Charity registration number: 1008497
## Age Concern Crediton
Annual Report and Financial Statements for the Year Ended 31 March 2024
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 25|
## **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 2024. 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 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 absolute 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 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 have been 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)**
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.
## **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 have given careful consideration to the Charity Commissioners general guidance on public benefit.
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 several 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:-
## **Day Centre**
Our Day Centre 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).
## **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.
Page 4
## **Age Concern Crediton**
## **Trustees' Report (continued)**
## **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 this year, there was no contribution from the latter as the shop was closed in the previous year due to poor trading following the reopening after lockdown. In this year the premises were sold for much need funds.
In this year, several 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 this year
## **Results for the Year**
The lockdown continues to adversely affect our charitable activities in particular the trading of the shop which led to the decision to close the shop and to sell the premises. As last year there is an excess of expenditure over income in this year despite the level of government grants and donations received and the gain on the disposal of the shop premises of £11,269.
Total income for the year was £175,969 (£164,700 if the gain on the disposal of the shop premises is ignored) (2023: £158,918). The total expenditure was £187,152 (2023: £164,668).
On 31 March 2024, the Charity had unrestricted funds of £345,203 (2023: £359,671) as a result of an excess of expenditure over income for the year of £11,183 (£22,452 if the gain on the disposal of the shop premises is ignored) (2023: £5,750). The balances on the designated fund for Property Maintenance on 31 March 2024 was £20,862 (2023: £20,862).
On 31 March 2024, the Charity had restricted funds of £12,353 (2023: £9,068).
## **Planning for 2024/2025**
The planning for 2024/25 continues to be affected by the aftermath of the pandemic. It is anticipated that the Day Centre will again run at a loss 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 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.
Page 5
## **Age Concern Crediton**
## **Trustees' Report (continued)**
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 .................... 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 2024.
## **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
Date:.............................
Page 7
## **Age Concern Crediton**
## **Statement of Financial Activities for the Year Ended 31 March 2024**
|**Note**
**Unrestricted**
**funds**
**£**
**Income and Endowments from:**
Donations and legacies
2
15,903
Charitable activities
3
135,560
Other trading activities
4
3,944
Investment income
5
3,468
Other income
6
11,269
Total income
170,144
**Expenditure on:**
Raising funds
7
(745)
Charitable activities
8
(185,435)
Total expenditure
(186,180)
Net
(expenditure)/income
(16,036)
Gross transfers between
funds
1,568
Net movement in funds
(14,468)
**Reconciliation of funds**
Total funds brought
forward
359,671
Total funds carried
forward
20
345,203|**Restricted**
**funds**
**£**
1,325
4,500
-
-
-
5,825
-
(460)
(460)
5,365
(2,080)
3,285
9,068
12,353|**Continuing**
**operations**
**2024**
**£**
17,228
140,060
3,944
3,468
11,269
175,969
(745)
(185,895)
(186,640)
(10,671)
(512)
(11,183)
368,739
357,556|**Discontinued**
**operations**
**2024**
**£**
-
-
-
-
-
-
(512)
-
(512)
(512)
512
-
-
-|**Total**
**2024**
**£**
17,228
140,060
3,944
3,468
11,269|
|---|---|---|---|---|
|||||175,969|
|||||(1,257)
(185,895)|
|||||(187,152)|
|||||(11,183)
-|
|||||(11,183)
368,739|
|||||357,556|
The notes on pages 11 to 25 form an integral part of these financial statements. Page 8
## **Age Concern Crediton**
## **Statement of Financial Activities for the Year Ended 31 March 2024 (continued)**
|**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
7
(20)
Charitable activities
8
(153,703)
Total expenditure
(153,723)
Net
(expenditure)/income
(4,998)
Gross transfers between
funds
(1,091)
Net movement in funds
(6,089)
**Reconciliation of funds**
Total funds brought
forward
365,760
Total funds carried
forward
20
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)
(2,977)
(2,773)
(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)|
|||||(5,750)
-|
|||||(5,750)
374,489|
|||||368,739|
The notes on pages 11 to 25 form an integral part of these financial statements. Page 9
## **Age Concern Crediton**
## **(Registration number: 1008497) Balance Sheet as at 31 March 2024**
|**Note**
**Fixed assets**
Tangible assets
15
**Current assets**
Debtors
16
Cash at bank and in hand
17
**Creditors: Amounts falling due within one year**
18
**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**
20|**2024**
**£**
233,135
11,820
119,363
131,183
(6,762)
124,421
357,556
12,353
228,366
116,837
345,203
357,556|**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|
The financial statements on pages 8 to 25 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:
......................................... Jenny Berg Trustee
......................................... John Potter Trustee
The notes on pages 11 to 25 form an integral part of these financial statements. Page 10
## **Age Concern Crediton**
## **Notes to the Financial Statements for the Year Ended 31 March 2024**
## **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 2024 (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.
## **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 Depreciation method and rate** Office equipment 30% straight line basis Freehold property 4% straight line basis Motor vehicles 20% reducing balance basis
## **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.
Page 12
## **Age Concern Crediton**
## **Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)**
## **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 2024 (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 2024**
**Total for 2023**|**Unrestricted**
**funds**
**General**
**£**
2,460
13,443
15,903
35,313|**Restricted**
**funds**
**£**
1,325
-
1,325
2,650|**Total**
**funds**
**£**
3,785
13,443|
|---|---|---|---|
||||17,228|
||||37,963|
Page 14
## **Age Concern Crediton**
## **Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)**
## **3 Income from charitable activities**
|Outings, activities etc.
Lady Mills Centre
Home Support
**Total for 2024**
**Total for 2023**
**4**
**Income from other trading activities**
Local fundraising and street collection income
Lotteries and competitions income
Property rental income
**Total for 2024**
**Total for 2023**
**5**
**Investment income**
Interest receivable and similar income;
Interest receivable on bank deposits
**Total for 2024**
**Total for 2023**
**6**
**Other income**
Gains on sale of tangible fixed assets for charity's own us
**Total for 2024**|**Unrestricted**
**funds**
**General**
**£**
2,678
53,373
79,509
135,560
110,665
e|**Restricted**
**funds**
**£**
-
4,500
-
4,500
5,603
**Unrestricted**
**funds**
**General**
**£**
2,394
1,250
300
3,944
4,146
**Unrestricted**
**funds**
**General**
**£**
3,468
3,468
541
**Unrestricted**
**funds**
**General**
**£**
11,269
11,269|**Total**
**funds**
**£**
2,678
57,873
79,509|
|---|---|---|---|
||||140,060|
||||116,268|
||||**Total**
**funds**
**£**
2,394
1,250
300|
||||3,944|
||||4,146|
||||**Total**
**funds**
**£**
3,468|
||||3,468|
||||541|
||||**Total**
**funds**
**£**
11,269|
||||11,269|
Page 15
## **Age Concern Crediton**
## **Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)**
## **7 Expenditure on raising funds**
## **a) Costs of generating donations and legacies**
|**Note**
Donations
**Total for 2024**
**b) Costs of trading activities**
**Note**
Fundraising trading costs;
Fundraising
Lotteries and competitions
**Total for 2024**
**Total for 2023**|**Unrestricted**
**funds**
**General**
**£**
695
695
**Unrestricted**
**funds**
**General**
**£**
512
50
562
4,733|**Total**
**funds**
**£**
695|
|---|---|---|
|||695|
|||**Total**
**funds**
**£**
512
50|
|||562|
|||4,733|
## **8 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 2024**
**Total for 2023**|**Unrestricted**
**funds**
**General**
**£**
1,487
20,161
5,795
3,923
108,706
2,997
42,366
185,435
153,703|**Restricted**
**funds**
**£**
15
271
-
-
174
-
-
460
6,232|**Total**
**funds**
**£**
1,502
20,432
5,795
3,923
108,880
2,997
42,366|
|---|---|---|---|
||||185,895|
||||159,935|
Page 16
## **Age Concern Crediton**
## **Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)**
|**Activity**
**undertaken**
**directly**
**£**
Outings, activities etc.
1,502
Lady Mills Centre
56,157
Home Support
67,672
Governance
8,995
**Total for 2024**
134,326
**Total for 2023**
133,124
**9**
**Analysis of governance and support costs**
**Raising funds expenditure**
**Costs of generating donations and legacies**
**Basis of allocation**
Fundraising costs
**Total for 2024**
**Costs of trading activities**
**Basis of allocation**
Social Lottery licence
Lottery prizes
Rent, rates and waster collection
Light, heat and power
Telehpone and internet
A
**Total for 2024**
**Total for 2023**|**Activity**
**support costs**
**£**
-
13,430
4,767
33,372
51,569
26,811
**Unrestricted**
**funds**
**General**
**£**
695
695
**Unrestricted**
**funds**
**General**
**£**
20
30
68
238
206
562
4,733|**Total**
**expenditure**
**£**
1,502
69,587
72,439
42,367|
|---|---|---|
|||185,895|
|||159,935|
|||**Total**
**funds**
**£**
695|
|||695|
|||**Total**
**2024**
**£**
20
30
68
238
206|
|||562|
|||4,733|
Page 17
## **Age Concern Crediton**
## **Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)**
## **Charitable activities expenditure**
|**Basis of allocation**
Meals, cleaning and cooking
Direct sessional costs
Staff costs
A
Travelling expenses
Drivers and transport
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 2024**
**Total for 2023**|**Unrestricted**
**funds**
**General**
**£**
2,605
2,635
134,028
4,751
4,089
916
2,985
3,945
2,125
1,636
2,235
1,036
795
528
145
3,771
317
8,995
2,880
39
4,979
185,435
153,703|**Restricted**
**funds**
**£**
-
286
174
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
460
6,232|**Total**
**funds**
**£**
2,605
2,921
134,202
4,751
4,089
916
2,985
3,945
2,125
1,636
2,235
1,036
795
528
145
3,771
317
8,995
2,880
39
4,979|
|---|---|---|---|
||||185,895|
||||159,935|
Page 18
## **Age Concern Crediton**
## **Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)**
## **Support costs allocated to raising funds**
|**Support costs allocated to raising funds**|||||||
|---|---|---|---|---|---|---|
|**Basis of allocation**
**Total for 2023**
**Support costs allocated to charitable activities**
**Basis of allocation**
Lady Mills Centre
A
Home Support
A
Governance
A
**Total for 2024**
**Total for 2023**||**Information**
**technology**
**£**
2
**Finance**
**costs**
**£**
8
4
28
40
14|**Staff costs**
**£**
**Administration**
**costs**
**£**
**Premises costs**
**including**
**depreciation**
**£**
**Other support**
**costs**
**£**
123
29
12
16
**Information**
**technology**
**£**
**Staff costs**
**£**
**Administration**
**costs**
**£**
**Premises**
**costs**
**including**
**depreciation**
**£**
**Other**
**support**
**costs**
**£**
447
7,235
693
302
850
223
3,617
347
151
425
1,564
25,322
2,427
1,056
2,974
2,234
36,174
3,467
1,509
4,249
291
30,434
4,542
8,790
3,808|||**Total**
**funds**
**£**
182|
|||||||**Total**
**funds**
**£**
9,535
4,767
33,371|
|||||4,249||47,673|
|||||3,808||47,879|
## **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 2024 (continued)**
## **Governance costs**
|Staff costs
Wages and salaries
Social security costs
Pension costs
Independent examiner fees
Examination of the financial statements
Depreciation, amortisation and other similar costs
Other governance costs
Allocated support costs
**Total for 2024**
**Total for 2023**
**10 Net incoming/outgoing resources**
Net incoming/(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**
**£**
24,482
487
353
1,860
1,056
7,135
6,993
42,366
34,264
**2024**
**£**
-
4,979|**Total**
**funds**
**£**
24,482
487
353
1,860
1,056
7,135
6,993|
|---|---|---|
|||42,366|
|||34,264|
|||**2023**
**£**
865
5,662|
## **11 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 £545 for the year (2023 - £645).
## **12 Staff costs**
The aggregate payroll costs were as follows:
|**Staff costs during the year were:**
Wages and salaries
Social security costs
Pension costs|**2024**
**£**
130,057
2,585
1,560
134,202|**2023**
**£**
107,822
-
1,390|
|---|---|---|
|||109,212|
Page 20
## **Age Concern Crediton**
## **Notes to the Financial Statements for the Year Ended 31 March 2024 (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
**13 Independent examiner's remuneration**
Examination of the financial statements|**2024**
**No**
4
-
1
5
**2024**
**£**
1,860|**2023**
**No**
4
2
1|
|||7|
|||**2023**
**£**
1,422|
Page 21
## **Age Concern Crediton**
## **Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)**
## **14 Taxation**
The charity is a registered charity and is therefore exempt from taxation.
## **15 Tangible fixed assets**
|**15 Tangible fixed assets**|||||||
|---|---|---|---|---|---|---|
|**Cost**
At 1 April 2023
Additions
Disposals
At 31 March 2024
**Depreciation**
At 1 April 2023
Charge for the year
Eliminated on disposals
At 31 March 2024
**Net book value**
At 31 March 2024
At 31 March 2023
**16 Debtors**
Trade debtors
Prepayments
Accrued income
Other debtors
**17 Cash and cash equivalents**
Cash on hand
Cash at bank|**Land and**
**buildings**
**£**
300,000
-
(75,000)
225,000
9,000
750
(2,250)
7,500
217,500
291,000|**Furniture and**
**equipment**
**£**
19,222
2,230
-
21,452
18,938
759
-
19,697
1,755
284||**Motor vehicles**
**£**
21,245
-
-
21,245
3,895
3,470
-
7,365
13,880
17,350
**2024**
**£**
5,297
1,084
5,339
100
11,820
**2024**
**£**
177
119,186
119,363||**Total**
**£**
340,467
2,230
(75,000)
267,697
31,833
4,979
(2,250)
34,562
233,135
308,634
**2023**
**£**
9,095
1,024
-
100|
|||21,452||21,245|||
|||18,938
759
-||3,895
3,470
-|||
|||19,697||7,365|||
|||1,755||13,880|||
|||284||17,350|||
|||||**2024**
**£**
5,297
1,084
5,339
100
11,820
**2024**
**£**
177
119,186
119,363|||
|||||||10,219|
|||||||**2023**
**£**
173
55,250|
|||||||55,423|
Page 22
## **Age Concern Crediton**
## **Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)**
## **18 Creditors: amounts falling due within one year**
|Trade creditors
Other taxation and social security
Other creditors
Accruals|**2024**
**£**
3,126
1,318
155
2,163
6,762|**2023**
**£**
2,081
1,568
568
1,320|
|---|---|---|
|||5,537|
## **19 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 £1,561 (2023 - £1,391).
## **20 Funds**
|**Unrestricted funds**
**_General_**
Lady Mills Centre
Shop
Revaluation reserve
**_Designated_**
Property maintenance fund
**Total unrestricted funds**
**Restricted funds**
Garden Boxes
Outings
Wellbeing
Crockery
Lunch Club
Memory Cafe
Furniture
**Total funds**|**Balance at 1**
**April 2023**
**£**
148,919
-
189,890
338,809
20,862
359,671
75
800
5,667
109
-
1,250
1,167
9,068
368,739|**Incoming**
**resources**
**£**
170,144
-
-
170,144
-
170,144
-
-
-
-
3,525
300
2,000
5,825
175,969|**Resources**
**expended**
**£**
(186,180)
(512)
-
(186,692)
-
(186,692)
-
(15)
(174)
-
-
(271)
-
(460)
(187,152)|**Transfers**
**£**
74,621
512
(73,053)
2,080
-
2,080
-
-
-
-
-
-
(2,080)
(2,080)
-|**Balance at**
**31 March**
**2024**
**£**
207,504
-
116,837|
|---|---|---|---|---|---|
||||||324,341
20,862|
||||||345,203|
||||||75
785
5,493
109
3,525
1,279
1,087|
||||||12,353|
||||||357,556|
Page 23
## **Age Concern Crediton**
## **Notes to the Financial Statements for the Year Ended 31 March 2024 (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
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 2024 (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:
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.
Crockery - Represents grant funding to purchase crockery for use in the Centre.
Lunch Club - Represents grants received to provide free lunches.
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.
## **21 Analysis of net assets between funds**
|Tangible fixed assets
Current assets
Current liabilities
Total net assets
**22 Analysis of net funds**
Cash at bank and in hand
Net debt
Cash at bank and in hand
Net debt|**Unrestricted funds**
**General**
**£**
**Designated**
**£**
233,135
-
97,968
20,862
(6,762)
-
324,341
20,862
**At 1 April**
**2023**
**£**
55,423
55,423
Page 25|**Restricted**
**funds**
**£**
-
12,353
-
12,353
**Financing cash**
**flows**
**£**
63,940
63,940
**At 1 April**
**2022**
**£**
61,983
61,983|**Total funds at**
**31 March**
**2024**
**£**
233,135
131,183
(6,762)|
|---|---|---|---|
||||357,556|
||||**At 31 March**
**2024**
**£**
119,363
119,363
**At 31 March**
**2023**
**£**
61,983
61,983|