**The Royal Surgical Aid Society** Operating as _Dementia Carers Count_ Company No. 00515174 (England and Wales) Charity Registered in England and Wales (no 216613) And in Scotland (C051929) **Trustees’ annual report and financial statements for the year ended 31 December 2022** **The Royal Surgical Aid Society** - operating as **Dementia Carers Count Trustees’ annual report For the Year to 31 December 2022** ## **Contents page** Contents page ......................................................................................................................................... 2 Company information ............................................................................................................................. 3 Trustees annual report ........................................................................................................................... 4 Independent auditor’s report to the members of the Royal Surgical Aid Society ................................ 13 Financial statements ............................................................................................................................. 18 2 **The Royal Surgical Aid Society** - operating as **Dementia Carers Count Trustees’ annual report For the Year to 31 December 2022** ## **Company information** |**Company information**|| |---|---| |Registered name:|The Royal Surgical Aid Society| |Operating name:|Dementia Carers Count| |Trustees and Board of Directors:|Catherine A'Bear (chair)| ||Raja Badrakalimuthu (appointed November 22)| ||Anthony Burch (resigned November 22)| ||William Burnand| ||Dean Cassar (appointed September 22)| ||Richard Drummond (resigned November 22)| ||Julie Flower| ||Darren Garner (resigned June 22)| ||David Goodridge| ||Darren Humphreys (resigned November 22)| ||Gaynor Hillier| ||Haider Husain| ||Liz Jones (appointed November 22)| ||Timothy Wells (appointed November 22)| |Chief Executive Officer:|Melanie Blanksby (Interim CEO)| |Company Secretary:|Tom Espley| |Registered Office:|CAN Mezzanine| ||7-14 Great Dover Street, London, SE1 4YR| |Auditors:|WMT Chartered Accountants| ||Verulam Point, Station Way, St Albans, AL1 5HE| |Bankers:|Barclays Bank PLC| ||1 Churchill Place, London, E14 5HP| |Investment Managers:|Sarasin and Partners LLP| ||Juxon House, 11 St. Paul's Churchyard, London,| ||EC4M 8BU| |Company number:|00515174| |Charity numbers:|216613 : Charity Commission, England and Wales| ||SCO51929 : Office of the Scottish Charity Regulator| |Website:|www.dementiacarers.org.uk| 3 **The Royal Surgical Aid Society** - operating as **Dementia Carers Count Trustees’ annual report For the Year to 31 December 2022** ## **Trustees annual report** ## Governance and structure The Trustees have pleasure in presenting their report and the audited financial statements of the Royal Surgical Aid Society for the year ended 31 December 2022. The accounts have been prepared in accordance with the Companies Act 2006, the accounting policies as disclosed in the notes and the charity's governing document. The Trustees have adopted the provisions of the Statement of Recommended Practice "Accounting and Reporting by Charities" ("FRS 102 SORP" (second edition)) in preparing the annual report and financial statements of The Royal Surgical Aid Society. The Royal Surgical Aid Society (operating as Dementia Carers Count) (the “charity”, “DCC” or “we”) is registered as a company limited by guarantee and governed by its articles of association. The articles were last amended on 6 July 2022. It is governed by the board of trustees. Trustees act as trustees under applicable Charity law and as directors under applicable company law. It is a charity registered with the Charity Commission, number 216613. Since August 2022 the charity is also registered with the Office of the Scottish Charity Regulator. The Trustees' Report also represents the directors' report required by Company Law. The articles dictate that anyone acting as a trustee of the charity is also a member of the charity for the duration of their trusteeship. While the charity’s articles allow for members who are not trustees, for the time being trustees are the only members. The trustees are responsible for the overall strategy and direction of the charity. The day to day running of the charity is delegated to the Chief Executive Officer (interim) and the Senior Leadership Team. There is one subsidiary company, which was inactive during the period. ## Trustees Trustees are recruited through open-source adverts and independent search processes, supported by external recruitment advisors, after job descriptions are prepared. These are informed by a skills-audit of the existing board. Trustees are appointed by a majority vote at a meeting of the board. All new trustees are offered a ‘buddy’ to assist their induction. Trustees have access to our Governance Handbook and to training where required. All trustees have committed to engaging with the Carers Advisory Panel. ## Carers advisory panel The Carers Advisory Panel advises and guides us on our strategy and operational development. Made up of current or former carers, the Carers Advisory Panel offers us real-life experience and perspective, so that we can fine tune our services and ensure we offer the best possible services to family carers of people with dementia. We are honoured that the Carers Advisory Panel offers us their expertise, knowledge and wisdom. ## Senior staff and pay policy. During 2021, DCC engaged an interim CEO when the incumbent, Claire Goodchild, was diagnosed with cancer before sadly dying in that year. Part of the interim CEO’s work has been to recruit and develop the senior leadership team. An interim Finance Director was replaced with a substantive post in 2022, and the team should be complete when a substantive CEO is recruited in spring/summer 2023. 4 **The Royal Surgical Aid Society** - operating as **Dementia Carers Count Trustees’ annual report For the Year to 31 December 2022** Senior management are remunerated in line with sector benchmarks and all senior staff appointments, pay and award changes are approved by the board. ## Public benefit The trustees have considered the Charity Commission’s general guidance on public benefit, including its guidance “Public Benefit: Running A Charity (PB2)” when reviewing the charity’s aim and objectives and planning future activities. We aim to structure our business model so that we can fully fulfil our charitable purpose and make our ground-breaking services accessible to everyone who will find benefit in participating in them. ## History The Royal Surgical Aid Society (RSAS) was established in 1862 to provide surgical aids for the poor, funded through subscriptions from philanthropists and industrialists who referred their workforce to the charity. The advent of the NHS meant that the state took responsibility for the provision of such services. In the early 1950s, the trustees took the opportunity to divert the charity’s investments to provide care homes for older people. In 2012, at the charity’s 150th anniversary, our board agreed that our future focus should be on supporting family carers of people with dementia. This decision emerged from the findings from several commissioned pieces of research to advise on the state of services for our aging population. In June 2018, Dementia Carers Count was adopted as the working name for the Royal Surgical Aid Society to reflect this renewed mission and purpose. The purposes of the charity as set out in its governing document are: _the relief of need and the promotion of health and wellbeing among persons affected by dementia and other degenerative neurological disorders, including carers of people with dementia and such disorders, their families and friends, particularly but not exclusively by:_ - _providing education and skills training, advice and information, support and therapeutic services to such persons;_ - _advancing research into the needs of such persons; and_ - _exploiting the useful results of such research to enhance the quality of life of such persons and improve the support and other services available to them._ ## Vision, mission and strategy ## Vision To empower families living with dementia to feel confident, supported, and heard. ## Mission To fill the gap in support for families living with dementia; listening, supporting and making a tangible difference to their lives. Through our programme of insight work, policy & campaigning, we work to better understand and support family carers’ needs. In turn, we design services that are accessible to each and every family dementia carer, connecting them with our health and care professionals, as well as with other carers. ## Strategy DCC strategic objectives for the period 2022-26 were approved in November 2021 and are : 5 **The Royal Surgical Aid Society** - operating as **Dementia Carers Count Trustees’ annual report For the Year to 31 December 2022** ## **1. Significantly increasing carer reach and inclusivity** We have brought forward our reach targets from 2024 to demonstrate the ability to deliver our charitable purpose, used evidence-based services to inform the organisation and drive its USP, including conducting research to inform our Equality, Diversity and Inclusion strategy. ## **2. Achieving a stronger voice; Investment in policy & campaigns** We will aim to increase awareness about the challenges that family carers face, working with government, the general public and the third sector, and to cement our position as the expert in family dementia care. ## **3. Investigating innovative new routes to market** We will drive accelerated service reach and use funding opportunities to provide new routes to market, including partnerships and joint ventures, as well as marketing campaigns with these specific objectives in mind. ## **4. Moving to financial sustainability** We will focus on increasing our income generation including commissioned and commercial services, managing our operating costs and looking to increase our investment returns so that at the end of this strategic period, we can deliver sustainable financial surpluses that in turn allow us to further our purpose. ## Activities and achievements in 2022 2022 has been the first full year of delivering on our strategy for 2022-26. Highlights of our activities and achievements for the year include that we: - Reached a total of 130,000 carers digitally; significantly exceeding our target of 14,500 - Launched a free 24/7 Text Service to support carers in crisis - Launched a Carers Support Line offering free and confidential advice on practical, emotional and financial support issues - Expanded our partnership work and delivered more face-to-face offers to carers in community settings - Increased the range of commissioned services and secured £48K of earned income - Strengthened our portfolio of service offers through the development of on-demand content - Significantly increased the range of our digital output through the delivery of more informal and engaging live social media content, including Facebook Live - Co-created and successfully delivered a Plan of Action to address the main findings of the EDI audit - Built new teams in Communications & Marketing, Income Generation, HR & Operations - Completed a survey of over 400 family dementia carers to further shape and inform our work - Completed a staff wellbeing survey - Recruited 4 new trustees 6 **The Royal Surgical Aid Society** - operating as **Dementia Carers Count Trustees’ annual report For the Year to 31 December 2022** ## Plans for the future Moving into 2023, DCC remains committed to its strategic priorities outlined above. Within these objectives the charity has identified specific threads to draw out for 2023 as follows : ## Carer focus: To respond to what carers tell us they want and need We plan to improve accessibility for carers by broadening the range of services – such as expanding the 0800 carer support telephone line , adapting formats and ensuring that our services are offered at a range of times. We will invest time in listening to carers, and to make more inclusive and accessible offers, as well as finding ways to measure and explain the difference our work makes. We have planned significant investment in a new website, which will improve the experience for carers able to access online support and information. ## Organisation focus: Financial sustainability & efficiency We expect to further increase our income - achieving over £300k of income from fundraising and delivery of charitable services over 2023. In addition, we aim to increase our efficiency through improved processes and ways of working. Underpinning both of these is improved communication to support increased awareness of DCC; both among carers and potential partners. Increased awareness of the charity will in turn help to grow income and beneficiary numbers. ## Volunteers In addition to the Carers Advisory Panel and the trustees - all of whom are volunteers - we also benefit from a dedicated group of volunteers who support the charity through formal and informal fundraising, community events and assisting the charity to raise awareness of its services. A group of circa 75 ‘Ambassadors’ deserves special recognition for their support during 2022 in promoting, fundraising for, and advocating for our charity and for family dementia carers more widely. In 2023 we will be relaunching the volunteer programme to make it more wide-ranging, inclusive, and accessible; so that whatever time, skills or experience an individual may have, they will be able to contribute. ## Equality, diversity & inclusion DCC is committed to equality diversity and inclusion and recognises the importance of making its services accessible and relevant to all, and having a diverse and inclusive workforce. You can read more about diversity, inclusion and belonging at DCC on our website. During 2022, DCC’s programme of activities to support this commitment included the following: - All staff attending Equality, Diversity and Inclusion (EDI) foundation training - Reviewing and updating our policies and practices, resulting in achieving the ‘ClearAssured’ bronze accreditation on inclusion from the Clear Company (an external advisor) - Working much harder to find and connect with different groups of carers. And to work in partnership to meet their needs - Forming a cross-organisational EDI working group - Ensuring our recruitment of trustees is inclusive and attracts a wide range of applicants 7 **The Royal Surgical Aid Society** - operating as **Dementia Carers Count Trustees’ annual report For the Year to 31 December 2022** - Working to better understand the needs of a wide range of family carers so we can tailor our services and meet people ‘where they are’ - Reviewing carer data to help us identify our gaps - Encouraging the voluntary use of pronouns by the DCC team – for example in email signatures, biographies on the website and LinkedIn profiles. During 2023, we will continue this work, and have identified a dedicated budget to enable initiatives which help our services more accessible and relevant to diverse communities. ## Income Generation 2022 has been a year of growth and development. Fundraising is still a challenging endeavour for many charities. As the country experienced the tail end of restrictions caused by the Covid pandemic, society faced new problems caused by the war in Ukraine. Rocketing inflation and a steep rise in the cost of living meant many charities faced a reduction in donations or very limited growth. Against this background, Dementia Carers Count raised £111k in donations, grants and commercial activity. Generating income is vital for the sustainability of all charities. This is still a relatively new activity for Dementia Carers Count and requires further development. With that aim, the trustees approved additional investment in income generation. Four new team members were recruited during the first half of 2022 to generate funds for DCC. This included developing new commercial activities and providing chargeable services to companies and other organisations. The surplus from this new income stream will help to fund the charitable activities of Dementia Carers Count. Income generation and fundraising activities at DCC are carried out under the close scrutiny of senior managers and trustees. We are members of the Fundraising Standards Board and follow their Code of Fundraising Practice. No complaints were received in respect of the charity’s fundraising operations in the year. ## Safeguarding policy statement Dementia Carers Count is committed to safeguarding vulnerable people in line with national legislation and guidance. We are committed to best safeguarding practice across our operations, and this extends to recognising and reporting harm experienced within the workplace, online, in people’s homes or through our community engagement, partnerships, or wider business activities. DCC is committed to creating a culture of zero-tolerance of harm to everyone who works for, or comes into contact with, the charity. ## Policy Statement - DCC believes everyone has the right to live free from abuse or neglect regardless of age, - ability or disability, sex, race, religion, ethnic origin, sexual orientation, socio-economic, marital or gender status. - DCC is committed to creating and maintaining a safe and positive environment and an open, listening culture where people feel able to share concerns without fear of retribution. - DCC acknowledges that safeguarding is everybody’s responsibility and is committed to prevent abuse, including neglect through safeguarding the welfare of everyone working with, or connected to, the charity. - DCC recognises that health, well-being, ability, disability and need for care and support can affect a person’s resilience. We recognise that some people experience barriers, for 8 **The Royal Surgical Aid Society** - operating as **Dementia Carers Count Trustees’ annual report For the Year to 31 December 2022** - example, to communication in raising concerns or seeking help. We recognise that these factors can vary at different points in people’s lives. - DCC recognises that there is a legal framework within which we need to work to safeguard adults who have needs for care and support and for protecting those who are unable to take action to protect themselves. We will always act in accordance with the relevant safeguarding legislation and follow local statutory safeguarding procedures. - Actions taken by DCC will be consistent with the principles of safeguarding ensuring that any action taken is prompt, proportionate and that it includes and respects the voice of the individual/s concerned. ## Financial review The charity is in a strong financial position as at 31 December 2022, with net assets of £7,305k (2021 - £9,782k). Income from donations, grants and legacies was £63k (2021-£375k) In 2021, the amount included a single legacy of £267k. In addition, the charity has secured further £48k income for delivery of charitable activities. The charity has identified commercial and commissioned work to be an opportunity for growth, and we hope to increase this further in future years. This income, together with £235k (2021 - £243k) of income from investments, supported the operations of the charity. Overall, £1,679k (2021 - £1,272k) was spent by the organisation to deliver the services in the year, to invest in the organisation and prepare for planned growth in the following years. The wider economic outlook has had a significant impact on DCC’s investment reserves, with a loss of £1,144k in the value of these over the year. Overall, this resulted in a net decrease in funds of £2,477k, (2021-£203k) with the overall net assets having reduced from £9,782k to £7,305k. ## Investments Under the Memorandum and Articles of Association, the charity has the power to make any investment that the trustees see fit, after obtaining advice from a financial expert. The current policy of the DCC is to invest long term funds with the aim of achieving growth in excess of inflation, while holding shorter term funds with minimal risk, to meet cashflow requirements. Investment performance and strategies are reviewed at the Finance, Audit and Risk Committee, and Board meetings, and the investment policy reviewed at least annually. As at 31 December 2022, the charity has £6.2m of its total £6.3m investments in the Sarasin Endowments Fund, the performance of which is as follows: |||Our|Portfolio| |---|---|---|---| |||Portfolio|Benchmark| |Performance over|the 12 months to December 2022|-9.7%|-6.9%| |Performance over|3 years to December 2022 (annualised)|3.0%|4.1%| |Performance over|5 years to December 2022 (annualised)|4.7%|4.9%| The benchmark is based upon a combination of figures, derived from the long-term strategic asset allocation within the fund. 9 **The Royal Surgical Aid Society** - operating as **Dementia Carers Count Trustees’ annual report For the Year to 31 December 2022** The funds make no investment in tobacco manufacturers and avoid investments in companies that earn more than 10% of their turnover from alcohol manufacture, armaments, gambling, or pornography. ## Key risks and uncertainties The Finance, Audit & Risk Committee is responsible for considering the risk management framework for the organisation, reporting exceptions to the board. The principal risks facing the charity as at December 2022, and the policies and procedures in place to mitigate them, were as follows: **Income:** Risk that DCC income does not increase in line with the current plans. This is mitigated by: - Development and approval of income generation strategy and plans - An active income generation sub-committee of the board who review income **Uptake** : Risk that carers do not engage with/take up the services we offer. This is mitigated by: - Development of an outcomes framework to ensure our services improve outcomes - Carrying out insight work to better understand carer needs **Brand awareness:** Risk that DCC’s brand is not sufficiently well known to support both reach and fundraising potential. This is mitigated by: - An increase in the marketing team people and expenditure over 2022 and into 2023, with planned activities focusing on increased brand awareness. ## Reserves In 2012 the charity was running care homes and operating as AgeCare. In that year the trustees decided to sell all of these homes and embark on a new direction, providing services to family carers of those living with dementia. This new venture was to be financed by the proceeds of the sale of care homes. It is the trustees’ policy that the funds be invested in these services so as to provide long term financial sustainability for the charity. Total funds held at the end of the reporting period were £7,305k. Of this, £27k are restricted. The trustees have designated £4,385 for the following purposes: - _Service delivery - £2,792k_ To support the ongoing consistent delivery of DCC's services until the organisation becomes financially self-sustaining - _Service development - £1,197k_ To pay for investment in services and organisational infrastructure that will improve DCC's reach and impact - _Income generation £396k_ To allow an initial investment into income generation activities until such time as those activities cover their costs This leaves an amount of £2,893k which are free reserves, equivalent to 21 month’s expenditure based on costs in 2022. The designated funds, once anticipated income is included, are sufficient to cover ongoing costs of the organisation for the next 5 years. However, the principal scenario foresees non-investment income increasing ten-fold over the next 5 years. Given the risk that income will be less than forecast, as well as wider financial uncertainty, this general reserve gives the charity flexibility to 10 **The Royal Surgical Aid Society** - operating as **Dementia Carers Count Trustees’ annual report For the Year to 31 December 2022** sustain itself in the event of an adverse financial situation. The trustees consider the amount of free reserves to be an appropriate amount. ## Statement of trustee responsibilities The trustees (who are also the directors for the purpose of company law) are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations. Company law requires the trustees to prepare financial statements for each financial year. Under that law the trustees must prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to: - a) select suitable accounting policies and then apply them consistently; - b) observe the methods and principles in the Charities SORP; - c) make judgments and accounting estimates that are reasonable and prudent; - d) state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - e) prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue to operate. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. The trustees confirm that so far as they are aware, there is no relevant audit information (as defined by section 418(3) of the Companies Act 2006) of which the charitable company’s auditors are unaware. They have taken all the steps that they ought to have taken as trustees in order to make themselves aware of any relevant audit information and to establish that the charitable company's auditors are aware of that information. 11 **The Royal Surgical Aid Society** - operating as **Dementia Carers Count Trustees’ annual report For the Year to 31 December 2022** ## Signature This report has been prepared in accordance with the special provisions relating to small companies within part 15 of the Companies Act 2006. The trustees’ Annual Report was approved by the board of trustees on 17 May 2022 and signed on its behalf by: David GoodridgeDavid Goodridge (May 23, 2023 08:22 GMT+1) May 23, 2023 Signature : __________________ Date : Name / Position: David Goodridge / Trustee 12 **The Royal Surgical Aid Society** - operating as **Dementia Carers Count Trustees’ annual report For the Year to 31 December 2022** ## **Independent auditor’s report to the members of the Royal Surgical Aid Society** ## **Opinion** We have audited the financial statements of The Royal Surgical Aid Society (‘the charitable company’) for the year ended 31 December 2022 which comprise the Statement of Financial Activities (incorporating the Summary Income and Expenditure Account), the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the charitable company’s affairs as at 31 December 2022 and of the incoming resources and application of resources, including its income and expenditure, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the Companies Act 2006 and the Charities and Trustee Investment (Scotland) Act 2005 and Regulation 8 of the Charities Accounts (Scotland) Regulations 2006. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs(UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 13 **The Royal Surgical Aid Society** - operating as **Dementia Carers Count Trustees’ annual report For the Year to 31 December 2022** ## **Other information** The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. ## **Opinions on other matters prescribed by the Companies Act 2006** In our opinion, based on the work undertaken in the course of the audit: - the information given in the trustees’ annual report for the financial year for which the financial statements are prepared is consistent with the financial statements; and - the trustees’ annual report have been prepared in accordance with applicable legal requirements. ## **Matters on which we are required to report by exception** In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report. We have nothing to report in respect of the following matters where the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 require us to report to you if, in our opinion: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of trustees’ remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit; or - • the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies exemption in preparing the trustees’ annual report and from preparing a strategic report. ## **Responsibilities of trustees** As explained more fully in the trustees’ responsibilities statement set out on page 11, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the 14 **The Royal Surgical Aid Society** - operating as **Dementia Carers Count Trustees’ annual report For the Year to 31 December 2022** preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. ## **Auditor’s responsibilities for the audit of the financial statements** Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the effectiveness of the charitable company’s internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. - Conclude on the appropriateness of the trustees’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charitable company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charitable company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. - Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the charitable company to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the audit. We remain solely responsible for our audit report. 15 **The Royal Surgical Aid Society** - operating as **Dementia Carers Count Trustees’ annual report For the Year to 31 December 2022** We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. ## **Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud** Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. Discussions with and enquiries of management and those charged with governance were held with a view to identifying those laws and regulations that could be expected to have a material impact on the financial statements. During the engagement team briefing, the outcomes of these discussions and enquiries were shared with the team, as well as consideration as to where and how fraud may occur in the entity. The following laws and regulations were identified as being of significance to the entity: - Those laws and regulations considered to have a direct effect on the financial statements include UK financial reporting standards, Company Law, Tax and Pensions legislation, and the Charity SORP. - Those laws and regulations for which non-compliance may be fundamental to the operating aspects of the business and therefore may have a material effect on the financial statements include health and safety legislation, employment law and data protection. Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and non-compliance with laws and regulations) comprised of: inquiries of management and those charged with governance as to whether the entity complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims ; inspection of relevant legal correspondence; review of board minutes; testing the appropriateness of journal entries; and the performance of analytical review to identify unexpected movements in account balances which may be indicative of fraud. No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity’s controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK). ## **Use of our report** This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable company’s trustees, as a body, in 16 **The Royal Surgical Aid Society** - operating as **Dementia Carers Count Trustees’ annual report For the Year to 31 December 2022** accordance with Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable company’s members and trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to any party other than the charitable company, the charitable company's members as a body and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed. ## Elizabeth Wicks Elizabeth Wicks (May 24, 2023 10:52 GMT+1) **Elizabeth Wicks (Senior Statutory Auditor)** **Date** for and on behalf of WMT Chartered Accountants & Statutory Auditors Verulam Point, Station Way, St Albans, Hertfordshire, AL1 5HE WMT is eligible to act as auditor in terms of Section 1212 of the Companies Act 2006. 17 **The Royal Surgical Aid Society Statement of Financial Activities** ## **(incorporating income and expenditure account) for the year ended 31 December 2022** |**Note**
**Income and Endowments:**
Donations and legacies
**2**
Income from Charitable Activities
**3**
Investment income
**4**
**Total Income**
**Expenditure:**
**5**
**Charitable activites**
**5**
**Total Expenditure**
**5**
**Net gains on investments**
**12**
**Net Expenditure**
Gross transfers between funds
**Net movement in funds**
Total funds brought forward
**16**
**Total funds carried forward**
**16**
Raising Funds
Service Development and delivery|**Unrestricted**
**Funds**
**£'000s**
31
23
235
**289**
526
1,123
**1,649**
**(1,144)**
**(2,504)**
-
**(2,504)**
9,782
**7,278**|**Restricted**
**Funds**
**£'000s**
32
25
-
**57**
-
30
**30**
**-**
**27**
-
**27**
-
**27**|**Total**
**2022**
**£'000s**
63
48
235
**346**
526
1,153
**1,679**
**(1,144)**
**(2,477)**
-
**(2,477)**
9,782
**7,305**|**Total**
**2021**
**£'000s**
375
-
243| |---|---|---|---|---| |||||**618**| |||||21
1,251| |||||**1,272**| |||||**452**
**(203)**
-| |||||**(203)**
9,985| |||||**9,782**| All amounts reported relate to continuing activities. All recognised gains and losses are included in the Statement of Financial Activities. The notes at pages 21 to 33 form part of these accounts Company number 00515174 - 18 - ## **The Royal Surgical Aid Society Balance Sheet** ## **as at 31 December 2022** |**Note**
**Fixed Assets**
Intangible fixed assets
**10**
Tangible fixed assets
**11**
Investments
**12**
**Current Assets**
Debtors
**13**
Cash at bank and in hand
**14**
**Net Current Assets**
**Net Assets**
**Funds**
Unrestricted Funds:
Designated funds
**16**
General fund
**16**
Restricted Funds:
**16**
**Total Funds**
**17**
**Creditors: Amounts Falling**
**due within one year**|**2022**
**£'000s**
26
1,043
1,069
(126)|**2022**
**2021**
**£'000s**
**£'000s**
-
18
6,344
6,362
31
325
356
(89)
943
**7,305**
4,385
2,893
27
**7,305**|**2021**
**£'000s**
2
6
9,507| |---|---|---|---| ||||9,516
267| ||||**9,782**| ||||9,098
684
-| ||||**9,782**| These financial statements are prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. The notes at pages 21 to 33 form part of these accounts Approved and authorised by the Board on 17 May 2023 and signed on their behalf by: May 22, 2023 Catherine A'Bear (May 22, 2023 16:14 GMT+1) Name : Catherine A'Bear Date: Company number: 00515174 - 19 - ## **The Royal Surgical Aid Society Statement of Cashflows for the year ended 31 December 2022** |**Note**
**2,022**
**£'000s**
**Cash generated from operating activities**
Net cash provided by operating activities
**21**
(1,521)
**Cash flows from investing activities**
Investment income received
235
Purchase of property, plant and equipment
(15)
Additions of investments
(1,442)
Disposal proceeds of investments
3,461
**Net cash provided by / (used in) investing activities**
**2,239**
**Change in cash and cash equivalents in the reporting period**
**718**
Cash and cash equivalents at the beginning of the reporting period
325
**Cash and cash equivalents at the end of the reporting period**
**1,043**
**Analysis of cash and cash equivalents**
Cash at bank and in hand
291
Short term Deposits
752
**Total cash and cash equivalents**
**1,043**
**Analysis of changes in net debt**
**01-Jan-22**
**Cash Flows**
**£'000s**
**£'000s**
Cash
325
718
Loans falling due within one year
-
-
Loans falling due after more than one year
-
-
**325**
**718**|**2021**
**£'000s**
(864)
243
(8)
(228)
602| |---|---| ||**609**| ||**(255)**
580| ||**325**| ||**2021**
**£'000s**
325
-| ||**325**| ||**31-Dec-22**
**£'000s**
1,043
-
-| ||**1,043**| Company number 00515174 - 20 - **The Royal Surgical Aid Society Notes to the Financial Statements** **for the year ended 31 December 2022** ## **1 Accounting Policies** ## **Company Information** The Royal Surgical Aid Society is a private company limited by guarantee incorporated in England and Wales under the Companies Act 2006. The address of the registered office is CAN Mezzanine, 7-14 Great Dover Street, London, SE1 4YR. The nature of the company's operations in the year are stated in the Trustee's Report. The company's registration number is 00515174. ## **Basis of Accounting** These financial statements have been prepared on a going concern basis, under the historical cost convention modified for investments which are accounted for at market value. The financial statements have been prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £1,000. The financial statements of the charitable company have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102). The charitable company is a public benefit entity for the purposes of FRS102 and a registered charity established as a company limited by guarantee and therefore has also prepared its financial statements in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (The FRS102 Charities SORP), the Companies Act 2006 and the Charities Act 2011. The Trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charitable company to continue as a going concern. Based on the reserves held, the operating model, an assessment of risks, and forward looking budgets, the Trustees are comfortable that the charity is adequately resourced to continue in operation for the foreseeable future. At the date of sign off, the Trustees confirm there are no material uncertainties in relation to the going concern assumption. The charitable company therefore continues to adopt the going concern basis in preparing its financial statements. The principal accounting policies adopted in the preparation of the financial statements are set out below: ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to income, the economic benefit is probable and the amount can be reliably estimated. The following accounting policies are applied to income: ## **Donations and Legacies** Legacies and donations are accounted for and recognised when the charity becomes entitled to them, when the receipt is probable and when the amount can be measured reliably. ## **Grant income** Grants are accounted for on a receivables basis, when there is entitlement to the income, it can be measured reliably and the receipt is probable. ## **Investment Income** Investment income is accounted for when it becomes receivable. ## **Other Income** Other income is accounted for on an accruals basis ## **Expenditure** All expenditure is recognised in the Statement of Financial Activities (SOFA) when the services or goods have been received by the year end. Company number 00515174 - 21 - ## **The Royal Surgical Aid Society Notes to the Financial Statements** ## **for the year ended 31 December 2022** ## **Fundraising and Publicity** Fundraising and publicity costs represent expenditure relating to the fundraising department. ## **Charitable Expenditure and Allocation of Costs** Resources expended are accounted for on an accruals basis. All costs are allocated between expense categories in the SOFA on a basis that reflects the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on a direct cost basis. ## **Governance** Governance costs comprise the cost of running the charity, including external audit, Trustees' legal advice and constitutional and statutory compliance costs. ## **Fund Accounting** The charity maintains various types of funds as follows: ## **Unrestricted Funds** General unrestricted funds represent funds which are expendable at the discretion of the Trustees in the furtherance of the objects of the charity. Such funds may be held in order to finance both working capital and capital investment. Designated funds are amounts which have been put aside at the discretion of the Trustees in order to support the charities long term plans. ## **Restricted Funds** Restricted funds are funds that are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The aim and use of each restricted fund is set out in note 16. ## **Operating Leases** Operating lease costs are charged to the statement of financial activities on a straight line basis over the period of the lease. All operating leases were in respect of office and archive space. ## **Employee benefits** ## **i. Short term benefits** Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received. ## **ii. Pension Costs** The Society operates a defined contribution pension scheme. Contributions are charged to the statement of financial activities in the year in which they fall due. At the year end contributions totalling £6,347 (2021: £3,144) were outstanding. ## **Fixed Assets and Depreciation** Fixed assets are included in the financial statements at their cost, less accumulated depreciation. Depreciation is provided on all other assets to write off the cost or valuation of each asset over its estimated useful economic life as follows: Furniture and fittings: - 20% per annum on a straight line basis Computer equipment - 33% per annum on a straight line basis Individual items costing less than £1,000 are written off as an expense on acquisition. Company number 00515174 - 22 - ## **The Royal Surgical Aid Society Notes to the Financial Statements** ## **for the year ended 31 December 2022** ## **Intangible Assets and Amortisation** Intangible assets are included in the financial statements at their cost, less accumulated amortisation. Amortisation is provided on all other assets to write off the cost or valuation of each asset over its estimated useful economic life as follows: Systems and software development - 33% per annum on a straight line basis ## **Investments** Investments are stated at market value. Dividends, other investment income and interest are accounted for on a receivable basis. Realised and unrealised gains and losses are shown as 'net gains/(losses) on investments' in the Statement of Financial Activites. ## **Cash and Cash Equivalents** Cash and cash equivalents include cash and cash at banks and in hand and short term deposits with a maturity date of three months of less. ## **Debtors and Creditors** Debtors or creditors receivable or payable within one year of the reporting date are claimed at their transaction price. Debits and credits that are receivable or payable in more than one year and not subject to a market rate of interest are measured at the present value of the expected future receipts or payments discounted at a market rate of interest. ## **Financial instruments** The Company only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. ## **Critical accounting estimates and areas of judgement** In preparing financial statements it is necessary to make certain judgements, estimates and assumptions that affect the amounts recognised in the financial statements. In the view of the Trustees in applying the accounting policies adopted, no judgements were required that have a significant effect on the amounts recognised in the financial statements nor do any estimates or assumptions made carry a significant risk of material adjustment in the next financial year. Company number 00515174 - 23 - ## **The Royal Surgical Aid Society Notes to the Financial Statements** ## **for the year ended 31 December 2022** |**2**
**Donations and legacies**
Legacies
Donations
Grants|**Unrestricted**
**£'000s**
-
20
11
31|**Restricted**
**£'000s**
-
-
32
32|**2022**
**£'000s**
-
20
43
63|**2021**
**£'000s**
268
42
65| |---|---|---|---|---| |||||375| All of current year and prior year donations and legacy income is unrestricted. Of Grant income reported above £11k is attibutable to unrestricted (2021: £15k) and £32k attributable to restricted funds (2021: £50k) ## **3 Income from Charitable Activities** |Individual and group support to dementia-carers|**Unrestricted**
**£'000s**
23
23|**Restricted**
**£'000s**
25
25|**2022**
**£'000s**
48
48|**2021**
**£'000s**
-| |---|---|---|---|---| |||||-| ## **4 Investment Income** UK investment income and bank interest |**2022**
**£'000s**
235
235|**2021**
**£'000s**
243| |---|---| ||243| All investment income is derived from quoted investments listed on the London Stock Exchange or unit trusts which are UK based. All of current year and prior year investment income is attributable to unrestricted funds. ## **5 Expenditure** |**Year to 31 December 2022**
**Charitable activites**
Service Development & delivery
**Cost of generating funds**
Finance costs
Fundraising
Investment management fees
**Total expenditure**
**Year to 31 December 2021**
**Charitable activites**
Service Development & delivery
**Cost of generating funds**
Finance costs
Fundraising
**Total expenditure**|**Staff**
**Costs**
**£'000s**
336
-
130
-
130
**466**
**Staff**
**Costs**
**£'000s**
348
-
-
-
**348**|**Other**
**Costs**
**£'000s**
106
-
16
46
62
**168**
**Other**
**Costs**
**£'000s**
40
5
17
22
**62**|**Support**
**Costs**
**£'000s**
711
-
334
-
334
**1,045**
**Support**
**Costs**
**£'000s**
862
-
-
-
**862**|**2022**
**Total**
**£'000s**
1,153| |---|---|---|---|---| |||||-
480
46| |||||526| |||||| |||||**1,679**| |||||**2021**
**Total**
**£'000s**
1,250| |||||5
17| |||||22| |||||| |||||**1,272**| The expenditure for 2021 reported above has been restated to separately disclose the amount spent on support costs. |The expenditure reported above is attributable to funds as follows :
Attributable to restricted funds
Attributable to unrestricted funds|**2022**
**£'000s**
30
1,649
1,679|**2021**
**£'000s**
50
1,222| |---|---|---| |||1,272| Company number 00515174 - 24 - ## **The Royal Surgical Aid Society Notes to the Financial Statements** ## **for the year ended 31 December 2022** ## **6 Support costs** |||| |---|---|---| |**Support costs**
Wages, salaries and consultants
Other costs
Governance costs
**Staff Costs**
Wages and salaries
Social security costs
Pension costs
Other staff costs|**2022**
**£'000s**
702
326
17
1,045
**2022**
**£'000s**
808
90
26
244
1,168|**2021**
**£'000s**
622
227
13| |||862| |||**2021**
**£'000s**
508
54
18
214| |||794| ## **7 Staff Costs** Included within other staff costs are payments made to individuals who are not employees of the Society but who are contracted for services, amounting to £244k (2021: £214k) |**Analysis of staff employed during the year**
Service Development & Delivery
Fundraising
Leadership and central functions
Marketing and communications
Average number of staff employed during the year
Of these staff, the number of part time employees, working less than 35 hours per week is|**2022**
8
3
7
4
22
11|**2021**
5
3
5
-| |---|---|---| |||13| |||6| ## **Key management personnel** After personnel changes in 2021 the charity's definition of Key Management Personnel has been expanded to include the Trustees, and all the senior leadership team. Previously only the Trustees and CEO were included within the definition. The senior leadership team consists of the CEO and 4 x Directors : Services, Marketing & Communications, Development & Income Generation and Finance & Resources. Total benefits paid to key management personnel |**2022**|**2021**| |---|---| |**£'000s**|**£'000s**| |377
|432| The benefits include salaries, social security and pension contributions, fees paid to personnel acting in a freelance capacity and fees paid to agencies where interim personnel were engaged through an intermediary. The figure for 2021 given here has been amended, compared to the figure given in the 2021 financial statements, to reflect the expanded definition. Further information on the changes to the key management personnel is included in the trustees' report. ## **Number of employees that earned in the period:** ||||| |---|---|---|---| |**Number**|**of employees that earned in the period:**|**2022**|**2021**| |£60,000|- £69,000|1|2| |£70,000|- £79,000|2|1| |£80,000|- £89,999|-|-| Retirement benefits totalling £8,115 (2021: £10,807) were paid to a defined contribution scheme on behalf of the higher paid members of staff disclosed above. None of the trustees received remuneration or benefits in 2022 or 2021. Travelling expenses of £814 (2021: £965) were reimbursed to 4 Trustees (2021: 7) Company number 00515174 - 25 - ## **The Royal Surgical Aid Society Notes to the Financial Statements for the year ended 31 December 2022** - **8 Net Expenditure** |||| |---|---|---| |**Net Expenditure**|**2022**|**2021**| ||**£'000s**|**£'000s**| |Net expenditure for the financial period is stated after charging:||| |Auditor's remuneration (gross of VAT)||| |Audit fees|16|14| |Other services|4|2| Audit fees charged in respect of the new auditor were £14,100 (2021: £nil). Audit fees paid to the previous auditor were £2,060 (2021: £14,000). Tax advisory fees paid to the previous auditor were £4,130 (2021: £2,400). ## **9 Financing Costs** |**9**
**Financing Costs**
Bank charges
**10**
**Intangible Fixed Assets**
**Cost**
At 1st January 2022
Additions
Disposals
As at 31 December 2022
**Depreciation**
At 1st January 2022
Charge for year
Eliminated on disposal
As at 31 December 2022
**Net Book Value**
At 1st January 2022
As at 31 December 2022|**2022**
**2021**
**£'000s**
**£'000s**
-
5
-
5
**2022**
**£'000s**
78
-
-
78
76
2
-
78
2
-
**Systems**
**Development**|**2021**
**£'000s**
5| |---|---|---| |||5| |||78| |||76
2
-| |||78| |||2| |||-| Intangible assets represent costs associated to the development of DCC Website (CMS) and Customer Relationship Management systems. ## **11 Tangible Fixed Assets** |**Tangible Fixed Assets**|| |---|---| |**Cost**
At 1st January 2022
Additions
Disposals
As at 31 December 2022
**Depreciation**
At 1st January 2022
Charge for year
Elimination on disposals
As at 31 December 2022
**Net Book Value**
At 1st January 2022
As at 31 December 2022|**2022**
**£'000s**
**Computer**
**Equipment**
26
15
(5)| ||36| ||20
6
(8)| ||18| ||6| ||18| Company number 00515174 - 26 - ## **The Royal Surgical Aid Society Notes to the Financial Statements for the year ended 31 December 2022** ## **12 Investments** |||| |---|---|---| |**Investments**
**Total Investments**
Market value at 1 January 2022
Acquisitions at cost
Disposals
Revaluations
**Market value at 31 December 2022 / 31 December 2021**
Historical cost of investments at 31 December 2022 / 31 December 2021
Investments representing more than 5% of holding are as follows :
Sarasin Income and Reserves Fund Class A Inc
Sarasin Endowments Fund Class A Inc|**2022**
**£'000s**
9,507
1,442
(3,461)
(1,144)
**6,344**
**2022**
**£'000s**
5,909
**Units**
176,360
5,518,540|**2021**
**£'000s**
9,430
227
(602)
452| |||**9,507**| |||**2021**
**£'000s**
8,100
**Units**
1,916,006
5,395,744| At 31 December 2022 the charity held 100% of the issued share capital of RSAS Trading Limited, an unquoted investment, the cost of which is £1. The company was dormant in 2022 and 2021. It is incorporated in England and Wales. At 31 December 2022, the aggregate capital and reserves of RSAS Trading Limited were £1 (2021: £1) |**13**
**Debtors**
Other debtors
Prepayments and accrued income
**14**
**Creditors: Amounts falling due within one year**
Trade creditors
Pension contributions unpaid
Social security and other taxes
Accruals and other creditors|**2022**
**£'000s**
4
22
26
**2,022**
**£'000s**
48
6
24
48
126|**2021**
**£'000s**
4
27| |---|---|---| |||31| |||**2021**
**£'000s**
34
3
16
36| |||89| Deferred income of £1,343 (2021: £nil) is included in accruals which relates to income from charitable activities attributable to 2023. ## **15 Taxation** The Royal Surgical Aid Society is exempt from tax on income and gains falling within Chapter 3, Part 11 of the Corporation Tax Act 2010 or section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. Company number 00515174 - 27 - ## **The Royal Surgical Aid Society Notes to the Financial Statements for the year ended 31 December 2022** ## **16 Reconciliation of Movement in Funds** |**Restricted Funds**
Carer Coaching
Birmingham carer training
SMS helpline
South East carer support
Hampshire carer Support
Digital and online work
North West carer support
**Total Restricted funds**
**Unrestricted Funds**
Service delivery
Service development
Income generation
Property fund
Pilot programme fund
Research fund
Funds generation fund
Bursary fund
**Designated Funds**
**General Fund**
**Total Unrestricted funds**
**Total funds**
Assistive technology fund
Supplementary support fund
Business development fund
Business implementation
fund
Professor of family care in
dementia|**As at 31**
**December**
**2021**
**£'000s**
-
-
-
-
-
-
-
**-**
-
-
-
4,000
1,361
86
165
46
500
440
1,000
1,000
500
9,098
684
**9,782**
**9,782**|**Income**
**£'000s**
9
25
8
2
6
4
3
**57**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
289
**289**
**346**|**Expenditure**
**£'000s**
(8)
(12)
(3)
-
-
(4)
(3)
**(30)**
-
-
-
-
-
-
-
-
-
(146)
-
-
-
(146)
(1,503)
**(1,649)**
**(1,679)**|**Transfers**
**£'000s**
-
-
-
-
-
-
-
**-**
2,792
1,197
396
(4,000)
(1,361)
(86)
(165)
(46)
(500)
(294)
(1,000)
(1,000)
(500)
(4,567)
4,567
**-**
**-**|**Investment**
**Gains**
**£'000s**
-
-
-
-
-
-
-
**-**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(1,144)
**(1,144)**
**(1,144)**|**As at 31**
**December**
**2022**
**£'000s**
1
13
5
2
6
-
-| |---|---|---|---|---|---|---| |||||||**27**| |||||||2,792
1,197
396
-
-
-
-
-
-
-
-
-
-| |||||||4,385
2,893| |||||||**7,278**| |||||||| |||||||**7,305**| Company number 00515174 - 28 - ## **The Royal Surgical Aid Society Notes to the Financial Statements for the year ended 31 December 2022** ## **16 Reconciliation of Movement in Funds (continued)** |**Restricted Funds**
Digital Infrastructure fund
**Total Restricted funds**
**Unrestricted Funds**
Dementia carers centre:
Property fund
Pilot programme fund
Research fund
Funds generation fund
Bursary fund
**Designated Funds**
**General Fund**
**Total Unrestricted funds**
**Total funds**
Professor of family care in
dementia
IT resource development
fund
Assistive technology fund
Supplementary support fund
Business development fund
Business implementation
fund|**As at 31**
**December**
**2020**
**£'000s**
-
**-**
4,000
1,361
86
165
46
-
500
440
1,000
1,000
500
**9,098**
**887**
**9,985**
**9,985**|**Income**
**£'000s**
50
**50**
-
-
-
-
-
-
-
-
-
-
-
**-**
**568**
**568**
**618**|**Expenditure**
**£'000s**
(50)
**(50)**
-
-
-
-
-
-
-
-
-
-
-
**-**
**(1,222)**
**(1,222)**
**(1,272)**|**Transfers**
**£'000s**
-
**-**
-
-
-
-
-
-
-
-
-
-
-
**-**
**-**
**-**
**-**|**Investment**
**Gains**
**£'000s**
-
**-**
-
-
-
-
-
-
-
-
-
-
-
**-**
**452**
**452**
**452**|**December**
**2021**
**£'000s**
-| |---|---|---|---|---|---|---| |||||||**-**| |||||||4,000
1,361
86
165
46
-
500
440
1,000
1,000
500| |||||||**9,098**
**684**| |||||||**9,782**| |||||||| |||||||**9,782**| Company number 00515174 - 29 - **The Royal Surgical Aid Society Notes to the Financial Statements for the year ended 31 December 2022** ## **16 Reconciliation of Movement in Funds (continued)** ## **Restricted funds** ## **Digital Infrastructure fund** Represents money received from Linbury Trust, to fund the development of DCC's digital infrastructure, including the online "Virtual Carers Centre" ## **Carer Coaching** Represents money recevied from the Dementia Services Development Trust to coach carers and support them in their employment prospects, recognising skills learnt in the carer role ## **Birmingham carer training** Represents funds received from Forward Carers to deliver dementia focused training for carers from the Birmingham Area ## **SMS helpline** Represents funds received from Ernest Hecht Charitable Foundation, towards the provision of an sms crisis-helpline for dementia-carers ## **South East carer support** Represents funds received from the Chapman Charitable trust towards providing face to face support to dementia carers in the south east ## **Hampshire carer Support** Represents funds received from the Morrison's foundation towards providing face to support to dementia-carers in Hampshire ## **Digital and online work** Represents funds received from Lennox Hannay Charitable Trust, and the Gisela Graham Foundation to support dementia carers with online and digital delivery ## **North West carer support** Represents funds received from the UKH Foundation towards providing face to face support to dementia carers in the north west ## **Designated funds** New funds, created during the year to be applied in future years : ## **Service delivery** To support the ongoing consistent delivery of DCC's services until the organisation becomes financially self sustaining ## **Service development** To pay for investment in services and organisational infrastructure that will improve DCC's reach and impact ## **Income generation** To allow an initial investment into income generation activities until such time as those activities cover their costs Old funds, which are closed as at December 2022 : ## **Dementia Carers Centre Fund** The Dementia Carers Centre (DCC) will provide direct services to carers of people with dementia. This strategic development will be a building based service. The Dementia Carers Centre Fund facilitates the implementation of this initiative within the following categories: ## **DCC Property Fund** The DCC Property Fund represents the expected net cost of the purchase and refurbishment of the premises and land to house the DCC and its operations. ## **DCC Business Implementation Fund** The DCC Business Implementation Fund represents the forecast net DCC Centre deficit for the first five years, allowing development of a sustainable business model. ## **DCC Pilot Programme Fund** The DCC Pilot Programme Fund represents the delivery of a programme of pilot services over the coming year to assess and refine the range of services that will be provided through the DCC. ## **Research Fund** The Research Fund represents the 3 year funding commitment to research the experiences, needs and outcomes for dementia carers to enable the charity to constantly improve its services. Company number 00515174 - 30 - **The Royal Surgical Aid Society Notes to the Financial Statements for the year ended 31 December 2022** ## **16 Reconiliation of Movement in Funds (continued)** ## **Professor of Family Care in Dementia Fund** The Professor of Family Care in Dementia Fund represents the 3 year funding towards the salary costs of a jointly funded post with the Association of Dementia Studies, University of Worcester. ## **IT Resource Development Fund** The IT Resource Development Fund enables funding for the implementation of a platform to provide online resources to dementia carers. This is expected to be developed over the next 12 to 18 months. ## **Assistive Technology Fund** The Assistive Technology Fund provides resource to enable the development of a showcasing facility for assistive technology for dementia carers. In line with the DCC Property, this is planned to be operational within the next 12 to 24 months. ## **Funds Generation Fund** The Funds Generation Fund provides resource to build income channels for fundraising over the next two years. ## **Supplementary Support Fund** The Supplementary Support Fund provides financial resources over a five year period enabling respite breaks for dementia carers. ## **Bursary Fund** The Bursary Fund exists to provide financial resources towards the cost of travel, accommodation and fees for dementia carers attending courses provided by DCC. ## **Business Development Fund** The Business Development Fund will allow investment over the next five years for the development of new product and services to both further the activities of the Charity as well as to provide income generation for future funding. ## **Unrestricted funds** The General unrestricted fund represents funds which are expendable at the discretion of the Trustees in the furtherance of the objects of the charity. Such funds may be held in order to finance both working capital and capital investment. ## **Transfers in year** During 2022, the trustees reviewed the purposes for which funds are held and created new designated funds to better reflect the needs of the charity and its updated strategy. Transfers are made to close down the old designated funds and to designate appropriate amounts in the newly created designated funds. There were no transfers in 2021 ## **17 Allocation of Net Assets between Funds** |**Year to 31 December 2022**
**General Fund**
**Designated Funds**
**Restricted Funds**
**Year to 31 December 2021**
**General Fund**
**Designated Funds**
**Restricted Funds**|**Fixed**
**Assets**
**£'000s**
-
18
-
**18**
**Fixed**
**Assets**
**£'000s**
8
-
-
**8**|**Investments**
**£'000s**
2,893
3,451
-
**6,344**
**Investments**
**£'000s**
410
9,097
-
**9,507**|**Current**
**Assets**
**£'000s**
-
1,042
27
**1,069**
**Current**
**Assets**
**£'000s**
355
1
-
**356**|**Current**
**Liabilities**
**£'000s**
-
(126)
-
**(126)**
**Current**
**Liabilities**
**£'000s**
(89)
-
-
**(89)**|**2022**
**Total**
**£'000s**
**2,893**
**4,385**
**27**| |---|---|---|---|---|---| ||||||**7,305**| ||||||**2021**
**Total**
**£'000s**
**684**
**9,098**
**-**| ||||||**9,782**| Company number 00515174 - 31 - ## **The Royal Surgical Aid Society Notes to the Financial Statements for the year ended 31 December 2022** ## **18 Leasing Commitments** At 31 December 2021, the Charity had the following future minimum lease payments under non-cancellable operating leases: |Leases expiring:
Less than one year|**2022**
**£'000s**
4|**2021**
**£'000s**
4| |---|---|---| ## **19 Liability of the Members** The charity is incorporated as a company limited by guarantee having no share capital and, in accordance with the Memorandum of Association, every member is liable to contribute the sum of 25p in the event of the Society being wound up. The society provides and pays for professional liability insurance. ## **20 Related Party Transactions** There were no related party transactions in 2022 or 2021 ## **21 Reconciliation of net income/(expenditure) to net cash flow from operating activities** |**Adjustments for:**
Depreciation charges
Amortisation charges
Investment income
Net (gains) / losses on investments
(Increase) / Decrease in debtors
Increase / (Decrease) in creditors
**Net cash (used in) / provided by operating activities**
**Net income/(expenditure) for the reporting period (as**
**per the statement of financial activities)**|**2022**
**£**
(2,477)
6
2
(235)
1,144
4
35
**(1,521)**|**2021**
**£**
(203)
5
23
(243)
(452)
(8)
14| |---|---|---| |||**(864)**| Company number 00515174 - 32 - ## **The Royal Surgical Aid Society Notes to the Financial Statements** ## **for the year ended 31 December 2022** ## **22 Statement of financial activities for the year to December 2021** |**Statement of financial activities for the year to December 2021**||| |---|---|---| |**Unrestricted**
**Funds**
**£'000s**
**Income and Endowments:**
Donations and legacies
325
Income from Charitable Activities
-
Investment income
243
**Total Income**
**568**
**Expenditure:**
Raising Funds
21
**Charitable activites**
Service Development and delivery
1,201
**Total Expenditure**
**1,222**
**Net gains on investments**
**452**
**Net Expenditure**
**(203)**
Gross transfers between funds
-
**Net movement in funds**
**(203)**
Total funds brought forward
9,985
**Total funds carried forward**
**9,782**|**Restricted**
**Funds**
**£'000s**
50
-
-
**50**
-
50
**50**
**-**
**-**
-
**-**
-
**-**|**Total**
**£'000s**
375
-
243| |||**618**| |||21
1,251| |||**1,272**| |||**452**
**(203)**
-| |||**(203)**| |||9,985| |||**9,782**| Company number 00515174 - 33 -