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2021-03-31-accounts

REGISTERED COMPANY NUMBER: 03344224 (England and Wales) REGISTERED CHARITY NUMBER: 1062723

AGE UK MAIDSTONE (A company limited by guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

OR THE YEAR ENDED 31 MARCH 2021

Porritt Rainey The Crown Business Centre 10 High Street Otford Sevenoaks Kent TN14 5PQ

Age UK Maidstone Contents of the Financial Statements for the year ended 31 March 2021

Page
Chairman's Report 1
Report of the Trustees 2 to 6
Report of the Independent Auditors 7 to 8
Statement of Financial Activities 9
Statement of Financial Position 10
Statement of Cash Flows 11
Notes to the Statement of Cash Flows 12
Notes to the Financial Statements 13 to 20
Detailed Statement of Financial Activities 21 to 22

Age UK Maidstone Chairman's Report for the year ended 31 March 2021

2020/21 was an unprecedented year in the history of AUKM.

The year was very challenging with many tough decisions made during the covid and pandemic period.

A big thank you to the team, volunteers and for the strong leadership during these challenging times. It was a great team that enabled us to deal with the challenges of working through the pandemic.

Lockdown brought many challenges these included the suspension of some services, delivering services remotely, staff working remotely, setting up additional service during the pandemic (eg meals on wheels) at very short notice. During the pandemic there was a very strong team spirit, collaboration and teamworking to work through the challenges and to succeed and not to let down the elderly in the local community.

The decision was taken to keep the Mill Street office open as a hub during the pandemic period, this enabled us to co-ordinate and deliver effective services at these difficult times & it became a beacon for the elderly in the local community.

The government furlough scheme was used for some staff and immediate action was taken to manage other expenses and costs within AUKM.

In December 2020 the central KKC fund was lost with the West Kent Well Being Services contract being awarded to another party. There was then a period of detailed discussion with KCC, MBC, Age UK National, West Kent Partners & Age UK Kent Consortium to work on transition plans (services and finance) for local services.

These discussions resulted in improved and enhanced working relationships with all key stakeholders and will serve us well as we move into next year.

During the pandemic period the board met remotely on a regular basis to provide strategic guidance, support and advice during these difficult times.

During 2020/21 additional skills and capabilities were added to the board. These included finance, fundraising, Risk & Compliance. Also pleased to report the diversity of the board was also significantly enhanced.

Due to the decisive, clear and timely actions taken by AUKM the charity closed 2020/21 in a solid and stable financial position, with services matching the needs of the local community (given the covid landscape) and in good position to face into the challenges for the coming year.

Jess Kuller

Mr J Kuller, Chairman

Page 1

Age UK Maidstone Report of the Trustees for the year ended 31 March 2021

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of 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) (effective 1 January 2019).

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2020. The trustees have adopted the provisions of 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) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

Age UK Maidstone is a non political, non sectarian voluntary body with charitable status working with statutory and other voluntary organisations to promote the welfare of elderly people in any manner which now, or hereafter, may be deemed by the law to be charitable, within the Borough of Maidstone and Kent.

Our priorities are laid out in our Mission statement:

Our Mission

The provision of Health, Wellbeing and Support to older people working across Kent with similar minded charities

We believe:

Our objectives are:

To listen to older people and try to offer person centred support

When clients need more specialist care than we can provide, we refer them on to other agencies working to secure the support they need. To provide the best services to help older to have full and active lives.

Public benefit

We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.

Volunteers

Many volunteers had to self-isolate, Kent Fire and Rescue and The Rotary Club stepped in to volunteer.

Trustees would like to thank all our volunteers for their loyalty to the clients whom we are here to support.

We would like to thank the following organisations, which have supported us during the year by providing us with services free of charge or at a reduced rate:

Golding Homes Gallagher's Caremark

We would like to thank KCC , Maidstone Borough Council , Kent Fire and Rescue and The Rotary Club for their continued support.

Page 2

Age UK Maidstone

Report of the Trustees for the year ended 31 March 2021

STRATEGIC REPORT

Charitable activities

Achievements and Performance

The year 2020 -21 has been challenging, due to the impact of the pandemic. All social groups, day centres and dementia services were suspended; however, we adapted services to support clients in their homes through the setting up of the meals-on-wheels service, dementia outreach and welfare calls and visits.

Throughout the pandemic we continued to operate a foot care service in the area covered by Maidstone Borough Council. The service is delivered by a team of nurses on a full cost recovery basis. The service is available to residents of the borough who are not residing in hospital, are aged over 55 and have been assessed by ourselves as requiring foot care. This service operates under strict medical and Covid guidelines and has been a resounding success. Our service enables the clients to maintain their independence and reduces the risks of falls and subsequent injuries.

Our Community bathing service has continued for those residents of the Borough of Maidstone aged over 55, with a mobility problem or having difficulty getting in and out of the bath. The service has been adapted to meet the new legislation set out by CQC.

The independent living support service continues to develop. The service is designed to assist older people to remain independent in their own homes. Covid meant that we had to adapt the service to meet their needs. We carried out a considerable amount of shopping calls, prescription pick-ups and welfare calls, and continued to provide support with day-to-day tasks, such as cleaning, laundry, bed changing, shopping, gardening, and befriending. We also provided a take home and settle service from Maidstone hospital on behalf of Age UK East Sussex and the West Kent Clinical Commissioning group

Financial review

Financial position

Financial Review of the Year

Our Income and Expenditure Statement show a surplus for the financial year amounting to £ 451,921 (2019/20 deficit £27,590 ).

Income received totalled £1,090,226 ( 2019/20: £1,032,204).

Reserves policy

Consolidated funds now stand at £774,357 (2020/21: £322,436) but of these £73,160 is restricted and £114,993 designated to special areas of expenditure see Note 19 to the Financial Statements. Our consolidated funds are sufficient to fund all of our activities for 6 months.

The trustees’ reserves policy, in respect of both the restricted and unrestricted funds, is to maintain these so that they are sufficient to complete an orderly closure of operations should funding cease.

Principal risks and uncertainties

The Trustees have identified the following as being major risks:

Page 3

Age UK Maidstone Report of the Trustees for the year ended 31 March 2021

STRATEGIC REPORT

Financial and risk management objectives and policies

The trustees have a duty to identify and review the risks to which the Charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. To this end, the Charity maintains a risk register.

The trustees have assessed the major risks to which the Charity is exposed, in particular those related to operations and finances of the Charity and are satisfied that systems and controls are in place to mitigate exposure to the major risks. As part of the process, the trustees review:

The trustees meet several times per year to review the general financial position of the Charity. The trustees have reviewed the Charity’s own internal financial controls and are satisfied that these are appropriate in minimising any risk to the Charity’s funds.

The immediate risk facing the Charity currently is any ongoing financial uncertainty resulting from the COVID-19 pandemic and its potential impact on income and services provided.. In particular, this has impacted on Day care and Dementia care income. The trustees have assessed to the best of their abilities the current and potential future impact of the COVID-19 pandemic, to ensure that the Charity can maintain its day-to-day activities. The Trustees will take whatever measures they consider to be required during this time to enable the Charity to continue its operations.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

Age UK Maidstone is a Charitable company limited by guarantee which was incorporated on 2 April 1997 as Age Concern Maidstone. The Charity is registered with the Charity Commission and governed by its Memorandum and Articles of Association and the Constitution. Directors and Trustees receive no remuneration for their work on behalf of the charity.

On 29th February 2012 the charity changed its name to Age UK Maidstone as a company limited by guarantee as the successor to Age Concern Maidstone. The members present at the charities Annual General meeting on 6th October 2011 had voted in favour of the name change on the recommendation of the Directors.

Our Trustees have traditionally been recruited by word of mouth, personal recommendation and via the local Volunteer Bureau. We have been fortunate that the mix of expertise has been sufficient to enable the Trustees to make informed decisions. All new Trustees are given an induction pack which includes a copy of "The Essential Trustee" published by the Charity Commission. They are also assigned an existing Trustee as their mentor and given the opportunity to visit all the various activities of the Charity.

As part of our commitment to quality in the services we provide we are registered with the Care Quality Commission. We applied for ISO 9001 on the 7th February 2014 and were registered on the 20th February 2014 for the provision of social opportunities and outreach services to older people. We are inspected annually on our compliance with our ISO 9001:2015 standard. We were inspected in November 2017 and are reregistered for another three years subject to annual reviews. As a brand partner of Age UK we received support from the national charity through the brand partner payments as a grant, fact sheets, policy responses to Government initiatives and support for campaigning on issues that affect older people.

Any decisions that may affect existing policies, or the agreeing of new policies or procedures, are made by the Board after receiving recommendation from the Board's various sub committees. These are formed to advise the Board on Finance and Business Planning, Care and Personnel. The Board also ask the Chief Executive Officer who attend the Board and its sub committees in an advisory role. Kent Adult Social Care confirmed in their grant application confirmation letter that our grant for the financial year 20/21 would be our last as they would be issuing contracts subject to competitive tender to start from April 1st, 2021 as a result of this the Trustees held an Away Day to review our strategic objectives going forward. As part of the day, we reviewed our Mission Statement. With continuing concerns over the amount of cash reserves we were holding the Trustees continued their on-going review of the prices charged to clients and our reserves policy. Our Trustees having reviewed our cash reserves and have set a minimum target for £50,000 in unrestricted cash reserves for the end of the financial year 2020/21. They also asked the Chief Executive to provide budget models that included no funding from Kent County Council for the Board to consider before setting the budget for 2021/22

Our grant funding for 2020/21 was paid to our lead organisation Age UK Sevenoaks and Tonbridge who then redistribute the monies to partner organisations. The current agreement was due to finish on 31 March 2021.

Page 4

Age UK Maidstone

Report of the Trustees for the year ended 31 March 2021

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

03344224 (England and Wales)

Registered Charity number 1062723

Registered office

Unit 1 and 2 Dairy Farm Fairview Farm Linton Road Maidstone ME15 0AL

Trustees

Ms L M Amuro (resigned 2/4/2020) Dr A Shivji (resigned 11/4/2020) Ms C A Vizzard B C Vizzard (resigned 1/4/21) J Kuller K J Hesketh (appointed 1/7/2020) A F Gipson (appointed 19/4/2021 resigned 11/11/21) K Barnes (appointed 19/4/2021) M McKay (appointed 19/4/2021) M J Redondo Gonzalez (appointed 26/5/2021)

Company Secretary

Mrs L H MacPherson

Auditors

Porritt Rainey The Crown Business Centre 10 High Street Otford Sevenoaks Kent TN14 5PQ

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Age UK Maidstone for the purposes of company law) are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"

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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

Page 5

Age UK Maidstone

Report of the Trustees for the year ended 31 March 2021

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 26 January 2022 and signed on the board's behalf by:

Jess Kuller

J Kuller - Trustee

Page 6

Report of the Independent Auditors to the Trustees of Age UK Maidstone

Opinion

We have audited the financial statements of Age UK Maidstone (the 'charitable company') for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company 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 charitable company'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 trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether 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.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 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 charitable company for the purposes 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 charitable company'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.

Page 7

Report of the Independent Auditors to the Trustees of Age UK Maidstone

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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 a Report of the Independent Auditors 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:

Based on our understanding of the charity and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to registered charities, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities Act 2011 and other factors such as taxation.

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to manual accounting journals. Audit procedures performed by the engagement team included:

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees 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 trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Porritt Rainey

for and on behalf of Porritt Rainey Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 The Crown Business Centre

10 High Street Otford Sevenoaks Kent TN14 5PQ

Date: 26 January 2022

Page 8

Age UK Maidstone

Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the year ended 31 March 2021

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
5
Daycare
Bathing Service
Advice and Information
Handyman
Independent Living Service
Footcare
Befriending
Dementia Centre
Transport Service
Meals on wheels service
Other trading activities
3
Investment income
4
Other income
Total
EXPENDITURE ON
Raising funds
6
Charitable activities
7
Daycare
Bathing Service
Advice and Information
Handyman
Independent Living Service
Footcare
Befriending
Advocacy
Dementia Centre
Transport Service
Consortia
Meals on wheels service
Total
NET INCOME/(EXPENDITURE)
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
10,099
612,004
15,773
-
65,189
217,340
34,264
-
9,814
460
56,353
18,267
11
34,633
1,074,207
-
110,755
29,944
13,214
68,075
229,079
33,997
16,512
13,215
37,091
15,606
3,176
67,641
638,305
435,902
265,295
**701,197 **		 Restricted
funds
£
-
16,019
-
-
-
-
-
-
-
-
-
-
-
-
16,019
-
-
-
-
-
-
-
-
-
-
-
-
-
-
16,019
57,141
73,160		 2021
Total
funds
£
10,099
628,023
15,773
-
65,189
217,340
34,264
-
9,814
460
56,353
18,267
11
34,633
1,090,226
-
110,755
29,944
13,214
68,075
229,079
33,997
16,512
13,215
37,091
15,606
3,176
67,641
638,305
451,921
322,436
**774,357 **		 2020
Total
funds
£
62,458
320,587
23,405
3,421
57,314
214,259
79,240
15,535
175,449
41,665
-
8,855
95
29,921
1,032,204
11,049
240,211
73,159
36,402
38,965
197,544
64,192
57,295
66,268
159,738
69,738
45,233
-
1,059,794
(27,590)
350,026
322,436

The notes form part of these financial statements

Page 9

Age UK Maidstone

Statement of Financial Position 31 March 2021

Notes
FIXED ASSETS
Tangible assets
12
CURRENT ASSETS
Debtors
13
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
14
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS
Amounts falling due after more than one year
15
NET ASSETS
FUNDS
19
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
funds
£
334,899
40,182
540,320
580,502
(39,873)
540,629
875,528
(174,331)
**701,197 **		 Restricted
funds
£
57,141
-
16,019
16,019
-
16,019
73,160
-
73,160		 2021
Total
funds
£
392,040
40,182
556,339
596,521
(39,873)
556,648
948,688
(174,331)
774,357
701,197
73,160
**774,357 **		 2020
Total
funds
£
406,094
27,425
162,048
189,473
(93,346)
96,127
502,221
(179,785)
322,436
265,295
57,141
322,436

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements.

The trustees acknowledge their responsibilities for

These financial statements have been audited under the requirements of Section 145 of the Charities Act 2011.

The financial statements were approved by the Board of Trustees and authorised for issue on 26 January 2022 and were signed on its behalf by:

Jess Kuller

J Kuller - Trustee

The notes form part of these financial statements

Page 10

Age UK Maidstone

Statement of Cash Flows for the year ended 31 March 2021

Notes
Cash flows from operating activities
Cash generated from operations
1
Interest paid
Net cash provided by/(used in) operating activities
Cash flows from investing activities
Sale of tangible fixed assets
Interest received
Net cash provided by investing activities
Cash flows from financing activities
New loans in year
Loan repayments in year
Capital repayments in year
Net cash (used in)/provided by financing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2021
£
405,067
(5,700)
399,367
2,400
11
2,411
-
(5,911)
(1,576)
(7,487)
394,291
162,048
556,339		 2020
£
(12,135)
(4,204)
(16,339)
-
95
95
200,000
(68,797)
(3,052)
128,151
111,907
50,141
162,048

The notes form part of these financial statements

Page 11

Age UK Maidstone

Notes to the Statement of Cash Flows for the year ended 31 March 2021

1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income/(expenditure) for the reporting period (as per the Statement
of Financial Activities)
Adjustments for:
Depreciation charges
Profit on disposal of fixed assets
Interest received
Interest paid
Decrease in stocks
Increase in debtors
Decrease in creditors
Net cash provided by/(used in) operations		 2021
£
451,921
14,235
(2,400)
(11)
5,700
-
(12,757)
(51,621)
**405,067 **		 2020
£
(27,590)
16,458
-
(95)
4,204
8
(1,430)
(3,690)
(12,135)

2. ANALYSIS OF CHANGES IN NET (DEBT)/FUNDS

At 1/4/20 Cash flow At 31/3/21
£ £ £
Net cash
Cash at bank and in hand 162,048 **394,291 ** 556,339
162,048 **394,291 ** 556,339
Debt
Finance leases (1,576) 1,576 -
Debts falling due within 1 year (17,424) 276 (17,148)
Debts falling due after 1 year (179,785) **5,454 ** (174,331)
(198,785) 7,306 (191,479)
Total (36,737) **401,597 ** 364,860

The notes form part of these financial statements

Page 12

Age UK Maidstone Notes to the Financial Statements for the year ended 31 March 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Allocation and apportionment of costs

The cost of overall direction and administration on each activity, comprising the salary and overhead costs of the central function, is apportioned on the following basis which are an estimate, based on staff time, of the amount attributable to each activity:

Daycare 30 %
Bathing Service 10%
Advice and Information 5%
Handyman Service 4%
Independent Living Service 11%
Footcare 3%
Befriending 6%
Advocacy 20%
Dementia Service 7%
Transport 4%

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property - 2% on cost Plant and machinery - 15% on cost Motor vehicles - 25% on cost and 25% on reducing balance

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the Statement of Financial Position. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.

The interest element of these obligations is charged to the Statement of Financial Activities over the relevant period. The capital element of the future payments is treated as a liability.

Page 13

continued...

Age UK Maidstone Notes to the Financial Statements - continued for the year ended 31 March 2021

1. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2. DONATIONS AND LEGACIES

Donations
Gift aid
3.
OTHER TRADING ACTIVITIES
Fundraising events
Insurance commission
4.
INVESTMENT INCOME
Deposit account interest
5.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Client Contributions
Daycare
Exercise and Socialise
Daycare
Grants
Daycare
Client Contributions
Bathing Service
Grants
Advice and Information
Client Contributions
Handyman
Client Contributions
Independent Living Service
Client Contributions
Footcare
Grants
Befriending
Client Contributions
Dementia Centre
Grants
Dementia Centre
Client Contributions
Transport Service
Grants
Transport Service
Client Contributions
Meals on wheels service		 2021
£
8,850
1,249
10,099
2021
£
18,267
-
18,267
2021
£
11
2021
£
2,669
-
625,354
15,773
-
65,189
217,340
34,264
-
9,814
-
460
-
56,353
1,027,216		 2020
£
60,502
1,956
62,458
2020
£
8,620
235
8,855
2020
£
95
2020
£
92,564
1,976
226,047
23,405
3,421
57,314
214,259
79,240
15,535
173,199
2,250
38,725
2,940
-
930,875		 2020
£
60,502
1,956
62,458
2020
£
8,620
235
8,855

Page 14

continued...

Age UK Maidstone

Notes to the Financial Statements - continued for the year ended 31 March 2021

5. INCOME FROM CHARITABLE ACTIVITIES - continued

Grants received, included in the above, are as follows:

Local Authority
Lottery
Maidstone Bourough
Age UK
Other Grants
Post Code Lottery
KCC Community Grant
Veterans
RAISING FUNDS
Raising donations and legacies
Staff costs
Staff Travel
CHARITABLE ACTIVITIES COSTS
Daycare
Bathing Service
Advice and Information
Handyman
Independent Living Service
Footcare
Befriending
Advocacy
Dementia Centre
Transport Service
Consortia
Meals on wheels service
SUPPORT COSTS
Management
£
Daycare
81,088
Bathing Service
5,066
Advice and Information
12,670
Handyman
15,206
Independent Living Service
65,887
Footcare
7,602
Befriending
12,671
Advocacy
12,671
Dementia Centre
15,206
Transport Service
12,671
Carried forward
240,738		 2021
£
560,995
9,655
-
38,685
-
-
-
16,019
625,354
2021
£
-
-
-
Support
Direct
costs (see
Costs
note 8)
£
£
26,188
84,567
24,661
5,283
-
13,214
52,217
15,858
160,365
68,714
26,069
7,928
3,297
13,215
-
13,215
21,233
15,858
2,391
13,215
3,176
-
54,426
13,215
374,023
264,282
Governance
Finance
costs
£
£
2,327
1,152
145
72
364
180
436
216
1,891
936
218
108
364
180
364
180
436
216
364
180
6,909
3,420		 2020
£
219,409
3,045
3,421
500
15,285
8,533
-
250,193
2020
£
10,785
264
11,049
Totals
£
110,755
29,944
13,214
68,075
229,079
33,997
16,512
13,215
37,091
15,606
3,176
67,641
638,305
Totals
£
84,567
5,283
13,214
15,858
68,714
7,928
13,215
13,215
15,858
13,215
251,067

6. RAISING FUNDS

7. CHARITABLE ACTIVITIES COSTS

8. SUPPORT COSTS

Page 15

continued...

Age UK Maidstone

Notes to the Financial Statements - continued for the year ended 31 March 2021

8. SUPPORT COSTS - continued

Management
£
Brought forward
240,738
Meals on wheels service
12,671
253,409
Activity
Basis of allocation
Management
Staff activity
Finance
Staff activity
Governance costs
Staff activity		 Governance
Finance
costs
£
£
6,909
3,420
364
180
7,273
3,600		 Totals
£
251,067
13,215
264,282

9. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

Auditors remuneration
Depreciation - owned assets
Depreciation - assets on hire purchase contracts and finance leases
Other operating leases
Surplus on disposal of fixed assets		 2021
£
3,600
11,895
2,159
2,796
**(2,400) **		 2020
£
6,775
14,299
2,158
3,144
-

10. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.

11. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Admin and Management
Day Activities
Independent Living Service		 2021
£
425,118
23,720
8,451
457,289
2021
7
8
30
45		 2020
£
659,352
26,305
12,068
697,725
2020
7
25
36
68

No employees received emoluments in excess of £60,000.

The Emoluments of the Chief Executive was £ 55,090

Page 16

continued...

Age UK Maidstone

Notes to the Financial Statements - continued for the year ended 31 March 2021

12. TANGIBLE FIXED ASSETS

COST
At 1 April 2020
Disposals
At 31 March 2021
DEPRECIATION
At 1 April 2020
Charge for year
Eliminated on disposal
At 31 March 2021
NET BOOK VALUE
At 31 March 2021
At 31 March 2020		 Freehold
property
£
493,831
-
493,831
94,447
10,497
-
104,944
388,887
399,384		 Plant and
machinery
£
82,127
-
82,127
77,575
1,399
-
78,974
3,153
4,552		 Motor
vehicles
£
301,371
(6,616)
294,755
299,213
2,158
(6,616)
294,755
-
2,158		 Totals
£
877,329
(6,616)
870,713
471,235
14,054
(6,616)
478,673
392,040
406,094

Fixed assets, included in the above, which are held under finance leases are as follows:

COST
At 1 April 2020 and 31 March 2021
DEPRECIATION
At 1 April 2020
Charge for year
At 31 March 2021
NET BOOK VALUE
At 31 March 2021
At 31 March 2020
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
HMRC JRS
Prepayments		 2021
£
27,582
5,911
6,689
**40,182 **		 Motor
vehicles
£
8,634
6,475
2,159
8,634
-
2,159
2020
£
12,948
-
14,477
27,425

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Page 17

continued...

Age UK Maidstone

Notes to the Financial Statements - continued for the year ended 31 March 2021

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

14.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans (see note 16)
Finance leases (see note 17)
Trade creditors
Social security and other taxes
Pension Control
Accrued expenses
15.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Bank loans (see note 16)
16.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank loans
Amounts falling between one and two years:
Bank loans - 1-2 years
Amounts falling due between two and five years:
Bank loans - 2-5 years
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans more 5 yr by instal
17.
LEASING AGREEMENTS
Minimum lease payments under finance leases fall due as follows:
Net obligations repayable:
Within one year		 2021
2020
£
£
17,148
17,424
-
1,576
13,364
59,465
-
8,344
1,414
2,337
7,947
4,200
39,873
93,346
2021
2020
£
£
174,331
179,785
2021
2020
£
£
17,148
17,424
17,148
17,424
51,445
52,272
105,738
110,089
Finance leases
2021
2020
£
£
-
1,576		 2020
£
17,424
1,576
59,465
8,344
2,337
4,200
93,346
2020
£
179,785
2020
£
17,424
17,424
52,272

Page 18

continued...

Age UK Maidstone

Notes to the Financial Statements - continued for the year ended 31 March 2021

18. SECURED DEBTS

The following secured debts are included within creditors:

Bank loans 2021
£
191,479		 2020
£
197,209

The loans are secured by a charge over 6 Egremont Road, Bearsted, Kent ME15 8LH dated 22/02/2010 and 7 Mill Street, Maidstone, Kent, ME15 6XW dated 08/06/2012.

19. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Day Care Contingency
Mill Street Property
Restricted funds
Dementia Centre
Minibus Replacement
Development Fund
Veteran Fund
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Veteran Fund
TOTAL FUNDS		 At 1/4/20
£
150,302
10,000
104,993
265,295
9,000
44,608
3,533
-
57,141
322,436
Incoming
resources
£
1,074,207
16,019
1,090,226		 Net
movement
in funds
£
435,902
-
-
435,902
-
-
-
16,019
16,019
451,921
Resources
expended
£
(638,305)
-
**(638,305) **		 At
31/3/21
£
586,204
10,000
104,993
701,197
9,000
44,608
3,533
16,019
73,160
774,357
Movement
in funds
£
435,902
16,019
451,921

Page 19

continued...

Age UK Maidstone

Notes to the Financial Statements - continued for the year ended 31 March 2021

19. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
Day Care Contingency
Mill Street Property
Restricted funds
Dementia Centre
Voucher Scheme
Consortia
Minibus Replacement
Development Fund
TOTAL FUNDS		 At 1/4/19
£
134,713
10,000
104,993
249,706
10,000
11,701
13,002
44,608
21,009
100,320
350,026		 Net
movement
in funds
£
15,589
-
-
15,589
(1,000)
(11,701)
(13,002)
-
(17,476)
(43,179)
(27,590)		 At
31/3/20
£
150,302
10,000
104,993
265,295
9,000
-
-
44,608
3,533
57,141
322,436

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Dementia Centre
Voucher Scheme
Consortia
Development Fund
TOTAL FUNDS		 Incoming
resources
£
1,032,204
-
-
-
-
-
1,032,204		 Resources
expended
£
(1,016,615)
(1,000)
(11,701)
(13,002)
(17,476)
(43,179)
(1,059,794)		 Movement
in funds
£
15,589
(1,000)
(11,701)
(13,002)
(17,476)
(43,179)
(27,590)

20. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2021.

Page 20