COMPANY REGISTRATION NUMBER: 06785041 CHARITY REGISTRATION NUMBER: 1128565
Age UK Carlisle And Eden
Company Limited by Guarantee
Financial Statements
31 March 2022
SAINT & CO
Chartered Accountants & statutory auditor Sterling House Wavell Drive, Rosehill Carlisle, Cumbria CA1 2SA
Age UK Carlisle And Eden
Company Limited by Guarantee
Financial Statements
Year ended 31 March 2022
| PAGE | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent auditor's report to the members | 10 |
| Statement of financial activities (including income and expenditure | |
| account) | 14 |
| Statement of financial position | 15 |
| Statement of cash flows | 16 |
| Notes to the financial statements | 17 |
Age UK Carlisle And Eden
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 March 2022
The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 March 2022.
Chair's report
Age UK Carlisle and Eden are committed to offering help and support to older people living in the Carlisle and Eden area. We value the opinions and contributions older people make and actively promote their position in society.
The last 2 years we faced unprecedented challenges through the Covid-19 pandemic, however despite this setback Age UK Carlisle and Eden still delivered a comprehensive range of services to thousands of older people throughout Carlisle and Eden districts.
Services across all our departments are now operating as they were prior to COVID. As an organisation we continue to grow and strive to take things forward, constantly looking at new ways of working and improving how we help people to retain independence at home and promote physical and mental health and wellbeing.
We have created strong partnership links with other agencies and are a vital component of our local communities, including supporting statutory and NHS services.
Age UK Carlisle and Eden will continue to evolve and adapt to current trends and the ongoing commitment, dedication and compassion of all staff and volunteers ensures the continuing support and championing of Carlisle and Eden's older population'.
I would like to thank my fellow board members for their contribution and support in helping Age UK Carlisle and Eden fulfil their aims and objectives in making later life a more enjoyable experience for older people?
Chris Fuller
Chair
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Age UK Carlisle And Eden
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2022
ACHIEVEMENTS AND PERFORMANCE
Review of achievements and performance
Age UK Carlisle and Eden are supported by the dedication and commitment of its strong team of 180+ volunteers to deliver the services and activities which are so vital to older people in Carlisle and Eden Districts. Volunteers are our most valuable and vital asset and bring a unique perspective to our work offering over two hundred hours per week of voluntary service. We are also indebted to the Chair and Board of Trustees for their leadership and direction.
Between 2021/22 Age UK Carlisle and Eden helped and supported over 2500 older people in the Carlisle and Eden area.
Home Support
Our 'Home Support' service offers much needed support to vulnerable people, helping them remain independent in their own homes. The service is delivered by a professional team of experienced and compassionate paid employees, there is a nominal charge to help recover any expenditure incurred.
Well@Home
Well@Home is a bespoke hospital discharge service funded by the North Cumbria NHS partnership. It includes assisted discharge from hospital with up to four weeks wrap around support in the individual’s home to aid recovery and prevent readmission.
Retail / Shops
We have six shops across the Carlisle and Eden districts, at Denton Holme and two in Carlisle, Brampton, Alston, and Kirkby Stephen. Shop sales and Gift Aid were hugely impacted by the two national lockdowns, however when open sales were buoyant. A huge thank you must go to all the volunteers who help us to open each shop every day, their support is appreciated.
Campaigns / Fundraising
Gift Aid is our main fund rising activity over £11,000 raised between 2021/2022.
Campaigns this year included the Winter Warmth campaign which was in collaboration with Cumbria Community Foundation and the Vulnerable Household fund which we distributed on behalf of Eden District Council.
Information and Advice Service
This service provides free, accessible information on a wide range of issues, including welfare benefits, income maximisation, housing and health care. Welfare benefits information is the most sought-after advice. Financial Inclusion is an important element of addressing needs, as it increases opportunities in terms of social activities, transport, domestic support, and aids and adaptations. The additional income is an added benefit to the local economy.
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Age UK Carlisle And Eden
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2022
Figures from April 2021 to March 2022:
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Total enquiries - 2266
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The total amount of benefits and arrears secured in the period between April 2021 and March 2022 is £1,949,930 This is made up of £1,689,748 annual gain and £260,182 in back payments.
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Winter Warmth grants - £61,650 *Age UK Carlisle and Eden act as administrators for Cumbria Community Foundation in distributing grants to low-income households to help them pay for their fuel costs over the winter.
The Information Team give presentations, talks and attend joint events on a regular basis.
3 Kirkstone
3 Kirkstone cottage is available for use by staff and volunteers of Age UK Carlisle and Eden. The property is managed by the resort.
Quality Standards
AQS IAQPS CQS ISO27001
The organisation is registered with the Fundraising Regulator.
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Age UK Carlisle And Eden
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2022
FINANCIAL REVIEW
Review of the financial position of the charity
The Incoming Resources for the year ended 31st March 2022 were £629,734. Outgoing Resources amounted to £663,997. The deficit for the period was £19,347 which included an unrealised gain on investments of £14,916. Donations of £16,964 were received during the year together with a legacy of £7,480. Shop sales increased to £265,122 from a Covid 19 low of £79,839; not quite back to pre-Covid levels but heading in the right direction as public confidence grows.
The overall deficit of just £19,347 is as near to break even as we could hope to get and is a direct result of the Well at Home service we entered into with the NHS via Cumbria Community Foundation and Cumbria Voluntary Service. This contract has been renewed for the current financial year helping to free up beds in the hospitals and ensure a smooth transition from hospital to home for the former patients. The last year has seen many changes in the organisation as we emerge from Covid restrictions with an increased emphasis on social inclusion meanwhile the demand for our advice services remains high.
Reserves Policy
In order to ensure continuity of service to our clients, the management committee hopes to have reserves equal to a year's expenditure (on continuing activities) for each service, currently £663,997. This should give sufficient time to make alternative arrangements for services in the event of discontinuation of funding. Staff who have been employed continuously for more than 2 years would require redundancy payments from reserves if the charity had to cease.
On 31st March 2022 total reserves were £1,444,588 of which £366,772 were restricted and £308,137 were held as investments for a Bequest, which leaves remaining reserves on 31 March 2022 of £769,679. The reserves are greater than those required to be in line with the charity's reserve policy. The trustees felt that following an unprecedented pandemic and with the current unstable financial situation as a result of the war in Ukraine, such reserves would enable the charity to secure services in the future. The trustees are mindful of the large deficits that have occurred in past years and wish the charity to fulfil its mission statement for many years to come.
Included in the restricted reserves is £121,197 which can only be realised by disposing of tangible fixed assets and investment property.
Principal funding sources
The charity achieves its income from three main sources:
Direct fund-raising and income generation
From its six shops From fund-raising events and collections Age UK Income Generation Initiatives
Grants from other charities
The charity actively seeks grants from other charitable grant making bodies including the Big Lottery. Grants are noted in the financial statements, (notes five & six).
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Age UK Carlisle And Eden
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2022
Investment policy and objectives
To maximise income and preserve capital. The Board aims to maximise the total investment return within the objectives of maintaining income while continuing to preserve the real value of investments and to maximise income on invested restricted funds.
OBJECTIVES AND ACTIVITIES
Summary of the objects of the charity
Age UK Carlisle and Eden seeks to promote the relief of elderly people in any manner which now or hereafter may be deemed by law to be charitable in and around Carlisle and Eden Districts or otherwise in the County of Cumbria (hereinafter called "the area of benefit")
Mission Statement
Age UK Carlisle and Eden seek to promote the contributions older people make to society and to promote their interests by working with and for them to help make older life a fulfilling and enjoyable experience.
We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.
Charity's aims and the changes it seeks to make through its activities
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To improve the quality of life of frail and elderly people
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To help towards the maintaining of independence
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To broaden interest and stimulate self-improvement
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To combat loneliness
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To promote health and a healthy lifestyle
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To provide advice and information
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To be alert for opportunities to influence and educate public opinion over issues which concern the wellbeing of the elderly population and to be ready if necessary to campaign on their behalf.
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To explore new opportunities and respond to them and to engage in research especially into areas of need within the district.
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To work with and look for ways of co-operating with statutory and other voluntary bodies and increase our ability to influence service provision with our key partners.
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To promote links with other Age UK organisations and to play an appropriate part in the Age UK structures at national, regional and county level.
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To ensure the highest standards in all our enterprises.
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To provide an appropriate structure of management, salaried workers and volunteers together with appropriate equipment to sustain and develop these areas.
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To raise and maintain the finance needed to achieve all these aims.
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Age UK Carlisle And Eden
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Age UK Carlisle and Eden is a company limited by guarantee (Company Number 06785041) and is a registered charity no 1128565. It is governed by its constitution which is in its Memorandum of Articles of Association last amended 13 March 2009. Age UK Carlisle and Eden wholly own a separate Trading Company, which is Age UK Carlisle and Eden Enterprises Ltd, Company Number 5416847. There is a separate Board for this Company made up of 2 Directors, who are the Chairman of the Charity and the Chief Executive of the Charity. Due to the cessation of insurance services this company is now dormant.
Charitable objects
Age UK Carlisle and Eden seeks to promote the relief of elderly people in any manner which now or hereafter may be deemed by law to be charitable in and around Carlisle and Eden Districts or otherwise in the County of Cumbria (hereinafter called "the area of benefit").
Methods adopted for the recruitment and appointment of new trustees
Membership of the Board shall consist of:
- (i) The Chair elected by members of the organisation
(ii) Such other number of persons elected by the members of the organisation as may from time to time be determined in regulations adopted and issued in accordance with Clause 25 of the Constitution.
- (iii) Those persons co-opted by the Board of Trustees in accordance with Clause 27 of the Constitution.
All new and potential trustees are given a Trustee Induction Pack, which clearly explains their role, in terms of personal and legal duties. Trustees are also given the opportunity to access training, either locally or nationally to develop their skills and keep their knowledge current. Trustees are also invited to visit our services and activities and spend time with staff on their particular projects. An annual budget is allocated for Trustee training.
Organisational structure of the charity and how decisions are made
The Board of Trustees met five times during the year and were responsible for strategic direction, policy development and financial viability of the charity. The Chief Executive acts as Secretary to the Board and all operational matters are delegated to this post. The Trustees receive written reports from the Chief Executive, senior managers, project staff and other working groups on a regular basis.
Charity as part of a wider network
Age UK Carlisle and Eden is a member of the national Age UK organisation. This is a federation of over 150 charities operating under the name of Age England Association. Quality standards, agreed by the Age UK, must be met to remain in membership. The Chairman and Chief Executive regularly attend the Age UK Northwest Regional meetings. The Chief Executive and Senior Managers sit on a number of interagency groups. They use these forums to ensure that the views of older people are sought and used in in the shaping and delivery of services and that policy and service development is non-discriminatory on the grounds of age.
Relationship between the charity and related parties
This is an ongoing process and every opportunity is taken to raise the profile of the organisation. We do this through the local media, giving talks and holding events throughout Carlisle and Eden Districts, as well as the distribution of leaflets and posters to a wide range of public access venues.
Pay Policy for Senior Staff
The Trustees consider that the Board and the Senior Management Team comprise the key management personnel of the Charity in charge of directing and controlling, running and operating the Charity on a day to
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Age UK Carlisle And Eden
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2022
day basis. All Trustees give of their time freely and no Trustee received remuneration in the year. Details of Trustees' expenses are disclosed in note 20 to the accounts.
The pay of the senior staff is reviewed annually and normally increased in accordance with average earnings. In view of the nature of the Charity, the Trustees use the National Joint Council (NJC) salary scales as a benchmark. Levels of pay are subject to affordability, job evaluation and necessary market adjustment.
Major risks to which the charity is exposed
The trustees have examined the major strategic, business and operational risks to which the charity is exposed, in particular those related to operations and finance, and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.
This work has identified that financial sustainability is the major financial risk for the Charity. A key element in the management of financial risk is a regular review of available liquid funds to settle debts as they fall due, regular liaison with the bank and active management of trade debtors and creditors balances to ensure sufficient working capital by the Charity.
Attention has also been focussed on non-financial risks, arising from fire, health and safety of staff and clients, management of funding, infection control and food hygiene. These risks are managed by ensuring accreditation is up to date, having robust policies and procedures in place and regular awareness training for staff and volunteers working in these operational areas.
We have engaged consultants, Ellis Whittam, a company which provides information and advice on Employment Law matters through its consultancy programme.
Ellis Whittam are also engaged as consultants to provide Health and Safety advice and information.
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Age UK Carlisle And Eden
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2022
REFERENCE AND ADMINISTRATIVE DETAILS
Registered charity name Age UK Carlisle And Eden Charity registration number 1128565 Company registration number 06785041 Principal office and registered 20 Spencer Street office Carlisle Cumbria CA1 1BG
THE TRUSTEES
The trustees who served the company during the period were as follows:
Mr. Chris Fuller (Chair) Mr. Jonty Hanlon Mrs. Brenda Hill (Treasurer) Mr. Stuart Irving Ms. Alison Hampson Ms. Gillian Linton Mr. Andrew Shekell Chief Executive Mrs. Alison Ambrose Other Senior Management Ms. Rebecca Graham Mr. Paul Moffat BANKERS Lloyds Bank plc Lowther Street Carlisle, Cumbria, CA3 8DB SOLICITORS Bendles 22 Portland Square Carlisle, Cumbria, CA1 1PE PERSONNEL CONSULTANTS Ellis Whittam Ltd Woodhouse Church Lane Aldford, Chester, CA3 6JD FINANCIAL ADVISORS Brewin Dolphin Time Central Gallowgate Newcastle Upon Tyne, NE1 4SR AUDITOR Saint & Co Chartered Accountants & statutory auditor Sterling House Wavell Drive, Rosehill Carlisle, Cumbria CA1 2SA
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Age UK Carlisle And Eden
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2022
EVENTS AFTER THE END OF THE REPORTING PERIOD
Particulars of events after the reporting date are detailed in note 37 to the financial statements.
TRUSTEES' RESPONSIBILITIES STATEMENT
The trustees, who are also directors for the purposes of company law, are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period.
In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the applicable Charities SORP;
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make judgments and accounting estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
AUDITOR
Each of the persons who is a trustee at the date of approval of this report confirms that:
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so far as they are aware, there is no relevant audit information of which the charity's auditor is unaware; and
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they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information.
SMALL COMPANY PROVISIONS
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 24[th] October 2022 and signed on behalf of the board of trustees by:
Mr. Chris Fuller Trustee
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Age UK Carlisle And Eden
Company Limited by Guarantee
Independent Auditor's Report to the Trustees of Age UK Carlisle And Eden
Year ended 31 March 2022
OPINION
We have audited the financial statements of Age UK Carlisle And Eden (the 'charity') for the year ended 31 March 2022 which comprise the statement of financial activities (including income and expenditure account), statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
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give a true and fair view of the state of the charity's affairs as at 31 March 2022 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
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• have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011.
BASIS FOR OPINION
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
CONCLUSIONS RELATING TO GOING CONCERN
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
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Age UK Carlisle And Eden
Company Limited by Guarantee
Independent Auditor's Report to the Trustees of Age UK Carlisle And Eden (continued)
Year ended 31 March 2022
OTHER INFORMATION
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION
We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to report to you if, in our opinion:
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the information given in the Trustees' Annual Report is inconsistent in any material respect with the financial statements; or
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the charitable company has not kept adequate accounting records; or
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the financial statements are not in agreement with the accounting records and returns; or
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we have not received all the information and explanations we require for our audit;
RESPONSIBILITIES OF TRUSTEES
As explained more fully in the trustees' responsibilities statement, the trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
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Age UK Carlisle And Eden
Company Limited by Guarantee
Independent Auditor's Report to the Trustees of Age UK Carlisle And Eden (continued)
Year ended 31 March 2022
AUDITOR'S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.
The extent to which the audit was considered capable of detecting irregularities including fraud
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
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the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
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we identified the laws and regulations applicable to the charity through discussions with directors and other management;
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we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charity;
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we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
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identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the charity's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
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making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;
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To address the risk of fraud through management bias and override of controls, we:
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performed analytical procedures to identify any unusual or unexpected relationships;
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tested journal entries to identify unusual transactions;
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assessed whether judgements and assumptions made in determining the accounting estimates set out in the accounting policies were indicative of potential bias; and
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investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation;
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Age UK Carlisle And Eden
Company Limited by Guarantee
Independent Auditor's Report to the Trustees of Age UK Carlisle And Eden (continued)
Year ended 31 March 2022
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reading the minutes of meetings of those charged with governance;
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enquiring of management as to actual and potential litigation and claims; and
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reviewing correspondence with HMRC, relevant regulators (Charity Commission) and the charity's legal advisors.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Saint & Co is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.
USE OF OUR REPORT
This report is made solely to the charity's members, as a body, in accordance with section 145 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed.
Saint & Co Sterling House Chartered Accountants & statutory auditor Wavell Drive, Rosehill Carlisle, Cumbria CA1 2SA
Date: 27[th] October 2022
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Age UK Carlisle And Eden
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 March 2022
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 5 | 42,398 | 150,737 | 193,135 | 459,010 |
| Charitable activities | 6 | 60,396 | 72,322 | 132,718 | 219,465 |
| Other trading activities | 7 | 267,897 | – | 267,897 | 80,051 |
| Investment income | 8 | 10,465 | – | 10,465 | 9,434 |
| Other income | 9 | 25,519 | – | 25,519 | 120 |
| ---------------------------------- | ---------------------------------- | ---------------------------------- | ---------------------------------- | ||
| Total income | 406,675 | 223,059 | 629,734 | 768,080 | |
| ================================== | ================================== | ================================== | ================================== | ||
| Expenditure | |||||
| Expenditure on raising funds: | |||||
| Costs of other trading activities | 10 | (247,598) | (13,334) | (260,931) | (214,253) |
| Costs of raising donations and | |||||
| legacies | 11 | (48,282) | – | (48,282) | (70,761) |
| Investment management costs | 12 | (2,964) | – | (2,964) | (2,498) |
| Expenditure on charitable activities | 13,14 | (197,910) | (153,909) | (351,820) | (299,454) |
| ---------------------------------- | ---------------------------------- | ---------------------------------- | ---------------------------------- | ||
| Total expenditure | (496,754) | (167,243) | (663,997) | (586,966) | |
| ================================== | ================================== | ================================== | ================================== | ||
| Net gains on investments | 16 | 14,916 | – | 14,916 | 61,513 |
| ---------------------------------- | ---------------------------------- | ---------------------------------- | ---------------------------------- | ||
| Net (expenditure)/income and net movement | |||||
| in funds | (75,163) | 55,816 | (19,347) | 242,627 | |
| ================================== | ================================== | ================================== | ================================== | ||
| Reconciliation of funds | |||||
| Total funds brought forward | 1,152,979 | 310,956 | 1,463,935 | 1,221,308 | |
| -------------------------------------------- | ---------------------------------- | -------------------------------------------- | -------------------------------------------- | ||
| Total funds carried forward | 1,077,816 | 366,772 | 1,444,588 | 1,463,935 | |
| ============================================ | ================================== | ============================================ | ============================================ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 17 to 34 form part of these financial statements.
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Age UK Carlisle And Eden
Company Limited by Guarantee
Statement of Financial Position (continued)
31 March 2022
| 2022 | 2021 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| FIXED ASSETS | ||||
| Tangible fixed assets | 21 | 16,250 | 1,972 | |
| Investments | 22 | 465,599 | 453,576 | |
| ---------------------------------- | ---------------------------------- | |||
| 481,849 | 455,548 | |||
| CURRENT ASSETS | ||||
| Stocks | 23 | 1,990 | 1,043 | |
| Debtors | 24 | 19,564 | 45,989 | |
| Cash at bank and in hand | 1,016,430 | 1,068,211 | ||
| -------------------------------------------- | -------------------------------------------- | |||
| 1,037,984 | 1,115,243 | |||
| CREDITORS: amounts falling due within one year | 25 | (75,245) | (105,578) | |
| -------------------------------------------- | -------------------------------------------- | |||
| NET CURRENT ASSETS | 962,739 | 1,009,665 | ||
| -------------------------------------------- | -------------------------------------------- | |||
| TOTAL ASSETS LESS CURRENT LIABILITIES | 1,444,588 | 1,465,213 | ||
| CREDITORS: amounts falling due after more than one | ||||
| year | 26 | – | (1,278) | |
| -------------------------------------------- | -------------------------------------------- | |||
| NET ASSETS | 1,444,588 | 1,463,935 | ||
| ============================================ | ============================================ | |||
| FUNDS OF THE CHARITY | ||||
| Restricted funds | 366,772 | 310,956 | ||
| Unrestricted funds | 1,077,816 | 1,152,979 | ||
| -------------------------------------------- | -------------------------------------------- | |||
| Total charity funds | 31 | 1,444,588 | 1,463,935 | |
| ============================================ | ============================================ |
For the year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies but as this company is a charity, it is subject to audit under section 145 of the Charities Act 2011.
The trustees have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
The trustees acknowledge their responsibilities for complying with the requirements of the Act 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.
These financial statements were approved by the board of trustees and authorised for issue on 24[th] October 2022, and are signed on behalf of the board by:
Mr. Chris Fuller Mrs. Brenda Hill Trustee Trustee
Company Registration Number: 06785041
The notes on pages 17 to 34 form part of these financial statements.
- 15 -
Age UK Carlisle And Eden
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 March 2022
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net (expenditure)/income | (19,347) | 242,627 |
| Adjustments for: | ||
| Depreciation of tangible fixed assets | 4,982 | 4,242 |
| Government grant income | (15,578) | (320,401) |
| Net (gains)/losses on investments | (14,916) | (61,513) |
| Dividends, interest and rents from investments | (7,936) | (6,299) |
| Other interest receivable and similar income | (2,529) | (3,135) |
| Interest payable and similar charges | 1,864 | 1,016 |
| Gains on disposal of tangible fixed assets | (4,260) | – |
| Changes in: | ||
| Stocks | (947) | 1,449 |
| Trade and other debtors | 26,425 | (14,349) |
| Trade and other creditors | (29,825) | 40,624 |
| ----------------------------- | ---------------------------------- | |
| Cash generated from operations | (62,067) | (115,739) |
| Interest paid | (1,864) | (1,016) |
| Interest received | 2,529 | 3,135 |
| ----------------------------- | ---------------------------------- | |
| Net cash used in operating activities | (61,402) | (113,620) |
| ============================= | ================================== | |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Dividends, interest and rents from investments | 7,936 | 6,299 |
| Purchase of tangible assets | (19,500) | – |
| Proceeds from sale of tangible assets | 4,500 | – |
| Purchases of other investments | (53,791) | (30,679) |
| Proceeds from sale of other investments | 60,104 | 34,459 |
| ----------------------------- | ---------------------------------- | |
| Net cash (used in)/from investing activities | (751) | 10,079 |
| ============================= | ================================== | |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Government grant income | 15,578 | 320,401 |
| Payments of finance lease liabilities | (1,787) | (1,339) |
| ----------------------------- | ---------------------------------- | |
| Net cash from financing activities | 13,791 | 319,062 |
| ============================= | ================================== | |
| NET (DECREASE)/INCREASE IN CASH AND CASH EQUIVALENTS | (48,362) | 215,521 |
| CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR | 1,074,386 | 858,865 |
| -------------------------------------------- | -------------------------------------------- | |
| CASH AND CASH EQUIVALENTS AT END OF YEAR | 1,026,024 | 1,074,386 |
| ============================================ | ============================================ | |
| RECONCILIATION WITH STATEMENT OF FINANCIAL POSITION | ||
| CASH AT BANK AND IN HAND | 1,016,430 | 1,068,211 |
| CASH AND CASH EQUIVALENTS WITHIN FIXED ASSET INVESTMENTS | 9,594 | 6,175 |
| -------------------------------------------- | -------------------------------------------- | |
| CASH AND CASH EQUIVALENTS AT END OF YEAR | 1,026,024 | 1,074,386 |
| ============================================ | ============================================ |
The notes on pages 17 to 34 form part of these financial statements.
- 16 -
Age UK Carlisle And Eden
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2022
1. GENERAL INFORMATION
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 20 Spencer Street, Carlisle, Cumbria, CA1 1BG.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Consolidation
The entity has taken advantage of the exemption from preparing consolidated financial statements contained in Section 402 of the Companies Act 2006 on the basis that its subsidiary is excluded from consolidation on the grounds that its inclusion is not material for the purpose of giving a true and fair view.
Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. Management believe there are no key assumptions or other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities.
- 17 -
Age UK Carlisle And Eden
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2022
3. ACCOUNTING POLICIES (continued)
Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account (other than those held for investment purposes).
Creditors and provisions
Creditors and provisions are recognised where the charity 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 amount after allowing for any trade discounts due.
Fund accounting
Unrestricted funds consist of donations and other income received or generated for use towards the objectives of the Charity without further specified purpose and are available for use as general funds.
The Trustees have the discretion to allocate sums to particular funds as they so wish. Such funds are known as designated funds and remain unrestricted.
Restricted funds are to be used for specified purposes as laid down by the donor. Expenditure which meets these criteria is identified to the fund, together with a fair allocation of management and support costs.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. Grants received towards the core function of the Charity are recognised in full in the Statement of Financial Activities in the year in which they are entitled to be received. Grants received to fund the acquisition of fixed assets are allocated to designated funds held to meet depreciation costs charged in future years.
-
where grants are received for specific purposes or services, these grants are shown within income from Charitable Activities. Where they relate to specific performance requirements, the income is deferred until these performance requirements are met.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
items donated for resale are included in shop income when sold and no value is placed on stock at the year end. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
- 18 -
Age UK Carlisle And Eden
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2022
3. ACCOUNTING POLICIES (continued)
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Costs relating to redundancy or termination payments are recognised as a liability and expense only when the company is demonstrably committed either to terminate the employment of an employee or group of employees before the normal retirement date or contract end date or to provide termination benefits as a result of an offer made in order to encourage voluntary redundancy.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
The Charity capitalises assets with a value (either asset cost or, if donated, market worth) which exceeds £1,000. Assets with a value of less than £1,000 are written off in the Statement of Financial Activities as incurred.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
| Leasehold Property | - | Straight line over 25 years |
|---|---|---|
| Motor Vehicles | - | 20% straight line |
| Computer and I.T Equipment | - | 25% straight line |
- 19 -
Age UK Carlisle And Eden
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2022
3. ACCOUNTING POLICIES (continued)
Investments
Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.
Investments in subsidiaries are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Stocks
The Charity holds stocks of donated goods in the shops. These stocks are gifted and are consequently not valued until sold. Goods purchased for resale are valued at the lower of cost and net realisable value.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
- 20 -
Age UK Carlisle And Eden
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2022
3. ACCOUNTING POLICIES (continued)
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received.
Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
Defined contribution plans
The charity operates a defined contribution pension scheme for employees. The assets of this scheme are held separately from those of the charity. Pension costs charged in the Statement of Financial Activities represent the contributions payable by the charity in the year.
4. LIMITED BY GUARANTEE
The Charity is Limited by Guarantee. Every member of the Charity undertakes to contribute such amount as may be required (up to £1) to the Charity's assets, if it should be wound up while he is a member or within one year after he ceases to be a member, for payment of the Charity's debts and liabilities contracted before he ceases to be a member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributors among themselves.
- 21 -
Age UK Carlisle And Eden
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2022
| 5. | DONATIONS AND LEGACIES | |||
|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2022 | ||
| £ | £ | £ | ||
| DONATIONS | ||||
| Donations | 16,964 | – | 16,964 | |
| LEGACIES | ||||
| Legacies | 7,480 | – | 7,480 | |
| GRANTS | ||||
| Age UK | 15,710 | 22,500 | 38,210 | |
| NHS | – | 78,403 | 78,403 | |
| Cumbria Community Foundation | – | 36,500 | 36,500 | |
| Government grant income | 2,244 | 13,334 | 15,578 | |
| ----------------------------- | ---------------------------------- | ---------------------------------- | ||
| 42,398 | 150,737 | 193,135 | ||
| ============================= | ================================== | ================================== | ||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2021 | ||
| £ | £ | £ | ||
| DONATIONS | ||||
| Donations | 7,687 | – | 7,687 | |
| LEGACIES | ||||
| Legacies | 30,025 | – | 30,025 | |
| GRANTS | ||||
| Age UK | 56,492 | – | 56,492 | |
| NHS | – | – | – | |
| Cumbria Community Foundation | 44,405 | – | 44,405 | |
| Government grant income | 320,401 | – | 320,401 | |
| ---------------------------------- | --------------- | ---------------------------------- | ||
| 459,010 | – | 459,010 | ||
| ================================== | =============== | ================================== | ||
| 6. | CHARITABLE ACTIVITIES | |||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2022 | ||
| £ | £ | £ | ||
| Cumbria Community Foundation - Winter Warmth | – | 4,161 | 4,161 | |
| Other Grant Income | 23,593 | 68,161 | 91,754 | |
| Service Income - Day Care Charges | – | – | – | |
| Service Income - Hire & Leisure Charges | 4,333 | – | 4,333 | |
| Home Support Income | 32,470 | – | 32,470 | |
| ----------------------------- | ----------------------------- | ---------------------------------- | ||
| 60,396 | 72,322 | 132,718 | ||
| ============================= | ============================= | ================================== |
- 22 -
Age UK Carlisle And Eden
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2022
6. CHARITABLE ACTIVITIES (continued)
| Unrestricted | Restricted | Total Funds | |||
|---|---|---|---|---|---|
| Funds | Funds | 2021 | |||
| £ | £ | £ | |||
| Cumbria Community Foundation - Winter | Warmth | – | 4,798 | 4,798 | |
| Other Grant Income | 75,282 | 122,838 | 198,120 | ||
| Service Income - Day Care Charges | 88 | – | 88 | ||
| Service Income - Hire & Leisure Charges | 2,250 | – | 2,250 | ||
| Home Support Income | 14,209 | – | 14,209 | ||
| ----------------------------- | ---------------------------------- | ---------------------------------- | |||
| 91,829 | 127,636 | 219,465 | |||
| ============================= | ================================== | ================================== | |||
| 7. | OTHER TRADING ACTIVITIES | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2022 | Funds | 2021 | ||
| £ | £ | £ | £ | ||
| Shop income | 265,122 | 265,122 | 79,839 | 79,839 | |
| Third party sales commission | 2,775 | 2,775 | 212 | 212 | |
| ---------------------------------- | ---------------------------------- | ----------------------------- | ----------------------------- | ||
| 267,897 | 267,897 | 80,051 | 80,051 | ||
| ================================== | ================================== | ============================= | ============================= | ||
| 8. | INVESTMENT INCOME | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2022 | Funds | 2021 | ||
| £ | £ | £ | £ | ||
| Income from listed investments | 7,936 | 7,936 | 6,299 | 6,299 | |
| Bank interest receivable | 2,529 | 2,529 | 3,135 | 3,135 | |
| ----------------------------- | ----------------------------- | ------------------------ | ------------------------ | ||
| 10,465 | 10,465 | 9,434 | 9,434 | ||
| ============================= | ============================= | ======================== | ======================== | ||
| 9. | OTHER INCOME | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2022 | Funds | 2021 | ||
| £ | £ | £ | £ | ||
| Gain on disposal of tangible fixed assets | |||||
| held for charity's own use | 4,260 | 4,260 | – | – | |
| Other income | 10,200 | 10,200 | – | – | |
| Gift Aid Commission | 11,059 | 11,059 | 120 | 120 | |
| ----------------------------- | ----------------------------- | --------------- | --------------- | ||
| 25,519 | 25,519 | 120 | 120 | ||
| ============================= | ============================= | =============== | =============== | ||
| 10. | COSTS OF RAISING DONATIONS AND LEGACIES | ||||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2022 | |||
| £ | £ | £ | |||
| Costs of generating income - Shops | 247,598 | 13,334 | 260,931 | ||
| ================================== | ============================= | ================================== |
- 23 -
Age UK Carlisle And Eden
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2022
| 10. | COSTS OF RAISING DONATIONS AND LEGACIES (continued) | COSTS OF RAISING DONATIONS AND LEGACIES (continued) | |||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2021 | |||
| £ | £ | £ | |||
| Costs of generating income - Shops | 214,253 | – | 214,253 | ||
| ================================== | =============== | ================================== | |||
| 11. | COSTS OF OTHER TRADING ACTIVITIES | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2022 | Funds | 2021 | ||
| £ | £ | £ | £ | ||
| Costs of other trading activities - | |||||
| Fundraising | 48,282 | 48,282 | 70,761 | 70,761 | |
| ============================= | ============================= | ============================= | ============================= | ||
| 12. | INVESTMENT MANAGEMENT COSTS | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2022 | Funds | 2021 | ||
| £ | £ | £ | £ | ||
| Portfolio management | 2,964 | 2,964 | 2,498 | 2,498 | |
| ======================== | ======================== | ======================== | ======================== | ||
| 13. | EXPENDITURE ON CHARITABLE ACTIVITIES | BY FUND TYPE | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2022 | |||
| £ | £ | £ | |||
| Day Care & Related Activities | – | – | – | ||
| Advocacy, Advice and Information | 49,436 | 122,459 | 171,895 | ||
| Other Services (inc Home Support) | 52,892 | 21,718 | 74,610 | ||
| Support costs | 95,582 | 9,732 | 105,315 | ||
| ---------------------------------- | ---------------------------------- | ---------------------------------- | |||
| 197,910 | 153,909 | 351,820 | |||
| ================================== | ================================== | ================================== | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2021 | |||
| £ | £ | £ | |||
| Day Care & Related Activities | 672 | – | 672 | ||
| Advocacy, Advice and Information | 63,659 | 49,554 | 113,213 | ||
| Other Services (inc Home Support) | 5,990 | 34,375 | 40,365 | ||
| Support costs | 126,545 | 18,659 | 145,204 | ||
| ---------------------------------- | ---------------------------------- | ---------------------------------- | |||
| 196,866 | 102,588 | 299,454 | |||
| ================================== | ================================== | ================================== |
- 24 -
Age UK Carlisle And Eden
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2022
14. EXPENDITURE ON CHARITABLE ACTIVITIES BY ACTIVITY TYPE
| Activities | ||||
|---|---|---|---|---|
| undertaken | Total funds | Total fund | ||
| directly | Support costs | 2022 | 2021 | |
| £ | £ | £ | £ | |
| Day Care & Related Activities | – | – | – | 672 |
| Advocacy, Advice and Information | 171,894 | 40,659 | 212,553 | 172,802 |
| Other Services (inc Home Support) | 74,609 | 20,190 | 94,799 | 64,574 |
| Governance costs | – | 44,468 | 44,468 | 61,406 |
| ---------------------------------- | ---------------------------------- | ---------------------------------- | ---------------------------------- | |
| 246,503 | 105,317 | 351,820 | 299,454 | |
| ================================== | ================================== | ================================== | ================================== |
15. ANALYSIS OF SUPPORT COSTS
| Shopmobility | Other | ||||
|---|---|---|---|---|---|
| Advocacy, | and | Activities | |||
| Advice and | Lowthwaite | including | |||
| Information | Lodge | shops | Total 2022 | Total 2021 | |
| £ | £ | £ | £ | £ | |
| Staff costs | 20,970 | 12,191 | – | 33,161 | 59,056 |
| General office | 19,689 | 7,999 | – | 27,688 | 24,742 |
| Governance costs | 3,894 | 3,009 | 37,565 | 44,468 | 61,406 |
| ----------------------------- | ----------------------------- | ----------------------------- | ---------------------------------- | ---------------------------------- | |
| 44,553 | 23,199 | 37,565 | 105,317 | 145,204 | |
| ============================= | ============================= | ============================= | ================================== | ================================== |
Support costs have been apportioned over the various activities of the charity including costs of generating funds as well as costs of charitable activities. The costs have been apportioned on the basis of the number of staff working within each activity the charity performs.
16. NET GAINS ON INVESTMENTS
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2022 | Funds | 2021 | |
| £ | £ | £ | £ | |
| Gains/(losses) on investment assets - | ||||
| Realised | 5,622 | 5,622 | 2,343 | 2,343 |
| Gains/(losses) on investment assets - | ||||
| Unrealised | 9,294 | 9,294 | 59,170 | 59,170 |
| ----------------------------- | ----------------------------- | ----------------------------- | ----------------------------- | |
| 14,916 | 14,916 | 61,513 | 61,513 | |
| ============================= | ============================= | ============================= | ============================= |
17. NET (EXPENDITURE)/INCOME
Net (expenditure)/income is stated after charging/(crediting):
| Net (expenditure)/income is stated after charging/(crediting): | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Depreciation of tangible fixed assets | 4,982 | 4,242 |
| Gains on disposal of tangible fixed assets | (4,260) | – |
| Fees payable for the audit of the financial statements | 9,500 | 10,500 |
| Operating lease payments recognised as an expense | 65,997 | 55,667 |
| ============================= | ============================= |
- 25 -
Age UK Carlisle And Eden
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2022
18. STAFF COSTS
The total staff costs and employee benefits for the reporting period are analysed as follows:
| The total staff costs and employee benefits for the reporting | period are analysed as follows: | |
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Wages and salaries | 427,365 | 386,839 |
| Social security costs | 24,443 | 18,606 |
| Employer contributions to pension plans | 10,343 | 8,392 |
| Other employee benefits | 1,966 | 1,956 |
| ---------------------------------- | ---------------------------------- | |
| 464,117 | 415,793 | |
| ================================== | ================================== |
During the year the charity paid out £nil (2021: £15,904) in redundancy payments.
The average head count of employees during the year was 31 (2021: 25). The average number of full-time equivalent employees was 23 (2021: 18). The average number of employees during the year is analysed as follows:
| follows: | ||
|---|---|---|
| 2022 | 2021 | |
| No. | No. | |
| Number of services staff | 12 | 12 |
| Number of fundraising and trading staff | 16 | 10 |
| Administrative staff | 2 | 2 |
| Management staff | 1 | 1 |
| --------------- | --------------- | |
| 31 | 25 | |
| =============== | =============== |
No employee received employee benefits of more than £60,000 during the year (2021: Nil).
Key Management Personnel
Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity. The total compensation paid to key management personnel for services provided to the charity was £95,063 (2021:£89,223).
19. TRUSTEE REMUNERATION AND EXPENSES
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees;
During the current and prior year no expenses were reimbursed to trustees.
20. TRANSFERS BETWEEN FUNDS
A transfer was made out of the Cumbria Community Foundation restricted fund in the prior year to the general fund for fees taken in relation to administering grants in the prior year.
- 26 -
Age UK Carlisle And Eden
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2022
21. TANGIBLE FIXED ASSETS
| Short | |||||
|---|---|---|---|---|---|
| leasehold | |||||
| property | Motor vehicles | Equipment | Total | ||
| £ | £ | £ | £ | ||
| Cost | |||||
| At 1 April 2021 | 378,000 | 7,200 | 72,522 | 457,722 | |
| Additions | – | 19,500 | – | 19,500 | |
| Disposals | – | (7,200) | – | (7,200) | |
| ---------------------------------- | ----------------------------- | ----------------------------- | ---------------------------------- | ||
| At 31 March 2022 | 378,000 | 19,500 | 72,522 | 470,022 | |
| ================================== | ============================= | ============================= | ================================== | ||
| Depreciation | |||||
| At 1 April 2021 | 378,000 | 6,720 | 71,030 | 455,750 | |
| Charge for the year | – | 3,490 | 1,492 | 4,982 | |
| Disposals | – | (6,960) | – | (6,960) | |
| ---------------------------------- | ----------------------------- | ----------------------------- | ---------------------------------- | ||
| At 31 March 2022 | 378,000 | 3,250 | 72,522 | 453,772 | |
| ================================== | ============================= | ============================= | ================================== | ||
| Carrying amount | |||||
| At 31 March 2022 | – | 16,250 | – | 16,250 | |
| ================================== | ============================= | ============================= | ================================== | ||
| At 31 March 2021 | – | 480 | 1,492 | 1,972 | |
| ================================== | ============================= | ============================= | ================================== | ||
| INVESTMENTS | |||||
| Shares in | |||||
| Cash or cash | Listed | Investment | group | ||
| equivalents | investments | properties | undertakings | Total | |
| £ | £ | £ | £ | £ | |
| Cost or valuation | |||||
| At 1 April 2021 | 6,175 | 326,202 | 121,197 | 2 | 453,576 |
| Additions | – | 53,791 | – | – | 53,791 |
| Disposals | – | (54,481) | – |
– | (54,481) |
| Other movements | 3,419 | 9,294 | – | – | 12,713 |
| ------------------------ | ---------------------------------- | ---------------------------------- | --------------- | ---------------------------------- | |
| At 31 March 2022 | 9,594 | 334,806 | 121,197 | 2 | 465,599 |
| ======================== | ================================== | ================================== | =============== | ================================== | |
| Impairment | |||||
| At 1 April 2021 and | |||||
| 31 March 2022 | – | – | |||
| =============== | ================================== | ||||
| Carrying amount | |||||
| At 31 March 2022 | 9,594 | 334,806 | 121,197 | 2 | 465,599 |
| ======================== | ================================== | ================================== | =============== | ================================== | |
| At 31 March 2021 | 6,175 | 326,202 | 121,197 | 2 | 453,576 |
| ======================== | ================================== | ================================== | =============== | ================================== |
22. INVESTMENTS
All investments shown above are held at valuation.
- 27 -
Age UK Carlisle And Eden
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2022
22. INVESTMENTS (continued)
Investment properties
The trustees do not believe the value of the investment property addition has altered significantly since it was bought by the charity in 2016. The trustees believe that the existing investment property (transferred from tangible fixed assets on transition to FRS102) is equivalent to its carrying amount prior to transfer as the property is on a short lease and considering the state of repair the trustees believe the value of the property will only depreciate. The fair value is not based on a valuation by an independent valuer.
Financial assets held at fair value
Listed investments are valued at fair value, being their market value at the balance sheet date. All remaining investments (excluding investment property) are held at cost.
Investments in group undertakings
The parent charity has an investment in Age UK Carlisle & Eden Enterprises Limited as the sole shareholder. In December 2017, Age UK Carlisle & Eden Enterprises Limited ceased to trade and has been a dormant company throughout the year to 31 March 2022. The company is limited by shares and incorporated in England & Wales, it's registered office is 20 Spencer Street, Carlisle, Cumbria, CA1 1BG.
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Aggregate Capital & Reserves at 31st March | (3,687) | (3,687) | |
| Liabilities at 31st March | 3,687 | 3,687 | |
| 23. | STOCKS | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Raw materials and consumables | 1,990 | 1,043 | |
| ======================== | ======================== | ||
| 24. | DEBTORS | ||
| 2022 | 2021 | ||
| £ | £ | ||
| Trade debtors | 5,611 | 17,313 | |
| Prepayments and accrued income | 12,690 | 17,176 | |
| Other debtors | 1,263 | 11,500 | |
| ----------------------------- | ----------------------------- | ||
| 19,564 | 45,989 | ||
| ============================= | ============================= |
- 28 -
Age UK Carlisle And Eden
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2022
25. CREDITORS: amounts falling due within one year
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Trade creditors | 16,445 | 7,776 |
| Accruals and deferred income | 33,078 | 71,817 |
| Obligations under finance leases and hire purchase contracts | 1,278 | 1,787 |
| Other creditors | 24,444 | 24,198 |
| ----------------------------- | ---------------------------------- | |
| 75,245 | 105,578 | |
| ============================= | ================================== |
Included in accruals and deferred income as stated above are receipts in advance which are deferred and released in future periods.
26. CREDITORS: amounts falling due after more than one year
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Obligations under finance leases and hire purchase contracts | – | 1,278 |
| =============== | ======================== |
27. FINANCE LEASES AND HIRE PURCHASE CONTRACTS
The total future minimum lease payments under finance leases and hire purchase contracts are as follows:
| 2022 | 2021 | ||
|---|---|---|---|
| £ | £ | ||
| Not later than 1 year | 1,326 | 1,990 | |
| Later than 1 year and not later than 5 years | – | 1,326 | |
| ------------------------ | ------------------------ | ||
| 1,326 | 3,316 | ||
| Less: future finance charges | (48) | (251) | |
| ------------------------ | ------------------------ | ||
| Present value of minimum lease payments | 1,278 | 3,065 | |
| ======================== | ======================== | ||
| 28. | DEFERRED INCOME | ||
| 2022 | 2021 | ||
| £ | £ | ||
| At 1 April 2021 | 31,625 | 25,750 | |
| Amount released to income | (31,625) | (24,125) | |
| Amount deferred in year | – | 30,000 | |
| ----------------------------- | ----------------------------- | ||
| At 31 March 2022 | – | 31,625 | |
| ============================= | ============================= |
Deferred income relates to funding income received in advance of providing the services for which they have been paid.
- 29 -
Age UK Carlisle And Eden
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2022
29. PENSIONS AND OTHER POST RETIREMENT BENEFITS
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £10,343 (2021: £8,392).
30. GOVERNMENT GRANTS
The amounts recognised in the financial statements for government grants are as follows:
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Recognised in income from donations and legacies: | ||
| Government grants income | 15,578 | 320,401 |
| ============================= | ================================== |
Government grants income above includes the following; £2,244 (2021: £120,887) relates to the coronavirus job retention scheme and £13,334 (2021: £199,514) relates to various local authority discretionary grants relating to Coronavirus for the charity's various premises.
31. ANALYSIS OF CHARITABLE FUNDS
Unrestricted funds
| Unrestricted funds | ||||||
|---|---|---|---|---|---|---|
| At | Gains and | At | ||||
| 1 Apr 2021 | Income | Expenditure | Transfers | losses | 31 Mar 2022 | |
| £ | £ | £ | £ | £ | £ | |
| General funds | 841,574 | 406,604 | (493,790) | – | (2,741) | 751,647 |
| Brewin Dolphin | ||||||
| Investment Fund | 293,373 | 71 | (2,964) | – | 17,657 | 308,137 |
| Repairs and | ||||||
| Renewals Fund | 8,449 | – | – | – | – | 8,449 |
| Computer | ||||||
| Equipment Fund | 9,583 | – | – | – | – | 9,583 |
| -------------------------------------------- | ---------------------------------- | ---------------------------------- | --------------- | ----------------------------- | -------------------------------------------- | |
| 1,152,979 | 406,675 | (496,754) | – | 14,916 | 1,077,816 | |
| ============================================ | ================================== | ================================== | =============== | ============================= | ============================================ | |
| At | Gains and | At | ||||
| 1 Apr 2020 | Income | Expenditure | Transfers | losses | 31 Mar 2021 | |
| £ | £ | £ | £ | £ | £ | |
| General funds | 678,325 | 638,256 | (481,880) | 4,923 | 1,950 | 841,574 |
| Brewin Dolphin | ||||||
| Investment Fund | 234,120 | 2,188 | (2,498) | – | 59,563 | 293,373 |
| Repairs and | ||||||
| Renewals Fund | 8,449 | – | – | – | – | 8,449 |
| Computer | ||||||
| Equipment Fund | 9,583 | – | – | – | – | 9,583 |
| ---------------------------------- | ---------------------------------- | ---------------------------------- | ------------------------ | ----------------------------- | -------------------------------------------- | |
| 930,477 | 640,444 | (484,378) | 4,923 | 61,513 | 1,152,979 | |
| ================================== | ================================== | ================================== | ======================== | ============================= | ============================================ |
- 30 -
Age UK Carlisle And Eden
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2022
31. ANALYSIS OF CHARITABLE FUNDS (continued)
The Brewin Dolphin Investment Fund unrestricted fund records movements in the fair value of the investment portfolio held and the investment management fees.
The charity has two designated funds; the Repairs and Renewals Fund and the Computer Equipment Fund, the trustees did not wish to revise the amounts designated for future expenditure.
Restricted funds
| Restricted funds | ||||||
|---|---|---|---|---|---|---|
| At | Gains and | At | ||||
| 1 Apr 2021 | Income | Expenditure | Transfers | losses | 31 Mar 2022 | |
| £ | £ | £ | £ | £ | £ | |
| CCF Pappagallino | ||||||
| fund | – | 30,000 | (30,000) | – | – | – |
| Armed Forces | ||||||
| Covenant | – | 250 | (250) | – | – | – |
| Cumbria | ||||||
| Community | ||||||
| Foundation | – | 4,161 | (4,161) | – | – | – |
| Terry Bequest - | ||||||
| Cottage purchase | 121,197 | – | – | – | – | 121,197 |
| Terry Bequest | ||||||
| Reserve | 169,509 | – | (5,572) | – | – | 163,937 |
| Fall Prevention - | ||||||
| Carlisle | 20,250 | – | (20,250) | – | – | – |
| People's Postcode | ||||||
| Trust | – | 1,625 | (1,625) | – | – | – |
| Lottery - P.A.L | – | 1,875 | (1,875) | – | – | – |
| CCF/NHS - Well at | ||||||
| Home | – | 78,403 | (19,842) | – | – | 58,561 |
| CC Fund - Friends | ||||||
| Together | – | 6,500 | (3,250) | – | – | 3,250 |
| HSBC G.R.O.W. | ||||||
| Social inclusion | – | 7,780 | (5,719) | – | – | 2,061 |
| CVS - Health and | ||||||
| Welfare calls | – | 15,000 | (15,000) | – | – | – |
| Henry Lonsdale | ||||||
| Charitable Trust | – | 29,131 | (21,830) | – | – | 7,301 |
| Age UK - Building | ||||||
| Better Lives | – | 22,500 | (22,500) | – | – | – |
| Covid Restart | ||||||
| Grants | – | 13,334 | (13,334) | – | – | – |
| Sports England | – | 6,600 | (2,000) | – | – | 4,600 |
| CCF - Tea in the | ||||||
| park | – | 1,500 | (35) | – | – | 1,465 |
| CCC - Carlisle | ||||||
| Healthy Ageing City | ||||||
| Project | – | 4,400 | – | – | – | 4,400 |
| ---------------------------------- | ---------------------------------- | ---------------------------------- | --------------- | --------------- | ---------------------------------- | |
| 310,956 | 223,059 | (167,243) | – | – | 366,772 | |
| ================================== | ================================== | ================================== | =============== | =============== | ================================== |
- 31 -
Age UK Carlisle And Eden
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2022
31. ANALYSIS OF CHARITABLE FUNDS
| At | Gains and | At | ||||
|---|---|---|---|---|---|---|
| 1 Apr 2020 | Income | Expenditure | Transfers | losses | 31 Mar 2021 | |
| £ | £ | £ | £ | £ | £ | |
| CCF Pappagallino | ||||||
| fund | – | 10,000 | (10,000) | – | – | – |
| Armed Forces | ||||||
| Covenant | – | 9,753 | (9,753) | – | – | – |
| Cumbria | ||||||
| Community | ||||||
| Foundation | 125 | 4,798 | – | (4,923) | – | – |
| Terry Bequest - | ||||||
| Cottage purchase | 121,197 | – | – | – | – | 121,197 |
| Terry Bequest | ||||||
| Reserve | 169,509 | – | – | – | – | 169,509 |
| CCF Winter | ||||||
| Resilience | – | 18,000 | (18,000) | – | – | – |
| Fall Prevention - | ||||||
| Carlisle | – | 27,000 | (6,750) | – | – | 20,250 |
| No Place Like | ||||||
| Home - Carlisle | – | 6,980 | (6,980) | – | – | – |
| No Place Like | ||||||
| Home - Penrith | – | 6,980 | (6,980) | – | – | – |
| People's Postcode | ||||||
| Trust | – | 9,750 | (9,750) | – | – | – |
| Lottery - P.A.L | – | 24,375 | (24,375) | – | – | – |
| Home Support | – | 10,000 | (10,000) | – | – | – |
| ---------------------------------- | ---------------------------------- | ---------------------------------- | ------------------------ | --------------- | ---------------------------------- | |
| 290,831 | 127,636 | (102,588) | (4,923) | – | 310,956 | |
| ================================== | ================================== | ================================== | ======================== | =============== | ================================== |
The Cumbria Community Foundation restricted fund relates to the Winter Warmth commission received for administering the grant on behalf of CCF.
The Terry Bequest has been used to purchase a property. Income from this property can be used for unrestricted purposes. The expenditure on these funds relates to impairment and repair work covered under the terms of the legacy. The Terry Bequest Reserve fund is held for a future property purchase and repairs.
The CCF Pappagallino Fund, Armed Forces Covenant, CCF Winter Resilience, Fall Prevention, No Place Like Home, People's Postcode Trust, Lottery P.A.L., CVS Health and Welface Calls, Age UK and Home Support funds relate to monies received and expenses related to the services provided under the grant terms.
The CCF/NHS Well at Home, CC Fund - Friends together, HSBC G.R.O.W. Social inclusion and CCF Tea in the Park funds are held in relation to services not yet fully provided.
The Henry Lonsdale Charitable Trust funds relate to the provision of information and advice to elderly people and runs to June 2022. Sports England funds are to be used to run 10 events by December 2022.
Carlisle Healthy Aging City Project Funds are to be spent compiling a bid for "Healthy Aging City" status.
The Covid Restart grants were received for the various charity shops and have helped fund running costs.
- 32 -
Age UK Carlisle And Eden
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2022
32. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Unrestricted | Restricted | Total Funds | ||
|---|---|---|---|---|
| Funds | Funds | 2022 | ||
| £ | £ | £ | ||
| Tangible fixed assets | 16,250 | – | 16,250 | |
| Investments | 344,402 | 121,197 | 465,599 | |
| Current assets | 792,409 | 245,575 | 1,037,984 | |
| Creditors less than 1 year | (75,245) | – | (75,245) | |
| Creditors greater than 1 year | – | – | – | |
| -------------------------------------------- | ---------------------------------- | -------------------------------------------- | ||
| Net assets | 1,077,816 | 366,772 | 1,444,588 | |
| ============================================ | ================================== | ============================================ | ||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2021 | ||
| £ | £ | £ | ||
| Tangible fixed assets | 1,972 | – | 1,972 | |
| Investments | 332,379 | 121,197 | 453,576 | |
| Current assets | 925,484 | 189,759 | 1,115,243 | |
| Creditors less than 1 year | (105,578) | – | (105,578) | |
| Creditors greater than 1 year | (1,278) | – | (1,278) | |
| -------------------------------------------- | ---------------------------------- | -------------------------------------------- | ||
| Net assets | 1,152,979 | 310,956 | 1,463,935 | |
| ============================================ | ================================== | ============================================ | ||
| 33. | FINANCIAL INSTRUMENTS | |||
| The carrying amount for each category of financial instrument is as follows: | ||||
| 2022 | 2021 | |||
| £ | £ | |||
| Financial assets measured at fair value through income and expenditure | ||||
| Listed investments | 334,806 | 326,202 | ||
| ================================== | ================================== | |||
| 34. | ANALYSIS OF CHANGES IN NET DEBT |
| At | |||
|---|---|---|---|
| At 1 Apr 2021 | Cash flows | 31 Mar 2022 | |
| £ | £ | £ | |
| Cash at bank and in hand | 1,068,211 | (51,781) | 1,016,430 |
| Cash and cash equivalents with fixed asset investments | 6,175 | 3,419 | 9,594 |
| Debt due within one year | (1,787) | 509 | (1,278) |
| Debt due after one year | (1,278) | 1,278 | – |
| -------------------------------------------- | ----------------------------- | -------------------------------------------- | |
| 1,071,321 | (46,575) | 1,024,746 | |
| ============================================ | ============================= | ============================================ |
- 33 -
Age UK Carlisle And Eden
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2022
35. OPERATING LEASE COMMITMENTS
The total future minimum lease payments under non-cancellable operating leases are as follows:
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Not later than 1 year | 35,465 | 47,132 |
| Later than 1 year and not later than 5 years | 10,736 | 35,101 |
| Later than 5 years | 96,500 | 97,700 |
| ---------------------------------- | ---------------------------------- | |
| 142,701 | 179,933 | |
| ================================== | ================================== |
36. CONTINGENCIES
Contingent liabilities:
Prior to 1 April 2009 former employees of Age Concern Eden participated in a defined contributory pension scheme through the Pensions Trust, one part of which gives certain guarantees to members. The transfer of employees to Age UK Carlisle and Eden meant membership of the Pension Trust Scheme terminated and triggered a liability to the scheme equal to the full buy out cost for employees affected. Age Concern Eden paid £11,238 to cover the technical deficit. The residual liability, estimated by independent actuaries at £34,151 in September 2009, is guaranteed by Age UK Carlisle and Eden. The residual liability will vary according to the value of the Pension Trust fund assets and residual liabilities.
37. POST BALANCE SHEET EVENTS
The charity's investment portfolios have suffered large decreases in values. The latest available valuation showed the value had dropped to £308,000 down from £357,000 at the year end, this is a reduction of £49,000 since the year end. However the trustees believe further decreases will have occurred since the most recent valuation dates.
38. RELATED PARTIES
The Charity has a trading subsidiary company, Age UK Carlisle & Eden Enterprises Limited, company number 05416847, registered in England and Wales. The subsidiary is now dormant.
At the year end, the charity owed £400 to one trustee for bookkeeping and finance advice (2021: £nil)
- 34 -