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2023-03-31-accounts

THE GREENWICH CARERS CENTRE

DIRECTORS’ REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] MARCH 2023

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 - 22

THE GREENWICH CARERS CENTRE

REPORT OF THE DIRECTORS AND TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2023

Directors and Trustees Dr Tina Challacombe (Chair)
Ms Jasmine Banghard
Mr Mark Foulds
Mr Abhishek Khare
Mr Nicholas Rainey (appointed 14 June 2023)
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

Page 3

THE GREENWICH CARERS CENTRE REPORT OF THE DIRECTORS AND TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2023

The Board submits its annual report and accounts for the year ended 31[st] March 2022. 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

We started the year of 2022/23 with the dreadful news that our CEO had to stop work immediately because of a diagnosis of a severe critical illness. All our staff and volunteers came together magnificently to support him, and our newly-appointed Operations Manager, with the support of the Board, agreed to step up as acting CEO, a role in which he continued until our CEO was back to full fitness in January 2023. We will be forever grateful to him for performing this role in a very efficient and professional manner. He has now left us for pastures new.

During the year several excellent new staff joined the Carers Centre and the whole team is working very well together to provide all the services and support for Greenwich Carers with a fully open building now the Covid-19 pandemic is behind us.

With the help of our fundraising consultants Troika we have been successful in our applications for a number of grants, in particular a substantial one from the National Lottery Community Fund over 3 years for the Greenwich Carers Centre Volunteer Peer Pathway and one from the Masonic Charities Foundation for Dementia Support.

We were very involved in the launch of the Royal Borough of Greenwich Carers Strategy and continue to work very closely with them and with many local community groups.

Our lease expires in 2024 and we are currently negotiating with our landlords, The Royal Greenwich Heritage Trust, for a new lease.

At our AGM we will say farewell to our Treasurer, Simon Tovey, who over the past nearly 10 years has done a magnificent job for the Carers Centre, particularly during some very difficult and challenging times. His calm professionalism and common-sense approach have been very valued by us all and we will miss him greatly.

I would like to thank all the staff and volunteers at the Greenwich Carers Centre as well as the Board for all their energy, hard work, and commitment to our charity. A big thank you also to our carers and cared-for, as well as to the Royal Borough of Greenwich for all their support.

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, which 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.

Page 4

THE GREENWICH CARERS CENTRE

REPORT OF THE DIRECTORS AND TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2023

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:

Key Management Remuneration

The remuneration of the Chief Executive and the managers 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 management team 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 able 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 a time of transition for the charity. Our Chief Executive was absent from post for the first three quarters of the year due to a severe unexpected illness. During this period, the charity was managed by the Head of Services (who stepped up to role of Interim CEO), our Chair of Trustees and our Treasurer. A new senior team was put in place through internal promotion and external recruitment, and staff and volunteer teams continued to provide consistently excellent support.

Like many voluntary sector organisations, the year was also about recovering from two years of Covid-related shutdowns. Much of the business model that had returned the charity to financial health was, due to Covid, so far in the past it was operationally redundant. In addition, changes to the staff team during the Covid years, coupled with the absence of the CEO, meant that operational knowledge relating primarily to income generation had been lost. To a large extent, the charity required a re-boot in terms of income generation and non-statutory service provision.

Across the year, in the run up to the recommissioning of our primary statutory support contract, we slowly built momentum in providing social connectivity, learning and development and peersupported hobby and interest groups.

Significantly, lobbying across the previous four years about the shortcomings of the existing funding structure bore fruit. The local authority proposed a new funding model that moved focus

Page 5

THE GREENWICH CARERS CENTRE

REPORT OF THE DIRECTORS AND TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2023

from funding support provided within the centre, to funding the centre itself. The local authority proposed that the new core funding model be mainstreamed alongside the issue of a new twoyear contract, commencing April 2023. The new contract represented an increase in statutory funding. We created new funding models and designed a major new service that secured an additional £100k of new statutory business – ‘Who Cares in the Workplace’ supports working carers and is based upon a concept devised by the Interim CEO. The service will launch in 2023/24.

Our charity ended the year strongly; we have realised our ambition to address the funding structure, reduced the future competitive tendering risk, increased our staffing to provide new specialisms, secured significant new business and extended how we provide support in the borough – importantly, laying the groundwork for greater balance between centre-based and community-based carers support.

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 deficit for the year was £46,767 (2022 – £41,854), comprising an operating deficit of £15,177 (2022 – £10,039) and a capital deficit of £31,590 (2022 - £31,815).

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 recovery of the centre from COVID-19 and the renewal of support 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 accounts.

Reserves Policy

It is the policy of The Greenwich Carers Centre to hold in a designated 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 £75,000. 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

This next year is all about bedding in new services, extending how we provide support and being more creative in meeting the growing needs of our service users and customers. Much focus will be given to setting up and delivering an entirely new service that supports working carers. Our project design secured £100,000 of new statutory funding which will become live at some point across the year.

We will also realise our intention to extend the work of the charity by providing specialist support in areas such as Dementia, Mental Health and Chronic Conditions. All of our intentions and ambitions are subject to funding, and we will continue to work with our fundraising partners to realise our objectives. In response to a successful grant application to The Masonic Charitable Fund, we will begin the move towards providing specialist support by focussing on dementia

Page 6

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THE GREENWICH CARERS CENTRE

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

FOR THE YEAR ENDED 31 MARCH 2023

Opinion

We have audited the financial statements of The Greenwich Carers Centre (the ‘Charity’) for the year ended 31 March 2023 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.

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.

Page 8

THE GREENWICH CARERS CENTRE

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

FOR THE YEAR ENDED 31 MARCH 2023

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.

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:

Page 9

THE GREENWICH CARERS CENTRE

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

FOR THE YEAR ENDED 31 MARCH 2023

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

7 November 2023

Page 10

THE GREENWICH CARERS CENTRE STATEMENT OF FINANCIAL ACTIVITIES (incorporating an income and expenditure account) FOR THE YEAR ENDED 31 MARCH 2023

Note
Income from:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Total income
Expenditure on:
Charitable activities
Total expenditure
6
Transfers between funds
7
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
Net income / (expenditure) before transfers
Net income / (expenditure) for the year		 Unrestricted
funds
£
5,444
463,647
40,942
510,033
525,210
525,210
(15,177)
-
(15,177)
116,614
101,437		 Restricted
funds
£
-
26,610
-
26,610
58,200
58,200
(31,590)
-
(31,590)
63,181
31,591		 2023
Total
funds
£
5,444
490,257
40,942
536,643
583,410
583,410
(46,767)
-
(46,767)
179,795
133,028		 2022
Total
funds
£
2,480
454,514
17,115
474,109
515,963
515,963
(41,854)
-
(41,854)
221,649
179,795

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. The attached notes form part of these financial statements.

Page 11

BALANCE SHEET AS AT 31 IAARCH 2023 Flx•d assets: Tangble assets 10 65.979 cu￿￿TrI as4ats: 27.101 165.684 192.785 Cash at bAr* •KI 110 144793 U•bllttkn" 99.601 113.816 T(rtal not a•¥•ts 133 Fund• 15 31 63.181 7&1MJO 75.1 Gerva luThJ8 101N37 116.614 na Chall•Mmb• Page 12

THE GREENWICH CARERS CENTRE STATEMENT OF CASH FLOW FOR THE YEAR ENDED 31 MARCH 2023

Note
2023
£
Cash flows from operating activities:
Net cash provided by / (used in) operating activities
16
Cash flows from investing activities:
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
Cash and cash equivalents at the end of the year
17
Change in cash and cash equivalents due to
exchange rate movements		 2023
2022
£
£
(55,448)
-
-
(55,448)
165,684
-
110,236		 2022
£
44,242
-
44,242
121,442
-
165,684

Page 13

THE GREENWICH CARERS CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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 2015) - (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.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.

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 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.

Page 14

THE GREENWICH CARERS CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies (continued)

g) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

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 Trusts artistic programmes and 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 6.

i) Operating leases

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

j) Tangible fixed assets

Items of equipment are capitalised where the purchase price exceeds £1,000. Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

Leasehold improvements equally over the remaining term of the lease Fixtures and fittings 25% reducing balance Computer equipment 50% reducing balance

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.

n) Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

o) Pensions

The Charity operates a Defined Contributions pension scheme.

Page 15

THE GREENWICH CARERS CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

2
Detailed comparatives for the statement of financial activities
2022
£
Income from:
Donations
2,480
Charitable activities
419,146
Other trading activities
17,115
Total income
438,741
Expenditure on:
Charitable activities
448,780
Total expenditure
448,780
Net income / expenditure before transfers
(10,039)
Transfers between funds
-
Net income / expenditure
(10,039)
Reconciliation of funds:
Total funds brought forward
126,653
Total funds carried forward
116,614
3
Income from donations and legacies
£
£
Donations
5,444
-
5,444
-
Restricted
Unrestricted
Unrestricted		 2022
£
-
35,368
-
35,368
67,183
67,183
(31,815)
-
(31,815)
94,996
63,181
2023
Total
£
5,444
5,444
Restricted		 2022
Total
£
2,480
454,514
17,115
474,109
515,963
515,963
(41,854)
-
(41,854)
221,649
179,795
2022
Total
£
2,480
2,480

Page 16

THE GREENWICH CARERS CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

4 Income from charitable activities

Income from charitable activities
Royal Borough of Greenwich
Carers Trust
National Lottery
Triangle Trust
Primary care networks
The Henry Smith Charity
Garfield Weston Foundation
Other grants
Total income from charitable activities
Income from other trading activities
Stables income
Bistro income		 Unrestricted
£
377,900
-
24,647
-
-
41,100
20,000
-
463,647
Unrestricted
£
20,861
20,081
40,942		 £
-
6,610
-
-
20,000
-
-
-
26,610
£
-
-
Restricted
Restricted		 2023
Total
£
377,900
6,610
24,647
-
20,000
41,100
20,000
-
490,257
2023
Total
£
20,861
20,081
40,942		 2022
Total
£
406,900
10,368
-
5,000
20,000
12,867
-
(621)
454,514
2022
Total
£
3,988
13,127
17,115

5 Income from other trading activities

Page 17

THE GREENWICH CARERS CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

6 Analysis of 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 allocation
Total expenditure 2023
Total expenditure 2022		 Charitable
activities
£
333,868
27,688
1,500
15,716
12,132
-
-
-
-
-
-
-
-
390,904
192,506
583,410
515,963		 Support
costs
£
-
-
-
-
-
89,321
2,228
33,469
18,492
14,613
32,552
1,831
-
192,506
(192,506)
-
-		 2023
Total
£
333,868
27,688
1,500
15,716
12,132
89,321
2,228
33,469
18,492
14,613
32,552
1,831
-
583,410
-
583,410
-		 2022
Total
£
270,157
45,499
82
18,561
11,453
82,435
3,046
33,276
9,239
7,135
33,223
1,857
-
515,963
515,963

Of the total expenditure, £525,210 (2022: £448,780) was unrestricted and £58,200 (2022: £67,183) was restricted.

Support costs are allocated based on the projected time spent by the employees on various charitable activities.

Page 18

THE GREENWICH CARERS CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

2023 2022
This is stated after charging / (crediting): £ £
Operating lease rentals:
Property 49,253 49,254
Depreciation 32,552 33,223
Auditor's remuneration:
Audit fees net 3,750 3,750

8 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel

Staff costs were as follows:
Salaries and wages
Social security costs
Employer’s contribution to defined contribution pension schemes		 2023
£
300,561
22,673
10,634		 2022
£
247,197
16,997
5,963
333,868 270,157

No employee received employee benefits (excluding employer pension) exceeding £60,000 during the year (2022: No employee).

The total employee benefits including pension contributions and employer's national insurance of the key management personnel were £158,942 (2022: £128,913).

None of the trustees received any remuneration and reimbursement for any expenses during the year (2022: £nil). No charity trustee received payment for professional or other services supplied to the charity (2022: £nil).

There were 13 full and part-time employees during the year (2022: 12).

9 Taxation

The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

10 Tangible fixed assets
Cost
At the start of the year
Additions in year
At the end of the year
Depreciation
At the start of the year
Charge for the year
At the end of the year
Net book value
At the end of the year
At the start of the year		 £
311,475
-
Leasehold
Improvement		 £
28,470
-

Fixtures
and fittings		 £
37,153
-

Computer
Equipment		 Total
£
377,098
-
311,475 28,470 37,153 377,098
248,294
31,590		 26,723
437		 36,102
525		 311,119
32,552
279,884 27,160 36,627 343,671
31,591 1,310 526 33,427
63,181 1,747 1,051 65,979

All of the above assets are used for charitable purposes.

Page 19

THE GREENWICH CARERS CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

11 Debtors

Prepayments and other debtors
VAT
12 Creditors: amounts falling due within one year
Taxation and social security
Accruals
Deferred income
Deferred income
Balance at the beginning of the year
Amount released to income in the year
Amount deferred in the year
Balance at the end of the year		 2023
£
32,314
2,243		 2022
£
22,876
4,225
34,557 27,101
2023
£
6,760
19,376
19,056		 2022
£
6,275
7,861
64,833
45,192 78,969
2023
£
64,833
(64,833)
19,056		 2022
£
89,160
(89,160)
64,833
19,056 64,833

13 Pension scheme

The Charity operates a Defined Contributions pension scheme.

14 Analysis of net assets between funds

Tangible fixed assets
Net current assets
Net assets at the end of the year
Analysis of net assets between funds 2022
Tangible fixed assets
Net current assets
Net assets at the end of the year		 Unrestricted
£
1,836
24,601		 Designated
£
-
75,000		 Restricted
£
31,591
-		 Total funds
£
33,427
99,601
26,437 75,000 31,591 133,028
Unrestricted
£
2,798
38,816		 Designated
£
-
75,000		 Restricted
£
63,181
-		 Total funds
£
65,979
113,816
41,614 75,000 63,181 179,795

Page 20

THE GREENWICH CARERS CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

15 Movements in funds

Restricted funds:
Stables fund
Grants
Total restricted funds
Unrestricted funds:
Designated funds
General funds
Total unrestricted funds
Total funds
Movements in funds 2022
Restricted funds:
Stables fund
Grants
Total restricted funds
Unrestricted funds:
Designated funds
General funds
Total unrestricted funds
Total funds		 £
63,181
-
At 1 April
2022		 £
-
26,610

Income		 £
(31,590)
(26,610)
Expenditure		 Transfers
£
-
-		 £
31,591
-
At 31 Mar
2023
63,181 26,610 (58,200) - 31,591
75,000
41,614		 -
510,033		 -
(525,210)		 -
-		 75,000
26,437
116,614 510,033 (525,210) - 101,437
179,795 536,643 (583,410) - 133,028
£
94,996
-
At 1 April
2021		 £
-
35,368

Income		 £
(31,815)
(35,368)
Expenditure		 Transfers
£
-
-		 £
63,181
-
At 31 Mar
2022
94,996 31,591 (67,183) - 63,181
65,000
61,653		 -
438,741		 -
(448,780)		 10,000
(10,000)		 75,000
41,614
126,653 438,741 (448,780) - 116,614
221,649 470,332 (515,963) - 179,795

16 Reconciliation of net income / (expenditure) to net cash flow from operating activities

Net income / (expenditure) for the reporting period
(as per the statement of financial activities)
Depreciation
Disposal of fixed assets
(Increase)/ decrease in debtors
Increase/ (decrease) in creditors
Net cash provided by / (used in) operating activities		 2023
£
(46,767)
32,552
(7,456)
(33,777)		 2022
£
(41,854)
33,223
-
(3,445)
56,318
(55,448) 44,242

Page 21

THE GREENWICH CARERS CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

17 Analysis of cash and cash equivalents

Analysis of cash and cash equivalents
Cash at bank and in hand
Total cash and cash equivalents
Total cash and cash equivalents 2022		 £
165,684
At 1 April 2022		 Cash flows
£
(55,448)		 £
-
Other
changes		 £
110,236

At 31 March
2023
165,684 (55,448) - 110,236
121,442 44,242 - 165,684

18 Operating lease commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

Less than 1 year
1 - 5 years		 Property
2023
£
49,253
-		 2022
£
49,253
49,253
49,253 98,506

19 Legal status of the charity

The charity is a company limited by guarantee and has no share capital. Each member is liable to contribute a sum not exceeding £1 in the event of the charity being wound up.

20 Related party transactions

There were no related party transactions during the year (2022: none).

Page 22