Reglstered number: 08398889 Charlty number: 1151398 Age UK Thanet Limited (A company Ilmlted by guarantea) Unaudited Trustees, report and flnanclal statements For the year ended 31 March 2024 ADINILJL 2411212024 COMPANIES HOUSE A49
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Age UK Thanet Limlted (A company Ilmlted by guarantee) Contents Page Roforence and admln16tratlva dotalls of the Charltyi Its TruL¥te•8 and advl8era Trusteès. report Indopondant examlnor's report Slatemant of flnanclal activitles 10 Balance 8he•t 11 Statement of cash flows 12 Not•s to'thè flnanclal 8tatemen18 13-28
Age UK Thanet Llmlted (A Company Ilmlted by guarantee) Reference and admlnlstratlve detalls of tha Charlty, Its Trusteos and advlsers For the year ènded 31 March 2024 Tru6tee$ Shlrley Tomlinson, Chairperson .Juslin8 Crane Jayne Prentice-whltney Eric Barratt (resigned 21 April 2023) Tllllola Ullem lappoinled 14 Novernber 2023) Company rnglslered numbèr . 08398889 Charity registered numbor 1.151398 ' Reglsterèd office Randolph House Zlon Place Margate Kent CT9 1RP Chlel execullve ofllcer Vanessa Wood .1 ' A¢¢ountant8 KreBlon Re8ves LLP Chartered Accounlanls Montagug Place Quaysldé Chatharn Marltlmg Chatham Kent ME4 4QU Independent Exainlner Samantha Rouse FCCA.DChA Kreslon Reev8s LLP Monlague Place Quayslde Chatham Marllime Chatham Kent ME4 4QU Page I
Age UK Than8t Llmlted (A company Ilmlted by guaranta• Trustees, report For the year endod 31 March 2024 The Truste85 present thelr annual reporl together wllh Ihe linanclal 3talemenls of Ihe Charity for Ihe year 1 Aprll 2023 10 31 March 2024. The Annual report serves tho purposes of both a Trustees, report and a directors. r8POrt under COTnpany 18w. Th8 Trustees conltmi Ihal th8 Annual report and flnanclal slalemenls of th8 charitable company comply wlh tha current slalulory requir8menls, lh& requirements of the charitabl6 companls govgrnlng do¢um8nl and Ihe piovlslons of lh6 Slalemenl of Recommended Pracllce (SORP) applicable to charlties preparlng their accounts In accordance with the Financlal Reportlng Standard appllcable In the UK and Republlc of Ireland (FRS102) (effecllve 1 January 2019). Slnce the Charfty quallfies as small under section 382 of the Companies Act 2006. the Strateglc report requlred of medlum and large companles under the Companles Act 2006 (Slral8glc Report and Dlreclors, Report) Regulatlons 2013 ha8 been omltted. Objacllves and actlvltles Pollcles and obJectlve$ Misslon and Vislon The mlsslon and vlslon of Aga UK Thanel Lld Is to provid8 a warm 8nd welcomlng Communily HLJb th8t offors actlvlties, fun and Informatlon lo anyone over the age of 50 livlng In Than8t. Purpose Our purpose Is lo provlde Colorful and Amazing Llves (Ask CAL) wlth Hollstlc Servlces and approach on how lo enable Indivldu818 to remaln 81 home offerfng choicè and comp8nlon8hlp to Teduce lon81ine88 and Isolallon. We ensure that through Ihe ever-changlng envlronmanl we are 8dapiable and able lo diverslfy lo meel Ihe needs of the people In Thanel. Worklng In partnershlp wilh slalulory and voluntary organ15ations lo empower and promote an age Irlendlycommunily In Thanet. Publ1¢ Benètit Statemftnt The Tru8leos confirm Ihat they have relerred to the guldance conlaln8d In the Charlly Commlsslon'8 general guldance on PLtbllc benefit when reviewlng the organisallon's alms and oblectives and in plannln9 future acllvltles. A¢hiovements and porfomianco a. Maln achlovements of tho Ch•Ylty De8pile the cost ol living crlsls and ongoing thallenges wllh funding, Age UK Thanel has an op8rating surplus ft)r the year of £89,238 (2Q23.' deficll £48,866). Wllh the knowledge of the challenges ahead the CEO and tegm have worked h8rd to find 8olullons to be pr8pared for Ihes6 ongolng conc8rns whlGh have been successful and achleved a profit thls year, The fiscal year 202312024 has been a forever changlng challenge for Age UK Thanet. Slowly, findlng ways lo be able to flnd posslbllilles of supporting the organlsation to move lorwards with Ihe cosl-of-livlng crlsls. Changes In funding opporiunllles and uncertainty of conlra¢ls from Kent County Councll and lack of clarlficatlon has had a SeV8re pressure on the services as there has been a high increase of service reqLSiremenl8 and lack ol uplifls from contracts whlch has had an Impact on overhèad costs, Conlracts have not bèen able lo cover incr88slng market costs. A further challenge was the rlsk of skllled staff le8vlng due lo the uncertalnly of conlracls. Pag8 2
Aga UK Thanet Llmlted (A company limited by guarantee) Trustees. report (contlnued) Fortho y•ar endod 31 March 2024 Achlevements and performance (contlnued) All 8orvlc8s h8V6 bèen fiuctuallng Sn numbers due to a hlgh number of cllenls requiring more support. Th8 Wellbelng Contract has ftourishod w5th numbers and Indlvlduals ov8r 50 partlclpallng wSlh all our wellbelng acllvltles across Thanet and ensuring each person Is empowered to remain both ment8I1y and physically w811 with ¢ompanion8hip lo reduca lon8llnes8 and Isolatlon and Improve of physic81 filnes5. The Telephone Befrlendlng Servlce sllll has a walling Ilsl, and Our Volunteer Co-ordlnator has worked Ilrelessly lo recrult vnderful volunleeis Io cov8r actlvlties. admln and (Infomiation & advlce) I&A and everyone's support has been invaluable. Age UK Than61'8 I&A SeNlcé also has 8 walllng Ilsl of over a month for referrals Irom p80ple who requlre 'support with thelr benefits. We have a new Informallon and Advice Officer emb8rklng on Ihe Audll from Age UK National oncé her training Is completed, Ask CAL support al home wlth an Inlegraled approach has a150 had flucluallng numbers over the pa81 year. wlth individuals in¢reasln9 their houis of support to remaln at home wllh cholce and Ilexibility, from walks, c18aning, shopping, 8ttending appointment5. We have a hard-working Co-ordinator and a 188m of 9 support work8rs who dellver Ihls servlce and enabl8 Indlvlduals lo rem8ln al home and reduce Isolallon and loneliness. We have had an increase in requests lo Bssisl indlviduals lo health appointments and go Into appolnlmenls wlth them. We also supported NHS (Nallonal Health Service> En9land with 'Home and Well. whlch supported people lo slay well ' once dlscharged from hospllal for 4 months over the wlnter rnonlh8 In 2023. Our hot meal dellvery 'Buddy Box, has flucluated over the year due lo an Increase In cllents who needed long term carg and clients going Into hospit81. This service does provide. the most vulnerable wllh a nulrltlonal meal and a w8lf8re call. Our Dementla and Me Organls6r conllnues 10 6uppori Sn a flexible approach lo ensure the needs are met of the advlls Ilvlng with demen118 and thelr car8r.'s. We are now supportlng more adults Ilvlng wllh demenlla on a one- to-one basis at home and group 8Ctivllles end Oemenlia cafés. The Health Care Foot Pr8ctlllon8r is busy as ever supporting clienls out in Ihe communlly. Thè Handyper80n s8rrflc8 8180 ha8 a waltlng Ilsl due lo the neèd for support wllh gardenlng. palnllng, and Jobs wilhln th8 house. The ART contract. is going well, and we support Ihe m8dlcal team wllh household task8 to ensure Indlvlduals remaln al hom8 wlth m8dlcal and soclal support. Community Care Navigators Contract, staff have changed, and we have two new members Ihat are dolng vèry well. We have lusl been noiined that Ihls contract wlll be exlgnd&d for another year. 2023 to 2024. W8 are walllng l.or confirmalion if thls contract will conlSnue past March 2024. The Age UK Thanel Charlty Shop also closed as planned, due lo the lease endlng on the 30th of'september 2023, Changes ahead wlS1 be to secure fundlng and suslalnablllty and developlng servl¢es to meel the ever<hanglng needs of the communlly. We have been engaging wllh cllents and volunteers regularly to dlsGuss any changes 8nd why c051s for servlce3 may need lo rlse over the next year, To seek a new Hub which provides Age UK Thanel Lld more scope to delNer more activities and servlces and work alongslde other stakeholders. To grow alongside Health colleagues lo support Indivlduals efficiently and redu¢8 SUPPOrt on the Heallh and Soclal Servlces, bolh under huge pressure. The Board of Truslees support the 5a18 of Ihe bulldlng and our new endeavors. Page 3
Ago UK Thanot Llmlted (A company Ilmlted by guarantee) Trustees. report {contlnued) For Iho year ended 31 March 2024 A¢hlevements and perforniance {conlinued) Flnanclal revlow Golng Goncern After maklng appToprlale enqulrles, the Trustees hav8 a reasonable expectallon Ihal the Charlty has adequale resources lo ¢onllnue In opèrallonal exlsl8nc6 for th8 foreseeable future wllh full cost recovery on servlc8S. b, Raserves pollcy The Truslees have revl8wed the reseNes of Ihe charity and have established a policy under whlch (he . unreslricled reserv88 held by the chartly should be beeen four and six months of th8 charlty's dlrecl costs of operatlon. This figure comes to £300,000 (2023.. £165,000). Reslrlcted reserves amounted to £30,635 on 31 March 2024 (2023: £20,000) Unreslrlcted g8neral reseN8s amounted lo £424,368 on 31 March 2024 {2023.' £330,450> Free reserves amounted lo £449,368 on 31 March 2024 (2023: £352.838). c. Rlsk management The Truslees assess the major risks lo whlch the chaillable company Is expos8d ancl hava s8tl8fled Ihems8lves that systems are In place lo mltlgat8 Ils exposure to malor rlsks, The Govern8nce Board 8nd the Chl6f Executlv8 Officer conllnue to revl&w risk factors and conslrainls, we look al Ihe Impact to Ihe organlsallon and the reduction ol rlsk through mlligatlon. The Rlsk Management Pollcy Is regularly reviewed and revlsed, The maln risks ar8 Idenlilled below. Polènllal risk - Trustee Board risks- Wo have one new Trustee who brlngs a great wèallh of knowledge to a legal background. Th8 Chair rernalns in sllu due lo the need of conlinully and support through th8 move as Ihis ha8 b88n discussed Ihoroughly at Board Meellngs and Ihe Board agreod 11 would be d6lriment81 lo th8 organlsatlon Ifthe Chairchanged until Ihe move has been completed and there Is a tlme of r8sett18ment and adjuslment, The salelmove will complele 2025 , and il is importanl Ihal there Is slabS1ily wilhln the Board Includlng the Chair, Treasurer. Vlce Chair. and the new Tru81ee. There is an advert oul for a TTuslee Role lo Joln to ensure Ihere Is adequate support wllhin the organlsallon. Polenllal rlsk - Operational risks - Service Provislonlcu5tomer satlsfactlon - Steps lo mlllgate Ihe rlsk To seek long-term fundlng lo meet the shortfalls of services and look al Increaslng pay slnjclure. To Increase prlces of 8ervlces to clients wlth cost of Ilving remalnlng hSgh. Age UK Th8nel Is also worklng with smallèr charllles and Communlty Interest Companles (CICS) lo reach more Indlvldualslcommunltlesldlverslly across Thanet. We have achleved collaborative worklng with other Age UKS across Kent and Medway whlch has enabled mora $8rvic8s lor the communlty and conslstency across the area. Potenllal rlsk Finance Budgelary conlTol and financi81 reporting. Steps to mitigale risk - Ihe dedicaled Flnance and Strale9y Manager has worked extremely hard ov8r the past year to reduc8 non-payers and ensure all budgels are correct. Thus. ensuring up lo dat8 r8poris and flgures and slopplng non-payers wllhin a month and more strframllned policies and procedures lo follow to account for all rnonles. Looklng at and understandlng full cost recovary and clear str8legl8s movlng lorwards over the next five-year plan. Potential rlsk - Environmental or external factors adverse publicity. Steps lo millgate risk conllnue to implemenl complainls procedures (both Internal and external), agree prop8r r8view procedure5 for complaints in Ilne wlth our pollcl88 and procedures. Pa9e 4
Age UK Than8t Llmlted (A company Ilmited by guaranlee) Trustees. report (contlnued) For tha year 8ndad 31 March 2024 Potenllal rlsk . Compllance rlsk (Law and . Regulation) compllance wllh le9islallon and regulallons approprlate to ltte acllvilles, slze and structure of th8 Charlty. Steps lo mSllgate rlsk Identify key legal and Tegulatory requlr8menls, allocate responslbllity for key compllance monitoring and reportlng: prepare for Gompllance vI8118, oblaln compllance reports from regulators. d. Re8uIt8 for the year Income for the year amounl6d lo £833,896 (2023 £782,954). Expenditurè amounted lo E744,858 (2023 £831,820). As a rasull, Ihe charity generaled a surplus of £89.238 (2023 - deflclt of £48.866). On 31 March 2024 total lunds amounted to £1.097.250 {2023 - £1,008,012) The Truslee8 regularly review delalled nnancl81 reports 8nd a budget ha8 boen set and approved for the next 12 monlhs Structurej governanc• and manogemént . Constllutlon Th8 charltable company was Incorporated on 12 F8bru8ry 2013 as Age UK Thanet Llmlled wllh company number 08398889 and is Ilmlled by guaranlee. The charllable company was reglstered wllh the Ch8rlly Commlsslon on 26 March 2013 wllh charity number 1151398. The charltable company Is governed by Its Memorandum and Artlcles ofhssociallon as adopted on 12 February 2013 8nd subsequently amended on 12 Aprll 2016 8nd 20 August 2021. We began In 1940 as tha Old People's Welfare Gommlllee. Later we lolned wlth 20 other natlonal voluntary organisalion5 In 1944 becomSng the Natlonal Old People's Welfare Commlltee. Age Concem came Into exlslenc8 In'1971, In 2012 w8 became 8 full brand partner of Ag• UK. b. Methods of appolnlmenl or glection of Truslees Trustee5 are r8cruiled from a wlde range of backgrounds to ensure an appropriate mlx of skllls and exp8ri8nce. Trustees aro provided wilh a copy of the Conslltullon and the document'The Ess8nllal Trustee - What You Need . to Know <CC3)'. These t0 documents provlde Trustees wllh full delalls of the obleclives and Ihelr personal and legal dutles. In 8ddillon, we provide policles for Trustees whlch further clarlfy thes8 responsibllilies. The mlnlmum number of Board Members shall not be less than three, including a Chalrperson who Is elected at each Annual General Mèeting. Truslees can use thelr dlscretion to increase Ihe lenglh of term of Offi If this Is In Ihe b95t Inler8sI ol Ihe Board and Ag& UK Thanel. The declslon 10 keep the Chair In sllu unlll the mov8 has been completed and time allowed for adjuslmenls Is In the besl interest of Ag8 UK Thanel. Age UK Thanel Ltd has been d8veloplng over Ihe lasl year wllh a robust Trustee Board, a professlonal team of staff and volunleers led by our Ch18f Executive Officer who all show commilment lo the vision and misslon of the organisatlon. c. Pay policy for key management personnel .The TTUStees conslder thal they and the senlor managemenl team comprlse the key man8gement per.sonnel of. the charity in charge of dlrecting and controlling. runnlng. and operatlng Ihe charity daily. All Trustees give of Ihelr tlme freely and no Trustee received remunerallon In the year. Page 5
Age UK Thanet Llmlted (A company limited by guaranl89) Trustees. report (contlnuod) For tho year andèd 31 March 2024 structure, governance and management (continued d. Board of Trustees Many thanks to each Trustee as Ihelr knowledge and dedlcallon Is appreclated. Th8nks, on behalf Df all Ihe Board of Tru8tee81 go out lo all the slaff 81 Ag8 UK Thanel for Ih8lr 8UPPOrt through whal has been anolher busy and transformatlonal year. They have Shown flexlbllily and commitment, whlch slands out. We musl not forgel the Incredible work our volunteers do wllhin Ihe vartous areas. Our volunteers are recognlsed as a vllal pari of the Success of Age UK Thanel and Ils future. Thank you., you are all appT8clated. Th8 Management Team has shown commitment and r8sourcefulness during tho lumulluous perlod. and I want to personally Ihank Ihem for Ihelr am821ng flair and sklll set whlch enables Age UK Thanet to lead on a new way of worklng and as a result transforms th8 charily inlo a modern organlsalion. Plans for future perlods Our plans are lo conllnue to SPéathe8d wh81 we believe will enable Age UK Thanel lo be an Innovative charlly, that meets the ever-changlng needs of the agélng populatlon. In general, our priorlties for nexl y8ar ar8 the followlng.. Ensurlng informed cholce and health and wellbeing are at the lor8front of our objectives. To conllnue lo flnanclally slrengthen th8 organlsatlon and Increase It8 cash reserves. thereby ensurlng flnanclal sustalnablllty. To create 8 holistic, communlty-ba8ed seNice lo enhance, enabla and facllilale people lo live Independently wllhln Ihelr own homes and enjoy Ihelr IlveB. Furiher development communlly engagement an¢ for partnershlp worklng lo play a strong rola In the wlder communlly. To inve81 In th8 quallly ol the seNlces and lo ganerale more unreslricted revenua In Ilne wllh the changing flnancial cllmate that all of the volunlary seclors are currently faclng. To malnlaln Ihe hlghest18ve.l of saf8guardln9 and compllance wllh Heallh and Safety regulallons.. To re8ch Ethnic Mlnorily Groups and be Inclusive of all communille5 in Thanel. To be an equal opportunltles employer and promole equalSly and diversity within the organlsatlon creallng 8 safe environment for employees, volunle8rs and cllents. To build on our efforts to become a cllmale neutral org8nl8allon. To be open 10 8ny opportunllles that will further enable Age UK Thanet to develop high quallty 88rvlcè8 and will increase the financial suslainablllly of the organisation. To work along5Ide Health Coll8agues and develop a new way of workin9 to meel the neèds of members of Ihe communlty logelher. Brlnglng Heallh and the Thlrd Sector In Ilne by creallng one Hub. Page 6
Agè UK Thanet Llmlted (A company Ilmlted by guarantee) Trust8os' report (contlnued) For the year ended 31 March 2024 Soclal respon8ibllity Age UK Thanet as a charity Is there for ils comrnunlty and the cornmtjnlty is at the heart of everyihlng we do. Wllh our resources we prov5de the best posslbl8 servlces and try to meel the need$ of our 50 plus populallon In lh8 Thanet area. Next to our comiiiunity Involvemenl we want to conllriue our soclal responslbillly bul also consider environmenlal su8tain8bllity when conducllng buslness lo ensure responslble, elhlcal, and ongolng success. We are reallstlc and understand that to hav8 a posltlV8 Impact 11 needs to b8 8 shared and collecllve effort by all organisalions and individu8ls. As an organlsallon we wanl to lake our responsibility seriously and Iherefore we slrlve to become as cllmale neutral as posslble. Some of Ihe measures we have taken already are golng as pap8rless as posslble, sourcing our food locally. We want lo conlinue this palh and inwrporale becomlng more cllmate neutral inlo everyday pracllces. Lastly. Age UK Thanet Is an Incluslva organlsallon and we value, Involve, and respect all Individuals and organisatlons, we wlll strive lo conlinue supporting them to reach their full pot8nlial. We are an equal opportunlly employer and pride ourselves on our equallly and dlverslly, In the nexl budget year. we will increase our efforts to In¢lud8 all dlvers8 groups In lh8 communlly. Stotèmgnt of Trustee8' respon8lbllltle8 The Trustees (who 8re also Ihe direclors of the Charity for Ihe purposes of company law) are responslble for preparlng the TrusteeB' report and Iha financial gt818mènls In accordancé wlth 8ppllc8ble law 8nd Unll8d Klngdom Accountlng Stand8rd5 (Vnlted Klngdom Generally AGG8pled Accounllng Pracllce). Company law requlres Ihe Tiuslees lo prepare financlal stalemgnts for each financlal year. Under company law, Ihg Truste86 musl not approve the financial Blalemgnls unless Ihey ere salisfied that Ihey give 8 Irue and falr vlew of Ihe slate of affalrs of the Charlty and of lis Incomlng resources and 8ppllcallon of r8sour¢es, Includlng Its Incom8 and exp8nditure, for Ihal perlod. In preparfng these financlal stalemenls, the Trustees are required to.. select sullable accounting pollcles end then apply them conslstently: observe the methods 8nd princlples of the Charities SORP {FRS 102)., make ludgmenls and a¢countlng.estlma18s Ihal 8r8 reasonable 8nd prudent,. slale whether applicable UK Accounllng Standards (FRS 1021 have been followed. subject lo any materlal departures disclosed and explained in the financlal slalemenls., pr8P8re the flnancial slatemenls on the going conc8m ba8ls unless il is Inapproprlate lo presume that the Charlty wlll continua In business, The Trus188s are responslble for keeplng adequate accountlng records Ihat are 8uffi¢lanl to show and oxplaln tha Charllls transacllons and dlsclose with reasonable 8ccur8Cy 81 any tim8 the ftnanclal posllron of th8 Ch8rlly and 8nable them lo ensure that the financlal slalemenls comply wilh Ihe Companles Act 2008. They are also responsible for safeguarding the assets of Ihe Charity and hence for laklng reasonable steps lor the prevention and detecllon of fraud and other irregu58ri118S. Approved by erof e members of Ihe board of Truslees and slgned on Ihelr behall by.. Shlrley Tomllnson Date: Page 7.
Age UK Thanet.Llmlt•d (A company limited by guarantee) Independent examlner's report Forlho year endod 31 March 2024 Indèpendent examlnerfs report lo the Truslees of Age UK Thanet Llmited {'the Charlty.) I report lo the charity Trustees on my examination of the accounts of the Charity for the ar ended 31, March 2024. Responslbllllles and basls of report As the Trustees ol the Charlly (and Ils dlreclors for the purposes of company law) you aro r8sponslble for the preparallon ol the accounls Sn a¢cordance wilh the requirem8nts of the Companies Act 2006 ('Ihe 2006 Acl.). Having satisfied myself that the accounts of the Charity are not requlred to be audited under Parl 16 of the 2006 Act and are eligible for independent examlnalion, I report In respèct of my examlnelion of Ihe Charills accounts 8rrigd out under section 145 of Ihe Charities Act 2011 {'Ihe 2011 Act'>. In carrylng out my exÉmlnallon I have lollowed the Dlrecllon5 given by Ihè Charlly Commlsslon under sectlon 145(5){b) of ffte 2011 Act. Independent examlnerfs statement Since the Charity's gros5 income excèed8d £250,000 your examln8r musl bo a member of 8 body Ilsled In secllon 145 of Ihe 2011 Act. I conflrrn Ihal l arn quallfied lo undertake thè examlnallon because l am a member of Inslilule of Chartered Accounlanls In England and Wales, whlch Is one of'lhe Ilst8d bodles. I have completed my examlnallon. I conllrm Ihat no matters have come lo my attention in conneclion with Ihe examlnallon glvlng me cause to belleve: accounllng records were not kept In re8pecl of the Charily as requlred by section 386 of the 2006 Act; or the accounts do not accord wllh those records. or Ihe.accounls do not comply wllh Ihe 8ccounllng requ5remenls of secllon 396 of the 2006 Act other than any requlremenl that the accoun15 glve a 'lrue and fair, view which is nol a maller consldered 88 part of an Independent 8xamlnallon; or the accounts have nol been prepar8d In accordance with lh8 methods and prlnclples of Ihe Statemenl of Recommended Pr8clice for accounting 8nd reporting by charities lapplicable lo charilies preparing Ihelr accounts Sn accordance with the Flnanclal R8POrtlng Standard appllcable In Ihe UK and Republlc of Ireland (FRS 102)] I have no concerns and have come across no other mallers In connection wllh th8 examlnallon lo whlch allention should be drawn In Ihl8 report In order to 8nable a proper underslandlng of the accounts to be reached. Page 8
.Age UK Thanet Limlted (A company Ilmlt8d by guarant•a) Indopendent examlner's report (conllnued) For the year éndèd 31 March 2024 Thls report Is mad& sololy to the Charitys Trustees, as a body, Sn accordance wllh Part 4 of the Charllles (Accounts and Reports) Regulations 2008. My work has be8n undértaken so that I might slate to the Ch8rflVs Trustee5 those matters l am requlred lo stale lo them in an Independent examlnerfs report and for no olher p,urpose. To Ihe fullest extenl permllted by law, I do not accept or assume r8sponslblllty to anyon8 other than the Charity and Ihe Gh8rltls Truslees as a body. for my work or for thls report. Signed.. Jm2rt Dated.. 19 December 2024 S M Rouse FCCA DChA Kreston Reov•8 LLP Chartered Accountants Chatham Maritime Page 9
Age UK Thanet Llmlted (A conipany Ilmllad by guarantee) Statement of flnanclal aclivitles (Incorporatlng Sncome and expendlture account) For the year ended 31 March 2024 Restrlcted. Unrestricted funds funds 2024 2024 Tolal funds 2024 Tolal funds 2023 Not• Income from: Donations and legacies Charlt8ble activities Olher tr8dlng aclivStles Investments 212,977 202,929 385,445 29,609 2,936 415,906 385,445 29,609 2,936 401.103 335,718 44,914 1,219 Tolal In¢om• 212,977 620,919 833,896 782.954 Expendlture on: Raising funds Charitable 8cllvllle8 8,265 634,051 8,265 736.393 19,862 811,958 202,342 Tolal exp•nd5ture 202,342 542,316 744,658 831,820 Nel movoment In,fund$ 10,635 78,603 89,238 (48,866) Reconclllatlon of funds: Tol81 funds brought forward. N8t movamenl In funds 20,000 10,635 988,012 78,603 1,008,012 89,238 1,056,878 (48,866) Total fund$ carrled forward 30,635 1,066,615 1.097,250 1,008,012 The Slal8menl of ff nancl818cllvlll8s Includes all g8ln8 and losses re¢ogni8ed In Ihe yèar. The notès on pages 1310 28 form parl of these finandal stalemenis. Pag8 10
Age UK Thanet Llmlted (A company Ilmltedby guaranteèl Reglstered number: 08398889 Balance sheet As at 31 Mareh 2024 2024 2023 Note Flxed assets Tanglble assels Current assets 13 617,247 635,174 Stocks Debtors Investments Cash at bank and In hand 14 15 16 2,710 41,916 75,100. 388,196 1.750 56,916 75,000 275,965 507,922 409,631 Credltors: amounts falllng due wlthln one year 17 127,919) 138.793) Nel Current assets . 480,003 372,838 Total net a3sot8 1,097,250 1,008,0.12 Charlty funds Reslrlcted funds Unrestricted funds .18 18 30,635 1,066,615 20,000 988,012 Total funds 1,097,250 1.008,012 Th8 Ch8rily was enlilled lo exempllon from audil under secllon 477 of Ihe Compan185 Act 2006. The members have nol r8qulred the company to obialn an audit.for the yeai In questlon In accordance .wlth secllon 476 of Comp8nles Act 2006. The Trustees acknowledge Ihelr responslbllilies for complylng wilh the requlremenls of th8 Aot wlth r8SP8Ct to accounllng records and preparalion of financlal slal8m8nls. The financlal statements hav8 been pr8par8d In accordance wllh Ihe provlslons applicable to enlllles sublecl lo Ihe 8mall companies reglme. The flnancl em n15 Wa approved and authorlsed lor Issue by tho TrLi8tees and slgn8d on Ih81r behÉlf by: Shlrley Tomlinson Date: The noles on pages 13 10 28 form part of these financlal slatèmènts. Page 11
Age UK Thanet Llmlted (A company Ilmlted by guarantee) Statement of cash flo For the yoar ended 31 March 2024 2024 2023 Cash flows from opgratlng actlvltles Net cash provided byl{used in) operating 8Ctlvitles (s88 note 21) 119,920 (23,438) Cash flows from Investing activltle8 ' Proceeds from the sale of langlble fixed assels Purchase of fixed assets Purchase of investments 3.767 (1,913) (4,977) (100 Net cash (used In)Iprovlded by Investlng a¢tlvltl•$ 15,077) 1,854 Cash flows from flnonclng actlvltlg9 Repayments of HP agreements (2,612) (9,580) 19,580) Net cash used In flnanclng actlvllles (2,612) Chang0 In cash and cash oqulvalenls in the year Cash and cash equlvalenls al the beginnlng of the y88r Cash and Cash equlvalents at the end of Ihe yoar 112,231 275,965 <31,164) 307,129 388,196 275.965 The notes on pages 13 lo 28 form part of these financlal statements Page 12
Age UK Thanet Llmltod {A company limiled by guaran188) Noles to the financlal ststemenls For the year ond•d 31 March 2024 General Infomiatlon Age UK Thanel Is a company limSled by guarantee wllh the company reglstrallon number 08398889 end Ihe charlly reglslration number 11 $1398. Th8 address of the reglstered offlce Is Randolph House, Zion Place: Margale, Kent, CT9 1RP, Th8 nature ol th6 charivs operallons and prlnclpal 8cllvilies Is to promole the well-balng of all older people and to mak8 later life a fulfillino and enloyable experience. Accountlng policlos 2.1 Basis of preparation of flnancial statements The flnancl81 slalements have been prepared In accordance with Ihe Charltle8 SORP {FRS 102) Accounting and Reporting by, Charilles: Slatemenl of Recornmended Praclice appllcable to charili8S preparlng Ihelr accounls In accordaneé wllh Ihe Flnanclal Reportlng Slandard applicable In th6 UK and Republic of Ireland IFRS 102) (effectlve 1 January 2019), the Financl81 Reporting Standard appllcable In the UK and Republic of Ireland IFRS 102) and Ihg Companles Acl 2006. Agè UK.Thanel Llmlled meets the definition of a public benefit enllly under FRS 102. Assets 8nd Ilabllitles are Inltlally recognlsed 81 hlstorlcal cost or transaction valu8 unless olherwlse slated in the relevanl accountlng pollcy. The financlal statements are presented in Brilish Sterllng and are rounded to the nearest Pound, 2.2 Golng concern The Trustees assess whelher the use ol golng concern Is approprlale l.e. whelher there are any rnalerlal un¢ertalnll8s r8laled to events or condlllon$ that may casl slgnificant doubl on the abillty of the Charity lo conllnue as a golng concern. The Trustee8 make this es588smenl in respecl of a perlod ol 81188St one year from the dale ol aulhorlsalion for issue of Ihe linancial sla18m8nts and have concluded that the Charlly has adequate r8sourcg5 to conllnu8 in operallon81 existence for Ihe foreseeable fulure and there are no material uncertainlles about Ihe Charltls ability to conllnue as a golng concern. Ihus they ¢onllnue to adopl the going concern baslB ol accoun15ng In prep8rlng the Ilnan¢181 slalements. 2.3 Ineomo All Incomo Is recognlsed once th8 CharSty has ènllllemenl to Ihe Income. 11 Is probable Ihal Ihe income will b8 received and Ibe amount of Income recelvable can be measured reliably. Grants are Included In the Statement of fjnanclal actlvllles on a recelv8bl8 basis. The balance of Sncome recgived for specific pvrposes bul not expended during the perlod is shown In the rolevanl funds on the Balance sheet. whe income 18 received In advance of enllllém8nl of recelpl, Its recognition Is deferred and included In crediloTS as deferred income. Where 8ntSllement occurs before Income Is received, the Incomè Is accrued, Income lax recoverable In relation lo inveslmenl Incom6 Is recogni5ed al the tlme the Investment Income Is receivable. Page 13
Age UK Thanet Llmltgd (A company Ilmlted by guarantee) Notes to the flnanclal statements For tho yfrar ondgd 31 March 2024 Aceountlng pollcles (contlnued) 2.4 Tanglble fixed assets and depreclatlon Tangible fixed assets cosllng £250 or more are capitallsed and recognised when future economic benefits aré probable and the cost or value of Ihe assel can be measured rellably. Tanglble fix8d assets are Inltlally recognlsed at cosl. After recognillon, under the cost model, tangible fixed assols are m888ured al cost less accumulated depreclallon and any 8ccumulaled Impalrment Ioss8s. All costs IT)curred to bring a tangible fixed assel into Its Intended working cxindlllon should be Included In the measurament of cosl. Depreciatlon Is charged so as lo allocate the cost of tanglble fixed assets less Ihelr resldu81 value over thelr estlmated useful live8. Depreclallon18 provlded on Ihe followlng b8sI8'. Fr88hold property Molor vehlcles Office equlpment Compuler equSpment 21AI slralght Ilne 25Vo reducino balance 150/0 reduclng balance 200/0 reduclng balanc8 2.5 Sto¢k8 Slocks are valued al the lower of Cost and net reallsable value after maklng due 811owance for obsolete and slow-moving stocks. Cost Includas all dlrecl cosls and an appropriate proportion of flxed and varlable ov8rheads. 2.6 Debtors Trade and other deblors are r¥cognlsed al the selllement amount after any trade dlscount offered. Prepayments ara valued at the 8mounl prepald net of any trade dlscoun18 due. 2.7 Cash at bank and In hand Cash Bt bank and In hand Indudes cash and short-lerm hlghly Ilquid Investments wllh a short malurlty of Ihree monlhs or less from Ihe date of acqu181tion or opening. of th8 deposit or 8lmi18f account. 2.8 Flnanclal Ingtrurnenls The ChaTlty only has flnanc181 assels and financlal liabllitles of 8 klnd Ihat qvallfy as baslc Ilnanclal Inslrumenls. Baslc flnancl81 inslruments are inill8lly recognlsed al Ir8ns8dion v81ue 8nd Subsequenlly measured at their selllemenl value with the exception of bank loans which are subsequently m6asured al amortised cosl uslng Ihe offecllve InlereBI method. .2.9 Penslons The Charlty operates a defined conlribullon penslon schème and the penslon charge represents the amounls payable by Ihe Charlly to the fund in respect of the year. 2,10 Intèrèst recelvablo Inlerest on funds h8ld on deposit Is Included when recelvable and the amount can b8 measured reliably by lh8 Charily: this Is normally upon nolificallon of the interesl pald or payable by the Inslltullon with whom the funds are deposlled. Paga 14
Agg UK Thanet Llmlted (A company Ilmlt8d by guarantee) Nole6 to the Ilnanclal slalements For th• year ended 31 March 2024 Accountlng pollcley (¢ontlnu•dl 2.11 Llabllltl•s and prov181on Llabllltles are recognlsed when there Is an obllgellon at th8 Balanc8 8h8el date a8 a result of 8 p85l evenl, il Is probable Ihat a transfer of economlc benefil wlll be requlred in settlement, and the amount .of Ihe setllemenl can b8 e61imaled reliebly. Liabililles'are re¢ognls8d at Ihe amounl Ihal th8 Charlly anllclpat85 It wlll pay to settle the debt or the amount It has rec81ved as advanced payments for lh8 goods or servlces It must provlde. Provlslons are measured at the besl 9811male of the amounts requlr8d to sellle Ihe obllgalion, Wh8fe the 8ffecl of the lime value of mon8y Is rnalerlal, the provlslon Is based on the present value of those amounls. discounted at the pr8-lax dlscounl r818 Ihal rellecls the rlsks specific to Ihe liabllily. The unwlndlng of the discount Is recognlsed In Ihe Stslement of finand818cllvilies as a linance cost. 2.12 Taxatlon The Charily 15 consld8red to pass tha tests s81 out In Paragraph 1 Schedule 6 of the Flnance Act 2010 and therefore it m88ts the definlllon of a charllable company for UK corporation tax purposes. Accordingly, the Charfly Is potentially exempl from laxalion in respect of income or capital galns recelv&d wllhln categories covered by Chaptar 3 Part 11 of Ihe Corporatlon Tax Act 2010 or Secllon 256 of the TaxAlion of Chaigeable Galns Act 1992. to the exlenl Ihat such Incom8 or galns are applled exclusively to charilable purposes, 2.13 Expondlturo Expenditure Is recognlsed onGe thara18 a legal or con51rucllv8 obllgation lo transfer economlc ben8flt lo a Ihlrd party, 11 Is probable Ihat a Iransl8r of economlc benellls wlll be requlred In selllement and Ihe amount of the obllgallon can be measured'rellably. Expenditure Is classsfied by acllvily. The costs of each acllvlly are made up of Ihe lolal of dlrecl costs and shared ¢osts, Includlng support costs involved in undertaking each aclivity. Dlrecl cosls allribulabla ID 8 single aclivily 8re allocat8d directly lo thal aclliilly. Shared costs whl¢h conlflbule to mor8 than on8 aclivlty. and support costs whlch are not altribulable lo a slngle aclivily are apportioned belween Ihose acllvities on a basis conslstenl wilh Ihe use of resources. Cerblr81 staff costs are allocated on lh8 basiF of Ilme spent, and depreclallon charges allocated on the portlon of the asset's use. Expendlture on ralslng funds Includes all expendlture Incurred by lh& Charity lo ralse (unds for Its charltable. purposes and Sndudes cosls of all fundralsing aGlivilies events and non-charilable Irading. Expendlture on charltable actlvities Is incurred on dlreclly undertaklng the actfvllles whlch further (he Charllvs oblecllves, as well as any 888ocl8ted support Costs, All expendilure Is inclusive of irrecoverable VAT. 2.14 Gift Aid In the case of a Gift Ald payment made, income Is accrued when the payment Is payable under leg81 obllgalion. Measuremenl Is al the faSr value receivable, whlch wlll noTmally be the Iran5acllon value. Where the righl to reolve Glft Ald has been establlshed, th8 amount receiv8ble Is recognlsed as inveslrnenl Inc(ime In Éhe Statement of financlal acllvilies. Page 15
Age UK Thanet Llmlted (A company Ilmlted by guoranlee) Notes to tho flnoncial statements For thè y&ar ended 31 March 2024 Accountlng pollcles (contlnued) 2.15 Finanee leases and hlre purchase Assets obtained und8r hire purchase contracls and flnance lease8 8r8 capllalised as tanglble fixed assets. Assets acqulred by flnance lease are depreclaled over the shorter of Ihe lease term and thelr useful lives. Assets acquired by hlre purchase are deprecialed over their useful IIv8s. Finance leases are those where subsl8nllally 811 of the beneflls 8nd risks of ownershlp are assumed by lh8 Charlly. Obligations und8r such agr8ernenls arè Included In creditors. net of the finance charge allocated to future perlods. The flnance 818menl of the rental p8ymenl Is charged lo Ihe Slalement of flnanclal acllvllies sg as lo produce a constant perlodlc rale of charg8 on the n&1 oblSgalion oulslanding In each period. 2.16 Fund a¢countlng General fund8 are unre8lrlcled funds whlch 8re avallabla lor use at the dlscretion of Ihe Trustees In furtherance of the ggner81 objecllves of the Charlty and whlch have nol been deslgnated for other purposes. De$lgnated funds coinpr15e unrèslrlcled funds that have beèn s818slde by the Truslee8 for partlcular purposes. The alm and use of each deslgnated lund Is set oul below: Flxed asset fund - repSentS the ftxed assets owned by the charlly, less any loans payable on those as8els. Redundancy fund- repres8nl8 monles deslgnated towards eny future redundancy co818. Re8lrlcled funds are funds whlch are to be used In accordance wllh speclllc restrl¢tlons Imposed by donors or whlch have been r8lsed by the Charliy for partlcular purposes, The costs of ralslng and adrnlnlsterlng such funds ara charged agalnsl Ihe speclfic fund. The alm and use of each reslrlcted fund Ss set out below. KCC Communlly Navlgalor - The communlty navigalor servlce provldes Informallon and guldanca, efflollonal and pracll¢al support, or help access a range of community, health and soc181 care options lo people over 55 years old or are an adult c8rer. Kent Communlty Foundation The funding from the Kent Community Foundalion has ènabled the provlslon of online servlces to Ihe Isolated ahd lonely over 50's In Thanet. Garfleld We51on - We recelved a major donallon towards our Communlty Hub ProJ8cI In Ihe prlor year, which offers slgnific8nt Support lo approx. 125 local people 50+ comlng from all corners of Thanet. Fundlng wa5 prlmarlly allocaled towards salary. shortlalls for our team, who are Invaluable and work extremely hard to support locals with high support needs: The Childwlck Trust - The Childwick Trust has funded a full-lime dementia support worker salary so we hav8 been able to conllnue to offer P8TSOD cenlred dementla care In our bespoke dem8nlSa unll and increase Ihe opening lirnos of th13 service. SEK-COM Fund - SEK-COM provided funding to enable intergr81ion after Covtd, by en8bllng us to provide aclivilies In Ihe Community and one-to-one visits. Thls project c8ased in the prior year. Age UK Herne Bay - We recelved a fundlng conlract for the Demenlia and Me organls8r In the year. 8skCAL SeIce - Garfield Weslon provlded Ihe fyndlng to Continue our new askCAL s8rvlce in a response lo the COVID'19 pandemlc and delivers holistic one to on8 SUPPOrt lo batllolsolatlon and loneliness. Thls was prevlously funded by The Big Lottery Funding. Page 16
Age UK Thanet Llmlled (A company Ilmited by guarantee) Notes to the flnan¢lal statements Forthe year ènded 31 March 2024 Accountlng pollcles {contlnued) 2.16 Fund accounting (contlnuad) Colyer Fergusson Fund - Thls fundlng Is lo enhance thq Information and Advlc8 Servlce. To reach more people who requlre support wilh benelll checks at home and at the Hub. Age UK SKC Cost of Llvlng Fund - To encourage Indlvldua18 to attènd Ihe Hub and access physlcal activities and Clubs. and hav8 free hol drlnks and m8als. To reduce Isolatlon and lonellness and Increase wellbelng boih mentally and physlcally. Kent NHS and Medway Olabete8 Peer Support Programme To provlde Paer To Peer Support to adulls 18 plus who are living wlth Dl8bgles Type 1 and Type 2. To encourage people to support each other and access heallh servlces and s88k advice. Rotary Fund . The Rolary Fund provided a donation to be put towards the Cost ol the Befrlendlng Servlce. Income from danatlon8 and legacles Restrlcted Unrestrl¢ted funds funds 2024 2024 Tot81 funds 2024 Tolal fvnd8 2023 Donations Grants 10,021 192,908 10,021 405,885 25.563 375.540 212,977 212,977 202,929 415,906 401,103 Total 2023 86.488 314.615 401.103 Ineome from charltable actlvltleB Unrestricted funds 2024 Total funds 2024 Tolal fund5 2023 Day Centre 8uddy Boxes 184.846 200,599 184,846 200,599 164.233 171,485 385,445 385,445 335,718 Tolal 2023 335,718 335,718 Page 17
Age UK Thanet Llmlted (A company Ilmlted by guarantfte) Notes lo the flnan¢lal statements For th• year ended 31'March 2024 Income from other tradlng aGlivitle5 Incomq from fundraising events Unrestricted funds 2024 Total funds 2024 Total funds 2023 FundTalslng Shop 7,380 22,229 7,380 22,229 1,368 43,546 29.609 29,609 44,914 Total 2023 44,914 44,914 Investment In¢om• Unr•strlcted funds 2024 Tolal funds 2024 Total funds 2023 Interest recelvable 2,936 2,936 1,219 Tolel 2023 1,219 1,219 Expondlture on ralslng funds Unrestrlcted funds 2024 Total funds 2024 , Total funds 2023 Fundral8lng trading oxpgnseG Charity shop rent Fundralslng expans68 Slock adluslm8nl 8,333 892 (960) 8,333 892 (960) 20,OQO 41 (179) 8,265 8,26S 19,862 Page 18
Age UK Thanet Llmlted . IA company Ilmlled by guaranlee) Notes to the flnanclal statements For the year onded 31 March 2024 Analy818 ol expenditure on charltable actlvlllos Summary by fund type Restrlctod Unreslrlcled funds funds 2024 2024 Total 2024 Total 2023 Day Centre and conlr8cI costs 202,342 534,051 736,393 811,958 Tot812023 101,488 710.470 811,958 Analy$ls of expendlture by acllvltlos Actlvltles undertaken. direclly 2024 Support "costs 2024 Total funds 2024 Total funds 2023 Day Centre and contract costs 623.246 113,147 736,393 811,958 Total 2023 694,584 117,394 811,958 Analy81s of dlrect ¢0St6 Total funds 2024 Tot81 lunds 2023 ActlvStles 2024 staff cosls Deprec18tlon Olhgr staff cosls Mea18 Motor and Iravel Evenls and activllles Laundry and cleaning Other expenses 477,248 22,904 1,723 79,566 23,903 12.182 4,625 1,095 477,24B 22,904 1,723 79,566 23,903 12,182 4,625 1,09S 552.131 22,132 2,383 64.911 23.390 23,101 5,046 1.470 623.246 623,246 694,584 Tolal 2023 694,564 694,564 Pag8 19
Age UK Thanet Llmlted (A company Ilmited by guarantee) Not05 to the flnanclal statements For the year ended 31 March 2024 Analysls of expèndlture by actlvities (¢ontlnued) Analysls of Support costs Total. funds 2024 Total funds 2023 Acllvltl•8 2024 Rates and water Llghl and heat Insurance Computer costs Pramlses r8pairs and malntenance Telephono Postage. slatlonery and advertlslng Travel and subslslence Bad dab18 Accountancy and Indopendenl oxamlnallon fe88 Other goYem8nce cos18 HP Inleresl charge Sundry exp8nse5 Legal and professlonal fees Granls repaid Loss on sale of fixed assal 3,007 22,497 10,460 16,270 10.472 7,878 3,217 7,936 3,007 22,497 10,460 16,270 10,472 7,878 3,217. 7,936 2.950 16,929 9.773 14,187 12.356 11,152 3,071 8,811 4,795 11,406 5.047 725 9,880 4,349 920 1,043 12,616 5,512 48 8,682 3.632 920 12,616 5,512 48 8,682 3,632 920 113,147 113,147 117,394 Total 2023 117,394 117,394 Indopondent oxamlnor's r•munèratlon 2024 2023 Fees payable lo th8 Charllls independent examlner for Ihe Independenl 8X8minallon of Ihe Charlt5 annual accounls 3,800 3,474 Pagè 20
Aga UK Thanet Llmltod (A company Ilmlted by guarantee) Notes to tho flnanclal stal•ment8 For the year ended 31 .fvlarch 2024 staff costs 2024 2023 .Wages and salaries Social 8ecurlly cost8 Conlilbulion to deflnad contrlbutlon penslon schemes 448,529 21,579 7,140 516,595 27,406 8,130 477,248 552.131 The 8verage number of persons employed by the Charity rjurlng the year was as follows: 2024 No. 2023 Employees 33. 38 No employee recelved'remuneratlon emountlng lo more Ihan £60.000 In ellher year. .The Truslees conslder the Board of Trustee8 and Ihe senlor management team comprlse Ihe kay management personnel of Ihe charity in charge of dlreclln9, conlfolllng, running and operallng the charlty on a day to day basls. As delalled b81ow, no Trustees recelved remunerallon during th8 yegr. The remunerallon lo key mana9emenl lolalled £104,680 (2023: £143,837). 12. Truslg8s' remunoratlon and oxp•nsoS Durlng the year ended 31 Marth 2024, no Trusleas received any remuneration or other benefits (2023 - £NILI. During th8 year ended 31 M8rch 2024, no Truslae expens88 have be8n Incurred <2023 - £NIL). . Page 21
Age UK Thanet Llmlted (A ¢ompany1Smllod by guarant99) Notes to the Ilnanclal statemenls For the year endad 31 March 2024 13. Tangible flxed assets Freehold property Motor Flxtur85 and vehlcl85 flttlngs Total Cost or valuatlon Al 1 April 2023 Addlllons 666,261 68,147 93,240 4,977 827,648 4,977 Al 31 March 2024 666.261 68,147 98,217 832,625 Depreclatlon At 1 Apill 2023 Charge for lh8 yaar 79,950 13,325 53,657 3,623 58,887 5,956 192,474 22,904 Al 31 March 2024 93,275 57,280 64,823 215,378 Net book value Al 31 March 2024 572,986 10,867 33,394 617,247 Al 31 March 2023 586,311 14,490 34.373 635,174 14. Stocks 2024 2023 Consumables 2,710 1,750 15. Dobtors 2024 2023 Due within one year Tr8de debloTS Olh8r deblors Prepayments and accrued income 26,130 282 15,504 38,372 6,182 12,362 41,916 56,916 Page 22
Age UK Thanel Llmlled (A company limlted by guaranteo}- Notes to Ihe flnanclal statements For the year ended 31 March 2024 16. Current as8et Investments 2024 2023 Bank deposlt account 75,100 76.000 17. Croditors: Amounts falllng due within one year 2024 2023 Trade.credilors Other t8xalion and soclal securlly Obligatlons under finance lease and hlre purchase contrac18 Other credllor6 Accruals and deferred Income 11,504 5,278 15,396 7,62T 2,612 3,934 7,224 3,114 8,023 27,919 3e,793 Page 23
Age UK Thanet Llmlted (A company limitèd by guaranteo) Notes to the flnan¢lal stslemenls For the year ended 31 March 2024 18. Statement of funds statament of funds - curr•nt year Balance at 31 March 2024 Balance at 1 Aprll 2023 Transfers Inlout Income Expendlture Unrestrlctgd fund8 D88lgnated funds Fixed a6S8t fund Redundancy fund 632,562 25,000 (15,315) 617,247 25,000 657,562 (15,315> 642.247 Gen?ral funds General Fund 330,450 620,919 (542,316) 15,315 424,368 Total Unra8trl¢ted funds 988,012 620,919 1542,316) 1,066,615 Reslrlctèd funds KCC Communlly Navlgator Kent Communlty Foundation Garfield Weston SEK-COM Fund Age UK Herne 8ay Colyer Fergusson Fund Age UK SKC Cost ol Ilvlng fund Kent NHS and Medway Dlabeles Peer Support. programme 50,696 10.000 (50,696) (15,0001 {15,0001 156,501) <24,4951 {9,973) (30,579) 5,000 15,000 56,501 24,495 30,000 30,579 20,027 10,706 (98) 10,608 20,000 212,977 1202,342) 30,635 ' Total of funds 1,008,012 833,896 1744,658) 1,097,250 . Pag8 24
Age UK Thanel Llmlted (A company Ilmited by guarantèe) Notes to the flnanclal statements For the year ended 31 March 2024 18. Slatoment of funds {continuedl statement of funds - prlor year B81anc8 at 31 March 2023 Balance at 1 April 2022 Transfers Inlout Income Expenditure Unrestrlcted fund8 Deslgnated funds Flxed assel lund Redundancy fund 848,738 (16,174) 25,000 632,562 25.000 648.736 8,826 657,562 Gonoral funds General Fund 373.142 896,466 (730,332) (8.826) 330.450 Total Unrestrlcted funds 1,021.878 696,466 (730,332) 9B8,012 Rostrlcted funds KCC Community Navlgator Kent Communlly Foundallon Garfleld Weston Chlldwlck Trust Age UK Herne Bay Age UK SKC Cost of Ilvlng fund Rotary Fund 50.696 5,000 15,000 (50,6961 5,000 15,000 15,000 (15,000) (15.292) (20,000) <500) 15,292 20,000 500 35.000 86,488 (101,488) 20,000 Total of funds 1,056,878 782.954 (831,820> 1.008,012 Page 25
Age UK Thanet Limited IA company Ilmlted by guarantee) Notes lo the tlnanclal stalomonts For the y•ar ended 31 March 2024 19. Summary of funds Summary of funds - current year Balance at 31 March 2024 Balance at 1 Aprll 2023 Tran5fefS Inlout Incomè Expendlture Designated funds General fund8 RestrlGl8d funds 657,562 330,450 20,000 115,315) 15,315 642,247 424,368 30,635 620,919 212,977 1542,3161 (202.342) 1,OOB.012 833,896 (744,658) 1,097,250 Summary of funds- prlor year Balanc8 8t 31 March 2023 Bal8nce al 1 April 2022 Transfers Inloul Income Expendllure De8lgn816d fijnds General funds R8slricled funds 648.736 373.142 35,000 8.826 (8,826) 657,562 330,450 20.000 698.466 86,488 {730,332) {101,488> 1.056.878 782,954 1831,820) 1.008,012 20. Analysls of net assels between funds Analysls of net assels botwean funds - current perlod Restrlcted Unrestrlcted funds funds 2024 2024 Total lunds 2024 Tanglble fixed assets Currenl assets Creditors due within one year 617,247 477,287 (27,9191 617,247 507,922 (27.919) 30,635 Total 30,635 1,066,615 1,097,250 Page 26
Age UK Thanet Llmlted (A company Ilmlted by guarantee) Noles to tho flnanclal statemenls For tha year ended 31 March 2024 20. Anaiysls of not assels between funds (contlnued) 'Analysls of net asso1G between funds - prlor pftrlod Reslricted Unreslrlcled funds funds 2023 2023 Total funds 2023 Tanglblè fixed ass8ts Current ass81s Creditors due wilhln one year 83S,174 389.631 (36,793) 635,174 409.631 {36,793) 20,000 Total 20,000 988,012 1,008,012 21. Reconclllatlon of net movement In funds to net cash flow from operatlng activltles 2024 2023 Net Incomelexpendllure for the perlod (a3 pei Slalefflenl of Flnonclgl Acllvllles) 89,238 (48,866) Adlustments for: Depreciatlon Charges Loss on the sale ol fixed asset$ InGTease In slock8 Decrease in debtors D8cr8ase In crodllors 22,904 25,256 1,043 (179) 10,898 (11,5901 (960) 15,000 {6,262) Net cash provldod byl(used 5n) operatlng actlvllles 119,920 (23,438) 22. Analys18 of cash and cash equlvalents 2024 2023 Cash In h8nd 388,196 275,965 Total cash and ¢a5h equlvalents 388.196 275.965 Pag8 27
Age UK Thanel Limlted IA company Ilmlted by guarantee) Notes to the financlal.statements For the year ended 31 March 2024 23. Analysls of change5 In net debt Al 1 Aprll 2023 Cash flows At 31 March 2024 Cash al bank and In hand FSnan¢è leas88 Llquld Inveslm8nls 275,985 (2,6121 75,ODO 112,231 2,612 100 388,196 75,100 348,353 114,943 463,296 Penslon commltmenls The charity opèr8188 a defined conlrlbullon penslon Scheme. The 8$sèl8 of tha schemé 8r8 held séparalaly from those of Ihe charlly In an Indep8nd8nlly admlnlslered lund. The ponslon cost charge represenls ¢onlrlbulions payable by Ihe charity lo the fund and amountgd to £7,140 (2023 - £8,130). A balance of£1,266 (2023- £1,574) was payable lo th8 scheme al thè balancé sh68t dale and is included In credllors. 25. OparatSng lease commltments At 31 March 2024 Ihe Charlly had commllmenls to make future mlnlmum lease payments und8r non- cancellable operallng lea8es as followg., 2024 2023. Not later th8n 1 yaar 5,000 Followln9 Ihe year end: the charitls lease on It's shop came lo an end, and the charlly dld not renew th8 lease term. 26. Members, Ilablllty Each member of the charllable company undertakes to c¢)ntribule lo the assets of the company In the event of it being wound up while helshe 15 a member, or w41hln one year after helsh8 ceases lo be a member, such arnounl as may b8 requlred, not 8XCe8dlng £1 for the debts 8nd118bllilles conlracled before helshe ceases lo be a member. 27. Related party transactlons The Charity has not entered inlo any relaled party transacllon durlng the y8ar, nor 8re Ih8ré any oulslanding balances owlng between related parties and the Charity 8131 March 2024. Pag8 28