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2023-03-31-accounts

Charity registration number 1057539

Company registration number 3151878 (England and Wales)

BARNET CARERS CENTRE

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

BARNET CARERS CENTRE

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Cllr Anne Hutton
Mr Jonathan Supran
Ms Ann Woodhall
Mr R Forge
Ms Rosalind Jacobs
Mr C Hurwitz
Mr J Lloyd-Davies
Rabbi D Rich
Ms S Ahmed
Secretary Mr Michael Rich
Charity number 1057539
Company number 3151878
Registered office Global House
303 Ballards Lane
London
N12 8NP
Auditor Richard Anthony
2nd Floor Gadd House
Arcadia Avenue
London
N3 2JU

BARNET CARERS CENTRE

CONTENTS

Page
Trustees' report 1 - 7
Statement of Trustees' responsibilities
Independent auditor's report 8 - 11
Statement of financial activities 12
Balance sheet 13
Statement of cash flows 14
Notes to the financial statements 15 - 24

BARNET CARERS CENTRE

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2023

The trustees present their annual report and financial statements for the year ended 31 March 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 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 102) (as amended for accounting periods commencing from 1 January 2016).

We would like to take this opportunity to thank all our stakeholders, dedicated staff and volunteers for their contribution. As a small organisation, we recognise that our people are our most important assets and without their dedication and professionalism, we would not be able to achieve our mission.

We have continued to develop and improve our services to both adult and young carers throughout the last year and we continue to see growing demand for our services.

Our vision

Our vision remains a simple one - enabling carers in Barnet to thrive.

Our mission

Our mission is in two parts. To provide high-quality services that respond to the needs of unpaid carers, both young and old, and the people they support, and to provide a first-class domiciliary care service to people in the Borough and beyond.

Objectives and activities

Barnet Carers provides high-quality services to informal, unpaid, carers who live in or care for someone who live mainly, but not exclusively, in the London Borough of Barnet. We provide information, emotional and practical support to adult and young carers. We also offer domiciliary care services to people with support needs and those with caring responsibilities.

By supporting carers, we aim to improve the wellbeing of both the carer and the person that they care for. This enables them to thrive and can also give them a much-needed break from their caring role. We currently support carers of all, including young carers supporting a parent or sibling, and adult carers supporting a child, partner or older relative.

Our objectives are to:

To meet these objectives our targets included:

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

BARNET CARERS CENTRE

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

The need

The most recent census put the number of carers in the Borough at 28,000. This represents a fall from previous estimates, and there remains some debate about whether the census numbers reflect the true number of carers in the Borough. What we do know, is that there are a large number of carers in the Borough that we are not reaching and that need support. Barnet continues to see its population both rise and age, and there is reason to believe that both those factors will lead to an increase in the number of carers needing support and an increase in demand for our services. Many carers go unrecognised and receive little or no support often until a crisis point is reached in many cases, individuals do not recognise themselves to be carers. Nationally, caring is often associated with poor physical, mental health and financial difficulties and there is no reason to believe that this is not the case in Barnet.

One of our key objectives is to help identify and support carers and this includes enabling people to understand the definition of a carer. We continue to develop our outreach programme to make sure that we can deliver services to carers where they are. New outreach has been carried out in community centres, at partner organisations, and in GP surgeries and local hospitals.

Criteria for receiving support

Barnet Carers is contracted by the London Borough of Barnet to provide a support service for adult and young carers. To receive support through this contract, the carer or the cared for must live in the Borough. We also run a number of projects that are funded by other organisations such as John Lyons Charity and the Mayor of London. The nature of this funding means that it is possible for us to support people through these projects who live outside of the Borough.

Our services are currently provided mainly through contracts with the local authority and from grants awarded from trusts and foundations. Most services are provided free of charge.

The Care Act

Carers are entitled by law to a range of services under the 2014 Care Act. Many of our services are governed by current legislation and funders criteria and are designed to support the delivery of rights and support for carers under the 2014 Care Act. The organisation reviewed and changed our approach to help provide a wide range of support options and improve service access by bringing services to more community locations across the Borough though stronger partnerships, Our Adult Carers Team assist all carers to identity support options available to help with care responsibilities, plan for the future and access specialist support to help them maintain an independent life alongside their caring responsibilities.

BARNET CARERS CENTRE

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Services for adult carers

Our Adult Carers Team works with carers to enable them to manage and maintain their caring responsibilities. We provide a service designed around the needs of both the carers and those they care for. This can include:

We have also provided:

BARNET CARERS CENTRE

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Services for young carers

We operate young carers services across the Borough at community locations and in several schools. Our specialist Young Carer Team work with young carers, their parents and siblings to ensure that the whole family are involved in developing a support plan for young carers and that they have the support they need to manage their caring responsibilities, and to continue to engage and progress in school. We have developed a “wrap-around” programme for young carers which now provides them with access to a wide-ranging activities programme, e.g., individual and group mentoring available within school settings and a tuition programme to ensure that young carers are not educationally disadvantaged due to their caring role.

Young carers have also been able to access the following:

A strength-based approach

Through a wide range of services Barnet Carers aims to achieve positive outcomes for both adult and young carers. Through a “strengths-based” approach we seek to enable carers to improve their health and wellbeing, increase their understanding of the rights that they have as a carer, reduce feelings of isolation through involvement in our many educational and social activities, and make sure they are, as much as possible, living the life they want to lead.

Barnet adult and young carers strategy 2023-2028

The local authority was active in 2022-23 in developing a new Adult and Young Carers Strategy for the Borough. Barnet Carers took a lead role in the development of the strategy and ran a series of engagement activities to ensure that the voice of carers was heard. The strategy will involve the establishment of a new Carers Engagement Board which will be chaired by Barnet Carers.

Influencing and participation

The organisation is active within the Borough and has had a key role in the development of the Barnet Dementia Strategy and the Dementia Friendly Barnet programme. We are also active members of the Barnet Safeguarding Board and the Access to Justice Sub-Committee. We are also active within the local voluntary sector and in supporting initiatives across the Borough and across North London that support carers.

Volunteers

Our volunteers continue to make a valuable and sustainable contribution to our day-to-day work. Our aim is to further develop our volunteer programme in 2024. Currently, our volunteers are limited to counselling and form-filling support. We have 8 volunteers (not including our volunteer Board members). Their contribution to the charity is valued at up to £25,000.

Our approach to volunteering ensures that all volunteers feel valued and are supported, trained, and appraised for their chosen roles. We recognise the impact volunteers can have on empowering carers to feel supported in their caring roles - be it sharing their experience or giving practical and emotional support.

BARNET CARERS CENTRE

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Achievements and performance

Highlights in 2022-23

Financial review

Our overall policy is to build up a reserve of unrestricted funds, which if required, could fund the existing operations of the Centre for a three-month period. In the event of the organisation facing difficult financial circumstances, the reserve balance would enable the Centre to continue during a period of managed adjustment to these new circumstances. The Trustees are currently reviewing the reserves policy in line with the strategy and business plan to ensure the organisation continues on a solid financial footing.

The figures for reserves as at 31 March 2023 are as follows:

Going concern

There is no uncertainty about the charity's ability to continue as a going concern.

Material investments and liabilities

There are no material financial investments in this financial year.

The Trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Principal risks and uncertainties

The organisation maintains an ongoing risk register, which is reviewed regularly by trustees where appropriate, and systems, procedures and controls have been established to mitigate the risks the charity faces. Financial risks are minimised by the implementation of procedures for authorisation of all transactions and projects. A strategic plan is in place which will allows for the diversification of funding and activities.

The trustees and senior managers have worked to mitigate the financial risk and remain confident in our ability to continue this work.

BARNET CARERS CENTRE

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Structure, governance and management

The charity is a company limited by guarantee and carries out its activities in accordance with its Memorandum and Articles of Association. The decision-making body is the Board of Trustees - all Directors and co-opted Directors are members who are elected at the Annual General Meeting by the Members of the organisation (the Trustees/Directors). The Board meets on a regular basis. It maintains a long-term overview of the organisation and its work and is responsible in a non-executive capacity for overall strategy, ensuring the sound financial management of the organisation, preparing the Trustees' Report each year and the appointment of the Chief Executive.

Trustees have complied with their duty to have due regard to public benefit guidance issued by the Charity Commission when exercising any powers or duties to which the guidance is relevant. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.

In the main, the trustees make decisions on strategic issues, delegating the day-to-day running of the organisation to the CEO and the Senior Management Team (SMT).

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Cllr Anne Hutton

Mr Jonathan Supran

Ms Ann Woodhall

Mr R Forge Ms Rosalind Jacobs Mr C Hurwitz Mr J Lloyd-Davies Rabbi D Rich Ms S Ahmed

Trustees are recruited according to an internal process. Applicants are initially put in touch with the head of business administrator. An application form is provided and the CEO and one or two existing trustees then interview the applicant. If that interview is successful and subject to satisfactory references, the Board of Trustees takes a vote on the applicant being formally endorsed at the next AGM.

We hold a comprehensive half-day induction into the organisation. Additional training including workshops is provided as needed.

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

The Chief Executive and the senior management team are: Mike Rich Chief Executive Keely Dunning Head of Carers Services Mojisola Onikoyi Head of Finance Donia Arnall Head of Homecare Services Rhonda Oliver Head of Business Administration Maivel Rodriguez Head of Development and Strategic Engagement Teresa Tojuola HR Business Partner

An average staff team of 63, of whom 15 are full-time, execute the operational activities of the organisation.

BARNET CARERS CENTRE

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Related parties and relationships with other organisations

Anne Hutton and Rabbi Danny Rich, trustees of Barnet Carers Centre are Councillor for The London Borough of Barnet.

Statement of trustees' responsibilities

The trustees, who are also the directors of Barnet Carers Centre for the purpose of company law, are responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that 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 Companies Act 2006. 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 irregularities.

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The total number of such guarantees at 31 March 2023 was 9 (2022: 9). The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

Statement as to disclosure to our auditors

In so far as the trustees are aware:

Auditor

Richard Anthony was appointed as auditor to the company and a resolution proposing that they be re-appointed will be put at a General Meeting.

Remuneration Policy for key management personnel

There is a benchmark rate for CEO and members of the SMT based on payments in the voluntary sector.

The trustees report was approved by the Board of Trustees.

.............................. .............................. Mr Jonathan Supran Ms Ann Woodhall Treasurer Chair Dated: ...30/01/2024...................... Dated:...30/01/2024......................

BARNET CARERS CENTRE

INDEPENDENT AUDITOR'S REPORT

TO THE MEMBERS OF BARNET CARERS CENTRE

Opinion

We have audited the financial statements of Barnet Carers Centre (the ‘charity’) for the year ended 31 March 2023 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the 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

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. 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. 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

BARNET CARERS CENTRE

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF BARNET CARERS CENTRE

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the Trustees' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of Trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as 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 charitable company or to cease operations, or have no realistic alternative but to do so.

BARNET CARERS CENTRE

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF BARNET CARERS CENTRE

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an 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 extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The charitable company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation. We determined that the following laws and regulations were most significant:

We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items. We understood how the charitable company is complying with those legal and regulatory frameworks by making enquiries to management and those responsible for legal and compliance procedures. The engagement partner assessed whether the engagement team had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations. The assessment did not identify any issues in this area.

We assessed the susceptibility of the charitable company’s financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:

•Identifying and assessing the measures management has in place to prevent and detect fraud

•Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process,

•Challenging assumptions and judgements made by management in its significant accounting estimates, and

•Identifying and testing journal entries in particular any journal entries posted with unusual account combinations.

As a result of the above procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential therefore existing within the recording and recognition of salaries. Our procedures in this respect were focused on the authorisation and validity of salary and associated payments and directed towards the accuracy thereof by undertaking testing of payroll records, time sheets and other supporting documentation on a sample basis. We consider that the work we undertook in this regard was considered capable of detecting irregularities and fraud within the payroll cycle.

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 non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

BARNET CARERS CENTRE

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF BARNET CARERS CENTRE

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' 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 charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

.............................................

Michael Barnett BA FCA (Senior Statutory Auditor) for and on behalf of Richard Anthony Chartered Accountants

2nd Floor Gadd House Arcadia Avenue London N3 2JU

BARNET CARERS CENTRE

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2023

Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£		 Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£		 Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£		 Total
2023
£		 Total
funds funds
2023 2023 2022
£ £ £
Income from:
Donations and legacies
3		 8,194 - 8,194
1,347,821
1,475
1,357,490
19,787
1,484,312
1,504,099
(146,609)		 7,184
Charitable activities
4		 889,698 458,123 1,448,791
Investments
5		 1,475 - 1,056
Total income
Expenditure on:
899,367 458,123 1,457,031
Raising funds
6		 19,787 - 37,532
Charitable activities
7		 885,026 599,286 1,407,051
Total expenditure 904,813 599,286 1,444,583
Net income/(expenditure) and movement in
funds
(5,446) (141,163) 12,448
Reconciliation of funds:
Fund balances at 1 April 2022 83,197 158,210 241,407
94,798		 228,959
Fund balances at 31 March 2023 77,751 17,047 241,407

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

BARNET CARERS CENTRE

BALANCE SHEET

AS AT 31 MARCH 2023

Notes 2023 2022
£ £ £ £
Fixed assets
Tangible assets
13
Current assets		 75,504
106,058
181,562
117,936		 31,172
63,626
94,798		 107,418
227,713
335,131
139,125		 45,401
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within
one year
15
Net current assets 196,006
Total assets less current liabilities
241,407
The funds of the charity
Restricted income funds
16
Unrestricted funds		 17,047
77,751
94,798		 158,210
83,197
241,407
The financial statements were approved by the trustees on .. .......................
...........
..............................		 ...................
Mr Jonathan Supran
Mr J Lloyd-Davies
Trustee
Trustee

Company registration number 3151878 (England and Wales)

BARNET CARERS CENTRE

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2023

Notes
Cash flows from operating activities
Cash absorbed by operations
20
Investing activities
Purchase of tangible fixed assets		 2023 2022
£
£
(118,523)
(43,784)
-
(43,784)
-
(162,307)
371,670
18,350
227,713		 2022
£
£
(118,523)
(43,784)
-
(43,784)
-
(162,307)
371,670
18,350
227,713
£
£
(119,812)
(2,158)
315
(1,843)
-
(121,655)
227,713
-
106,058
Investment income received
Net cash used in investing activities
Net cash used in financing activities
Net decrease in cash and cash equivalents
Cash and cash equivalents at beginning of year
Adjustment at 1st April 2021
Cash and cash equivalents at end of year
371,670
18,350
227,713

BARNET CARERS CENTRE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

Charity information

Barnet Carers Centre is a private company limited by guarantee incorporated in England and Wales. The registered office is Global House, 303 Ballards Lane, London, N12 8NP.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's Memorandum of Association, the Companies Act 2006 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 102)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees has a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Incoming resources

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services provided in the normal course of business.

BARNET CARERS CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

1.5 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings 25% - Straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.6 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.7 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

BARNET CARERS CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.9 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11 Leases

Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a straight line basis over the term of the relevant lease.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from donations and legacies

Unrestricted Restricted Total Total
funds funds
2023 2023 2023 2022
£ £ £ £
Donations and gifts 8,194 - 8,194 7,184

BARNET CARERS CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

4 Charitable activities

Homecare
London Borough of Barnet
Grants to individuals
Other income
Analysis by fund
Unrestricted funds
Restricted funds
For the year ended 31 March 2022
Unrestricted funds - general
Restricted funds		 Adult
Carers		 Young
Carers
Homecare		 Young
Carers
Homecare		 Young
Carers
Homecare		 Total
2023
£
892,011
355,182
22,964
77,664
1,347,821		 Total
2023 2023 2023 2022
£ £ £ £
2,500 - 889,511 907,754
235,000 120,182 - 346,091
22,964 - - 31,005
- 77,477 187 163,941
260,464 197,659 889,698 1,448,791
- - 889,698 889,698
458,123
1,347,821		 922,255
260,464 197,659 - 526,536
260,464 197,659 889,698 1,448,791
- - 922,255
1,625
923,880		 922,255
318,488 206,423 526,536
318,488 206,423 1,448,791
5
Investments
Investments
Unrestricted Restricted Total Total
funds funds
general
2023 2023 2023 2022
£ £ £ £
Interest receivable 1,475 - 1,475 1,056

BARNET CARERS CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

6 Raising funds

Unrestricted
Restricted
funds
funds
general
2023
2023
£
£		 Unrestricted
Restricted
funds
funds
general
2023
2023
£
£		 Unrestricted
Restricted
funds
funds
general
2023
2023
£
£		 Unrestricted
Restricted
funds
funds
general
2023
2023
£
£		 Unrestricted
Restricted
funds
funds
general
2023
2023
£
£		 Unrestricted
Restricted
funds
funds
general
2023
2023
£
£		 Total
2023
£
570
12,770
6,447
19,787
Total
2023
£
1,176,692
75,725
1,252,417
27,410
166,150
38,335
1,484,312
885,026
599,286
1,484,312		 Total
funds funds
general
2023 2023 2022
£ £ £
Fundraising and publicity 570 - 3,477
Staff costs 12,770 - 33,395
Support costs 6,447 - 660
19,787 - 37,532
Expenditure on charitable activities
Adult
Carers		 Young
Carers
Homecare		 Total
2023 2023 2023 2022
£ £ £ £
Direct costs
Staff costs 161,259 284,045 731,388 1,107,004
Other Direct Costs 16,924 13,015 45,786 59,545
Grant funding of activities (see note 8)
178,183 297,060 777,174 1,166,549
27,410 - - 42,115
Share of support and governance costs (see note 9)
Support 47,163 30,038 88,949 171,982
Governance 11,104 8,328 18,903 26,405
Analysis by fund
263,860 335,426 885,026 1,407,051
Unrestricted funds - - 885,026 914,016
Restricted funds 263,860 335,426 - 493,035
263,860 335,426 885,026 1,407,051
914,016
984
915,000
For the year ended 31 March 2022
Unrestricted funds - general - - 914,016
Restricted funds 297,675 194,376 493,035
297,675 194,376 1,407,051

7 Expenditure on charitable activities

BARNET CARERS CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

8 Grants payable

Grants payable
Total Total
2023 2022
£ £
Grants to individuals 27,410 42,115

9 Support costs

Support costs
Governance
costs
2023
2023
£
£		 Support costs
Governance
costs
2023
2023
£
£		 Support costs
Governance
costs
2023
2023
£
£		 Total Total
2023 2023 2023 2022
£ £ £ £
Management fees 87,246 - 87,246 97,387
Finance 15,055 - 15,055 16,975
IT and Equipment 59,214 - 59,214 54,140
HR 4,634 - 4,634 4,719
Governance - 38,335 38,335 26,405
Analysed between
166,149 38,335 204,484 199,626
6,447
Fundraising 6,447 1,239
Charitable activities 159,702 38,335 198,037 198,387
166,149 38,335 204,484 199,626
2023 2022
Governance costs comprise: £ £
Audit fees 15,200 13,000
Legal and professional 23,135 13,405
38,335 26,405

10 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

BARNET CARERS CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

11 Employees

Number of employees

The average monthly number of employees during the year was:

2023 2022
Number Number
63 91
Employment costs 2023 2022
£ £
Wages and salaries 1,087,436 1,038,211
Social security costs 83,918 74,844
Other pension costs 18,108 18,970
1,189,462 1,132,025

12 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

13 Tangible fixed assets

Tangible fixed assets Tangible fixed assets
Fixtures and
fittings
£
£
Cost
At 1 April 2022 117,160
Additions 2,158
At 31 March 2023 119,318
Depreciation and impairment
At 1 April 2022 71,759
Depreciation charged in the year 16,387
At 31 March 2023 88,146
Carrying amount
At 31 March 2023 31,172
At 31 March 2022 45,401

BARNET CARERS CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

14
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income
15
Creditors: amounts falling due within one year
2023 2022
£ £
75,504 92,619
- 4,299
- 10,500
75,504 107,418
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income		 2023 2022
£ £
31,354 18,776
13,419 1,031
1,129 175
72,034 119,143
117,936 139,125

16 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 April
2022
Incoming
resources
Resources
expended
At 31 March
2023
£
£
£
£
-
-
(2,053)
(2,053)
Adult Carers
142,910
260,464
(382,737)
20,637
Young Carers
6,708
197,659
(214,496)
(10,129)		 At 1 April
2022
Incoming
resources
Resources
expended
At 31 March
2023
£
£
£
£
-
-
(2,053)
(2,053)
Adult Carers
142,910
260,464
(382,737)
20,637
Young Carers
6,708
197,659
(214,496)
(10,129)		 At 1 April
2022
Incoming
resources
Resources
expended
At 31 March
2023
£
£
£
£
-
-
(2,053)
(2,053)
Adult Carers
142,910
260,464
(382,737)
20,637
Young Carers
6,708
197,659
(214,496)
(10,129)		 At 1 April
2022
Incoming
resources
Resources
expended
At 31 March
2023
£
£
£
£
-
-
(2,053)
(2,053)
Adult Carers
142,910
260,464
(382,737)
20,637
Young Carers
6,708
197,659
(214,496)
(10,129)		 At 1 April
2022
Incoming
resources
Resources
expended
At 31 March
2023
£
£
£
£
-
-
(2,053)
(2,053)
Adult Carers
142,910
260,464
(382,737)
20,637
Young Carers
6,708
197,659
(214,496)
(10,129)
£ £
£		 £
-
(2,053)
260,464
(382,737)
197,659
(214,496)
- (2,053)
Adult Carers 142,910 20,637
Young Carers 6,708 (10,129)
Homecare (914) - - (914)
Other Activities 9,506 - - 9,506
458,123
(599,286)
158,210 17,047
Previous year:
At 1 April
2021
Incoming
resources
Resources
expended
At 31 March
2022
£
£
£
£
124,709
526,536
(493,035)
158,210

BARNET CARERS CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

17 Unrestricted funds

At 1 April
2022
Incoming
resources
Resources
expended
At 31 March
2023
£
£
£
£
Other activities
83,197
899,367
(910,996)
71,568
General funds
-
-
6,183
6,183
83,197
899,367
(904,813)
77,751
Previous year:
At 1 April
2021
Incoming
resources
Resources
expended
At 31 March
2022
£
£
£
£
Other activities
104,250
930,495
(951,548)
83,197
18
Analysis of net assets between funds
Unrestricted
Restricted
Total
funds
funds
2023
2023
2023
£
£
£
Fund balances at 31 March 2023 are represented by:
Tangible assets
31,172
-
31,172
Current assets/(liabilities)
46,579
17,047
63,626
77,751
17,047
94,798
Unrestricted
Restricted
Total
funds
funds
2022
2022
2022
£
£
£
Fund balances at 31 March 2022 are represented by:
Tangible assets
45,401
-
45,401
Current assets/(liabilities)
37,796
158,210
196,006
83,197
158,210
241,407		 At 1 April
2022
Incoming
resources
Resources
expended
At 31 March
2023
£
£
£
£
Other activities
83,197
899,367
(910,996)
71,568
General funds
-
-
6,183
6,183
83,197
899,367
(904,813)
77,751
Previous year:
At 1 April
2021
Incoming
resources
Resources
expended
At 31 March
2022
£
£
£
£
Other activities
104,250
930,495
(951,548)
83,197
18
Analysis of net assets between funds
Unrestricted
Restricted
Total
funds
funds
2023
2023
2023
£
£
£
Fund balances at 31 March 2023 are represented by:
Tangible assets
31,172
-
31,172
Current assets/(liabilities)
46,579
17,047
63,626
77,751
17,047
94,798
Unrestricted
Restricted
Total
funds
funds
2022
2022
2022
£
£
£
Fund balances at 31 March 2022 are represented by:
Tangible assets
45,401
-
45,401
Current assets/(liabilities)
37,796
158,210
196,006
83,197
158,210
241,407		 At 1 April
2022
Incoming
resources
Resources
expended
At 31 March
2023
£
£
£
£
Other activities
83,197
899,367
(910,996)
71,568
General funds
-
-
6,183
6,183
83,197
899,367
(904,813)
77,751
Previous year:
At 1 April
2021
Incoming
resources
Resources
expended
At 31 March
2022
£
£
£
£
Other activities
104,250
930,495
(951,548)
83,197
18
Analysis of net assets between funds
Unrestricted
Restricted
Total
funds
funds
2023
2023
2023
£
£
£
Fund balances at 31 March 2023 are represented by:
Tangible assets
31,172
-
31,172
Current assets/(liabilities)
46,579
17,047
63,626
77,751
17,047
94,798
Unrestricted
Restricted
Total
funds
funds
2022
2022
2022
£
£
£
Fund balances at 31 March 2022 are represented by:
Tangible assets
45,401
-
45,401
Current assets/(liabilities)
37,796
158,210
196,006
83,197
158,210
241,407		 At 1 April
2022
Incoming
resources
Resources
expended
At 31 March
2023
£
£
£
£
Other activities
83,197
899,367
(910,996)
71,568
General funds
-
-
6,183
6,183
83,197
899,367
(904,813)
77,751
Previous year:
At 1 April
2021
Incoming
resources
Resources
expended
At 31 March
2022
£
£
£
£
Other activities
104,250
930,495
(951,548)
83,197
18
Analysis of net assets between funds
Unrestricted
Restricted
Total
funds
funds
2023
2023
2023
£
£
£
Fund balances at 31 March 2023 are represented by:
Tangible assets
31,172
-
31,172
Current assets/(liabilities)
46,579
17,047
63,626
77,751
17,047
94,798
Unrestricted
Restricted
Total
funds
funds
2022
2022
2022
£
£
£
Fund balances at 31 March 2022 are represented by:
Tangible assets
45,401
-
45,401
Current assets/(liabilities)
37,796
158,210
196,006
83,197
158,210
241,407		 At 1 April
2022
Incoming
resources
Resources
expended
At 31 March
2023
£
£
£
£
Other activities
83,197
899,367
(910,996)
71,568
General funds
-
-
6,183
6,183
83,197
899,367
(904,813)
77,751
Previous year:
At 1 April
2021
Incoming
resources
Resources
expended
At 31 March
2022
£
£
£
£
Other activities
104,250
930,495
(951,548)
83,197
18
Analysis of net assets between funds
Unrestricted
Restricted
Total
funds
funds
2023
2023
2023
£
£
£
Fund balances at 31 March 2023 are represented by:
Tangible assets
31,172
-
31,172
Current assets/(liabilities)
46,579
17,047
63,626
77,751
17,047
94,798
Unrestricted
Restricted
Total
funds
funds
2022
2022
2022
£
£
£
Fund balances at 31 March 2022 are represented by:
Tangible assets
45,401
-
45,401
Current assets/(liabilities)
37,796
158,210
196,006
83,197
158,210
241,407
£ £
£		 £
104,250 930,495
(951,548)		 83,197
18
Analysis of net assets between funds
Total
funds funds
2023 2023 2023
£ £ £
31,172 - 31,172
46,579 17,047 63,626
77,751 17,047 94,798
Total
funds funds
2022 2022 2022
£ £ £
45,401 - 45,401
37,796 158,210 196,006
83,197 158,210 241,407

19 Related party transactions

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

BARNET CARERS CENTRE

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

20
Cash generated from operations
2023
2022
£
£
(Deficit)/surpus for the year
(146,609)
12,448
Adjustments for:
Investment income recognised in statement of financial activities
(315)
-
Depreciation charges
16,387
9,776
Movements in working capital:
Decrease in debtors
31,914
15,982
(Decrease) in creditors
(21,189)
(130,473)
(Decrease) in deferred income
-
(26,256)
Cash absorbed by operations
(119,812)
(118,523)
21
Analysis of changes in net funds		 20
Cash generated from operations
2023
2022
£
£
(Deficit)/surpus for the year
(146,609)
12,448
Adjustments for:
Investment income recognised in statement of financial activities
(315)
-
Depreciation charges
16,387
9,776
Movements in working capital:
Decrease in debtors
31,914
15,982
(Decrease) in creditors
(21,189)
(130,473)
(Decrease) in deferred income
-
(26,256)
Cash absorbed by operations
(119,812)
(118,523)
21
Analysis of changes in net funds		 20
Cash generated from operations
2023
2022
£
£
(Deficit)/surpus for the year
(146,609)
12,448
Adjustments for:
Investment income recognised in statement of financial activities
(315)
-
Depreciation charges
16,387
9,776
Movements in working capital:
Decrease in debtors
31,914
15,982
(Decrease) in creditors
(21,189)
(130,473)
(Decrease) in deferred income
-
(26,256)
Cash absorbed by operations
(119,812)
(118,523)
21
Analysis of changes in net funds
21
Analysis of changes in net funds

The charity had no debt during the year.