CHARITY REGISTRATION NUMBER: 270251
Age Connected
Unaudited financial statements
31 March 2023
Age Connected
Financial statements
Year ended 31 March 2023
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 |
Age Connected
Trustees' annual report
Year ended 31 March 2023
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2023.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, 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 published in October 2019.
Chair's report
We are very grateful for the immense support that we have received from various grant funders and trusts. Without which our centre would not be the thriving hub within our community as it is.
We regularly see between 300 and 400 individuals a week who use the centre for activities, information and support services. We have resumed a Monday lunch club and a Fish & Chip Friday, as these have proved well supported by our service users. We also have seated exercise classes which helps with mobility twice a week. We have a Remember Well place, a reminiscence group to help and support those which have dementia related illnesses and their carers.
The Tuesday Bingo session and Thursday's Bingo brunch have seen an increase in service users and are very popular events. Wednesdays is our digital inclusion sessions. We are seeing a positive impact of these sessions helping our service users access many services that are online only now. These sessions have built digital confidence to many. We also have a One O'clock rock on a Wednesday afternoon where we often have live music and dancing which enhances social connections within our service users. We continue to have monthly wool sales with the Norfolk Knitters & Stitchers, which brings many people to our centre.
Throughout this period, we have gained a whole new board of trustees, so we give a warm welcome to Alison Warner, Mick Castle, Ron Ellis and Paula Waters-Bunn. Without their support the centre would not be as thriving as it is. However, there are plenty more ideas and we are hopeful to progress our centre to make it more accessible to members of our community and encourage more people to use the services on offer here.
With the increase in our service users we have welcomed many new volunteers whose contributions are so valuable, without their support and dedication, we would not be able to provide the variety of services on offer. They truly are the heartbeat of Age Connected and help to provide people a safe and friendly atmosphere and environment. Without the volunteers there would be no Age Connected.
As a very small charity, we are focused on increasing our own income generation and this is proving successful with our donation station and café connect. We now have an onsite podiatry service with the hope to expand into other areas soon. We continue to have collaborative working relationships with other charities and organisations which gives people access to new hobbies, activities and friendships to service users. We are reducing social isolation and increasing inclusion for the over 50's throughout the borough of Great Yarmouth. We look forward to see the development of future projects and ideas with continued growth at what is fondly known as the "older people's youth club" of Great Yarmouth, where life enrichment and cuppa's are a plenty!
- 1 -
Trustees' annual report (continued)
Age Connected
Year ended 31 March 2023
Reference and administrative details Registered charity name Age Connected Charity registration number 270251 Principal office The Acorn Centre 8-9 Regent Street Great Yarmouth NR30 1RN
The trustees
The trustees who served during the year and at the date of approval were as follows:
Mr M Castle (appointed 17 November 2022) Mr R Ellis (appointed 17 November 2022) Ms A Warner (appointed 8 September 2022) Mrs P Waters-Bunn (appointed 4 July 2022) Mrs A Wyer (Treasurer) (resigned 1 March 2023) Mr M Jessup (resigned 30 September 2022) Mr P McGuinness (resigned 10 September 2022) Service Manager Andrea King Independent examiner Mark Proctor FCA DChA Lovewell Blake LLP Chartered accountants Bankside 300 Peachman Way Broadland Business Park Norwich NR7 0LB Bankers Lloyds Bank Plc 1-2 King Street Great Yarmouth Norfolk NR30 2BA Santander Plc 29-30 Market Place Great Yarmouth Norfolk NR30 1LY
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Trustees' annual report (continued)
Age Connected
Year ended 31 March 2023
Objectives and activities
The primary objective of the charity is, as always, working for the well-being of older people living in the borough of Great Yarmouth. The Charity does this by actively supporting people aged 50 years and over, by developing services and activities helping reduce loneliness and isolation, encouraging active participation, helping to improve mental health and well-being, promoting active healthier lifestyles and positive ageing, giving opportunities to try new things, meet new people, make new friends in a safe and supported environment. We believe older people should feel valued in their community as people with a contribution to make, helping build stronger communities.
The Trustees have taken due regard to the information published by the Charity Commission regarding public benefit. It is considered the charity provides a public benefit through:
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Actively supporting people aged over 50 years regardless of background, gender and faith, fully embracing equality and diversity and being fully inclusive.
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Ensuring older people are at the centre of all we do.
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Develop new services and activities to better support older people and to engage with as many older people as possible.
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Establishing new lunch groups and supporting existing Age Connected lunch groups across the borough, bringing older people together to enjoy a light lunch and an afternoon of fun and activities in a safe and supported environment. Helping to reduce loneliness and isolation.
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Develop new services to better support older people and new activities to engage with as many older people as possible.
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Establishing a strong working ethos with local and regional organisations bringing together joint working to promote social and emotional well-being by providing help and support to older people.
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Encourage volunteering in all ages, explaining the physical, mental and social benefits to both the supporter and supported. Working with schools, colleges and other agencies offering placements and volunteering opportunities.
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Provide appropriate training for volunteers, staff, and trustees for their individual roles, to improve their own skills, to share skills, developing happier, healthier active lives for themselves and our services users
Achievements and performance
See comments within the Chair's report.
Financial review
The results for the year are shown on pages 7 to 19. The charity has reported a deficit of £2,232 for the year (2022: deficit of £50,149).
Reserves policy
The Trustees have decided to hold a minimum of three months running costs within the reserves to ensure the continuation of services. The free reserves, represented by unrestricted net current assets, as at the 31 March 2023 were £47,543 (2022: £45,979).
Restricted funds being carried forward, as shown in note 18 of the accounts, amounted to £9,611 (2022: £12,660). The amounts carried forward represent funds to be used in future periods.
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Age Connected
Trustees' annual report (continued)
Year ended 31 March 2023
Plans for future periods
See comments with the Chair's report.
Structure, governance and management
Governing document
The charity is controlled by its governing document and constitutes an unincorporated charity.
Recruitment, appointment and training of Trustees
Trustees shall be persons who through residence, occupation, employment or otherwise have special knowledge of the area of benefit or who are otherwise able by virtue of their personal or professional qualifications to make a contribution to the pursuit of the objects of the charity.
On appointment, Trustees are provided with:
a) A copy of the constitution;
b) The Charity Commission guidance CC3 - "The Essential Trustee: what you need to know, what you need to do.";
c) A copy of the latest independently examined accounts.
In addition, the Trustees are encouraged to read Charity Commission and other newsletters and to attend courses designed to keep them abreast of their duties and responsibilities.
Risk management
The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure that appropriate controls are in place to provide reasonable assurance against fraud and error.
Organisational structure
The Trustees meet on a regular basis to discuss the plans for the charity and to monitor outcomes and ensure targets are met in accordance to funding requirements. The day to day management of the charity is delegated to the Services Manager who coordinates the development and activities of the charity along with the large group of volunteers.
True and fair override
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 Accounting and Reporting by Charities by charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 rather than Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Independent examiner
Mark Proctor FCA DChA of Lovewell Blake LLP will be reappointed as independent examiner for the ensuing year.
- 4 -
Trustees' annual report (continued)
Age Connected
Year ended 31 March 2023
31/1/2024 The trustees' annual report was approved on .............................. and signed on behalf of the board of trustees by:
Mr M Castle Trustee
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Age Connected
Independent examiner's report to the trustees of Age Connected
Year ended 31 March 2023
I report to the charity trustees on my examination of the financial statements of the charity for the year ended 31 March 2023 which are set out on pages 7 to 19.
Responsibilities and basis of report
As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the charity's financial statements carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.
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.
Your attention is drawn to the fact that the Charity has prepared the accounts (financial statements) in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has since been withdrawn.
I understand that 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.
Mark Proctor FCA DChA Independent Examiner
Lovewell Blake LLP Chartered accountants Bankside 300 Peachman Way Broadland Business Park Norwich NR7 0LB
31/1/2024
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Age Connected
Statement of financial activities
Year ended 31 March 2023
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 4 | 8,096 | 49,930 | 58,026 | 11,854 |
| Charitable activities | 5 | 43,180 | 14,275 | 57,455 | 26,206 |
| Other trading activities | 6 | 6,635 | – | 6,635 | 8,377 |
| Investment income | 7 | 44 | – | 44 | 5 |
| Other income | 8 | – | – | – | 1,311 |
|
|
|
|
||
| Total income | 57,955 | 64,205 | 122,160 | 47,753 | |
|
|
|
|
||
| Expenditure | |||||
| Charitable activities | 9 | (34,446) | (89,946) | (124,392) | (97,902) |
|
|
|
|
||
| Total expenditure | (34,446) | (89,946) | (124,392) | (97,902) | |
|
|
|
|
||
| Net expenditure before transfer of funds | 23,509 | (25,741) | (2,232) | (50,149) | |
| Transfers between funds | (22,692) | 22,692 | – | – | |
|
|
|
|
||
| Net movement in funds | 817 | (3,049) | (2,232) | (50,149) | |
| Reconciliation of funds | |||||
| Total funds brought forward | 47,538 | 12,660 | 60,198 | 110,347 | |
|
|
|
|
||
| Total funds carried forward | 48,355 | 9,611 | 57,966 | 60,198 | |
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|
|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 9 to 19 form part of these financial statements.
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Age Connected
Balance sheet
31 March 2023
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | £ | £ | |
| Fixed assets | |||||
| Tangible fixed assets | 14 | 812 | 1,559 | ||
| Current assets | |||||
| Debtors | 15 | 9,575 | 14,632 | ||
| Cash at bank and in hand | 63,463 | 49,386 | |||
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|
||||
| 73,038 | 64,018 | ||||
| Creditors: Amounts falling due within | |||||
| one year | 16 | (15,884) | (5,379) | ||
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|
||||
| Net current assets | 57,154 | 58,639 | |||
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|
||||
| Total assets less current liabilities | 57,966 | 60,198 | |||
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|
||||
| Funds of the charity | |||||
| Restricted funds | 9,611 | 12,660 | |||
| Unrestricted funds | 48,355 | 47,538 | |||
|
|
||||
| Total charity funds | 17 | 57,966 |
60,198 |
These financial statements were approved by the board of trustees and authorised for issue on 31/1/2024 ........................, and are signed on behalf of the board by:
Mr M Castle Trustee
The notes on pages 9 to 19 form part of these financial statements.
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Age Connected
Notes to the financial statements
Year ended 31 March 2023
1. General information
The charity is a registered charity in England and Wales and is unincorporated. The address of the principal office is 8-9 Regent Street, Great Yarmouth, NR30 1RN, Norfolk.The principal activity of the charity is discussed in the trustees report.
2. Statement of compliance
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.
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 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 issued 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.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis.
(b) Going concern
The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist.
The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months
With the positive growth of Age Connected and a strong future development strategy, the charity has worked with passion and dedication responding to the increasing need for its support and services as a recognised priority service for older people in the Borough of Great Yarmouth, the Trustees are confident and supportive in the continuation as an independent local charity.
They are also satisfied that the income and expenditure and reserves are sufficient for the charity to be able to continue as a going concern.
(c) Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or committment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal.
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Age Connected
Notes to the financial statements (continued)
Year ended 31 March 2023
3. Accounting policies (continued)
(d) Income
All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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Income from donations and legacies is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
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Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included in these accounts.
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Investment income is included when receivable.
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Income from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.
(e) Expenditure
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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Charitable activities comprise those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
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Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the independent examiner fees and costs linked to the strategic management of the charity.
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All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis.
(f) Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
(g) Pension costs
The charity operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the charity. The annual contributions payable are charged to the statement of financial activities.
(h) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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Age Connected
Notes to the financial statements (continued)
Year ended 31 March 2023
3. Accounting policies (continued)
(i) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & fittings - 33% straight line Computer equipment - 33% straight line Equipment - 33% straight line
(j) Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
4. Donations and legacies
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Donations | |||
| Donations | 5,995 | – | 5,995 |
| Grants | |||
| Grants | 2,101 | 49,930 | 52,031 |
|
|
|
|
| 8,096 | 49,930 | 58,026 | |
|
|
|
|
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Donations | |||
| Donations | 2,655 | 699 | 3,354 |
| Grants | |||
| Grants | – | 8,500 | 8,500 |
|
|
|
|
| 2,655 | 9,199 | 11,854 | |
|
|
|
£3,200 (2022: £2,000) of government grants were received during the year.
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Age Connected
Notes to the financial statements (continued)
Year ended 31 March 2023
5. Charitable activities
| Unrestricted | Restricted | Total Funds | |||
|---|---|---|---|---|---|
| Funds | Funds | 2023 | |||
| £ | £ | £ | |||
| Big Lottery Fund | – | 14,275 | 14,275 | ||
| Acorn activities | 43,180 | – | 43,180 | ||
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| 43,180 | 14,275 | 57,455 | |||
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| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2022 | |||
| £ | £ | £ | |||
| Big Lottery Fund | – | – | – | ||
| Acorn activities | 26,206 | – | 26,206 | ||
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| 26,206 | – | 26,206 | |||
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| 6. | Other trading activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Fundraising events | – | – | 227 | 227 | |
| Building income | 6,635 | 6,635 | 8,150 | 8,150 | |
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||
| 6,635 | 6,635 | 8,377 | 8,377 | ||
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||
| 7. | Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Bank interest | 44 | 44 | 5 | 5 | |
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||
| 8. | Other income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Furlough income | – |
– |
1,311 |
1,311 |
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Age Connected
Notes to the financial statements (continued)
Year ended 31 March 2023
9. Expenditure on charitable activities
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Salaries | – | 48,444 | 48,444 |
| Sundry activity costs | 6,257 | 23,046 | 29,303 |
| Rent and rates | 9,000 | 9,000 | 18,000 |
| Electricity and water | 6,337 | 3,160 | 9,497 |
| Telephone | 1,299 | – | 1,299 |
| Insurance | 4,427 | – | 4,427 |
| Repairs and renewals | 766 | 4,982 | 5,748 |
| Office costs | 683 | 877 | 1,560 |
| Sundries | 736 | 437 | 1,173 |
| Depreciation | 747 | – | 747 |
| Volunteer expenses | 559 | – | 559 |
| Professional fees | 59 | – | 59 |
| Governance costs (see below) | 3,576 | – | 3,576 |
|
|
|
|
| 34,446 | 89,946 | 124,392 | |
|
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|
| Analysis of governance costs: | |||
| Unrestricted | Restricted | Total Funds | |
| Funds | funds | 2023 | |
| £ | £ | £ | |
| Independent examination fees - current year | 2,916 | – | 2,916 |
| Other professional fees | 660 | – | 660 |
|
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| 3,576 | – | 3,576 | |
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|
|
Grants to individuals
During the year, as part of the Household Support Funding received by the charity, grants of £150 each were given to 35 individuals, totalling £5,250 as a contribution towards winter costs (2022: £nil).
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | funds | 2022 | |
| £ | £ | £ | |
| Salaries | 33,957 | 15,548 | 49,505 |
| Training, recruitment and expenses | 156 | – | 156 |
| Sundry activity costs | 8,120 | – | 8,120 |
| Rent and rates | 13,692 | 4,500 | 18,192 |
| Electricity and water | 5,402 | – | 5,402 |
| Telephone | 1,857 | – | 1,857 |
| Insurance | 4,910 | – | 4,910 |
| Repairs and renewals | 2,091 | – | 2,091 |
| Office costs | 2,939 | 304 | 3,243 |
| Sundries | 1,127 | – | 1,127 |
| Depreciation | 606 | – | 606 |
| Volunteer expenses | – | 91 | 91 |
| Governance costs (see below) | 2,602 | – | 2,602 |
|
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|
|
| 77,459 | 20,443 | 97,902 | |
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| Analysis of governance costs: | |||
| Unrestricted | Restricted | Total Funds | |
| Funds | funds | 2022 | |
| £ | £ | £ | |
| Independent examination fees - current year | 2,602 | – | 2,602 |
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Age Connected
Notes to the financial statements (continued)
Year ended 31 March 2023
|
|
|
|
|---|---|---|---|
| 10. | Net expenditure | ||
| Net expenditure is stated after charging/(crediting): | |||
| 2023 | 2022 | ||
| £ | £ | ||
| Depreciation of tangible fixed assets | 747 | 606 | |
| Operating lease costs | 18,000 | 18,000 | |
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||
| 11. | Independent examination fees | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Fees payable to the independent examiner for: | |||
| Independent examination of the financial statements | 2,916 | 2,602 | |
| Other financial services | 660 | – | |
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| 3,576 | 2,602 | ||
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| 12. | Staff costs | ||
| The total staff costs and employee benefits for the reporting period are | analysed as follows: | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Wages and salaries | 46,604 | 47,436 | |
| Social Security costs | – | 230 | |
| Other pension costs | 1,840 | 1,839 | |
|
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| 48,444 | 49,505 | ||
|
|
The average head count of employees during the year was 2 (2022: 2).
The key management personnel of the charity comprises the Services Manager. The employee benefits of the key management personnel for the charity were £27,138 (2022: £28,328).
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
13. Trustee remuneration and expenses
There was no remuneration or other benefits paid to the Trustees during the year (2022: £nil). No volunteer expenses were paid to Trustees during the year (2022: £nil).
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Age Connected
Notes to the financial statements (continued)
Year ended 31 March 2023
14. Tangible fixed assets
| Fixtures and | Computer | ||||
|---|---|---|---|---|---|
| fittings | equipment | Equipment | Total | ||
| £ | £ | £ | £ | ||
| Cost | |||||
| At 1 April 2022 and 31 March 2023 | 6,861 | 7,889 | 894 | 15,644 | |
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| Depreciation | |||||
| At 1 April 2022 | 6,861 | 6,330 | 894 | 14,085 | |
| Charge for the year | – | 747 | – | 747 | |
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| At 31 March 2023 | 6,861 | 7,077 | 894 | 14,832 | |
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| Carrying amount | |||||
| At 31 March 2023 | – | 812 | – | 812 | |
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| At 31 March 2022 | – | 1,559 | – | 1,559 | |
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| 15. | Debtors | ||||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Prepayments and accrued income | 9,575 | 14,632 | |||
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| 16. | Creditors: Amounts falling due within | one year | |||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Accruals | 15,884 | 5,379 | |||
|
|
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Age Connected
Notes to the financial statements (continued)
Year ended 31 March 2023
17. Analysis of charitable funds
| Balance at 1 | Balance at | ||||
|---|---|---|---|---|---|
| Apr 2022 | **Income ** | Expenditure | Transfers | 31 Mar 2023 | |
| £ | £ | £ | £ | £ | |
| Unrestricted funds | |||||
| General funds | 47,538 | 57,955 | (34,446) | (22,692) | 48,355 |
| Restricted funds | |||||
| Big Lottery Reaching | |||||
| Communities Fund - 2015-2020 | – | 14,275 | (14,275) | – | – |
| Digital Inclusion Project | 4,202 | – | (3,995) | – | 207 |
| Lift fund | 5,000 | – | – | – | 5,000 |
| GYBC Foodcom | 2,000 | – | (2,000) | – | – |
| Big Knit | 696 | – | (696) | – | – |
| Little Acorns Community Fund | |||||
| (NCF) | 12 | – | (12) | – | – |
| Fuller Revenue Fund (NCF) | 750 | – | (750) | – | – |
| Acorn Pantry | – | 1,750 | (1,086) | – | 664 |
| Household Support Funding | – | 21,000 | (21,000) | – | – |
| Flooring | – | 2,700 | (2,700) | – | – |
| Befriending service | – | 1,715 | – | – | 1,715 |
| Training | – | 1,750 | – | – | 1,750 |
| Jubiliee celebrations | – | 3,515 | (3,240) | – | 275 |
| Warm spaces | – | 17,500 | (40,192) | 22,692 | – |
|
|
|
|
|
|
| 60,198 | 122,160 | (124,392) | – | 57,966 | |
|
|
|
|
|
|
| Balance at 1 | Balance at | ||||
| Apr 2021 | **Income ** | Expenditure | Transfers | 31 Mar 2022 | |
| £ | £ | £ | £ | £ | |
| Unrestricted funds | |||||
| General funds | 82,373 | 38,554 | (77,459) | 4,070 | 47,538 |
| Designated - Lift fund | 10,761 | – | – | (10,761) | – |
|
|
|
|
|
|
| 93,134 | 38,554 | (77,459) | (6,691) | 47,538 | |
| Restricted funds | |||||
| Big Lottery Reaching | |||||
| Communities Fund - 2015-2020 | 12,830 | – | (16,214) | 3,384 | – |
| Digital Inclusion Project | – | 6,199 | (304) | (1,693) | 4,202 |
| Lift fund | – | – | – | 5,000 | 5,000 |
| NCC Strong and Well | 2,925 | – | (2,925) | – | – |
| Groundwork | – | 1,000 | (1,000) | – | – |
| GYBC Foodcom | – | 2,000 | – | – | 2,000 |
| Big Knit | 696 | – | – | – | 696 |
| Little Acorns Community Fund | |||||
| (NCF) | 12 | – | – | – | 12 |
| Fuller Revenue Fund (NCF) | 750 | – | – | – | 750 |
|
|
|
|
|
|
| 110,347 | 47,753 | (97,902) | – | 60,198 | |
|
|
|
|
|
Big Lottery Reaching Communities Fund - 2015-2020 - relates to funds received for the provision of a Services Manager, Older Peoples Development Worker and Admin/Finance Officer to develop services that deliver the following outcomes:
- 16 -
Notes to the financial statements (continued)
Age Connected
Year ended 31 March 2023
Outcome 1 - Each year one new lunch group will open supported by three volunteers supporting 25 older people to reduce loneliness and isolation.
Outcome 2 - The project will reach 7500 older people giving opportunity for improving health and wellbeing to make life a more enjoyable and fulfilling experience.
Outcome 3 - Recruit 25 volunteers to support the project developing healthier active lives for themselves and older people.
Outcome 4 - Information packs, outreach sessions and ORCHIDS will ensure older people are better informed allowing for choices meeting their individual needs.
This project was extended and actually ended in June 2022.
NCC Strong and Well - represents funding received from Norfolk County Council in connection with the Great Yarmouth Dementia Friendly Safer Town initiative. The charity's part in the initiative was to lead the planning of and co-ordinate outreach activities.
Big Knit - represents funding received toward the Big Knit.
Little Acorns Community Fund - represents funding received for the cinema group at the ACORN Centre.
Lift Fund - represents funding received for lift repairs.
Fuller Revenue Fund - represents funding received towards the cost of providing a Christmas lunch and small gift to attendees at the lunch groups and a Christmas party at the ACORN Centre.
Digital Inclusion Project - represents funding received towards costs associated with a project to provide older people living the Great Yarmouth the opportunity to learn how to use a variety of technological devices.
Groundwork UK - represents funding received towards costs associated with a members outing.
GYBC Foodcom - represents funding received towards costs associated with food costs for the centre.
Acorn Pantry - represents funding received towards the set up and ongoing running of the Acorn Pantry.
Household Support Funding - represents funding received towards the provision of activities and heating and low income grants to beneficiaries.
Flooring - represents funding received towards the replacement of the floor at the centre.
Befriending service - represents funding towards the new befriending service at the centre.
Training - represents funding towards traning sessions to be held in 2023/24.
Jubilee celebrations - represents funding towards Jubilee celebrations held at the centre.
Warm spaces - represents funding received towards providing a warm space.
- 17 -
Notes to the financial statements (continued)
Age Connected
Year ended 31 March 2023
Transfers -
2023 transfers
There was a transfer of £22,692 from the general unrestricted fund to the Warm spaces fund to cover the costs associated with this project which exceeded funding.
2022 transfers
There was a transfer of £3,384 from general unrestricted funds to the lottery restricted fund to cover costs associated with this project which exceeded funding.
£1,693 was transferred from the Digial Inclusion Project fund to general unrestricted funds for the capitalised IT equipment.
The designated lift fund was transferred to general unrestricted funds in the year, with the exception of a £5,000 restricted donation which was included in this designated fund, and is now transferred to the restricted lift fund.
18. Analysis of net assets between funds
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Tangible fixed assets | 812 | – | 812 |
| Current assets | 63,427 | 9,611 | 73,038 |
| Creditors less than 1 year | (15,884) | – | (15,884) |
|
|
|
|
| Net assets | 48,355 | 9,611 | 57,966 |
|
|
|
|
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Tangible fixed assets | 1,559 | – | 1,559 |
| Current assets | 51,358 | 12,660 | 64,018 |
| Creditors less than 1 year | (5,379) | – | (5,379) |
|
|
|
|
| Net assets | 47,538 | 12,660 | 60,198 |
|
|
|
19. Operating lease commitments
The total future minimum lease payments under non-cancellable operating leases are as follows:
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Not later than 1 year | 18,000 | 18,000 |
| Later than 1 year and not later than 5 years | 39,750 | 57,750 |
|
|
|
| 57,750 | 75,750 | |
|
|
- 18 -
Age Connected
Notes to the financial statements (continued)
Year ended 31 March 2023
20. Related parties
During the year, money unrestricted donations amounting to £360 was received from one Trustee (2022: nil).
- 19 -