REGISTERED CHARITY NUMBER: 1145523
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2022
FOR
GOLDEN YEARS
Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
GOLDEN YEARS
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2022
| Page | |
|---|---|
| Report of the Trustees | 1 to 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 to 10 |
GOLDEN YEARS
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2022
The trustees present their report with the financial statements of the charity for the year ended 31 January 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objectives for which the charity is established are as follows:
1) To promote the relief and social inclusion of elderly people particularly, but not exclusively, from the orthodox Jewish community by any charitable means, in particular but not exclusively by:
a) the provision of training;
b) the provision of social, recreational and cultural activities or events; and
c) the provision of advisory and support services.
2) Such charitable purposes for the benefit of persons particularly, but not exclusively, of the Jewish faith in any part of the world which are exclusively charitable according to the laws of England and Wales as the trustees may from time to time determine.
Significant activities
The aim of Golden Years is to improve the lives of seniors by providing them with a programme of activities designed to stimulate, educate and improve social inclusion. Golden Years was founded by a group of local residents from the Orthodox community in NW London, who identified that senior members of the community still living at home were often lonely and isolated. Care home residents are provided with social activities, whilst elderly or retired people who are not in a senior setting tend to lack opportunities to attend social events. Golden Years exists to enhance the emotional health of senior citizens and their caregivers. It reduces the risk of mental health issues with the concept that prevention is better than cure.
The age of Golden Years attendees range from retirement to over a hundred years. It runs varied initiatives and programmes designed to be of interest to its attendees. Many beneficiaries are still sharp, with little or no memory loss, so classes and entertainment are designed to be beneficial to them. Other seniors suffer varying degrees of dementia, so their needs are quite different. Programmes are created to be suitable for this group too.
An important aspect of the work Golden Years does, is providing high level programmes for those participants whose mental abilities are not compromised. Many seniors find that the tendency of younger people to treat elderly people condescendingly discourages them from attending certain social settings. Golden Years prides itself on treating its seniors as it would any other audience of intelligent, astute and quick-witted people. Many participants have led very productive and distinguished lives and have wisdom, insight and humour to offer the volunteers and each other. The programmes are designed to be as informal and interactive as possible to allow the involvement and contributions of the attendees.
Golden Years beneficiaries are from varied backgrounds; many have lost spouses and other family members. A large percentage are Holocaust survivors and most are struggling with medical and physical difficulties. For some, Golden Years events are the only opportunity they have to leave their homes. They come to escape boredom and isolation, socialise with their contemporaries, enjoy some delicious refreshments and participate in programmes. As this charity has a Jewish Orthodox ethos, there are separate programmes for men and for women. A large proportion of attendees do not attend mixed gender events.
Golden Years also aims to support the caregivers, who tend to be relatives of the elderly people, but are often friends or paid carers. Events at Golden Years provide both a place for them to spend enjoyable time with the people they care for, and an opportunity to support each other in what is usually a very challenging and overwhelming role.
Golden Years pays only one employee; there is a large network of volunteers who run the programmes, transport users to and from events and coordinate all other aspects of the charity. As a result, Golden Year's overheads are negligible and almost all funding goes directly into the services it offers. The volunteers are from varied backgrounds and often retired themselves. They have reported the significant positive effect Golden Years has had on their own lives, as they enjoy giving of their time for a useful purpose and being involved in the organisation in a benevolent capacity.
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GOLDEN YEARS
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JANUARY 2022
OBJECTIVES AND ACTIVITIES Public benefit
The Trustees confirm their compliance with the duty to have due regard to the Public Benefit guidance published by the Charity Commission as well as the Equalities Act 2010 when reviewing the Charity's aims and objectives and in planning future activities.
FINANCIAL REVIEW
Investment powers, policy and objectives
In accordance with the trust deed, the trustees have the power to make any investment which the trustees see fit. The trustees regularly review the charity's position and needs in respect of the investment policy.
Financial review
Reserves at the start of the year were over £31,000 which could cover the charity's activities for about 9 months. At the year end, reserves were over £51,000. (These include restricted funds but most of the charity's expenses are paid from restricted funds.)
Golden Years is mostly grant funded and receive several donations from community members. It has a small budget as is operated mostly by volunteers.
Reserves policy
The demands on the charity's funds were within expectations totalling £28,657 (2021: £24,856 ).
The trustees aim to hold free reserves of at least 2 months (but no more than 12 months) operating costs in order to protect services and ensure adequate cashflow for the organisation's financial needs. As of 31 January 2022 the free reserves of the charity were £44,112 (2021: £37,538) which is equivalent to about 12 months' running costs.
Covid-19
The Trustees have considered the potential impact of the Covid-19 pandemic, which has been spreading since early 2020, on the charity's activities. Like many other charities, the outbreak has caused and is going to cause some disruption to the charity. The Trustees have taken appropriate action to mitigate the effects of Covid-19 on the activities and finances of the charity.
FUTURE PLANS
The charity plans continuing the activities outlined above in the forthcoming years subject to satisfactory incoming resources.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
The charity is governed by its Trust Deed and was registered with the Charity Commission on the 18 January 2012.
Recruitment and appointment of new trustees
There must be at least 3 trustees. Apart from the first trustees, every trustee must be appointed for a one year term by a resolution of the trustees passed at a special meeting called under clause 15 of the deed in selecting individuals for appointment as trustees, the trustees must have regard to the skills, knowledge and experience needed for the effective administration of the charity.
The trustees must make available to each new trustee, on his or her first appointment:
a) a copy of this deed and any amendments made to it; b) a copy of the charity's latest report and statement of accounts.
Risk management
The Trustees have identified and reviewed the major risks to which the charity is exposed. Both manual and automated checks are regularly invoked, particularly those relating to the operations and finance of the charity. The trustees are satisfied that these systems and procedures mitigate any perceived risks.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1145523
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GOLDEN YEARS
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 JANUARY 2022
Principal address 90 Princes Park Avenue London NW11 0JX
Trustees
Mrs A Gefilhaus Mrs L Winegarten Rebbetzin R Ehrentreu
Independent Examiner Aryeh Melinek FCA Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
Bankers
HSBC Bank Cross Road 897 Finchley Road, Golders Green, London England NW11 7NX
Approved by order of the board of trustees on 22 November 2022 and signed on its behalf by:
Mrs A Gefilhaus - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GOLDEN YEARS
Independent examiner's report to the trustees of Golden Years
I report to the charity trustees on my examination of the accounts of Golden Years (the Trust) for the year ended 31 January 2022.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Aryeh Melinek FCA Melinek Fine LLP Chartered Accountants First Floor, Winston House 349 Regents Park Road London N3 1DH
22 November 2022
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GOLDEN YEARS
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2022
| Unrestricted Restricted fund fund Notes £ £ INCOME AND ENDOWMENTS FROM Donations and legacies 6,574 37,115 EXPENDITURE ON Charitable activities Charitable Activities - 28,408 NET INCOME 6,574 8,707 RECONCILIATION OF FUNDS Total funds brought forward 37,538 13,934 TOTAL FUNDS CARRIED FORWARD 44,112 22,641 |
2022 Total funds £ 43,689 28,408 15,281 51,472 66,753 |
2021 Total funds £ 44,703 24,856 19,847 31,625 51,472 |
|---|---|---|
The notes form part of these financial statements
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GOLDEN YEARS
BALANCE SHEET 31 JANUARY 2022
| Unrestricted Restricted fund fund Notes £ £ FIXED ASSETS Tangible assets 6 - 76 CURRENT ASSETS Cash at bank 44,112 25,202 CREDITORS Amounts falling due within one year 7 - (2,637) NET CURRENT ASSETS 44,112 22,565 TOTAL ASSETS LESS CURRENT LIABILITIES 44,112 22,641 NET ASSETS 44,112 22,641 FUNDS 8 Unrestricted funds Restricted funds TOTAL FUNDS |
2022 Total funds £ 76 69,314 (2,637) 66,677 66,753 66,753 44,112 22,641 66,753 |
2021 Total funds £ 152 51,439 (119) 51,320 51,472 51,472 37,538 13,934 51,472 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 22 November 2022 and were signed on its behalf by:
A Gefilhaus - Trustee
The notes form part of these financial statements
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GOLDEN YEARS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33% on cost
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of the funds is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
2. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 January 2022 nor for the year ended 31 January 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 January 2022 nor for the year ended 31 January 2021.
continued...
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GOLDEN YEARS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2022
3. STAFF COSTS
The average monthly number of employees during the year was as follows:
| Employee No employees received emoluments in excess of £60,000. 4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 8,527 EXPENDITURE ON Charitable activities Charitable Activities - NET INCOME 8,527 RECONCILIATION OF FUNDS Total funds brought forward 29,011 TOTAL FUNDS CARRIED FORWARD 37,538 5. FUNDS |
2022 1 Restricted fund £ 36,176 24,856 11,320 2,614 13,934 |
2021 1 Total funds £ 44,703 24,856 19,847 31,625 51,472 |
|---|---|---|
Restricted funds were received to contribute towards the costs of continuing and expanding existing services.
6. TANGIBLE FIXED ASSETS
| Fixtures | |
|---|---|
| and | |
| fittings | |
| £ | |
| COST | |
| At 1 February 2021 and 31 January 2022 | 1,471 |
| DEPRECIATION | |
| At 1 February 2021 | 1,319 |
| Charge for year | 76 |
| At 31 January 2022 | 1,395 |
| NET BOOK VALUE | |
| At 31 January 2022 | 76 |
| At 31 January 2021 | 152 |
continued...
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GOLDEN YEARS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2022
7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Taxation and social security Other creditors 8. MOVEMENT IN FUNDS Unrestricted funds General fund Restricted funds Restricted Grants TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Restricted Grants TOTAL FUNDS Comparatives for movement in funds |
At 1.2.21 £ 37,538 13,934 51,472 Incoming resources £ 6,574 37,115 43,689 |
2022 2021 £ £ 67 119 2,570 - 2,637 119 Net movement At in funds 31.1.22 £ £ 6,574 44,112 8,707 22,641 15,281 66,753 Resources Movement expended in funds £ £ - 6,574 (28,408) 8,707 (28,408) 15,281 |
|---|---|---|
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.2.20 | in funds | 31.1.21 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 29,011 | 8,527 | 37,538 |
| Restricted funds | |||
| Restricted Grants | 2,614 | 11,320 | 13,934 |
| TOTAL FUNDS | 31,625 | 19,847 | 51,472 |
continued...
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GOLDEN YEARS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JANUARY 2022
8. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 8,527 | - | 8,527 |
| Restricted funds | |||
| Restricted Grants | 36,176 | (24,856) | 11,320 |
| TOTAL FUNDS | 44,703 | (24,856) | 19,847 |
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 January 2022.
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