Charlty number: 1155211 Age UK Sheppey Unaudlted Trustees. report and flnanclal statements For the yoar ended 31 March 2024
Age UK Sheppey Contents Page Reference and admlnlstratlve detalls of the Charlty, Its TrusteeB and advlsers Trustees. report Independent examlnerfs report Statement of flnanclal actlvltles 10 Balance sheet 12 Statement of cash flows 13 Notes to the flnanclal statements 14-29
Age UK Sheppey Reference and admlnlstratlve detalls of the Charlty, Its Trustees and advlsers For the year ended 31 March 2024 Trustees Ms Bevertey Nolker, Chair (appointed 30 August 2024) Mr P Murray Mr M Regan-Kennard (appointed 14 June 2023) Mr N Martin (resigned 14 June 2023) Mr A Doucy, Chair (resigned 30 August 2024) Charlty reglstered number 1155211 Prlnclpal offlce 43 Trinity Road Sheerness Kent ME12 2PF Chléf executlve offlcer Mrs L Nowell Hltchcock Accountants Kreston Reeves LLP Chartered Accountants Montague Place Quayside Chatham Maritime Chatham Kent ME4 4QU Bankers Barclays Bank 12 Broadway Sheerness Kent ME12 1AE Independent Examlner Samantha Rouse FCCA DChA Kreston Re8ves LLP Montagug Plac8 Quayside Chatham Maritlme Chatham Kent ME4 4QU Page 1
Age UK Sheppey Trustees. report For the year ended 31 March 2024 Th8 Trustees present their annual report together with the financial statements of the Charity for the year 1 April 2023 to 31 March 2024. Objectlves and actlvltles a. Pollcles and obJeGtlves The Charitvs aim is to increase th8 reach of Age UK Sheppey CIO, enabling more people to access beneficial support, to promote the wellbeing of all old8r people and to make later life a fulfilling and enjoyable experience. Key objectives are to: Maintain and continue to develop quality social opportunities. Continue developing our core community services including home support, meals delivery, befriending, companionship to support more people in their own homes assisting them to live independently for longer Increase the capacity of service users on our Information and Advice services. Listen to older people, identifying their needs to be able to offer person-centred support wherever possible Expand upon existing services as well as establish new wellbeing services to meet identified needs e.g. people with a cognitive impalrment, suffering ill-health, disability, feeling socially isolated, facing financial hardshlp, etc. Expand upon the number of volunteers supporting our services. Remain compliant with all Policies and Procedures 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 guidanc8 'Public benefit: running a charity (PB2)'. b. Strategles for achlevlng obJeGtIvo8 To enable us to achleve our objectives to a wlder audience, we have adopted a numbar of strategies to assist us, including.. Working closely with an extensive array of local organisations to collectively provide more coherent and coordinated support for older people. their carers and families in our local community. Worklng in partnership with our local GP surgeries (Sheppey Primary Care Network). Community N8vigators and KCC Community Wardens to share resources, signpost to a wide range of community initiatives and link like-minded people together to help reduce loneliness and isolation. Continue to work closely with our Kent Age UK'S l Age Concerns since losing local govemment Kent County Council grant funding. Working together to joint bid on future funding opportunities. Seeking extemal funding to assist and enhance both our in-house centre-based and community setvices on offer. Continue to recruit and retain multi-skilled staff and volunteers to enhance and strengthen our existing team including providing appropriate training and development opportunilies for them all. 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 organisation since 2014 undergoing regular inspections. Our ongoing strategy very much includes promoting greater awareness of the services that Age UK Sheppey CIO can provide in order to ensure we have a greater impact within our local community. We continue to raise our profile with the aid of local press, radio stations, working collaboratively with local businesses and similar organisations as well as utilising our own social media sites and website resources. Utilising our new Community Connector to attend networking events and promote within the local community. Alongside developing our existing services, we continue to explore the introduction of additional services in conjunction with our current activities offered and which can provide added benefit to all clients. Page 2
Age UK Sheppey Trustees. report (contlnued) For the year ended 31 March 2024 Objectlves and actlvltles (contlnued) c. Actlvltles undertaken to achleve objectlves Day Services - including social day clubs operating from our Social and Activity centre, dementia support, footcare, hearing aid battery exchange and NHS One You wellbeing clinic. Community Services - including fresh meal delivery service from our 5. rated kitchen, at home services to include shopping and prescription collectionsldeliveries and welfare callslvisits. Memory Cafes across the Isle of Sheppey to support clients and families with dementia support. Offering carers awareness sessions for dementia families and carers. Information and Advice A provision of a drop in seniice provided by Ilnk agreement with Age UK Faversham and referral system for support. Marketing and advertising our services via local press and radlo, leaflet distribution, collection tins held by local businesses and key establishments, working in collaboration with other similar networking groups. as well as utilising our up dated website. social medla outlets. Actively worklng in conjunction with similar organisatlons including Sheppey Primary Care Network, Imago, Sheppey Dementia Friendly Communlty, Llghthouse Group, Sheppey Communlty Development Forum, local housing associations and local council focus groups to raise awareness and make Improvements to support and aid all residents. Working with Age UK Kent Rivers (Faversham) and other local organis8tions on collaborative projects Fundraising events and activities. raffles, and donations both inhouse and via social medla. Arranglng events for local residents to hold stalls and help us fund raise, led by a new volunteer group. Volunteering including recruiting individuals both on a regular and ad-hoc basis. ConnectSng with Swale Voluntary Services, local Job Centre, and local Collages, to promote and help build our volunteer team. Looking at our befriending seNices and training volunteers to be facilitate this seniice. Regular internal and external reviews of all services by means of regular meetings for management tearns, departmental teams and volunteers. To include team meetings and team building exercises, Spot checks for our At Home services, Brainstorming meetings wlth staff, Slaff reviovls and regular Staff briefings and appraisals. We have also Introduced staff reward system for going above and beyond and shall continue to look at other encouraging reward schemes for staff and returning clients. d. Impact The Isle of Sheppey is located off the northern coast of Kent, made up of six main electoral wards and covers an area of 36 square miles. Sh8ppey suffers from a high proportion of deprivation and isolation along with lack of emplonent opportunities, community facilities, insufficient infrastructure with a rather sporadic public transport system. It is estimated around 230kn of Sheppey's population is over 65, with around 30/0 being over 85 and is a popular retirement location. The number of people reaching out to Age UK Sheppey increases year on year with demand on our services becoming more and fflore stretched due to restrictive funding available. With such a vast area to cover across Sheppey along with quite often feeling like a closed off community from the mainland, it is apparent how our services are critical to local residents. We are told on a regular basis how we provide a much-needed lifeline, not only direct to 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 stop shop, empowering older people and providing them with the tools and skills to live independently for longer.Without our core services on offer and the social opportunities 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 to go. Our clubs provide a day filled with fun, laughter, activities and companionship, which is known to help with mental and physical health as well as their wellbeing meaning fewer people needing access to and putting an ever- increasing strain on local authority services. Page 3
Age UK Sheppey Trustees. report (contlnued) For the year ended 31 March 2024 Objectlves and actlvltles (contlnued) In th8 current financial crisis and need to provide more support for our local community has meant the organisation is struggling financially. using reserves to be able to continue our core services. The restructure has meant that we are using less reserves to continue all services, but th8re are still gaps for sustainability. With best price sourced on all our contractors and buying we feel we need to look at the seNices we provide and uplift the way we are delivering services and still make cuts where services are failing or not needed. With a new financial system in place we are finding it easier to identify failing services. measures of targets have been put in place to help services be sustainable. The new logo to include 'lnfinity has been very welcomed, along with new uniforms, redecorated Soci81 and Activity Centre, Garden and introduction of our Dementla Snug. We are hopeful that this will bring in the revenue to sustaln our ser¥ice. We remain committed to $8n4ing our local community in the best way we can and are always looking for ways to improve upon services offered. Funding opportunities are crucial to us maintaining a high calibre of service along with allowing the opportunity to expand with new projects meeting current community needs and demands. We always welcome the opportunity to work alongsid8 and in conjunction with other extemal organisations. increase our outreach and knowing that together we can make a real difference on Sheppey. Achlevements and performance a. What we do IN HOUSE SERVICES The Inflnlty Soclal and Actlvlty Centre Age UK Sheppey CIO now operate 1 day centre on the Isl8 of Shepp8y; Rosemary House, which incorporates our Social and Activity centre. Our smaller Day Centre. Roxeth closed during Covid remains on the market for sale. The Social and Activity centre provides a suitable range of social opportunlties and well-being services Monday to Friday (excluding Bank Holidays) and acts as a community hub for local. older people, and is a great point of contact for signposting to other organisations. Activities offered at our centre are delivered by our dedicated Infinity team and Infinity volunteers, the service is headed by our Infinity Social and Activity Team Leader. Suitably adapted wheelchair friendly vehicles 8r8 available providlng door-to-door transport, if required, and many clients attend on a walk-in basis. We have also collaborated with a local organisation to help provide transport for the centre. We provide a small breakfast menu as well as serving a freshly cooked hot two-cours8 lunch each day and will cater for special dietary needs wherever possible. The Infinity Social and Activities Centre is open 4 days a week from 10 till 3 for anyone over 50, with the 5th day being our dedicated dementia friendly day. The Centre is also used for outsourced specialist tutors and speakers to come in and support our staff with a programme of activities. These include Arts and Crafts, Line Dancing, Chair based exercises, singing sessions. Our Volunteers also provide extra support with a Knittlng café and craft workshops. Outlngs - Our outings have been re-introduced once a month on a Thursday as a pilot scheme to measure if this service is sustainable and need8d. This operates from our Social and Activity centre and is led by our Social and Activity Team Leader and Volunteer, It provides a chance for our clients to have a chance to get out and about, do some shopping, enjoy a meal out of the centre with friends and socialise. Dementla Servlces Our Dementia services have changed during this reporting period seeing a new Team Leader in place and two new Team members. Our team and services have been increased due to the closure of the local Dementia facility. We now provide 3 days of senlice in our centre. 2 days are in our new 'Snug' area and 1 day in our Social and Activity centre. The 'Snug' area is a unique opportunity for clients with Dementia and memory related illnesses to come together in a smaller space where they can feel supported and comfortable. It is a light airy room with good staff ratio to provide an environment to retain memory and life skills. The 'Snug' is suitable for clients who are in the mid to later stages of their condition and is limited to 8 clients at any one time. Our Social and Activity centre is open on a Thursday for our Dementia seNices to provide Social Activities for cognitive retention. We have good staff ratio to clients and can provide services here for up to 25 clients. currently have 16 attending. Page 4
Age UK Sheppey Trustees, report {contlnued) For the year ended 31 March 2024 Achlevements and performance (contlnued) Informatlon and Advlce Drop In SeThlce Our drop in service delivered from our clinic is a free service offering confidential and impartial advice on welfare benefits and all associated aspects to local residents. We operate this service In collaboration with Kent Rivers Age UK (formerly Faversham) the drop in sessions are run once a month and can support residents over 50 with advise on benefits to include, Attendance Allowance, Disability Living Allowance, Pension Credit. Personal Independence Payment. Housing Benefit, Council Tax Disregards and Benefits, EON Warm Homes Project, Blue Badge applications. Age UK Kent River have a dedicated trained advisors in place to take on our referral and arrange a one to one session within the community if appropriate. Footcare - Our chiropody servlce is operated by a Foot Health Car8 Professional every Thursday, offering foot care and fingernail cutting services. This service is operated from The Infinity Social and Activity Centre in our clinic room. Equlpment Hlre - Wheelchairs are available to hlre weekly for a small nominal fee with a general increase in demand during seasonal holiday periods. Hearlng Ald Battery Exchange - Free seniice offering battery exchange (new for used) upon producing your NHS battery exchange book. We also have High Kent hearing specialist come in once a month to operate a drop-in repair service. Wellbelng Checks Run in collaboration with One You NHS community advisors. A chance for local people over the age of 50 to come into our clinic room and access a wellbeing check, obtain advise and be signposted to other health professionals where appropriate. IN THE COMMUNITY SERVICES Inflnlty Fresh Meal Dellvery - We are currently producing and delivering 23 meals per day Monday to Frlday within our community and on average 18 in our Social and Activity Centre. Wherever possible, food used Is sourced locally and we can cater for most special dietary requirements, including food allergies andlor intolerances, offering sultable alternatives. Well balanced nutritional, seasonal menus are produced on a weekly basis by our Fresh meal kitchen team. We also provide a delivery service, operated by At Home team members to deliver to those unable to attend the centre. Our menus now include a vegetarian option and alongside the main meal offer a snack pack. Frozen meals are also avallable for dients to order for weekends and extra meals to support them. Inflnlty at Home - This holistic service provides an extensive range of domestic tasks helping to support service users remain independent. Our Infinity at Home Team Leader works well with her team members to provide a package tailored to meet clients, specific needs. Service delivery has changed in the reporting period to offer 8 minimum of 1.5-hour slots and a cancellation fee has been introduced to move towards full cost recovery. We have been funded by KCC for the past 18 months to deliver the Home Support Funding from KCC, this has enabl8d us to support the most vulnerable in our community with weekly free shopping and free meals. This funding is due to end in September. but remain hopeful it will be replaced by more help for residents throughout the winter months. Shopplng and prescrlptlon plck up- we continue to provide this service under our Infinity at Home heading. Dementla Servlces Our Dementia Team Leader provides dementia café's acro&s the Isle of Sheppey to support families who care for families with Memory impairments. These can be attended by carers and cared for and provide an opportunity to weet others in similar situations. Informatlon and Advlce Communlty Servlces - As part of our collaboration with Age UK Kent Rivers we can provide a community services to help those not able to come along to the Drop In and can arrange longer one to one support for form filling. Page 5
Aga UK Sheppey Trustees. report (contlnued) For the year ended 31 March 2024 Achlevements and performance (contlnued) Volunteerlng - We have seen a slow increas8 in our Volunteers in this reporting period. this is largely due to advertising and networking. This can also be due to an upturn in residents feeling more comfortable with returning to a work environment after COVID. All our volunteers DBS checked, and given training, uniform. mileage allowance and free lunch. b. Our Organlsatlon We continue to participate in working collectively viith Kent Age UK'slConcems and others associated within the Kent Consortium as KCC evolves its policy towards contracting its support for older p80ple. We also continue to participate in developing a Joint approach with other Age UK'S to demonstrate the impact of our activities for older people across Kent. The Consortium is due to change its vision, aims and objectives, towards a new fresher approach to ageing. We are excited to be a part of this and welcome these proposals to embrace aging and highlight that people are active. working and living longer. Likewise Age UK Central are adopting a n8W strategy that will bg introduced by end of year 2024. The changes will encourage those over 50 to live a longer more active life and will form part of our partnership agreement. We continue to support those over 50 on the Isle of Sheppey with our 8ervlces for the public benefit. The outcomes during this this reporting period have been achieved by supporting access to one of our core services: Social and Activity Centre, At Home Services, Food Delivery Service, Dementia Services and l & A. Other ways we have supported have been through partnerships and collaborative working with Foot Care services, One You wellbeing, Hearing Aids through High Kent and projects under the Home Support Fund. We upheld our ISO:90012015 accreditation November 2023 UK'S Charlty Quality Standards carrled out by ACS Registrars. Our inspection by Quality Standards from Age UK Central were undertaken this year and two small adlustm8nts to paperwork were made to meet standards delivered. Cloud-based client management system Tagtronics proving an asset wlthSn our Infinlty at Home service whlch also assists with day-to-day rostering and team data management. Flnanclal revlaw a. Golng concern After making appropriate enqulrles, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the near future. With the hopeful sale of Roxeth, the trusteas are confidenl that we are able to support 811 service shortfalls on our reserves, however they welcome full cost recovery services for sustainability. The uplift via the restructure new seNices and planned changes to existing service have been put in place and are showing a decrease in the need to rely on funding and our reserve. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. b. Reserves pollcy Th8 Trustees have considered Charity Commission guidance and have reviewed their reseNes policy in light of current funding and financial climate. The following reserves are made from the Charity's unrestricted income fund, and are in addition to the restricted funds shown in these note5: £15,000 Redundancy Reserve - to cover the potential cost of redundancy payments - the likely timing of which by nature cannot be foreseen. £100,000 Funding Loss Contingency ReseDie - the likely timing of which by nature cannot be foreseen. £89,063 'Castlewell' Reserve for repairs and replacements. taken from the proceeds of sale of the Castlewell premises at Queenborough - the likely timing of which by nature cannot be foreseen. Page 6
Age UK Sheppey Trustees. report {contlnued) For the year ended 31 March 2024 c. Prlnclpal fundlng With donations, legacies. and core funding opportunities on the decline. along with the loss of local government statutory grants and the increase in minimum wage there was a need to impose a slight increase to services, an increase in At Home minimum hours and cancellation charges imposed on most of our services. The introduction of added payable activities and day trips, along with Lottery Funding has shown a slight increase Income and sustainability for the Social and Activity Centre. We are hopeful that all the changes that have been made over the this reporting period will show an increase in income through uplifted use of all our services over the next 2 years. Affordability remains a key issue on the Isle of Sheppey as it includes some of the most deprived areas for pensioner poverty in the country. We continue to source funding and b8st value to keep costs for our services down and deliver support as affordably as possible. d. Results for the year In summary, income amounted to £524,766 (2023 - £313,980) and expenditure to £590,802 (2023 - £582,337), There is a resulting net deficit for the year of £63,180 (2023 - £268,357). As at 31 March 2024. the total funds of the Charity stood at £684.398 (2023 £750,434) of which £263,550 12023 - £296.547) is held in designated funds, £377,829 (2023 £401,372) in general unrestricted funds and £43,019 (2023- £52.515) in restricted funds. Slructure, governanGe and management a. Con8titutlon Age UK Sheppey is a regist6red charity, number 1155211, and is constituted under a Trust deed. b. Method8 of appolntment or electlon of Tru8tees The governance of the Charity is the responsibility of the Twstees who are elected and coopted under the terms of the Constitution. Our Trustee Nlgel Martin stepped down as Trustee in June 2023 Our Chair Alan Doucy stepped down as Chair in August 2024 New Chair Beverley Nolker was appointed in August 2024 New Trustee Martin Regan Kennard was appointed in August 2023 c. Organlsatlonal Structure and declslon-maklng pollcle8 The Charity is govemed by the Board of Trustees which is elected annually to oversee the organisation and running of the Charity. The Board of Trustees are responsible for approving all policies and meet on a regular basis. The day-t04Jay management of the Charity is devolved to the Chief Officer and staff team. d. Pollcles adopted for the Indu¢tlon and tralnlng of Trustees Trustees are recruited on the basis of the skills. knowledge and expertise required by the Board of Trustees to fulfil its governan role effectively. An induction procedure is followed, and training is tailored according to individual needs. e. Rlsk management The Trustees have assessed the major rlsks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks. Page 7
Age UK Sheppey Trustees. report (contlnued) For the year ended 31 March 2024 Structure, governance and management (contlnued) f. Arrangements for settlng pay and remuneratlon of key management personnel Our team members are on min wage at present and we are govemed by this, w8 offer a 30p increase for the Team Leaders. Management pay is by benchmarking of similar salaries from other local Age UK partners via our HR department. The next increase in April will be again derived from the min wage increase and Trustees have agreed an increase across the organisation of just under 70h. Plans for future perlods Age UK Sheppey continue to work closely with KCC in their programme of procured outcomes for older people in future years. We will continue to evolve our services to maintain a wide range of support to meet the needs of older people on the Isle of Sheppey and seek funding to continue and develop our services. We plan to continue to uplift our services and increase numbers to support those residents of the Island over 50. We shall look at new ways to encourage participation by continue to improve and evolve a variety of activities to the Infinity social and activity centre. Team Leaders will b8 SUPPOrted to engage more with local residents and take charge of their own departments to increase numbers with given targets to become sustainable New incentives for both staff and clients will be continued and a new voluntary funding team will be Introduced. Management will continue to work with staff to enhance servlces overall and continue to cut costs and source funding to provide a sustainable Charity for future generations of the Isle of Sheppey. Over the next 2 years all our seryices will be closely monitored and evaluated so that we can move confidently towards sustaining the Charity for future residents of the Isle of Sheppey. We will look at th8 needs of our local community and change sepiices where needed to provide a rounded service to tha community. Domentla Our Dementla servlce contract finishes with ADSS in March 2025, we are hopeful that this will continue but need to prepare for it ceasing. Our unique 'Snug' area is leading the way forward for the organisation and this service can be increased with need.we shall continue to look at new memory services to support local residents and source initiative ideas to be the go to organisation here on the Isle of Sheppey. Fresh Meals The menu from our 5. hygiene rated kitchen will continue to offer a range of nutritional two course meals, and our Team Leader will continue to source best price. A new rota of food storage will be introduced along with monthly stock takes to minimise wastage. New stream5 of income need to be introduced to increase revenue to sustain this service. Wastage and storage comes at a huge cost to the organisation and environment, the focus moving foThvard over the next 6months will be to reduce waste and minimise our freezers. At Home Our team leader will need to work with manag8ment to introduce ways to support local residents and introduce upliftedlnew seplices to move towards sustainability. Soclal and Actlvlty Will continue to provide well rounded, supportive activities that are engaging and inclusive. They will continue to provide the outings and look at new ways to encourage new uptake for sustainability. As an extra source of income, we will look at the possibility of renting this space when it is not in use. Flnanco Offlce The Financial Officer will continue to work with our Head of Services to look at ways to reduce costs further and reduce non-payments. They will continue to learn the new finance system and work to fully implement these changes over the next 4 months. Truslees To work with the trustees to introduce a trustee day in our Social and Activity centre, so clients can have their say directly, and the trustees can keep connected with how the Charity is supporting our local community. Increase Irustees and put in place temi for chair and trustee for good practice. Page 8
Age UK Sheppey Trustees. report (contlnued) For the year ended 31 March 2024 Statement of Trustees. responsibllltle8 The Trustees 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). The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to: select suitable accounting policies and then apply them conslstently,. observe the methods and principles of the Charities SORP (FRS 102). make judgments and accounting estimates that are reasonable and prudent; state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements; prepare th8 financial statements on th8 going concem basis unless it is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeplng adequate accounting records that are sufficient to show and explain the Charitys 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 Charitles Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detectlon of fraud and other irregularities. Approved by order of the members of the board of Trustees and slgned on their behalf by: Ms Beverley No Chair Date.. er Page 9
Age UK Sheppey
Independent examiner's report For the year ended 31 March 2024
Independent examiner's report to the Trustees of Age UK Sheppey ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2024.
Responsibilities and basis of report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the Charity'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 Association of Chartered Certified Accountants, which is one of the listed bodies.
Your attention is drawn to the fact that the Charity has prepared the accounts 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2019.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed: S M Rouse Dated: 22 January 2025
Samantha Rouse FCCA DChA
Kreston Reeves LLP Chartered Accountants Chatham Maritime
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Age UK Sheppey statement of flnanclal actlvltles For the year ended 31 March 2024 Restrlcted Unrestrlcted funds funds 2024 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and legacies Charitable activities Other trading activities Investments 183,427 15,167 300,295 14,810 11,067 198,594 300,295 14,810 11,067 62,680 234,817 12.010 4,473 Total Income 183,427 341.339 524.766 313,980 Expendlture on: Charitable activities 184,928 405.874 590,802 582,337 Total expendlturo 184,928 405,874 590.802 582,337 Net axpendlture Transfers between funds (1,501 } (7,995) {64,535) 7,995 (66,036) (268,357) 15 Net movement In funds (9,496) (56,540) (66,036) (268.357) Recon¢lllatlon of fund8: Total funds brought forward Net movement In funds 52,515 (9,496) 697,919 (56,540) 750,434 (66,036) 1,018,791 (268,357) Total fund8 carrled forward 43,019 641,379 684,398 750,434 The Statement of financial activities includes all galns and losses recognised in th8 year. The notes on pages 14 to 29 form part of these financial statements. Pagg11
Age UK Sheppey Balance sheet As at 31 March 2024 2024 2023 Note Flxed assets T8ngible assets Current assets 11 96,995 118,100 Stocks Debtors Cash at bank and in hand 12 13 1,817 36,423 568,624 3,364 18,224 629,466 606,864 651,054 Creditors.. amounts falling due within one year 14 (19,461) (18,720) Net current assets 587,403 632,334 Total net assets 684,398 750,434 Charlty fund8 Restricted funds Unrestrlcted funds 15 15 43,019 641,379 52,515 697,919 Total funds 684,398 750,434 The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: Ms Beverley N Chair Date.. er The notes on p8ges 14 to 29 form part of these financial statements. Page 12
Age UK Sheppey Statement of cash flows For the year ended 31 March 2024 2024 2023 Cash flows from operatlng actlvltles Net cash used in operating activities (90,200) (211,576) Cash flows from Investlng acllvltles Dividends. interests and rents from investments Proceeds from the sale of tangible fixed assets Purchase of tangible fixed assets 11,067 26,286 (7.995) 4,473 (12,544) Net cash provlded byl(u8ed In) Inve8tlng actlvltles 29,358 (8,071) Cash flows from flnanclng aGtlvltles Net cash provlded by flnanclng actlvltles Change In Gash and ca8h equlvalent8 In the year Cash and cash equivalents at the beglnning of the year (60,842) (219,647 629,466 849,113 Cash and cash equlvalents at the end of the year 568,624 629,466 The notes on pages 14 to 29 form part of these financial statements Page 13
Age UK Sheppey Notes to the financlal statements For the year ended 31 March 2024 General Informatlon Age UK Sheppey CIO is a charitable incorporated organisation in England and Wales, with the charity number 1155211. The registered office is 43 Trinity Road, Sheemess, Kent, ME12 2PF. The Charitvs aim is to increase the reach of Age UK Sheppey CIO. enabling more people to access beneficial support, to promote the wellbeing of all older people and to make later life a fulfilling and enjoyable experience. Accountlng pollcles 2.1 Basls of preparatlon of flnanclal Statements The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The financial statements have been prepared to give a 'true and fairf view and have departed from the Ch8rities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'tru8 and fairf view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. Age UK Sheppey meets the definition of a public benefit entity under FRS 102, Assets and118bilities are initially r8cognised at historical cost or transaction valu8 unless othenNise stated in the relevant accounting pollcy. The financlal statem6nts are presented in British Sterling and are rounded to the nearest Pound. 2.2 Golng concern The Trustees assess whether the use of golng concem is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to enntinue as a going concern. The Trustees make thls assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the Charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainlies about the Chariws ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financlal statements. 2.3 Income All income is recognised once the Charity has entitlement to the income. it is probable that the income will be received and the amount of income receivable can be measured reliably. Page 14
Age UK Sheppey Notes to the financlal statements For the year ended 31 March 2024 Accountlng pollcles (contlnued) 2.3 Income (contlnued) Grants are included in the Statement of financial activities on a receivable basls. The balance of income received for specific purposes but not exponded during the period is shown in the relevant funds on th8 Balance sheet. Where incorne is received in advance of entitlement of receipt, its recognition is defeed and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. Income tax recoverab18 in relation to investment income is recognised at the tlme the investment income is receivable. 2.4 Expendlture Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charitvs objectives. as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. 2.5 Interest recelvable Interest on funds held on deposit is included when receivabl6 and the amount can be measured reliably by the Charity., this is normally upon nolification of the interest paid or payable by the institution with whom the funds are deposited. 2.6 Tanglble flxed a88ets and depreclatlon Tangible fixed assets costing £1,000 or more are capitalised and recognised when future economlc benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised at CA)St. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intend8d 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 detemiined to be the higher of its fair value less costs to sell and its 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 tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following bases: Freehold property Long-term leasehold property 2 % straight line On a straight line basis over the remaining term of the lease from the date at which the improvements are completed. 20°/0 Straight line 20 % straight line Motor vehicles Fixtures and fittings Page15
Age UK Sheppey Notes to the flnanclal statements For the year ended 31 March 2024 Accountlng pollcles (contlnued) 2.7 Stocks Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. 2.8 Debtors Trade and oth8r debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.9 Cash at bank and In hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short malurity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.10 Llabllltles and provlslon8 Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Llabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at th8 best estimate of the amounts required to settle the obligation. Where the effect of the timo value of money is material. the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised In the Statement of financial activities as a finance cost. 2.11 Flnanclal Instrument8 The Charity only has financlal assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.12 Operatlng leases Rentals paid under operating leases are charged to the Statement of financial activities on a straight- line basis over the lease term. 2.13 Penslons The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year. Page 16
Age UK Sheppey Notes to the flnanclal statements For the year ended 31 March 2024 Accountlng pollcle8 (contlnued) 2.14 Fund accountlng General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which hav8 not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by tha Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The alm and use of each restricted fund is set out in the notos to th8 financial statements. Investment income, gains and losses are allocated to the appropriate fund. Income from donatlon8 and legacle8 Restrlcted Unrestrlcted funds funds 2024 2024 Total funds 2024 Total funds 2023 Donatlons Grants Government grants 10,848 4,319 10,848 187,746 7,860 54,722 98 183,427 183,427 15,167 198,594 62,680 Tot812023 62.680 62.680 Income from charltable actlvltles UnrestrlGted funds 2024 Total funds 2024 Total funds 2023 Services income Day Centre income 121,833 178,462 121,833 178,462 88,305 146,512 300,295 300,295 234,817 Total 2023 234,817 234,817 Pago 17
Age UK Sheppey Notes to the flnanclal statements For the year ended 31 March 2024 Income from other tradlng actlvltles Income from fundralslng events Unrestrlcted funds 2024 Total funds 2024 Total funds 2023 Special projects and miscellaneous income Intemal fundraising Shop sales 13,836 13,836 847 127 7,706 4,118 186 127 14,810 14,810 12,010 Total 2023 12,010 12,010 Investment Incomo Unrestrlcled fund8 2024 Total funds 2024 Total funds 2023 Investment income 11,067 11.067 4,473 Total 2023 4,473 4,473 Analysls of expendlture by actlvltle8 Actlvltles undertaken dlrectly 2024 Support costs 2024 Total funds 2024 Total funds 2023 Direct costs 534,798 56.004 590,802 582,337 Total 2023 520.636 61,701 582,337 Page 18
Age UK Sheppey Notes to the flnanclal statements For the year ended 31 March 2024 Analysls of expendlture by actlvltles (contlnued) Analysls of dlrect costs Total funds 2024 Total funds 2023 Actlvltles 2024 Staff costs Rent and rates Motor travel expenses Insurances Recruitment expenses Repairs and maintenance Purchases Telephone Sub-contractors Profit on fixed asset disposal 387,022 22,522 11,324 9,321 387,022 22,522 11,324 9,321 316,973 30,760 12,814 7,263 2,841 39,776 53,282 11,247 45,680 28,776 64,618 7,721 21,184 (17.690) 28,776 64,618 7,721 21,184 (17,690) 534,798 534,798 520,636 Total 2023 520,636 520,636 Of the total direct costs incurred during the financial year £84,000 (2022: £NIL) were from r8Stricted funds. Page 19
Age UK Sheppey Notes to the flnanclal statements For the year ended 31 March 2024 Analysls of expendlture by actlvltles (contlnued) Analy818 of support costs Total funds 2024 Total funds 2023 Actlvltles 2024 Depreciation Advertising Television Licence Office costs Postage and Carriage Office stationery Legal and professlonal fe@s Clothing costs Training costs Bad debt write off Audit and accountancy fees Bank charges 20,504 444 159 17,558 629 936 2.553 934 500 2,856 5,470 3,461 20,504 24,405 159 17,558 629 936 2,553 934 500 2,856 5,470 3,461 159 18,272 511 810 4,634 39 40 4,203 4,635 3,993 56,004 56,004 61,701 Total 2023 61,701 61,701 Of th8 total support costs incurred during the financial year £100,928 {2022: £1,501) were from restricted funds. Independent oxamlnerfs remuneratlon 2024 2023 Fees payable to the Charitrfs independent examiner for the independent examination of the Charitys annual accounts 2.700 2.400 Page 20
Age UK Sheppey Notes to the flnancial statements For the year ended 31 March 2024 Staff costs 2024 2023 Wages and salaries Social security costs Contribution to defined contribution pension schemes 369,104 13,499 4,419 305.527 7,757 3,689 387,022 316,973 Durlng the year, £15,264 (2023.. £NIL) was paid in respect of redundancy payments. The average number of persons employed by the Charity during the year was as follows.. 2024 No. 2023 No. Employees 27 26 No employee received remuneration amounting to more than £60,000 in either year. The remuneration, benefits and management fees received by the Charitys key management personnel in the year, including employerfs national insurance contributions. amounted to £92,540 (2023: £47,505). 10. Tru8tee8' remuneratlon and expenses During the year, no Trustees received any remuneration or other benefits (2023 - £NIL). Durlng the y88r ended 31 March 2024, no Trustee expenses have been incurred (2023 - £NIL). Page 21
Age UK Sheppey Notes to the flnanclal statements For the year ended 31 March 2024 11. Tanglble flxed assets Long-terni leasehold property Freehold property Motor Flxtures and vehlcles flttlngs Total Cost or valuatlon At 1 April 2023 Additions Disposals 75,031 318,339 109,555 7.995 (50,715) 40,288 543,213 7,995 (50,715) At 31 March 2024 75,031 318,339 66,835 40,288 500,493 Depreclatlon At 1 April 2023 Charge for the year On disposals 36,022 1,501 258,332 14,668 100,959 1,599 (42,119) 29,800 2,736 425,113 20,504 (42,119) At 31 March 2024 37,523 273,000 60,439 32,536 403,498 Net book value At 31 March 2024 37,508 45,339 6,396 7,752 96,995 At 31 March 2023 39,009 60,007 8,596 10.488 118,100 Page 22
Age UK Sheppey Notes to the flnanclal statements For the year ended 31 March 2024 12. Stock8 2024 2023 Kitchen stock 1,817 3,364 13. Debtors 2024 2023 Due wlthln one year Trade debtors Other debtors Prepayments and accrued Income 33,675 291 14,257 440 3,527 2,457 36,423 18,224 14. Credltors: Amounts falllng due wlthln one year 2024 2023 Trade creditors Other taxation and social security Other creditors Accruals and deferred income 11,321 4,675 765 2,700 11,048 3,940 1.332 2.400 19,461 18.720 Page 23
Age UK Sheppey Notes to the flnanclal statements For the year ended 31 March 2024 15. statement of funds statement of funds - current year Balance at 31 March 2024 Balance at 1 Aprll 2023 Transfers Inlout Income Expendlture Unrestrlcted funds Deslgnated funds Fixed Asset Fund Redundancy Fund Castlewell Reserve for Renewals and Replacements Funding Loss Contingency and Restructuring Reserve 66,547 25,000 (19,003) (15,264) 11,943 5,264 59,487 15,000 105,000 (15,937) 89,063 100,000 100,000 296,547 (50,204) 17,207 263,550 General funds General Funds 401,372 341,339 (355,670) (9,212) 377,829 Total Unrestrlcted funds 697,919 341,339 (405,874) 7,995 641,379 Restrlcted funds Doris Harper Day Centre KCC Vehicle Replacement Funding Housing Support Fund Dementia Fund Cost of Living Fund Lottery Fund Film Club Fund 39,009 {1,501) 37,508 13,506 (7,995) 5,511 45,700 44,882 22,095 70,000 750 (45,700) (44,882) (22,095) (70,000) (750> 52,515 183,427 (184.928) {7,995} 43,019 Total of funds 750,434 524,766 (590,802) 684,398 Page 24
Age UK Sheppey Notes to the flnancial statements For the year ended 31 March 2024 15. Statement of funds (contlnued) Statement of funds - prlor year Balance at 31 March 2023 Balance at 1 April 2022 Income Expenditure Unrestrlcted funds Deslgnated funds Flxed Asset Fund Redundancy Fund Castlew811 Reserve for Renewals and Replacements Funding Loss Contlngency and Restructuring Reserve 89,451 25.000 (22,904) 66,547 25,000 105,000 105,000 100,000 100,000 319,451 {22,904) 296.547 General funds General Funds 645,324 313,980 (557,932) 401,372 Total Unrestrlcted fund8 964,775 313,980 (580,836) 697,919 Restrlcted fund8 Dorls Harper Day Centre KCC Vehicle Replacement Funding 40,510 13,506 {1,501) 39,009 13,506 54,016 (1,501) 52,515 Total of funds 1,018,791 313.980 (582,337) 750.434 Page 25
Age UK Sheppey Notes to the flnanclal statements For th8 year ended 31 March 2024 15. Statement of funds (contlnued) Deslgnated funds The designated fixed asset fund equates to the net book value of fixed assets at th8 balance sheet date, 8xcluding the property known as Roxeth which is restricted. The designat8d redundancy reserve is monies that have been set aside in order to be used in the event that the Charity need to make any members of stsff redundant. £15,264 has been utilised in the year. and a transfer from unrestricted funds of £5,264 to leave a designated resepie of £15,000. The Castlewell reserve comprises a proportion of the monies g8ner8ted by the Charity upon selling the Castlewell Day Centre propety during the 2015116 financial year, plus a donation from Southern Water and has been set up in order to fund the costs of any future substantial renewal or rep18cement costs. £15,937 was utilised from this fund against repairs and maintenance in the year. Th8 funding loss contingency and restructuring reserve has been set up to fund any essential costs through a major reduction in publlc funding, and to cover the costs of any requlred restructuring. Restrlcted funds The Doris Harper Centre Fund is a restricted fund. In 1999 the freehold property known as Roxeth was conveyed to Age UK Sheppey CIO by the Women's Royal Voluntary S8rvi¢8 Trustees Limit8d, who held the property subject to certain restrictions contained within the Doris Harper Will Trust. These restrictions require the property to 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. KCC Vehicle Replacement Funding is a restricted fund. In 201912020 the Charity received a fund from KCC for two new v6hicles, the balance of whlch is £5,511. This balance is being held in a restricted vehicle fund to be spent on future transport requirements for the Charity. The Houslng Support Fund is a restricted fund to provide free shopping or free meals for up to 4 weeks for those stwggllng with the cost of living crisis. The Dementia Fund is a restricted fund used to provide activities for our Dementia clients to promote mental wellbeing and help them to live independently for longer. The Cost of Living Fund is a restricted fund to provide a reduced cost gardening service and maintenance service for those over 50. The Lottery Fund is a restricted fund to uplift our day centre and encourage new uptake of the s6r4ice. The Film Club Fund is a restricted fund lo provide a cinema experience for our day centre. Page 26
Age UK Sheppey Notes to the flnanclal statements For the year ended 31 March 2024 16. Summary of funds Summary of funds - current year Balance at 31 March 2024 Balance at 1 Aprll 2023 Transfers Inlout Income Expendlture Designated funds General funds Restricted funds 296,547 401,372 52,515 (50,204) (355.670) (184,928) 17.207 (9,2121 (7,995) 263,550 377,829 43,019 341,339 183,427 750,434 524,766 (590,802) 684,398 Summary of funds - prlor year Balance at 31 March 2023 Balance at 1 April 2022 Incom8 Expenditure Deslgnated funds General funds Restricted funds 319,451 645,324 54.016 (22,904) {557,932) (1,501) 296,547 401,372 52,515 313,980 1,018,791 313,980 (582,337) 750,434 17. Analy818 of net a88ets between funds Analy818 of net assets between funds - Current perlod Restrlcted Unrestrlcted funds funds 2024 2024 Total funds 2024 Tangible fixed assets Current assets Creditors due within one year 37,508 5,511 59,487 601,353 (19.461) 96,995 606,864 (19,461) Total 43,019 641,379 684,398 Page 27
Age UK Sheppey Notes to the flnanclal statements For the year ended 31 March 2024 17. Analysls of net assets between funds (contlnued) Analysls of net assets between funds - prlor perlod R6strict&d Unrestricted funds funds 2023 2023 Total funds 2023 Tangible fixed assets Current assets 39,009 13,506 79,091 637,548 (18.720) 118,100 651,054 (18,720) Creditors due within one year Total 52,515 697,919 750,434 18. Reconclllatlon of net movement In funds to net cash flow from operatlng actlvltles 2024 2023 N8t 8xpendlture for the perlod (as per Statement of Financial Activities) (66.036) (268,357) Adjustments for: Depreciation charges Dividends, Interests and rents from investments (Profit) on the sale of fixed assets Decreasel(increase) in stocks (Increase)Idecrease In debtors Increase in creditors 20,504 {11,067) (17,690) 1,547 (18,199) 741 24,405 (4,473) (1,378) 28,655 9,572 Net cash used In operatlng actlvllles (90,200) (211,576) 19. Analysls of cash and cash equlvalents 2024 2023 Cash in hand 568.624 629.466 Total cash and cash equlvalents 568.624 629,466 Page 28
Age UK Sheppey Notes to the flnanclal statements For th8 year ended 31 March 2024 20. Analy81s of changes In net debt At 1 Aprll 2023 Cash flows At 31 March 2024 Cash at bank and in hand 629.466 (60,842) 568,624 629,466 (60,842) 568,624 21. Penslon commltment8 The Charity operates a d8fin8d contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The penslon cost charge represents contributions payable by the Charity to the fund and amounted to £4,419 (2023.. £3,689). There was £NIL outstanding at the Balance sheet date (2023.. £NIL). 22. Operatlng lease commltments At 31 March 2024 the Charity had commitments to make future minimum lease payments under non- cancellable operating leases as follows: 2024 2023 Not later than 1 year Later than 1 year and not later than 5 years 5,750 11,500 5,000 15,000 17,250 20,000 23. Related party tran8actlons Alan Doucy, Trustee, is the majority shareholder of Sharrock Insur8nce Serviced Llmited. Age UK Sheppey CIO paid £3.027 (2023: £3,439) to thi5 company during the financial year. There were no amounts outstanding at the Balance sh6et date (2023.. £NIL). Paul Murray and Nigel Martin, Trust88s, are director and secretary of Sheppey Matters. Age UK Sheppey CIO paid £1,250 (2023: £1,920) to this company during the financial year. During the year, £1,202 of incom8 was received from the company (2022.. £NIL). There were no amounts outstanding at the Balance sheet date (2023.. £NIL). Paul Murray, Trustee, is also director of Queensborough Town Community Centre Limited. Age UK Sheppey CIO paid £174 (2023.. £NIL) to this company during the financial year. There were no amounts outstanding at the Balance sheet date (2023: £NIL). There are no other related party transactions to disclose during the financial year. or previous year. Page 29