Dementia (Nl) Company Limited by Guarantee statement of Financial Activities (including income and expenditur8 account) Year ended 31 March 2023 2023 Restricted funds Total funds Total funds 2022 Unrestricted funds Income and endowment8 Donations and legacies Investment income 406,992 121.789 528,781 472,739 200 Total Incom• 406,992 121,789 528,781 472,939 Expendlture Expenditure on raislng funds.. Costs of raislng donations and legacies Expenditure on ch8rltable activities Total expondlture 63,723 261,314 222 191,118 191,340 63.945 452,432 40.374 347,274 387,648 325,037 516,377 Net Income and net movement In funds 81,955 (69,551) 12,404 85,291 Reconclllation of funds Total fund8 brought forward Total funds Garriod forward 363,013 444,968 127,293 490,306 405,015 57,742 502,710 490.306 The statement of financial activities Includes all galns and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pag88 21 to 32 fomi part of these financial Statements. 18
Dementia (Nl) Company Limited by Guarantee Statement of Financial Position 31 March 2023 2023 2022 Nots Fixad assets Tangible fixed assets 13 22,221 27,184 Current assets Debtors Cash at bank and in hand 14 24,546 472,220 496,766 17,025 463,224 480,249 Creditors: amounts falllng duo wlthln one yoar Net curr•nt assets 16 16,277 17,127 480,489 463.122 Total assets l•ss current Ilabllltle8 502,710 502,710 490,306 Net assets 490,306 Funds of the charity Restricted funds Unrestricted funds 57,742 444,968 127,293 363,013 Total charity funds 17 502,710 490,306 These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. These financial statements were approved by the board of trustees and authorised for issue on 4 October 2023, and are signed on behalf of the board by.. Ms A Faulkner Trustee Ms L Baker Trustee The notes on pages 21 to 32 form part of th88e flnancial statements. 19
Dementia (Nl) Company Limlted by Guarantee Statement of Cash Flows Year ended 31 March 2023 2023 2022 Note Cash flows from operating actlvltles Net income 12,404 85,291 Adjustments for." Depreciation of tangible fixed assets Other interest receivable and similar income 7,463 4,131 (200) Changes in.. Trade and other debtors Trade and other creditors (7,521) 20.001 (2,232) 106,991 Cash generated from operations 12,350 Interest recelved 200 Net cash from operatlng activities 12,350 107,191 Cash flows from Invostlng activitle3 Purchase of tangible assets Net cash used in investing activities (2,500> (2,500) (23,460) (23,460) Net increase in cash and cash equlvalents Cash and cash equlvalants at beglnnlng of year Cash and cash equivalents at end of year 9,850 461,511 471,361 83,731 377,780 461,511 15 The notes on pages 21 to 32 form part of these flnancial statements. 20-
Dementia (Nl) Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2023 General Information The charity is a public benefit entity and a private company limited by guarantee, registered in Northern Ireland 2nd a registered charity in Northern Ireland. The address of the registered office is NICVA Building, 61 Duncairn Gardens, Belfast. BT15 2GB. Statemènt of compliance These financial statements have been prepared in compliance with FRS 102, The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, 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 (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006. Accounting pollclas Bas13 of preparatlon The financial statements have been prepared on the historical cost basis, as modrfied by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern There are no material uncertainties about the charity's ability to continue. Judgements and key 8ource8 of •stlmation UnrtaintY The preparatlon of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements ar8 continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstsnces. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on Ihelr expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-dasses: restricted income funds or endowment funds. 21
Dementia (Nl) Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2023 Accounting policios (contlnued) Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charity,. it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: income from donations or grants is recognised when there Is evidence of entitlement to the gift, recelpt is probable and Its amount can be measured reliably. legacy income is recognised when receipt is probable and entltlement is establlshed. income from donated goods is measured at the fair value of the goods unless this is impractlcal to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when reiVed if the value can be reliably measured. No amounts are included for the contributlon of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent. In which case It may be regarded as restricted. Rosource8 expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates.. expenditure on ralsing funds Includes the costs of all fundraising activities. events, non- charitable trading activities, and the sale of donated goods. expenditure on charitable activltles Includes all costs Incurred by a charty in undertaklng activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the govemance of the charlty apportioned to charitable activities. otherexpendlture includès all expenditure that is neither related to ralsing fundsfor the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. Tangible assets Tangible assets are initially recorded at cost. and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. All fixed assets are initially recorded at cost. 22
Dementia (Nl) Company Limited by Guarantee Notes to the Financial Statements (contlnuod) Year ended 31 March 2023 Accounting policies {contlnu•d) Depraciatlon Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value. over the useful economic life of that asset as follows- Office Equipment 20°/o Straight line Impairment of flxed asse18 A review for indicators of impairment Is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for posslble reversal at each reporting date. For the purposes of impairment testing, when It Is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inllows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combinatlon is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. Financial instruments A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are Initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is cognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other conslderation expecled to be paid or received and not discounted. Debt Instruments are subsequently measured at amortised cost. Deflned contributlon plans Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises. 23
Dementia (Nl) Company Limited by Guarantee Notes to the Flnancial Statements (contlnuod) Year ended 31 March 2023 Limited by guarantee The company is limited by guarantee. the members being required to pay not more than £1 in the event of a winding up. Donations and legacle8 Unrestricted Funds Restricted Total Funds Funds 2023 Donatlons Donations In Memory Donations Gift aid 179.243 192.966 13,213 179,243 192,966 13,213 Legacle8 Legacies Glfts Gifts 2,500 2.500 Grants UK Deep Innovations The National Lottery Community Fund Dementia Short breaks Mental Health Fund LFT Charitable Trust 116,789 116,789 19,070 19,070 5,000 5,000 528,781 406.992 121,789 Unrestricted Funds Restricted Total Funds Funds 2022 Donations Donations In Memory Donations Gift aid 135.811 131.415 4,512 135,811 131,415 4,512 Legacies Legacies 19,709 19,709 Gffts Grants UK Deep Innovations The National Lottery Community Fund Dementia Short breaks Mental Health Fund LFT Charitable Trust 584 115,264 115,264 15.674 49.770 15,674 49,770 307,705 165,034 472.739 24
Dementia (Nl) Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2023 Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Bank interest receivable 200 200 Costs of raising donatlons and legacle8 Unrestrlcted Funds Restricted Totsl Funds Funds 2023 Fundraising 63,723 222 63,945 Unrestricted Funds Restricted Total Funds Funds 2022 Fundraising 40,374 40,374 Expendlturo on charltable act5vltles by fund typ6 Unrestricted Funds Restricted Total Funds Funds 2023 Charitable Activities Support costs 253.474 7.840 191,118 444,592 7,840 261,314 191,118 452,432 Unrestricted Funds Restricted Totsl Funds Funds 2022 Charitable Activities Support costs 230.233 8.252 108,789 339,022 8,252 238,485 108,789 347,274 Net Income Net income is stated after ChargIn(crediting). 2023 2022 Depreciation of tangible fixed assets Fees payable for the audit of the financial statements 7,463 3,000 4.131 25
Dementia (Nl) Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 March 2023 10. Independant examlnation fees 2023 2022 Fees payable to the independent examiner for: Independent examination of the financial statements 2,400 11. Staff costs The total staff costs and employee benefits for the reportlng period are analysed as follows: 2023 2022 Wages and salaries Social security costs Employer contributions to pension plans Other employee benefits 297.499 21,299 19,416 1,619 214.472 14,781 8,627 629 339,833 238,509 Redundancy Payment8 Total payments made during the year in relation to redundancy pay were £Nil (2022: £6,792). The accounting policy is to recognise termination payment liability on communication of intention to pay and when quantifiable. Such payments are accounted for as staff costs. The average head count of employees during the year was 12 (2022.. 8). The average number of full-time equivalent employees during the ye8r is analysed as follows. 2023 2022 No. Number of staff - Operatlonal 12 No employee received employee benefits of more than £60,000 during the year {2022: Nil). Key Management Personnel Key management personnel Include all persons as part of the senior management team and have responsibility for plannlng, directing and controlling the actlvlties of the charity. The total compensation paid to key management personnel for services provided to the charity was £120,926 {2022', £80,092). 12. Trustee rgmun•ratlon and expgnses No members of the Board of Trustee recerved any remuneration during the year. No trustee or other person related to the Charity has any personal interest in any contract or transaction entered into by the Charity during the year (2022 - Nil) During the year reimbursements for expenses totalling £806 (2022 - £Nil) was made to 2 (2022 - O) Trustees. 26-
Dementia (Nl) Company Limited by Guarantee Notes to the Financlal Statements (Gontinued) Year 8nded 31 March 2023 13. Tangible fixed assets Equipment Total Cost At 1 April 2022 Additions 40,285 2,500 40.285 2,500 42,785 At 31 March 2023 42,785 Deprèclatlon At 1 April 2022 Charge for the year At 31 March 2023 13,101 7,463 13,101 7,463 20,564 20.564 Carrylng amount At 31 March 2023 22,221 22.221 At 31 March 2022 27,184 27,184 14. Debtors 2023 2022 Prepayments and accrued income Other debtors 7,712 16,834 24,546 2,348 14,677 17,025 15. Cash and cash equivalents Cash and cash equivalents comprlse the following.. 2023 2022 Cash at bank and In hand Bank overdrafts 472,220 (859> 471,361 463,224 (1,713) 461,511 16. Creditors: amounts falllng due withln one year 2023 2022 Bank loan5 and overdrafts Trade creditors Accruals and deferred income Social security and other taxes 859 12,386 3,032 1,713 10,024 4,628 762 16,277 17,127 27
Dementia (Nl) Company Llmited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2023 17. Analysis of charitable funds Unrèstrlcted funds At 31 March 2023 At 1 April 2022 Income Expenditure General funds People & Communities Programme 315,262 47,751 406,992 (325,037) 397.217 47,751 363,013 406,992 (325,037) 444.968 At 31 March 2022 At 1 April 2021 Income Expendlture General funds People & Communltles Programme 286,396 47,571 307,905 {278.859) 315,442 47,571 333,967 307,905 (278,859) 363,013 People and Cornmunltl•s Programme As part of the Dementia Empower & Support Project created to engage with people living with dementia. early stage post-diagnosis. Unrestricted funds have been designated in delivery of our People and Communities Programme. 28
Dementia (Nl) Company Limited by Guarantee Notes to th8 Financial Statements (continued) Year ended 31 March 2023 17. Analysls of charitabla funds (coneinu•d) Restricted funds At 31 March 2023 At 1 April 2022 Income Expenditure UK DEEP Innovations in Dementia Arts Council of Northern Ireland - Lottery funding John Moore's Foundation The National Lottery Community Fund Mental Health Fund LFT Charitable Trust 770 770 1,992 4.023 72.718 47,790 (1,521) (3.315) (157.940) (28,564) 471 708 31.567 19,226 5,000 57,742 116.789 5.000 127,293 121,789 {191,340) At 31 March 2022 At 1 April 2021 Income Expenditure UK DEEP Innovations in Dementia Arts Council of Northern Ireland - Lottery funding John Moore's Foundatlon The National Lottery Communty Fund Mental Health Fund LFT Charitab18 Trust 770 770 1.992 4,023 64.263 1,992 4,023 72,718 47.790 115,264 49.770 (106,809) {1,980) 71,048 165,034 (108,789) 127,293 29-
Dementia (Nl) Company Limited by Guarantee Notes to the Financial Statements (contlnuedj Year ended 31 March 2023 17. Analysis of charltable funds (continued) UK DEEP Innovations in Dementia DEEP (Dementia Engagement and Empowerment Project) is working to create a UK wide network of users involvement groups of people with dementia. This fund is to be used in the enhancement of influencing Activities. Arts Council of Northern Ireland - Lottery funding Public funding to tackle loneliness in people with dementia In Northern Ireland. This pioneering initiative aims to promote positive mental health and wellbeing among elderly people. Hallfax Foundation Trust The grant received is to support the creation of an online presence for Dementia (Nl). Tho National Lottery Communlty Fund The 4 year project will engage with 180-200 people living with dementia, early state post-diagnosls. Participants will benefit from Ihe mutual support of others living with dementia to help come to terms with the diagnose, manage the challenges they face, reconnect with their communities, use and build on their own strengths. rebuild confidence, engage in proactive , meaning empowerment activities, and avail of leadership opportunities. John Moores Foundatlon The grant has been received to support volunteer training, expenses and celebration, IT, Outreach sessions. Mental Health Fund Project Dementia Diagnosis - a tailored approach to promoting positive mental health and living well with dementia. Provide tailor8d support for people dealing with the mental health impact of a dementia diagnosis Develop our In the Same Boat servlce to create a pathway for peer support for people livlng with a dementia diagnosis Build mental health resilience in more individuals followlng a dementia diagnosis LFT Charltable Trust Dementia should not stop a conversation. it should start one. Grant to fund development of video and photography content and resources for Dementia Nl, aimed at both people living wlth dementia and the general public throughout Northern Ireland. 30-
Dementia (Nl) Company Llmitsd by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2023 18. Analy818 of net assets between funds Unrestricted Funds Restricted Total Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year Net a88•t8 22,221 436,816 (14.069) 444,968 22,221 496,766 (16,277) 502.710 59,950 (2,208) 57,742 Unrestricted Funds Restricted Total Funds Funds 2022 Tangible fixed assets Current assets Creditors less than 1 year Not assets 27.184 351,311 (15,482) 363,013 27,184 480.249 (17.127) 490.306 128,938 (1 ,645) 127,293 19. Financlal instruments The carrying amount for each category of financial instrument is as follows: 2023 2022 Flnancial assets mea8ur•d at falr value through Income and expendlturo Financial assets measured at fair value through income and expenditure 16,834 14,677 Flnanclal Ilabllltles measured at falr value through Income and axpendlture Financial liabilities measured at fair value through income and expenditure 16,277 16.365 20. Analysls of changes in net debt At At 1 Apr 2022 Cash flows 31 Mar 2023 Cash at bank and in hand Bank overdrafts 463,224 (1,713) 461,511 8,996 854 472.220 {859) 471,361 9,850 21. P•nslon commitments Defined contrlbutlon plans The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £19,416 (2022 £8,627). At the year end an amount of £Nil (2022- £1.928) was outstanding. 31
Dementia (Nl) Company Limited by Guarantee Notes to the Financlal Statements (contlnued) Year ended 31 March 2023 22. Ethical Standards In common with many other businesses of our size and nature, we use our auditors to assist with the preparation of the financial statements. 32