Charity number: 1187363
Age UK South Kent Coast
Trustees' report and financial statements For the period ended 31 March 2021
Age UK South Kent Coast
Contents
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 10 |
| Independent auditor's report on the financial statements | 11 - 14 |
| Statement of financial activities | 15 |
| Balance sheet | 16 |
| Statement of cash flows | 17 |
| Notes to the financial statements | 18 - 37 |
Age UK South Kent Coast
Reference and administrative details of the Charity, its Trustees and advisers For the period ended 31 March 2021
| Trustees | B A Manley (appointed 10 July 2020) |
|---|---|
| T Scott (appointed 10 July 2020) | |
| J K Andrews (appointed 10 July 2020) | |
| W E Flavell (appointed 14 January 2020) | |
| I H Ward (appointed 14 January 2020) | |
| Dr W J Madgwick (appointed 14 January 2020) | |
| S H Beer (appointed 9 September 2020) | |
| H A Barker (appointed 14 January 2020) | |
| Charity registered number 1187363 Principal office 3 Park Street Deal Kent CT14 6AG Independent auditor Kreston Reeves LLP Chartered Accountants Statutory Auditor Montague Place Quayside Chatham Maritime Chatham Kent ME4 4QU |
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Age UK South Kent Coast
Trustees' report For the period ended 31 March 2021
The Trustees present their annual report together with the audited financial statements of the Charity for the period from 1 July 2020 to 31 March 2021.
Objectives and activities
a. Policies and objectives
Our Charity's purpose, as set out in the Company’s Memorandum of Association, is to promote the well-being of the older person in and around East Kent. The Charity fulfils its purpose for the public benefit by providing the following services to the older person:
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Signposting to relevant support services and benefits available via our Information and Advice Service
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o Advocacy services enabling the elderly to express their views and concerns o Dementia and carer support
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Outreach services including meal deliveries
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Social opportunities and activities at our two Centres and in the community
The purpose of these services is to support older people in a way that improves their well-being and enables them to lead an independent and fulfilling life.
b. Strategies for achieving objectives
The Trustees set the aims and objectives for the Charity and consider how these will be achieved through the planned activities. We review our aims, objectives and activities regularly at Board meetings looking at the outcomes of our work; the success of each key activity/service in terms of benefit to the individual; and how we can improve and build on the services we offer.
We have referred to the Charities Commission guidance on public benefit when carrying out our review and in planning future activities.
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Age UK South Kent Coast
Trustees' report (continued) For the period ended 31 March 2021
Objectives and activities (continued)
c. Activities undertaken to achieve objectives
The pandemic has continued to overtake many of our activities but our main objective for the year continued to be the delivery and promotion of personalised care and well-being services, delivered in a flexible and innovative way to enable individuals to self-direct the care and support they need to improve the quality of their life.
We continued to provide a broad range of services reflective of the ISO 9001 quality standards.
We were successful in being a senior part of the bid for the KCC Well-Being Contract for South Kent Coast and Thanet working with Social Enterprise Kent, other Age UKs in South East Kent and other organisations which will commence on 1st April 2021. This will have a significant effect on the structure and operation of the charity as we will have to work to achieving strict Key points and Outcomes.
We worked in partnership with South Kent Commissioning Group, Age UK National and local Age UK centres plus other local agencies and health/social care professionals to ensure the widest range of services.
Dementia Outreach: Our designated Dementia outreach worker continued to provide support to individuals and carers in what was a very difficult and distressing time for all concerned.
Independent Living Support: Whilst this service remains in abeyance, it transformed to a free prescription and shopping service. We continued to be overwhelmed by incredibly anxious older people ringing for support.
The Charity has further consolidated links this year with senior commissioners and providers within the NHS South Kent Coast CCG, The Kent and Medway Mental Health Trust and Kent County Council in order to ensure our services remain viable and responsive to the ever-increasing needs of our clients, their carers and their families.
d. Volunteers
We couldn’t have done all this without the commitment and dedication of our staff and the extraordinary efforts of our volunteers who provided over 140 sessions per week which adds up to a magnificent 14,560 hours which is worth in the region of £126,960 to the Charity. We are truly indebted to them all.
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Age UK South Kent Coast
Trustees' report (continued) For the period ended 31 March 2021
Achievements and performance
a. Main achievements of the Charity
OUR SERVICES
All our activities focus on providing opportunities for older people to make informed choices, maintain healthy lifestyles, meet realistic personal aspirations and enhance their support networks. All our charitable activities focus on providing services that promote and support the health and well-being of those who are older and more vulnerable in our community and that enable them to remain living in their own homes for as long as possible.
b. Review of activities
Services provided by Age UK South Kent Coast
Despite the difficult situation created by the pandemic and the merger, we continued to provide our vital health and well-being services, assisting clients to claim various benefits and entitlements which enabled them to live more comfortably.
We achieved delivery of the following services during the financial year providing a vital lifeline to many older and vulnerable clients who would have struggled without them. We delivered 42,000 hot nutritious meals
We collected and delivered 5,200 Shopping orders
We collected and delivered 1,000 prescriptions
We sent out 120 Free Food Boxes to needy homes
We made 43,200 Welfare Phone Calls
Our Independent Living Services supported 236 very vulnerable clients in their own homes
During the period covered by this report our Meal Delivery Service, shopping and prescription collection and independent living service have enabled those receiving these services to remain independent in their own homes. Our Information and Advice service has supported the more vulnerable by identifying and assisting them with claiming additional financial and other benefits available.
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Age UK South Kent Coast
Trustees' report (continued) For the period ended 31 March 2021
Achievements and performance (continued)
Sadly, a number of services were halted as they were impossible to provide due to ongoing Covid guidance.
The hairdresser at Deal, who has been offering this service for some 30 years, has decided to retire and we have not been able to replace her. We would like to place on record our thanks for her sterling service at Deal.
Testimonials
"I like the company, the meals are very good, the carers are good, we've got bingo, quizzes, netball, chiropody and loads of activities they do to keep us happy. You get picked up, dropped off... what more could you ask for? " - Alice
" I have been here three times a week for the past 4 years. I find the staff and volunteers are always friendly and very helpful. Food is very good, well presented and the choice is excellent.
Age UK is a good meeting place to make friends and I enjoy coming here ;A variety of activities such as bingo, musical sessions, crafts, outings etc etc are provided. It's up to the individuals to decide if they wish to take part ." – Bill
" I have been coming twenty years now and couldn't do without it. The food is very good, the people are very nice and the staff are wonderful and do things to entertain us." – Annie
"I love coming for a good laugh. I like the people and the carers, I've made some good friends. Everyone's so caring here ." - Keith
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Age UK South Kent Coast
Trustees' report (continued) For the period ended 31 March 2021
Achievements and performance (continued)
The Merger
The new CIO was formally established on 14th January 2020 and began operations on 1st July that year. The merger of the two Charities, which had been delayed due to the impact of Covid 19. The new organisation – Age UK South Kent Coast – was allocated the Folkestone, Dover and Deal Area with outlying villages by Age UK. The merger has put us in a better position to forge partnerships with other organisations in order to face the challenges the future may bring and enable us to reorganize our structure to cope with the competitive tendering process with KCC. This is shown in the previous section which reviews the contracts successfully awarded to the new organisation.
Impact of the Covid 19 Pandemic
The Trustees Report this year reflects the impact of the pandemic on the way we have delivered our services as these were changes we could not have foreseen and have continued throughout the year. It has forced us to change all our everyday working activities and practices.
The safeguards introduced prior to July 2020 were kept in place only being relaxed slightly towards the end of April 21. Strict infection control measures were maintained with Perspex screens at all desks and work stations. The level of requests for help with free food parcels, shopping and prescriptions rose significantly as did the bookings for our Meal Delivery Service across both centres. We also increased the level of welfare phone calls. More volunteers were recruited as well as new full and part-time positions to manage the increased levels of activity. At the peak of need, even the Fire Brigade assisted in delivering shopping and food parcels. Again, this year, we received additional financial support from KCC, from local authorities and from donors which enabled us to overcome the loss of income from the forced closure of our centres and the increased costs particularly in disposables and protective equipment. We are deeply grateful for this support.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
As part of its risk assessment strategy, the board has examined the Charity’s requirements for reserves in the light of the current economic situation.
The 9 months to March 2021 were the first period of activity of the new organisation. During this period the financial results showed an improvement of £103k. This was largely attributable to unrestricted activities. However, there was a transfer from Unrestricted to Restricted of £210k. to reflect a change in accounting for balances brought forward which results in Unrestricted activities showing a deficit of £101k. Total cash reserves at the end of the period were £1,001k., of which £752k was Unrestricted. The reserves policy, which was adopted subsequent to the year-end, provides that the charity will hold (Unrestricted) Reserves equivalent to 6 months of our present expenditure (£0.5m.) plus a further £0.2m.to facilitate a structured closedown after that 6 month period. The Board considers the current level of reserves meets this policy.
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Age UK South Kent Coast
Trustees' report (continued) For the period ended 31 March 2021
c. Material investments policy
The income and capital of the Trust fund shall only be applied to the promotion of the Charity’s objectives. The Trustees invest surplus funds in various secure financial institutions to maximise investment potential and provide flexibility of access so that funds are readily available when needed.
SKC has an annual income of c£980,000 from KCC contracts, CCG contracts, fund-raising, income from services provided and legacies. The annual expenditure is in the region of £1,050.000 SKC has adopted a Reserves policy which states
Our policy is to hold Reserves equivalent to 6 months of our present expenditure (£0.5m.) plus a further £0.2m.to facilitate a structured closedown after that 6 month period. This latter amount will cover
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a) Statutory redundancy costs for all its employees
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b) Up to a further 3 months of key Centre and management staff costs to enable an orderly wind-up of the affairs of the Charity and transfer of existing clients to alternative sources of help and support.
This strategy is to cover the investment of these Reserves.
Under the Constitution, the Charity may deposit or invest funds, employ a professional fund manager, and arrange for the investments or other property of the CIO to be held in the name of a nominee, in the same manner and subject to the same conditions as the Trustees of a trust are permitted to do by the Trustee Act of 2000.
The Board of SKC have delegated investment recommendations to the Finance Committee, who may seek to take advice from a Financial Advisor, with final decisions being made by the full board. Investment management is delegated to an authorised professional investment manager, regulated by the FSA.
d. Principal risks and uncertainties
The Board has identified that long-term financial sustainability is a potential risk to the Charity as it moves from Grant Funded income to contract based income. The planning for the future will concentrate on developing suitable income streams within our high-quality services and to develop new initiatives that the older person both needs and wants.
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Age UK South Kent Coast
Trustees' report (continued) For the period ended 31 March 2021
e. Financial risk management objectives and policies
Objectives
Age UK SKC’s overall investment objective adopted by the Trustees is to maintain and enhance the value of the portfolio in real terms to enable the Charity to realise its charitable objectives in the future.
Age UK SKC seeks to maximise real returns over time with a balanced approach towards capital growth and income; that is to protect the after-inflation value of the Charity’s assets whilst being in line with the Charity’s risk appetite.
The investment objective for the long-term reserves is to generate a return in excess of inflation over the long term whilst generating an income which will support on-going activities of SKC, whilst at all times ensuring that the activity avoids any risk of contravening the HMRC guidelines on trading.
The investment objective for the balance of any cash reserves is to preserve the capital value whilst achieving the best income possible but to ensure those reserves are readily available to meet unanticipated cash flow requirements. The Trustees will look to have different approach to meet the requirements for these reserves.
Attitude to risk
The trustees acknowledge that risk is part of the investment process and there are a number of risks that they will take into account. The key risk to long term reserves is inflation and the assets should be invested to mitigate this risk over the long term. The trustees understand that this is likely to mean that the capital value will fluctuate. The short term reserves are held to provide financial security and may be required at short notice. As such, capital volatility cannot be tolerated and investment of these assets should be focused on minimising this. The trustees acknowledge that they must be satisfied that the overall level of risk they are taking is right and appropriate for Age UK SKC. As part of their duty of care, the trustees will be satisfied that the overall level of risk is being taken is right for the charity and its beneficiaries.
Ethical Investment Policy
The Trustees of the charity have decided to invest ethically, accepting that the investment might provide a lower rate of return than an alternative investment. Ethical investment is intended to reflect this charity’s values and ethos and does not run counter to its aims. The charity’s Trustees will ensure that they can justify why it is in the charity’s best interests to invest in this way and to meet the legal tests i.e.
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a particular investment conflicts with the aims of the charity
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the charity might lose supporters or beneficiaries if it does not invest ethically
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there is no significant financial detriment
f. Principal funding
We have been fortunate to receive grant funding from Kent County Council and from the Clinical Commissioning Group for specific services. In addition we have in receipt of grants from Dover District Council, Folkestone and Hythe District Council, Folkestone Town Council as well as donations from various other organisations. We are very grateful for this financial help.t
g. Key Financial Performance Indicators
At the start of the financial year, the Trustees agree a budget for each of the key activities. The strategy across the budget is that the Charity avoids a loss or, at worst, breaks even across its unrestricted activities. Clearly the pandemic made the delivery of the original budget very challenging.
The Board received monthly updates on financial performance against the agreed budget. The report highlighted any significant variations from the budget and the Board agreed whatever mitigating action could be taken. In this context the extra grant support from KCC, Dover District Council, Folkestone Town Council and Collyer Ferguson was invaluable in allowing the Trustees to agree the continuation of activities without challenging the financial viability of the organisation.
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Age UK South Kent Coast
Trustees' report (continued) For the period ended 31 March 2021
Structure, governance and management
a. Constitution
Age UK South Kent Coast (Charity Number 1187363) was formed by a merger of Age UK Folkestone (Charity Number 1147752) and Age Concern Deal Centre for the Retired (Charity Number 1124073) Age UK South Kent Coast was formed on 1st April 2020 and the two charities formally merged on 18th June 2021.
Age UK South Kent Coast is a CIO governed by its Constitution adopted on 23rd July 2020
b. Methods of appointment or election of Trustees
The Trustees are those members of the Board appointed annually at the Annual General Meeting of the Charity. The Board may also co-opt other persons.
Potential new Trustees, who are considered likely to have qualities of benefit to the Charity, are provided with financial and other information about its activities. They are then invited to visit the Charity, see and discuss the activities and meet one or more of the Trustees. They are then invited to attend a meeting of the Board as an observer. After this process, the Board will decide to appoint a new trustee subject to the satisfactory completion of the necessary checks in accordance with the Charity Commission’s recommendations and to meet the governance requirements of the Charity. A prospective trustee is fully apprised of the duties of a trustee prior to appointment.
c. Organisational structure and decision-making policies
The Board meets at least bi-monthly to administer and oversee the management of the Charity. It is then required to report to interested parties at the Annual General Meeting. The Board give their time freely and receive no remuneration or other financial benefits save that of reasonable expense (notably travel) may be paid.
Day to day running of the Charity rests with Chief Executive Officer along with the Management team. The CEO is responsible for ensuring the Charity delivers the services specified for the day to day operation of the Charity, supervision of the senior team, continuous professional development of the staff, and for appraising the Board of new funding or contract opportunities.
d. Policies adopted for the induction and training of Trustees
A rolling review of all the organisation’s operational policies, procedures and training is undertaken every two years ensuring these documents continue to be developed to be more consistent and robust so improving our regulatory compliance and ability to respond to changing strategic and operational circumstances. Trustees, staff and volunteers are appropriately checked with the Disclosures and Barring Service before appointment.
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Age UK South Kent Coast
Trustees' report (continued) For the period ended 31 March 2021
Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgements and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. 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.
Disclosure of information to auditor
Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:
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so far as that Trustee is aware, there is no relevant audit information of which the charity's auditor is unaware, and
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that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity's auditor is aware of that information.
Auditor
The auditor, Kreston Reeves LLP, has indicated his willingness to continue in office. The designated Trustees will propose a motion reappointing the auditor at a meeting of the Trustees.
Approved by order of the members of the board of Trustees on 26/01/2022 and signed on their behalf by:
W E Flavell (Chair of Trustees)
I H Ward
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Age UK South Kent Coast
Independent auditor's report to the Members of Age UK South Kent Coast
Opinion
We have audited the financial statements of Age UK South Kent Coast (the 'charity') for the period ended 31 March 2021 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
In our opinion the financial statements:
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give a true and fair view of the state of the charity's affairs as at 31 March 2021 and of its incoming resources and application of resources for the period then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
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Age UK South Kent Coast
Independent auditor's report to the Members of Age UK South Kent Coast (continued)
Other information
The other information comprises the information included in the Annual report other than the financial statements and our Auditor's report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
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the information given in the Trustees' report is inconsistent in any material respect with the financial statements; or
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sufficient accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records and returns; or
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we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the Trustees' responsibilities statement, the Trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
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Age UK South Kent Coast
Independent auditor's report to the Members of Age UK South Kent Coast (continued)
Auditor's responsibilities for the audit of the financial statements
We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Capability of the audit in detecting irregularities, including fraud
Based on our understanding of the Charity and the sector as a whole, and through discussion with the Trustees and other management (as required by auditing standards), we identified that the principal risks of noncompliance with laws and regulations related to Ofsted compliance, and Safeguarding. We considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities SORP (FRS 102) Second Edition (released October 2019), the Companies Act 2006 and other relevant charity legislation. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. We evaluated Trustees' and management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks related to posting inappropriate journal entries to increase revenue or reduce expenditure. Audit procedures performed by the engagement team included:
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Discussions with management and assessment of known or suspected instances of non-compliance with laws and regulations (including health and safety) and fraud; and
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Assessment of identified fraud risk factors; and
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Challenging assumptions and judgements made by management in its significant accounting estimates; and
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Performing analytical procedures to identify any unusual or unexpected relationships, including related party
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transactions, that may indicate risks of material misstatement due to fraud; and
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Confirmation of related parties with management, and review of transactions throughout the period to identify
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any previously undisclosed transactions with related parties outside the normal course of business; and
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Reading minutes of meetings of those charged with governance; and
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Review of significant and unusual transactions; and
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Identifying and testing journal entries, in particular any manual entries made at the year end for financial statement preparation.
As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:
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Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
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Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion of the effectiveness of the charity's internal control.
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Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Trustees.
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Conclude on the appropriateness of the Trustees' use of the going concern basis of accounting and,
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Age UK South Kent Coast
Independent auditor's report to the Members of Age UK South Kent Coast (continued)
based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in my Auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of my Auditor's report. However, future events or conditions may cause the charity to cease to continue as a going concern.
- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
Use of our report
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees, as a body, for our audit work, for this report, or for the opinions we have formed.
Kreston Reeves LLP
Chartered Accountants Statutory Auditor Chatham Maritime
Date: 26/01/2022
Kreston Reeves LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.
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Age UK South Kent Coast
Statement of financial activities For the period ended 31 March 2021
| Note Income from: Donations and legacies 3 Charitable activities 4 Investments 5 Total income Expenditure on: Charitable activities 6 Total expenditure Net income/(expenditure) before net gains/(losses) on investments Net gains/(losses) on investments 11 Net income/(expenditure) Transfers between funds 17 Net movement in funds Reconciliation of funds: Total funds brought forward 17 Net movement in funds Total funds carried forward |
Unrestricted funds 9 months ended 31 March 2021 £ 25,375 424,084 13,820 463,279 356,883 356,883 106,396 2,888 109,284 (210,494) (101,210) 1,212,883 (101,210) 1,111,673 |
Restricted funds 9 months ended 31 March 2021 £ - 425,820 - 425,820 431,769 431,769 (5,949) - (5,949) 210,494 204,545 135,653 204,545 340,198 |
Total funds 9 months ended 31 March 2021 £ 25,375 849,904 13,820 889,099 788,652 788,652 100,447 2,888 103,335 - 103,335 1,348,536 103,335 1,451,871 |
Total funds 15 months ended 30 June 2020 £ 199,616 1,304,957 55,928 |
|---|---|---|---|---|
| 1,560,501 1,430,593 |
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| 1,430,593 129,908 (3,887) |
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| 126,021 - |
||||
| 126,021 1,222,515 126,021 |
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| 1,348,536 |
The Statement of financial activities includes all gains and losses recognised in the period.
The notes on pages 18 to 37 form part of these financial statements.
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Age UK South Kent Coast
Balance sheet As at 31 March 2021
| Note Fixed assets Tangible assets 10 Investments 11 Current assets Stocks 12 Debtors 13 Investments 14 Cash at bank and in hand Creditors: amounts falling due within one year 15 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 16 Total net assets Charity funds Restricted funds 17 Unrestricted funds 17 Total funds |
2,963 31,300 232,938 753,408 1,020,609 (19,876) |
31 March 2021 £ 469,485 22,086 491,571 1,000,733 1,492,304 (40,433) 1,451,871 340,198 1,111,673 1,451,871 |
2,750 75,598 232,930 644,255 955,533 (69,353) |
30 June 2020 £ 485,612 19,198 |
|---|---|---|---|---|
| 504,810 886,180 |
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| 1,390,990 (42,454) |
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| 1,348,536 135,653 1,212,883 |
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| 1,348,536 |
The financial statements were approved and authorised for issue by the Trustees on 26/01/2022 andsigned on their behalf by:
W E Flavell
I H Ward
(Chair of Trustees)
The notes on pages 18 to 37 form part of these financial statements.
Page 16
Age UK South Kent Coast
Statement of cash flows For the period ended 31 March 2021
| Cash flows from operating activities Net cash used in operating activities Cash flows from investing activities Dividends, interests and rents from investments Net cash provided by investing activities Cash flows from financing activities Net cash provided by financing activities Change in cash and cash equivalents in the period Cash and cash equivalents at the beginning of the period Cash and cash equivalents at the end of the period The notes on pages 18 to 37 form part of these financial statements |
9 months ended 31 March 2021 £ 95,333 13,820 13,820 - 109,153 644,255 753,408 |
15 months ended 30 June 2020 £ 227,854 |
|---|---|---|
| 3,169 | ||
| 3,169 | ||
| - | ||
| 231,023 413,232 |
||
| 644,255 |
Page 17
Age UK South Kent Coast
Notes to the financial statements For the period ended 31 March 2021
1. General information
Age UK South Kent Coast is a charitable incorporated organisation, limited by guarantee, incorporated in England and Wales.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Age UK South Kent Coast meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Going concern
The financial statements have been prepared on a going concern basis. While the impact of the Covid-19 virus has been assessed by the Trustees, so far as resonable possible, due to its unprecedented impact on the wider economy, it is difficult to evaluate with any certainty the potential outcomes on the charity's trade, its customers and suppliers. However, taking into consideration the UK Government's response and the charity's planning, the Trustees have a reasonable expectation that the Charity will continue in operational existences for the foreseeable future.
Page 18
Age UK South Kent Coast
Notes to the financial statements For the period ended 31 March 2021
2. Accounting policies (continued)
2.3 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold.
Where the donated good is a fixed asset, it is measured at fair value, unless it is impractical to measure this reliably, in which case the cost of the item to the donor should be used. The gain is recognised as income from donations and a corresponding amount is included in the appropriate fixed asset class and depreciated over the useful economic life in accordance with the Charity's accounting policies.
On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the Charity which is the amount it would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
Page 19
Age UK South Kent Coast
Notes to the financial statements For the period ended 31 March 2021
2. Accounting policies (continued)
2.5 Government grants
Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of financial activities over the expected useful lives of the assets concerned. Other grants are credited to the Statement of financial activities as the related expenditure is incurred.
2.6 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
2.7 Tangible fixed assets and depreciation
Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .
Depreciation is provided on the following bases:
- Freehold property 2% straight line - Long-term leasehold property Straight line over remaining lease term Motor vehicles - 25% reducing balance - Fixtures and fittings 10 - 25% straight line
2.8 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.
2.9 Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.10 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.11 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Page 20
Age UK South Kent Coast
Notes to the financial statements For the period ended 31 March 2021
2. Accounting policies (continued)
2.12 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
2.13 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.14 Pensions
The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the period.
2.15 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
Page 21
Age UK South Kent Coast
Notes to the financial statements For the period ended 31 March 2021
3. Income from donations and legacies
| Donations Government grants Total 2020 |
Unrestricted funds 9 months ended 31 March 2021 £ 7,673 17,702 25,375 198,716 |
Restricted funds 9 months ended 31 March 2021 £ - - - 900 |
Total funds 9 months ended 31 March 2021 £ 7,673 17,702 25,375 199,616 |
Total funds 15 months ended 30 June 2020 £ 21,044 178,572 |
|---|---|---|---|---|
| 199,616 | ||||
4. Income from charitable activities
| Kitchen Sales Dementia Services Independent Living Services Care Sales Other Income Grants Contract Income Total 2020 |
Unrestricted funds 9 months ended 31 March 2021 £ 238,554 700 6,665 15,973 21,345 140,847 - 424,084 1,304,957 |
Restricted funds 9 months ended 31 March 2021 £ - - - - - 198,494 227,326 425,820 - |
Total funds 9 months ended 31 March 2021 £ 238,554 700 6,665 15,973 21,345 339,341 227,326 849,904 1,304,957 |
Total funds 15 months ended 30 June 2020 £ 360,900 28,279 51,237 40,411 72,139 380,217 371,774 |
|---|---|---|---|---|
| 1,304,957 | ||||
Page 22
Age UK South Kent Coast
Notes to the financial statements For the period ended 31 March 2021
5. Investment income
| Rental income Income from listed investments Bank interest Total 2020 |
Unrestricted funds 9 months ended 31 March 2021 £ 9,500 682 3,638 13,820 55,928 |
Total funds 9 months ended 31 March 2021 £ 9,500 682 3,638 13,820 55,928 |
Total funds 15 months ended 30 June 2020 £ 37,879 18,049 - |
|---|---|---|---|
| 55,928 | |||
6. Analysis of expenditure on charitable activities
Summary by fund type
| Charitable Activities Total 2020 |
Unrestricted funds 9 months ended 31 March 2021 £ 356,883 1,344,554 |
Restricted funds 9 months ended 31 March 2021 £ 431,769 86,039 |
Total funds 9 months ended 31 March 2021 £ 788,652 1,430,593 |
Total funds 15 months ended 30 June 2020 £ 1,430,593 |
|---|---|---|---|---|
Summary by expenditure type
| Charitable Activities Total 2020 |
Staff costs 9 months ended 31 March 2021 £ 540,229 888,556 |
Depreciation 9 months ended 31 March 2021 £ 16,127 75,375 |
Other costs 9 months ended 31 March 2021 £ 232,296 466,662 |
Total funds 9 months ended 31 March 2021 £ 788,652 1,430,593 |
Tota funds 15 months ended 30 June 2020 £ 1,430,593 |
|---|---|---|---|---|---|
Page 23
Age UK South Kent Coast
Notes to the financial statements For the period ended 31 March 2021
7. Analysis of expenditure by activities
| Charitable Activities Total 2020 |
Activities undertaken directly 9 months ended 31 March 2021 £ 529,966 854,223 |
Support costs 9 months ended 31 March 2021 £ 258,686 576,370 |
Total funds 9 months ended 31 March 2021 £ 788,652 1,430,593 |
Total funds 15 months ended 30 June 2020 £ 1,430,593 |
|---|---|---|---|---|
Analysis of direct costs
| Staff costs Travel and subsistence Centre Services and Activities Meals Hire of Premises Total 2020 |
Activities 9 months ended 31 March 2021 £ 413,687 10,700 15,817 89,762 - 529,966 854,223 |
Total funds 9 months ended 31 March 2021 £ 413,687 10,700 15,817 89,762 - 529,966 854,223 |
Total funds 15 months ended 30 June 2020 £ 674,136 12,900 39,914 126,027 1,246 |
|---|---|---|---|
| 854,223 | |||
Page 24
Age UK South Kent Coast
Notes to the financial statements For the period ended 31 March 2021
7. Analysis of expenditure by activities (continued)
Analysis of support costs
| Staff costs Depreciation Staff training, Recruitment and expenses Travel and subsistence Light, Heat and Power Telephone and Fax Cleaning and waste Repairs and Maintenance Bank charges Subscriptions and Licences Insurance PPS and Advertising Payroll and Professional Fees Rent and Rates ICT Support and Equipment Motor Expenses Sundry Bad Debt (Profit)/Loss on Disposal of Assets Total 2020 8. Staff costs Wages and salaries Social security costs Contribution to defined contribution pension schemes |
Activities 9 months ended 31 March 2021 £ 126,542 16,127 3,952 5,340 20,674 6,657 9,270 19,941 2,208 3,507 9,669 4,999 4,937 - 12,674 - 12,204 985 (1,000) 258,686 576,370 |
Total funds 9 months ended 31 March 2021 £ 126,542 16,127 3,952 5,340 20,674 6,657 9,270 19,941 2,208 3,507 9,669 4,999 4,937 - 12,674 - 12,204 985 (1,000) 258,686 576,370 9 months ended 31 March 2021 £ 499,384 31,995 8,850 540,229 |
Total funds 15 months ended 30 June 2020 £ 214,420 75,375 41,397 32,802 24,172 11,388 22,878 20,050 5,047 7,911 13,754 9,189 23,057 2,315 37,439 2,177 1,380 6,353 25,266 |
|---|---|---|---|
| 576,370 | |||
| 15 months ended 30 June 2020 £ 843,705 21,197 23,654 |
|||
| 888,556 |
Page 25
Age UK South Kent Coast
Notes to the financial statements For the period ended 31 March 2021
8. Staff costs (continued)
The average number of persons employed by the Charity during the period was as follows:
| Employees The average headcount expressed as full-time equivalents was: Employees |
9 months ended 31 March 2021 No. 41 9 months ended 31 March 2021 No. 33 |
15 months ended 30 June 2020 No. 46 |
|---|---|---|
| 15 months ended 30 June 2020 No. 37 |
No employee received remuneration amounting to more than £60,000 in either year.
During the current 9 month period remuneration and benefits received by the charity's key management personnel amounted to £73,932 (2020: 15 month period £145,649) including employer's national insurance contributions of £6,025 (2020: 15 month period £12,411).
9. Trustees' remuneration and expenses
During the period, no Trustees received any remuneration or other benefits (2020 - £NIL).
During the period ended 31 March 2021, no Trustee expenses have been incurred (2020 - £NIL).
Page 26
Age UK South Kent Coast
Notes to the financial statements For the period ended 31 March 2021
10. Tangible fixed assets
| Cost or valuation At 1 July 2020 At 31 March 2021 Depreciation At 1 July 2020 Charge for the period At 31 March 2021 Net book value At 31 March 2021 At 30 June 2020 |
Freehold property £ 410,127 410,127 157,593 6,152 163,745 246,382 252,534 |
Long-term leasehold property £ 400,392 400,392 173,478 8,510 181,988 218,404 226,914 |
Fixtures and fittings £ 49,960 49,960 43,796 1,465 45,261 4,699 6,164 |
Total £ 860,479 |
|---|---|---|---|---|
| 860,479 | ||||
| 374,867 16,127 |
||||
| 390,994 | ||||
| 469,485 485,612 |
11. Fixed asset investments
| Cost or valuation At 1 July 2020 Revaluations At 31 March 2021 Net book value At 31 March 2021 At 30 June 2020 |
Listed investments £ 19,198 2,888 |
|---|---|
| 22,086 22,086 |
|
| 19,198 |
Page 27
Age UK South Kent Coast
Notes to the financial statements For the period ended 31 March 2021
| 12. Stocks Finished goods and goods for resale 13. Debtors Due within one year Trade debtors Other debtors Prepayments and accrued income 14. Current asset investments Unlisted investments and deposits |
31 March 2021 £ 2,963 31 March 2021 £ 19,684 - 11,616 31,300 31 March 2021 £ 232,938 |
30 June 2020 £ 2,750 |
|---|---|---|
| 30 June 2020 £ 24,353 28,591 22,654 |
||
| 75,598 | ||
| 30 June 2020 £ 232,930 |
Page 28
Age UK South Kent Coast
Notes to the financial statements For the period ended 31 March 2021
15. Creditors: Amounts falling due within one year
| Trade creditors Other creditors Accruals and deferred income Deferred income at 1 July 2020 Amounts released from previous periods Creditors: Amounts falling due after more than one year Accruals and deferred income |
31 March 2021 £ 13,089 2,410 4,377 19,876 31 March 2021 £ 45,149 (2,021) 43,128 31 March 2021 £ 40,433 |
30 June 2020 £ 29,344 - 40,009 |
|---|---|---|
| 69,353 30 June 2020 £ 48,518 (3,369) |
||
| 45,149 30 June 2020 £ 42,454 |
16. Creditors: Amounts falling due after more than one year
Page 29
Age UK South Kent Coast
Notes to the financial statements For the period ended 31 March 2021
17. Statement of funds
Statement of funds - current period
| Unrestricted funds Designated funds Independent Living Service Property Fund The Centre including Staff and the Garden Advocacy Food Poverty Maintenance Reserve General funds Day Care Fund Unrestricted Income Fund Total Unrestricted funds Restricted funds Centre Works Fund NHS SKC Care Navigator KCC Care Navigator Development Reserve Laundry Facilities |
Balance at 1 July 2020 £ 11,615 180,738 2,875 210,494 - 15,176 420,898 35,108 756,877 791,985 1,212,883 46,176 - - 67,526 500 |
Income £ - - 1,050 - 3,770 - 4,820 - 458,459 458,459 463,279 - 147,000 80,326 - - |
Expenditure £ - - (3,925) - - - (3,925) (1,572) (351,386) (352,958) (356,883) (2,222) (147,000) (80,326) (1,287) (500) |
Transfers in/out £ - 140,319 - (210,494) - - (70,175) - (140,319) (140,319) (210,494) - - - - - |
Gains/ (Losses) £ - - - - - - - - 2,888 2,888 2,888 - - - - - |
Balance at 31 March 2021 £ 11,615 321,057 - - 3,770 15,176 |
|---|---|---|---|---|---|---|
| 351,618 | ||||||
| 33,536 726,519 |
||||||
| 760,055 | ||||||
| 1,111,673 | ||||||
| 43,954 - - 66,239 - |
Page 30
Age UK South Kent Coast
Notes to the financial statements For the period ended 31 March 2021
17. Statement of funds (continued)
Statement of funds - current period (continued)
| Personalised Integrated Care - SKC Personalised Integrated Care - Age UK Chair-Based Executive Programmes Signage Marigold Garden KCC Core grant Advocacy Total of funds |
Balance at 1 July 2020 £ 10,335 10,336 500 200 80 - - 135,653 1,348,536 |
Income £ - - - - - 159,180 39,314 425,820 889,099 |
Expenditure £ (5,890) (5,891) (500) (200) (80) (159,180) (28,693) (431,769) (788,652) |
Transfers in/out £ - - - - - - 210,494 210,494 - |
Gains/ (Losses) £ - - - - - - - - 2,888 |
Balance at 31 March 2021 £ 4,445 4,445 - - - - 221,115 |
|---|---|---|---|---|---|---|
| 340,198 | ||||||
| 1,451,871 |
Page 31
Age UK South Kent Coast
Notes to the financial statements For the period ended 31 March 2021
17. Statement of funds (continued)
Independent Living Service- This is the residue of an allocation of the monies received from the Lucy Barton Bequest. This is to cover any potential future shortfalls in the Independent Living Service.
Property Fund- This fund represents the value of land and buildings included in tangible fixed assets, less the balance held in the restricted Centre Works Fund.
The Centre including Staff and the Garden- The balance of a series of donations to support the work of the Deal centre and in particular for the benefit of staff and the maintenance of the garden. It is a fund for the purpose of the charity obtaining assets for the Centre, Depreciation is charged to this fund on an annual basis.
Advocacy- This fund received the grant from KCC and meets the costs attributable to the provision of this service. The balance represents the amounts still to be committed but it has now been classified as a Restricted Fund (see below).
Food Poverty- Donations received which are to be deployed in relief of food poverty often by the provision of meals.
Maintenance Reserve- The maintenance reserve is designated for future capital expenditure and property maintenance and for future replacement of minibuses.
Day Care Fund- This fund is held to meet the future depreciation on building works.
Centre Works Fund (Restricted)- This fund is held for the development of the Centre.
NHS SKC Care Navigator (Restricted)- This the Fund through which the income from the NHS to provide the Care Navigator service is received and deployed in the delivery of that service.
KCC Care Navigator (restricted)- This the Fund through which the income from KCC to provide the Care Navigator service is received and deployed in the delivery of that service.
Development Reserve (restricted) - This represents legacies and donations specifically pledged for the development of the site at Shaftesbury Avenue
Laundry Facilities (restricted) - This represents a donation received from the Ronald Cruickshank's Foundation towards the cost of purchasing laundry facilities.
Personalised Integrated Care - SKC (restricted) - This is a grant awarded to the Charity to implement a new and innovative model of services which is to be developed with the aim of reducing the risk of and preventing vulnerable older people being admitted into hospital. This grant was awarded in collaboration with Age UK.
Personalised Integrated Care - Age UK (restricted) - This is a grant awarded to the Charity to implement a new and innovative model of services which is to be developed with the aim of reducing the risk of and preventing vulnerable older people being admitted into hospital. This grant was awarded in collaboration with SKC CCG..
Chair-Based Executives Programmes (restricted) - This is a grant awarded by Folkestone and Hythe District Council for a study to assess the impact of chair bases exercises.
Signage (restricted) - A restricted donation received for signage.
Marigold Garden (restricted) - This was a donation made to the charity to use in The Centre's garden.
KCC Core Grant (restricted)- This the Fund through which the income from the KCC to provide the core care service is included and deployed in the delivery of that service.
Advocacy (restricted)- This fund received the grant from KCC and meets the continuing costs attributable Page 32
Age UK South Kent Coast
Notes to the financial statements For the period ended 31 March 2021
17. Statement of funds (continued)
to the provision of this service.
Statement of funds - prior period
| Unrestricted funds Designated funds Independent Living Service Property Fund The Centre including Staff and the Garden Advocacy Catering including Meal Delivery Service Maintenance Reserve COVID-19 Dementia Support including the Norman Wisdom Suite General funds Day Care Fund Unrestricted Income Fund COVID-19 Total Unrestricted funds |
Balance at 1 April 2019 £ 12,358 - 2,875 - - 15,056 - - 30,289 - 738,839 - 738,839 769,128 |
Income £ 41,999 - - 67,553 2,000 120 14,500 261 126,433 - 1,133,124 7,000 1,140,124 1,266,557 |
Expenditure £ (42,742) - - (50,806) (2,000) - (14,500) (261) (110,309) (12,326) (952,151) (7,000) (971,477) (1,081,786) |
Transfers in/out £ - 180,738 - 193,747 - - - - 374,485 47,434 (159,048) - (111,614) 262,871 |
Gains/ (Losses) £ - - - - - - - - - - (3,887) - (3,887) (3,887) |
Balance at 30 June 2020 £ 11,615 180,738 2,875 210,494 - 15,176 - - |
|---|---|---|---|---|---|---|
| 420,898 | ||||||
| 35,108 756,877 - |
||||||
| 791,985 | ||||||
| 1,212,883 |
Page 33
Age UK South Kent Coast
Notes to the financial statements For the period ended 31 March 2021
17. Statement of funds (continued)
| Restricted funds Centre Works Fund NHS SKC Care Navigator KCC Care Navigator Development Reserve Laundry Facilities Personalised Integrated Care - SKC Personalised Integrated Care - Age UK Chair-Based Executive Programmes Signage Marigold Garden Advocacy Day Care Fund South Kent Coast Independent Care Programme Dementia including NWS COVID-19 Information and Advice Total of funds |
49,622 - - 71,088 656 11,304 11,304 500 200 - 193,747 47,434 23,627 - - - 409,482 1,178,610 |
- 237,897 133,877 - - - - - - 80 - - - 900 2,061 15,887 390,702 1,657,259 |
(3,446) (237,897) (133,877) (3,562) (156) (969) (968) - - - - - (1,937) (900) (2,061) (15,887) (401,660) (1,483,446) |
- - - - - - - - - - (193,747) (47,434) (21,690) - - - (262,871) - |
- - - - - - - - - - - - - - - - - (3,887) |
46,176 - - 67,526 500 10,335 10,336 500 200 80 - - - - - - |
|---|---|---|---|---|---|---|
| 135,653 | ||||||
| 1,348,536 |
Page 34
Age UK South Kent Coast
Notes to the financial statements For the period ended 31 March 2021
18. Summary of funds
Summary of funds - current period
| Balance at | ||||||
|---|---|---|---|---|---|---|
| Balance at 1 | Transfers | Gains/ | 31 March | |||
| July 2020 | Income | Expenditure | in/out | (Losses) | 2021 | |
| £ | £ | £ | £ | £ | £ | |
| Designated | ||||||
| funds | 420,898 | 4,820 | (3,925) | (70,175) | - | 351,618 |
| General funds | 791,985 | 458,459 | (352,958) | (140,319) | 2,888 | 760,055 |
| Restricted funds | 135,653 | 425,820 | (431,769) | 210,494 | - | 340,198 |
| 1,348,536 | 889,099 | (788,652) | - | 2,888 | 1,451,871 | |
| Summary of funds - prior period | ||||||
| Balance at | ||||||
| Balance at | Transfers | Gains/ | 30 June | |||
| 1 April 2019 | Income | Expenditure | in/out | (Losses) | 2020 | |
| £ | £ | £ | £ | £ | £ | |
| Designated | ||||||
| funds | 30,289 | 126,433 | (110,309) | 374,485 | - | 420,898 |
| General funds | 738,839 | 1,140,124 | (971,477) | (111,614) | (3,887) | 791,985 |
| Restricted funds | 409,482 | 390,702 | (401,660) | (262,871) | - | 135,653 |
| 1,178,610 | 1,657,259 | (1,483,446) | - | (3,887) | 1,348,536 | |
19. Analysis of net assets between funds
Analysis of net assets between funds - current period
| Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Total |
Unrestricted funds 31 March 2021 £ 359,292 22,086 790,604 (60,309) 1,111,673 |
Restricted funds 31 March 2021 £ 110,193 - 230,005 - 340,198 |
Total funds 31 March 2021 £ 469,485 22,086 1,020,609 (60,309) |
|---|---|---|---|
| 1,451,871 |
Page 35
Age UK South Kent Coast
Notes to the financial statements For the period ended 31 March 2021
19. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior period
| Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Creditors due in more than one year Total |
Unrestricted funds 30 June 2020 £ 371,042 19,198 934,450 (69,353) (42,454) 1,212,883 |
Restricted funds 30 June 2020 £ 114,570 - 21,083 - - 135,653 |
Total funds 30 June 2020 £ 485,612 19,198 955,533 (69,353) (42,454) |
|---|---|---|---|
| 1,348,536 |
20. Reconciliation of net movement in funds to net cash flow from operating activities
| Net income for the period (as per Statement of Financial Activities) Adjustments for: Depreciation charges (Increase)/decrease in current investments Gains/(losses) on investments Dividends, interests and rents from investments Loss on the sale of fixed assets Increase in stocks Decrease/(increase) in debtors Increase/(decrease) in creditors Net cash provided by operating activities |
9 months ended 31 March 15 months ended 30 June 2021 2020 £ £ 103,335 126,021 16,127 75,375 (8) (165) (2,888) 3,887 (13,820) (3,169) - 25,266 (213) (38) 44,298 (24,778) (51,498) 25,455 95,333 227,854 |
9 months ended 31 March 15 months ended 30 June 2021 2020 £ £ 103,335 126,021 16,127 75,375 (8) (165) (2,888) 3,887 (13,820) (3,169) - 25,266 (213) (38) 44,298 (24,778) (51,498) 25,455 95,333 227,854 |
|---|---|---|
| 227,854 |
| 21. Analysis of cash and cash equivalents Cash in hand Total cash and cash equivalents |
31 March 2021 £ 753,408 753,408 |
30 June 2020 £ 644,255 |
|---|---|---|
| 644,255 |
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Age UK South Kent Coast
Notes to the financial statements For the period ended 31 March 2021
22. Analysis of changes in net debt
| Cash at bank and in hand Liquid investments |
At 1 July 2020 £ 644,255 232,930 877,185 |
Cash flows £ 109,153 8 109,161 |
At 31 March 2021 £ 753,408 232,938 |
|---|---|---|---|
| 986,346 |
23. Pension commitments
The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the Charity to the fund and amounted to £8,850 (2020 - £13,916) Contributions totalling £Nil (2020 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.
24. Related Party Transactions
During the year B Manley's (Trustee) consultancy company Kent HR was paid for consultancy services totalling £788. There were no balances outstanding at year end. There have been no further related party transactions during the financial year, and no balances existed at year end with any related parties.
25. Operating lease commitments
At 31 March 2021 the Charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:
| Not later than 1 year Later than 1 year and not later than 5 years Later than 5 years |
31 March 2021 £ 916 916 - 1,832 |
30 June 2020 £ 916 916 687 |
|---|---|---|
| 2,519 |
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