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← World Dementia Council

2024-03-31-accounts

WORLD DEMENTIA COUNCIL (CHARITABLE INCORPORATED ORGANISATION)

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2024

Charity Registration Number in England and Wales: 1170743

WORLD DEMENTIA COUNCIL TRUSTEES AND ADVISERS

31 MARCH 2024

TRUSTEES Emeritus Professor Philippus Scheltens(Chair) Professor Philippus Scheltens(Chair)
Harry Johns
George Vradenburg
Dr Katherine Joanne Pike (Vice Chair)
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 Steve Harper CA (ICAS) DChA
HaysMac LLP
10 Queen Street Place
London
EC4R 1AG
BANKERS NatWest
1 Princes Street
London
EC2R 8BP

1

WORLD DEMENTIA COUNCIL TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 MARCH 2024

The Trustees present their report with the accounts of the World Dementia Council for the year ended 31 March 2024. The Trustees confirm that the annual report and financial statement of the Charity comply with current statutory requirements, the requirements of the Charity’s governing document, and the Statement of Recommended practice (SORP) appliable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable In the UK and Republic of Ireland (FRS 102) (Second Edition effective 1 January 2019) and the 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
Dr Kiyoshi Kurokawa Trustee 13-Sept-21 31-Jul-23 Resigned
Harry Johns Trustee 13-Mar-18 Active
George Vradenburg Trustee 14-Dec-16 Active
Dr Katherine Joanne Pike Vice Chair 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. 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 2024

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 to £323,318 (2023: £283,947) for the 12-month period to 31 March 2024.

Total expenditure in the period was £334,365 (2023: £324,056) which included support costs of £134,127 (2023: £141,404). An overall deficit of £11,047 (2023: £40,109) remains at 31 March 2024, 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 2024

TRUSTEES’ REMUNERATION AND EXPENSES

The trustees received no remuneration either this year or in the previous year.

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 £33,280 (2023: £44,327) at the end of the year. WDC's reserves policy targets two to four months of operating costs, equivalent to £55,727 for two months. This year, reserves amounted to £33,280, falling short of the target due to delays in donations. To address this, donations will be received at regular intervals moving forward, ensuring the reserves policy is achieved.

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.

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:

4

WORLD DEMENTIA COUNCIL

FOR THE YEAR ENDED 31 MARCH 2024

TRUSTEES’ REPORT

STATEMENT OF TRUSTEES’ RESPONSIBILITIES (CONTINUED)

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 22 January 2025 and signed on their behalf by:

Philippus Scheltens Chair of WDC Trustees

5 5

WORLD DEMENTIA COUNCIL TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 MARCH 2024

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 2024 which are set out on pages 7 to 19.

Respective responsibilities of Trustees and examiner

As the trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Trust’s accounts conducted under section 145 of the 2011 Act and in conducting my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 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.

Steve Harper CA (ICAS) DChA HaysMac LLP 10 Queen Street Place London EC4R 1AG Date: 22 January 2025

6

WORLD DEMENTIA COUNCIL STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

Income from:
Charitable activities
TOTAL INCOME
Expenditure on:
Charitable activities
TOTAL EXPENDITURE
NET EXPENDITURE
Total Funds Brought
Forward
Total Funds Carried
Forward		 Notes
Unrestricted
Funds
Restricted
Funds
Total Funds
31
March
2024
Total Funds
31
March
2023
£
£
£
£
2
208,051
115,267
323,318
283,947
208,051
115,267
323,318
283,947
3
219,098
115,267
334,365
324,056
219,098
115,267
334,365
324,056
(11,047)
-
(11,047)
(40,109)
44,327
-
44,327
84,436
33,280
-
33,280
44,327

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

BALANCE SHEET

FOR THE YEAR ENDED 31 MARCH 2024

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
Notes 1 to 10 form an integral part of these accounts.		 2024
2023
£
£
11,703
69,808
64,967
26,667
76,670
96,475
(43,390)
(52,148)
33,280
44,327
33,280
44,327
-
-
33,280
44,327

These financial statements were approved by the Trustees on 22 January 2025 and were signed on its behalf by:

Philippus Scheltens Chair of the Trustees

8

WORLD DEMENTIA COUNCIL

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2024

12 months
to
31 March
2024
Notes
£
Net cash inflow from operations
(i)
38,300
Change in cash and cash equivalents in
38,300
the reporting period
Cash and cash equivalents at the beginning
of the period
26,667
Cash and cash equivalents at the end of the
period
64,967		 12 months
to
31 March
2024
Notes
£
Net cash inflow from operations
(i)
38,300
Change in cash and cash equivalents in
38,300
the reporting period
Cash and cash equivalents at the beginning
of the period
26,667
Cash and cash equivalents at the end of the
period
64,967		 12 months
to
31 March
2023
£
(25,366)
(25,366)
52,033
64,967 26,667
(i) Reconciliation of net income
Net expenditure for the year
(Increase)/ decrease in debtors
(Decrease)/Increase in creditors
Net cash (outflow)/inflow from
operations		 2024
£
(11,047)
58,105
(8,758)

38,300		 2023
£
(40,109)
2
14,741
(25,366)

9

WORLD DEMENTIA COUNCIL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1. ACCOUNTING POLICIES

1.1 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.

1.2 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. The accounts are prepared in round pounds.

1.3 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.

10

WORLD DEMENTIA COUNCIL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1.4 Going Concern

The Trustees have reviewed the Charity’s financial position and forecast and have reasonable assurance that it has adequate resources to continue operating for at least the next 12 months. After considering potential risks and external factors, the Trustees are confident that the Charity will meet its obligations as they fall due, and therefore, the financial statements are prepared on a going concern basis.

1.5. 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.

1.6. 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.

1.7. 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.

1.8. 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.

1.9. Debtors

Aged and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid.

11

WORLD DEMENTIA COUNCIL NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

1.10. Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.11. Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the statement of financial activities as a finance cost.

1.12. 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.

12

WORLD DEMENTIA COUNCIL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

2. INCOME FROM CHARITABLE ACTIVITIES

Trust, foundations, and other grants
Trusts, foundations, and other grants		 Unrestricted
Restricted
2023
£
£
£
223,152
60,795
283,947
Un-
Restricted
2024
2023
Restricted
fund
Fund
£
£
208,051
115,267
323,318
283,947
208,051
115,267
323,318
283,947
223,152
60,795
283,947

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

13

WORLD DEMENTIA COUNCIL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

ANALYSIS OF EXPENDITURE

(a) Charitable Expenditure

Campaigns and advocacy
Awareness
Care & Research
Promote and charitable purposes and WDC Meetings
Cost Support
Total charitable expenditure		 Direct
costs
Support
costs
Total
2024
Total
2023
£
£
£
23,033
-
23,033
60,869
30,969
-
30,969
30,494
15,485
-
15,485
15,247
130,751
-
130,751
76,042
-
134,127
134,127
141,404
200,238
134,127
334,365
324,056
Campaigns and advocacy
Awareness
Care & Research
Promote other charitable purposes and
WDC Meetings
Cost Support
Total charitable expenditure		 Direct
costs
Support
costs
Total
2023
£
£
£
60,869
-
60,869
30,494
-
30,494
15,247
-
15,247
76,042
-
76,042
-
141,404
141,403
182,652
141,404
324,056

14

WORLD DEMENTIA COUNCIL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

(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		 Total
2024
£
Total
2023
£
36,708
32,519
28,053
36,241
6,195
5,282
42,570
45,123
1,078
983
5,397
6,552
9,309
8,828
2,700
2,220
358
358
1,759
3,298
134,127
141,404
(c)Governance included in support costs:
Remuneration paid to independent examiner for
-
Independent examination		 2024
2023
£
£
2,700
2,220
2,700
2,220

There has been an average of 2 (2023: 2) employees within the period. The total cost of consultants and recharged staff costs are included in the below:

echarged staff costs are included in the below:
2024 2023
£ £
Charitable Activities 176,170 121,858
Support Activities 28,053 36,241
204,223 158,099

15

WORLD DEMENTIA COUNCIL

FOR THE YEAR ENDED 31 MARCH 2024

NOTES TO THE FINANCIAL STATEMENTS

Wages and Salaries
Social Security Costs
Employer Pension Costs
Consultants and Recharged costs		 2024
£
2023
£
173,482
126,808
16,576
17,291
13,879
13,714
286
286
204,223
158,099

The trustees are considered to be the key management personnel.

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		 2024
2023
£
£
-
57,561
11,703
12,247
11,703
69,808


2024
2023
£
£
27,095
19,858
5,617
10,014
10,678
22,276
43,390
52,148

5. CREDITORS: amounts falling due within one year

16

WORLD DEMENTIA COUNCIL

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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		 Restricted
funds		 2024 2023
£ £ £ £
Brought forward funds 44,327 - 44,327 84,436
Income 208,051 115,267 323,318 283,947
Expenditure (219,098) (115,267) (334,365) (324,056)
Carried forward funds 33,280 - 33,280 44,327

17

WORLD DEMENTIA COUNCIL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

8. RELATED PARTY TRANSACTIONS

During the year the trustees did not receive any remuneration or reimbursed any expenses. Similarly, no remuneration or expense reimbursement was provided in the previous year.

WDC and Alzheimers Association are related parties due to Joanne Pike being the vice chair 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 (unrestricted)
Vradenburg Foundation
Home Instead
General donations
Restricted income – Alzheimer’s Drug Discovery Foundation
Restricted income – Alzheimer’s Society
Restricted income - Gates Ventures
Restricted income - AARP
Restricted income – Alzheimer’s Association (restricted)
Total		 2024
2023
£
£
156,852
81,959
51,155
83,631
-
57,561
44
-
19,694
40,804
20,182
20,016
20,046
19,991
28,279
-
27,065
-
323,318
283,946

At the year-end there were no balances owing from the above related entities. Similarly, no balances owing from the above related entities in the previous year.

9. OPERATING LEASE COMMITMENT

At 31 March 2024 WDC had future minimum lease payments which are as follows:

Land and buildings
Within 1 year
Within 2-5 years
Total		 2024
2023
£
£
37,440
18,655
37,440
18,655
74,880
37,310

Total rental expense for the period was £38,128 (2023: £34,097).

18

WORLD DEMENTIA COUNCIL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

10. 2023 STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted Restricted 2023
£ £ £
Income 223,152 60,795 283,947
Expenditure (263,262) (60,795) (324,056)
Net Expenditure (40,109) - (40,109)

19