Charity number.. 1155211 Age UK Sheppey CIO Trustees. report and financial statements for the year ended 31 March 2021
Age UK Sheppey CIO Contents Page Reference and administrative detalls of the Charity. its Trustees and Advisers Trustees. report Independent auditor's report on the flnancial statements Statement of financlal aGtivities 10-13 14 Balance Sheet Statgment of cash flows 16 Notes to th& financial Statements 17-33
Age UK Sheppey CIO Referen¢9 and administratlve detalls of the Charity. its Trustggs and Advisers for the ygar ended 31 March 2021 Trustoes Mr A Doucy, Chair Mr N Martin Mr P Taylor. Vice Chair Mr P Murray Mrs S Wigglesworth Charity registered number 1155211 Princlpal offiGg 43 Trinity Road Sheerness Kent ME12 2PF Chief executiva officer Mrs K Moore Independent auditor Kreslon Reeves LLP Chartered Accountants Statutory Auditor Montague Place Quayside Chatham Maritime Chatham Kent ME4 4QU Bankers Barclays Bank 12 Broadway Sheerness Kent ME12 1AE Page 1
Agg UK Shoppey CIO Trustees. report for the year ended 31 March 2021 The Trustees presenl their annual report together with the au¢Yiled financial statements of the Charity for the year from l April 2020 10 31 March 2021. Objectives and activities a. Pollcies and objectives The Chariws aim is lo increase the reach of Age UK Sheppey CIO, enabling more people lo access beneficial support, to promote the wellbeing of all older people and lo make later life a fulfilling and enjoyable experience. Key objectives are lo.. Maintain and continue lo develop ou21ity social opportunities. Continue developing OL*r core community services inciLJding home support, meals delivery, befriending, companionship and virtual support groups and lo support more people in their own homes assisting them lo l¢ve independently for longer. Increase the capacity of service users on our Information and Advi service. Listen lo older people. idenirfying their needs lo be able to offer person-cenlred support wherever possible. Expand upon existing services as well as establish new wellbeing services lo meet identified needs e.g. people with a cognitive impairment. suffering ill-heallh, disability, feeling socially isolated. facing financial hardship, elc. Expand upon the number of volunteers supporting our services. Remain compliant a5 well as taking reasonable measures lo ensure we are as Covid-19 Secure as practically possible, mitigating risk wherever possible. In selling objectives and planning for activities, the Trustees have given due consideration lo general guidance published by the Charity Commission relating lo public benefit, including the guidance 'Public benefit.. rnnning a charity IPB2J'. b. Strategies for achieving objectives To enable us lo achieve our objectives to a wider audience, we have adopted 8 number of slralegies to assist us, including.. Working clogely with an extensive array of local organisalions to wlleclively provide more coherent and coordinated support for older people, their carers and families in our local community. Working in partnership with our local GP surgerie5 {Sheppey PTimary Care Nelworkl, Community Navigators and KCC Community Warderks to share resources, signpost lo a wide range of community ini1181ives and link like minded people together lo help reduce loneliness and isolation. Contsnue to work closely with our Kent Age UK'S l Age Concerns as we remain facing challenges with local government Kent County Council grant funding. Seeking external fur)ding lo assist and enhance both our in-house cenlre-based and commLtnity services on offer. Continue lo recruit and retain multi-skilled staff ar>d volunteers lo enhance end strengthen our existing team including providing appropriate training and development opportunilEs for them all. Page 2
Age UK Sheppey CIO Trustees. report {continuedl for the year ended 31 March 2021 Objectlves and activltles l¢ontinuedl Maintaining both our ISO 9001.'2015 and Age UK'S Charity Quality Standards Certifications which as recognised by Charity Commission and have been upheld by our organisalion since 2014 undergoing regular inspections. Our ongoing strategy very much includes promoting greater awareness of the seNices that Age UK Sheppey CIO can provide in order lo ensure we have a greater impact within our local community. We continue lo raise our profile with the aid of local press. radio stations, working collaboratively with local businesses and similar organisalions as well as ulilising our own social media siles and website reSoUrs. AlongsKJe developing our existing services, we continue lo explore the introduction of additional services In conjunction wlh our current activities offered and which can provide addett benefit lo all service users. Follow and comply with 18lesl government I Public Health England l NHS guidelines in respect of Covid-39 wherever possible. c. Actlvlties undortaken to achieve objectives Day ServIs - in¢luding social day clubs, dementia support, foolcare, and hearing aid battery exchange. Dropin clinics, regular activity events. escorted day trips. hearing aid cliniG5 and computer clubs were suspended due lo Covid-19 reslriclions. Community Services - Including freshly cooked, homemade hol and cold meals delivery, home support, reslricled level of companionship. shopping and prescription colleclionsldeliveries and welfare callslvisils. Dementia cafes, befriending, non-essential home support Galls and companionship calls were suspended during Covid-19 reslriclions. Information and Advice appointments available in person (following Covid-19 guidelines), over the telephone or by virtual means. Virtual Support Groups- set up as a resum of our day cenlres being suspended during Covid-19 restrictions. Marketing and advertising our services via local press and radio, leaflet dislribulion, collection lins held by local businesses and key eslablishmenls, working in collaboration with other similar networking groups, as well as utilising our own website and social media oullels. Actively working in conjunction with similar organisalions including Sheppey Primary Care Nerk. Imago, Sheppey Dementia Friendly Community, Lighthouse Group, Sheppey Community Development Forum, and local council focus groups to raise awareness and make improvements lo support and aid all local residents. Regular in-person meetings suspended during Covid-19 restrictions and necessary activities moved lo virtual means. Fundraising events and activities. raffles and donations. Limited opporlunilies for events and activities lo lake place due lo Covid-19 re51riclions. Volunteering including recruiting individuals both on a regular and ad-hoc basis. Due lo Covid-19 reslriclions, our usual process of providing placements for HMP Slandford Hill's 'Working Out Scheme, and providing regular work experience for local schools, colleges and university students pursing a wide range of health ar>d social care: social work or nursino qliiAieo +4>n)hnrsrpl Regular internal and external reviews of all services by means of regular meetings for management teams. departmental teams and volunteers. Our regular User Group (comprising of 5-6 key clients appointed to represent the others) meetings and regular satisfaction surveys I feedback forms carried out with both service users al home and in our cenlres were suspended due lo Covid-19 restrictions. Covid-19 compllanl measuTrs pul in place throughout OUT day cenlres and across all our community seNi¢es Page 3
Age UK Sheppey CIO Trustees. report {¢ontlnued} for the year ended 31 March 2021 ObJtIVeS and actlvities {continued) d. Impact The Isle of Sheppey is located off the northern coast of Kenl, made up of six main electoral wards and covers an area of 36 square miles, Sheppey suffers from a high proportion of deprivation and isolation along with lack of employment opportunities, communty facilities, insufficient infraslruclure with a rather sporadic public transport system. It is estimated 8round 230A of Sheppey's population is over 65, wilh around 30/0 being over 85 and is a popular retirement location. The number of people reaching out lo Age UK Sheppey increases year on year wlh demand on our services becoming more and more siretched due lo reslriclive funding available. With such a vast area lo cover across Sheppey along with Quite often feeling like a dosed off community from the mainland, il is apparenl how our services are critical lo I(al residents. We are told on a regular basis how we provide a much needed lrfeline, not only direct lo service users, but also their families and friends too. With our team being readily available, we are able to help relieve tension and worry by providing a 'one slop shop. empowering older peoiple and providing them with the tools and skills lo live independently for longer. Wilhoul our core services on offer and the social opporlunilies we provide. we have no doubl many older people living on Sheppey would quickly feel lonely and isolated stuck indoors with limited or, in some cases, nowhere suitable for them lo go. Our clubs provide a day fi51ed with fun, laughter, 8ctivilies and companionship, which is known lo help with ment81 and physical health as well as their wellbeing meaning fewer people needing access lo and pulling an ever-incre8sing strain on local 8Uthorily services. With the added impact of Covid-19, our core cenlre-based services suffered primarily due to national lockdown reslriclions in place, but alongside us taking reasonable measures, tracking our local Covid-19 rale in SwaSe on a daily basis and making the decision to close our doors in March 2020. Ineome revenue was severely h¢t, although we were fortunate to receive a proportion of emergency Covid-19 funding allowing us lo retain full staff, avoid furlough measures and adapt our services accordingly. We remain comfflitled lo serving our local community in the best way we can and are always looking for ways to improve upon services offered. Funding opportunities ale crucial lo us maintaining a high calibre of service along with allowing the opportunity lo expand with new projects meetirig current community needs and demands. We always welcome the opportunity lo work alongside and in conjunction with other extern81 organisalions, increase our outreach and knowing that together we can make a real dtfFeTence on Sheppey. Achievements and perfomiance Review of artivities Our services are accessible to those aged 50 years and over and, through achievements for the public benefrt, we supported an estimated 2.448 in(5ividuals by way of them accessing one of our many services included wlhin the following broad headings.. Day Services Age UK Sheppey CIO operate from 2-day cenlres on the Isle of Sheppey,. Rosemary House being the largest based in the main town of Sheerness and Roxelh is a smaller centre in Bay View serving Sheppey East aa. Both cenlres provide a suitable range of social opporlunilie5 and well-being services Monday to Friday (excluding Bank Holidays) and our Rosemary House Centre acts as a community hub for l(Kal. older people. especially during Covid-19 lockdowns when the vast majority of other local venues were closed. Due to Covid-19 reslriclions, centre-based services were suspended al both cenlres on 17th Mareh 2020. Rosemary House Centre only reopened for a period on 3-weeks during October 2020, bul due lo the severity of lo¢al Swale rales being so high, services were suspended once again and reviewed in April 2021. Page 4
Age UK Sheppèy CIO Trustees. rgport {continued) for the year ended 31 March 2021 Achievements and performancè Icontlnued) Day Clubs Activities offered across both centres with a dedicated team on hand lo facilitale this servi. Suitably adapted wheelchair friendly vehicles are available providing door-l04oor transport, rf required, and many clients allend on a walk-in basis. We provide a small breakfast menu as well as serving a hol two-course lunch each day and wll cater for special dtary needs wherever possible. Footcare Our chiropody service is operated by a Foot Health Care Professional every Monday lexcluding Bank Holidays). Equipment Hire- Wheelchairs and portable commodes are ld weekly for a small nominal fee with a general increase in demand during seasonal holiday periods. Hèaring Aid Battery Exchange - Free service offering battery exchange (new for used) upon producing your NHS ballery exchange book. Community Seivices Meals Delivery Service - Demand on our freshly cooked hot Iwo-course delivery setvices has seen a 2850 increase in the psst year delivering 16,220 hol meals lo people in their own homes along with 1,059 take-away frozen meals and 1.841 snack packs. Wherever possible, food used is sourced locally and we can cater for most special dielary requirements, including food allergies andlor intolerances, offering suitable allernalives. Well balanced nulrilional week5y manus are produced by our kitchen team and deliveries lo those living in sheltered housing has continued reflecting the trend of supporting the more vulnerable. Home Support and Companlonship - This holistic service provides an extensive range of domestic tasks helping lo support service users remain independent and the continued employment of a dedicated coordinator and administrator has continued to play a pivolal role mainlairning the high calibre of service. Packages are tailored lo meet specific needs and we carr5ed out in excess of 8,196 operational hours 8¢ross this service which is a 90/D increase on the previous year. Shopplng and Prescription Collections l Deliveries - This service was sel up late March 2020 in response to Covid-19 pandemic and we supported in excess of 420 shopping and 301 prescription colleclionsldeliveries. Welfare Calls and Visits - This service was sel up mid-march 2020 when both our day centre services were suspended and Covid-19 reslriclions in place. Welfare calls and visits were conducted either in person (socially distanced), over the phone or by virtual means. We supported in excess of 3,315 telephone welfare calls, 2.895 welfare visits and over 260 virtual checks. Virtual Support Club - This seNice was sel up June 2020 in response lo Covid-19 pandemic and our centre- based day services being suspended. Even though we were unable to facilitate clients enjoying a day of activities al our cenlres, we run daily 2-hour sessions by virtLtal means (Zoom) which allowed us to keep them engaged. their minds active and would help with their overall wellbeing whilst being al home. Our sessions proved popular with 2,051 virtual club allendances from June 2020 to end of March 2021. We also purchased suitable IT equipment liPads wtlh sim cards) lo loan out to those wishing lo join the Qlub, bul with no means lo facililale activity from their own homes. Dementia Services Cogs Club - For those wrth a mikl lo moderate dementia diagnosis providing a day of purposeful activity and stimulation with an aim lo helping maintain active minds and bodies. Two clubs held each week with around 6 attendees in each group. Page 5
Age UK Shgppey CIO Trustees. report {continugdl for the year ended 31 March 2021 Achievements and perfomiance l¢ontSnued) Information and Advice Service The free service offering confidential and impartial advice on welfare benefits and all associated aspects to service users, their families. carers and the wider cornmvnity on Sheppey. Both home visits and centre gppoinlmenls are made full Covid-79 reslriclions adhered lo and only the most essential visits were completed in person - other completed over the telephone or by virtual means. All visits are made for older people requiring initial assistance lo understand their entitlements and the subsequently completing the form filling process. Over the course of the year we made 697 contacts securing a high volume of funding benefits through services including benefit checks, Attendance Allowance, Dissbilily Living Allowance, Pension Credit, Personal Independence Payment, Housing Benefit, Council Tax Disregards and Benefits. EON Warm Homes Project. Blue Badge applications as well as other ad-hoc form filling. Voluntèering Our dedicated volunteers continue lo provide invaluable support lo our clients, staff and services although many of our volunteering pool were unavailable to carry out their normal duties due lo Covid-19 reslriclions. We would also normally benefit from having gUlar additional support provided through HMP Stsndford Hill 'Working Out Scheme,, although this Servi was also suspended due lo Covid-19 reslriclions. Organisation We continue lo participate in working collectively with Kent Age UK'slConcerns and others associated within the Kent Consortium as KCC evolves ils policy towards contracting its support for older people. We also continue lo participate in developing a joint approach with other Age UK'S lo demonslrale the impact of our activities for older people across Kent. We upheld our ISO.'9001 2015 accreditation in November 2020 as well as Age UK'S Charity Quality Standards carried out by ACS Registrars. Cloud-based client management syslem, People Planner, is up and runnir¥J within our Home Support service which also assists with day-tQ-day rostering and team dalé management. Due lo Covid-19 reslriclions, the following services were suspended from April 2020 to March 2021.. Walk-ln Lunch Club - home cooked meal. allowing people the option of spending 2-hours engaging with others whilst enjoying a Dementla Day Break Club - Held every Monday al Rosemary House Centre and is hosted by a dedicated member of staff and volunteer. Freshly cooked two-course lunch and refreshments included. Dynamos Club - Held every Wednesday at Rosemary House Centre for younger people with early on-set dementia diagnosis at is hosted by a de(licaled member of staff and volunteer. Freshly cooked two-course lunch and refreshments included. Dementla Drop-ln Clinles - Held monthly as one-stop clinic attended by health care profession815 along with many other useful service representatives offering free support and guidance lo carers and those cared for. Dementia Cafes Established in designated accessible areas across Sheppey to ensure there is maximum coverage as we appreciate not all service users have their own transport and local public transport can be inlermillent. A dedicated team member would facilitate each session providing social opporlunilies mainly aimed al people caring for a loved one wilh dementia. The cafes provide a welcoming space lo drop by, have a chat, make friends and exchange experiences. Page 6
Age UK Sheppey CIO Trustees. report {continved) for the year ended 31 March 2021 Achigvements and performance (continued) Sprockets Club- Free monthly club providing refreshments, a chat and friendship for people supporting a loved one with dementia. Sessions run by a dedicated volunteer who also assists with weekly dementia groups al Rosemary House so is familial with a proportiorn of attendees. Hearing Aid CliniG - Hi Kent operate a monthly drop-in hearing aid and maintenance clinic al Rosemary House Centre for service users to get their hearing aid equipment checked with minor adjuslmenls and repairs completed on sile. Computer Tralning - Free. basic 2-hour computer training sessions held at Rosemary House Centre and run by a dedicated volunteer. Befriending Free service providing one-to-one befriending in people's homes facilitated mainty by approved volunteers and operationally overseen by 8 volunteer coordinator. Financial rgview a. Golng Goncern After making appropriate enqLtiries, the Trustees have a reasonable expectation that the Charity has adequate resources lo conlinLte in operational existen for the foreseeable future. For this reason, they continue lo adopt the going concern basis in preparing the financial slatemenls. Further details regarding the adoption of the going concern b8S15 can be found in the accounting policies. b. Reserves policy The Trustees have considered Charity Commission guidance and have reviewed their reserves policy in light of current funding and financial climate. The reserves are made from the Charity's unrestricted income fund. and are in addition to the reslricled funds shown in the notes to the financial statements. £100.000 Funding loss contingency reserve. £105,000 'Casllewell" Reserve premises al Queenborough. for repairs and replacements, taken from the process of sale of Casllewell £25,000 Redundancy Reserve- lo cover potential cost of redundancy payments. c. Prlnclpal funding With donations, legacies 2nd core funding opportunrties on the decline, along with the uncertainly of local government slalulory grants, there was a need to impose a modest price increase in April 2019, Affordability remains a key issue on the Isle of Sheppey as it includes some of the most deprived areas for petTrsioner poverty in the country. Further new services are needed which will be selfs(Jslainable or funded by sources other than stalulory funding. d. Results for thg year In summary, income amounted lo £775,729 {2020.' £565,371) and expenditure to £528.92712020.' £544,380). There is a resulting nel surplus for the year of £246,80212020.. £20.9911. As at 31 March 2021, the total funds of the Charity stood al £1,027,37812020.. £780,576), of which £339 966 (2020: £338,726) is held in designated funds, £55,51712020.. £82.085) in reslricled funds and £631,89512020.' £359,765} in general unreslricled furKIs. Page 7
Age UK Sheppey CIO Trustees. report {contlnuedl for the year ended 31 March 2021 Structure. governance and management a. Constitutlon Age UK Sheppey CIO was registered on 7 January 2014. Prior lo this dale the Charity was registered as an unin¢orporaled charity called Age Concern Sheppey TIA Age UK Sheppey {registralion nLFmber 2710891, this harily has now been dissolved by the Charity Commission. The princip81 object of Ihe Charity is to promote the welfare of the elderfy in 8ny mannei that is deemed charitable within the Isle of Sheppey. b. Mèthods of appointment or election of Trustees The governance of the Charity is the responsibility of the Trustees who are elected and co opted under the terms of the Conslilulion. c. Organi$ational structure and deci$ion-making pollcies The Charity Is govemed by the Board of Tnsslees which is elected annually to oversee the organisalion and running of the Charity. The Board of Trustees are responsible for approving 811 policies and meet on a regular basis. The day-lctrday management of the Charity is devolved lo the Chtef OffIr and staff team. d. Polici¢s adopted for the Inductlon and training ol Truste85 Trustees are recruited on the basis of the skills, knowledge and expertise required by the Board of TruslBes lo lulfil ils governance role effectively. An induction procedure is followed and Iraining is tailored according to individual needs. e. Risk rnanagernent The Trustees have assessed the major risks lo which the Charity is exposd. in particular those related lo the operations and finances of the Charity, and are satisfied that systems and procedures are in place lo mitigate exposure lo the major risks. Plans for future perlods Although KCC has delayed the ending of their grant towards services for older people, we anlicipale working with KCC in their commissioning processes ir) the coming months and eventually working lo a programme of procured oulcorlles for older people in future years. Funding reductions of grants and in procurement are inevitable. We will continue to evolve our services to maintain a wide range of support lo meet the needs of older people on the Isle of Sheppey. Page 8
Age UKSheppey CIO TnbStèEs' report Icontinued) lor the year ended 31 March 2021 Statemeni of TnJstee5' iespon5ibiJiti•$ The Tnjslees are respon5ib18 for pieparing the Truslees, reptrrt and the financial 51alements ITr accordance wth 8ppTrble law and Uniled Kirsdom AccouTrbng Standards (United Kingdom Genernlly Accepled Accounb" Practice). The law ap1{ble to charits'es in England & Wales require5 the Trusl8es to preparE Ilngncial slalemen15 lor each finènual which give a Irue And lair view of the slate of affalts DI the Charity ond of it5 rn¢om¢ and appBGstion of iesources. including ÈLS income and expeThture, lor Ihat period. In prepahng these financial Statents, the Tiusiees Bre ieqiiiFpd lo. seleel svilable a¢countinll policie5 and then appty Ihern un5Eslenlty.' observe Ihe rnelhods and prirbciple5 01 the Charil(6s SORP {FRS 102)- mke judgNnls and accounting esbrn8tes Ihat are ¥easonable and prlent.. slate whelhei appJICab UK Accounting Sland8rds IFRS 1021 have been lollowed. svty'ecl ¢0 any rr¢lerial dep8rtures dixbsed and explalned in the financial slaternents., prepare the fin3nci#l 51alemeal$ on Ihe 90ing concern b&s¢s unless 11 is Inapproprbale to presume that the Charity will continue In business. The Trustees aFe tesponsible lor keerI2 adequate acwurÈ15n9 records thal are 8ulfj¢ienl to show explBin th8 Charity's Iransacborts £n( dBc105e wlth ieasonable accuraty at 8ny time the finanual position ol the Charity and enable thÈm to ensuie th81 Ihe financial slatemeTrts compty Ihe charib.es Ad 2011, the Charity (Atcaunls and Reports) Regulabor55 2008 and the provigons ol Ihe. They are 8L%o responsible for sale9uarding Ihe assets or the Challty and hence for 18king reasonable 51eps lor lh preventiorb and d8le¢tion of fraud and other lThegularibes. Dlsc105kFre of infomiatlon to auditor Each ol Ihe persons who are Tnrstees et the time when this Twslees. report is 8ppJoved has ¢onfirmed that.. so far as Ihat Trusle¢ aware, ther¢ is no relevant 8udil inforrFbon DI whith thE Charity's audilor is vnaware, and thel TN51ee h&s laken aTr the steps Ihat ought lo have been laken as e Trusle& in older to be aware ol
ny ielevant Budit Information and lo eStsb"Sh that Ihe Charitls audi1 1% aware ol Ihal Inlormabon.
Audllor The ?4trditOT, Kreston Reeves LLP, has indicated hi5 wlln9ness to in olfjctr. The designated Twslee5 im propose è motion reappointr.ng the audttoi al a meeting ollhe Tstee$. Approved ty OTdpr ol the mernber5 ofthe Board olTry51ee5 orts 17/01/2c>Lland signed on theii bph?If ty- MrADouty . TtU51ee
Age UK Sheppey CIO Independent auditorfs report to the Members of Age UK Sheppey CIO Opinion We have audited the financial slalemenls of Age UK Sheppey CIO Ilhe 'Charily') for the year ended 31 March 2021 which comprise the Statement of financial activities, the Balance sheet, the Slalement of cash flows and the related notes, in¢luding a summary of signrficanl accour)ling policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of lieland, (United Kingdom Generally Accepted Accounting Pracllcel. The financial slalemenls have been prepared in accordanee with Accounling and Reporting by Charities preparing their aCnIS in accordance with the Financial Reporting Standards applicable in the UK 8nd Republic of Ireland IFRS 1021 in preference lo the Accounting and Reporting by Charities.. Slalemenl of Recommended Practice issued on 1 April 2005 which is referred lo in the exlanl regulations bul has been withdrawn. This has been done in order for the accounts lo provide a true and fair view in accordance with the Generally Accepted Accounb"ng Practi effective for reporting periods beginning on or after 1 January 2019. In our opinion the financial stalemenls.. give a true and fair view of the stale of the Charity's affairs as al 31 March 2021 and of ils income and application of resources for the yeer then ended-, have been properly prepared in accordance wilh United Kingdom Generally Accepted A¢counting Practice,. and have been prepared in accordance with the requirements of the Charilies Act 2011. Basis for opinlon We conducted our audit in accordan wrth Inlern81ional Standards on Auditing IUKI IISAS {UKII and applicable law. Qur responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial slalemenls section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant lo our audit of the financial slalemenls in the United Kingdom, including the Financial Reporting Council's Ethical Stsndard, and we have fulfilled our other ethical responsibilities in accordance wlh these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Conclusions relating to golng concem In auditing the financial stalemenls. we have concluded that the Trustees, use of the going concern basis of acwunting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not idenlrfied any material uncertainties relating lo events or conditions that, individually or collectively. may cast significant doubt on the Charity's ability lo continue as a going conrn for a period of al least twelve months from when the financial slalemenls are aulhorised for issue. Our responsibilities and the responsibilities of the Trustees with respect lo going ¢oncerD are described in the relevant sections of thi5 report. Page 10
Age UK Sheppgy CIO Independgnt audltor's Keport to the Members of Age UK Shgppgy CIO (contlnued} Other InformatSon The Trustees are responsible for the other information. The other information comprises the information included in the Annual report, other than the financial slalemenls and our Auditor's report Ihereon. Our opinion on the financial slalemenls does nol cover the other inforrnalion and we do not express any form of assurance conclusion Ihereon. In connection with OUT audit of the financial slatemenls, our responsibility is lo read the other information and. in doing so. consider whether the other information is materially inconsistent with the financial slalemenls or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstalemenls. we are required lo determine whether there is a material misslalemenl in the financial statements or a material mis51alemenl of the other information. If, based on the work we have performed, we conclude that there is a material misslatemenl of thi8 Other infomialion, we are required lo report that fact. We have nothing lo report in this regard. MattgTs on whlch we are roqulred to report by exception We have nothing lo report in respect of the followtng matters where the Charities {Accounts and Reports) Regulations 2008 requires us to report lo you . in our opinion.. the inlormalion given in the Trustees, report is inconsislenl in arky material respect wlh the financial statements., or sufficient accounting records have not been kept,. or the financial statements are not in agreement with the accounting records and returns,. or we have not received all the information and explanations we require for our audit. Responslbllities of trust¢es As explained more fully in the Trustees, responsibilities statement, the Trustees are responsible for the prepai2tion of the financial slalemenls which give a true and fair view, and for such internal control as the Trustees determine is neGessary to enable the preparation ol financial slalemenls that are free from material misstalemenl, whether due lo fraud or error. In preparir)g the financial statements, the Trustees are responsible for assessing the Charitys ability lo continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend lo liquidate the Charity or lo cease operations, or have no realistic alternative bul lo do so. Page11
Age UK Sheppey CIO Ind9pendent auditor's report to the Members of Age UK Sheppey CIO {continuedl Auditorfs responslbilltles for the audit of the financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance wth the Act and relevant iegulalions made or having effect thereunder. Our objectives are lo obtain reasonable assurance about whether the financial slalemenls as a whole ale free from material misslalemenl, whether due lo fraud or error, and lo issue an Auditor's report that in¢lu(ies our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted in accordance with ISAS (UK) will always ¢Jelecl a malersal misslalement when il exist5. Misslalemenls can arise from fraud or error and are considered material rf, individually or in the aggregate, they could reasonably be expected lo influence the economic decisions of users taken on the basis of these financial stslemenls. Irregularities. including fraud. are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to delecl material misslalemenls in respect of irregularities, including fraud. The extent lo which our procedures are capable of delecling irregularities, including fraud is detailed below.. Capability of Ihe audi( in detecting irregularilies, Including fraud Based on our undersianding of the Charity and the sector as a whole, and through discussion with the Trustees and other management las required by auditing slandardsl, we idenlrfied that the principal risks of non- compliance with laws and regulations related lo health and safely, anti-bribery and employment law. We considered the exlenl to which non-compliance might have a material effect on the financial slalements. We also considered those laws and regulations thal have a direct impact on the preparation of the financi81 statements such as the Charities SORP IFRS 1021 Second Edition Ireleased October 20191 and other relevant charity legislation. We Communicated identified laws and regulations throughout our team and remained alert lo any indications of non-compliance throughout the audit. We evaluated Trustees. and management's inntiveS and opportunities for fraudulent manipu121ion of the financial statements (including the risk of override of controls) and determined that Ihe principal risks related to.. posting inappropriate joumal entries lo increase revenue or reduce experbdilure., and management bias in accotjnling eslimales and judgemenlal areas of the financial slalemenls. Audit procèdures performed by the engagement team included.. Discussions with management and assessment of known or suspected instan¢es of non-compliance with laws and regulations (including health and safely) and fraud,. and Assessment of identified fraud risk factors,. and Review of cash expendiluie lo confirm no evidence of personal benefit., and Challenging assumptions and judgements made by management in ils significant accountin9 eslimales., and Performing analytical procedures to identify any unusual or unexpected re5alionships, including lelated paty Iransaclions, that may indic8te risks of malerial misstalemenl due lo fraud., and Confirmation of related parties with management, and review of transactions throughout the period to identify any previously undisclosed transactions with related parties outside the normal course of business,. and Reading minutes of meetings of those charged with governance", and Physical inspection of tangible assets Su$pIlb1e to fraud or irregularity,. and Review of significant and unusual transactions,. and Identifying and lesling journal entries, in particular any manual entries made al the year end for financial stslemenl prepaTalion. Because of the inherent limitations of an audit, there is a risk that we ¥MII not delecl all irregularities, including those leading lo a material misslalemenl in the financial slalemenls or non-compliance with regulation. This risk increases the more that compliance wFlh a law or regulation is removed from the events and Iransactions refiecled in the financial slatemenls, as we will be less likely lo become awaro of instances of non-compliance. The risk is also greater regarding irregularities occurring due lo fraud ralhei than error, as fraud involves intentional concealment. forgery, collusion. omission or mi5representalion. Page 12
Age UK Sheppey CIO Independent auditorfs report to the Members of Age UK Sheppey CIO IGontlnugdl As parl of an audit in accordance Mth ISAS {UKI, we exercise professional judgment and maintain professiorial sceplicism throughout the audit. We al$o.- Identify and assess the risks of material misstatement of the financial 5talemenls, whelhor due to fraud or error, design and perform audit procedures responsive to those risks, and obtsin audit evidence that Is sufficient ancl appropriate to provide a basis for our opinion. The risk of rpol delecling a material misstalemenl resulting from fraud is higher than for one resulting from error. as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override i)f internal control. Obtain an understanding of internal control relevant lo the audit in order lo design audit procedures that are appropriate in the CirCM5t8nCes, bLtI not for the purpose of expressing an opinion of the effectiveness of the Charity's internal control. Evalvale the appropriateness of accounting policies used and the reasonableness of accounting eslimales and related disclosures made by the Tr4Jslees. Conclude Dn the 8pproprialeness of the Trustees, use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainly exists relaled lo events or conditions that may c8s1 signrficanl doubl on the Charity's ability lo continue as a going concern. If we conclude that a material uncertainty exists, we are required lo draw 811ention in my Auditor's report to the rel8led disclosures in the financial statements or, rf such disclosures are inad8quale, lo modify our opinion. Our conclusions are based on the audit evidence obtained up to the dale of my Auditor's report. However, future events or conditions may cause the Charity lo cease lo continue as a going concern. Evaluate the overall presentation, structure and content of the financial slalemenls, including the disclosures, and whether the financial statements represent the underlwng transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and liming of the audit and signrficant audit findings, including any significant deficiencies in internal control that we identify during our audit. Use of our report This report is made solely lo the Chariws Trustee5, as a body, in accordance with P8rl 4 of the Charilies (Accounts anii Reporlsl RegulalioTrs 2008. Our audit work has been undertaken so that we might slate lo the Charitys Trustees those matters we are req¥Jired lo slate to them in an Audilorts report and for no other purpose. To the fullest exlenl permilled by law, we do not 8ccepl or assume responsibility lo anyone other than the Charity and its TTUStees, as a body, for OLir audil work, for this report. or for the opinions we have formed. Kreston Reeves LLP Chartered Accounlanls Sl8tulory Auditor Chatham Marilime Dale.. 2010112022 Kreslon Reeves LLP are eligible lo act as auditors in leims of section 1212 of the Companies Act 2006. Pa9e 13
Age UK Sheppgy CIO Statement of financial activities for the yearended 31 March 2021 Unrestricted funds 2021 Restricted funds 2021 Total funds 2021 Totsl funds 2020 Note Income from: Donations and leg8cies Charitable acllvilies Other trading activities Investments 522,366 205,369 19,078 557 28.359 550.725 205.369 19,078 557 266,479 275,421 21,152 2,319 Total income Expenditure on: Raising funds Charitable activities 747,370 28,359 775,729 565,371 392 495,098 392 528,535 3,042 541,338 33.437 Total expenditure 495.490 33,437 528,927 544,380 Net Incomellexpenditurel Transfers between funds 251,880 21,490 (5.078) {21,4901 246,802 15 20,991 Net movement In funds Reconciliation of funds: Total fvnds brought forward Net movement in funds 273.370 126,5681 246.802 20,991 698,491 273,370 82,085 (26,5681 780,576 246,802 759,585 20,991 Total funds carried forward 971,861 55,517 1.027,378 780,576 The notes gn pages 1710 33 form part of these financial stalemenls. Page 14
Age UKSheppey CIO Balanct sheel as at 31 March 2021 ' Note 2021 2020 Fixed assets Tangible assets Cuwrtnft ass¢ts 151,977 152.237 Stocks . Debtots . Cash ai bank 8nd in hand 12 13 1.527 21,427 861.295 2,077 38.982 595,094 884,249 636.153 CIe¢ilo- lalling dtse willn one yeal 14 18,8481 (7.8141 Net current assets 075.401 628.339 Total net asstts 1.027.378 780,576 Charity Ivnds Reslricl8d lunds Ljnrgstrlcltd Ilmds 15 Is 55.S17 971,861 62.085 698,491 Totsl lund$ 1,027,3T8 780,576 Thb finondBI slaloThnts woro approved tsnd Dulhoriseij lor Is$uo by the Tittsloos on Ii/oJ/2L'I tLI)d signod on Ihelr behallby.. MrA Dou¢y Thp noles ori 0?$ 77 10 33 lorm part ol Ihoso finnnclal slolemonts.
Age UK Sheppey CIO Statement of cash flows for the year endgd 31 March 2021 2021 2020 Cash flows from operating activltles Nel cash used in operating activities 288,268 45,283 Cash fFows from investlng aGtivitles Dividends. interests and rents from investments Purchase of tangible fixed assets 557 (22,624) 2,286 Net cash lused In)Iprovided by investlng activities 122,0671 2,286 Cash flows from financing actlvities Net cash provided by financing activltlès Change in cash and cash equivalents in tho year Cash and cash equivalents al the beginning of the year Cash and Gash equlvalents at the end of the year 266,201 47,569 595,094 547,525 861.295 595,094 The notes on pages 1710 33 form part of these financial 51alements Page 16
Age UK Sheppey CIO Notes to the financial statements for the year ended 31 March 2021 General infomiatlon Age UK Sheppey CIO is a charitable incorporated organisalion and an exempl charity incorporated in England and Wales. The registered office is 43 Trinity Road, Sheerness, Kent, ME12 2PF. The Charity's aim is to increase the reach of Age UK Sheppey CIO, enabling more people to access beneficial support, lo promote the wellbeing of all older people and lo make later lrfe a fulfilling and enjoyable experience. Accountlng polici 2.1 Basis of preparation of financial statements The financial slalemenls have been prepared in accordance with the CharTlies SORP (FRS 1021 Accounting and Reporting by Charities.. Sl8lemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 {effective 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102} and the Charities Act 2011. The financial stalemerils have been prepared lo give a 'true and fair, view and have departed from the Charities {Accounls and Reports} Regulations 2008 only to the exlenl required lo provide a 'lrue and fair. view. This departure has involved following the Charities SORP {FRS 1021 published on 16 July 2014 rather than the Accounting and Reporting by Charities.. Statement of Recommended Practice effeclive from 1 April 2005 which has since been withdrawn. Age UK Sheppey CIO meets the definition of a public benefit enlily under FRS 102. Assets and liabilities are initially recognised al historical cost or transaction value unless otherwise slated in the rèlevant accounting policy. 2.2 Going concern The Trustees assess whether the use of going corkcern is appropriate i.e. whether there ale any material uncertainties related to events or conditions that may cast significant doubl on the ability of the Charity lo continue as a going concern. The Trustees make this 8ssessmenl in respect of a period of al least one year from the (Sale of aulhorisalion for issue of the financial slalemenls and have concluded that the Charity has adequate resources lo continue in operational existence for the foreseeable future and there are no material uncertainties about the Charills ability lo continue as a going concern, thus they contine to adopt the going concern basis of accounting in preparing the financial slalements. Whilst the impact of the Covid-19 pandemic has been assessed by the Trustees, so far as is reasonably possible, due lo its unprecedented impact on the worldwide economy il is drfficult lo evalu2le with any certainly the polenli21 outcomes on the Charity's future aclivrties. However, taking into consideration the Chariws level of reserves and the actions they've taken, the Trustees believe that the Charity will be able to continue in operational existence for the foreseeable future. Page17
Age UK Sheppey CIO Notes to the flnancial statements for the year ended 31 March 2021 Accountlng pollcie$ (continued) 2.3 Income All income is recognised once the Charity has enlittemenl lo the income, It is probable that the income will be received and the amount of income receivable can be measured reliably. Grants are included in the Slalement of financial activities on a receivable basis. The balance of income received for specrfic purposes bul not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entillemenl of receipt, tts recognition is deferred 8nd included in creditors as deferred income. Where enlillemenl occurs before income is received. the income is accrued. Income lax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised al the lime of the dorsalion. Income lax recoverable in relation lo inveslmenl income is recognised al the lime the investment income is receivable. 2.4 Expgndlture Expenditure is recognised once there is a legal or Conslruclive obligation lo transfer economic benefit lo a third paty, il is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expendilure on raising funds includes all expenditure incurred by the Charity lo raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charilable trading. Expenditure on charitable activities is incurred on directly undertaking the activities which further the CharitS objeclives. as well as any associated support costs. All expenditure 15 inclusive of irrecoverable VAT. 2.5 Interest recolvable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charily,- Ihis is normally upon nolificalion of the interest paid or payable by the institution with whom the funds are deposited. Page 18
Age UK Sheppey CIO Notes to the financial statements for the year ended 31 March 2021 counting poliGios {contlnued) 2.6 Tangible fixed assets and depreciatlon Tangible fixed assets costing £1,000 or more are capilalised and recognised when future ecor)omic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially iecognised al cost. After recognition, under the cost model, tangible fixed assets are measured al cost less acctjmulaled deprecialion and any sccumulaled impairment losses. All costs incurred to bring a tangible fixed asset into ils intended working condition should be included in the measurement of cost. At each reporting date the Charity assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined lo be the higher of ils fair value less costs lo sell and ils value in use. An Impairment loss is recognised where the carrying amount exceeds the recoverable amount. Depreciation is charged so as to allocate the cost of tsngible fixed assets less Iheir residual value over their estimated useful lives on the following bases". Freehold properly Leasehold Property 2¥0 straight line On a slr8ighl line basis over the remaining term of the lease from the dale al which the improvements are eomplele(J. 200/0 slraighl line 20Q/D slraighl line Motor vehicles Fixtures & fillings 2.7 Stocks Stocks are valued al the lower of Gosl and nel realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct ¢osts and an appropriate proportion of rixe(l and variable overheads. 2.8 Debtors Trade and other debtors are recognised al the selllement amount after any trade discount offered. Prepayments are valued at the amount prepaid nel of any trade discounts due. Page 19
Age UK Sheppey CIO Notes to th? flnaneial statements for the year ended 31 March 2021 Accounting policies {continued) 2.9 Cash at bank and in hand Cash al bank and in hand includes cash and shorl-lerm highly liquid investments with 2 short malurty of three months or less from the date of acquisllion or opening of the deposil or similar account. 2.10 Liabilities and provlslons Liabilities are recognised when there is an obligation al the Balance sheet dale as a result of a past event, it is probable that a transfer of economic benefit wll be required in selllemenl, and the amount of the selllement can be eslimaled reliably. Liabilities are recognised al the amount that the Charity anticipates il will pay lo sellle the debt or the amount il has received as advanced payTnenls for the goods or services il musl provide. Provisions are measured al the best estimate of the amounts required lo sellle the obligation. Where the effect of the lime value of money is material, the provision is based on the present valLJe of those amounts, discounted al the pre-tax discount rale that reflects the risks specific to the liability. The unwinding of the discount is reco9nised in the Statement of financial activities as a finance cosl. 2.11 FlnanGial instruments The Charity only has financial assets and financial liabilities of a kind that qualrfy as basic fin8nc(al instruments. Basic financial instruments are initially recognised al transaction value and subsequently measured al their selllemenl value. 2.12 Operating leases Rentals pad under operating leases are charged to the Stalemenl of financial activities on a straight line basis ove¥ the lease term. 2.13 Penslons rhe Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity lo the fund in respect of the year. 2.14 Fund a¢Gountlng General funds are unreslricled funds which are available for use al the discretion of the Trustees in furtherance of the general objectives of the Charity and whtch have not been designated for other Purposes. Designated funds comprise unrestricted funds that have been sel aside by the Trustees for particular purposes. The airn and use of each designated fund is sel out in the notes to the financial slalemenls. Reslricled funds are funds which are lo be used in accordance with specific reslriclions imposed by donors or which have been raiseil by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specrfic fund. The aim and use of each reslricled fund is set out in the notes lo the financial stalemenls. Investment income. gains and losses are allocated lo the appropriate fund. Page 20
Age UK Sheppey CIO Notes to the financial statements for the year ended 31 March 2021 Income from donations and legacigs Unrestricted Restricted funds funds 2021 2021 Total funds 2021 Total funds 2020 Donations Grants Governmenl gr8nts 18,046 69.480 434.840 18.046 97,839 434,840 14,483 76,522 175,474 28,359 522,366 28,359 550,725 266,479 Total 2020 196,522 69,957 266,479 Income from charitable actlviti¢s Unrestrlcted funds 2021 Total funds 2021 Total funds 2020 SeN}s income Day Centre income 116,471 88,898 116,471 88.898 111,842 163,579 205,369 205,369 275,421 Total 2020 275.421 275,421 Page 21
Age UK Shoppey CIO Notes to the flnancial statgments for the year ended 31 March 2021 Income from other trading activltles Unrgstrided funds 2021 Total funds 2021 Total funds 2020 Special projects and miscellaneous income Internal fundraising Shop sales External fundraising 17,802 762 459 55 17,802 762 459 55 7,882 8,590 4,379 301 19,078 19,078 21,152 Total 2020 21,152 21,152 Investment income Unrestricted funds 2021 Total funds 2021 Total funds 2020 Inveslrnenl income 557 557 2,319 Total 2020 2.319 2,319 Expenditure on raising funds Unrestricted funds 2021 Total funds 2021 Total funds 2020 Fundraising costs 392 392 3,042 Total 2020 3,042 3,042 Page 22
Age UK Shgppey CIO Notes to the financlal statements for the year ended 31 March 2021 Analysis of expènditure by activities Direct osts 2021 Support costs 2021 Total funds. 2021 Total funds 2020 Charitable activities 479,524 49,011 528.535 541,338 Total 2020 484,290 57,048 541,338 Analysis of direct ¢osts Unrestricted Restricted funds funds 2021 2021 Total funds 2021 Total funds 2020 Rent and rates Motor travel expenses Insuran$ Recruilmenl expenses Repairs and maintenance Purchases 13,933 24,082 2,442 1,750 14.976 58.004 7,499 13.933 24,082 2,442 1,750 14.976 58.004 7,499 19,430 27,476 6,141 176 16,277 39,196 3,695 6,050 6.422 3S9,427 Telephone Management fees People Planner expenses Staff costs 3.578 28,359 3,578 353.260 324.901 447,587 31,937 479.524 484.290 Total 2020 452,907 31,383 484,2 Page 23
Age UK Sheppey CIO Notes to the financlal Statements for the year ended 31 Mar¢h 2021 Analysls of support costs Unrestrlcted Restricted funds funds 2021 2021 Total funds 2021 Total fLtnds 2020 Advertising Television licence Printing and computer ¢osls Postage and carriage Office slalionery Legal fees Bank charges Clothing costs Trainin9 costs Bad debts Auditors. remuneration ' Staff costs Depreciation 370 157 2.495 582 1,286 2.298 2,296 47 1,038 <660) 5.520 10,698 21,384 370 157 2.495 $82 1,286 2,298 2,296 47 590 1,669 671 1.811 9,748 2,676 402 643 376 5,256 10,698 22,354 1,038 {6601 5,520 10.698 22,884 1,500 47,511 1.500 49.011 57,048 Total 2020 55,547 1,501 57,048 Page 24
Age UK Sheppey CIO Notes to the financial statements for the year ended 31 March 2021 staff costs 2021 2020 Wages and salaries Social securty costs Pension costs 348.755 11.408 3,795 353,170 13,400 3,555 363.958 370,125 The average number of persons employed by the Charity during the year was as follows= 2021 2020 32 35 The average headcounl expressed as full-lime equivalents was.. 2021 No. 2020 16 No employee received remuneration amounting lo more than £60,000 in either year. The remuneialion, benefits and management fees received by the Charity's key management personne5 in the year, including employe¥'s national insuran¢e contributions, amounted to £105,995 12020.. £87,385). 10. Trustees. remungratlon and expenses During the year, no Trustees received any remuneration or other benefils12020 - £NIL)- During the year ended 31 March 2021, no Trustee expenses have been incurred {2020 - £NILI. Page 25
Age UK Sheppey CIO Notes to the financial statgments for the year ended 31 March 2021 Tanglble fixed assets Freehold prop9rty Loasehold property Motor vehicles Fixtures & fittings Total Cost or valuatlon Al 1 April 2020 Additions Disposals 75,031 318,339 88,065 21,490 27,714 1,134 11,104) 509,149 22.624 {1.104) Al 31 March 2021 75,031 318,339 109,555 27.744 530,669 Depreciation Al 1 April 2020 Charge for Ihe year On disposals 31,520 1,500 214,328 14.668 88,065 4.298 22,999 2,418 {1.1041 356,912 22,884 11,1041 At 31 March 2021 33,020 228,996 92,363 24,313 378,692 Net book value Al 31 March 2021 42.011 89.343 17.192 3,431 151.977 Al 31 March 2020 43.511 104,011 4,715 152,237 Page 26
Age UK Sheppey CIO Notes to the financlal statements for the year ended 31 March 2021 12. Stocks 2021 2020 Finished goods and goods for resale 1,527 2,077 13. Debtors 2021 2020 Due within one yèar Trade debtors Other debtors Prepayments and accrued income 15,165 459 5,803 17,568 890 20,524 21,427 38,982 14. Creditors: Amounts falling due withln one year 2021 2020 Trade creditors Other creditors AcCrUS and deferred income 38 702 8.108 7,812 8.848 7,814 2021 2020 Deferred income al 1 April 2020 Resources deferred during the year Amounts released from previous periods Deferred Income at 31 March 2021 2,081 2.113 {2,081) 2,075 2,081 12,075) 2.113 2,081 Page 27
Age UK Shgppey CIO Notes to the financial statements for the year ended 31 March 2021 15. Statement of funds Statement of lunds - current year Balance at 31 March 2021 Balance at 1 April 2020 Transfers inlout Income Expendlture Unrestrlcted funds Designated funds Fixed asset fund Redundancy reserve Casllewell reserve for renewals and replacements Funding loss contingency reserve 108,726 25.000 {21,384) 22,624 109.966 25,000 105.000 105,000 100,000 100,000 338,726 (21,384) 22.624 339.966 Genorol funds General funds 359.765 747,370 1474.106) 11,1341 631.895 Total UnrestriGted funds 698,491 747,370 {495,490} 21,490 971,861 Restricted funds Doris H3rper Day Centre Lloyds Bank Foundation Kent Community Foundation People Planner KCC Vehicle Replacement Funding 43.511 11,5001 124,9591 {3,400} (3,5781 42,011 24.959 3.400 3,578 34.996 {21,4901 13,506 82.085 28.359 133,437) (21,490) 55,517 Total of fund5 780.576 775,729 1528,927) 1.027,378 Page 28
Age UK Sheppey CIO Notes to the financlal statements for the year ended 31 March 2021 15. Statement of funds (contlnuedl Statement of funds - prior year Balance al 31 March 2020 Balance al 1 April 2019 Income Expenditure Unrestricted furids Designated funds Fixed asset fund Redundancy reserve Castlewell reserve for renewals and replacements Funding loss contingency ieserve 129,579 25,000 120,8531 108.726 25,000 105,000 100,000 105,000 100,000 359.579 (20,853) 338.726 General funds General funds 354,994 495,414 (490,643) 359,765 Total Unrestricted funds 714.573 495,414 {511,496) 698,491 Restricted funds Doris H8rper Day Centre Lloyds Bank Foundation People Planner KCC Vehicle Replacement Funding 45,012 {1,5011 124,9611 16,422) 43,511 24,961 10,000 34,996 3,578 34,996 45,012 69,957 132.884) 82,085 Total of funds 759,585 565.371 (544,3801 780,576 Page 29
Age UK Sheppey CIO Notes to the financlal statements for the year ended 31 March 2021 Deslgnatod funds The designated fixed asset fund equates lo the nel book value of fixed assets at the balance sheet dale, excluding Ihe property known as Roxeth which 15 reslricled. The designated redundancy reserve is monies that have been sel aside in order lo be used in the event that the Charity need lo make any members of staff redundant. The Castlewell reserve eomprises a proportion of the monies generated by the Charity upon selling the Casllewell Day Centre property during the 2015116 financial year. plus a donation from Southern Water and has been sel up in order lo fund the costs of any future subslanli81 renewal or replacement costs. The fLtnding loss contingency reserve has been Sel up to fund any essential costs through a major reduction in public funding. Restrlcted funds The Doris Harper Centre Fund is a reslricled fund. In 1999 the freehold property known as Roxelh was conveyed lo Age UK Sheppey CIO by the Women's Royal Voluntary Service Trustees Limited, who held the property subject lo cert2in reslriclions contained within the Doris Harper Will Trust. These reslriclions require the properly lo be used as an old peoples home, or in a similar capacity, for the local residents of Leysdown and the Isle of Sheppey. Depreciation charged each year on this property is allocated against the fund. The Lloyds Bank Foundation fund is funds reslr¢cted to support the management and adminislralion of the Home Support Service. The People P13nner Grant reslricled fund represents grant funding received by the Charity lo be used for the acquisition and sel up costs of the People Planner software. During the 2019120 financial year the Charity received a grant of £34,996 from Kenl County Council lo be used towards funding two new vehicles. Al the Balance Sheet dale one of the vehicles had been purchased, and so this has been transferred out of the fijnd in the year, with the balance carried forward lo be used for the purchase of the second vehide, when required. 16. Summary of funds Summary of funds- current year Balance at 1 April 2020 Balance at 31 March 2021 Transfers inlout Income Expendlture Designated funds General funds Restricted funds 338,726 359.765 82.085 121,3841 (474,106) (33,437} 22,624 11,1341 {21.490 339.966 631,895 55,517 747.370 28,359 780,576 775,729 (528,927) 1,027.378 Page 30
Age UK Sh¢ppey CIO Notes to the financial Statements for the year ended 31 March 2021 16. Summary of funds {¢ontinugdl Summary of funds - prior year Balance at 31 March 2020 Balance at 1 April 2019 Income Expenditure Designated funds General funds Restricted funds 359,579 354.994 45,012 120,8531 1490,643} 132,8841 338,726 359,765 82,085 495,414 69,957 759,585 565,371 1544,380} 780,576 17. Analysis of net assets b¢tween funds Analysis of net assets b¢tween fund$ - current year Unrestricted Restricted funds funds 2021 2021 Total funds 2021 Tangible fixed assets Current assets Creditors due wilhin one year 109.966 870,743 18,848) 42.011 13,506 151,977 884,249 (8,8481 Total 971.861 55.517 1,027.378 Analysis of net assets betwgen funds - prior year Unrestricted funds 2020 Restricted funds 2020 Total funds 2020 Tangible fixed assets Current assets Creditor5 due within one year 108,726 597,579 (7,814) 43,511 38,574 152.237 636,153 17,814) Total 698.491 82,085 780,576 Page 31
Ago UK Sheppey CIO Notes to the financial statements for the year ended 31 March 2021 18. Reconciliation of net movement in funds to net cash flow from operatlng activitles 2021 2020 Net income for the year (as per Statement of Financial Acliviliesl 246,802 20.991 Adjustments for.. Depreciation charges Dividends, interests and rents from investments Decrease in stocks Decrease in debtors Increase in creditors 22,884 1557) 550 17.555 1,034 22,354 (2,286) 720 2.781 723 Net cash provided by oporatlng adlvitles 288,268 45,283 19. Analysls of cash and cash equivalents 2021 2020 Cash in hand 861.295 595,094 Total cash and ¢ash equlvalents 861,295 595,094 20. Analysls of changes in net debt At 1 April 2020 Cash flows At 31 March 2021 Cash al bank and in hand 595,094 266.201 861,295 Page 32
Age UK Sheppey CIO Notes to the financlal statements for the year ended 31 March 2021 21. Pension commitments The Charity operates a defiried conlribulion 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 lo the fund and amounted lo £3,795 {2020.. £3,555). There was £702 outstanding al Ihe Balance sheet date12020.. £Nil}. 22. Operating loase commitment5 Al 31 March 2021 the Charity had commitments lo make future minimum lease payments under non- cancellable operating leases as follows.. 2021 2020 Nol18ler thaTr 1 year Later than l year and nol18ler than 5 years Later than 5 years 5,000 20.000 5,000 5,000 20,000 10,000 30.000 35,000 23. Related party transactlons Alan Doucy, Trustee, is the majorty shareholder of Sharrock Insurance Serviced Limited. Age UK Sheppey CIO paid £25612020.. £Nil} lo this company during the financial year. There were no amounts outstandin9 al the Balance sheet dale (2020.. £Nil). Page 33