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2021-03-31-accounts

AGE UK BARNET

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Company no. 03863045 Registered charity no. 1080458

Age UK Barnet

CONTENTS

Page
Reference and Administrative Information 1
Chair and Chief Executive Officer’s Report 2
Trustees’ Report 3
Independent Auditor’s Report 16
Statement of Financial Activities 20
Balance Sheet 21
Statement of Cash flows 22
Notes to the Financial Statements 23

Age UK Barnet

REFERENCE AND ADMINISTRATIVE INFORMATION

Age UK Barnet is registered as a company and charity in England & Wales

Company Number 03863045 Charity Registration Number 1080458

Principal & Registered Office

Ann Owens Centre Oak Lane East Finchley London N2 8LT

Trustees

Trustees in office from 1 April 2020 to the date of this report are as follows: Lorraine Barnet (Chair) Catherine Loveday Martin Benton (Hon Treasurer) Peter Falk Gillian Jordan Sohini Boron John Tacchi Ruth Newrick (appointed 9 February 2021)

Senior Management Team

Chief Executive Officer & Helen Newman Company Secretary

Advisors

Independent Auditor

Knox Cropper LLP Chartered Accountants 65 Leadenhall Street London EC3A 2AD

Solicitors

Bates Wells 10 Queen Street Place London EC4R 1BE

Bankers

CAF Bank Ltd PO Box 289 West Malling Kent ME19 4TA

1

Age UK Barnet

Chair and Chief Executive Officer’s Introduction

Welcome to our 2020-21 Annual Report, which will give you an insight into the work we have done during this most challenging of years and the way we have supported the most vulnerable older people in Barnet.

2020-21 was a year like no other. The Covid 19 pandemic was difficult for all of us but it had a devastating impact on the lives of older people all over the country and in our borough. Normal life was completely disrupted due to lockdowns and for those who were told to shield, everyday matters such as food shopping became an impossible task especially for those without family or other support close at hand. As a key strategic partner for the local authority, Age UK Barnet was an obvious place for them to look for support for the borough’s older people. We were able to redeploy all our staff as we adapted our services and started new ones to meet the emerging needs of our clients.

As well as challenges there were many opportunities

Many of these will stay with us as we look to rebuild and reinvent our services and activities and strengthen our connections with older people.

Thank you, Lorraine Barnet and Helen Newman

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Age UK Barnet Trustees’ Report for the year ended 31 March 2021

The trustees present their report and financial statements for the year ended 31 March 2021.

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association, the requirements of a directors’ report as required by company law, and the Statement of recommended Practice – Accounting and Reporting by Charities; SORP applicable to charities preparing their financial statements in accordance with FRS 102 (second edition – effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

The Charity’s stated objective is to improve the lives of older people in and around the London Borough of Barnet (“the Borough”).

We work to enable older people in Barnet to lead fulfilling and healthy lives and to remain safe and independent in their own homes for as long as possible. We involve older people in designing and providing services and we are committed to making sure these services are of a high quality.

The Trustees referred to the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and in planning future activities. In particular, the Trustees looked at how the planned activities contributed to the aims and activities as set out in the guidance.

The Charity is committed to safeguarding its service users, who may be vulnerable adults. Our Trustees, staff and volunteers are DBS checked in line with legal requirements or best practice and they are provided with training on safeguarding. Any complaints are fully investigated in accordance with the Charity’s complaints policy.

The Trustees keep all charges for services as low as possible to allow the widest possible access. In 2020 trustees made the decision to begin charging for the Handyperson Service although some essential jobs, such as lightbulb replacements, remain free of charge. The Trustees recognise that charges may need to be increased for more of its services in order to ensure that they continue to be available.

In addition to direct services, the Charity takes part in consultations, local partnership meetings and strategy groups and it campaigns to improve the life of older people in the Borough.

ACHIEVEMENTS AND PERFORMANCE

2020-21

The year was dominated by the Covid-19 pandemic which began as Age UK Barnet was emerging from a significant restructure and a reduction in our staff team by a third. This was following considerable reductions to our Neighbourhood Services contract with the local authority which were detailed in last year’s report. As we were adjusting to this new reality, news of the Coronavirus outbreak was emerging in Britain.

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Age UK Barnet Trustees’ Report for the year ended 31 March 2021

With a national lockdown imminent, commissioners at the local authority turned to Age UK Barnet as a key partner in the wider community response. All staff were redeployed to our Covid support programme and we received additional funding to support urgent referrals directly from adult social care.

Our response included rapidly setting up new services:

We received close to 300 calls, emails and web enquiries looking for support every week until the lifting of the first lockdown in July.

We responded to emerging needs with:

NEIGHBOURHOOD SERVICES

We adapted the services we offer as part of this contract which has four main strands:

Wellbeing – digital inclusion, social groups and other activities Falls prevention – footcare, exercise and awareness raising Handyperson – practical support in the home

Later Life Planning – information and advice on a range of issues affecting older people such as benefits, housing and care.

4

Age UK Barnet Trustees’ Report for the year ended 31 March 2021

The year under review was the third year of this contract which was extended following negotiation and with a reduction in the contractual value. It will end in March 2023.

EXTERNAL PROVIDERS - working with local community groups to extend our reach

Age UK Barnet’s long-established partnership with our External Providers enables us to extend our reach throughout the borough and into different communities. Due to reductions in core Neighbourhood Services funding, and with further reductions to come in 2021-22, Age UK Barnet had to make difficult decisions in late 2019 to reduce the number of external organisations it subcontracts.

In 2020-21 we worked with Chipping Barnet Day Centre, Barnet African Caribbean Association, Barnet Asian Women’s Association, Colindale Community Club, Friend in Need, High Barnet Good Neighbour Scheme and the Good Neighbour schemes for Mill Hill & Burnt Oak.

This year the external providers supported 852 clients and their volunteers gave over 11000 hours of their time.

BARNET CONNECT - volunteer led creative, physical and group activities

This project, funded by the National Lottery Community Fund, continued its second year by creatively adapting to the restrictions and embracing technology to offer online events and activities.

These included art classes, cookery workshops , discussion groups, flower arranging, knitting, book clubs, mindfulness and choir.

SOCIAL WALKS getting active and making friends in Barnet’s open spaces Funded by the London Community Fund, Age UK Barnet’s walking project was launched in January 2020 and Age UK Barnet recruited and trained 16 volunteer walk leaders.

Covid 19 restrictions in March 2020, just two months after we had started, meant the walks had to be suspended. Although our efforts were frequently interrupted, the walks were the last face to face activity we were able to offer and the first to re-start when lockdown eased. Despite the restrictions six park walks were established around the Borough, In Friary Park, Dollis Valley Greenwalk, Hampstead Garden Suburb, Oakhill Park, Golders Hill Park and Stephens House and Gardens.

Over the year, 76 walkers participated in 95 walks with 16 volunteers.

CST and Dementia Support

This project, funded by Barnet CCG, aimed to provide CST (Cognitive Stimulation Therapy) to people living with dementia and other support such as carers’ groups. It was part of a wider pilot centred around PCN (Primary Care Network) 5. Unfortunately the lockdowns had a significant impact on the project plans as face to face meeting, more conducive to successful outcomes than online provision, just wasn’t possible. The project is continuing through 21-22.

5

Age UK Barnet Trustees’ Report for the year ended 31 March 2021

VOLUNTEERING giving back to the community

Volunteers have always been at the heart of Age UK Barnet but this year we have taken this to a new level.

As the pandemic hit we were exceptionally lucky to be swamped by offers of help from local people who wanted to support our older population. They have been the backbone of our covid support. Both existing and new volunteers truly went that extra mile.

In total our volunteers gave over 38000 hours which has a calculable economic value of close to £500,000.

As services begin to open up again we are looking at developing some new roles for volunteers and also planning for volunteering involvement in our new Dementia Services.

BARNET SOCIAL PRESCRIBING SERVICE Signposting & connecting people to local community activities & services Age UK Barnet took on management of the Social Prescribing service in the borough during the year. This enables the organisation, through the link workers, to engage with hard to reach groups.

The team supports adults in Barnet, offering local information and advice for nonmedical based needs that are negatively affecting their health and wellbeing. The most common reasons for referrals for this service over this last year were for social support, housing information, mental health, benefits support, and carers support.

Attached to Primary Care Networks, the social prescribing link worker team has grown from seven staff members to 17 over the last year and they all worked hard to support the covid 19 response, whilst continuing to support patients across the GP practices in Barnet.

INCOME GENERATION

Developing new strands of income has been a key strategic aim for Age UK Barnet as a way of reducing the organisation’s dependence on statutory funding and this was particularly important in 2020-21 following the renegotiation of the Neighbourhood Services contract.

Covid-19 overtook our plans to reshape services to fit the new funding landscape though and, with the support of our commissioners at the local authority, we had to respond to the new needs of older people.

We were fortunate to receive increased donations and direct support and thanks are due to local friends Hampstead Garden Suburb Fellowship and Barnet Together who helped support our services including our keeping in touch projects such as Christmas cards and lockdown letters.

Our volunteers went to new lengths to support us. Befriending volunteer Natalie walked the length of the Northern Line in memory of her friend Joan and Lydia

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Age UK Barnet Trustees’ Report for the year ended 31 March 2021

galvanised her work colleagues to fund a new freezer for us. Others signed up for the Royal Parks half marathon, sadly postponed to October 2021.

Nationally new sources of funding became available and we were delighted to be successful with our applications to the London Community Response Fund and to the National Lottery for short-term projects.

Age UK also increased their support as a result of their national Emergency Appeal which they shared with brand partners up and down the country and we were able to access funding to increase capacity across our befriending service. This was much needed.

Age UK Barnet also began new arrangements with GPs and Public Health Barnet to deliver social prescribing and with our CCG (Clinical Commissioning Group) to provide support to people living with dementia. At the end of 2020 we worked with Public Health to set up volunteer support for people who couldn’t access the national covid testing system. At the end of the year Age UK Barnet was also preparing to begin delivery of Dementia Support Services under contract to the local authority.

The year began with financial uncertainty following the reductions to our Neighbourhood Services contract but it ended with Age UK Barnet in a more secure position. This is due to the new contracts, successful grant fundraising, increased donations and support from unexpected sources that were completely unforeseen.

One of these was the COMF (Contain Outbreak Management Fund) which provided government money to local authorities to reduce the impact of Covid-19. Age UK Barnet received a one-off payment of £50,000 from this as an investment in our longer term resilience and sustainability.

Trustees plan to invest this in rebuilding our provision for older people after the pandemic and in establishing new activities and services to meet emerging needs. We are looking at expanding our home support offer to include a PA type service and also at offering more in depth support with Powers of Attorney and will-writing.

COMMUNICATION

Our website was our main source of information for older people in the borough during the pandemic and had 160,000 hits. Many of these, some 40,000 were to the scams pages which reflected older people’s concerns about rogue traders and scammers, which became a particular worry for older people during the year.

Our social media presence has grown rapidly and in 2020-21 our followers on Twitter and Facebook jumped to over 2,500 with an average reach per month of 27,000.

We increased our engagement with local community groups through neighbourhood chat rooms like nextdoor and local Facebook groups. This was particularly effective in our appeal for emergency food supplies, donations for our Christmas hampers and Smiles to your door treats.

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Age UK Barnet Trustees’ Report for the year ended 31 March 2021

Our Instagram account has successfully engaged with local businesses and the number of followers more than doubled to 950 over the year. We received donations of PPE equipment and food through our Instagram posts.

We delivered our newsletter by email for the first time and sent it out monthly to over 1,200 subscribers, keeping everyone informed about local activities and services and tackling some of the main concerns.

Looking forward

Trustees recently revisited our strategic plan and, together with staff, agreed these goals for 2021-2024:

Our aims for 2020-2021 and our progress towards achieving them during the year:

We have gone a long way towards achieving the aims we set out in our last annual report/review but some will continue to remain relevant for 21-22 and beyond..

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Age UK Barnet Trustees’ Report for the year ended 31 March 2021

FINANCIAL REVIEW

For the year end 31 March 2021 Age UK Barnet had the following;

2021 2020
£ £
Income 1,139,021 932,770
Total Expenditure 947,352 945,408
Net Assets 538,091 349,296
General Unrestricted Funds 307,195 126,917
Designated Funds 165,646 165,646
Restricted Funds 65,250 56,733

The main source of income for the year was from contracts for the provision of charitable services from the London Borough of Barnet.

The Charity’s Neighbourhood Services Contract with the London Borough of Barnet was originally for three financial years from 1 April 2018 i.e until 31 March 2021, and

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Age UK Barnet Trustees’ Report for the year ended 31 March 2021

was extended for a further two financial years with the agreement of the Local Authority, so runs until 31 March 2023.

During this year the Charity was also awarded a Dementia Support Services contract with the London Borough of Barnet which runs for five years from 1 April 2021 to 31 March 2026.

Employment costs comprised 77% of the total resources expended by the charity in the year. In the previous year they accounted for 65%.

The Charity relies heavily on the commitment and hard work of its staff, its volunteers and its Board of Trustees.

The established systems and procedures for Trustees and employees have been adhered to and areas of training and development are kept under constant review. Staff performance reviews are undertaken at appropriate intervals and formal appraisals take place yearly with interim reviews taking place more frequently as appropriate. Training is made available to all staff.

Funding sources and fundraising

The Charity has been pursuing a detailed fundraising strategy which is available to all staff and stakeholders. In summary, we are conscious of the advisability of diversifying our sources of income, given our continued reliance on contract income to fund our range of services from the London Borough of Barnet. The Charity has an active policy of applying for grants from grant making charities to fund appropriate additional charitable services and activities which are intended to enhance the core services which we provide and which are described in this report.

In 2020-2021 we were successful with a number of applications:

The Charity was advised by freelance consultant Rob Hamilton on these and other grant applications during the year.

Our level of expenditure on fundraising has not required the Charity to register with Fundraising Regulator but we will keep the position under review in the current financial year. The Charity has regard to best practice and all applicable legal requirements in its fundraising activities including compliance with data protection requirements. There have been no failures on the part of the Charity to comply with any applicable fundraising standards and there have been no complaints about fundraising activity received by the Charity. The Charity does not solicit donations directly by post or by any other means of communication. Any members of staff or

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Age UK Barnet Trustees’ Report for the year ended 31 March 2021

volunteers engaged in fundraising activity are made aware of all legal and other requirements applicable in that connection.

Reserves policy

This year trustees revisited the reserves policy and, having taken external advice, agreed it would be prudent to retain approximately three months running costs in case of a loss of contract income or in the event of a wind up process.

Based on the year under review three months running costs are approximately £303,000. Our current free reserves are in line with this requirement.

The Covid-19 crisis undoubtedly put additional pressure onto charities and Age UK Barnet was no exception. There is inevitably uncertainty and concern though about the financial challenges that may lie ahead for us. Age UK Barnet has so far been fortunate that funders have been flexible in their approach and indeed has attracted new, albeit short-term, funds from a number of sources.

Investment of liquid resources

The Trustees consider it appropriate to invest monies not required for the charity's operations in the short term in units in common investment schemes established in accordance with sections 96 and 100 of the Charities Act 2011. The trustees' policy is to minimise the risks of significant fluctuations in the value of such investments by investing in fixed interest rather than equity-based units, and to achieve a greater rate of return than would be available from bank deposits.

The trustees remain content that the investment policy outlined above is suited to its current circumstances but will review at regular intervals.

Bank balances are held in interest-bearing deposits other than the current account.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Incorporation and governing document

Age UK Barnet was incorporated on 21 October 1999 as a company limited by guarantee and was registered as a charity by the Charity Commission for England and Wales on 26 April 2000. It was originally called Age Concern Barnet.

As a company, it is governed by its Memorandum and Articles of Association. At an EGM in December, trustees and members passed a special resolution to adopt a new constitution which had been pre-approved by the Charity Commission and recommended by Age UK. The biggest change is that as of April 1st 2021, trustees are the Charity’s only members.

Management and trustees

Day to day responsibility for the operations of the Charity during the year rested with the Chief Executive Officer, Helen Newman, who works closely with the trustees.

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Age UK Barnet Trustees’ Report for the year ended 31 March 2021

The Trustees, who are also the directors of the company, are responsible for determining the policy of the Charity and for making major decisions regarding its operations. There is a scheme of delegation in place under which the scope of the authority of the Chief Executive Officer is made clear and under which certain key decisions affecting the Charity are required to be referred back to the Trustees by the Chief Executive Officer.

Operational management of the Charity under supervision of the Board and under these detailed terms of delegation is entrusted to the Chief Executive Officer and to certain named senior staff members. The Board of directors, the Chief Executive and the above members of the Charity’s senior management team together comprise the key management personnel of the Charity and are together responsible for directing and controlling, running and operating the Charity on a day to day basis.

Staff salaries are reviewed annually and normally increased in accordance with average earnings. In view of the nature of the Charity, the directors benchmark against pay levels in other voluntary organisations of a similar size.

Trustees are required to declare any conflict of interest to the Chair at every trustee meeting. The Trustees make a written declaration of their interests every year to the Company Secretary prior to the AGM.

Appointment of trustees

The appointment of Trustees is governed by the company’s Articles of Association. The Chair and up to eight individuals are elected at the AGM. They normally serve for a maximum of two terms of three years but, by exception and with agreement of the board this can be extended for a third term of three years. The Chair is limited to two terms of office. Through the year the board may co-opt up to three individuals as Board members who then serve until election at the next AGM.

Serving trustees

The names of the trustees who served during the year and those who were in office at the date of this report are set out on page 1.

Recruitment and training

New trustees are recruited through various methods including trustee contacts, contacts with local voluntary organisations, advertising on appropriate websites and in the press.

All new trustees are given a thorough induction as well as copies of key documents such as the Memorandum and Articles of Association, Trustee Handbook, the most recent trustees’ report and audited financial statements and the latest monthly management financial statements. They are also required to complete a questionnaire designed to identify any conflicts of interest that may arise from personal relationships or membership of other organisations and to confirm that there is no legal impediment to their becoming trustees. Existing trustees are requested to complete the questionnaire annually.

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Age UK Barnet Trustees’ Report for the year ended 31 March 2021

Trustees are encouraged to pursue training opportunities to increase their knowledge and to develop their awareness and skills so they can contribute to a strong and effective trustee board.

Risk management

The Trustees periodically identify the major operational, financial and legal risks to which the Charity is exposed and a copy of the Charity’s risk register, as amended from time to time, is reviewed by trustees on a regular basis. Measures are taken to manage the risks that have been identified.

The trustees have a risk management strategy which comprises:

This work has identified that financial sustainability is the major financial risk for the charity. A key element in the management of financial risk is a regular review of available liquid funds to settle debts as they fall due, regular liaison with (a) the London Borough of Barnet to ensure that contractual income is paid promptly and when due to the Charity (b) the Charity’s own bank in connection with cash flow management, and active management of trade debtors and creditors balances to ensure sufficient working capital by the charity. We work closely with London Borough of Barnet staff to ensure compliance with our contractual obligations including meeting quarterly key performance indicators and other measures so as to preserve the flow of contractual income then due to us under the LBB contracts in place during the year and subsequent years.

A fundraising strategy is in place both for community fund raising (including lifetime donations and for gifts by Will) and for raising funds from grant applications from grant making charities and foundations to seek to ensure that the Charity’s sources of funding are properly diversified.

Financial controls

Appropriate internal control procedures in line with best practice are in place in line with recommendations made by the auditors and Age UK (the national charity).

An annual budget is prepared and approved by the Trustees as soon as possible following the beginning of each financial year.

Detailed management financial statements are made available to the Trustees on a quarterly basis.

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Age UK Barnet Trustees’ Report for the year ended 31 March 2021

Statement of Trustees Responsibilities

The trustees (who are also directors of the charity 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 which give a true and fair view of the income and expenditure of the charitable company and its state of affairs at the end of that period.

In preparing those statements the Trustees are required to:

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

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

The opinion of the trustees is that the company is entitled to the exemptions conferred by Section 477 of the Companies Act 2006 relating to small companies.

Auditors

In accordance with company law as the company's directors, we certify that: so far as we are aware, there is no relevant audit information of which the charitable company's auditor is unaware; and as directors of the charitable company we have taken all the steps that we ought to have taken, in order to make ourselves aware of any relevant audit information and to establish that the charitable company's auditor is aware of that information.

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Age UK Barnet Trustees’ Report for the year ended 31 March 2021

Knox Cropper LLP were appointed auditors to the company and, in accordance with the Companies Act 2006, a resolution proposing that they be re-appointed will be put to the Annual General meeting.

The financial statements were approved by the board on 9 December 2021 and were signed on its behalf by:

Lorraine Barnet Trustee

Martin Benton Trustee

15

Independent Auditor’s Report to the members of the Age UK Barnet

Opinion

We have audited the financial statements of Age UK Barnet (the ‘charitable company’) for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Balance Sheet, Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, 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 of opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the 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.

16

Independent Auditor’s Report to the members of the Age UK Barnet (continued)

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditors’ report thereon. The trustees are responsible for the other information.

Our opinion on the financial statements does not cover the other information and 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 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 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.

Opinion on other matters prescribed by the Companies Act 2006

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

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 included within the trustees’ report.

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

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Independent Auditor’s Report to the members of the Age UK Barnet (continued)

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 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 company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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Independent Auditor’s Report to the members of the Age UK Barnet (continued)

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 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.

Simon Goodridge Senior Statutory Auditor for and on behalf of Knox Cropper LLP Statutory Auditor 65 Leadenhall Street London EC3A 2AD

15 December 2021

19

Age UK Barnet Statement Of Financial Activities For The Year Ended 31 March 2021

Notes
INCOME AND ENDOWMENTS FROM
Charitable activities
2
Other trading activities
3
Investment income
4
Donations and legacies
5
TOTAL INCOME
EXPENDITURE ON
Fundraising
Charitable Activities
Services for older people
6
TOTAL RESOURCES EXPENDED
7(b)
Gains/ (losses) on investments
10
NET INCOME/(EXPENDITURE)
Gross transfers between funds
16
NET MOVEMENT IN FUNDS
Reconciliation of Funds:
Total Funds brought forward
Total funds carried forward		 Unrestricted
Funds
£
660,847
43,005
7,042
39,852
750,746
7,768
549,712
557,480
(2,874)
190,392
(10,114)
180,278
292,563
472,841		 Restricted
Funds
£
388,275
-
-
-
388,275
-
389,872
389,872
-
(1,597)
10,114
8,517
56,733
65,250		 2021
Total
£
1,049,122
43,005
7,042
39,852
1,139,021
7,768
939,584
947,352
(2,874)
188,795
-
188,795
349,296
538,091		 Unrestricted
Funds
£
768,160
28,629
7,584
23,814
828,187
31,129
839,452
870,581
(1,204)
(43,598)
22,231
(21,367)
313,930
292,563		 Restricted
Funds
£
73,731
-
52
30,800
104,583
-
74,827
74,827
(805)
28,951
(22,231)
6,720
50,013
56,733		 2020
Total
£
841,891
28,629
7,636
54,614
932,770
31,129
914,279
945,408
(2,009)
(14,647)
-
(14,647)
363,943
349,296

The notes on pages 23 to 35 form part of these financial statements.

20

Age UK Barnet Balance Sheet As At 31 March 2021

Notes
FIXED ASSETS
Tangible assets
9
Investments
10
CURRENT ASSETS
Debtors
12
Cash at bank and in hand
CREDITORS: AMOUNTS FALLING
DUE WITHIN ONE YEAR
13
NET CURRENT ASSETS
NET ASSETS
17
FUNDS
Restricted Reserve
16
Unrestricted Funds
15
Designated
General
TOTAL FUNDS		 2021
£
43,089
208,238
251,327
69,688
296,423
366,111
(79,347)
286,764
538,091
65,250
165,646
307,195
472,841
538,091		 2020
£
39,233
211,112
250,345
39,885
125,482
165,367
(66,416)
98,951
349,296
56,733
165,646
126,917
292,563
349,296

The notes on pages 23-35 form part of these financial statements.

The financial statements were approved by the Board of Trustees on 9 December 2021 and signed on their behalf by:

Lorraine Barnet Trustee

Martin Benton Trustee

DATE: 9 December 2021

Company no. 3863045

21

Age UK Barnet Statement of Cash Flows Year ended 31 March 2021

2021 2020
£ £
Cash flows from operating activities:
Net cash provided by/(used in) operating activities 176,787 (19,505)
Cash flows from investing activities:
Dividends and interest from investments 7,042 7,636
Purchase of property, plant and equipment (12,888) (36,423)
Net cash provided by/(used in) investing activities (5,846) (28,787)
Change in cash and cash equivalents in the
reporting period 170,941 (48,292)
Cash and cash equivalents at the beginning of the
reporting period 125,482 173,774
Cash and cash equivalents at the end of the
reporting period 296,423 125,482
Reconciliation of net income/(expenditure) to net cash flow from operating
activities
2021 2020
£ £
Net income/(expenditure) for the reporting period 188,795 (14,647)
Depreciation charges 9,032 6,145
(Gains)/losses on investments 2,874 2,009
Dividends and interest from investments (7,042)
(7,636)
(Increase)/decrease in debtors (29,803)
(30,050)
Increase/(decrease) in creditors 12,931 24,674
Net cash provided by/(used in) operating activities 176,787 (19,505)

22

Age UK Barnet Notes To The Financial Statements For The Year Ended 31 March 2021

1. PRINCIPAL ACCOUNTING POLICIES

(a) Basis of Preparation

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

Age UK Barnet is a private company limited by guarantee incorporated in England and Wales. The registered office is Ann Owens Lane, Oak Lane, London, N2 8LT, United Kingdom.

In applying the financial reporting framework, the trustees have made a number of subjective judgements, for example in respect of significant accounting estimates. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The nature of the estimation means the actual outcomes could differ from those estimates. Any significant estimates and judgements affecting these financial statements are detailed within the relevant accounting policy below.

(b) Going Concern

Trustees are required to consider whether the financial statements can properly be prepared based on it continuing as a going concern, and by this is meant, (inter alia), that the charity is financially stable enough to meet its obligations and continue its business for the foreseeable future. Foreseeable future is usually defined as the following 12 months.

This matter is reviewed on a regular basis by the senior management and trustees, who have taken into account the following matters:

As part of our regular reviews of the charity’s financial situation we are also mindful of the business continuity plan dated May 2021 and our general review of June 2021.

On the basis of the above work and current financial position of the Charity, the trustees do not believe there are any material uncertainties about Age UK Barnet’s ability to continue as a going concern.

23

Age UK Barnet Notes To The Financial Statements For The Year Ended 31 March 2021

(c) Income

Contract income is accounted for in the period for which the contracts are awarded; contract income received in respect of future periods is deferred. Amounts recharged to other organisations are accounted for in the period in which the related expense is incurred; other incoming resources when they are receivable.

(d)

Expenditure

Expenditure is allocated between costs of charitable activities and costs of fundraising.

The amounts allocated to each category comprise those costs which are directly attributable to that category together with an apportionment of support costs. Support costs are those costs that are not directly attributable to a single activity but provide the necessary organisational support for all the charity's activities. The bases of allocation of support costs are explained in note 7(b).

Governance costs comprise the costs of external and internal audit, legal advice for the trustees on corporate matters and those associated with constitutional and statutory requirements. They include an apportionment of the salaries of certain staff.

(e) Tangible fixed assets

Tangible fixed assets costing less than £500 are written off in the statement of financial activities in the period in which the expenditure is incurred. The cost of other tangible fixed assets is capitalised and depreciated over the estimated useful lives of the assets, as follows:

Computers and software 3 years
Motor vehicles 3-7 years
Office, furniture & equipment (acquired up to 31 March 2018) 10-20 years
Office, furniture & equipment (acquired after 31 March 2018) 5 years

The resulting net book values are reviewed at each balance sheet date and additional amounts are written off if appropriate.

Grants received for the purpose of acquiring tangible fixed assets are credited to a restricted fund at the time of receipt, as is the estimated cost of assets that are directly donated to the charity. Depreciation of all such assets is charged against the restricted fund concerned.

(f) Investments

Investments are stated at the mid-point between the manager's bid and offer prices for units.

(g) Recognition of liabilities

Transfers between funds

(i)

Financial instruments

The company 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.

24

Age UK Barnet Notes To The Financial Statements For The Year Ended 31 March 2021

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

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

Basic financial assets

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

Basic financial liabilities

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

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 company’s contractual obligations expire or are discharged or cancelled.

(j) Cash and cash equivalents

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

(k) Employee benefits

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee.

25

Age UK Barnet Notes To The Financial Statements For The Year Ended 31 March 2021

2. Income from charitable activities

Neighbourhood Services
Social Prescribing
Barnet Connect
Covid Response
Other projects
Comprising:
Local Authority income -
London Borough of Barnet
Grants
Charges to clients for services		 Unrestricted
Funds
Restricted
Funds
Total
2021
£
£
£
660,147
-
660,147
-
161,395
161,395
-
77,349
77,349
-
71,209
71,209
700
78,322
79,022
660,847
388,275
1,049,122
600,998
2,521
603,519
37,263
384,097
421,360
22,586
1,657
24,243
660,847
388,275
1,049,122		 Unrestricted
Funds
Restricted
Funds
Total
2020
£
£
£
764,543
-
764,543
-
-
-
-
65,170
65,170
-
-
-
3,617
8,561
12,178
768,160
73,731
841,891
660,025
-
660,025
-
69,475
69,475
108,135
4,256
112,391
768,160
73,731
841,891

3. Other trading activities

Other trading activities
Age UK Partnership Income
Age UK London Pan London Trading Income
Fundraising
Other income		 Unrestricted
Funds
Restricted
Funds
Total
2021
£
£
£
36,068
-
36,068
-
-
-
2,217
-
2,217
4,720
-
4,720
43,005
-
43,005		 Unrestricted
Funds
Restricted
Funds
Total
2020
£
£
£
15,000
-
15,000
6,179
-
6,179
7,450
-
7,450
-
-
-
28,629
-
28,629

26

Age UK Barnet Notes To The Financial Statements For The Year Ended 31 March 2021

4. Investment income

Investment income
Interest received
Investment income		 Unrestricted
Funds
Restricted
Funds
Total
2021
£
£
£
62
-
62
6,980
-
6,980
7,042
-
7,042		 Unrestricted
Funds
Restricted
Funds
Total
2020
£
£
£
754
21
775
6,830
31
6,861
7,584
52
7,636

5. Donations and Legacies

Donations and Legacies
Donations and gifts Unrestricted
Funds
Restricted
Funds
Total
2021
£
£
£
39,852
-
39,852
39,852
-
39,852		 Unrestricted
Funds
Restricted
Funds
Total
2020
£
£
£
23,814
30,800
54,614
23,814
30,800
54,614

6. Expenditure on charitable activities charitable activities Services for older people

Services for older people
Neighbourhood Services
Social Prescribing
Barnet Connect
Covid Response
Other projects		 Unrestricted
Funds
Restricted
Funds
Total
2021
£
£
£
548,351
-
548,351
-
146,562
146,562
-
87,418
87,418
-
71,802
71,802
1,361
84,090
85,451
549,712
389,872
939,584		 Unrestricted
Funds
Restricted
Funds
Total
2020
£
£
£
813,760
503
814,263
-
-
-
25,692
73,462
99,154
-
-
-
-
862
862
839,452
74,827
914,279

27

Age UK Barnet Notes To The Financial Statements For The Year Ended 31 March 2021

7. TOTAL EXPENDITURE

a) Employment costs

TOTAL EXPENDITURE
a) Employment costs		 TOTAL EXPENDITURE
a) Employment costs
2021
Total
£
Salaries
661,103
Employer National Insurance contributions
51,202
Pension contributions
12,988
Redundancy costs
-
725,293
Actual numbers
2021
2020
Older people services
30
32
Support staff
6
3

36
35		 2020
Total
£
547,475
37,444
10,077
18,144
613,140
Full time equivalents
2021
2020
23.8
17
3.6
2

27.4
19
Full time
2021
23.8
3.6

27.4
19

No employee earned £60,000 per annum or more during the year (2020: nil).

At the end of the accounting period on 31 March 2020, Neighbourhood services were restructured as a result of a review of services to be funded by Barnet Council, which resulted in a restructure where a number of roles were made redundant. The redundancy costs are included above within the 2020 figures.

The National Council for Voluntary Organisations (NCVO) recently published an enquiry report into charity executive pay and recommends that charities go further in terms of disclosure and name the highest paid staff. In the interest of transparency, the Charity hereby discloses that in 2020-21, the Chief Executive Officer’s salary was in the range between £50,000 and £60,000 (2019-20: in the range between £50,000 and £60,000). As indicated in the Directors Report, the Chief Executive Officer (who is also the Company Secretary) is Helen Newman.

The Charity trustees were not paid or received any other benefits from employment with the Charity in the year (2020: £nil). They were reimbursed expenses of £nil during the year (2020: nil). No trustee received payment for professional or other services supplied to the charity (2020: nil).

The key management personnel of the charity were the Chief Executive Officer. Total salaries and wages of the key management personnel of the charity were £58,443 (2020: £58,469). Total employer pension contributions for the key management personnel of the charity were £2,193 (2020: £2,193).

28

Age UK Barnet Notes To The Financial Statements For The Year Ended 31 March 2021

b) Expenditure analysis

Raising Funds
Fundraising
Charitable Activities
Neighbourhood Services
Social Prescribing
Barnet Connect
Covid Response
Other projects		 Direct Costs
Support Costs
Total 2021
£
£
£
7,207
561
7,768
406,702
141,649
548,351
136,562
10,000
146,562
64,777
22,641
87,418
56,602
15,200
71,802
64,022
21,429
85,451
728,665
210,919
939,584
735,872
211,480
947,352		 Direct Costs
Support Costs
Total 2020
£
£
£
25,083
6,046
31,129
742,657
71,606
814,263
-
-
-
99,154
-
99,154
-
-
-
862
-
862
842,673
71,606
914,279
867,756
77,652
945,408

Following a restructuring of the charity’s activities in March 2020 there were changes to the allocation of expenditure between direct and support costs in the current year.

Support costs largely comprise premises costs and support staff salaries.

29

Age UK Barnet Statement Of Financial Activities For The Year Ended 31 March 2021

Included in Support costs are Governance costs comprising:

Salaries
Audit Fee
Other
Trustee Expenses		 2021
£
1,684
7,200
2,627
-
11,511		 2020
£
2,814
8,622
1,523
200
13,159

8. TAXATION

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

9. TANGIBLE FIXED ASSETS

Cost
As at 31 March 2020
Additions
Disposals
At 31 March 2021
Accumulated Depreciation
As at 31 March 2020
Charge for the year
Disposals
At 31 March 2021
Net Book Value 31 March 2021
Net Book Value 31 March 2020		 Motor vehicles
Computers
Office
furniture &
& software
equipment
£
£
£
69,758
18,263
29,499
-
9,828
3,060
-
-
(1,581)
69,758
28,091
30,978
35,953
17,066
25,268
5,270
1,938
1,824
-
-
(1,581)
41,223
19,004
25,511
28,535
9,087
5,467
33,805
1,197
4,231		 Total
£
117,520
12,888
(1,581)
128,827
78,287
9,032
(1,581)
85,738
43,089
39,233

30

Age UK Barnet Statement Of Financial Activities For The Year Ended 31 March 2021

10.
INVESTMENTS
Market Value
At 31 March 2020
Loss on revaluation
At 31 March 2021
The investments comprise COIF Fixed Interest Fund income units which had
11.
FINANCIAL INSTRUMENTS
Carrying amount of financial assets
Debt instruments measured at amortised cost
Carrying amount of financial liabilities
Measured at amortised cost
12.
DEBTORS
Income receivable
Prepayments
13.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
Trade creditors
Taxation and social security
Accruals and other creditors
Deferred income
14.
DEFERRED INCOME
Balance at 1 April 2020
Amount released to incoming resources
Amount deferred in the year
Balance at 31 March 2021		 2021
£
2020
£
211,112
213,121
(2,874)
(2,009)
208,238
211,112
a historic cost of £206,105.
2021
£
2020
£
68,612
37,252
61,197
53,852
2021
£
2020
£
68,612
37,572
1,076
2,313
69,688
39,885
2021
£
2020
£
5,291
6,930
18,150
12,564
18,427
12,328
37,479
34,594
79,347
66,416
2021
£
2020
£
34,594
-
(34,594)
-
37,479
34,594
37,479
34,594		 2020
£
213,121
(2,009)
211,112
39,885
2020
£
6,930
12,564
12,328
34,594
66,416
2020
£
-
-
34,594
34,594

31

Age UK Barnet Statement Of Financial Activities For The Year Ended 31 March 2021

15. UNRESTRICTED FUNDS

Designated funds
Repairs
Contingencies
Unrestricted funds
General funds		 31
March
2020
Incoming
resources
Resource
s
expended
Transfer
between
funds
Invest-
ments
31
March
2021
£
£
£
£
£
£
15,646
-
-
-
-
15,646
150,000
-
-
-
-
150,000
165,646
-
-
-
-
165,646
126,917
750,746
(557,480)
(10,114)
(2,874)
307,195
292,563
750,746
(557,480)
(10,114)
(2,874)
472,841

Designated funds are as follows:

Repairs fund

The repairs fund has been set aside to meet major expenditure on repairs and maintenance of premises and vehicles for which the charity may be responsible in future.

Contingencies fund

Amounts have been set aside in the contingencies fund: (a) to mitigate the impact of agreed contractual reductions in our Neighbourhood Services contract so the charity can continue to service as many people as possible (b) enable investment in service expansion to support pandemic recovery

Comparative information in respect of the preceding period is as follows:

Designated funds
Repairs
Contingencies
Unrestricted funds
General funds		 1 April
2019
Incoming
resources
Resource
s
expended
Transfer
between
funds
Invest-
ments
31
March
2020
£
£
£
£
£
£
15,646
-
-
-
-
15,646
150,000
-
-
-
-
150,000
165,646
-
-
-
-
165,646
148,284
828,187
(870,581)
22,231
(1,204)
126,917
313,930
828,187
(870,581)
22,231
(1,204)
292,563

32

Age UK Barnet Statement Of Financial Activities For The Year Ended 31 March 2021

16. RESTRICTED FUNDS

Social prescribing
Barnet Connect
Covid response
Other projects
Dementia choir & Walking
Project
Personal grants		 31
March
2020
Incoming
resources
Resources
expended
Transfer
between
funds
Invest-
ments
31
March
2021
£
£
£
£
£
£
-
161,395
(146,562)
-
-
14,833
(45)
77,349
(87,418)
10,114
-
-
-
71,209
(71,802)
-
-
(593)
-
70,498
(68,826)
-
-
1,672
8,228
7,824
(14,674)
-
-
1,378
48,550
-
(590)
-
-
47,960
56,733
388,275
(389,872)
65,250

Social prescribing

Funding for social prescribing.

Barnet Connect

Funding from The National Lottery. The transfer from unrestricted funds represents the Charity’s contribution from its own funds towards the project.

Covid response

Funding received to support the response to Covid-19. The funding included the following grants:

London Community Foundation £25,400
National Lottery Community Fund
Coronavirus Community Support Fund £22,868
Age UK Covid Appeal £16,384

Other projects

Funds received to support Other services.

Dementia Choir & Walking Project

Grants that may only be used for these activities.

Personal grants fund

The personal grants fund is to be applied to relieve hardship or distress in cases of need by elderly persons resident in the London Borough of Barnet.

The grant fund was originally a legacy from Dr Kathleen Bodkin, who was a long term supporter of one of the original organisations that founded Age Concern Barnet, Age Concern Borough of Barnet (West).

The fund stands at £47,960 and the Charity makes great efforts to publicise the availability of grants under the fund to those in need.

This year we awarded grants totalling £590 to 2 applicants.

33

Age UK Barnet Statement Of Financial Activities For The Year Ended 31 March 2021

16. RESTRICTED FUNDS (continued)

Comparative information in respect of the preceding period is as follows:

Neighbourhood Services
Other services
Dementia Choir & Walking
Project
Barnet Connect
Personal grants		 1 April
2019
Incoming
resources
Resources
expended
Transfer
between
funds
Invest-
ments
31
March
2020
£
£
£
£
£
£
-
30,800
-
(30,800)
-
-
(152)
-
-
152
-
-
-
8,561
(333)
-
-
8,228
-
65,170
(73,632)
8,417
-
(45)
50,165
52
(862)
-
(805)
48,550
50,013
104,583
(74,827)
(22,231)
(805)
56,733

17. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Tangible Fixed Assets
Fixed investments
Net current liabilities
Total		 Restricted
Funds
£

-
78,238
(12,988)
65,250		 Designated
Funds
£
-
130,000
35,646
165,646		 Unrestricted
Funds
£
43,089
-
264,106
307,195		 2021
Total
£
43,089
208,238
286,764
538,091

Comparative information in respect of the preceding period is as follows:

Tangible Fixed Assets
Fixed investments
Net current liabilities
Total		 Restricted
Funds
£

9,215
81,112
(33,594)
56,733		 Designated
Funds
£
-
130,000
35,646
165,646		 Unrestricted
Funds
£
30,018
-
96,899
126,917		 2020
Total
£
39,233
211,112
98,951
349,296

34

Age UK Barnet Statement Of Financial Activities For The Year Ended 31 March 2021

18. FINANCIAL COMMITMENTS

At 31 March 2021 the charitable company had future minimum lease payments under operating leases as follows:

Land & buildings
Expiry date:
In Less than 1 Year
In 2-5 Years		 2021
£
27,396
-
27,396		 2020
£
25,175
27,396
52,691

19. RELATED PARTY TRANSACTIONS

There were no related party transactions in the financial year.

20. MEMBERS LIABILITY

The company is limited by guarantee and has no share capital. The liability of each member in the event of winding up is £1.

35