LAMBETH ELDERLY A&SOCIA'I'ION FROM VIETNAM UNAUDITED b'lNANCIALSTATLMEN'rs YEAR ENDED 31ST MARCH 2023 Ch8rSty Regls¢ration NumbLr: 1030900 LAMBETH ELDERLY A￿ocIATIoN FROM VIETNAM INDEX TO THE FINANCIAL STATEMENIS YEAR ENDED 31ST MARCH 2023 CONTENTS PACE LEGAL AND ADMINISTRATIVE INFORMATION TRUSTEES, REPORT INDEPENDENT EXAMtNERS' REPORT STATEMENT OF FINANCIAL ACTIVITIES STATEMENT OF FINANCIAL posI'fioN NOTES TO THE ACCOUNTS 8-12 LAMBETH ELDERLY ASSOCIATION FROM VIETNAM LEGAL AND ADMINISTRATIVE INFORIVdATION YEAR ENDED 31ST MARCH 2023 CHARtTY REGISTRATION NUMBEIL. 1030900 REGISTBRED ADDRESS: 56B Courland Grove London SW8 2PU MANAGEMENT COMMirrEE'. Thi T1￿1 Do (Chairperson) Vinh Dung Ly (Vice Chair) Dung Uy Ngo (S¢￿¢tary) Quyen Banh lTr¢a5urer) Thi Phuong Bui (Memb¢r} Tuyel Truong(Member) Dong Anh Ngo(Memb¢r) Kien Chu {M¢mbcr) Lan Hong (Member) BANKER: Nattonal Westminster Bank PIC 504 Brixton Road London SW9 8EW INDEPENDENT EXAMINERS., Leroy Reid & Co. Chartered Certified Accountsnts 4nd R¢gist¢red Auditors 299 Northborough Road Norbury London SW16 4TR LAMBETH ELDERLY ASSOCIATION FROM VIETNAM TRUSTEE,S' REPORT YEAR ENDED 31ST MARCH 2023 The trustees present their retK)rt and Accounts for the year ended 315t March 2023. Th¥ financial slat¢menls have been prepared in ￿￿Ordance with the accounting policies set out on page 8 w pagc 9 and which comply with the charity's trust deed and applicable law. The accounts have been prepared in accordance with the accounting policies set out in note I to the accnunts and comply with Ihe"A¢counting and Reponing by Charities.. St4lemeni of Recommended Practiie applicable to chgrili¢s pe]paring their accotsnts in accordance with the Financial R¢portin& Standard gpplicable in the IIK and R¢public of Ireland (FRS 102) (etyective l Janaury 2015)" Covfrnlng ducument 'lTre organisation 1$ an unin¢oryxJrated regi4t¢red chariiy since 1986. The charity w&% established under it$ own constitution and gov¢rn¢d by it's Trust Deed. Recrullment And appointmtnl of MaThagem¢nt Commlttee The rn¢mb¢r5 uf the manaLJcment committee ar¢ ¢l¢¢ted ta serve lur a period of Ihre¢ ycars after whi¢h they must be rc-elLCt¢d at the n¥xt Annual General M¢cting. Trustees The truslees named on pa8e I have served throughout the year. Appointment of tTllSl¢e8 is governed by I'rusl Dccd of the Charity. The Hoord ol'Trustec8 15 authorised to Appoint new trustees lo fill vucan¥i¢5 arising through resI￿natIon or deuth of un existing truste¢. 'lThe Trt￿lee￿ who scrved during th¢ year wcre.. Thi'fhan Do (Chairperson) Vinh Dung Ly (ViLe Chair) Dung Uy Ngo (S¢Lrelaryl Quy¢n Banhll'reasurer) rs Thi Phuon8 Bui (Member) Mrs Tuyet Truonblmcmber) Dong Anh Ngu{Member) Kien Chu (M¢mbcr) L4n Hon8 (M¢mber) Inveglment powerj The I'rusi Deed outhori5es the trustees i() make and hold investments using th¢ g¢n¢ral funds of the harity, but no Such investments are presently hcld. Con$litutlon, ubjects and polleles The Charivs objects lo provide day we services for Vi¢tnam¢se elderly pei)ple. The policy of the Lambeth Elderly Association continu¢5 to be ¢0 5¢¢k additional fLw4nce lo sUPPOrt the activiiies of the assoGiatLOll. There has be¥n change in policy since the last at)nual report. 'rhe trustees dEleg4t¢ the day to day responsibility of the management of the trust to the administrative manligcr. LAMBETH FLDERLY ASSOCIATION FROM VIETf4AM TRUSTEES, REPORT YEAR ENDED 31ST MARCH 2023 Organisation structure The Ldmbeih Eld¢rly AssoLiation from Vietnam has a Managemcnt Committee of up 10 8 members who meet quarterly and are responsible for thc strategic direclion and policy of the charity. At present Commiltee has 8 memb¢rs a variety of pr()feSsio￿l ba¥'kgruunds r¢l¢vant tu the work of th¢ ¢h4tyi¢y. A 5ch¢m¢ ot'delegation is in place and day to day r¢sponsibilily for the provision of the services resl with the Project Managor. The Proj¢¢t Managcr 15 responsible for ensuring that th¢ chariry d¢liver8 the services specified ond that thc key perfomanLe indicai(srs arc ine¢. Achievements aAd perform8nce Advice work Our organisation tackles these inequalities by ofF¢ring culturally and linguistically appropriatc scrvices that enabl¢ our cli¢Dts to effectively tackle thLse challen&ies. In frail heqlih and unable to understand F.nglish-language infonnation in the media or Un the int¢m¢bt, Ihey were too 4nxious and confuscd to venture ottt, wilh many confined tu their home5 for many tnoiithy after th¢ start of the pandcmic. Clients have alyo fac¢d di￿l¢U111eY with prA¢(iLal a¢tivili¢s suLh as aLquiringi food, getting mediLul utt¥ntion 4nd communicaling with mainstrcaTll prvvidorb, many of whom offering icalLd dowl 5crvice¥. Wilh th¢ir trusted community centre (LF.AV} also havin￿ ¥105ed it5 door3 (in tcmis ot me¢tin8 clicnts physically). many were al crisis point. We havc deliv¢red ddvicc in Cantonese und Vietn￿M¢se on dcbt, benefits and housing Lo 70 oldor Vieinamese and Chin¢$¢-Vieinamese peuple over ihe last 18 monrh8. In ihe first h?If of thc project we supportLd 60 people with our advice serviLe, meunin¥ we have assisleLI 130 people in iolal. Th¢s¢ 70 p¢uple have made 164 vi51ts io our advi¢e y¢rvice ov¢r th¢ reporting p¢riod, with many coming be￿¢¢n Iwo and four rimes ¢uch. In 8ddition, w¢ ron Iwo cants>n¢￿-]an￿U&gjC workshops attcndcd by a iotul of113 pcoplc. Thc first, held in September 2022, ¢ovcrcd the topic of $tatc p¢nsion% and pensiun ciedit and had 35 participant5.'1'he sccond, held in February 2023, offered guidancc to 78 people on how best lo survive lh¢ LOSI-of-living ci'isis. Our clients faLe additional baniers and ¢hulleng¢s ln t¢mis of uvirGuming wv¢rty, accc5siDg sorvi¢e$. gaining Inforniation and advice and mainidininbj Ih¢ir h¢alth and wellbeing. 'rcalDiincin exLrcis Th¢ exercise se55ions have been a major succ¢ss fo far with up to 35.42 p¢opl¢ jvining us for cach session. They are exlremely fun and h&s h¢lpcd our mcmbcrs With $orne problem8 they've been facin8 due lo the pynd¢mic, a150 ¢nable our members to slay lit and healthy. l-he greai thing about these sessions li Ihdt anyone can join and inieraet with othe community m¢mb¢rs and d¢v¢lop fri¢ndship and change their lifestyle. Tablc Tennis Sessions The table t¢nnis s¢ssion.8 for Vietnamese and Chines¢ F.Iderly have been Ycry successful with 15-22 people #ttended each 5e5sions twi¢¢ a w¢ek. It's actually one of the m05t beneficial thingy our user can do lo devclop fricndship and stay fit and healthy. The funding has greatly impacled what we do in our or&Fanisation by both enabling our organisation to ¢ontinou8ly deliver successful &Ltivities to our beneficiaries, which has madc a positive impact thus far. It has 4150 enabl¢d u8 the opportunity to focus our resource5 on securing more fundin& which has gone well with Yapp Charitiible Trust providiD¥ fundinui for our running cost lor 3 years. LAMBETH ELDERI.Y A￿￿clA.rI0N FROM VIF.TNAM TRUSTEES, RgPOK'I' VEAR F.]YDED 31ST MARCH 2023 Voluntecr5 l-lie tru81 would not be Ablc lo Providc sucli a wid¢ qcrvicc to Dur bencficiarics withoul the continued support of a IArbi¢ number uf volunt¢eTS who give Ilieir 5erviccs vuliintlirily, 10 assist tlie slafT. Financiul fLview A gT¢at dcal of iiiiie and thou&ht was speni duringi the year un OTgranisinLi activities for the Lambelh ViLrnarncsc cldcrly. I'liig includes oulings,Iiinch¢s and DIIIcf AcLivitic.s hLld in thL Jssocioiion. Tliv maiiagement committeL has a150 foLLised lis atiention on ihe difficultlLS thal Llderly Vi¢tnllinese people Lxp¢ri¢ncc, siicli as langiiagc problcm8 and in the ca%c of disabled cld¢Tly. thEy also havL niobility problems. 'I'he pnlicy of Ilie l.anibeth F.Iderly Association colltinu¢% lo bc t(J seek additional linance Io SLlVPOrt th¥ rivilie5 ofthe AE50Clatiun. 'fherc lias been no cliuiige in pnlicy siiice thL la%t trusl¢¢.4' report. RiilL mAnllgcmen 'rhL 'fru%ices aciivLly revicw thc Inajor risk which tlie Lharily faces on a r¢Ltiilai' b￿&15 b¢liev¢ ih4il iainl4iiiinbl iLsc'rvL$ ai Lurrent levL,Is, conibined with an Annual review i)I'the ¢ontri)Is over kcy finaneidl sysIL'in4. will prvvide su17icicnr rLbourccs in ihe cvcnt ul'adver5e ci)nditiuns. 'fiiL TrusLLLS Iiavc alsv exdmined oilicr ilPeTaiiaiial arid hii%inL%s ri8ks faccd by thl Lharily and cThnfiTm ihal th¢y IIBVL u.%tsbli%hed sy%icin5 10 Initigate Ihc signilicalll Ti5ks. Relerve pollcy It 1% Ilie ptsli¢y of thL charity 10 mdintain Linresiri¢ied furtds #l a lovcl wliiLh equatc to iipproximdtely one Inonih unTLSII'iClcd ¥xpendilUT¢. 'lliis pmYide5 4ufliLi¢nl fund4 1(> cover rnanuujcmeiil llnd adniinislrdtion #nd StHlenieiil of tru%lcci' rL'ipull5ihllill 'I'li£' Iru%lLL% iifL fLyuiriil utid¢r Ilie CharillL8 ALI 201110 prcpui'¢ linftTILial sliltcm('.Iit8 lor each finiinLial yLar wliich givi ti'ue und fair vi¥w tsl. Ili¥ charily's financial acliviliGi% dijriiib) IIIC ykaT dnd ()I' ils Iinuticial p().gilion al IIIL, Liid (Il. Ihty y¥ur. Ii) prepai'iiibj linanLial iliiicmcnt5 gtiviiiL> a truc llnd fair vi¢w, IhL4 Iru.%tee% should follow belt praclice aiid.. l. %¢le¢i suitablc t)ccouiilin& poliLies and apply ¢hem consistenilyi 2. 1)iake jiidgi¢inents and estima¢es that dre ruasot￿h]￿ und prudent. %laie i¥liLiliL'i' appli¢abl¢ llLLI)iJrilinbI sfandcirds and ylalL'mc'nts (Ifr¢Lniiim¢ndcd proLlicc havL beeli fi)Ilowcd, subjcLt Iv uny depurturc% disLIo&Ld aiid cxpluin¢d in ihc Iinuncial stalemenls. 4. prcparL ih< finanLi(11 st1( teinenls on a going cun¢ern bJsi5 uiJle5s IL is inappropriat¢ to pre3um¢ that ihe charity will cuniilluc in opcratiDn. TIIL tru&lLes ore responsible foi. kL¢PiVLJ accuiiniiiig records wliiili di5cIostt With reasonablc accuracy thc fin￿111L1[ll i?1)51tion ol-thc clinrity r&dsonabl¢ %lLp5 1()r IhL preveiilivii Jiid dcleclitjn ul. fraLid and oiher irregularities taking rc&sonable st¢ps for thc prevention and delcctiL)n ol. fraud aiid other irrttgiulariLILS. Approv81 This ￿pOrt was approved by the trustees on _1S-11 13 and signcd iL% behalf. Thi ThAn Df) IC.'IitsirpErliiiD} Trustee REPORT OF THE INDEPENDENT EXAMINERS TO THE MEMBERS OF LAMBETH ELDERLY ASSOCIATION FROM VIETNAM W¢ hav¢ ¢xamin¢d tho financial 5tat¢m¢nt of Lambeth Elderly Association FTOM Vi¢tnaTn for th¢ y¢ar ¢nded 31 March 2023 which comprise the Statement of Financial Activities, the Staternent of Financial Position. the Statement of Cash Flows and the relat¢d notes. Th¢ financial reporting framework ¢haL been applied in their applicable law and United KingdoTn Accounting Standards (Unit¢d Kingdom Gen¢rally A¢¢epted Accounting Practice), including Financial Reporting Standard 102. Respectlve re8ponylbllltles of the tru$tee8 #nd ex4miner A$ ihe charity's tNst¢¢5, you re5P0115ible for the prepaTation of the accounts- you consider that th¢ audit r¢quir¢m¢nts of Section 144(2) of th¢ Charilie5 Act 2011 (th¢ Act) docs nol apply, and that an independent examirtation is needed. 1¢ 15 our responsibility to examine th¢ accounts under section 145 of th¢ Act and to state. on the basis of procedures specified in the General Directions Charity Commis5ion£rs undcr Seclton 145(5)Ibl of the Act, whether particular rnE4tters have com¢ to our attention. B4$ts of Ind¢peDdeDt examlnerfs report Our ¢xamin&tion wa5 carried oul in accordance with the General Directions given by the Charity Commissioner5. An examination include5 a review of the accounlin8 rccords kept by the charity and a compari50n of ihe accounts presented with those records. It also includes consideration of any unusual i¢erns or disclosu￿$ in ihe accounts, and seekin¥ explanuiions from you a5 trustees ¢on¢ernirtg any such matters. The procedures undertaken do not provide all the evidencc that would b¢ ￿quir¢d in an audit and consequently we do not express an audit opinion on the view given by th¢ accounts. Independent exlminer'i statement In connection with our ¢xaminati¢)n. no malter has corne to our attention-. which gives us r¢asonable cause to believe th￿ in any materig41 respect the requirements.. (a) lo keep accounting ￿CordS in accordancc with Scction 130 ofthe Act; and (b) to prepare ac¢ount$ which accord with the accounting records and to comply with the a¢¢ounling rcquir¢m¢nls of the ACL have not been met. or 2. to whi¢h, in our opinloll, attention should b¢ drawn in ordcr to cnabl¢ a propcr understanding of th¢ a¢¢ounts to be reached. V4X LEROY REID & CO CHARTERED CERTIFIED ACCOUNTANTS ALYD REGISTERED AUDITOK8 299 Northborough Road Norbury London SW16 4TR LAMBETH ELDERL Y ASSOCIATION FROM VIETNAM STATEMEIYT OF FINANCIAL AcfIvITIES YEAR ENDFD 31ST MARCH 2023 Unrwtricted Restricted Fun Fund NOTES 2023 2022 Ineome endowments from Charitable acifvilies Grant receivabl 27.229 27,229 17,000 Acliviliesfor generalingfvndj Service users donation Inve5tmenl In¢oJn¢ 887 887 Total In¢ome and endowments 000 Expendlture on: Charitable actlvliles Totol resourees expended Net lrteomel(¢xp¢nditurn) for Ihe yeorl Net movemenl In funds 8911 (I,U52) (162) (3,175) Fund balanc¢s at l ApTII 2022 Fund b81once$ #t 31 March 21123 The statemcnt of linanciul aclivities include% 411 gains and loss¢s iii the year. All inLomin8 resources and r¢5ourc¢s expended derive from ¢on¢inuii?&i activili¢s. The accompanyin￿ notes form an integral part ofthe &￿QunL%. LAMBETH ELDERLY ASSOCIATIOiY FROM VIETNAM s'rA'fEMENT OF FINANCIAL POSITION AS AT 31ST MARCII 2023 NO'rTr:.8 2023 2022 Fixtd A$5ets Equipmenl Ciirren¢ Assets Oiher debi()rs Casli at bank and in hand 72 7,796 7,958 Current11gbi1Sties Other payable 630 Net current H%Jets Tolxl ll$$et8 lesx euTreDt liabllilies Incom¢ (unds: Unrcslri¢ted l.und Restricted bund 10 890 'I'hc finaiiLial stJtementy w¢rc approvLd by the bo&rd of directOT8 and authorisL,d for I￿￿11¢ (In 8nd urc signcd i)n lis b¥haifby'. 23 I'hi Thfin Do {ChAlrpEr5un) Th¥ uccompanying nutL's forn] an inle&Fr41 port of tho accourls. LAMBETH ELDERLY ASSOCIA'IION FROM VIETNAM NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST MARCH 2023 l. Accounting polieies 1.1 AccouNlin8 convention The financial statements havtt been prepared in accordance with Accounting and Rcporting by Charities.. Statement of Recoimncnded Practice applicabl¢ to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republi¢ ofirel8Dd IFRS I02)(ell￿tive l January 20151-(Charities SORPIFKS102)), the Financial R¢portin8 Standard applicablc in the UK and Republic of Ireland {FRS102). Lambeth Elderly Association From Vietndm rneels the dcfini¢ion of a public benefit entity und¢r FRS 102. Assets aT]d liabiliti¥s are initially recugnised at histOTical cost or Iransaciiun value unless otherwise stated in the relevont accounting p(&licy noies. 1.2 Golni con¢cr Al the time of approving the accounts. the Trusiee5 have d reasowdble expeciution ihgl ¢he ch4Lrity adquate rcsour¢¢5 tu cunlinuc in op¢rational exiytenL¢ for th¢ foresecablc future. the .1 ruste¢s' Lontinue to udop¢ thc concern basis of accountllJ8 in preparing ¢hc oL'count$. IJ Charli4ble fundy Unrcstricled tiinds ar¢ available for u8¢ al tho dis¢r¢tion of Ihe'fruslees in futheron¢e of thoir charilable ubjeclive8 unless the fund$ have been designal¢d for othor purpos¢s. 1.4 Ineomlng rLyources All incomin&i resour¢e5 are included it) the sl&iem¢nt of finallLial #¢¢ivities when tho Charity 1% entitlcd to the ineume and IhL' amount can bL quantified with reasonable acLuracy. The followin¥ specifLC policie5 g4re appli¥d lo purticular Lllt¢gori¢& ot. incomc., Ynljplldry income andU<)IlQlion.i are included in inc()rning r¢yourLes wlien they ar¢ rcceivdble, except when ¢hc donors specify that thcy must be used in lutur¢ acLounting pvriods or dvnor% onditivns havc not been lullillcd, Ilien the inloine ib dcferred. The incom¢ for fundraising ventures Is shown gross, with the associated wst5 includ¢d in ￿nd￿1$In￿ cosiy. Gronls, where Qfttitlement 15 not conditional on the delivery of 4 specific perfurnillnce by thc charilyi are recognised when the Lhgrity become5 unconditionally ¢rtlitled to th¢ ¥rant. 1.5 Resource¥ cxpended Expenditure is reLogni8ed on an accrual basi5 a5 a liHbility is IllLu￿¢d. Fixpenditure inLludes any VAI- which cannot bo fully recovercd, #nd is rep(Frted ay part of the cxpenditure to which it relolc5'. Churiloble o¥pe4diitsre Lompfi3es those Lost3 incurred by the charity in th¢ d¥liv¢ry of its activitie5 and s¢rvices for its bcneficiaTlCS, 11 includes boih costs that can be allacated directly lo $u¢h 8Ctivities at]d those cost¥ of an indirecl nature neccssary to support them. All costs are allocRt¢d betwcen the ¢xpendilur¢ categ(Fries uf thc SOFA on a basis designcd to r¢fl¢¢i the usc of the resourcc. LAMBETH ELDERLY ASSOCIA TION FROM VIETNAM NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST MARCH 2023 1.6 Tangible fixed assets and depreciatitb Tangible fixcd asS¢ts Are stated at cost less depreciation. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost on a straight line basis over their expe¢led us¢ful economic lives as follows.. Equipmcnl- IOO/• 1.7 Cash and cash equiv8lent$ Cash and cash equivalent include cash in hand, doposit held at call with banks, other short-temi liquid invesimeni with original maturities uf three months or le¥5, and bank overdraft. Bank overdrafts are 5hoMTh within borrowing in Current liabilities. 2 CrltlcAI 7éc¢ountlni e$tlm4tes 4nd ludgement8 In the application of the Lhurilys accountit]g poliLies, the truste￿ are requirod to make judgemenis, esliinai¢s aiid as5uniplions aboul Ilie carrying amollnt of asscLs and liabilities tliat arL not readily (IPP8rttnt froi)i other souncs. I'hc ¢5tinialLs ynd a$S￿lated 4SNUlnPtiLb are based on historical experience and othEr faLtors thai ar¢ wnsider¢d tu be rvlevunt. Actuul results rnay differ from these estimates. The esiim#t¢s and underlying a95umption8 Br¢ r¢viLw¢d on an on going b4sis. R¢visions lo aLcounting ¢siimuies are rLcuu>ftlsed in Ih¢' pvriiid iii whicli ihr ¢stimdiL is rcvised where the revision hll¢cis only thttt period, or in lh¢ poriod ofihe ￿vISion and fuiurc p¢riods wheN the revision affe¢18 both ciirr¢nt and future period. 3. Fthnd-raliln¥ ventur¢s Unr¢$trlcted ReJtrl¢te¢t 202 20 Service user don&tion 4. Inveilment Income Unrejtrlcled R¢itrl¢led Fun 02 22 Bank Inkresl Received 5. Grants received UnrextrlLt¢d Re5trletvd 023 20 Trugt for London BMF. 14ealth Furum IAmbelh Wellb¢ing Fund Th¢ YAPP Charitable Trust 10.500 3.877 9.852 10,500 3,877 9,852 I I,IK)O 6.000 10 LAMBETH ELDERLY ASSOCIATION FROM VIETNAM NOTES TO THE FINANCIAL sfATEMENTS YEAR ENDED 31ST MARCH 2023 Staff costs No remun¢rdiion was paid lo trustoes in the year, nor were 4ny trustees, expenses ￿imburSed. stsff costs were.. 2023 2022 Salaries and Wdges The av¢ra8e weekly number uf sthff employed by the charity during the year was as follows.. 2023 2022 Direci Charitable A¢livities Unr¢$tricted Re$lricled Fu un 7. Direet charlt#ble expendl¢ure Salaries wages Volunteer expenses Tutor f4ees rood and refreshments Festivals Premises Cost Printing, staliunery & l¢l¢phune In5uronce Profe8sional fees Web de5iLJn Equipment and malcrials Annual &>eneral meeting Independ¥nt vxaminer feLs Payroll fec5 Depr¢¢iatlon 14.478 I,oJo 5,160 1,604 213 2,532 ¥64 14,478 1.050 5,160 1.604 213 2,532 864 12,055 1,175 168 480 1,945 892 821 125 590 348 400 630 170 360 581 348 289 630 172 360 581 348 289 630 172 LAMBETH ELDERLY ASSOCIATION FROM VIETNAM NOTES TO THE FINANCIAL STATEMF.NTS YEAR ENDED31ST MARCH 2023 8. Fixed •￿t￿ C05t To Opening & closing balance 616 Aceufftulated Deprttlatlon Opening & closing balance 15 616 Net Book Value at 31st March 2023 as at 31 gt March 2022 9. Currtnt Ilabllliies 2023 20 Accwals 111. STATEMENT OF FUNDS t l A ril 2U22 on At Murch 202 Unr¢stricied Fund 890 890 Ro$trict¢d Fund 328 22 TotAI Funds