OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2024-03-31-accounts

Company number: 08412045 Charity number: 1152234

AGE UK FAVERSHAM AND SITTINGBOURNE

(A COMPANY LIMITED BY GUARANTEE)

TRUSTEES’ REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

AGE UK FAVERSHAM AND SITTINGBOURNE

CONTENTS

Page
Reference and administrative details 1
Trustees’ report 2
Independent Examiner’s Report to the Trustees 8
Statement of financial activities 9
Balance sheet 10
Notes to the financial statements 11

AGE UK FAVERSHAM AND SITTINGBOURNE

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2024

Trustees Mrs D Jackson (Reed), Chair Mrs L Ferguson, Treasurer Dr E J Wilcox Mr A Horton Mr K Barker Mrs C Robinson Company registered number 08412045 (England and Wales) Charity registered number 1152234 Registered office The Old Fire Station Crescent Road Faversham Kent ME13 7GU Independent Examiner J R Mathieson FCA Lindeyer Francis Ferguson Limited North House, 198 High Street Tonbridge Kent TN9 1BE Principal Bankers Nat West Bank plc 13 Market Place Faversham Kent ME13 7AF

1

AGE UK FAVERSHAM AND SITTINGBOURNE

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024

The Trustees present their annual report and the unaudited financial statements of the charity for the year to 31 March 2024.

The Trustees confirm that the annual report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP), 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). This report is also the Directors’ Report under company law.

Since the charity qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of mediump and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

Transfer UK Kent Rivers on 31 July 2023

All activities transferred to Age UK Kent Rivers (formerly known as Age UK Medway) on 31 July 2023 through a transfer agreement.

Strategic Direction, Challenges and Change

The transfer of Age UK Kent Rivers completed on 31 July 2023. The transfer should bring sustainability and reduce the postcode lottery of services to our community across North Kent, Medway, and Swale.

Structure, governance and management

• Constitution

Age UK Faversham and Sittingbourne is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association.

• Methods of appointment or election of Trustees

Age UK Faversham and Sittingbourne recognises that effective trustee recruitment and training is one of the fundamental principles underpinning its governance.

The charity also recognises that members of the governing body should have a diverse range of skills, experience and knowledge. Furthermore, they should represent stakeholders and service users and aim to reflect the local community.

The recruitment process is undertaken openly with all prospective candidates being given a realistic understanding of the duties involved and the remit and the structure of the charity.

All Trustees are recruited in accordance with the charity's governing document.

• Organisational structure and decision-making policies

One trustee of Age UK Faversham & Sittingbourne is on the board of Age UK Kent Rivers. All future structure and decision-making policies reside with Age UK Kent Rivers.

The charity is a Brand Partner of Age UK and is required to meet the national Charity Quality Standards laid down by them.

2

AGE UK FAVERSHAM AND SITTINGBOURNE

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024

Plans for future periods.

These reside with Age UK Kent Rivers.

Staff and Volunteers

We introduced a death in service benefit for all of our employees under the age of 75 which included access to counselling and 24/7 private GP service for employees and their spouse/dependants.

The charity's work would not be possible without the commitment and contribution made by the enthusiastic volunteers who freely give their time for the benefit of older people in the area.

During the year volunteer recruitment remained a challenge post covid as many “traditional” volunteers have returned to the workplace or have family commitments which means their availability to volunteer is much more limited.

Trustees

All trustees were expected to attend at least one formal training course per year to develop their roles.

Objectives and activities

• Objectives

The objectives of the charity are:

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

• Volunteers

The charity's work would not be possible without the commitment and contribution made by the enthusiastic volunteers who freely give their time for the benefit of older people in the area.

• Main activities undertaken to further the charity's purposes for the public benefit.

The Trustees of the charity have had due regard to the Charity Commission's general guidance on public benefit. The charity's objectives and aims have been reviewed taking this guidance in to consideration and are still deemed to be appropriate.

Achievements and performance

•

Review of activities

While all activities were transferred to Age UK KR on 31 July 2023, throughout the period the main achievements for the public benefit directly supported an estimated 2000 individuals. Some of the activities are described under the following broad headings:

3

AGE UK FAVERSHAM AND SITTINGBOURNE

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024

WELLBEING SERVICES

Wellbeing Centre Activities

The Charity has two centres, one in Faversham and one in Sittingbourne.

The Faversham Centre provides a range of wellbeing services and acts as a hub for local older people and offers wellbeing activities which includes physical activities such as Hula Hooping and Armchair exercises as well as arts & crafts, music-based activities and hot two course lunches. The charity also offers transport to people who find travelling to the centre difficult. This includes vehicles which are fully accessible.

Wellbeing Community Activities/Sporting activities

These activities include group and 1-1 support. These activities are funded in many different ways including partnership working/applications such as Faversham Pools and Supported swimming sessions and include many different activities Walking Football, Walking Netball. We were delighted to agree funding from the KCC Wellbeing Contract via Imago during this period to help support some of these activities. We also support many people on a 1-1 basis with our wellbeing 2 you service. This service is completely bespoke to the individual we support and enables people to continue to enjoy what is important to them and what makes their lives fulfilling.

Information and Advice Services

The service supports people in many ways:

Welfare benefits:

Housing:

Health & Social Care:

Other:

The service is quality assured, and training is undertaken by Advisers and Volunteers to ensure they are up to date with the advice given.

F&S FOOD

We deliver our community meals service across Faversham & Sittingbourne from this location. An investment into electric vehicles and electric bars and heated bags have further supported this service. This service provides valuable wellbeing checks on vulnerable clients as well as ensuring a hot, nutritious, freshly cooked meal is delivered. The person who delivers the meal may well be the only person that our client sees all day and our team also get to know the client’s routines and can raise the alarm if something is not quite right. This has had the impact of raising the alarm when a client has

4

AGE UK FAVERSHAM AND SITTINGBOURNE

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024

fallen and has been unable to open the door for example and in many cases has meant that a UTI has been discovered and treated due to small behaviour changes that might otherwise have been missed. This service has also supported Swale Borough Council’s Household support fund allocation during this year in relation to pensioner support. The service was also an integral part of a partnership working pilot scheme for East Kent Hospitals for post discharge support for older people.

HANDS TO HELP

Hands 2 Help

The service continued to deliver a gardening service to complement the other independent living services it provides and added on a handyperson service this year. The service also includes domestic assistance, shopping, and supported trips (which includes GP and Hospital appointments as well as shopping trips), this service is invaluable to the many people (150) it has supported this year. This service also supported Swale Borough Council’s Household Support Fund and was also used to support the East Kent Hospitals Pilot post discharge support, in particular for services such as key safe fitting and cleaning of properties prior to discharge.

Befriending

We are pleased to have had some funding for this service from Alzheimer’s and Dementia Support Services as part of the post diagnostic dementia wellbeing contracts commissioned by Kent County Council. This funding enabled the service to offer this service more widely for people living with dementia. Part way through the year we were delighted to receive further funding from Imago as part of the commissioned wellbeing service to fund another day a week of this service. This service is offered free to people across Faversham and Sittingbourne and surrounding areas and enables many people to feel less lonely and isolated.

Personalised independence services

This contract is provided in partnership with Age UK Herne Bay & Whitstable and other parties across Faversham only. The contract enables us to employ one coordinator who works closely with Faversham GPs and who is an active attendee of Multidisciplinary Team Meetings where they identify patients who need further support across the community. This contract has been extended for a further year.

SPECIALIST DEMENTIA SERVICES

This service encompasses many strands and has support available to people from pre diagnosis of memory concerns through to more in-depth support where required.

Fountain Specialist Day Care

The Fountain offers a service Monday to Friday supporting those who have a diagnosis of dementia or cognitive impairment. Our aim is to help people stay healthy and independent by providing day opportunities which include taking part in therapeutic and stimulating activities which assist in maintaining independence and allow people to live a healthy and fulfilling life. To help people stay active, we offer a wide range of activities which are tailored around the needs of each person who attends. This service also provides transport to ensure all members have a safe journey to and from the centre, a two-course hot meal and refreshments.

The Fountain is also commissioned on an individual basis by Adult Social Services where they deem the need is required.

(Maintenance Cognitive Stimulation Therapy) MCST

We were pleased to introduce Maintenance Cognitive Stimulation Therapy (MCST) to our services this year with a successful initial funding bid being made to the Age UK National organisation to set up these sessions. We have run the sessions across Sittingbourne and Faversham, and they are run one hour

5

AGE UK FAVERSHAM AND SITTINGBOURNE

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024

a week as a continuation of the initial support given by the NHS. These sessions have been well received and we have delivered 2 x weekly sessions to around 14 people per week who are showing signs of memory loss.

Clients

The ability of clients to remain living independently, for as long as they wish to, continues to be the main focus of the charity's operations.

Across all services, the charity supported almost 2,000 individuals in a variety of ways.

The majority of clients remain aged 65+. Clients were able to give feedback during the year by a variety of means including client forums and feedback survey and impact measurements of services.

Impact was measured in a variety of ways to meet the requirements of our contracted services.

Financial review

Going concern

Age UK F&S transferred to Age UK Medway (now Age UK Kent Rivers) on 31 July 2023. This decision was made due to geographical area, greater funding opportunities and likeminded leadership. Overheads, in particular central staffing costs, for smaller charities can be disproportionately high and grants frequently do not cover these central costs. Transferring to Age UK Medway, and the consequent economies of scale, will have the added advantage of reducing these central overhead costs. Reduced central costs further increases the future security of our services.

The Trustees’ expectation is, transferring to Age UK Kent Rivers will ensure continuing operational existence for the foreseeable future.

Reserves policy

All reserves were transferred to Age UK Kent Rivers on 31 July 2023.

All funds were transferred to Age UK Kent Rivers on 31 July 2023.

Principal funding sources

Despite many years of receiving numerous legacies, donations and core funding, these resources remain on the decline.

The cessation of core statutory grants, and the replacement of these with competitive contracts has driven the charity towards full cost recovery for its main services.

Results for the year

The results for the year are set out within the Statement of financial activities and shows a surplus for the year of £128,231 (2023: deficit of £233,546), with total income of £535,390 (2023: £988,624) and total expenditure of £407,159 (2023: £1,222,170).

Trustees’ responsibilities statement

The Trustees (who are also directors of the charity for ·purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

6

AGE UK FAVERSHAM AND SITTINGBOURNE

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2024

Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the income resources and application of resources, including the income and expenditure, of the charity for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies. Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of Trustees on 16 December 2024 and signed on their behalf by:

Mrs D Jackson (Reed) Chair

Mrs L Ferguson Treasurer

7

AGE UK FAVERSHAM AND SITTINGBOURNE

INDEPENDENT EXAMINER’S REPORT TO THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

I report to the trustees on my examination of the accounts of Age UK Faversham and Sittingbourne for the year ended 31 March 2024.

Responsibilities and basis of report

As the charity’s trustees of the company (and 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 the company’s accounts 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, 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:

  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.

  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 to enable a proper understanding of the accounts to be reached.

J R Mathieson FCA

Date: 20 December 2024

Lindeyer Francis Ferguson Limited North House 198 High Street Tonbridge Kent TN9 1BE

8

AGE UK FAVERSHAM AND SITTINGBOURNE

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024

Note
Income from:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investments
6
Total income
Expenditure on:
Raising funds
7
Charitable activities
8
Total expenditure
Net income / (expenditure)
Transfer of activity
24
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 2024
£
32,434
315,987
3,287
18,686
370,394
27
372,454
372,481
( 2,087)
( 673,563)
( 675,650)
675,650
-
Unrestricted
funds		 Restricted
funds
2024
£
164,996
-
-
-
164,996
-
34,678
34,678
130,318
( 146,564)
( 16,246)
16,246
-		 Total
funds
2024
£
197,430
315,987
3,287
18,686
535,390
27
407,132
407,159
128,231
( 820,127)
( 691,896)
691,896
-		 Total
funds
2023
£
181,378
728,216
38,468
40,562
988,624
26,680
1,195,490
1,222,170
( 233,546)
-
( 233,546)
925,442
691,896

All activities are discontinued activities.

The statement of financial activities includes all gains and losses recognised in the year.

9

AGE UK FAVERSHAM AND SITTINGBOURNE

(A company limited by guarantee)

BALANCE SHEET AS AT 31 MARCH 2024

Note
Fixed assets
Tangible assets
13
Investment property
14
Current assets
Stocks
Debtors
15
Cash at bank and in hand
Creditors:amounts falling due
within one year
16
Net current assets
Creditors:amounts falling due
within one year
17
Total net assets
The funds of the charity:
Unrestricted funds
Restricted funds
18		 2024
£
-
-
16,100
16,100
( 16,100)		 2024
£
-
-
-
-
-
-
-
-
-		 2023
£
1,372
93,574
368,455
463,401
( 67,959)		 2023
£
296,361
51,930
348,291
395,442
( 51,837)
691,896
675,650
16,246
691,896

The charity's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The trustees consider that the charity is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the charity to obtain an audit for the year in question in accordance with section 476 of the Act.

The trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements were approved by the Board of Trustees on 16 December 2024 and were signed on its behalf by:

Mrs D Jackson (Reed) Company number: 08412045

Mrs L Ferguson

10

AGE UK FAVERSHAM AND SITTINGBOURNE (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1 ACCOUNTING POLICIES

Basis of preparation of the financial statements

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 (FRS 102)" (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Age UK Faversham and Sittingbourne meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

The financial statements are presented in pounds sterling and rounded to the nearest pound.

On 31 July 2023 the activities of the charity were transferred to Age UK Kent Rivers (formally Age UK Medway) (company number: 06876354, charity number:1133023) as part of a transfer agreement. From 1 August 2023, the activities of Age UK Faversham and Sittingbourne are run through Age UK Kent Rivers.

Going Concern

The going concern basis is not applicable due to the cessation of all of the charity's activities. No adjustments are required in respect of the change in basis.

Income

Income from donations and grants is recognised when the charity is entitled to the funds, the receipt is probable and the amount can be measured reliably. For donations, this is usually on receipt. For grants, this is usually when a formal offer is made in writing, unless the grant contains terms and conditions outside of the charity's control which must be met before the charity is entitled to the funds, in which case the income is recognised when the conditions have been met. Where grants are received in response to a proposal including a budgeted timescale, such that the timescale for the expenditure is implicit in the grant agreement, the income is recognised in accordance with that timescale.

Income from legacies is recognised when, the charity is entitled to the income, there has been a grant of probate, the executors have established that there are sufficient assets in the estate to pay the legacy, any conditions attached are within the control of the charity or have already been met and the amount can be measured reliably.

Income from charitable activities is recognised in the period in which the relevant services are delivered. Income from performance-related grants in connection with the charitable activities is recognised to the extent that the performance-related criteria have been met.

11

AGE UK FAVERSHAM AND SITTINGBOURNE (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1 ACCOUNTING POLICIES continued

Expenditure

Expenditure is recognised on the accruals basis when a present legal or constructive obligation exists at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefits will be required to settle the obligation, and the amount can be estimated reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use.

Expenditure on raising funds includes all expenditure incurred by the charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

Fund accounting

General funds are unrestricted funds which can be used in accordance with the charitable objectives at the discretion of the Trustees.

Designated funds are a subset of unrestricted funds and represent funds set aside by the Trustees for specific future purposes or projects.

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 purposes.

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated realisable value of each asset over its expected useful life, as follows:

Freehold land Not depreciated Freehold buildings 2% on the straight line basis Motor vehicles 20% on the reducing balance basis Fixtures and fittings 25% on the straight line basis

Assets costing less than £1,000 are not capitalised but are recognised as expenditure in the Statement of Financial Activities in the year incurred.

12

AGE UK FAVERSHAM AND SITTINGBOURNE (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1 ACCOUNTING POLICIES continued

Investment property

Investment properties are initially recognised at cost and subsequently measured at fair value. Fair value has been determined from an external valuation report for the whole property, with the element of investment property being calculated based in square foot. This is the main accounting estimate requiring significant judgement to be exercised. Changes in fair value are recognised in the statement of financial activities.

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

Financial instruments

The charity only has financial instruments of a kind that qualify as basic financial instruments. Short term basic financial instruments such as trade debtors and trade creditors are initially recognised at transaction value and subsequently measured at their settlement value. Long term basic financial instruments such as bank loans initially recognised at transaction value and subsequently measured at amortised cost using the effective interest method.

Leases

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the lease term.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

Payments to defined contribution pension schemes are charged as an expense as they fall due.

Critical accounting estimates and areas of judgement

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

They key source of estimation uncertainty at the balance sheet date relates to the property valuations. The trustees have reviewed the property valuation obtained and made an estimate as to their fair market value at the year end.

2 STATUS

Age UK Faversham & Sittingbourne is a company limited by guarantee with the company registration number 08412045 (England and Wales) and the charity registration number 1152234. The address of the registered office is The Old Fire Station, Crescent Road, Faversham, Kent, ME13 7GU.

13

AGE UK FAVERSHAM AND SITTINGBOURNE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

3 INCOME FROM DONATIONS AND LEGACIES

Donations
Legacies
Grants
In the preceding period, income of £109,354 was restricted.		 2024
£
1,492
-
195,938
197,430		 2023
£
11,734
22,732
146,912
181,378

4 INCOME FROM CHARITABLE ACTIVITIES

Wellbeing services
F&S food
Dementia services
Hands to Help		 2024
£
130,480
64,083
72,778
48,646
315,987		 2023
£
203,995
194,818
192,404
136,999
728,216

5 INCOME FROM OTHER TRADING ACTIVITIES

Fundraising events
Staff recharges
Other income
INCOME FROM INVESTMENTS
Rent receivable
Deposit account interest		 2024
£
544
1,774
969
3,287
2024
£
17,294
1,392
18,686		 2023
£
8,827
27,731
1,910
38,468
2023
£
38,774
1,788
40,562

6 INCOME FROM INVESTMENTS

14

AGE UK FAVERSHAM AND SITTINGBOURNE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

7 EXPENDITURE ON RAISING FUNDS

EXPENDITURE ON RAISING FUNDS
Staff costs
Consultants and freelancers
Printing, postage, stationery and telephone
Legal and professional fees
Other costs		 2024
£
-
-
27
-
-
27		 2023
£
2,620
20,799
229
55
2,977
26,680

8 EXPENDITURE ON CHARITABLE ACTIVITIES

Wellbeing services
F&S food
Dementia services
Hands to Help
Wellbeing services
F&S food
Dementia services
Hands to Help		 Direct
costs
2024
£
9,932
34,866
8,047
5,677
58,522
Direct
costs
2023
£
32,166
155,605
17,331
15,191
220,293		 Direct staff
costs
2024
£
76,523
50,105
45,475
54,529
226,632
Direct staff
costs
2023
£
191,893
130,496
103,897
121,170
547,456		 Support
costs
2024
£
36,982
36,347
22,895
25,754
121,978
Support
costs
2023
£
124,831
159,397
67,541
75,972
427,741		 Total
2024
£
123,437
121,318
76,417
85,960
407,132
Total
2023
£
348,890
445,498
188,769
212,333
1,195,490

In the preceding period, expenditure of £124,772 was applied to restricted funds.

15

AGE UK FAVERSHAM AND SITTINGBOURNE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

9 DIRECT COSTS

Catering costs
Consultants and freelancers
Motor and travel expenses
Staff training
Staff welfare
Premises costs
Computer costs
Printing, postage, stationery and telephone
Bank charges and interest
Bad debts
Other costs
10 SUPPORT COSTS
Staff costs
Catering costs
Consultants and freelancers
Motor and travel expenses
Staff training
Staff welfare
Premises costs
Insurance
Computer costs
Printing, postage, stationery and telephone
Bank charges and interest
Bad debts
Depreciation
(Profit) on disposal
Other costs
Governance costs:
Legal and professional fees
Audit and accountancy
Independent Examiners' remuneration		 2024
£
33,390
-
16,106
-
-
2,025
359
3,386
20
630
2,606
58,522
2024
£
45,929
-
5,452
330
1,970
432
19,800
4,040
10,849
4,710
2,703
16
8,411
( 250)
12,286
2,900
-
2,400
121,978		 2023
£
134,660
9,243
46,632
1,155
153
5,945
1,012
10,064
244
746
10,439
220,293
2023
£
220,553
1,173
23,754
1,260
270
4,357
49,471
11,132
35,135
13,721
7,812
81
29,358
( 5,296)
16,146
5,194
13,620
-
427,741

16

AGE UK FAVERSHAM AND SITTINGBOURNE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

11 NET INCOME / (EXPENDITURE)

NET INCOME / (EXPENDITURE)
Net income / (expenditure) is stated after charging / (crediting):
Operating lease rentals
Auditors remuneration
Independent Examiners' remuneration
STAFF COSTS
Gross salaries
Employer's National Insurance contributions
Employer's pension contributions		 2024
£
4,654
-
2,400
2024
£
255,571
12,919
4,071
272,561		 2023
£
16,526
13,620
-
2023
£
713,976
45,220
11,433
770,629

12 STAFF COSTS

The average number of persons employed by the charity during the year was 46 (2023: 47).

No employee received remuneration amounting to more than £60,000 in either year.

13 TANGIBLE FIXED ASSETS

Cost
At 1 April 2023
Additions
Transfer of activity -Note 24
At 31 March 2024
Depreciation
At 1 April 2023
Charge for the year
Transfer of activity -Note 24
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023		 Freehold
property
£
270,279
-
( 270,279)
-
35,000
1,501
( 36,501)
-
-
235,279		 Motor
vehicles
£
77,762
10,700
( 88,462)
-
29,278
3,505
( 32,783)
-
-
48,484		 Fixtures.
fittings &
equipment
£
112,725
-
( 112,725)
-
100,127
3,403
( 103,530)
-
-
12,598		 Total
£
460,766
10,700
( 471,466)
-
164,405
8,409
( 172,814)
-
-
296,361

17

AGE UK FAVERSHAM AND SITTINGBOURNE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

14 INVESTMENT PROPERTY

Market value
At 1 April 2023
Transfer of activity -Note 24
At 31 March 2024		 Freehold
property
£
51,930
( 51,930)
-

The freehold property was valued on 26 September 2022 by a RICS qualified surveyor, on an existing use basis.

The historical cost of the investment property is £11,808.

15 DEBTORS

Trade debtors
Prepayments and accrued income		 2024
£
-
-
-		 2023
£
64,622
28,952
93,574

18

AGE UK FAVERSHAM AND SITTINGBOURNE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

16 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Bank loans
Trade creditors
Due to Age UK Kent Rivers
Other taxation and social security
Other creditors
Accruals and deferred income
Deferred income:
Deferred income brought forward
Released in the year
Deferred income arising during current year
Deferred income carried forward		 2024
£
-
-
13,700
-
-
2,400
16,100
10,072
( 10,072)
-
-		 2023
£
4,405
23,924
-
12,247
7,991
19,392
67,959
72
-
10,000
10,072

Deferred income relates to grant income received in advance of specified time conditions.

17 CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Bank loans: long term 2024
£
-
-		 2023
£
51,837
51,837

19

AGE UK FAVERSHAM AND SITTINGBOURNE (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

18 MOVEMENT ON FUNDS

CURRENT YEAR
Restricted funds
Dementia cafés
Swale Cost of Living Fund
Warm Homes Project
Club Cycling UK
National Energy Action
National lottery
Other restricted funds
Unrestricted funds
General fund
Designated funds:
Fixed asset fund
Redundancy fund
Building fund
IT Sales Force fund
Total funds		 Brought
forward
£
5,926
1,077
4,968
2,525
-
-
1,750
16,246
130,137
348,291
140,438
50,000
6,784
675,650
691,896		 Income
£
-
20,000
-
-
9,996
135,000
-
164,996
370,394
-
-
-
-
370,394
535,390		 £
£
( 2,380)
( 3,546)
( 5,529)
( 15,548)
( 552)
( 4,416)
( 311)
( 2,214)
( 9,996)
-
( 15,000)
( 120,000)
( 910)
( 840)
( 34,678)
( 146,564)
( 361,874)
( 138,657)
( 8,411)
( 339,880)
( 140,438)
( 50,000)
( 2,196)
( 4,588)
( 372,481)
( 673,563)
( 407,159)
( 820,127)
Transfers,
gains/losses -
Note 24
Expenditure		 Carried
forward
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-

20

AGE UK FAVERSHAM AND SITTINGBOURNE (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

18 MOVEMENT ON FUNDS continued

PRIOR YEAR
Restricted funds
Dementia cafés
COMF Electric People
Carrier
Swale Self-Isolation Fund
Staff Wellness Grant
Walking Football Fund
ICF
East Kent Strategy PPE
Grant
Walking Netball Fund
Swale Household Support
Fund
Swale Cost of Living Fund
UK Community Renewal
Fund
Warm Homes Project
Club Cycling UK
Volunteer Recruitment
Programme
Other restricted funds
Unrestricted funds
General fund
Designated funds:
Fixed asset fund
Redundancy fund
Building fund
IT Sales Force fund
Total funds		 Brought
forward
£
8,730
32,866
20,339
650
1,311
84
338
12
-
-
-
-
-
-
2,694
67,024
358,633
344,075
125,374
15,336
15,000
858,418
925,442		 Income
£
-
-
-
-
5,000
-
-
-
71,500
7,016
8,813
5,000
2,525
3,750
5,750
109,354
879,270
-
-
-
-
879,270
988,624		 £
£
( 2,804)
-
-
( 32,866)
( 20,339)
-
( 650)
-
( 6,311)
-
( 84)
-
( 338)
-
( 12)
-
( 71,500)
-
( 5,939)
-
( 8,813)
-
( 32)
-
-
-
( 3,750)
-
( 4,200)
( 2,494)
( 124,772)
( 35,360)
( 1,065,120)
( 42,646)
( 24,062)
28,278
-
15,064
-
34,664
( 8,216)
-
( 1,097,398)
35,360
( 1,222,170)
-
Expenditure
Transfers,
gains/losses		 Carried
forward
£
5,926
-
-
-
-
-
-
-
-
1,077
-
4,968
2,525
-
1,750
16,246
130,137
348,291
140,438
50,000
6,784
675,650
691,896

21

AGE UK FAVERSHAM AND SITTINGBOURNE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

19 MOVEMENT ON FUNDS continued

Material restricted funds are as follows:

COMF Electric People Carrier

This funding was received for the costs of the people carrier and associated staff and running cost. As the vehicle has been acquired and all other costs spent, the remainder has been transferred the designated fixed asset fund.

Swale Self-Isolation Fund

This fund covered costs for senior staff to continue working during self-isolation for the purpose of business continuity.

Swale Household Support Fund

This fund covers the purchase of food for vulnerable clients.

Material designated funds are as follows:

Fixed asset fund

These are funds set aside due to the illiquid nature of the building asset it relates to

Redundancy fund

This designated fund was created in the comparative period to allow for staff redundancy provision in the event of the charity being wound up.

Building fund

This is money set aside for any emergency repairs, including a roof which will need replacement at some point in the near future.

IT Sales Force fund

This is an amount set aside until the new IT Sales Force system is fully operational.

22

AGE UK FAVERSHAM AND SITTINGBOURNE

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

20 ANALYSIS OF NET ASSETS BETWEEN FUNDS

CURRENT YEAR
Tangible fixed assets
Net current assets
Creditors: amounts falling due after one year
PRIOR YEAR
Tangible fixed assets
Net current assets
Creditors: amounts falling due after one year		 £
-
-
-
-
348,291
379,196
( 51,837)
675,650
Unrestricted
funds		 Restricted
funds
£
-
-
-
-
-
16,246
-
16,246		 Total funds
£
-
-
-
-
348,291
395,442
( 51,837)
691,896

21 PENSION COMMITMENTS

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £4,071 (2023: £11,433). The liabilities of the charity were transferred to Age UK Kent Rivers as set out in Note 24.

22 FINANCIAL COMMITMENTS

At 31 March 2024 the charity was committed to future minimum lease payments under non-cancellable operating leases as follows:

operating leases as follows:
2024 2023
£ £
Due within one year - 5,140
Due in two to five years - 2,520

23

AGE UK FAVERSHAM AND SITTINGBOURNE (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

23 RELATED PARTY TRANSACTIONS

The key management personnel are considered to be the trustees, Clare Burgess (CEO) and Claire Ives (Head of Client Services).

There were no trustees' remuneration, reimbursed expenses nor other benefits during the current or preceding period.

The total amount of employee benefits (including employer's pension contributions) received by key management personnel during the year was £45,899 (2023: £87,867).

During the year purchases were made from Baldy Butchers, an entity which a member of the key management personnel has significant influence, totalling £7,999 (2023: £25,374). At the year end a balance of £nil (2023: £1,996) was due to the entity.

24 TRANSFER TO AGE UK KENT RIVERS

On 31 July 2023 Age UK Faversham and Sittingbourne entered into an agreement to transfer all activities to Age UK Kent Rivers. The breakdown of the transfer is show below:

Fixed assets
Current assets
Current liabilities
Net assets transferred		 £
350,582
495,072
( 25,527)
820,127

In accordance with the terms of this agreement all activity from 1 August 2023 is now undertaken by Age UK Kent Rivers.

All assets and liabilities were immediately transferred on this date other than an escrow bank balance of £20,000, which is to be used to cover remaining liabilities in the charity. The remaining balance on this account at 31 March 2024 was £16,100. These funds are controlled by Age UK Kent Rivers, and once final liabilities are settled, the balance will transfer to this charity.

24