LAMBETH ELDERLY ASSOCIATION FROM VIETNAM UNAUDITED FINANCIAL STATEMENTS YEAR ENDED 31ST MARCH 2024 Charily Registration Number: 1030900
LAMBETH ELDERLY ASSOCIATION FROM VIETNAM INDEX TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST MARCH 2024 CONTENTS PAGE LEGAL AND ADMtNISTRATIVE INFORMATION TRUSTEES, REPORT INDEPENDENT EXAMINERS, REPORT STATEMENT OF FINANCIAL ACTIVITIES STATEMENT OF FINANCIAL POSITION NOTES TO THE ACCOUNTS 8-12
LAMBETH ELDERLY ASSOCIATION FROM VIETNAM LEGAL AND ADMINISTRATIVE INFORMATION YEAR ENDED 31ST MARCH 2024 CHARITY REGISTRATION NUMBER: 1030900 REGISTERED ADDRESS: 56B Courland Grove London SW8 2PU MANAGEMENT COMMITTEE: Thi Than Do (Chairperson) Dung Uy Ngo (Secretary) Quyen Banh (Treasurer) Tuyet Truong(Member) Dong Anh Ngo(Member) Kien Chu (Member) Lan Hong (Member) Ms Chan Nim (Member appointed September 2023) Vinh Dung Ly (resigned March 2023) Thi Phuong Bui (resigned March 2023) BANKER.. National Westminster Bank Plc 504 Brixton Road London SW9 8EW INDEPENDENT EXAMINERS: Leroy Reid & Co. Chartered Certified Accountants and Registered Auditors 299 Northborough Road Norbury London SW16 4TR
LAMBETH ELDERLY ASSOCIATION FROM VIETNAM TRUSTEES, REPORT YEAR ENDED 31ST MARCH 2024 The trustees present their report and accounts for the year ended 3 1st March 2024. The financial statements have been prepared in accordance with the accounting policies set out on page 8 to page 9 and which comply with the charity's trust deed and applicable law. The accounts have been prepared in accordance with the accounting policies set out in note I to the accounls and comply with the "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities perparing their accounts in accordance with the Financial Reporting Standard applicable in ihe UK and Republic of Ireland (FRS 102) (effective l Janaury 2015)" Governing document The organisation is an unincorporatcd registered charity since 1986. The charity was established under ils own constitution and governed by it's Trust Deed. Recruitment and appolntmenl of Management Commlttee The members of the management committee are elected to serve for a period of three years after which they must be re-elected at the next Annual General Meeting. Trustees The tru5tee5 named on page I have served throughout the year. Appointment of trustees is governed by Trust Deed of the Charity. The Board of Trustees is authorised to appoint new trustees to fill vacancies arising through resignation or death of an existing trustee. The Trustees who served during the year were: Thi Than Do (Chairperson) Dung Uy Ngo (Secretary) Quyen B8nh {Treasurer) Mrs Tuyet Truong(Membcr) Dong Anh Ngo(Member) Kicn Chu (M¢mber) Lan Hong (Membcr) Ms Chan Nim (Member- appointed September 2023) InY¢stment powers The Trust Deed authorises the trustees to make and hold investments using the general funds of the charity, but no such investments are presently held. Constitution, objects and policies Th¢ Charity's objects are to provide day care services for Vietnamese elderly people. The policy of the Lambeth Elderly A550ciation continues to be to seek additional finance to support the activities of the association. There has been no change in policy Since the last annual report. The trustees delegate the day to day responsibility of th¢ management of the trust to the administrative manager.
LAMBETH ELDERLY ASSOCIATION FROM VIETNAM TRUSTEES, REPORT YEAR ENDED 31ST MARCH 2024 Organisation structure The LAmbeth Elderly Association from Vietnam has a Management Committee of up to 8 members who meet quarterly and are responsible for ihc strategic direction and policy of the charity. At present Committec has 8 members from a variety of professional backgrounds relevant to the Work of the charity. A scheme of delegation is in place and day to day responsibility for the provision of thc scrvices rest with the Project Manager. The Project Manager is responsible for ensuring that the charity deliver5 the services specified and that the key perforn]ance indicalors are met. Achievements and performance Advice work We have delivered advice in Cantoncsc and Vietnamese on debt, benefits and housing for older Vietnamese and Chinese-viethamese people. We also ran Cantonese-language workshops and offered guidance to people on how best to survive the cost- of-living crisis. Clients have also faced difficulties with pra¢li¢al activities such as a¢quiring food, getting medical attention and communicating with mainstream providers, many of whom are offcring scaled down services. With th¢ir trusted community centre (LEAV) also having closed its doors (in tems of meeting clients physically), many were at crisis point. Our clienls facc additional baffiers and challenbjes in tenns of overcoming poverty, accessing services, gaining inforniation and advicc and maintaining their health and wellbeing. In addition, thc success of our activities spread by word ofmouth and we saw an increase in attendance/ participation in the aclivities we've deliver with more regular attendees proven in our records. Our community volunteers have been at the corc oFthes¢ d¢liv¢ri¢s and support¢d the beneficiarics throughout. A challengje that wc faced there were some people who faced isolation and it was difficult for them to integrate in new environments wilh new individual. Positively we manage to get them out of doors to m¢ct new people at the Center, make friends as well as sharc experiences with each other. Improved confidence among elderly Vietnamese people in the locality that their incomes are being maximised. Outcome Indicators - Qucstionnaire put to all recipient5 of advice. TealDancin exercise The exercise sessions have been a major success fo far with up lo 4048 people joining us for each session. They are extremely fun and has helped our members with some problems they've been facing duc lo the pandemic, also enable our members to stay fit and healthy. The great thing about these sessions it that anyone can join and interacl with othe community members and develop friendship and change their lifestyle. Table Tennis sesslons The table tcnnis sessions for Vietnamese and Chinese Elderly have been very successful with 20-28 peoplo attended each sessions three sessions a week. It's actually one of the most beneficial things our user can do to dev¢lop friendship and stay fit and healthy. The funding has greatly impacted what we do in our organi5ation by both enabling our organisation to continously deliver successful activities to our beneficiaries, which has made a positive impact thus far. More people have benefited from these activities which is proven in the increase number of attendee and regulars during the project.
LAMBETH ELDERLY ASSOCIATION FROM VIETNAM TRUSTEES, REPORT YEAR ENDED 31ST MARCH 2024 Volunteers The tTU5t would not be able to provide such a wlde service to our beneficiaries without the continued support of a large number of volunteers who give their 9ervic¥s voluntarily, to assist ihc staff. Financial review A great deal of time and thought was spent during the year on organising activities for the Lambeth Vietnam¢s¢ elderly. This includes outing>s.lun¢hes and other activities held in the association. 'rhe management committee has also focused its attention on the difficultie5 that elderly Vietnamese people experience, such as language problerns and in the case of di5abl¢d elderly, they also have mobility problems. The policy of the Lambeth Elderly Association ¢ontinues to be to seek additional finance to support th¢ activities of th¢ association. Ihere has been no change in policy since the last tru$tees' r¢port. Risk management The Trustees actively review th¢ major risk which the charity faces on a regular basis and believe that maintaining reserves at current levcls, Combined with an annual review of Ihe controls over key financial systems, will provide sufficient resources in the evenl ofadverse conditions. The Trustees hav¢ also examined other operational and busin¢ss risks faccd by the charity and Gonfimi that they have established systems to mitigate the significant risks. Reserve poliey It is the policy of the charity to maintain unrestricted ndS at a levcl which equale to approximately one month unrestrict¢d expenditure. This provides sufficient fvnds to cover management and administration and support costs. Unr¢slricted funds are maintained for at least thi5 level throughout the year. Statement of trustees, re8ponslbilities The trust¢e$ are r¢quir¢d under the Charities Act 2011 to prepare financial s18tement$ for each financi81 year which give a tru¢ and fair view of the charity's financial activities during the yr and of ils financial position at the end of the year, In preparing financial statements giving a true and fair vi¢w, the trustees should follow best practice and: select suitablc ac¢ouniing policies and apply thcm consistently: 2. make judgements and estimates that are reasonable and prudent. state wh¢ther applicable accounting standards and slaiements of recommended practice hav¢ been followed, subject to any departures disclosed and explained in the financial statcments. 4. prepare the fjnancial statements on a going concern basis unles5 It is inappropriate to presume that the charity will continue in operation, The trustees are responsible for ke¢ping accounting records which disclose with reasonable accuracy the rinancial position of the charity and which enable them to ascertain the financial posillon of the charity and which enable them to ensure that the financial stat¢m¢nts comply with applicable law and r¢gulations. They are also r¢sponsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other IegUlar1tIeS taking reasonable step5 for the prevention and detection of fraud and oth¢r irrcgularities. Approv81 This report was approv¢d hc truslees on and signed on its behalf. Thi Than Do ( Trustee airperson)
REPORT OF THE INDEPENDENT EXAMINERS TO THE MEMBERS OF LAMBETH ELDERLY ASSOCIATION FROM VIETNAM We have examined the financial statement of Lambeth Elderly Association From Vietnam for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Siatement of Financial Position, the Statement of Cash Flows and the related notes. The financial reporting framework that has been applied in their applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102. Respective responsiblllties of the trustees 8nd evminer As the charity's tnlstees, you are responsible for the preparation of the accounts) you consider that the audit requirements of Section 144{2) of the Charities Act 2011 (the Act) does not apply, and that an independenl examination is needed. It is our responsibility to examine the accounts under s¢ction 145 of the Act and to state. on the basis of procedures specified in the General Directions Charity Commissioners under Section 145(5)(b) of th¢ Act, wh¢lh¢r particular matt¢rs have come to our attention. Basls ofindependent examlner's r¢port Our examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presenled with those records. It also includes consideration of any unusual items or disclosures in the accounts. and seeking explanations from you as truste¢s concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently we do not express an audit opinion on the view given by the accounts. Independent examiner's statemenl In connection with our examination, no matter has come to our altcntion.. which gives us reasonable cause to believe that in any material respect the requirements: (a) to keep accounting records in accordance with Section 130 of the Act; and (b) to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the A¢t, have not be¢n met. or 2. to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. t Q£ThGt 4 LEROY REID & CO CHARTERED CERTIFIED ACCOUNTANTS AND REGISTERED AUDITORS 299 Northborough Road Norbury London SW16 4TR
LAMBETH ELDERLY ASSOCIATION FROM VIETNAM STATEMEIYT OF FINANCIAL ACTIVITIES YEAR ENDED 31ST MARCH 2024 Unrestricted Restricted Fund Fund NOTES 024 2023 Income vand endowments from Charilable aclivitie Grant receivable 35,152 35,152 27,229 Activitiesfor generalingfvnds Service users donation Investment Income 3.251 3,251 887 Total Income and endowments Expenditure on: Charitable aetivities Totsl resources expended Net ineomel(expenditure) for thc yearl Net movement in funds 3,251 1,792 5,043 (162) Fund balances at l Aprll 2023 Fund balances at 31 March 2024 The statement of fjnancial activities includes all gains and losses in th¢ year. All incoming resources and resource5 expended derive from continuing activities. The accompanying notes forni an integral part of the accounts.
LAMBETH ELDERLY ASSOCIATION FROM VIETNAM STATEMENT OF FINANCIAL POSITION AS AT 31ST MARCH 2024 NOTES 2024 2023 Current Assets Cash at bank and in hand 12,909 7,796 Current Ilabllltles oth payable 700 Nel eurrent assets 12 16 Total assets less current Ilabilltles Ineome fllndj: Unr¢8tricted Fund Reslrided Fund 4,141 811()8 890 The financial slatement8 were approvcd by the board of directors and authorised for issue on . and are signed on its behalf by: 2.o.1.96.1I024 Thl Thvan Do airper The a¢companyiThg notes forni an integral part of the accounts.
LAMBETH ELDERLY ASSOCIATION FROM VIETNAM NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST MARCH 2024 l. Accounting policies 1.1 Aceounting convention The financial staternent5 have been prepared in accordance with Accounting and Reporting by Chariti¢s: Statement of Recommended Practice applicablc to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)(¢ffectiv¢ l January 2015)-(Charit1¢5 SORP(FRS102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102). Lambeth Elderly Association From Vietnam meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. 1.2 Going concern At the time of approving the accounts, the Trustees have a reasonable expectation that the charity has adquate 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 accounts. 1.3 Charltable funds Unrestricted fund5 are available for use at the discretion of the Trustees in futh¢rance of their charitable objectives unless the funds have been designated for other purpose5. 1.4 Incoming resources All incoming resources are included in the statement of financial activities when the charity is entitled to the income and thc amount can bc quantified with r¢asonabl¢ accuracy, The following specific policies are applied to particular categories of income: yo1¢dry Income and donutlOP75 are included in incoming resources when they are rcceivable, except when the donors specify that they must be used in future accounting periods or donors conditions have not been lfIlled. then the income is deferred. The income for fundraising ventures is shown gross, with the associated costs included in fundraising costs. Grants, where entitlement is not conditional on the delivery of a specific perforniance by the charity, are recognised when the charity becomes uncondttionally entitled to the grant. 1.5 Resources expended Expendithre is Tecognised on an accrual basis as a liability 15 incurred. Expenditure includes any VAT which cannot be llY recovered, and is reported as part of the expendiNre to which it relate5: Charilable expendilure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activitics and those cost5 of an indirect nature necessary to support them. All costs are allocated between the expenditure calegories of the SOFA on a ba515 designed to r¢flect the use of the resource.
LAMBETH ELDERLY ASSOCIATION FROM VIETNAM NOTES TO THE FINANCIAL ST ATEMENTS YEAR ENDED 31ST MARCH 2024 1.6 Tangible fixed assets and depreciation Tangible fixed assets are stated at cost less depreciation. Depreciation is pmvided on all tangibl¢ fixed assets at rates calculaled to write off the cost on a straight line basis over their expected use1 economic lives as follows.. Equipment - IOO/o 1.7 Cash and eash equivalents Cash and cash equivalent include cash in hanl deposit held at call with banks, other short-terni liquid investment with original maturities of three months or less, and bank overdraft. Bank overdrafts ar¢ shown within borrowing in current liabilities. 2 Critital aceounting estimates and Judgements In the application of the charity's accounting policies. the trustees are required to make judgemeT]ts. ¢stimat¢s and assumptions about th¢ carrying amount of assels 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 on going basi5. Revisions to accounting eslimates are recognised in the period in which the estimate is revised where the revision affects only that p¢riod, or in the period of the revision and future pcriods whcr¢ the revision affects both current and future period. Unrejlricted Restricted Fund Fund 3. Fund-rvdising ventures 2024 Membership fees other income 2,451 800 2,451 800 Service user donation Unrestricted Restricted Fund 4. Investment income 2024 2023 Bank Interest Rec¢ived Unrestrlcted Restricted Fun Fund 5. Grants recelved 2024 2023 Trust for London Big Lottery Fund BME H¢alth Forum Lambeth Wellbeing Fund The YAPP Charitable Trust 14,500 7,800 14,500 7,800 10,500 3,877 9,852 9,852 9,852
io LAMBETH ELDERLY ASSOCIATION FROM VIETNAM NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST MARCH 2024 & Stsff Costs No remunerdtion was paid to tSte¢S in the year, nor were any trustees, expenses reimbursed. staff costs were: 2024 2023 Salaries and wages The averag¢ weekly number of staff employed by the charity during the year was as follows: 2024 2023 Direct Charitable Activities Unrestrlcted Restrieted Fund 7. Dire¢1 charltable expenditure 2024 2023 Salaries and wages Volunteer expenses Tutor Fees Food and refr¢shmenls Feslivals Premises Cost Printin& stationery & telephone Professional fees Web design Equipment and materials Annual geTJeral meeting Independent examiner fees Payroll fees 14,621 2,144 3,700 1,657 273 8,374 851 400 14,621 2,144 3,700 1,657 273 8,374 851 400 14,478 1,050 5,160 1,604 213 2,532 864 360 581 348 289 630 172 463 700 17 463 700 177
LAMBETH ELDERLY ASSOCIATION FROM VIETNAM NOTES TO THE FINANCIAL STATEMEIYTS YEAR ENDED 31ST MARCH 2024 8. Current liabilities 2024 2023 Accruals 700 630 9. STATEMENT OF FUNDS AIIA 2023 Income Ex enditure At31 March 2024 Unrestricted Fund 890 3,251 4,141 Restricted Fund Total Funds