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2024-03-31-accounts

Charity number: 1187363

Age UK South Kent Coast

Trustees' report and financial statements For the year ended 31 March 2024

Age UK South Kent Coast

Contents

Page
Reference and administrative details of the Charity, its Trustees and advisers 1
Chairman's statement 2
Trustees' report 3 - 7
Independent auditors' report on the financial statements 8 - 11
Statement of financial activities 12
Balance sheet 13
Statement of cash flows 14
Notes to the financial statements 15 - 33

Age UK South Kent Coast

Reference and administrative details of the Charity, its Trustees and advisers For the year ended 31 March 2024

Trustees W E Flavell
T Scott
Dr W J Madgwick (resigned 30 November 2023)
H A Barker
J K Andrews
G Calver (appointed 27 September 2023)
M Simmonds (appointed 27 September 2023)
G Robinson (appointed 25 July 2023)
Charity registered
number
1187363
Principal office
3 Park Street
Deal
Kent
CT14 6AG
Independent auditors
Kreston Reeves LLP
Chartered Accountants
Montague Place
Quayside
Chatham Maritime
Chatham
Kent
ME4 4QU
Bankers
HSBC
41 Sandgate Road
Folkestone
Kent
CT20 1SA
Financial Advisors
Financial Advice & Services Ltd
Sterling House
Concept Court
Shearway Business Park
Folkestone
Kent
CT19 4RG

Page 1

Age UK South K•nt Coast Chairrnan's statement For the year end￿ 31 March 2024 Welcome tr) the Annual Report for UK ScKrth Kent Coast for a year that has been extremety busy a5 more people require OUT assistan￿ or advice. We Continu￿ lo see issues for many of the elderly INing in Folkeslone, Dover and Deal wrth continued high inflation reflected in high energy costs, increasing food costs and in general living expenses. Again we were able to offer designated wam spaces providing free hot drinks, redU￿d pri￿ hot meals and a friendly environment where clients could keep wami all day. The Meal DelNery serv￿ experienced an incr8ase in demand as our ustomers apP[￿lated OUT friendly stsff and volunteers bringing their hot meal and ched(ing on their well-being. Our progr8mme of activities ¢onb"nues lo grow with the aim of providing inteTesbng and stimulating activities both in-centre and in the Communrty aiming lo improve the health and wellness of partieipants. The future conlinues to look challenging with continued ￿$1 pressures for both elienls and the Charity. We know that Kent County Council is having to carefully reMew its bLbdgel and there is continued uncertainly over contracts that we hold wrth thern that we believe are so important to maintain the health and well-being of the elderly in our area. We have made a loss in this financial year as increased demand for help and inGreased costs. particularly wage Gosls, affect our performan￿. This was not unexpected and was broadty in line with expectations. However we are bLJdgeting lo make a loss in the coming year and. whiL8t we are able to ffinance these losses through reseNes, it cannot be sustainable and we are looking at a variety of options to endeavour lo baL8nce our book5 in the future. The Board of Trustees join with me in expressing their sincere thanks lo otjr Chief Executive, Debbie Barry and her deputy, Rebecca McGuinne5s Cane and the wonderful staff and volunteers 811 of whom work so hard to ensure we deliver our services with a caring smile. WEF Chairman Dale.. 2olk P¥2

Age UK South Kent Coast

Trustees' report For the year ended 31 March 2024

The Trustees present their annual report together with the audited financial statements of the Charity for the 1 April 2023 to 31 March 2024.

Objectives and activities

a. Policies and objectives

Our Charities purpose, as set out in the Company’s Memorandum of Association, are 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:

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

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.

c. Activities undertaken to achieve objectives

Our main objective has 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.

Our contracts with Kent County Council and Kent and Medway NHS Trust are aimed at keeping individuals fit and healthy in both body and mind with a wide variety of interesting activities.

We worked in partnership with, Age UK National and local Age UK centres plus other local agencies and health/social care professionals to ensure the widest range of services.

Both our Centres were designated Warm Hubs during the Winter Months giving individuals the opportunity of spending the day in warm surroundings with free hot drinks and reduced-price hot meals thanks to Grants from both Dover District Council and Folkestone and Hythe District Council.

The Charity has further consolidated links this year with senior commissioners and providers within the East Kent Hospital Foundation Trust, 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.

Page 3

Age UK South Kent Coast

Trustees' report (continued) For the year ended 31 March 2024

Objectives and activities (continued)

d. Social investment policies

e. Staff and Volunteers

As always, 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 120 hours per week which is worth over £70,000 to the Charity. We are truly indebted to them all.

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

We continued to provide our vital health and well-being services, assisting clients to claim various benefits and entitlements which enabled them to maximise their income and live more comfortably. And our Meal Delivery Service has enabled those receiving the freshly cooked, nutritious meal to remain independent in their own home with a friendly face keeping a watchful eye on them.

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 over 46,000 hot nutritious meals to our clients’ homes in addition to some 7,440 In Centre Meals. We also provided more than 3,500 warm drinks as part of the Warm Hub programmes. Our Keep in Touch phone programme made over 550 phone calls to clients who otherwise might not speak to anyone for days.

Our Information and Advice since April 2023 have supported 0ver 9.400 individuals to have their income maximised by Attendance allowance and benefits, they are entitled to claim such as pension credits, Blue badge applications and a variety of inquiries relating to worries about Power of Attorney, housing and debt. This is substantially more than previous years. We estimate we have helped our clients to claim over £450,000 in benefits and allowances.

Delivering Wellbeing activities is one of our core activities in reducing isolation and improving mental and physical health. Activities that are currently run include:

Singing workshops Latin Dance Yoga
 Wine Tasting
Various Art classes Men’s Shed Community Garden Club Crafting
Boccia
 Indoor Cricket Walking Netball Walking
Digital inclusion Crafts Club Sparks Fly Social Club
Cricket Fishing
 Walks
And many more

Page 4

Age UK South Kent Coast

Trustees' report (continued) For the year ended 31 March 2024

Achievements and performance (continued)

Financial review

a. Going concern

Although Age UK South Kent Coast made a loss in 2023 – 24 due to the continued high inflation, high pay awards to the National Living Wage and general higher operational costs, the trustees have a reasonable expectation that Age UK South Kent Coast has adequate resources and reserves to continue in operation for the foreseeable future.

We are informed that both the Well Being Contract and the Community Navigator contract with Kent County Council will be maintained until March 31st 2025 which allows time to plan for the inevitable change in the services we can offer.

Changes within the structure and practices of the charity are already being introduced to maximise any savings available and discussions are continuing to take place to look at the opportunities after the end of these two major contracts.

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 Board has established a policy whereby the reserves of the Charity need to be sufficient to ensure the orderly closure of the Charity should this be necessary. Our reserves policy is that we should hold reserves to cover 3 months expenditure to allow for a structured closure if that becomes necessary - so a reserves figure of £365,000 based on 2023/24 expenditure. We have reserves in excess of this figure as we envisage a further loss in the coming year as the charity's income is reduced.The Board considers the current level of reserves meets this policy. Whilst there is an expectation for the Charity to produce a loss in the year 2024/25, economies and efficiencies have already been introduced and the expectation is that the loss will be substantially less than in 2023/24 so the Reserves Policy level will not be breached.

c. Investment Policy and Performance

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. We have appointed FAS Ltd (accredited financial advisers) to advise on our investment with the aim of maintain and increasing the capital value of the investment and also providing some extra income through dividends. The board receive regular updates on the performance of the portfolio.

d. Key Financial Performace Indicators

At the start of the financial year, the Trustees agree a budget for each of the key activities. It was accepted that, due to the exceptional financial difficulties, the overall budget expected a significant loss and whilst some areas improved on their performance, others especially salaries exceeded budget.

The Board receives monthly updates on financial performance against the agreed budget. The report highlights any significant variations from the budget and the Board agrees whatever mitigating action should be taken. In this context the extra grant support from Age UK, Dover District Council, Folkestone and Hythe District Council was invaluable in allowing the Trustees to agree the continuation of activities without challenging the financial viability of the organisation.

Page 5

Age UK South Kent Coast

Trustees' report (continued) For the year ended 31 March 2024

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

A scheme of delegation is in place and all day to day responsibility for the provision of services and effective running of Age UK South Kent Coast rest with the Chief Executive Officer and Deputy along with the Catering and Financial management. We work closely 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.

We work in partnership with Social Enterprise Kent and other Age UK Centres in East Kent to provide the Community Care Navigation service since 2019. Since April 2023 to March 2024, our team of Community Navigators have supported over 1200 vulnerable older people with signposting to other services and enabling access to local services and activities, to improve their health, wellbeing and independence

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.

e. Activities undertaken to Achieve Objectives

The financial crisis and, to a lesser extent, 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 support 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 Universal 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 commenced on 1st April 2021.

Page 6

Ago UK South Kent Coast Trustees. report (continu￿) For tho year ended 31 March 2024 structure. govemance and management {contlnued) We worked in partnership with South Kent Commissioning Group, Age UK National and local Age UK ¢entres plus other local agenctes and healthlsocrdl care Profe￿onalS to ensure the widest range of Servi￿$. Dementia Outreach". Our designated Dementia outreach worker continued to prowde support lo individuals and carers in what was a very drfficull and distressing time for 811 Con￿rned. Statsment of Tru8tees' responsibilities The Trustees are responsib￿ for prgparing the Trustees, report and the financial statement5 in accordance with applicable law and Unrted lQ"ngdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practi￿1. The law applicable to charities in England & Wales requires the Twstees lo prepare financial statements for each financial which give a ITue and fair view of the state of affair5 of the Charity and of its incoming resources and application of resour￿5, including its and expenditure, for that period. In preparing these financial stat&menls, the Trustees are required to-. select sui18ble accounting policies and then appfy them consistentl￿. observe the methods and principles of the Charit￿$ SORP IFRS 1021.. make judgments and accounting estimates that are reasonable and prudent". state whether applicable UK Accounting Standards IFRS 1021 have been followed, subj'ect to any material departures dis¢losed and explained in the financial statements", prepar6 the financial statements on the going ¢on¢em basis unless it is inappropriate lo 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 Charitys transactions and disclose with reasonable accuracy al any lime the finanoal Fosrtion of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity IAccounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also fesponsible for safeguarding the assets of the Charty and hence for taking reasonable steps for the pievenlion and detection of fraud and other irregularities. Disclosure of inforniatlon to auditors Each of the persons who are Trustees at the time when this Trustees. report is approved has confirmed that.. so far as that Trustee is aware. there is no relevant audrt information of which the charity's auditors a unaware, and that Trustee has taken all the steps that ought to have been taken as a Trustee in orfer to be awa￿ of any relevant audit informalion and to establish that the charity's auditors are aware of that infomiation. Auditors The auditors, Kreston Reeves LLP, have indicated Iheir willingness to continue in office. The designated Trustees will propose a motson reappointsng the auditors at a ￿￿tIng of the Trustees. Approved by order of the members of the board of Trustees on t48nd signed on their behalf by.. WEFI P*Je 7

Age UK South Kent Coast

Independent auditors' 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 year ended 31 March 2024 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).

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:

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 Auditors' 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.

Page 8

Age UK South Kent Coast

Independent auditors' 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 Auditors' 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:

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.

Page 9

Age UK South Kent Coast

Independent auditors' report to the Members of Age UK South Kent Coast (continued)

Auditors' responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 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 Auditors' 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 health and safety, employment law, 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:

Page 10

Age UK South Kent Coast

Independent auditors' report to the Members of Age UK South Kent Coast (continued)

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

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 Auditors' 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: 5 November 2024

Kreston Reeves LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

Page 11

Age UK South Kent Coast

Statement of financial activities For the year ended 31 March 2024

Note
Income from:
Donations and legacies
3
Charitable activities
4
Investments
5
Total income
Expenditure on:
Charitable activities
6
Total expenditure
Net (expenditure)/income before net
losses on investments
Net losses on investments
Net (expenditure)/income
Transfers between funds
18
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Restricted
funds
2024
£
52
628,616
-
628,668
714,766
714,766
(86,098)
-
(86,098)
(313,297)
(399,395)
498,709
(399,395)
99,314		 Unrestricted
funds
2024
£
9,862
622,665
96,596
729,123
741,645
741,645
(12,522)
-
(12,522)
313,297
300,775
967,050
300,775
1,267,825		 Total
funds
2024
£
9,914
1,251,281
96,596
1,357,791
1,456,411
1,456,411
(98,620)
-
(98,620)
-
(98,620)
1,465,759
(98,620)
1,367,139		 Total
funds
2023
£
17,651
1,214,507
33,733
1,265,891
1,232,855
1,232,855
33,036
(1,448)
31,588
-
31,588
1,434,171
31,588
1,465,759

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 15 to 33 form part of these financial statements.

Page 12

Age UK South Kent Coa8t Balance sheet As at 31 March 2024 2024 2023 P4ot• Fixed assets Tangible assets Investments 428,373 565,450 452,455 172,248 12 993,823 624,703 Curront a$sots Stocks Debtors Investments Cash at bank and in hand 13 2.010 173,793 223.370 105N63 2,010 48.763 223,370 641,161 14 15 504.636 915,304 Creditors." amounts falling due within one year 16 {98,962) 139.1951 Net curr&nt assets 405.674 876,109 Total assats less curyent liabilities 1.399.497 1,500,812 Creditors." arnounts falling due after more than one year 17 (32.3581 135,0531 Total net assets 1,367,139 1.465.759 Charity funds Restricted funds 18 99.314 1.267,825 498.709 7,050 Unrestricted funds 18 Total funds 1.367.139 1,465.759 The financial statements were approved and authorised for issue by the Trustees on signed on their behaw by". and 20<(y W E Flavell The notes on pages 15 to 33 fom) part of these finanaal statements. Page 13

Age UK South Kent Coast

Statement of cash flows For the year ended 31 March 2024

Cash flows from operating activities
Net cash used in operating activities (see note 21)
Cash flows from investing activities
Dividends, interests and rents from investments
Purchase of tangible fixed assets
Purchase of investments
Disposal of investments
Net cash used in investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
The notes on pages 15 to 33 form part of these financial statements		 2024
£
(278,470)
96,506
(1,846)
(730,071)
378,183
(257,228)
(535,698)
641,161
105,463		 2023
£
(38,676)
33,733
(27,922)
(150,000)
-
(144,189)
(182,865)
824,026
641,161

Page 14

Age UK South Kent Coast

Notes to the financial statements For the year ended 31 March 2024

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 Trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the Charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the Charity's ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

Page 15

Age UK South Kent Coast

Notes to the financial statements For the year ended 31 March 2024

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 16

Age UK South Kent Coast

Notes to the financial statements For the year ended 31 March 2024

2. Accounting policies (continued)

2.5 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.

2.6 Tangible fixed assets and depreciation

Tangible fixed assets costing £2,500 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:

2.7 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.

2.8 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.

2.9 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.

2.10 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 17

Age UK South Kent Coast

Notes to the financial statements For the year ended 31 March 2024

2. Accounting policies (continued)

2.11 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.

2.12 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.

2.13 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 year.

2.14 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 18

Age UK South Kent Coast

Notes to the financial statements For the year ended 31 March 2024

3. Income from donations and legacies

Donations
Total 2023		 Restricted
funds
2024
Unrestricted
funds
2024
£
£
52
9,862
-
17,651		 Total
funds
2024
£
9,914
17,651		 Total
funds
2023
£
17,651

4. Income from charitable activities

Kitchen Sales
Dementia Services
Care Sales
Other income
Grants
Contract Income
Total 2023		 Restricted
funds
2024
Unrestricted
funds
2024
£
£
-
413,352
-
-
26
37,988
-
324
47,147
21,891
581,443
149,110
628,616
622,665
795,634
418,873		 Total
funds
2024
£
413,352
-
38,014
324
69,038
730,553
1,251,281
1,214,507		 Total
funds
2023
£
349,037
5,668
24,988
65
207,125
627,624
1,214,507

5. Investment income

Unrestricted
funds
2024
£
Rental income
35,435
Income from listed investments
52,211
Bank interest
8,950
96,596
Total 2023
33,733		 Total
funds
2024
£
35,435
52,211
8,950
96,596
33,733		 Total
funds
2023
£
25,708
1,018
7,007
33,733

Page 19

Age UK South Kent Coast

Notes to the financial statements For the year ended 31 March 2024

6. Analysis of expenditure on charitable activities

Summary by fund type

Charitable activities
Total 2023		 Restricted
funds
2024
Unrestricted
funds
2024
£
£
714,766
741,645
661,902
570,953		 Total
2024
£
1,456,411
1,232,855		 Total
2023
£
1,232,855

Summary by expenditure type

Charitable activities
Total 2023		 Staff costs
2024
Depreciation
2024
£
£
809,854
25,939
724,300
25,761		 Other costs
2024
£
620,618
482,794		 Total
2024
£
1,456,411
1,232,855		 Total
2023
£
1,232,855

7. Analysis of expenditure by activities

Charitable activities
Total 2023		 Activities
undertaken
directly
2024
£
1,073,636
941,443		 Support
costs
2024
£
382,775
291,412		 Total
funds
2024
£
1,456,411
1,232,855		 Total
funds
2023
£
1,232,855

Page 20

Age UK South Kent Coast

Notes to the financial statements For the year ended 31 March 2024

7. Analysis of expenditure by activities (continued)

Analysis of direct costs

Staff costs
Travel and subsistence
Centre Services and Activities
Meals
Other Project costs
Total 2023		 Activities
2024
£
809,854
10,598
69,380
183,804
-
1,073,636
941,443		 Total
funds
2024
£
809,854
10,598
69,380
183,804
-
1,073,636
941,443		 Total
funds
2023
£
694,630
15,999
41,489
152,203
37,122
941,443

Page 21

Age UK South Kent Coast

Notes to the financial statements For the year ended 31 March 2024

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 Licenses
Insurance
PPS and Advertising
Payroll and Professional Fees
Rent and Rates
ICT Support and Equipment
Sundry
Total 2023		 Activities
2024
£
-
25,939
4,283
28,079
67,702
12,548
25,261
22,789
2,328
24,525
12,244
5,494
83,874
640
67,069
-
382,775
291,412		 Total
funds
2024
£
-
25,939
4,283
28,079
67,702
12,548
25,261
22,789
2,328
24,525
12,244
5,494
83,874
640
67,069
-
382,775
291,412		 Total
funds
2023
£
29,670
25,761
18,186
28,441
43,856
13,448
25,048
14,569
2,638
4,775
11,940
6,844
34,031
1,276
30,648
281
291,412

8. Auditors' remuneration

The auditors' remuneration amounts to an auditor fee of £9,720 ( 2023 - £6,600 ) , and other services of £1,080 (2023 - £3,000).

Page 22

Age UK South Kent Coast

Notes to the financial statements For the year ended 31 March 2024

9. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2024
£
742,839
52,361
14,654
809,854		 2023
£
663,314
48,594
12,392
724,300

The average number of persons employed by the Charity during the year was as follows:

Employees
The average headcount expressed as full-time equivalents was:
Employees		 2024
No.
38
2024
No.
29		 2023
No.
41
2023
No.
34

No employee received remuneration amounting to more than £60,000 in either year.

During the current period remuneration and benefits received by the charity's key management personnel amounted to £91,099 (2023: £106,305) including employer's national insurance contributions of £8,548 (2023: £9,928)

10. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).

During the year ended 31 March 2024, no Trustee expenses have been incurred (2023 - £NIL).

Page 23

Age UK South Kent Coast

Notes to the financial statements For the year ended 31 March 2024

11. Tangible fixed assets

Cost or valuation
At 1 April 2023
Additions
At 31 March 2024
Depreciation
At 1 April 2023
Charge for the year
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023		 Freehold
property
£
410,127
-
410,127
180,151
8,203
188,354
221,773
229,976		 Long-term
leasehold
property
£
400,392
-
400,392
202,368
11,346
213,714
186,678
198,024		 Fixtures and
fittings
£
77,882
-
77,882
53,427
5,918
59,345
18,537
24,455		 Computer
equipment
£
-
1,846
1,846
-
461
461
1,385
-		 Total
£
888,401
1,846
890,247
435,946
25,928
461,874
428,373
452,455

12. Fixed asset investments

Cost or valuation
At 1 April 2023
Additions
Disposals
Revaluations
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023		 Listed
investments
£
172,248
730,071
(378,183)
41,314
565,450
565,450
172,248

Page 24

Age UK South Kent Coast

Notes to the financial statements For the year ended 31 March 2024

13.
Stocks
Finished goods and goods for resale
14.
Debtors
Due within one year
Trade debtors
Other debtors
Prepayments and accrued income
15.
Current asset investments
Bank deposits
16.
Creditors: Amounts falling due within one year
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income		 2024
£
2,010
2024
£
46,282
145
127,366
173,793
2024
£
223,370
2024
£
27,784
12,491
3,380
55,307
98,962		 2023
£
2,010
2023
£
30,196
-
18,567
48,763
2023
£
223,370
2023
£
20,771
-
2,881
15,543
39,195
2023
£

Page 25

Age UK South Kent Coast

Notes to the financial statements For the year ended 31 March 2024

17. Creditors: Amounts falling due after more than one year

Accruals and deferred income
Statement of funds
Statement of funds - current year
Balance at 1
April 2023
£
Unrestricted funds
Designated funds
Property Fund
357,224
Maintenance Reserve
10,430
367,654
General funds
General Funds
599,396
Total Unrestricted funds
967,050		 Income
£
-
-
-
729,123
729,123		 Expenditure
£
-
-
-
(741,645)
(741,645)		 2024
£
32,358
Transfers
in/out
£
(357,224)
-
(357,224)
670,521
313,297		 2023
£
35,053
Balance at
31 March
2024
£
-
10,430
10,430
Unrestricted funds
Designated funds
Property Fund
Maintenance Reserve
General funds
General Funds
Total Unrestricted funds
1,257,395
1,267,825

18. Statement of funds Statement of funds - current year

Page 26

Age UK South Kent Coast

Notes to the financial statements For the year ended 31 March 2024

18. Statement of funds (continued)

Restricted funds
Centre Works Fund
NHS CCG Care Navigator
KCC Care Navigator
Developoment Reserve
Advocacy
KCC Wellbeing
Community Outbreak
Management Fund (COMF)
Folkestone Hub
Dover District Household
Support Fund
Walking Netball
MCST
Warm spaces
Community Fridge Grant
UK Power Networks FHDC
Cost of Living support
Folkestone Hardship Support
Fund
Total of funds		 34,740
30,449
25,613
60,491
221,115
30,226
10,104
10,193
41,337
850
13,617
922
1,821
4,552
10,000
2,679
498,709
1,465,759		 75
196,000
52,232
-
-
265,000
3,000
-
38,066
-
50
6,034
-
-
68,211
-
628,668
1,357,791		 (95)
(206,969)
(55,785)
-
(3,029)
(311,717)
-
-
(41,217)
(887)
(12,699)
(5,255)
(383)
(2,870)
(73,860)
-
(714,766)
(1,456,411)		 (34,720)
-
-
(60,491)
(218,086)
-
-
-
-
-
-
-
-
-
-
-
(313,297)
-		 -
19,480
22,060
-
-
(16,491)
13,104
10,193
38,186
(37)
968
1,701
1,438
1,682
4,351
2,679
99,314
1,367,139

Page 27

Age UK South Kent Coast

Notes to the financial statements For the year ended 31 March 2024

18. Statement of funds (continued)

Property Fund - This fund represents the value of land and buildings included in tangible fixed assets, (together with the balances held in the Centre Works fund and Development Reserve)

Maintenance Reserve - The maintenance reserve fund is designated for capital expenditure and property maintenance of The Marigold Centre.

Centre Works Fund (Restricted) - This fund is held to meet in part the future depreciation on the Garden Room development which was partially funded by the Coalfields Community Fund.

NHS SKC Care Navigator (Restricted) - This is the fund through which the income from KCC /NHS CCG 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.

Advocacy - This fund received the grant from KCC and is retained to meet future costs attributable to the provision of this service.

KCC Wellbeing - This is the fund through which the income from KCC (via SEK) to provide the community based wellbeing services is received and deployed in the delivery of that service.

Community Outbreak Management Fund (COMF) - This is the fund through which the income from KCC (via SEK) and Folkestone&Hythe DC was received to deliver a programme of targeted support to encourage older people back into the community post COVID and to help support vulnerable people through COVID.

Folkestone Hub Fund - This fund is for the delivery of ongoing support to vulnerable communities through the Folkestone Community Hub following the initial response phase to the COVID19 pandemic and to develop sustainability in future community hub operations.

Dover District Household Support Fund - This fund is to deliver ongoing support to individuals in hardship within Dover District.

Folkestone Helping Hands Grant - This fund is to deliver ongoing support to individuals in hardship within Folkestone District.

Walking Netball Grant - This fund was received from KCC to set up Walking Netball sessions in the local community.

MCST - This fund was received from Age UK to run Dementia Support groups

Warm spaces - This fund was given to enable Folkestone to provide a Warm space with free refreshments over the Winter.

Community fridge grant - This fund was given by FHDC to provide free food to local residents

UK Power Networks FHDC - This fund is to provide support for electricity bills plus equipment to keep warm such as Electric Blankets and Slow Cookers

Age UK Cost of Living Support - This Fund is for use in 2023/24 to assist with help in paying bills, shopping etc

Folkestone Hardship Support fund - This Fund is to assist in paying bills, shopping etc

Page 28

Age UK South Kent Coast

Notes to the financial statements For the year ended 31 March 2024

18. Statement of funds (continued)

Statement of funds - prior year

Unrestricted
funds
Designated
funds
Independent
Living Service
Property Fund
Maintenance
Reserve
BL Skinner
Legacy
General funds
General Funds
Unrestricted
Income Fund
Total
Unrestricted
funds		 Balance at
1 April 2022
£
11,615
319,731
10,430
35,698
377,474
25,107
686,858
711,965
1,089,439		 Income
£
-
-
-
-
-
-
470,257
470,257
470,257		 Expenditure
£
-
-
-
-
-
-
(570,953)
(570,953)
(570,953)		 Transfers
in/out
£
(11,615)
37,493
-
(35,698)
(9,820)
(25,107)
14,682
(10,425)
(20,245)		 Gains/
(Losses)
£
-
-
-
-
-
-
(1,448)
(1,448)
(1,448)		 Balance at
31 March
2023
£
-
357,224
10,430
-
367,654
-
599,396
599,396
967,050

Page 29

Age UK South Kent Coast

Notes to the financial statements For the year ended 31 March 2024

18. Statement of funds (continued)

Restricted
funds
Centre Works
Fund
NHS CCG Care
Navigator
KCC Care
Navigator
Developoment
Reserve
Advocacy
KCC Wellbeing
Community
Outbreak
Management
Fund (COMF)
Folkestone Hub
Dover District
Household
Support Fund
Folkestone
Helping Hands
Grant
Walking Netball
MCST
Warm spaces
Community
Fridge Grant
UK Power
Networks
FHDC
Cost of Living
support
Folkestone
Hardship
Support Fund
Total of funds		 39,347
777
931
63,365
221,115
2,819
2,001
8,338
4,214
150
1,675
-
-
-
-
-
-
344,732
1,434,171		 -
196,000
150,628
-
-
280,996
8,600
19,017
89,923
-
3,750
22,440
2,869
1,859
4,552
10,000
5,000
795,634
1,265,891		 (4,607)
(166,328)
(125,946)
(2,874)
-
(253,589)
(497)
(17,162)
(72,972)
(223)
(4,575)
(8,823)
(1,947)
(38)
-
-
(2,321)
(661,902)
(1,232,855)		 -
-
-
-
-
-
-
-
20,172
73
-
-
-
-
-
-
-
20,245
-		 -
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(1,448)		 34,740
30,449
25,613
60,491
221,115
30,226
10,104
10,193
41,337
-
850
13,617
922
1,821
4,552
10,000
2,679
498,709
1,465,759

Page 30

Age UK South Kent Coast

Notes to the financial statements For the year ended 31 March 2024

18. Statement of funds (continued)

19. Summary of funds

Summary of funds - current year

Designated funds
General funds
Restricted funds		 Designated funds
General funds
Restricted funds		 Balance at 1
April 2023
£
367,654
599,396
498,709
1,465,759
Income
£
-
470,257
795,634
1,265,891		 Income
£
-
729,123
628,668
1,357,791
Expenditure
£
-
(570,953)
(661,902)
(1,232,855)		 Expenditure
£
-
(741,645)
(714,766)
(1,456,411)
Transfers
in/out
£
(9,820)
(10,425)
20,245
-		 Transfers
in/out
£
(357,224)
670,521
(313,297)
-
Gains/
(Losses)
£
-
(1,448)
-
(1,448)		 Balance at
31 March
2024
£
10,430
1,257,395
99,314
1,367,139
Balance at
31 March
2023
£
367,654
599,396
498,709
Summary of funds - prior year
Designated
funds
General funds
Restricted funds		 Balance at
1 April 2022
£
377,474
711,965
344,732
1,434,171
1,465,759

20. 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
Creditors due in more than one year
Total		 Restricted
funds
2024
Unrestricted
funds
2024
£
£
99,314
329,059
-
565,450
-
504,636
-
(98,962)
-
(32,358)
99,314
1,267,825		 Total
funds
2024
£
428,373
565,450
504,636
(98,962)
(32,358)
1,367,139

Page 31

Age UK South Kent Coast

Notes to the financial statements For the year ended 31 March 2024

20. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior period

Restricted
funds
2023
Unrestricted
funds
2023
£
£
Tangible fixed assets
141,130
311,325
Fixed asset investments
-
172,248
Current assets
357,579
557,725
Creditors due within one year
-
(39,195)
Creditors due in more than one year
-
(35,053)
Total
498,709
967,050
21.
Reconciliation of net movement in funds to net cash flow from operating activities
2024
£
Net income/expenditure for the period (as per Statement of Financial
Activities)
(98,620)
Adjustments for:
Depreciation charges
25,928
(Increase)/decrease in current investments
-
Gains/(losses) on investments
(41,314)
Dividends, interests and rents from investments
(96,506)
Decrease/(increase) in stocks
-
Increase in debtors
(125,030)
Increase/(decrease) in creditors
57,072
Net cash used in operating activities
(278,470)
22.
Analysis of cash and cash equivalents
2024
£
Cash in hand
105,463
Total cash and cash equivalents
105,463		 Total
funds
2023
£
452,455
172,248
915,304
(39,195)
(35,053)
1,465,759
2023
£
31,588
25,761
(422)
1,448
(33,733)
896
(21,008)
(43,206)
(38,676)
2023
£
641,161
641,161

Page 32

Age UK South Kent Coast

Notes to the financial statements For the year ended 31 March 2024

23. Analysis of changes in net debt

Cash at bank and in hand
Liquid investments		 At 1 April
2023
£
641,161
223,370
864,531		 Cash flows
£
(535,698)
-
(535,698)		 At 31 March
2024
£
105,463
223,370
328,833

24. 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 £12,392 (2023 - £12,392) Contributions totalling £2,881 (2023 - £2,881) were payable to the fund at the balance sheet date and are included in creditors.

25. Operating lease commitments

At 31 March 2024 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		 2024
£
9,678
25,935
35,613		 2023
£
9,678
35,613
45,291

26. Related party transactions

The Charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Charity at 31 March 2024.

Page 33