Irish Elderly Advice Network (A company limiled by guarantee, not havlng a share eapltal) Annual Report and Audited Financial Statemenls For the f inancial year ended 31 March 2024 N7 Accountants & Chartered Certified Accountants and Statutory Auditor Central House, 1 Ballards Lane, London, N3 1LQ Company Number: 5G42515 Charity Number: 1115711
Irish Elderly Advice Network (A company limited by guaranlee, not having a share capital) CONTENTS Page Trustees. Annual Report Statement of Trustees, Responsibilities Independent Auditors Report 8-10 Statement of Financial Activities Balance Sheet Notes to the Financial Statements 13-16 Suppiemeniary Information relating to the FinanGiiil SidlEiiieiits. 20
Irish Elderly Advice Network (A company Ilmlted by guarantee, nol having a share capllal) REFERENCE AND ADMINISTRATIVE INFORMATION Truslees Tom Wheeler (Chairperson) John Bernard O'connor {vi-ChairI Larry O'Leary (Vice-chairl {Rgsigned 26 April 20231 Calherine Mary Martin (Resigned 31 January 2024) Brendan Finnegan {Resigned 26 April 2023) James Clare Finola Marriott Williatn Fdugliiidll Maura Haughey (Resigned 13 December 2023) Maeve Heath John Lane (Resigned 26 April 2023) Chalrperson Tom Wheeler Chief Execulive Off icer Nora Mulready Charity Number in England and Wales 1115711 Company Registration Number 5642515 Regislered Offlce and Principal Address 50-52 Camden Square Luwi(Juii NW1 9XB Audilors N7 Accountants Ltd Central House 1 Ballards Lane London N31LQ Prlnclpal Bankers Nalional Weslminsler Bank PIC 250 Bishopsgate London EC2M 4AA
Irish Elderly Advice Nelwork (A company limlled by guarantee, not having a share capltal) TRUSTEES, ANNUAL REPORT For the flnanciai year ended 31 March 2024 The trustees present their Trustees. Anrtual Report, combining the Directors. Report and Trustees. Report, and the audiled financial statements for the financial year ended 31 March 2024. Tlie financial statements are prepared in accordance with the Companies Acl 2006. FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. and Accounting and Reporting by Charities Statement of Recommended Practice applicable to Gharities preparing their linaiiLidl blalements In accordance with Ihe Finana"al Keporting Standard applicable in the UK and Republic of Ireland {FRS 102). The Trustees, ReF)Ort contains Ihe iiifoIiiidtiun required to be provided in the Trustees. Annual Report under the Statement of Recommended Practice ISORPI giJidp.linp.q. The trustees ol the company are also charity Iruslees for the purwse of Gharity law and under the company's constitution are known as members of the board of trustees. In this report the Iruslees of Irish Elderly Advice Network presenl a summary of ils purpose, governance, activities, achievements and finances for the financial year ended 31 March 2024. Thp. p.ompany is a registered charity and honce the report and results are presented in a form which complies with the requiremenls of the Companies Acl 2006 and, although not obliged io comply with Ihe Slalement of Recommended Practice {SORPI as issued by the Charily Commissioners for England and Wales in October 2005 (updated in 2008), Ihe organisation has implemented ils recommendations where relevant in these financial staleiiieiils. Mission, Objectives and Strategy Mission Statement The Irish Elderly Advice Network is a charity supporting older Irish people and non-lrish people in and around the 32 Greater London boroughs. The aim is to alleviate poverty, isolation, and distress. and to deliver a programme of cducational, social and cultural projects rooled in Irisli culture which enhance people's lives. Over the last year,this oroanisalion has been sucSstu1 in this provision. Structure, Governance and Management Slructure Slalflng Structure Nora Mulready.. CEO Damien Grainger- Assistanl CEO Barbard Bldke: Head of Housing and Caseworker Kieran Parsons.. Senior Caseworker Caroline Hetherton.. Head of HR. Volunteering and Support and Secretary lo the Trustee Board Tom Geiger.. Administrator and Researcher
Irish Elderly Advice Network (A company limited by guarantee, not having a share capital) TRUSTEES, ANNUAL REPORT For the financlal year ended 31 March 2024 Funders We are very grateful for the fundino support wp receive from Ihe following trusts and other sources.. ESP- Emiqrant Support Programme. Department of Foreign Affairs. Irish Govemment ESB (Electricity Supply Board) Lottery- Cost of Living Grant (Community Fund) City Bridge Trust Individual and Business Company Donations - Hackney VCS Fundraising via evenls and activities -C-Field Construction Governance Welfare Our primary welfare objectivp8 are to combat poverty. isolation and distrass, to tackle hou4Jing issues and lo advocate on behalf of individuals in the elderly community who need our support. 2023-2024: Service and Outreach: Phonc Helpline Advice ervICe, Monday to Friday, 10aiTi lu 5prn Face to face appointments by arrangement between Monday and Friday at.. Irish Elders Cultural Cenlre. Hackney Kingsgate Resource Ceiilre, Kilburn East London, monthly outreach during Irish Pensioners Forum of Easl London Tea Dance, 11am lo 3pm - Slratford St Josepli's Pdl ibli Cenlie, Islington IEAN'S office in the London Irish Centre. c.amden Houslng The Irish Elderly Advice Nelwork has built a positive reputation for its housing work. We have grown our relalionsliips INillI various housing associalions and alms-houses across London, which has enabled us to secure good quality. safe housing for OLJr r.lip.nls In addition, we also deal with housing issues and complaints such as substandard conditions, disrepair and maintcnance issues. As we have maintained good relaliuiibliips wilh conlacts wilhin various housing associalions, we are often able to have these issues invesligaled and dp.alt with quickly. Our Head of Housing has worked with 5 housing associations and secured nomination rights for thcir propcrties, meaning we are able to rehouse older people irilu Sale, secure and life-long accommodation in 20 London boroughs.
Irish Elderly Advice Network (A company limited by guarantee, not h2vlng a share eapital) TRUSTEES, ANNUAL REPORT For the financial year ended 31 March 2024 Cultural and social projeels We have focused on delivering the following- Projects which address the needs of disadvantaged. isolated and vulnerable Irish emigranls, in particular Ihe elderly. o.g. new- -Icttors posted to people's houses, and our weekly luiiLlI club. Projects which foster a more vibranl sense of community and Irish identity amongst the Irish abrn2d-, to the benefit of e.g. Irish Pensioner Forum of East London and supporting the Irish Pensioners Choir. Welfare work We supporl ulder Irish people with appiwng tor benefits. UK and Irish pensions. cosl of living payments, financial support through reductions in bills to ulililies companies. applying for grants. and other work which tackles poverty and ensures people have sufficient income to live a 8ecure life with financial iiidvperidenGe and dignity. In 2023-2024 our casework team accessed £3.1 million in financial support for older peoplp. Wc would like to thank everyone viho ha5 suppurted the charity over the last year and we look fOard to the year ahead. Trust8es and CEO. Finance Note from Trustees.. IEAN'S Resetves Policy is 1 month. Financlal Results Al the end of the financial year the company has assets of £164,490 (2023 - £101,770} and liabilities of £110,907 {2023 £58.366) Tru5tee5 The trustees who served throughout the linanciAI ypar. e¥c&pl as nolod. were ag lollows: Tom Wheeler IChairpcrJonl Lairy O'Leary Ivice-chairl (Resigned 26 April 20231 Catherine Mary Martin (Resigned 31 January 20241 Brendan Finnegan {Resigried 26 April 2023) James Clare Finola Marriott Williclm Faughnan Maura Haughey (Resigned 1_4 necember 20231 John Bernard O'connor (Vice-chairl Maeve Heath John Lane IRp%igned 26 April 20231
In accordance with the Articles of Association, the directors retire by rotation. and being eligible, offer themselves for re-election or appointment. Irish Elderly Advice Network (A company limited by guarantee. not having a share capital) TRUSTEES, ANNUAL REPORT for the financial year ended 31 March 2024 Compliance with Sector-wide Legislation and standards The company engages pro-actively with legislation. standards and codes which are developed for the sector. Irish Elderly Advice Network subscribes to and is compliant with the following.. The Companies Act 2006 The Charities 50RP IFRS 1021 The Auditors The auditors, N7 Accountants Ltd have indicated their willingness to continue in office in accordance with the provisions of Section 485 of the Companies Act 2006. Approved by the Board of Trustees on and signed on its behalf bv.. Tom Wheeler Chairper50n. Finola Marriott Trustee
Irish Elderly Advice Network (A company limited by guarantee, nol havlng a share capltal) STATEMENT OF TRUSTEES, RESPONSIBILITIES lor the financial year ended 31 March 2024 The Iiustee$, who are also directors of Irish Ilderly Advice Nolwork lor the purpose of company law, are responsible for proparing ihe linancial slalemenls in accordance with applicable law and regulations. Company law requires Ihe trustees as the directors lo prepare linancial slalemenls lor each linancial year. Under Ihai law Ihe irusiees have elecled lo prepare Ihe Iinancial slalemenls in accordance wilh United Kingdom Generally Accepted Accounling Practi (United Kingdom Accounting Standards and applicable law) including FRS102 "The Financial Reporting standard applicable in the UK and Republic of Ireland.. Under company law the trustees musl not approve the financial slalemenls unless Ihey are satisfied that they give a true and lair view of the slate of allairs ol the company and ol Ihe nel incofne or expenditure ol the company for thal period. In preparing these linancial slalemonls, the trustees are requiied lo.. select suitable accounting policies and apply them consislenlly.. make judgements and accounting eslimales that are reasonable and prudent. slate whether the linancial stalemenls have been prepared in accordance wilh applicable accounting standards, idenlify those slandar(Js. and note the effect and the reasons lor any material departure from those standards. and prepare Ihe financial slalemenls on the going concern basis unless il is inappropriate lo presume Ihal Ihe company will conlinue in operation. The trustees are responsible lor keeping adequale accounting records that are suflicienl lo show and explain the company s Iransaclions and disclose with Teasonable accuracy at any lime Ihp. linanr.ial pnsilinn nf Ihp. rnmpAny And p.nable thp.m lo p.nqiire that the financial slalemenls comply wilh the Companies Act 2006. They are also responsible lor safeguarding the asselb ol Ilie Uvlllvdfiy diKI IigiiLe lur Idkivig re<ibonablE Steps lor Ilie prevention and detection of fraud and other irregularilies. In so far as the trustees are aware-. Ihere is no relevant audit information (information needed by the companls auditor in connection with preparing the audilor's report) of which the company's auditor is ui)awafe, and the truslees have taken all the steps that they ouohl lo have lakon ag Iruslees in order lo make Ihemselves aware ol any relevanl audil information and lo establish that the mpany s audilor is aware ol thal iiiformalioii. Approved by the Board of Trustees on Iw and signed on its behalf bv.. Tvm Wheeler Chairperson. Finola Marrlott Trustee
INDEPENDENT AUDITOR'S REPORT to the Members of Irish Elderly Advice Network IA company limited by guarantse, not having a share ¢apltsll Report on tho audit of the finan¢l#l $tatemnls Opinion We have audited the company finanthal stslements of Irish Ehjerly Advice Netwod( Ilhe company'l forthe financial year ended 31 March 2024 which compnse the Statement of Finanal Activitics lincorporating an Incomè and Exptrnditure Accounll. the Balance Sheel. Ihe Statementofcash Flows and notes to the financial statements, including the summary of significant accounting poliLies vul iii Iivl¥ 2. Tl)v finanoal feportiThJ framework that has been 8pplied in th¢ir preparation is applicable law and United Kingdom Accounting Slandards. I9UdIJ FRS 102 'The Financial Reporting Standarcj applic8ble in tne UK and Republic of Irelan(J" and Accounting di[ ftvFxJrtiiw by Charitie5 OtaleffEnl ol Recommended Practite applicable to chariti.es preparing their accounts in accordance wth FRS 102. In our i¥inion, when reporbng in accordan wth a fair pSenli0n framewo the finanaal Stalennts.. give a Iiue and fair view of Ihe slate ol the cunpany's affrdI as al 31 Marth 2024 armj of f(s surplus foi the financial year then ended., have been properly prepad in accordance with United knngdom Gw)erally Accepted Accwnling Vractice., and have been prepared in ac[dan with the requ1men1$ of the Compans Act 2. Basis for opinion We conducted our audit in a¢wdance with Inlemalional Standards on Auditing IUKI IISAS IUKII and applicab law. Our respon5ibililies under Ihose slandar¢J5 are further described in the Avdilorfs responsibilibes for the audit ot tne financial stslements section ofour report. We a independent of the c4Jnpany in aordan wrth ethical requirements that are levant to our aLKJil ol the financal statements in the UK. indtxling the FRC'S Ethical Standaid, and the Pfovisions Available loi Audits ol Small EntitS, in the urWmsianS sel out in Note 4 to the financial slalements, and we have fulfilled our other ethic21 responsibilities in accordan with these (equirements. We believe that the audit p.vidp.nrp_ wp_ havp rjhtained is sufficEnt and appropriate to provide a basis for our opinion. Conclusions relating to going concem In audits.ng the financial stalements, we have condthled that Ihe trustees. use ol Ihe going (x)nrn basis ol accounting in the preparation ol the financial stalements is apwopriate. Based on the Work we have perfomied. we have not klenlified any material nrtaInlS relating lo events or conditions that, individu311y or co1CtivelY, may cast svJnifi¢ant doubt on the company's Ahility In rnntinue as a going cortern for a period ol al leasl twelve months from the dale wn ihe financial statements a authorised for issue. Our responsibilities and the SponSibl11t1eS ofthe Iwslees wlh respect to going o)ncem are described in the relevant sections of this report. Other Information The other inlomiation coMpri- the information included in tha annual roport other ihan the financial ststemenk anrl our Audilorfs Report Ihereon. The trustees are responsible lorlhe other information contained within the annual report. Our opinion on the finanoal statement3 does not cover Ihe other infomatson and, exPt to the exient oth8noq$e explicrtly ststed in our report, we ¢Jo not exp$$ any fomi of assuran condusion Ihereon. Our respofBibilily is lo read the other infomialion and, in doing so, considervhjelhef the other infomalion is materially inconsistent wrtn the financlal siaiement5 01 our kno%edge (kJldiiieTJ i¢1 Ili¥ wurse of Ihe audit, or tsthermse appears to be materially misstated. Ifwe entify such material inconsislenoes or apparent material m1SStalements, we are required to determine whether this gives fise io a maierial missiaiemeni in the financial statets thettibelv¥b. If. basvd on the work we have performed. we condude that Ihele is a malerÈal misstatement of Ihis other inlormab"tsn, we are required to report that fact. We have nolhing 10 report In this regarij. Opinion on other matter prescribed by the Companies Act 2006 In our opinion, bascd on thc wort( undertaken in the ¢ourse of the audit." the inlomèlion given in the Trustees, Annual Report for the finawal yea¥ lorwhth the Iinanaal stalemenls are prepared is consislent ryth the finan¢iJl stalements., and the Trustees, Annual Report has trEen prepared in ac£ordance wth applicable le981 wuirements.
INDEPENDENT AUDITOR'S REPORT to the Members of Irish Elderly Advice Network IA company limited by 9uarantee. not having a Share capilall Matters on whlch we are required to teporl by exception In the light of our knowledge and under5taryJino of the u)mpany and ils environment obtained in the Course ol the audit. we have not identified malerial misstatements in the Trustees. Annual Report. We have nothing lo report in respect Of1 lollowng malters where the Companies Ad fequires us lo report lo you Il. in oiir opinion- adequate accounting COrdS have not been kept.. or th• financi21 statements are not in reement with thp. Armunting reu>rds and relums". or rtain disdosures of Iruslees, remuneratKTrn $ified by law are not made.. tho trustees wor• not entitled to prepare the financigl %txtnp_nl8 in 2ccordants with the small companies regime and lake advantage of small coMpans. exempb'on in preparing the Trustees. Annual Report. Responsibilities of trustees for the financial statements As explained more fully in the Statement of Twslees. RespL¥)sibililies set out on page 6, the trustees are responsib for ihe preparation of the financial 6tat8mgnt¥ and for bein9 Satisfied that Ihey gwe 8 trnjp fair vigw. and for such inlemal conlrol as they <Jetem)ine is necessary lo enable Ihe preparation of financial slatemenls that are free from material misstatement. whether due lo fraud or error. Iii VfVPrll"itry Ihe financial statements, the tru5tee8 are respongibk for asesn9 the company's abslity to continvè as going ¢oncern, disd05ing. as applicable, matters related to going concem aThJ usng the going concem basis of accounbng unless management either intends to IUKlate the a)mpany or lo (Ease operab'ons, or has no realists"c allernalive bul lo do so. Auditor's responsibilities for the audit of the financial st8tementq Our objectives are lo obtain reasonable assurance aboul Sthether the finanaal 51alements as a whole ale free from material mlssiaiemeni, whether due tD fidud vi viior. and to issu¢ aft Auditorfs Report that indudes our opinion. Reasonable assurance is a hKJh Ve1 of 8ssufan¢e. but is not a guafantee that an audit conducted in accordan wth ISAS IUKI will aayS deteci a material misslatemenl when rt exists. Misslatements catb arise from fraud or error and are considered material if. individually or in the aggregate, they could reasonably be expecled to innuence the economic decisions of users taken on the basis of Ihese hnamai staiements. Irregularity"es, including fraud, ate instances of non-c£Jmptianee wlh laws and rUlatIOns. We design proceuures In Ilne th our responsibilities, outlined above. lo delect material misslatentS in of irgU18r11ies, including fraud. The extent lo whith our procedures are Capab of deleciing iriegularilies, includ1ng fraud is delaiw beS0w". The procedures are capable of detecting misslalements in respect of irregularilies, including fraud. to a reasonable fevel nf a88iJrance. It is not guaranteed that the audit conducted in accordan wth ISAS IUKI will always delect a malefial misslalemenl wlkn it exists. Further information regarding the scope of our responsibilities as auditor As part ol an audit in accordan with ISAS IUKI. we exercise professional jLKJgemenl and maintain professional SptICIsM throughoul the audit. We also.. Identify and assess the risks of malerial misslalemenl of the financTral stslemenis. whether due ID fraud or erfor, design and perfom audit procedLires rppnn%ivp. lo thosè risks. and obtain audit evi(5ence that Is suffi¢ienl and appropriate to provide a basis for our opinion. The risk ol not delectitYJ a rnalerial rnisslalement resulting from fraud I higher th2n for one fesulting from error, as frswj may invdve (dlii*inn fnrgpry. intentional omissions. misrepreSentatns, or the overrxle of internal Control. Obtain an understanding of internal control televanl lo the audit in order to dln #iidit prrJcg.dures that are appropriate in the circumstances. bul not for the purpose of expfessing an opinion on the effectiveness of the C1PanY'S internal control. Evaluate the appropiialeness of accounb'ng polirAes u1 and the reasonableness of accounting e51imales and related disd05uiets Ill<aLle tjy truslees. Conclude on the appropriateness ol the Irustees, use ol Ihe going ts)nrn basis of accountin9 and. based on the audii evidence Obtalned, wheiher a mateiial urLEildirily vxisls related lo events or condiiions that may ca3t signilicanl doubl on Ihe company's ability to continue as a goiThJ conm.11 conclude that a material uncertainty exists, we a required io ijiawattention In our Auoitofs Repuil lu IIIE IEldlLYJ disdosures in ihe financial statements or, if such disclosu$ are inadequate, lo modify our opinion. Our ci)nthsions a based on the audit evidence obtained up lo the dale of our Auditorfs Report. Hover. fulvre events coThJii"ons may se Ihe Ihe company to cease to continue as a going con(tm_ Evaluate the overall presentation, slruclure a1 content of the Iinanc+al slatemenls. Induding the (Jisclosures, an(J whether the financial slalemenls represenl the undertying transacb.ons and events in a manner that achVeS lair presenlalion.
INDEPENDENT AUDITOR'S REPORT to the Members of Irish Elderly Advice Network IA company Ilmitad by guarant8e. not having a Sha Capitall Wp rmmiJnIcate with Ihose Charged with govemance regardirbg. amono olher matters. the planned scope and liming ol the audit and signifieanl audit findings. induding any significant deficiencies in inlemal (x)nlrol Ihal we identify during our a[lt The purpose of our audil work and to whom we owe our responslbllltles Thiq rp.pnrt i* m2dp. salply tn thp cc%npAny's mémbers. as a body. in acixirdanc£ with Chaptei 3 of Part 16 of the Companies Ad 2006. Our audit work ha5 been uThJerlaken so that we might stale to the iy)mpany's members thosè matters ar• required lo gtate to Ihem in an audito¢s .r)rt 2nrl fnr na nthei purpose. To the fullest exlenl pemilted by law. we do not aept or assume fesponsibilily to anyone other than Ihe company gnd the cornpany's members as a body. lor our audrt for Ihig report. or for thp opinirJn% wp. have lotmed. Evangelos Charalampous Isenior ststutory Auditor} for and on behalf of N7 Accountants Limited Central House 1 Ballards Lang N3 1LQ London 1911212024
Irish Elderly Advice Network IA company limited by guarantee, not havlng a share ¢apiiall NOTES TO THE FINANCIAL STATEMENTS for the finanaal year ended 31 March 2024 STATEMENT OF FINANCIAL ACTIVITIES Ilncorporaling an In¢ome and Expenditure Accounti lor the financial year ended 31 March 2024 Unrestri¢t@d Restricted Funds Funds TrJtAI UnstriCted Restricted Funds Funds Funds Total Fund$ 2024 2024 2024 2023 2023 2023 Notes Incoming Resources Volvntary Income Charitable activities - Grants from governments and other co-funders 83.543 63.543 121.028 121.026 239.130 239.130 4.900 217.906 222.805 Total incomlng resources 63.543 239.130 302.673 125.928 217.905 343.833 Resources Expnded Charitable activities 54.571 237,923 292,494 95.380 216,52S 311.905 Net incomingloutgoing resources before transfers 8.972 1,207 10.179 30.548 1.380 31,928 Gmss transfers betsyeen funds N•t mov•ment in funds for the financial year 8,972 1.207 10.179 30.548 1.380 31,928 Reconciliation of funds- Tvlal funds beginning of year 13 41.357 2.047 43.404 10.809 667 11_476 Tvtal luiids at the end of the 50,329 3,254 63.583 41,357 2,047 43,404 year I he biatemeni of Financial Aciivilles irKludes all gains diid I1)18ed in the financial year. All income and expenditure relate to continuing aclivits.
Irish Elderly Advice Network IA company Ilmited by guarantc¢, n•t haylng • ¢har• capltsll NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2024 Cornpany Number. 5642515 BALANCE SHEET as al 31 March 2024 2024 2023 Notss Currant Ass•ts Debtors Cash at bank and in h#nd 12 9.563 1$4.927 7.250 94.520 164A90 101.770 Cr•dltor8: Amounts falllng duo withln one year 13 1110.907) 158,366) Net Current Assets 53,SB3 43,404 Total A•1$ less Current Llabllitles 53.583 43,404 Funds Restricted trust funds 3.254 2,047 General fund lunrestricled) 50.329 41.357 Total funds 15 53.583 43,404 These financial statements have been prepaied in awjrdance the sral provisions relating lo small companies within Part 15 of the Companies Act 2006. Approved by the Board of Trust••s and authorlsed for Issuo on behalf by and slgned on its Tom Ivheeler Chairperson Flngl Marriolt TNstee
Irish Elderly Advice Network IA company Iunited by guarantee. not havin9 a Share capilall NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 Mard) 2024 GENERAL INFORMATION Irish El¢rty Adv¥ce Nets¥ork is a company limited by guarantee incorporated in the United lfjngdom. The registered office of the company is 50-52 CarFKlen SqLtillE. Lviiduii. NWI 9XB whith is also the prinopel pla ol busines5 01 Ihe company The finanual stalements have been presented in Pound (£1 which is also the funth.onal 1rrencY of the )PanY. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The folbwng accounting poliries have been applEd consislenlly in dealing with items which ale considered matérial in relat)n to thè thArity'8 finanual statements. Basis of prèparation The Iinancial statements have been prepared on the going cnnc£m basis the histor1 cost convention, modified to include certain items 6t 18ir valve. Thc finanual=tatements havè bè8n prgP3red in accoidanto with the Statement of Recommende(I Pra¢tict ISORPI "Accounting and Reporting by Charities preparing their accounts in accordan wth the Finanoal Reporting Standard applicab in the UK and Republic ol Ireland FRS 107.. As permitted by the Companies Act 2LK, the company has varied Ihe slandar(I fomais in that act lor the Slalement of Financial Activitses and the Balan Sheel. Departures from the stan¢Jard fomats are to comply with the reouirefnents of the Charities SORP and are in ctynpliance 1th section 4.7. 10.6 and 15.2 of that SORP. Statement of Compliance Thc financial statemenis ol tho ¢ompany lor the fin¥nL7sl year endpd 21 mA.h 24 have been PTepared on the going concem basis and in accordance with the Slalemenl of Recommended PraCts. ISORPI"Accounling aiid Reportin9 by CharitEs preparing their 8CcoUnt in accordanL% W7th the Finanry¥l Reportiro Standard applir2ble in the UK and Republic of IfelaThJ FRS 102" Cash flow statement The company has aVald of tIE exemption in FRS 102 from the reqUett lo produ a cash flow slalemenl because il is dassIfd as a small company. Fund 3ccountin The following are the caterIseS of funds maintsined.. Restricted funds Restrictéd Funds uJnl#in thp 9ranls received lo run Specif pl"e(ts for the LEnefils of the charity's main objectives and the assocxaled expenditure whth relate lo the project workers, wages and salaries and the project$ runnin9 C0315 lor thc bencfil of ohler persons who are Irish $ents in thè UK. Uwii¥>liiiled fuiids Unrestricted Funds are available for use al the discretion ol the Trustees in Itjrtrance of the general objectives of Ihe chanty ano whlch have not de5igiiiilwJ for other Pu05t5. They are for the promotion of any Charitable purposes for Ihe LEnefit ol okler pen$ laged 60 and ovefl vkno KJellts"fy themselves as Irish sidenls in Ihe UK. Incoming Resources Voluntary income or c3Pital i* indiKtp_d in Ihg Statement of Financial Activities when the company is legally enlilled lo il. its Iinanual value can be quantified wth reasonable rtaInty arKI there is reasonable certainly of its vltimatc receipt Entiilomonl lo legacies 1$ consklere¢l establishod when thp. rmmp2ny has been notilied of a distribution lo be made by the executors. Income recsved in advance of due perfofmance under a conlracl is accounted foi as (IEl¥iigU iriioiiie uiilil eaffted. Grants for aGb"vitie3 ate {eCogne as incomc when th& related conditions for legal enlillemenl have been mel. All other income is accA)unled foi on an accruals basis. Voluntary income is received by way of donaiions and gifts ano Is Induded in full in thE Sidl¥riYril ol Finan(Aal Activiles when received.
Irish Elderly Advice Network IA company lirniied by guarantse, noi havlng a shafo capitsll NOTES TO THE FINANCIAL STATEMENTS for the fin8neial year ended 31 ?4 Gifts donated for resale are induded akn7 income when they ara Èold. Oonalod assets are included at the v#liJg. the charity where Ihis can quantifie¢J and a thi(d party is bearing Ihe cost. The value of services provided by volunteer5 hds iiul ljeeri induded. Incxyne from inveslmenls is included in the year in whith il is re1v8. Incorne from charitsble activities Income from charitable acb'vities include income earned from Ihe supply of SerVeS er coniraaual arrangemenls and from perfomance related grants whth have condits.ons that specjfy Ihe provision of particular serVIS to be proviikd by ihe company. Income from government and other co-funders is re¢ognised when the company is legally entitled lo the incDme because il is fulfilliJvJ Ihe conditions contained in the related funding agreements. W)ere a grant Is red in advance, its cogn1.0n is deferred and ifiduded in credilois. Where entthm¢nt ¢)ccurs before in¢on is received. it is aecnJed in debtors. Grants from goverr¢ments and other ctrtund¢rs typically indude one ofthe followity3 types of conditions.. - Performan based condrtions" whereby the wrTyany is contractually entrtled to lundirYJ only to the extent that the ¢ore objectives of the grant agreement a athieved. W)ere the company is meeting the CO objectives of a grant ageme1)I. 11 COgnISeS Ine relaieij expen(Jituie. to ttrie ExlEiil Ilial il is reiinbursable by the donor. as income. -Time based conditions.. whe¥eby the company is contracitjally entild lo ftsnding on the condition that il is ulilised in a particular period. In these cases the conN)any recognises the Income tothe exteni li is uiilise(J wilhln the period specified in Ihe agetTnI. In the absenr2 nf8iirh rndlIn$. assumirvj that (elp¢ is probab and Ihe amount can be reliably measured, oranl incx)me is lenIsed On the MpanY is notifie(l of enlitlemenl. Grants received towards capital exnditure are credited lo the StatenI of Financial ActivitS when reiVed or receivable, hvhi¢hever is eerficr_ Resources Expended ReSoUS expended are reccMJnised in the yearin which they are incuNed. Fundraising costs are those incurred in seeking voluntary contnbutions a1 do not Induue the cosis of Oisseminating Inforrnation in 5uppuII uf ilie charitable activilies. Support cosls are those incurred directly in support of expenditufe on the objects ol the charity and incjude project managemenl Management and adminislralion costs are those incurred in rffjnnpction wth adminislratson of Ihe charrty and cthnpliance with cxjnslitutsonal aTrJ stalulory quIreMents. Trade & Othor Cfodttors Trade and other Creditors are initially recognised al lair value and thereafter slated al amortised cost using the ffvili¥e interest m¢thcKJ except where the effect of diounbng would be immaterial. In su¢h cases they #re slated al >$1. The charity has creditors. and are al aM0"sed cost. They indude: Accruals for audrt and a(xounling fees. Deferred qranl InMe (Govemmenl ol Ireland ESPI. Other Credilors Pgymll I_bilitY. Lea8ing Rentals payable under operaling leases a dealt with in the inc(¥ne and expenditure account as incurred over the pen$ ol the rent<il ilyIEtrlll¥iII. Trade and Other Debtors Trade and Other Debt0 are recognised al Ihe setllemenl amount due after any discount offered Prepayments are valued at the arnounl prepaid nel of any trade discounts due. Income recognise(J by the company from gnvprnmént agenaes and other co-lunders. but not yel re(xived al year end. is included in deblots. Debtors are initially iecognised at fair value and thereafter slated al amortised $1 using the effective Interest method less impairment lossos lor bad arKI doubfful debts p.Yrfv.rbt whp.r? Ihg effect ol discounting would be Immalerial. In such cases the receivables a stated at cost kss impairment losses for bad and doubtful debts.
Irish Elderly Advice Network IA company Ilmlted by guaranie¥. not havlng a share Capiiall NOTES TO THE FINANCIAL STATEMENTS for the finanaal year ended 31 March 2024 Cash at bank and in hand Cash al bank and In hand cKmprises cash in the bank only. The charty dosed the deposri actnI durin9 the finan(xal year. The charity holds one bank a(Kounl wth Natwest IGBI. The yearoThJ balances are: - Current ac¢ouni .' £154,644 Taxation No curienl or deferred laxatK>n arises as the ujnpany has been gwted chariiai)le exempuon. Irrecoverable valued added tax is exrEnsed as incurred. The charity is exempl from taxation under S505 Income and Corporation Taxes Act 1988. Grants receivable Grants, induding grants ft)r the purchase of fixed assets. are recognised in fvll in the Stslemenl of Financial Activit3 in the ycar in whith they a reived. All gr•nts feeeived are restricted 4$ is thp_ p.X.ndltlJrP associated with the grants. SIGNIFICANT ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY There are no sources of eslimalion UnrtaInty al the reporting dale. Ihat have a signifir2nt risk of causing a material adjustment lo Ihe carrying amounts of assets and liabilib'es wthin the next financial year. PROVISIONS AVAILABLE FOR AUDITS OF SMALL ENTITIES In common with many other chariiable companEs of our size and naiure, use our auditors lo asgsl wth the preparalion of thp finanrial qtxlp.mp.nt8 INCOME DONATIONS ANO LEGACIES Unrestricted Restricted Funds Funds 2024 2023 Sundry Donations 63.543 63.543 121.028 CHARITABLE ACTIVITIES unstrIcted ftestriclefj Funds Funds 2024 2023 Grants from govemments and Other co-fundern- Welfare Service 160.849 160,849 149,897 Cultural A¢¥tIeS 78.281 78,281 72,908 239,130 239,130 222,805 EXPENDITURE TOTAL RESOURCES EXPENDED Direct Other Support 2024 2023 Costs Costs Costs COSTS OF GENERATING FUNDS 13.110 4,540 17,650
Irish Elderly Advice Network IA company Ilmltsd by guarant88. not having a share capital) NOTES TO THE FINANCIAL STATEMENTS lor thp_ finanrial year eThled 31 Maich 2024 CHARITABLE ACTIVITIES Culluidl Aibvities Welfare SeNi 42.628 140,994 27.229 41)0 14.763 48.830 84,620 190,224 70.780 241,125 196.732 27.629 68,133 292.494 311.905 SUPPORT COSTS Charitable Activities 2024 2023 Insuran OutingslMeetingslEvenls 602 27,228 602 27.228 605 19.060 Legal & Professional IGoveManl 8.275 8.275 6,411 Communication and Advertising 1.394 1.394 19.252 Audit Fees IGovefflaneÉl 4.513 4.513 3,000 Genèral Offic£ 32,S97 32,597 21.619 Rènt and servi Charges 21.153 21,153 21,562 95,762 95,762 91,509 NET INCOMING RE30URces 2024 2023 Net Incomlng Resourc lire aftsr chatgin91{creditlf191: Operating lease rentals - offi equiFxYnI Audilorfs MUneratiOn.. audit servi$ 2,640 2,295 4.513 3,000 EMPLOYEESAND REMUNERATION Number of employees The average number of person5 employed linclLKJiThJ executive Irusleesl duriThJ the finanaal year was as follows". 2024 2023
Irish Elderly Advice Network IA company Ilmlted by guarnntee. not having a share capltsll NOTES TO THE FINANCIAL STATEMENTS for thg. fin2nrial ye8r Ènded 31 Marth 2024 Number Number Projea wonters and Admlntslratn Chief Executive OffIr The stall costs (xjmprise.. 2024 2023 Wdges anu saiarEs Soaal security Costs Pension costs 17S,152 11.629 6,713 176,068 10.868 6.024 Freelan Staff 3.238 20,615 196.732 211.S8S The key managemenl in the d)3rity is the CEO and a remuneration of £47,033 is assoaated wth this posl. EMPLOYEE DENEFITS There ale iiu eiiiplvyvvs received employee benefits exduding ernploy¢r pension ¢x*$tsl of mtsr• than £60,0001£70,0001 for the porting perio%1. 10. DEBTORS 2024 2023 Tiade fkbloi 3.580 Associated Projects 5.983 7,250 9.563 7.250 11. CREDITORS Amounts falling due within one yeaf 2024 2023 Taxation and social scujrity costs Other creditors 2.S47 10,382 1,942 10,893 Aru81S and deferd InMe 97,978 45,631 110,907 58,366
Irish Elderly Advice Network IA company Ilmlted by guarontee. not having a Share capitall NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2024 12. RESERVES 2024 2023 Al the beginning of the year 8iJrplusllDeficitl for Ihe finan(ial year 43.404 10.179 11,476 31,928 At the end ofthe vear 53,583 43,404 13. FUNDS 13.1 RECONCILIATION OF MOVEMENT IN FUNDS Unfe5tri¢tÈd Restricted Total Funds Funds Funds At I IKpril 2022 Movement during the finan¢ial year 10.809 30.548 667 1,380 11.476 31,928 At 31 Marel) 2023 41.3S7 2.047 43,404 Movement during the finanual year 8,972 1,207 10.179 Al 31 March 2024 50.329 3.254 53.583 13.2 ANALYSIS OF MOVEMENTS ON FUNDS Balance Income Expenditure Transfers Balance 1 Apnl betYlEVII 31 MarGh 2023 fund¥ 2024 Restricted funds Restricted Funds Unrestricted funds Unrestricted Funds 2,047 239.130 231.Y2J 3,254 41,357 63,543 54,571 50,329 Totsl ftjnds 43,404 302,673 292,494 53,583 13.3 ANALYSIS OF NET ASSETS BY FUND Current Current Total assets
Irish Elderly Advice Network IA company limited by yuarant88. not having a Sho capital) NOTES TO THE FINANCIAL STATEMENTS for the financ4al year ended 31 March 2024 Re$lr¢cted twst funds 92.063 {92.063) Unrestricted general funds 72,427 118.8441 53,583 164.490 1110.9071 53.S83 14. STATUS The company ts limited by guarantee noi having a Share cats1. The liats'lity of the limited. Every rnber of the company ulertakeS to contribute to U)e assels of Ihe c3)mpany in the event of its being wound up while Ihev are members or wthin one year thereafter for the payment ol the debts and liabilities of the company contracted before they aSed to be rrEmbers and the costs, charges expenses of wnding up and lorlhe adjustment ofthe nghts of the Contributo awwK)ng th1efveS such anKJunl as may be required, not exceeding £ l. 15. RELATED PARTY TRANSACTIONS There have been no transactions wrth trustees or related parties that require disclosure in the reporting period None olthe ttustee5 have beeii v<11 ariy tei1iuiration or ter£tYed any olhei benefrts frorn an employmcnt with the Charity or a related enlily No twslee exFnses have been incurred. 16. POST-BALANCE SHEET EVENTS The have been no sion1fnt events affecting the Charity Sin the finanoal year*nd. 17. DEFERRED INCOME GOVERNMENT OF IRELAND EMIGRANT SUPPORT PROGRAMME IESPI A grant of £163.000 Vfds re$ved for year from 1$1 July 2023 lo 30th June 2024. The fund5 were restricted fo¥ the follown9 profrects". Culture and Core Proje¢t £7S.000 and Welf2re Projeet £88,IX)O. Nine monins grani Income was utiliseo In Ihe pervxl to 315t March 2024. Just overthree monlhs grant inGL¥I)e amounting lo £44,500 has been deferred lo the 2024-25 yeai wll be ulilised by 30th June 2023. Three months grant income amounting lo £38.(3 deferred from 2022-23 has been utilised this year. Fundlng each year is conditional on wrillen conlimialson from the Irish Govemmenl ol IEANS core funding 18. GRANTS CITY BRIDGE TRUST The charity has been ow8rded a grant of £1 $0.000 over 5 years. charity received £31.800 linc inflation) this year lo contribute lo the salary cost ol the He of Cullure and assrKialed Offi Costs. Funding each year is condilionai on wriiien confimiation from the Irish GovemtrEnt of IEANs wie lutKJiii9. The charity CeiVed £31,800 in the a(Ount1[ penod vthsch has en fvlly recognised antj ulilised. HACKNEY CVS. The charity re(Eived a grant amounting to £1,470 from The City and Had(ney Publ Health Team Idislrilxjled and managed by Hackney Giving on its behaln The orant payment will be prosSed according lo the following schedule. £3.000 in 2021,. £5.0(M) in 20222, £2.000 in 2023. The granl is restricted lo the following specific project "Irish Elders Corona Communication". ThÈ charity reLpiverl an init121 rjaympnl of £1.470 which has been recognised and fully utslised during the accountsng period. Lottery- Cost ol LivirKJ Fund
Irish Elderly Advice Network IA company Ilmited by guarantee. not having a $har¥ ¢apltsll NOTES TO THE FINANCIAL STATEMENTS for the finanual year ended 31 March 2024 Tho charity has been awarded a grant off 75.fKffr Thp grant was awarded and received in amounts tolallinq £75.000 which £35.063 has l)een COgnised and uliliged in accounting period 2023-24. The balan of £39,937 wll bc in 2024-25. Thè grant was restred for. Cosl of Liviro Pro11 for oklgr Irish people. The charity ulilised £35, during the accounting perKKI.
IRISH ELDERLY ADVICE NETWORK {A company lonled by 9uar•nt¢8. not havlng a sharè capltall SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024 NOT COVERED BY THE REPORT OF THE AUDITORS
Irish Elderly Advice Network IA company Ilmited by guarantee. not havlng a share ¢apltall SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS Operating Slalemenl lor the finanaal year ended 31 March 2024 2024 2023 Incorne Donations Other Income Governmeni of Ireland Emigrani Support Projramme {ESP) ESB Dublin City Bridge Trust Had(ney Giving Other Grants Lottery- Communrty Fund (Cost of LiviTrJ) Mind in the City Hathiiey CVS 36.797 16.746 156.563 10.000 31.800 121,028 4,900 150,437 26,658 7.560 17,250 14,234 35.063 16,000 2,000 1.470 302.673 343,833 Expenses Wages and salaries Social security costs Staff defined contribution pension costs Freelance Cost8 Rent payable Utilitie5 ILighl & Heal) Insuran Leasing ol offi(t equtrpmenl Public Relations and Communicalton Printing. postage and Sta.0nery Telephonp OulingslMeetingslEvenls Lal and prtslessiorsal Accountancy arKI Payioll Agency Costs Audiior's/lndepenOeni Examiners remunerauon Bank charges SubsGiiplic>ns Charitable donations 175.152 11.629 6,713 3.238 21.129 3,849 602 2.640 1,394 12,578 176,058 10.868 6,024 20,61S 21.562 605 2,295 17.617 7.042 3.170 28,095 3.301 3,110 3,000 351 1,361 6.831 27.228 S.S73 2.702 4.513 3S5 $40 9.760 292.494 311,905 Net surp5usl{deficitl 10.179 31,928 Th• suppl¥m¢ntary infortTr¥tion dogs not form part of th• audit finanoal stalements