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2023-03-31-accounts

Charity registration number: 1008497

Age Concern Crediton

Annual Report and Financial Statements for the Year Ended 31 March 2023

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 27

Age Concern Crediton

Reference and Administrative Details

Trustees Jenny Berg, Chair Brian Fyfe Philip Hutchens Rev. Janet May 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 2023. The financial statements have been prepared in accordance with the Accounting Policies set out on page 7 and complies with the Charity’s governing document, applicable law and the requirements of the statements of the recommended practice – accounting and reporting by Charities (SORP 2005) issued in March 2005.

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.

  2. Regular consideration by the Trustees of the financial results, variances from budget forecast and

    1. performance indicators.

  4. Formal adoption of financial regulations which include delegation of authority and segregation of

    1. duties.

Risks

The Trustees have in place a risk management strategy and this process includes a review by the Trustees and the Chief 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.

  3. Analysing future needs, opportunities, contingencies or risks which cannot be met out of income,

  4. 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

Trustees and officers

The trustees and officers serving during the year and since the year end were as follows:

Trustees: Jenny Berg, Chair Brian Fyfe Philip Hutchens Rev. Janet May (appointed 31 October 2022) Shuana Miles John Potter Philip Wolfgang

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:

Page 3

Age Concern Crediton

Trustees' Report (continued)

  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.

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

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: -

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. These services are outlined below:-

Page 4

Age Concern Crediton

Trustees' Report (continued)

Community Club

Our Community Club situated in Deep Lane, Crediton, known as the Lady Mills Centre, was open four days a week – Monday to Friday excluding Tuesday. A home cooked meal and varied activities are provided along with transport to the Centre. On Tuesdays there is a monthly drop-in Coffee Morning, and in the afternoon plays host to the Memory Café (formerly operated by The Dementia Alliance). In March 2023 due to a fall in the numbers attending, the Trustees took the decision to close the Community Club on a permanent basis on Thursdays.

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.

We also run a volunteer home visit befriending service.

Art Group

There are Art Group sessions that take place twice a month at the Lady Mills Centre under the supervision of a tutor.

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 the Trustees took the decision to close the shop. After the year end the premises were sold for much need funds.

In this year, 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 20 to the financial statements. Non restricted grants and donations from individuals and commercial entities including NFU Mutual 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 £158,918 (2022: £145,067) The total expenditure was £164,668 (2022: £161,356).

At 31 March 2023, the Charity had unrestricted funds of £359,671 (2022: £365,760) as a result of an excess of expenditure over income for the year of £6,089 (2022: Excess of income over expenditure of £12,990). The balances on the designated fund for Property Maintenance at 31 March 2023 was £20,862 (2022: £20,862).

At 31 March 2023, the Charity had restricted funds of £9,068 (2022: £8,729).

Page 5

Age Concern Crediton

Trustees' Report (continued)

Planning for 2023/2024

The planning for 2023/24 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:

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 16 January 2024 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 2023.

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 FCA Wortham Jaques Limited Chartered Accountants & Charity Advisers

130a High Street Crediton Devon EX17 3LQ

23 January 2024

Page 7

Age Concern Crediton

Statement of Financial Activities for the Year Ended 31 March 2023

Note
Unrestricted
funds
£
Income and Endowments from:
Donations and legacies
2
35,288
Charitable activities
3
110,665
Other trading activities
4
2,231
Investment income
5
541
Total income
148,725
Expenditure on:
Raising funds
6
(20)
Charitable activities
7
(153,703)
Total expenditure
(153,723)
Gains/losses on
investment assets
(554)
Net
(expenditure)/income
(5,552)
Gross transfers between
funds
(537)
Net movement in funds
(6,089)
Reconciliation of funds
Total funds brought
forward
365,760
Total funds carried
forward
19
359,671		 Restricted
funds
£
2,650
5,603
-
-
8,253
-
(6,232)
(6,232)
-
2,021
(1,682)
339
8,729
9,068		 Continuing
operations
2023
£
37,938
116,268
2,231
541
156,978
(20)
(159,935)
(159,955)
(554)
(3,531)
(2,219)
(5,750)
374,489
368,739		 Discontinued
operations
2023
£
25
-
1,915
-
1,940
(4,713)
-
(4,713)
-
(2,773)
2,773
-
-
-		 Total
2023
£
37,963
116,268
4,146
541
158,918
(4,733)
(159,935)
(164,668)
(554)
(6,304)
554
(5,750)
374,489
368,739

The notes on pages 11 to 27 form an integral part of these financial statements. Page 8

Age Concern Crediton

Statement of Financial Activities for the Year Ended 31 March 2023 (continued)

Note
Unrestricted
funds
£
Income and Endowments from:
Donations and legacies
2
41,981
Charitable activities
3
74,769
Other trading activities
4
3,986
Investment income
5
40
Total income
120,776
Expenditure on:
Raising funds
6
(170)
Charitable activities
7
(129,824)
Total expenditure
(129,994)
Gains/losses on
investment assets
(554)
Net
(expenditure)/income
(9,772)
Gross transfers between
funds
(3,218)
Net movement in funds
(12,990)
Reconciliation of funds
Total funds brought
forward
378,750
Total funds carried
forward
19
365,760		 Restricted
funds
£
5,650
10,909
-
-
16,559
-
(10,439)
(10,439)
-
6,120
(9,419)
(3,299)
12,028
8,729		 Continuing
operations
2022
£
47,631
85,678
3,986
40
137,335
(170)
(140,263)
(140,433)
(554)
(3,652)
(12,637)
(16,289)
390,778
374,489		 Discontinued
operations
2022
£
-
-
7,732
-
7,732
(20,923)
-
(20,923)
-
(13,191)
13,191
-
-
-		 Total
2022
£
47,631
85,678
11,718
40
145,067
(21,093)
(140,263)
(161,356)
(554)
(16,843)
554
(16,289)
390,778
374,489

The notes on pages 11 to 27 form an integral part of these financial statements. Page 9

Age Concern Crediton

(Registration number: 1008497) Balance Sheet as at 31 March 2023

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		 2023
£
308,634
10,219
55,423
65,642
(5,537)
60,105
368,739
9,068
169,781
189,890
359,671
368,739		 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

The financial statements on pages 8 to 27 were approved by the trustees, and authorised for issue on 16 January 2024 and signed on their behalf by:

......................................... Jenny Berg Trustee

......................................... John Potter Trustee

The notes on pages 11 to 27 form an integral part of these financial statements. Page 10

Age Concern Crediton

Notes to the Financial Statements for the Year Ended 31 March 2023

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 2023 (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 2023 (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 charity 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.

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.

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.

Page 13

Age Concern Crediton

Notes to the Financial Statements for the Year Ended 31 March 2023 (continued)

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.

Investments

Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Investments in subsidiaries and associates are measured at cost less impairment. For investments in subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored.

Fair value measurement

The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.

2 Income from donations and legacies

Donations and legacies;
Donations from individuals
Grants, including capital grants;
Grants from other charities
Total for 2023
Total for 2022		 Unrestricted
funds
General
£
14,684
20,629
35,313
41,981		 Restricted
funds
£
-
2,650
2,650
5,650		 Total
funds
£
14,684
23,279
37,963
47,631

Page 14

Age Concern Crediton

Notes to the Financial Statements for the Year Ended 31 March 2023 (continued)

3 Income from charitable activities

Outings, activities etc.
Lady Mills Centre
Home Support
Total for 2023
Total for 2022		 Unrestricted
funds
General
£
2,629
55,724
52,312
110,665
74,769		 Restricted
funds
£
-
5,603
-
5,603
10,909		 Total
funds
£
2,629
61,327
52,312
116,268
85,678

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 2023
Total for 2022
5
Investment income
Interest receivable and similar income;
Interest receivable on bank deposits
Total for 2023
Total for 2022		 Unrestricted
funds
General
£
1,572
256
1,820
155
343
4,146
11,718
Unrestricted
funds
General
£
541
541
40		 Total
funds
£
1,572
256
1,820
155
343
4,146
11,718
Total
funds
£
541
541
40

Page 15

Age Concern Crediton

Notes to the Financial Statements for the Year Ended 31 March 2023 (continued)

6 Expenditure on raising funds

a) Costs of trading activities

Note
Fundraising trading costs;
Fundraising
Lotteries and competitions
Staff Costs
Allocated support costs
Total for 2023
Total for 2022		 Unrestricted
funds
General
£
1,034
20
3,620
59
4,733
21,093		 Total
funds
£
1,034
20
3,620
59
4,733
21,093

7 Expenditure on charitable activities

Note
Outings, activities etc.
Lady Mills Centre
Home Support
Depreciation, amortisation and other
similar costs
Staff costs
Allocated support costs
Governance costs
Total for 2023
Total for 2022		 Unrestricted
funds
General
£
1,036
20,214
5,957
5,182
86,813
237
34,264
153,703
129,824		 Restricted
funds
£
-
1,483
-
-
4,749
-
-
6,232
10,439		 Total
funds
£
1,036
21,697
5,957
5,182
91,562
237
34,264
159,935
140,263

Page 16

Age Concern Crediton

Notes to the Financial Statements for the Year Ended 31 March 2023 (continued)

Outings, activities etc.
Lady Mills Centre
Home Support
Governance
Total for 2023
Total for 2022		 Activity
undertaken
directly
£
1,036
72,056
46,548
13,486
133,126
103,383		 Activity
support costs
£
-
5,760
273
20,778
26,811
36,880		 Total
expenditure
£
1,036
77,816
46,821
34,264
159,937
140,263

8 Analysis of governance and support costs

Raising funds expenditure Costs of trading activities

Basis of allocation
Lottery prizes
Staff costs
A
Rent, rates and waster collection
Light, heat and power
Telepone and internet
A
Computer software and maintenance costs
A
Printing, postage and stationery
A
Sundry expenses
A
Advertising
A
Legal and professional fees
A
Consultancy fees
A
Depreciation charges
A
Total for 2023
Total for 2022		 Unrestricted
funds
General
£
20
3,620
258
464
11
314
11
2
7
2
12
12
4,733
21,093		 Total
2023
£
20
3,620
258
464
11
314
11
2
7
2
12
12
4,733
21,093

Page 17

Age Concern Crediton

Notes to the Financial Statements for the Year Ended 31 March 2023 (continued)

Charitable activities expenditure

Basis of allocation
Meals, cleaning and cooking
Direct sessional costs
Staff costs
A
Staff training
Travelling expenses
Volunteers' expenses
Minibus costs
Rent, rates and waste collection
Light, heat and power
Insurance
Repairs and maintenance
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
Bank charges
A
Depreciation charges
A
Total for 2023
Total for 2022		 Unrestricted
funds
General
£
3,116
1,659
100,843
2,327
5,455
30
3,836
603
1,821
3,601
1,502
1,338
290
775
1,487
600
1,114
186
1,470
13,486
1,628
11
6,527
153,705
129,824		 Restricted
funds
£
-
-
4,749
-
-
-
-
-
-
-
1,483
-
-
-
-
-
-
-
-
-
-
-
-
6,232
10,439		 Total
funds
£
3,116
1,659
105,592
2,327
5,455
30
3,836
603
1,821
3,601
2,985
1,338
290
775
1,487
600
1,114
186
1,470
13,486
1,628
11
6,527
159,937
140,263

Page 18

Age Concern Crediton

Notes to the Financial Statements for the Year Ended 31 March 2023 (continued)

Support costs allocated to raising funds

Basis of allocation
Costs of trading activities
A
Total for 2023
Total for 2022
Support costs allocated to charitable activities
Basis of allocation
Lady Mills Centre
A
Home Support
A
Governance
A
Total for 2023
Total for 2022		 Finance
costs
£
-
-
1
Finance
costs
£
-
-
10
10
5		 Information
technology
£
2
2
435
Information
technology
£
9
4
278
291
3,916		 Staff costs
£
Administration
costs
£
123
29
123
29
2,121
402
Staff costs
£
Administration
costs
£
431
100
185
42
14,030
3,256
14,646
3,398
34,873
4,766		 Premises
costs
including
depreciation
£
12
12
198
Premises
costs
including
depreciation
£
5,163
18
1,345
6,526
9,479		 Other
support
costs
£
16
16
338
Other
support
costs
£
57
24
1,859
1,940
4,911		 Total
funds
£
182
182
3,495
Total
funds
£
5,760
273
20,778
26,811
57,950

Basis of allocation

Reference Method of allocation A Estimated resources used

Page 19

Age Concern Crediton

Notes to the Financial Statements for the Year Ended 31 March 2023 (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 2023
Total for 2022
9
Net incoming/outgoing resources
Net outgoing resources for the year include:
Loss on disposal of fixed assets held for the charity's own use
Depreciation of fixed assets		 Unrestricted
funds
General
£
13,708
322
1,422
1,345
12,064
5,403
34,264
30,163
2023
£
865
5,662		 Total
funds
£
13,708
322
1,422
1,345
12,064
5,403
34,264
30,163
2022
£
-
7,215

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.

Donations made by the trustees without any conditions attached totalled £645 for the year (2022 - £160).

11 Staff costs

The aggregate payroll costs were as follows:

Staff costs during the year were:
Wages and salaries
Pension costs		 2023
£
107,822
1,390
109,212		 2022
£
99,838
1,034
100,872

Page 20

Age Concern Crediton

Notes to the Financial Statements for the Year Ended 31 March 2023 (continued)

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:

charity during the year expressed as full time equivalents was as follows:
Charitable activities
Fundraising trading
Administration
No employee received emoluments of more than £60,000 during the year
12 Independent examiner's remuneration
Examination of the financial statements		 2023
No
4
-
1
5
2023
£
1,422		 2022
No
2
1
1
4
2022
£
1,200

Page 21

Age Concern Crediton

Notes to the Financial Statements for the Year Ended 31 March 2023 (continued)

13 Taxation

The charity is a registered charity and is therefore exempt from taxation.

14 Tangible fixed assets

Cost
At 1 April 2022
Additions
Disposals
At 31 March 2023
Depreciation
At 1 April 2022
Charge for the year
Eliminated on disposals
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022
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
8,000
1,000
-
9,000
291,000
292,000		 Furniture and
equipment
£
18,933
290
-
19,223
18,524
415
-
18,939
284
409		 Furniture and
equipment
£
18,933
290
-
19,223
18,524
415
-
18,939
284
409		 Motor vehicles
£
42,436
21,245
(42,436)
21,245
20,709
4,257
(21,071)
3,895
17,350
21,727
2023
£
9,095
1,024
-
100
10,219
2023
£
173
55,250
55,423		 Motor vehicles
£
42,436
21,245
(42,436)
21,245
20,709
4,257
(21,071)
3,895
17,350
21,727
2023
£
9,095
1,024
-
100
10,219
2023
£
173
55,250
55,423		 Total
£
361,369
21,535
(42,436)
340,468
47,233
5,672
(21,071)
31,834
308,634
314,136
2022
£
3,981
632
18
100
19,223
18,524
415
-
18,939 3,895
284 17,350
409 21,727
2023
£
9,095
1,024
-
100
10,219
2023
£
173
55,250
55,423
4,731
2022
£
480
61,503
61,983

Page 22

Age Concern Crediton

Notes to the Financial Statements for the Year Ended 31 March 2023 (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		 2023
£
2,081
1,568
568
1,320
5,537		 2022
£
2,944
1,602
259
1,556
6,361

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 £1,068 (2022 - £765).

Page 23

Age Concern Crediton

Notes to the Financial Statements for the Year Ended 31 March 2023 (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
Memory Cafe
Furniture
Total funds		 Balance at 1
April 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		 Incoming
resources
£
148,725
1,940
-
150,665
-
150,665
-
-
-
5,603
-
-
-
2,650
8,253
158,918		 Resources
expended
£
(153,723)
(4,713)
-
(158,436)
-
(158,436)
-
-
-
(4,749)
-
-
-
(1,483)
(6,232)
(164,668)		 Transfers
£
(537)
2,773
(554)
1,682
-
1,682
(118)
-
-
-
(1,564)
-
-
-
(1,682)
-		 Balance at
31 March
2023
£
148,919
-
189,890
338,809
20,862
359,671
-
75
800
5,667
-
109
1,250
1,167
9,068
368,739

Page 24

Age Concern Crediton

Notes to the Financial Statements for the Year Ended 31 March 2023 (continued)

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 25

Age Concern Crediton

Notes to the Financial Statements for the Year Ended 31 March 2023 (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.

Furniture - Represents grant funding to purchase furniture for the Centre.

The transfer of £1,564 from the mini-bus restricted fund to unrestricted funds represents the spend of these funds on motor vehicles during the year.

20 Analysis of net assets between funds

Tangible fixed assets
Current assets
Current liabilities
Total net assets		 Unrestricted funds
General
£
Designated
£
308,634
-
35,712
20,862
(5,537)
-
338,809
20,862		 Restricted
funds
£
-
9,068
-
9,068		 Total funds at
31 March
2023
£
308,634
65,642
(5,537)
368,739

Page 26

Age Concern Crediton

Notes to the Financial Statements for the Year Ended 31 March 2023 (continued)

Tangible fixed assets
Current assets
Current liabilities
Total net assets
21 Analysis of net funds
Cash at bank and in hand
Net debt		 Unrestricted funds
General
£
Designated
£
314,136
-
37,123
20,862
(6,361)
-
344,898
20,862
At 1 April
2022
£
61,983
61,983		 Restricted
funds
£
-
8,729
-
8,729
Financing cash
flows
£
(6,560)
(6,560)		 Total funds at
31 March
2022
£
314,136
66,714
(6,361)
374,489
At 31 March
2023
£
55,423
55,423

Page 27