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2021-03-31-accounts

THE GREENWICH CARERS CENTRE

DIRECTORS’ REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] MARCH 2021

Registered Company Number: 02823279 Registered Charity Number: 1033718

THE GREENWICH CARERS CENTRE

CONTENTS

Page
Company information 3
Report of the trustees 4 - 7
Independent auditor’s report 8 - 10
Statement of financial activities 11
Balance sheet 12
Statement of cash flows 13
Notes to the financial statements 14 - 20

THE GREENWICH CARERS CENTRE

REPORT OF THE DIRECTORS AND TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2021

Directors and Trustees Dr Tina Challacombe (Chair)
Ms Jasmine Banghard
Mr Abhishek Khare
Ms Folashade Saint James
Mr Simon Tovey
Mr Noel A Q Williams
Secretary Mr Simon Tovey
Chief Executive Mr Stuart Tattersall
Company Registered Number 02823279
Registered Charity Number 1033718
Registered Office The Stables
76 Hornfair Road
Charlton
London
SE7 7BD
Bankers National Westminster Bank plc
Auditors Goldwins Limited
75 Maygrove Road
London
NW6 2EG

3

THE GREENWICH CARERS CENTRE

REPORT OF THE DIRECTORS AND TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2021

The Board submits its annual report and accounts for the year ended 31[st] March 2021. The Board has adopted the provisions of the Statement of Recommended Practice: Accounting and Reporting by Charities effective 1 January 2019 (Charities SORP FRS 102) in preparing the annual report and accounts for the charity.

CHAIR’S REPORT

2020/21 has proven to be a challenging year for the voluntary sector. Covid-19 and the shutdown of our communities has bought many financial challenges. Greenwich Carers Centre continues to rise to the many challenges faced by the voluntary sector. In addition to continuing to support carers, the charity has supported its staff and volunteers too. New services have been developed to support carers through the pandemic and new funding to support new services have contributed to the charity’s transition back to financial health. The past few years have been challenging as the charity worked to continue through the years of austerity level funding whilst simultaneously reducing its operational deficit. The thoughtful and careful management of the centre has yielded significant results with the charity returning to operational surplus at the close of 2020/21. The future is positive and full of opportunity as we move out of community lockdown and fully engage with the communities we support once again. A new two-year statutory contract is in place and the Board have continued to play an important role within Greenwich Carers Centre and have actively supported the successful application towards securing quality accreditation from Trusted Charity.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The company was incorporated on 1[st] June 1993, and is governed by its memorandum and articles of association. The charity is a company limited by guarantee, and has no share capital. The liability of each member in the event of winding-up is limited to £1. The charity is run by the Board of Trustees whose members are elected by the charity’s membership at the annual general meeting. The Board meets regularly throughout the year and is able to call extraordinary meetings when relevant.

Recruitment

The directors of the company are also charity trustees for the purposes of charity law. The Board has the power to appoint additional Trustees, as it considers fit.

Trustee Induction and Training

Most Trustees are already familiar with the practical work of the charity when they are appointed. There is also an induction package for the Trustees and training is provided as required.

Risk Management

The Trustees have identified major risks which might affect the charity; they review these risks on a regular basis to ensure that appropriate mitigation is taking place. The principal risks, and a summary of the procedures adopted to deal with them, are as follows:

4

THE GREENWICH CARERS CENTRE

REPORT OF THE DIRECTORS AND TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2021

Key Management Remuneration

The remuneration of the Chief Executive and the Deputy Chief Executive are set by the Trustees, and take into account:-

Organisational Structure

The Trustees approve the overall strategy of the organisation and delegate the operational management, development and administration to the Chief Executive. The CEO is responsible for the day to day running of the organisation, in line with the agreed strategy, and makes recommendations to the Board of Trustees. The Deputy Chief Executive supports the CEO in running the organisation, and is specifically responsible for ensuring that the organisation delivers a high quality of service for carers.

OBJECTIVES AND ACTIVITIES

The Company is established for the relief of older and less abled people by providing a range of support, inclusion and development services to them and primarily to those responsible for their care.

Main activities undertaken for the public benefit

The Trustees have considered the Charity Commission’s general guidance on public benefit when reviewing the aims, objectives and planned activities of the charity.

ACHIEVEMENTS AND PERFORMANCE

The past year has been one of significant change for the charity. A three-year programme of cost management and income generation, that year on year reduced a sizeable deficit, culminated in the charity falling short of its break even target at the close of 2019-20. The charity faced imminent and permanent closure at the end of June 2021. All means of generating trading income had been neutralised by the pandemic and it was impossible for the charity to generate income through service activity. In April 2021, the CEO embarked upon an immediate campaign to generate grant income through the development of Covid-response services. In addition to negotiating a Business Grant of £25,000 for the support of the charity’s hospitality services, a further twelve out of thirteen grant applications were successful. This was a significant achievement given the high level of competition from providers and charities faced with similar loss of income, due to Covid-19. The charity placed four team members on the Government Furlough Scheme prior to undertaking a restructure of the senior team to reduce costs. In addition, a new two-year carer support contract was successfully negotiated with the local authority to include a 12% uplift of the previous contract value. The rescue strategy was successful. It eradicated the deficit entirely and restored the charity to financial health. At the close of 2020/21 the charity posted its first operational surplus for six years.

In terms of service delivery throughout the pandemic year, the charity successfully developed a comprehensive programme of online services for carers, upscaled a small telephone mentoring service to significantly increase the number of carers it supported and transformed its professional, emotional and practical support services into a telephone focused support system. Staff were trained and equipped to work from home. The charity has extended its approach to commissioning back-of house services from dedicated and specialist providers with Human Resources and Health &Safety functions being provided by Citation – a leader in these services. The charity also secured the Trusted Charity accreditation for quality.

5

THE GREENWICH CARERS CENTRE

REPORT OF THE DIRECTORS AND TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2021

FINANCIAL REVIEW

General

The grants to finance the Charity’s activities are agreed in advance for the 12 months to 31 March each year. The surplus for the year was £78,672 (2020 – deficit £67,237), comprising an operating surplus of £113,142 (2020 – deficit £33,196) and a capital deficit of £34,470 (2020 - £34,041).

Core funding

The Charity receives its core funding from the Royal Borough of Greenwich.

Significant events

The most significant events in the financial year have been the shutdown of the centre because of COVID-19 and the marvellous support received from Royal Borough of Greenwich and other grantproviders.

Investment policy

Under the memorandum and articles of association, the Charity has the power to make any investment which it sees fit. The Trustees have considered that the most appropriate investments would be bank deposit and higher saver accounts.

Reserves Policy

It is the policy of The Greenwich Carers Centre to hold in a designate reserve a sum that would enable the charity to meet its liabilities if it had to close down. The Trustees have considered that the most appropriate level of the designated reserve should be £65,000. This amount is reviewed by the Trustees on an annual basis. The risk covered by this reserve has been identified as loss, or material reduction, of core funding from the Royal Borough of Greenwich

The Trustees review the financial status of the charity and identify any risk to that status on a quarterly basis.

FUTURE PLANS

The plans for 2021/22 focus on consolidation, partnership and a return to an actively pursued ethos of support and social connectivity for carers. To a certain extent, much of the charity’s work will be redesigned and relaunched as we move out of a one and a half year shut down of the Centre. We will work to move many of the online services provided under lockdown to Centre-based services. The charity will relaunch its carer involvement programme and launch a new ongoing consultation process via digital surveys. It will undertake a full evaluation of services provided under lockdown and publish the results within our 2020/21 Performance Review which will be distributed to over 2,000 carers, voluntary sector networks and the local authority. The charity will also return to its mission of becoming a leading voluntary sector provider within its the geographic area. This will be achieved by working in partnership with the local voluntary sector and providing key, high-profile milestone events, such as the Forever Young Festival. Forever Young 2021 has been funded by the local authority festivals department – a big step forward in the charity’s mission to establish the event as a permanent fixture in the borough for vulnerable users of community services. The charity will also work in partnership with an online service provider to extend its reach to seldom-heard groups of carers; these include those who work, younger carers and those who do not currently access support. It will also continue to provide exceptional and far-reaching support to carers - this will include a restructure of how support is provided by the Centre.

6

DrTh*

THE GREENWICH CARERS CENTRE

INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES OF THE GREENWICH CARERS CENTRE

FOR THE YEAR ENDED 31 MARCH 2021

Opinion

We have audited the financial statements of The Greenwich Carers Centre (the ‘Charity’) for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Balance Sheet, statement of cash flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRCʼs Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information.

8

THE GREENWICH CARERS CENTRE

INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES OF THE GREENWICH CARERS CENTRE

FOR THE YEAR ENDED 31 MARCH 2021

If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of the trustees

As explained more fully in the trustees’ responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the Charityʼs ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditorʼs report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations.

9

THE GREENWICH CARERS CENTRE

INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES OF THE GREENWICH CARERS CENTRE

FOR THE YEAR ENDED 31 MARCH 2021

We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: [www.frc.org.uk/auditorsresponsibilities]. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the Charity’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Charity’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Anthony Epton (Senior Statutory Auditor) for and on behalf of Goldwins Limited Statutory Auditor Chartered Accountants 75 Maygrove Road West Hampstead London NW6 2EG

19 October 2021

10

THE GREENWICH CARERS CENTRE

STATEMENT OF FINANCIAL ACTIVITIES (Incorporating an income and expenditure account)

FOR THE YEAR ENDED 31 MARCH 2021

Notes
INCOME FROM
Charitable activities
3
Other trading activities
4
TOTAL INCOME
EXPENDITURE
Charitable activities
TOTAL EXPENDITURE
5
NET MOVEMENT IN
FUNDS
RECONCILIATION OF
FUNDS
Total funds brought forward
TOTAL FUNDS
CARRIED FORWARD
12		 Unrestricted
Funds
Restricted
Funds
Total
Funds
Total
Funds
2021
2021
2021
2020
£
£
£
£
421,580
146,304
567,884
418,885
1,635
-
1,635
70,174
423,215
146,304
569,519
489,059
310,073
180,774
490,847
556,296
310,073
180,774
490,847
556,296
113,142
(34,470)
78,672
(67,237)
13,511
129,466
142,977
210,214
126,653
94,996
221,649
142,977

The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities.

11

S AT31 IdARCY2•21 2020 131.774 4J35 141911 147846 221 13Jll 61￿S• 13511 129.466 221 C•

THE GREENWICH CARERS CENTRE

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2021

Notes
Cash flows from operating
activities:
Net cash provided by / (used in)
operating activities
13
Cash flows from investing
activities:
Interest/ rent/ dividends from
investments
Sale/ (purchase) of fixed assets
Cash provided by / (used in)
investing activities
Change in cash and cash
equivalents in the year
Cash and cash equivalents at the
beginning of the year
Change in cash and cash equivalents
due to exchange rate movements
Cash and cash equivalents at the
end of the year		 2021
£
-
(2,363)		 2021
£
(19,106)


(2,363)
(21,469)
142,911
-
121,442		 2020
£
-
(1,246)		 2020
£
72,564

(1,246)
71,318
71,593
-
142,911

13

THE GREENWICH CARERS CENTRE

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

a) Basis of preparation

The financial statements have been prepared in accordance 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 1 January 2019) - (Charities SORP FRS 102) and the Companies Act 2006.

The charitable company 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 or note.

b) Going concern

The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

c) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Income received in advance for the provision of specified service is deferred until the criteria for income recognition are met.

d) Donations of gifts, services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution.

On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

e) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

f) Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.

14

THE GREENWICH CARERS CENTRE

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

g) Expenditure and irrecoverable VAT

h) Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charity’s activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in Note 5.

i) Operating leases

Rental charges are charged on a straight line basis over the term of the lease.

j) Tangible fixed assets

Fixed assets are all used for the Charity’s purposes and are included at cost and are depreciated at the following rates:

Leasehold improvements - equally over the remaining term of the lease Motor vehicles - 25% reducing balance Furniture and equipment - 25% reducing balance Computer equipment - 50% reducing balance

Only purchases costing more than £1,000 are capitalised.

k) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

l) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

m) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

15

THE GREENWICH CARERS CENTRE

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

2 DETAILED COMPARATIVES FOR STATEMENT OF FINANCIAL ACTIVITIES

INCOME FROM
Charitable activities
Other trading activities
Investment income
TOTAL INCOME
EXPENDITURE
Charitable activities
TOTAL EXPENDITURE
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
Restricted
Total
Funds
Funds
Funds
2020
2020
2020
£
£
£
418,885
-
418,885
70,174
-
70,174
-
-
-
489,059
-
489,059
522,255
34,041
556,296
522,255
34,041
556,296
(33,196)
(34,041)
(67,237)
46,707
163,507
210,214
13,511
129,466
142,977

3 INCOME FROM CHARITABLE ACTIVITIES

Unrestricted
Restricted
Total
2021		 Total
2020
£
£
£		 £
Royal Borough of Greenwich 388,930
-
388,930		 365,722
Carers Trust 3,500
56,044
59,544		 10,491
National Lottery -
43,722
43,722		 4,837
Triangle Trust 17,500
19,066
36,566		 17,575

Other grants and donations		 11,650
27,472
39,122		 20,260
421,580
146,304
567,884		 418,885

16

THE GREENWICH CARERS CENTRE

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

Unrestricted
Restricted
Total
2021
Total
2020
£
£
£
£
Stables income (237)
-
(237)
40,756
Bistro income 1,872
-
1,872
29,418
1,635
-
1,635
70,174

5 TOTAL EXPENDITURE

Basis of
allocation
Staff Costs
Direct
Other charitable activities
Direct
Travel
Direct
Sundry expenses
Direct
Bistro expenses
Direct
Premises
Usage
Staff training & recruitment
Usage
General office
Usage
Legal & professional
Usage
Audit & accountancy
Usage
Depreciation
Usage
Bank charges
Usage
Loss on disposal of fixed assets
Direct
Support costs reallocation		 Charitable
activities
Support
costs
Total
2021
Total
2020
£
£
£
£
272,517
-
272,517
331,514
44,917
-
44,917
24,123
283
-
283
897
11,087
-
11,087
5,391
3,140
-
3,140
18,761
-
66,028
66,028
71,630
-
2,622
2,622
474
-
30,717
30,717
43,010
-
18,166
18,166
19,812
-
5,080
5,080
5,747
-
34,470
34,470
34,041
-
1,355
1,355
896
-
465
465
-
331,944
158,903
490,847
556,296
158,903
(158,903)
-
-
490,847
-
490,847
556,296

Of the total expenditure, £310,073 was unrestricted expenditure (2020: £522,255) and £180,774 was restricted expenditure (2020: £34,041).

Support and governance costs refer to the costs involved in operational activities which support the delivery of the charitable aims. They are allocated on the basis of full time equivalent staff working on each activity .

6 SURPLUS/(DEFICIT) FOR THE YEAR 2021 2020
£ £
The deficit of expenditure over income is stated after charging:
Depreciation of tangible assets 34,470 34,041
Loss on disposal of fixed assets 465 -
Operating lease rentals - Land & buildings 49,253 49,254
Auditors’ remuneration 4,000 4,000

17

THE GREENWICH CARERS CENTRE

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

7 STAFF COSTS

Staff costs, including director’s remuneration, were as follows:

Wages and salaries
Social security costs
Pension costs		 2021
£
247,442
18,314
6,761
£272,517		 2020
£
300,047
23,538
7,929
£331,514

There were 10 full and part-time employees during the year (2020: 12).

No employee received emoluments of more than £60,000 during the year.

The total employee benefits including pension contributions of the key management personnel were £115,290 (2020: £119,856).

8 TANGIBLE FIXED ASSETS

8 TANGIBLE FIXED ASSETS ASSETS ASSETS
Leasehold
Improvement
Motor
Vehicles
Computer
Equipment
Fixtures,
Fittings &
Equipment
Total
£
£
£
£
£
Cost
At 1 April 2020
311,475
6,200
34,790
28,470
380,935
Additions
-
2,363
-
2,363
Disposals

(6,200)
-
-
(6,200)
At 31 March 2021
311,475
-
37,153
28,470
377,098
Depreciation
At 1 April 2020
185,114
5,735
32,948
25,364
249,161
Charge for the Year
31,590
-
2,103
777
34,470
Disposals
-
(5,735)
-
-
(5,735)
At 31 March 2021
216,704
-
35,051
26,141
277,896
Net Book Values
At 31 March 2021
94,771
-
2,102
2,329
99,202
At 31 March 2020
126,361
465
1,842
3,106
131,774
9 DEBTORS
2021
2020
£
£
Prepayments and other debtors
13,000
3,641
VAT
10,656
894

23,656
4,535		 Leasehold
Improvement
Motor
Vehicles
Computer
Equipment
Fixtures,
Fittings &
Equipment
Total
£
£
£
£
£
311,475
6,200
34,790
28,470
380,935
-
2,363
-
2,363

(6,200)
-
-
(6,200)
311,475
-		 37,153
28,470
377,098
185,114
5,735
31,590
-
-
(5,735)		 32,948
25,364
249,161
2,103
777
34,470
-
-
(5,735)
216,704
-		 35,051
26,141
277,896
94,771
-		 2,102
2,329
**99,202 **
126,361
465		 1,842
3,106
131,774
2021
2020
£
£
13,000
3,641
10,656
894
23,656
4,535

18

THE GREENWICH CARERS CENTRE

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

10 CREDITORS: amounts falling due within one year

Other taxes and social security
Accruals and deferred income		 2021
£
4,456
18,195
22,651		 2020
£
6,953
129,290
136,243

11 DESIGNATED FUND

The sum of £65,000 (2020 - £13,511) represents a provision to cover costs in the event of winding up.

12 FUNDS ANALYSIS

12 FUNDS ANALYSIS
Balance at
01/04/2020		 Income Expenditure
Transfers
Balance at
31/03/2021
£ £ £
£
£
Unrestricted Funds
Designated funds 13,511 - -
51,489
65,000
General funds - 423,215 (310,073)
(51,489)
61,653
13,511 423,215 (310,073)
-
126,653
Restricted Funds
Stables fund 129,466 (34,470)
-
94,996
Grants - 146,304 146,304
129,466 146,304 (180,774)
-
94,996
TOTAL FUNDS 142,977 569,519 (490,847)
-
221,649

FUNDS ANALYSIS 2020

Balance at
01/04/2019		 Income
Expenditure
Transfers
Balance at
31/03/2020
£ £
£
£
£
Unrestricted Funds
Designated funds 45,000 -
-
(31,489)
13,511
General funds 1,707 489,059
(522,255)
31,489
-
46,707 489,059
(522,255)
-
13,511
Restricted Funds
Stables fund 163,507 -
(34,041)
-
129,466
163,507 -
(34,041)
-
163,507
TOTAL FUNDS 210,214 489,059
(556,296)
-
142,977

19

THE GREENWICH CARERS CENTRE

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

13 RECONCILIATION OF NET INCOME / (EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income/(expenditure) for the reporting period
Depreciation
Disposal of fixed assets
(Increase)/ decrease in debtors
Increase/ (decrease) in creditors
Net cash provided by / (used in) operating activities		 2021
2020
£
£
78,672
(67,237)
34,470
34,041
465
-
(19,121)
3,730
(113,592)
102,030
(19,106)
72,564

14 ANALYSIS OF CASH AND CASH EQUIVALENTS

Cash at bank and in hand
Total cash and cash equivalents		 At 1 April
2020
Cash flows
Other
changes
At 31 March
2021
£
£
£
£
142,911
(21,469)
-
121,442
142,911
(21,469)
-
121,442

15 COMMITMENTS

As at 31 March 2021, the charity had annual commitments under non-cancellable operating leases as follows: -

Land & Buildings

2021 2020
£ £
Within 1 year 49,253 49,181
Within 2 & 5 Years 98,290 147,543

16 TAXATION

The Greenwich Carers Centre is a registered charity and is thus exempt from taxation of its income and gains to the extent they are applied to its charitable objectives.

17 RELATED PARTY TRANSACTIONS

There are no related party transactions to disclose for 2021 (2020: none).

20