2025-03-31-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 2025

AGE CONCERN PETERSFIELD AND DISTRICT

REGISTERED CHARITY NUMBER 1178837

ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

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) Mr Luc Blais (Hon Treasurer) Mr P Rush Mrs Beverley Fyfe 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 2025

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 sixty 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 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

Our 60[th] Birthday party last August was well attended and much enjoyed by Trustees, Staff, Clients and many Volunteers – with a distinct feeling of companionship and community- it indicates that ACP is doing quite a good job in Petersfield.

Change is constant and we have addressed the concept in the last year. Our Services have expanded to include more emphasis on physical and mental health – Chatty café, Bobby’s Chair Based Exercise classes and Check in and Chat becoming more popular. Our programme of outings has lengthened and widened under Kym’s supervision to include Winter trips – choices to suit different tastes and pockets. Luckily, we have been able to find both Drivers and Escorts and the use of Harting mini-bus has enabled ACP to welcome more people to our community. Wednesday shopping trip clients have transformed into a supportive group, realising one of ACP’s long term goals. While some of our Drivers have retired (and we thank those for their time and dedication) others have come forward, happily accepting the MIDAS training which if offered. Our twice yearly Drivers’ meetings are a vital part of the Organisation and our Trustees note carefully any subsequent suggestions or improvements. Our present mini-bus, Elsa, is getting to be quite an old girl now but at the moment, there are no plans to replace her – we haven’t seen anything we like better!

Lunch club in the Community Centre continues to thrive with Marian at the helm. A waiting list suggests larger premises are needed but an investigation into alternative premises in the town proved unsuccessful and we continue to seek a solution. Our IT tutoring at Winton House is a steady, valued service and Help at Home, under Kym’s leadership and in a challenging market, quietly provides quality support to many in the area. The Annual Christmas ACP events (Guildford Carol Service, the Sinah Warren Lunch and our own Lunch and Party are particularly well- attended, again often with a waiting list.

Page 4 of 16

AGE CONCERN PETERSFIELD AND DISTRICT

TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025 (cont’d)

The October AGM was also well-attended. We said goodbye to Trustee Maroulla Sullivan, thanking her for her diligent and valuable advice. The Board of Trustees (Peter and myself) welcomed Luc Blais and Beverley Fyfe, both of whom bring considerable experience and knowledge of the Charity sector. We extend huge thanks as always to Sheridan for her excellent managerial and organizational skills and to Leo for keeping an expert and sharp eye on our Finances. Staff Appraisals are robustly maintained and DBS checks are due in the coming months as is current Dementia Training awareness and Safeguarding. Policies and Procedures are regularly updated.

Trustee meetings (averaging at 5 per year) give us the opportunity to revise. assess and innovate for the future. Agenda items have covered defining our geographical areas for service provision and the subsequent new pricing bands, updating our IT system, exciting ideas for fundraising and fresh ideas to attract new clients. Above all, we aim to maintain the highest standards, professionalism and value for money for those in Petersfield who use our services.

Financial Review, Investment Policy and Reserves

The charity continues to be financially dependent on voluntary donations, legacies, investment income, investment growth and income from operations to sustain its activities. Interest rates have decreased over the period and investment income has reduced slightly, returning 3.25% over the year. In this reporting year, the charity received a very generous legacy of £10,000 from the estate of Joy Easlick. The charity received no grant funding. Donations and gifts totalled £13,490 for the year.

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 £6,676. The capital value of the investments decreased by £5,832, reversing some of the previous year’s gains. At the beginning of the year 1[st] April 2024, the value of investments was £177,925 and at 31[st] March 2025 it was £197,593. The difference is accounted for by net additions to investment funds to the value of £25,500 in the year (see Note 8 on page 12).

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 by 26% to £71,945 for the year (£57,074 for 2024), and this is a reflection of the creation of an additional role of the minibus manager and increasing staff costs generally. Net resources expended were £26,573 (net income resources were £63,693 in 2024). At the end of the year total funds were £207,187 (£234,710 for 2024).

Reserves Policy

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.

Page 5 of 16

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted Funds £ 12,616 - 32,120 424 212 - 45,372	Restricted Funds £ 874 1,339 - - 53 - 2,266	Expendable Endowment Funds £ - - - - 6,411 (5,832) 579	Totals 31/3/2025 £ 13,490 1,339 32,120 424 6,676 (5,832) 48,217	Unrestricted Funds £ 72,871 - 26,605 136 455 - 100,067	Restricted Funds £ 4,527 500 - - 80 - 5,107	Expendable Endowment Funds £ - - - - 5,612 11,008 16,620	Totals 31/3/2024 £ 77,398 500 26,605 136 6,417 11,008
							121,794
22,114 11,858 627 8,783 388 23,935 4,240 71,945 (26,573) (18,963) 49,256 3,720	664 1,750 - - - 1,381 - 3,795 (1,529) (126) 7,529 £5,874	- - - - - - - - 579 19,089 177,925 £197,593	22,778 13,608 627 8,783 388 25,316 4,240 75,740 (27,523) - 234,710 £207,187	18,744 6,398 736 8,290 - 22,074 832 57,074 42,993 7,163 (900) £49,256	527 - - - 500 - - 1,027 4,080 3,449 - £7,529	- - - - - - - - 16,620 (10,612) 171,917 £177,925	19,271 6,398 736 8,290 500 22,074 832
							58,101
							63,693 - 171,017 £234,710

S AT 31 MARCH 20	25
			Unrestricted Funds	Restricted Funds	Expendable Endowment Funds	Total Funds Unrestricted Funds		Restricted Funds	Expendable Endowment Funds	Total	Funds
		Note				31/3/2025				31/3/2024
FIXED ASSETS
Tangible Assets		6
Investments		8			197,593	197,593			177,925		177,925
Total Fixed Assets					197,593	197,593	142		177,925		177,925
CURRENT ASSETS
Debtors							275				275
Cash at bank and in hand			5,198	5,874		11,072	50,497	7,529			58,026
Total Current Assets			5,198	5,874		11,072	50,772	7,529			58,301
LIABILITIES:
Creditors: Amountsfalling due within		9	1,478			1,478	1,516				1,516
one year
Net Current Assets			3,720	5,874		9,594	49,256	7,529			56,785
Net (Liabilities)/Assets			E3,720	5,874		207,187	E49,256		C177,925	234,710
THE FUNDS OF THE CHARITY:
Expendable Endowment Funds		IO			197,593	197,593			177,925		177,925
Unrestricted Funds		IO	3,720			3,720	49,256				49,256
Restricted Funds				5,874		5,874		7,529			7,529
Total Charity Funds				{5,874	El97,593	207,187		5,529	El77,925	234,710
and signed on its behalfby:
Mrs R Bishop	- Chair.......					Mr L.Blais - Hon Tre	u		/R o?	.2025

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2025

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.

AGE CONCERN PETERSFIELD AND DISTRICT

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2025 (cont)

3. Analysis of employee costs

Salaries and Pension Contributions Social Security Costs Total	31/3/2025 £ 45,009 - £45,009	31/3/2024 £ 34,914 - £34,914

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
	31/3/2025	31/3/2024
	£	£
Independent Examiner’s Fees	450	430

5. Donated Services

The trustees receive no remuneration for their services.

6. Fixed Assets

Cost or estimated cost at 1 April 2024 Disposals Additions At 31 March 2025 Accumulated depreciation at 1 April 2024 Charge for the year At 31 March 2025 Net book value at 31 March 2025 Net book value at 31 March 2024	Minibus £ 35,746 - - 35,746 35,746 - 35,746 £- £-	IT Equipment £ 840 - - 840 840 - 840 £- £-	Total £ 36,586 - -
			36,586
			36,586 -
			36,586
			£- £-

Page 11 of 16

AGE CONCERN PETERSFIELD AND DISTRICT

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2025 (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 2024 Less:Transfer of funds to bank current account Add:Purchase of funds Less: net deficit on revaluation Carrying (market) value at 31 March 2025	£ 177,925 (7,500) 33,000 (5,832) £197,593

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	Market value at year end £ 197,593 £197,593	Income from investments for the year £ 6,411 £6,411

Material Investment Holding

Investment Held COIF Investment Fund £ Market Value £113,911

9. Current Liabilities

Creditors Accruals Social Security	31/3/2025 £ 42 1,211 225 £1,478	31/3/2024 £ 500 830 186 £1,516

Page 12 of 16

AGE CONCERN PETERSFIELD AND DISTRICT

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2025 (cont)

10. Analysis of Fund Assets and Liabilities

Tangible Fixed Assets Fixed Asset Investment Current Assets Current Liabilities	Unrestricted Funds £ - - 5,198 -1,478 £3,720	Restricted Funds £ - - 5,874 - £5,874	Expendable Endowment Funds £ - 197,593 - - £197,593	Total £ - 197,593 11,072 -1,478 £207,187

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 2025

Luncheon Fees Received EHDC Grant John Lewis Grant Staff and Pensions Costs Supplies Equipment Training Special Occasions Room Hire Minibus Fares:Lunchclub & Shopping Fares:Outings Hire Staff Costs Home Office Use Special Outings Fuel Parking Cleaning Maintenance and Repairs Insurance and Car Tax Mobile Phone Miscellaneous Driver Medicals Driver Expenses Driver Training Driver Licensing and Compliance Rental Costs Depreciation	31/3/2025 £ (13,972) (664) - 11,473 7,401 293 124 - 3,482 8,142 (3,466) (3,395) - 6,344 93 2,464 1,060 500 190 1,055 1,040 60 105 54 135 320 8 180 - 6,747	31/3/2024 £ (14,121) - (527) 9,139 6,979 89 - 130 2,934
		4,623
		(3,355) (1,471) (201) - - 238 1,332 722 120 2,341 1,184 21 62 45 62 250 21 - - 1,371

Page 14 of 16

AGE CONCERN PETERSFIELD AND DISTRICT

DEPARTMENTAL ANALYSES

FOR THE YEAR ENDED 31 MARCH 2025 (cont)

Administration Donations Received - Unsolicited Legacies & Bequests Council Grant Bank Interest Investment Income Investment Losses/(Gains) Staff and Pensions Costs Winton House Hot Desk Public Liability Insurance Telephone and Postage Home Office Use Office supplies Repairs Website and IT Costs Room Hire Stationery, Photocopying and Printing Accountancy and Professional Fees Refreshments DBS Checks Gifts Promotion and Marketing Age Concern 60th.Celebrations Training Lavant Court Garden Store Miscellaneous Expenses 50 Club Licence Depreciation Help at Home Fees Received Staff and Pensions Costs Home Office Use Office Equipment Room Hire Mobile Mileage DBS Checks Telephone & Postage Printing and Photocopying	31/3/2025 £ (2,616) (10,874) (675) (265) (6,411) 5,832 19,262 1,050 236 383 416 19 92 507 73 119 450 20 78 61 - 1,164 - 1,381 5 - - 10,307 (5,184) 7,930 116 - 16 67 577 (8) 85 - 3,599	31/3/2024 £ (2,218) (74,153) (500) (535) (5,612) (11,008) 18,305 1,000 199 200 448 - - 675 107 72 430 20 10 103 258 - 65 - - 40 142
		(71,952)
		(5,209) 7,470 208 25 - 156 311 98 9 13
		3,081

Page 15 of 16

AGE CONCERN PETERSFIELD AND DISTRICT

DEPARTMENTAL ANALYSES

FOR THE YEAR ENDED 31 MARCH 2025 (cont)

Christmas Party John Lewis Grant Raffle Raffle Prizes Entertainment Christmas Presents Decorations Christmas Lunch Refreshments Computer Club Fees Received Room Hire Lets Get Moving Fees Received Hall Hire Exercise Specialist Fundraising Events Raffle MiscellaneousIncome Deficit/(Surplus) for the year	31/3/2025 £ - (287) 39 120 99 32 - 98 101 (1,469) 627 (842) (4,634) 680 3,560 (394) (43) (94) (137) £27,523	31/3/2024 £ (500) (136) - - 500 -
		(136)
		(898) 736
		(162)
		(1,350) 136 696
		(518)
		- -
		-
		£(63,693)

Page 16 of 16