Charity registration number 1000254
AGE CONCERN - HIGHLANDS
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
AGE CONCERN - HIGHLANDS
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees P Lake (Chairman) A Davies G McFadyen M Jarratt L Edwards M Ricard Charity number 1000254 Independent examiner Anna Chapman FCA Chapman Worth Limited 2 The Old Estate Yard High Street East Hendred Wantage Oxfordshire OX12 8JY
AGE CONCERN - HIGHLANDS
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 3 |
| Independent examiner's report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 15 |
AGE CONCERN - HIGHLANDS
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2023
The trustees present their annual report and financial statements for the year ended 31 March 2023.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's constitution, the Charities Act 2011 and the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005.
Objectives and activities
The objects of the charity as laid down in its constitution are to promote the welfare of elderly people and their carers in Chipping Norton and the surrounding area, to enable individuals to remain in their own homes and to provide support for carers, family and others. This is achieved by running a multi-use Day Centre which provides care, up to four days a week if possible, between 10am and 4pm and can accommodate up to 22 persons at one time. A midday meal is provided together with social activities. The Day Centre is staffed by a salaried manager, with the assistance of support workers, a cook, a minibus driver and volunteers.
The Charity also offers other activities to fulfil their objectives such as, the Monday Club, the Stroke Club, Chatterbox, Bingo, the Book Club, and Chippy Active Trips, CATs. As the Charity is a friend of Age UK, we continue to work with Age UK, Oxfordshire by providing space for Late Spring (their bereavement club). We are also working with Generation Games, a part of Age UK, Oxfordshire in providing Strength and Balance classes in the Town Hall on Monday and Friday mornings.
The charity derives its funding by various fundraising activities, which includes the surplus from the Chippy Active Trips (CATs) club. The interest on our investments is also another means of funding the organisation. Members of the Highlands day Centre pay a fee for each attendance.
Any surplus funds are placed on deposit with the Charities Aid Foundation or in longer term securities, and as mentioned above, provide an income for Age Concern, Chipping Norton.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
The charity's policy is to consult and discuss with employees, through unions, staff councils and at meetings, matters likely to affect employees' interests.
Information of matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the group's performance.
Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the charity continues and that the appropriate training is arranged. It is the policy of the charity that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.
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AGE CONCERN - HIGHLANDS
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
Achievements and performance
It was with deep regret that the Trustees had to decide that they were not able to run the Day Centre with paid staff. The Day Centre had been losing money for the last five years, since we lost the County Council’s funding. We had in our financial planning the ability to pay redundancy to our staff. Past reports by the Trustees have mentioned this.
It would appear that there is not the demand for Day Centre places. Elderly people want to be more active, that is why Age Concern, Chipping Norton are continuing to run their club that goes out every month to places of interest, theatres and special events. This club has a membership of 220. It is run by volunteers and is self financing, with a small profit coming to Age Concern, Chipping Norton.
We are looking to run the Day Centre on a reduced basis and with volunteers , but we have not yet been able to find the volunteers.
The Trustees of Age Concern, Chipping Norton have decided that the building should be called The Highlands Community Centre, in order to get a wider use.
At the Centre we do have Exercise classes, called Fitness 4 Seniors, with a qualified fitness instructor. We also have bereavement club, run by AgeUK, Oxfordshire.
We hope to encourage other groups in the Community to use our freehold building, so that an income for Age Concern, Chipping Norton is continued.
The Trustees have engaged an organiser who will be responsible for taking the bookings etc. They will continue to monitor the position in the coming year.
Financial review
As we go into this current financial year we are finding the same as we found last year that not everyone is returning to the Day Centre and we are only able to open two days per week instead of four. Even before the pandemic this trend of lower numbers was emerging and we are finding it increasingly difficult to keep staff when they see the demand for the Day Centre reducing. This is why the Trustee have had to make the decision as outline above.
We also have seen that the return of organisations wanting to rent rooms at Highlands has vanished Overall, we therefore foresee a very different 2022/23 than we have seen in the past and the Trustees will review the position at the end of this financial year.
Due to us not being able run as a Day Centre we have had to make our staff redundant. Past Trustees reports will show that have always had this in mind and therefore we had the resources to cover this cost. We also have enough liquid reserves to keep the Community Centre open, while we plan for the future. Financially we have been able to keep the Day Centre running for longer than others, where there have been closure of some local Day Centres as long five years ago.
Structure, governance and management
The charity was established by a charitable trust deed in 1992.
The trustees who served during the year and up to the date of signature of the financial statements were: P Lake (Chairman)
A Davies G McFadyen M Jarratt L Edwards M Ricard
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AGE CONCERN - HIGHLANDS
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
A board of trustees, who meet monthly, administer the charity, the members of which are as disclosed on the charity information page. There are sub-committees as applicable. The permanent paid employees manage the day-to-day operations of the charity. The trustees are elected at the annual general meeting and are given a trustees handbook. This outlines their responsibilities, details of the procedures and policies of the charity and information about Age UK.
The trustees' report was approved by the Board of Trustees.
..............................
P Lake (Chairman) Trustee Dated: .........................
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AGE CONCERN - HIGHLANDS
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF AGE CONCERN - HIGHLANDS
I report to the trustees on my examination of the financial statements of Age Concern - Highlands (the charity) for the year ended 31 March 2023.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Anna Chapman FCA Chapman Worth Limited 2 The Old Estate Yard High Street East Hendred Wantage Oxfordshire OX12 8JY
Dated: .........................
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AGE CONCERN - HIGHLANDS
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2023
| Unrestricted Endowment funds funds Notes £ £ Income from: Donations and legacies 3 1,827 - Charitable activities 4 38,843 - Activities for generating funds 5 354 - Investments 6 16,357 - Total income 57,381 - Expenditure on: Raising funds - - Charitable activities 7 55,655 - Governance costs 7,815 - Total resources expended 63,470 - Net losses (gains) on investments 14,189 19,784 Net movement in funds (20,278) (19,784) Fund balances at 1 April 2022 510,444 186,322 Fund balances at 31 March 2023 490,166 166,538 |
Total 2023 £ 1,827 38,843 354 16,357 57,381 - 55,655 7,815 63,470 33,973 (40,062) 696,766 656,704 |
Total 2022 £ 12,303 34,720 164 15,129 62,316 - 98,606 8,339 106,945 (27,798) (16,831) 713,597 696,766 |
|---|---|---|
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AGE CONCERN - HIGHLANDS
BALANCE SHEET
AS AT 31 MARCH 2023
| Notes Fixed assets Tangible assets 11 Investments 12 Current assets Debtors 13 Cash at bank and in hand Creditors: amounts falling due within one year 14 Net current assets Total assets less current liabilities Capital funds Endowment funds Income funds Unrestricted funds |
2023 £ 3,425 20,985 24,410 2,318 |
£ 229,438 405,174 634,612 22,092 656,704 166,538 490,166 656,704 |
2022 £ 2,959 22,267 25,226 1,470 |
£ 233,865 439,145 |
|---|---|---|---|---|
| 673,010 23,756 |
||||
| 696,766 | ||||
| 186,322 510,444 |
||||
| 696,766 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2023.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on ......................... and are signed on its behalf by:
..............................
P Lake (Chairman) Trustee
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AGE CONCERN - HIGHLANDS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
1 Accounting policies
Charity information
Age Concern - Highlands is a registered charity established by a charitable deed in 1992.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011 and “Accounting and Reporting by Charities: 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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are those funds where the income is used to further the charities objectives.
1.3 Incoming resources
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.
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AGE CONCERN - HIGHLANDS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
1 Accounting policies
(Continued)
1.4 Resources expended
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
1.5 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
| Land and buildings | 1% straight line basis |
|---|---|
| Plant and machinery | 15% reducing balance basis |
| Motor vehicles | 25% reducing balance basis |
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.6 Fixed asset investments
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
1.7 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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AGE CONCERN - HIGHLANDS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
1 Accounting policies
(Continued)
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
1.10 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Donations and legacies
| Donations and gifts Grants receivable for core activities |
2023 £ 1,827 - 1,827 |
2022 £ 8,703 3,600 |
|---|---|---|
| 12,303 |
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AGE CONCERN - HIGHLANDS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
4 Charitable activities
| Rental Income Fees received £ £ Services - - Charitable rental income 988 - 988 - |
CATs Highlands in the Community £ £ 37,855 - - - 37,855 - |
Total £ 37,855 988 38,843 |
2022 £ 34,660 60 |
|---|---|---|---|
| 34,720 |
5 Activities for generating funds
| Unrestricted | Total | ||
|---|---|---|---|
| funds | 2022 | ||
| £ | £ | ||
| Shop income | 354 | 164 | |
| 6 | Investments | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Income from listed investments | 7,977 | 7,250 | |
| Interest receivable | 8,380 | 7,879 | |
| 16,357 | 15,129 |
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AGE CONCERN - HIGHLANDS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
7 Charitable activities
| Activities undertaken directly £ Staff costs 5,200 Depreciation and impairment 4,427 Other expenditure 46,028 55,655 55,655 Analysis by fund Unrestricted funds 55,655 55,655 |
Total £ 5,200 4,427 46,028 55,655 55,655 55,655 55,655 |
2022 £ 54,179 4,970 39,457 |
|---|---|---|
| 98,606 | ||
| 98,606 | ||
8 Governance costs
Included within Governance costs are fees of £1,080 (2022- £1,020) for the Independent Examination.
9 Trustees
During the year and comparative year none of the trustees (or any persons connected with them) received any remuneration or reimbursed expenses during the year.
None of the trustees (or any persons connected with them) made any donations to the charity during the year or comparative year.
10 Employees
The average monthly number of employees during the year was:
| 2023 | 2022 | |
|---|---|---|
| Number | Number | |
| 1 | 5 | |
| Employment costs | 2023 | 2022 |
| £ | £ | |
| Wages and salaries | 5,200 | 54,179 |
There were no employees whose annual remuneration was more than £60,000.
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AGE CONCERN - HIGHLANDS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
| 11 Tangible fixed assets Cost At 1 April 2022 At 31 March 2023 Depreciation and impairment At 1 April 2022 Depreciation charged in the year At 31 March 2023 Carrying amount At 31 March 2023 At 31 March 2022 12 Fixed asset investments BMO Global Asset Management Black Rock Charinco Wise Investments CAF Equity Growth Black Rock Charinshare - 13 Debtors Amounts falling due within one year: Prepayments and accrued income 14 Creditors: amounts falling due within one year Other taxation and social security Other creditors Accruals and deferred income |
Land and buildings Plant and machinery Motor vehicles £ £ £ 299,313 38,109 82,331 299,313 38,109 82,331 71,677 34,659 79,552 2,993 517 917 74,670 35,176 80,469 224,643 2,933 1,862 227,636 3,450 2,779 2023 £ 78,186 37,433 166,538 15,950 107,067 405,174 2023 £ 3,425 2023 £ 35 1,203 1,080 2,318 |
Total £ 419,753 |
|---|---|---|
| 419,753 | ||
| 185,888 4,427 |
||
| 190,315 | ||
| 229,438 | ||
| 233,865 | ||
| 2022 £ 85,009 43,703 186,322 15,891 108,220 |
||
| 439,145 | ||
| 2022 £ 2,959 |
||
| 2022 £ 35 415 1,020 |
||
| 1,470 |
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AGE CONCERN - HIGHLANDS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
15 Retirement benefit schemes
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
The was no charge to profit or loss in respect of defined contribution schemes during the year (2022 - £187).
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AGE CONCERN - HIGHLANDS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
16 Endowment funds
Endowment funds represent assets which must be held permanently by the charity. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund.
| Balance at 1 April 2021 r £ 169,335 169,335 |
Movement in funds Incoming esources Resources expended Transfers Revaluations gains and losses Balance at 1 April 2022 r £ £ £ £ £ - - - 16,987 186,322 - - - 16,987 186,322 |
Movement in funds Incoming esources Resources expended Transfers Revaluations gains and losses Balance at 31 March 2023 £ £ £ £ £ - - - (19,784) 166,538 - - - (19,784) 166,538 |
Movement in funds Incoming esources Resources expended Transfers Revaluations gains and losses Balance at 31 March 2023 £ £ £ £ £ - - - (19,784) 166,538 - - - (19,784) 166,538 |
|---|---|---|---|
| 166,538 |
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AGE CONCERN - HIGHLANDS
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
| 17 Analysis of net assets between funds Unrestricted funds Endowment Funds 2023 2023 £ £ Fund balances at 31 March 2023 are represented by: Tangible assets 229,438 - Investments 238,636 166,538 Current assets/(liabilities) 22,092 - 490,166 166,538 |
Total Unrestricted funds Endowment Funds 2023 2022 2022 £ £ £ 229,438 233,865 - 405,174 252,823 186,322 22,092 23,756 - 656,704 510,444 186,322 |
Total 2022 £ 233,865 439,145 23,756 |
|---|---|---|
| 696,766 |
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