2022-03-31-accounts - Age Concern Petersfield And District

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

AGE CONCERN PETERSFIELD AND DISTRICT REGISTERED CHARITY NUMBER 1178837

ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2022

AGE CONCERN PETERSFIELD AND DISTRICT

REGISTERED CHARITY NUMBER 1178837

ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2022

Page CHARITY INFORMATION .............................................................................................................................. 3 TRUSTEES ANNUAL REPORT ....................................................................................................................... 3 INDEPENDENT EXAMINERS REPORT ....................................................................................................... 7 STATEMENT OF FINANCIAL ACTIVITIES ................................................................................................. 8 BALANCE SHEET .............................................................................................................................................. 9 NOTES TO THE ACCOUNTS ........................................................................................................................ 10 DEPARTMENTAL ANALYSES ..................................................................................................................... 14

2 of 16

AGE CONCERN PETERSFIELD AND DISTRICT

CHARITY INFORMATION

Trustees:	Mrs R Bishop (Chair)
	Ms Maroulla Sullivan (Hon Treasurer)
	Mrs S Zirps
	Mr P Rush
	Mrs R Sander
Principal Officers:	Mr L Seymour (Finance Officer)
	Mrs S Rocher (Manager)
Charity Number:	1178837
Principal Office:	Age Concern Petersfield and District
	The Winton House Centre
	18 High Street
	Petersfield
	Hampshire
	GU32 3JL
Independent Examiner:	Mr G R Beer MA (Cantab) FCA
	4, Chilgrove House
	Marden Way
	Petersfield
	Hampshire
	GU31 4PU
Bankers:	Lloyds
	Blackheath
	London
	BX1 1LT

3 of 16

AGE CONCERN PETERSFIELD AND DISTRICT

TRUSTEES ANNUAL REPORT

FOR THE YEAR ENDED 31 MARCH 2022

History, objectives and activities of the Trust

Age Concern Petersfield and District is an independent charity and its aim is to promote and encourage the welfare of older people in and around Petersfield, in the area of East Hampshire.

The original Charity was formed over fifty years ago. Since its inception the Trustees had always placed great value on providing practical services which meet the needs of older people and enable them to continue to live independently in their own homes. On 18 June 2019, a new charity was formed as a Charitable Incorporated Organisation (CIO) with the same name and aims as the original charity. The latter ceased activities on 31 October 2019 and on that date all assets and liabilities were transferred to the CIO.

Management and governance arrangements

The governing document provides for a minimum of 3 and a maximum of 12 trustees. Were there a requirement for new trustees, these would be selected and appointed by the current trustees. The chair of trustees is responsible for the induction of any new trustee which involves awareness of a trustee’s responsibilities, the governing document, administrative procedures and the history and philosophical approach of the charity. A new trustee would receive copies of the previous year’s annual report and accounts and a copy of the Charity commission leaflet “The Essential Trustee: What You Need to Know”. The current trustees have held office for between 2 and 4 years.

The trustees annually review the risks that the charity faces. To date these have mainly related to investment management. There are also minor areas of risk relating to employing staff which have been covered by proper procedures and insurance.

Achievements and Performance of the Trust

In the aftermath of the Covid pandemic and with the relaxing of restrictions in late summer of 2021, normal operations resumed and the take-up of our services recovered very well. Clearly, pent-up demand for social contact was strong amongst our clients who had been denied it for so long. Our proactive response to the lockdowns and the maintaining of relations with our clients were strong factors in this successful bounce back.

At the beginning of 2019, we launched a new service, Help at Home, as a successor to Homeclean. This is subscription based, providing a wide range of services covering housework, laundry, shopping and companionship (but not personal care) aimed at helping older people continue to live in their own homes. Kym Devine does an excellent job as coordinator and this service continues to grow. The operating deficit was £3,080.

The Minibus service has continued to provide weekly transport for trips into town and for those attending the Lunch Club, as well as outings and trips further afield during the summer months. The operating deficit for the minibus service was £1,474 for the year.

The Computer Club continues to be popular although numbers and income fluctuate, and the service breaks even.

The Luncheon Club continues to flourish, and numbers are restricted only by the size of the kitchen and the equipment available to the team of volunteers led by our cook Marian Leybourne. She continues her excellent work in providing delicious 2-course meals for only £5. The operating deficit was £3,850 for the period.

4 of 16

AGE CONCERN PETERSFIELD AND DISTRICT

TRUSTEES ANNUAL REPORT

FOR THE YEAR ENDED 31 MARCH 2022

Financial Review, Investment Policy and Reserves

The charity continues to be financially dependent on voluntary donations, investment income, investment growth and income from operations to sustain its activities. Interest rates have remained extremely low and investment income has continued to fall slightly, returning 3.1% over the year. In this reporting year, the charity was fortunate to receive legacies of £17,131. The Charity received no Grant funding. Donations and gifts totalled £20,469 which includes these legacies. It is interesting to note that unsolicited donations have tailed off since the end of the pandemic.

The trustees have set a policy that the Expendable Endowment should be invested to maximize the total return (capital growth plus income) with a medium level of risk. The income from investments was £6,150. The capital value of the investments increased by £15,855, a smaller increase than in the booming market conditions in 2021 which was £22,683. At the beginning of the year March 2021, the value of investments was £183,335 and at 31[st] March 2022 it was £199,190.

Total return from the Expendable Endowment is split between funds retained as capital and funds used as income. Although the trustees have the power to spend the Expendable Endowment, the investment of capital is the only source of ongoing income and so the fund is invested with the objective of ensuring that the Expendable Endowment retains approximately its real value in the medium term. This approach means the money available to spend as income can fluctuate.

Operational costs have decreased to £52,119 for the year (£54,540 for 2021). These figures exclude furlough grants received which reduced actual staff costs in both 2021 and 2022. The net income resources were £8,811 (net income resources £5,741 for 2021). At the end of the year total funds were £207,615 (£198,804 for 2021).

Reserves Policy

The Reserves Policy has been revised following a review this year, and the trustees consider that the revised policy better reflects the long-term aim of the charity of continuing to provide the services which are so valued by its clients. The Reserves Policy is reviewed annually as part of the Charity’s governance review.

Unrestricted funds are needed:

a. To provide funds which can be designated to specific projects to enable these projects to be undertaken at short notice and
b. To cover administration fund-raising and support costs without which the charity could not function.

The trustees consider it prudent that unrestricted reserves should be sufficient:

a. To cover one year’s administration, fund-raising and support costs and
b. To cover 100% of the cost of subsidising the charity’s services for one year.

5 of 16

AGE CONCERN PETERSFIELD AND DISTRICT

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022

Incoming Resources		Unrestricted Funds	Restricted Funds	Expendable Endowment Funds	Totals 31/3/2022	Unrestricted Funds	Restricted Funds	Expendable Endowment Funds	Totals 31/03/2021
	Note	£	£	£	£	£	£	£	£
Donations and gifts		20,469	-	-	20,469	18,747	-	-	18,747
Fees		15,258	-	-	15,258	5,374	-	-	5,374
OtherContributions		649	-	-	649	-	-	-	-
FurloughGrants		2,549	-		2,549	7,135	-	-	7,135
InvestmentIncome	8	-	-	6,150	6,150	-	-	6,342	6,342
InvestmentGains/(Loss)		-	-	15,855	15,855	-	-	22,683	22,683

Total resourcesincoming		38,925	-	22,005	60,930	31,256	-	29,025	60,281

Resources Expended

Luncheonclub		14,706	-	-	14,706	10,842	-	-	10.842
Minibus service		9,255	-	-	9,255	10,289	-	-	10,289
ComputerClub		533	-	-	533	50	-	-	50
Help at Home		7,360	-	-	7,360	7,070	-	-	7,070
ChristmasParty		237	-	-	237	-	-	-	-
Administration		20,028	-	-	20,028	26,289	-	-	26,289

Total resources expended		52,119	-	-	52,119	54,540	-	-	54,540

Net Income resources/ (resources expended)		(13,194)	-	22,005	8,811	(23,284)	-	29,025	5,741

Gross transfer between Funds		6,150	-	(6,150)	-	21,342	-	(21,342)	-
Funds brought forward at 1 April 2021		14,969	500	183,335	198,804	16,911	500	175,652	193,063

Funds carried forward at 31 March 2022		£7,925	£500	£199,190	£207,615	£14,969	£500	£183,335	£198,804

8 of 16

ALANCE SHEET SAT 31 MARCH 2022
		Unrestricted	Restricted	Expendable	Total	Funds	Unrestricted		Restricted	Expendable	Total Funds
		Funds	Funds	Endowment	31/03/2022		Funds		Funds	Endowment	31/03/2021
				Funds						Funds
	Note
FIXED ASSETS
Tangible Assets	6	1,917				1,917	8,153				8,153
Investments	8			190		99,190				183,335	183,335
Total Fixed Assets		1,917		199, 190	201 107		8	153		183,335	191,488
CURRENT ASSEIS
Debtors		2,504				2,504					I,205
Cash at bank and in hand		4,605	500			5,105	6,305		500		6,805
Total Current Assets		7,109	500			7,609	7,510		500		8,010
LIABILITIES:
Creditors: Amounts falling due within one year	9	1,101				1,101		694			694
Net Current Assets		6,008	500			6.508	6,816		500		7,316
Net Assets			500	E199 190	207.615		{14,969		E500	E183,335	E198 804
THE FUNDS OFTHECHARITY:
Expendable Endowment Funds	10			199,190	199,190					183,335	183,335
Unrestricted Funds	10	7,925				7,925	14,969				14,969
Restricted Funds			500			500			500		500
Total Charity Funds		925	{500	E199 190	207 615		{14	969	E500	E183 335	E198 804
and signed on its behalf by:
Mrs R Bishop - Chair		22	022	Ms M	Sullivan	— Hon	Treasurer	.			022

AGE CONCERN PETERSFIELD AND DISTRICT

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2022

1. Accounting Policies

In preparing the accounts the following accounting policies have been complied with:

a) The accounts have been prepared under the historical cost convention as modified for the revaluation of investments. The accounts have been prepared in accordance with the Statement of Recommended Practice (SORP) :Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 14 July 2014 and the Charities Act 2011.
b) In preparing the accounts,the trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 a restatement of comparative items was needed.No restatements were required.
c) Fixed assets are valued at cost or where this is not known at estimated cost. Laundry Equipment has been disposed of for nil proceeds and depreciation for the Computer has been provided at 33.33% per annum on a straight-line basis. Depreciation for the Minibus has been provided at 16.667% per annum on a straight-line basis.
d) Provisions are made for liabilities incurred but not yet paid. Commitments entered into by the trustees but not yet paid are identified in a separate note.
e) Donations and legacies are recorded as income in the year of receipt. Items receivable are identified in a separate note.
f) Revenue grants paid and received are recorded in the year’s payments and receipts.
g) Investment income is the income received in the period on sums deposited with building societies, banks, investment funds and national savings.
h) Income and expenditure is shown gross in the accounts and not netted off.
i) As a result of a review of the origins of the old charity’s funds in 2005 the trustees determined that the funds arising from the sale of the Brownfield House property should have been treated as giving rise to an Expendable Endowment Fund. The property was a gift to the Charity which sold for a substantial profit in 1997. The value of the gift relative to the size of the charity was such that the donor must have intended it to be of a capital nature. The trustees had therefore in 2005 transferred a sum equivalent to the current value of the benefit arising from the sale of the Brownfield House property to an expendable endowment fund.This has been transferred to the new CIO charity
j) Investment gains and losses includes any gain or loss on the sale of investments and any gain or loss resulting form revaluing investments to market value at the end of the year.
k) The Trustees have confirmed that there are no material uncertainties about the charity’s ability to continue as a going concern.
l) Irrecoverable VAT is charged against the expenditure heading for which it was incurred.
m) The charity have registered with NEST to offer employees entitlement to join a defined contribution “money purchase” scheme.Three employees are now eligible.

2. Taxation

The Trust is a registered charity and accordingly is exempt from taxation on its income and gains where they are applied for charitable purposes.

10 of 16

AGE CONCERN PETERSFIELD AND DISTRICT

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2022 (cont)

3. Analysis of employee costs

Salaries and Pension Contributions Social Security Costs Total	31/3/2022 £ 31,200 - £31,200	31/3/2021 £ 33,865 - £33,865

No employee received emoluments of over £60,000 during the period.

Average number employees for the period was 4.

Average number of full time equivalent employees for the period was 0.

4. Legal and Professional costs

egal and Professional costs
	31/3/2022	31/3/2021
	£	£
Independent Examiner’s Fees	420	400

5. Donated Services

The trustees receive no remuneration for their services.

6. Fixed Assets

Cost or estimated cost at 1 April 2021 Disposals Additions At 31 March 2022 Accumulated depreciation at 1 April 2021 On Disposals Charge for the year At 31 March 2022 Net book value at 31 March 2022 Net book value at 31 March 2021	Minibus £ 35,746 - - 35,746 28,295 - 5,956 34,251 £1,495 £7,451	IT Equipment £ 840 - - 840 138 - 280 418 £422 £702	Total £ 36,586 - -
			36,586
			28,433 - 6,236
			34,669
			£1,917 £8,153

11 of 16

AGE CONCERN PETERSFIELD AND DISTRICT

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2022 (cont)

7. Commitments

The trustees are not committed to any capital purchases at the year end.

8. Fixed Asset Investments

Carrying (market) value at 1 April 2021 Add: net surplus on revaluation Carrying (market) value at 31 March 2022 Analysis of Investments Investments listed on a recognised stock exchange or held in common investment funds, open ended investment companies, unit trusts or other collective investment schemes Material Investment Holding Investment Held Market Value Current Liabilities Creditors Accruals Social Security	£ 183,335 15,855 £199,190 Market value at year end Income from investments for the year £ £ 199,190 6,150 £199,190 £6,150 COIF Investment Fund £ £109,431 31/3/2022 £ 31/3/2021 £ - - 1,063 652 38 42 £1,101 £694
	31/3/2022 £ - 1,063 38 £1,101

Carrying (market) value at 1 April
2021
Add: net surplus on revaluation
Carrying (market) value at 31 March
2022
Analysis of Investments
Investments listed on a recognised
stock exchange or held in common
investment funds, open ended
investment companies, unit trusts or
other collective investment schemes

Material Investment Holding
Investment Held
Market Value
Current Liabilities
Creditors
Accruals
Social Security

£
183,335
15,855
£199,190
Market value
at year end
Income from
investments
for the year
£
£
199,190
6,150
£199,190
£6,150
COIF Investment Fund
£
£109,431
31/3/2022
£
31/3/2021
£
-
-
1,063
652
38
42
£1,101
£694

31/3/2022
£
-
1,063
38
£1,101

9. Current Liabilities

12 of 16

AGE CONCERN PETERSFIELD AND DISTRICT

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2022 (cont)

10. Analysis of Fund Assets and Liabilities

Tangible Fixed Assets Fixed Asset Investment Current Assets Current Liabilities	Unrestricted Funds £ 1,917 - 7,109 (1,101) £7,925	Restricted Funds £ - - 500 - £500	Expendable Endowment Funds £ - 199,190 - - £199,190	Total £ 1,917 199,190 7,609 (1,101) £207,615

The unrestricted funds of the charity may be applied for any charitable purpose at the discretion of the trustees.

The expendable endowment and additions thereto are to be invested and the income used for any charitable purpose at the discretion of the trustees. The expendable endowment may also be spent at the absolute discretion of the trustees.

13 of 16

AGE CONCERN PETERSFIELD AND DISTRICT

DEPARTMENTAL ANALYSES

FOR THE YEAR ENDED 31 MARCH 2022

Luncheon Fees Received Staff and Pensions Costs Furlough Grants Mileage Supplies Equipment Special Occasions Room Hire Minibus Fares:Lunchclub & Shopping Fares:Outings Special Outings Staff and Pensions Costs Furlough Grants Fuel Parking Cleaning Maintenance and Repairs Insurance and Car Tax Mobile Phone Miscellaneous DBS Checks Driver Medicals Driver Expenses Breakdown Cover Depreciation	31/3/2022 £ (9,756) 8,498 (1,100) 30 3,535 34 143 2,466 3,850 (1,220) (605) 307 - - 742 500 60 471 806 60 8 - 65 57 223 5,956 7,430	31/3/2021 £ (2,866) 8,174 (4,796) - 1,725 111 9 823
		3,180
		(55) - - 1,416 (1,233) 116 - 69 1,582 765 60 58 50 - 217 5,956 9,001

14 of 16

AGE CONCERN PETERSFIELD AND DISTRICT

DEPARTMENTAL ANALYSES

FOR THE YEAR ENDED 31 MARCH 2022 (cont)

Administration Donations Received - Unsolicited Legacies & Bequests Investment Income Investment (Gains) Staff and Pensions Costs Winton House Hot Desk Furlough Grants Parking & Mileages Public Liability Insurance Telephone and Postage Home Office Use Office supplies Website and IT Costs Room Hire Stationery, Photocopying and Printing Accountancy and Professional Fees Refreshments DBS Checks Gifts Donations Promotion and Marketing Miscellaneous Expenses Covid 19 Supplies Depreciation Help at Home Fees Received Staff and Pensions Costs Furlough Grants Home Office Use Mobile Mileage Taxi DBS Checks Cafe Telephone & Postage Printing and Photocopying	31/3/2022 £ (3,338) (17,131) (6,150) (15,855) 16,368 1,000 (941) - 409 230 416 13 615 59 40 420 - 10 7 21 135 5 - 280 (23,387) (3,772) 6,334 (508) 208 202 273 39 270 5 16 13 3,080	31/3/2021 £ (8,747) (10.000) (6,342) (22,683) 17,941 - (285) 5 405 386 392 147 381 - 45 400 5 - 72 772 - 37 5,161 138
		(21,768)
		(2,453) 6,334 (821) 172 210 335 - (44) - 41 22
		3,796

15 of 16

AGE CONCERN PETERSFIELD AND DISTRICT

DEPARTMENTAL ANALYSES

FOR THE YEAR ENDED 31 MARCH 2022 (cont)

Christmas Party Raffle Christmas Presents Raffle Computer Club Fees Received Room Hire Broadband (Surplus) for the year	31/3/2022 £ (44) 200 37 193 (510) 533 - 23 £(8,811)	31/3/2021 £ - - -
		-
		- - 50
		50
		£(5,741)

16 of 16