AGE CONCERN GX PLUS CIO ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31ST DECEMBER 2023 Charlty Registration Number 1202662
AGE CONCERN GX PLUS CIO CONTENTS PAGE KEY INFORMATION REPORT OF THE TRUSTEES REPORT OFTHE INDEPENDENT EXAMINER ACCOUNTS
AGE CONCERN GX PLUS CIO KEY INFORMATION CHARITY NUMBER 1202662 TRUSTEES: (Appolnted 61412023 unless Otherwise stated) Christine Burges5 Chair Jill Pocock Treasurer Sara Sabine Secretary Maura Fagan Krystyna SimpkiN5 Jennifer Woolveridge JOY Arnold Maura Fagan Karen Dickson Donna Rooks Jeffrey Coteman Barbara Helen O'Farrell Murray Bruce Stewart IDeceased (Resigned 23111120231 (Resigned 23/11120231 IResigned 23111/20231 (Resigned 23111120231 (Resigned 23111120231 IRe5igned 05108120241 IAppointed 23111120231 IAppointed 12108120241 (Appointed 30105/20241 ADDRESS 59 Sycamore Road Chalfont St Giles Buckinghamshire, HP8 4LG PHONE 01494 870611 EMAIL info econcern- Iu5.co.uk WEBSITE www.a econcern- lus.co.uk INDEPENDENT EXAMINER Samir Shah FCA, ATII Ramon Lee Ltd Chartered Accountants 93 Tabernacle street London EC2A 4BA BANKERS LIDyds Bank PIC Flagstone Group Ltd Penn Road, Hailemere I, Floor, Clairville House High WycombÈ, HP15 7LN 26-27 Oxenden Street London SWIY 4EL INVESTMENT MANAGERS st James Place Wealth Management Administration Centre PO BoJ( 9034, Chelmsford, CM99 2XA
AGE CONCERN GX PLUS CIO REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 31 DECEMBER 2023 The Trustees are pleased to present their report and accounts for the period ended 315t December 2023. The accounts have been prepared in accordance with the accounting policies Set out in note I to the accounts and comply with the charity's constitution, the Charities Act 2011 and "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 IFRS 1021" (effective l January 20191. Objectives and activities On 6 April 2023 the activities undertaken by the old charity Age Concern Gerrards Cross the Chalfonts & District, charity no 205806, were transferred to a newly formed charity Age Concern GX Plus CIO, regi_4tered Charity Number 1202662. The objects of the new charity remain as previously, these being to promote the welfare of local older people and ease social isolation of that group. These 3ccounts reflect the activity of Age Concern GX Plus CIO up to 31sr December 2023. The assets of Age Concern Gerrards Cross the Chalfonts & District amounting to £798,453 w@iÈ" formally transferred and are held by Age Concern GX Plus CIO. The Trustees anticipate that Age Concern Gerrards Cross the Chalfonts and District will be deregistered in due course. On the 301hJune 2023 the Trustees agreed a 6-year lease on premises at 8 Market Place, Chalfont St Peter, with an annual rental of £15k, with a 2 year break clause dated 30, June 2025. The purpose was to increase the profile of the charity in the local community offeting help and advice to older people. Investment powers and policv The Trustees have the power to invest monies not immediately required as they think fit..T.he f unds have been invested with a view to increasing their value but without excessive risk. The aim is to ensure the long-term financial future of the charity. Funds for longer term investment are with St James Wealth Place Management and the value of this investment is regularly monitored. The Trustees continue to retain other funds on deposit with Flagstone Group Ltd with interest beaiing deposit accounts with various banks, protected within the £85,000 Financial Services Compensation Scheme. Public benefit statement In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission's guidance on public betbefit, including the gLtidance 'public benef It= rtjnning a charity IPD21'. The achievements and aCtivite5 above demonstrate the public benefit arising through the charity's activities.
AGE CONCERN GX PLUS CIO REPORT OFTHE TRUSTEES (CON'TI FOR THE PERIOD ENDED 31 DECEMBER 2023 Financial review The financial result5 for the year are set out in the Statements of Financial Activities. The charity recorded a net deficit of £43,085 for the period. The financial position at the perlod end revealed by the Balance Sheet shows net current assets or working capital of £791,127. Re5eNes Policy & Funds The Trustees consider it prudent to alway.9 retain £60,000 free reserves which represents approximately l year's rurbning costs. In addition, a reserve covering the lease to the 'Break Date, 30th June 2025, amounting to £22,500, a total reserve of £82,500. There are no future committed funds, and this leaves some £700k of u r)allocated free reserves to be spent on appropriate and approved projects in the future. There are no restricted funds at present and 50 all funds held are unrestricted. Structure* governance and management Governing document The organisation is a Charitable Incorporated Organisation ICIOI, established in 2023 and registered a5 2 charity with the Charity Commission on 6 April 2023 under registration number 1202662. The organisation is governed by a constitution which sets out the object5 and powers of the charity and governs the actions of the trustees. Recruitment and appointment of Trustees The management of the charity is the responsibility of the trustees who are elected under the terms of the constitution. Organisation Structure The activities of the charity are goverrhed by the trustees who meet four times a year with other meetings arranged as necessary. Day to day management 15 delegated to individual trustees who report at each trustee meeting. We have approximately 45 volunteers and the trustees are very gratef ul for thoir sUPPOrt. Trustee Induction and training The trustees maintain a good working knowledge of charity governance ond best practice by regular reading of charity press articles and guidance produced by the Charity Commission arkd other Government and voluntary organisation advisory websltes. New trustees are given copies of previous minLTtes and attend an induction session given by an experienced trustee. Risk Management The Trustees have assessed the major risks to which the Charity is exposed and are satisfied that systems are in place to mitigate exposure to them.
AGE CONCERN GX PLUS CIO REPORT OF THE TRUSTEES ICON'TI FOR THE PERIOD ENDED 310ECEMBER 2023 We will continue with our long standing 8nd successful activities including chiropody, an Ear Wax removal clinic, chair Yoga and exercise cl35ses,' these are run by qualified and insured personnel. We also offered sub5idised lunches in local pubs and organised an Annual Tea Party with entertainment. Statement of Trustees, responsibilitre5 The trustees are respon55ble for preparing the Trustees, Report and the financial 5t3tements in accordance with applicable law and United Kingdom Accounting Standards (United Kin8dom Generally Accepted Accounting P¥acticel. The law applicable to charities in Eng12nd 2nd Wales require5 the trustees to prepare accounts for each financial year which give a true and fair wiew of the state ol affairs of thp charity and of the incoming re50urce5 and application of resources of the charity for that ye3r. In preparing these accounts, the trustees are required 10: select suitable 3CCOUntit)g policies and then apply them consistently,- observe the methods and principles in the Charities SORP,. make judgements and estimates that are reasonable and pruLfent' State whether applicable accounting standards have been followed, subject to 6nv material departures disc105ed and explained in the financial statements- and prepare the accounts on the going concern basis unless it Is inappropriale lo presume that the chariry will continuè in operation. ThÈ trusrees are responsible lor keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial p051tion of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Report51 Regulations 2008 and the provisions ol the charitV'5 con51itulion. They are a150 responsible for salegu3rding Ihe assets ol the chariiy and hence for taking Yea50nable steps for the prevention and deteclion of fraud and other irregularities. The trustees are responsible for the maintenance and integ¥ity of the charity and the financial information included on the charity'5 websitE in aicordance with legislation i n the Uniièd Kin8dom governing rhe preparation and dissemination ol accounts. The Trustee5' report was approvecl ar*d signed on it5 behalf by.. Christine Burgess Chair of the Yrustee5 Date.. 26 September 2024
AGE CONCERN GX PLUS CIO INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF AGE CONCERN GX PLUS CIO I report to the charity trustees on my examination of tho accounts of the charity for the period ended 31 December 2023. This report 15 made solely to the charity's tiustee5. as a body. in accordance with the Chafltie5 Act 2011. My work has been undertaken SD th2t I might state to the charity's trustees those matters l atn required to State to them in an independent examiner'5 report and for no other purpose. To the fullest extent pem)itted by law. I do not accept or assume Tespon5ibility to anyone otheT than the charity and the charity's trustees as a body, for my Independent Examination. for this report, or for the opinion51 have formed. Responsibilitses and basis Df report As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charltles Act 20111.the Act'l. I report in respect of my examination of ihe charity's accounts carried out under section 145 of the 2011 Act. In carrying out my exèmlnation, I have followed all the applicable Direttion5 given by the Charity Commission under sertion 14515llbl of the 2Qlll Act. Independent ÈxaminePs statement I have completed tny examination. I confirm th3t no materlal mattprs have come to my attention in connectÉon with tho examination giving me cause to believe that in any material respect.. accountirig records were not kept in respect of the charity 2s required by section 130 of the 2011 Act,. or the accounts do not accord with those records,. or the accounts do not comply with the applicable r2qutrement5 concerning the form and content of accounts set out in the Charities (Account5 and Reports) Re£ulatiOR5 2008 otherihan any requirement that the 3ccounts give 3.true and fair view, which is not a matter considefed as parl ol an independent examination. I have nts concerns and have tome acr05S no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Samir Shah FCA, ATII Ramon Lee Ltd Chartered Atcountants 93 Tabernacle Street London EC2A 4BA Date.. 26 September 2024
AGE CONCERN GX PLUS CIO STATEMENT OF FINANCIALACTIVITIES {INCLUDING INCOME & EXPENDITURE ACCOUNT} FOR THE PERIOD 6 APRIL 2023 TO 31 DECEMBER 2023 Period to December 2023 Note Income Donations Charitable Activities Interest 2,390 17,117 4,300 Total Income 23,807 Expenditure Charitable Expenditure 66,892 Total expenditure 66,892 Surplu51{Deficitl for the perlod 143,0851 Net gains/llos5esl on investments 35,759 Net movement in funds 17,326) Transfer from old charity 798,453 Reconciliation of funds.. Total funds, brought forward Total funds, carried forward 791,127 The Statement of financial activities includes all gains and losses recognised in the period. All income and expenditure derive from continuing activities.
AGE CONCERN GX PLUS CIO ST BALANCE SHEET AT 31 DECEMBER 2023 Note 2023 Investments St James Place Wealth Managetnent Flagstone Group Itd 627,813 146,943 Current assets Cash at bank and in hand Debtors and prepayments 6,326 18,245 Current Liabilities Creditors 18,2001 Net assets 791,127 Reserves brought forward Transfer frotr> old charity 798,453 Net movement funds 13 17,3261 Balance at 315t Deeember 2023 791,127 The accounts were approved by the Trustees on.. 26 Septembei 2024 Christine Burgess Chasr of Trustees Jeffrey Coteman Trustee
AGE CONCERN GX PLUS CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIO ENDED 31 DECEMBER 2023 Note l- Accounting Policies Accounting convention The accounts have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" I'FRS 102.1 and the Charities SORP "Accounting and Reporting by Charities.. Stalement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective l January 20191. The charity is a Public Benef it Entity as defirhed by FRS 102. The charity has taken advantage of the provisions in the 50RP for charities not to prepare a Statement of Cash Flows. The accounts have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure ha5 involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The accounts are prepared in sterling, which is the functional currency of the charitv. Monetary amounts in these accounts are rounded to the nearest £. The 2ccounts have been prepared on a going concern basis under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notel51 to these actounts. Income Recognition All incoming resources are included in the Statement of Financial Activities1SOFA} when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured roliably, and it is probable that the income will be received. Expenditure Recognition All expenditure is accounted for on an accruals basis 2nd has beÈn classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third partie5, It Is probable that the settlement will be required, and the amount of the obligation can be measured reliably. Fixed Assets Investments Investments comprise a55ets held to generate future irkcome. All investment assets are shown on the balance sheet at market value at the balance Sheet date. The market value has been determlned by the Investment Manager. Unrealised gains or losses arising on the revaluation of investment a55ets are included in the Statement of FiTrancial Activities. io
AGE CONCERN GX PLUS CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIO ENDED 31 DECEMBER 2023 Fund5 Unrestricted Funds These represent the remaining income fund5 of the charity that are available for spending on the general purposes of the charity. Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount repaid net of any trade discount5 due. Cash at bank and Sn hand Cash at bank and in hand includes cash and short-term cash deposits. Creditors and provislons Creditors and provisions are recognised where the Charity has a present obligation resultine from a past event thclt will probdbly result in thÈ transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Judgement and key sources of estimation uncertainty In the application of the Charity's accounting policies, the Charity is required to make jLJdgments, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The e5timate5 and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual result5 may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting cstimate5 are recognised in the period in which the estimato is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Note 2- Donations During the period the charity benefitted from donations totalling £2,390. li
AGE CONCERN GX PLUS CIO NOTE5 TO THE FINANCIAL STATEMENTS FOR THE PERIO ENDED 31 DECEMBER 2023 Note 3 Income from charitable activitie5 2023 Contribution from Chiropody 17,117 17,117 Note 4 Expenditu on charitable activities 2023 Venue costs Chiropody Lunches/Meals Other Events 6,675 19,213 1,264 3,227 Support costs (note 51 36,513 66,892 Note 5 Support C05t5 2023 Payroll Costs Premises Rent & Rates Utility costs Insurance Legal & Professional Administration and miscellaneous Costs Finance charges 11,034 8,095 967 554 5,718 7,123 322 Governance costs.. Examiner'5 remuneration 2,700 36,513 All support costs are allocated to expenditure on charitable activitie5 as the vast majority Df time and effort of the charity is focussed here. 12
AGE CONCERN GX PLUS CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIO ENDED 31 DECEMBER 2023 Note 6- Investments St Jame5 Place Wealth Management Flagstones Total Cost or valuation At 6th April 2023 Transfer from old charity Transfers Valuation changes Finance costs 607,054 115,0001 35,759 147,172 754,226 15,0001 35,759 12291 12291 Carrying amount At 31, December 2023 627,813 146,943 774,756 Fund5 invested with 5t James Place Wealth Management are Shown in the Balance Sheet at the encashment value at 31st December 2023. All of the above investments are allocated as follows.. (£1 14,268 261,600 144,418 207,527 UK Equities Overseas Equities Non-equity Cash held within the investment portfolio Total 627,813 13
AGE CONCERN GX PLUS CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2023 Note 7- Transfer from old charity {£) Net value of the assets transferred from the old charity 'Age Concern Gerrards Cross the Chalfonts and District, 798.453 Total 798,453 On 6 April 2023 the activities undertaken by the old charity Age Concern Gerrards Cross the Chalfonts & District, charity no 20S806, were transferred to a r.ewly formed charity Age Concern GX Plus CIO, registered Charity Number 1202662. The assets of Age Concern Gerrards Cross the Chalfonts & District amounting to E798,453 were formally transferred and are held by Age Concern GX Plus CIO. The Trustees anticipate that Age Concern Gerrards Cross the Chalfonts and District will be deregistered in due course. Note 8- Debtors and Prepayments 2023 Rent Deposit/Prepayment Insurance Prepayment Accrued Interest Sundry Debtors 7,625 1,592 6,267 2,761 Total Debtors 18,245 Note 9- Creditor5 2023 Independent Examiner's Fees other Creditors 2,700 5,500 Total Creditor5 8,200 14
AGE CONCERN GX PLUS CIO NOTESTO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2023 Note 10- Trustees None of the trustee5 received any remuneration during the period. Four trustee5 received reimbursement of expenses £4,936 during the period. Note 11- Employees Two staff were employed during the period. Note 12 - Related Party Transaction5 There were no related party transactions during the period. Note 13- Movement in Funds At 06.04.23 Transfer from old charity Net Movement In funds Transfer Between Funds At 31.12.23 Unrestricted funds 798,453 17,3261 791,127 TOTAL FUNDS 798,453 17,326) 791,127 15