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2023-03-31-accounts

WORLD DEMENTIA COUNCIL (CHARITABLE INCORPORATED ORGANISATION)

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED

31 MARCH 2023

Charity Registration Number in England and Wales: 1170743

WORLD DEMENTIA COUNCIL TRUSTEES AND ADVISERS

31 MARCH 2023

TRUSTEES Philippus Scheltens(Chair)
Dr Kiyoshi Kurokawa
Harry Johns
George Vradenburg
Dr Katherine Joanne Pike
Professor Miia Kivipelto
Professor Paulo Caramelli
CHARITY ADDRESS 4thFloor, Rex House
4-12 Regent Street
St James
London
SW1Y 4PE
CHARITY REGISTRATION NUMBER
 1170743
MANAGEMENT Executive Director
Lenny Shallcross
SOLICITORS Russell-Cooke Solicitors
2 Putney Hill
London SW15 6AB
INDEPENDENT EXAMINER Vikram Sandhu FCCA
Haysmacintyre LLP
10 Queen Street Place
London
EC4R 1AG
BANKERS NatWest
1 Princes Street
London
EC2R 8BP

WORLD DEMENTIA COUNCIL TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 MARCH 2023

The Trustees present their report with the accounts of the World Dementia Council for the year ended 31 March 2023. The accounts have been prepared in accordance with the accounting policies set out in Note 1 and comply with applicable laws and the requirements of the Charities SORP FRS 102 (Second edition October 2019) and Charities Act 2011.

STRUCTURE, GOVERNANCE AND MANAGEMENT

CONSTITUTION

The World Dementia Council is governed by a Trust Deed dated 15[th] November 2016 and is registered under the Charities Act 2011 as a Charitable Incorporated Organisation (Charity Registration Number 1170743).

ORGANISATION

The chair and vice chair are elected by the members. All other trustees are appointed by the trustees. Trustees are appointed from members of the World Dementia Council board and as such have a detailed knowledge of the aims and objectives of the organisation. The executive is responsible for supporting new trustees to understand their responsibilities.

The Trustees meet regularly to review the strategy of the charity and to approve the business plan and monitor its delivery.

The trustees, who held office during the year are as follows:

Name Role Date of Date of Status
Appointment Resignation
Philippus Scheltens Chair 09-Sep-20 Active
Christopher Ian Henry Trustee 07-Oct-21 31-Jul-23 Resigned
Llewellyn
Dr Kiyoshi Kurokawa Trustee 13-Sept-21 08-Nov-23 Resigned
Ricardo Francisco Allegri Trustee 09-Sept-20 31-Jul-23 Resigned
Harry Johns Trustee 13-Mar-18 Active
Meera Pattabiraman Trustee 28-Feb-17 31-Jul-23 Resigned
George Vradenburg Trustee 14-Dec-16 Active
Dr Katherine Joanne Pike Trustee 31-Jul-23 Active
Professor Paulo Caramelli Trustee 31-Jul-23 Active
Professor Miia Kivipelto Trustee 31-Jul-23 Active

The Trustees delegate the day-to-day management of the charity to the Executive Director, Lenny Shallcross. WDC became an employer in May 2018, with their first employee commencing 1[st] May 2018. Flinder were employed for payroll services and for bookkeeping and preparation of the statutory accounts.

2

WORLD DEMENTIA COUNCIL TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 MARCH 2023

PRINCIPAL ACTIVITIES AND OBJECTIVES

The World Dementia Council is a charitable incorporated organisation which was registered with the Charity Commission on 14[th] December 2016.

The objects of the charity are, for the public benefit.

REVIEW OF THE YEAR’S ACTIVITIES, ACHIEVEMENTS

The Charity’s income consists exclusively of grant income and totalled £283,947 (2022: £289,820) for the 12 month period to 31 March 2023. This included £NIL (2022: £10,817) from government grants, all of which was spent in the period.

Total expenditure in the period was £324,056 (2022: £322,629) which included support costs of £141,404 (2022: £85,890). An overall deficit of £40,109 (2022: £32,810) remains at 31 March 2023, all of which is unrestricted.

PLANS FOR FUTURE PERIODS

The WDC’s mission is to support and challenge the international community on delivering on the 2025 goals. In 2023/24 the Council will continue to focus on its mission in the priority areas of research, awareness & stigma, care and risk reduction through global advocacy, global leadership and building global networks of individuals and organizations committed to improving the lives of people with dementia and their care givers.

GOING CONCERN

The trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future being a period of at least 12 months from approval of the financial statements. No material uncertainties in relation to the ability of the charity to continue on a going concern basis have been identified by the trustees. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

FUNDRAISING

The charity had no fundraising activities requiring disclosure under S162A of the Charities Act 2011. The Charity accounts comply with the Statement of Recommended Practice (SORP) issued in 2019, other current statutory requirements, and the requirements of the Trust Deed.

3

WORLD DEMENTIA COUNCIL TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 MARCH 2023

TRUSTEES’ REMUNERATION AND EXPENSES

During the year the trustees received no remuneration.

RESERVES POLICY

It is the Trustees’ policy to maintain a level of free reserves which provides a stable base for their continuing activities, whilst at the same time ensuring excessive funds are not accumulated and the Trustees have considered satisfactory the level of unrestricted reserves held, which amounted to £44,327 (2022: £84,436) at the end of the year. WDC has a reserves policy of two to four months operating cost.

PRINCIPAL RISKS AND UNCERTAINTIES

The Trustees have considered the major risks to which the Charity is exposed, have reviewed those risks and established systems and procedures to manage them. The Trustees consider that the principal risks relate to the engagement of G7 and G20 governments in developing dementia policy and continued international co-operation to drive forward progress.

The WDC council has over half the countries on the G20 represented round the table. Through working with council members and others we will continue to build strong links with the G7 and G20 to deliver on the mission.

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and regulations.

Charity law requires the Trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards) and applicable law.

4

WORLD DEMENTIA COUNCIL TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 MARCH 2023

Under charity law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its net incoming/outgoing resources for that period. In preparing these financial statements, the trustees are required to:

select suitable accounting policies and then apply them consistently;

The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the Charity’s transactions and 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. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the Trustees on 1 December 2023 and signed on their behalf by

Philippus Scheltens Chair of WDC Trustees

5

WORLD DEMENTIA COUNCIL

FOR THE YEAR ENDED 31 MARCH 2023

TRUSTEES’ REPORT

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF WORLD DEMENTIA COUNCIL

I report to the Trustees on my examination of the accounts of World Dementia Council (“the Trust”) for the year ended 31 March 2023 which are set out on pages 7 to 18.

Respective responsibilities of Trustees and examiner

The Trustees are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘’the 2011 Act”). The Trustees are satisfied that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and have chosen instead to have an independent examination.

I report in respect of my examination of the Trust’s accounts as carried out under section 44 (1) (c) of the 2005 Act and section 145 of the 2011 Act. In carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s statement

I can confirm that I am qualified to undertake the examination because I am a registered member of the Institute of Chartered Accountants of Scotland which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts 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.

Vikram Sandhu FCCA Haysmacintyre LLP 10 Queen Street Place London EC4R 1AG Date: _______ 5 December 2023

6

WORLD DEMENTIA COUNCIL STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023

Income from:
Charitable activities
TOTAL INCOME
Expenditure on:
Charitable activities
TOTAL EXPENDITURE
NET
(EXPENDITURE)/INCOME
Total Funds Brought
Forward
Total Funds Carried
Forward		 Notes
Unrestricted
Funds
Restricted
Funds
T o t a l
F u n d s
1 2
m o n t h s
t o 3 1
M a r c h
2023
Total Funds
12
months
to 31
March
2022
£
£
£
£
2
223,152
60,795
283,947
289,820
223,152
60,795
283,947
289,820
3
263,261
60,795
324,056
322,630
263,261
60,795
324,056
322,630
(40,109)
-
(40,109)
(32,810)
84,436
-
84,436
117,246
44,327
-
44,327
84,436

There are no gains or losses other than shown above and all activities are continuing. Notes 1 to 10 form an integral part of these accounts.

7

WORLD DEMENTIA COUNCIL STATEMENT OF FINANCIAL ACTIVITIES

(INCORPORATING INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31 MARCH 2023

Notes
CURRENT ASSETS
Debtors
4
Cash and deposits
TOTAL CURRENT ASSETS
CURRENT LIABILITIES
Creditors payable within one year
5
NET ASSETS
FUNDS
Unrestricted funds
6
Restricted funds
TOTAL FUNDS		 2023
2022
£
£
69,808
69,810
26,667
52,033
96,475
121,843
(52,148)
(37,407)
44,327
84,436
44,327
84,436
-
44,327
84,436

Notes 1 to 10 form an integral part of these accounts.

These financial statements were approved by the Trustees on 1 December 2023 and were signed on its behalf by: Philippus Scheltens Chair of the Trustees

8

WORLD DEMENTIA COUNCIL STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 MARCH 2023

Notes
Net cash inflow from operations
(i)
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the beginning
of the period
Cash and cash equivalents at the end of the
period
(i) Reconciliation of net income
Net (loss)/income for the year
(Increase)/ decrease in debtors
(Decrease)/Increase in creditors
Net cash (outflow)/inflow from
operations		 12 months
to
31 March
2023
£
(25,366)
(25,366)
52,033
26,667
2023
£
(40,109)

2

14,741

(25,366)		 12 months
to
31 March
2022
£
(25,545)
(25,545)
77,578
52,033
2022
£
(32,810)
(14,442)
21,707
(25,545)		 12 months
to
31 March
2022
£
(25,545)
(25,545)
77,578
52,033
2022
£
(32,810)
(14,442)
21,707
(25,545)
(25,545)

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WORLD DEMENTIA COUNCIL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1. ACCOUNTING POLICIES

Charity Information

World Dementia Council is a Public Benefit Entity registered as a Charitable Incorporated Organisation (CIO) in England and Wales. It was formed on 14[th] December 2016 and its charity number is 1170743. Its registered office address is 4[th] Floor, Rex House, 4-12 regent Street St James, London SW1Y 4PE.

The period of these financial statements are from the 1[st] of April 2022 until the year ended 31[st] March 2023 (12 months).

Basis of preparation

The financial statements have been prepared in accordance with the Charities SORP (FRS102) applicable to charities preparing their accounts in accordance with FRS102 the Financial Reporting Standard applicable in the UK and Republic of Ireland and the Charities Act 2011 and UK Generally Accepted Practice. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

The functional currency of the charity is considered to be GBP because that is the currency of the primary economic environment in which the charity operates.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the accounting policies, Trustees are required to make judgement, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

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

In the view of the Trustees, no assumptions concerning the future or estimation uncertainty affecting assets or liabilities at the balance sheet date are likely to result in a material adjustment to their carrying amounts in the next financial year.

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WORLD DEMENTIA COUNCIL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

Going Concern

The trustees have considered the potential impact of the coronavirus pandemic since the year end, and the various measures taken to contain it on the operations of the charity. No immediate concerns in relation to the charities long term future have been identified but this area continues to be monitored. The trustees are satisfied that the steps that they have taken in the short term are appropriate and effective.

1.1. Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item of income has been met, and where it is probable that the income will be received and the amount can be measured reliably.

Income from government and other grants is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met and where it is probable that the income will be received and the amount can be measured reliably.

1.2. Expenditure

Expenditure is recognised in the period to which it is incurred and includes attributable VAT which cannot be recovered.

Support costs comprise of administration costs are allocated to the various cost categories on the basis of an estimate of staff time attributable to each activity.

Governance costs are the expenses incurred by the charity in meeting their statutory and constitutional requirements and include Trustees’ expenses and external audit fees.

1.3. Operating Leases

Operating leases and the payments made under them are charged to the statement of financial activities on a straight line basis over the lease term.

1.4. Funds

Unrestricted General Funds The funds are available at any time for the use at the discretion of Trustees for furtherance of the charity’s activities and objectives.

Restricted Funds Grants received which are earmarked by the donor for specific purposes. Such purposes are within the overall aims of the charity.

11

WORLD DEMENTIA COUNCIL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1.5. Financial instruments

Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost, with the exception of investments which are held at fair value.

Financial assets held at amortised cost comprise cash at bank and in hand, together with trade and other debtors. Cash at bank and in hand is defined as all cash held in instant access and short notice bank accounts and used as working capital.

Financial liabilities held at amortised cost comprise all creditors except social security and other taxes, deferred income and provisions.

2. Income from charitable activities

Unrestricted
Restricted
2022
£
£
£
Government grants
10,817
-
10,817
Trust, foundations and other
grants
220,949
58,054
279,003
231,766
58,054
289,820
Unrestricted
Restricted
2022
2022
£
£
£
£
Government
grants
-
-
-
10,817
Trust, foundations
and other grants
223,152
60,795
283,947
279,003
223,152
60,795
283,947
289,820		 Unrestricted
Restricted
2022
2022
£
£
£
£
-
-
-
10,817
223,152
60,795
283,947
279,003		 Unrestricted
Restricted
2022
2022
£
£
£
£
-
-
-
10,817
223,152
60,795
283,947
279,003
223,152 60,795
283,947
289,820
Unrestricted
Restricted
2022
£
£
£
10,817
-
10,817
220,949
58,054
279,003
231,766
58,054
289,820

The London Summit was funded by Alzheimer’s Drug Discovery Foundation , Alzheimer's Society and Gates Ventures as a restricted grant and all fund were spent and there were no unfulfilled conditions. All other activities were from unrestricted funds.

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WORLD DEMENTIA COUNCIL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

3.ANALYSIS OF EXPENDITURE

(a) Charitable Expenditure

Campaigns and advocacy
Awareness
Care & Research
Promote and charitable purposes and WDC Meetings
Cost Support
Total charitable expenditure
Campaigns and advocacy
Awareness
Care & Research
Promote other charitable purposes and
WDC Meetings
Cost Support
Total charitable expenditure		 Activities
undertaken
directly
Support
costs
Total
2023
Total
2022
£
£
£
60,869
-
60,869
95,420
30,494
-
30,494
41,140
15,247
-
15,247
20,570
76,042
-
76,042
79,610
-
141,404
141,404
85,890
182,652
141,404
324,056
322,630
Activities
undertaken
directly
Support
costs
Total
2022
£
£
£
95,420
-
95,420
41,140
-
41,140
20,570
-
20,570
79,610
-
79,610
-
85,890
85,890
236,740
85,890
322,630

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WORLD DEMENTIA COUNCIL

(c)Governance included in support costs:
Remuneration paid to independent examiner for
-
Independent examination
(b) Support Costs
Engagement –Event Attendance
Re-charged salary cost
Marketing
Office cost
Insurance
Staff training
Legal and Professional
Fees paid to Independent examiner
Bank charges
Event hosting costs		 2023
2022
£
£
2,220
2,220
Total
2023
£
Total
2022
£
32,519
17,436
36,241
28,354
5,282
850
45,123
19,530
983
1,052
6,552
7,765
8,828
8,323
2,220
2,220
358
360
3,298
-
141,404
85,890
2,220
2,220

There have been an average of 2 (2022: 3) employees within the period. The total cost of consultants and recharged staff costs are included in the below:

2023 2022
£ £
Charitable Activities 121,858 177,700
Support Activities 36,241 28,354
158,099 206,054

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WORLD DEMENTIA COUNCIL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

Wages and Salaries
Social Security Costs
Employer Pension Costs
Consultants and Recharged costs		 2023
£
2022
£
126,808
167,457
17,291
21,357
13,714
16,822
286
418
158,099
206,054

The number of employees paid over £60,000 (2022: £60,000) during the year was 1 (2022 : 1), within the £100,000 to £110,000 banding.

Total remuneration paid to key management personnel in the year was £122,031 (2022: £159,353)

4. DEBTORS: amounts receivable due within one year

4.DEBTORS: amounts receivable due within one year
Accrued income
Other debtors
5. CREDITORS: amounts falling due within one year
Accruals
Trade creditors
Other creditors		 2023
2022
£
£
57,561
58,801
12,247
11,009
69,808
69,810


2023
2022
£
£
19,858
11,862
10,014
14,773
22,276
10,772
52,148
37,407

15

WORLD DEMENTIA COUNCIL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

6. FUNDS

World Dementia Council’s funds are analysed under the following headings:

a) UNRESTRICTED FUNDS

Unrestricted funds represent accumulated income from activities and other sources that are available for the general purposes of the World Dementia Council.

b) RESTRICTED FUNDS

Restricted grants received for the period were for the London Summit.

7. SUMMARY OF MOVEMENTS ON MAJOR FUNDS FOR THE PERIOD

Unrestricted funds
General Reserve
Restricted funds
Alzheimer’s Drug Discovery
Foundation , Alzheimer's Society
and Gates Ventures
Total Funds
Unrestricted funds
General Reserve
Restricted funds
Alzheimer’s Drug Discovery
Foundation , Alzheimer's Society and
Gates Ventures
Total Funds		 Income
Expenditure
2023
2022
£
£
£
£
223,152
(263,261)
(40,109)
(32,810)
60,795
(60,795)
-
-
283,947
(324,056)
(40,109)
(32,810)
Income
Expenditure
2022
£
£
£
231,766
(264,576)
(32,810)
58,054
(58,054)
-
-
-
-
289,820
(322,630)
(32,810)

16

WORLD DEMENTIA COUNCIL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

8. RELATED PARTY TRANSACTIONS

During the year the trustees did not receive any remuneration.

WDC and Alzheimers Association are related parties due to Mr Harry Johns being a Trustee of WDC and CEO of Alzheimers Association.

WDC and Vradenburg Foundation are related parties due to Mr.George Vradenburg being a Trustee of WDC and President of Vradenburg Foundation.

During the year WDC received income as follows:
Alzheimers Association
Alzheimers Society
Vradenburg Foundation
Home Instead
Restricted income – Eli Lilly
Restricted income - Gates Ventures
Reimbursed income – Johnson & Johnson
Restricted income – Alzheimer’s Drug Discovery Foundation
Restricted income – Alzheimer’s Society
Total		 2023
2022
£
£
81,959
70,942
-
20,000
83,631
72,093
57,561
57,914
-
20,768
19,991
-
-
37,286
20,016
-
20,788
-
283,946
279,003

At the year end there were no balances owing from the above related entities.

9. OPERATING LEASE COMMITMENT

At 31 March 2023 WDC had future minimum lease payments which are as follows:

Land and buildings
Within 1 year
Within 2-5 years
Total		 2023
2022
£
£
18,655
37,000
18,655
-
37,310
37,000

Total rental expense for the period was £ 34,097 (2022 : £16,135)

17

WORLD DEMENTIA COUNCIL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

10. 2022 STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted Restricted 2022
£ £ £
Income 231,766 58,054 289,820
Expenditure (264,576) (58,054) (322,630)
Net income (32,810) - (32,810)

18