**CHARITY NUMBER: 1197067** **TRUSTEES ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024** ## **THE MEMORY BOX FOUNDATION TRUSTEES ANNUAL REPORT - YEAR ENDED 31 MARCH 2024** ## **Introduction** The Trustees present their report and unaudited financial statements for the year ended 31 March 2024. The legal and administrative information set out on below forms part of this report. The financial statements comply with current statutory requirements, the CIO’s governing constitution, the requirements of the Charities Act 2011 and the Charities SORP (FRS 102). ## **Reference and Administrative Details** The CIO registered with the Charity Commission in England and Wales on 13[TH] December 2021 and commenced operation on 1 March 2022. The CIO was established under a governing constitution, which established the objects and powers of the CIO. **Registered Charity Number** 1197067 ## **Principal / Registered Address** Unit 310 Solent Business Centre 343 Millbrook Road West Southampton Hampshire SO15 0HW **Trustees during the year and to date** Mr Michael C Hodson (Chair) Ms Tracey Cotterill (Safeguarding Lead) Mrs Natalie Bale (resigned 30/04/2024) Mr Philip Grant **Bankers** Metro Bank Southampton City Branch Above Bar Street City Centre Southampton SO15 1QD **Accountants** Vivien White Rowles Accountancy Services Ltd Unit 104 Solent Business Centre 343 Millbrook Road West Southampton Hampshire SO15 0HW ## **THE MEMORY BOX FOUNDATION TRUSTEES ANNUAL REPORT - YEAR ENDED 31 MARCH 2024** ## **1. Structure Governance and Management Appointment** ## **1.1 Background** The Memory Box Foundation was established as an independent, not-for-profit CIO in December 2021 as a legacy charity of The Wessex Heritage Trust (1015271), with the operation of its flagship project, The Memory Box for People Living with Dementia, being transferred in March 2022. We currently have 1.8 full time paid members of staff. Our Head of Charity Services has a background in education, museums and reminiscence projects, whilst our Project Co-ordinator has 20+ years’ experience of working with the elderly and vulnerable. We have a Board of three Trustees who meet a minimum of three times a year, and bring the following supportive skills: - 25 years’ experience of working with our priority groups, - business management and development, - previous trustee experience. All trustees are expected to complete Safeguard training as part of their induction. ## **1.2 Retirement and Training of the Trustees** We have experienced one Trustee appointment, Mr Philip Grant, this year following the resignation of Mrs Natalie Bale as a result of her personal commitments. We are currently stable with our minimum of three trustees and hope to recruit one new trustee in the future. ## **1.3 Risk management** The Trustees are currently establishing a process for reviewing the key risks facing the charity and for ensuring that actions are taken to manage those risks. The Trustees have considered the major risks to which the charity is exposed, as set out in these reports, and are satisfied that systems and procedures are in place to manage those risks or that action is being taken to establish such systems and procedures. ## **1.4 Governance of the Charity** A two-year strategic plan has been drawn up and includes short term objectives. ## **2. Objectives of the Charity** ## **2.1 Our Charitable Aims** For the public benefit of persons located in the UK, but primarily in Hampshire, Dorset and Wiltshire, to advance the education and assist in the relief and improvement of health of those with mental health issues, dementia, or experiencing isolation or loneliness. The Trustees have all been informed of the guidance issued by the Charities Commission on public benefit. **THE MEMORY BOX FOUNDATION TRUSTEES ANNUAL REPORT - YEAR ENDED 31 MARCH 2024** ## **2.2 Our Objective** To improve the wellbeing of the Foundation’s beneficiaries and supporting them to live and age well through innovative projects involving social and local heritage interactions. ## **2.3 Our Vision** Together, we will support individuals and their communities to bring memories home by providing: - courses, activities, and projects utilising historical and heritage related themes. - intergenerational opportunities for young people to learn from older people and develop new skills. - education and training for carers and volunteers who work with older people and/or those with mental health issues on reminiscence therapy. ## **3. Achievements and Performance** The main activities that the Foundation provides in relation to those purposes for the public benefit are: - **The Memory Box Project** reminiscence loan box service for people living with dementia. - **The Memory Box Education Programme** which provides training in dementia awareness and facilitating reminiscence sessions. - **Pathways to Memories** is a weekly social group for residents in Christchurch, Dorset, who are experiencing loneliness or social isolation. Activities have a different reminiscence theme on a weekly basis. c - **The Memory Box Activity Magazine** - **The Memories, Tea & Me Project** which provides reminiscence for over 50s who experience loneliness, social isolation, or mental health issues. - **Reminisce with Me Dementia Awareness Training** is an intergenerational project that provide dementia awareness and reminiscence training for young people and forge links to residents in local care settings. During this reporting period the Memory Box Foundation has provided 22 care settings with reminiscence resources on a monthly basis under the Memory Box Project. Facilitated public reminiscence sessions under the Memories, Tea and Me Project have taken place in 22 locations including public libraries, Dementia Support Groups, day care settings, residential care homes, church groups, Mountbatten Hospice and the University Hospital Southampton. The latter project has been attended by 3146 participants. We have trained 33 staff from care homes and seven students from the University of Winchester in dementia awareness and reminiscence facilitation. The students completed this as a placement for a module in professional development and communication skills. Our partnership with the University is ongoing and we will be engaging with a new cohort in early 2025, funded by the University. Two hundred activity magazines written by the staff have been distributed each month. This has dropped from 350 per month in the previous reporting period due to a drop in funding. The Foundation has engaged with 127 young people aged between 6 and 9 years through the Reminisce with Me project. This was carried out at a primary school in Bournemouth to compliment the music and history curriculums and bring context to the children's learning. It concluded in a community tea party and reminiscence session. A small Dorset youth organisation also participated in this project. **THE MEMORY BOX FOUNDATION TRUSTEES ANNUAL REPORT - YEAR ENDED 31 MARCH 2024** Throughout the year the following working partnerships have been established or maintained: - Social Care in Action, Southampton - Romsey Dementia Action Group - Caraway - Dementia Friendly Hampshire - BCP Libraries - Hampshire Libraries - Hampshire Cultural Trust - Tricuro - University of Winchester ## **4. Financial Review** **4.1** The Charity has grown substantially during the year, but still requires more external funding to be selfsustaining. This poses the principal risk for the Charity as funding from the charitable funding sector is become more difficult to obtain. Fundraising activities at a local level have not been a major focus for the Charity, and therefore greater application needs to be made on creating income from a more diverse range of local funding sources and activities, together with working in partnership with other organisations. The charity’s principal sources of funds are: - Grants from local authorities - Grants from charitable organisations - Private individual donors - Corporate donors ## **4.2 Reserves Policy** The Charity has been substantially supported by an individual philanthropic supporter. Three months reserves are held at present and the trustees hope to see this continue to grow in the coming year. ## **4.3 Statement of Responsibilities of the Trustees** The trustees are responsible for preparing the Annual Report and the financial statements in accordance with the applicable law and the United Kingdom Generally Accepted Accounting Practice (UK GAAP). The Charities Act requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity at the end of the year and of the surplus or deficiency for the year then ended. In preparing those financial statements, the Trustees are required to: - select suitable accounting policies and then apply them consistently • make judgements and estimates that are reasonable and prudent - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and ## **THE MEMORY BOX FOUNDATION TRUSTEES ANNUAL REPORT - YEAR ENDED 31 MARCH 2024** • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011. The Trustees 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 and signed on their behalf by Michael C Hodson Chair of Trustees ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024** (Including Income and Expenditure Account) |**INCOME**
Donations and legacies
Interest
TOTAL INCOME
**EXPENDITURE**
Direct Charitable Expenditure
Employee Costs
Premises Costs
Admin Costs
Professional Fees
TOTAL EXPENDITURE
**NET INCOME FOR THE YEAR**|Unrestricted
Restricted
Total
Funds
Funds
2024
£
£
£
67,519
33,121
100,640
186
186
**67,705**
**33,121**
**100,826**
86
1,558
1,644
28,645
28,645
57,290
6,375
6,375
7,486
7,486
420
420
**43,012**
**30,203**
**73,215**
**24,693**
**2,918**
**27,611**| |---|---| The Statement of Financial Activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. ## **Declarations** **The trustees declare that they have approved the trustees’ report above.** **Signed on behalf of the charity’s trustees** |**Signature**
**Full name**
**Position**
**Date**|| |---|---| ||Michael C Hodson| ||Chair of Trustees| ||| ||17.12.2024| CHARITY COMMISSION FOR INGLAND AND bilALIS Receipts and payments accounts CC16a For the period from 0110412023 3110312024 Section A Receipts and payments Unrestricted funds Restricted fund¥ Endowment funds Totsl fundg Last year to th¢ n•arg$t to thè nbartst e to thk néarttst É tothi n*atè*t £ tothè nèarÈ$tÈ A1 Receipts Donations and legacies 100,826 60,679 Sub total(Gross incoine foi" ARI 67.705 33,121 laO,82é 8a.679 A2 Asset and inv85tment sales, (see lablel. Sub total Total re¢eipts 67.705 33.121 10Q,Y28 80,579 A3P rnÈnts 86 28 645 1 $$6 28 645 1.544 $7.290 6,375 606 66,603 7,374 4.467 Empltsyee knOSIS Prernise5 Ctssis 7486 420 Prof¢¥910￿1 fggs Sub total 43.012 30.203 73,215 7$,949 A4 Asset and investment purchases, l$ee t#blÈl Sub total Total payment5 43.012 30,203 73.215 78,949 Net of rèceipts/(paymenis) A5 Transfèrs betwe8n funds A6 Cash funds last year end Cash funds this year end 24,693 2.918 27,611 1,630 24.693 Z,91 27,611 1,630 CCXX Rl accounts15SI 0210912024 Section B Statement of assets and liabilities at the end of the period Unrestricted funds to Dearest£ Restricted funds to near9¥t t Endowment fund$ to n¢*re*t£ B1 Cash funds ank 24.693 1.918 Total cash funds 24,693 2,918 1ogre• balafflCes￿￿ rEC￿P1s￿￿u attourtUSII Unrestricted funds Restricted fund$ to nÈ4TeSl£ Endowment funds to nearest £ Dot311s Fund tD which asset belon Currgryt valu Details B3 Investment assets Fund io whle as8ot b•lon Curr•ntv4luè tltsnal ¢o¥t loptiOn•ii B4 A$$et$ rètsined for the ¢harity's own LFse Fund io whlch r8latwJ 14rnounl duÈ When due De1211s PAYE B5 Liabilities 675 Pension 253 Si9ned by one or Iwo iiusiee5 on Si9naiure Piint Name Dale of roval CCXX R2 accouftts1SSI 0210912024 Charity number 1197067 The Memory Box Foundation Reports 31 March 2024 The Memory Box Foundation Charity Number 1197067 PROFIT AND L055 ACCOUNT Year end 24 Year end 23 Donation5 Unrestrided Project cost Project Cost Unrestricted Interest Employers Nl Wa8es and Salaries PAYE Pension Travel and Subsistence Motor Expenses Entertainin8 Rent Rates -33120.5 -67518.83 IS57.81 85.9 -186.22 190 5S800 1299.6 -19S58 -61021 401 104 666Q3 2311.51 5421.72 392.49 561.03 140.18 16.12 3502.89 io 864.48 273.6 79.2 286.32 420 7374 Light and Heat Telephone Postage Stalionery and printing Subscriptions Insurance Computèr costs Website Software Accountaney fets 4467 -27611.2 -1630 8ank-43847031 Savers- 51334205 226.11 28346.22 1630 PAYE Wages Control Pension Liabiltv Profit and loss Blfvld -675.36 -252.7 -32.87 CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trustees | The Memory Box Foundation On accounts for the year ' 31° March 24 ended Charity no {if any) 1197067 Set out on pages I report to the trustees on my examination of the accounts of Ihe above charity I'the Trust } for the year ended 3110312024. Responsibilities and basis of report As the charty's trustees, 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 carried out under sèction 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 14515)Ib) of the Act. Independent I have completed my examination. I confimi that no material matters have examiner's statement come to my attention in connection with the examination (other than that disclosed below ") which gives me Cause to believe that in, any material respect.. the accounting records were not kept in accordance with section 130 of the Charities Act, or the accounts did not accord with the accounting records,. or the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities {Accounls 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 connedion 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. Please delete the words in the brackets if they do not apply. Signed: IsfLkn