DocuSign Envelope ID: 5E1F80C7-C56A-4B03-9421-EEF6D6179770
Charity Registration No: 1122954 Company Registration No: 06144912 (England & Wales)
AGE WESSEX
(formerly Age Concern Southampton)
OPERATING AS AGE UK SOUTHAMPTON
Annual Report & Unaudited Financial Statements
for the year ended 31 March 2022
DocuSign Envelope ID: 5E1F80C7-C56A-4B03-9421-EEF6D6179770
AGE WESSEX (formerly Age Concern Southampton) OPERATING AS AGE UK SOUTHAMPTON CONTENTS
| Page | |
|---|---|
| Legal & Administrative Information | 2 |
| Trustees Annual Report(including Directors Report) | 3 – 11 |
| Independent Examiners Report | 12 |
| Statement of Financial Activities | 13 |
| Balance Sheet | 14 |
| Notes to the Accounts | 15 - 24 |
Page 1
DocuSign Envelope ID: 5E1F80C7-C56A-4B03-9421-EEF6D6179770
AGE WESSEX (formerly Age Concern Southampton) OPERATING AS AGE UK SOUTHAMPTON LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | Nicola Gurd | |
|---|---|---|
| David Paynton | ||
| Jacqueline Powell | ||
| Fiona Price | ||
| Philip Sampson | (resigned 24 November 2021) | |
| Ronald Staker | ||
| Peter Stewart | ||
| Jackie Wells | ||
| Chair of trustees | Ronald Staker | |
| Vice-Chair of trustees | Jackie Wells | (appointed Vice-Chair 29 July 2021) |
| Chief officer | Peter Bennie | |
| Secretary | Peter Stewart | |
| Treasurer | Nicola Gurd | |
| Charity number | 1122954 | |
| Company number | 06144912 | |
| Principal address | Freemantle & Shirley Community Centre | |
| Randolph Street | ||
| Southampton | ||
| SO15 3HE | ||
| Registered office | Freemantle & Shirley Community Centre | |
| Randolph Street | ||
| Southampton | ||
| SO15 3HE | ||
| Independent examiner | Fiander Tovell Limited | |
| Stag Gates House | ||
| 63/64 The Avenue | ||
| Southampton | ||
| SO17 1XS | ||
| Bankers | National Westminster Bank plc | |
| 43-49 London Road | ||
| Southampton | ||
| SO15 2AD | ||
| Solicitors | Paris Smith LLP | |
| Number 1 London Road | ||
| Southampton | ||
| SO15 2AE |
Page 2
DocuSign Envelope ID: 5E1F80C7-C56A-4B03-9421-EEF6D6179770
AGE WESSEX (formerly Age Concern Southampton) OPERATING AS AGE UK SOUTHAMPTON TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2022
The Trustees present their report and financial statements for the year ended 31 March 2022.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charitable company's Memorandum and Articles of Association, the Companies Act 2006, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102), and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (published in October 2019).
Objectives and activities
Principal objectives
Age Wessex, operating mainly in Southampton under the name Age UK Southampton, exists for the purpose of supporting older people in Southampton, Hampshire, Isle of Wight and surrounding areas.
In going about our work and establishing our aims and objectives, the Trustees have given careful consideration to the Charity Commission's guidance on public benefit. We work in partnership and collaboration with other local charities, voluntary bodies, statutory authorities and organisations in providing education and assisting older people in need by reason of ill-health, disability, financial hardship, social exclusion or other disadvantage.
We are an independent local charity that has been working to improve the lives of Southampton's older people for 60 years. Our 10 staff and 90 volunteers run a wide range of activities to support the wellbeing of our city's older citizens and to help them stay connected to normal daily activities.
The charitable company's principal aims are:
-
To provide support and services for older people and those who care for them in and around Southampton.
-
To reduce isolation, poverty and inequality.
-
To promote positive ageing and independence by supporting active and healthy lifestyles.
-
To inform local older people and those who care for them of their rights and choices.
Principal activities
-
A home visiting service for those who are lonely, isolated or housebound.
-
Information & Advice on a wide range of issues affecting older people, including welfare benefits, finance, pensions and social care.
-
A wellbeing service to assess needs and help older people find and access the support that they need.
-
Delivering and modernising provision of Day Care for the physically and mentally frail at our dedicated centre at Padwell Road.
-
A digital support pilot for NHS patients with Chronic obstructive pulmonary disease (COPD).
-
A range of social connections services to support people to link with friends and family (friendship, knitting and computer groups, including a tablet loan scheme).
Home Visiting and Wellbeing are funded entirely by charitable sources. Day Care and Information & Advice (I&A) services are supported by contracts from statutory authorities until March 2023. Within the range of I&A services, Welfare Benefits work, which focuses in the relief of poverty, was also supported by the Age AUK Warm Homes contract, and donations from Southampton Charitable Trust and Peter’s Trust.
Measures to recover our services from the impacts of the coronavirus pandemic were supported by Independent Age and Southampton City Council Infection Control Fund.
Page 3
DocuSign Envelope ID: 5E1F80C7-C56A-4B03-9421-EEF6D6179770
AGE WESSEX (formerly Age Concern Southampton) OPERATING AS AGE UK SOUTHAMPTON TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (continued) FOR THE YEAR ENDED 31 MARCH 2022
The NHS digital support pilot is funded by Southampton Hospitals Charity and Public Health Southampton (Contain Outbreak Management Fund [COMF]). Broader digital work is supported by Hampshire and Isle of Wight Community Foundation Recovery Fund and Vodafone.
During the year, with support from the University of Southampton, we were able to run a pilot footcare service, which will be valuable in developing a sustainable model going forward.
Finally, the volunteering service continues to be funded through a grant from Southampton Rotary Elderly Citizens Trust, with further support from the statutory authority Day Care contract.
YEAR-END REVIEW OF 2021-2022
The framework for the 2021-22 Business Plan was the Strategic Review and Strategy 2019-2022. The emphasis of the plan is on four broad goals, namely to:
-
Build scale.
-
Ensure that the charity remains a going concern.
-
Maintain the quality of delivery to clients.
-
Support and nurture the team, management and volunteers.
Build scale
-
A revised articles of association and a change of registered name have been approved by Companies House and the Charity Commission;
-
Significant progress has been made on merger and collaboration activity, with an improved relationship and better quality dialogue with other local Age charities;
-
Links with UoS have been strengthened through the footcare and research projects;
-
Links with three local NHS Trusts (UHS, Solent, Southern Health) have been strengthened through implementation of a new Digital Inclusion project supporting COPD patients;
-
Improved links and funding support have been established with Public Health Southampton;
-
• A full year of support from Aura Technology, combined with further hardware purchases made possible through new funding, has significantly strengthened the quality, security, useability, compliance and performance of our IT systems. A proactive approach has been adopted to systems and data security through monthly reviews, planned updates and fault monitoring.
-
The charity continues to benefit from the flexibility offered by a cloud data system, and the controlled sharing of cloud resources with specific internal and external users. The Board have agreed to a move to paperless systems across the organisation, which SMT plan to commence in Q2 2022-23.
Page 4
DocuSign Envelope ID: 5E1F80C7-C56A-4B03-9421-EEF6D6179770
AGE WESSEX (formerly Age Concern Southampton) OPERATING AS AGE UK SOUTHAMPTON TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (continued) FOR THE YEAR ENDED 31 MARCH 2022
Ensure that the charity remains a going concern
-
There has been reasonable success with new income generation, grants and fundraising totalling £155,717;
-
Contract income remained broadly similar to the previous year at £148,700 compared with £153,700 (2020-21);
-
The Senior Management Team continued to control unnecessary overhead expenditure;
-
The outstanding issue with the Age UK pension scheme has been resolved;
-
The benefits of engaging Beeston Clarke Accountants (BCA) have been evident over a full fiscal year of support in terms of quality and timeliness of bookkeeping and day-to-day accounts work as well as the production of timely and comprehensive management accounts for the Board. Regular reviews with BCA contribute to improved accuracy of management accounts.
-
Further efficiencies have been made through the move to a fully paperless accounts data system and the switch to Xero accounting software; work has commenced on systematic electronic archiving of earlier years’ accounting records.
-
The continued engagement of local volunteers continued to provide invaluable support to the organisation and the senior management team.
Maintain the quality of delivery to clients
-
Despite severe pressures on all frontline personnel, AUKS continues to hold accreditations and uphold high standards in both IAQP and CQS, the latter having been awarded a one-year extension to February 2023 following a demanding self-assessment;
-
We continue to deliver Information & Advice (I&A) and day-care services as per contract, subject to limitations imposed as a result of the pandemic. Demand for I&A grew steadily over the year, with the final quarter experiencing two of the busiest months since the start of the pandemic. The day-care service has been very challenging to manage with varying Public Health limitations and two significant periods of lockdown closure of the hubs;
-
Infections controls have been maintained at a high standard, which is testimony to the diligence of service management and front-line staff;
-
Our I&A outreach commenced and continues to be effective in reaching some new areas of Southampton and more diverse communities;
-
The continuing impact of the pandemic has limited our ability to develop our paid-for services.
-
Private day-care income continued to suffer generating just £14,060 (2021: £nil) compared with £102,909 in 2019-20 (pre-pandemic);
-
A footcare pilot, run in partnership with University of Southampton, proved a valuable learning experience of the mutual benefits of working with the university, the costing of a service, and the very real gaps in meeting the needs of the older population. This will enable us potentially to develop an affordable foot care service which can meet those needs.
Page 5
DocuSign Envelope ID: 5E1F80C7-C56A-4B03-9421-EEF6D6179770
AGE WESSEX (formerly Age Concern Southampton) OPERATING AS AGE UK SOUTHAMPTON TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (continued) FOR THE YEAR ENDED 31 MARCH 2022
Support and nurture the team, management and volunteers
-
We have continued to support our people at all levels through this difficult time with regular team support sessions, 1:1s and improved volunteer communications.
-
A new approach has been introduced for annual appraisals as a further tool to support, develop and recognise achievements, especially in a challenging environment;
-
Our board has conducted its skills and experience analysis and has considered its training and succession-planning needs. Equality, Diversity and Inclusion (EDI) emerged as a priority issue and training need for 2022-23.
SUMMARY OF SERVICES DELIVERED DURING THE YEAR .
During the year, Age UK Southampton supported 5900 individuals (up on 4900 last year) in the following ways:
Food Parcels for the most vulnerable Distributed to 256 older people Client Wellbeing Calls by Staff 996 calls made to 349 older people Wellbeing Calls to Clients by Volunteers 2030 calls made to 477 older people Information & Advice Supported older people by responding to 2098 requests for help
Day Care Delivered 810 day-care sessions (of which 231 were privately funded) despite the centre being required to close for almost 5 months. Social connections groups Supported 528 attendees Digital Inclusion groups Supported 167 attendees Footcare Delivered 74 sessions (new service from February) Welfare Benefits Delivered 100 Welfare Benefits entitlement checks.
In addition, our staff made 153 wellbeing support calls to our Volunteers to ensure that they were adequately supported during this recovery period.
Page 6
DocuSign Envelope ID: 5E1F80C7-C56A-4B03-9421-EEF6D6179770
AGE WESSEX (formerly Age Concern Southampton) OPERATING AS AGE UK SOUTHAMPTON TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (continued) FOR THE YEAR ENDED 31 MARCH 2022
In comparison to the previous year, the pandemic continued to depress client numbers up to September, but from October onwards, our service recovery efforts were rewarded with a month-onmonth increase:
----- Start of picture text -----
Older people supported
700
600
500
400
300
200
100
0
Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar
2020-21 2021-22
----- End of picture text -----
We delivered 10,312 client support sessions over the year, ranging from a low point of 600 in June, to almost 1200 in March 2022:
No. of interventions
----- Start of picture text -----
1600
1400
1200
1000
800
600
400
200
0
Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar
2020-21 2021-22
----- End of picture text -----
Page 7
DocuSign Envelope ID: 5E1F80C7-C56A-4B03-9421-EEF6D6179770
AGE WESSEX (formerly Age Concern Southampton)
OPERATING AS AGE UK SOUTHAMPTON TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (continued) FOR THE YEAR ENDED 31 MARCH 2022
OUR VOLUNTEERS
Many of our volunteers continued to be anxious about their own health, and trying to maintain capacity proved very challenging. We are hugely grateful to those who remained with us, providing vital support to Southampton’s older people, and also to those who joined us as new volunteers over the course of the year.
In total, our volunteers donated 4,330 hours to support the work of our charity, with covid risks clearly impacting on social groups and home visiting:
----- Start of picture text -----
AUKS Volunteer Support Summary (hours)
Trustees - Operational Support
Trustees - Governance
Admin, Finance & HR
Social Groups
Digital Inclusion
Visiting/Befriending
Navigation & Assessment
Information & Advice
0 200 400 600 800 1000
----- End of picture text -----
We averaged 88 volunteers across the year, despite 39 withdrawing, many for health-related reasons, but had to work hard to recruit new volunteers in order to keep vital services running.
Volunteers lie at the heart of all we do and provide the majority of our services. For example, in the Visiting Service, over 90% of the people resources devoted to the service are provided by volunteers.
Our charity, and thus our clients, benefitted from the support of an average of 88 active volunteers each month (113 in 2020-21), donating at least 4,330 hours over the year despite the ongoing anxieties related to the covid-19 pandemic; based on the National Minimum Living Wage, this represents a contribution of £41,135.
We are deeply grateful to all the volunteers who continued to switch and adapt their roles to meet the needs of older people, and in particular to those who have undertaken face-to-face activities, such as food parcels, to support those vulnerable older people who have been so desperate for help and companionship.
Page 8
DocuSign Envelope ID: 5E1F80C7-C56A-4B03-9421-EEF6D6179770
AGE WESSEX (formerly Age Concern Southampton) OPERATING AS AGE UK SOUTHAMPTON TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (continued) FOR THE YEAR ENDED 31 MARCH 2022
Stakeholders
Like all charities, we are operating in a rapidly changing environment, presenting us with both challenges and opportunities. Particular factors that affect us include significant pressures on local authority budgets, the increasing needs of Southampton's ageing population and the ongoing support needs generated by the covid-19 pandemic. We have maintained our close, supportive relationships with Southampton City Council, NHS Hampshire, Southampton and Isle of Wight Clinical Commissioning Group, local NHS services and the city’s wider voluntary sector to promote an integrated, person-centred approach to older people's needs, capitalising on our ability to recruit and deploy volunteers to provide sustainable support.
Financial review
The charitable company's income totalled £300,012. This represents a reduction of £29,200 on the prior year, due mainly to slow recovery of our day-care centre income.
The charity generated a small surplus in the year of £651. In the previous year, we reported a surplus of £34,584 owing to the retention of unrestricted Covid-19 grants that were designated to be used to further recover our services in 2021-22. Through a reduction in overheads (premises, IT and infection control measures), along with new grants for service recovery and digital inclusion, we have avoided a significant deficit.
Our staffing costs continue at a minimal level, with an overhead budget sufficient to cover only the bare essentials. The Trustees recognise, however, that operating at such a minimal level of resource not only compromises the Charity’s capacity to grow income and hence services to respond to increasing demand from Southampton’s older population, but increases pressure on staff, and makes the organisation vulnerable to a further significant reduction in income or other crisis.
We recognise that this vulnerability is due mainly to the small scale of the current operation and is best addressed by meaningful collaboration/merger with another organisation with a stronger cash flow and greater management resource. Addressing this vulnerability continues to be a priority for the organisation, and as we further recover from the pandemic, we will be attaching a higher priority on ‘joining up’ with other organisations in our network of Age UKs and Age Concerns. By doing so, we hope to deliver an appropriate solution for sustaining Older People’s services and deploying a greater proportion of the organisation’s resources into frontline services.
As at the year ending 31 March 2022, the Charity had unrestricted reserves of £145,276 – a decrease on the previous year’s balance of £166,800. The Trustees' policy is to maintain minimum unrestricted reserves sufficient to allow the orderly restructuring of the charity. At 31 March 2022 this amount was £74,000, and is reviewed bi-monthly.
Given the uncertainty in the economic environment and the limited funds available for investment, the Trustees have decided that reserves should only be placed in short term deposits.
In order to ensure that the charity remains a going concern, the trustees have initiated a significant restructuring of its operations, involving the loss of several staff and reduction of services to its beneficiaries. Cashflow forecasts indicate that, following the restructuring, the charity will have sufficient funds to meet its operating expenses on the basis of contracted income streams which are likely to extend into 2025. The charity will maximise all opportunities to grow non-contracted day care services, apply for core services grant funding and seek opportunities to fund paid for services such as footcare.
Page 9
DocuSign Envelope ID: 5E1F80C7-C56A-4B03-9421-EEF6D6179770
AGE WESSEX (formerly Age Concern Southampton) OPERATING AS AGE UK SOUTHAMPTON TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (continued) FOR THE YEAR ENDED 31 MARCH 2022
Structure, governance and management
The charity is a company limited by guarantee incorporated on 7 March 2007 and governed by its Articles of Association.
It was registered as a charity under the Charities Act 2011 on 26th February 2008.
The Trustees, who are also the directors for the purpose of company law, and who served during the year were:
Nicola Gurd (Treasurer) David Paynton Jacqueline Powell Fiona Price Philip Sampson (resigned 24 November 2021) Ronald Staker (Chair) Peter Stewart Jackie Wells (Vice Chair)
Trustees are either appointed directly by the members or co-opted by the Board and confirmed at the Annual General Meeting. Trustees serve for three years initially, after which period they may put themselves forward for re-appointment. New Trustees are recruited through suitable agencies and local organisations with the aim of reaching a wide range and diversity of candidates and providing the Board with a wide range of relevant skills, knowledge and expertise. Induction training emphasises roles and responsibilities, making use of Charity Commission publications, together with an introduction to the structure of the organisation and the activities in which it is engaged.
The Board of Trustees are responsible for making strategic and policy decisions. The operational and day-to-day decisions are made by the Chief Officer.
During the year, the Charity received 2 formal complaints, neither of which were reportable to the Charity Commission. Both were dealt with following the Charity’s complaints procedure and were resolved in a satisfactory manner.
The Trustees gratefully acknowledge support received from various organisations including our Independent Examiner, Fiander Tovell, Beeston-Clarke Accounting, Aura Technology and our solicitors, Paris Smith LLP. We therefore offer them our sincere thanks, as well as all the individuals and organisations who have supported or funded our services including:
-
Age UK
-
All individual and corporate donors
-
Citizens Advice Southampton
-
Freemantle and Shirley Community Association
-
Hampshire Constabulary
-
Hampshire and Isle of Wight Community Foundation
-
Independent Age
-
NHS Charities Together
-
NHS Hampshire, Southampton and Isle of Wight Clinical Commissioning Group
-
Public Health Southampton
-
Social Care in Action
-
Southampton City Council
-
Southampton Charitable Trust
-
Southampton Elderly Citizens Trust/Southampton Rotary Club
-
Southampton Hospitals Charity
-
The National Lottery
Page 10
DocuSign Envelope ID: 5E1F80C7-C56A-4B03-9421-EEF6D6179770
AGE WESSEX (formerly Age Concern Southampton) OPERATING AS AGE UK SOUTHAMPTON TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (continued) FOR THE YEAR ENDED 31 MARCH 2022
This report has been prepared in accordance with the special provision relating to small companies within Part 15 of the Companies Act 2006.
Trustees have contributed significantly as volunteers, providing valuable support to the Senior Management Team. Their contribution is gratefully acknowledged and invaluable to the operation of the charity.
The Trustees' report was approved by the Board of Trustees.
.............................. Ronald Staker
Chair of the Board of Trustees
7/12/2022 | 11:57 GMT Dated: .........................
Page 11
DocuSign Envelope ID: 5E1F80C7-C56A-4B03-9421-EEF6D6179770
AGE WESSEX (formerly Age Concern Southampton)
OPERATING AS AGE UK SOUTHAMPTON INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
I report to the Trustees on my examination of the financial statements of Age Wessex (formerly Age Concern Southampton) (the charitable company) for the year ended 31 March 2022, which are set out on pages 13 to 24.
Respective responsibilities of trustees and examiner
As the charity trustees of the charitable company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the financial statements of the charitable company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charitable company's financial statements as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Direction given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the charitable company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of those listed bodies.
I have completed by examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the charitable company as required by
-
(i) section 386 of the 2006 Act; or
-
(ii) the financial statements do not accord with those records; or
-
the financial statements do not comply with the accounting requirements of section 396 of
-
(iii) the 2006 Act other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination; or
-
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by
-
(iv) charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Andrew Jay ACA, FCCA
For and on behalf of: Fiander Tovell Limited Stag Gates House 63/64 The Avenue Southampton Hampshire SO17 1XS Dated:
Page 12
DocuSign Envelope ID: 5E1F80C7-C56A-4B03-9421-EEF6D6179770
AGE WESSEX (formerly Age Concern Southampton)
OPERATING AS AGE UK SOUTHAMPTON
STATEMENT OF FINANCIAL ACTIVITIES (including Income & Expenditure Account) FOR THE YEAR ENDED 31 MARCH 2022
| Notes Income and endowments from: Donations & legacies 3 Charitable Activities 4 Other trading activities 5 Investments 6 Other income 7 Total income Expenditure: Raising funds 8 Charitable Activities 9 Total resouces expended Net incoming/(outgoing) resources before transfers Transfers between funds Net income/(expenditure) for the year / net movement in funds Fund balances at 1 April 2021 Fund balances at 31 March 2022 |
Unrestricted funds Restricted funds Total Unrestricted funds Restricted funds Total 2022 2022 2022 2021 2021 2021 £ £ £ £ £ £ 8,419 - 8,419 7,747 - 7,747 171,095 115,835 286,930 206,798 94,346 301,144 2,650 1,369 4,019 1,412 (392) 1,020 113 - 113 279 - 279 531 - 531 19,022 - 19,022 182,808 117,204 300,012 235,258 93,954 329,212 168 - 168 9,954 - 9,954 204,164 95,029 299,193 190,328 94,346 284,674 204,332 95,029 299,361 200,282 94,346 294,628 (21,524) 22,175 651 34,976 (392) 34,584 - - - - - - (21,524) 22,175 651 34,976 (392) 34,584 166,800 2,832 169,632 131,824 3,224 135,048 145,276 25,007 170,283 166,800 2,832 169,632 |
|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derives from continuing activities.
The statement of financial activities also complies with the requirement for an income and expenditure account under the Companies Act 2006.
Page 13
DocuSign Envelope ID: 5E1F80C7-C56A-4B03-9421-EEF6D6179770
AGE WESSEX (formerly Age Concern Southampton) OPERATING AS AGE UK SOUTHAMPTON
BALANCE SHEET AS AT 31 MARCH 2022
| Notes Fixed assets Tangible fixed assets 13 Current assets Debtors 14 Cash at bank and in hand Creditors: amounts falling due within 1 year 15 Net current assets Total assets less current liabilities Funds Restricted funds 17 Unrestricted funds |
£ £ £ £ 2,714 243 71,902 47,485 135,218 169,437 207,120 216,922 39,551 47,533 167,569 169,389 170,283 169,632 25,007 2,832 145,276 166,800 170,283 169,632 2022 2021 |
£ £ £ £ 2,714 243 71,902 47,485 135,218 169,437 207,120 216,922 39,551 47,533 167,569 169,389 170,283 169,632 25,007 2,832 145,276 166,800 170,283 169,632 2022 2021 |
|---|---|---|
| 71,902 135,218 |
243 169,389 |
|
| 207,120 39,551 |
||
| 169,632 | ||
| 2,832 166,800 |
||
| 169,632 |
The charitable company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2022. No member of the charitable company has deposited a notice, pursuant to section 476, requiring and audit of those accounts.
The Trustees acknowledge their responsibility for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
7/12/2022 | 11:57 GMT
The accounts were approved by the Board of Trustees on …............................
….............................................................................
Ronald Staker Chair of Trustees
Company Number 06144912
Page 14
DocuSign Envelope ID: 5E1F80C7-C56A-4B03-9421-EEF6D6179770
AGE WESSEX (formerly Age Concern Southampton)
OPERATING AS AGE UK SOUTHAMPTON
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022
1 Accounting policies
Charity information
Age Wessex (formerly Age Concern Southampton) is a charitable company limited by guarantee, incorporated in England and Wales. The registered office is Freemantle & Shirley Community Centre, Randolph Street, Southampton, Hampshire, SO15 3HE.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charitable company's memorandum and articles of association, the Companies Act 2006, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102), Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, UK Generally Accepted Accounting Practice and applicable charity and company law. The charitable company is a Public Benefit Entity as defined by FRS102. The charitable company has taken advantage of the provisions in the SORP for charities applying FRS102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the Trustees have reviewed the going concern of the charity and have begun a significant restructuring of its operations that will be complete by February 2023. The Trustees now have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the accounts.
Transfers are made between funds when adequate justification and supporting evidence is provided.
1.4 Incoming resources
Grants are accounted for on an accruals basis and allocated between funds according to the basis of the grant being provided. Grant income is recognised when the charity is entitled to it after performance conditions have been met, the amounts can be measured reliably and it is probable that the income will be received. Where the charitable company is required to repay any part of the grant a provision is made for the amount due to be repaid.
Grants from local authorities and similar organisations have been included as contracts for services where applicable but as donations where the money is given with greater freedom of use.
Donations and legacies receivable are accounted for where there is entitlement, sufficient certainty of receipt and the amount can be measured reliably. In the case of unsolicited donations this is usually only when received. All other income is accounted for under the accruals concept. No amounts are included in the financial statements for services donated by volunteers. Donated capital items are included withing the financial statements at their current value at the time of donation. Trading income is receivable on a profit share basis. Income received for future periods is deferred until those periods.
Page 15
DocuSign Envelope ID: 5E1F80C7-C56A-4B03-9421-EEF6D6179770
AGE WESSEX (formerly Age Concern Southampton)
OPERATING AS AGE UK SOUTHAMPTON
NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 MARCH 2022
1 Accounting policies (continued)
1.5 Resources expended
All expenses are accounted for on an accruals basis. Expenditure incurred in connection with the specific objects of the charitable company is included under the heading of direct charitable expenditure, overheads are allocated to activities in proportion to their use of facilities. The irrecoverable element of VAT is included with the item of expense to which it relates.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Tangible fixed assets costing £1,000 or more are capitalised and are stated at cost less depreciation. Donated assets are included at their current value at the time of donation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Computer equipment 3 years straight line Equipment and furniture 4 years straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
1.7 Impairment of fixed assets
At each reporting end date, the charitable company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9 Financial instruments
The charitable company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments.
Financial instruments are recognised in the charitable company's balance sheet when the charitable 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 amorised 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.
Page 16
DocuSign Envelope ID: 5E1F80C7-C56A-4B03-9421-EEF6D6179770
AGE WESSEX (formerly Age Concern Southampton)
OPERATING AS AGE UK SOUTHAMPTON
NOTES TO THE ACCOUNTS (continued)
FOR THE YEAR ENDED 31 MARCH 2022
1 Accounting policies (continued)
1.9 Financial instruments (continued)
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
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 charitable company's contractual obligations expire or are discharged or cancelled.
1.10 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the charitable company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.11 Retirement benefits
The charitable company operated a defined contribution scheme under auto-enrolment. Contributions payable are charged to the statement of financial activities in the year in which they are payable.
1.12 Leases
Rentals payable under operating leases, including lease incentives received, are charged as an expense on a straight line basis over the term of the relevant lease.
1.13 Creditors and provisions
Creditors and provisions are recognised where the charitable company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement value.
1.14 Debtors
Debtors are recognised at the settlement amount due.
2 Critical accounting estimates and judgements
In the application of the charitable company´s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Page 17
DocuSign Envelope ID: 5E1F80C7-C56A-4B03-9421-EEF6D6179770
AGE WESSEX (formerly Age Concern Southampton)
OPERATING AS AGE UK SOUTHAMPTON
NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 MARCH 2022
| Covid19 grants Restricted Analysis by fund: Unrestricted Restricted For the year ended 31 March 2021 Unrestricted Donations and legacies Donations and gifts Legacies receivable For the year ended 31 March 2021 Charitable activities Southampton Living Well/Day Care Unrestricted grants from Age UK For the year ended 31 March 2021 Age UK Warm Homes Advice, Information & Guidance Health & Wellbeing Inclusive Digital Transformation Volunteering Service |
Unrestricted funds Restricted funds Total Total 2022 2022 2022 2021 £ £ £ £ |
Unrestricted funds Restricted funds Total Total 2022 2022 2022 2021 £ £ £ £ |
|---|---|---|
| 8,814 - 8,814 4,540 (395) - (395) 3,207 |
||
| 8,419 - 8,419 |
7,747 | |
| 7,747 - Grants Fees Total 2022 2022 2022 £ £ £ |
7,747 Total 2021 £ |
|
| 107,162 14,058 121,220 28,875 - 28,875 10,230 - 10,230 37,394 - 37,394 600 - 600 15,017 - 15,017 60,594 - 60,594 13,000 - 13,000 |
121,644 29,175 3,162 - - 17,721 111,442 18,000 |
|
| 272,872 14,058 286,930 |
301,144 | |
| 301,144 - 157,037 14,058 171,095 115,835 - 115,835 |
301,144 206,798 94,346 |
|
| 272,872 14,058 286,930 |
||
| 206,798 - 94,346 - 301,144 - |
||
| 301,144 |
3 Donations and legacies
4 Charitable activities
The above income includes government grants of £168,431 (2021: £150,519) in relation to service level agreements and specific government funded projects, and £23,419 (2021: £21,735) specifically in relation to Covid-19 support.
| 5 Other trading activities Fundraising income For the year ended 31 March 2021 |
Unrestricted funds Restricted funds Total Total 2022 2022 2022 2021 £ £ £ £ |
|---|---|
| 2,650 1,369 4,019 1,020 |
|
| 1,412 (392) 1,020 |
Page 18
DocuSign Envelope ID: 5E1F80C7-C56A-4B03-9421-EEF6D6179770
AGE WESSEX (formerly Age Concern Southampton)
OPERATING AS AGE UK SOUTHAMPTON
NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 MARCH 2022
6 Investments
| Investments Investment income Other income Other income Coronavirus Job Retention Scheme Grant All investment income for the current and prior year was unrestricted. |
2022 2021 £ £ 113 279 |
| 2022 2021 £ £ 531 6,331 - 12,691 |
|
| 531 19,022 |
7 Other income
All other income for the current and prior year was unrestricted.
| Cost of raising funds Fundraising costs Support costs Charitable activity expenditure Fees for services Travel costs Activity costs Sundry costs Bad debts Share of support costs (see note 10) Share of governance costs (see note 10) For the year ended 31 March 2021 For the year ended 31 March 2021 |
Unrestricted funds Restricted funds Total Total 2022 2022 2022 2021 £ £ £ £ |
|---|---|
| 168 - 168 81 - - - 9,873 |
|
| 168 - 168 9,954 |
|
| 9,954 - 9,954 Unrestricted funds Restricted funds Total Total 2022 2022 2022 2021 £ £ £ £ |
|
| 16,123 - 16,123 - 3,873 21 3,894 1,451 1,569 926 2,495 - 35 - 35 - - - - 5,451 |
|
| 21,600 947 22,547 6,902 |
|
| 172,621 94,082 266,703 272,762 9,943 - 9,943 5,010 |
|
| 204,164 95,029 299,193 284,674 |
|
| 190,328 94,346 284,674 |
8 Cost of raising funds
9 Charitable activity expenditure
Page 19
DocuSign Envelope ID: 5E1F80C7-C56A-4B03-9421-EEF6D6179770
AGE WESSEX (formerly Age Concern Southampton)
OPERATING AS AGE UK SOUTHAMPTON
NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 MARCH 2022
| 10 Support and governance costs Support costs Governance costs Total 2022 2022 2022 Support £ £ £ Staff costs 203,990 - 203,990 Depreciation 243 - 243 Premises costs 15,887 - 15,887 Insurance 1,998 - 1,998 Covid19 costs 9,495 - 9,495 Printing and stationery 4,526 - 4,526 Telephone 4,349 - 4,349 Computer costs 14,463 - 14,463 Publicity and events 156 - 156 Bookkeeping & payroll fees 10,275 - 10,275 Sundries 1,003 - 1,003 Bank charges 268 - 268 Governance Accountancy - 7,808 7,808 Legal and professional fees 50 2,107 2,157 Trustees' meeting expenses - 28 28 266,703 9,943 276,646 282,635 5,010 Analysed between Fundraising - - - Charitable Activities 266,703 9,943 276,646 266,703 9,943 276,646 9,873 272,762 5,010 282,635 5,010 For the year ended 31 March 2021 For the year ended 31 March 2021 Support costs are all allocated on the basis of use of facilities. Fundraising Charitable Activities |
10 Support and governance costs Support costs Governance costs Total 2022 2022 2022 Support £ £ £ Staff costs 203,990 - 203,990 Depreciation 243 - 243 Premises costs 15,887 - 15,887 Insurance 1,998 - 1,998 Covid19 costs 9,495 - 9,495 Printing and stationery 4,526 - 4,526 Telephone 4,349 - 4,349 Computer costs 14,463 - 14,463 Publicity and events 156 - 156 Bookkeeping & payroll fees 10,275 - 10,275 Sundries 1,003 - 1,003 Bank charges 268 - 268 Governance Accountancy - 7,808 7,808 Legal and professional fees 50 2,107 2,157 Trustees' meeting expenses - 28 28 266,703 9,943 276,646 282,635 5,010 Analysed between Fundraising - - - Charitable Activities 266,703 9,943 276,646 266,703 9,943 276,646 9,873 272,762 5,010 282,635 5,010 For the year ended 31 March 2021 For the year ended 31 March 2021 Support costs are all allocated on the basis of use of facilities. Fundraising Charitable Activities |
Total 2021 £ 207,296 243 22,600 1,601 14,479 4,418 4,031 20,077 - 7,081 611 198 4,600 410 - |
|---|---|---|
| 266,703 9,943 276,646 |
287,645 |
|
| 282,635 5,010 - - - 266,703 9,943 276,646 |
287,645 9,873 277,772 |
|
| 266,703 9,943 276,646 |
287,645 |
|
| 9,873 272,762 5,010 282,635 5,010 |
||
| 287,645 |
Governance costs includes £3,000 (2021: £3,000) in respect of the independent examination.
11 Trustees
None of the Trustees (or any persons connected with them) received any remuneration or reimbursed expenses during the current or prior year.
Page 20
DocuSign Envelope ID: 5E1F80C7-C56A-4B03-9421-EEF6D6179770
AGE WESSEX (formerly Age Concern Southampton)
OPERATING AS AGE UK SOUTHAMPTON
NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 MARCH 2022
12 Employees
| Employees Number of employees The average monthly number of employees during the year was: Management Other Employment costs Wages and salaries Social security costs Pension costs Other staff costs |
2022 2021 Number Number 3 3 7 6 |
|---|---|
| 10 9 |
|
| 2022 2021 £ £ |
|
| 184,746 187,703 11,762 10,775 6,290 7,242 1,192 1,576 |
|
| 203,990 207,296 |
There were no employees whose annual remuneration was £60,000 or more.
In addition, a great amount of time, the value of which has not been reflected in these financial statements, is donated by our many volunteers and by staff members in excess of their contracted hours.
| 13 | Tangible Fixed Assets | Equipment & furniture | Equipment & furniture |
|---|---|---|---|
| Cost | £ | ||
| At 1 April 2021 | 20,115 | ||
| Additions | 2,714 | ||
| Disposals | (2,248) | ||
| At 31 March 2022 | 20,581 | ||
| Depreciation | £ | ||
| At 1 April 2021 | 19,872 | ||
| Depreciation charge during the year | 243 | ||
| Eliminated on disposal | (2,248) | ||
| At 31 March 2022 | 17,867 | ||
| Net Book Value | £ | ||
| At 31 March 2021 | 243 | ||
| At 31 March 2022 | 2,714 | ||
| 14 | Debtors: amounts falling due within one year: | 2022 | 2021 |
| £ | £ | ||
| Trade debtors | 70,576 | 38,719 | |
| Prepayments and accrued income | 1,326 | 4,767 | |
| Other debtors | - | 4,000 | |
| 71,902 | 47,485 |
Page 21
DocuSign Envelope ID: 5E1F80C7-C56A-4B03-9421-EEF6D6179770
AGE WESSEX (formerly Age Concern Southampton)
OPERATING AS AGE UK SOUTHAMPTON
NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 MARCH 2022
| 15 Creditors : amounts falling due within one year: Trade creditors Other taxation and social security Other creditors Accruals & deferred income |
2022 2021 £ £ |
|---|---|
| 4,708 22,793 4,650 3,256 150 11,114 30,043 10,370 |
|
| 39,551 47,533 |
16 Retirement benefit schemes
In previous years, the charitable company disclosed its participation in the Age UK Retirement Benefits Scheme. However, recent investigations into the history of Age Concern Southampton's involvement with the Age UK Retirement Scheme have revealed that Age Wessex (formerly Age Concern Southampton), a company limited by guarantee ("the charitable company") has never been an employer in the defined benefit section of the Retirement Scheme. The ongoing defined benefit liabilities attributable to former Age Concern Southampton Charitable Trust were therefore not transferred to its successor, the charitable company, and have therefore been removed from the accounts. However, the charitable company has made a payment of £10,000 in respect of pension liabilities as full and final settlement June 2021.
17 Restricted funds
Movement in funds
| Restricted funds | Movement in funds |
|---|---|
| Padwell Road DCC Fundraising Age UK Warm Homes HIWCF Recovery Fund Independent Age London Marathon NHS Charities Together PHS COMF Public Health Southampton Southampton Elderly Citizens Trust Southampton CC Infection Control Fund Soton Charitable Trust |
Balance at 1 April 2021 Incoming resources Resources expended Transfers Balance at 31 March 2022 £ £ £ £ £ |
| 2,832 - - - 2,832 - 10,230 (10,230) - - - 5,000 (5,000) - - - 15,000 (15,000) - - - 1,369 (1,369) - - - 1,994 (1,994) - - - 22,175 - - 22,175 - 30,400 (30,400) - - - 15,017 (15,017) - - - 15,419 (15,419) - - - 600 (600) - - |
|
| 2,832 117,204 (95,029) - 25,007 |
| Prior year | Movement in funds | Movement in funds | Movement in funds | ||||
|---|---|---|---|---|---|---|---|
| Balance at 1 April 2020 |
Incoming resources |
Resources expended |
Transfers | Balance at 31 March 2021 |
|||
| £ | £ | £ | £ | £ | |||
| Rotary Southampton Elderly Citizens Trust | - | 17,721 | (17,721) | - | - | ||
| Age UK Warm Homes | - | 3,162 | (3,162) | - | - | ||
| Padwell Road DCC Fundraising | 3,224 | (392) | - | - | 2,832 | ||
| Age UK Covid19 Emergency Fund | - | 15,058 | (15,058) | - | - | ||
| National Emergency Trust | - | 5,000 | (5,000) | - | - | ||
| National Lottery Covid19 CSF | - | 41,370 | (41,370) | - | - | ||
| Southampton Charitable Trust | - | 300 | (300) | - | - | ||
| Southampton CCG Covid19 | - | 11,239 | (11,239) | - | - | ||
| Southampton City Council Covid19 BuildingsGrant | 496 | (496) | - | - | |||
| 3,224 | 93,954 | (94,346) | - | 2,832 |
Page 22
DocuSign Envelope ID: 5E1F80C7-C56A-4B03-9421-EEF6D6179770
AGE WESSEX (formerly Age Concern Southampton)
OPERATING AS AGE UK SOUTHAMPTON
NOTES TO THE ACCOUNTS (continued)
FOR THE YEAR ENDED 31 MARCH 2022
17 Restricted funds (continued)
Padwell Road DCC Fundraising - Fundraising activities by clients and supporters at Padwell Road Day Care Centre.
Age UK Warm Homes - A welfare benefits project. Benefit checks for vulnerable clients funded by Age UK through a multi-supplier contract.
Hampshire & Isle of Wight Recovery Fund - Loan tablets for digital inclusion support for older people who have been disproportionately impacted by shielding and social isolation measures during the covid pandemic.
Independent Age - Service recovery grant for face-to-face services for those with the highest levels of loneliness.
London Marathon - Runner raised funds for digital inclusion support for older people.
NHS Charities Together - Digital support for NHS patients with COPD.
PHS COMF - Public Health Southampton Contain Outbreak Management Fund - A range of measures to reduce covid infection risks across multiple non- day-care services.
Public Health Southampton - Digital support to reduce covid infection risks for NHS patients with COPD and in the wider community.
Rotary Southampton Elderly Citizens Trust - A project to fund volunteer co-ordination to recruit and train new volunteers and support and develop existing volunteers.
Southampton City Council Infection Control Fund - A range of measures to reduce covid infection risks in day-care multiple services.
Southampton Charitable Trust - Grant towards the Information & Advice Service supporting the most frail and vulnerable older people in the city.
Transfers are made between restricted and unrestricted funds when funds are no longer required to be held for specific purposes or where insufficient funds are held to meet specific grant purposes.
| 18 Analysis of net assets between funds Fund balances at 31 March 2022 are represented by: Tangible assets Current assets/(liabilities) Prior year Fund balances at 31 March 2021 were represented by: Tangible assets Current assets/(liabilities) |
Unrestricted funds Restricted Funds Total £ £ £ |
|---|---|
| 2,714 - 2,714 142,562 25,007 167,569 |
|
| 145,276 25,007 170,283 |
|
| Unrestricted funds Restricted Funds Total £ £ £ |
|
| 243 - 243 166,557 2,832 169,389 |
|
| 166,800 2,832 169,632 |
Page 23
DocuSign Envelope ID: 5E1F80C7-C56A-4B03-9421-EEF6D6179770
AGE CONCERN SOUTHAMPTON OPERATING AS AGE UK SOUTHAMPTON
NOTES TO THE ACCOUNTS (continued)
FOR THE YEAR ENDED 31 MARCH 2022
19 Operating lease commitments
At the reporting end date the charitable company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
| payments under non-cancellable operating leases, which fall due as follows: | |
|---|---|
| Within one year Between two and five years |
2022 2021 £ £ |
| 5,709 5,001 - - |
|
| 5,709 5,001 |
The contractual lease commitment is now a rolling 6 month notice period, and future minimum payments now represent a 6 month commitment.
20 Related Party Transactions
| Related Party Transactions | |
|---|---|
| Aggregate remuneration Remuneration of key management personnel is as follows: |
2022 2021 £ £ |
| 114,441 101,702 |
There were no other related party transactions during the year (2021: none).
21 Contingent Asset
Under the terms of the lease of the Padwell Road Day Centre (the “demised premises”) dated August 1985, granted to the charitable company (the “Lessee”) by Saxon Weald Homes Limited (the “Lessor”), in the event of a sale of the freehold of the entire site at 11-21 Padwell Road (of which the demised premises form part), the charitable company is entitled to “receive such proportion of the purchase money as shall amount to 11/52 of the total value of the property including any leasehold interest of the Lessee in the demised premises less 41/52 of the value at the time of such sale of any such leasehold interest of the Lessee the value thereof to be agreed between the Lessor and Lessee or in default of agreement to be settled by arbitration”.
The occurrence or otherwise of any such sale is not under the control of the charitable company and the amount of any potential claim is highly uncertain. Consequently, this claim has been classified as a contingent asset. The value of the charity’s original investment (in the land purchase and development of the property) that gave rise to this contingent asset is believed to be in the region of £174,000.
Page 24