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2022-03-31-accounts

Carers Lewisham Annual Report and Financial Statements Year Ended 31st March 2022

Charity registration number: 1073592 Company registration number: 03681548

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Carers Lewisham

Annual Report and Financial Statements

Year Ended 31[st] March 2022

Contents

Page
Charity Reference and Administrative Details 3
Trustees’ Annual Report (Including Directors’ Report) 4
Independent Auditor’s Report 10
Statement of Financial Activities (Including Income and Expenditure Account) 13
Balance Sheet 14
Notes to the Financial Statements 15

Carers Lewisham

Charity Reference and Administrative Details

Year Ended 31[st] March 2022

Trustees J Cook D D’Elia V Fulcher N Hervey Charity registration number 1073592 Company registration number 03681548 Chief Executive T Spilsbury Registered office Lewisham Carers Centre Waldram Place Forest Hill London SE23 2LB Auditor Azets Audit Services Gladstone House 77-79 High Street Egham Surrey TW20 9HY

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Carers Lewisham

Trustees’ Annual Report

Year Ended 31st March 2022

The Trustees present their report and the audited financial statements of the charity for the year ended 31st March 2022. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” in preparing the annual report and financial statements of the charity.

This report serves the purposes of both a Trustees’ report and directors’ report under company law.

Trustees of the charity

The directors of the charitable company are its trustees for the purposes of charity law. The trustees who have served during the year and since the year end were as follows:

J Cook D D’Elia V Fulcher N Hervey

Objectives and activities

Objectives

The objects of the charity (the "Objects") are:−

i) To alleviate the conditions of life amongst people who are caring for who have cared or elderly, sick, disabled, handicapped or otherwise infirm persons at home hereinafter called “Carers” and who are in necessitous circumstances and of dependents of Carers being dependents who are themselves in necessitous circumstances.

ii) To relieve and alleviate and to advance, promote, encourage and assist in the relief or alleviation of all kinds of mental and physical infirmity, sickness, disablement or handicap including mental illness attributable to caring amongst Carers and those persons for whom they are caring.

iii) To advance education concerning caring amongst Carers and the public.

Providing that Carers or those persons for whom Carers are caring reside or work in the London Borough of Lewisham.

In setting these objectives, the Trustees have had due regard to public benefit guidance published by the Charity Commission, in accordance with their duty under section 17 of the Charities Act 2011.

The charity seeks to meet these charitable objectives through the following:

As of June 10th 2019 the charity’s Board of Trustees voted to a change of control and become a wholly owned subsidiary of Your Voice in Health and Social Care (YVHSC). Your Voice in Health and Social Care had successfully bid for the adult services contract and is a charitable organisation similar to the charity. Both organisations' aims and objectives are comparable to not require amendment under the change of control agreement and agreement by the Charity Commission. The agreement provides financial stability for the charity and adds value to the organisations as a whole. The Carers Lewisham Board becomes a Committee of Your Voice in Health and Social Care providing advice and strategic guidance while all aspects of governance rests with YVHSC.

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Carers Lewisham

Trustees’ Annual Report

Year Ended 31st March 2022

Objectives and activities (continued)

Objectives (continued)

The aims remain focussed on providing support to Carers in particular through the established projects for Young Carers, Carers seeking employment, Carers of people with Dementia and our counselling service.

The vision remains, that all Carers in the London Borough of Lewisham are recognised, valued, empowered and supported, whatever their background, age, ethnicity, language, culture, religion, gender or sexuality.

The majority of resources are expended on staff costs as services provided by the charity are very labour intensive.

Beneficiaries

A carer is defined as someone who spends a proportion of their life providing unpaid support and care to a friend or family member who - due to illness, age, disability, mental health or addiction - cannot cope without their support. It includes parents caring for a child with disabilities or a young person caring for a parent, family member or sibling.

Each carer's experience is unique to their own circumstances and the causes of taking on caring responsibilities can be varied and multiple, including:

Just as the reasons why someone becomes a carer vary greatly, the variety of tasks that a carer fulfils is diverse. They can include the following duties:

Although the distinction is often made between a full-time or part-time carer, there is not a minimum time requirement or age restriction that "qualifies" someone as being more or less of a carer.

There is a considerable body of evidence which points to the adverse impact on health, future employment and education opportunities as well as the social and leisure activities of those providing unpaid care.

Activities Undertaken

There are 3,227 active carers on our database. This means they are receiving regular information about our services and activities/workshops/groups via email or post (unless they have asked not to).

It is difficult to say exactly how many carers we are providing "ongoing support" to, as many carers need practical advice information with a specific issue and when this is solved can manage their caring situation independently. They are however still likely to attend workshops etc. which fit their interests, learning needs and lifestyle. Many carers also come back for advice/information/support when something unexpected happens in their caring situation/life.

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Carers Lewisham

Trustees’ Annual Report

Year Ended 31st March 2022

Objectives and activities (continued)

Activities Undertaken (continued)

We do not have a large number of re-occurring support groups - instead we focus on workshops and events that are relevant, informative and/or enjoyable for carers allowing them to create natural peer-supporting relationships. This is a strategy based on feedback and previous experiences of what our carers said they wanted and needed.

Young Carers (funded by Phoenix, BBC Children in Need, and London Borough of Lewisham) The current Young Carers (YC) service has continued to run successfully and has funding going forward into 2025.

The service continues to run holiday workshops and a summer beach trip. Staff also set up a partnership between the charity and NCS The Challenge to have one of their young adult groups work with our charity. Ten to twelve young people (aged 15-17) came to our office to help decorate some of the rooms.

The YC staff created a new set of surveys for the Young Carers who participate in the trips they organise. They have also revised and implemented a new parent survey which was used this summer. The YC mailing list has been updated in year by cross referencing with the attendance sheet from the outings to create a final address list. By sending out the surveys to last year's participants, we were be able to provide Phoenix much needed data for the year-end report. As an incentive the parents who returned surveys got priority on the Saturday autumn trips.

The YC service is well known and recently was contacted by a playwright and director (Alfie James) to write and produce a play about the lives of carers. The director wants to perform it locally and invited CL, together with the carers, to collaborate on the script and maybe even the acting.

Counselling Service

Clients receiving counselling on site and remotely as a on-going form of support in their day to day lives and with bereavement.

We are looking to grow the counselling department as a resource within Lewisham, but in future are hoping to offer a service paid for by Corporates for their staff that are carers.

Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

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Carers Lewisham

Trustees’ Annual Report

Year Ended 31st March 2022

b. Reserves policy

The main source of funding for the charity is contracts for services with the London Borough of Lewisham. The main expenditure of the charity is on staff costs.

The Trustees consider that the maximum level of reserves should be approximately three months of total recurring expenditure, equating to £77,000 for 2022. In line with Charity Commission recommendations we will focus on making provisions for unrestricted reserves and ensuring the levels remain adequate to ensure the following:

In addition, there are certain underlying needs identified by the Trustees, which are explained below. The Trustees deem it necessary to set aside cover for the loss or reduction of statutory or other funding of specific projects and to provide for any such project that suffers accordingly. Generally, projects are funded on a two−year basis and it will be our policy to set aside reserves for where funding is not renewed. The Trustees, aware of the responsibility, have taken, and will continue to take, every step available to obtain, where possible, the increased funding necessary to continue their operation or provide for closure costs. i.e. statutory redundancy payments in the case of failed or insufficient funding. The board of Trustees will continue to monitor the levels of all reserves and reviews will be made on a quarterly basis, using, where available, the latest budget information.

During the year, the trustees reviewed the charity’s income streams. The trustees identified that income from several of the charity’s contracts had historically been reported as restricted funding. The trustees have therefore made a fund transfer during the year, to move historic balances on these contracts to unrestricted funds.

The trustees have reviewed the restricted grant awards that the charity has received. These include grants from The Jack Petchey Charity and The Screwfix Charity. The trustees consider these grants to be fully utilised as at 31 March 2022.

As at 31 March 2022, the charity held reserves of £747,897 (2021: £749,323) of which £nil (2021: £91,894) related to restricted funds. The reserves include tangible fixed assets of £703,776 (2021: £719,290).

As at 31 March 2022, the charity held free reserves of £44,121 (2021: (£61,861)), which is below the target level set by the Trustees. Plans are in place to seek new funding streams in the coming years, which are expected to improve the charity's free reserve position.

c. Remuneration of key management

The charity considers its key management personnel to be the Trustees and the Chief Executive. The Chief Executive is remunerated through the parent charity, Your Voice in Health and Social Care.

Remuneration of management is benchmarked against other comparable organisations identified both on income and accountability; special attention is given to the organisations responsibilities as a deliverer of statutory responsibilities. In the case of the Chief Executive the salary is adjusted on previous experience and incorporates a bonus structure based on performance.

d. Fundraising

The charity does not actively undertake fundraising activities but is often the recipient of financial contribution via donation and legacy.

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Carers Lewisham

Trustees’ Annual Report

Year Ended 31st March 2022

e. Risk Management

The Board has instructed the Chief Executive to conduct a review of the major risks to which the charity is exposed. A risk register has been established and will be updated annually. The key risks faced by the charity include loss of income to core contractual income and a review of the fixed asset based at Waldram Place, Forest Hill, SE23. The property is on leasehold to Carers Lewisham for 77 years but a fit for purpose review is under way.

Structure, governance and management

a. Constitution

The charity is a charitable company limited by guarantee, and was incorporated on 10 December 1998. It is also a registered charity and became registered with the Charity Commission on 10 December 1998.

b. Governing Document

The charitable company is controlled by its governing document, the memorandum and articles of association, adopted on 10 December 1998.

c. Recruitment and appointment of Trustees

New Trustees are introduced to the charity by meetings with the Chair and Chief Executive where they are briefed on the workings of the charity and their responsibilities. They are then invited to attend a committee meeting as an observer.

e. Trustee induction and training

On appointment, Trustees are then given an induction pack that includes details on:

Plans for future periods

Due to the financial pressures prevalent across the Health and Social Care sector, the charity is seeking to focus all activities on core funded contracts with less expenditure on activities and services that are not secured.

Part of this is the change to service delivery for the counselling service. Carers wishing to access the service are still able to do so for free for the first 10-12 sessions (need assessed) but the service then reverts to fee paying for subsequent sessions to support the service as a viable on-going concern.

The charity will seek to bid for further Carers contracts and work closely with the national body to secure additional and carer focussed funding.

Waldram Place will have a feasibility study conducted to ascertain the viability of the property as an on-going concern. It may be more suitable to move the charity to a smaller venue that offers less drain on resource.

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Carers Lewisham

Trustees’ Annual Report

Year Ended 31st March 2022

Plans for future periods (continued)

Part of this study will also explore options for retaining the premises such as room hire, venue hire and rental agreements to partner organisations.

The charity will not be bidding on contracts that fail to meet a minimum central cost contribution threshold so as to support efficiency and enable growth of adequate reserves.

Statement of Trustees' responsibilities

The Trustees (who are also the directors of the Company for the purposes 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. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of their incoming resources and application of resources, including their income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company 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 Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to the auditors

We, the directors of the company who held office at the date of approval of these Financial Statements as set out above each confirm, so far as we are aware, that:

In preparing this report, the Trustees have taken advantage of the small companies exemptions provided by section 415a of the Companies Act 2006. Preparing the accounts for a small company does not require the preparation of a Strategic Report, although much of the typical content is included within the Trustees' report.

Approved by order of the members of the board of Trustees on 25 May 2023 and signed on their behalf by

V Fulcher Chair of Trustees

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Carers Lewisham

Independent Auditor’s Report to the members of Carers Lewisham

Opinion

We have audited the financial statements of Carers Lewisham (the ‘charitable company’) for the year ended 31 March 2022 which comprise the Statement of Financial Activities, Balance Sheet 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 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 other information comprises the information included in the trustees 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 the audit:

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Carers Lewisham

Independent Auditor’s Report to the members of Carers Lewisham

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ 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 trustees’ responsibilities statement set out on page 9, 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.

Auditor 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.

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

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 of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

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Carers Lewisham

Independent Auditor’s Report to the members of Carers Lewisham

Auditor responsibilities for the audit of the financial statements (continued)

A further description of our responsibilities is available on the FRC's website www.frc.org.uk/auditorsresponsibilities. This forms part of our auditor’s report.

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 auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the 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.

…………………………………………………...

Paul Creasey FCA (Senior Statutory Auditor) For an on behalf of Azets Audit Services Chartered Accountants and Statutory Auditor Egham 25 May 2023

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Carers Lewisham

Statement of Financial Activities (Including Income and Expenditure Account)

Year Ended 31st March 2022

Note
Income and endowments from:
Donations and legacies
2
Charitable activities
3
Other
4
Total income and endowments
Expenditure on:
Charitable activities
6
Total expenditure
Net expenditure
Transfers between funds
Net movement in funds
14
Reconciliation of funds:
Total funds brought forward
14
Total funds carried forward
14		 2022
Unrestricted
funds
Restricted funds
Total
£
£
£
15,989
-
15,989
241,641
25,050
266,691
-
-
-
257,630
25,050
282,680
259,056
25,050
284,106
259,056
25,050
284,106
(1,426)
-
(1,426)
91,894
(91,894)
-
90,468
(91,894)
(1,426)
657,429
91,894
749,323
747,897
-
747,897		 2021
Total
£
1,413
328,102
3,450
332,965
545,836
545,836
(212,871)
-
(212,871)
962,194
749,323

All income and expenditure derive from continuing activities.

The statement of financial activities includes all gains and losses recognised during the year.

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Carers Lewisham

Balance Sheet

Year Ended 31st March 2022

Note
Fixed assets
Tangible assets
11
Current assets
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within one year
13
Net current assets
Net assets
Charity Funds
Restricted funds
14
Unrestricted funds
14
Total charity funds
14		 2022
£
703,776
703,776
37,498
20,028
57,526
(13,405)
44,121
747,897
-
747,897
747,897		 2021
£
719,290
719,290
46,345
4,320
50,665
(20,632)
30,033
749,323
91,894
657,429
749,323

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

The financial statements were approved and authorised for issue by the Board on 25 May 2023.

Signed on behalf of the board of trustees

V Fulcher Chair of Trustees

The notes on pages Page 14 to Page 23 form part of these financial statements.

Company registration number: 03681548

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Carers Lewisham

Notes to the Financial Statements

Year Ended 31st March 2022

1 Summary of significant accounting policies

(a) General information and basis of preparation

Carers Lewisham is a charitable company limited by guarantee, registered in England and Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 3 of these financial statements.

The financial statements have been prepared in accordance 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 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at valuation. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

(b) Funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

(c) Income recognition

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.

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Carers Lewisham

Notes to the Financial Statements

Year Ended 31st March 2022

(d) Expenditure recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:

Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

(e) Support costs allocation

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular headings they have been allocated to expenditure on charitable activities on a basis consistent with level of funding received for each activity.

The analysis of these costs is included in note 6.

(f) Tangible fixed assets

Fixtures and fittings are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

The Trustees have adopted a policy of revaluation for the leasehold property.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Leasehold land and buildings Straight line over 50 years Fixtures and fittings Straight line over 4 years

(g) Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

(h) Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset’s cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

(i) Provisions

Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

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Carers Lewisham

Notes to the Financial Statements

Year Ended 31st March 2022

(j) Employee benefits

When employees have rendered service to the charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The charity operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

(k) Tax

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

(l) Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The charity has won two new contracts worth £450,000 per annum.

The Trustees aim to increase operational reserves to meet their target of holding and amount equivalent to three months’ worth of expenditure. This will be achieved through efficiency and contract reviews. Steps already taken include contract price reviews, consideration of options for the future of Waldram Place and possible outsourcing of central charity roles.

Trustees consider these actions will be adequate to enable the charity to be able to continue as a going concern.

(m) 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.

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.

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.

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Carers Lewisham

Notes to the Financial Statements

Year Ended 31st March 2022

Basic financial liabilities (continued)

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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.

Derecognition of financial liabilities

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

(n) Judgements and key sources of estimation uncertainty

No significant judgements (apart from those involving estimates) have been made in the process of applying the above accounting policies.

The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year include:

The Leasehold property is included in the financial statements at valuation. This value was set in 2017 and is due for revision.

2 Income from donations and legacies

Unrestricted funds
Donations
3
Income from charitable activities
Restricted funds
Performance related grants
Other
Unrestricted funds
Contractual payments
4
Other income
Unrestricted funds
Other		 2022
£
15,989
2022
£
25,050
-
241,641
266,691
2022
£
-		 2021
£
1,413
2021
£
-
328,102
-
328,102
2021
£
3,450

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Carers Lewisham

Notes to the Financial Statements

Year Ended 31st March 2022

5 Analysis of expenditure on charitable activities

a)Summary by activity
Adults
Children & Young People
Adults
Children & Young People
b)Summary by fund
Adults
Children & Young People		 Activities undertaken
directly
Support costs
Total
2022
2022
2022
£
£
£
180,662
103,444
284,106
-
-
-
180,662
103,444
284,106
Activities undertaken
directly
Support costs
Total
2021
2021
2021
£
£
£
417,161
128,550
545,711
125
-
125
417,286
128,550
545,836
Unrestricted funds
Restricted funds
Total
2022
2022
2022
£
£
£
259,056
25,050
284,106
-
-
-
259,056
25,050
284,106
Adults
Children & Young People		 Unrestricted funds
Restricted funds
Total
2021
2021
2021
£
£
£
35,245
510,466
545,711
-
125
125
35,245
510,591
545,836

19

Carers Lewisham

Notes to the Financial Statements

Year Ended 31st March 2022

6 Allocation of support costs

Support cost 2022
Staff costs
Governance
Postage, printing and
stationary
ICT Maintenance
Telephone and Internet
Depreciation
Rates
Light and heat
Subscriptions
Other
Total		 Basis of
allocation
2022
Proportion of
income
received for
activity
Adults Total
£ £
2022 2022
50,783 50,783
18,101 18,101
6,999 6,999
3,190 3,190
3,290 3,290
18,229 18,229
1,808 1,808
3,438 3,438
2,692 2,692
(5,086) (5,086)
103,444 103,444

6 Allocation of support costs (continued)

Support cost 2021
Governance
Postage, printing and
stationary
ICT Maintenance
Telephone and Internet
Depreciation
Rates
Light and heat
Subscriptions
Other
Total		 Basis of
allocation
2021
Proportion of
income
received for
activity		 Adults
Total
£
£
2021
2021
5,880
5,880
6,199
6,199
3,719
3,719
9,865
9,865
35,245
35,245
5,882
5,882
6,877
6,877
362
362
54,521
54,521
128,550
128,550

20

Carers Lewisham

Notes to the Financial Statements

Year Ended 31st March 2022

7 Governance costs

Auditor’s remuneration: Audit services
Non-audit services
Prior year auditor: Adjustment regarding 2021
Legal fees
Other
et income / (expenditure) for the year
et income / (expenditure) is stated after charging / (crediting):
Depreciation of tangible fixed assets		 2022
2021
£
£
6,950
3,000
1,415
-
(2,400)
-
11,356
-
780
2,880
18,101
5,880
2022
2021
£
£
18,229
35,245

8 Net income / (expenditure) for the year Net income / (expenditure) is stated after charging / (crediting):

9 Trustees' and key management personnel remuneration and expenses

The trustees neither received nor waived any remuneration during the year (2021: £Nil).

The total amount of employee benefits received by key management personnel is £Nil (2021 - £Nil). The Trust considers its key management personnel compromise the trustees and the Chief Executive. The Chief Executive is remunerated through the parent charity, Your Voice in Health and Social Care.

The trustees did not have any expenses reimbursed during the year (2021 - £Nil).

10 Staff costs and employee benefits

The average monthly number of employees during the Year was as follows:

Carers Support
Admin and Support
Management		 2022
2021
Number
Number
8
5
1
2
2
3
11
10

21

Carers Lewisham

Notes to the Financial Statements

Year Ended 31st March 2022

10 Staff costs and employee benefits (continued)

The total staff costs and employee benefits were as follows:

Wages and salaries
Social security
Defined contribution pension costs		 2022
£
200,106
11,868
6,145
218,119		 2021
£
383,100
-
9,908
393,008

No employees received total employee benefits (excluding employer pension costs) of more than £60,000.

11 Tangible fixed assets

Cost or valuation:
At 1 April 2021
Additions
At 31 March 2022
Depreciation:
At 1 April 2021
Charge for the year
At 31 March 2022
Net book value:
At 31 March 2022
At 31 March 2021
The net book value of land and buildings comprised:
Land and buildings:
Long leasehold		 Land and
buildings
Computer
equipment
Total
£
£
£
775,956
140,426
916,382
-
2,715
2,715
775,956
143,141
919,097
62,076
135,016
197,092
15,519
2,710
18,229
77,595
137,726
215,321
698,361
5,415
703,776
713,880
5,410
719,290
2022
2021
£
£
698,361
713,880

22

Carers Lewisham

Notes to the Financial Statements

Year Ended 31st March 2022

11 Tangible fixed assets (continued)

Tangible fixed assets held at valuation

The historic cost equivalent of land and buildings included at valuation are as follows:

Cost
Accumulated depreciation
Net book value		 2022
2021
Land and
buildings
Land and
buildings
£
£
187,914
187,914
(18,791)
(15,033)
169,123
172,881

The leasehold property was revalued in the year ended 31 March 2017, based on an informal valuation conducted by Holly Purvis BA Hons PG Dip Surv MRICS of Stiles Harold Williams Partnership LLP.

12 Debtors

Trade debtors
reditors: amounts falling due within one year
Trade creditors
Other tax and social security
Other creditors
Accruals and deferred income		 2022
£
37,498
2022
£
(6)
4,054
1,592
7,765
13,405		 2021
£
46,345
2021
£
(6)
-
20,638
-
20,632

13 Creditors: amounts falling due within one year

14 Fund reconciliation

Unrestricted funds

Unrestricted
Revaluation
reserve		 Balance at
1 April
2021
Income
Expenditure
Transfers
Balance at
31 March
2022
£
£
£
£
£
(24,765)
257,630
(259,056)
150,698
124,507
682,194
-
-
(58,804)
623,390
657,429
257,630
(259,056)
91,894
747,897

23

Carers Lewisham

Notes to the Financial Statements

Year Ended 31st March 2022

14 Fund reconciliation (continued)

Unrestricted funds (continued)

Unrestricted
Revaluation
reserve		 Balance at
1 April
2020
Income
Expenditure
Transfers
Balance at
31 March
2021
£
£
£
£
£
5,617
4,863
(35,245)
-
(24,765)
682,194
-
-
-
682,194
687,811
4,863
(35,245)
-
657,429

Restricted funds

General
Restricted
General
Restricted		 Balance at
1 April
2021
Income
Expenditure
Transfers
Balance at
31 March
2022
£
£
£
£
£
91,894
25,050
(25,050)
(91,894)
-
Balance at
1 April
2020
Income
Expenditure
Transfers
Balance at
31 March
2021
£
£
£
£
£
274,383
328,102
(510,591)
-
91,894

Fund descriptions

a) Unrestricted funds

This represents funds received to support the charitable activities of the organisation, without restriction on use. The transfers are explained in sections (b) and (c) below.

b) Revaluation reserve

This represents the valuation uplift on the charity’s leasehold property. A transfer is made to unrestricted funds to offset the depreciation charged on the valuation uplift. There is no tax impact from this transaction.

24

Carers Lewisham

Notes to the Financial Statements

Year Ended 31st March 2022

14 Fund reconciliation (continued)

Fund descriptions (continued)

c) Restricted funds

This represents specific grant funding received for the charity’s work on Carers in Employment, Young Carers and dementia support.

During the year, the trustees reviewed the charity’s income streams. The trustees identified that income from several of the charity’s contracts had historically been reported as restricted funding. The trustees have therefore made a fund transfer during the year, to move historic balances on these contracts to unrestricted funds.

The trustees have reviewed the restricted grant awards that the charity has received. These include grants from The Jack Petchey Charity and The Screwfix Charity. The trustees consider these grants to be fully utilised as at 31 March 2022.

15 Analysis of net assets between funds

Tangible Fixed assets
Net current assets
Total
Tangible Fixed assets
Net current assets
Total		 Unrestricted
funds
Revaluation
reserve
Restricted
funds
Total
2022
2022
2022
2022
£
£
£
£
80,386
623,390
-
703,776
44,121
-
-
44,121
124,507
623,390
-
747,897
Unrestricted
funds
Revaluation
reserve
Restricted
funds
Total
2021
2021
2021
2021
£
£
£
£
37,096
682,194
-
719,290
(61,861)
-
91,894
30,033
(24,765)
682,194
91,894
749,323

16 Related party transactions

The charity is a wholly-owned subsidiary of Your Voice in Health and Social Care, a charitable company registered in England & Wales (Company registration number 08397315; Charity registration number 1154672).

During the year, the charity paid £20,000 (2021: £20,000) to Your Voice in Health and Social Care, as contribution to central costs. No amounts were outstanding (2021: £Nil) at year end.

25

Carers Lewisham

Notes to the Financial Statements

Year Ended 31st March 2022

17 Financial Instruments

The charity held the following financial instruments, measured at amortised cost:

Trade debtors
Trade creditors
Other creditors		 2022
£
37,498
(6)
1,592
1,586		 2021
£
46,345
(6)
-
(6)

26