2022-08-31-accounts - Age Concern Tyneside South

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COMPANY REGISTRATION NUMBER: 10294887 CHARITY REGISTRATION NUMBER: 1168807

Age Concern Tyneside South Company Limited by Guarantee

Financial Statements

31 August 2022

STEPHENSON COATES AUDIT LIMITED

Chartered Accountants West 2, Asama Court Newcastle Business Park Newcastle upon Tyne NE4 7YD

Age Concern Tyneside South

Company Limited by Guarantee

Financial Statements

Year ended 31 August 2022

	Page
Trustees' annual report (incorporating the directors’ report)	1
Independent auditor's report to the members	10
Statement of financial activities (including income and
expenditure account)	13
Statement of financial position	14
Statement of cash flows	15
Notes to the financial statements	16

Age Concern Tyneside South

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Directors’ Report)

Year ended 31 August 2022

The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 August 2022.

Chair's report

I am pleased to present to you our annual accounts in my capacity as Interim Chair.

I would like to take this opportunity to thank my fellow Trustees and express my gratitude for their support and collaborative work commitment. I would also like to place on record my appreciation for all the work our staff and volunteers do; their commitment is exemplary and without them, Age Concern Tyneside South would not be able to offer the incredible services that they do; this has been doubly so during the second year of the Covid-19 pandemic.

It has been a very busy year for our organisation, to manage the constantly changing landscape within society and the changing needs of old people during the aftermath of the pandemic, in particular, but thanks to the direction of the senior management team and trustees the organisation continues progress with an excellent year and with a positive forecast for the future.

The charity's financial position is outlined in this report. Our senior management team have worked hard to manage a number of difficult challenges during another difficult year. Their energy and skills, with the dedication of the board, have ensured we continue to have strong governance and we continue to deliver exceptional value for money and a number of services that are fit for purpose that reflects the charity’s values. This has allowed us to rebuild reserves this year to a more sustainable level going forward.

We continue to develop our understanding of the local population and their needs. This continues to aid us in progressing our strategic objective of making South Tyneside the most age friendly borough in the country. We will not be able to do this alone and we will continue to forge strong links with the community, and our statutory and charity partners over the next three years to deliver our goal.

During the year covered by this annual report we are pleased to welcome new Trustees: Norman Kaier; Jude Puech; Margaret Adams; and Ian Brimer who will help us as an organisation as we progress going forward, this takes our board to 8 with 75% living within the borough across all 3 PCNs and Locality areas, with most being aged over 50 making them representative.

The organisation is continuing to establish itself in its sixth year as a new charity within the Borough of South Tyneside. Taking into account the challenges faced by all new charities accessing funding streams, alongside the recovery from the Global Pandemic brought about from the Covid-19 virus, the organisation has had a good year. The contracts with Statutory Partners have been increased and this assisted in the increase in the projected surplus.

This can be demonstrated within the accounts by the increase in turnover of £573,219 and the increase in the average headcount of 20 to undertake this work resulting in an increase in the surplus of £175,335.

A continuing cost review with a programme of achievable reduction is now in place for the financial year 2022-23 across the whole organisation, with a regular review of Senior Management Team costs. The organisation is also starting to achieve new grant and contract income

Finally, I would like to take this opportunity on behalf of the Board to express to all our partners and stakeholders who contribute to the work of the charity. Without you we would not be as dynamic, flexible and responsive as we have been over the past ever-changing year and you all, collectively and individually, ensure we maintain our values as we provide the services required to enhance the lives of all who use our services.

We all look forward to continuing to serve the older people who use our services across South Tyneside.

Best Wishes

Cameron Ward Interim Chair

Age Concern Tyneside South

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Directors’ Report)

Year ended 31 August 2022

Reference and administrative details Registered charity name Age Concern Tyneside South Charity registration number 1168807 Company registration number 10294887 Principal office and registered 29 Beach Road office South Shields NE33 2QU England The trustees M Adams (Appointed 1 April 2022 I Brimer (Appointed 1 April 2022) S Duckworth (Resigned 31 March 2022) R Gillies N Kaier (Appointed 1 September 2021) J Puech (Appointed 7 November 2021) R Staward (Treasurer) A Trollope I C Ward (Interim Chair) Accountants Stephenson Coates Audit Limited Chartered Accountants West 2, Asama Court Newcastle Business Park Newcastle upon Tyne NE4 7YD Solicitor Collingwood Legal 30 Riverside Studios Amethyst Road Newcastle Business Park Newcastle upon Tyne NE4 7YL Bankers Barclays Bank Fawcett Street Sunderland SR1 1RS

Age Concern Tyneside South

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Directors’ Report) (continued)

Year ended 31 August 2022

Structure, governance and management

Governing documents

The organisation is a charitable company limited by guarantee. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up, members are required to contribute an amount not exceeding £1.

Recruitment, appointment and training new trustees

Charity trustees for the purpose of charity law and under the company's Articles are known as members of the Management Committee. Under the requirements of the Memorandum and Articles of Association the members of the Management Committee are elected for three years.

All members of the Management Committee give their time voluntarily and receive no benefits from the charity.

The Management Committee meet on a bi-monthly basis and are responsible for the strategic direction and policy of the charity.

Policies for the induction and training of new trustees

Age Concern Tyneside South recognises that an effective board of trustees is essential if the charity is to be effective in achieving its objects. The board must seek to be representative of the people with whom the charity works and must have available to it, all of the knowledge and skills required to run the charity. Individual trustees must have sufficient knowledge, both of trusteeship in general and of the charity's activities, to enable them to carry out their role and to represent the charity at meetings and other events.

The Chief Officer and Chair of Trustees are responsible for the ensuring that the induction process is arranged and completed.

A training programme is in place to ensure that any newly appointed trustee will receive training on all matters necessary to enable them to perform their duties effectively. This will be tailored to their specific needs but, unless the appointee is already sufficiently experienced, should cover as a minimum:- governance and management; equal opportunities; a thorough induction to the history and current activities of the organisation; sufficient explanation of the charity’s financial accounts and reporting procedures to enable them to exercise fiscal oversight.

Explanation of all charity policies includes those relating to trustee expenses and how they can be claimed. If a new trustee is to take on any specific duties, all needs in relation to this will be assessed. It is acknowledged that trustees have a wide range of other commitments and every effort will be made to make this training accessible to the individual by arranging it to be conducted at times convenient to them.

Organisational structure and decision making

A line management system is in place with day-to-day responsibility for the management of the organisation resting with the Chief Officer. The Chief Officer is responsible for ensuring that the charity delivers the services specified and that key performance indicators are met. Day-to-day operational management is headed by individual team members using the reporting structures and line management to finally report to the Chief Officer and Trustees.

Age Concern Tyneside South

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Directors’ Report) (continued)

Year ended 31 August 2022

Pay policy for senior staff

The Chief Officer implements the pay policy on an ongoing basis and is responsible for pay review and setting salaries for senior staff. The Board reviews the Chief Officer's salary annually and is responsible for making any decisions about remuneration of the Chief Officer.

Employment policies

The charity operates a number of key employment policies including Equality and Diversity and Health and Safety.

Risk management

The systems of internal control are designed to provide reasonable assurance against material misstatement or loss. Internal control processes implemented by the Trustees include:

Board scrutiny of the risk register.
A strategic plan and annual budget approved by the trustees.
Regular consideration by Trustees of the financial results, variances from budget, forecasts and performance indicators.
Delegation of authority and segregation of duties.
Identification of risk and statutory compliance issues including safeguarding.

Trustees have in place a formal risk management framework and policy to assess risk and implement management strategies. A risk register is in place which is scrutinised weekly by the senior management team. This process reports to the board on a quarterly basis reporting exception.

The process identifies the types of risk the charity faces, prioritises them in terms of the likelihood of occurrence and potential impact, and identifies the means of mitigating these risks.

Investment Policy

The Articles of Association state that in the furtherance of Age Concern Tyneside South's objectives the charity shall have the power to invest monies not immediately required of its purpose. As of August 2022, no such investments were held.

Principal funding sources

South Tyneside Council
South Tyneside Clinical Commissioning Group
Big Lottery - Reaching Communities
Henry Smith
Community Foundation
Kellet Fund
UK Online IT Training

Reserves Policy

As a minimum ACTS will aim to hold in reserve enough money to cover its known financial commitments (e.g. rental of office space, rental of equipment such as photocopiers), the core functions of the organisation (i.e. those functions not directed to service delivery) for 3 months and enough money to cover its redundancy commitments to employees. Free reserves at 31 August 2022 were £383,576.

Age Concern Tyneside South

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Directors’ Report) (continued)

Year ended 31 August 2022

Key Management Personnel

The key management personnel are the non-executive directors (Trustees) of the organisation; and those responsible for the day-to-day management of the charity's activities:

Chief Officer Grahame Cassidy Deputy Chief Officer Susan Wicks Services Development Officer Kate Price

Objectives and activities

The objects for which the charity is established and to which it is specifically restricted are to promote the following purposes for the benefit of the public and/or older people in and around The Borough of South Tyneside:

preventing or relieving the poverty of older people;
advancing education;
preventing or relieving sickness, disease or suffering in older people (whether emotional, mental or physical);
promoting equality and diversity;
promoting the human rights of older people in accordance with the Universal Declaration of Human Rights;
assisting older people in need by reason of ill-health, disability, financial hardship, social exclusion or other disadvantages; and
such other charitable purposes for the benefit of older people as the Trustees may from time to time decide the outcome of this being the promotion of the well-being of older people.

The charity has the following powers exercisable in achieving its objectives;

to encourage, promote and organise direct services appropriate to the needs of individual elderly people or groups of elderly people and if thought fit to make reasonable charges for any services provided.
to promote and organise co-operation in the achievement of the above objects and to that end to support, join in with and co-operate with other charities, voluntary bodies, statutory authorities and other organisations operating in furtherance of the objects or of similar charitable purposes and to exchange information and advice with them.
to establish, support, undertake or execute any charitable trusts, associations or institutions formed for all or any of the objects.
to establish or acquire subsidiary companies to assist or act as agents for the charity.
to promote and carry out, or assist in promoting and carrying out, surveys, investigations and research.
to provide food, drink and refreshments as appropriate but only for persons participating in the activities of the charity.
to arrange and provide for, or join in arranging and providing for, the holding of exhibitions, meetings, lectures, classes and training courses.
to publish books, pamphlets, reports, leaflets, journals, films, videos, tapes and other material.
to appoint and constitute such advisory committees as the Board of Trustees.

The charity has achieved its objectives as illustrated in the review of our achievements and performance.

Age Concern Tyneside South

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Directors’ Report) (continued)

Year ended 31 August 2022

Public Benefit

The aims of our services, for older people continue to be ageing well, reducing social isolation, maximising income, advocacy, enabling and promoting physical health and wellbeing.

The trustees are satisfied that in accordance with the Charity Commission guidelines, Age Concern Tyneside South meet the public benefit requirements. The trustees have regard to this guidance when exercising any powers or duties to which the guidance is relevant.

Achievements and performance

1. Sustaining and Growing

The aim is to diversify our income streams, to include charitable trust grants, statutory sector contracts, services we make a charge for, developing community fundraising and developing a range of paid for services; this has been more difficult due to the pandemic, but remains a key objective.

We retained our Local Authority contracts for FY 2021-23. We have continued to successfully deliver our services as funded by charitable trusts.
We increased our Clinical Commissioning Group Contract in FY 2021-23 based on our staff’s excellent delivery.
We have taken on a 3+2 year contract to deliver dementia day care opportunities.
We aim to maintain and where appropriate grow a more commercial approach alongside our charitable service delivery.
We continue to meet older people’s needs by focusing on person-centred activities and involving older people in the design of our services.

2. Innovating and improving

We have continued to identify opportunities to work across a wider range of services; to this end we have added Urgent Response to our Home from Hospital Service.
We have successfully grown Age Concern Tyneside South in its 6th year, with increased income, numbers of people helped, staff and volunteers.
We have continued to use the holistic assessment tool with the majority of clients adding in additional information and options as funding is obtained.
We have increased the number and quality of grant applications to meet locally identified people’s need; these will have a positive impact going forward.

3. Delivering a range of high quality person centred services and social enterprises

The aims of our services for older people continue to be reducing social isolation, maximising income, enabling independent living and promoting health and emotional wellbeing.

Our Information and Advice service provided 38,759 contacts to help 5,845 older people with queries or casework in benefits, housing care and local services, including 4,588 additional awards of benefits, grants and entitlements totalling £6.85 million for local people spent locally often within the South Tyneside economy.
We provided 3,860+ social opportunities during the period through our community-based provision all in a Covid secure way. These services offer a variety of activities that tackle social isolation and loneliness to improve the wellbeing of the service users. We are continuing to build back to pre-pandemic levels.
Our exercise classes, leisure and learning activity groups were attended over 1,960 times

Age Concern Tyneside South

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Directors’ Report) (continued)

Year ended 31 August 2022

Achievements and performance (continued)

Supporting people to remain physically active to improve their health long term.
We provided advocacy support hours of 1,685 during the year.
Our Integrated Service and additional Winter Pressures increased to provide 38,548 contacts to help 13,141 people. We provided 2,442 fall prevention home assessments and installed 5,148 aids and adaptations as well as removing 240 hazards in homes of older people in the borough. We also supported 3,650 people upon discharge from hospital, completing 1,003 activity visits to specifically prevent an admission/re-admission to hospital.
343 volunteers supported our organisation providing over 11,895 added value hours, the equivalent of 6.5 full time members of staff @ 35 hours per week.
We delivered over 600 Christmas hampers which was funded by the Barbour Foundation and added to by other donations e.g. (South Tyneside Council, EE, Sky …).
We provided transport and support to over 300 people to attend Vaccination appointments during the year

4. Involving influencing and promoting social inclusion:

We continue to work with wider stakeholders including the Clinical Commissioning Group (CCG), Local Authority, Public Health and key partners in the Voluntary and Community sector.
We provide a consultation platform utilised by the Local Government and CCG in obtaining the views of older people in the borough.
We have actively contributed to the main engagement mechanisms established by the Statutory Sector - at which we are able to influence local policy and decision making.
We have become Part of a Partnership with Vison and Hearing Support Tyne and Wear Museums, Cultural Spring Mental Health Concern and Your Voice Counts working in a place- based way around building community resilience. This also led to some Digital inclusion joint work.
We have also been fully involved with Charitable sectors initial conversations and steps towards working differently in an alliancing way.
We have offered subsidised room hire to a start-up CIC.
We have provided free space to a local Adult ADHD group so they could meet. And A committee space for Young person’s ADHD
We have provided free space to a volunteer START group to help them meet with recovering alcoholics

Financial review

Income of £1,548,912 (2021: £975,693) has been generated during the period; this includes over £175,000 (2021: £117,000) income from paid for services.

The statement of financial activities shows an overall surplus of £283,960 (2021: £108,625).

A continuing cost review with a programme of achievable reduction is now in place for the financial year 202223 across the whole organisation, with a regular review of Senior Management Team costs. The organisation is also starting to achieve new grant and contract income.

Age Concern Tyneside South

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Directors’ Report) (continued)

31 August 2022

Plans for future periods

Our strategic aims:

1. Sustaining and Growing

We will continue to engage with older people so we can develop a diverse range of funding streams:

Research and develop new sources of income which includes paid for services.
Engage proactively with public sector commissioning bodies, ensuring our work is aligned to their own strategic priorities.
Become the provider of choice for people with a direct/personal budget and those who pay for their own social care.
Improve our use of market analysis and social media in service development.
Work more collaboratively with partnership bids, aiming for this to be a larger share of our overall number of grant applications.

2. Innovating and Improving

Ensure all services are people centred (what matters to you).
All our service provision is equitable.
Build and maintain 1st class performance by engaging our staff and volunteers in our strategy and values.
Retain ISO: 9001 Quality Standard.
Obtain Advice Quality Standard
Obtain additional Quality Standards as we are in a position to do so
Continue to improve our external communication and profile.
Continue to achieve cost efficiencies across all areas to maximise the impact of limited resources.
Improve our use of outcomes evaluation methods to better demonstrate our social, health and financial outcomes and impacts.

3. Delivering a range of high quality person centred services and social enterprises

Focus on reducing social isolation, maximising income, enabling independent living and promoting physical health and emotional wellbeing.
Position ourselves in the market as One Stop Shop/Wellness Hub for Older People's community-based services including low level dementia.
Create a bespoke, person centred package of support which can be tailed to the needs and circumstances of individuals.
Develop partnerships with organisations who share our vision and values.
Expand dementia provision.

4. Involving, influencing and promoting social inclusion

Involve and engage with older people, our staff, volunteers and other stakeholders, using the intelligence gathered to develop our own services and social enterprises as well as influencing and lobbying for change and improvement in the lives of older people in our community.
Ensure we are accessible and inclusive and that communities that experience discrimination are actively included in our work.
To work in a more place-based locality focused way.

Age Concern Tyneside South

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Directors’ Report) (continued)

31 August 2022

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies’ exemption.

The trustees' annual report was approved on 27[th] June 2023 and signed on behalf of the board of Trustees by:

I C Ward Chair

Age Concern Tyneside South

Company Limited by Guarantee

Independent Auditor's Report to the Members of Age Concern Tyneside South

31 August 2022

Opinion

We have audited the financial statements of Age Concern Tyneside South (the 'charity') for the year ended 31 August 2022 which comprise the statement of financial activities (including income and expenditure account), statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

give a true and fair view of the state of the charity's affairs as at 31 August 2022 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company’s ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees’ with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Age Concern Tyneside South

Company Limited by Guarantee

Independent Auditor's Report to the Members of Age Concern Tyneside South

31 August 2022

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the trustees' report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of trustees' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the directors' report and from the requirement to prepare a strategic report.

Responsibilities of trustees

As explained more fully in the trustees' responsibilities statement, the trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Age Concern Tyneside South

Company Limited by Guarantee

Independent Auditor's Report to the Members of Age Concern Tyneside South

31 August 2022

Auditor's responsibilities for the audit of the financial statements ( continued )

We obtained an understanding of the legal and regulatory framework applicable to both the company itself and the sector in which it operates. We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our sector experience and through discussion with the Key Management Personnel. The most significant identified that directly affect the financial statements include safeguarding, financial reporting legislation (including related companies’ legislation), the Charities Act 2011 and UK taxation legislation. The company is subject to other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect: Health and Safety, Employment Law and Data Protection regulations, recognising the nature of the company’s activities.

We considered the extent of compliance with those laws and regulations as part of our procedures on the related financial statements. Our audit procedures included:

making enquiries of Trustees and Key Management Personnel as to where they consider there to be susceptibility to fraud and whether they have any knowledge or suspicion of fraud;
obtaining an understanding of the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations;
assessing the design effectiveness of the controls in place to prevent and detect fraud;
assessing the risk of management override, including identifying and testing journal entries;
challenging the assumptions and judgements made by management in its significant accounting estimates.

Our audit did not identify any key audit matters relating to the detection of irregularities including fraud. However, despite the audit being planned and conducted in accordance with ISAs (UK) there remains an unavoidable risk that material misstatements in the financial statements may not be detected owing to inherent limitations of the audit and that by their very nature, any such instances of fraud or irregularity likely involve collusion, forgery, intentional misrepresentations, or the override of internal controls.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed.

John Oswald BA FCA Senior Statutory Auditor

Stephenson Coates Audit Limited Chartered accountants West 2, Asama Court Newcastle Business Park Newcastle upon Tyne NE4 7YD

27[th] June 2023

Age Concern Tyneside South

Company Limited by Guarantee

Statement of Financial Activities (including income and expenditure account)

31 August 2022

			2022		2021
		Unrestricted	Restricted
		funds	funds	Total funds	Total funds
	Note	£	£	£	£
Income and endowments
Donations, grants & legacies	5	95,610	327,872	423,482	394,068
Charitable activities	6	1,085,020	–	1,085,020	550,705
Other trading activities	7	23,178	–	23,178	10,663
Investment income	8	280	–	280	88
Other income	9	16,952	–	16,952	20,169
Total income		1,221,040	327,872	1,548,912	975,693
		================	================	================	================
Expenditure
Expenditure on raising funds:
Costs of other trading activities	10	1,634	–	1,634	1,130
Expenditure on charitable activities	11,12	988,446	274,872	1,263,318	865,938
Total expenditure		990,080	274,872	1,264,952	867,068
		================	================	================	================
Net income and net movement in funds		230,960	53,000	283,960	108,625
		================	================	================	================
Reconciliation of funds
Total funds brought forward		540,991	5,000	545,991	437,366
Total funds carried forward		771,951	58,000	829,951	545,991
		================	================	================	================

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 16 to 28 form part of these financial statements.

Age Concern Tyneside South

Company Limited by Guarantee

Statement of Financial Position

31 August 2022

		2022	2021
		£	£
Fixed assets
Tangible fixed assets	17	562,613	563,669
Investments	18	2	2
		562,615	563,671
Current assets
Debtors	19	132,273	83,084
Cash at bank and in hand		799,296	361,348
		931,569	444,433
Creditors: amounts falling due within one year	20	513,245	285,907
Net current assets		418,324	158,526
Total assets less current liabilities		980,939	722,197
Creditors: amounts falling due after more than one year	21	150,988	176,206
Net assets		829,951	545,991
		================	================
Funds of the charity
Restricted funds		58,000	5,000
Unrestricted funds		771,951	540,991
Total charity funds	23	829,951	545,991
		================	================

These financial statements were approved by the board of trustees and authorised for issue on 27[th] June 2023, and are signed on behalf of the board by:

IC Ward Interim Chair

The notes on pages 16 to 28 form part of these financial statements.

Age Concern Tyneside South

Company Limited by Guarantee

Statement of Cash Flows

Year ended 31 August 2022

Cash flows from operating activities Net income Adjustments for: Depreciation of tangible fixed assets Other interest receivable and similar income Interest payable and similar charges Accrued expenses Changes in: Trade and other debtors Trade and other creditors Cash generated from operations Interest received Net cash from operating activities Cash flows from investing activities Purchase of tangible assets Net cash used in investing activities Cash flows from financing activities Repayments of borrowings Net cash used in financing activities Net increase in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year Statement of net funds: Cash and cash equivalents Bank borrowings due within one year Bank borrowings due over one year	2022 £ 283,960 18,628 (280) 3,705 (3,704) (49,189) 218,972 472,092 280 472,372 ============== (17,572) (17,572) ============== (16,852) (16,852) ============== 437,948 361,348 799,296 ================ 2022 £ 799,296 (23,252) (150,988) 625,056	2021 £ 108,625 16,601 (88) 6,806 (550) (1,483) 4,579 134,489 88 134,577 ============== (2,060) (2,060) ============== (21,696) (21,696) ============== 110,821 250,527 361,348 ================ 2021 £ 361,348 (14,886) (176,206) 170,256

The notes on pages 16 to 28 form part of these financial statements.

Age Concern Tyneside South

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 August 2022

1. General information

The charity is a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 29 Beach Road, South Shields, NE33 2QU, England.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.

3. Accounting-policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The charitable company constitutes a public benefit entity as defined by FRS102.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The directors of the charitable company are satisfied that there are no material uncertainties concerning the charitable company's ability to continue as a going concern for a period of at least 12 months from the date of approval of the financial statements. Accordingly, the financial- statements continue to be prepared on the going concern basis.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

Age Concern Tyneside South

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2022

3. Accounting policies (continued)

Incoming resources

All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

Donations, grants and gifts are recognised when receivable. In the event that a donation is subject to fulfilling performance conditions before the charity is entitled to the funds, the income is deferred and not recognised until it is probable that those conditions will be fulfilled in the reporting period. Income from Gift Aid tax reclaims is recognised for any donations with relevant Gift Aid certificates recognised in income for the year. Any amounts of Gift Aid not received by the year-end are accounted for in income and accrued income in debtors.

For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed.

Income from NHS contracts, government and other grants, whether ‘capital’ grants or ‘revenue’ grants, are recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.

Investment income relates to interest earned through holding assets on deposit.

Fixed asset gifts in kind are recognised when receivable and included at fair value. They are not deferred over the life of the asset.

Donated goods and services

Donated services or facilities are recognised when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the item is probable and that economic benefit can be measured reliably.

Voluntary assistance

Time is expended on the charity’s activities and governance which is donated free of charge. It is impractical to quantify the value of the time given, and accordingly it is neither recorded as donated income nor as an expense in the financial statements.

Age Concern Tyneside South

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2022

3. Accounting policies (continued)

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

Expenditure on raising funds includes the costs of all fundraising activities, events, non- charitable trading activities, and the sale of donated goods.
Expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
Other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property	-	2% straight line
Fixtures and fittings	-	15% reducing balance
Motor vehicles	-	25% reducing balance

Investments

Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Age Concern Tyneside South

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2022

3. Accounting policies (continued)

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Age Concern Tyneside South

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2022

3. Accounting policies (continued)

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.

Critical accounting estimates and judgements

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.

There are no critical judgements, significant assumptions concerning the future and key sources of estimation of uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

4. Limited by guarantee

Age Concern Tyneside South is a company limited by guarantee, registered in England and Wales, (number 10294887) and not having a share capital. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

5. Donations, Legacies and Grants

Donations, Legacies and Grants
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2022
	£	£	£
Donations
Donations	54,585	–	54,585
Legacies
Legacies	–	–	–
Grants Community Lottery	–	99,614	99,614
Community Foundation Tyne & Wear and Northumberland	–	70,106	70,106
Henry Smith Foundation	–	59,950	59,950
DWP Kickstart	–	33,685	33,685
South Tyneside MBC	31,145	–	31,145
Energy Redress	–	25,975	25,975
Masonic Charitable	–	19,747	19,747
Vision & Hearing	–	10,795	10,795
John Knott	–	8,000	8,000
Ask Allison	4,410	–	4,410
Catherine Cookson	3,500	–	3,500
Hospitality & Hope	1,470	–	1,470
The Good Things Foundations	500	–	500
	95,610 =============	327,872 ===========	423,482 ===========

Age Concern Tyneside South

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2022

5.	*Donations, Legacies & Grants(continued)***
			Unrestricted	Restricted	Total Funds
			Funds	Funds	2021
			£	£	£
	Donations
	Donations		28,671	–	28,671
	Legacies
	Legacies		76,975	–	76,975
	Grants
	Henry Smith Foundation		–	59,300	59,300
	South Tyneside MBC		55,501	–	55,501
	Community Foundation Tyne & Wear and		–	43,212	43,212
	Northumberland
	Big Lottery – Reaching Communities		33,085	–	33,085
	Community Lottery		–	30,123	30,123
	Energy Redress		25,373	–	25,373
	Masonic Charitable		–	19,530	19,530
	The Good Things Foundations		10,750	–	10,750
	The Sobell Foundation		5,000	–	5,000
	Elise Pickering		–	5,000	5,000
	Other		1,543	–	1,548
			236,903	157,165	394,068
			================	================	================
6.	Charitable activities
		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2022	Funds	2021
		£	£	£	£
	South Tyneside MBC	408,490	408,490	231,456	231,456
	South Tyneside CCG	500,863	500,863	201,796	201,796
	Home Support	175,667	175,667	117,454	117,454
		1,085,020	1,085,020	550,705	550,705
		================	================	================	================

Age Concern Tyneside South

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2022

7. Other trading activities

Other trading activities
		Unrestricted	Restricted	Total Funds
		Funds	Funds	2022
		£	£	£
Fundraising events		130	–	130
Rental income & room hire		20,473	–	20,473
Reception income		2,575	–	2,575
		23,178	–	23,178
		==============	=======	==============
		Unrestricted	Restricted	Total Funds
		Funds	Funds	2021
		£	£	£
Fundraising events		15	–	15
Rental income & room hire		9,680	–	9,680
Reception income		968	–	968
		10,663	–	10,663
		==============	=======	==============
Investment income
	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2022	Funds	2021
	£	£	£	£
Bank interest receivable	280	280	88	88
	=======	=======	=======	=======

8. Investment income

9. Other income

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2022	Funds	2021
	£	£	£	£
Other income	16,952	16,952	8,965	8,965
Receipts from the Coronavirus Job
Retention Scheme	–	–	11,204	11,204
	16,952	16,952	20,169	20,169
	================	================	================	================
Costs of other trading activities
	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2022	Funds	2021
	£	£	£	£
Costs of raising funds	1,634	1,634	1,130	1,130
	=======	=======	============	============

10. Costs of other trading activities

Age Concern Tyneside South

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2022

11. Expenditure on charitable activities by fund type

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2022
	£	£	£
Direct costs	21,842	428	22,270
Advertising	31	–	31
Premises costs	14,943	8,412	23,355
Office costs	6,521	14,986	21,507
Travel costs	21,254	–	21,254
Motor running expenses	19,243	–	19,243
Other costs	10,983	711	11,694
Bank charges and interest	1,860	–	1,860
Staff costs	694,675	182,874	877,549
Legal and professional costs	9,190	1,687	10,877
Support costs	187,904	65,774	253,678
	988,446	274,872	1,263,318
	================	================	================
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2021
	£	£	£
Direct costs	13,298	273	13,571
Advertising	–	–	–
Premises costs	12,036	5,369	17,405
Office costs	11,897	18,336	30,233
Travel costs	11,274	–	11,274
Motor running expenses	25,240	–	25,240
Other costs	10,725	454	11,179
Bank charges and interest	–	–	–
Staff costs	441,063	107,945	549,008
Legal and professional costs	2,272	1,077	3,349
Support costs	162,702	41,979	204,680
	690,505	175,433	865,938
	================	================	================

Age Concern Tyneside South

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2022

12. Expenditure on charitable activities by activity type

		Activities
		undertaken	Support	Total funds	Total fund
		directly	costs	2022	2021
		£	£	£	£
	Direct costs	22,270	148	22,418	13,571
	Advertising	30	–	30	1,929
	Premises costs	23,355	12,323	35,678	19,867
	Office costs	21,507	55,782	77,289	64,400
	Travel costs	21,254	3,577	24,831	13,925
	Motor running expenses	19,243	–	19,243	25,463
	Other costs	11,694	1,098	12,792	12,894
	Bank charges and interest	1,860	1,845	3,705	7,969
	Staff costs	877,549	152,713	1,030,262	681,897
	Legal and professional costs	10,877	7,564	18,441	7,422
	Depreciation	–	18,628	18,628	16,601
		1,009,640	253,678	1,263,318	865,938
		================	================	================	================
13.	Net income
	Net income is stated after charging/(crediting):
				2022	2021
				£	£
	Depreciation of tangible fixed assets			18,628	16,601
				==============	==============
14.	Auditor / Independent examination fees
				2022	2021
				£	£
	Fees payable to the auditor / independent examiner for:
	Audit / Independent examination of the financial statements			4,500	1,900
				============	============
15.	Staff costs
	The total staff costs and employee benefits	for the reporting	period are analysed as follows:
				2022	2021
				£	£
	Wages and salaries			953,554	621,100
	Social security costs			58,943	36,776
	Employer contributions to pension plans			7,794	7,605
				1,020,291 ================	665,481 ================

The average head count of employees during the year was 63 (2021: 43).

One employee received employee benefits of more than £60,000 during the year (2021: Nil).

The Key Management Personnel of the charity comprises the Trustees, the Chief Office, the Deputy Chief Officer, the Services Development Officer and the Development Coordinator & Funding Officer. The total employee benefits of the Key Management Personnel of the Charity was £117,579 (2021: £112,032).

Age Concern Tyneside South

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2022

16. Trustee remuneration and expenses

The charity trustees were not paid or received any other benefits from employment in the year neither were they reimbursed expenses during the year. No charity trustees received payment for professional or other services supplied to the charity.

17. Tangible fixed assets

	Freehold	Fixtures and	Motor
	property	fittings	vehicles	Total
	£	£	£	£
Cost
At 1 September 2021	599,000	54,840	2,750	656,590
Additions	–	16,122	1,450	17,572
	--------------------------------	-------------------------	---------------------------	--------------------------------
At 31 August 2022	599,000	70,962	4,200	674,162
	================	==============	================	================
Depreciation
At 1 September 2021	59,900	32,087	934	92,921
Charge for the year	11,980	5,831	817	18,628
At 31 August 2022	71,880	37,918	1,751	111,549
	================	==============	=======	================
Carrying amount
At 31 August 2022	527,120	33,044	2,449	562,613
	================	==============	==============	================
At 31 August 2021	539,100 ================	22,753 ==============	1,816 ==============	563,669 ================

All fixed assets are held for charitable purposes.

18. Investments

	Shares in
	group
	undertakings
	£
Cost or valuation
At 1 September 2021 and 31 August 2022	2
	=======
Impairment
At 1 September 2021 and 31 August 2022	–
	=======
Carrying amount
At 31 August 2022	2
	=======
At 31 August 2021	2 =======

All investments shown above are held at valuation.

The charitable company owns two £1 ordinary shares, 100% of the voting capital of Age Concern Tyneside South Trading Limited, a company incorporated and registered in England and Wales. The principal activity of the company is the provision of a home care service. From 1 September 2017 this trade transferred to Age Concern Tyneside South. Age Concern Tyneside South Trading Limited was dormant in the year ended 31 August 2022.

Age Concern Tyneside South

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2022

19.	Debtors
		2022	2021
		£	£
	Trade debtors	114,119	78,470
	Other debtors and prepayments	18,154	4,614
		132,273	83,084
		==============	==============
20.	Creditors: amounts falling due within one year
		2022	2021
		£	£
	Bank loan (secured)	23,252	14,886
	Trade creditors	5,324	9,967
	Social security and other taxes	19,208	13,604
	Other creditors	465,461	247,450
		513,245	285,907
		=================	================

Included within other creditors is an amount of £369,613 (2021: £145,833) related to deferred income where funding has been received and not all conditions have been met. The full amount of £145,833 has been released to the SOFA from the previous accounting period and income totalling £369,613 has been deferred at the end of the current accounting period.

21. Creditors: amounts falling due after more than one year

	2022	2021
	£	£
Bank loan (secured)	150,988 ================	176,206 ================

Included within bank loans due after more than one year is an amount of £93,010 (2021: £86,770) in respect of bank loans due within 2 - 5 years of the reporting date, and £57,978 (2021: £82,630) in respect of bank loans due after more than 5 years from the reporting date.

Bank loans totalling £174,240 (2021: £191,092) are secured over 29 Beach Road, South Shields.

22. Pensions and other post-retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £7,794 (2021: £7,605).

23. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
	At			At
	1 September			31 August
	2021	Income	Expenditure	2022
	£	£	£	£
General funds	540,991	1,221,040	(990,080)	771,951
	================	================	================	=================

Age Concern Tyneside South

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2022

23. Analysis of charitable funds (continued)

Restricted funds

Restricted funds
	At				At
	1 September				31 August
	2021	Income	Expenditure		2022
	£	£	£		£
Community Foundation Tyne & Wear &	–	70,106	(54,106)		16,000
Northumberland
Community Lottery	–	99,614	(69,614)		30,000
Henry Smith Foundation	–	59,950	(59,950)		–
Masonic Charitable	–	19,747	(14,747)		5,000
DWP Kick Start	–	33,685	(33,685)		–
Energy Redress	–	25,975	(25,975)		–
John Knott	–	8,000	(1,000)		7,000
Vision & Hearing	–	10,795	(10,795)		–
Elise Pickering	5,000	–	(5,000)		–
	5,000	327,872	(274,872)		58,000
	==============	================	================	===============
Unrestricted funds
	At 1September			At	31 August
	2020	Income	Expenditure		2021
	£	£	£		£
General funds	414,098	818,528	(691,635)		540,991
	================================	================================	================================		================================
Restricted funds
	At
	1 September			At	31 August
	2020	Income	Expenditure		2021
	£	£	£		£
Henry Smith Foundation	–	59,300	(59,300)		–
Community Foundation Tyne & Wear
and Northumberland	790	43,212	(44,002)		–
Community Lottery	–	30,123	(30,123)		–
Masonic Charitable	–	19,530	(19,530)		–
Heritage Lottery Fund	8,203	–	(8,203)		–
Big Lottery Partnership	7,837	–	(7,837)		–
Elise Pickering	–	5,000	–		5,000
Frality & Rockwood Engagement	3,450	–	(3,450)		–
Other	2,988	–	(2,988)		–
	---------------------------	--------------------------------	--------------------------------		---------------------------
	23,368	157,165	(175,433)		5,000
	===========================	================================	================================		===========================

------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

2 7

Age Concern Tyneside South

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 August 2022

24. Analysis of net assets between funds

	Unrestricted	Restricted	Total Funds	Total Funds
	Funds	Funds	2022	2021
	£	£	£	£
Tangible fixed assets	562,615	–	562,615	563,671
Current assets	873,569	58,000	931,569	444,433
Creditors less than 1 year	(513,245)	–	(513,245)	(285,907)
Creditors greater than 1 year	(150,988)	–	(150,988)	(176,206)
Net assets	771,951	58,000	829,951	545,991
	================	==============	================	================

25. Related party transactions

The trustees are not aware of any related party transactions to report (2021: None).