THE GREENMCH CARERS CENTRE DIRECTORS. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 Registered Company Number 02823279 Registered Chwlty Number. 1033718
THE GREENWICH CARERS CEpifRE Company infomialK)n Report of the truslees Ind8P8ndent auditorfs report 8-10 Statement of finan(xal aqxivil 11 Balan sheet 12 Statsment of cash flows 13 Notes to the finanLial Stste$ 14-21
REPORT OF THE DIRECTORS AND TRUSTEES FOR THEYEAR ENDED 31 IAARCH 2024 Directors and Trustees Dr fina ChallaLX)mbe (Chair) Ms Jasmine BaNJhafd Mr ma Foulds Mr Abhishek Khare Mr Nicholas Rainey (appointed 14 June 2023) Ms Folashade Saint Jarnes Mr Simon Tovey Mr No81 A Q Williaff Mr Abhishd( Khare Mr Srt TatteTsall Cixnpany Registered Number 02823279 Reglstered Charity Number 1033718 RegIster1 Officej The Stables 76 Homfair Road Charttc Londc SE7 7BD Bankers National Westrninster Bank plc Londc NW6 2EG Page 3
THE GREENMCH CARERS CENTRE REPORT OF THE DIREcfoRS AND TrUSTEES FOR ThE YEAR ENOED 31 IAARCH 2024 The Board submils IL8 annual report and aqxounts for the year aled 31Ét Match 2024. The Rewrting by Charities effective 1 janu 2019 (Charilies SORP FRS 102) in weparing the annual report and a)xunts for the thwity. CHAIR'S REPORT This has been a very gocKI year for Ihe Greenwich Carers Centre, wilh a lot of hard work armj commitment from our dedicated team. Our services have grown. have negolialed new funding and ltracK and ow core team has expanded. We have incTrased our communty outread) and ineased our k)cal pmfile with a [MInation for the Best of Greenwich Business Awafd. Our TteeS have )rked well t0er. n)eeting regularly to give supwxt and advKe to the senior management leam and overtseeing the strategic obieclives. We have welcomed a new trustee who has been instrumental in raising funding for respite care brèaks at Nuuey Edge. He has ba&) an example to us all wilh his )thusIasM and commilrnent to Greench Carers Our now lease wlih Royal Greenwich Heritage Trust has been agreed arKI we are now in tho We now have a finandal adviser who Is supwling the CEO and buildirvJ a new fin system. We look to the fijture year wlth more opportunitss to axlend ¢xr )rk in local communfti6s arKI retth our fundlng Ihe Royal Borough of Greenwkh. As before. l wld Ilke to thank our fundraising consthnts Troa for klentstyiwJ appropTia chafltable trusts and then enabling us to successfuty bid for the fundlng Ihal is rlght ftjr us. A big Ihank you go8s lo the CEO and his team and am the vdunteers at the Greenwlch Carers Centre. as well as to the Board. for all their energy. hard work. and wmmitment to our charity. Thank you also to our carers and (xed for, as well as to the Royal Borough of Greenbmch for all their continuing supp(Mt and advKe. STRUCTURE. GOVERNANCE AND MANAGEldENT company Yffjs incoTFK>rnted on 1•1 June 1993. and bs govemed by 118 memorandum and artides of assorithn. The (arity a Co[nY limited by guarante8. arKI has no share capital. The liabdity of each member in thè event of winding-up is limited to £1. The charty . Tun by the Boa1 of Trustees, whth meets regu trffoughout yew and is able lo call extraordinary meetlngs when relevanL The diredors of the company also chity trustees for the purposes of charity law. The Board has the p(YAw to appoint addiiional TTUStees. as it Ixmsider5 fiL Trustee Induction and Training Most trustees are alreaty familiarwilh the pracli(l of the charity vthen they are appointed. The is also an inductM)n package for the trustees and tralnrwJ is t0V as required. Page 4
FOR THEYEAR ENDED 31 AIARCH 2024 on a regar basis to ensure that appropriate mibgalion is taking place. The principal risks. and a summary of the edureS ted to deal wtth them. a as folow5: - loss of grant income {gd delivery of outu>mes for existing grdnts: good communication Mlh ant providern; monitorivJ of the (2re sector to ldenfy arKI develop new servlces) - rellae on key pe(1 (appraisals of key stalP. mainialning uptdate succession plans: M)d trainlng of potential managers) - inabilty to meet liabililies as IW fall due (Maintenan of h• rese qrtety mnitorlng of income and expenditure and cash11(Yws). The remunera11( of the Chief EXeCve and the managers are set by the trustees, and take - the size and Lx)mplexity of the chaTity - 'Maer salary rdtes, per several market surveys - Ihe perfonnance of ts indivlduals The trustees appThe Ihe overal strategy of the OrganaOn arKI delegate the operational management. devet and administration to the Chief Extive. The CEO Is responsible for the day to day Tunning of the ganiSatk. in line wth the agreed strategy. arHI makes recanmendations to the Bwd of Tfust88s. The ffonagement team support5 the CEO In running the organisation, arnl is speofKalty r88ponsUg for that the orglsa1 delivers a high qualty of servi( for carers. The Company 18 estsbllshed for th8 rellef of older a1 less able people by womdlng a rang8 of support. irnknion and development servlces to them and primarlly to those respcmible for their The trustees have considered the Charlty Commlssmjn's general guidance on publlc erfft when reviewknJ the akns. objectives and p1anr actfvits8 of the charlty. ACHIEVEPAEKfs AND PERFORMANCE The first full year of th8 Ch*f Execxrti's retum to has seen the chatty exlerKI its Ixjmmunty reach. disity ib Servi offer and retum to Operati Surp8. We have continued our policy of 8ecurfng grant funding to provlde new 8erviGes and OppCnIb8S that support ar add wae to the borwJh's stathrtory offer. We have gr[ and dNer5ified funding to tKovide the charity wilh a healthier InccTh that lesseng (xr reliance We have our vdurteer team. we1cor1 a new tfustse. implementgd and delivered an npOrt edu(xlion programma for carws. worked with new community partne[5 to WOVKle rer5 With kX OppOnitIOS and secured 8 naw £100k contracl from the l(Kal auttw)rity. commenceil wk on building a ne financial system. athieved our best ever Fwd Hygiene tating aNI secured the best Ixrtcane possible foU(YmJ an extensi Heallh and Safety AudiL T(NMds end of 2023 Iwr charity VRS shortlisted for a Best of Greenwich Buslness Award for our outstanding contribution to the local commnty. As we ckne the year. our tharity is thriving and in good place - have a dedicated arnl
THE GREENMCH CARERS CENTrE REPORT OF THE DIRECTORS AND TRUSTEES FOR THE YEAR ENDED 31 IAARCH 2024 placed and central to bmryh's voluntary sector. We aL80 (xxrfinue to bnfiUen at bwugh, regional and national level via our work wilh ts Royal BOrh of Grewvm and Carer5 TTUSL FINANCIAL REVIEW The grants to finance the Charws aclSvbtks are agreed in advan(% for the 12 to 31 March eaGh year. The sury)lus for the year was £14,810 {2023- defKat £46.76n. c4)mprising an opernting of £46.401 (2023 - dthit £15.177) al a capilal defi(xt of £31.591 (2023 - £31.590). The Charity receiv88 its core funding frnm the Royal Bor(gh of Greenwith. Thè most signiftsnt events In the financial year have been the signifilxrt increase in support from Royal BcKLwgh of Gremich and other gAntWVKlers. Under the memoraThJum and artsdes of associalion. tha Charlty has the povm to make any invesbnent which it sees fiL The Trusiees have CSIdered Ihat tha rnost appropriate inVestnts would be bank deposii accounts. Reservos Pollcy It Is the pokcy of The Gr88nwlth Carer8 Cthre to h¢ in a designated rnsarve a sum that would enable the charlty to meat lis Ilabilitt88 if It had to dose down. The trustees have con81dered that the most approprfate16vel of the designated reserve should be £11X),(K)O. This affK)unt is reviewed by Ihe trustees on an annual basis. The r5sk (red by this feserve has been Identified as loss. or material reduction, of core fundlng from the Royal Borough of The truste8s revlw the fmanclal statsjs of the charlty and idenllfy any risk to that stabjs on a FUTURE PLANS This cominYJ yr is all abcxrt preparing the charity for recommi&8loning. We will 8ts0 secure the jmpl9rn8ntal of a t8Year1eas8. mpl our in bull ding a new financial syst. W8 will commerKe an entirely new aspect of work by engaging eMptyS across the l)orough We will WOTk to secure the Tted Chanty Accxe(Sts1ion for th8 sec¢ time. and work to secure tho Carers Trust Qua Standard. 'ExceMence for Carers,. for the ft time. We will launch a befrlending for old8r and bereaved ¢xrer5 and trIrdS securiNJ tinuatiOn, or replaM funding. for our wellbeing supp(xt services. We will ¢>)ntinue to gnm our volunteer team and exlend our M)rf( thin lo131 conMiwnitie& ItludIng the establishment of a blwint for reachlrwJ hi(klen carers thin diverse communities. (kn blggest mission ty far w1 be to retain our S1atsrtY Core Service funding which is due to go out to compethve tender at the fulfflment of our existing 1x)ntra We wlll underte due diligen asseSSnnts in relation to all fuTKled ntra(S. and. as we move ito ts.nv remains pOns1Ve to need. entrepren1 in apFwoach. and fit for purpose. Page 6
THE GREENMCH CARERS CENTRE FOR THE YEAR ENDED 31 MARCH 2024 STATEMEKf OF DIRECTORS, &TRUSTEES' RESPONSIBILrrEs Company and (knrity Law requires the directors and trustees to prepare Financial Statements for each finanoal year which gNe a twe and fair view of the state of affars of the (Thpany and of the surplus or defiot for the compary for that y&qr. In preparing those finan(aal slatements. the directors are Uired to: seled accounting pofici8s and appty them consistenty; make Judgements and estimates Ihat are reasonable arKI prudent state whedw awlicable accounOng starMIaS have been frAlowed. subject lo any malerial depareS disck)sed and explained in the financial slatements; prepafe the finantial statements on the going concem basis. unless It is in8pwopriate to presume that the company 11 conlinue in business. b) d) The directorn and trustees are resp(Kbsible for keeplThJ woper a(xountlng reujrds whi disdose with reasonable aracY at any time the fin8ncial posibon of the company and to enable them to ensure that the finanlial statements compty with the C(xnpani8s Ad 2(Th and the Charilies Act 2011. They are also resp(Thible for Safeguardi the assets of the company and hence ts taklThJ re&sorble steps for prevenlion and detection of frwd and other lrngularities. As far as the dlrectors and trustees are aware at the time the reKx)rt is apwoved there is no relevant audit information {Infomiati( needed by the MpanY'S alItorS in Connecti( with prep their repcml) of vthich the companvs audilor& are unaware. arnl each dlrectorltrustae has taken all the steps that h8 (wht to have taken as a dlrector in order to make himself aware of any relevant audit infomwtbn and kn estsblish that the company's wditors are aware of thai inf0Mln. AUDITORS to re-appoint ihwn wlll be w(V080d at the Annual General Meeting. This report has been prepared in accordan(x with the 8mal (x)mpany regime of section 41912) of Ihe CompaThes Act 20(. Approvad by the Board on .... . . .. Sigrd on its behalr: rir Tlna Challacombe Sknon Tovey
THE GREENWICH CARERS CENTrE INDEPENDENT AUDrroRS' REPORT TO THE TRUSTEES OF THE GREENCH CARERS CENTRE FOR THE YEAR ENDED 31 IAARCH 2024 Opinion We have audited the financial statements of The Greenwich care Centre (the 'ChariW) for the year ended 31 March 2024 whKh Ixjmprtse the Statement of Financial Activities. the Balar SheeL statement of cash flows and notss to the financial statements. induding a SUmmY of significant a(wunting policies. The financial framework that has been applied in the prepathn is appIable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102: The Financial RetM)rting Standard applicable in the UK arKI Rewblic of Ireland (United KSngdom Generalty Accepted A(muntmg Pra1). In opinion, the financial statements." give a bue and fair view of the stste of the Charlty's affairs as at 31 ma 2024 and of ts income and expenditure for the year then ended; have been properly prepared in 8(xx)rdance wilh United KirvJdom Generally Accepted have been prepared in aco)rdance wilh the requirements of the Compani8s Ad 20(. Basls for oplnlon We conducted our alIt in acconIan vAth Internatx)nal Standards on Audlfjng (UK) (ISA8 (UK)) aNI aN1cable law. Our responsibilitss under those standards are futher des(xibed in the Audiiorfs resp(SibIlI11es for the audit of the fin8ncial statements sect#)n of our rep(L We are Independent of th8 Charity in ac(J)rdance wilh Ihe elhical requirements that are relevant lo our audtt of th8 financial statements in the UK including the FRC'S Ethi(%1 Standard and we have fulfilled our other ethical responsibllities in a(xxNthnce with these requirements. We believe that the audit evidenco we lve oblained is sufft18 and appropriate to provide a basis for our opinn. Concluslons rolallng to golng concorn In auditing th8 financial stal8ments, we have Cc*iCk that the trust, Use of the going concem basis of a(ntIng in the pr8par8tion of the finanoa ststsments is appropth. Based on th8 worf( have perfomied. we have not Idalfied any matertal uncertainlles relalkng to events or condltlons thac Indlvidualy or collectivety. may cast slgnificant dbt on the charftys abilty to conlinue as a going cornxm for a perlod of at least Iwelve monts from when the fman(aal statwnents are autIriSed for issue. Our reSp(lbilItles and the reswnslbilities of the dyectors whh respect to going corKem are descfbed in the relevant seCtior of thls rep( The trustees are responslble for the other inforrnthon. The other infonnation comprises the infomwtion itKILxled in the annual report otsr than the financial statements and our audilorfs re¥x)rt thereon. Our opinion on the financial statements does not cover the other infomiation and, except to the extent Otherwi expli• stated in ¢)ur repor( we do not express any fomi of assurance condu8i)n thereon. In o)nn&tion with our audit of th8 fmancial statements. (wr responsibility is to read the otsr infomiation and. in doing so, cOrKIer vthetsr the othef Infonnation is materially inconsistent th the financial statements or our knry•A• obtained in tho audit or otherwise appears to be matefiaSly misstated. If wa Identify sh Matla1 inconsBtsncies or apparent materia misstatements. we are required to detem)in ether tte is a material misstatement in the financial statements or 8 material misstatement of ts other information. If, based on the work we have perfomied. conduda that there Is a material rni8Statement of thi5 other infr)mptk)n, we are required to report that We have nothing to report in this
THE GREENWICH CARERS CENTRE INDEPENDEKf AUDrroRS REPORT TO THE TRUSTEES OF THE GREENMCH CARERS CEKfRE FOR THE YEAR ENDED 31 IAARCH 2024 In our opinion. based on the wuk uThlertaken in the (X)U of the audit th8 irrf(Ynth gNen in the trustees. rewt Cin(xxporaling Ihe dract<X5' reiy)rt) ts the the trustegs. rept (in(wmtiro the dIorS. report) have been prepared in In the light of the knowledge and understthing of the Charity ar#J its environmert Oblatrd In We have noth to rewt in respect of the followlng matters in rektion to which the colnIeS Act 2(M)6 requwes us to report to rf, In our oplnlon: the flnancial statements are not In aweemwlt wlth the a(%ounllng rec8 and retums; we have not ijbtalned all the information and explanations rttessary for the purposes of our audiL As exp1awd more fulty in the trustees. respOlbIllIes statemt, the trustee8 are responsible for ts preparati ot the fina181 statements and for being satisfied that give a truè and fair view. and for such intemal (x)ntrol as they d6temiine is nec&%8ary to enable lh8 preparan of financial statements that 8re free from matsTial misstatemen( whelhw duo to fraud or eIr. In preparwu tho Ilnancial ststMents, th6 trustees arn re8pcThibl8 for assessww Iha Charitys ability to continue as a going concem. dtsdosing. as applic4ble. matters relatad to going concxn and using lh8 goirvJ conc8m basis of accounlwig unless the tfusle85 either ntef¥J to quidate the Charity or to se OFwalions, cff have no rebc 8ltemative but to do so. Our rosponslblllllos for th• audlt of the Ilnw)clal statements Our objectives are to obtain reas4Thble assurance abt whether th8 flnandal StateMts as a yIKle free from mgteiial misstatement, whether due to fraud or em)r. aThJ to issue an auditofs rep(Mt that indudes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducled in accordance with ISAS (UK) VAI aways detect material misstatement when il exists. Misstatements can arise from fraud or ern)r and are (xJnsider8d mat181 rf, WKlividualty or in the agw. Ilw coukl reasonabty be expe(aed to infiuence the econom decisions of users tsken on the basis of these finan(xal ststements. Irregularities. inckKling fraud. are tanCeS of non-complianc wilh lavs and regulatior We design procedure5 in li wr responsibililies. ouuined above, to delect material misstatemenis in respect of wregularilies. induding fraud. The extent to whith cw wlureS are capable of (letedwig irregularilies. ind[j fraud are t out bek)w. In KIenting a1 assessing risks of material misstatement in respect of wregularities. induding fwl and nOnOMplian¢e with law6 arKI r8gulaliorLs. ow procedures rKluded the following: Page 9
INDEPENDEiifAUDrroRS' REPORT TO THE TRUSTEES OF THE GREENVIICH CARERS CENTRE FOR THE YEAR ENDED 31 IAARCH 2024 We perfOrn anatytical wocedures to Klentify any unusual or unexp8cW relatK)nships that may indKate rtsks of mtsial MiteMent due to fraud. In addressing Ihe risk of fraud through management overTKle of UKbtrols. we tested the appropiateness of ioumal entr and other adjustments, assessed whethw Ihe judgements made in making a¢cA)unling estwnates are indicatlve of a potential bias and tested Snif1 trdilsaclions that are unusual or those outsmle the notmal (x)urse of Because of the inherent limltaltons of an audit. there Is a rBk that will not detect all irregularilies, indudlng those leading to a material misstatent In the fmancial slatements or rK)n-cornpllan regulation. The risk is also greater regarding irregularities 0c¢wrrW due to fraud rather than emx. as frdud HMAves inlenlional concealment, forgery, collusion, omissK)n or A further desrybon of our reSpMs1b1tIeS for the audk of the finayjal statemerts18 located on the Financial Rep(l1g Council's website at [www.frC.¢xg.uklauditor8Spons1b1frtle51. Thls description fomis part of our auditi)rfs rep(wL Llse of our rnport This report Ss made solely to the Charity's rnmber5, as a body. in aCance wilh Chapter 3 of Part 16 of the C(xnpanl8s Act 21K16. Our audit vrtxk has been underlaken go that we might stste to the Charftys membets those malters we are requred to state to them in an audi5 report and for no other purpose. To the fullest extent pItted by law. we do not accept or assume responsibility to anyon8 0th8r than the Charivs members as a b(Mty. for our audit wcrfk. for this repcrt or for the opinions we have f(Kmed. An11Y Epton ( for and (m bohalf of Goldwlns Umltad Statutory Auditor Chartered A¢counlant• 75 Maygrove R¢)ad West Hampstsad London NW6 2EG tory Auditor) Page 10
sTATEhlEr OF HNANCIAL ACTivmES (i)c4xpti an income and expendilu ac(¥)unt) FORIHE YEAR ENDED 31 AIARCH 2024 2024 223 Total funds Donations and legaS 10.577 10.577 Charitsble athities 645,024 13,087 49).257 Ottw tr8ding adivit 31.574 31.574 40.942 Tolal InGomo 687.175 13.087 700362 536,643 640,TT4 44.678 685A52 583.410 Total 0xpendire 640,774 583.410 Net Income l (expondlturn) bgforn transf•rn 46A01 14,810 (46.767) Transfers between funds Not Incom• l (w>•nditurn) for tho yoar 46,401 (31.591) 14.810 146.767) Reconclllatlon of funds: T¢Jtal funds br(g forward 15 101,437 31,591 133,028 179,795 147.838 147,838 133,028 All of the abov8 results are d8rtvl from mltlnulng acll¥lli88. Page 11
BALANCE SHEEr AS AT 31 IAARCH 2024 2023 2023 Tangible assets 10 33.427 33.427 11 31619 34.557 110.236 144,793 Cash at bank 8nd in hand 237203 Llabllltlos: Creditors: arrrfnts falling due ithin year 12 (45.192 146N16 99.601 Total n•t a880ts 147.838 133.028 Funds 15 Restricled fvnds 31.591 Unrestricted funds: Designated furKIs General funds Total unrestrictgd fvnds 100,000 47.838 75,000 26,437 147,838 101,437 Total funds 147.838 133.028 - 2.9.,. ...QAfv kL and sig1d on their behalf by". Dr Tlna Challacombo Slmon Tovey The alla(*A notes fcThi part of the finan(aal stalements. P4e 12
THE GREENWICH CARERS CENTRE STATEMENT OF CASH FLOW FOR THE YEAR ENDED 31 PIARCH 2024 2024 2023 2023 Net cash provided by l (used in) operating acbvibes 16 94702 (55,448) Cash flows from Invesling a¢tlviti•s: Salel (purchase) of red assets Cash provKlad by l (used In) Investing adfvllles (354) Changg In cash and cash equlvalents In the year (55.448) Cash and cash equivalents at the beginnlng of the y Change In cash and cash equivalents due to exchanga rnte movements 110.236 165.684 Cash and cash oqulvalents at tho of the year 17 110,236 Page 13
THE GREENbMCH CARERS CEKTRE NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 IAARCH 2024 a) Basi5 of preparallon The finanaal statenwts have been weparaj in a¢x(xdan with Accwntir¥J and ReIg by Charitles: Statefflent of Re)MmeTHjed Praclice applicable lo tharitses prepar1 Iheir aCxXntS in ac(xXthn with the Finan(ial RertIng Standard appllcable in Ihe UK and RblIC of Ireland (FRS 102 - effective 1 Jary 2015) - (Charilies SORP FRS 102) arKI the Companies Ad 2(. The charltable company meets the definition of a wblic benefft entity under FRS 102. Assets and liabilities are inilialty re(nISed at historlcal cost or lr8nSactiL value unless olhoThTh stated relevant ac¢ounling policy or . b) Golng c<wKern The trustees (aThKler that there are no material unrtaTleS about the charitabl8 (xxnpans ability to uncetsnty at the rep(ling date that have a signifi12nt risk of causing a material adjus1me to the carryi amounts of assets and liabiliti within the next rep(wling period. c) Inco the income have been me( it is probalAe thal the ineA)m will b8 recwed WKI that the amount can be maasured ieliabty. In¢ome from govemmerrt and olhef grants, whe11 'C8iMlal' grants or 'revenue' grants, is rec(yJnised when the chaTIty has entitlement to lh8 funds. any performance condltlons attached to the grdnts hav6 bean met, it is probable that th8 Incom8 w511 b8 recefved and the amount can be measured lIablY and is rnt detsrred. Income received in advan for the provision of speofied servi(¥ is defefred untl the criteria for income re(xJgnill¢)n meL For lagaaes. entiuement is tsken as the earlier of the date on the (knity is aware thal wobata h8s been granted, the estate has been fmalised arKI nOtifilon has baen made by the execulor(s) to the chity that a distribution will be made, or when a distribution is received frn the estate. Receipt of a legacy. in whole or in par( is only Consi pnthble when the afflount can be measured reliably and the charty has been notified of the exe(xttS Intsnkn to make a distrlbulion. Where legacies have been nolified to the charity. or the charity is awar8 of the grdnting of prcthte, and Ihe (xiteria for inco recAnItion hav8 not baen mel. then thg18qacY Is a treated as a conllnoent asset and disclo8ed rf mala1. dl Donations of glfts. s•rvlc88 and facllltles Dona prdessional services and donated fac¥llOes ar8 rwni88d as Income when the charlty has control receipt of e(x)nomic benefit from th8 U58 by the thlty of ts item is probab18 wJ that economlc benefft can be measured reliably. In accordance wilh the Charilles SORP (FRS 102), volunteer lrn is not re(x)gnised so refer to the trustees, annual report for rn0 w)fomithn abcKrt their (x)nlribulion. On receip( d(mated gifts. professK)nal Servi and donaled faGlilies are re(x)gnised on ts basls of the value of the gift lo the charity which is the amnt the charity would have been willirvJ to pay to oblain seThices or facilities of equivalent 8conomK benefft on the ¢yn marf a corresponding amount is Ihen recognised in expendilurn in the wicxl (rf •pL o) Interest receivab Interest on funds hekl depo&t is induded vtt 1vable aThJ the amunt be measural reliably by the drILy. thts Is upon TK)lifi(th of the interest paid or payable by the bank. fj Fund accwrtlng Unrestri(aed fund5 are available to SP8nd on 11¥118 Ihat further any of the purposes of tharity. Deslgnaied funds ar8 unrestri(*ed funds of Ihe charity whlch the trustees have dec#d8d at Iheir dIs(xe1k to be sdely used for parti(xtsr areas of the chariWs or sF)e(xFK projects bel undeTlaken by Page 14
THE GREENWICH CARERS CENTRE NOTES TO THE FINANCIAL STATBIENTS FOR THE YEAR ENDED 31 IAARCH 2024 1 Acc4ntIng pollcits {conlinued} g) Expendiiura and irrecoverable VAT Exp8fwJiture is r8(yJgnised once there is a legal or Constr obligalion to make a payment to a third paty. it is prcthble that setdement 11 be tequred and the amount of Ihe obligalTh (an be m&2SUted reliably. EXdire is dassified under the followr¥J ac*vity headings: . Costs of raising ¢xNnprise of Irading (xjsts and the costs irurred by the tharitable (xwnpany in induring third parli8S to make volunlary contiibuli(ms to IL as well as th8 CA)St of any acbvilw wilh a fuThlraising purpose. underfaken to further the rpo Ihe charity arKI their associated support (x)sts. Other expendiiure reesentS those Ilen not falling into any other heading. Ifrec(werable VAT is charged as a cost against the acllwty for the expendibjre was inrred. h) AllOCath of support Costs Support costs are those fundKmS that assist work of Ihe charity but do not directy urM18rt8ke charitable activlties. Support (x)sts include back offKe costs, finan. personnel, payroll arKI govÈmance costs which raising funds and expenditijre on charitsble adivibes. The bases on whith support cThts have been allocated arè 88t in note 6. I) Oporating knsos Rental charges are charged on a slrnyht line basLs over the temi of the lease. J) Tanglble fixed assets Items of e¢wipment 12iylalis1 the pur¢JMse wice exceeds £1,0(X). DeJaOn is provided at rales lCUlated to write d(ywn the (Tht of assel to ib es1imated resNJual over its expected usefvl equalty over the remalnww18mi of the lease 25% reducing balanc8 50% redu(xng balance Fithres and fiitings Compth equi)ment k) Debtors Trade arKI Other debt5 are re(xJgni59d at the seitlem8nt amnt due aftw any trade disoxmrt offered. Prepanents are valued at Ihe amount wepald net of ary trade disc(xmts due. l) Cash at bank and In hand Cash at bank arKI cash in hand includes cash and short term highty liquid investThnts with a short matsjrity of three m¢Mths or less fr(Mn the date of 8cwisltion or opening of the deposit or 8imll8r account m) Crwlltors and provislons Cr8ditors and provi8ions are re(xJgnised where the tharity has a pr8s8nt obligatson r8suIW from a past event Ihat will probably result In the transfer of funds to a third paty arml the amount duo to settle the Obligath Izn be measured or estimated reliabty. Creditors ar provisi0r are normally recognised at their setdement amount after allowing for ary trad8 dis(xJunts due. n) Financlal instruments The charity onty has financial assets and financld liablllties of a klrKI that qualify as baslc finandal Instruments. Baslc fmancial ItrUments are initially r)gnised at transaclicffi value a1 subsequw)ty o) Penslons Page 15
NOTES TO THE FINANCIAL STATEPAEKrs FOR THE YEAR ENDED 31 PIARCH 2024 2023 2023 2023 Total Income from: Donations and legacies Charitable adivities Other trading adivilies Totsl Incomg 463.647 40.942 510.033 26,610 490.257 40.942 536.643 26,610 Expendlture on: Charitable aCtIlieS 525,210 583.410 583.410 Total expendlture 58.200 Net Inc(xne l oxpondlture boforn transfers Trnnsfers bet8ft funts (15.1T7) (31.590) (46.767) Not incom• l oxpenditurn Reconcillallon of funds: (15,1Tn (31,590) (46.767) Tolal funds bwht forwar(I 116.614 63,181 179,795 101437 31,591 133.028 3 Incomo from donations and Iggacios 2024 2023 Total Donal1( and legacies 10.577 10.577 10.577 4 Incomo from charltable actmtl 2023 Total Royal Borough of GtBenwlth Carets Trust National Lottery Primary (xre netwoths The Henry Smith Charity Garfield Weston Foundati¢Jn Masonic Chaiitabla 497.0(M) 497,000 2A87 81,874 3TI,900 6.610 24,647 2,487 81.874 41,150 25.000 41.150 25.000 10.600 658, 41,100 10.600 2024 Total 2023 Total Stablos incofne Bistro income 7.341 24.233 31.574 7.341 24233 31.574 20.861 20,081 40.942 Page 16
THE GREENWICH CARERS CENTRE NOTES TO THE FINANCIAL STATEhlEKrs FOR ThE YEAR ENDED 31 MARCH 2024 6 Analysis of axpondliure Basis of Charilable Supprxt 2023 Totsl 411.514 38.526 3.174 6.719 19, 411.514 333,868 27.688 Direcl Direct Travel &174 719 19.064 105.230 104230 1,658 38,903 11.349 14.828 14828 32,359 31359 1128 1128 15.716 12,132 89.321 2,228 33,469 18.492 14.613 32.552 1.831 Bistro expenses Premises Staff training & re(xuitment General office Lega & professK)nal Audil & aunts Depreciatson Bank charges Loss on disposal of ed as8ets Usage 38.903 Usage 478.997 2W455 685N52 583.410 ,455 (206.455) Total •xpondlturn 2024 685A52 Total eXpendire 2023 583.410 583.410 Of the totsl expendiiurn. £640,774 (2023: £525210) was Unrestri( aThJ £44.678 (2023: £58.2(M)) was r8stricted. Support costs aro dI0ed based on the woi8thd tima sp8nt by th6 empkny883 on varfous charitablo activities. Page 17
THE GREENWICH CARERS CENTRE NOTES TOTHE FINANCIAL STATEMEirrs FOR THE YEAR ENDED 31 MARCH 2024 7 Net income l (axpondliure) for the year 2024 2023 This is stated aftw chaning l (crediknJ): Opernting l&qse rentas: 50375 49.253 31359 32.552 33 3.750 Audilorfs remunera 2024 2023 Salafies and vages 370.265 28249 13,000 411.514 300,561 22.673 10,634 333.868 Employerfs contrilxrtk>n to (x)ntritArtbn penslon schemes No employee rec£fved employee benefits (exdudffKJ pension) exceedlng £60.CMXI during the r (2023: No empw). The tolal emFlo)e berth indudiNJ pen8th COntrth and empws natlonal Insurance of tho key managemeni were £148,7(M) (2023: £158,942). None of the trustees received any remurf8Iw)n or re1mlrseMent for any e)yen88s during Iho year (2023: £nil). No charity tsustee received payment for prOfeSsal other services suppli1 to the chaiity (2023: £nl). There were 16 ful and part4ime emplosyes during the star {2023: 13). 9 Taxallon The charttab company Is exempt from WpOrati tsx as all Its Income Is charltable ar Is applled for 10 Tanglble flxed assels At th8 start of the r Additions in yEar At the end of the jpar 311.475 28.470 37.153 377.098 354 37,507 377A52 311.475 28.470 Dapreclallon At the start of th8 year Charge year At the end of tho >ear 279,884 31.591 311.475 27,160 328 27.488 36,627 440 37.067 343.671 32.359 376.030 Net book value At the ond of the y At the start of the year All of ts above assets are used for chafftable purposes. 31.591 1.310 33.427 Page 18
THE GREENWICH CARERS CENTRE NOTES TO THE HNANCIAL STATEMENTS FOR THE YEAR ENDED 31 tCH 2024 2024 2023 Prepayments and other debtors VAT Receivable 3214 305 31619 32.314 2,243 34.557 12 Crndltorn: amounts faHlng due wlthln one year 2024 2023 Taxation and social seIlty Accruals 6,760 19.376 19,056 45.192 90.787 20 2023 Balance at the beginning of the year Amount released to in(x)me in ts sear Amount deferred In the year Balance at the end of the year 19.056 89.160 (19.056) (89,160) 43.959 19.056 19.056 13 Pemlon 8dme 14 Jls of n•t a8tats botwo•n funds Tangibl8 fixed assets Net current assats 1,422 46,416 100.(M)O 146A16 Anaty of net a3sets beiween fund5 2023 Talble fixed assets Net current assets Net assets at the erKI of the yBar 1.836 33,427 24.601 75,000 99,601 .437 133.028 31,591 Page 19
THE GREENWICH CARERS CEPffiIE NOTES TO THE FINANCIAL sTATEh1EPs FOR THE YE*R ENDED 31 MARCH 2024 15 PA0vam• in funds At1Awl At 31 PAar 2024 Income EXditUre Transfers Stables fund Grants 31.591 (31.591) (13,087) 13.087 31.1 13,087 {44.678 Unrestricted funds: Designated funds General funts Total unrestrlcted funds 75.000 26.437 101,437 25.IJ)O 25.000 100.000 47.838 147.838 687.175 687,175 640.774 640.774 Total funds 147.838 Plovements In funds 2023 At 1 Aprll 2022 At 31 Mar 2023 Income Expendlture Transfer8 Restric1 funds: Stabs fur Grants 63.181 {31.590) (26,610) 31.591 26.610 Totsl reStrIc funds 63.181 31.591 (58.200) 31.591 unrestri funds: DeswJnated funds General furKIs Total Unrestric fvnds 75.000 41,614 116,614 75.000 26,437 101.437 510.033 510.033 525.210 {525.210) Total funds 179.795 541.624 583.410 133,028 16 R•conclllallon of n•t IncoTh I lexpndlture) to not ¢ash from operatlng actlvlt 2024 2023 Il•t Income l (eXwltUre) for the reportlng pgrlod (as perthe statement of financlal actlvltles) D8preciation Di5w)sal of fixed assets (InGreasey decrease in debtor8 In(xeasel {de(xease) in creditDrs Net cash wovlded by l (used In) oporathry actlvili 14810 (46.767) 32J59 32.552 1,938 4S595 (7.456) 33.777 55.448 Page 20
NOTES TOTHE FINANCIAL STATEMEIITS FOR THE YEAR ENDED 31 MARCH 2024 17 Anatysis of cash and cash equivalants At31 Other At 1 April 20Z3 Cash changes Cash at bank arKI in harKI 110236 Tolal cash and cash equlvahnts Totsi (xsh and cash ul¥ats 2023 110.236 18 Operatlng lease commltments Total fvture minimum lease payments under non4mHable operallng leaw are as follthvs: Propety 2024 2023 Less than 1 year 1-5y8*s 50275 49.253 19 Legal status of thg chaiity The charity is a company limited by guarantee and has no share capital. Each member ig kable to contr11te a 8um not exfxdiThJ £1 in the event of the (knrity bekng Mjund up. There wer6 no related party transadims duTing th8 year (2023: none). Page 21