LAMBETH ELDERLY ASSOCIATION FROM VIETNAM UNAUDITED FINANCIAL STATEMENTS YEAR ENDED 31ST MARCH 2025 Charlty R¢gi$tration Number: 1030900
LAMBETH ELDERLY ASSOCIATION FROM VIETNAM IIYDEX TO THE FINANCiAL STA TEMENTS YEAR ENDED 31ST MARCH 2025 CONTENTS PAGE LEGAL AND ADMINISTRATIVE tNFORMATION TRUSTEES, REPORT TNDEPENDENT EXAMINERS, REPORT STATEMENT OF FINANCIAL ACT]VITIES STATEMENT OF FINANCIAL POSITION NOTES TO THE ACCOUNTS 8-12
LAMBETH ELDERLY ASSOCIATION FROM VIETNAM LEGAL AND ADMINISTRATIVE INFORMATION YEAR ENDED 31ST MARCH 2025 CHARITY REGISTRATION NUMBER: 1030900 REGISTERED ADDRESS.. 56B Courland Grove London SW8 2PU MANAGEMENT COMMITTEE: Thi Than Do (Chairperson) Dung Uy Ngo (Secretary) Quyen Banh (Treasurer) Tuyet Truong(Member) Dong Anh Ngo(Member) Kien Chu (Member) Lan Hong (M¢mb¢r) Ms Chan Nim (M¢mber) BANKER: National Wesiminster Bank PIC 504 Brixton Road l.ondon SW9 8EW INDEPENDENT EXAMINERS: Leroy Reid & Co. Chartered Certified Accountants and Registered Auditors 299 Northborough Road Norbury London SW16 4TR
LAMBETH ELDERLY ASSOCIATION FROM VIETNAM TRUSTEES, REPORT YEAR ENDED 31ST MARCH 2025 The trustees present their report and accounts for the year ended 3 1st March 2025. The financial statements have been prepared in accordance with the accounting policies set out on page 8 to page 9 and which comply with the charity's tst deed and applicable law. The accounts have been prepared in accordance with the accounting policies set out in note i to the accounts and comply with the "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities perparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l Janaury 2015)" Governing document The organisation is an uninconx)rated registered charity since 1986. The charity was established under its own Constitution and governed by it's Trust Deed. Recruitment and appolntment of Management Committee The members of the management committee are elected to serve for a period of three years after which they must be re-elected at the next Annual General Meeting. Trustees The trustees named on page I have served throughout the year. Appointment of trustees is governed by Trust Deed of the Charity. Thr Board of Trnstees is authorised to appoint new trustees to fill vacancies arising through Tesignation or death of an existing irustee. The I rustees who served during the year were: Thi Than Do (Chairperson) Dung Uy Ngo (Secretary) Quyen Banh (Treasurer) Mrs Tuyet Truong(Member) Dong Anh Ngo(Member) Kien Chu (Member) Lan Hong (Member) Ms Chan Nim (Member) Investment powers The Trust Deed authorises the trustees to make and hold investments using the general fimds of the charity, but no such inv¢stment5 are pr¢senily held. Constitution, objects Rnd polieles The Charity's objects are to provide day ¢ar¢ services for Vietnamese elderly people. The policy of the Lambeth Elderly Association continues to be to seek additional finance to support the actRvRties of the association. There has been no Change in policy since the last annual report. The trustee5 delegate the day to day responsibility of the management of the trust to the administrative manager.
LAMBETH ELDERLY ASSOCIATION FROM VIETNAM TRUSTEES, REPORT YEAR ENDED 31ST MARCH 2025 Organisation strueture The Lambeth Elderly Association from Vietnam has a Management Committee of up to 8 members who meet quarterly and are responsible for the strategic direction and policy of the charity. At present Committee has 8 members from a variety of professional backgrounds relevant to the work of the charity. A scheme of delegation is in place and day to day responsibility for the provision of the services rest with the Project Manager. The Project Manager is responsible for ensuring that the charity delivers the services specified and that the key perforniance indicators are met. Achievements and performance Adviee work Our organisation tackles these inequalities by offering culturally and linguistically appropriate services that enable our clients lo effectively tackle these challenges. In frail health and unable to understand English language inforniation in the media or on the inierne( they were too anxious and confused to venture OUL with many confined to their homes for many months after the start of the pandemic. Clients have also faced difficulties with practical activities such as acquiring food, getting medical attention and communicatlDg with mainstream providers, many of whom are offering scalcd down services. With their trusted community centre (LEAV) a150 having closed its doors (in tenns of not m¢cting clients physically), many were at crisis point. We have delivered advice in Cantonese and Vietnamese on debt, benefits and housing to 90 older Vietnamese and Chinese-vietnamese people over the last year. 'rhese 90 people have made 191 visits to our advice service over the reporting period, with many coming between two and four limes each. Three clients we have to help over 10 times. In addition, we ran two Cantonese-language workshops attcnded by a total of I13people. The first, hcld in September 2024, covered the topic of state pension and pension credit and had 35 participants. The second, held in February 2025, offered guidance to 78 pcople on how best to survive the cost-of-living crisis. Our clients face addilional barriers and challenges in lemis of overcoming poverty, accessing services, gaining infomiation and advice and maintaining their health and wellbeing. Tea Danelngnraditional exercise The exercise sessions have bcen a major success so far with up to 35-42 people joining for each session. They arc extremely fun and has helped our members wilh some problems they've been facing due lo the pandemic, also enable our members to stay fil and healthy. The grat thing about these sessions is that anyone can join and interact with other community members and develop friendship and change their lifesiylc. Table Tennis sessions The table tennis sessions for Vietnamese and Chinese Elderly have been very successful with 15-28 people attended each session twice a week. It's actually one of the most beneficial things our user can do to develop friendship and stay fit and healthy. Th¢ funding has greatly impacted what we do in our organisation by both enabling our organisation to contiDousIy deliver successful activities to our beneficiartes, which has made a positive impact thus far. It has enabled us to focus our resources on securing more filnding, which has gone well with Yapp Charitabl¢ Trust providing funding for our running cost for 3 years. The grant has enabled us to build our reputation among the Vietnames and Vietnamese-chinese population in Lambeth and we were able to provide popular and much needed activities. We have gained 8 new new members from the table tennis and tradition dance beginner classes. Some of our new table tennis service users have become loyal supporters of the organisation and have been promoting us to friends and family.
LAMBETH ELDERLY ASSOCIATION FROM VIETNAM TRUSTEES, REPORT YEAR ENDED 31ST MARCH 2025 Volunteers The trust would not be able to provide such a wide SeIce to our beneficiaries without the continued support ora large number of volunteers who give their scrvicc5 voluntarily. to assist the statT. Finydncial review A great deal of time and thought was spent during th¢ year on organising activities for the Lambcth Vi¢tnames¢ ¢lderly. Thi5 includes outin&s,lunches and other activities held in the association. The management committee has also focused its attention on the diificulties that elderly Viets¢se people ¢xperi¢nce, such as language problems and in the ¢ase of disabled eld¢rly. they also have mobility problems. The policy of the tAmbeth Elderly Association ¢ontinues to be to seek additional finance to support the activities of the association. There has been no change in policy since the last trustees, reporL Risk management 'rhe Truste actively review the major risk which the charity faces on a regular basi5 8nd belleve that maintaining reserves at current Icvels, combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse ¢onditions. The Trustees have also examined other opcrational and business risks fa¢ed by the charity and confimi that they have established systems to miti&ate thc significant risks. Reserve polley It is Ihe policy of the charity to maintain unrestricted funds at a level which equate to approximately one month unrestricted expenditure. This provides sufficient fijnds to cover management and administration and support costs. Unrestricted fund5 arc maintained for V4t least thi5 level throughout the ycar. ststemeot of tru5teey' responsibllitie8 The trustees are required under the Charities Act 201 I to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year. In preparing financial statements giving a true and fair v5ew, the trustees should follow best practice and: I, s¢l¢ct suitable accounting policies and apply them consistently; 2. make judgement$ and estimates that are reasonable and prudent. . statc whether applicable accounting standards and statements of recommended practice have been followed. subject to any departures disclosed and explained in th¢ finanrial statements. 4. prepare th¢ financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping accounting records which disclose with re&80nable accuracy the financial position of the charity and which enable them to ascertain the financial position of the charity and which enable them to ensure that the financial statements comply with applicable law and regulations. They are also responsible for safeguarding the assets of th¢ ¢harity and hence for tsking reasonable steps for the prevention and detection of fraud and other irregularities taking reattable steps for the prevention and d¢tection of fraud and other iegular1ties. Approval This report was approved by the trustee 1oJ£_ and signed on its behalf. Thi Than Do (Chairperson) Trustee
REPORT OF THE INDEPENDENT EXAMINERS TO THE MEMBERS OF LAMBETH ELDERLY ASSOCIATION FROM VIETNAM We have examined the financial statement of Lambeth Elderly Association From Vietnam for the year ended 31 March 2025 which comprise the Statement of Financial Activities, ihe Statement of Financial Position. the Statement of Cash Flows and the lated notes. The fmancial reporting framework that has been applied in their applicabl¢ law and United Kingdom Accounting Stsndards (United Kingdom Generally Accepted Accounting Practice). including Financial Reporting Standard 102. Respective responsibilities of the trystees and examiner As the charity's trustees, you are responsible for the preparation of the accounts. you consider that the audit requirements of Section 144(2) of the Charities Act 2011 (thc Act) does not apply, and that an independent examination is needed. It is our responsibility to examine the accounts under scction 145 ofthe Act and to state. on the basis of procedures specified in the General Directions Charity Commissioners under Section 145(5Xb) of the Act, whether particular matters have come to our attention. Basis of independent examiner'y report Our examination was carTied out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of Ihc accounts presented with those records. It also include5 consideration of any unusual items or disclosures in the accounts. and seeking explanations from you as trustees concerning any such matters. I'he procedures undertaken do not provide all the evidence that would be required in an audit and consequcntly we do not express an audit opinion on the view given by the accounts. Independent examiner's statement In connection with our examination, no matter has come to our attention: l. which gives us reasonable cause to believe that in any material respecl the requirements: (a) to keep accounting records in accordance with Section 130 of the Act; and (b) to prepare accounts which accord with the accounting records and to comply with ihe accounting requirements of the Act, have not been met. or 2. to which, in our opinion, attention should be drawn in order lo enable a proper understanding ofthe accounts to be reached. Ltr/4 Id LEROY REID & CO CHARTERED CERTIFIED ACCOUNTANTS AND REGISTERED AUDITORS 299 Northborough Road Norbury London SW16 4TR
LAMBETH ELDERLY ASSOCIATION FROM VIETNAM STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED31ST MARCH 2025 Unrestricted Restricted Fund Fund NOTES 2025 2024 Income and endowments from Ckarilable aclivi¢ies Grant receivable 40,882 40,882 35,152 Aclivitiesfor generalingfynd Service users donation Investsnent Income 10,321 10,321 3,251 Total income and endowments Expendlture on: Charilable a¢livities Total resources expended Net ineomel{expendllure) for the yearl Net movement in funds 10,321 8,630 18,951 5,043 Fund balances at l April 2024 Fund balances at 31 March 2025 Thc stalcment of financial activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities. The accompanying not¢s forni an integral part of the accounts.
LAMBETH ELDERLY ASSOCIATION FROM VIETNAM STATEMENT OF FINANCIAL POSITION AS AT 31ST MARCH 2025 NOTES Current Assets Cash at bank and ill hand 31.910 12.909 Current Ilabilltki Other payable 75 Net eurrent 8J8ets TolAI assets less current Ilabllltieg Income fund*: Unrestricted FuThd Re$tri¢t¢d Fund 13,572 3,251 The financial statements were approved by the board of directors and authorised for issue on . and are signed on its behalf by: .41olC Thl Than Do (Chairperson) The accompanying notes fonn an integral part of the accounts.
LAMBETH ELDERLY ASSOCIATION FROM VIETNAM NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST MARCH 2025 l. Accounting policies 1.] Accounting convention The fjnancial statements have been prepared in accordaDce with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)(effective l January 2015)-(Charities SORP(FRSI 02)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102). Lamb¢th Elderly Association From Vietnam meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. 1.2 Colng eoncern At the tilne of approving the accounts, the Trustees have a reasonable expectation that the charity has adquate resourc¢s to continue in operational existence for ihc for¢seeable future. Thus the Trustecs, continue to adopt ihe going concern basis of accounting in pr¢paring the accounts. 1.3 Charltable funds Unrestricted ndS arc available for use at the discretion of the Trustees in fijtherance of their charitable objectives unless the funds have been designated for other purposes. 1.4 Ineoming resources All incoming resourc¢s are included in the statement of financial activities when the charity is entitled the income and the amount can be quantified with reasonable accuracy. The following specific policics are applied to particular categorics of incomc: Volup71ary income and dunatio% are included in incoming resources when they are receivable, except when the donors spccify that th¢y must be used in future accounting periods or donors conditions have not been fulfilled, then the income 18 deferred. The income for fundraisin8 ventures is shown gross, with the associated costs included in ndraising costs. Granls. where entitlement 15 not condilional on the delivery of a specific perforn]ance by the harity, are recognis¢d when thc charity becomes unconditionally entitled to the grant. 1.5 Resources expended Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot b¢ TlY recovered, and is r¢ported as part of the expenditure to which it relates.. Charitable arpendIre 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. All costs are allocated between the expenditur¢ categories of the SOFA on a basis designed to reflrft the use of the resource.
LAMBETH ELDERLY ASSOCIATION FROM VIETNAM NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 ST MARCH 2025 1.6 Tangible fixed assets and depreciAtion Tangible fixed assets are stated at cost less depreciation. Deprecialion is provided on all tangible fjxed assets at rates calculated to lte off the cost on a straight line basis over their expected useful economic lives as follows.. Equipment - IOO/o 1.7 Cash and cash equivalents Cash and cash equivalent include cash in hand, deposit held at call with banks, other 5hort-tenn liquid investment with original maturities of three months or less, and bank ov¢rdraft. Bank overdrafts are shown within bomwing in current liabilities. 2 Critical aceounting estimates and judgements In the application of the charity's accounting policies. the trustees are required to make judgem¢nts. estimates and assumptions about the carrying amount of assets and liabilities that are not Teadily apparent from other SQUT¢es. The ¢stimates and associated assumptions are based on historical experience and oiher factors that are considered lo be relevant. Actual results may differ from thcse estimates. The estimates and underlying assumptions are reviewed on an on going basis. Revisions to accounting estimatcs are recognised in the period in which the estimate is revised where tho rev15ion affects only that period, or in the period of the revision and future periods where Èhc revision affects both current and flrture period. Unrejtrlcted Restricted Fund Fund 3. Fund-ralslng ventures 2025 2024 Membership fees Donations Other income 2,299 2,299 7,422 600 2,451 600 800 Service user donation Unrestrleted Restrleted Fund Fund 4. Investment Ineome 2025 2024 Bank Interest Receivcd Unre5trieted Restricted Fund Fun S. Grants received 2025 2024 Trust for London Big Lottery Fund Award for All Cicely Northcote Trust Lambeth Wellbeing Fund The YAPP Charitable Trust 14,500 14.500 14,500 7,800 19,960 3,422 19,960 3,422 9,852
io LAMBETH ELDERLY ASSOCIATION FROM VIETNAM NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST MARCH 2025 6. Staff eosls No remuneration was paid to tsvstees in the year, nor were any trustees, expenses reimbursed. staff costs were: 2025 2024 Salaries and wages The average weekly number of staff employed by the charity during the year was &8 follows.. 2025 2024 Direct Charitable Activities Unrestricted Restricted Fund Fund 7. Direet eharitable expendlture 2025 024 Salaries and wages Volunteer cxpenses Tutor Fees Food and refreshments Festivals Premises Cost Printin& slationery & telephone Professional fees Sundry expenses Equipment and materials Annual general meeting Independent examiner fees Payroll fees 14,117 2,220 5,340 800 508 5,671 1,234 14,117 2,220 5,340 800 508 5,671 1,234 14,621 2,144 3.700 1,657 273 8,374 851 400 774 350 402 750 86 774 350 402 750 463 700 177
LAMBETH ELDERLY ASSOCIATION FROM VIETNAM NOTES TO THE FINANCIAL STATEMEI44TS YEAR ENDED 31ST MARCH 2025 & Current liabilities 2025 2024 Accruals 750 700 9. STATEMENT OF FUNDS AtIA 2024 Income Ex nditure At31 March 2025 Unrestrictcd Fund 3251 10,321 13,572 R¢stricted Fund Total Fund8