The Memory Box Network Ltd

Transcription

1 SC Trustees' Report and Accounts for the period 1 August 2015 to 31 July 2016 Sheet 1 of 11

2 CONTENTS Page Legal and administrative information 3 Trustees' Report 4 Independent Examiner's Report 6 Statement of Financial Activities 7 Balance Sheet 8 Notes to the Financial Statements 9 Trustees' Statement 11 Page 2 of 11

3 COMPANY INFORMATION Charity Number SC Company Registration Number SC Business Address Unit 5 Vision Building 20 Greenmarket Dundee DD1 4QB Registered Office East Churchlands Wallace Street Ardler Blairgowrie PH12 8SS Trustees Independent Examiner Ibis Management Services 24 Harviestoun Road Dollar FK14 7HG Bankers Bank of Scotland 3/5 Luna Place Dundee DD2 1TP Solicitors Ian Smith Solicitors 18 Queens Road Aberdeen AB15 4ZT Page 3 of 11

4 TRUSTEES' REPORT (incorporating the Directors' Report) The Trustees (who are also the directors of the company for the purposes of the Companies Act 2006) present their report with the accounts of the charity for the year ending 31 July The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued in March Trustees The Trustees who served during the period and the limits of their guarantees are as follows:- 31 Jul Jul The Trustees are appointed on the basis of their specific skills and are aware of their responsibilities in respect of the governanace of the company. Principal Activities The company, which is a registered charity, was incorporated on 28th July 2011 as a company limited by guarantee and the principal activity of the company during the period was working towards the provision of an online reminiscence therapy tool for sufferers of dementia and allied conditions. Objectives for the year 1. The Memory Box Network intends to carry on facilitating online reminiscence through its online platform ourbigbox.com. further development work is required to keep the system appropriate and fresh for the users, further funding is being sought to do this. 2. To be running more on the ground projects including Bygone Gardens and Remembering Exercise to help communities within Tayside and Angus engage with and provide better support structures for people affected by dementia. 3. To further enhance knowledge of how individuals who have a person with the condition in their friends and family network can bring innovation and new applications in to their care patterns. The charity is developing a system pathway that can be adapted like a care pathway with a visual guide on how to create ideas, test them and then roll out any outcomes that can help ordinary people improve the lives of their loved ones. Activities, Achievements and Performance The charity gained funding for on the ground projects including the Bygone Gardens Project and Remembering Exercise. Both of these projects involved volunteers and participants who were the family of people who had dementia. Bygone Gardens was a project ran across Angus with the support of various partners including Angus Council, Dobbies Garden Centres and a local landscape Gardner Steve Forrett. The project started off with a good level of interaction and 3 families and 2 care homes within Angus were recruited to work with the charity. The recruitment process was slow and eventually ran in to problems as the people involved within the partnerships moved on several times which put a huge demand on consistently chasing and briefing partners. The funding for the project eventually ran out without completing the project objectives although various activities took place including gardening, reminiscence sessions, awareness raising, educational interaction with schools and youth groups. Remembering Exercise was a project involving a small number of participants within care homes in Dundee set to try to help facilitate movement and exercise for people with dementia. The premise of the project is to take the person with dementia, either in a group or as an individual, through a story that they will be able to identify with like going to school or a popular activity from their earlier years such as a football match or going shopping. The charity worked with an experienced exercise trainer, Susie Black, and developed an initial programme of activity centred around a schools day of yesteryear. The project was received extremely well and over a 12 weeks period improvements in movement and happiness were seen across the test subjects. Financial Review Page 4 of 11

5 The charity had been working closely with the Big Lottery on a substantial application that would have allowed 3 years of growth and development for the services but the application was turned down at the last moment resulting in substantial change to the staffing of the charity. The deficit in the finances through the year is due to the main funded development of Ourbiogbox.com coming to an end with an amount being carried over from the previous year. The amount raised in funding and the amount spent through the charitable activities balances out at the point once all the remaining development was completed and paid for. Future Development Plans The charity will continue to provide online services and look for further development funding as well as establish its on the ground projects. It will also continue to utilise volunteers as much as possible to provide awareness and services for people affected by dementia. Approval This report was approved by the Trustees at a meeting at the business address 25 April 2017 and signed on their behalf by: Director Page 5 of 11

6 INDEPENDENT EXAMINER'S REPORT to the Trustees for the year to 31 July 2016 on the unaudited financial statements of The Memory Box Network Ltd I report on the accounts for the year ended 31 July 2016 set out on pages 7 to 11. This report is made to the charity's board of trustees, as a body, in accordance with the terms of engagement. My work has been undertaken to enable me to undertake an independent examination of the charity's accounts on behalf of the charity's board of trustees and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's board of trustees as a body, for my work or for this report. Respective responsibilities of Trustees and Independent Examiner The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations (as amended) does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention. Basis of Independent Examiner's Report My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006 (as amended). An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. Independent Examiner's Statement In connection with my examination, no matter has come to my attention: 1. which gives me reasonable cause to believe that, in any material respect, the requirements: (a) to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations (as amended); and (b) to prepare accounts which accord with the accounting records and to comply with Regulation 8 of the 2006 Accounts Regulations (as amended); have note been met; or 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Ibis Management Services 24 Harviestoun Road, Dollar, FK14 7HG 25 April 2017 Page 6 of 11

7 STATEMENT of FINANCIAL ACTIVITIES for the period ended 31 July 2016 Notes Unrestricted Restricted Notes Funds Funds Total Total Incoming Resources Charitable Trusts (unrestricted) 15,000-15,000 15,000 Donations 17,283 19,999 37,282 25,337 Other Income ,298 19,999 52,297 40,337 Resources Expended Product Development Costs Systems Development 1,000-1,000 3,523 The Workshop Business Development Marketing & Advertising 5,018-5,018 3,359 Volunteers Travel & Accommodation 2,765-2,765 4,208 Stationery & Printing General overheads Salaries 38,404-38,404 44,393 Postage & Telephone Communications ,002 Repairs Utilities Secretarial Costs Office costs Fixed Costs Insurance Rent ,430 Financial & professional costs Bank charges Governance costs Depreciation ,081 49, ,850 63,969 Net Incoming/(Outgoing) Resources (17,580) 19,027 1,447 (23,632) Page 7 of 11

8 BALANCE SHEET at 31 July 2016 Notes Fixed Assets Tangible Assets 6 5,508 6,124 Current Assets Debtors - VAT Cash in Hand - - Cash at Bank 4,745 2,616 4,902 2,839 Creditors: Amounts falling due within 1 year 1,069 1,069 Accrued Expenses - - 1,069 1,069 Net Current Assets 3,833 1,770 Total Assets less Current Liabilities 9,341 7,894 9,341 7,894 Funds Restricted Income Funds 29,689 9,690 less Depreciation Reserve (5,098) (4,126) 24,591 5,564 Unrestricted Income Funds (15,250) 2,330 Total Funds 9,341 7,894 Audit Exemptions For the financial year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts. These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008). Approved by the Board on 25 April 2017 Director Page 8 of 11

9 NOTES to the ACCOUNTS for the period ending on 31 July Accounting Policies 1.1 Basis of preparing the accounts The accounts have been prepared on the going concern basis, even though post year end the level of charity funding has substantially reduced. This funding reduction has meant that all contracts of employment were ceased whilst alternative business premises were sought. The trustees will continue to seek appropriate sources of funding to continue where possible the delivery of the charity's objectives. On this basis, the trustees consider it appropriate for the charity's accounts to be prepared on the going concern basis. Inherently there can be no certainty in these matters and the accounts do not include the adjustments that would result if the charity was unable to continue as a going concern. 1.2 Accounting Convention These accounts have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), the Companies Act 2006, the Statement of Recommended Practice, Accounting and Reporting by Charities issued in March 2005, the Charities and Trustee Investment (Scotland) Act 2005 and Regulation 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended). 1.3 Fund Accounting Unrestricted funds are expendable at the discretion of the trustees in furtherance of the objects of the charity. Restricted funds are subject to specific restrictions, which might be declared by the donor or with their authority. Transfers are made between funds to release capital grants and also to clear any funds in deficit. 1.4 Incoming Resources All incoming resources are included in the Statement of Financial Activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: Voluntary, received by way of grants, donations and gifts, is included in full when receivable. Grants where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant. Grants, including grants for the purchase of fixed assets, are recognised in full in the year in which they are receivable. Donated services and facilities are included at the value to the charity when this can be quantified. value of services provided by volunteers is not included. The Gifts donated for resale will be included as incoming resources within activities for generating funds when they are sold. 1.5 Resources Expended Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes. Charitable expenditure comprises those costs incurred in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Support costs are incurred directly in support of expenditure on the objects of the charity and include project management. Sheet 9 of 11

10 1.6 Depreciation Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. Plant and Machinery 15% reducing balance 2 Taxation The charity is exempt from corporation tax on its charitable activities. 3 Profit is calculated after charging: Depreciation of owned fixed assets Trustees The trustee, was employed by the charity and was remunerated a total of 6,000 in salary (2014: 36,000) plus 3,000 in professional fees. No other trustees received remuneration or other benefits for the year ended 31 July 2015 nor for the year ended 31 July The above payments are permitted under the charity's Memorandum and Articles of Association. 5 Employees The charity employed 4 (2014: 6) employees during the financial year. 6 Tangible Fixed Assets Plant and Machinery Motor Vehicles Land and Buildings TOTAL Cost at 01 Aug , ,248 Additions Disposals at 31 Jul , ,604 Depreciation at 01 Aug , ,771 Disposals Charge for the year at 31 Jul , ,743 Net Book Value at 01 Aug , ,124 at 31 Jul , ,508 7 Controlling Interest There was no one party who controlled the company during the year. 8 Related party transactions There were no related party transactions during the year. 9 Company limited by guarantee The Memory Box Network is a company limited by guarantee and therefore does not have a share capital. Every member of the company undertakes to contribute such amount as may be required not exceeding 1 to the assets of the charitable company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member. Sheet 10 of 11

11 Registration No: SC TRUSTEES' STATEMENT required by the Companies Act 2006 for the year ending 31 July 2016 In approving these financial statements as Trustees of the company, we hereby confirm that a. For the period covered by these statements the company was entitled to exemption from audit conferred by section 477 of the Companies Act 2006 relating to small companies. b. No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act c. we acknowledge our responsibilities for: i) ensuring that the company keeps accounting records which comply with section 386 and 387of the Companies Act 2006; and ii) preparing accounts which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of section 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company. d) These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008). Approved by the Board on 25 April 2017 Director Page 11 of 11