Charity registration number: 1044842
A G E Action for Gipton Elderly Trustees’ report and Financial Statements Year ended 31 March 2021
A G E Action for Gipton Elderly
Financial Statements
Year Ended 31 March 2021
| Contents | Page |
|---|---|
| Legal and administrative information | 1 |
| Trustees report | 2-4 |
| Auditors’ report to the trustees | 5-8 |
| Statement of Financial Activities | 9 |
| Balance Sheet | 10 |
| Notes to the Financial Statements | 11-15 |
A G E Action for Gipton Elderly
Legal and Administrative Information
Year ended 31 March 2021
| Charity registration number | 1044842 |
|---|---|
| Business address | 5-11 Oak Tree Drive |
| Leeds | |
| LS8 3LJ | |
| Trustees | S Fitzsimmons (Deceased 14thNovember 2020) |
| P Diamond Chairperson | |
| M Jackiw | |
| M Gunby | |
| T Howson Treasurer | |
| J Welsh | |
| K Fisher (Deceased 10thJuly 2021) | |
| C Bandawe | |
| Registered office | 5-11 Oak Tree Drive |
| Leeds | |
| LS8 3LJ | |
| Auditors | Bohorun & Co Ltd |
| 6 Howley Park Business Village | |
| Pullan Way | |
| Leeds | |
| LS27 0BZ | |
| Bankers | Lloyds Bank Plc |
| 391-393 Harehills Lane | |
| Leeds | |
| LS9 6AP |
Page 1
A G E Action for Gipton Elderly
Trustees’ Annual Report
Year ended 31 March 2021
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 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 published on 16 July 2014 (as amended by Update Bulletin 1 published on 2 February 2016).
Trustees of the charity
The trustees who have served during the year and since the year and up to the date of this report are set out on page 1.
Structure, governance and management
Investment Powers
The Constitution authorises members of the management committee to make and hold investments using the general funds of the charity, but no such investments are presently held.
Objectives and activities
Constitution, Objectives and policies
Action for Gipton Elderly is governed by constitution. Its objectives are to help provide for the relief of the elderly in the Gipton Neighbourhood of Leeds, the advancement of education of the elderly and the advancement of education of the public and the promotion of research concerning the needs of the elderly.
The day to day management for Action for Gipton Elderly is delegated to Karen Woloszczak, who is the Manager. Action for Gipton Elderly is a local charity serving local need and is registered to the Charity Commissions.
Our aims and objectives are:
To identify the vulnerable elderly people of Gipton and Harehills.
To provide advice and assistance to support their independent living within the community.
To combat fears of loneliness and lack of social contact
To raise the awareness of the problems faced by the elderly
To actively work to develop A.G.E as a local group serving local needs.
The committee is made up of local people, with a management structure including Chair, Vice Chair, Treasurer and secretary, all decisions are put to vote and agreed by all members of the management committee.
Our constitution provides for a maximum of fifteen members of the committee including the four office posts. We are also minded to include a local elected politician who are minded to have the elderly of Gipton and Harehills at heart. The Chair and Manager are constantly reviewing candidates with whom we meet within the caring community within Gipton and Harehills. We consider it wise to include as many people from varying professionals that can bring new ideas for consideration.
We are currently enjoying a progressive and settled management team who share many of the responsibilities via Sub Groups. Our main aim is to look for a harmonious and committed group to further our support for independence of the elderly we serve.
Public benefit
In settling our objectives and planning our activities the Trustees have given careful consideration to the Charity Commission’s general guidance on public benefit and in particular to its supplementary public benefit guidance on the advancement of health and saving of lives.
The framework within which Action for Gipton Elderly, has over the past 20 years, sought to identify and
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A G E Action for Gipton Elderly
Trustees’ Annual Report
Year ended 31 March 2021
respond to the problems of the elderly in Gipton and to translate its aims and objectives into reality has been:
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The acquisition of a property on lease from Leeds City Council and refurbished with money from the National Lottery Charities Board, to provide an excellent well-located centre. The centre has recently been refurbished and is used by various clubs and classes such as Stroke Group, Carers Group and lunch clubs.
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The appointment of 3 dedicated professional members of staff with money principally from the Local Authority, and various trust companies.
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The recruitment of more than 20 enthusiastic volunteers including a volunteer co-ordinator.
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The establishment of a strong locally-based management committee.
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The weaving together of a network of relevant statutory, voluntary and religious bodies.
Achievements and Performance
It is with great sadness that we report our founder Committee Member and Chair Mr Stan Fitzsimmons passed away in October 2020. We acknowledge his hard work and commitment in support of our charity over the last 27 years. Phil Diamond as Vice Chair is filling the role of Chair until the Election of Officers.
Due to the Covid 19 pandemic, 2020-2021 has be a strange and difficult year. We have adapted services to best support the elderly who have been isolating, whilst adhering to all government advice and rules. In the first 3 months, we implemented our emergency supply plan which made sure everyone had essential food and medicines, prioritise the most vulnerable and isolated and those most at risk, we provided over 280 food hampers and essential shopping and collected over 40 prescriptions.
Whilst our social centre has been closed for the whole year, I am delighted to report that we have provided over 1600 telephone befriending calls, responded to over 100 new referrals, delivered over 500 hot meals, 320 afternoon teas, delivered over 600 books, DVD's and jigsaws to help relive boredom of been instructed to stay at home. We have continually monitored our service users health and well-being, and adapted our services and support so nobody has felt alone
I would like to thank Karen and the staff for working tirelessly whist maintaining their own safety during this very demanding year
Future Plans
Due to the Covid 19 pandemic we will apply the direction and advice of Government to ensure all our service users are supported and safe in every possible way, that is a continuation of the work our manager and staff have been doing. We will continue to give the care and support that is required and take all appropriate action to continue to deliver all that our service users need to help them through the pandemic. We have developed new partnerships with health and primary care and we hope to build and develop new services by working closely together.
We look forward to the time we can welcome everyone back to our centre so that we can continue to build the friendships care and support they deserve.
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A G E Action for Gipton Elderly
Trustees’ Annual Report
Year ended 31 March 2021
Financial review
Accounts and Financial Review
Members of the Management Committee submit the audited financial statements for the year ended 31 March 2021. For the year to 31 March 2021, the statement of Financial Activities shows a surplus of £108,615 (2020: £65,849). The entire surplus of £108,615 consists of unrestricted funds. Unrestricted reserves to be carried forward to the next year are £337,690 (2020: £229,075).
Statement as to disclosure of information to auditors
In so far as the trustees are aware:
There is no relevant audit information of which the charity’s auditors are unaware; and
The trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
Statement of trustees’ responsibilities
The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements the trustees are required to:
Select suitable accounting policies and then apply them consistently;
Observe the methods and principles in the Charities SORP;
Make judgements and estimates that are reasonable and prudent;
State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with 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 and the Charity (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of the charity (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other
Auditors
Bohorun & Co Ltd have expressed their willingness to continue as auditors of A G E Action for Gipton Elderly.
On behalf of the board
………………………………………
Date: ……………………
P Diamond Chairperson
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A G E Action for Gipton Elderly
Independent Auditor’s report to the Trustee of A G E Action for Gipton Elderly. Year ended 31 March 2021
Opinion
We have audited the financial statements of A G E Action for Gipton Elderly (the ‘charity’) for the year ended 31 March 2021 which comprise Statement of Financial Activities, the Balance Sheet, and the related 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:
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give a true and fair view of the state of the charity’s affairs as at 31 March 2021, and of its incoming resources and application of resources, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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Have been prepared in accordance with the requirements of the Charities Act 2011.
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 FRC’s 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
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:
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the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
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the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charity’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the trustees’ 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.
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A G E Action for Gipton Elderly
Independent Auditor’s report to the Trustee of A G E Action for Gipton Elderly. Year ended 31 March 2021
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 to you if, in our opinion:
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the information given in the financial statements is inconsistent in any material respect with the trustees’ report; or
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sufficient accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records; or
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We have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the trustees’ responsibilities statement set out on page 4, the trustees are responsible for the preparation of financial statements which give a true and fair view, and for such internal control as the trustees 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 charity’s 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.
Auditor’s responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.
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 auditor’s 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 specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below.
Our approach to identifying and assessing the risks of material misstatement in respect of the irregularities, including fraud and non-compliance with laws and regulations, was as follows:
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the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
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we identified the laws and regulations applicable to the charity through discussions with trustees and other management, and from commercial knowledge and experience of the sector;
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we focused on specific laws and regulations in both the UK, which we considered may have a direct material effect on the financial statements or the operations of the charity, including the Charities Act 2011, data protection legislation, anti-bribery, employment, safeguarding principles, health and safety legislations;
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A G E Action for Gipton Elderly
Independent Auditor’s report to the Trustee of A G E Action for Gipton Elderly. Year ended 31 March 2021
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we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence;
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identified laws and regulations were communicated within the audit team and the team remained alert to instances of non-compliance throughout the audit;
We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
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making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
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considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override controls, we:
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performed analytical procedures to identify any unusual or unexpected relationships;
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tested journal entries to identify unusual transactions;
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assessed whether judgements and assumptions made in determining the accounting estimated set out in the accounting policies were indicative of potential bias; and
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used data analytics to investigate the rationale behind any significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures that included, but were not limited to:
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agreeing financial statement disclosures to underlying supporting documentation;
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reading the minutes of meetings of those charged with governance;
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enquiring of management as to actual and potential litigation and claims; and
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reviewing any available correspondence with HMRC and the company’s legal advisors.
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. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of noncompliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
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Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
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Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the charity’s internal control.
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Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.
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Conclude on the appropriateness of the trustees’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity’s ability to continue as a going concern. If we
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A G E Action for Gipton Elderly
Independent Auditor’s report to the Trustee of A G E Action for Gipton Elderly. Year ended 31 March 2021
conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charity to cease to continue as a going concern.
- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
Use of our report
This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees 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 and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
………………………………………….. Date: ………………………………
D Prakash Bohorun FCCA, FCMI, Senior Statutory Auditor Bohorun & Co Ltd Chartered Certified Accountants and Registered Auditors 6 Howley Park Business Village Pullan Way Leeds LS27 0BZ
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A G E Action for Gipton Elderly Statement of Financial Activities
Year Ended 31 March 2021
| Unrestricted funds Note £ Incoming resources: Incoming resources from generating funds: Voluntary income 2 242,844 Other income 3 5,058 Total incoming resources 247,902 Resources expended Charitable activities 4 134,584 Governance costs 6 4,703 Total resources expended Net incoming resources for the year 139,287 108,615 Total funds brought forward 229,075 Total funds carried forward 337,690 |
2021 Total £ 242,844 5,058 247,902 134,584 4,703 139,287 108,615 229,075 337,690 |
2020 Total £ 213,206 213,206 142,701 4,656 147,357 65,849 163,226 229,075 |
|---|---|---|
The statement of financial activities includes all gains and losses in the year and therefore a separate statement of total recognised gains and losses has not been prepared.
All of the above amounts relate to continuing activities.
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A G E Action for Gipton Elderly Balance sheet
As at 31 March 2021
| Notes Fixed assets Tangible assets 10 Current assets Cash at bank and in hand Creditors: amount falling due within one year 11 Net current assets Net assets 12 Funds Unrestricted income funds Total funds |
2021 £ 350,162 350,162 (13,245) |
£ 773 336,917 337,690 337,690 337,690 |
2020 £ 237,751 237,751 (8,884) |
£ 208 228,867 |
|---|---|---|---|---|
229,075 |
||||
229,075 |
||||
229,075 |
The financial statements were approved by the trustees on …………………. and signed on its behalf by
………………………………………………………..
P Diamond Chairperson
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A G E Action for Gipton Elderly
Notes to financial statements For the year ended 31 March 2021
Summary of significant accounting policies
1. Accounting policies
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding year.
1.1. Basis of accounting
The charity constitutes a public benefit entity as defined by FRS 102. 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) issued on 16 July 2014 (as updated through Update Bulletin I published on 2 February 2016), the Financial Reporting standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.
1.2. Cash flow
The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A.
1.3. Incoming resources
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable. Grants where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included.
Gifts donated for resale are included as incoming resources within activities for generating funds when they are sold.
Grants, including grants for the purchase of fixed assets, are recognised in full in the statement of financial activities in the year in which they are receivable.
1.4. Resources expended
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes including the charity’s shop.
Charitable expenditure compromises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management.
1.5. Research and development
Research expenditure is written off to the profit and loss account in the year in which it is incurred.
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A G E Action for Gipton Elderly
Notes to financial statements For the year ended 31 March 2021
1.6. Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Land and buildings – straight line over 5 years Plant and machinery – 20% straight line Fixtures, fittings and equipment – 20% straight line
1.7 Defined contribution pensions schemes
The pension costs charged in the financial statements represent the contribution payable by the charity during the year.
2. Voluntary income
| 3. Other incoming resources 4. Costs of charitable activities – by fund type 5. Costs of charitable activities – by activity Unrestricted Funds £ Donations 11,500 Lloyds Donation L.C.C Covid Grant 3,344 1,000 Leeds City Council 227,000 242,844 Unrestricted Funds £ Other income 5,058 5,058 Unrestricted Funds £ Action for Gipton Elderly 134,584 134,584 Activities undertaken directly £ Action for Gipton Elderly 134,584 134,584 |
2021 Total £ 11,500 3,344 1,000 227,000 242,844 2021 Total £ 5,058 5,058 2021 Total £ 134,584 134,584 2021 Total £ 134,584 134,584 |
2020 Total £ 13,691 - 199,515 213,206 2019 Total £ - - 2019 Total £ 142,701 142,701 2020 Total £ 142,701 142,701 |
|---|---|---|
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A G E Action for Gipton Elderly
Notes to financial statements For the year ended 31 March 2021
6. Governance costs
| 7. Analysis of support costs Unrestricted Funds £ Depreciation & impairment 270 Payroll admin costs 593 Auditor remuneration 3,840 4,703 Governance Costs £ Other establishment costs 593 Auditor’s remuneration 3,840 4,433 |
2021 Total £ 270 593 3,840 4,703 2021 Total £ 593 3,840 4,433 |
2020 Total £ 463 833 3,360 4,656 2020 Total £ 833 3,360 4,193 |
|---|---|---|
8. Staff costs and employee benefits
The average monthly number of employees and full time equivalent (FTE) during the year/period was as follows:
Direct Charitable work The total staff costs and employee benefits were as follows: Wages and salaries Social security costs Pension costs |
2021 Number 3 2021 £ 102,590 9,815 7,892 120,297 |
2020 Number 3 2020 £ 112,058 7,607 8,719 128,384 |
|---|---|---|
No employees received emoluments of more than £60,000 (2020: None)
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A G E Action for Gipton Elderly
Notes to financial statements For the year ended 31 March 2021
9. Pension Costs
The company operates a defined contribution pension scheme in respect of the people’s pension. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and was as follows.
| Pension Charge | 2021 £ 7,892 |
2020 £ 8,719 |
|---|---|---|
10. Tangible fixed assets
| Land and Buildings Freehold £ Plant and Machinery £ Fixtures, Fittings and Equipment £ Cost At 1 April 2020 Additions: 49,281 18 b,561 16,203 835 49,281 18,561 17,038 Depreciation At 1 April 2020 Charge for the year 49,281 - 18,561 - £15,995 270 At 31 March 2021 49,281 18,561 16,265 Net book values At 31 March 2021 - - 773 At 31 March 2020 - - 208 |
Total £ 84,045 835 84,880 £83,837 270 |
Total £ 84,045 835 84,880 |
|
|---|---|---|---|
| 84,107 | |||
773 |
|||
| 208 |
11. Creditors amounts falling due within one year
| Trade creditors Accruals and deferred income |
2021 £ - 13,245 13,245 |
2020 £ - 8,884 |
|---|---|---|
8,884 |
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A G E Action for Gipton Elderly
Notes to financial statements For the year ended 31 March 2021
12. Analysis of net assets between funds
| Unrestricted | Total | ||||
|---|---|---|---|---|---|
| Funds | Funds | ||||
| £ | £ | ||||
| Fund balances at 31 March 2021 as represented by: | |||||
| Tangible fixed assets | 773 | 773 | |||
| Current assets | 350,162 | 350,162 | |||
| Current liabilities | (13,245) | (13,245) | |||
| 337,690 | 337,690 | ||||
| 13. Unrestricted funds | |||||
| Balance at | Balance at | ||||
| 1 April | Incoming | Outgoing | 31 March | ||
| 2020 | Resources | Resources | 2021 | ||
| £ | £ | £ | £ | ||
| General funds | 176,104 | 247,902 | (139,287) | 284,719 | |
| Designated funds | 52,971 | - | - | 52,971 | |
| 229,075 | 247,902 | (139,287) | 337,690 |
Purposes of unrestricted funds
Unrestricted funds are available for use at the discretion of Management Committee in furtherance of the general objectives of the charity.
Designated funds are unrestricted funds earmarked by the Management committee to cover any future deficiency in funding of the charity and specifically to cover an average of 3 months organisational core operating costs.
14. Related party transactions
There are no related party transactions during the year (2020: £ nil).
15. Going concern
The financial statements have been prepared on the basis that the charity can continue to operate as a going concern 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 and are of the opinion that the charity has adequate working capital to continue its operations over the next 12 months. This conclusion was made having considered the impact of the worldwide Covid-19 pandemic on future operations and available funding. The trustees, therefore, have made an informed judgement, at the time of approving the financial statements, that there is a reasonable expectation that the charity has adequate resources.
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