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2020-09-30-accounts

CENTRE FOR POLICY ON AGEING

ANNUAL REPORT AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2020

Company Registration No: 00440135 Charity Registration No: 207163

CENTRE FOR POLICY ON AGEING

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30th SEPTEMBER 2020

CONTENTS

Page
Report of the Directors 1 - 6
Independent Examiner's Report 7
Statement of Financial Activities 8
Balance Sheet 9
Notes to the Accounts 10 - 18

Page 1

CENTRE FOR POLICY ON AGEING

DIRECTORS’ REPORT

The directors submit their report and the financial statements for the year ended 30[th] September 2020. The financial statements have been prepared using the accounting policies set out in note 1 to the financial statements and comply with the requirements of the Companies Act 2006 and applicable accounting standards including the Statement of Recommended Practice “Accounting and Reporting by Charities” issued in March 2005.

REFERENCE AND ADMINISTRATIVE DETAIL OF THE CHARITY, ITS TRUSTEES AND ADVISERS

Company Reg. No: 00440135 Charity Reg. No: 207163 Registered Office: Tavis House 1-6 Tavistock Square London. WC1H 9NA

Directors:

The Charitable company’s directors, who are also the trustees for the purposes of charity law, during the year to 30[th] September 2020 and to date were:

A. Barron

M. Ivory D. Kelly OBE T. Philpot J. Manthorpe

Chairman

Officers: Ms G.S. Crosby Company Secretary (Chief Executive Officer)

ADVISORS Bankers: Independent Examiner: Barclays Bank Plc Moses Sena Kpetigo MAAT MSc Box 544 VECTIDE Corporate 54 Lombard Street 2-4 Ravenstone Street London London EC3V 9EX SW12 9SS

Page 2

CENTRE FOR POLICY ON AGEING

DIRECTORS’ REPORT

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Instrument

The Centre for Policy on Ageing is a company limited by guarantee (each member having a liability of £1) and a registered charity.

The Charity is governed by Memorandum and Articles of Association dated 1[st] August 1947, as amended by Special Resolutions dated 24[th] April 1979 and 8[th] May 1997. These provide that, at the AGM, there may be nominated 3 directors by members and up to 3 directors by the directors. Up to 7 additional directors may be appointed by the directors between the AGMs, subject to an overall limit of 10 on the board. Directors serve for three years after which period they may put themselves forward for election for a further three years. The board meets at least quarterly.

Directors with the requisite skills and experience of issues relating to ageing, are recruited by introductions from existing directors and others who are familiar with the work of the charity. Prospective directors are asked to submit a curriculum vitae and are interviewed by the Chair and Chief Executive. They must be elected by the majority of directors.

New directors are provided with information concerning the charity’s history and recent activities including a copy of the Memorandum and Articles of Association, board minutes, and recent accounts. Those not familiar with the legal obligations and responsibilities of directors are provided with information published by organisations such as the Charity Commission.

The directors are responsible for the Charity’s strategy and responsibility for day to day administration is delegated to the Chief Executive.

Risk Management

The directors regularly examine the major strategic, business and operational risks which the Centre faces and confirm that systems have been established to enable regular reports to be produced, so that the necessary steps can be taken to mitigate these risks.

AIMS, OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT

The Centre for Policy on Ageing (CPA) aims to raise issues of public importance on matters to do with ageing and old age, to promote, debate and influence policy through research and the dissemination of information in ways that further the interests of older people. The charity also promotes good practice by enabling older people to lead fulfilled and independent lives.

The directors confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit, when reviewing the aims and objectives of the charity, and when planning future activities.

CPA continued to fulfil its objectives by developing its focus on enhancing the exchange and sharing of knowledge and information to keep policy makers, practitioners and researchers better informed about current issues affecting all older people. The key objectives during the year continued to be:

Page 3

CENTRE FOR POLICY ON AGEING

DIRECTORS’ REPORT

AIMS, OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT (Continued)

The Centre’s main activities are summarised below.

In 2020, work at the Centre for Policy on Ageing was seriously disrupted by the COVID-19 pandemic. The charity’s offices were closed in line with Government guidance. Remote access to CPA’s offices and resources was however, for the most part, maintained and staff and some volunteers were able to work from home.

In broad terms, CPA was able to maintain and update the information resources that remain at the core of its work. Underpinning its desire to create a comprehensive, proactive information infrastructure to match and support new initiatives in policy and practice, CPA hosts a resource on ageing and older age issues that is unique in the UK. A key element of this resource is AgeInfo which consists of a range of searchable, regularly updated databases. Each of these databases supplies a wealth of information from the UK and overseas on issues concerning ageing and older age. This includes data from books, journals, statistical sources, details about organisations and their work and a calendar of conferences and seminars. The AgeInfo website, including the ‘World of Ageing’ resource, which provides a gateway to further information resources on ageing.

The Ageinfo database platform also hosts an archive version of ChildData, a database on children’s issues from the National Children’s Bureau (NCB).

The Centre’s unique reference library on older age issues has continued to expand its collection which comprises around 62,000 items and is normally available to everyone for reference purposes and research. The library’s catalogues are available for searching online. Qualified information professionals are normally available to give advice and support by e-mail; telephone; post or in person. There are also study places within the Centre’s offices but during the COVID-19 pandemic all face-to-face contact was suspended.

New Literature on Old Age, a printed digest of new publications on ageing, was however issued six times in 2020.

The Centre’s regularly updated series of online selected Readings, contain abstracts on a range of topics including housing with care; abuse of older people; attitudes to ageing; mental health issues; financial matters; palliative care; and personalisation, are published on the CPA website. CPA also continues to maintain and update ‘Policies on Ageing’, a key online resource providing easy access to core policy documents, reports and briefings. Monthly updates to the popular ‘Events’ resource which highlights forthcoming conferences, seminars and courses in the field of ageing, were suspended during the period of the pandemic, when few events took place.

Page 4

CENTRE FOR POLICY ON AGEING

DIRECTORS’ REPORT

AIMS, OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT (Continued)

CPA is currently redeveloping the National Database of Ageing Research (NDAR), a freely available online resource of ageing research established by the charity. NDAR is a source of recent and ongoing research within the UK on all non-medical aspects of ageing and older age. NDAR makes current research activities easily accessible to researchers and users of research to help inform best practice, and develop a network of shared learning.

The charity continues to work in partnership with the Social Care Institute of Excellence (SCIE), The National Society for the Prevention of Cruelty to Children (NSPCC) and IDOX Information Service to update the Social Policy and Practice (SPP) database. This database, hosted by OVID, provides access to evidence-based social research on topics as poverty, equality, public health, social care, older age and children, housing, crime and law and order, and families.

In 2019-20 CPA continued to work in co-operation with the Centre for Ageing Better. CPA provided library and information service support for Centre for Ageing Better staff and, also provided the academic literature content for the monthly, Centre for Ageing Better, Research and Policy e-Alert.

During 2020 CPA continued to carry out commissioned literature searches and reviews included ‘The Value and Productivity of Older Workers’ and a series on local initiatives, in particular ‘The effectiveness of local befriending interventions’.

In 2020 CPA provided source material for the Industrial Strategy Healthy Ageing Challenge Fund Community of Practice Resource, hosted by the Centre for Ageing Better.

CPA is working on legacy phases of the Transitions in Later Life (TiLL) programme funded by Calouste Gulbenkian Foundation and is developing programmes looking at ageing across the life course from an arts perspective. CPA is also continuing to work on the Calouste Gulbenkian funded programme ‘Drivers of Ageism’.

CPA has also continued to collaborate with University College London, Department of Epidemiology and Public Health, on the ‘TOPIC‘ project, ‘Improving the oral health of older people in care homes’.

CPA’s staff work in collaboration with others through being members of various alliances; advisory groups; and editorial boards.

Trustees are pleased that the Centre has continued its close association with its interdisciplinary and international journal Ageing and Society , established by CPA in conjunction with the British Society of Gerontology. The journal is devoted to the understanding of human ageing and the circumstances of older people in their social and cultural contexts and is now issued monthly – and is owned and published by Cambridge University Press.

Page 5

CENTRE FOR POLICY ON AGEING

DIRECTORS’ REPORT

The charity’s website continues to be heavily used. In 2020 the website had just under two and a half million ‘hits’ and over 50,000 different visitors who downloaded 1.7 million web pages. Visitors were mainly from the United States, Great Britain, the Russian Federation, China and Germany. The most popular web page continues to be the ‘Policies on Ageing’ page while the most downloaded reports and reviews were Managing and Administering Medication in Care Homes , Changing Family Structures , Shall We Dance, Financial Abuse , The Changing Role of Care Homes , and Resilience and Recovery in Older Age . Typically 10,000 copies of CPA’s reports, reviews and readings are downloaded every month.

ACHIEVEMENTS AND PERFORMANCE

In addition to developing its programme of work looking at ageing across the lifecourse from an arts perspective, CPA has reached the second stage of a project with Community Catalysts, ‘Embracing ageing - coproducing a whole community response to a whole community issue’, which looks at how people in a neighbourhood can work together with local organisations and businesses to support an ageing society. The Centre remains an active member of a number of advisory groups, networks and as part of its commitment to the UK ageing network. CPA continues to maintain active links with other charities. CPA served on a number of advisory committees including for the Wolfson Foundation, University College London, In-Control and as an expert advisor to the National Institute for Health and Care Excellence (NICE).

FUTURE DEVELOPMENTS

The need for evidence informed policy and practice is as important as ever as the UK better understands the consequences of, and is therefore able to celebrate, an ageing population. The Centre holds and curates unique resources to inform policy along with a proven track record for reliable independent and well researched reports, reviews and projects that draw directly from the ‘evidence’ the charity holds. It is therefore the aim of the trustees to build close collaborative and strategic partnerships with others – including the What Works Centres. This, they believe, will directly fulfil the charity’s central objective of its work being of benefit to the public.

CPA continues to develop projects looking at ageing across the life course from an arts perspective. Trustees and staff are also actively seeking to create alliances with key funders and stakeholders to secure longer term funding and programmes of work for the future. Along with many other charities CPA is facing financially challenging times and seeks to expand its portfolio of project work and maintain its income from its information resources while seeking ways to keep costs to a minimum

REVIEW OF FINANCIAL ACTIVITIES

Income for the year fell by £30,544 from £111,123 to £80,579, while expenditure fell by £4,042 from £182,120 to £178,078. £73,549 (41%) of expenditure was employer’s pension deficit payments.

Gross wages and salaries remained unchanged at £54,285 while pension deficit payments increased from £28,283 to £73,549. Rent and service charge payments fell from £45,230 to £28,830 so that total support costs also fell from £63,070 to £43,527. Overall, expenditure exceeded income by £97,499.

The Charity’s unrestricted funds at the year-end were £173,612 whilst net current assets amounted to £209,958 suggesting a sufficient margin of solvency to allow the Charity to continue to operate in the near future. The Trustees however are aware that the Charity’s ability to continue operations in the longer term depends on its ability to win contracts and bids for grant funding as well as seeking partnerships

Page 6

CENTRE FOR POLICY ON AGEING

DIRECTORS’ REPORT

Going Concern

Note 14 to the accounts explains that the company’s ability to continue as a going concern is dependent on it being able to secure fresh sources of income. Project bids and support funding are being pursued and efforts made to contain costs within the constraints of the income available. Overall, it is appropriate to produce the accounts on a going concern basis.

Reserves policy

The directors regularly review the requirement for free reserves, and the search for additional funding streams, to secure the future of the charity, continues in earnest. At the year end the total of unrestricted reserves excluding those invested in fixed assets was £173,612.

STATEMENT OF RESPONSIBILITIES OF DIRECTORS

The Directors are responsible for preparing the Annual Report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law and the law applicable to charities in England and Wales requires the Charity Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charitable Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Directors are required to:-

The Trustees are responsible for keeping proper accounting records which 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 Companies Act 2006. 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.

This report has been prepared in accordance with the special provision of Part 15 of the Companies Act 2006 relating to small companies.

This report was approved by the Trustees on 18 June 2021 and signed on behalf of the Board:-

ON BEHALF OF THE BOARD

G. S. Crosby Company Secretary

INDEPENDENT EXAMINER’S REPORT TO

THE TRUSTEES OF

CENTRE FOR POLICY ON AGEING (‘the Company’)

I report to the charity trustees on my examination of the accounts of the Company for the year ending 30 September 2020.

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirement of Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent Examiner’s statement

I have completed my examination. I confirm that no matter have come to my attention in connection with the examination giving me cause to believe that:

I have no concerns and have come across 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.

Signed ………………………………………………………. Date ……………………………………..

Moses Sena Kpetigo (aka Moses Sena) MAAT MSc VECTIDE Corporate 2-4 Ravenstone Street London SW12 9SS

Page 8

CENTRE FOR POLICY ON AGEING

STATEMENT OF FINANCIAL ACTIVITIES (SOFA) INCLUDING THE INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30TH SEPTEMBER 2020

Income & Endowments from:
Donations & Legacies
Charitable activities
2
Investments
Grant
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
4
Net expenditure for the year
Net income after transfers
Net movement in funds
Reconciliation of funds:-
Total funds brought forward
Total funds carried forward
13		 Unrestricted
Funds
2020
£
73,667
1,431
1,000
76,098
173,597
173,597
(97,499)
(97,499)
(97,499)
271,111
173,612		 Restricted
Funds
2020
£


4,481
4,481

4,481
4,481
-
-
-
37,182
37,182		 Total
Funds
2020
£
73,667
1,431
5,481
80,579

178,078
178,078
(97,499)
(97,499)
(97,499)
308,293
210,794		 Total
Funds
2019
£
109,813
1,310
111,123
182,120
182,120
(70,997)
(70,997)
(70,997)
379,290
308,293

All recognised gains and losses are included in the Statement of Financial Activities.

None of the charity’s activities were acquired or discontinued during the current or preceding financial years. There is no difference between the result reported above and its historical cost equivalent.

Page 9

CENTRE FOR POLICY ON AGEING BALANCE SHEET AS AT 30TH SEPTEMBER 2020

Notes 2020 2019
£ £
Fixed assets 6
Tangible assets 836 1,154
Current assets
Debtors 7 18,755 43,419
Cash at bank and in hand 8 210,728 283,014
Total current assets 229,483 326,433
Creditors: amounts falling due within
one year 9 (19,525) (19,294)
Net current assets 209,958 307,139
The total net assets of the charity 210,794 308,293
Restricted funds
Restricted Revenue Funds 10 37,182 37,182
Unrestricted Revenue Funds 13 173,612 271,111
Total charity funds 210,794 308,293

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2020. The trustees have not required the charitable company to obtain an audit of its financial statements for the year ended 30 September 2020 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for:

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies and with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The Directors approved these accounts on 18 June 2021

Des Kelly (Chairman)

Company Registration No: 00440135

Page 10

CENTRE FOR POLICY ON AGEING

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30TH SEPTEMBER 2020

1. ACCOUNTING POLICIES

Depreciation is calculated to write off the cost of fixed assets on a straight-line basis over the useful economic lives of the assets concerned. Office equipment is depreciated at the rate of 20% and computer software and equipment is depreciated at the rate of 25%. Leasehold improvements are depreciated over the life of the lease.

Recently aspects of this scheme have been identified as having deferred benefit implications. As the actuary has confirmed that the assets and liabilities of these aspects can’t be allocated between participating employers, pension costs under FRS17 continue to be accounted for as payments to the scheme fall due. These aspects do however give rise to a contingent liability which is outlined in Note 16 to the accounts.

Page 11

CENTRE FOR POLICY ON AGEING NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 30th SEPTEMBER 2020

2. Income from charitable activities

2. Income from charitable activities
Total income from charitable trading
Total Charitable income from funders
Total from charitable activities


Investment income

Bank Interest Receivable
Total investment income

Primary purpose


Contracts for Services
Subscriptions
Library Royalties
Total Primary purpose and ancillary
trading		 Unrestricted
Funds
£

2020
73,667
1,000
74,667
Unrestricted
Funds
2020
£


1,431
1,431
Unrestricted
Funds
2020
£

38,806
5,423
29,438
73,667		 Restricted
Funds
£

2020
-
4,481
4,481
Restricted
Funds
2020
£

-
-
Restricted
Funds
2020
£

-
-
-
-		 Total
Funds

£

2020
73,667
5,481
79,148
Total
Funds

2020
£

1,431
1,431
Total
Funds

2020
£

38,806
5,423
29,438

73,667		 Total
Funds
£
2019
85,822
23,991
109,813
Total
Funds
2019
£
1,310
1,536
Total
Funds
2019
£
52,000
5,806
28,016
85,822

Page 12

CENTRE FOR POLICY ON AGEING NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 30th SEPTEMBER 2020

Charitable income from funders

Unrestricted
Funds		 Restricted
Funds		 Total Funds Total
Funds
2020 2020 2020 2019
£
 £
 £ £
- 4,481 4,481 22,991
1,000 - 1,000 1,000
1,000 4,481 5,481 23,991
Unrestricted
Funds
2020
£		 Restricted
Funds
2020
£		 Total Funds
2020
£		 Total
Funds
2019
£
Grants

Calouste Gulbenkian
-
Wolfson
1,000
Total Grants
1,000
3. Expenditure on charitable activities - Direct spending
Unrestricted
Funds
2020
£

Gross wages and salaries - charitable
activities
54,285
Employers' NI - Charitable activities
(5,871)
Pension
5,429
Pension Deficit
73,549
Project Delivery Consultants
-
Total direct spending
127,392
-
1,000
1,000		 4,481
-
4,481		 4,481
1,000
5,481		 22,991
1,000
23,991
Restricted
Funds
2020
£
-
-
-
-
4,481
4,481		 Total
Funds
2020
£
54,285
(5,871)
5,429
73,549
4,481
131,873		 Total
Funds
2019
£
54,285
5,181
5,429
28,483
22,991
116,369

Page 13

CENTRE FOR POLICY ON AGEING NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 30TH SEPTEMBER 2020

Support costs for charitable activities

Employee costs not included in direct
costs
Payroll fees and charges
Finance Officer
Premises Expenses
Rent payable under operating leases
Administrative overheads
Telephone, fax and internet
Postage
Stationery and printing
Books/Journals/CDs
Membership subscriptions
Equipment expenses
Software licences and expenses
Liability and contents insurance
Sundry expenses
Professional fees paid to advisors other
Consultancy fees
Financial costs
Bank charges
Depreciation & Amortisation in total for
the period
Total support costs		 Unrestricted
Funds
Restricted
Funds
2020
2020
£
£

924
-
203
-

28,380
-

2,961
-
64
-
598
-
2,505
-
563
-
1,798
-
3,003
-
1,371
-
426
-
than the auditor or examiner
-
-
414
-
317
-
43,527
-		 Total
Funds
2020
£

924
203

28,380

2,961
64
598
2,505
563
1,798
3,003
1,371
426
-
-
414
317
43,527		 Total
Funds
2019
£
1,062
296
45,230
2,978
243
1,652
2,274
435
1,320
2,500
1,532
2,061
750
619
118
63,070

Page 14

CENTRE FOR POLICY ON AGEING NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 30TH SEPTEMBER 2020

Other Expenditure - Governance costs


Independent Examiner's fees
Trustees' expenses
Reporting Accountant fees

Total Governance costs
Total Charitable expenditure

Total direct spending
Total support costs
Total Governance costs

Total charitable expenditure		 Unrestricted
Funds
2020
£

800
78
1,800

2,678
Unrestricted
Funds
2020
£

127,392
43,527
2,678

173,597		 Restricted
Funds
2020
£
-
-
-
-
Restricted
Funds
2020
£
4,481
-
-
4,481		 Total Funds
2020
£

800
78
1,800

2,678
Total Funds
2020
£

131,873
43,527
2,678

178,078		 Total
Funds
2019
£
800
81
1,800
2,681
Total
Funds
2019
£
116,369
63,070
2,681
182,120

4. DIRECTORS' EMOLUMENTS AND EXPENSES

The Articles of Association provide that no remuneration should be paid to the Directors and none has been paid. A total of £78 (2019: £81) was reimbursed to the Directors during the year. These payments were for travel incurred for attending meetings.

Page 15

CENTRE FOR POLICY ON AGEING NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 30TH SEPTEMBER 2020

5. TAXATION

The Centre for Policy on Ageing is a registered charity and is potentially exempt from taxation in respect of income and capital gains received within the categories covered by Part II of the Corporation Tax Act 2010 and the Taxation of Chargeable Gains Act 1992 to the extent that such income or gains are applied exclusively to charitable purposes.

6. FIXED ASSETS

Cost
At 1st October 2019
Additions
Disposals
At 30th September 2020
Depreciation
At 1st October 2019
Provided in the Year
Disposals
At 30th September 2020
Net Book Value
At 30th September 2020
Net Book Value
At 30th September 2019
7. DEBTORS
Prepayments
Trade Debtors		 Office
Equipment &
Fixtures
£
519
-
-
519		 Computer
Software &
Equipment
£
82,159
-
-
82,159
81,507
214
-
81,721
438
652		 Total
£
82,678
-
-
82,678
17
104
-
121
398
502
2020
£
17,674
1,081
18,755		 81,524
318
-
81,842
836
1,154
2019
£
8,537
22,910
31,447

Page 16

CENTRE FOR POLICY ON AGEING NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 30th SEPTEMBER 2020

8. BANK
Cash at Bank
Short Term Deposits
9. CREDITORS
Accruals and Deferred Income
Other Creditors
Taxation and Social Security
Subscriptions received in advance		 2020
47,931
162,797
210,728
2020
£
20,294
-
(2,944)
2,175
19,525		 2019
31,593
251,421
283,014
2019
£
15,415
833
560
2,486
19,294

10. RESTRICTED FUNDS

Marjory Warren Memorial Fund
Marjory Warren Charity Fund
Nationwide Foundation
Calouste Gulbenkian		 Balance
Brought
Forward
£
7,511
6,468
23,203
-
37,182		 Income
£
-
-
-
4,481
4,481		 (Expenditure)
£
-
-
-
(4,481)
(4,481)		 Balance
Carried
Forward
£
7,511
6,468
23,203
-
37,182

Page 17

CENTRE FOR POLICY ON AGEING NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 30TH SEPTEMBER 2020

11. RESTRICTED FUNDS (Continued)

Marjory Warren Funds

These funds' purpose is to enable those working with older people in any capacity to improve their knowledge of these issues and the effectiveness of education and information policy in the field.

Nationwide Foundation

Funds from the Nationwide Foundation relate to the financial wellbeing of older people and to help older people to better manage their affairs.

Calouste Gulbenkian

The original funds allowed CPA, as part of the Transitions in Later Life programme, to develop and run a number of courses entitled ‘Restor(y)ing retirement’, designed to help older people make the transition into retirement through storytelling, coaching and change management. Supplementary funding has allowed the development of programmes exploring ageing from an arts perspective and drivers of ageism.

12. CONTINGENT LIABILITIES

Whilst the Centre for Policy on Ageing now only contributes to a Pensions Trust defined contribution pension scheme on behalf of its employees, in past years some contributions were paid to the Pensions Trust Growth Plan which incorporated certain aspects of a defined benefit scheme. In consequence, were the Centre for Policy on Ageing to cease operations or to cease to employ any active members of the pension trust scheme, an employer debt on withdrawal could arise. The Scheme’s actuary confirmed CPA’s outstanding employer’s deficit, at September 30th 2015, was £759,901. CPA agreed to pay £25,000 p.a. (increasing by 3% each April) to reduce the deficit. CPA have no intention of withdrawing from the Scheme and it is the Directors’ intention that CPA will continue to operate for the foreseeable future (note 17).

13. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Tangible Fixed Assets
Current Assets
Creditors falling due within one year
TOTAL NET ASSETS		 Restricted
Funds
£
-
37,182
-
37,182		 Unrestricted
Funds
£
836
192,301
(19,525)
173,612		 Total
Funds
£
836
229,483
(19,525)
210,794

Page 18

CENTRE FOR POLICY ON AGEING

NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 30TH SEPTEMBER 2020

14. GOING CONCERN

In common with a number of charities of similar size, The Centre for Policy on Ageing’s ability to continue as a going concern for the foreseeable future, depends on its ability to secure grants and contracts from various agencies, as well as legacy and other income.

A number of bids are being pursued and, the trustees are confident that the actions currently in progress, future bids, and legacy income due will allow the charity to continue to operate for the foreseeable future. Significant cost reductions, other than rent, have been implemented and managers are alert to all possibilities of making further cost savings. Relations with existing funding bodies are cordial and CPA anticipates that additional income streams from these funding bodies will materialise. The trustees have therefore concluded that it remains appropriate to prepare the accounts on a going concern basis and in forming this judgement they have taken note of cash flow and profit forecasts for the period to 30 September 2020.