CAMDEN CARERS (Registered charity no. 1042757) REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024
CAMDEN CARERS (Rregistered charity no. 1042757 REPORT AND FINANCIAL STATEMENTS For the year ended 31 March 2024 CONTENTS Page Legal and administrative information Management Committee's report Auditors. report statement of financial activities Balance sheet 12 Statement of cash flows Notes to the financial statement5 14
CAMDEN CARER5 REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS For the year ended 31 March 2024 Management Committee Tayo Adehin Anita Berlin Melissa Fabio Tibor Gold Prakash Kurup Bee Lee Yukiko Lorenzo Jacqueline Spigel Desmond Walcott Chair Bee Lee Treasurer Prakash Kurup Secretary Allegra Lynch Senior Management Team: Chief Executive Officer Allegra Lynch Charity reg. no. 1042757 Registered office and operating address The Greenwood Centre 37 Greenwood Place London NW5 1LB Auditors Knox Cropper LLP Chartered Accountants and Statutory Auditors 65 Leadenhall Street London EC3A 2AD Bankers National Westminsler Bank PLC 166 Camden High Street London NW1 ONE CCLA Investment Management Ltd 80 Cheapside London EC2V 6DZ
CAMDEN CARERS MANAGEMENT COMMITTEE'S REPORT For the year ended 31 March 2024 The Management Committee, who act as trustees for charity law purposes. submit their annual report and the financial statemen15 of Camden Carers {CC) for the year ended 31 March 2024. The Management Committee confirms that the annual report and financial statements of the Charity comply with current statutory requirements, the requirements of the Charity'5 governing document and 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 1021 (effective 1 January 20191 CHAIR'S REPORT At the beginning of 2023 organisational changes agreed by the board in 2022 were implemented. Bringing back the role of Deputy CEO has allowed the CEO to focus on fundraising and development for the organisation. Staff, trustees and volunteers continued to work hard and offer a friendly professional services to carers. The Deputy CEO has taken over the operational running of services and implemented a number of changes including using Teams for all calls instead of Horizon. We were successful in a number of bids including Hampstead Campden and Wells grant (£9,000 core project cosls). Time to Shine (Rank Foundation) and Carers Trust- Time for me1£8,000). The 2021 census shows 14.600 carers living in Camden. Al the end of March we had 4400 carers registerèd with us. ACHIEVEMENTS AND PERFORMANCE Registered 381 new carers 1117 carers accessed support through our support line Offered 1557 hoLJrs of suppart through the line Received 11,757 calls throughout the year Made 15.028 calls on behalf of carers Undertook 228 carers conversationslassessments Undertook 223 carers reviewslasse5sments Completed 175 carers health and lifestyle checks 114 carers completed counselling Offered 117 activities across 289 sessions Facilitated the Dementia Action Alliance meetings Attended MDTS (Multidisciplinary Team meetings) and virtual ward meetin9S Supported Camden Carers Voice (the inéependent voice of carers in Camden) Ran the Black Carers Collective, monthly mental health group, the family members reference group, older and Ran a successful week of activities for Carers week in June Brought in grants of £87,635 to 336 individual carers Held five Dementia Action Alliance meetings Supported UCHL IUniver51ty College Hospital London) with training medical students to understand the needs of carers Received a wide range of complimentslthank yous The Quality of life survey showed that 87°k of carers completing the survey said contact with Camden Carer5 had improved the quality of their life and 85 /0 said they rate our organisation highly.
CAMDEN CARERS MANAGEMENT COMMITTEE'S REPORT For the year ended 31 March 2024 In SepteTnber we were Successful with a bid we put in to The Rank Foundation for a Time to Shine-leader5hip programme, allowing us the opportunity to employ a full-time, Time lo Shine Leader. for 12 months. We took on an Event Coordinator focussing on our 30th anniversary celebration5 for 2024. The aim of this work is to Increase the profile of carer5 Raise £30,000 iry unrestricted funds Deliver 30 events and activities for carers throughout the year In October, Camden Carers ran its third Young Adult Carer (YAC) residential.. to the Brecon Beacons, Wales wth 8 YACS and 2 staff. One YAC said, "l absolutely loved this trlp, it was a literal whirlwind of rock climbing and wading through waterfalls. The experience showed me I have the strength to power through situations, while having a good laugh and feeling 5UPPOrted by other young carers." Another commented, "Being in nature and doing fun activrties outdoors greatly helps improve my wellbeing in 50 many ways. It's helped me to build my confidence by going out of my comfort zone. lower my anxiety, meet new YACS, try new things. learn new skills and overcome challenges." 4 51aff started at the organisation and 5 staff left Ihe organisation. STRUCTURE, GOVERNANCE AND MANAGEMENT Camden Carers (CC) is a registered charity that converted from a company limited by guarantee with no share capital {company number 02956383, incorporated on 8 August 1994) to the charitable incorporated organisation, CIO (company number CE026446, charity number 1042757) on 16 August 2021. As a result, the business, including assets, liabilities, reserves and operations of the incorporated charity were transferred to the charity incorporated organisation. Hereafter in the report. the charitable incorporated organisation (charity number 10427571 is referred to as charity and Camden Carers. The consititution of Camden Carers is based on the foundation model constitution set out by the Charity Commission. The Management Committee Members are appointed by the membership at the Annual General Meeting or co-opted beeen meetings_ Day to day management of the Charity is delegated to the Chief Executive Officer_ MANAGEMENT COMMITTEE AND KEY MANAGEMENT PERSONNEL Management Committee members are the Charity's Trustees and Directors under Charity law. Prospective member5 are invited to attend meetings of the Committee. On agreeing lo become a member and eligible for election, a trustee induction pack is made available outlining the work of Ihe Charity and the roles and responsibilities of the Management Committee and its members. Training is accessed through Voluntary Action Camden. Key management personnel compnse the Management Committee Members and senior management who consist of the Chief Executive Officer, Allegra Lynch.
CAMDEN CARERS MANAGEMENT COMMITTEE'S REPORT For the year ended 31 March 2024 All trustees give of their time freely and no trustee received remuneration in the year. Details of trustee expenses and related party Iransactians are disclosed in the notes to the accounts. The remuneration of the Chief Executive Officer is reviewed annually along wth other members of staff by the Management Committee who determine if a pay increase will be made. OBJECTIVES AND ACTIVITIES Camden Careis offers information. advice and support to unpaid adult carer5 118+) living, working or studying in Camden, or caring for someone 0 lives in Camden. Camden Carers is also the gateway to nurnerous services provided by other local organisations and agencies working with carers in Camden. We offer a wide range of services to carers to enable them to maintain their own health and wellbeing, to have a life outside of carin9 and lo continue caring. Camden Carers delivers a flexible. accessible service through group and one-to-one sessions, telephone, face to face, video callslzoom or email. We offer the following services to support carers.. Advice, support and information Carers conversations {assessmentl these are a statutory requirement for local authorities to carry out (Camden Carers do them on behalf of Camden) Counselling service Individual grant applications Support th foodbankslvoucherslequipmenubenefitslone off payments Health and lifestyle checks A wide range of breaks," groupslactivitiesloutings An urgent brief break intervention {in an emergency) Oversee Camden Dernentia Alliance work. aiming to make Camden a dementia friendly borough Specialist support for Mental Health carers. Dementia carers. Learning Disability Carers & Young Adult Carers (18-30) Highlights for the year Achieved Bronze trailblazer award from Race Equality matters Awarded £50klyear for grants that go directly to carers through Glasspool Supported Camden Council with their Carers Action Plan Launched Young Adult Carer {YAC) strategy,. which was produced by and for YACS The E+D Group wrote a new strategy for 2023- 2024. to ensure Camden Carers reach underrepresented groups Worked with Medical students from UCHL Worked with partners to facilitate 'Who is a Carer, and promotion of seNices through Making Carers Counl project Worked th virtual ward to support hospital work around admittance avoidance Worked with Cllr Revah (Carers champion) Approached by filmmakers The Game to 5UPPOrt a short film Aieas of concern Continuing lo look for funding lo repla employment supportlrole Continuing work from Making Carers Count Increased demand for seNices
CAMDEN CARERS MANAGEMENT COMMITTEE'S REPORT For the year ended 31 March 2024 Ongoing impact of financial crisis on carers and staff Reduced reserves Lack of one to one spacelmeeting rooms in the building PLANS FOR THE FUTURE Camden Carers will be entering year 7 of our 7 year contract wlh the Local Authority at the beginning of April 2024. There have been no concems with our performance over the entire contract and we will bid for the contract when it comes out in the autumn. The local authority have agreed that a large part of the Accelerated Reform Funding should come to CC for work during 2024-2025, showing the confidence they have in Camden Carers. For 2024-25 the board are planning Continued focus on fundraising Looking at communication across the organisation Bidding for the carers contract {due in October 2025) Working towards relevant quality marks Lasting legacy of Making Carers Count project- focus group to continue PRINCIPAL RISKS AND UNCERTAINTIES Like every other business in the country the pandemic wll influence how we offer services in the future. The importance of supporting carers has been highlighted acr055 the country and the role that charities play in society is finally being fully recognised. The continued cuts from central govemment will impact on the work we do. Changes at the Clinical Commissioning Group and wider changes could also impact on our work. Challenges include staying focused on continuing to offer a first rate service to carers amidst a continued background of worldwde changes in how organisations operate. Like other small charities we face the ongoing challenge of cornpetitors for ever decreasing pots of money. The board and Senior Management Team need to continue to put carers at the heart of all decisions made. We will continue to involve and listen lo what carers tell US Is important to them and act on the feedback we get. Other carers organisations are Merging and we need to be mindful of both the benefits and the pitfa115 that such merging brings for carers of people in Camden. CC continues as a network Partner of Carers Trust and the CEO regularly meets with other carers organisations across London and the country to discuss the challenges faced by our organisations. PUBLIC BENEFIT STATEMENT The Management Committee Members confirm that they have complied with their duty to have due regard to the guidance on public benelit published by the Charity Commission in exercising their powers and duties.
CAMDEN CARERS MANAGEMENT COMMITTEE'S REPORT For the year ended 31 March 2024 FINANCIAL REVIEW Over the year, income was 1.043.313. an increase of 0.11 % froffl last year 12023: £937,682). This includes (il Income for Working for Carers project from Caiers Trust (li) Income for Making Carers Count project from Carers Trust liiil Income Camden Carers Services Contracts from LB Camden. This allowed us to continue to deliver a more diverse service to carers, such as the dementia project. emotional support and counselling, heallh and wellbeing seNices in Camden. Our total expenditure stood at £994.792, a decrease of CJ.080/0 from last year (2023. £1,083.3731 reflecting our increased levels of expenditure on our unrestricted grants and funds.15ee note 14 of our accounts for delailsl. RESERVES POLICY At year end, our total reserves stood at £91,408 compared to last year (2023.. £42,887}. These were held as Restricted for specified charitable purpose {£27,697) and Unrestricted1£63,711 }. We reviewed our reserves policy during the year. It remains our objective to build a general reserve sufficient to cover at least two months, operating costs which currently stand at £120,000. to cover any statulory redundancies, 2 months, essential operation costs and other closure costs. The general reserve is currently £63,711 12023." £33,578) so is above 1 month of operating costs_ We built up our target reserves to increase our unrestricted grants income and to iTftprove savings via value for money exercises of services we use. Should the reserves exceed two months. operation costs of £120K then the Board )Mll plan to invest the extra over £120K into new services for carer5. FUNDRAISING POLICY The Charity doe5 not use fundraising services, consultants or external professional fundraisers to undertake its fundraising activities. Additionally no data 15 shared with or sold lo any external agencies. It doesn't approach or pre55ure vulnerable people to support its work. A complaints policy is in place and is a¢Ges5ible on the Charity's website. The Charity adheres to the Fundraising Code of Practice issued by Fundraising Regulator. Fundraising events carried out on behalf of the Charity are monitored by the senior management team to ensure compliance th the Fundraising Code of Practice. Statement of Management Committee's re5pon5ibilities The Management Committee are responsible for preparing The Annual Report and The Financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), Including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Charity law applicable to charities in Englandiwales requires the ManageTnent Committee as Trustees to prepare rinancial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the surplus or deficit of the Charity for that period. In preparing those financial slatements the Management Committee is required to.. select suitable accounting policies and apply them consistently. observe the methods and principles in the Charities SORP.
CAMDEN CARERS MANAGEMENT COMMITTEE'S REPORT For the year ended 31 March 2024 make judgements and estimates that are reasonable and prudent, State whether applicable accounting stan(lard5 have been followed, subject to any material departures disclosed and explained in the financial statements". and prepare the financial Statements on a going concem basis (unless it is inappropriate to presume that the Charity will continue in operation). The Management Committee Members are responsible for keeping adequate accounting record5 that are sufficient to show and explain the Charity's transactions and disclose wth reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the Charity and hence for taking re350nable steps for the detection and prevention of fraud and other irregularities. The Management Committee Members are responsible for the maintenance and inlegrity of the corporate and financial information included on the Charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. STATEMENT OF DISCLOSURE OF INFORMATION TO AUDITORS In so far as the directors are aware, that.. there is no relevant audit informalion of which the auditors are unawdre", and we have taken all the steps that we ought to have taken as direc1015 in order to make ourselves aware of any relevant audit information and to establish that the charity's audilors are aware of that information. This report was approved and authorised for issue by the Management Committee on 30 October 2024 and signed on its behalf by: Bee Lee Chair
CAMDEN CARERS INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CAMDEN CARERS Opinion We have audited the financial slalements of Camden Carers Centre I'lhe charily'l for the year ended 31 March 2023 which comprise the Statement of Financial Aclivilies, the Balance Sheet, the Statement of Cash flows and notes to the financial 5talemenls. 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 ACpted Accounting Practice). In our opinion, the financial statements-. give a true and fair view of the stale of the charity s affairs a5 at 31 March 2023 and of ils income and expenditure for the year then ended-. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Piaclice., and have been prepared in accordance with the requirements of Ihe Charities Act 2011. Basis for opinion We conducted our audil in accordance with International Standards on Auditing (UK) {ISAs (UKII and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial slalements section of our report. We are independent of the charity In accoidance with the ethical requirements that are relevant to our audit of the financial slalements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our olher ethical responsibilities in accordance wilh 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 nol identified any material uncertainties relating to even15 or conditions that, individually or collectively. may cast significant doubt on the charity s ability to continue as 3 going concern for a period of at least twelve months from when Ihe fiDanci31 statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other infomiation The other information comprises the information included in the annual report, other than the financial statements and our auditor's report Ihereon. The trustees are responsible for the other information. Our opinion on the financial statements does nol 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 Iinancial slalernents. our responsibility is lo read the other information and, in doing so, consider whether the other information is materially incon51Stenl with the financial statements or our knowledge obtained in the audit or otherwise appears to be malerially misstated. If we identify such material inconsistencies or apparent material misstatemenls: we are required lo delermine whether there 15 a material misslalement in the financial statements or a material misstatement of the other information. If, based on the work we have perfoimed. 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. IConlinLJed
CAMDEN CARERS INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CAMDEN CARERS (Continued) Matters on which we are required to report by exception We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report lo you if. in our opinion= the information given in the financial statements is inconsistent in any rnalerial respect with the trustees, report., or sufficient accounting record5 have not been kept.. or the financial statements are not in agreement with the accounting records., or we have nol received all the information and explanations we require for our audil. Responsibilities of trustees As explained more fully in the Iruslees, Tesponsibililies statement in the Trustees, Report, the trustees are responsible for the preparalion of the financial slalements and for being satisfied that they give a true and fair view, and for such internal control as the trustees delermine is necessary to enable the preparation of financial slalements that are free from material misstalemenl, wheiher due to fraud or error. In preparing the financial statements. Ihe trustee5 ale responsible for assessing ihe charity's ability to continue a5 a going concern, disclosing, as applicable, matlers related lo going concern and using ihe going concern basis of accounting unless the tru51ees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so_ Auditor's responsibilities for the audit of the financial statements We have been appointed as audilor under section 144 of the Ch3rilies Act 2011 and report in accordance with the Act and relevanl regulations made or having effect thereunder. Our obieclives are lo obtain reasonable assurance about whether the financial slalements as a whole are free from material mis5talement, whether due to fraud or error. and lo issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a maleiial mi5slalement when il exists. Misstatements can aTise from fraud or error and are considered material if. individually or in the aggregate, ihey 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, outlir)ed above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularitie5, including fraud is detailed below.. The Charity is required lo comply with charity law and. based on our knowledge of its actVilIeS, we identified thal the legal requirement lo accurately accounl for restricted funds was of key significance. We gained an understanding of how the charity complied with its legal and regulatory framework, including the requiremenl lo properly account for restricted fund5, through discussions with management and a review of the docurnented policies. procedures and controls. The audit team, which is experienced in Ihe audit of charities, considered the charity's susceptibility to material misstatement and how fraud may occur. Our considerations included the risk of management override. Our approach was Its check that all restricted incorne was properly identified and separately accounted for and to ensure that only valid and appropriate expendituie was charged to restricted funds. This included reviewing journal adjustments and unusual transactions. A further description of our responsibilities for the audit of the financial statements is located on the Financi31 Reporting Council's website at.. Mvw.I .uk/auditorsres onsibilities. This description forms part Df our auditor's report. Iconlinued
CAMDEN CARERS IfrIDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF CAMDEN CARERS (Continued) Use of our report This report is made solely to the charity's trustees. a5 a body, in accordance with Part 4 of the Charities (Accounts and Report51 Regulations 2008. Our audil work has been undertaken. so that we might slate lo the charity'5 trustees those matters we are required lo state lo them in an auditor's report and for no other purpose. To the fullest exlenl permitted by law. we do not accept or assume responsibility lo anyone other than the charity and the charity's Iruslees as a body, for our audil work. for Ihis report of for the opinions we have forrlled. Knox Cropper LLP Chartered Accountants and Stalulory Auditofs 05 Leaclenhall sireei London EC4M 9DN 22 November 2024 Knox Cropper LLP Charterted Accountants is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006 10
CAMDEN CARERS STATEMENT OF FINANCIAL ACTIVITIES (incorporating Income and Expenditure Account) For the year ended 31 March 2024 Unrestricted Funds 2024 Restricted Funds 2024 Total Funds 2024 Total Funds 2023 Note INCOME FROM: Donations Charitable activities Investments 18,746 756,959 6.153 781,858 68,457 192,998 87,203 949,957 6,153 1,043.313 49,486 886,043 2, 153 937,682 TOTAL INCOME 261,455 TOTAL EXPENDITURE 746.187 248.605 994.792 1,083,373 NET INCOMEIIEXPENDITURE) Transfer between funds 35,671 15,538) 30.133 12,850 5,538 48,521 (145, 697) 14 NET MOVEMENT IN FUNDS 18.388 48.521 (745, 691) TOTAL FUNDS AT 1 APRIL 2023 33. 578 9,309 42,887 188,578 TOTAL FUNDS AT 31 MARCH 2024 63,711 £ 27,697 £ 91,408 £ 42,887 The annexed notes fomi part of these financial statements
CAMDEN CARERS BALANCE SHEET As at 31 March 2024 Notes 2024 2023 FIXED ASSETS Tangible assets 852 1,278 CURRENT ASSETS Debtors Cash at bank and in hand 12 24,645 141,412 t8,883 79,862 166.057 98, 745 CREDITORS: amounts falling due within one year (75.501) (57, 136J 90.556 41,609 TOTAL NET ASSETS 91.408 42,887 FUNDS Restricted funds Unrestricted funds- General fund 14 27,697 9, 309 14 63,711 33,578 63,711 33,578 91.408 42, 887 The financial statements have been prepared in accordance with the Financial Reporting Standard 102. The financial statements were approved and authorised for issue by the Management Cornmittee on 30 October 2024 and signed on their behalf by:_ BEE LEE, Chair PRAKASH KURUP , Treasurer The annexed notes fomi part of these financial statements 12
CAMDEN CARERS STATEMENT OF CASH FLOWS For the year ended 31 March 2024 Notes 2024 2023 Net cash inflow from operating activities 17 55,397 (134,816) Cash fl0th from investing activities Interest received Purchase of tangible fixed assets Cash provided by (used in) investing activities 6,153 2,153 (1, 702) 457 6,153 Increase (decrease) in cash and cash equivalents in the year 61,550 (134,365) Cash and cash equivalents at the beginning of the year 79,862 218,501 Total cash and cash equivalents at the end of the year £ 141,412 84, 136 The annexed notes form part of these financial statements
CAMDEN CARERS NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 ACCOUNTING POLICIES Basis of preparation of financial statemenrs The financial statements have been prepared In accordance wth Accounbng and Reporting by Charities. Slalefflenl of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191 Icharilies SORP IFRS 10211. the Financial Reporting Standard applicable In the UK ano Republic of Ireland {FRS 1021- The effects of events relating lo the year ended 31 March 2024 which occurred before the dale of approval of the financial statements by the Management Committee has been included in the financial statements to the extent requ'red to Show a true and fair view of Ihe slate of affairs at 31 March 2024 and the results for the year ended on that date. The financial statements have been prepared in sterling and rounded lo the nearest £1. Camden Carers Centre is a Public Benefit Entity. It is a charitable incorporated oigan15alion, CIO registered with the Charity Commission for England and Wales. The Charity's operab.ng addre55 15 staled on page 1. Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objects of the Charity and which have not èeen designated for other purposes. Statutory grants which are given as contributions towards the Charity's core services are treated as unreslricled. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are lo be used in accordance with specific restrictions Imposed by donors which have b?en raised by the Charity for particular purposes. The cost of administering Such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Income Income is included in the Statement of Financial Activities when the Charity hag entitlement to the funds. receipt is probable and the amouni can be measured with sufticient reliability. Income Is deferred when received in advance of the period that Ihe funder has specified the funding Is for. Donations are included in full in the Statement of Financial Activities wt)en reTrivable. Grants, where entitlement is dependent on the delivery of a specific performan target by the Charity. are recognised when the Gharily becomes uncondrtionally entitled to the grant, when the grant can be measured reliably and when it is probable that il is reivable. The Camden Carers ServiTr ICCS) contracts are three year contracts and they are payable by London Borough of Camden lo Camden Carers Centre. The funding Is dependent on the delivery of the specific targets by the Charity and its consortium partner Camden Carers Centre (CCC) Is the lead partner and undertakes the majority Df the contracted work. If CCC fails lo provide the service required, LB Camden has the right to Issue a default notice or to deduct the amount payable to CCC and its consortium partner. The funding from LB Camden is therefoie only recognised then li is clear that the specified targets have been achieved. Bank inlerest is included when received. 14
CAMDEN CARERS NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 Resources Expended All expenditure is accounted for on an accruals basis and has been induded under expense categories that aggregate all costs for allocation to actsvities. Where costs cannot be direcuy attributed to paCUlar activities they have been allocated on a basis consistent wth the use of the resources. Support costs are those cost5 iT)curred in support of expenditure on the objects of the Charity. They are apportioned based on the proportion of the management fees of e3ch activity. G0Veman costs are included in support costs and are those incurred in connection th compliance with constitutional and statutory requirements. Investments Investments are slated at market value at the balance sheet dale. The statement of financial activities include5 the net gain5 and losses arising on revaluations and disposals throughout the year. Tangible fixed assets and depreciafion All assets costing more than £1,000 are capitalised. Tangible fixed assets are stated al cosl less depreciation. Oeprecialion is provided at rates calculated to write off the cost of fixed assets. less their esbmated residual value. over their expected useful lives on the following bases.. Office equipment Website development 250/0 Straighl line method on cost over 2 years Operating leases Rentals under operating leases are charged to the Statement Df Finanal Aciivities on a straight line basis over the lease term. Debtors Debtors are recognised when the Charity is legally entitled to the Income after any performance condihons have been met, the amount can be measured reliably and it is probable that the income wll be received. Cash at bank andin hand Cash at bank and in hand includes cash and short tetrn highly liquid deposits with a maturity of three months or less from the date of deposiL 15
CAMDEN CARERS NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 Creditor5 Creditors are recognised when the Charity has a present legal or constructive obligation resulting from a past event to make payment lo a third party, it is probable that settlemenl will be required and the amount dLJe to settle the obligation can be measured or estimaled reliably. Going Concern The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserve5 for the charity tLI be able lo continue as a going concern. Judgments and key sources of estimation uncertainty No judgements (apart from those involving estimates) have been made in the process of applying the above accounting policies that have a significant effect on amounts recogni5ed In the financial statements. 2. DONATIONS Unrestricted Funds 2024 Restricted Fund5 2024 Total Fund5 2024 Total Funds 2023 Charitable donabons for carers Gift Aid and other Income Sundry donations 1,850 15,934 962 68,457 70,307 15,934 962 29,017 16,517 3,958 49,486 18,746 £ 68.457 87,203 Restricted income from donaiions tolalled £16,627 in 2023_ The restricted charitable donations for carers are received for the named carers. where Camden Carers are passing the funds lo them. Camden Carers do not charge commission or allocate overheads to this activity. All funds reiVed are passed down to the beneficlary carer5. Further details are provide In note 6 and note 15. INVESTMENT INCOME ijnrestricted Fund5 2024 Restricted Funds 2024 Total Funds 2024 Total Funcls 2023 Bank Interest received 6,153 6,153 £ 6,153 6,153 2,153 2,153 Nil £ All investment income was unrestricted in 2022. 16
CAMDEN CARERS NOTE5 TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 4. INCOME FROM CHARITABLE ACTIVITIES Unrestricted Funds 2024 Restricted Funds 2024 Total Funds 2024 Total Funds 2923 LB Camden Other small grants The Rank Foundation Carers Trust The Vandervell Foundation Sainsbury's grant Good Things Foundab"on The Hamp5tead Wells And Campden Trust 734,320 3.090 60,000 794,320 3.090 17,458 115.089 4.000 663,319 3,120 17,458 112.540 2.549 4.000 214,104 4,000 1,500 4,000 9,000 3,000 756,959 £ 192,998 £ 4,000 12,000 949,957 £ 886.043 The Rank Foundation l Department of Digital Cultural Media and Sport (DCMSI Recovery Fund is toward Covid-19 Recovery. COMPARA TIVE INCOME FROM CHARITABLE ACTIWTIES Unreslricted Funds 2023 Restn"cted Funds Total Funds 2023 2023 LB Camden Other small grants Carers Trust The Vandervell Foundation Sainsbury's grant 640. 500 3,120 28,531 4.OOQ 1.500 £ 677,651 22.819 663,319 3.120 274,704 4,000 t,500 886. 043 185,573 208,392 £ 17
CAMDEN CARERS NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 5. TOTAL EXPENDITURE Activities undertaken directly Support costs Totsl 2024 Total 2023 Staff costs CCS Contract Respite Develepomenl & SUF YAC Aspriations Fund The Rank Foundation Cost of Living project Making Carers Count Dementia Action Allian Hospital Discharge Fund Working for carers project Resilience Fund Off line Inclusion 526.027 7,605 2,760 3,861 176.205 129 2,538 709,837 2,889 6.399 807,577 10,043 29, 585 8.530 8,530 1.520 89.492 1.267 22,020 253 2,851 64.621 76, 724 22,939 57,033 16,994 31,356 3.287 62,391 3,284 60.320 79,385 34,640 1,780 136.505 1,780 Total project expenditure Support costs Total expenditure 704,561 54,925 £ 759,486 £ 106,475 128,831 235,306 £ 183,756 {183.756) Nil £ 994,792 1,083,373 994,792 £ 1,083,373 CCS Contract is funding trom LB Camden so we can offer a vanety of serVIS io carers in Camden. such lil inforfflalion, advice and advocacy lill emotional support, Including coun5elling liiil regular breaks and urgent respite livl training and development activities Iv) specialist training and support for carers (i_e. training for carets who look after the cafftd for with mental health, learning disabilities, stroke, or dementia) vil activities for dementia vill health checks. workshops, nutrition project and different health activities viii) leisure activities and support gTOUPS ixl hospital discharge services xl carer engagernenl xil assist other partnership organisations to help them to idenb'fy new cafeis xiil volunteers wort( COMPARA TIVE EXPENDITURE Aclivities undertaken directly Support costs Total 2023 Staff cosfs CCS Contracts Respite Develepofflent & Support Small grants Volunteerprojecf Making Carers Count Demenlis Action Alliance Charitable donations Working for carers project Desigriated funds Total project expendilure Support costs Total expenditure 622,870 8, 153 8, 733 29.165 176,554 1,310 420 807 577 10 943 29,585 63. 584 22. 929 72,550 590 10 76, 724 22.939 101.889 33, 326 1, 290 136, 505 811.272 91,921 54,058 126,116 865,330 £ 218,043 £ 180.174 (180, 7 74) Nil £ 1.083 373 1,083,373 18
CAMDEN CARERS NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 6. GRANT MAKING ACTIVITY 2024 2023 Small grants paid to indivduals 63,776 £ 30,081 Number of small granis during the year 260 166 Further details aTe provided in note 2 and note 15. 7. SUPPORT COSTS Total 2024 Tolal 2023 Rent and Service Charges Room hire Repairj Jnd m8inten8nce Telephone Subscriptions Staff training, recruitment, etc Postage, printing and stationery Travel and subsistence Cleaning Insurance IT costs Bank charges and costs Payroll fees Professional fees Audit fees payable lo auditors Trustees. training costs Prornotions Sundry expense5 Benefits in kind Depreciation Cost of 5UPPOrt activikn'es Wages and salaries 34.812 7.121 1.629 10.897 3,075 6,456 2,066 5,993 34,812 5, 934 2,438 12,D57 3,138 7, 723 3, 056 4, 308 35 2.536 3,411 15.377 14,873 391 395 2,503 2.353 22,493 21.872 7,040 5,964 80 175 1,646 1.046 25 43 4.265 2.057 426 426 128,831 126.116 54,925 54.058 183,756 £ 180,174 19
CAMDEN CARERS NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 7. SUPPORT COSTS {continuedl The above support costs have been allocated beiween vanous carers project via the agreed management fees Df each project. The residual amount of the support cost h85 then been allocaled to the CCS contracts. The reasoning behind Ljsing the management fees as a b8sis for the support cost allocation is because we believe this method is a better way of uiilising our management fees. as the purpose of m8nagernent fees is to fund the support cost. 8. Net IncomelExpenditure on: This is Stated after charging.. 2024 2023 Auditors, remuneration.. Audit fee Operating lease rentals Depreciation 7,040 34,812 426 5.964 34.812 425 land and buildings - on owned assets 9. STAFF COSTS 2024 20?3 Wages and salaries Social security costs Pension costs Redudancy payment 681.188 58,305 14,191 5.802 759.486 767,520 68,987 15,975 12 848 865,330 The average monthly head count was 33 staff {2023- 33 5taffj No employee received remuneraiion of more than £60,000 in the year. 10. MANAGEMENT COMMITTEE AND RELATED PARTIES During the year. no Managemenl Commitiee memL*r received any remunerab.on 12023 £NILI. 1 member ofthe Management Committee eIVed reimbursement of £80 expenses dunng the yeai12023 £1751. There were no other related party Iransaction in either year. During the year, Key Managernent Personnel received remuneration of £62,438 (2023 - £61,270). 20
CAMDEN CARERS NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 11. TANGIBLE FIXED ASSETS Fixture and rittings Cost At 1 April 2023 and 31 MarGh 2024 Additions At 31 March 2024 43.796 43,796 Depreciation At 1 April 2023 Charge for the yeaT At 31 March 2024 42,518 426 42.944 Net book value Al 31 March 2023 Al 31 March 2024 1,278 12. DEBTORS 2024 2023 Due within one year Tiade debtOTS Grant receivable Prep8ymenls 174 17,434 7,037 24,64S 11,175 7, 708 18.883 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade creditors Deferred grant Income Social security and other taxes Other creditors Pension liabilities Accruals 5,511 24,096 15.532 4,260 3,057 23,045 75,501 12.672 20,411 1,675 3,4C13 78,975 57.136 rr d income BalanTr at 1 April 2023 Amount released to incoming resources Balance at 31 March 2024 (25, 997) 25,997 Nil 24.096 £ Income received is deferred If there 15 in place a contract or agreement with the funder which specifies the lime period over which the expenditure of resources on a service can take place. 21
CAMDEN CARERS NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 14. STATEMENT OF FUNDS Brought Forward Income Expenditure Transfers Carried Forward UNRESTRICTED FUNDS General fund 33,578 781,858 1746,1871 33,578 £ 781,858 £ 1746,187 15,538) 5,5381 £ 63,711 63,711 RESTRICTED FUNDS Charitable donabons Other small grants Working for Carers Hospital Discharge Fund Respite. Development & Support Making Carers Count The Hampslead Wells And Campden Trust The Rank Foundation 12.608 633 (1,0291 68,457 {63,776} {1,780> (20,2981 (60,3201 17,289 1.147 492 320 20,835 60,000 1,150 14,0531 12.8891 189.4921 1,739 1,840 91,705 3,000 17.458 11,5201 18,530) 1.480 8,928 or £ 1248.6051 £ 5,538 £ 27,697 SUMMARY OF FUNDS General Funds Unrestricted Funds Restricted Funds TOTAL FUNDS 33.578 781.858 1746,187} 33.578 781.8S8 1746,187} 9,309 261,455 1248,605 42,887 £ 1,043.313 £ 1994.7921 £ (5,5381 15.5381 5,538 Nil £ 63,711 63,711 27.697 91.408 General fund.. These funds cover the unfOseen losses in business and are set aside In case of reduction to future funding. Our aim is lo build a general reseNe to cover the statutory redundancy cost, 2 months essential operation cosis and other closure costs. Fixed assets fund. In accordan with good praciice ouuined in the Charity SORP. fixed assets that are not considered to be easily realisable should be matched by a designated reseNe rather thar. general reserves. The balance carried fonmard Is equal to the nel book value of the fixed assets. Designated fund This fund included capacity development fund which has been set up to cover costs for IT and a fundraising post. Funds transfers '. £1 was transferred from fixed asset fund to general funds.This was partly offset by the movement on the fixed assets fund. Reslricled funds are listed above and have been used for the PUTpose described In note 4. 22
CAMDEN CARERS NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 15. COMPARA TIVE STA TEMENT OF FUNDS Brought Forward Income Expenditure Transfers Carried Forward UNRESTRICTED FUNDS General fund DESIGNA TED FUNDS Capacity development fund 125.752 712.663 {805,240) 403 33.578 291 £ 126.043 £ 291 112 £ 712.663 £ 1805.240) £ 33,578 RESTRICTED FUNDS Charitable donations Dementia Action Allian Working for Carers Other small grants Respite. Developrnent & Support Making Carers Count Aspirations Fund 26,062 16,627 22,819 118,404 130,081) (22,939} (135,215 13.131> 12,608 120 15,782 3.764 11,0291 633 11,193 5.502 232 62,535 £ 225.019 £ 1278,1331 £ 110,043) 176,724) 1.150 (4,053> 67,169 (232} {112) £ 9,309 23
CAMDEN CARERS NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 16. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Funds Designated General Funds Funds 2024 2024 Restricted Funds 2024 Total Funds 2024 Tangible fixed assets Net current assets 852 62.859 63,711 852 90,556 91,408 27.697 27,697 COMPARA TIVE ANAL YSIS OF NETASSETS BETWEEN FUNDS Unrestricted Funds Designated General Funds Funds 2023 2023 Restricted Funds 2023 Total Funds 2023 Tangible fixed assets Net current assets 1.278 120.9261 {19,648} 1,278 41,609 42,887 62,535 62.535 17. RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Cash generated from operations Nel movement In fund5 Depreciation Increase in debtors Decrease in creditors Investment income 48,521 (145,691) 426 425 15,7621 (5. 762) 18,36S 18.365 16,1S3 (2, 153) 55,397 £ (734, 816) 24
CAMDEN CARERS NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024 19. FINANCIAL INSTURMENTS At the balanTr sheet date the Charity held Ihe following". Financial assets Debt instruments measured at amortised cost.. 2024 2023 Trade debtors Total 174 174 11,175 77,11 Cash at bank 3nd in hand of £141,41212023". £79.8621 is held at face valLJe. Financial liabilities 2024 2023 Trade creditors Social security and otheT taxes Other creditors Pension liabilities Accruals Total 5,511 15,532 4,260 3,057 23,045 12,672 20,411 1.675 3,4Q3 18,975 ,13 18 COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES unStrICted Funds 2023 Restricted Funds 2023 Total Funds 2023 INCOME FROM.. Donations Charitable activities Investments 32.859 677.651 2153 712,663 16.627 208.392 49.486 886.043 2.153 937,682 TOTAL INCOME 225,019 EXPENDITURE ON.. Charitable activities TOTAL EXPENDITURE 805.240 805,240 278,133 278.133 1,083.373 1,083.373 NET INCOMEIIEXPENDITURE) Transfer beeen funds {92,577} 112 (53,1141 11121 1145,691) NET MOVEMENT IN FUNDS 192,465) {53,2261 1145,6911 21. RELATED PARTIES There were no related paty transactions, other than those disdosed in note 10. 25