**Charity Registration Number: 1128910** 

**Company Registration Number: 06746629** 

**CARERS TOGETHER FOUNDATION (A Company Limited by Guarantee)** 

## **REPORTS AND UNAUDITED FINANCIAL STATEMENTS** 

**FOR THE YEAR ENDED 31 MARCH 2023** 



## **CARERS TOGETHER FOUNDATION (A Company Limited by Guarantee)** 

## **REPORTS AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** 

||**Pages**|
|---|---|
|**Trustees’ Annual Report (including Directors’ Report)**|1 to 4|
|**Independent Examiner’s Report**|5|
|**Statement of Financial Activities/Summary Income and Expenditure Account**|6|
|**Balance Sheet**|7|
|**Statement of Cash Flows**|8|
|**Notes to the Financial Statements**|9 to 19|





**Page 1** 

## **CARERS TOGETHER FOUNDATION (A Company Limited by Guarantee)** 

## **TRUSTEES’ ANNUAL REPORT (INCLUDING DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 MARCH 2023** 

The trustees have pleasure in presenting their report and the unaudited financial statements of the charitable company (‘the charity’) for the year ended 31 March 2023. 

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 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’, published in October 2019. 

## **Trustees of the Charity** 

The directors of the charitable company are its trustees for the purposes of charity law.  Details of trustees who have served during the year and since the year end can be found on page 4. 

## **OBJECTIVES AND ACTIVITIES** 

Carers Together’s vision is ‘Enabling carers to have the best possible lives, now and in the future’ and we work to achieve this by informing, supporting and representing carers living in Redcar & Cleveland, Middlesbrough and the surrounding area.  We have a Board of five trustees, who are also directors (one of whom is a carer) and a team of paid staff and volunteers. 

Our aims are: 

- Give expert advice, information, and support; 

- Connect carers to other carers and the wider community; 

- Advocate for carers rights; 

- Enable carers to have their voices heard; 

- Promote the health and wellbeing of carers. 

The objects of the charity over the year were to promote any charitable purpose for the benefit of the elderly, sick or people with a disability, living or located within the borough of Redcar & Cleveland, or such other area as the trustees may from time to time decide and, in particular, the relief of need and hardship, by providing support, advice and information to those responsible for their care, to improve the quality of their lives. 

The trustees have complied with their duty to have due regard to public benefit in exercising their powers and in ensuring the delivery of Carers Together’s services. 

## **ACHIEVEMENTS AND PERFORMANCE** 

In 2022/2023, Carers Together has continued to increase the range and quality of the information and support services we provide for carers, as well as the number of opportunities for carers to influence the delivery and development of services that affect them and the people they care for. 

Carers who have been supported by our services have reported an improvement in their health and wellbeing, their finances, their relationships and social networks and they feel more informed and supported, as well as recognised and valued. 

## **Over the past 12 months we have:** 

- Successfully completed the first year of two new local authority contracts to deliver a generic carers information and support service and a hospital based carers information and support service across South Tees. 

- Continued to develop our work with Parent Carers and local Parent Carer Forums. 

- Continued to provide a diverse range of activities which have been supported through various funders. 

- Provided information and practical, emotional and social support to 1,973 carers, individually and in groups. 

- Identified 795 new carers who are now registered with our organisation. 

- Provided a Counselling service for 121 carers. 



**Page 2** 

## **CARERS TOGETHER FOUNDATION (A Company Limited by Guarantee)** 

## **TRUSTEES’ ANNUAL REPORT (INCLUDING DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 MARCH 2023** 

## **ACHIEVEMENTS AND PERFORMANCE (Continued)** 

- Recruited, trained and supported four new volunteers through our Volunteering and Engagement project. 

- Facilitated 256 carers group sessions, an average of 21 per month, and in localities across South Tees. 

- Worked with other organisations within the “South Tees Carers Forum” to identify and support “hidden” carers in Redcar & Cleveland and Middlesbrough. 

- Continued to develop “Carers’ Voices” which aims to support carers to become more involved in the way services are delivered.  Carers are encouraged to input their experience from a carer’s perspective into Carers Together services and external services. 

- Delivered carer awareness information and training sessions for carers, the public, and health and social care professionals. 

- Started to develop specialist support for carers who are experiencing bereavement, grief and/or loss. 

- Launched the “Next Steps” Transitions service with The Junction Foundation.  This service is a specialist support service for young adult carers aged 15-25. 

- Reviewed and updated our Vision, Mission, Values and Objectives. 

- • Improved digital access to the service for carers and professionals. 

## **FINANCIAL REVIEW** 

The results for the year and financial position at the year end are shown in the annexed financial statements. 

## **Reserves Policy** 

The trustees aim to expend all funds on their charitable objects but recognise the need to maintain a certain level of reserves as a cushion against possible future funding and/or operational difficulties.  In that almost all of the charitable company’s income and expenditure is currently by way of restricted funding, any minimum reserve level by reference to unrestricted funding will be fairly minimal and the trustees estimate that cash-backed unrestricted funds of circa £15-20,000 would be satisfactory for this purpose. 

Additionally, having regard to their internal reserves policy and the current financial climate, the trustees consider it prudent to ringfence further unrestricted reserves to enable the charity to continue its core activities in the event of a downturn in restricted funding and until alternative funding sources are secured.  This additional level of unrestricted reserves is currently estimated at circa £145-155,000. 

The above combined minimum level of unrestricted reserves was achieved at 31 March 2023. 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **Governing Document** 

Carers Together Foundation is a company limited by guarantee incorporated on 11 November 2008, and a registered charity, governed by its constitution, which was adopted on 29 October 2002 and amended on 29 January 2003, 2 March 2009 and 26 March 2013. 

In the event of the company being wound up, members are required to contribute an amount not exceeding £10. 

## **Appointment of Trustees** 

Under the terms of the Memorandum and Articles of Association, one-third of the trustees are required to stand down each year, according to their length of service on the Board.  New trustees are appointed by the Board. 

## **Trustee Induction and Training** 

All trustees complete a programme of induction into the organisation, delivered by the Chair and the Chief Executive.  This includes information about their roles and responsibilities and the organisation’s policies and procedures.  Trustees complete individual self-assessments and annual appraisals, which identify any training needs, and there is an annual bespoke training session for all trustees.  In-house training is also provided at the end of Board meetings. 



**Page 3** 

## **CARERS TOGETHER FOUNDATION (A Company Limited by Guarantee)** 

## **TRUSTEES’ ANNUAL REPORT (INCLUDING DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 MARCH 2023** 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT (Continued)** 

## **Related Parties** 

Other than as disclosed in notes 5 and 16 to the financial statements, there were no reportable related party transactions during the year under review. 

## **Pay Policy for Senior Staff** 

The board of directors are also the charity’s trustees and, along with the Chief Executive, are the key management personnel responsible for directing and operating the charity on a day-to-day basis.  All directors give their time and expertise freely and no director received remuneration in the year. 

The pay of the senior staff is reviewed annually and is normally increased in accordance with pay settlements agreed nationally by the Joint Negotiating Committee, which endorses professional qualifications for Youth and Community workers and negotiates their employment conditions.  The trustees also benchmark against pay levels in other voluntary sector organisations of a similar size operating in the North East region. 

## **Risk Management** 

The trustees have conducted a review of the major risks to which the charity is exposed.  External risks to funding can only be reduced by allowing for diversification of funding and activities.  Internal risks are minimised by the implementation of procedures for authorisation of all transactions and projects and to ensure consistent quality of delivery for all operational aspects of the charity.  These procedures are periodically reviewed to ensure that they still meet the needs of the charity. 

## **PLANS FOR FUTURE PERIODS** 

Carers Together is committed to meeting its objects as defined in the Memorandum and Articles of Association. 

During the coming year we will focus our activities on: 

- Maintaining and expanding our range of good quality information and support services for carers across the South Tees area. 

- Identifying ‘hidden’ carers by raising awareness of carers’ needs and of our services, with carers, professionals, employers and the public. 

- Ensuring that we deliver on our contractual obligations. 

- Working in partnership with other organisations to improve outcomes for carers, at strategic and operational levels. 

- Providing a range of carer engagement activities. 

- Offering a variety of volunteering opportunities, with appropriate training and support. 

- Developing the skills and expertise of Carers Together’s staff and volunteers. 

- Building capacity, knowledge and skills within the Board of Trustees. 

- Maximising the use of our resources. 

- Maintaining a culture and process of continuous improvement. 

- • Ensuring the future sustainability of our organisation. 



**Page 4** 

## **CARERS TOGETHER FOUNDATION (A Company Limited by Guarantee)** 

## **TRUSTEES’ ANNUAL REPORT (INCLUDING DIRECTORS’ REPORT) FOR THE YEAR ENDED 31 MARCH 2023** 

## **LEGAL AND ADMINISTRATIVE INFORMATION** 

|**Registered Charity Name:**|Carers Together Foundation|
|---|---|
|**Charity Registration Number:**|1128910|
|**Company Registration Number:**|06746629|
|**Governing Document:**|Memorandum and Articles of Association|
|**Registered Office:**|Innovation Centre|
||Vienna Court|
||Kirkleatham Business Park|
||Redcar|
||TS10 5SH|
|**Directors/Trustees:**|Mr W Mogg|
||Dr R Parkin|
||Mrs D Masterman|
||Mrs S Renvoize|
||Mrs V Ononeze|
|**Company Secretary:**|Mr L O’Brien|
|**Chief Executive:**|Mr L O’Brien|
|**Independent Examiner:**|Mr J Lester FCA|
||Baines Jewitt Limited|
||Chartered Accountants|
||Spitfire House|
||19 Falcon Court|
||Preston Farm Industrial Estate|
||Stockton-on-Tees|
||TS18 3TU|
|**Bankers:**|HSBC Bank plc|
||2 West Dyke Road|
||Redcar|
||TS10 1EA|
|**Solicitors:**|Womble Bond Dickinson|
||The Spark|
||Draymans Way|
||Newcastle Helix|
||Newcastle Upon Tyne|
||NE4 5DE|



This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. 

## **Approval** 

This report was approved by the directors/trustees on 7 December 2023 and signed on their behalf by: 

## **Mrs D Masterman** 

**Director/Chair of Trustees** 



**Page 5** 

**INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF CARERS TOGETHER FOUNDATION** 

I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2023 which are set out on pages 6 to 19. 

## **Responsibilities and Basis of Report** 

As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’). 

Having satisfied myself that the accounts of the 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 company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’).  In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. 

## **Independent Examiner’s Statement** 

Since the 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 (ICAEW), which is one of the listed bodies. 

I have completed my 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: 

1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or 

2. the accounts do not accord with those records; or 

3. the accounts do not comply with the accounting requirements of section 396 of 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 

4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 

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 accounts to be reached. 

**J Lester FCA Baines Jewitt Limited Chartered Accountants Spitfire House 19 Falcon Court Preston Farm Industrial Estate Stockton-on-Tees TS18 3TU** 

**Dated: 7 December 2023** 

**JL/AJW** 



**Page 6** 

## **CARERS TOGETHER FOUNDATION (A Company Limited by Guarantee)** 

## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023 (including Summary Income and Expenditure Account)** 

|||**Unrestricted Funds**|**Unrestricted Funds**|**Restricted Funds**|**Restricted Funds**|**Total**|**Funds**|
|---|---|---|---|---|---|---|---|
||**Notes**|**2023**|2022|**2023**|2022|**2023**|2022|
|||**£**|£|**£**|£|**£**|£|
|**INCOME**||||||||
|Donations and legacies|**2(a)**|**71,747**|6,317|**-**|**-**|**71,747**|6,317|
|Income from charitable activities|**2(b)**|**9,428**|7,000|**584,966**|636,474|**594,394**|643,474|
|Investment income|**2(c)**|**290**|1|**-**|-|**290**|1|
|Other income||**681**|312|**-**|-|**681**|312|
|||**________**|**________**|**__________**|**__________**|**__________**|**__________**|
|**TOTAL INCOME**||**82,146**|13,630|**584,966**|636,474|**667,112**|650,104|
|||**=======**|**=======**|**=========**|**=========**|**=========**|**=========**|
|**EXPENDITURE**||||||||
|Charitable Activities|**3**|**661**|6,435|**573,833**|576,425|**574,494**|582,860|
|||**_______**|**_______**|**__________**|**__________**|**__________**|**__________**|
|**TOTAL EXPENDITURE**||**661**|6,435|**573,833**|576,425|**574,494**|582,860|
|||**======**|**======**|**=========**|**=========**|**=========**|**=========**|
|**Net Income/(Expenditure)**|**6**|**81,485**|7,195|**11,133**|60,049|**92,618**|67,244|
|**Transfers between Funds**|**10**|**16,557**|5,844|**(16,557)**|(5,844)|**-**|-|
|||**________**|**________**|**_________**|**_________**|**_________**|**_________**|
|**Net Movement in Funds**||**98,042**|13,039|**(5,424)**|54,205|**92,618**|67,244|
|**Reconciliation of Funds:**||||||||
|Total funds brought forward|**10**|**195,559**|182,520|**230,184**|175,979|**425,743**|358,499|
|||**__________**|**__________**|**__________**|**__________**|**__________**|**__________**|
|**Total Funds Carried Forward**|**10&11**|**293,601**|195,559|**224,760**|230,184|**518,361**|425,743|
|||**=========**|**=========**|**=========**|**=========**|**=========**|**=========**|



The Statement of Financial Activities includes all gains and losses recognised in the year. 

All incoming resources and resources expended derive from continuing activities. 

The notes on pages 9 to 19 form part of these financial statements 



**Page 7** 

## **CARERS TOGETHER FOUNDATION Company Registration Number: 06746629 (A Company Limited by Guarantee)** 

## **BALANCE SHEET AS AT 31 MARCH 2023** 

||**Notes**||**2023**||2022|
|---|---|---|---|---|---|
|||**£**|**£**|£|£|
|**FIXED ASSETS**||||||
|Tangible assets|**7**||**15,946**||4,964|
|**CURRENT ASSETS**||||||
|Debtors|**8**|**38,094**||22,941||
|Cash at bank and in hand||**496,910**||446,887||
|||**___________**||**___________**||
|||**535,004**||469,828||
|**CREDITORS: Amounts falling due**||||||
|**within one year**|**9**|**(32,589)**||(49,049)||
|||**___________**||**___________**||
|**NET CURRENT ASSETS**|||**502,415**||420,779|
||||**___________**||**___________**|
|**NET ASSETS**|||**518,361**||425,743|
||||**==========**||**==========**|
|**REPRESENTED BY:**||||||
|**FUNDS**||||||
|Unrestricted|**10&11**||**293,601**||195,559|
|Restricted|**10&11**||**224,760**||230,184|
||||**___________**||**___________**|
|**TOTAL FUNDS**|||**518,361**||425,743|
||||**==========**||**==========**|



The directors/trustees are satisfied that the charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023. 

The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006. 

The directors/trustees acknowledge their responsibilities for: 

- (i) ensuring that the charitable company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006; and 

- (ii) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of the financial year and of its profit or loss for the financial year in accordance with the requirements of Sections 394 and 395, and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as are applicable to the charitable company. 

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. 

These financial statements were approved by the directors/trustees on 7 December 2023 and signed on their behalf by: 

**Mrs D Masterman Director/Chair of Trustees** 

**Mr W Mogg Director/Trustee** 

The notes on pages 9 to 19 for part of these financial statements 



**Page 8** 

## **CARERS TOGETHER FOUNDATION (A Company Limited by Guarantee)** 

## **STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023** 

||**Notes**|**2023**|2022|
|---|---|---|---|
|||**£**|£|
|Cash inflow from operating activities|**17**|**61,721**|92,356|
|||**-------------**|**-------------**|
|Cash flow from investing activities:||||
|Interest receivable||**290**|1|
|Purchase of tangible fixed assets||**(13,988)**|-|
|Sale proceeds of tangible fixed assets||**2,000**|-|
|||**_________**|**_______**|
|Net cash inflow/(outflow) from investing activities||**(11,698)**|1|
|||**-------------**|**-----------**|
|**Increase in cash and cash equivalents in year**||**50,023**|92,357|
|**Cash and cash equivalents at the beginning of the year**||**446,887**|354,530|
|||**___________**|**___________**|
|**Total cash and cash equivalents at the end of the year**||**496,910**|446,887|
|||**==========**|**==========**|
|**Cash and cash equivalents consist of:**||||
|**Cash at bank and in hand**||**496,910**|446,887|
|||**==========**|**==========**|



The notes on pages 9 to 19 for part of these financial statements 



**Page 9** 

**CARERS TOGETHER FOUNDATION (A Company Limited by Guarantee)** 

## **NOTES TO THE UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** 

## **1 ACCOUNTING POLICIES** 

## **a) General Information and Basis of preparation** 

Carers Together Foundation is a private company, limited by guarantee, registered in England on 11 November 2008.  In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity.  The address of the registered office is given in the charity information on page 4 of these financial statements.  The nature of the charity’s operation and principal activities is the provision of information and support to carers. 

The charity constitutes a public benefit entity as defined by FRS 102.  The financial statements have been prepared in accordance with ‘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, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice. 

The financial statements are prepared on a going concern basis under the historical cost convention.  The financial statements are presented in pounds sterling, which is the functional currency of the charity, and rounded to the nearest pound. 

The significant accounting policies applied in the preparation of these statements are set out below.  These policies have been consistently applied all year unless otherwise stated. 

## **b) Income Recognition** 

All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the income, after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. 

## **Grants and donations** 

- Where donors specify that grants and donations given to the charity must be used in future accounting periods, the income is deferred until those periods. 

- Where donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred and not included in incoming resources until the pre-conditions for use have been met. 

## **Contract performance income** 

This income is recognised when the performance conditions have been fully met or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period. 

## **Investment income** 

Investment income is included when receivable by the charity. 

## **Donated services and facilities** 

Donated services and facilities are recognised in income at their fair value when the economic benefit is probable, it can be measured reliably and the charity has control over the item.  Fair value is determined on the basis of the value of the gift to the charity (for example, the amount that the charity would be willing to pay in the open market for such facilities and services).  A corresponding amount is included in expenditure.  No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). 



**Page 10** 

## **CARERS TOGETHER FOUNDATION (A Company Limited by Guarantee)** 

## **NOTES TO THE UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** 

## **1 ACCOUNTING POLICIES** _**(Continued)**_ 

## **c) Resources Expended** 

Resources expended are accounted for on an accruals basis, inclusive of attributable VAT which cannot be recovered. 

Certain expenditure is directly attributable to specific activities and has been apportioned to the costs of those activities on a basis consistent with the use of resources. 

## **d) Termination Payments** 

Termination benefits are payable when employment is terminated before the normal retirement date, or whenever an employee accepts voluntary redundancy in exchange for these benefits.  The charity recognises termination benefits when it is demonstrably committed to either (i) terminating the employment of current employees according to a detailed formal plan without possibility of withdrawal, or (ii) providing termination benefits as a result of an offer made to encourage voluntary redundancy. 

## **e) Tangible Fixed Assets and Depreciation** 

Tangible fixed assets are included at cost less depreciation.  Depreciation is calculated so as to write off the cost of an asset over the estimated useful life of that asset as follows: 

Leasehold property 

- straight line over the term of the lease with effect from 1 April 2011.  Prior to 31 March 2011, depreciation was provided at a rate of 20% straight line.  All expenditure on leasehold property has been fully depreciated. 

Fixtures, fittings and equipment - 20% per annum straight line. 

## **f) 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. 

## **g) 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. 

## **h) 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. 

## **i) Fund Accounting** 

Funds held by the charity are either: 

- _**unrestricted funds**_ - these are funds which can be used in accordance with the objects of the charity at the discretion of the trustees.  They may include designated funds which have been set aside by the trustees for particular purposes. 

- _**restricted funds**_ - these are funds which can only be used for particular restricted purposes within the objects of the charity; whether it be for the purchase or construction of a fixed asset or in respect of a specific project. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.  Once the restrictions imposed by the provider of the grant/the donor have been observed, the fund is then transferred to unrestricted funds but designated where relating to a specific ongoing purpose. 



**Page 11** 

## **CARERS TOGETHER FOUNDATION (A Company Limited by Guarantee)** 

## **NOTES TO THE UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** 

## **1 ACCOUNTING POLICIES** _**(Continued)**_ 

## **j) Pension Costs** 

Contributions, which are payable into a defined contribution occupational pension scheme, are charged to the Statement of Financial Activities in the period to which they relate. 

## **k) Operating Leases** 

Rentals applicable to operating leases, where substantially all of the benefits and risks of ownership remain with the lessor, are charged against revenue on a straight line basis over the period of the lease. 

## **l) Financial Instruments** 

The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments.  Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.  Any losses arising from impairment are recognised in expenditure. 

## **m) Going Concern** 

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist.  The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements.  The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern. 



**Page 12** 

## **CARERS TOGETHER FOUNDATION (A Company Limited by Guarantee)** 

## **NOTES TO THE UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** 

## **2(a) INCOME FROM DONATIONS AND LEGACIES** 

||**Unrestricted**|**Funds**|**Restricted**|**Funds**|**Total**|**Funds**|
|---|---|---|---|---|---|---|
||**2023**|2022|**2023**|2022|**2023**|2022|
||**£**|£|**£**|£|**£**|£|
|Legacy|**69,934**|-|**-**|-|**69,934**|-|
|Donations|**1,813**|6,317|**-**|-|**1,813**|6,317|
||**------------**|-----------|**----------**|----------|**------------**|----------|
||**71,747**|6,317|**-**|-|**71,747**|6,317|
||**=======**|**======**|**======**|**======**|**=======**|**======**|



The charity benefits greatly from the involvement and enthusiastic support of its many volunteers.  In accordance with accounting standards, the economic contribution of general volunteers is not measured in the accounts. 

## **2(b) INCOME FROM CHARITABLE ACTIVITIES** 

||**Unrestricted**|**Funds**|**Restricted Funds**|**Restricted Funds**|**Total**|**Funds**|
|---|---|---|---|---|---|---|
||**2023**|2022|**2023**|2022|**2023**|2022|
||**£**|£|**£**|£|**£**|£|
|**Grant and Contract Performance Income:**|||||||
|Redcar & Cleveland Borough Council:|||||||
|Carers Information & Support Service|**-**|-|**163,489**|205,333|**163,489**|205,333|
|Carers Information & Support Service (Hospitals)|**-**|-|**74,721**|100,000|**74,721**|100,000|
|Hospital discharge funding|**-**|-|**20,000**|-|**20,000**|-|
|Crisis funding|**-**|-|**7,500**|-|**7,500**|-|
|Middlesbrough Borough Council:|||||||
|Carers Outreach Assessment & Support Service|**-**|-|**147,489**|173,000|**147,489**|173,000|
|Dementia friendly activities|**-**|-|**-**|1,500|**-**|1,500|
|Poverty insight interviews|**-**|-|**1,500**|-|**1,500**|-|
|Hospital discharge funding|**-**|-|**20,000**|-|**20,000**|-|
|Crisis funding|**-**|-|**7,500**|-|**7,500**|-|
|Welfare rights|**-**|-|**5,000**|-|**5,000**|-|
|COVID Re-enablement and counselling|**-**|-|**15,000**|36,500|**15,000**|36,500|
|National Lottery Community Fund|**-**|-|**68,967**|67,732|**68,967**|67,732|
|County Durham Community Foundation:|||||||
|Breaks for Carers|**-**|-|**-**|5,000|**-**|5,000|
|NHS England:|||||||
|Mind The Gap|**-**|-|**-**|10,000|**-**|10,000|
|Mind The Gap Transition|**-**|-|**-**|10,000|**-**|10,000|
|Parent Carers|**-**|-|**-**|5,759|**-**|5,759|
|Henry Smith:|||||||
|Parent Carers Worker Fund|**-**|-|**33,800**|16,650|**33,800**|16,650|
|Redcar & Cleveland Parent Carer Forum|**-**|7,000|**-**|-|**-**|7,000|
|Middlesbrough Voluntary Development Agency|||||||
|Welfare Rights|**-**|-|**-**|5,000|**-**|5,000|
|Leeds Community Foundation|**-**|-|**10,000**|-|**10,000**|-|
|County Durham Community Foundation|**-**|-|**10,000**|-|**10,000**|-|
|Smart Energy GB Community Fund|**9,428**|-|**-**|-|**9,428**|-|
||**________**|**_______**|**__________**|**__________**|**__________**|**__________**|
|**Total per Statement of Financial Activities**|**9,428**|7,000|**584,966**|636,474|**594,394**|643,474|
||**=======**|**======**|**=========**|**=========**|**=========**|**=========**|





**Page 13** 

## **CARERS TOGETHER FOUNDATION (A Company Limited by Guarantee)** 

## **NOTES TO THE UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** 

## **2(c) INVESTMENT INCOME** 

|**INVESTMENT INCOME**|||||||
|---|---|---|---|---|---|---|
||**Unrestricted**|**Funds**|**Restricted**|**Funds**|**Total**|**Funds**|
||**2023**|2022|**2023**|2022|**2023**|2022|
||**£**|£|**£**|£|**£**|£|
|Bank interest receivable|**23**|1|**-**|**-**|**23**|1|
|Other interest receivable|**267**|-|**-**|**-**|**267**|-|
||**--------**|--------|**--------**|**--------**|**--------**|--------|
||**290**|1|**-**|**-**|**290**|1|
||**=====**|**=====**|**=====**|**=====**|**=====**|**=====**|



## **3. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES** 

||**Unrestricted**|**Funds**|**Restricted Funds**|**Restricted Funds**|**Total**|**Funds**|
|---|---|---|---|---|---|---|
||**2023**|2022|**2023**|2022|**2023**|2022|
||**£**|£|**£**|£|**£**|£|
|Carers grants|**-**|-|**3,100**|-|**3,100**|**-**|
|Carers activities and counselling|**-**|(324)|**55,028**|56,429|**55,028**|56,105|
|Salaries and national insurance|**-**|7,612|**304,605**|337,392|**304,605**|345,004|
|Pension costs|**-**|-|**8,327**|8,974|**8,327**|8,974|
|Rent, rates and water|**1,079**|1,373|**37,476**|36,481|**38,555**|37,854|
|Insurance|**-**|-|**4,308**|3,740|**4,308**|3,740|
|Room hire and catering|**-**|-|**4,441**|3,516|**4,441**|3,516|
|Travel|**-**|(254)|**4,971**|5,280|**4,971**|5,026|
|Printing and postage|**-**|136|**5,861**|5,006|**5,861**|5,142|
|Telephone|**-**|-|**8,356**|4,677|**8,356**|4,677|
|Stationery|**-**|-|**627**|1,045|**627**|1,045|
|Miscellaneous|**-**|(7)|**3,444**|2,328|**3,444**|2,321|
|Depreciation|**-**|-|**2,640**|3,933|**2,640**|3,933|
|Profit on disposal of fixed assets|**(1,734)**|-|**-**|-|**(1,734)**|-|
|Consultancy|**-**|-|**-**|5,303|**-**|5,303|
|Support costs - see note 4|**1,316**|(2,101)|**120,183**|84,097|**121,499**|81,996|
|Governance costs - see note 4|**-**|-|**10,466**|18,224|**10,466**|18,224|
||**_______**|**_______**|**__________**|**__________**|**__________**|**__________**|
||**661**|6,435|**573,833**|576,425|**574,494**|582,860|
||**======**|**=======**|**=========**|**=========**|**=========**|**=========**|



## **4. ANALYSIS OF SUPPORT AND GOVERNANCE COSTS** 

||**Basis of**|**Support Costs**|**Support Costs**|**Governance Costs**|**Governance Costs**|**Total**|**Costs**|
|---|---|---|---|---|---|---|---|
||**Apportionment**|**2023**|2022|**2023**|2022|**2023**|2022|
|||**£**|£|**£**|£|**£**|£|
|Salaries and national insurance|Staff role|**84,706**|50,463|**-**|-|**84,706**|50,463|
|Pension costs|Staff role|**2,308**|1,165|**-**|-|**2,308**|1,165|
|Rent, rates and water|Staff time|**4,284**|4,206|**-**|-|**4,284**|4,206|
|Insurance|Staff time|**479**|416|**-**|-|**479**|416|
|Training|Direct|**3,611**|5,107|**-**|-|**3,611**|5,107|
|Printing and postage|Staff time|**279**|571|**-**|-|**279**|571|
|Telephone|Staff time|**928**|520|**-**|-|**928**|520|
|Stationery|Staff time|**70**|116|**-**|-|**70**|116|
|Equipment maintenance and|Direct|**12,272**|9,234|**-**|-|**12,272**|9,234|
|promotional||||||||
|Repairs, Health & Safety|Direct|**1,894**|120|**-**|-|**1,894**|120|
|Depreciation|Staff time|**293**|437|**-**|-|**293**|437|
|Loss on disposal of fixed assets|Staff time|**(193)**|-|**-**|-|**(193)**|-|
|Accountancy|Governance|**-**|-|**8,685**|6,690|**8,685**|6,690|
|Other professional fees|Direct|**9,623**|6,765|**1,781**|11,534|**11,404**|18,299|
|Recruitment expenses|Direct|**945**|2,876|**-**|-|**945**|2,876|
|||**__________**|**________**|**________**|**________**|**__________**|**__________**|
|||**121,499**|81,996|**10,466**|18,224|**131,965**|100,220|
|||**=========**|**=======**|**=======**|**=======**|**=========**|**========**|





**Page 14** 

## **CARERS TOGETHER FOUNDATION (A Company Limited by Guarantee)** 

## **NOTES TO THE UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** 

## **5. STAFF COSTS AND REMUNERATION OF KEY MANAGEMENT PERSONNEL** 

||**2023**|2022|
|---|---|---|
||**£**|£|
|Salaries and wages|**364,491**|364,384|
|Social security costs|**24,820**|23,471|
|Pension costs|**10,635**|10,139|
|Agency costs|**-**|7,612|
||**__________**|**__________**|
||**399,946**|405,606|
||**=========**|**=========**|



The total employment benefits, including employer pension contributions, of key management personnel were £59,540 (2022: £56,922). 

No employee had employee benefits of £60,000 per annum or more (2022: none). 

No remuneration was paid to trustees in the year.  No trustees were reimbursed travel expenses in the year (2022: none).  No other expenses were reimbursed to trustees in the year. 

The charity has indemnity insurance on behalf of the trustees.  The cost of the premium included in these financial statements is £220.37 (2022: £220.37). 

The average total head count and average full-time equivalent (FTE) number of employees during the year was as follows: 

||**2023**|**2023**|2022|2022|
|---|---|---|---|---|
||**No.**|**FTE**|No.|FTE|
|Management, administration and project staff|**18**|**12**|17|11|
||**====**|**====**|**====**|**====**|



## **6. NET INCOME/(EXPENDITURE) FOR THE YEAR** 

|**NET INCOME/(EXPENDITURE) FOR THE YEAR**|||
|---|---|---|
|This is stated after charging:|**2023**|2022|
||**£**|£|
|Profit on disposal of fixed assets|**(1,927)**|-|
|Depreciation of tangible fixed assets|**2,933**|4,370|
|Independent Examiner’s fees:|||
|Accountancy services|**3,510**|3,510|
|Independent examination|**990**|990|
|Under-provision re previous year|**1,800**|-|
|Payroll bureau services|**2,385**|2,190|
||**=======**|**=======**|





**Page 15** 

## **CARERS TOGETHER FOUNDATION (A Company Limited by Guarantee)** 

## **NOTES TO THE UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** 

|**7.**|**TANGIBLE FIXED ASSETS**||**Fixtures,**|
|---|---|---|---|
||||**Fittings &**|
||||**Equipment**|
||||**£**|
||**COST**|||
||At 1 April 2022||**74,281**|
||Additions||**13,988**|
||Disposals||**(8,649)**|
||||**_________**|
||At 31 March 2023||**79,620**|
||||**========**|
||**DEPRECIATION**|||
||At 1 April 2022||**69,317**|
||Charge for the year||**2,933**|
||Disposals||**(8,576)**|
||||**_________**|
||At 31 March 2023||**63,674**|
||||**========**|
||**NET BOOK VALUE**|||
||At 31 March 2022||4,964|
||||**=======**|
||At 31 March 2023||**15,946**|
||||**=======**|
|**8.**|**DEBTORS**|||
||Due within one year:|**2023**|2022|
|||**£**|£|
||Contract/grant income receivable|**32,157**|14,416|
||Prepayments and accrued income|**5,937**|8,525|
|||**________**|**________**|
|||**38,094**|22,941|
|||**=======**|**=======**|
|**9.**|**CREDITORS: Amounts falling due within one year**|||
|||**2023**|2022|
|||**£**|£|
||Trade creditors|**5,644**|9,138|
||Social security and other taxes|**7,846**|7,220|
||Accruals and deferred income|**9,838**|23,430|
||Funds under management|**9,261**|9,261|
|||**________**|**________**|
|||**32,589**|49,049|
|||**=======**|**=======**|





**Page 16** 

## **CARERS TOGETHER FOUNDATION (A Company Limited by Guarantee)** 

## **NOTES TO THE UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** 

|**10.**|**MOVEMENT IN FUNDS**||||||
|---|---|---|---|---|---|---|
||**2023**|1 April||||**31 March**|
|||2022|**Income**|**Expenditure**|**Transfers**|**2023**|
||**Unrestricted Funds:**|£|**£**|**£**|**£**|**£**|
||General|195,559|**82,146**|**661**|**16,557**|**293,601**|
|||**--------------**|**------------**|**----------**|**----------**|**--------------**|
||**Restricted Funds:**||||||
||Redcar & Cleveland Borough Council:||||||
||Carers Information & Support|59,493|**163,489**|**180,593**|**(4,896)**|**37,493**|
||Carers Information & Support (Hospitals)|49,431|**74,721**|**76,111**|**(2,658)**|**45,383**|
||COVID Health & Wellbeing Fund|6,939|**-**|**6,661**|**-**|**278**|
||Hospital discharge fund|-|**20,000**|**100**|**(5,000)**|**14,900**|
||Hardship fund|-|**7,500**|**1,606**|**-**|**5,894**|
||Middlesbrough Borough Council:||||||
||Carers Outreach Assessment & Support|72,103|**147,489**|**165,885**|**(4,756)**|**48,951**|
||Dementia Friendly Activities|1,500|**-**|**-**|**(1,500)**|**-**|
||Poverty Insight Interviews|-|**1,500**|**68**|**-**|**1,432**|
||Hospital Discharge Fund|-|**20,000**|**170**|**(5,000)**|**14,830**|
||Hardship Fund|-|**7,500**|**1,224**|**-**|**6,276**|
||COVID Re-enablement and Counselling|2,120|**15,000**|**34,500**|**17,380**|**-**|
||National Lottery Community Fund|390|**68,967**|**65,868**|**(559)**|**2,930**|
||County Durham Community Fund:||||||
||- Breaks for Carers|4,921|**-**|**4,981**|**60**|**-**|
||NHS England:||||||
||Mind The Gap|10,000|**-**|**-**|**-**|**10,000**|
||Mind The Gap Transition|10,000|**-**|**-**|**-**|**10,000**|
||Parent Carers|320|**-**|**-**|**-**|**320**|
||Henry Smith - Parent Carers Worker Fund|3,617|**33,800**|**29,530**|**(1,119)**|**6,768**|
||Redcar & Cleveland Parent Carer Forum|850|**-**|**2,341**|**1,491**|**-**|
||Sport England - Your Active Living Fund|3,500|**-**|**28**|**-**|**3,472**|
||Middlesbrough Voluntary Development Agency||||||
||- Welfare rights and Counselling|5,000|**5,000**|**-**|**(10,000)**|**-**|
||Leeds Community Foundation|-|**10,000**|**4,167**|**-**|**5,833**|
||County Durham Community Foundation|-|**10,000**|**-**|**-**|**10,000**|
|||**__________**|**__________**|**__________**|**________**|**__________**|
|||230,184|**584,966**|**573,833**|**(16,557)**|**224,760**|
|||**=========**|**=========**|**=========**|**=======**|**=========**|
||**2022**|1 April||||31 March|
|||2021|Income|Expenditure|Transfers|2022|
||**Unrestricted Funds:**|£|£|£|£|£|
||General|182,520|13,630|6,435|5,844|195,559|
|||**--------------**|**------------**|**----------**|**----------**|**--------------**|
||**Restricted Funds:**||||||
||Redcar & Cleveland Borough Council:||||||
||Carers Information & Support|61,827|205,333|207,667|-|59,493|
||Carers Information & Support (Hospitals)|19,185|100,000|69,754|-|49,431|
||COVID Health & Wellbeing Fund|18,281|-|11,342|-|6,939|
||Middlesbrough Borough Council:||||||
||Carers Outreach Assessment & Support|66,492|173,000|167,389|-|72,103|
||Financial Inclusion Group|5,844|-|-|(5,844)|-|
||Dementia Friendly Activities|-|1,500|-|-|1,500|
||COVID Re-enablement and Counselling|-|36,500|34,380|-|2,120|
||National Lottery Community Fund|-|67,732|67,342|-|390|
||County Durham Community Fund:||||||
||- Breaks for Carers|-|5,000|79|-|4,921|
||NHS England:||||||
||Mind The Gap|-|10,000|-|-|10,000|
||Mind The Gap Transition|-|10,000|-|-|10,000|
||Parent Carers|-|5,759|5,439|-|320|
||Henry Smith - Parent Carers Worker Fund|-|16,650|13,033|-|3,617|
||Redcar & Cleveland Parent Carer Forum|850|-|-|-|850|
||Sport England - Your Active Living Fund|3,500|-|-|-|3,500|
||Middlesbrough Voluntary Development Agency||||||
||- Welfare rights|-|5,000|-|-|5,000|
|||**__________**|**__________**|**__________**|**________**|**__________**|
|||175,979|636,474|576,425|(5,844)|230,184|
|||**=========**|**=========**|**=========**|**=======**|**=========**|



Transfers between funds are as agreed by the Board. 



**Page 17** 

## **CARERS TOGETHER FOUNDATION (A Company Limited by Guarantee)** 

## **NOTES TO THE UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** 

## **10. MOVEMENT IN FUNDS** _**(Continued)**_ 

## **Restricted Funds** 

## _**Redcar & Cleveland Borough Council:**_ 

_**Carers Information & Support**_ - to support carers in the community across Redcar & Cleveland.  This fund includes additional grants received for Infection Prevention Control (IPC) and communication. 

_**Carers Information & Support (Hospitals)**_ - to provide a Carers Information and Support Service for South Tees carers in local hospitals. 

_**COVID Health & Wellbeing Fund**_ - to provide carers with items and services to relieve hardship as a result of the COVID pandemic. 

_**Hospital Discharge Fund –**_ to be used flexibly on interventions that best enable the discharge of patients from hospital to the most appropriate location for their ongoing care. 

_**Hardship Fund –**_ to be used to alleviate some of the financial difficulties experienced by carers and the person they care for as a result of the cost of living crisis. 

## _**Middlesbrough Borough Council:**_ 

_**Carers Outreach Assessment & Support**_ - to support carers in the community across Middlesbrough. 

_**Dementia Friendly Activities**_ - to provide a range of dementia related activities in Middlesbrough. 

_**Poverty Insight Interviews –**_ to support associated costs relating to a series of structured interviews with carers.  The aim of these interviews is to gain an insight into any poverty issues experienced by carers in Middlesbrough. 

_**Hospital Discharge Fund –**_ to be used flexibly on interventions that best enable the discharge of patients from hospital to the most appropriate location for their ongoing care. 

_**Hardship Fund –**_ to be used to alleviate some of the financial difficulties experienced by carers and the person they care for as a result of the cost of living crisis. 

_**Financial Inclusion Group**_ - to provide welfare rights information and support to Middlesbrough carers. 

_**COVID Re-enablement and Counselling**_ - funds from Middlesbrough Borough Council and Redcar & Cleveland Development Agency - Resilience Fund to support carers to re-engage with support services following the lifting of COVID-19 restrictions. 

_**National Lottery Community Fund**_ - to engage carers in their local communities. 

## _**County Durham Community Foundation:**_ 

_**Breaks for Carers**_ - to provide respite for carers. 

## _**NHS England:**_ 

_**Mind The Gap**_ - to carry out a consultation exercise with young adult carers. 

_**Mind The Gap Transition**_ - to further consult with young adult carers to identify their needs. 

_**Parent Carers**_ - to provide grant funding for parent carers. 

_**The Henry Smith Charity**_ - to provide support and information to parent carers across South Tees. 

_**Redcar & Cleveland Parent Carer Forum**_ - to provide administrative support and grant management to the forum. 

_**Sport England, Your Active Living Fund**_ - to remove barriers for carers taking part in physical activity in Middlesbrough. 

- _**Middlesbrough Voluntary Development Agency Welfare Rights**_ - to provide welfare rights support to carers in Middlesbrough. 

_**Leeds Community Foundation -**_ contribution to the costs of the carer’s financial wellbeing service. 

_**County Durham Community Foundation –**_ funding to provide a carer’s social prescribing link worker. 



**Page 18** 

**CARERS TOGETHER FOUNDATION (A Company Limited by Guarantee)** 

## **NOTES TO THE UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** 

|**11.**|**ANALYSIS OF NET ASSETS BETWEEN FUNDS**|**Tangible**|**Net**||
|---|---|---|---|---|
|||**Fixed**|**Current**||
|||**Assets**|**Assets**|**Total**|
|||**£**|**£**|**£**|
||Unrestricted funds|**15,946**|**277,655**|**293,601**|
||Restricted funds|**-**|**224,760**|**224,760**|
|||**________**|**__________**|**__________**|
||**Total Funds**|**15,946**|**502,415**|**518,361**|
|||**=======**|**=========**|**=========**|



## **12. FUNDS OF THE CHARITY** 

Unrestricted funds are those which the trustees are free to use in accordance with the charitable objects, although the trustees may decide to designate part of these funds for specific purposes. 

Restricted funds are those which have been given for particular purposes and projects. 

## **13. TAXATION** 

HM Revenue & Customs have approved the charitable status of Carers Together Foundation and its income is therefore exempt from tax under Sections 505 and 506 of The Taxes Act 1988, provided that such income is applied for charitable purposes. 

## **14. PENSION SCHEME** 

The charity operates a defined contribution pension scheme for its employees.  The amount recognised as an expense in the period was £10,635 (2022: £10,139). 

## **15. CONTROLLING PARTY** 

Throughout the year, the charity was under the control of the Board of Trustees. 

## **16. RELATED PARTY TRANSACTIONS** 

During the year under review, there were no related party transactions. 

Total unrestricted donations from related parties during the year under review amounted to £nil (2022: £nil). 

## **17. RECONCILIATION OF NET MOVEMENTS IN FUNDS TO** 

|**RECONCILIATION OF NET MOVEMENTS IN FUNDS TO**|||
|---|---|---|
|**CASH INFLOW FROM OPERATING ACTIVITIES**|**2023**|2022|
||**£**|£|
|Net movement in funds|**92,618**|67,244|
|**Add:**Depreciation charge|**2,933**|4,370|
|**Less:**Profit on disposal of fixed assets|**(1,927)**|-|
|**Less:**Interest receivable|**(290)**|(1)|
|Decrease/(increase) in debtors|**(15,153)**|1,547|
|Increase/(decrease) in creditors|**(16,460)**|19,196|
||**_________**|**_________**|
|**Cash Inflow from Operating Activities**|**61,721**|92,356|
||**========**|**=========**|





**Page 19** 

## **CARERS TOGETHER FOUNDATION (A Company Limited by Guarantee)** 

## **NOTES TO THE UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** 

## **18. FINANCIAL INSTRUMENTS** 

The carrying amounts of the charity’s financial instruments are as follows: 

|The carrying amounts of the charity’s financial instruments are as follows:|||
|---|---|---|
|**Financial Assets**|**2023**|2022|
||**£**|£|
|Debt instruments measured at amortised cost:|||
|-  Contract/grant income receivable|**32,157**|14,416|
||**=======**|**=======**|
|**Financial Liabilities**|||
|Measured at amortised cost:|||
|-  Trade creditors|**5,644**|9,138|
|-  Social security and other taxes|**7,846**|7,220|
|-  Accruals and deferred income|**9,838**|23,430|
|-  Funds held under management|**9,261**|9,261|
||**=======**|**=======**|
|The income attributable to the charity’s financial instruments is as follows:|||
|Interest receivable:|||
|-  Financial assets measured at amortised cost|**290**|1|
||**======**|**======**|