Charity Registration number - 1172770 FAVERSHAM ASSISTANCE CENTRE CIO TRUSTEES. REPORT AND ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024 FAVERSHAM ASSISTANCE CENTRE CIO YEAR ENDED 31ST MARCH 2024 CONTENTS Page Legal and Administrative Information Trustees, Report IndeDendent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Accounts FAVERSHAM ASISTANCE CENTRE CIO Page 1 LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31ST MARCH 2024 Trustees Mrs S Wolfe Mrs S Mulford Mrs J Negus Mr G Dorkins Cllr E Thomas Mrs M D Ford Appointed Chair of Trustees 17th July 2023 Treasurer Resigned 17th July 2023 Resigned as Chair of Trustees 17th July 2023 Project Manager Ms Federica Holland Charity Number 1172770 Correspondence Address Age UK Faversham The Old Fire Station CreS￿nt Road Faversham Kent ME13 7GU Independent Examiner Dr A.M.Ashton (FCCA retired) 27 Upper Brents Faversham Kent ME13 7DP Bankers National Westminster Bank plc 13 Market Place Faversham Kent ME13 7DT CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ FAVERSHAM ASSISTANCE CENTRE CIO Page 2 TRUSTEES. REPORT FOR THE YEAR ENDED 31ST MARCH 2024 The Trustees of the Charity present their annual report and accounts of the Charity for the year ended 31st March 2024. Governing Document and Constitution The Charity is a Charitable Incorporated Organisation and is governed by a constitution adopted on the 26th April 2017. Organisation Structure The Charity is managed by a Board of Trustees which meet regularly . The Trustees of the Charity are listed on the legal and administrative page. The Board of Trustees are supported by the project manager. Objectives and Activities for Public Benefrt The Charity's objectives are to offer practical help to the elderly and disabled who are financially challenged in Faversham and the surrounding neighbourhood (including some areas close to Faversham and Sittingbourne) The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidan￿ on public benefit when reviewing the Charity's objectives. Achievements and Performance The past year continued to be a challenging one for FACE, specifically with the loss of local grant monies ft5iiowing on so soon after losing Kent County Council grant funding. Our Chairperson and Project Manager have worked incredibly hard to find new grant funding sources resulting in grant funding of £ 39,000. A full list of arants is shown on Daae 8. The donations from our clients increased during the year, as did Church donations. Fundraising increased by £2,271 due to new events initiated by our Chairperson and assisted by our Project Manager. In addition to our annual plant sale the events included - a silent auction, Xmas Bazaar, family quiz and sponsored swim (our Chairperson swimming the equivalent of the Channel in the local swimming pool). We also received other donations of £5,000 (from a local benefactor) and £4,000 from the Mayorfs fundraising. Overall income ex￿eded expenditure by £5,384 and at the year end we have exceeded our aim of maintaining 6 months of unrestricted reserves. We said farewell to our longstanding Chairperson Miranda Ford and Trustee Eddie Thomas in July 2023, We thank our workforce and volunteers for the ongoing success of FACE. Without their hard work in the homes and gardens of our clients we would not have such a successful charity, their work is very mucii appreciated. We continue to hear positive eXperIen￿S from our clients which are also greatly appreciated by the Trustees and our project manager. FAVERSHAM ASSISTANCE CENTRE CIO Page 3 TRUSTEE'S REPORT FOR THE YEAR ENDED 31ST MARCH 2024 Financial Review The accounts have been prepared on an accruals basis so as to reflect the true financial position of the Charity. The results are shown on page 5 At 31st March 2024 the bank balances totalled £49,794 which was made up of £878 in NW and £48,916 in CAF. Reserves Policy We have exceeded our target reserves of 6 months expenditure during the year. It is likely to be another challenging year financially in 2024125 but we continue to monitor our income and expenditure and although we may to need to utilise some of our unrestricted reserves, we anticipate that the reserves balance will ensure the financial viability of the Charity. The £15,000 redundancy reserve set up in 2022123 remains at this level at 31 st March 2024. This will be reviewed in 2024125. Plans for the Future The Charity will continue to search for new sources of core funding we will look for more volunteers and continue to raise our profile through attendance at fayres and other fundraising events . Risk management During the year the Trustees have reviewed all major risks which the Charity could suffer and confirm all necessary action has been taken to mitigate these risks. We thank all those who have given their time and support over the period in helping us to achieve the aims of the Charity. Signed on behalf of the Trustees on 21 st May 2024 Mrssw Ife Chair of Trustees FAVERSHAM ASSISTANCE CENTRE CIO Page 4 DEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FAVERSHAM ASSISTANCE CENTRE CIO I report to the Trustees on my examination of the accounts of the Faversham Assistance Centre CIO for ti ¥£eai rnaed 31st March 2024 which are set out on pages 5 to 9. Responsibilities and basis of report As the charity trustees of Faversham Assistance Centre you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Hci j. i repor( in respect OT m examination of Faversham Assistance Centre's accounts carried out under section 145 of the 2011 AG[ ana tn carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Independent examinerfs statemert I have completed my examination. I confirm that no material matters have come to my attention connection with the examination giving cause to believe that in any material respect. the accounting records were not kept in accordan￿ with section 130 of the Charities Act; or the accounts do not accord with those records; or the accounts did not comply with the applicable requirements concerning form and content of accounts set out in the Charities (Accounts and Reports) Requlations 2008 other tnan afji requirement that the accounts give a 'true and fair. View which is not a matter considered as part of the independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understandinq of the accounts to be reached. Dr A.M.Ashton FCCA (retired) 27 Upper Brents Faversham ME13 7DP rL (11 (1,1 l. Date i sè J ?.LJLg- FAVERSHAM ASSISTANCE CENTRE CIO Page 5 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024 Year to Unrestricted Restricted 31.03.2024 funds funds Total Year to 31.03.2023 Income: Voluntary income: Grants KCC Other Donations from clients Church Donations 25,700 13,798 1,721 13,300 39,000 13,798 1,721 34,253 11,814 511 Activities for generating funds: Fundraising events Other donations Other Income 3,306 11,294 155 3,306 11,294 155 1..035 3,375 161 Total incoming resources 55,974 13,300 69,274 51,149 Expenditure Expenditure on charitable activities Wages and National Insurance Pensions Consultancy offi￿ service charges Office and Liability Insurance Office Telephone Office supplies and Postage Van and Transport Costs Tools, Equipment and Materials Website costs Sundry expenses Depreciation 42,328 1,341 4,000 46,328 1,341 37,727 924 1,784 1,800 828 95 712 7,462 1,312 140 598 1,461 2,100 900 50 269 6,000 1,285 164 2,100 917 50 269 7,207 4,174 164 593 747 17 1,207 2,889 593 747 Total Expenditure 49,122 14,768 63.890 54,843 .448t income(oxpenditure) 6,852 -1,468 5,304 -3,694 Transfer between funds Net movemAnt in funds 6,852 {14FJ8) 5.384 -3,69a Reconciliation of Funds Total funds brought forward 29,CJj4 18,865 47,919 51.613 Total funds carried forward 35,906 17,397 53,303 47,919 FAVERSHAM ASSISTANCE CENTRE CIO Page 6 BALANCE SHEET AS AT 31ST IIARCH £024 31st March 2024 31st March 2023 Fixed assets Tangible assets 2,240 4,865 Current assets Debtors and prepayments Current accounts Cash in Hand 1,089 49,794 412 274 42,849 116 Total Current Assets 51,295 43,239 Liabilities Cieditors Deferred Income 232 185 232 18> Nvt current (iS>ets 51,063 43,054 Net Asséts 53,303 47,919 The Funds of thè Charity Unrestricted funds Restricted funds 35,906 17,397 29,054 18,865 Total Charity Funds 53,303 47,919 Signed on behalf of the Trustees on 21 st May 2024 by S Wolfe - Chair of Trustees S Mulford CA- Treasurer VERSHAM AssISTAN￿E CENTRE CIO Page 7 TES TO THE ACCOUNTS R THE YEAR ENDED 31ST MARCH 2024 Accounting policies The PrinGipal aGGounting policies a(Jopted, Judgements and key sources of estimation Un￿rtaintY in the preparation of the financial are as follows: a) Basis of preparation These financial statements have been prepared in Complian￿ with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to charities preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011. Assets and liabtlities are initlally recognised at historical cost or transaction value Linless otherwise stated in the rel vant accounting policy note(s). The financial statements are prepared on a going concern basis. There are no material Un￿rtaIntieS related to events or conditions which would cast doubt on the Charity's ability to continue as a going con￿rn The significant accounting policies applied in the preparation of these financial statements are set out beloMI. These policies have been consistently applied to all years presented unless otherwise stated. b) Incoming resources Income recognition policies Items of income are recognised and included in the accounts when all the following criteria are met: the charity have entitlement to the funds. any performan￿ conditions attached to the item(s) of income have been met or are fully within the control of the Charity. (r￿re Is sufficient certainty that receipt of the income is considered probable; and the amount can be measured reliably Incoming resources with related expenditure When incoming resour￿$ have related expenditure the incoming resour￿$ and related expenditure are reported in the Statement of Financial Activities. SOFA. Donations Donations are only included in the SOFA when the charity has unconditional entitlement to the resources. rax reclaims on donations and gifts Incoming resources from tax rèclaims are includéd in the SOFA when thè gift aid Trom HMRC is received. Volunteer help The value of voluntary help re￿iVed is not included in the accounts c) Resources expended All resources expended are recognised once there is a legal or constructive obligation to make a payment to ? third party. Resources expended include attributable VAT which cannot be recovered. d) Tangible fixed assets i angible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off Ihe cost less estimated residual value of each asset over its expected useful life. During the year, the Trustees agreed that the equipment should be written off in expenditure in the year that it is purchased as many items do not last more than a yea", or two. Accordingly we have written out the tia'iance on the equipment net book value and charged it to tools,equipm.ent and materials. Motor Vehicles 25%pa reducing balan h) Fund accounting Unrestricted funds are donations and other incoming reSour￿S re￿1vable or generated for the objects of the charity without further specified purpose and are available as general funds. Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the TU￿?.. FAVERSHAM ASSISTANCE CENTRE CIO Page 8 NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 31ST MARCH 2024 Voluntary income Unrestricted Restricted Funds Funds 2024 Total 2023 Total Grants 25,7uO 13,3uO J9,000 34,253 Local authoritie> Faversham Town Council Kent County Council Swale Borough Council Swale Councillors 4,000 2,700 350 350 Charities Kent Community Foundation Swire Charitable Trust Allen Lane Foundation The Edward Vinson 1957 Charity Settlement Bensted Charities Queenborough Fisheries Beerling Colyer Fergusson Umbrella - Eastern Area Umbrella - Cost of Living Furley Page Garfield Weston Whitehead Monckton Phillips Foundation National Lottery Community of Presentation WG Edwards 4,000 6,000 4.000 6,000 6,000 3,000 5,000 2,000 4,000 1,000 5,000 531 1,022 1,000 1,000 4,000 4,000 1,000 3,500 1,250 7,000 1,000 3,500 1,250 7,000 9,300 1,000 600 9,300 1,000 600 25,700 13,300 39,000 34,253 Fixod Assets Motor Vehicles Equipment Total Cost As at 31st March 2023 13,506 4.747 18,253 Write downs 4,747 As at 31 st March 2024 13,506 13,5u6 DeDreciation As at 31st March 2023 10,519 2,869 13,388 Charqe for year 747 As at 31 st March 2024 11.266 11.266 Net book values As at 31st Marcn 202i 2.g87 As at 31st March 2024 .240 2,240 Debtors and prepayments 2024 2023 Debtors Prepayments 763 326 274 1.08g 274 FAVERSFIAM ASSISTANCE CENTRE CIO Page 9 NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 31ST MARCH 2024 Creditors: falling due within one year 2024 2023 Tax and National Insurance 232 185 232 185 Analysis of net assets between funds Unrestricted Restricted funds funds Total funds Fixed assets Current asset Current liabilities 2,240 33,898 232 2,240 51,295 232 17,397 35,906 17,397 53,303 7 Restricted Funds Balance at Incoming Expenses Transfers Balance at 01.04.2023 resources 31.03.2024 Protective clothing 1158 -162 996 Van and transport costs 6,000 -6000 Office rent, office insuran￿, telephone and Offi￿ supplies 3,000 -3000 Community event 1,401 1,401 Van,equipment, garage, general Offi￿ costs 1,306 -1306 Service and repairs of tools 300 -300 Salaries 4,000 4000 Redundancy reserv8 15.000 18,865 13,300 -14768 17,397 Restricted fund Salaries A grant from Colyer Fergusson Van and transport costs A grant from the National Lottery Office rent, office insuran￿, telephone and Offi￿ supplies A grant from the National Lottery Service and repairs of tools A grant from the National Lottery