**Company Registration number: 10294887 Charity number: 1168807**
## **Age Concern Tyneside South**
## **Financial Statements**
**For the year ended 31 August 2023**
## **Age Concern Tyneside South**
## **Contents**
||**Page**|
|---|---|
|Report of the Trustees|1 - 8|
|Report of the Independent Auditors|9 – 12|
|Statement of Financial Activities|13|
|Balance Sheet|14|
|Statement of Cash Flows|15|
|Notes to the financial statements|16 - 28|
**Age Concern Tyneside South**
**Report of the Trustees For the year ended 31 August 2023**
The trustees, who are also the directors for the purposes of company law, present their report and the audited financial statements of the charity for the year ended 31 August 2023.
## **Chair's report**
I would like to take this opportunity to thank my fellow Trustees and express my gratitude for their support and dedicated 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 (ACTS) would not be able to offer the incredible services that they do.
It has been another challenging year for our organisation with managing the constantly changing landscape within society and the changing needs of people during the changing responses to the system changes, in particular, but thanks to the direction of the senior management team and trustees the organisation continues to progress with a positive forecast for the future but not without further challenges.
We have been pleased to be successful in adding dementia day opportunities services to our range of provision to people in South Tyneside. We will work in partnership with the local authority, ICP, and other local voluntary sector organisations to enhance the provision of support to this important group of people.
The charity's financial position is outlined in this report which shows a small surplus. We will continue to use our income wisely and will look to make investments where it is financially viable to do so as we continue to improve the financial health of ACTS. Our senior management team have had to work hard to manage the number of difficult decisions during this 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 with services that are fit for purpose reflecting the charity’s values.
We continue to develop our understanding of the local population and their needs. This will aid us in progressing our strategic objective of making South Tyneside the most age friendly borough in the country. We cannot to do this alone and we will continue to forge strong links with the community, our statutory and charity partners to deliver our goal. Ensuring we continue to provide support to smaller charities and the system delivering on our principles and beliefs.
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 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, carers and people suffering from dementia who use our services across South Tyneside.
Best Wishes
Cameron Ward Interim
**1**
**Age Concern Tyneside South**
## **Report of the Trustees** _**(Continued)**_ **For the year ended 31 August 2023**
## **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|
||I Brimer|
||R Gillies|
||N Kaier|
||J Puech|
||R Staward|
||A Trollope|
||I C Ward|
|**Auditor**|Haines Watts Newcastle Limited|
||17 Queens Lane|
||Newcastle upon Tyne|
||NE1 1RN|
|**Solicitor**|Collingwood Legal|
||30 Riverside Studios|
||Amethyst Road|
||Newcastle Business Park|
||Newcastle upon Tyne|
||NE4 7YL|
|**Bankers**|Barclays Bank|
||Fawcett Street|
||Sunderland|
||SR1 1RS|
**2**
**Age Concern Tyneside South**
**Report of the Trustees** _**(Continued)**_ **For the year ended 31 August 2023**
## **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 continue 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 charities 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 operation management is headed by individual team members using the reporting structures and line management to finally report to the Chief Officer and Trustees.
## **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, Diversity, and Inclusion, and Health and Safety.
**3**
**Age Concern Tyneside South**
## **Report of the Trustees** _**(Continued)**_ **For the year ended 31 August 2023**
## **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 by 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 2021, no investments were held.
## **Principal funding sources**
South Tyneside Council NHS Integrated Care Board (ICB) Big Lottery - Reaching Communities Henry Smith Community Foundation Kellet Fund UK Online IT Training Masonic James Knott
## **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.
## **Key Management Personnel**
The key management personnel are the non-executive directors (Trustees) of the organisation; they are responsible for the day-to-day management of the charity's activities:
Chief Officer Deputy Chief Officer Services Development Officer
Grahame Cassidy Susan Wicks Stephanie Kerrigan
**4**
**Age Concern Tyneside South**
**Report of the Trustees** _**(Continued)**_ **For the year ended 31 August 2023**
## **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.
## **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.
5
**Age Concern Tyneside South**
## **Report of the Trustees** _**(Continued)**_ **For the year ended 31 August 2023**
## **Achievements and performance**
## **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 post-pandemic, but remains a key objective.
- We retained our Local Authority contracts for FY 2022-2024. We have continued to successfully deliver our services as funded by charitable trusts.
- We increased our Integrated Care Board Contracts in FY 2022-24 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 persons needs by focusing on person-centred activities and involving older people in the design of our services.
## **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 volunteer increases too.
- 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.
## **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 contact to help5000+older people with queries or casework in benefits, housing care and local services, including additional awards of benefits, grants and entitlements totalling £5.8 million for local people spent locally often within the South Tyneside economy.
- We provided 3000+ social opportunities during the period through our community-based provision all in an inclusive way. These services offer a variety of activities that tackle social isolation and loneliness to improve the wellbeing of the service users. We have built back to pre-pandemic levels.
- Our exercise classes, leisure and learning activity groups were attended by 12691 people , supporting attendees to remain physically active to improve their health long term.
- We provided advocacy support hours of 252 during the year.
- Our Integrated Service and additional Winter Pressures increased to provide 44383 contacts to help 12305 people. We provided 2982 falls prevention home assessments and installed 4981 aids and adaptations as well as removing 297 hazards in homes of older people in the borough. We also supported 6019 people upon discharge from hospital, completing 3403 activity visits to specifically prevent an admission/re-admission to hospital.
- 290 volunteers supported our organisation providing 11000+ added value hours, the equivalent of 6.5 full time members of staff @ 35 hours per week.
- We delivered 600+ Christmas hampers which was funded by the Barbour Foundation and added to by other donations e.g. (, EE, Sky …).
**6**
**Age Concern Tyneside South**
## **Report of the Trustees** _**(Continued)**_ **For the year ended 31 August 2023**
## **Involving influencing and promoting social inclusion:**
- We continue to work with wider stakeholders including the ICB , Local Authority, Public Health and key partners in the Voluntary and Community sector.
- We provide a consultation platform utilised by the Local Government and ICB 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 too
- 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 persons ADHD
- We have provided free space to a volunteer START group to help them meet with recovering alcoholics.
## **Financial review**
A glance at the Statement of Financial Activities indicates an annual income of £1,918,307 (2022:£1,565,762) has been generated during the period; this is predominantly due to an increase in the income from Charitable Activities of £344,366 (now £1,429,386) and includes over £204,000 (2021:£175,000) income from paid for services. The Statement of Financial Activities shows an overall surplus of £87,826 (2022: £300,810).
The organisation is continuing to establish itself in its seventh year as a new charity within the Borough of South Tyneside. Taking into account the challenges faced by all new charities accessing funding streams, the turnover continues to maintain a steady increase, resulting in the organisation having had a good year.
The contracts with Statutory Partners have been increased and this can be demonstrated within the accounts by the increase in turnover of £352,545 and the increase in the average headcount to 80, i.e. an additional 17, to undertake this work which then resulted in the surplus of £87,826.
A continuing cost review with a programme of achievable reduction is now in place for the financial year 2023-24 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.
## **Plans for future periods**
## **Our strategic aims:**
## **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.
**7**
## **Age Concern Tyneside South**
## **Report of the Trustees** _**(Continued)**_ **For the year ended 31 August 2023**
## **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.
## **2. 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 taylored to the needs and circumstances of individuals.
- Develop partnerships with organisations who share our vision and values.
- Expand dementia provision.
## **3. 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.
## **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 25 June 2024 and signed on behalf of the board of trustees by:
I C Ward Chair
**8**
## **Age Concern Tyneside South**
## **Independent Auditors’ Report to the members of Age Concern Tyneside South For the year ended 31 August 2023**
## **Opinion**
We have audited the financial statements of Age Concern Tyneside South (the ‘charitable company’) for the year ended 31 August 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, 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 Financial Reporting Standard 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 charitable company’s affairs as at 31 August 2023, 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; and
- 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 charitable company 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 group’s or parent charitable company’s ability to continue as a going concern for a period of at least twelve 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.
**9**
**Age Concern Tyneside South**
## **Independent Auditors’ Report to the members of Age Concern Tyneside South** _**(Continued)**_ **For the year ended 31 August 2023**
## **Other information**
The trustees are responsible for the other information. The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. 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.
## **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 (incorporating the directors’ report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the directors’ report has been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ 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 directors’ 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.
**10**
## **Age Concern Tyneside South**
## **Independent Auditors’ Report to the members of Age Concern Tyneside South** _**(Continued)**_ **For the year ended 31 August 2023**
## **Responsibilities of trustees**
As explained more fully in the trustees’ responsibilities statement the trustees (who are also the directors of the charitable company 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 charitable company’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 charitable company 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.
We obtained an understanding of the legal and regulatory framework applicable to both the charitable company itself and the industry 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 directors and other management. The most significant were identified as the Charities Act 2011, the Companies Act 2006, UK GAAP (FRS102) and relevant tax legislation. 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 enquires of trustees and management as to where they consider there to be a 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;
- reviewing the minutes of meetings of those charged with governance;
- assessing the risk of management override including identifying and testing journal entries;
- confirmation received directly from the banks to verify the balance at 31 August 2023.
**11**
## **Age Concern Tyneside South**
## **Independent Auditors’ Report to the members of Age Concern Tyneside South** _**(Continued)**_ **For the year ended 31 August 2023**
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 for the audit of the financial statements is located on the Financial Reporting Council’s website at: 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 charitable company’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 charitable company’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 charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
**Craig Henderson (Senior Statutory Auditor) For and on behalf of Haines Watts Newcastle Limited Statutory Auditors & Chartered Accountants**
26 June 2024
17 Queens Lane Newcastle upon Tyne NE1 1RN
**12**
## **Age Concern Tyneside South**
## **Statement of Financial Activities (Incorporating the Income and Expenditure Account) For the year ended 31 August 2023**
|||**Unrestricted**|**Restricted**|**Total**|**Total**|
|---|---|---|---|---|---|
|||**Funds**|**Funds**|**2023**|**2022**|
||||||_As restated_|
||**Notes**|**£**||**£**|**£**|
|**Income from:**||||||
|Donations, grants & legacies|4|354,656|117,713|472,369|440,332|
|Charitable activities|5,6|1,429,386|-|1,429,386|1,085,020|
|Trading activities|7|13,525|-|13,525|23,178|
|Investment income|8|1,721|-|1,721|280|
|Other Income|9|1,306|-|1,306|16,952|
|||_______|_______|_______|_______|
|**Total income**||1,800,594|117,713|1,918,307|1,565,762|
|||_______|_______|_______|_______|
|**Expenditure on:**||||||
|Charitable activities|10|1,551,690|278,791|1,830,481|1,263,318|
|Costs of raising funds||-|-|-|1,634|
|||_______|_______|_______|_______|
|**Total expenditure**||1,551,690|278,791|1,830,481|1,264,952|
|||_______|_______|_______|_______|
|**Net movement before transfers**||248,904|( 161,078 )|87,826|300,810|
|Transfers between funds|20|( 157,616 )|157,616|-|-|
|||_______|_______|_______|_______|
|**Net income/expenditure**||91,288|( 3,462 )|87,826|300,810|
|**Reconciliation of funds**||||||
|Total funds brought forward||788,801|58,000|846,801|545,991|
|||_______|_______|_______|_______|
|**Total funds carried forward**||880,089|54,538|934,627|846,801|
|||_______|_______|_______|_______|
The results for the year derive from continuing activities and there are no gains or losses other than those shown above.
**13**
**Age Concern Tyneside South**
## **Balance Sheet**
## **As at 31 August 2023**
||||**2023**||**2022**|
|---|---|---|---|---|---|
||||||_As restated_|
||**Notes**|**£**|**£**|**£**|**£**|
|**Fixed assets**||||||
|Tangible assets|15||573,245||562,612|
|Investments|||2||2|
||||_______||_______|
||||573,247||562,615|
|**Current assets**||||||
|Debtors|16|346,051||149,123||
|Cash at bank and in hand||569,543||799,296||
|||_______||_______||
|||915,594||948,419||
|**Liabilities**||||||
|Creditors: amounts falling due||||||
|within one year|17|( 410,662 )||( 513,245 )||
|||_______||_______||
|**Net current assets**|||504,932||435,174|
||||_______||_______|
|**Total assets less current liabilities**|||1,078,179||997,789|
|Creditors: falling due after more||||||
|than one year|19||( 143,552 )||( 150,988 )|
||||_______||_______|
|**Total net assets**|||934,627||846,801|
||||_______|||
||||_______||_______|
|**The funds of the charity**||||||
|Restricted funds|||54,538||58,000|
|Unrestricted funds|||880,089||788,801|
||||_______||_______|
||20||934,627||846,801|
||||_______||_______|
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees on 25 June 2024 and were signed on its behalf by:
I C Ward Chair
the notes on pages 16 to 28 form part of these financial statements.
**14**
## **Age Concern Tyneside South**
## **Statement of Cash Flows**
## **For the year ended 31 August 2023**
|||**2023**|
**2022**|
|---|---|---|---|
||**Notes**|**£**|
**£**|
|**Cash flows from operating activities:**||||
|Cash generated from operations|23|( 197,205 )|
472,092|
|Interest Paid||( 1,567 )|
-|
|||_______|_______|
|**_Net cash provided by operating activities_**||( 198,772 )|
472,092|
|||_______|_______|
|**Cash flows from investing activities:**||||
|Purchase of tangible fixed assets||( 29,600 )|( 17,572 )|
|Interest received||( 1,381 )|
280|
|||_______|_______|
|**_Net cash used in investing activities_**||( 30,981 )|( 17,292 )|
|||_______|_______|
|**Cash flows from financing activities:**||||
|Repayment of borrowings||-|( 16,852 )|
|Proceeds from new borrowings||-|
-|
|||_______|_______|
|**_Net cash provided by / (used in) financing activities_**||-|( 16,852 )|
|||_______|_______|
|**Change in cash and cash equivalents in the**|**year**|( 229,753 )|437,948|
|Cash and cash equivalents at the beginning of the year||799,296|
361,348|
|||_______|_______|
|**Cash and cash equivalents at the end of the**|**year**|569,543|
799,296|
|||_______|_______|
|**Cash and cash equivalents consist of:**||||
|Cash at bank and in hand||569,543|
799,296|
|||_______|_______|
**15**
**Age Concern Tyneside South**
## **Notes to the financial statements for the year ended 31 August 2023**
## **1. Accounting policies**
Age Concern Tyneside South is a is a private company limited by guarantee registered in England and Wales and a registered charity in England and Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is 29 Beach Road, South Shields, NE33 2QU, England.
## **1.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.
Age Concern Tyneside South meets the definition of a public benefit entity under FRS 102. The financial statements are prepared under the historical cost convention or transaction value unless otherwise stated in the relevant accounting policy note(s). The financial statements are prepared in Sterling which is the functional currency of the charity and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
## **1.2 Going concern**
The financial statements have been prepared on a going concern basis. The trustees have reviewed and considered relevant information, including the annual budgets in making their assessment. Based on these assessments, the increased level of demand for the services and the additional funding available the trustees have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.
## **1.3 Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds can only be used for particular restricted purposes specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
**16**
**Age Concern Tyneside South**
## **Notes to the financial statements** _**(Continued)**_ **for the year ended 31 August 2023**
## **1.4 Income**
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.
Income from charitable activities includes income received under contract or where entitlement to grant funding is subject to specific performance conditions and is recognised as earned. Grant income included in this category provides funding to support performance activities and is recognised where there is entitlement, certainty of receipt and the amount can be measured with reasonable certainty. Income received to deliver services over a specific period covering more than one financial year is accounted for over the specific period; related expenditure is accounted when incurred.
For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing.
Fixed asset gifts in kind are recognised when receivable and are included at fair value. They are not deferred over the life of the asset.
Interest receivable 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 bank.
## **1.5 Expenditure and irrecoverable VAT**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is possible that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Irrecoverable VAT is charged against the cost against the expenditure was incurred.
## **1.6 Allocation and apportionment of costs**
Support costs are those functions which assist the work of the charity but do not directly undertake charitable activities. Support costs include office costs, finance, personnel, payroll and governance costs which support the charity’s programmes and activities.
## **1.7 Tangible fixed assets**
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% straight line Freehold property - 15% reducing balance Motor Vehicles - 20% straight line
Fixed assets costing less than £1,000 are not capitalised.
**17**
**Age Concern Tyneside South**
## **Notes to the financial statements** _**(Continued)**_ **for the year ended 31 August 2023**
## **1.8 Impairment of fixed assets**
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
## **1.9 Debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **1.10 Cash at bank and in hand**
Cash at bank and cash in hand includes cash and short term highly liquid investments which are instantly accessible from the opening of the deposit or similar account.
## **1.11 Creditors and provisions**
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any discounts due.
## **1.12 Financial instruments**
The charitable company 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.
## **1.13 Pensions**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
## **2. Judgements in applying accounting policies and key sources of estimation uncertainty**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
The trustees consider that there are no significant estimates or judgements in the preparation of the financial statements.
**18**
**Age Concern Tyneside South**
## **Notes to the financial statements** _**(Continued)**_ **for the year ended 31 August 2023**
## **3. Statement of Financial Activities for the prior year as restated**
|**Unrestricted Restricted**
**Total**
**funds**
**funds**
**2022**
**Notes**
**£**
**£**
**£**
**Income from:**
Donations, grants & legacies
4, 5
95,610
327,872
440,332
Charitable activities
6
1,085,020
-
1,085,020
Other trading activities
7
23,178
-
23,178
Investment income
8
280
-
280
Other Income
9
16,952
-
16,952
_______
_______
_______
**Total income**
1,237,890
327,872
1,565,762
_______
_______
_______
**Expenditure on:**
Costs of trading activities
1,634
-
1,634
Charitable activities
10
988,446
274,872
1,263,318
_______
_______
_______
**Total expenditure**
990,080
274,872
1,264,952
_______
_______
_______
**Net income and net movement in funds**
247,810
53,000
300,810
**Reconciliation of funds**
Total funds brought forward
540,991
5,000
545,991
_______
_______
_______
**Total funds carried forward**
788,801
58,000
846,801
|**Total**
**2021**
**£**
394,068
550,705
10,663
88
20,169
_______
975,693
_______
1,130
865,938
_______
867,068
_______
108,625
437,366
_______
545,991
|
|---|---|
**19**
## **Age Concern Tyneside South**
## **Notes to the financial statements** _**(Continued)**_ **for the year ended 31 August 2023**
|**4.**
**Donations**
Donations
Legacies
Grants
**5. Grants**
Community Lottery
Community Foundation Tyne and Wear Northumberland
Henry Smith
DWP Kickstart
South Tyneside MBC
Energy Redress
Masonic Charitable
Vision and Hearing
John Knott
Suez Trust
National Saving Trust
Community Fund- Know your Neighbourhood
Energy Saving Trust
Macmillan Cancer Trust
Hospitality and Hope
Community Foundation
DI Council
Other > £5000
**6. Charitable Activities**
Integrated Services
**7.**
**Other trading activities**
Fundraising income
Rental income and room hire
Reception income
**8.**
**Investment Income**
Bank interest
|**2023**
**£**
46,039
61,631
364,699
_______
472,369
_______
78,000
-
29,950
-
-
-
20,214
-
-
22,000
9,702
21,850
23,565
107,932
18,168
12,460
14,500
6,358
_______
364,699
_______
1,190,002
_______
**2023**
**£**
-
13,525
-
_______
13,525
_______
1,721
|
|**2022**
**£**
54,585
-
368,897
_______
423,482
_______
99,614
70,106
59,950
33,685
31,145
25,975
19,747
10,795
8,000
-
-
-
-
-
-
-
-
-
_______
368,897
_______
550,705
_______
**2022**
**£**
130
20,473
2,575
_______
23,178
_______
280
|
|---|---|---|---|
**20**
**Age Concern Tyneside South**
## **Notes to the financial statements** _**(Continued)**_ **for the year ended 31 August 2023**
## **9. Other Income**
Other income
1,306 16,952
_______ _______
## **10. Charitable Activities expenditure**
|**Direct**
**Costs**
Direct costs
74,338
Advertising
-
Premises costs
20,120
Office costs
85,834
Travel Costs
28,766
Motor running costs
35,995
Other costs
16,136
Bank charges
22,777
Staff costs
1,290,742
Legal and professional costs
14,244
Depreciation
-
Governance
-
_______
1,588,952
|**Support**
**2023**
**2022**
**Costs**
**Total**
**Total**
**£**
**£**
-
74,338
22,418
-
-
30
5,413
25,533
35,678
-
85,834
77,289
1,568
30,334
24,831
28
36,023
19,243
9,912
26,048
12,792
-
22,777
3,705
190,076 1,480,818 1,030,262
7,062
21,306
18,442
18,970
18,970
18,628
8,500
8,500
-
_______ _______ _______
241,529 1,830,481 1,263,318
|
|---|---|
## **11. Auditors remuneration**
Audit fee
## **12. Net income/(expenditure)**
Depreciation – owned assets
|**2023**
**£**
8,500
_______
**2023**
**£**
18,970
|**2022**
**£**
4,500
|
|---|---|
||_______
**2022**
**£**
18,628
|
**21**
## **Age Concern Tyneside South**
## **Notes to the financial statements** _**(Continued)**_
## **for the year ended 31 August**
|**13.**|**Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel**|**Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel**|**Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel**|
|---|---|---|---|
|||**2023**|
**2022**|
|||**£**|
**£**|
||Wages and salaries|1,383,244|
953,554|
||Social security costs|84,131|
58,943|
||Other pension costs|13,443|
7,794|
|||_______|_______|
|||1,480,818|1,020,294|
|||_______|_______|
There was one employee who received total employee benefits (excluding employer pension costs) of more than £60,000 (2023 – one).
The charity trustees were not paid or received any other benefits from employment in the year (2023 - £nil) One trustee was reimbursed expenses during the year of £0 (2023 - nil). No charity trustee received payment for professional or other services supplied to the charity (2023 - £nil).
The key management personnel of the charity comprise the trustees, the Chief Officer, Deputy Chief Officer and Services Development Officer. The total employee benefits of the key management personnel of the charity were £168,570 (2023 - £117,579).
## **14. The average monthly number of employees during the year was as follows:**
||**2023**|**2022**|
|---|---|---|
||**No.**|**No.**|
|Core Staff|80|63|
**22**
## **Age Concern Tyneside South**
## **Notes to the financial statements** _**(Continued)**_ **for the year ended 31 August 2023**
|**15.**
**Tangible fixed assets**
**Freehold Furniture/**
**Property**
**Fixtures**
**£**
**£**
**Cost**
At 1 September 2022
599,000
70,962
Additions
23,220
6,380
_______
_______
At 31 August 2023
622,220
77,342
_______
_______
**Depreciation**
At 1 September 2022
71,880
37,918
Charge for year
11,980
6,376
_______
_______
At 31 August 2023
83,860
44,294
_______
_______
**Net book value**
At 31 August 2023
538,360
33,048
_______
_______
At 31 August 2022
527,120
33,044
_______
_______
**16.**
**Debtors**
Trade debtors
Other debtors and prepayments
**17.**
**Creditors: amounts falling due within one year**
Trade creditors
Social security and other taxes
Other creditors
Deferred Income
Bank loan (secured)|**Motor**
**Vehicles**
**Total**
**£**
**£**
4,200
674,162
-
29,600
_______ _______
4,200
703,762
_______ _______
1,751
111,549
612
18,968
_______ _______
2,363
130,517
_______ _______
1,837
573,245
_______ _______
2,449
562,613
_______ _______
**2023**
**2022**
_As restated_
**£**
**£**
322,591
114,119
23,460
35,004
_______ _______
346,051
149,123
_______ _______
**2023**
**2022**
**£**
**£**
17,002
5,324
48,969
19,208
73,137
95,848
243,970
369,613
27,584
23,252
_______ _______
410,662
513,245
_______ _______|
|---|---|
**23**
**Age Concern Tyneside South**
## **Notes to the financial statements** _**(Continued)**_ **for the year ended 31 August 2023**
|**17.**
**Creditors: amounts falling due within one year****_(Continued)_**
**Deferred income**
Deferred income relates to income received for future periods.
At 1 September 2022
Amounts released to income
Additions during the year
At 31 August 2023
**18.**
**Creditors: amounts falling due after more than one year**
Bank loans
**19.**
**Loans**
An analysis of the maturity of loans is given below:
Amounts due within one year or on demand
**Amounts falling due between two and five years:**
Repayable by instalments:
Bank loans of 2-5 years by instalments
**Amounts falling due in more than five years:**
Repayable by instalments:
Bank loans more 5 years by instalments|**£**
369,613
( 369,613 )
243,970
_______
243,970
_______
**2023**
**2022**
**£**
**£**
171,136
150,988
27,584
93,010
143,552
93,010
-
57,978
|
|---|---|
**24**
**Age Concern Tyneside South**
## **Notes to the financial statements** _**(Continued)**_ **for the year ended 31 August 2023**
## **20. Statement of funds**
_For the year ended 31 August 2023_
|_For the year ended 31 August 2023_|||||
|---|---|---|---|---|
||**At**|||**At**|
||**1 September**|||**31 August**|
||**2022**|
**Income Expenditure Transfers**||
**2023**|
||**£**|
**£**
**£**|**£**|
**£**|
|**Unrestricted fund**|||||
|General fund|788,801|1,800,594 ( 1,551,690 ) ( 157,616 )||
880,089|
||_______|_______ _______|_______|_______|
|**_Total unrestricted funds_**|788,801|1,800,594 ( 1,551,690 ) ( 157,616 )||
880,089|
||_______|_______ _______|_______|_______|
|**Restricted funds**|||||
|Community Foundation T&W|16,000|
19,960 ( 11,056 )|-|
24,904|
|Community Lottery|30,000|
22,824 ( 95,592 )|42,768|
-|
|Masonic|5,000|
20,254
( 1,859 )|-|
23,395|
|James Knott|7,000|
-
( 761 )|-|
6,239|
|Henry James Foundation|-|
30,550 ( 67,252 )|36,702|
-|
|Energy saving Trust|-|
24,125 ( 26,471 )|2,346|
-|
|Well connected|-|
- ( 75,800 )|75,800|
-|
||_______|_______ _______|_______|_______|
|**_Total restricted funds_**|58,000|
117,713 ( 278,791 )|157,616|
54,538|
||_______|_______ _______|_______|_______|
|**Total funds**|846,801|1,918,307 ( 1,830,481 )|-|
934,627|
_______ _______ _______ _______ _______
**25**
**Age Concern Tyneside South**
## **Notes to the financial statements** _**(Continued)**_ **for the year ended 31 August 2023**
## **20. Statement of funds ( continued)**
## _For the year ended 31 August 2022 (as restated)_
||**At**|||**At**|
|---|---|---|---|---|
||**1 September**|||**31 August**|
||**2021**|
**Income Expenditure**|**Transfers**|
**2022**|
||**£**|
**£**
**£**|
**£**|
**£**|
|**Unrestricted fund**|||||
|General fund|540,991|1,237,890 ( 990,080 )|
-|
788,801|
||_______|_______ _______|_______|_______|
|**_Total unrestricted funds_**|540,991|1,237,890 ( 990,080 )|
-|
788,801|
||_______|_______ _______|_______|_______|
|**Restricted funds**|||||
|Community Foundation Tyne and 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 )|
-|
-|
||_______|_______ _______|_______|_______|
|**_Total restricted funds_**|5,000|
327,872 ( 274,872 )|
-|
58,000|
||_______|_______ _______|_______|_______|
|**Total funds**|545,991|1,565,762 ( 1,264,952 )|
-|
846,801|
_______ _______ _______ _______ _______
## _Prior Period Adjustment_
A prior period adjustment has been recognised in respect of income which should have been accrued into the previous financial but had not been. The impact of this adjustment is £16,850 and has increased brought forward unrestricted reserves to £788,801; increased brought forward total reserves to £846,801; increased total income for the year to £1,565,762; and, increased the surplus reported for the year to £300,810.
**26**
## **Age Concern Tyneside South**
## **Notes to the financial statements** _**(Continued)**_
## **for the year ended 31 August 2023**
## **20. Statement of funds** _**(continued)**_
## **Restricted Funds**
Community Foundation T&W – Kellet Connect 2, Community development project.
Community Lottery – Linkage Plus, Community Development project.
Masonic – Tyney Links, Community Development project.
James Knott - Premises and Facilities role, core funding.
Henry Smith Foundation – Information and Advice funding.
Energy Saving Trust – Smart Meters, Energy advice project.
Well Connected – National Lottery Digital Inclusion, partnership project.
## **21. Analysis of net assets by fund**
## _For the year ended 31 August 2023_
|_For the year ended 31 August 2023_||||
|---|---|---|---|
||**Unrestricted**|**Restricted**||
||**funds**|
**funds**|
**Total**|
||**£**|
**£**|
**£**|
|Fixed assets|573,245|
-|
573,245|
|Net current assets|450,394|
54,538|
504,932|
|Creditors: amounts falling due after more than one year|( 143,552 )|
-|( 143,552 )|
||_______|_______|_______|
||
880,087|
54,538|
934,625|
|||||
||_______|_______|_______|
|_For the year ended 31 August 2022 as restated_||||
||**Unrestricted**|**Restricted**||
||**funds**|
**funds**|
**Total**|
||**£**|
**£**|
**£**|
|Fixed assets|562,615|
-|
562,615|
|Net current assets|890,419|
58,000|
948,419|
|Creditors: amounts falling due to less than one year|( 513,245 )|
-|( 513,245 )|
|Creditors: amounts falling due after more than one year|( 150,988 )|
-|( 150,988 )|
||_______|_______|_______|
||
771,951|58,000|829,951|
||______|_______|_______|
## **22. Pensions**
## **Defined contribution**
Pension contributions payable for the year ended 31 March 2024 amounted to £0 (2022 - £0). There were no amounts outstanding at the year end (2022 – nil).
**27**
## **Age Concern Tyneside South**
## **Notes to the financial statements** _**(Continued)**_
## **for the year ended 31 August 2023**
## **23. Cash flows from operating activities**
|**Cash flows from operating activities**||||
|---|---|---|---|
|||**At 1 Sep**|**At 31 Aug**|
|||**2022**|
**2023**|
||||_As restated_|
|||**£**|
**£**|
|Net income / (expenditure)||104,676|
300,810|
|Depreciation||18,968|
18,968|
|Interest received||( 1,721 )|
( 280 )|
|Interest paid||1,567|
1|
|Increase in debtors||( 213,778 )|( 66,379 )|
|Decreased in creditors||( 106,917 )|
218,972|
|||_______|_______|
|||( 197,205 )|472,092|
|||||
|||_______|_______|
|**Analysis of changes in net debt**||||
||**At 1 Sep**|
**Cash**|**At 31 Aug**|
||**2022**|
**flows**|
**2023**|
||**£**|
**£**|
**£**|
|Long term borrowings|( 34,167 )|
( 115,632)|( 149,799 )|
|Short term borrowings|( 100,645 )|
73,201|( 27,444 )|
||_______|
_______|_______|
|Total liabilities|( 134,812 )|
( 42,431 )|( 177,243 )|
|Cash and cash equivalents|997,395|( 427,852 )|
569,543|
||_______|
_______|_______|
||862,583|( 470,283 )|
392,300|
||_______|_______|_______|
## **24. Analysis of changes in net debt**
**28**