Registered number: 03917990 Charity number: 1079691
AGE UK LINDSEY
(A Company Limited by Guarantee)
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
AGE UK LINDSEY (A Company Limited by Guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Company, its Trustees and Advisers | 1 - 2 |
| Trustees' Report | 3 - 9 |
| Independent Auditors' Report on the Financial Statements | 10 - 13 |
| Statement of Financial Activities | 14 |
| Balance Sheet | 15 - 16 |
| Statement of Cash Flows | 17 |
| Notes to the Financial Statements | 18 - 38 |
AGE UK LINDSEY (A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2021
| Trustees | Mr H E M Thomson |
|---|---|
| Mrs C L Markham | |
| Mr I Brown | |
| Ms R F E Dobbs | |
| Cllr O C Bierley | |
| Cllr W Gray | |
| Mrs C E Parker-Robson, Chair of Trustees | |
| Mr J D Brindle | |
| Canon J Thorold | |
| Mr P Stapleton | |
| Company registered number 03917990 Charity registered number 1079691 Registered office The Old School House Manor House Street Horncastle Lincolnshire LN9 5HF Company secretary Mrs C E Parker-Robson Chief executive officer Mr A Storer Independent auditor Streets Audit LLP Chartered Accountants & Statutory Auditor Tower House Lucy Tower Street Lincoln LN1 1XW Bankers Lloyds Bank Plc 202 High Street Lincoln LN5 7AP Santander Bridle Road Bootle Merseyside L30 4GB Shawbrook Bank Luthea House Warley Hill Business Park Brentwood Essex CM3 3BE |
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AGE UK LINDSEY (A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
Solicitors
Wilkin Chapman 7 Bull Ring Horncastle LN9 5HX
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AGE UK LINDSEY (A Company Limited by Guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2021
The Trustees present their annual report together with the audited financial statements of the charitable company for the 1 April 2020 to 31 March 2021. The Annual Report serves the purposes of both a Trustees' report and a Directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) as amended by Update Bulletin 1 (effective January 2015) and Update Bulletin 2 (effective January 2019).
Since the company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
The objects of the charity are to promote the relief of older people in any manner which now or hereafter may be deemed by law to be charitable within the districts of East and West Lindsey, Lincolnshire and North Lincolnshire.
The Board of Trustees convened during May, July, September, November, January and March. All these meetings have taken place virtually due to current restrictions. The AGM took place on 3rd December 2020.
Achievements and performance
a. Main achievements and review of activities
The main activities and services the charity run are described below. These services have been set up with the Trustees’ approval and with due consideration given to the Charity Commission’s guidance on public benefit and in line with the charity’s mission statement.
The Independence at Home service, offers domestic support in the home, gardening, handyman services and key safe fitting which is charged at an hourly rate. Due to the pandemic the viability of the service was considered by the charity and the unfortunate decision was made to close the service.
The Information and Advice service has the full staff team based at home and continues to offer coverage across East Lindsey, West Lindsey and North Lincolnshire. The Service Manager oversees all aspects of the service including monitoring and evaluation in line with the Age UK Quality Standards. With restrictions on home visiting in place for the year, the service was delivered completely over the telephone and via digital methods. During the course of the year a new Service Manager was appointed and also the difficult decision was taken to permanently close Louth Access Centre. Despite the changes with the service it continues to be the best performing Age UK Information and Advice service in the East Midlands.
When restrictions were eased, the Age UK Lindsey charity shops and online shop, continued trading bringing high levels of unrestricted income into the charity. The Barton shop was unable to open due to structural issues with the roof and a decision was taken by the Board to permanently close the Gainsborough shop, due to poor financial performance and issues with the adjoining housing. The online shop uses eBay as the sales platform and continued to trade during the period that non-essential retail had to close. It is hoped that on line sales will continue to grow and develop. Full use of the local authority grants for the closure of non-essential retail was
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AGE UK LINDSEY (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
Achievements and performance (continued)
made by the charity to replace lost income from the shop closure.
The demands on the Befriending service still outweigh capacity, with regular referrals being made to the national Call in Time service. We have clients in East Lindsey, West Lindsey & North Lincolnshire receiving regular calls. The Talk, Eat, Drink (TED) project funding has substantially assisted with the delivery of the service in East Lindsey and has been secured for a further year. Further funding by Henry Smith and West Lindsey District Council meant the service has been able to expand during the year to keep up with the demand. The service has 130 regular clients being supported by over 50 volunteers.
The Crime Reduction Fund ‘HELP Project’ has continued throughout the year working in partnership with North Lincolnshire CAB and North Lincolnshire Public Health. The project is funded until January 2022 and based within the Scunthorpe area. Any recently bereaved individuals who require befriending are signposted to this service to prevent isolation occurring for the individual.
The Age UK Lindsey Lunch Clubs and Coffee Morning weren’t able to run during the year due to the restrictions in place. With the loss of the Talk, Eat, Drink funding at the end of February the decision was made to not reopen any of the lunch clubs when restrictions lifted.
The Community Transport service wasn’t able to run at the beginning of the year due to the restrictions and the difficult decision to end the service completely, was made. Two of the vehicles were repurposed for other uses within the charity with the other three minibuses sold.
The Keep Connected project was launched during the year, as a direct response to the pandemic and after a successful crowd funding appeal. The service delivered wellbeing calls to existing Lunch Club, Community Transport and Independence at Home clients to ensure they were supported although the services were not running. Through further funding we were able to convert one of the Community Transport minibuses into a Mobile Outreach project containing an area for conducting appointments, so we would be able to take our services out to clients. Unfortunately, due to the further lockdown this initially had to be placed on hold, but began in May 2021. Again, from funding received we were able to deliver ‘Thinking of You' resource packs to clients, containing many different items during December and March. All clients also received a regular newsletter to keep them up to date with developments within the charity.
At the end of the financial year there were 41 paid staff and 95 active volunteers. Due to the pandemic and changes made to the services unfortunately 87 staff members were made redundant during the year.
b. Fundraising activities and income generation
Due to the pandemic there weren’t any specific fundraising events that took place during the year. A crowd funder took place during the year to raise funds for the new Keep Connected project.
Large donations were received from Worth Waynflete Foundation, Pillared House Lunch Club and Mr M Wilkinshaw.
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AGE UK LINDSEY (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the company 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.
b. Reserves policy
The Finance Sub Committee on behalf of the Board of Trustees conducts an annual review of the level of unrestricted reserves in the general fund by considering risks associated with the various income streams, expenditure plans and balance sheet items. This enables an estimate to be made of the level of reserves held in designated funds required by the charity. At the year end the charity had total unrestricted funds of £343,285, designated funds of £140,591 and restricted funds of £56,514. Therefore total charity funds were £540,390, as set out in note 18 to the financial statements. The free reserves of the charity were £11,802.
Whilst the strategic plan remains in place it is reviewed by the Board of Trustees and the Executive Management Team. In addition, the reserves policy will be annually amended to take account of the working capital requirements of the charity especially in light of the future developments of the charity.
c. Principal risks and uncertainties
The Board of Trustees monitor at each board meeting the major risks which the charity is exposed to and to keep under review the adequacy of the systems. These systems are believed to be sufficient and appropriate to the size of the charity and the nature of its operations. A Risk Register has been compiled by the trustees in conjunction with the Director of HR, Quality and Performance and the Executive team. Each department of the charity is reviewed on a rotating basis at each bi monthly Board of Trustees meeting to ensure any additional risks are added and any that aren’t relevant are removed.
d. Principal funding
The principal source of unrestricted income comes from our charity shops alongside fundraising events held during the year. With the emergence of emergency Covid grants and local authority grants we were successful in receiving a total of £307,928 to cover the core costs of the charity and for shop costs still incurred whilst closed. The charity also made use of the government Job Retention Scheme throughout the year claiming £265,456 to cover the salary cost of furloughed staff.
The charity was awarded a contract and received £27,962 funding from Eon for increased benefit take up activity through the Information and Advice service. In addition, another Eon contract was granted for £6,750 in support of the Energy Checking Project providing free assessments to the homes of older people to enable them to stay warmer during the winter.
The charity successfully received further funding of £19,611 from the Talk, Eat, Drink project. The funding was for lunch club development and support within East Lindsey. Although lunch club’s were unable to run during the year the funding was used to offer these clients the support they required.
The Talk, Eat, Drink project have funded the Befriending service in East Lindsey over a number of years. The grant totalled £36,165 and was used to ensure individuals receive a Befriending call throughout the year as personal visits were not able to take place.
With the increased demand on the Befriending service we received further funding to deliver across all areas
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AGE UK LINDSEY (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
through Henry Smith. The funding runs until the end of December 2021 but for this financial year it was £40,597. This funding was also used to develop our Keep Connected service and improve the IT provisions across the charity.
Through Age UK £35,864 was received to enable the Keep Connected service to be developed alongside our crowd funding appeal. The funding allowed for tablets to be purchased to be help assist and develop digital skills alongside the refitting of the vehicle and thinking of you packs.
The lottery grant received during this year totalled £69,877 to run the Information & Advice service within the North Lincolnshire area. The funding is used to provide home visits to individuals to carry out benefits checks by the two Benefits Officers.
The charity successfully received additional funding for the Information & Advice service from The Henry Smith Charity. The funding is for three years from 1st January 2019. During this financial year £39,051 was received which is used to cover costs associated with running the service.
Through Age UK the charity funding is received for the Later Life Goals project ran through our Information and Advice Service. The project commenced in October 2018 and will run for three years. The funding totalled £21,000 during this financial year.
To improve our shops network funding from Social Enterprise Support Fund was received. The funding totalled £50,000 and was used to implement online gift aid sign up, purchase additional PPE and for new signage at our Barton shop.
Working in partnership with the Citizens Advice Bureau the charity received £8,842 to run the crime reduction fund project. This is within the Scunthorpe area to support recently bereaved individuals.
The charity received four legacies during the year totalling £9,497.
Structure, governance and management
a. Constitution
Age UK Lindsey is a registered company (number 3917990) and charity (number 1079691). Its governing document is its Articles of Association. The company was incorporated on 2 February 2000 and charitable status was gained on 3 March 2000.
The company remained dormant until April 2001 when it took over the assets and liabilities of the unincorporated Age Concern Lindsey, registered charity number 503533.
At the board meeting of 27th July 2010 the Companies House Special Resolution Form was agreed and signed by the Chairman to formally change the name of the charity to Age UK Lindsey. A Brand Partnership Agreement between Age UK and Age UK Lindsey has taken the place of the Age Concern Federation membership and is the new way of working with the national charity.
On the 6th September 2017 an extraordinary general meeting took place before Age UK Lindsey and Age UK North Lincolnshire, registered charity number 1101646, became one entity on the 1st October 2017.
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AGE UK LINDSEY (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
Structure, governance and management (continued)
b. Methods of appointment or election of Trustees
During the course of the year there weren’t any changes to Board of Trustees. The Charity is actively seeking for new Trustees to join the Board to address the gender imbalance and to cover gaps in expertise.
c. Organisational structure and decision-making policies
The day to day activities of the charity are overseen by the Chief Executive Officer who is managed and reports to, the Board of Trustees. The Trustees typically meet bi monthly and have the power to determine the quorum for the transaction of business provided that the quorum for the meeting of the Board shall never be less than one quarter or three of the members of the Board.
During the year a Finance Sub committee made up of the Chief Executive Officer, Director of Finance and at least two members of the Board including the Treasurer, usually meet bi monthly at two weeks prior to the full Board meetings and reports directly to the Board. During this year and with the challenges that were faced by the charity, the Finance Sub-committee ceased meetings until March 2021, with Finance being discussed in more detail at the main board meeting.
The Personnel Sub committee meets bi monthly and reports are submitted to each full Board of Trustees meeting. Terms of Reference have been agreed by its members for this Sub-committee, which is made up of the Chairman, Vice Chairman and the Director of HR, Performance & Quality. Again with the challenges faced during the year these meetings were suspended for the whole year with the personnel issues being discussed in more detail at the main board meeting.
d. Policies adopted for the induction and training of Trustees
The Charity has developed a Trustee Induction Pack. The Induction Pack contains two documents from the Charity Commission, “Welcome” and “The Essential Trustee”. It also contains the Charity’s Memorandum and Articles of Association, a set of the latest Management Accounts, and a copy of the last audited Annual Accounts, the latest Annual Report, minutes from recent Board Meetings and also an Age UK Lindsey Trustee Information document. This pack is given to all new Trustees.
e. Pay policy for key management personnel
The Key Management Personnel comprises of the Chief Executive Officer, Director of HR, Performance & Quality, Director of Operations and Development and Director of Finance. The remuneration of these staff members is derived by comparing the salary to similar positions within the same sector and aligning this with the current charity pay scale.
f. Related party relationships
The charity set up a Service Level Agreement with the Louth and District Hospice to deliver domestic support to palliative clients in January 2007 and this was extended in September 2019. Due to the closure of the Independence at Home service the Service Level Agreement was ended in June 2020.
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AGE UK LINDSEY (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
Plans for future periods
The Chair continues to look to strengthen the Board of Trustees and is actively looking to recruit new Trustees who will bring a wide range of skills and experience to the charity. The Executive Management team will also continue to look for relevant funding opportunities to develop new services or maintain and expand our current service delivery.
Front line services are continuing to adapt to new ways of working brought about by the pandemic to ensure they are being delivered in the most effective and safe manner. The Keep Connected Mobile Outreach project has just started to get out into local communities, with the fuller service delivery model being developed across the three areas of benefit.
An exciting new project is being developed in collaboration with Age UK Lincoln and South Lincolnshire, assisting local care homes by providing volunteer hosts to support visitors wanting to see members of their family who are residents. Recruiting new volunteers will be a priority for this project and for the charity as a whole, giving additional capacity for services and enabling more support for our shops.
After receiving full planning permission for the South Street project there has been little development with the project due to the pandemic. The charity remains hopeful that as we are moving towards the end of the pandemic the project will be reinvigorated, as there clearly is still a need to develop the charity’s headquarters and realise new opportunities for service delivery and income generation.
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 . 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 its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
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.
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AGE UK LINDSEY (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
Disclosure of information to auditors
Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that:
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so far as that Trustee is aware, there is no relevant audit information of which the charity's auditors are unaware, and
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that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity's auditors are aware of that information.
Auditors
The auditors, Streets Audit LLP, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.
Approved by order of the members of the board of Trustees on 24 November 2021 and signed on their behalf by:
................................................
Mrs C E Parker-Robson (Chair of Trustees)
................................................ Cllr O C Bierley (Trustee)
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AGE UK LINDSEY (A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF AGE UK LINDSEY
Opinion
We have audited the financial statements of Age UK Lindsey (the 'charitable company') for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, 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, 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:
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give a true and fair view of the state of the charitable company's affairs as at 31 March 2021 and of its incoming resources and application of resources, including its income and expenditure for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Companies Act 2006.
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 United Kingdom, including the Financial Reporting Council'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.
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AGE UK LINDSEY (A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF AGE UK LINDSEY (CONTINUED)
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 Auditors' Report 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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.
Opinion 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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the information given in the Trustees' Report for the financial year for which the financial statements are prepared is consistent with the financial statements.
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the Trustees' Report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of our 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 Trustees' Report.
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:
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adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
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the financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of Trustees' remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit; or
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the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' Report and from the requirement to prepare a Strategic Report.
Responsibilities of trustees
As explained more fully in the Trustees' Responsibilities Statement, 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
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AGE UK LINDSEY (A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF AGE UK LINDSEY (CONTINUED)
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.
Auditors' 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 Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
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the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
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we identified the laws and regulations applicable to the charity through discussions with Trustees and other management, and from our commercial knowledge and experience of the charity;
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we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charity, including the Charities Act 2011, taxation legislation, data protection, employment and health and safety legislation;
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we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
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identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
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making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
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considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
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performed analytical procedures to identify any unusual or unexpected relationships;
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tested journal entries to identify unusual transactions;
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investreigated the rationale behind significant or unusual transactions.
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reviewed Trustee meeting minutes for evidence of appropriate decision-making and management controls.
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AGE UK LINDSEY (A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF AGE UK LINDSEY (CONTINUED)
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
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agreeing financial statement disclosures to underlying supporting documentation;
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reading the minutes of meetings of those charged with governance; and
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enquiring of management as to actual and potential litigation and claims; and
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reviewing correspondence with HMRC, relevant regulators and the company's legal advisors.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the Trustees and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
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 Auditors' 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 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 its members, as a body, for our audit work, for this report, or for the opinions we have formed.
Robert Anderson FCA (Senior Statutory Auditor)
for and on behalf of Streets Audit LLP
Chartered Accountants & Statutory Auditor
Tower House Lucy Tower Street Lincoln LN1 1XW
26 January 2022
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AGE UK LINDSEY (A Company Limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2021
| Note Income from: Donations and legacies 3 Charitable activities 4 Other trading activities 5 Investments 6 Total income Expenditure on: Raising funds 7 Charitable activities 8 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Restricted funds 2021 £ 313,842 - - 36 313,878 - 332,706 332,706 (18,828) 75,342 (18,828) 56,514 |
Unrestricted funds 2021 £ 685,462 2,285 178,068 147 865,962 568,974 274,902 843,876 22,086 461,790 22,086 483,876 |
Total funds 2021 £ 999,304 2,285 178,068 183 1,179,840 568,974 607,608 1,176,582 3,258 537,132 3,258 540,390 |
Total funds 2020 £ 416,795 492,439 670,381 427 1,580,042 610,471 1,013,710 1,624,181 (44,139) 581,271 (44,139) 537,132 |
|---|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 18 to 38 form part of these financial statements.
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(A Company Limited by Guarantee) REGISTERED NUMBER: 03917990
AGE UK LINDSEY
BALANCE SHEET AS AT 31 MARCH 2021
| Note Fixed assets Tangible assets 13 Investments 14 Current assets Debtors 15 Cash at bank and in hand Creditors: amounts falling due within one year 16 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 17 Net assets excluding pension asset Total net assets |
57,161 283,250 340,411 (135,228) |
2021 £ 335,207 - 335,207 205,183 540,390 - 540,390 540,390 |
122,565 162,269 284,834 (105,708) |
2020 £ 364,672 1 364,673 179,126 543,799 (6,667) 537,132 537,132 |
|---|---|---|---|---|
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AGE UK LINDSEY
(A Company Limited by Guarantee) REGISTERED NUMBER: 03917990
BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2021
| Note Charity funds Restricted funds 18 Unrestricted funds 18 Total funds |
2021 £ 56,514 483,876 540,390 |
2020 £ 75,342 461,790 |
|---|---|---|
| 537,132 |
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees on 24 November 2021 and signed on their behalf by:
Mrs C E Parker-Robson (Chair of Trustees)
Cllr O C Bierley (Trustee)
The notes on pages 18 to 38 form part of these financial statements.
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AGE UK LINDSEY (A Company Limited by Guarantee)
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2021
| Cash flows from operating activities Net cash used in operating activities Cash flows from investing activities Dividends, interests and rents from investments Proceeds from the sale of tangible fixed assets Purchase of tangible fixed assets Net cash used in investing activities Cash flows from financing activities Cash inflows from new borrowing Repayments of borrowing Net cash (used in)/provided by financing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year |
2021 £ 174,655 183 32,525 (66,380) (33,672) - (20,000) (20,000) 120,983 162,269 283,252 |
2020 £ (23,249) 427 3,404 (62,997) (59,166) 40,000 (13,333) 26,667 (55,748) 218,017 162,269 |
|---|---|---|
The notes on pages 18 to 38 form part of these financial statements
Page 17
AGE UK LINDSEY (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
1. General information
As set out in the Trustee's report, Age UK Lindsey is an incorporated charity Iimited by guarantee registered in England and Wales. The address can be found on page 1 of these financial statements.
The principal objective of the charity is to promote the relief of older people in any manner which now or here after may be deemed by Iaw to be charitable within the districts of East and West Lindsey, Lincolnshire and North Lincolnshire.
The Board of Trustees is aware of the need for the charity to provide public benefit and has paid due regard to the guidance on public benefit issued by the Charity Commisslon.
These financial statements have been prepared in sterling, which is the functional currency of the entity.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements 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 2015), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Age UK Lindsey 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.
2.2 Going concern
During the year, the UK has experienced a pandemic of the coronavirus. The potential effects to the charity and its future prospects are becoming clearer but not certain, however, the trustees remain committed to the protection of the charity. The charity has undergone significant changes to operations and staffing during the year and the operating and viability position of the charity is under close scrutiny by trustees and management. In addition the trustees are mindful of the significant support that has been offered by the Government.
Accordingly the financial statements have been prepared on a going concern basis.
Page 18
AGE UK LINDSEY (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
2. Accounting policies (continued)
2.3 Income
All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the company has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the company, can be reliably measured.
Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.
Expenditure on raising funds includes all expenditure incurred by the company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the company's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.5 Government grants
Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of Financial Activities over the expected useful lives of the assets concerned. Other grants are credited to the Statement of Financial Activities as the related expenditure is incurred.
Page 19
AGE UK LINDSEY (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
2. Accounting policies (continued)
2.6 Tangible fixed assets and depreciation
Tangible fixed assets costing £100 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .
Depreciation is provided on the following bases:
| Freehold land | - no depreciation |
|---|---|
| Impvts. to Leasehold Property | - depreciated over the lifetime of the lease up to |
| the breakout clause period | |
| Fixtures and fittings | - 15% straight line |
| Motor vehicles | - 25% straight line |
| Other equipment | - 15% reducing balance, 17% straight line, 20% |
| straight line or 25% straight line | |
| Kitchen equipment | - 15% straight line |
2.7 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of Financial Activities.
Investments in subsidiaries are valued at cost less provision for impairment.
2.8 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.9 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Page 20
AGE UK LINDSEY (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
2. Accounting policies (continued)
2.10 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
2.11 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company 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 company for particular purposes. The costs 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.
Investment income, gains and losses are allocated to the appropriate fund.
Page 21
AGE UK LINDSEY (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
3. Income from donations and legacies
| Donations Legacies Grants Government grants Total 2021 Total 2020 |
Restricted funds 2021 £ - - 313,842 - 313,842 265,290 |
Unrestricted funds 2021 £ 60,662 9,497 169,479 445,824 685,462 151,505 |
Total funds 2021 £ 60,662 9,497 483,321 445,824 999,304 416,795 |
Total funds 2020 £ 151,505 - 265,290 - 416,795 |
|---|---|---|---|---|
Government grant income represents income received during the Covid-19 pandemic. The charity received grant funding from the Coronavirus Job Retention Scheme and the Retail, Hospitality and Leisure Grant Fund.
4. Income from charitable activities
| Lunch Clubs Home Support Scheme Lifestyle Centre Community Engagement Total 2021 Total 2020 |
Unrestricted funds 2021 £ 354 - 1,661 270 2,285 492,439 |
Total funds 2021 £ 354 - 1,661 270 2,285 492,439 |
Total funds 2020 £ 20,179 424,789 44,710 2,761 492,439 |
|---|---|---|---|
Page 22
AGE UK LINDSEY (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
5. Income from other trading activities
Income from fundraising events
| Insurance Commissions Other activities for generating funds Total 2021 Total 2020 Income from non charitable trading activities |
Unrestricted funds 2021 £ 15,136 6,562 21,698 19,505 |
Total funds 2021 £ 15,136 6,562 21,698 19,505 |
Total funds 2020 £ 5,675 13,830 19,505 |
|---|---|---|---|
| Charity Shops Total 2020 |
Unrestricted funds 2021 £ 156,370 650,876 |
Total funds 2021 £ 156,370 650,876 |
Total funds 2020 £ 650,876 |
|---|---|---|---|
6. Investment income
| Investment income Total 2020 |
Restricted funds 2021 Unrestricted funds 2021 £ £ 36 147 183 244 |
Total funds 2021 £ 183 427 |
Total funds 2020 £ 427 |
|---|---|---|---|
Page 23
AGE UK LINDSEY (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
7. Expenditure on raising funds
Costs of raising voluntary income
| Unrestricted funds 2021 £ Fundraising Costs 3,993 Total 2020 5,214 Fundraising trading expenses Unrestricted funds 2021 £ Purchases 1,856 Premises expenses 77,596 Office costs 22,278 Equipment, repairs & servicing 47,175 Professional fees 5,460 Depreciation and loss on disposal 25,030 Bank charges 2,843 Meeting & AGM costs - Other staff expenses 8,409 Wages & salaries 374,334 Total 2021 564,981 Total 2020 605,257 |
Total funds 2021 £ 3,993 5,214 Total funds 2021 £ 1,856 77,596 22,278 47,175 5,460 25,030 2,843 - 8,409 374,334 564,981 605,257 |
Total funds 2020 £ 5,214 |
|---|---|---|
| Total funds 2020 £ 4,605 99,762 18,414 35,514 3,878 6,885 3,257 1,024 20,281 411,637 605,257 |
||
Page 24
AGE UK LINDSEY (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
8. Analysis of expenditure on charitable activities
Summary by fund type
| T.E.D. Project Lifestyle Centre Lunch Clubs Independence at Home Development Befriending Information and Advice Community Engagement Age UK Keep Connected Total 2021 Total 2020 |
Restricted funds 2021 £ 20,607 10,639 4,662 - - 57,141 192,713 - 46,944 332,706 283,272 |
Unrestricted funds 2021 £ - 10,367 1,877 212,555 2,614 - 20,416 27,073 - 274,902 730,438 |
Total funds 2021 £ 20,607 21,006 6,539 212,555 2,614 57,141 213,129 27,073 46,944 607,608 1,013,710 |
Total funds 2020 £ 25,041 116,689 19,491 486,492 3,250 56,039 272,857 33,851 - 1,013,710 |
|---|---|---|---|---|
Page 25
AGE UK LINDSEY (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
9. Analysis of expenditure by activities
| T.E.D. Project Lifestyle Centre Lunch Clubs Independence at Home Development Befriending Information and Advice Community Engagement Age UK Keep Connected Total 2021 Total 2020 |
Activities undertaken directly 2021 £ 18,607 12,535 1,187 189,368 2,614 48,356 134,902 317 44,752 452,638 770,537 |
Support costs 2021 £ 2,000 8,471 5,352 23,187 - 8,785 78,227 26,756 2,192 154,970 243,173 |
Total funds 2021 £ 20,607 21,006 6,539 212,555 2,614 57,141 213,129 27,073 46,944 607,608 1,013,710 |
Total funds 2020 £ 25,041 116,689 19,491 486,492 3,250 56,039 272,857 33,851 - 1,013,710 |
|---|---|---|---|---|
10. Auditors' remuneration
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Fees payable to the company's auditor for the audit of the company's | ||
| annual accounts | 3,250 | 3,250 |
| Fees payable to the company's auditor in respect of: | ||
| All non-audit services not included above | 1,000 | 1,000 |
Page 26
AGE UK LINDSEY (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
11. Staff costs
| Wages and salaries | 2021 £ 854,751 854,751 |
2020 £ 1,216,190 |
|---|---|---|
| 1,216,190 |
During the year the charity made 81 (2020 - 4) redundancies with redundancy payments totalling £57,639 (2020: £26,670) in aggregate.
The average number of persons employed by the company during the year was as follows:
| 2021 | 2020 | |
|---|---|---|
| No. | No. | |
| Total Employees | 50 | 130 |
No employee received remuneration amounting to more than £60,000 in either year.
Included within the total figure for wages and salaries costs are social security costs of £32,262 (2020: £44,387) and the operating costs of defined contribution pension schemes of £14,385 (2020: £19,053).
The key management personnel of the charity comprise the Chief Executive Officer, the Director of HR, Performance and Quality, the Director of Finance and the Director of Operations and Developments. The total employee benefits of key management personnel were £127,980 (2020: £153,766).
12. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2020 - £NIL) .
During the year ended 31 March 2021, expenses totalling £ NIL were reimbursed or paid directly to Trustee (2020 - £NIL to Trustee) .
Page 27
AGE UK LINDSEY
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
13. Tangible fixed assets
| Cost or valuation At 1 April 2020 Additions Disposals At 31 March 2021 Depreciation At 1 April 2020 Charge for the year On disposals At 31 March 2021 Net book value At 31 March 2021 At 31 March 2020 |
Freehold property £ 281,891 2,553 - 284,444 - - - - 284,444 281,891 |
Long-term leasehold property £ 47,612 24,606 (10,305) 61,913 33,362 7,727 (9,741) 31,348 30,565 14,250 |
Plant and machinery £ 24,440 1,076 (3,338) 22,178 21,088 2,422 (3,188) 20,322 1,856 3,352 |
Motor vehicles £ 105,206 8,147 (68,211) 45,142 48,275 24,638 (41,513) 31,400 13,742 56,931 |
Fixtures and fittings £ 101 4,389 - 4,490 101 4,389 - 4,490 - - |
Office equipment £ 47,736 25,609 (6,973) 66,372 39,488 29,213 (6,929) 61,772 4,600 8,248 |
Total £ 506,986 66,380 (88,827) |
|---|---|---|---|---|---|---|---|
| 484,539 | |||||||
| 142,314 68,389 (61,371) |
|||||||
| 149,332 | |||||||
| 335,207 | |||||||
| 364,672 |
Page 28
AGE UK LINDSEY (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
14. Fixed asset investments
| Investments | |
|---|---|
| in | |
| subsidiary | |
| companies | |
| £ | |
| At 1 April 2020 | 1 |
| Disposals | (1) |
| Net book value | |
| At 31 March 2020 | 1 |
Age UK Lindsey Enterprises Limited remained dormant throughout the period. An application to strike the company off was made on 21 July 2020 and the company was disolved at 20 October 2020.
15. Debtors
| Due within one year Trade debtors Other debtors Prepayments and accrued income |
2021 £ 27,127 6,739 23,295 57,161 |
2020 £ 65,530 39,883 17,152 |
|---|---|---|
| 122,565 |
Page 29
AGE UK LINDSEY (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
16. Creditors: Amounts falling due within one year
| Other loans Trade creditors Other taxation and social security Other creditors Accruals and deferred income |
2021 £ 6,667 22,482 8,255 5,573 92,251 135,228 |
2020 £ 20,000 7,821 11,361 6,004 60,522 |
|---|---|---|
| 105,708 |
Other loans comprise a "Key Fund Growing Enterprise in Communities" loan which is repayable in monthly installments.
| Deferred income at 1 April 2020 Resources deferred during the year Amounts released from previous periods |
2021 £ 14,679 69,858 (14,679) 69,858 |
2020 £ 12,951 14,679 (12,951) |
|---|---|---|
| 14,679 |
17. Creditors: Amounts falling due after more than one year
| Other loans Statement of funds Statement of funds - current year Balance at 1 April 2020 £ Income £ Expenditure £ Unrestricted funds Designated funds Strategic plan designated fund 140,591 - - |
2021 £ - Transfers in/out £ - |
2020 £ 6,667 |
|---|---|---|
| Balance at 31 March 2021 £ 140,591 |
18. Statement of funds Statement of funds - current year
Page 30
AGE UK LINDSEY (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
18. Statement of funds (continued)
General funds
| General funds | |||||
|---|---|---|---|---|---|
| Free reserves Fixed asset reserve Total Unrestricted funds Restricted funds Gertrude Penny Bequest Fund Eon Benefits Big Lottery grant- Benefits Advice Project DfT Bus Operators grant Hospital discharges Henry Smith Grant - I&A Later Life Goals Grant Henry Smith - Keep Connected Eon Handyperson Project Grant T.E.D. Befriending Project Grant T.E.D. Lunch Clubs project Age UK Lottery Grant CRF Project Age UK Keep Connected Total of funds |
- 321,199 321,199 461,790 31,455 - - 34,173 9,300 - - - 414 - - - - - 75,342 537,132 |
865,948 - 865,948 865,948 36 27,962 69,877 - - 39,051 21,000 40,597 6,300 36,165 19,611 8,573 8,842 35,864 313,878 1,179,826 |
(775,473) (68,389) (843,862) (843,862) - (21,946) (69,877) (34,173) (5,580) (39,051) (21,000) (40,597) - (36,165) (19,611) - (8,842) (35,864) (332,706) (1,176,568) |
(78,673) 78,673 - - - - - - - - - - - - - - - - - - |
11,802 331,483 343,285 |
| 483,876 | |||||
| 31,491 6,016 - - 3,720 - - - 6,714 - - 8,573 - - 56,514 |
|||||
| 540,390 |
Page 31
AGE UK LINDSEY (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
18. Statement of funds (continued)
General funds:
Designated funds:
Strategic plan:
These funds have been earmarked by the Trustees of Age UK Lindsey to be spent on the befriending service and the development of any other initiatives as identified in the Strategic Plan.
Free reserves:
The unrestricted reserves of the charity are expendable at the discretion of the charity Trustees in the furtherance of the charitable objectives.
The charity received grants from CAF, Lincolnshire Community Foundation and Key Fund Investments Limited to support general activities of the charity.
Fixed asset reserve:
The fixed asset general reserve represents the net book value of fixed assets purchases from general funds.
Restricted funds:
Gertrude Penney Bequest Fund:
This fund is for the relief of suffering of older people living in East and West Lindsey. In previous years, applications have been confined to cases of hardship but can be for anything that contributes towards the relief of physical or mental suffering of older people. During the year income into the fund was the interest received on the cash deposits held.
Eon Benefits:
To provide information and advice sessions with emphasis on saving money on energy and/or finding money to help with paying for energy bills.
Big Lottery Grant - Benefits Advice Project:
As part of the merger the Lottery grant Age UK North Lincolnshire received was transferred to Age UK Lindsey. The grant is for the Information & Advice service within North Lincolnshire. The funding is used to provide home visits to individuals for benefits checks to ensure they are receiving everything they are entitled to. The office for these employees is in Barton Upon Humber where a monitoring officer is based to take referrals and advise as appropriate.
DfT Bus Operators Grant:
A grant from the Department for Transport (DfT) provided restricted funding for the purchase of two new mini buses. This balance represents the Fixed Assets still to depreciate and is not a monetary fund. In the year both minibuses were disposed of leaving a £Nil balance at 31 March 2021.
Hospital Discharges:
North Lincolnshire Council provided restricted funding for the purchase of two people carriers to reduce hospital discharge times. In the prior year North Lincolnshire CCG provided additional funding for revenue costs to support the reduction of hospital discharge times. The balance of £3,720 at 31 March 2021 is made up of Fixed Assets which are still to depreciate. There was no monetary fund remaining.
Page 32
AGE UK LINDSEY (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
18. Statement of funds (continued)
Henry Smith I&A Grant:
The Henry Smith Charity has awarded a grant towards a project providing information and advice for older people in East and West Lindsey in Lincolnshire. The grant should be spent towards the salary and on-costs of four part time Information and Advice Officers over a three year period.
Later Life Goals Grant:
This grant through Age UK is to be used to support individuals as they go through significant life events to help achieve individual goals, tackle loneliness and reduce financial hardship.
Henry Smith Keep Connected Grant
These funds have been awarded to support the charity's befriending service and the Keep Connected services.
Eon Handyperson Project:
This project aim was to carry out energy checks and to provide energy saving equipment such as radiator foils, draft exclusers and low energy light lightbulbs.
T.E.D Befriending Project:
These funds are awarded by T.E.D East Lindsey for the purpose of improving the quality of life for older people living in the East Lindsey area. The project focus is Socialisation and Friendship among older people. The grant is to be used to employ a Befriending Co-Ordinator and two Senior Befriender's, as well as other costs associated with the project.
T.E.D Lunch Clubs Project:
These funds are awarded by T.E.D East Lindsey for the purpose of developing new lunch clubs for older people and other food related activities.
Age UK Lottery Grant
These funds are awarded by Age UK to support information and advice and befriending activities. The funds can also be used to support raising public awareness and engaging with older people about their needs and priorities.
CRF Project
Grant funding to support a joint project between Citizen's Advice North Lincolnshire and Age UK Lindsey. The project purpose is to provide tailored support, information and advice to those at risk of social isolation: older and recently bereaved people.
Age UK Keep Connected Grant
These funds have been awarded to support the charity's befriending service and the Keep Connected services.
Statement of funds - prior year
| Balance at | |||||
|---|---|---|---|---|---|
| Balance at | Transfers | 31 March | |||
| 1 April 2019 | Income | Expenditure | in/out | 2020 | |
| £ | £ | £ | £ | £ | |
| Unrestricted funds | |||||
| Designated funds |
Page 33
AGE UK LINDSEY (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
18. Statement of funds (continued)
Statement of funds - prior year (continued)
| Strategic plan designated fund General funds Free reserves Fixed asset reserve Total Unrestricted funds Restricted funds Gertrude Penny Bequest Fund Eon Benefits Big Lottery grant- Benefits Advice Project DfT Bus Operators grant Hospital discharges Henry Smith Grant - I&A Later Life Goals Grant Henry Smith - Keep Connected Tesco 'Bags of Help' Grant Eon Handyperson Project Grant T.E.D. Befriending Project Grant T.E.D. Lunch Clubs project CRF Project |
Balance at 1 April 2019 £ 150,094 Balance at 1 April 2019 £ 61,870 276,166 338,036 488,130 31,272 - - 46,988 14,881 - - - - - - - - |
Income £ - Income £ 1,314,569 - 1,314,569 1,314,569 183 28,458 89,645 - - 40,260 21,000 810 1,000 17,100 40,454 25,331 1,232 |
Expenditure £ - Expenditure £ (1,322,946) (17,963) (1,340,909) (1,340,909) - (28,458) (89,645) (12,815) (5,581) (40,260) (21,000) (810) (1,000) (16,686) (40,454) (25,331) (1,232) |
Transfers in/out £ (9,503) Transfers in/out £ (53,493) 62,996 9,503 - - - - - - - - - - - - - - |
Balance at 31 March 2020 £ 140,591 |
|---|---|---|---|---|---|
| Balance at 31 March 2020 £ - 321,199 321,199 |
|||||
| 461,790 | |||||
| 31,455 - - 34,173 9,300 - - - - 414 - - - |
Page 34
AGE UK LINDSEY (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
18. Statement of funds (continued)
Statement of funds - prior year (continued)
Total of funds
| Balance at 1 April 2019 £ 93,141 581,271 |
Income £ 265,473 1,580,042 |
Expenditure £ (283,272) (1,624,181) |
Transfers in/out £ - - |
Balance at 31 March 2020 £ 75,342 |
|---|---|---|---|---|
| 537,132 |
19. Summary of funds
Summary of funds - current year
Designated funds General funds Restricted funds |
Balance at 1 April 2020 £ 140,591 321,199 75,342 537,132 Balance at 1 April 2019 £ 150,094 338,036 93,141 581,271 |
Income £ - 865,948 313,878 1,179,826 Income £ - 1,314,569 265,473 1,580,042 |
Expenditure £ - (843,862) (332,706) (1,176,568) Expenditure £ - (1,340,909) (283,272) (1,624,181) |
Transfers in/out £ - - - - Transfers in/out £ (9,503) 9,503 - - |
Balance at 31 March 2021 £ 140,591 343,285 56,514 540,390 |
|---|---|---|---|---|---|
| Balance at 31 March 2020 £ 140,591 321,199 75,342 537,132 |
|||||
| Summary of funds - prior year | |||||
| Designated funds General funds Restricted funds |
Page 35
AGE UK LINDSEY (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
20. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Tangible fixed assets Current assets Creditors due within one year Total Analysis of net assets between funds - prior year Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Creditors due in more than one year Total |
Restricted funds 2021 Unrestricted funds 2021 £ £ 3,720 331,487 52,794 287,617 - (135,228) 56,514 483,876 Restricted funds 2020 Unrestricted funds 2020 £ £ 43,473 321,199 - 1 31,869 252,965 - (105,708) - (6,667) 75,342 461,790 |
Total funds 2021 £ 335,207 340,411 (135,228) 540,390 Total funds 2020 £ 364,672 1 284,834 (105,708) (6,667) 537,132 |
|---|---|---|
Page 36
AGE UK LINDSEY (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
21. Reconciliation of net movement in funds to net cash flow from operating activities
| Net income/expenditure for the year (as per Statement of Financial Activities) Adjustments for: Depreciation charges Dividends, interests and rents from investments Profit on the sale of fixed assets Decrease in debtors Increase/(decrease) in creditors Net cash provided by/(used in) operating activities 22. Analysis of cash and cash equivalents Cash in hand Total cash and cash equivalents 23. Analysis of changes in net debt |
2021 £ 3,258 68,389 (183) (5,062) 65,401 42,852 174,655 2021 £ 283,252 283,252 |
2020 £ (44,139) 34,807 (427) (1,850) 6,692 (18,332) (23,249) 2020 £ 162,269 162,269 |
|---|---|---|
| Cash at bank and in hand Debt due within 1 year Debt due after 1 year |
At 1 April 2020 £ 162,269 (20,000) (6,667) 135,602 |
Cash flows At 31 March 2021 £ £ 120,981 283,250 13,333 (6,667) 6,667 - 140,981 276,583 |
|---|---|---|
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AGE UK LINDSEY (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
24. Operating lease commitments
At 31 March 2021 the company had commitments to make future minimum lease payments under noncancellable operating leases as follows:
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Total | ||
| Not later than 1 year | 96,185 | 68,578 |
| Later than 1 year and not later than 5 years | 191,041 | 159,494 |
| Later than 5 years | 78,000 | 9,625 |
25. Related party transactions
Claire Parker-Robson, a Trustee of the charity, is a partner at Wilkin Chapman LLP. Wilkin Chapman provided legal services to the charity in connection to property leases and acquisitions. The total costs paid to Wilkin Chapman were £580 (2020: £303).
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