Company Number: 03132542 Registered Charity Number: 1052036 Com an uara te DITED TR ND FINAN IAL TATF.MENTS
HI KENT A Con) Limited uarantee FINAN IAL STATEMF.NT THE YEAR NDED 31 MARCH 2024 Patron: Rt. Hon. Ann Widdecombe Chief Operating Officer: Maxine Lucas Trustees: Clive Reddihough (Chainnan) Caroline Elizabetli Highivood (Treasiirer) Palrick Todd Mary Shaw James Ilansom Company Registered Number: 03132542 Charity Registered Number: 1052036 Company Secretary Maxine I,ucas Head Office and Registered Office: 18 BrLNver Streel Maidstoiie Keiit ME14 IRU Independent Auditors: Charcroft Bak"er l.l.P 5 Wesl Court F.nterprise Road Maidslone Kent ME156JD Bankers: CAF Bank Ltd 25 Kings Hill Aveniie Kings Hil I West Malling Kent ME19 4JQ Solicitors: Warners Solicitors 180 High Street Tonbridge Kent TN9 IBD
HI KElYt Acom Limit d uarantee TATEMENT Page Report of the Trustees 7- 10 Report of the Auditors Statement ot'Financial Activities 12 Balancc Sheet 13 Statement of Cashflows 14- 16 Accoiinting Policies Statement 17-25 Notes to the F inanLial Statenients
HI KENT TH THE YE DE H 2024 The Trustees (Nvho are also directors of Hi Kent for purpose of company lalv) presenl herelvith their Annu<il Report and the financial slalements for the year ended 31 March 2024 Legal and Administrative Details The charity is a company limited by guarantee (company nutnber 03 132542, registered charity number 1052036). The charity is governed by the MemorandLim & Articles of Ihe company dated 21 November 1995. The Trustees, Nvho comprise the Management Conin]ittee of the charity, are responsible for governance of the charity in accordance with the governing dociiment. with day-to- day managemenl delegatcd to the Chief Operating Officer. Priniipal Activities and Policy Statement Eli Kent's ainis and objeLtives are to provide d/Deaf, deafened, and peoplc wilh hearing loss ivith information, assistive equipment and Support reqliired to maximise communication and enable thcm to live fulfil led lives socially and in employment. In line with these core values the principal activities of the company continue to be the assessment of the nLLds of people iviih a hearing loss on behalf of" Kent County Council, and thc provision of relevai)t advice, cqiiipmenl services and support. Oiir support activilies also include free lipreadingry c lasses, social groups, tinnilus support groLlPS, Lommlinity clinics for hearing aid niainteiidnce, deat- aivareness c lasses, British Sign LangLiagye courses and SLiilable premises whcre equipment C<in be demonstrated io Llients. We also provide a Technology Support sLrvice to help peoplc a¢cess the giadgets and technology availablc to help them with hearing loss. We added E¢ir Care to our range ofservices during the yLar to help people io access loNv cost ear checks and ivilx removal via IniLrosuction. Hi Kent's objectivcs and activitie.s are solely for thL bLiictit ot" the public. ThL TrusteLS of Ht Kent have had due rcgiard to ILiidanLc piiblished by the Charity Commi%sion. According to the RNII) one in three adults in the IJK are deaf, have heariiig loss or linnilus. Over half of the popiilation aged 5 5 or more will have hedring loss and ihis rises to 80 % of people ovcr thL' age of 70. With a groiving population in Kent, particularly in older people, thL need for Hi Kent'.$ services increases year on year. Hearing loss can add to or ivorsen depression and dementia so ils effects Lan have far reaching consequences. Looking after your hearing is therefore very important and will help to mitigate these risks. Review of the Year It ivas oiir third vear of the Kent Coiinty Council Wellbeing Contract in which we are sub- Lontracted to Kcnt Association of the Blind. We help aroLind 8,000 people from the Kent County Council area per year through this work by providing infonnation, adviLe, asscssment of needs and provision of equipment. Our cominunity cliniLs ivhich provide NHS hearing aid maintenance are getting back to pre-covid Pdndemic levels, in 2023-2024 we saw nearly 24,000 people. Our Social Groups project has been given a lifeline by the National Lottery Community Fund awarding us a i year grant. The firsi half year funding is included in the accounts to 31, March 2024. '1-his will Lnable us to reach neiv iireas as well as providing stability forthe exisling groups. Our Lipreadingy courses and Tinnitus suppori groups conlinucd lo be offered tree of Lhar¥e helping people to cope ivith the issues they face dnd learn strategies to make their lives better. Becaiise of the difticulties people face accessing ii'ax removal from their healthcare providers Iwe trained up a member of staLTto provide a loiv cost Ear Care Service and increase the range of services Kve can otyer. Our British Si(yn Languaoe Courses, Deaf AlarenesS Trainingy and sale of assistive equipment have all brought in funds to help us to provide the other services free of charge to those that need them.
HI KENT REP RT THF. TR STEE ntinued E YEAR ENDED 31 MARCH 2024 We could not have managed to gct through the year with a manageable deficit without the man), grant applications that we make throughoiit the year resulting in some of them bcing aivarded and the generous donations we have receivd. Our Fundraising activli i¢s continue to bring in much needed funds with our quizzes, fundraising meals and Christmas sales being as popular as ever. Financial Statu5 The steps taken in planning Ihe budgLt for 2024 have helped to Lontinue the financial health of the organizalion, The actual revLnue for 2024 was £563,Oi? (2023 was £580,008). a decrease of £16,9i6. On the cost control side, expenditures Nvere £580,052 (2023 ivas £621,580) whiLh is a decrease of £41,528 in costs. The net movem¢nt in funds ivas thcrLfore a £17,000 deficit (2023 w&$ a £41,572 defiLit), which is as bLidgcted, Reserves Policy Total funds of the Charity al 31 March 2024 ivere £180,455 (2023., £197,455). Free reqcrves, alLLilatcd as bcing reserves aftcr thc rcmoval ot. restricted tunds, desig7n<ttLd fiinds and tangible tixcd asscts, held at 3 l March 2024 werc £137,892 (2023: £166,862). It is held in a mixture of fixed tcmi deposits, bonds Lind opcn iiLcess interest bearingy account% intended to maximisc investment returns whilst not impairing liquidity. 'I"his position may fliictiiatc temporarily during the year as it smooths operational costs. It Is OLir longer t¢rm aim to maintain rescrves at thc cqiiivalent of betivLYn four to six months, operational costs, as a contingency io cnable us to honour al I contractual obligations. A8sociations with Organisations We continue to work Llosely Nvith I"he Kenl Association for the Blind under the Kent Coiinty Council Community Wellbeing Services contract. We Lollect dltailed statistics Nvhich are reported quartcrly. We a150 receivc finanLial support from NHS Kent and Medway CCG Nvhich go towards providing liearing aid maintenance serviccs throughout the county. We were very pleased to have been graiited five year funding by the National Loltcry Commiinity Fund ivhich giives stability to our Social Group projeLt. We receive fiinding from many local org£inizations and businesses which are all gratefully received. We have also continued to provide British Sign Language Lourscs linder Contract for Kent AdLIIt Education. Our relationships ivilh all these organisations underpin our Kwork aT]d are of enormoiis benefit to our cl ients. Wc have established ivorking relationships with several private hearing aid providers supporting them to provide NHS services or services siich as vax removal ivhich is not readily available via the NHS. We arc gratcfiil for the ongoing siipport of Tinnitus IJK who provide infonnation, training and publicity of our support groups. Hi Kent ontinues to Chair the Kent Charities Group which involves joinl ivorking ivith several other local harities in the County. Corporate Risk Assessment The Management Commirtee have condiicted a revieiv of the major risks to iTrhich the charity is exposed. Where appropriate, systems or proeediires have been established to mitigate the risks the Lharity faces. Hi Kent operates buduet control procedLires and forn]al reports are provided tc) the Mana(7cment Committee at its bi-nionthlN"' meetiniTrS. Progres% ot"£tctual vs. budget fundinJis spending and cash t101 aiialysis are kept under Llose revieNv. Internal Lontrol risks dr¢ minimised by the stringent application of procedures for authorisation of all transactions and projects. Hi Kent operates its oivn qiiality system based on the principles of the ISO 9001-?O l i standard.
HIKE EP RT OF THE TR ES ntinued R THE YFARENDED 31 M 24 Procedures are in place to: a) ensure compliance with health and Sdfety of staff, volunteers, clients and visitors to all HA Kent premises and when ujiderlaking work on behalf of Fli Kent at other IoLations- b) ensurc that all neLessary policies are in place and reviewed at appropriale intervals, including, inter alia, environmental issues, adiili protection, ddta protection, etc; c) ensure security of tenure in respect of premises occupied under long-tenn leases. d) recruit, retain and develop staff e) ensure compliance ivith all relevant legislation. These proccdiires are regularly reviewed to ensure that they continue to meet the needs of the charity, and all policies and procedures are examined rigorously as part of the annual quality proccdure. Methods Adopted for Recrultmeiit and Appointment of new Trustees Hi Kent appoiiils 'fil and propcr persons, to scrvL' as its Trustees and ensiires its Board is balanced Iviih d ide range ot. skil Is. As far &iS is possible Hi Kent aims to have diversity in its Trustees in tenn5 of breadth of skills, age, gender, race aiid backyound, as well as personal experiincL or IindLrstanding of hLaring loss and the needs of our client group. Induetinn of Trustees Potcntldl new TrLlStces are provided wilh briefing material by tlie Chainnan and the Chief Opcraling ()fticer then invited to attend one or mor¢ TrLlStees' Meetings as observers before a decision is taken to appoint them as Trustee. They also rcceivL copies of recent accounls, annual revieivs, Memorandum and Articles of Association. Employee Remuneration Th¢ remLineration of key employees is sei by the Trustees. ALknowledgements We are indebted to our many voluiiteers ivho providc NHS hearing aid maintenance service in their loLal LommLinitics and thosc who help tu run our IietiTrork of Social (ifoLlPS. 'll]e monetary value of the contribution these voliintLers make is around £80,000 per year, Ive could not do the vvork Ivithout them. We again appreciate the support of staff in I,ocal Authorities and NHS bodies ivliich enables us to develop service provision for our mutual clients. We are also grateftil for the help and siipport of Kent Association for the Bliiid over this Ihlrd year of the contract and we look forNvard lo continuing to build this relatioiiship. We are very ¥ratefiil to have again been inviled lo join Kent As%oL icTrtion for the Blind on their Iris Bus visiting IoLations and informing people on services available and look forivard to attending their Sight Matt¢rs exhibitioii in Maidston¢ October 2024. Hi Kent gratefully acknoivledges the generous dottations of those funding bodies ivhich have <iivarded grants this year. The siipport of the many local organisations who help us provide our %etviLes and raise funds via fundraising events is very much apprLciated. We also give grateful thdnks lo the numerous individuals iiho ¢ontributc regularly to our ivork on bLhalf of K¢nt's 530,000 pliis people Nvith a hearing loss.
RT OF THE RUSTEES Continued Future Plans Our ongoing aim is to help more of Kent's 530,000 d/Deaf and hard of hearing people year on year. The Community Wellbeing Contract has continued into year 4 ivhich is ihe firsl of the additional tivo years. Wc Nvill work hard to ensurc that this continues into the final year and co-operate with Kent Association for the Blind in future contract negotiations. We are very grateful for the National Lottery Community Fund grant for our Social Groups project. Il means we can make plans for the next few years and build on the success we have started. I"he groiips get people together to make new fviends and receive the SLlPPOrt to help them to Ilve w'ell ith hearing loss. The National Lottery Community Fund has also provided a one year grant to¥vards our Lipreading courses for 2024-2025 NvhiLh again is gratefLilly received. We are continuing to grow our Ear Care service after a very good start. The service was only being offered from our CanterbLlry ccntrc but from September 2024 we are expanding this lo our Maidstone ccntre too. We have received some wonderful feedback from people who have accesscd Ihe servicc dnd are very pleased that it is hclping7 them to get their hearing issues resolved. For the Year Ending 31 MarLh 2025 The Community Wellbeingi Contract will be in the first of the additional two years and we are hopetul Nvill continue inlo the l<iSt year. We coiitiniic to offer a good qual ity service helpingJ around 8,000 people and providing assessment ot. needs, wherc appropi'iilte, resultingy in advicL or L'ciuipment free of cliarLFL to help them to live safely and independently. We have a fully costcd budgyet for 2024-2025 ivhiLh provides for a small, man<igyeable deticit. We hope that ive can rLdiice the umount of this deficit to a bre¢ik-eveii result, it. possible. We are sLaling up e fforts to boost activities that briiigy iii funds as well as continuing lo make savings on general costs. We track. progress of grant funding and ndraising ivith internal funding mcL'tings monthly. Our trustees are goingy above and beyond to help iising their areas of expertise and we havc added trustees planning meetings as well as the usual bi-monlhly trustees meetings so we cdn keep up the impetiis. We are very fortunate to have recruited three new trustees (co-opted until AGM in Noveinber 2024) all with lived experience of h¢aring105s and Ihey are a very welcome addition to the leam. Our Brilish Sign Language courses coiitinue to be offered in partnership ivith Kent Adult Education vhich enables us to offer a%si.qtance to people on benefits or low income. We have recruited some ne BSI, tutors across Kent for the 2024-2025 academic year so Nve have a bit more flexibility to sLt lip courses in different localions. Tinnittis Support Groiips continue to be offered as face to face in varioiis locations and online. l-liese provide a place ivhere people Can meet others Nvith the condition to share coping strategies and hear the latcst advice. Our Lipreading Courses are all online and fully subscribed for the next academic year 2024-202) vith a iwiliting list. We have been vcry fortunate in receiving a National Lottery Community Fund orant for this next year ivhich ivill enable us to continue to offer this free of charge. We are real ly concentrating on iising social media platfonns to gel alvareness of our services oiit to the people of Kent. We do not iiai)t people to Ix" striiggling ivhen ive are there to support them. WL iwill continue to use LhL regul(Ir advertising platforms suLh ils local neivspapers and magazines, Using free advertising so Ive save our precioiis lunds for delivering services. We ivill continue to lake every opportiinitv available to lis to speak to groLlPS about hat Nve do to spread the ivord.
HI KENT Acom PACE Limi b Guarantee As always Nve Nvill be doing our best to generate income from our fiindraising quizzes and other activities to help fund our services. Fundraising Activities We have continiied ivith our programme of quizzes ivhich generate a good level of income and give everyone a great time. We have our regular fundraising meal in a local restaurant ivhich is another greal ivay of raising tunds. Christmas sales ivere doivn on the previous year but Nve are working on ways to make this better in the future. Income from donations and fundraising was £61,348 for 2024 (£67,205 for 2023) so down on 2023 levels. 2023 ivas inflated by £10,000 by a donation in kind which has not been repeated so in real tenns donations and fundraising is up for 2024. The kent Charities Group Christmas Raffle tickets had record sales at £3,447 for 2024 which is ncarly £500 more ihan 2023. The Hi Kent lottcry brougyhi in nearly £1,200 (£900..2023) and we are actively advertising this to help grow it further. We continue to look for neiv and innovative Nvays of raising our oivn nds. We maintain our policy of not iising any professional fiindraisers or commerLial participators. The charity is fully compliant with the GDPR regulations and does not make any direLI approaches to vulnerable pcople or members of ihe public iisingy intrusive or unre¢lsonable methods. The Lharity has reLeived no Lomplaints about its fundraising activities. Hi Kent is reg?islerL'd ivith the Fundraisingy Regulator. Hi Kent continues to rely heavily on its leam of 85 volunteers, the majority of whom are deployed on runningi oiir hearing aid support clinics, after r¥Leiving necessary iraining. A feiv voliinteers also help ruli our Social Groups and help out at ocLasional tundraising events. All are requircd to undergo a l)B% cheLk IK'fore aLtingF on oiir behalf. Tru.8tees during ihe year l-he trustees of the charity who served during the year were as folloivs: Clive Reddihough Caroline Highwood Patrick Todd Mary ShaNV Dcrck Smyth (deceased 3, October 2023) th Alan Wesl (deLeased 2) Mdy 2023) James Ransom Investment Powers Da)'_to-day funds management decisions in the current accoiint rested i1th the Chief Operating ()fficer, pursu(Illt to policies iLpproved by the triistees and members of the Management Committee. Long-tenT] investment decisions ar¢ siibjLCt to Board revie1. There are no restriLtions in the Memorandum aiid Articles of Association on the type of investments permitted. Auditors Charcroft Bak'er LLP ivere re-appointed as auditor8 at the 2023 Anniial General Meetin resolution proposing tlial Henry Reeves & Co Limited, Ihe siiccessor Company of Charcrofi Baker LLP, be re-appointed as aiiditors of the Charity ivill be put to the 2024 Annual Gencral Meeting. Statement of Trustees, Responsibilities l-hL -friistees ic re responsible for preparing the Trustees, Report and the financial statements in aLeordance I1th applicable laiv and United kingdom Accounting Standards (United Klngdom Generally Acc¢pted Accounting Practice).
HI KENT Acom EP F THE TRU Statement of Trustees, Responsibilities - continued Company laiv requires the trustees, lo prepare financial statements tor each fmancial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resoiirces and application of resources, including the income and expenditure, of the charitable company for the year. In preparing these financial statements, the trustees are required to: select suitable accouiiting policies and then apply them consistently. observe the methods and prinLiples in the Charities SOF. make judgements and estimates that are reasonable and prudent. state ivhether applicable UK Accounting Standards have been followed, subject to material departures disclosed and explained in the fancial staiements; preparc the financial statements on the going concern basis unless it is inappropriate to presume that the charitable ¢oinpany will continue in oper<ition. The truslees arL responsible tor keeping proper accounting records thai disclose with reasonable aLcuracy al any time the tinancial position of the cliaritable company and enablc them lo ensure that ihe financial slalemenls Lomply with the Conipanies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable step% for the prevention and detection of fraLid and other irregul(irities. Disclosure For Infi)rmation To Auditor Each of the pcrsons ivho arc trustees at the time Nvhen this Trustees, report is approved has Lonfirmcd that: so far as that Trustees is aware, there is no relevant aLidit infomialion of whiLh the charilable company'% auditor is unaNv£ire' and that Trustees have taken all the steps that they ought to havc taken as a I'rustee in order to be aivare of any Iclcvant audit inforniation and to establish that the charitable company's auditor is aware of ihat infonnation. This report was approved by the Trustees. on 11- 1( 4 and signed on their behaifby: CF,Hi hii'ood Ter
HI KENT an Limited b Gua FOR THE YEAR ENDED 31 MAR H 2024 Opinion We have audited the fLnancial statements of Hi Kent (Ihe '"charitable Lompany") for the year ended 31 March 2024 whiLh Comprise of a Statement of Financial Aclivities, Balance Sheet, Stat¢Tnent of Cashflows and notes to tl)e financial statemenls, including significant accounting policies. The financial reporting framework that has been applied in thLir preparation is applicable laNv and United Kingdom AccoLinting Slandards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accountingl Practice). In our opinion, the financial statements: give a true and fair viLiv of the state of the C.harity's affairs as at 31 March 2024 aiid of its incoming resources and applicalion of resources for the year then ended: have been properly prepared in accordance Nvith United Kingdom Generally Accepted Alcounting PraLtice' and have been prepared in accordance Nvith the reqiiirements of the Companies Act 2006. Basis for opinion We Londucted oiir audit in accordance iviih IntLrnational Standards oli Auditing (IJK) (ISAS (UK)) and applicable law. Our responsibilities under ihose standards are further dcsLribed in the Auditor's responsibilities for tlie aud it of thL tiiiancial sl<itemeiits section ot- our report. We are independent of- the Charity in a¢cordanLe ivith the ethical reqiiirements that are relevant to our audil of the financial .stdtements iii tlie UK, includingF the FRC'S Ethical Standard and wc htive fulfilled our other ethical responsibilities in accordance ¥vith these requirements. We believe that the audil evidence we have obtained is sufficient and appropriate to provide d basis for our opinion. Conclusion.$ relating to going concern In auditingy the financial statements, Ive have conLliided that the trust¢C's usc of the going concern basis ot"a¢counting in the preparation of the financial slatements is appropriELte. Based on the ivork we havc perfonned, we have not identified ally material uncertainties relating to evcnts or Londitions that, individually or collecÉively.. niay c&%t signifiuant duubt on the entity's ability lo ontinue as a going concern for a period of at least 12 months from ivhen the financial slatements are authorised for issue. Our responsibililies and the responsibilities of the trustees ivith respeLI to going coiicern are described in thL relevant seclions of this report. Other information The Trustees dre responsible for the other infonnation. The other infomiation compri.%es the information iniludLd in thL annual report other tlian the financial statLments and our auditor's report thereon. Our opinion on the financial statements does not cover the other infomiation and, except to the extenl otherivise explicitly slated in our report, Ive do not express any form of assiirance conclusion thereon. In connection with oiir audit of the financial statemeiits, oiir responsibilitv is lo read the other information d, in doiniF so; consider Vvhether the other information is materially inconsislent iiith the financial statements or oiir knoivledge obtained in the audit or otherwise appears to be materially misstated. If ive identify such material this gives rise to a material misslatement in the fiiiaiicial statements themselves. If, based on the ivork ive have pert"ortned. we conclude that there is a material misstatement of this other information, e are required to report thai fact. We have nothin(y to report in this regard.
KENT
INDEPENDENT A
DITOR'S REPOR
Matters on which we are required to report by exception
In ihe light of the knoNvledge and understanding of the company and its environment obtained
during the audil, we have not identifiLd material misst<ltetD¢nls in the dircctors, report included
ithin the trustees, report.
We have nothlng to report in respect of the following matters An relation to which the Charities Act
2011 requires us to report to you if, in our opinion..
adeqLiate and proper accounting records have not bcen kept, or reluriis adequatc for our
audit have not beLn received from branLh¢s not visited by us. or
thL financial statements are not in agrecment with the accounting records and returns. or
certain disclosiire% of trustees, remuneration specified by law are not made; or
ve havc not received all the infonnation and explanations we requirc for the audit.
Ilesponsibilities of the trustees
As explained morc fully in thc Trustees, responsibil itics stalemenl, the trustces (Nvho arc also ihe
direclors ot" the charitablc company for the purpose of company laiv) are rcsponsible for the
preparation of thc finanLial statLmcnts and for being} %atisfied ihai they give a triie and t(iir vieiv,
and for such internal Lontrol as they determine is iiecessary to ¢nable the preparation ot finiinLial
statements that aTe free from material misstatement, Ivhether due to fraud or error.
In prep
HI KENT PA TOTHE TR TEE HI KENT HE YF.AR ENDED H 2024 Identifying and assessing potential risks related to irregularitles In identifying and assessing risks of material misstatement in respect of irregularities, incliiding fraud and non-compliance with laws and regulations, we considLrcd the following- the nature of the charity's activities and sector, control environmeDt and perfonnance including the design of the remuneration policies. key drivers for remuneration, bonus levels and perfonnance targets; resiilis of oiir enquirics of managetnent about thetr own identification and &sscssment of the risks of irrcgularities; any matters Ive identified having enquircd into the policies and procedures relating to: identifying, evaluating and complying ivith laivs and regulations and ivhcther they were aiiare of any instancls of non-compliance; detecting and re.spondin8 to the risks of fraud aiid whether they have knoNvledge of any acttial, %Lispected or alleged fraud. the internal controls establi.%hcd to mitigate risks of fraud 01 non-compliance with laws and regLilalions' the matters dis¢Lissed among the audit engagyemeiit team regyarding hoiv and ivherL traud niight occur in the financial stateincnts and any potential indiL<itors of fraLId. As <1 result of these procedLires, Ive considered the opportunities and incentives thal may exist viih in the organisation for traiid and identiticd the greatest potential for fraud ivas in relation to reveniie recognition, cash collections and safeguarding of assets. We are also reqiiired to perform specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory frameworks that the charity operates in, focusing on provisions of those laivs dnd regiilations thai had a direct effect on the d¢t¢miination of matLrial atnounts and disclosurgs in the financial statements. 'fhe key laivs and regiilations we LonsidLred in this context included FRS102 Section l A, the UK Companics Act 2006, the Charities Act 201 I, the Ch(Irities SOEiP (F"RS 102) and local tax legislation. In addition, kve considcrcd provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance ivith which may be fiindamental to the charity's abi liti, to operate or to avoid a material penalty. Audit response to risks identified A% a resiilt of perfonning the above, Nve identified reveniic recognition as a key audit matter related io the potential risk ol irregularity including fraud. We assessed the Charity's policy t.or deferring revenlie: inclliding considering Ihether the polic). is in accordance ith Charity SORP. We siibstantively testcd the source data and challenged assumptions used to reeognise revenue ensurino consistenl treatment. We are satisfied th<lt tlie judTrements applied NvithiD ihe tinancial statements are appropriate.
HI KENT PAGE 10 om Limited b Gu TO THE TRU TEE FHI FOR HE YEAR ENDED 31 MARCH 2024 Our procedures to respond to risks identified included the folloiving- revieNvingy the financial statement dis¢losLires and iesling to supporting doLuinentalion to assess compliance iviih provisions ot-relevant laivs and regulations described as having a direcl eff¢Lt on the tinanc ial statements. cnquiring of management concernin¥ tlLtual and potential litigation and claims. performing analytical procedures to ideiitify any unusual or unexpected relationships thal may indicate risks of material ni isstatement due to fraiid; revieNving minutes ot- meetingFS of ihose charged ivith governance. and in addressingy the risk of fraud througyh ITJanagFcmcnt override of controls, testing the appropriateness of joiirnal enlries and other adjustments. assessingy wheiher the judgjements made in makingy accounting estimates arc iiidicativc of a potential bias. and evaluating the business rationale of any siginifioant Iransactions that are unusual or outside the nonnal course of business. We also communicated relevant identitied laws and regpulations and potential fraud risks to all engagement team illembers c1nd remain¢d alert to any indiLation5 of fraud or noncompliance with laivs and regulations throughout the audit. A turther description of oiir responsibilities for Ihe audit of the financial statements is located on the FinanLial Rcporting Louiicil's wcbsile at.. lviviv.frc.org.uklauditorsresponsibi lities. This description tomis part of our Auditors report. Charcroft Bakcr LLP is eligyible for appointment as aLiditor of the Lliarildble Lompany by virtiic of its cligiibility for appointmenl as auditor OF a cotnpany under seltion 1212 of thL Companies ALt 2006. Use of our report This report is made solely to thc charitable company's truslees, as a body, in accordance ivith part 4 of the CharitiLS (Accounts and Rcports) Ilegiilations 2008. Oiir aiidit ivork has bLen undcrtaken so that we might slate to tlie charitdble conipany's truqtees those illatters ifve are required to stale to them in an Auditor's report and for no other Plirpose. To the fiillest extent perniittcd by law, we do nol aLCCPt or &ssume responsibility to anyone other than the charitiible Lompany's and its trustees, as a body, for our audit ivork, for this report, or for the opinions have tomied. Michael Baker BA FCA (Senior Statutory Auditor) For and on behalf of Charcrofl Baker LLP 5 West Court Enlerprise Ro<id Maidstone ME15 6JD Date: 2Lk CharLroft B(ik'er LLP is eljcJible to act as an auditor in lerms ot" section 1212 of the Companies Acl ?006.
HI KENT FOR HE YEAR ENDED 31 ARCH 202 2024 Total Funds 2023 Total Funds Unrestricled Rl'slricted Funds Funds Notes INCOMINC RESOURCES Incoming resources from generated funds: Volunlary inLume.' Membership subscriptions Donations & fund raising Legacies Inv&slmenls'. Bank interest received Bank investmcnt l)ond movcment 4 Incoming resources from charitable activiti. Grants Contract incom¢ Sules & installation of aids Deaf awareness & Sign Languag7e Lourses F.ar Care ServiLes 90 61,348 90 61,348 120 67,205 1,175 1,175 821 (1,477) 26,050 2)5,000 22,159 142,928 168,978 255,000 22,159 173,671 264,500 28,720 48,582 5,720 48,58? 5,720 46,448 TOTAL INCOMING RESOURCES 420,124 142,928 563,052 580,008 RF.SOURCES FXPENDED Costs of generating funds: Costs ot. generating voluntary income Charitable activities Governance costs 8,455 437,9)5 6,044 8,455 565,553 6,044 9.652 606.145 5.783 127,598 TOTAL RF.SOURCES EXPENDED 452,454 127,i98 580,052 621,580 NET MOVEMENT IN FUNDS {32,330} 15,330 (17,000) (41,572) RECONCILIATION OF FUNDS Total funds brought forniard 191,021 6.434 197,455 239,027 Total funds carried t"orivard li8.691 21,764 180,455 197,4)5 The Statement of Financial Activities incorporates the Income and Expenditure Accoiint. The results for the year derive from conlinuing activities and there are no gains and losses oiher than those shoivn above.
an ' Limite NCE HE ant BAL 24 Notes 2024 2023 FIXED ASSETS Tangible Assets 20,799 24.159 CURRENT ASSETS Stock Debtors Prepayments & accrued income Cash at Bank & in Hand 13,161 33,896 19,296 o? 215,374 13,667 28,358 19.924 10 10 233,105 CRF.DITORS Creditors AccrLials and deferred income (21,710) (19,516) NET CURRENT ASSETS 159,656 173,296 NET ASSETS INCOMF. FUNI)S RestriLted funds Unrestricled fijnds 16 16 21,764 158691 6,434 191021 l9 455 The Trustees have elected for the financial statements to be audited in accordance Nvith scction 144 of the CharitiLs ALt 2011 and report in accordance Nvith regulations made under section 154 ot'that Acl. The company is entitled to exemption from audit Linder Section 477 of the Companies Act 2006 for the year ended 31 March 2024. 'I"he trusteess havL not required the company to obtain an audit of its financial statements for ihe year ended 31 MarLh 2024 in accordance with Section 476 of the Companies Acl 2006. The trustees acknoivledge their responsibil ities for: (a) ensuring thal the company keeps a¢¢ounting records which comply wilh Sections 386 and 387 of the Companies Act 2006 and Ib) preparing financial statements ivhich give a true and fair vieiv of the state of affairs of the company as at the cnd of each financial year and of its profit or loss for each financial year in acLordance vvith the requirLments of Sections 394 and 39) and whiLh otherNvis¢ comply ivith the reqiiirements of the Companies Act 2006 relating to finanLial statements, 50 far as applicable to the company. These accoLints have bLLn preparLd in accordance ivith the provisions applicable to Lompanies subject to the small companies, regime. i.[.. i ! . .Z*..and signed on its behalf by: Ap roved by the trustees on vood Treasurer
HI KENT an Limited b , Guarantee STATEMENT OF CASHFLOW. 2024 Cash floivs from operating activities: Net cash provided by (used in) operating activilies.. Divid¢nds, intcrest and renls trom investments Proceeds from the Sale of property, plant and equipment Purchase of property, planl and equipment Proceeds from sale of invcstmenls PurLhase of investments Net cash provided by (used in) investing activitics 1.3,0?31 1,175 16)6) (2,166) {1.699) 991 Cash floivs from financing activities: Repaymenls of borrowing Lash inflows from new bOoNvIng Receipt of endowment Net cash provided (used in) financing activities L'.hange in cash and cash equivalents in the reporting period Lash and Lash CqLiivalents at the beginning ot the reporti ng period ChangL in cash and casli equivalents due to exchangyc rate movements Lash and cash eqLiivalents at the end of the reporting period (22,135) 171,156 (15,378) 186,533 149,021 171155 Reconciliation of net income / cx enditure to net Lash flow from o eratin 2024 activities: 2023 Net income / (expenditure) for the reporting period (as per SOFA) Adjustment for: Depreci<ition charges Dividends, interest and rents from investments Loss l (Protit) on the sale of fixed assets (Increase) / decreasc in stocks (Increase) / decrease in debtors Increase l (decrease) in Lreditors Net cash provided by (used in) operating activities (17,000) (41,572) 5,526 (1,175) 3.974 656 506 (4,910) 4.091) (21,144) I,352 16,050 (13,023) Anal sis of chan es in Net Debt at 01104123 Cash F loiv at 31103124 Net Cash Cash at bank and in hand 171,li6 (22,135) 149.021 171.li6 22.135 149021
HI KENT Acom NTING P CIES STA ENT I. ACCOUNTING POLICIES Statutory Information Ill Kent is a private company, limited by guarantee, r¢gistered in England and Wales. The liability of each member in the event of a winding up is £1. The ¢ompany"'s registered number and registered office address can be found on the company infonnation page. Basis of Preparation ThL financial statetnents of the charitable company have been prepared under the historical cost convention, in aCCorlnCe with the Financial lieporting Slandard applicable in the United Kingidom and RepLiblic of Ireland (FRS 102 section IA), the Charities SORP (I."RS 102) 'Accounting and Reporting By Charities.. Statement of Recommended Praclice applicable in the UK and Republic of Ireland (FRS I02) (effective l January 2015) and ihe Companies Act 2006. There werL no malerial departiires from ihose standards. Hi kent mLLt the defin ition of a public benefit entity Linder FRS 102. Assels and liabilities arc initially recognised at historical costs or transaction value unless otherwise slatcd in the relevant accounting policy. Thc Lompany's functional and presentation currency is GBP. Fund Accounting RestriLted fiinds are funds subjcct to specific purposcs which may only be expended in accordanLe with the conditions imposed by thL trustees. Unrestricted funds are fijnds which are expended at the discretion of the trustees in furtherance of the objectives of the charitable company. d) Going concern At the tinie of approving the financial statenienls the truslees are confident Ihat the cliaritable company has adequale resoLirces and has laken appropriate measures to continiie in OPLrational existenLe for the foreseeable future. The trustces therefore deem it appropriate to prepare the fu)ancial slatements on a going ¢onLem basis. Recognition of Income InLome is re¢ognised at fair value, derived from ordiDary activities and net of sales laxes and any trad¢ discounts. Income is included in thL Statement of Financial Activities Nvlien the Lharitable companv becomes entitled to the resource, it is more likel J. than not that the triistees ifv'ill receive the resources and the monetary value can be m¢asiired Nvith sutTicienl reliability. Income is recognised in respect of the folloiTr ing soiirces: i) Grants Income from ITovernment and other grants are reco(ynised iising the pertormance model.
I KENT R THEY R ENDED 31 MARCH 2024 Grants are recognised when the charity has entitlement to the funds and Nvhen any perfom]ance conditions attached to the grants have been met. Grants recèived before the revenue recognition criteria are satisfied are recognised as a liability. ales and course Income from the sale of equipment is recognised in the Siatem¢nt of Financial Activities when the charity has transferred the significant risks and rewards of ownership to the customer. This is iisually at the point the customer receives the goods. Income from the installation of equipmcnt and the delivery of Lourses represents ainounls invoiced in respect ot. the r¢ndering of Services. -Fhis is rcLognised with reference to stag¢ of completion and is recognised in the period in which the service is performed. iii) Donations and fund raisin Income Irom donation.s and fund-raising activities is recoginised ivhen the fiinds are received, in line iviih the ¥eral inLome recognitioii criteria. iv)Investment income Income from investinents is recognised when reL¢ivable. acies Income from legacies are recognised when the charity becomLs entitled to the incoine. This is lakcn the earlier of the datc on ivh ich either.. the charity is made aware that probate has been gTranted, the estate lias been finalised and notificalion has been made by tlie executor to the charity tliat a distribution Nvill bc made, or when a distribulion is received trom the estate. vi)Contract income Lontract income is rccogiiised whcn the cliarity becomes entitled to the income and any performance conditions hi2ve been met, it is probable thal the inLome ivill be received and the amount Lan be measured reliably. Tangible FiTe(l Assets and Depreciation Tangible fixed assets are stated at cost less aLLLimulaled depreLiation and impairn]ent. DeprLciation is providcd to write down the cost of e£TrLh asset to its e%timaled residual value over its expected usLful life. It is calculated at the tolloNI'ing annual rates.. Computers F4Liipment Fixtures and fittings Motor vehicles 20 % of net book value 200/0 ol net book value 20% of net book value 2) % of net book value
HI KENT Acom Guarantee g) Stocks Stocks are valued at the loiver of cost and net realisable value. Cost is calculated on a first in first out basis and includes all Losts incurred in bringing the stock to its presLnt localion and condition. Net reiilisable value is based on the estimated selling prices from which are deduLled rther costs lo Lompletion and disposal, h) Operating Leases Rentals payable under operating leases are charged against income on a straight-line basis over the tem] of the lease. i) Pensions -I"he company opcrates a defined contribution pension scheme. Contributions payable for the year are charged to the Statement of Financial Activities. For more details see note 14. i) Liabllities and Other Resources Expended Liabililies are recognised as expenditure as soon as there is a legal or constructive obligation committing the Lharity to that expenditure, il is probiible that a transfer of economic benefits will be required in settlement and the amount of obligalion can be measurLd rLliably. Expenditure is aLLounted for on an acLruals basi% and has been Llassified IIDder headings that ayrLgate all cost related to that category. support costs arL allocated to the Charitable activitic8 ivhich they support. Where support ¢osts cannoi be directly attribiited to particular headings they have beeii allocated on a proportionatL ba.8is in line with income. Governance costs are not allocated to Charithble aLtivities a8 they reprcsent COSts in respect of governing the charity as a whole and do not direLtly relatc to a specifiL aclivity. k) Creditors Short term Èrade Creditors are tneasured at the transaction price. Other fmancial liabilities, including bank loans, are measured initially at fiiir value, net of transdLtion cosls, and are measiired subsLquently at amorlised cost using the etfeLtive interest meihod. i) Financial instruments Basic fancial assets and liabilities include tradc and other receivables, trade and other payables and cash and bank balances. Tliese are inltially recognised al Iransaclion price Iiiiless the arrangement constitutes a financing transaction (loan over a period ot time) %here the transaction is measured al the present value of the fiitiire receipts discoLinted at a market rate of interebt. Sucli assets and liabililies are SLibseqLiently carried at amortised cost Lising the effective interest method. Cash at Bank & In Hand c.ash held in income ftinds are classified as Cash at Bank and in Hand dlie to being highly liquid accounts.
HI KENT Acom an Limited b Guarantee MEN 2. INCOME FROM DONATIONS, LF.GACIES AND CONTRACTS Unrestricted Restricted Funds funds 2024 2024 Total funds 2024 I'otal funds 2023 Donations Siib.scriptions LeL7a¢ies Govemment grants- Covid support Contract income Grants 38,441 90 38,441 90 42,89) 120 255,000 255.000 264,500 168 78 42 Total donati(), legacies and contracts 462 Tol*l 2023 3. FUNDRAISING INCOMF. Unrestricted RL'stricted FLinds fiinds 2024 2024 Total funds 2024 Total fiinds 2023 FLindraising Sales & installdtion of aids r)eaf aivareness & Sign Languagye coiirses bar Lare services 22,907 22,159 22,907 24,310 22,159 28,720 48,582 48,582 46,448 Total FundraisiTr¥y Income 68 36 Total 2023 4. INVESTMENT INCOME Unrestricted Restricted Funds funds 2024 2024 Total fiinds 2024 Total funds 2023 Bank Interest received Bank- investment bond moveinent 1,17) 1,17) 821 Total Investment Income Total 2023 6)6
HI KENT NOTF.S TO HEF NCIAL STATFMENTS YEAR END AR S. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITES Unrestricted Restriited Funds funds 2024 2024 Total funds 2024 Total funds 2023 I,ip reading supportlsocial Groups/TinnitLlS 2,281 46,836 49,117 34,298 Sign language/Ear LarelDA TIExhibitions 47,443 47,443 52,950 VVS cliniLs 14,7?6 74,647 89,373 94,403 Sale of equipment 381,960 6,115 388,075 434,146 Governance 44 44 Total Total for 2023 6. TOTAL RF.SOURCES EXPENDED l.ip Reading LangLiage eic. elc. vvs Sale ofr 2024 2023 Clincs Equipmeiit Governdnce Total Total Direct Costs Supplics & Installatioii ot-aids I rainingy costs Staff costs OftiLe Losts 18.304 18,304 24,381 45,782 39,498 138,910 128,576 11,178 1,946 34,604 5,333 1.11.631 Total Direct Costs 158390 221653 211446 Total Direct Costs 2023 Support Costs Staff cosl Office costs Premises Losts Deprecation of tixed assLts Bank. char&7es Travel Lost Statutorj. audit cost Fixed Asset Disposals 26,329 3,524 4,973 67,665 4,196 5,921 159,272 27.835 30,010 5,)26 1,410 5,632 1,000 254,266 299,790 38,293 34,127 44,767 44,432 5,526 3,974 2,103 1,691 8,401 11,421 i,044 4,783 2,737 3,863 234 933 181 725 278 Total Support Costs 229 68) 6 044 358 99 410 134 Total Support Costs 2023
HI KENT Acom PA an Limited b Cuarantee TES TO THE FINANCIAL STATEMENTS Continued OR THE YEAR ENDF.D 31 MARCH 202 STAFF COSTS AND NUMBERS Staff costs were as follows: 2024 2023 Salaries and wages Soc ial security costs Pension costs l-Icalthcare and reduced insurance 356.961 25,770 8,669 ,776 392,882 25,686 8,276 1,522 Total 393,176 428,366 Staff cost5 inLILide a provision ot, £9,669 (2023: £21,843) to refleLI the impaLt of unused staft holidav entitlement al the year end. lThis is an accounlingF entry and will be released to the incotnc and expenditure account as the holiday cntiilLmcnt is utilised L70ing forvvard. No eniployee received emoluments of more than £50,000 (2023: nonc more than £50,000). No trustee received any reniuneration dLiring the year (2023: nil). o trustee ivas reimbiirsed duringy the year for e.xpenses incurred on belialf of tlie company {2023.' nil). Thc charity operates a Group Pension Savings Plan for employee.%. FLirther infomiation is provided in nole 14. The average number of employees during the year was as follows: 2024 Number 2023 Number Chief Executive Project support Administration and management 13 14 Total 18 21 The charity signiticantly bencfits from the viork of 8) (2023: 146) full and part-time volunteers, Ivho are in addition lo the average niiinbers shoivn above. 8. TAXATION No liability to United Kingdom corporation tax arose in the year, on the basis that ihe charity is exempt from ta.x on income and gains.
HI KENT an PA Limited tee THE FINAN TE TANGIBLE FIXED ASSETS Computer Olher Fixtures Motor Equipment Equipment & Fittings Vehicles Total COST At l April 2023 Additioiis Disposals 24,600 2,166 13,809 20,419 37,006 95,834 2,166 At 31 MarLh 2024 26,766 13,809 20,419 37,006 98,000 DEPRECIATION At l April 2023 Charge for th¢ year Disposals 9.367 3.41111 10.660 ()30 19,856 31,792 71,675 113 ,303 5,526 At 31 March 2024 19,969 33,095 77,201 NET BOOK VALUE At 31 M<irch ?024 13,919 2,519 450 3,911 20,799 At 31 March 2023 15,233 3,149 563 5,214 24,159 10. DEBTORS 2024 2023 Trade debtors Other d¢btors Prepayments and accriied income 33,896 26.02) 2,333 19,924 19,296 53,192 48,28?
HI KEN Acom anv Limited b Guarantee NOTES T TFIE FINANCIAL STATEMENTS tinued E YEAR ENDE 11. CREDITORS 2024 2023 Trade ¢reditors Other taxes and social security AccrLials and deferred income Other creditors 8,459 12,573 34,008 678 10,404 8,839 40,293 273 55.718 59,809 Deferred income 2024 2023 At l April Additions during the year Released to income 9,616 46,791 (45,098) 6,808 47,170 (44,362) At31'Mar¢h 11,309 9,616 Deferred income of £11,309 relatcs to income from sigii laiiguage coiirses occurring post ycar end. 12. FNANCIAL COMMITMENT At 31 March 2024, the company had dnnual commitmenls under operating Icases as set out beloiv.. 2024 2023 Land and Other Buildings Land and Buildings Other Operating leases ivhich expire- Within one year Between tivo and five years In over five years 31.500 69,125 21,000 31.iOO 88.62) 33.000 121,6?) li3.12) The comp£2nJ's total ftiture financial Lommitments Linder operatino leases are £121,6?- (2023 £li3,12i).
HI KENT Acom an arantee ntinued 13. CAPFTAL COMMITMENTS The company had no capital commitments at the 31 March 2024. I4. PENSION COMMITMENTS l-he conipany operates a Group Pension Savings Plan. The pension cost Lhargye represents contributions payablL by ihe company and amounted to £8,669 (2023.. £8,276). There were Lontribulions of £273 (2023.. £273) payable al the end of the year. RF.LATED PARTIES There h£ive been no related party transactions in the year cndcd 31 March 2024.
HI KENT Aco PA Limited b Guarantee NOTE TO THE FINANCIAL TATEMENTS ontinued RTHEY AR ENDED 31 MARCH 202 16. STATEMENT OF FUNDS Statement of funds- current year Movement in Funds Balance Incoming 1.04.2023 Resources Expenditure Balanee 31.03.2024 UnrestriLted funds Unrestricted fiinds 191,021 420,124 (4i2,454) 158,691 191021 420 124 452 454 158691 Restricted funds Volunteer Visiting Scheme (East Kent) 1,480 36,551 (35,305) 2,726 Volunteer Visiting Scheme (North Kent- fornierly West Kent) 8,670 (8,670) Volunteer Visiting Scheme (West Kent- Formerly Mid Kent) 4,1111 29,251 (30,672) I,ip Reading- FLindraisingy Income 27,191 (21,873) 5.318 TinnitLts Cjroups 5,507 (5,507) Provincial Lodge- Van donation 853 (207) 646 Technology Support Granls 5,908 (5,908) Social Groups CJfdnls 17,377 (17,377) Social Groups Grant- Natioiial Lottery Commiinity Fund 12,473 (2,079) 10,394 434 142 928 Tolal of funds 197,455 563,052 (580,052) 180,455 Reslricted Funds Carrieil Fonvard Volunteer Visiting Scheme East Kent and West Kent The restricted tunds have been desi(ynated to cover the costs of the Voluiiteer Visiting Scheme in the 3 areas of kent helping people vvith maintenance of their NHS hearing aids. Lipreadin(v The restriLtLd funds have been designated to cover the costs of the Lipreadino Courses in thL following year. Social Groups Grant- National Lotterv Community Fund The restrieted funds have been desionated to cover thc costs of Hi Kent's Social Cjroups Project for People Living I1th FLLaring Loss, for Nvhich National Lottery funding has been aNarded. Provincial Lodge- Van donation These funds have been designated to cover the depreciation costs of the van piirchased Nvilh the fiinding.
HI KENT Com an , Limited Guarantee NOTE HE FINANCIAL TATEMF.NT Con inued HE YEAR ENDED 31 MARCH 2024 Statement of funds- prior year Movement in Funds Balance Illeoming Balauce 1.04.2022 Resources Expendilure 31.03.2023 Unrestricted funds Unrestricted fiinds 230,578 432,337 (471,894) 191,021 230 578 432 337 471 894 191 021 Restrictcd funds Volunteer Visiting Scheme (East Kent) I,480 35,676 (35,676) 1,480 Volunleer Visiting Scheme (North Kent- fornierly West Kcnt) 8,575 (8.575) Volunteer Visiting SLheme (West Kcnt- Fornierly Mid Kent) i,840 26.577 (28,316) 4.101 Lip Reading - Fundraising Incomc 18.835 (18,835) Provincial I,odge- Van donation 1,129 (276) 853 IL4B- COMF 8J33 (8,333) Keni C.oiiimunity Foundation - Marketing Project 6,0011 (6,000) TeLhnology Support Grants 26,140 (26,140) Social Groups Grants 12,885 (12,885) Equipment Grants 3,251 (3,251) Involve Kent- W¢irm Space Grant 699 (699) Tonbridge Lions Club- banners 700 (700) 44 147671 149 686 Total of funds 239,027 580,008 (621,580) 197,455
HI KENT Acom an Limited b Guarantee THE FINAN IAL EMENT tinued F. YEAR ENDED 31 MAR H 2024 17. ANALYSIS OF NET ASSETS BETWEEN FUNDS Analysis of net assets between funds- Current year Unrestricted Reslricled funds funds 2024 2024 Total funds 2024 Tangible fixed assets Currenl assLts Creditors due ivithin one year 20,799 193,610 (55,718) 20,799 215,374 (55,718) 21.764 158,691 21,764 180,455 Analysis of nel asset8 between funds- prior year Unrestrieted Restrieted funds 2023 Total funds 2023 2023 I'angpible fixed assets Current assets Creditors due Ivithin one year 24,159 226,671 (59,809) 24,159 233,1 Oi (59,809) 6,434 191,021 6,434 197,455