31 March 2024 632 Al 31 March 2023 P•Èe L2
SID VALLEY MEMOR Y CAFÉ REGISTERED CHARITY NUMBER: 115461 YEAR ENDED 31 MARCH 2014 NOTES TO THE ACCOUNTS copiriNUED Note 8- DebtOfS 31.03.2024 Legacies Other Debtors 172,107 3,333 172.107 3,333 Note 9- (dItO .. Arnount$ Oue whhln One Year 31.03.2024 31.03.2023 Independent Examiners Fee5 Other Creditors 936 984 936 Note 10- Stafl Cosis 31.03.2024 31.03.2023 Staff costs durin8 the period were.. 1,8 Avera8e headcount No ernployee received emoluments of more than £60,000 during the ¥ear. Note 11- Donèiion Donations totallin8 £nil12023.. £nill were received Irom Trustees in the year. Ilote 12- Related Pa Transactlons There were no related party transactions in the year requiring disclosure. Note 13- Anal is of ntt atsets be ween funds Unrestritted Restrlct funds funds 2024 funds Z024 FixedA$5e¢s 632 632 Current A55et5 429,886 377,637 807,523 19841 19841 429.534 377,637 807,171 Unrestftcted Restricted funds funds Total funds 2023 2023 Fixed Assets Current Assets 208,428 261,916 470,344 19361 19361 207,492 261,916 469,408 Note I -Yrustee e enses Expense5 01 £1,20612023 £2,063) were reimbursed to 9 Trustees12023 81 durin8 the year Note14-P At the year end the Trustees had ¢ommitted to donating £11,500 to Dementia UK durin8 the year ended 31 MaFch 2025. This will be paid from the Admir31 Nurse Restricted fund. Page 13
THE SID VALLEY MEMORY CAFÉ REGISTERED CHARITY NUMBER: 1154261 ACCOUNTING POLICIES FOR THE YEAR ENDED 31 MARCH 2024 Accounting Policies The financial statements have been prepared in accordance with Accounting and Reporting by Charities- Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applica ble in the UK and Republic of I reland IFRS 1021 (effective l January 2015) (Charities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. Sid Valley Memory Cafe meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. The financial statements have been prepared under the historic cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The Financial Statements are prepared in Sterling which is the currency of the entity. Going Concern The accounts have been prepared on a going concern basis. There are no material uncertainties about the charity's ability to continue. The charity is a Charity Incorporated Organisation. In the event of the CIO being wound up, the members have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities. Cashflow Statement The Charity ha5 taken advantage of the exemption in FRS102 from the requirement to produce a cash flow statement because it is small. Funds Unrestricted Funds represents the funds of the charity that are not subject to any restrictions regarding their use and are available for application to the general purposes of the charity. Designated Funds represent the funds set aside by the Trustees for a particular purpose. These can revert back to general unrestricted fund at the discretion of the Trustees at any time. Restricted Funds relate to the Admiral Nurse campaign and can be expended only on that purpose. Page 14
THE SID VALLEY MEMORY CAFÉ REGISTERED CHARITY NUMBER: 1154261 ACCOUNTING POLICIES FOR THE YEAR ENDED 31 MARCH 2024 Income and Endowments Voluntary income and capital sources: Donations are shown when the conditions for receipt and amounts are verifiable. Income Tax recoverable on Gift Aid donations is recognised when the recovery is received from HM Revenue and Customs. Grants and legacies to the charity are accounted for as soon as the charity is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt by the charity is reasonably certain. Income from restricted reserves are expended in accordance to the restrictions. These reserves. Investment income is recognised when received. Expenditure The expenditure on the admiral nurse is accounted for when the expenditure has been passed over to Dementia UK- registered charity number 1039404. Amounts expended for the admiral nurse are paid upfront and in advance of the work of the admiral nurse being carried out. However, as the amounts are non-refundable to Sid Memory Café, no adjustments have been made to prepay the expenditure over an appl icable period. Full details of the restricted reserves held by Dementia U K in regards to the donation from Sid Valley Memory Café can be found on their accounts, available from the Charity Commission website. Tangible fixed assets Tangible fixed assets will be capitalised where expenditure is over £100, the life of the asset is expected to be over I year and where the charity retains ownership. Computer Equipment 20% straight line Investments The charity has no investments. Charitable Status The Charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and accordingly, the Charity is exempt from Income Tax and Capital Gains Tax. provided its income and gains are applied for charitable purposes. The charity has no trade activities. Page 15