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2024-03-31-accounts

Charity registration number 1000254

AGE CONCERN - HIGHLANDS

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

AGE CONCERN - HIGHLANDS

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees P Lake (Chairman) A Davies G McFadyen M Jarratt L Edwards M Ricard Mr A Taylor Charity number 1000254 Independent examiner Anna Chapman FCA Chapman Worth Limited 2 The Old Estate Yard High Street East Hendred Wantage Oxfordshire OX12 8JY

(Appointed 1 April 2024)

AGE CONCERN - HIGHLANDS

CONTENTS

Page
Trustees' report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Notes to the financial statements 6 - 14

AGE CONCERN - HIGHLANDS

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 MARCH 2024

The trustees present their annual report and financial statements for the year ended 31 March 2024.

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.

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

Significant activities and achievements against objectives

Over the last few years, the trustees have been reporting that there is no longer the demand for a Day Centre (see our Trustees reports for 2023 and 2024) and that Day Centres were not the places that elderly people wanted to come to. The Trustees first began discussing this position in 2022. In fact, the Highlands Day Centre was the last to close in our area and in the last few years our loss was about £15,00 per year.

We had to make our staff redundant and close the operation after the Covid pandemic when we only had 15 users. We have kept running our outings club, Chippy Active Trips, which has around 200 members. We also lend out wheelchairs and walkers on a short-term basis. When needed we acted as a sign-posting organisation for any enquiry we received.

The Trustees said that they wanted our freehold building to remain an asset for the Town, so, with this in mind, we looked for a user who would take over the building. The only enterprise to emerge was the Chipping Norton Theatre which wanted extra space to expand the work they did in the town, which would include work with the elderly and with organisations that support the elderly in areas such as nursing at home and bereavement counselling.

Both the Theatre and Age Concern, Chipping Norton have engaged firms of solicitors to ensure the transfer is undertaken correctly and in accordance with charity law

Our other income is from our investments, and CATs.

Financial review

As we go into this current financial year we are still struggling with the trend of lower numbers. We have been able to benefit from rental of the rooms, and income from CATs is continuing.

Investment income continues to form a substantial proportion of the charity's income.

Costs have been carefully managed to minimise the reduction in funds, but 2023/24 is set to be a challenging year, with potential changes to the charity's operation.

Reserves policy

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six months' expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities. This level of reserves has been maintained throughout the year.

Major risks

The trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.

Structure, governance and management

The charity was established by a charitable trust deed in 1992.

AGE CONCERN - HIGHLANDS

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

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 Mr A Taylor (Appointed 1 April 2024)

Recruitment and appointment of trustees

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.

he trustees' report was approved by the Board of Trustees.

P A Lake

.............................. P Lake (Chairman)

Trustee

23 Oct 2024 Date: .............................................

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 Concem - Highlands (the charity) for the year ended 31 March 2024. Responslbllltles and basls 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 respèct of my examination of the charity's financial statements carried out under section 145 of Ihe 2011 Act. In carrying out my examination I hav8 followed all the applicable Directions given by the Charlty Commission under section 145{51{b) of Ihe 2011 Act. Independent examlner's statement I have completed my examination. I confirm that no matters have come to my attention in connection with the 8xaminalion giving me cause to believe that in any material respect.. 8ccounting records were not kept in respect of the charity as required by section 130 of the 2011 Act., or the financial statements do not accord with Ihosè re¢ords'. or the financial stalemonts 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 requiremènt that the accounts give a true and fair view which is not a matter considered as part of an independenl examination. I have no concerns and have come across no oth8r matters In connection with thè èxamlnation to which attention should be drawn in this report in order to enable a proper understanding of the financial statèments to be reached. Anna Chapman FCA Chapman Worth Limited 2 The Old Eslate Yard High Street East Hendred Wantage Oxfordshire OX12 8JY 2qiiol2L)Z{

AGE CONCERN - HIGHLANDS

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted Endowment
funds
funds
Notes
£
£
Income and endowments from:
Donations and legacies
3
20
-
Charitable activities
4
27,476
-
Activities for generating funds
5
-
-
Investments
6
18,231
-
Other income
7
17,854
-
Total income and endowments
63,581
-
Expenditure on:
Raising funds
-
-
Charitable activities
8
42,220
-
Governance costs
8,270
-
Total resources expended
50,490
-
Net losses (gains) on investments
(5,994)
(2,153)
Net incoming/(outgoing) resources before
transfers
19,085
2,153
Gross transfers between funds
(20,000)
20,000
Net movement in funds
(915)
22,153
Fund balances at 1 April 2023
490,166
166,538
Fund balances at 31 March 2024
489,251
188,691
Total
2024
£
20
27,476
-
18,231
17,854
63,581
-
42,220
8,270
50,490
(8,147)
21,238
-
21,238
656,704
677,942
Total
2023
£
1,827
38,843
354
16,357
-
57,381
-
55,655
7,815
63,470
33,973
(40,062)
-
(40,062)
696,766
656,704

AGE CONCERN - HIGHLANDS

BALANCE SHEET

AS AT 31 MARCH 2024

Notes
Fixed assets
Tangible assets
12
Investments
13
Current assets
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within
one year
15
Net current assets
Total assets less current liabilities
Capital funds
Endowment funds
Income funds
Unrestricted funds
2024
£
2,820
34,159
36,979
1,620
£
225,292
417,291
642,583
35,359
677,942
188,691
489,251
677,942
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

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 2024.

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 A Lake

..............................

P Lake (Chairman)

Trustee

23 Oct 2024

AGE CONCERN - HIGHLANDS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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 or grantors 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.

AGE CONCERN - HIGHLANDS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

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.

AGE CONCERN - HIGHLANDS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

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

2024 2023
£ £
Donations and gifts 20 1,827

AGE CONCERN - HIGHLANDS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

4 Charitable activities

Services
Charitable rental income
CATs
£
25,832
-
25,832
Total
£
25,832
1,644
27,476
2023
£
37,855
988
38,843

5 Activities for generating funds

Unrestricted Total
funds 2023
£ £
Shop income - 354
6 Investments
**Unrestricted ** Unrestricted
funds funds
2024 2023
£ £
Income from listed investments 8,679 7,977
Interest receivable 9,552 8,380
18,231 16,357
7 Other income
2024 2023
£ £
Net gain on disposal of tamgible fixed assets 17,854 -

AGE CONCERN - HIGHLANDS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

8 Charitable activities

Activities
undertaken
directly
£
Staff costs
5,424
Depreciation and impairment
3,999
Other expenditure
32,797
42,220
42,220
Analysis by fund
Unrestricted funds
42,220
42,220
Total
£
5,424
3,999
32,797
42,220
42,220
42,220
42,220
2023
£
5,200
4,427
46,028
55,655
55,655

9 Governance costs

Included within Governance costs are fees of £1,140 (2023- £1,080) for the Independent Examination.

10 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.

11 Employees

The average monthly number of employees during the year was:

2024 2023
Number Number
1 1
Employment costs 2024 2023
£ £
Wages and salaries 5,424 5,200

There were no employees whose annual remuneration was more than £60,000.

AGE CONCERN - HIGHLANDS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

12
Tangible fixed assets
Cost
At 1 April 2023
Disposals
At 31 March 2024
Depreciation and impairment
At 1 April 2023
Depreciation charged in the year
Eliminated in respect of disposals
At 31 March 2024
Carrying amount
At 31 March 2024
At 31 March 2023
13
Fixed asset investments
BMO Global Asset Management
Black Rock Charinco
Wise Investments
CAF Equity Growth
Black Rock Charinshare
-
14
Debtors
Amounts falling due within one year:
Prepayments and accrued income
Land and
buildings
Plant and
machinery
Motor vehicles
£
£
£
299,313
38,109
82,331
-
-
(32,000)
299,313
38,109
50,331
74,670
35,177
80,469
2,993
440
566
-
-
(31,854)
77,663
35,617
49,181
221,650
2,492
1,150
224,643
2,933
1,862
2024
£
81,531
36,873
188,691
-
110,196
417,291
2024
£
2,820
Total
£
419,753
(32,000)
387,753
190,316
3,999
(31,854)
162,461
225,292
229,438
2023
£
78,186
37,433
166,538
15,950
107,067
405,174
2023
£
3,425

AGE CONCERN - HIGHLANDS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

15 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Other taxation and social security
Other creditors
Accruals and deferred income
2024
£
-
-
1,620
1,620
2023
£
35
1,203
1,080
2,318

16 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 (2023 - Nil).

AGE CONCERN - HIGHLANDS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

17 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 2022
r
£
186,322
186,322
Movement in funds
Incoming
esources
Resources
expended
Transfers
Gains and
losses
Balance at
1 April 2023
r
£
£
£
£
£
-
-
-
(19,784)
166,538
-
-
-
(19,784)
166,538
Movement in funds
Incoming
esources
Resources
expended
Transfers
Gains and
losses
Balance at
31 March 2024
£
£
£
£
£
-
-
20,000
2,153
188,691
-
-
20,000
2,153
188,691
Movement in funds
Incoming
esources
Resources
expended
Transfers
Gains and
losses
Balance at
31 March 2024
£
£
£
£
£
-
-
20,000
2,153
188,691
-
-
20,000
2,153
188,691
188,691

AGE CONCERN - HIGHLANDS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

18 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 April Incoming Incoming Resources Transfers Gains and At 31 March
2023 resources expended losses 2024
£ £ £ £ £ £
General funds 490,166 63,581 (50,490) (20,000) 5,994 489,251
Previous year: At 1 April Incoming Resources Transfers Gains and At 31 March
2022 resources expended losses 2023
£ £ £ £ £ £
General funds 510,444 57,381 (63,470) - (14,189) 490,166
Analysis of net assets between funds
Unrestricted Endowment Total
funds funds
2024 2024 2024
£ £ £
At 31 March 2024:
Tangible assets 225,292 - 225,292
Investments 228,600 188,691 417,291
Current assets/(liabilities) 35,359 - 35,359
489,251 188,691 677,942
Unrestricted Endowment Total
funds funds
2023 2023 2023
£ £ £
At 31 March 2023:
Tangible assets 229,438 - 229,438
Investments 238,636 166,538 405,174
Current assets/(liabilities) 22,092 - 22,092
490,166 166,538 656,704

19 Analysis of net assets between funds

Issuer Chapman Worth Document generated Wed, 23rd Oct 2024 13:02:40 BST Document fingerprint d21dbf982ab3c8a5d16e5783b85c6691

Parties involved with this document

Document processed

Party + Fingerprint

Wed, 23rd Oct 2024 13:48:04 BST Mr Pat Lake - Signer (6c20e1371e0301fcc722a1051409c0d2) Audit history log Date Action Wed, 23rd Oct 2024 13:48:04 BST Mr Pat Lake viewed the envelope (84.64.23.11) Wed, 23rd Oct 2024 13:48:04 BST This envelope has been signed by all parties (84.64.23.11) Wed, 23rd Oct 2024 13:48:04 BST Mr Pat Lake signed the envelope (84.64.23.11) Wed, 23rd Oct 2024 13:42:20 BST Mr Pat Lake viewed the envelope (84.64.23.11) Wed, 23rd Oct 2024 13:02:45 BST Document emailed to party email (13.41.228.92) Wed, 23rd Oct 2024 13:02:45 BST Sent the envelope to Mr Pat Lake for signing () Wed, 23rd Oct 2024 13:02:45 BST Envelope generated () Wed, 23rd Oct 2024 13:02:40 BST Envelope has been set to automatically remind the active signer every 14 day(s). (18.133.63.166) Wed, 23rd Oct 2024 13:02:40 BST Mr Pat Lake has been assigned to this envelope. (18.133.63.166) Wed, 23rd Oct 2024 13:02:40 BST Document generated with fingerprint d21dbf982ab3c8a5d16e5783b85c6691. (18.133.63.166) Wed, 23rd Oct 2024 13:02:40 BST Envelope generated with fingerprint ea66c4599625c95e9f292e293cf3d8b3 (18.133.63.166)