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2021-09-30-accounts

CENTRE FOR POLICY ON AGEING

ANNUAL REPORT AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2021

Company Registration No: 00440135 Charity Registration No: 207163

CENTRE FOR POLICY ON AGEING

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30th SEPTEMBER 2021

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 2021. 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: 26-28 Hammersmith Grove
London
W6 7HA

Directors:

The Charitable company’s directors, who are also the trustees for the purposes of charity law, during the year to 30[th] September 2021 and to date were:

A. Barron M. Ivory D. Kelly OBE Chairman T. Philpot J. Manthorpe

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 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.

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. The main AgeInfo bibliographic database holds searchable information about books, journal articles and statistical sources, while other databases hold details about organisations and their work, research, and a calendar of conferences and seminars. The AgeInfo website, includes the ‘World of Ageing’ resource, which provides a gateway to further information resources on ageing.

The AgeInfo database platform also hosts archive versions of the ChildData, and Single Assessment Process (SAP) databases.

The Centre’s unique reference library on older age issues has continued to expand its collection which comprises over 60,000 items and is available to everyone for reference purposes and research. The library’s catalogues are available for searching online. Qualified information professionals are available to give advice and support by e-mail; telephone; post or in person.

New Literature on Old Age, previously in printed form, is now a quarterly digest of new publications on ageing, sent to subscribers and published online, on the CPA website, as an interactive pdf document.

.

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. CPA also continues to maintain and update ‘Policies on Ageing’, a key online resource providing easy access to core policy documents, reports and briefings. It also provides monthly updates to the popular ‘Events’ resource which highlights forthcoming conferences, seminars and courses in the field of ageing.

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.

CPA continues to work in co-operation with the Centre for Ageing Better. CPA provides the academic literature content for the Centre for Ageing Better monthly Research and Policy e-Alert and also provided content for the Centre for Ageing Better - Industrial Strategy Healthy Ageing Challenge Fund Community of Practice Resource.

Page 4

CENTRE FOR POLICY ON AGEING

DIRECTORS’ REPORT

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

The directors are pleased that during 2020/21, including during the periods of Covid-19 lockdown, the Centre continued to work on commissioned literature searches and reviews including a rapid review on Minority Ethnic Older People in the UK. Staff also started work on the preservation of the charity’s archives and directors would like to thank the National Archives for their support.

In this accounting period, the charity was able to overhaul and update the Selected Readings which cover a range of subjects on well-being and quality of life and include financial inclusion. As part of this work on broadening information accessibility it was decided to convert New Literature on Old Age from a printed bulletin to an interactive pdf document published online. Directors are grateful to the Nationwide Foundation as this important work was made possible by the remaining balance £23,203 from the restricted fund.

CPA continued to work on the Transitions in Later Life (TiLL) legacy programme, funded by Calouste Gulbenkian Foundation, and anti-ageism programmes including ‘Drivers of Ageism’ and ‘A Lifecourse Approach to Ageism’. During this period, directors report that CPA continued its collaboration with University College London, Department of Epidemiology and Public Health, on the ‘TOPIC‘ project, ‘Improving the oral health of older people in care homes’.

The charity’s staff continue work in collaboration with others in the sector through being members of various alliances; advisory groups; and editorial boards.

Directors 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. Owned and published by Cambridge University Press, the journal is now issued monthly.

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, 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, the charity has also made good progress in increasing accessibility to its information services and resources through its Selected Readings and now digitally available New Literature on Old Age.

Page 5

CENTRE FOR POLICY ON AGEING

DIRECTORS’ REPORT

In 2020/21, the Centre was 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.

Directors are pleased that the charity 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 directors to continue with building close collaborative and strategic partnerships with others – including the What Works Centres. They are also keen to develop the programme of work on preservation, cataloguing and eventual rehousing the charity’s archives in order to ensure their longer term stability and accessibility. 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. Directors and staff are also actively seeking to create alliances with key funders and stakeholders to secure longer term funding for its 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 which include addressing premises requirements.

REVIEW OF FINANCIAL ACTIVITIES

Income for the year fell by £26,217 to £54,362 from £80,579 while expenditure fell by £60,450 to £117,628 from £178,078. £38.644 (33%) of expenditure was employer’s pension deficit payments.

Gross wages and salaries remained unchanged at £54,285 while pension deficit payments reduced from £73,549 to £38,644. Rent and service charge payments fell considerably from £28,830 to £4,766 so that total support costs also fell from £43,527 to £15,340. Overall, expenditure exceeded income by £37,049, a figure more than fully matched by pension deficit payments.

The Charity’s unrestricted funds at the year-end were £133,550 and net current assets were £147,529 suggesting a sufficient margin of solvency to allow the Charity to continue to operate in the immediate future. The Directors 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 17 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 £133,550.

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 Directors 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 Directors 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 Directors on 23 June 2022 and signed by order of the Board:-

BY ORDER 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 2021.

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 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 2021

Income & Endowments from:
Donations & Legacies
Charitable activities
2
Investments
Grant
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
3
Net expenditure for the
year
Net movement in funds
Reconciliation of funds:-
Total funds brought
forward
Total funds carried forward
12		 Current
year
Unrestricted
Funds
2021
£
48,677
22
3,000
51,699
91,761
91,761
(40,062)
(40,062)
173,612
133,550		 Current
year
Restricted
Funds
2021
£
2,663
2,663
25,866
25,866
(23,203)
(23,203)
37,182
13,979		 Current
year
Total
Funds
2021
£
48,677
22
5,663
54,362
117,627
117,627
(63,265)
(63,265)
210,794
147,529		 Prior
year
Total
Funds
2020
£
73,667
1,431
5,481
80,579
178,078
178,078
(97,499)
(97,499)
308,293
210,794

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 2021

Notes 2021 2020
£ £
Fixed assets 6
Tangible assets 518 836
Current assets
Debtors 7 16,978 18,755
Cash at bank and in hand 8 150,168 210,728
Total current assets 167,146 229,483
Creditors: amounts falling due within one year 9 (20,135) (19,525)
Net current assets 147,011 209,958
The total net assets of the charity 147,529 210,794
Restricted funds
Restricted Revenue Funds 10 13,979 37,182
Unrestricted Revenue Funds 12 133,550 173,612
Total charity funds 147,529 210,794

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2021. The trustees have not required the charitable company to obtain an audit of its financial statements for the year ended 30 September 2021 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 23 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 2021

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 2021

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
£
2021
48,677
3,000
51,677
Unrestricted
Funds
2021
£
22
22
Unrestricted
Funds
2021
£
7,150
4,373
37,154
48,677		 Restricted
Funds
£
2021
-
2,663
2,663
Restricted
Funds
2021
£
-
-
Restricted
Funds
2021
£
-
-
-
-		 Total
Funds
£
2021
48,677
5,663
54,340
Total
Funds
2021
£
22
22
Total
Funds
2021
£
7,150
4,373
37,154
48,677		 Total
Funds
£
2020
73,667
5,481
79,148
Total
Funds
2020
£
1,431
1,536
Total
Funds
2020
£
38,806
5,423
29,438
73,667

Page 12

CENTRE FOR POLICY ON AGEING NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 30th SEPTEMBER 2021

Charitable income from funders

Charitable income from funders
Grants
Calouste Gulbenkian
The National Archives
Wolfson
Total Grants		 Unrestricted
Funds
2021
£
-
2,000
1,000
3,000		 Restricted
Funds
2021
£
2,663
-
2,663		 Total
Funds
2021
£
2,663
2,000
1,000
5,663		 Total
Funds
2020
£
4,481
-
1,000
5,481
3 Expenditure on charitable activities - Direct spending
Gross wages and salaries - charitable activities
Employers' NI - Charitable activities
Pension
Pension Deficit
Project Delivery Consultants
Total direct spending
Unrestricted
Funds
2021
£
34,252
-
3,425
38,644
-
76,321		 Restricted
Funds
2021
£
20,033
-
2,003
-
1,330
23,366		 Total
Funds
2021
£
54,285
-
5,428
38,644
1,330
99,687		 Total
Funds
2020
£
54,285
(5,871)
5,429
73,549
4,481
131,873

Page 13

CENTRE FOR POLICY ON AGEING NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 30TH SEPTEMBER 2021

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
Financial costs
Bank charges
Depreciation & Amortisation in total for
the period
Total support costs		 Current
year
Unrestricted
Funds
2021
£
134
250
4,766
3,043
158
296
-
328
1,030
505
1,450
27
535
318
12,840		 Current
year
Restricted
Funds
2021
£
-
-
-
-
-
-
2,500
-
-
-
-
-
-
-
2,500		 Current
year
Total
Funds
2021
£
134
250
4,766
3,043
158
296
2,500
328
1,030
505
1,450
27
535
318
15,340		 Prior
year
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

Page 14

CENTRE FOR POLICY ON AGEING NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 30TH SEPTEMBER 2021

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		 Current
year
Unrestricted
Funds
2021
£
800
-
1,800
2,600
Current year
Unrestricted
Funds
2021
£
76,321
12,840
2,600
91,761		 Current
year
Restricted
Funds
2021
£
-
-
-
-
Current year
Restricted
Funds
2021
£
25,866
-
-
25,866		 Current
year
Total
Funds
2021
£
800
-
1,800
2,600
Current
year
Total
Funds
2021
£
102,187
12,840
2,600
117,627		 Prior
year
Total
Funds
2020
£
800
78
1,800
2,678
Prior Year
Total
Funds
2020
£
131,873
43,527
2,678
178,078

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 £0 (2020: £78) was reimbursed to the Directors during the year. These payments were for travel incurred for attending meetings.

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.

Page 15

CENTRE FOR POLICY ON AGEING NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 30TH SEPTEMBER 2021

6 FIXED ASSETS
Cost
At 1st October 2020
Additions
Disposals
At 30th September 2021
Depreciation
At 1st October 2020
Provided in the Year
Disposals
At 30th September 2021
Net Book Value
At 30th September 2021
Net Book Value
At 30th September 2020		 Office
Equipment &
Fixtures
£
519
-
-
519		 Computer
Software &
Equipment
£
82,159
-
-
82,159
81,721
214
-
81,935
224
438		 Total
£
82,678
-
-
82,678
121
104
-
225
294
398		 81,842
318
-
82,160
518
836

Page 16

CENTRE FOR POLICY ON AGEING NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 30th SEPTEMBER 2021

7. DEBTORS

7. DEBTORS
Prepayments
Trade Debtors		 2021
£
15,482
1,495
16,977		 2020
£
17,674
1,081
18,755
8. BANK
Cash at Bank
Short Term Deposits		 2021
£
17,355
132,813
150,168		 2020
£
47,931
162,797
210,728

9. CREDITORS

Accruals and Deferred Income
Other Creditors
Taxation and Social Security
Subscriptions received in advance		 2021
£
17,631
29
57
2,418
20,135		 2020
£
20,294
-
(2,944)
2,175
19,525

Page 17

CENTRE FOR POLICY ON AGEING NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 30TH SEPTEMBER 2021

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
£
-
-
-
2,663
2,663		 (Expenditure)
£
-
-
(23,203)
(2,663)
(25,866)		 Balance
Carried
Forward
£
7,511
6,468
-
-
13,979

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.

11. 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).

Page 18

CENTRE FOR POLICY ON AGEING

NOTES TO THE ACCOUNTS (Continued) FOR THE YEAR ENDED 30TH SEPTEMBER 2021

12. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Tangible Fixed Assets
Current Assets
Creditors falling due within one
year
TOTAL NET ASSETS		 Restricted
Funds
£
-
13,979
-
13,979		 Unrestricted
Funds
£
518
153,166
(20,135)
133,549		 Total
Funds
£
518
167,145
(20,135)
147,528

13. 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 2022.