**Registered number: 07279153 Charity number: 1158981**
## **AGE UK CITY OF LONDON**
# **(A Company Limited by Guarantee)**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS For the Year Ended 31 March 2022**
## **AGE UK CITY OF LONDON**
## **(A Company Limited by Guarantee)**
## **CONTENTS**
||Page|
|---|---|
|**Reference and Administrative Details of the Charity, its Trustees and Advisers**|1|
|**Trustees' Report**|2 - 6|
|**Independent Examiner's Report**|7|
|**Statement of Financial Activities**|8|
|**Balance Sheet**|9|
|**Notes to the Financial Statements**|10 - 19|
## **AGE UK CITY OF LONDON (A Company Limited by Guarantee)**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS For the Year Ended 31 March 2022**
|**Trustees**|Mary Burd, Chair (appointed 30 March 2022)|
|---|---|
||Jane Carr|
||Maureen Childs|
||Imogen Clark (resigned 30 March 2022)|
||John Cole (resigned 15 December 2021)|
||Jacob Coy (appointed 30 March 2022, resigned 1 October 2022)|
||Prakash Kakoty (resigned 30 January 2023)|
|**Company registered**
**number**
07279153
**Charity registered**
**number**
1158981
**Registered office**
68 Parkway
London
NW1 7AH
**Accountants and**
**independent examiner**
Martin Bailey FCA
Goodman Jones LLP
Chartered Accountants
29/30 Fitzroy Square
London
W1T 6LQ||
Page 1
## **AGE UK CITY OF LONDON**
## **(A Company Limited by Guarantee)**
## **TRUSTEES' REPORT For the Year Ended 31 March 2022**
The Trustees present their annual report together with the financial statements of the Charity for the year 1 April 2021 to 31 March 2022. The Annual Report serves the purposes of both a Trustees' Report and a Directors' Report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
## **Objectives and activities**
## **a. Policies and objectives**
The Charity delivers activities in the City of London to support older people living, studying and volunteering in the square mile to age well and safely.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
## **b. Strategies for achieving objectives**
As a small charity with limited staff resources, the Charity’s strategy is to focus on small scale direct service provision, focussed on specific locations within the City of London. The strategy is to focus on a beneficiary-led approach, with services being developed by reference to the needs and wants of local older people.
## **c. Activities undertaken to achieve objectives**
The principal activities of the Charity are:
- Maximising opportunities for older people to improve and maintain health and wellbeing
- Promoting digital inclusion by the provision of help and support to older people wishing to get online and to improve their digital skills
- Providing opportunities for cultural enrichment and social connectedness
- Delivering activities and services that are co-produced with and developed in consultation with older people.
## **Achievements and performance**
## **a. Main achievements of the Charity**
## **Coronavirus response**
Compared to the previous year, the period under review showed a phased return to more face-to-face activities as and when Coronavirus guidelines permitted.
In addition the Charity retained a number of the online offerings that it developed in response to the pandemic as this method of delivery is clearly wanted by some older Londoners.
Page 2
**(A Company Limited by Guarantee)**
## **AGE UK CITY OF LONDON**
## **TRUSTEES' REPORT (CONTINUED) For the Year Ended 31 March 2022**
## **Achievements and performance (continued)**
## **Health and wellbeing**
The Charity provided weekly on line yoga classes which remained popular and provided valued support to older Londoners living with health conditions and mobility issues.
_“the yoga gave a focus to the week”_
_“I have avoided yoga classes because I am not very mobile but this allowed for many different levels of mobility or none. The sessions gave me some confidence when going out for a walk”_
_“… the yoga classes were a great comfort to me.”_
Participants in the Charity’s yoga classes.
The ability to signpost to other well-being activities was limited by the fact that many activities in the City of London were limited during the early part of the period due to the ongoing Coronavirus situation. Despite this, the Charity continued to share information relating to Covid vaccines and help with transport; and to provide information about City of London projects such as the summer in Aldgate project and City Healthwatch events.
Finally, the Charity was very happy to continue to rebuild its popular programme of Health Walks. The Charity developed a new “entry level” walk, run in weekly partnership with Fusion Leisure’s exercise referral scheme and weekly walks from the Maggie’s Centre at Barts for people living with cancer.
We would also like to take this opportunity to say that staff, volunteers and beneficiaries of the Charity were very saddened at the death of Colin Levy, who was a long term volunteer supporting the Charity’s health walk programme. Colin touched so many lives and the Charity would like to express its great appreciation of his boundless energy, boy-like enthusiasm for London’s history and endless generosity.
## **Social connectivity**
The Charity ran a programme of cultural events, trips and outings to support older people in the City to feel more socially connected to family, friends and peers both online and offline. This work included supporting those new to engaging in local activities and increasing interest and stimulation through joint interests eg crafts, art, literature, film and local history.
The Charity’s Arts group ran a hybrid programme involving meetings of the Art Discussion Group on zoom and trips to Manningtree and Flatford Mill, and the Leigh Art Trail in Leigh on Sea. Over the summer the Charity ran an additional programme of social activities including hands on clay workshop in partnership with Headway Arts and Barbican Centre and a summer party at the Barbican attended by over 60 older people, supported by Amazon Audible and the Barbican Communities in Residence Tea.
## _“Lovely [to] renew friendships after a long break”_
_“Once the face-to-face sessions started, it was a joy to just listen and be in the company of others”_
_“The special events, like last Monday’s drinks on the lovely Golden Lanes lawn.. are red letter days”_
Participants in the Charity’s programme of events, trips and outings.
From the end of April 2021, the Charity was able to bring back its weekly coffee afternoons at Golden Lanes.
Page 3
## **AGE UK CITY OF LONDON (A Company Limited by Guarantee)**
## **TRUSTEES' REPORT (CONTINUED) For the Year Ended 31 March 2022**
## **Achievements and performance (continued)**
The Charity has a long standing programme of work with Mansell Street Women’s Group, a community outreach programme targeting older Bengali women on Mansell St and surrounding areas. This programme focusses on health, social wellbeing, digital & financial literacy. The Charity ran regular Zumba sessions, gardening, craft and cooking/healthy eating sessions; picnics, trips to the seaside and an Eid meal. Participants in the Group took part in the Aldgate winter festival and visited Petticoat Lane to view banners that had been erected as a result of a previous collaborative project.
## **Digital inclusion**
The Charity’s weekly IT drop in sessions at the Barbican were able to recommence in September 2021. The purpose is to support older people in the City to have an increased ability to use IT effectively to maintain their independence and increase their resilience.
“Just wanted to say thank you for all your help yesterday evening. So good to be able to use my laptop for writing documents etc again.”
“Your lap top.. saved what was left of my senses since my “new” laptop is still being repaired”
Participants in the Charity’s digital inclusion work
## **Financial review**
## **a. Going concern**
The Trustees are aware of the significant challenges facing the not-for-profit sector but recent funding success and close monitoring of costs and a regular review of our risk register gives us hope that the Charity has adequate resources to continue in operational existence for the foreseeable future. However, there are material uncertainties in light of what has become an increasingly challenging and difficult funding year following the outpouring of support and emergency funding through Covid 19 in 2021 and early 2022.
The Trustees have monitored and reviewed management accounts, budgets and cashflows to March 2024. There has been improvement to date of expected and anticipated income based on application activity and historical success. The Board continue to take a prudent approach to cost management and have a welldeveloped risk management system in place to manage risks and uncertainties going forward.
## **b. Reserves policy**
The Trustees consider that the general reserve should represent at least three months’ expenditure and currently the level of reserves meets this target.
## **c. Financial performance for the year**
During the year ended 31 March 2022, the Charity received funding from two main sources – grants from Mansell Street and the City of London. The most significant expenditure continues to be staff costs.
The Charity achieved a net deficit of £8,517 (2021: surplus of £4,040) on total income of £35,663 (2021: £75,781). Total reserves at the period end stood at £16,048 (2021: £24,565), of which £27,686 (2021: £3,113) is held in restricted funds and (£11,638) deficit (2021: £21,452 positive funds) held in unrestricted funds.
Page 4
## **AGE UK CITY OF LONDON (A Company Limited by Guarantee)**
**TRUSTEES' REPORT (CONTINUED) For the Year Ended 31 March 2022**
## **Structure, governance and management**
## **a. Constitution**
Age UK City of London is registered as a charitable company limited by guarantee and was set up by a Trust deed.
## **b. Methods of appointment or election of Trustees**
The directors of the company are also known as charity trustees for the purposes of charity law, and under the Articles of Association are known as the Board of Trustees. The Trustees of the Charity are drawn from the trustees of the parent charity and people actively involved in the City of London.
New trustees are provided with information which includes:-
- The responsibilities of trustee board members
- The legal documentation of the organisation including the Memorandum and Articles of Association
- Presentations from staff explaining the services and functions that they deliver.
- Financing of the organisation and explanation of its accounts
- Future plans and objectives
- Risk management responsibilities
Trustees can be supported by external courses as appropriate to their needs and requirements in their role as trustees.
The Trustees are responsible for the governance of the Charity. The management function rests with the Chief Executive who is responsible for ensuring the Charity undertakes its services effectively and that the Trustees are kept well informed.
## **Organisational structure and networks**
The Charity works with its parent charity and other organisations working in and around the City of London to further the interests of older people. During the period, the legal member of the Charity changed from Age UK London to Age UK Camden.
## **Risk management**
Prior to the Transfer Date, the Charity applied the procedures developed by Age UK London to fulfil its risk management responsibilities. After the Transfer Date the Charity began to transition to the systems of its new parent charity, Age UK Camden.
The Trustee Board systematically reviews risks faced by the Charity.
The key risks are considered to be the achievement of sustainable funding through grants, new and extended contracts, managing the necessary number of appropriately skilled staff and reputational standing in the performance of contracts.
Page 5
**AGE UK CITY OF LONDON (A Company Limited by Guarantee)**
## **TRUSTEES' REPORT (CONTINUED) For the Year Ended 31 March 2022**
## **Statement of Trustees' responsibilities**
The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of 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 consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgements 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 the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................ **Mary Burd** Chair Date: 03.03.2023
Page 6
**AGE UK CITY OF LONDON (A Company Limited by Guarantee)**
## **INDEPENDENT EXAMINER'S REPORT For the Year Ended 31 March 2022**
## **Independent Examiner's Report to the Trustees of Age UK City of London ('the Charity')**
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2022.
## **Responsibilities and Basis of Report**
As the Trustees of the Charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent Examiner's Statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I draw attention to note 2.2 in the financial statements that a material uncertainty exists which may cast doubt upon the Charity's ability to continue to operate as a going concern, and that the Trustees continue to monitor the financial position of the Charity.
Other than as noted above, 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.
**Martin Bailey FCA** Goodman Jones LLP 29/30 Fitzroy Square London W1T 6LQ
**Dated:** 03-03-23
Page 7
## **AGE UK CITY OF LONDON**
## **(A Company Limited by Guarantee)**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) For the Year Ended 31 March 2022**
|**Note**
**Income from:**
Donations
5
Charitable activities
6
Investment income
7
**Total income**
**Expenditure on:**
Charitable activities
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2022**
**£**
**596**
**-**
**33**
**629**
**33,719**
**33,719**
**(33,090)**
**21,452**
**(33,090)**
**(11,638)**|**Restricted**
**funds**
**2022**
**£**
**-**
**35,034**
**-**
**35,034**
**10,461**
**10,461**
**24,573**
**3,113**
**24,573**
**27,686**|**Total**
**funds**
**2022**
**£**
**596**
**35,034**
**33**
**35,663**
**44,180**
**44,180**
**(8,517)**
**24,565**
**(8,517)**
**16,048**|_Total_
_funds_
_2021_
_£_
_6,469_
_69,281_
_31_
_75,781_|
|---|---|---|---|---|
|||||_71,741_
_71,741_|
|||||_4,040_|
|||||_20,525_
_4,040_
_24,565_|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 10 to 19 form part of these financial statements.
Page 8
## **AGE UK CITY OF LONDON**
**(A Company Limited by Guarantee) Registered number: 07279153**
## **BALANCE SHEET As at 31 March 2022**
|**Note**
**Current assets**
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within one
year
13
**Net current assets**
**Total assets less current liabilities**
**Net assets excluding pension asset**
**Total net assets**
**Charity funds**
Restricted funds
15
Unrestricted funds
15
**Total funds**|**-**
**37,457**
**37,457**
**(21,409)**|**2022**
**£**
**16,048**
**16,048**
**16,048**
**16,048**
**27,686**
**(11,638)**
**16,048**|_5,000_
_79,806_
_84,806_
_(60,241)_|_2021_
_£_
_24,565_|
|---|---|---|---|---|
|||||_24,565_|
|||||_24,565_|
|||||_24,565_|
|||||_3,113_
_21,452_|
|||||_24,565_|
The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................
**Mary Burd** Chair
Date: 03.03.2023
The notes on pages 10 to 19 form part of these financial statements.
Page 9
**AGE UK CITY OF LONDON**
**(A Company Limited by Guarantee)**
**NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 March 2022**
## **1. General information**
Age UK City of London is a company limited by guarantee registered in England and Wales and has no shares. In the even of the charity being round up, the liability in respect of the guaranteee is limited to £1 per member of the charity. The Charity's registered address is 68 Parkway, London, NW1 7AH. Its registered company number is 07279153 and its charity number is 11558981.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial 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 Companies Act 2006.
The financial statements are prepared in sterling , which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.
Age UK City of London meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **2.2 Going concern**
As noted in the Trustees' Report, the Charity is experiencing challenges around income generation as a result of Covid-19 specific funding now ended. The Trustees have prepared management accounts, budgets, and cashflows to March 2024, and continue to review and revise these as required. There has been improvement since the balance sheet date with regard to expected and anticipated income based on application activity and historical success. The Trustees continue to take a prudent approach to cost management. At the balance sheet date, the Charity had a deficit on unrestricted funds which is expected to reverse in FY23. The Trustees continue to look for ways to source new funds.
After considering future plans and recent funding successes, the Trustees are confident that the Charity has adequate resources to continue to oeprate for the foreseeable future and so, depsite considering that there are material uncertainties, consider that it is appropriate for the financial statements to be prepared on a going concern basis.
## **2.3 Fund accounting**
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 have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
Page 10
**(A Company Limited by Guarantee)**
## **AGE UK CITY OF LONDON**
## **NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 March 2022**
## **2. Accounting policies (continued)**
## **2.4 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.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
## **2.5 Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
## **2.6 Expenditure**
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 is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
## **2.7 Debtors**
Trade and other 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.
## **2.8 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Page 11
**AGE UK CITY OF LONDON**
**(A Company Limited by Guarantee)**
**NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 March 2022**
## **2. Accounting policies (continued)**
## **2.9 Liabilities and provisions**
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.
Liabilities 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 the best estimate of the amounts required to settle the obligation. Where the effect of the time 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.
## **2.10 Financial instruments**
The Charity only has financial 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.
## **2.11 Pensions**
Age UK London operates a defined contribution pension scheme on behalf of Age UK City of London for the benefit of the Charity's employees. The assets of the scheme are held independently from those of the Charity and of Age UK London in an independently administered fund. The pensions costs charged in the financial statements represent the contributions payable during the year.
## **3. Judgements and key sources of estimation uncertainty**
In preparing these financial statements, management has made judgements, estimates and assumptions that affect the application of the Charity's accounting policies and the reported assets, liabilities, income and exependiture and the disclosures made in the financial statements. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. However, there are no significant areas of judgement in the preparation of the financial statements.
## **4. Critical accounting estimates and areas of judgement**
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The Charity considers that there are material uncertainties regarding going concern. The Charity faces ongoing challenges regarding income generation and enhanced judgement is needed around the Charity's ability to continue as a going concern and around the assumptions considered.
Page 12
## **AGE UK CITY OF LONDON**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 March 2022**
## **5. Income from donations and legacies**
||**Unrestricted**|**Total**|_Total_|
|---|---|---|---|
||**funds**|**funds**|_funds_|
||**2022**|**2022**|_2021_|
||**£**|**£**|_£_|
|Donations|596|**596**|_6,469_|
## **6. Income from charitable activities**
|Square Mile Foodbank
Mansell Street
Only Connect
Square Mile Heath Walks
Digital
Mansell Street Gardening
Cordwainers
Food Poverty
City of London
_Total 2021_
**Investment income**
Bank interest receivable|**Unrestricted**
**funds**
**2022**
**£**
-
-
-
-
-
-
-
-
-
-
_5,000_|**Restricted**
**funds**
**2022**
**£**
-
9,499
-
-
-
-
-
-
25,535
35,034
_64,281_
**Unrestricted**
**funds**
**2022**
**£**
33|**Total**
**funds**
**2022**
**£**
**-**
**9,499**
**-**
**-**
**-**
**-**
**-**
**-**
**25,535**
**35,034**
_69,281_
**Total**
**funds**
**2022**
**£**
**33**|_Total_
_funds_
_2021_
_£_
_41,146_
_9,984_
_4,903_
_4,115_
_2,000_
_1,833_
_300_
_5,000_
_-_
_69,281_|
|---|---|---|---|---|
|||||_Total_
_funds_
_2021_
_£_
_31_|
**7. Investment income**
Page 13
## **AGE UK CITY OF LONDON**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 March 2022**
## **8. Analysis of expenditure by activities**
|Charitable activities
_Total 2021_
**Analysis of direct costs**
Furniture and equipment
Publicity and promotion
Project expenses
Sundries
Membership and subscription
Overhead recharges
**Analysis of support costs**
Staff costs
Governance costs|**Activities**
**undertaken**
**directly**
**2022**
**£**
21,011
_45,667_|**Support**
**costs**
**2022**
**£**
23,169
_26,074_
**Charitable**
**activities**
**2022**
**£**
-
-
8,609
29
317
12,056
21,011
**Charitable**
**activities**
**2022**
**£**
20,769
2,400
23,169|**Total**
**funds**
**2022**
**£**
**44,180**
_71,741_
**Total**
**funds**
**2022**
**£**
**-**
**-**
**8,609**
**29**
**317**
**12,056**
**21,011**
**Total**
**funds**
**2022**
**£**
**20,769**
**2,400**
**23,169**|_Total_
_funds_
_2021_
_£_
_71,741_|
|---|---|---|---|---|
|||||_Total_
_funds_
_2021_
_£_
_90_
_32_
_37,081_
_92_
_240_
_8,132_
_45,667_|
|||||_Total_
_funds_
_2021_
_£_
_24,424_
_1,650_
_26,074_|
Page 14
**(A Company Limited by Guarantee)**
## **AGE UK CITY OF LONDON**
## **NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 March 2022**
## **9. Independent examiner's remuneration**
The independent examiner's remuneration amounts to an independent examiner fee of £2,400 ( _2021_ - _£3,335_ ).
## **10. Staff costs**
|Wages and salaries
Social security costs
Contribution to defined contribution pension schemes|**2022**
**£**
**18,607**
**1,468**
**694**
**20,769**|_2021_
_£_
_21,635_
_1,724_
_1,065_|
|---|---|---|
|||_24,424_|
The average number of persons employed by the Charity during the year was as follows:
||**2022**|_2021_|
|---|---|---|
||**No.**|_No._|
|Coordinator role|**1**|_1_|
No employee received remuneration amounting to more than £60,000 in either year.
The Trustees consider that there are no key management personnel remunerated by the Charity (2021: none).
Page 15
## **AGE UK CITY OF LONDON**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 March 2022**
## **11. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2021 - £NIL)_ .
During the year ended 31 March 2022, no Trustee expenses have been incurred _(2021 - £NIL)_ .
## **12. Debtors**
|**Due within one year**
Prepayments and accrued income|**2022**
**£**
**-**
**-**|_2021_
_£_
_5,000_|
|---|---|---|
|||_5,000_|
## **13. Creditors: Amounts falling due within one year**
|Amounts owed to group undertakings
Accruals and deferred income
Deferred income at 1 April 2021
Resources deferred during the year
Amounts released from previous periods|**2022**
**£**
**9,539**
**11,870**
**21,409**
**2022**
**£**
**11,637**
**9,366**
**(11,637)**
**9,366**|_2021_
_£_
_41,686_
_18,555_|
|---|---|---|
|||_60,241_|
|||_2021_
_£_
_5,103_
_11,637_
_(5,103)_|
|||_11,637_|
Deferred income relates to income received during the year to which the Charity did not have unconditional entitlement at the balance sheet date.
## **14. Financial instruments**
||**2022**|_2021_|
|---|---|---|
||**£**|_£_|
|**Financial assets**|||
|Financial assets measured at fair value through income and expenditure|**37,457**|_79,806_|
Page 16
**(A Company Limited by Guarantee)**
## **AGE UK CITY OF LONDON**
## **NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 March 2022**
## **15. Statement of funds**
## **Statement of funds - current year**
|**Unrestricted funds**
General Funds - all funds
**Restricted funds**
Cordwainers
Mansell St Gardening
Mansell Street
Square Mile Health Walks
Digital
City of London
**Total funds**|**Balance at 1**
**April 2021**
**£**
**21,452**
**450**
**332**
**1,404**
**646**
**281**
**-**
**3,113**
**24,565**|**Income**
**£**
**629**
**-**
**-**
**9,499**
**-**
**-**
**25,535**
**35,034**
**35,663**|**Expenditure**
**£**
**(33,719)**
**-**
**-**
**(7,890)**
**(2,571)**
**-**
**-**
**(10,461)**
**(44,180)**|**Balance at**
**31 March**
**2022**
**£**
**(11,638)**
**450**
**332**
**3,013**
**(1,925)**
**281**
**25,535**
**27,686**
**16,048**|
|---|---|---|---|---|
The restricted reserve contains any unspent funding provided to the charity for a specific purpose and is ring fenced for these purposes:
- Cordwainers restricted fund is for runnign events supporting volunteer
- Mansell St Gardening fund is for building a garden within the community
- Mansell Street fund is for the provision of wellbeing activities within the community
- Square Mile Health Walks fund is for running health walks
- Digital fund is for work associated with digital inclusion
Page 17
## **AGE UK CITY OF LONDON**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 March 2022**
## **15. Statement of funds (continued)**
## **Statement of funds - prior year**
|**Unrestricted funds**
General Funds - all funds
**Restricted funds**
Only Connect
Cordwainers
Mansell St Gardening
Square Mile Food Bank
Mansell Street
Square Mile Health Walks
Digital
**Total funds**|_Balance at_
_1 April 2020_
_£_
_15,502_
_4,611_
_300_
_167_
_(55)_
_-_
_-_
_-_
_5,023_
_20,525_|_Income_
_£_
_11,500_
_4,903_
_300_
_1,833_
_41,146_
_9,984_
_4,115_
_2,000_
_64,281_
_64,281_|_Expenditure_
_£_
_(9,231)_
_(5,833)_
_(150)_
_(1,668)_
_(41,091)_
_(8,580)_
_(3,469)_
_(1,719)_
_(62,510)_
_(71,741)_|_Transfers_
_in/out_
_£_
_3,681_
_(3,681)_
_-_
_-_
_-_
_-_
_-_
_-_
_(3,681)_
_-_|_Balance at_
_31 March_
_2021_
_£_
_21,452_|
|---|---|---|---|---|---|
||||||_-_
_450_
_332_
_-_
_1,404_
_646_
_281_
_3,113_|
||||||_24,565_|
**16. Summary of funds Summary of funds - current year**
|General funds
Restricted funds
**Total funds**|**Balance at 1**
**April 2021**
**£**
**21,452**
**3,113**
**24,565**|**Income**
**£**
**629**
**35,034**
**35,663**|**Expenditure**
**£**
**(33,719)**
**(10,461)**
**(44,180)**|**Balance at**
**31 March**
**2022**
**£**
**(11,638)**
**27,686**
**16,048**|
|---|---|---|---|---|
Page 18
## **AGE UK CITY OF LONDON**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS For the Year Ended 31 March 2022**
## **16. Summary of funds (continued)**
## **Summary of funds - prior year**
|General funds
Restricted funds
**Total funds**|_Balance at_
_1 April 2020_
_£_
_15,502_
_5,023_
_20,525_|_Income_
_£_
_11,500_
_64,281_
_75,781_|_Expenditure_
_£_
_(9,231)_
_(62,510)_
_(71,741)_|_Transfers_
_in/out_
_£_
_3,681_
_(3,681)_
_-_|_Balance at_
_31 March_
_2021_
_£_
_21,452_
_3,113_
_24,565_|
|---|---|---|---|---|---|
## **17. Analysis of net assets between funds**
## **Analysis of net assets between funds - current year**
|**Unrestricted**
**funds**
**2022**
**£**
Current assets
37,457
Creditors due within one year
(21,409)
Difference
(27,686)
**Total**
(11,638)|**Restricted**
**funds**
**2022**
**£**
-
-
27,686
27,686|**Total**
**funds**
**2022**
**£**
**37,457**
**(21,409)**
**-**
**16,048**|
|---|---|---|
## **18. Pension commitments**
The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the Charity to the fund in the year of £694 (2021: £1,065).
## **19. Related party transactions**
In 2022, Age UK London (its parent charity until December 2021) charged Age UK City of London £8,432 (2021: £24,425) of pay costs, £3,946 (2021: £4,675) overheads and £5,636 (2021: £3,456) of general management time. As at 31 March 2022, there is a creditor balance of £9,539 (2021: £41,686) due to Age UK Camden, the Charity's parent charity from December 2022..
## **20. Controlling party**
The ultimate controlling party is the parent company, Age UK Camden Ltd.
Page 19