Charity registration number: 1008497
## Age Concern Crediton
Annual Report and Financial Statements for the Year Ended 31 March 2022
Wortham Jaques Limited Chartered Accountants & Charity Advisers 130a High Street Crediton Devon EX17 3LQ
## **Age Concern Crediton**
## **Contents (continued)**
|Reference and Administrative Details|1|
|---|---|
|Trustees' Report|2 to 6|
|Independent Examiner's Report|7|
|Statement of Financial Activities|8 to 9|
|Balance Sheet|10|
|Notes to the Financial Statements|11 to 29|
## **Age Concern Crediton**
## **Reference and Administrative Details**
**Trustees** Jenny Berg, Chair Brian Fyfe Philip Hutchens Shuana Miles John Potter Philip Wolfgang **Charity Registration Number** 1008497 **Principal Office** The Lady Mills Centre Deep Lane Crediton Devon EX17 2BX **Independent Examiner** Wortham Jaques Limited Chartered Accountants & Charity Advisers 130a High Street Crediton Devon EX17 3LQ
Page 1
## **Age Concern Crediton**
## **Trustees' Report**
The Trustees present their report and financial statements for the year ended 31 March 2022. The financial statements have been prepared in accordance with the Accounting Policies set out on page 11 and complies with the Charity’s governing document, applicable law and the requirements of the second edition of the Charities Statement of Recommended Practice issued in October 2019.
## **Reference and Administrative Information**
The constitution of the Charity is dated 30 January 1991 and has subsequently been amended on 10 March 1994, 1 September 1994 and 5 December 2011. The Charity was registered with the Charity Commission under Charity No: 1008497 on 25 February 1992.
## **Governance and Internal Control**
## **Governing Document**
The Charity is governed by a constitution agreed by the membership in 2010.
## **Governance and Decision Making**
The body responsible for the management of the Charity is the Board of Trustees which meets on a bi-monthly basis and on other occasions when considered necessary **.** Each Trustee other than the Chairman is given an area of responsibility and reports to the Board of Trustees at the bi-monthly meetings.
## **Trustee Recruitment**
The Trustees are elected by the existing Trustees with no time limit on their term in office. Nominees are normally recommended by an existing Trustee and approved by all the Trustees.
## **Internal Control**
The Trustees have overall responsibility for ensuring the Charity has appropriate systems of internal control across the entire organization. They are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity, and that the financial statements follow best practice.
They are also responsible for safeguarding the assets of the Charity and taking reasonable steps for prevention and detection of fraud and other irregularities. The systems of internal control are designed to provide reasonable but not absolutely assurance against material misstatement or loss.
They include:
1. An annual budget approved by the Trustees.
- Regular consideration by the Trustees of the financial results, variances from budget forecast and
- 2. performance indicators.
- Formal adoption of financial regulations which include delegation of authority and segregation of
- 3. duties.
## **Risks**
The Trustees have in place a risk management strategy and this process includes a review by the Trustees and the Chief Executive Officer. The process identifies the type of risk the Charity faces, as well as priorities in terms of likelihood of occurrence and potential impact and identifies the means of mitigation against such risks.
Page 2
## **Age Concern Crediton**
## **Trustees' Report (continued)**
## **Reserves**
The Trustees acknowledge the need to maintain an adequate level of reserves to:
1. Ensure continuity in the event of a large variation in income.
2. Bridge cash-flow problems.
3. Accommodate possible redundancy and other staff associated costs.
4. Plan for growth to grasp unexpected strategic development opportunities.
5. Find finance for specific future projects.
6. Assist in the generation of future projects.
7. Assist in the generation of future income.
The Trustees determine the level of reserves needed by:
1. Forecasting the level of income anticipated over the short to medium term.
2. Forecasting the level of expenditure in the short to medium term, based on planned activities.
- Analysing future needs, opportunities, contingencies or risks which cannot be met out of income,
3. including an assessment of the likelihood of these arising, and the potential consequences of the Charity not being able to meet them.
## **Investments**
Responsibility for sanctioning and approving investments lies with the Trustees who will be advised by its external advisers on all medium- and long-term investments of all policies to strike a balance between a good return on investment including capital growth and security. Investments are reviewed regularly, and ethical factors are considered whether they reflect the charitable objects of the organisation and are consistent with Charity Law.
## **Governance and Management**
The Board of Trustees meets on a bi-monthly basis and is responsible for the governance of the organisation. Decisions on the day-to-day operation of the Charity are taken by the Chief Officer. The Board receives monthly reports from the Chief Officer on operational matters and reports from the Trustee responsible individually for finance, the shop, human resources, property maintenance and Centre services. The Board of Trustees hope to appoint additional Trustees to be responsible for publicity and public relations and for fund raising. Decisions on matters of significant implications for the organisation are brought to the Board of Trustees. These include:
1. Organisational priorities.
2. All matters of risk – in particular resource and reputational risk.
3. Significant organisational change.
4. Major initiatives.
5. Policy information and development.
6. Equalities and diversity.
The organisation is committed to the principle and practice of equal opportunities in employment for all its employees, volunteers and applicants for employment. We also believe that all older people should receive services that meet their needs. As part of this commitment, we work to ensure that our own services and resources are relevant to the needs of all older people and are perceived by them as being relevant and accessible.
Page 3
## **Age Concern Crediton**
## **Trustees' Report (continued)**
## **Mission and Strategic Outcome**
The Board of Trustees keeps under review the organisation mission and strategic outcome.
## **Mission**
Age Concern, Crediton is committed to providing quality services to people aged 50 years of age or over (referred to as ‘older people’) and their carers in Crediton and surrounding areas
## **Aims and Objectives for the Year**
In settling their objectives and providing services, the Trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
During the year the organisation was pro-active in contributing towards the well-being of older people through the provisions of a range of services, both community based and in their homes.
- Our services aim to provide the following:
- a) The opportunity for social contact and reduction of isolation.
- To help maintain physical health and general well-being thus prolonging and encouraging independent
- b) living.
- c) Respite care for carers.
- d) To be responsive to the needs and wishes of the users.
- e) To improve the quality of life and self-esteem of users.
- f) To help users, other elderly people and their relatives and carers to source help and advice.
- Providing services that meet older peoples’ needs so to enable them to maintain independence, to
- g) safeguard privacy and to offer opportunities to contribute to society as fully as possible.
## **Principal Services and Activities**
Age Concern Crediton has the organisational capacity to deliver a number of key services to older people within the town. Most of these services are managed by paid staff and delivered by volunteers, who are appropriately recruited and trained and supported. However, this year Age Concern Crediton had to vary and expand the principal services and activities offered due to the restrictions on social contact imposed by the Government to stop the spread of Coronavirus and these are detailed below.
## **Day Centre**
Prior to the pandemic, Our Day Centre situated in Deep Lane, Crediton, known as the Lady Mills Centre, was open five days a week – Monday to Friday. A home cooked meal and varied activities are provided along with transport and regular outings. In this year the Centre reopened when initially the number of guests was limited in accordance with the social distancing rules in place at the time. By the end of the year the Centre was open four days a week – Monday, Wednesday, Thursday and Friday. On Tuesdays there is a monthly drop-in Coffee Morning, and the afternoon plays host to the Memory Café (formerly operated by The Dementia Alliance).
## **Home Support**
The Home Support Service offers assistance on a social and practical level. It aims to support older people and their carers, to maintain as independent and full a life as possible, by offering practical support in their home including domestic cleaning and shopping services. In this year the services were initially restricted due to the social distancing rules but by the end of the year the full service was back up and running.
Page 4
## **Age Concern Crediton**
## **Trustees' Report (continued)**
During the second lockdown a weekly hot meal on wheels service was provided using ingredients provided free by Morrisons and Tesco’s and cooked by a volunteer free of charge.
Upon the ending of lockdown, we resumed the domestic support operation and in the later part of the year introduced a home companion service, which allows carer’s to take a few hours respite break.
We also maintained our volunteer run befriending service, which resumed personal home visits having been operating solely via the telephone during the pandemic.
## **Keep Fit**
Due to the pandemic no Keep Fit sessions that are normally organised on a weekly basis at the local Leisure Centre. Unfortunately, at the end of lockdown the session instructor did not want to restart the classes and despite advertisements we have been unable as yet to find a replacement
## **Art Group**
Similarly due to the pandemic no Art Group sessions that normally take place twice a month at the Lady Mills Centre under the supervision of a tutor, took place in this year, but again this has restarted since the year end and continues to grow in popularity
## **Foot Care**
A Foot Care service is provided on a six-weekly basis at the Lady Mills Centre providing toe, nail and hand fingernail clipping. The service is operated by three volunteers and has seen significant uptake from residents
## **Fund Raising**
In the past in addition to charges for the services outlined above, the main sources of income of the Charity were a grant from Devon County Council to provide community support in Mid-Devon and our shop in the High Street in Crediton which is totally stocked by donations. Whilst the former was received in this year, there was no contribution from the latter as trading was poor after the reopening after lockdown and sadly after the year end the Trustees took the decision to close the shop and sell the premises for much need funds.
In this year, in addition to support from the Government through grants and the furlough system, a number of successful applications were made to grant making charities and organisations Some of these were restricted as to use and these are outlined in note 19 to the financial statements. Non restricted grants and donations from individuals and commercial entities including NFU Mutual and The Cooperative society were also received in this year
## **Results for the Year**
The recommencement of our charitable activities after lockdown on a restricted basis and the poor trading of our shop resulted in an excess of expenditure over income in the year despite the level of government grants and donations received rather than an excess of income over expenditure in the previous year.
Total income for the year was £145,067 (2021: £172,129) The total expenditure was £161,536 (2021: £159,137).
At 31 March 2022, the Charity had unrestricted funds of £365,760 (2021: £378,750) as a result of an excess of expenditure over income for the year of £12,990 (2021: Excess of income over expenditure of £5,605). The balances on the designated fund for Property Maintenance at 31 March 2022 was £20,862 (2021: £20,862).
At 31 March 2022, the Charity had restricted funds of £8,729 (2021: £12,028).
Page 5
## **Age Concern Crediton**
## **Trustees' Report (continued)**
## **Planning for 2022/2023**
The planning for 2022/23 continues to be affected by the aftermath of the pandemic, which has in particular led to the decision to close the shop. It is anticipated that the Day Centre will again run at a loss in this year but it is hoped that the Home Support service will continue to grow. The Trustees will continue to look for other sources of funds concentrating on applications to organisations that provide grant finance.
The long-term aim of the Trustees is to reduce the charity’s reliance on the funding from Devon County Council and so they intend to take the following steps: -
1. Continue to apply to organisations that provide grant finance.
2. There will be an active search for more users for the services provided by the Charity.
3. Steps will continue to be made to raise the profile of the Charity in the area.
4. Further fund-raising events will be arranged.
The Trustees will continue to look at the services provided by the Charity and may with regret have to decide to increase the charges for our services and/or reduce the range of services so as to ensure the future of the Charity.
## **Statement of Trustees' Responsibilities**
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity 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 governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
The annual report was approved by the trustees of the charity on 31 October 2022 and signed on its behalf by:
......................................... John Potter Trustee
Page 6
## **Age Concern Crediton**
## **Independent Examiner's Report to the trustees of Age Concern Crediton**
I report to the trustees on my examination of the accounts of Age Concern Crediton for the year ended 31 March 2022.
## **Responsibilities and basis of report**
As the charity trustees of Age Concern Crediton you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Age Concern Crediton's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner’s statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of Age Concern Crediton as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting 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 accounts to be reached.
...................................... Charlotte Chapman Gibbs BFP ACA Wortham Jaques Limited Chartered Accountants & Charity Advisers
130a High Street Crediton Devon EX17 3LQ
14 November 2022
Page 7
## **Age Concern Crediton**
## **Statement of Financial Activities for the Year Ended 31 March 2022**
|**Note**
**Income and Endowments from:**
Donations and legacies
2
Charitable activities
3
Other trading activities
4
Investment income
5
Total income
**Expenditure on:**
Raising funds
6
Charitable activities
7
Total expenditure
Net (expenditure)/income
Gross transfers between funds
**Other recognised gains and losses**
Gains/losses on revaluation of fixed assets for
charity's own use
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
19|**Unrestricted**
**funds**
**£**
41,981
74,769
11,718
40
128,508
(21,093)
(129,824)
(150,917)
(22,409)
9,973
(554)
(12,990)
378,750
365,760|**Restricted**
**funds**
**£**
5,650
10,909
-
-
16,559
-
(10,439)
(10,439)
6,120
(9,419)
-
(3,299)
12,028
8,729|**Total**
**2022**
**£**
47,631
85,678
11,718
40|
|---|---|---|---|
||||145,067|
||||(21,093)
(140,263)|
||||(161,356)|
||||(16,289)
554
(554)|
||||(16,289)
390,778|
||||374,489|
The notes on pages 11 to 29 form an integral part of these financial statements. Page 8
## **Age Concern Crediton**
## **Statement of Financial Activities for the Year Ended 31 March 2022 (continued)**
|**Note**
**Income and Endowments from:**
Donations and legacies
2
Charitable activities
3
Other trading activities
4
Investment income
5
Total income
**Expenditure on:**
Raising funds
6
Charitable activities
7
Total expenditure
Net income
Gross transfers between funds
**Other recognised gains and losses**
Gains/losses on revaluation of fixed assets for
charity's own use
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
19|**Unrestricted**
**funds**
**£**
86,594
45,565
1,647
54
133,860
(25,790)
(102,585)
(128,375)
5,485
674
(554)
5,605
373,145
378,750|**Restricted**
**funds**
**£**
28,543
9,726
-
-
38,269
(2,000)
(28,762)
(30,762)
7,507
(120)
-
7,387
4,641
12,028|**Total**
**2021**
**£**
115,137
55,291
1,647
54|
|---|---|---|---|
||||172,129|
||||(27,790)
(131,347)|
||||(159,137)|
||||12,992
554
(554)|
||||12,992
377,786|
||||390,778|
All of the charity's activities derive from continuing operations during the above two periods.
The notes on pages 11 to 29 form an integral part of these financial statements. Page 9
## **Age Concern Crediton**
## **(Registration number: 1008497) Balance Sheet as at 31 March 2022**
|**Note**
**Fixed assets**
Tangible assets
14
**Current assets**
Debtors
15
Cash at bank and in hand
16
**Creditors: Amounts falling due within one year**
17
**Net current assets**
**Net assets**
**Funds of the charity:**
**Restricted income funds**
Restricted funds
**Unrestricted income funds**
Unrestricted funds
Revaluation reserve
Total unrestricted funds
**Total funds**
19|**2022**
**£**
314,136
4,731
61,983
66,714
(6,361)
60,353
374,489
8,729
175,316
190,444
365,760
374,489|**2021**
**£**
321,550
9,076
63,647|
|---|---|---|
|||72,723
(3,495)|
|||69,228|
|||390,778|
|||12,028
187,754
190,996|
|||378,750|
|||390,778|
The financial statements on pages 8 to 29 were approved by the trustees, and authorised for issue on 31 October 2022 and signed on their behalf by:
......................................... Jenny Berg Trustee
......................................... John Potter Trustee
The notes on pages 11 to 29 form an integral part of these financial statements. Page 10
## **Age Concern Crediton**
## **Notes to the Financial Statements for the Year Ended 31 March 2022**
## **1 Accounting policies**
## **Statement of compliance**
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
## **Basis of preparation**
Age Concern Crediton meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
## **Going concern**
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
## **Income and endowments**
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
## _**Donations and legacies**_
Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.
## _**Grants receivable**_
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.
## _**Investment income**_
Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.
## **Expenditure**
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
## _**Raising funds**_
These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.
Page 11
## **Age Concern Crediton**
## **Notes to the Financial Statements for the Year Ended 31 March 2022 (continued)**
## _**Charitable activities**_
Charitable expenditure comprises those costs incurred by the charity 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**
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
## **Governance costs**
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.
## **Government grants**
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
## **Taxation**
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by 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 such income or gains are applied exclusively to charitable purposes.
## **Tangible fixed assets**
Individual fixed assets costing £100.00 or more are initially recorded at cost.
## **Depreciation and amortisation**
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
**Asset class** Office equipment Freehold property Motor vehicles
**Depreciation method and rate** 30% straight line basis 4% straight line basis 20% reducing balance basis
Page 12
## **Age Concern Crediton**
## **Notes to the Financial Statements for the Year Ended 31 March 2022 (continued)**
## **Trade debtors**
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
## **Trade creditors**
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
## **Borrowings**
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
## **Fund structure**
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Page 13
## **Age Concern Crediton**
## **Notes to the Financial Statements for the Year Ended 31 March 2022 (continued)**
## **Pensions and other post retirement obligations**
The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
## **Financial instruments**
## _**Classification**_
Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.
## _**Recognition and measurement**_
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.
Page 14
## **Age Concern Crediton**
## **Notes to the Financial Statements for the Year Ended 31 March 2022 (continued)**
## **2 Income from donations and legacies**
|Donations and legacies;
Donations from individuals
Gift aid reclaimed
Grants, including capital grants;
Government grants
Grants from other charities
**Total for 2022**
**Total for 2021**|**Unrestricted**
**funds**
**General**
**£**
20,172
442
20,367
1,000
41,981
86,594|**Restricted**
**funds**
**£**
1,250
-
-
4,400
5,650
28,543|**Total**
**funds**
**£**
21,422
442
20,367
5,400|
|---|---|---|---|
||||47,631|
||||115,137|
## **3 Income from charitable activities**
|Outings, activities etc.
Lady Mills Centre
Home Support
**Total for 2022**
**Total for 2021**|**Unrestricted**
**funds**
**General**
**£**
1,468
47,567
25,734
74,769
45,565|**Restricted**
**funds**
**£**
-
10,909
-
10,909
9,726|**Total**
**funds**
**£**
1,468
58,476
25,734|
|---|---|---|---|
||||85,678|
||||55,291|
## **4 Income from other trading activities**
|Trading income;
Shop income from sale of donated goods and services
Local fundraising and street collection income
Lotteries and competitions income
Property rental income
Other income from other trading activities
**Total for 2022**
**Total for 2021**|**Unrestricted**
**funds**
**General**
**£**
7,732
164
660
285
2,877
11,718
1,647|**Total**
**funds**
**£**
7,732
164
660
285
2,877|
|---|---|---|
|||11,718|
|||1,647|
Page 15
## **Age Concern Crediton**
## **Notes to the Financial Statements for the Year Ended 31 March 2022 (continued)**
## **5 Investment income**
|Interest receivable and similar income;
Interest receivable on bank deposits
**Total for 2022**
**Total for 2021**|**Unrestricted**
**funds**
**General**
**£**
40
40
54|**Total**
**funds**
**£**
40|
|---|---|---|
|||40|
|||54|
## **6 Expenditure on raising funds**
## **a) Costs of generating donations and legacies**
|||**Total**||**Total**||
|---|---|---|---|---|---|
|||**2022**||**2021**||
||**Note**|**£**||**£**||
|Donations|||-||205|
Page 16
## **Age Concern Crediton**
## **Notes to the Financial Statements for the Year Ended 31 March 2022 (continued)**
## **b) Costs of trading activities**
|**Note**
Fundraising trading costs;
Fundraising
Lotteries and competitions
Other direct costs of activities for generating
funds
Allocated support costs
Staff Costs
**Total for 2022**
**Total for 2021**
Costs of trading activities
**Total for 2022**
**Total for 2021**|**Unrestricted**
**funds**
**General**
**£**
1,919
170
2,851
1,373
14,780
21,093
25,790
**Direct costs**
**£**
17,599
17,599
23,666|**Restricted**
**funds**
**£**
-
-
-
-
-
-
2,000
**Allocated**
**support costs**
**£**
3,494
3,494
4,124|**Total**
**funds**
**£**
1,919
170
2,851
1,373
14,780|
|---|---|---|---|
||||21,093|
||||27,790|
||||**Total**
**costs**
**£**
21,093|
||||21,093|
||||27,790|
Page 17
## **Age Concern Crediton**
## **Notes to the Financial Statements for the Year Ended 31 March 2022 (continued)**
## **7 Expenditure on charitable activities**
|**Note**
Outings, activities etc.
Lady Mills Centre
Home Support
Staff costs
Allocated support costs
Governance costs
**Total for 2022**
**Total for 2021**
Outings, activities etc.
Lady Mills Centre
Home Support
Governance
**Total for 2022**
**Total for 2021**|**Unrestricted**
**funds**
**General**
**£**
289
26,691
1,805
62,697
8,179
30,163
129,824
102,585
**Activity**
**undertaken**
**directly**
**£**
289
74,095
23,295
5,704
103,383
87,443|**Restricted**
**funds**
**£**
-
1,888
-
8,551
-
-
10,439
28,762
**Activity**
**support costs**
**£**
-
10,674
1,747
24,459
36,880
43,904|**Total**
**funds**
**£**
289
28,579
1,805
71,248
8,179
30,163|
|---|---|---|---|
||||140,263|
||||131,347|
||||**Total**
**expenditure**
**£**
289
84,769
25,042
30,163|
||||140,263|
||||131,347|
Page 18
## **Age Concern Crediton**
## **Notes to the Financial Statements for the Year Ended 31 March 2022 (continued)**
## **8 Analysis of governance and support costs**
## **Raising funds expenditure**
**Costs of generating donations and legacies**
|**Raising funds expenditure**
**Costs of generating donations and legacies**|||
|---|---|---|
|**Basis of allocation**
Fundraising costs
**Costs of trading activities**
**Unrestricted**
**funds**
**Basis of allocation**
**General**
**£**
Social Lottery licence
170
Staff costs
A
14,780
Rent, rates and waster collection
489
Light, heat and power
858
Repairs and maintenance
A
2,861
Telepone and internet
A
687
Computer software and
maintenance costs
A
435
Printing, postage and stationery
A
139
Sundry expenses
A
4
Advertising
A
138
Legal and professional fees
A
90
Consultancy fees
A
244
Depreciation charges
A
198
**Total for 2022**
21,093
**Total for 2021**
25,790|**Total**
**2022**
**£**
-
**Restricted**
**funds**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
2,000|**Total**
**2021**
**£**
205|
|||**Total**
**2022**
**£**
170
14,780
489
858
2,861
687
435
139
4
138
90
244
198|
|||21,093|
|||27,790|
Page 19
## **Age Concern Crediton**
## **Notes to the Financial Statements for the Year Ended 31 March 2022 (continued)**
## **Charitable activities expenditure**
|**Basis of allocation**
Meals, cleaning and cooking
Direct sessional costs
Staff costs
A
Staff training
Travelling expenses
Volunteers' expenses
Sessional leaders and facilitators
Minibus costs
Drivers and transport
Rent, rates and waste collection
Light, heat and power
Insurance
Repairs and maintenance
A
Telephone and internet
A
Computer software and
maintenance costs
A
Advertising
A
Printing, postage and stationery
A
Sundry expenses
A
Cleaning
Legal and professional fees
A
Consultancy fees
A
Accountancy fees
Bad debts written off
Depreciation charges
A
**Total for 2022**
**Total for 2021**|**Unrestricted**
**funds**
**General**
**£**
2,511
932
77,541
795
1,543
155
-
12,154
660
674
1,287
2,690
680
1,030
3,915
1,242
1,252
787
428
810
2,198
5,704
3,622
7,216
129,826
103,612|**Restricted**
**funds**
**£**
-
649
8,551
-
-
-
1,239
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
10,439
30,762|**Total**
**funds**
**£**
2,511
1,581
86,092
795
1,543
155
1,239
12,154
660
674
1,287
2,690
680
1,030
3,915
1,242
1,252
787
428
810
2,198
5,704
3,622
7,216|
|---|---|---|---|
||||140,265|
||||134,374|
Page 20
## **Age Concern Crediton**
## **Notes to the Financial Statements for the Year Ended 31 March 2022 (continued)**
## **Support costs allocated to raising funds**
|**Basis of allocation**
Costs of trading activities
A
**Total for 2022**
**Total for 2021**
**Support costs allocated to charitable activities**
**Basis of allocation**
Lady Mills Centre
A
Home Support
A
Governance
A
**Total for 2022**
**Total for 2021**|**Finance**
**costs**
**£**
-
-
1
**Finance**
**costs**
**£**
-
-
-
-
5|**Information**
**technology**
**£**
435
435
416
**Information**
**technology**
**£**
653
218
3,045
3,916
3,745|**Staff costs**
**£**
**Administration**
**costs**
**£**
2,121
402
2,121
402
2,812
368
**Staff costs**
**£**
**Administration**
**costs**
**£**
3,181
604
1,060
201
14,844
2,817
19,085
3,622
21,412
4,456|**Premises**
**costs**
**including**
**depreciation**
**£**
198
198
263
**Premises**
**costs**
**including**
**depreciation**
**£**
5,729
99
1,387
7,215
11,425|**Other**
**support**
**costs**
**£**
338
338
265
**Other**
**support**
**costs**
**£**
507
169
2,367
3,043
2,440|**Total**
**funds**
**£**
3,494|
|---|---|---|---|---|---|---|
|||||||3,494|
|||||||4,125|
|||||||**Total**
**funds**
**£**
10,674
1,747
24,460|
|||||||36,881|
|||||||43,483|
## **Basis of allocation**
**Reference Method of allocation** A Estimated resources used
Page 21
## **Age Concern Crediton**
## **Notes to the Financial Statements for the Year Ended 31 March 2022 (continued)**
## **Governance costs**
|Staff costs
Wages and salaries
Pension costs
Independent examiner fees
Examination of the financial statements
Depreciation, amortisation and other similar costs
Other governance costs
Allocated support costs
**Total for 2022**
**Total for 2021**
**9**
**Net incoming/outgoing resources**
Net (outgoing)/incoming resources for the year include:
Depreciation of fixed assets|**Unrestricted**
**funds**
**General**
**£**
14,575
269
1,200
1,387
4,504
8,228
30,163
30,294
**2022**
**£**
1,387|**Total**
**funds**
**£**
14,575
269
1,200
1,387
4,504
8,228|
|---|---|---|
|||30,163|
|||30,294|
|||**2021**
**£**
1,844|
## **10 Trustees remuneration and expenses**
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
Page 22
## **Age Concern Crediton**
## **Notes to the Financial Statements for the Year Ended 31 March 2022 (continued)**
## **11 Staff costs**
The aggregate payroll costs were as follows:
|The aggregate payroll costs were as follows:|||
|---|---|---|
|**Staff costs during the year were:**
Wages and salaries
Pension costs|**2022**
**£**
99,838
1,034
100,872|**2021**
**£**
100,783
899|
|||101,682|
The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:
|Charitable activities
Fundraising trading
Administration|**2022**
**No**
16
2
1
19|**2021**
**No**
16
2
1|
|---|---|---|
|||19|
No employee received emoluments of more than £60,000 during the year
## **12 Independent examiner's remuneration**
Examination of the financial statements
|**2022**|**2021**|
|---|---|
|**£**|**£**|
|1,200|1,428|
Page 23
## **Age Concern Crediton**
## **Notes to the Financial Statements for the Year Ended 31 March 2022 (continued)**
## **13 Taxation**
The charity is a registered charity and is therefore exempt from taxation.
## **14 Tangible fixed assets**
|**Cost**
At 1 April 2021
At 31 March 2022
**Depreciation**
At 1 April 2021
Charge for the year
At 31 March 2022
**Net book value**
At 31 March 2022
At 31 March 2021
**15 Debtors**
Trade debtors
Prepayments
Accrued income
Other debtors
**16 Cash and cash equivalents**
Cash on hand
Cash at bank|**Land and**
**buildings**
**£**
300,000
300,000
7,000
1,000
8,000
292,000
293,000|**Furniture and**
**equipment**
**£**
18,933
18,933
17,542
982
18,524
409
1,391|**Furniture and**
**equipment**
**£**
18,933
18,933
17,542
982
18,524
409
1,391|**Motor vehicles**
**£**
42,436
42,436
15,277
5,432
20,709
21,727
27,159
**2022**
**£**
3,981
632
18
100
4,731
**2022**
**£**
480
61,503
61,983|**Motor vehicles**
**£**
42,436
42,436
15,277
5,432
20,709
21,727
27,159
**2022**
**£**
3,981
632
18
100
4,731
**2022**
**£**
480
61,503
61,983|**Total**
**£**
361,369
361,369
39,819
7,414
47,233
314,136
321,550
**2021**
**£**
6,424
485
2,167
-|
|---|---|---|---|---|---|---|
|||18,933||42,436|||
|||17,542
982||15,277
5,432|||
|||18,524||20,709|||
|||409||21,727|||
|||1,391||27,159|||
|||||**2022**
**£**
3,981
632
18
100
4,731
**2022**
**£**
480
61,503
61,983|||
|||||||9,076|
|||||||**2021**
**£**
177
63,470|
|||||||63,647|
Page 24
## **Age Concern Crediton**
## **Notes to the Financial Statements for the Year Ended 31 March 2022 (continued)**
## **17 Creditors: amounts falling due within one year**
|**17 Creditors: amounts falling due within one year**|||
|---|---|---|
|Trade creditors
Other taxation and social security
Other creditors
Accruals|**2022**
**£**
2,944
1,602
259
1,556
6,361|**2021**
**£**
1,454
315
90
1,636|
|||3,495|
## **18 Pension and other schemes**
## **Defined contribution pension scheme**
The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £765 (2021 - £661).
Page 25
## **Age Concern Crediton**
## **Notes to the Financial Statements for the Year Ended 31 March 2022 (continued)**
## **19 Funds**
|**Unrestricted funds**
**_General_**
Lady Mills Centre
Shop
Revaluation reserve
**_Designated_**
Property maintenance fund
**Total unrestricted funds**
**Restricted funds**
Building Fund
Garden Boxes
Outings
Wellbeing
Mini-bus
Crockery
Infection Control
Memory Cafe
**Total funds**|**Balance at 1**
**April 2021**
**£**
166,890
-
190,998
357,888
20,862
378,750
238
75
800
3,221
1,564
109
6,021
-
12,028
390,778|**Incoming**
**resources**
**£**
120,776
7,732
-
128,508
-
128,508
-
-
-
10,909
-
-
4,400
1,250
16,559
145,067|**Resources**
**expended**
**£**
(129,994)
(20,923)
-
(150,917)
-
(150,917)
-
-
-
(9,317)
-
-
(1,122)
-
(10,439)
(161,356)|**Transfers**
**£**
(3,218)
13,191
(554)
9,419
-
9,419
(120)
-
-
-
-
-
(9,299)
-
(9,419)
-|**Balance at**
**31 March**
**2022**
**£**
154,454
-
190,444|
|---|---|---|---|---|---|
||||||344,898
20,862|
||||||365,760|
||||||118
75
800
4,813
1,564
109
-
1,250|
||||||8,729|
||||||374,489|
Page 26
## **Age Concern Crediton**
## **Notes to the Financial Statements for the Year Ended 31 March 2022 (continued)**
|**Unrestricted funds**
**_General_**
Lady Mills Centre
Shop
Revaluation Reserve
**_Designated_**
Property maintenance fund
**Total unrestricted funds**
**Restricted**
Building fund
Garden boxes
Outings
Wellbeing
Mini-bus
Crockery
Fish & Chips
Meals on Wheels
PPE
Covid Travel Costs
Carpet Cleaning
Charity Running Costs
Shop Staff Costs
Infection Control
**Total restricted funds**
**Total funds**|**Balance at 1**
**April 2020**
**£**
160,731
-
191,552
352,283
20,862
373,145
358
75
800
1,735
1,564
109
-
-
-
-
-
-
-
-
4,641
377,786|**Incoming**
**resources**
**£**
119,110
14,750
-
133,860
-
133,860
-
-
-
9,726
-
-
2,687
600
1,115
1,150
200
14,770
2,000
6,021
38,269
172,129|**Resources**
**expended**
**£**
(102,790)
(25,585)
-
(128,375)
-
(128,375)
-
-
-
(8,240)
-
-
(2,687)
(600)
(1,115)
(1,150)
(200)
(14,770)
(2,000)
-
(30,762)
(159,137)|**Transfers**
**£**
(10,161)
10,835
(554)
120
-
120
(120)
-
-
-
-
-
-
-
-
-
-
-
-
-
(120)
-|**Balance at**
**31 March**
**2021**
**£**
166,890
-
190,998|
|---|---|---|---|---|---|
||||||357,888
20,862|
||||||378,750|
||||||238
75
800
3,221
1,564
109
-
-
-
-
-
-
-
6,021|
||||||12,028|
||||||390,778|
Page 27
## **Age Concern Crediton**
## **Notes to the Financial Statements for the Year Ended 31 March 2022 (continued)**
The specific purposes for which the funds are to be applied are as follows:
Unrestricted designated funds:
Property maintenance fund - These funds have been designated to cover future property repair and refurbishment costs.
Restricted funds:
Building fund - Represents funding received towards the cost of refurbishing the freehold property that is being released to general funds over 25 years in line with depreciation of those costs.
Garden boxes - Represents funding for the creation of plant troughs at the Lady Mills Centre to provide gardening as an activity and fresh produce for the meals.
Outings - Represents funding for outings.
Wellbeing - Represents funding received to finance the salary of a Wellbeing Co-ordinator to work with people in the local community.
Minibus - Represents a grant received from a Charitable Foundation for the purchase of a minibus to be used to transport our clients.
Crockery - Represents grant funding to purchase crockery for use in the Centre.
Infection Control - Grant received from Involve to fund ongoing covid-secure home support working practices to protect our clients and staff.
Memory Cafe - Donation received from Crediton Dementia Alliance, on it's closure, restricted to continue running a Memory Cafe in the centre.
The transfer between the Infection Control restricted fund and unrestricted funds represents the unrestriction of the remaining grant, as agreed with the funder.
Page 28
## **Age Concern Crediton**
## **Notes to the Financial Statements for the Year Ended 31 March 2022 (continued)**
## **20 Analysis of net assets between funds**
|Tangible fixed assets
Current assets
Current liabilities
Total net assets
Tangible fixed assets
Current assets
Current liabilities
Total net assets
**21 Analysis of net funds**
Cash at bank and in hand
Net debt
Cash at bank and in hand
Net debt|**Unrestricted funds**
**General**
**£**
**Designated**
**£**
314,136
-
37,003
20,862
(6,361)
-
344,778
20,862
**Unrestricted funds**
**General**
**£**
**Designated**
**£**
321,550
-
39,833
20,862
(2,825)
-
358,558
20,862
**At 1 April**
**2021**
**£**
63,647
63,647
**At 1 April**
**2020**
**£**
44,693
44,693|**Restricted**
**funds**
**£**
-
8,849
-
8,849
**Restricted**
**funds**
**£**
-
12,028
(670)
11,358
**Financing cash**
**flows**
**£**
(1,664)
(1,664)
**Financing cash**
**flows**
**£**
18,954
18,954|**Total funds at**
**31 March**
**2022**
**£**
314,136
66,714
(6,361)|
|---|---|---|---|
||||374,489|
||||**Total funds at**
**31 March**
**2021**
**£**
321,550
72,723
(3,495)|
||||390,778|
||||**At 31 March**
**2022**
**£**
61,983
61,983
**At 31 March**
**2021**
**£**
63,647
63,647|
Page 29