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← PramaLife

2024-03-31-accounts

Charity Registration No. 1172716

Company Registration No. 10638675 (England and Wales)

PRAMALIFE (CHARITABLE COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT AND ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2024

PRAMALIFE (CHARITABLE COMPANY LIMITED BY GUARANTEE)

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr C Bennett
Mr N C Johnson
Revd J E Burgess
Mrs C Campbell (appointed 18 July 2023)
Revd P D Homden (appointed 23 May 2024)
Mrs N Lee (resigned 22 February 2024)
Mrs S B Mitchell (resigned 26 September 2023)
Company Secretary Miss F C Tasdelen
Charity number 1172716
Company number 10638675
Registered office Moran House
1 Holes Bay Park
Sterte Avenue West
Poole
Dorset
BH15 2AA
Independent Examiners Saffery LLP
Midland House
2 Poole Road
Bournemouth
BH2 5QY
Solicitors Lester Aldridge
Russell House
Oxford Road
Bournemouth
BH8 8EX
Bankers Barclays
Barclays House
1 Wimborne Road
Poole
BH15 2FQ

PRAMALIFE (CHARITABLE COMPANY LIMITED BY GUARANTEE)

CONTENTS

Page
Trustees report 1 - 9
Statement of trustees' responsibilities 10
Independent examiner's report 11
Statement of financial activities 12
Statement of financial position 13-14
Notes to the accounts 15-26

PRAMALIFE (CHARITABLE COMPANY LIMITED BY GUARANTEE)

TRUSTEES REPORT

FOR THE YEAR ENDED 31 MARCH 2024

The directors and trustees present their annual report and the financial statements for the year ended 31 March 2024.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity's Articles of Association, the Companies Act 2006 and 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 (FRS102) (effective January 2019).

Objectives and activities

The objects clause in the company's Articles of Association states:

PramaLife's sister charity PramaCare was founded in the 1980s to provide help and care for people in their own homes, enabling them to live independently without being forced into residential care.

On the 8th November 2017 PramaLife and PramaCare became subsidiaries of the new parent charity The Prama Foundation from where governance is exercised over the whole group. The ownership of Prama Trade was transferred from PramaLife to The Prama Foundation on 1st April 2018.

The activities of the organisation in the year towards the objectives are outlined in Achievements and Performance.

Achievements and Performance

PramaLife works with communities to deliver a range of collective and individual support services across Bournemouth, Christchurch and Poole and East Dorset for the benefit of older adults and carers. PramaLife aims to enhance the health and well-being of older adults and carers by providing support which enables:

In achieving these aims PramaLife provided the following support services in 2023/24 with a staff team of 14 and 248 volunteers.

PRAMALIFE (CHARITABLE COMPANY LIMITED BY GUARANTEE)

TRUSTEES REPORT

FOR THE YEAR ENDED 31 MARCH 2024

Achievements and Performance (Continued)

Group Activities: PramaLife has developed a network of 60 support groups which meet either weekly or every month. The Memory Lane groups for people living with dementia and their carers are led by staff, however the majority of PramaLife’s groups are led by volunteers, ensuring that we are making the best use of local skills and commitment. The groups provide two hours of activity, and in between meetings, PramaLife supports participants with various needs including bereavement and accessing other community based support. The following table compares our performance between 2022/23 and 2023/24:

Type of Group Number of Sessions Number of Sessions Number of Participants
(Cumulative Total)		 Number of Participants
(Cumulative Total)
2022/23 2023/24 2022/23 2023/24
MemoryLane: Dementia Support 712 757 7,412 8,090
Pop-in/Social 678 726 12,527 14,026
Health and Fitness 147 156 1,334 1,731
Music 58 48 1,140 810
Arts and Crafts 166 173 1,411 1,597
IT Support Surgeries 89 - 241 -
Carers Support 208 255 2,209 2,489
Other Activities e.g. information days for carers 12 7 441 368
Total 2,070 2,122 26,715 29,111

During 2023/24 PramaLife developed two new support groups specifically so that we could reach different communities of people:

A support group specifically for carers from the Armed Forces community, we have helped 20 carers through this group so far. The group is led by a carer who is also an Army veteran. PramaLife is undertaking this work with the Veterans Hub, Wyke Regis and the Royal British Legion, Broadstone Branch.

A social group for older women from the local Bengali community and people from Middle Eastern and African

communities: Beautiful Wisdom. PramaLife has developed this group the Bengali Community group and Unity Vision.

During 2023/24 420 of the group participants responded to a survey about the impact of the group activities:

Statement Never Rarely Sometimes Often All the time
I feel I am as healthy as possible 2% 5% 27% 44% 22%
I feel generally optimistic about the
future		 3% 8% 31% 33% 25%
I have the support I need or I know
where to find it		 2% 3% 18% 33% 44%
I feel connected and know what
activities are available in my area		 2% 7% 24% 37% 30%
I feel less lonely as a result of
coming to this activity		 3% 2% 11% 33% 51%
I gained the support of others in
this group		 1% 2% 14% 38% 45%

PRAMALIFE (CHARITABLE COMPANY LIMITED BY GUARANTEE)

TRUSTEES REPORT

FOR THE YEAR ENDED 31 MARCH 2024

Achievements and Performance (continued)

PramaLife also organises:

The Oakley Friends programme , with the Leonardo Trust. This is a ten-week induction programme for carers of people recently diagnosed with memory loss, covering topics such as what is dementia and its impact, local support providers, welfare benefits, legal issues like making a will and power of attorney, organising respite care and managing incontinence. We also organise regular follow up meetings for the participants so that they can support each other with their new caring roles. In the past 12 months we have supported 122 carers on this programme.

Telephone Support Groups: These involve 3+ people involved on the same call, during 2023/24 PramaLife provided 273 groups for 961 participants (a cumulative total), for 2022/23 the figures were 290 and 1,051 respectively.

One to one support for older adults and carers through:

The FOCUS programme. This is funded through a contract we have with BCP Council. PramaLife recruits volunteers to provide one to one support to carers, either telephoning them regularly or meeting up for a walk and coffee. Some of the relationships focus on the caring role, but many do not. Carers tell us that they want to have a life which is not defined by their caring role, they want to discuss what interests them as an individual. We also recruit ex and current carers to provide mentoring support particularly for new carers or carers who are experiencing key changes in their roles, e.g. when the cared for person is moving into a care/nursing home. During 2023/24 we supported 134 carers on this programme, for 2022/23 it was 110 carers.

Dorset NHS Urgent Community Response scheme. PramaLife works with the Dorset Healthcare Trust with this scheme. It involves paramedics visiting older adults who have had for example a fall or an infection to assess whether it is safe for them to recover at home. PramaLife’s role is to contact the patients for a 10-day period to ensure that they are recovering, and to provide them with further support to enhance their health and well-being, for example helping them to manage their care packages, applying for welfare benefits, support with accessing other community services etc.

We have received positive feedback from both the patients and NHS colleagues about our role, e.g. knowing that PramaLife will be following up patients gives the paramedics reassurance that the patient can recover at home. During 2023/24 PramaLife supported 1,214 patients, for 2022/23 it was 942 patients.

Since 2021 we have been collecting feedback from patients including asking them to score out of ten (ten being the highest) the quality of support they have received from PramaLife. The following results confirm that over 95% of the 553 patients who responded, scored PramaLife eight or over out of ten.

Score Number of responses % of responses
4 1 0.2%
5 4 0.7%
6 8 1.4%
7 14 2.4%
8 80 13.8%
9 101 17.4%
10 372 64.1%
Total 580 100%

PRAMALIFE (CHARITABLE COMPANY LIMITED BY GUARANTEE)

TRUSTEES REPORT

FOR THE YEAR ENDED 31 MARCH 2024

Achievements and Performance (continued)

East Dorset Volunteer Car Drivers scheme. PramaLife organise volunteer car drivers to help older adults access essential appointments with their GP and social activities in East Dorset. During 2023/24 the drivers provided 828 journeys, for 2022/23 it was 570 journeys.

East Dorst Good Neighbours. Local volunteers help older adults with tasks around the house, for example, hanging curtains, re tuning the television or taking items to the municipal dump. During 2023/24 26 older adults were helped in their homes.

Support for people who hoard: PramaLife has been supporting people who hoard to manage their belongings, waste and accommodation. Hoarding can occur for a variety of reasons, and can lead to people having an excessive amount of items and/or waste in their homes. This can affect their health and well-being, for example, it becomes difficult to heat their homes and it can be dangerous for visitors like care workers. During 2023/24 PramaLife supported 86 people with their hoarding.

Dementia Awareness: PramaLife delivers dementia awareness sessions to local statutory, private and voluntary sector colleagues, so that they can adapt the support services they provide. During 2023/24 PramaLife delivered 25 sessions for 383 participants.

Access Wellbeing Poole Hub: PramaLife developed the Hub with the NHS, Help & Care the Community Action Network and Legal & General. The Hub is based in the Dolphin Centre, and Legal & General very generously renovated the space for us.

PramaLife’s role is to manage the space and co-ordinate the various partner agencies who use it, to enhance the mental well-being of the local community. Partner agencies include Help & Care who employ Wellbeing Co-ordinator’s specifically for the Hub, Dorset MIND, the NHS Community Mental Health Team, We Are With You (the local addiction service), STARS (sexual abuse), Dorset Mental Health Forum, Steps to Well-being, BCP Council Housing and Citizens Advice . The Hub opened its doors on 29 January 2024 and has been providing support to over 500 visitors on a range of topics including:

PramaLife also continued with the following projects:

PRAMALIFE (CHARITABLE COMPANY LIMITED BY GUARANTEE)

TRUSTEES REPORT

FOR THE YEAR ENDED 31 MARCH 2024

Aims for 2024/25

The key aim each year for PramaLife is how can we sustain and develop our existing support services. It is essential for example that we continue to provide all the support we can to people living with dementia and carers. It is a challenge raising all the funds PramaLife needs as many other worthy charities are also seeking funds.

During 2024/25 PramaLife will also:

PramaLife’s Funders

We would not be able to achieve all of this without the support of our much-valued funders, including for 20232/24:

We would also like to thank all those individuals who made a donation direct to PramaLife. Your support is very much appreciated.

We would also like to acknowledge the considerable in-kind support we receive from the Municipal and Owen Carter Almshouse and Immanuel Church, Bournemouth.

PRAMALIFE (CHARITABLE COMPANY LIMITED BY GUARANTEE)

TRUSTEES REPORT

FOR THE YEAR ENDED 31 MARCH 2024

Financial Review

The total income for the charity was £372,647 (2022/23: £335,506) and the net deficit for the period was £59,781 (2022/23: surplus of £2,635)

Results

The results for the year, the state of the charity's affairs and transfers between the restricted and unrestricted funds are shown in the attached financial statements.

Reserves policy

The charity's total reserves amount to £116,218 (2022/23: £175,999) of which £3,552 (2022/23: £4,863) relate to restricted funds and £112,666 (2022/23: £171,136) relate to unrestricted funds.

The trustees monitor the level of reserves on a regular basis throughout the year and set a target level appropriate to the charity's current position and future plans through the annual budgeting process and to ensure reserves provide for the long term need for working capital and to provide for short term fluctuations in income from donations and grants. Following a full review of the reserves policy during 2020/21 the trustees consider it prudent to maintain a minimum reserve of £90,000 in this respect.

The Reserves Policy was further reviewed by the trustees on 17 July 2024 where it was agreed that the minimum level of reserves should remain at £90,000.

In March 2023 PramaLife received grant income from funders for projects to be delivered during the 2024/25 financial year. As a result the unrestricted funds held at 31 March 2024 of £112,666 (2022/23: £171,136) is higher than its reserves policy level. These excess reserves will be used during 2024/25 to deliver agreed projects.

Fixed assets

Full details of movements in tangible fixed assets are set out in note 13 to the financial statements.

Sources of funding

As detailed in the section above concerning our Achievements and Performance, PramaLife is funded from a variety of sources, including:

Expenditure

Expenditure in respect of PramaLife's community activities encompasses the management and delivery of activities, including salaries and specific costs associated with the activity e.g. materials for our Memory Lane groups. PramaLife contributes funds to the Foundation in return for administrative, financial management and governance support.

PRAMALIFE (CHARITABLE COMPANY LIMITED BY GUARANTEE)

TRUSTEES REPORT

FOR THE YEAR ENDED 31 MARCH 2024

Remuneration Policy

None of the trustees receives any remuneration. The remuneration of the senior staff is set by the trustees having regard to local market rates, experience needed and the degree of responsibility held.

Employee Involvement

The parent charity has mechanisms in place to ensure that the staff team are consulted with concerning issues which affect their employment. PramaLife continues to review how it consults and engages with the staff team to ensure that their views inform the development of the charity.

The charity seeks to give full and fair consideration to all applications for employment made to the charity by people living with disability and make efforts in respect of the continuing employment and training of employees who may become disabled while employed by the company. The charity seeks to introduce, maintain and develop arrangements involving employees, providing systematic relevant information, undertaking regular employee consultation and providing necessary training and career development to all staff members.

Structure, Governance and Management

The organisation is a charitable company limited by guarantee, incorporated on 24th February 2017, and registered as a charity with the Charity Commission on 24th April 2017. The company was formed under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. Under the terms of the Memorandum of Association each member of the company guarantees to contribute £10 towards the assets of the company in the event of its being wound up while he/she is a member, and towards the costs, charges and expenses of winding up.

None of the trustees have any beneficial interest in the company.

On 8th November 2017 the trustees resigned as members of the organisation and appointed The Prama Foundation as sole corporate member. The trustees of The Prama Foundation have power to appoint and remove the board of PramaLife Limited.

The trustees, who are also directors for the purpose of company law, and who served during the period were: Mr C Bennett

Mr N C Johnson

Revd J E Burgess Mrs C Campbell (appointed 18 July 2023) Revd P D Homden (appointed 23 May 2024) Mrs N Lee (resigned 22 February 2024) Mrs S B Mitchell (resigned 26 September 2023)

In addition, in September 2023, Peter Adams was co-opted as a representative of the carers PramaLife supports.

The following trustees are also trustees of The Prama Foundation. Mr C Bennett

Mr N C Johnson Mrs C Campbell (a trustee of the Prama Foundation prior to accepting PramaLife trusteeship) Mrs N Lee (continues as a trustee of the Prama Foundation following resignation from trusteeship of PramaLIfe)

PRAMALIFE (CHARITABLE COMPANY LIMITED BY GUARANTEE)

TRUSTEES REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Structure, Governance and Management (continued)

The Prama Foundation has a board of directors which receives recommendations and information from three sub-committees focussing on:

The chair of each committee is held by a director of Prama Foundation and these make recommendations to the full Board of the Prama Foundation. The directors, who are also charity trustees, establish policies that are then implemented by the senior leadership team who are responsible for the employment of staff that carry out the objectives of the company.

New director/trustees are appointed following a review of skills by a nominations sub-committee. Each trustee elected meets with the senior management team and then observes a board or sub-committee meeting before final decisions are taken on appointment. The nominations sub-committee report to the board. Persons considered to be able to offer particular expertise to the charity are given a Trustee Handbook and Strategic Plan and meet with the Chair to receive a full explanation of the purposes, ethos and practices of PramaCare before being invited to serve on the board.

For the 2023/24 financial year, day to day management of the charity was delegated to the Senior Management Team.

Risk assessment

A risk register is maintained to focus on specific areas of PramaLife’s activities and is discussed at each trustee meeting. During 2023/24 the risk management process was strengthened to include a Board Assurance

Framework for the Boards of Trustees enabling them to focus on the strategic risks which could prevent the charity from achieving its objectives. The principal risks of the charity relate to:

a) Failure to raise sufficient funding:

PramaLife has achieved a mix of income which will be important to sustain and develop. Currently our main sources of income are the contributions from the Prama Foundation including surpluses from the Prama charity shops, charitable trusts and donations. We will continue to apply to charitable trusts for their support, but we will be looking to diversify our income through community fundraising and by promoting ethically our need for legacies.

b) Failure to respond to safeguarding issues:

The health, safety and dignity of the people we support, and our staff and volunteers is paramount. We have implemented robust systems to identify risks to the safety of individuals and we provide support and training to our staff and volunteers in order that they can effectively manage any incidents which may occur.

c) Failure to recruit skilled volunteers:

We are fortunate to have the support of 236 skilled volunteers. However, in order to further sustain and develop our services we need to recruit more volunteers.

d) Failure to adapt to changing need and aspirations amongst the older adults and carers PramaLife works with: Needs can change depending on new generations of older adults and our response must also be based on developing practice from elsewhere in the UK.

The HR Lead is the designated Health and Safety officer.

PRAMALIFE (CHARITABLE COMPANY LIMITED BY GUARANTEE)

TRUSTEES REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Structure, Governance and Management (continued)

Public Benefit

The trustees have given due regard to public benefit when planning the charity's activities, in accordance with sections G2 and G3 of the Charity Commission's General Guidance on Public Benefit (January 2010).

The paragraphs in this report set out our activities, achievements, and performance during the year, which are directly related to the objectives and purposes for which the charity exists. The charity achieves its principal objectives and purposes through services to any members of the public in the local community who have needs arising from age, disability or social isolation.

These benefits are directly related to the aims of the charity and are fully compliant with Principles 1 and 2 of the Charity Commission Principles on Public Benefit.

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

On behalf of the board of trustees

Mr Colin Bennett, Chair

10th December 2024

PRAMALIFE (CHARITABLE COMPANY LIMITED BY GUARANTEE)

STATEMENT OF TRUSTEES RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2024

The trustees, who are also directors of PramaLife Limited (Charitable Company Limited by Guarantee) for the purpose of company law, are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources including the income and expenditure, of the charitable company for that period.

In preparing these accounts, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of accounts may differ from legislation in other jurisdictions.

PRAMALIFE (CHARITABLE COMPANY LIMITED BY GUARANTEE)

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF PRAMALIFE LIMITED (CHARITABLE COMPANY LIMITED BY GUARANTEE)

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.

Respective responsibilities of trustees and examiner

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Basis of independent examiner’s report

My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Signed:

Casidhe Baleri

For and on behalf of Saffery LLP Midland House 2 Poole Road Bournemouth BH2 5QY

Date: 12 December 2024

PRAMALIFE (CHARITABLE COMPANY LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted Restricted Total Total
Funds Funds 2024 2023
Notes General
Income and Endowments from: £ £ £ £
Donations and legacies 3 296,331 46,249 342,580 313,224
Charitable activities 4 30,067 - 30,067 22,282
-------------- -------------- -------------- --------------
Total income and endowments 326,398 46,249 372,647 335,506
-------------- -------------- -------------- --------------
Expenditure on:
Raising funds 5 15,415 - 15,415 10,371
Charitable activities 6 379,418 37,595 417,013 322,500
-------------- -------------- -------------- --------------
Total expenditure 394,833 37,595 432,428 332,871
-------------- -------------- -------------- --------------
Net (expenditure) / income from
activities (68,435) 8,654 (59,781) 2,635
-------------- -------------- -------------- --------------
Net (expenditure) / income before
transfers (68,435) 8,654 (59,781) 2,635
Transfers between funds 9,965 (9,965) - -
-------------- -------------- -------------- --------------
Net movement in funds (58,470) (1,311) (59,781) 2,635
Fund balances at 1 April 171,136 4,863 175,999 173,364
-------------- -------------- -------------- --------------
Fund balances at 31 March 112,666 3,552 116,218 175,999
-------------- -------------- -------------- --------------

PRAMALIFE (CHARITABLE COMPANY LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2024

2024 2023
Notes £ £ £ £
Fixed Assets
Property, plant and equipment 13 5,627 6,806
-------------- --------------
5,627 6,806
Current assets
Trade and other receivables 14 66,989 32,370
Cash at bank and in hand 166,841 143,202
-------------- --------------
233,830 175,572
Liabilities
Current liabilities 15 (123,239) (6,379)
-------------- --------------
Net current assets 110,591 169,193
-------------- --------------
Total assets less current liabilities 116,218 175,999
-------------- --------------
Net Assets 116,218 175,999
-------------- --------------
Income funds 18
Restricted funds 3,552 4,863
Unrestricted funds 112,666 171,136
-------------- --------------
116,218 175,999
-------------- --------------

PRAMALIFE (CHARITABLE COMPANY LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 MARCH 2024

The company is entitled to exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024.

No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these accounts under the requirements of the Companies Act 2006.

The trustees' acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 of the Act and for preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

The accounts were approved by the trustees on 10th December 2024

Mr Colin Bennett, Chair

Company Registration No. 10638675

PRAMALIFE (CHARITABLE COMPANY LIMITED BY GUARANTEE)

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2024

1 Accounting policies

Company information

PramaLife Limited is a charitable company limited by guarantee, incorporated in England and Wales.

The registered office is Moran House, 1 Holes Bay Park, Sterte Avenue West, Poole, Dorset BH15 2AA.

1.1 Accounting convention

These accounts have been prepared in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102'), 'Accounting and Reporting by Charities' the Statement of Recommended Practice for charities applying FRS 102, the Companies Act 2006 and UK Generally Accepted Accounting Practice as it applies from 1 January 2019. The charity is a public benefit entity as defined by FRS 102.

The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The accounts have been prepared on the historical cost convention, modified to include the revaluation of certain financial instruments at fair value. The principal accounting policies adopted are set out below.

PramaLife meets the definition of a qualifying entity under FRS 102 and has therefore taken advantage of the disclosure exemptions available to it in accordance with paragraph 1.12 of FRS 102. Exemptions have been taken in relation to presentation of a cash flow statement.

1.2 Going concern

At the time of approving the accounts, the trustees having considered the impact of all risks and have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. There are no material uncertainties about the charity's ability to continue and thus the trustees continue to adopt the going concern basis of accounting in preparing the accounts.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the accounts.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the accounts.

1.4 Incoming resources

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that the income will be received.

PRAMALIFE (CHARITABLE COMPANY LIMITED BY GUARANTEE)

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Accounting policies

(Continued)

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known the legacy is treated as a contingent asset.

Gifts in kind and donated facilities are recognised as income, if a value can be reliably measured, at the value to the charity when received. In accordance with the Charities SORP (FRS 102), no amounts are included in the financial statements for services donated by volunteers, including professional services provided directly by volunteers.

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

1.5 Outgoing resources

Expenditure is recognised on an accruals basis. Expenditure has been allocated according to the Statement of Recommended Practice 'Accounting and Reporting by Charities'.

Resources expended attributable to each of raising of funds and charitable activities are allocated to cost categories for each. Where expenses are attributable to more than one of these, the cost category is split on the basis of estimates by the charity's management. Wages are apportioned based on employees' roles and time spent.

1.6 Property, plant and equipment

Property, plant and equipment are initially measured at cost, and subsequently measured at cost, net of depreciation and any impairment losses. Items are capitalised when their individual value is greater than £500.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements Over 10 years straight line, or the remaining term of the lease Café and bar equipment Over 5 years straight line Theatre equipment Over 5 years straight line Office equipment Over 3 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

PRAMALIFE (CHARITABLE COMPANY LIMITED BY GUARANTEE)

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Accounting policies

(Continued)

1.7 Impairment of non-current assets

At each reporting end date the charity reviews the carrying amounts of its tangible and intangible 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).

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's Statement of Financial Position when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through income and expenditure, are assessed for indicators of impairment at each reporting end date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in net income/(expenditure) for the year.

PRAMALIFE (CHARITABLE COMPANY LIMITED BY GUARANTEE)

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including trade and other payables and bank loans are recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Concessionary loans are initially recognised at the amount received. Subsequently the loans are adjusted for any applicable repayments or interest.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12 Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the asset's fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to net income/(expenditure) for the year so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease.

2 Critical accounting estimates and judgements

In the application of the charity's accounting policies the trustees are required to make judgements, estimates and assumptions about the carrying value 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. On 23 June 2021, the trustees of the Prama Foundation considered the extant approach to capitalising assets. It was decided that the existing policy of a limit of £250 below which items are not capitalised should be revised to "Items are capitalised when their individual value is greater than £500". This change has been applied to assets purchased during and after the 2020/21 financial year.

PRAMALIFE (CHARITABLE COMPANY LIMITED BY GUARANTEE)

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

3 Donations and legacies
Unrestricted Restricted 2024 2023
Funds Funds Total Total
£ £ £ £
Donations and gifts 248,787 46,249 295,036 301,488
Legacies 4,644 - 4,644 -
Grant from parent charity 42,900 - 42,900 11,736
-------------- -------------- -------------- --------------
296,331 46,249 342,580 313,224
-------------- -------------- -------------- --------------
Year ended 31 March 2023 296,947 16,277
-------------- --------------
4 Charitable activities
2024 2023
£ £
Community based activities:
Memory clubs and social groups 21,969 15,696
Neighbourhood Support Schemes 8,098 6,586
-------------- --------------
30,067 22,282
-------------- --------------
5 Raising funds
2024 2023
£ £
Fundraising and publicity
Staff costs 15,415 10,371
-------------- --------------

PRAMALIFE (CHARITABLE COMPANY LIMITED BY GUARANTEE)

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

6 Charitable activities
2024 2023
£ £
Community based activities
Memory clubs and social groups 33,395 38,569
Neighbourhood Support Schemes 8,148 5,956
Thematic projects 16,966 6,029
Donations to other organisations - 38
Staff costs 191,480 154,125
-------------- --------------
249,989 204,717
Support costs (note 7) 163,128 114,224
Governance costs (note 8) 3,896 3,559
-------------- --------------
417,013 322,500
-------------- --------------
Analysis by fund
Unrestricted funds - general 369,453 300,033
Restricted funds 47,560 22,467
-------------- --------------
417,013 322,500
-------------- --------------
7 Support costs
2024 2023
£ £
Staff costs - management and administration 137,235 96,628
Office utilities 9,240 2,400
Insurance 428 612
Computer expenses 362 1,832
Printing, stationery and office expenses 3,311 4,356
Telephone 4,278 4,638
Staff and volunteers - other costs 2,692 2,828
Miscellaneous expenses 2,399 240
Other expenses 216 239
Bank charges and interest 402 257
Depreciation 2,565 194
-------------- --------------
163,128 114,224
-------------- --------------

PRAMALIFE (CHARITABLE COMPANY LIMITED BY GUARANTEE)

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

8 Governance costs

Governance costs
2024 2023
£ £
Independent examiner's fees - current year 1,800 1,650
Independent examiner's fees - prior year (420) 246
Legal and professional - current year 2,516 763
Legal and professional - prior year - 900
-------------- --------------
3,896 3,559
-------------- --------------

9 Trustees

None of the trustees (or any persons connected with them) received any remuneration or expenses during the current or previous year.

10 Employees

Number of employees

The average weekly number of employees during the period was:

2024 2024 2023 2023
Headcount Full time Headcount Full time
equivalent equivalent
Other community activities 12 5 17 8
Management and administration 2 2 1 1
-------------- -------------- -------------- --------------
14 7 18 9
-------------- -------------- -------------- --------------

Employment costs

Employment costs
2024 2023
£ £
Wages and salaries 313,856 239,126
Social security costs 22,844 16,532
Other pension costs 7,430 5,466
-------------- --------------
344,130 261,124
-------------- --------------

The number of employees whose annual remuneration was £60,000 or more was nil (2022/23: nil).

PRAMALIFE (CHARITABLE COMPANY LIMITED BY GUARANTEE)

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

11 Net income from activities
2024 2023
£ £
Net income from activities is stated after charging:
Depreciation 2,565 194
Independent Examiner's fees 1,800 1,650
-------------- --------------

12 Taxation

The company is exempt from taxation due to its charitable status.

13 Property, Plant and Equipment Office Total
equipment
£ £
Cost at 1 April 2023 7,000 7,000
Additions 1,386 1,386
Disposals - -
-------------- --------------
Cost at 31 March 2024 8,386 8,386
-------------- --------------
Depreciation at 1 April 2023 194 194
Charged 2,565 2,565
Disposals - -
-------------- --------------
Depreciation at 31 March 2024 2,759 2,759
-------------- --------------
Net book value at 31 March 2023 6,806 6,806
-------------- --------------
Net book value at 31 March 2024 5,627 5,627
-------------- --------------
14 Trade and other receivables
2024 2023
Amounts falling due within one year: £ £
Other receivables 7,500 19,627
Prepayments and accrued income 59,489 10,740
Amounts owed by group undertakings - 2,003
-------------- --------------
66,989 32,370
-------------- --------------

PRAMALIFE (CHARITABLE COMPANY LIMITED BY GUARANTEE)

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

15 Current liabilities
2024 2023
£ £
Trade payables 2,421 1,704
Other payables 87,486 4,675
Amounts owed to group undertakings 33,332 -
-------------- --------------
123,239 6,379
-------------- --------------
17 Pension
The company operates a defined contribution scheme. 2024 2023
£ £
Contributions paid in year 7,430 5,466
-------------- --------------
18 Analysis of funds
2023/24 - Current Year Movement in funds
Balance at Income in Expenditure Transfers Balance at
1.4.2023 year in year 31.3.2024
£ £ £ £ £
General Funds
Unrestricted income fund 171,136 326,398 (394,833) 9,965 112,666
-------------- -------------- -------------- -------------- --------------
Restricted funds
Sporting memories project 2,630 - (189) - 2,441
Magic table fund 1,122 - (1,122) - -
Befriending scheme 1,111 - - - 1,111
Valentine Trust - 15,000 (12,537) (2,463) -
Wellbeing Hub - 31,249 (23,747) (7,502) -
-------------- -------------- -------------- -------------- --------------
4,863 46,249 (37,595) (9,965) 3,552
-------------- -------------- -------------- -------------- --------------
Total funds 175,999 372,647 (432,428) - 116,218
-------------- -------------- -------------- -------------- --------------

The transfers from the Valentine Trust and Wellbeing Hub restricted funds to general funds relate to an allocation t cover general fund management costs as agreed with the funders.

PRAMALIFE (CHARITABLE COMPANY LIMITED BY GUARANTEE)

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

18 Analysis of funds (Continued)

2022/23 - Prior Year Comparative Movement in funds Movement in funds
Balance at Income in Expenditure Transfers Balance at
1.4.2022 year in year 31.3.2023
£ £ £ £ £
General Funds
Unrestricted income fund 162,311 319,229 (310,404) - 171,136
-------------- -------------- -------------- -------------- --------------
Restricted funds
Sporting memories project 1,625 1,277 (272) - 2,630
Magic table fund 1,282 - (160) - 1,122
Befriending scheme 1,111 - - - 1,111
Sorted in Dorset 732 - (732) - -
PramaLife Development 755 - (755) - -
Reaching Communities 5,548 - (5,548) - -
Valentine Trust - 15,000 (15,000) - -
-------------- -------------- -------------- -------------- --------------
11,053 16,277 (22,467) - 4,863
-------------- -------------- -------------- -------------- --------------
Total funds 173,364 335,506 (332,871) - 175,999
-------------- -------------- -------------- -------------- --------------

The trustees monitor the level of reserves on a regular basis throughout the year and set a target level appropriate to the charity's current position and future plans through the annual budgeting process and to ensure reserves provide for the long term need for working capital and to provide for short term fluctuations in income from donations and grants. As a result, the trustees consider it prudent to maintain a minimum reserve of £90,000 in this respect.

Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes.

The purposes for which the restricted funds are held are as follows:

PRAMALIFE (CHARITABLE COMPANY LIMITED BY GUARANTEE)

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

18 Analysis of funds (Continued)

19 Analysis of net assets between funds

Unrestricted Designated Restricted Total
2023/24 - Current Year funds funds funds
£ £ £ £
Fund balances at 31 March 2024 are
represented by:
Fixed assets 5,627 - 5,627
Current assets 230,278 - 3,552 233,830
Creditors (amounts falling due within one year) (123,239) - - (123,239)
-------------- -------------- -------------- --------------
112,666 - 3,552 116,218
-------------- -------------- -------------- --------------
2022/23 - Prior Year Comparative
Fund balances at 31 March 2023 are
represented by:
Fixed assets 6,806 - 6,806
Current assets 170,709 - 4,863 175,572
Creditors (amounts falling due within one year) (6,379) - - (6,379)
-------------- -------------- -------------- --------------
171,136 - 4,863 175,999
-------------- -------------- -------------- --------------

20 Commitments under operating leases

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Office equipment Office equipment
2024 2023
£ £
Within one year - -
-------------- --------------
Lease payments recognised as an expense in the accounts 3,462 3,801
-------------- --------------

PRAMALIFE (CHARITABLE COMPANY LIMITED BY GUARANTEE)

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2024

21 Related parties

Control

For the period following its incorporation PramaLife was controlled ultimately by its founding members. On 8th November 2017 the founding members transferred their interest to The Prama Foundation which is now the sole member of PramaLife and whose trustees have the power to appoint and remove the board of directors.

Transactions

During the year no related party transactions occurred. Other transactions with the trustees are set out in note 9.

22 Parent company

PramaLife Limited is a wholly owned subsidiary of The Prama Foundation, a charity registered in the UK. Charity no. 1174197, Company no. 10778305.

The Prama Foundation is the ultimate parent undertaking of the largest and smallest group of undertakings for which the group accounts are presented, and has included the company in its group accounts, copies of which may be obtained from its registered office at Moran House, 1 Holes Bay Park, Sterte Avenue West, Poole, Dorset BH15 2AA.

The principal purposes of The Prama Foundation are the advancement of physical, mental and spiritual health through the provision of care, facilities, services, support and practical advice, to relieve financial hardship amongst older people and people of any age suffering from a physical or mental illness or disability.