2024-03-31-accounts - Southborough And High Brooms Age Concern

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Trustees’ Annual Report for the period

From 1[st] April 2023 Period start date To 31[st] March 2024 Period end date

Charity name: Southborough & High Brooms Age Concern

Charity registration number:275874

Objectives and Activities

	SORP reference
Summary of the purposes of the charity as set out in its governing document	Para 1.17	To promote the relief of elderly people in any manner which is now or hereafter may be deemed by the law to be charitable within the boundary of the Southborough Town Council and adjacent surrounding areas.
Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts.	Para 1.17 and 1.19	It is no longer financially viable for us to run a Day Care Centre, as we have done in the past. The Charity has therefore donated a considerable sum to the local alms-houses and previously supported computer classes for the elderly in the Southborough area. We also look at grants for specific purposes for the elderly. Trustees considered a proposal from Age UK Tunbridge Wells to support their Advice and information & Advocacy services. It was agreed that we would make a grant of £10,000 pa over a period of 3 years. Their first payment was made in the current year.
Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit	Para 1.18	The Trustees have had regard to the guidance published by the Charity Commission and believe that all our activities are for the benefit of elderly members of the public in our area of benefit.

Additional information (optional)

You may choose to include further statements where relevant about:

SORP reference Para 1.38 Policy on grant making Para 1.38 Policy on social investment including program related

investment Para 1.38 Contribution made by volunteers Other

Achievements and Performance

	SORP reference
Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole.	Para 1.20	As stated above, this year the Charity has commenced a 3 year funding project for Advice & Information and Advocacy services, provided to the local population by Age UK Tunbridge Wells.

Additional information (optional) You may choose to include further statements where relevant about:

Achievements against objectives set	Para 1.41
Performance of fundraising activities against objectives set	Para 1.41
Investment performance against objectives	Para 1.41	The Trustees decided that the risk of investment could no longer be spread wide enough with individual holdings. As a result we instructed our investment advisors to encash the existing investments; to hold some of the money in cash; and to re-invest the balance in

the Sanlam Balanced Fund. Other

Financial Review

Review of the charity’s financial position at the end of the period	Para 1.21	In line with our policy the value of our investments are gradually reducing and the proceeds being used towards the grants that we make.
Statement explaining the policy for holding reserves stating why they are held	Para 1.22	Now that we no longer run a Day Centre we do not need reserves and it is intended by the Trustees gradually to deplete the funds we hold, by the giving of grants.
Amount of reserves held	Para 1.22	We do not hold reserves as such.
Reasons for holding zero reserves	Para 1.22	N/A
Details of fund materially in deficit	Para 1.24	N/A
Explanation of any uncertainties about the charity continuing as a going concern	Para 1.23	N/A

Additional information (optional) You may choose to include further statements where relevant about:

The charity’s principal sources of funds (including any fundraising)	Para 1.47	The Charity’s principal source of funds is income from investments. As the capital reduces we have to use more capital to support the making of grants.
Investment policy and objectives including any social investment policy adopted	Para 1.46	The investment objectives are to grow the fund as much as possible while producing some income towards the cost of the activities we support.
A description of the principal risks facing the charity	Para 1.46	We believe that we have this year reduced the investment risk by re- investment in a Balanced Fund where the risk can be spread more widely.
Other

Structure, Governance and Management

Description of charity’s trusts:
Type of governing document (trust deed, royal charter)	Para 1.25	Constitution.
How is the charity constituted? (e.g unincorporated association, CIO)	Para 1.25	Unincorporated Association.
Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees	Para 1.25	Trustees are appointed by the existing Trustee body. Following the resignation of Robin Foster, the previous Chair, the number of trustees has been reduced to 3.

Additional information (optional)

You may choose to include further statements where relevant about:

Policies and procedures adopted for the induction and training of trustees	Para 1.51
The charity’s organisational structure and any wider network with which the charity works	Para 1.51
Relationship with any related parties	Para 1.51
Other

Reference and Administrative details

Charity name	Southborough & High Brooms Age Concern
Other name the charity uses	N/A
Registered charity number	275874
Charity’s principal address	7 Batchelors Pembury Tunbridge Wells Kent, TN2 4ED.

Names of the charity trustees who manage the charity

Trustee name	Office (if any)	Dates acted if not for whole year
Gerald Ray	Chairman
Nigel Stratton	Treasurer
Michael Wisdom
Robin Foster	(Chairman)	1/04/2023 to 14/06/2023

– Corporate trustees names of the directors at the date the report was approved Director name N/A

Name of trustees holding title to property belonging to the charity

Trustee name	Dates acted if not for whole year
N/A

Funds held as custodian trustees on behalf of others

Description of the assets N/A held in this capacity

Name and objects of the N/A charity on whose behalf the assets are held and how this falls within the custodian charity’s objects

Details of arrangements for N/A safe custody and segregation of such assets from the charity’s own assets

Additional information (optional)

Names and addresses of advisers (Optional information)

Type of adviser	Name Address	Name Address
Financial

Name of chief executive or names of senior staff members (Optional information)

Exemptions from disclosure

Reason for non-disclosure of key personnel details

Other optional information

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signature(s) Full name(s) Nigel Morris Stratton

Position (eg Secretary, Hon. Treasurer Chair, etc)

Date

	Page
Reportof the IndependentExaminer	1
ReceiptsandPayments Accounts	2
Statement ofAssetsandUabilities	3
Notesto theAccounts	4-5


	E	e		E	,_
UNRESTRICTED FUNDS
RECEIPTS
Investmentincome
Bankinterest	232			128
Donations received
Sanlam-dividendsand interest	509			493
			747			621,
saleofinvestments		88,253			28	257
Total receipts		88,994			28,878
PAYMENTS
Donations toTunbridgeWells Age	10,000
Concern
Bank charges	61			74
Independentexaminer'sfee	450			450
LEIregistration				720
Investmentmanager'sFees	791			1,003
		77,302			t,647
Purchaseof investments		62,L95			27	,760
Total payments		73	497		29	407
Netreceipts/(payments)		75,497			(s2e)
Cashfundsbrought forward					15	343
Cashfunds carriedforward		iaJ]l			11814

	Note		2024			2023
		E		E	E	a
UNRESTRICTED FUNDS
Fixed assets
Investments				42,t75		63 875
Currentassets
Cashatbankand inhand		30	311		14 814
		30,311			14,8t4
creditors:amountsfallingdue
withinoneyear
Netcurrentassets				30 311		t4 814
Net assets				72,426		_zq,!!e
Represented by:	2
Unrestrictedfunds				72,426		78 689
Totalfunds				72,426		__z!,qqs

2)FUNDS
	Reserve
Unrestrictedfunds	fund	Total
	E	f
At1April2023	78,689	78,689
Netmovement onReceipts and Payments Account	15,497	t5,497
Saleofinvestments	(88,2s3)	(88,2s3)
Cashpurchaseofinvestments	62,r95	62,195
Non-cash purchaseofinvestments	743	743
RealisedandUnrealisedprofi((loss)on
investments	555 3	3,555
At 31 I'larch2024	72,426	72,426

	Page
Reportof the IndependentExaminer	1
ReceiptsandPayments Accounts	2
Statement ofAssetsandUabilities	3
Notesto theAccounts	4-5


	E	e		E	,_
UNRESTRICTED FUNDS
RECEIPTS
Investmentincome
Bankinterest	232			128
Donations received
Sanlam-dividendsand interest	509			493
			747			621,
saleofinvestments		88,253			28	257
Total receipts		88,994			28,878
PAYMENTS
Donations toTunbridgeWells Age	10,000
Concern
Bank charges	61			74
Independentexaminer'sfee	450			450
LEIregistration				720
Investmentmanager'sFees	791			1,003
		77,302			t,647
Purchaseof investments		62,L95			27	,760
Total payments		73	497		29	407
Netreceipts/(payments)		75,497			(s2e)
Cashfundsbrought forward					15	343
Cashfunds carriedforward		iaJ]l			11814

	Note		2024			2023
		E		E	E	a
UNRESTRICTED FUNDS
Fixed assets
Investments				42,t75		63 875
Currentassets
Cashatbankand inhand		30	311		14 814
		30,311			14,8t4
creditors:amountsfallingdue
withinoneyear
Netcurrentassets				30 311		t4 814
Net assets				72,426		_zq,!!e
Represented by:	2
Unrestrictedfunds				72,426		78 689
Totalfunds				72,426		__z!,qqs

2)FUNDS
	Reserve
Unrestrictedfunds	fund	Total
	E	f
At1April2023	78,689	78,689
Netmovement onReceipts and Payments Account	15,497	t5,497
Saleofinvestments	(88,2s3)	(88,2s3)
Cashpurchaseofinvestments	62,r95	62,195
Non-cash purchaseofinvestments	743	743
RealisedandUnrealisedprofi((loss)on
investments	555 3	3,555
At 31 I'larch2024	72,426	72,426