AGE CONCERN PETERSFIELD AND DISTRICT
REGISTERED CHARITY NUMBER 1178837
ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2023
AGE CONCERN PETERSFIELD AND DISTRICT
REGISTERED CHARITY NUMBER 1178837
ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023
Page CHARITY INFORMATION .............................................................................................................................. 3 TRUSTEES ANNUAL REPORT ....................................................................................................................... 4 INDEPENDENT EXAMINERS REPORT ....................................................................................................... 7 STATEMENT OF FINANCIAL ACTIVITIES ................................................................................................. 8 BALANCE SHEET .............................................................................................................................................. 9 NOTES TO THE ACCOUNTS ........................................................................................................................ 10 DEPARTMENTAL ANALYSES ..................................................................................................................... 14
Page 2 of 16
AGE CONCERN PETERSFIELD AND DISTRICT
CHARITY INFORMATION
Trustees: Mrs R Bishop (Chair) Ms Maroulla Sullivan (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
Page 3 of 16
AGE CONCERN PETERSFIELD AND DISTRICT
TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2023
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 3 and 5 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, normal operations resumed quickly, the take-up of our services continues to grow and expand. ACP has maintained its proactive response: the maintaining of robust relations with our growing number of clients and innovative new ideas to support them.
New initiatives to improve mental health have flourished since Covid and like many other Charites, ACP has found several ways to support those in need: our Chatty Cafe, the Link up Service and the popular Chair based Exercise classes.
The Minibus service has continued to provide weekly transport for trips into town and for those attending the Lunch Club, as well as memorable outings and trips further afield during the summer months. We are indebted to our team of Drivers – professional and trustworthy bar none. The operating deficit for the minibus service was £614 for the year.
The Computer Club continues to be popular. Our coaches provide tuition tailored to each learner, helping to demystify IT in an ever-expanding digital age.
The Luncheon Club continues to flourish (now with a waiting list) and numbers are restricted only by the size of the kitchen and the equipment available to the team of superb 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 £7,211 for the period.
Our Help at Home, led by Kym Devine, provides a value for money service, much valued by the clients. Recruitment issues are ongoing and are felt nationwide.
We look to 2024 – a big year for ACP. We celebrate our 60[th] Birthday in Petersfield.
Page 4 of 16
AGE CONCERN PETERSFIELD AND DISTRICT
TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2023 (cont.)
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 improved over the period and investment income remained steady, returning 3.5% over the year. In this reporting year, the charity received no legacies and no grant funding. Donations and gifts totalled £7,328.
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 £5,990. The capital value of the investments decreased by £14,723, reflecting the poor performance of the investment market, reversing the gains of £15,855 in Y/E 2022. At the beginning of the year 1[st] April 2022, the value of investments was £199,190 and at 31[st] March 2023 it was £171,917. The difference is accounted for by the sale of funds to the value of £18,990 in the year.
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 increased to £56,985 for the year (£52,119 for 2022), reflecting increasing costs in all areas. The net resources expended were £36,598 (net income resources £8,811 for 2022). At the end of the year total funds were £171,017 (£207,615 for 2022).
Page 5 of 16
6
AGE CONCERN PETERSFIELD AND DISTRICT
INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES ON THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023
I report to the trustees on my examination of the accounts of Age Concern Petersfield and District for the year ended 31[st] .March 2023.
Responsibilities and Basis of Report
As the trustees of the Charity you are responsible for the preparation of the accounts in accordance with the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)b of the 2011 Act.
Independent examiner’s statement
I have completed my examination.I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1.accounting records were not kept in respect of the Charity as required by section 130 of the Act; or
2 the accounts do not accord with those records; or
3.the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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
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.
G R Beer MA (Cantab) FCA Chartered Accountant 4, Chilgrove House Marden Way Petersfield, Hampshire GU31 4PU 2023
Page 7 of 16
AGE CONCERN PETERSFIELD AND DISTRICT STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
| Incoming Resources Note Donations and gifts Fees Other Contributions Furlough Grants Investment Income 8 Investment Gains/(Loss) Total resources incoming Resources Expended Luncheon club Minibus service Computer Club Help at Home Christmas Party Administration Let’s Get Moving Mindfulness Sessions Total resources expended Net Income resources/ (resources expended) Gross transfer between Funds Funds brought forward at 1 April 2022 10 Funds carried forward at 31 March 2023 10 |
Unrestricted Funds £ 7,328 20,094 1,748 - - - 29,170 17,577 6,983 579 8,059 88 22,521 994 184 56,985 (27,815) 18,990 7,925 £(900) |
Restricted Funds £ - - - - - - - - - - - - 500 - - 500 (500) - 500 £- |
Expendable Endowment Funds £ - - - 5,990 (14,273) (8,283) - - - - - - - - - (8,283) (18,990) 199,190 £171,917 |
Totals 31/3/2 £ 7,328 20,094 1,748 - 5,990 (14,273) 20,887 17,577 6,983 579 8,059 88 23,021 994 184 57,485 (36,598) - 207,615 £171,017 |
Unrestricted Funds £ 20,469 15,258 649 2,549 - - 38,925 14,706 9,255 533 7,360 237 20,028 - - 52,119 (13,194) 6,150 14,969 £7,925 |
Restricted Funds £ - - - - - - - - - - - - - - -- - - - 500 £500 |
Expendable Endowment Funds £ - - - - 6,150 15,855 22,005 - - - - - - - - - 22,005 (6,150) 183,335 £199,190 |
Totals 31/3/2022 £ 20,469 15,258 649 2,549 6,150 15,855 |
|---|---|---|---|---|---|---|---|---|
| 60,930 | ||||||||
| 14,706 9,255 533 7,360 237 20,028 - - |
||||||||
| 52,119 | ||||||||
| 8,811 - 198,804 £207,615 |
Page 8 of 16
| GE CONCERN PETERSFIELDAN ALANCE SHEET S AT 31 MARCH 2023 |
D DIS | TRICT | TRICT | TRICT | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Unrestricted Funds |
Restricted Funds |
Expendable Endowment Funds |
Total Funds | Unrestricted Funds |
Restricted Funds |
Expendable Endowment Funds |
Total Funds | ||||
| Note | 31/3/2023 | 31/3/2022 | |||||||||
| FIXED ASSETS | |||||||||||
| Tangible Assets | 6 | 142 | 142 | 1,917 | 1,917 | ||||||
| Investments | 8 | 171,917 | 171,917 | 199,190 | 199,190 | ||||||
| Total Fixed Assets | 142 | 171 917 | 172 059 | 1,917 | 199,190 | 201 107 | |||||
| CURRENT ASSETS | |||||||||||
| Debtors | 712 | 712 | 2,504 | 2,504 | |||||||
| Cash at bank andin hand | 329 | 329 | 4,605 | 500 | 5,105 | ||||||
| Total Current Assets | 1,041 | 1,041 | 7,510 | 500 | 7,609 | ||||||
| LIABILITIES: | |||||||||||
| Creditors: Amounts falling due within | 9 | 2,083 | 2,083 | 1,101 | 1,101 | ||||||
| one year | |||||||||||
| Net CurrentAssets | (1,042) | (1,042) | 6,008 | 500 | 6,508 | ||||||
| Net (Liabilities)/Assets | Elli 917 | 171 017 | 7 925 | 500 | E199 190 | 207,615 | |||||
| THE FUNDS OF THE CHARITY: | |||||||||||
| Expendable Endowment Funds | 10 | 171,917 | 171,917 | 199,190 | 199,190 | ||||||
| Unrestricted Funds | 10 | (900) | (900) | 7,925 | 7,925 | ||||||
| Restricted Funds | 500 | 500 | |||||||||
| Total Charity Funds | E171 917 | 017 | E7 925 | €500 | E199 190 | 207,615 | |||||
| and signed on its behalfby: | |||||||||||
| Mrs R Bishop - Chair |
! | . | .. ...2023 | Ms Maroulla Sullivan (HonTreasurer).. | . ....2023 |
AGE CONCERN PETERSFIELD AND DISTRICT
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2023
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.
Page 10 of 16
AGE CONCERN PETERSFIELD AND DISTRICT
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2023 (cont)
3. Analysis of employee costs
| Salaries and Pension Contributions Social Security Costs Total |
31/3/2023 £ 34,160 - £34,160 |
31/3/2022 £ 31,200 - £31,200 |
|---|---|---|
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 | ||
|---|---|---|
| 31/3/2023 | 31/3/2022 | |
| £ | £ | |
| Independent Examiner’s Fees | 420 | 420 |
5. Donated Services
The trustees receive no remuneration for their services.
6. Fixed Assets
| Cost or estimated cost at 1 April 2022 Disposals Additions At 31 March 2023 Accumulated depreciation at 1 April 2022 On Disposals Charge for the year At 31 March 2023 Net book value at 31 March 2023 Net book value at 31 March 2022 |
Minibus £ 35,746 - - 35,746 34,251 - 1,495 35,746 £0 £1,495 |
IT Equipment £ 840 - - 840 418 - 280 698 £142 £422 |
Total £ 36,586 - - |
|---|---|---|---|
| 36,586 | |||
| 34,669 - 1,775 |
|||
| 36,444 | |||
| £142 £1,917 |
Page 11 of 16
AGE CONCERN PETERSFIELD AND DISTRICT
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2023 (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 2022 Less:Transfer of funds to bank current account Less: net deficit on revaluation Carrying (market) value at 31 March 2023 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 |
Market value at year end £ 171,917 £171,917 COIF Investment Fund £ £98,124 31/3/2023 £ - 2,045 38 £2,083 |
£ 199,190 (13,000) (14,273) £171,917 Income from investments for the year £ 5,990 £5,990 31/3/2022 £ - 1,063 38 £1,101 |
|---|---|---|
9. Current Liabilities
Page 12 of 16
AGE CONCERN PETERSFIELD AND DISTRICT
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2023 (cont)
10. Analysis of Fund Assets and Liabilities
| Tangible Fixed Assets Fixed Asset Investment Current Assets Current Liabilities |
Unrestricted Funds £ 142 - 1,041 (2,083) £(900) |
Restricted Funds £ - - - - £- |
Expendable Endowment Funds £ - 171,917 - - £171,917 |
Total £ 142 171,917 1,041 (2,083) £171,017 |
|---|---|---|---|---|
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.
Page 13 of 16
AGE CONCERN PETERSFIELD AND DISTRICT
DEPARTMENTAL ANALYSES
FOR THE YEAR ENDED 31 MARCH 2023
| Luncheon Fees Received Staff and Pensions Costs Furlough Grants Mileage Supplies Equipment Expenses Special Occasions Room Hire Minibus Fares:Lunchclub & Shopping Fares:Outings Hire Special Outings Fuel Parking Cleaning Maintenance and Repairs Insurance and Car Tax Mobile Phone Miscellaneous Driver Medicals Driver Expenses Breakdown Cover Depreciation |
31/3/2023 £ (10,366) 9,304 - - 5,004 153 3 112 3,001 7,211 (2,843) (1,697) (334) 1,196 1,885 2 150 795 835 60 90 100 76 299 1,495 2,109 |
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 |
Page 14 of 16
AGE CONCERN PETERSFIELD AND DISTRICT
DEPARTMENTAL ANALYSES
FOR THE YEAR ENDED 31 MARCH 2023 (cont)
| Administration Donations Received - Unsolicited Legacies & Bequests Investment Income Investment Losses/(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 Sponsorship Training Miscellaneous Expenses 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 |
31/3/2023 £ (7,328) - (5,990) 14,273 17,621 1,000 - 48 504 245 384 6 768 97 160 420 30 - 221 750 302 170 5 10 280 23,976 (4,939) 7,235 - 208 207 318 - 25 - 46 20 3,120 |
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 |
Page 15 of 16
AGE CONCERN PETERSFIELD AND DISTRICT
DEPARTMENTAL ANALYSES
FOR THE YEAR ENDED 31 MARCH 2023 (cont)
| Christmas Party Raffle Entertainmemt Christmas Presents Raffle Refreshments Computer Club Fees Received Room Hire Lets Get Moving Fees Received Hall Hire Sessions Costs Mindfulness Sessions Fees Received Costs Deficit/(Surplus) for the year |
31/3/2023 £ (51) 2 21 - 65 37 (653) 579 (74) (784) 394 600 210 (175) 184 9 £36,598 |
31/3/2022 £ (44) - 200 37 |
|---|---|---|
| 193 | ||
| (510) 533 |
||
| 23 | ||
| - - - |
||
| - | ||
| - - |
||
| - | ||
| £(8,811) |
Page 16 of 16