GRANDFRIENDS THE COMPANY OF ELDERS GrandFriends The Company of Elders FINANCIAL STATEMENTS FOR THE PERIOD 218t June 2023 to 31•t March 2024 Charity Number 1203669 CARSTON Chartered Accountants 1st Floor. Tudor House 16 Cathedrdl Road Cardrff CF119LJ GrandFriends 21st June 2023 to 31st March 2024 CONTENtS PAGE Trustees AJ)nual Report Independent examlnerfs report to the trustees Re¢elpts and payments accounts Statement of assets and liabilities Note5 to the flnancial statements GrandFriends TRUSTEES ANNUAL REPORT 21¥1 Jun• 2023 to 314t March 2024 The trustees present their rewrt and the unaudited financial statements of the char￿V for the period 21" June 2023 10 3151 March 2024. REFERENCE AND ADMINisfRATIVE DETAILS Re8lstered charlty name GrandFriends Charity number 1203669 Prfnclpal offlce GrandFriend5 27 Board Street Truro Cornwall TRI IJD Trnstees Lucy Anne Beattie {Chalrl lan Patrick Dunning (Treasurer) Anna Elizabeth Sabine Dr Anna Gregorowskl Senlor Management Lavinia Thomas Buha8lar- Execut5ve Dlrector Jayne Watkins- Volunteers Manager Independent examlner Farzana Ahmed FCCA Carston Accountants First Floor, Tudor House, 16. Cathedral Road. Cardiff CFII 9U GrandFriends TRUSTEES ANNUAL REPORT 21•1 June 2023 to 31¥t March 2024 Introdurtion The Trustees present their report and unaudited accounts for the pthod 21" June 2023 to 31" March 2024 GTrndFr￿rbds. The Company of Elder5 was l*unthod in ￿Pternber 2021 Our financAI ytar runs to 31" March. T￿refore. this first set of accounts covers activiy from Septethr 2022 to 31" M￿h 2024. The charity vrds Incorporated 21"June 2023 15 a ao. Oblertlves The oblert of the ao is Tr the to reltht the needs rfNimarilrf but not exdusivtty ￿Ung and elderty People in Both ond North Edst Somerset and the surroundinz orw who exPwienonK loneliness ty reoson of their age, dtstibility. ill heolth orsome otherreosr44 throuzh sodol Inter￿￿ beThveen tthr ￿lunte￿5 ond younFr People.. Artlvltles GrandFrlend&' The CoMF￿Y of Eldfxs tralns and supports our volunteers who we value # Elders and 3$ communlty as$¢ts. Qur Mission Is to address intergenern¢ional loneliness by creating mutualty beneficlal connettSons bet*rt•n GrandFriends and people of all yOu￿r generntlons through our Innovatfve pro8ramme4 thereby bulldlng more cohesive communities with •lders at the PearL Achlevements 1" September 2022 marked the start af our first and pilot year of desl8nln& testlng and developlng our practlc¢ and proffammeg. Summ¥y of Achievements in Yw 1 22 GrarrflFriends Volun¢etrs Re¢Ni¢¢d 18 Active Volunt•ers T￿nIr¢ Days 35 Total pr¢)rynme se$s￿n$ 144 Total unlque GF Voknnreer atterthn¢es at programme sessions Total SOCI￿ events orKanised by the cFwiry 35 Tot31 unlque GF Vdunteer atten&rbces at so¢ial evènts 377 Tor41 measurable unt¢s of Meanlrful Intergerberrional cortr￿tIOn Valu¢ 249 Total measurable unrts of Meanin￿1 Peer-ts>Peer Connertion Value GrandFriends TRUSTEES ANNUAL REPORT 21st June 2023 to 31st March 2024 Flnance In the perfod to 31*1 March 2024. income of the dwlry vras £27.(W. £10.1)Xl from a priydo Phil￿thrOp1C collertjve £6,1￿* fram an arKJnymous individual do £5.000 from St John's Foundation. Barh £5,000 from Quartet Communy Foundatton £1,000 from Bath Hospital Cricket Club FU￿1. The truste•s ar• Confident the charity will be able to meet outgoinzs in the rest of the financial year. tkough condNlng and new support from doncn and grant makws w wlK¥m we ar¢ most Fatefvl. R•serv•s at the year-end amount to £1.770. As this is the first year ￿n¢fj Inc¢ptlon of the charity, It wlll take some tlme to build up reserv¢s. There are rK) outgoinzs at Ftts¢nt and expendfture is onty incurred when there is sufficient fvndlng In ￿aCe. PAYE Mll be established with employment contrKts to all staff as of August 2024 Strurture. Governance & Management The Charlty 1$ registered wlth the CPwity Commi$510￿ numb•r 1203669, as a CIO (Foundatlon). The Ch¥ltys zovernlng document bs the C¢)n5titudorn adopted on 5th December 2021 The rwt•red addre￿ 1$ 27 Broad StreeL Truro. corn￿1. TR1 1JD. The Trustees are.. Lucy Beattlo (Ch*6r) lan Duming (Treasurer) Dr Anna Gre8rnkl Ann• Sabine MP Staff.. Lavlnla Thomas BU1￿01r. Executi¥e Drector Jayne Watkln& Volunteer5 Maryager The Chirity holds three Bo¥d meetings a year. Including the Annul Generdl Meetir¢ in the Autumn term. GrandFriends TRUSTEES ANNUAL REPORT 21st June 2023 to 31st March 2024 Pollcles The charlty has cr¢at¢d a comprehenslve surte of bespoke policies which arn r•Yiewed on a rolli￿ basis. The policies are dlstributed to $￿ff and Volunteers as part of the GrarKIFriends Handbook and T GrnndFriend$ W¢lcome Pack for new ¥olun¢eer5. Those policies as at M¥ch 2024 are: GrandFriends Anti4ultying and Harassment Poliry GrandFrlends Bo¥d of Trnstees GrandFriends Complaints and Whistleblowing Pr¢¢¢dur¢ GrandFriends Confllct of It)teres¢ Pollcy GrnndFriénds Data Protection Policy GrandFriends Discipllnary Polky GrnndFri•nds Due DIIIDn¢¢ on Gllu Pollcy GrandFriends Equ￿lty. Dbversity arml Inclusion Pollcy GrnndFriends Expenses Policy GrandFriends Fin8n¢i31 Management Poll GrandFrlends Grievance policy GrandFrRnds Health ind Safety Polky Gr4ndFrknds Incldent Reporring Policy and Proc•lur• GrandFrlerKls Proywnme and Prolect Assessment Polky GrandFrlends Safeguardlng Pollcy GrandFrlends Volunteer Seleaion Policy GraThJFrlends Volunteers Pollcy Grar￿Fr￿nd$ Work From Home Pollcy Slgned.. Lucy B ttie (Jul 27, 2024 10:42 GMT+ii Lucy Beatti& Chair Juty 2024 GrandFriends INDEPENDENT EXAMINERS REPORT 21st June 2023 to 31 It March 2024 I rep)rt to the tnJslee5 on my examinatKin of the financkl statements of GrandFriends (the charltyl for the perSod 21.june 2023 to 31 March 2024 lincoryatiry actlvtty since September 20221. R•sponslbllltles and ba515 ol report As the charws trustees you are responslble for the preparatlon of the attounts in occordance wlth the requirements of the Charities Act 2011 ltthe ACVI. I report In respect of my examlnation of the charl￿S accounts carried out under seciion 145 of the Act and in carryin8OUt my examination I have followed all the applicable Dlrertbon5 8lven bythe Charity Comrn155b)n under sectlon 14515llbl of the Act. Independent •Mamlnerfs statement I have completed my examinatlon. I conllmi ihat no material matters have come to my attentlon In connection wlth the examinatlon gfvlng me cause to believe that In any material resi*rt: accountin8 records were I￿t kept In respect of the charlty as reqUI￿d by sectlon 130 of the Act,. or 2. the accounts do not accord wlth those records A￿hoUgh the charltls position at the period end of 31 March 2024 shows low resen￿5, we draw your attention to the trustees explanatlon that as thlsls the first year of the tharlty slnce Inceptlon, It wlll take some time to bulld reserves. New fundlng Is aclively sought and reasonable steps monitor and strengthen the sltuatlon Is In place. The charlty also made payments to EXec￿l¥e Director during the perlod as sub-wntractor of £12,724. No PAYE employer's registration has been tarried out In this reportlng period and this is in the process of belng Set up. There 15 also an amount of £23,858 owlng to the Executlve Dlrector for subcontractor costs ¢overln8 the perlod Aprll 2023 to March 2024 and does not fomi part of the ￿ceIpts and paymÈnt5 accounts. Farzana Ahmed FCCA Independent Examiner Carston Accountants 1st Floor, Tudor House 16 Cathedral Road Cardfff CF119U lts>lJoJy GrandFriends RECEIPTS AND PAYMENTS ACCOUNT 21•1 June 2023 to 31st March 2024 Unrnstrlrted Funds R•striLted Fur Totsl R•celpts: Fundingfrom Grnntmakers Fundin8 From Prlvate Donors Contrfbutlons to G3rdenln8 Club Contrfbutions to Sunday Social Interest Income iiojj 16.OXI Tol•l Recelpts 27,057 27,057 Payments: Pro8ramme expenses Event costs Induction and Train5n8 Insuran Sub-contrartors Subscriptlons General Prlntlng & Statlonery Sundryexpenses 1741 L736 L596 1741 LTJ6 16,933 593 L013 14933 593 LOI3 Total Payments Net R•c•lpts I (Payments) L770 Cash Funds Last Year Cash FundsThls Year IT L770 GrandFriends STATEMENT OF ASSETS AND LIABIUTIES 21•t June 2023 10 31st March 2024 Unveffjlcted Re5tr1Ltsd Funds Bonk and other cosh bolances.- GrandFriends Current Account GrandFriend5 Reser¥e5 Account 1270 1270 These financial statefflents were approved by the rnembers of the comrnlttee and authorised for Issue on the . and are slgned on thelr behalf lry: Lucy B ' lie lJul 27, 2024 10..42 GMT+l) .. 51gned Trustee Lucy Beattte . Prlnt Nome GrandFriends NOTES TO THE FINANCIAL STATEMENTS 21•t June 2023 to 31st March 2024 L TRUSTEE REMUNERATION AND EXPENSES No trustee re￿IVed any remuneratlon from the charity in respett of thelr ser4Kes durlng the period. 2. RELATED PARTYTRANSAcnchNS As thls Is the first peri¢)d since the inception of the charrty costs Incurred for general expenses were pald personally by the Executive DSrector and these were then re1mE￿r5ed. At the period end an amount of £2,729 remain5 OUtstandin8tor these costs and does not form part of the receipts and payments account. The charty also made payments as S￿￿COntraCtor costs of £12.724 durlng ihe perlod to the E¥ecuifve Dlrector. An amount covering the period Aprll 2023 to March 2024 remains tsutstandln8 and amounts to £21,129. Thts amount does not forni part of the receipts and payments account, There is an a8reement with the board of the trustees forthis lo be paid upon satlsfactoryfunds belng available. The￿ Is a M￿Ual agreement between ihe Executive Dlrector and the board of the twstees, a5 recorded in the mlnute5 of Board Meeting 5 March 2024 that 'upon satlsfactory funds beln8 available, jt ihe dlscretlon of the tru5tee5. that the amount shall be relmbursed at Increments untll it ha5 been completety repald.. 3. BASIS OF PREPARATION The financial 51atements have been prepared on a Re￿Ipts and Payments basi5. Any costs Incurred prbr to the formal reglstratlon of the charlty on the 21 June 2023 forms part of the recèipts and payment accounts. The recelpts and payments cover a perlod from September 2022 slnce the aCt￿lEY started. 10