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2022-03-31-accounts

Registered number: 01499927 Charity number: 281820

PLYMOUTH AGE CONCERN TRADING AS AGE UK PLYMOUTH

(A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE)

CONTENTS

Page
Reference and Administrative Details of the Charity, its Trustees and Advisers 1 - 2
Trustees' Report 3
Independent Auditors' Report on the Financial Statements 16 - 19
Statement of Financial Activities 20
Balance Sheet 21
Statement of Cash Flows 22
Notes to the Financial Statements 23 - 42

PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2022

Trustees E Edwards-Smith, Chair (resigned 8 December 2021)
B Wright, Chair
S Keegan (resigned 30 June 2021)
E Bombieri
G Easson (resigned 7 July 2022)
S Hobbs
J Grubb (resigned 26 November 2021)
M Creek (appointed 23 November 2021)
P Burroughs
F Thomson (appointed 7 July 2022)
N Watt (appointed 7 July 2022)
Company registered
number
01499927
Charity registered
number
281820
Registered office
William & Patricia Venton Centre
Astor Drive
Mount Gould
Plymouth
Devon
PL4 9RD
Company secretary
David Wood
Chief executive officer
David Wood
Independent auditors
Bishop Fleming LLP
Chartered Accountants
Salt Quay House
4 North East Quay
Sutton Harbour
Plymouth
PL4 0BN
Bankers
National Westminster Bank Plc
740 Waterside Drive
Aztec West
Almondsbury
Bristol
BS99 5BD
Investment advisors
Close Asset Management Limited
10 Crown Place
London
EC2A 4FT

Page 1

PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Investment advisors

Brewin Dolphin Limited 12 Smithfield Street London EC1A 9BD

Page 2

PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2022

The Trustees present their annual report together with the audited financial statements of the Charity for the year 1 April 2021 to 31 March 2022. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

The Charity also trades under the name Age UK Plymouth.

Objectives and activities

a. Policies and objectives

The objects for which the Charity is established are set out in the Articles of Association and are now embodied in the Mission Statement which reads:

µ$JH�8.�3O\PRXWK�H[LVWV�WR�FDUH�IRU�DQG�ZRUN�ZLWK�ROGHU�SHRSOH�DQG�WKHLU�FDUHUV in and around the City of 3O\PRXWK�WR�LPSURYH�WKHLU�TXDOLW\�RI�OLIH�WKURXJK�WKH�SURPRWLRQ�RI�FKRLFH��RSSRUWXQLW\�DQG�LQGHSHQGHQFH¶��

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a Charity (PB2)'.

b. Strategies for achieving objectives

To achieve our Mission, we aim:

To improve the wellbeing of those in Later Life by;

Our Vision

��/RYH�/DWHU�/LIH�LQ�3O\PRXWK

Our Values

Page 3

PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

c. Activities undertaken to achieve objectives

The Board of Trustees, the Chief Executive Officer and the senior management team undertake a review of WKH�&KDULW\¶V�DLPV�REMHFWLYHV�DQG�DFWLYLWLHV�HDFK�\HDU��7KLV�WDNHV�SODFH�DW�D�VWUDWHJ\�GD\�DQG�WKH�UHYLHZ� considers what has been achieved within the previous 12 months and where the Charity aligns itself within a national and local agenda that has older people at the forefront.

d. Main activities undertaken to further the Charity's purposes for the public benefit

The Charities Act 2006 introduced the requirement for Charities to show they provide public benefit. The ([HFXWLYH�&RPPLWWHH�UHIHUV�WR�WKH�JXLGDQFH�FRQWDLQHG�LQ�WKH�&KDULW\�&RPPLVVLRQ¶V�JHQHUDO�JXLGDQFH�RQ� SXEOLF�EHQHILW�ZKHQ�UHYLHZLQJ�WKH�&KDULW\¶V�DLPV�DQG�REMHFWLYHV�HDFK�\HDU�DQG�LQ�SODQQLQJ�IXWXUH�DFWLYLWLHV. The Trustees consider that the services delivered by the Charity provide a clearly identifiable benefit to its service users, who are older people living in Plymouth and the surrounding area, and that none of that group of citizens is precluded from sharing in those services by reason of economic hardship.

The relief of those in need by reason of age has been codified as a charitable purpose by the Charities Act 2006. Age UK Plymouth interacts with up to 1,900 older people each month through its services.

The Charity helps older people to maintain and enhance their quality of life, make informed choices and realise their rights.

The Charity also provides many services which are free at the point of delivery, the main one being the Information and Advice service which assists older people to remain in control and able to make informed choices on issues that may affect their independence, financial health and wellbeing. In addition, the Charity provides free Dementia Awareness training and has a Wellbeing Hub that encourages those in the local community to drop in for advice and support. The Charity also introduced free services in response to the Coronavirus Covid 19 pandemic and many of these such as Befriending and Phone Friends have continued and are now part of our core offer.

Diversity and equal access to Age UK Plymouth services are important issues for the Charity and our service planning always takes account of any underrepresented groups.

How we Help

Day Centre Feedback

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³0\�GDXJKWHU�DUUDQJHG�IRU�PH�WR�DWWHQG�WKH�9HQWRQ�FHQWUH���GD\V�D�ZHHN��,�HQMR\�WKe company of other day JXHVWV��ZH�ODXJK�D�ORW��7KH�VWDII�DUH�EULOOLDQW�DQG�FDQ¶W�GR�HQRXJK�IRU�\RX�´�(�*

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Jolly Elders Club

³$�YHU\�ZHOFRPLQJ�FOXE��/LVD�DQG�$EL�DUH�VR�QLFH��/RRN�IRUZDUG�WR�JRLQJ�WKHUH�HYHU\�ZHHN��,�DOZD\V�WKRXJKW� these sorts of clubs were not for me but I have now changed my mind. All the ladies who attend the club are so friendly. We play games, have tea, cofIHH�DQG�FDNHV�HWF�´

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³3HRSOH�DUH�VR�IULHQGO\�DQG�KHOSIXO��, KDYH�D�JUHDW�WLPH�DQG�DOZD\V�ORRN�IRUZDUG�WR�FRPLQJ�WR�WKLV�JURXS�´�6�6

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PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

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³7KH�FOXE�KDV�EHHQ�D�UHDO�OLIH�OLQH�IRU�PH�WR�PHHW�DQG�WDON�WR�RWKHU�SHRSOH�ZKHQ�\RX�DUH�RQ�\RXU�RZQ��9HU\� friendly and helpful. The variety of things to do every week, entertainment, arts and crafts etc. Lisa and Abi ZKR�UXQ�WKH�FOXE�DUH�YHU\�JRRG�´

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³%RWK�/LVD�DQG�$EL�ERWK�PDNH�XV�YHU\�ZHOFRPH�DQG�ZRUN�YHU\�KDUG�WR�SURYLGH�YDULRXV�WKLQgs for us to do each week. It is a very pleasant couple of hours and a very friendly group of people, all who gel well and it is nice to FKDW��0DQ\�WKDQNV�IRU�D�SOHDVDQW�FRXSOH�RI�KRXUV�ZKLFK�LV�DSSUHFLDWHG�´

Dementia Day Centre

³,�KDYH�EHHQ�UHDOO\�SOHDVHd with how quickly my mother Valerie Dickins adapted to attending the centre despite her Alzheimer's making any change of routine difficult for her, in particular the way she was made to feel comfortable from the outset. I have found the staff to be very approachable and helpful in terms of providing feedback at the end of each day when requested and it would seem they have got to know and understand Mum in a relatively short space of time. I consider that she benefits from attending the centre from both a social interaction perspective and also being encouraged to participate in the activities at the centre as VKH�IHHOV�LQFOLQHG��JLYHQ�WKDW�VKH�ILQGV�WKLQJV�LQFUHDVLQJO\�GLIILFXOW�DW�KRPH�´

Information and Advice

³2QFH�DJDLQ��D�ELJ�WKDQN�\RX�IRU�DOO�\RXU�KHlp re application for a blue badge. It has been lovely talking to you DQG�LW¶V�EHHQ�D�ORQJ�WLPH�VLQFH�,�KDYH�KDG�DQ\�DVVLVWDQFH�ZLWK�DQ\�SUREOHP�WKDW�KDV�FRPH�P\�ZD\��,�KDYH� quite a few friends, mostly my age group and like me, we know nothing about computHUV�´

Catering

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Achievements and performance

a. Review of activities

Services and Support

This service offers information and advice on a wide range of matters including social care, welfare benefits, and legal matters.

The Information and Advice service had 5,183 contacts with the local community:

PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

(b) Help at Home and Community Support

The Help at Home and Community Support service offers an essential person-centred high-quality flexible service to people aged 50 and over, living in and around the City of Plymouth. This service is tailored to SHRSOH¶V�LQGLYLGXDO�QHHGV�DQG�LQFOXGHV�VKRSSLng, cleaning, assisted trips and all geared towards promoting choice, independence and improve confidence and wellbeing.

The Help at Home and Community Support service supported 977 older people to continue living in their own home, maximising their independence, whilst helping with the activities of daily living. The Home and Community Support team provided 25,760 support hours to older people during the year. It is an absolutely vital service.

(c) Day Care / Day Opportunities

For people who need individual additional care and support the Charity offers a day care provision.

The William and Patricia Venton Day Centre operates 3 days a week and provides day care and day opportunities for older people, who may be physically frail, have become socially isolated or simply want to benefit from peer group support. Often this level of day care enables carers the time and the opportunity to have respite and focus their endeavours elsewhere.

The Day Centre also offers a range of events, activities, singalongs, competitions, quizzes and more all geared towards stimulating the mind and body. There is a three-course quality and freshly cooked meal provided every day.

As well as a variety of activities available within the service and clients can choose from a menu of social, leisure and learning opportunities to meet their identified abilities and preferences. Service users are regularly consulted on the quality of service and the proposed programme of activities via service user forums and service user questionnaires.

During 2021/22, there were 1,692 attendances at the William & Patricia Venton Day Centre. This was a 36% increase on last year.

(d) Dementia Day Centre

The Dementia Day Centre is based in the William Venton Centre in Plymstock and provides a range of specialist dementia services and activities for people over the age of 50 who have memory loss, cognitive impairment and dementia. The service offers day care and operates 5 days per week. There is a high quality two course freshly cooked meal provided every day.

There are a variety of activities available within this service and clients can benefit from a menu of social, leisure and learning opportunities to meet their identified abilities and preferences. Carers are regularly consulted on the quality of service and the proposed programme of activities via service user forums and service user questionnaires. The Dementia Day Centre provides a level of excellence that meets the needs of the clients, but equally provides much needed respite for their carers

During 2021/22 there were 2,492 attendances at the Dementia Day Centre and 1,144 of these were privately funded.

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PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

(e) Catering Services

The Catering team provided meals to clients, service users and lunch clubs in our dining rooms at the William and Patricia Venton Centre and at the William Venton Centre. The service is available 5 days per week, and QRUPDOO\�SURYLGHV�DURXQG����FRYHUV�SHU�GD\��,Q�DGGLWLRQ��DQG�GXULQJ���������9HWHUDQV�EUHDNIDVWV�DQG�³6WLFN\� %XQ´�PRUQLQJV�ZHUH�Lntroduced. In the very near future the catering service at the William and Patricia Venton Centre will open 7 days a week to meet the needs of the patients staying at the Short-Term Care Centre.

(f) Gateway to Services

This three-year National Lottery funded project started on 1st October 2019.

The service provides outreach into the most at need areas of Plymouth, campaigns to raise awareness of loneliness, promotes and signposts older people to local available services, works to ensure that there are no gaps in service provision, teaches and upskills volunteers to be community connectors and befrienders, and links to schools and colleges to start conversations about Later Life. 39 volunteers have been involved throughout to support delivery of the projeFW¶V�RXWFRPHV��7KLV�\HDU�ZH�UHLQYLJRUDWHG�WKH�SURMHFW�XQGHU�RXU� &RPPXQLW\�*DWHZD\�XPEUHOOD�DQG�LQWURGXFHG�³&RPPXQLW\�&XSSD´�ZKLFK�LV�QRZ�SDUW�RI�RXU�)ULGD\�PRUQLQJ� routine when volunteers and members of the general public have quality time together in a friendly, relaxed and supportive environment.

(g) Volunteering

Age UK Plymouth began its work in 1942 as a Charity which was operated entirely by volunteers. Today the VXSSRUW�RI�YROXQWHHUV�UHPDLQV�FUXFLDO�WR�WKH�&KDULW\¶V�FRQWLQXHG�VXFFHVV��7KH�&KDULW\�SURYLGHV�D�9ROXQWHHU� Service which offers a variety of rewarding opportunities to people of all ages. Volunteers gain new skills and experience, and also meet new friends. Our volunteer service also provides excellent opportunities for those people seeking practical experience to prepare them for job seeking or as practice placement as part of their academic study. The Charity also supports young people of school age with work experience and intergenerational activities - although the coronavirus pandemic has limited our ability to engage fully at times.

At the end of March 2022, the Charity had 49 registered volunteers who contributed 8,765 hours of volunteer support. This does not include corporate volunteers who have supported the Charity throughout the year.

(h) Information, Education and Talks

Presentations and talks are provided to voluntary groups, local businesses, local health providers and commissioners, schools, colleges and universities throughout the year by our experienced and knowledgeable staffing team. As a result of learnings from the coronavirus pandemic many of these events took place on Zoom or Teams.

(i) External Relationships

The Charity continues to work to develop mutually beneficial relationships and partnerships in Plymouth and beyond.

The Charity has maintained and developed close working and very effective relationships with Plymouth City &RXQFLO��ERWK�DW�RIILFHU�DQG�PHPEHU�OHYHO��7KLV�LV�PLUURUHG�E\�UHJXODU�FRQWDFW�ZLWK�WKH�FLW\¶V�WZR�0HPEHUV�RI� Parliament. This close working relationship has become increasingly apparent as we have developed our short-term care centre at our William and Patricia Venton Centre. Age UK Plymouth was responsible for encouraging a voluntary sector coordinated approach to supporting older people through the coronavirus pandemic and whilst Age UK Plymouth was the catalyst for this, Plymouth City Council coordinated the meetings of the voluntary sector. These meetings continue.

Age UK Plymouth has also worked with a number of important health partners across the city such as the Integrated Care Partnership, and the Primary Care Networks.

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PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Age UK Plymouth places high importance upon working with and learning from other voluntary and community sector organisations in the city. This has seen the Charity in contact with Improving Lives Plymouth, Memory Matters, Elder Tree, and to name just three.

Age UK Plymouth works in association with the thirteen other Age UKs in the South West, and retains a good ZRUNLQJ�UHODWLRQVKLS�ZLWK�$JH�8.�DW�D�QDWLRQDO�OHYHO��7KH�&KDULW\�KDV�SUHYLRXVO\�UHFHLYHG�$JH�8.¶V�&KDULW\� Quality Standards Audit and this resulted in Age UK Plymouth being awarded the Charity Quality Standards Certificate.

(j) Short-Term Care Centre

The Short-Term Care Centre (STCC) provided a focal point to the Charity¶V�GHYHORSPHQW�GXULQJ����������$JH� UK Plymouth has worked in partnership with Plymouth City Council and the NHS Devon Clinical Commissioning Group to refurbish the upper two floors of the William and Patricia Venton Centre. Plymouth City Council have invested in excess of £600,000 and Age UK Plymouth over £300,000.

,W�KDV�EHHQ�DQ�H[FHOOHQW�SDUWQHUVKLS�DQG�WKH�67&&�ZLOO�KHOS�SHRSOH�UHFRYHU�IURP�LOOQHVV�DQG�HQVXUH�WKH\�GRQ¶W� spend longer than necessary in hospital. The STCC is being run in partnership with Livewell Southwest and has 24 en-suite bedrooms providing a safe place for patients to stay after they have been in hospital. This could be for up to four weeks and the aim is that when people leave the centre they are feeling much better and ready to go home and live as independently as possible.

(k) Discharge Support

The advent of the STCC has acted as a catalyst for change and for providing the opportunity to deliver new services. As from March 2022, Age UK Plymouth started to provide support to patients being discharged from the STCC, from Mount Gould and in time from Derriford Hospital. The support the Charity providers is person centred and is tailored to meet the needs of the individual patient. The service includes shopping, cleaning, simple food preparation picking up prescriptions, confidence building, the opening of mail and more.

(l) Dementia Awareness Training

In 2021/22 the Charity started to offer free training and information on dementia and began to deliver Dementia Awareness sessions and Dementia Friends training. The overall objective is the determination to make Plymouth a dementia friendly city by engaging with schools, universities, the private sector and the public sector to enhance the understanding of the impact that dementia has not just on the individual concerned but also on family, friends and colleagues.

b. Equal opportunities and fair access statement

Age UK Plymouth is opposed to all forms of unlawful and unfair discrimination and is committed to ensuring that no person (employee, volunteer, service user or other) will be treated unfairly by the Charity because of a protected characteristic:

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2XU�FRPPLWPHQW�WR�HTXDOLW\�DQG�GLYHUVLW\�LV�ODLG�GRZQ�LQ�WKH�&KDULW\¶V�(TXDOLW\�DQG�'LYHUVLW\�3ROLF\��

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PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

c. Safeguarding of adults statement

Age UK Plymouth will not tolerate any form of abuse and believes that all older people should be able to live in an environment which is safe from abuse. The Charity will ensure that individual rights and organisational values are promoted and upheld in their work with older people. Any allegations or suspicion of abuse will be reported and invesWLJDWHG��,Q�RUGHU�WR�VDIHJXDUG�DGXOWV�DW�ULVN�RI�KDUP�ZKR�XVH�WKH�&KDULW\¶V�VHUYLFHV��UREXVW�� VDIH�UHFUXLWPHQW�SURFHGXUHV�ZLOO�EH�FDUULHG�RXW�LQ�UHODWLRQ�WR�DOO�VWDII�DQG�YROXQWHHUV�DFFRUGLQJ�WR�WKH�&KDULW\¶V� Safeguarding of Adults Policy. The Charity also has a formal written policy for the safeguarding of children.

Financial review

a. Going concern

The Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. It is the intention of the Trustees that the Going Concern accounting policy will be used by the Charity going forward.

The Charity has improved its liquidity and released some of the previously restricted funds. Current assets have increased in comparison to the prior year and the Charity has returned a small deficit in the period. Total net assets have decreased slightly. In addition, a new Short-Term Care Centre has been opened on the top two floors of the William and Patricia Venton Centre. Given all of this, the Trustees believe that the Charity is in a strong financial position.

The Charity has been loss making in previous years and whilst facing and dealing with a number of challenges has been forecasting future deficits. Many of these challenges have now been addressed and the Trustees believe that the Charity is making significant progress in financial terms whilst also supporting a growing number of older people within the city of Plymouth.

The Trustees have been greatly encouraged by the progress made by the new and very experienced Chief Executive Officer who was appointed in May 2021. He has strengthened the senior management team, raised morale and significantly enhanced relationships with key stakeholders further embedding the Charity in the city and within local communities. The opening in May 2022 of the new Short-Term Care Centre on the top two floors of the William and Patricia Venton Centre has made an enormous difference to the Charity, strengthening its income base, enhancing its current services and being the catalyst that has allowed new services, such as discharge support, to be introduced. The development of the Short-Term Care Centre is part of a longer-term plan that is already ensuring that Age UK Plymouth has a higher profile locally, is more aligned with key stakeholders, is supporting more older people in need and through an enhanced fundraising focus more engaged with the corporate sector.

The senior management team and the Finance and Investment Committee will continue to scrutinise and monitor performance and cashflow on an ongoing basis.

The Trustees believe that the Charity has made substantial progress in 2022 and that it is operating across its services at a higher level than in previous years. In addition, the Trustees are delighted with the development of new services such as discharge.

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PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

b. Reserves policy

The Charity needs to hold reserves for the following principal reasons:

The Charity will therefore endeavour to maintain a level of reserves appropriate to the financial climate in which it is operating, with particular reference to potential major financial risks (such as loss of funding) and the Charity¶V�FRPPLWPHQW�Wo the many people it serves.

The Charity recognises that investments held within its unrestricted funds are technically available to be spent on the general purposes of the Charity but recognises also that the usage of the investments in this manner would correspondingly reduce their income earning capacity.

The Charity considers that its present level of free reserves satisfies the criteria set out above, and no action is deemed to be necessary at the present time to change these levels.

The Charity will review both the level of its reserves and its policy on reserves bi-annually.

c. Material investments policy

The Charity has a formal Investment policy in place (TR 003) which is reviewed periodically by the Executive Committee.

The investments are held as a long term reserve against any future shortfall in income against expenditure.

Ethical Investment

The Charity will not knowingly invest in a company or product which will have a detrimental effect on the health of older people.

The Charity will not directly invest in tobacco industries

d. Principal funding

7KH�&KDULW\¶V�SULQFLSDO�IXQGLQJ�VRXUFHV�DUH:

&KDUJHV�DUH�PDGH�IRU�HDFK�RI�WKH�&KDULW\¶V�PDLQ�VHUYLFHV�± Day Care, Dementia Day Care and Help at +RPH���7KHVH�DUH�UHYLHZHG�DQQXDOO\�WR�UHIOHFW�ULVLQJ�FRVWV��ZKLOVW�UHIOHFWLQJ�RQ�WKH�&KDULW\¶V�RYHUDOO�HWKRV�DQG� core values.

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PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

,QYHVWPHQW�LQFRPH�DULVHV�IURP�WKH�&KDULW\¶V�LQYHVWPHQW�SRUWIROLRV���$OO�LQYHVWPHQWV�DUH�KHOG�LQ�VHFurities quoted on the London Stock Exchange, and each of the two major portfolios are managed on a discretionary basis by two different investment managers, who normally meet with the Finance and Investment Committee of the Charity on an annual basis.

All income from investments, together with interest on cash deposits, is used towards meeting the costs of providing services.

e. Review of 2021-2022

The Statement of Financial Activities shows the Incoming Resources of the Charity, Resources Expended during the year, the various transfers between Funds and the Fund balances at the year end.

Incoming resources in total amount to £1,065,164 which is £97,130 more than the previous year. This is an encouraging development.

Resources expended amounted to £1,256,481 which is £39,453 more than the previous year and reflects the increased level of activity across the Charity. The net incoming resources after also adding gains on investments of £160,694 (2021: gain of 365,753) were a loss of £30,623 (2021: gain of £116,759).

The figures are affected by the continuing intermittent impact of the coronavirus pandemic, the cost of living crisis and the financial demands of the development of the Short-Term Care Centre. In tandem with the increasing need to support older people impacted locally then the climate can be a challenging one.

Resources expended break down into 96.74% spent on the direct provision of Charitable Activities, 3.26% on Costs on Generating Funds.

Net gains and losses on the Charit\¶V�LQYHVWPHQW�IXQGV�DPRXQWHG�WR�D�JDLQ�RI����������GXULQJ�WKH�ILQDQFLDO� year.

The Balance Sheet as at 31 March 2022 shows that the Net Assets of the Charity have decreased by £30,623 to £3,029,987 reflecting the items detailed above.

All of the assets of the Charity are held for the purpose of the provision of its services. The movements in fixed assets during the year are set out in note 13 to the financial statements. The tangible fixed assets figure of £1,133,992 represent the written down value of the buildings, vehicles, furniture and equipment owned or leased by the Charity.

The Investments of £1,716,228 are held for the purposes of providing income to defray the expenses of the &KDULW\¶V�VHUYLFHV���,QWHUHVW�RQ�FDVK�DQG�EDQN�GHSRVLWV�LV�XVHG�IRr the same purpose. All investments have been acquired in accordance with the powers contained in the Articles of Association.

The position of the Endowment Funds, Restricted Funds and Unrestricted Funds as at 31st March 2022, reflects the operation of the Heads of Agreement and the funds released under Section 282 Charities Act, as set out in note 18 to the Accounts.

Page 11

PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Structure, governance and management

a. Constitution

Age UK Plymouth is registered as Plymouth Age Concern, a Charity (No. 281820) and a Company Limited by guarantee (No. 1499927). The Charity was incorporated as a Company on 4th June 1980.

The Charity is governed by its Articles of Association dated 28 September 2011. In the event of the Charity being wound up, Members are required to contribute an amount not exceeding £1.00.

Trustees will ensure that the Charity makes use of the Self-Assessment Form that is contained within the Charity Governance Code as part of its commitment to good and improved governance.

b. Methods of appointment or election of Trustees

All the powers of the Charity are vested in the Executive Committee, which is responsible for the proper management of the Charity. For the purposes of the Charities Act 2006, the Members of the Executive Committee are the Trustees of the Charity; for the purposes of the Companies Act 2006, the Members of the Executive Committee are also the Directors of the Company. The Executive Committee must consist of between 5 and 15 members, who may only be appointed from amongst the membership of the Charity.

The directors of the company are also Charity Trustees for the purposes of Charity law and under the FRPSDQ\¶V�$UWLFOHV�DUH�NQRZQ�DV�PHPEHUV�RI�WKH�([HFXWLYH�&RPPLWWHH��7KHUH�ZHUH��� Trustees on the Executive Committee of Age UK Plymouth as at 31 March 2022. The Articles of Association set out the conditions under which Trustees are appointed and prescribe the election process:

³7KH�Trustees when complete consist of at least five and not more than 15 persons who being individuals are over the age of 18, all of whom must support the Objects, be a Member and have signed a written declaration of willingness to act as a Charity Trustee of the Charity. If any Trustee is a corporate body it must act through a named representative whose contact details are notified to the Trustees and there must be at least one individual Trustee´� ���� ��

Trustees are elected by the Members or co-opted by the Trustees (20.2). The Charity may by ordinary resolution appoint a person who is willing to act to be a Trustee and determine the rotation in which any additional Trustees are to retire (20.3). The Trustees may at any time co-opt any individual who is eligible (20.1) as a Trustee to fill a vacancy in their number or (subject to the maximum number permitted by Article 20.1) as an additional Trustee�´� ���� �

The Executive Committee recognises the importance of maintaining the balance of skills and professional backgrounds and seeks to ensure that awareness of the needs of older people in Plymouth and the best interest of the Charity is reflected in the makeup of the Trustee body. This is achieved through formal recruitment and selection processes which take account of the specific Trustee skills required. The Charity also ensures that the recruitment process takes full account of equality and diversity and that the Trustee Board reflects the community in which it serves.

All members of the Executive Committee give their time voluntarily and receive no benefits from the Charity.

The Board of Trustees can also appoint honorary officers from amongst its members (President and Vice President) and are also resSRQVLEOH�IRU�QRPLQDWLQJ�WKH�&KDULW\¶V�3DWURQ V ��

c. Organisational structure and decision-making policies

The Executive Committee have overall responsibility for the governance of the Charity. It meets at least four times a year and is supported by the Finance and Investment Committee and the Services, Quality, Safety Committee. All Committees and Groups are comprised of members of the Executive Committee.

Page 12

PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

The Chief Executive Officer leads the Senior Management Team (SMT) in the day-to-day management of the Charity, working within the financial framework, procedures and policies laid down by the Executive Committee.

(DFK�PDLQ�DUHD�RI�WKH�&KDULW\¶V�ZRUN�LV�KHDGHG�E\�DQ�DSSURSULDWHO\�WUDLQHG�PHPEHU�RI�VWDII�PDQDJHU�ZKR��LQ� turn, is responsible to the Senior Management Team.

As at 31st March 2022 the Charity employed 76 paid staff, of which 21 were full time employees (35 hours or more), together with 49 registered volunteers.

The Charity prepares an Annual Plan and Budget each year, and its operation, expenditure and income are reviewed regularly to monitor compliance or otherwise.

d. Policies adopted for the induction and training of Trustees

The Charity aims to ensure that everyone interested in standing as a Trustee is fully informed of what the role involves, and this is reflected in the recruitment and induction process.

New TrusteeV�DWWHQG�DQ�LQGXFWLRQ�VHVVLRQ�DW�WKH�&KDULW\¶V�KHDG�RIILFH�DQG�DW�WKH�:LOOLDP�9HQWRQ�&HQWUH�DQG� are also offered a guided tour of all Charity services by the Chair and/or the Chief Executive Officer.

The induction session includes:

�$Q�RYHUYLHZ�RI�WKH�organisation, its culture and values

�7KH�REOLJDWLRQV�DQG�GXWLHV�RI�WKH�([HFXWLYH�&RPPLWWHH�0HPEHUV� FROOHFWLYHO\�DQG�LQGLYLGXDOO\ �

�7KH�NH\�GRFXPHQWV�ZKLFK�VHW�RXW�WKH�RSHUDWLRQDO�IUDPHZRUN�IRU�WKH�&KDULW\�LQFOXGLQJ�WKH�$UWLFOHV�RI� Association, the last audited accounts and annual review.

*Future plans and objectives

All new Trustees receive a comprehensive induction pack which includes a Trustee handbook, information relating to the above and information from the Charity Commission on the responsibilities of Trustees. Trustees also attend training courses and legal seminars to maintain and enhance their charity law knowledge.

e. Related party relationships

Age UK Plymouth (registered as Plymouth Age Concern) is an independent Charity, although it is a Brand Partner of Age UK the National Charity and a member of the Age England Association.

7KH�&KDULW\�KDV�RQH�ZKROO\�RZQHG�VXEVLGLDU\�FRPSDQ\�µ3O\PRXWK�����/WG¶�ZKLFK�LV�FXUUHQWO\�D�GRUPDQW� company.

f. Financial risk management

The Executive Committee have overall responsibility for ensuring that the Charity has an appropriate system RI�FRQWUROV��LQFOXGLQJ�ILQDQFLDO�FRQWUROV��7KH�&KDULW\¶V�V\VWHPV�RI�LQWHUQDl control are designed to provide reasonable assurance against material financial loss to the Charity.

A formal risk management register and action plan is in place across the Charity, which is reviewed and tested bi-annually. Risks are also mitigated through policies and procedures covering all areas of operational practice.

The Finance and Investment Committee oversees the work on risk management, reviewing the risk register, and making recommendations to the Executive Committee when appropriate.

Page 13

PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

Plans for future periods

The Chief Executive Officer is working closely with the Trustees and senior management team to ensure that the Charity benefits from the operational and strategic benefits that the short-term care centre will provide. The development of the short-term care centre is already acting as a catalyst that is enabling existing services to be enhanced and new services such as discharge support and community meals to be developed. The Chief Executive Officer and the senior management team will continue to work closely with the Trustees on the development and the brand value opportunities it provides as the 2023- 2026 business plan is developed and implemented.

Age UK Plymouth will in the 2023-2026 business plan set ambitious but deliverable financial and operational targets. These will include:

Aligned with and included in the three-year Business Plan (2023-2026) will be a:

Page 14

PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022

STATEMENT OF TRUSTEE6¶�5(63216,%,/,7,(6

The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and 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.

Disclosure of information to auditors

Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:

Auditors

The auditors, Bishop Fleming LLP, have indicated their willingness to continue in office. A motion will propose reappointing the auditors at the next Annual General Meeting.

Approved by order of the members of the Board of Trustees on and signed on their behalf by:16/12/2022

Benny Wright (Chair of Trustees)

Page 15

PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PLYMOUTH AGE CONCERN

OPINION

We have audited the financial statements of Plymouth Age Concern (the 'charity') for the year ended 31 March 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

BASIS FOR OPINION

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

CONCLUSIONS RELATING TO GOING CONCERN

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

OTHER INFORMATION

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Page 16

PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PLYMOUTH AGE CONCERN (CONTINUED)

OPINION ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006

In our opinion, based on the work undertaken in the course of the audit:

MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:

RESPONSIBILITIES OF TRUSTEES

As explained more fully in the Trustees' Responsibilities Statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Page 17

PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PLYMOUTH AGE CONCERN (CONTINUED)

AUDITORS' RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

As a result of these procedures, we have considered the opportunities and incentives that may exist within the organisation for fraud and identified the highest area of risk to be in relation to income recognition, with a particular risk in relation to year-end cut off. In common with all audits under ISAs (UK) we are also required to perform specific procedures to respond to the risk of management override.

We have also obtained an understanding of the legal and regulatory frameworks that the Charity operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the Charities Act 2011, Charity SORP 2019, UK Companies Act, and FRS102.

In addition, we considered the provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the Charity’s ability to operate or avoid a material penalty. These included the Health & Social Care Act, data protection legislation, health and safety regulations, safeguarding regulations and employment legislation.

Our procedures to respond to risks identified included the following:

Page 18

PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF PLYMOUTH AGE CONCERN (CONTINUED)

We also communicated identified laws and regulations and potential fraud risks to all members of the engagement team and remained alert to possible indicators of fraud or non-compliance with laws and regulations throughout the audit.

As a result of the inherent limitations of an audit, there is a risk that not all irregularities, including a material misstatement in financial statements or non-compliance with regulation, will be detected by us. The risk increases the further removed compliance with a law and regulation is from the events and transactions reflected in the financial statements, given we will be less likely to be aware of it, or should the irregularity occur as a result of fraud rather than a one-off error, as this may involve intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.

USE OF OUR REPORT

This report is made solely to the Charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Charity's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Pamela Tuckett FCA DChA (Senior Statutory Auditor) for and on behalf of Bishop Fleming LLP Chartered Accountants Statutory Auditors Salt Quay House 4 North East Quay Sutton Harbour Plymouth PL4 0BN

Date: 21 December 2022

Page 19

PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2022

Note
Income and
endowments from:
Donations and legacies
4
Charitable activities
5
Investments
6
Other income
7
Total income and
endowments
Expenditure on:
Raising funds
8
Charitable activities
Total expenditure
Net (expenditure)/
income before net
(losses)/ gains on
investments
Net (losses)/gains on
investments
Net (expenditure)/
income
Transfers between
funds
17
Net movement in
funds
Reconciliation of
funds:
Total funds brought
forward
Net movement in funds
Total funds carried
forward		 Endowment
funds
2022
£
-
-
33,708
-
33,708
8,370
55,075
63,445
(29,737)
(260,665)
(290,402)
(32,665)
(323,067)
2,101,366
(323,067)
1,778,299		 Restricted
funds
2022
£
92,941
100,679
-
-
193,620
-
200,881
200,881
(7,261)
-
(7,261)
(28,652)
(35,913)
153,112
(35,913)
117,199		 Unrestricted
funds
2022
£
89,411
697,954
18,354
32,117
837,836
32,589
959,566
992,155
(154,319)
421,359
267,040
61,317
328,357
806,132
328,357
1,134,489		 Total
funds
2022
£
182,352
798,633
52,062
32,117
1,065,164
40,959
1,215,522
1,256,481
(191,317)
160,694
(30,623)
-
(30,623)
3,060,610
(30,623)
3,029,987		 Total
funds
2021
£
141,628
767,617
47,745
11,044
968,034
42,067
1,174,961
1,217,028
(248,994)
365,753
116,759
-
116,759
2,943,851
116,759
3,060,610

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 23 to 42 form part of these financial statements.

Page 20

PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE) REGISTERED NUMBER:01499927

BALANCE SHEET AS AT 31 MARCH 2022

Note
Fixed assets
Tangible assets
13
Investments
14
Current assets
Stocks
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due within one
year
16
Net current assets
Total net assets
Charity funds
Endowment funds
17
Restricted funds
17
Unrestricted funds
17
Total funds		 3,518
193,515
185,191
382,224
(202,457)		 2022
£
1,133,992
1,716,228
2,850,220
179,767
3,029,987
1,778,299
117,199
1,134,489
3,029,987		 1,378
91,770
122,440
215,588
(56,564)		 2021
£
988,817
1,912,769
2,901,586
159,024
3,060,610
2,101,366
153,112
806,132
3,060,610

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

B Wright (Chair of Trustees) Date: 16 December 2022

The notes on pages 23 to 42 form part of these financial statements.

Page 21

PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022

Cash flows from operating activities
Net cash used in operating activities
Cash flows from investing activities
Dividends, interests and rents from investments
Proceeds from the sale of tangible fixed assets
Purchase of tangible fixed assets
Proceeds from sale of investments
Purchase of investments
Management of liquid resources
Net cash provided by investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year		 2022
£
(129,203)
52,062
(551)
(217,894)
966,548
(592,976)
(15,235)
191,954
62,751
122,440
185,191		 2021
£
(277,375)
47,745
(37,950)
-
281,018
(259,919)
(13,372)
17,522
(259,853)
382,293
122,440

The notes on pages 23 to 42 form part of these financial statements

Page 22

PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1. GENERAL INFORMATION

The Charity is a Company limited by guarantee and does not have share capital. Every member of the Company undertakes to contribute to the assets of the Company if it is wound up during the period he or she is a member, or within one year afterwards, for payments of debts and liabilities of the Company contracted before the time at which he or she ceases to be a member, and of the costs, charges and expenses of winding up the same and for the adjustment of the rights of the contributories among themselves, such as amounts as may be required not exceeding £1. The Company is registered in England and Wales and is a public benefit entity. The registered office is at The William & Patricia Venton Centre, Astor Drive, Mount Gould, Plymouth, PL4 9RD. The registered number is 01499927.

2. ACCOUNTING POLICIES

2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Plymouth Age Concern meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The presentational currency is pounds sterling and the financial statements are rounded to the nearest £.

2.2 GOING CONCERN

The Trustees have reviewed the circumstances of the Charity and consider that there are adequate resources to continue its operations for the foreseeable future. As a result, the Trustees have continued to adopt the going concern basis of accounting in preparing the financial statements.

A further review of the going concern status of the Charity is located within the Trustees' Report.

Page 23

PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

2. ACCOUNTING POLICIES (continued)

2.3 INCOME

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured.

Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

2.4 EXPENDITURE

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

2.5 GOVERNMENT GRANTS

Government grants are credited to the Statement of Financial Activities as the related expenditure is incurred.

Page 24

PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

2. ACCOUNTING POLICIES (continued)

2.6 TANGIBLE FIXED ASSETS AND DEPRECIATION

Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property - 2% straight-line on buildings, 0% on land Motor vehicles - 15% straight line Fixtures and fittings - 15% to 30% reducing balance

2.7 INVESTMENTS

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of Financial Activities.

Investments in subsidiaries are valued at cost less provision for impairment.

Investments in associates are stated at the amount of the Charity's share of net assets. The Statement of Financial Activities includes the Charity's share of the associated companies' net income or expenditure using the equity accounting basis. As the associate is a charity, the investment is presented within restricted funds.

2.8 STOCKS

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.9 CASH AT BANK AND IN HAND

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page 25

PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

2. ACCOUNTING POLICIES (continued)

2.10 LIABILITIES AND PROVISIONS

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.

2.11 PENSIONS

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

2.12 FUND ACCOUNTING

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

3. CRITICAL ACCOUNTING ESTIMATES AND AREAS OF JUDGEMENT

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

The preparation of the financial statements requires management to make judgements, estimates and assumptions that effect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. Whilst there is a level of assumption in these judgements, the Trustees feel these are unlikely to have a significant effect on, or cause material error to the amounts recognised in the financial statements.

Page 26

PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

4. INCOME FROM DONATIONS AND LEGACIES

Donations
Legacies
Grants
COVID-19 Grant
Donations
Legacies
COVID-19 Grant		 Restricted
funds
2022
Unrestricted
funds
2022
£
£
4,990
77,831
-
11,580
81,777
-
6,174
-
92,941
89,411
Restricted
funds
2021
Unrestricted
funds
2021
£
£
-
43,207
-
52,702
45,719
-
45,719
95,909		 Total
funds
2022
£
82,821
11,580
81,777
6,174
182,352
Total
funds
2021
£
43,207
52,702
45,719
141,628

5. INCOME FROM CHARITABLE ACTIVITIES

Care services
Short term care centre
Care services		 Restricted
funds
2022
Unrestricted
funds
2022
£
£
100,679
654,394
-
43,560
100,679
697,954
Restricted
funds
2021
Unrestricted
funds
2021
£
£
267,710
499,907		 Total
funds
2022
£
755,073
43,560
798,633
Total
funds
2021
£
767,617

Page 27

PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

6. INVESTMENT INCOME

Income from listed investments
Income from listed investments		 Endowment
funds
2022
Unrestricted
funds
2022
£
£
33,708
18,354
Endowment
funds
2021
Unrestricted
funds
2021
£
£
26,115
21,630		 Total
funds
2022
£
52,062
Total
funds
2021
£
47,745

7. OTHER INCOMING RESOURCES

Rental and other income
Rental and other income		 Unrestricted
funds
2022
£
32,117
Unrestricted
funds
2021
£
11,044		 Total
funds
2022
£
32,117
Total
funds
2021
£
11,044

8. INVESTMENT MANAGEMENT COSTS

Endowment Unrestricted Total
funds funds funds
2022 2022 2022
£ £ £
Investment management fees 8,370 6,865 15,235

Page 28

PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

8. INVESTMENT MANAGEMENT COSTS (CONTINUED)

Endowment Unrestricted Total
funds funds funds
2021 2021 2021
£ £ £
Investment management fees 7,460 5,912 13,372

9. ANALYSIS OF EXPENDITURE BY ACTIVITIES

Care Services
Short term care centre
Care Services		 Activities
undertaken
directly
2022
£
914,933
-
914,933
Activities
undertaken
directly
2021
£
814,510		 Support
costs
2022
£
269,218
31,371
300,589
Support
costs
2021
£
360,451		 Total
funds
2022
£
1,184,151
31,371
1,215,522
Total
funds
2021
£
1,174,961

Page 29

PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

9. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED)

ANALYSIS OF SUPPORT COSTS

Care
Services
2022
£
Depreciation
69,508
Equipment purchases and maintenance
15,041
Printing, postage, stationery and advertising
13,667
Financial and administrative costs
9,468
Professional fees
27,954
(Gain)/Loss on disposals of assets
3,211
Premises costs
120,369
Governance costs
10,000
269,218
Care
Services
2021
£
Depreciation
72,978
Equipment purchases and maintenance
17,932
Printing, postage, stationery and advertising
16,184
Financial and administrative costs
6,228
Professional fees
35,829
Premises costs
199,190
Governance costs
12,110
360,451
10.
AUDITORS' REMUNERATION
Fees payable to the Charity's auditor for the audit of the Charity's annual
accounts
Fees payable to the Charity's auditor in respect of:
All non-audit services not included above		 Short term
care centre
2022
£
-
-
-
-
-
-
31,371
-
31,371
Short term
care centre
2021
£
-
-
-
-
-
-
-
-
2022
£
10,000
1,400		 Total
funds
2022
£
69,508
15,041
13,667
9,468
27,954
3,211
151,740
10,000
300,589
Total
funds
2021
£
72,978
17,932
16,184
6,228
35,829
199,190
12,110
360,451
2021
£
9,360
-

Page 30

PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

11. STAFF COSTS

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2022
£
809,179
35,790
10,637
855,606		 2021
£
696,028
23,575
6,753
726,356

The average number of persons employed by the Charity during the year was as follows:

2022 2021
No. No.
Average Employees 67 54

No employee received remuneration amounting to more than £60,000 in either year.

Key management personnel, including the previous Chief Executive (who was not employed and paid via an agency) and other Senior Management Team members, received remuneration (including employer pension contributions, excluding employer's national insurance contributions) during the year totalling £147,287 (2021: £190,226).

12. TRUSTEES' REMUNERATION AND EXPENSES

During the year, no Trustees received any remuneration or other benefits (2021 - £NIL).

During the year ended 31 March 2022, no Trustee expenses have been incurred (2021 - £NIL).

Page 31

PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

13. TANGIBLE FIXED ASSETS

COST OR VALUATION
At 1 April 2021
Additions
Disposals
At 31 March 2022
DEPRECIATION
At 1 April 2021
Charge for the year
On disposals
At 31 March 2022
NET BOOK VALUE
At 31 March 2022
At 31 March 2021		 Freehold
property
£
2,996,502
-
-
2,996,502
2,085,449
55,075
-
2,140,524
855,978
911,053		 Motor
vehicles
£
24,710
-
-
24,710
4,512
3,030
-
7,542
17,168
20,198		 Fixtures and
fittings
£
456,486
217,894
(20,392)
653,988
398,920
11,403
(17,181)
393,142
260,846
57,566		 Total
£
3,477,698
217,894
(20,392)
3,675,200
2,488,881
69,508
(17,181)
2,541,208
1,133,992
988,817

The cost of land and buildings includes non-depreciable land of £510,000 (2021: £510,000). The amount held on capital funds at the year end is the net book value of freehold land and buildings known as the William & Patricia Venton Centre which is £855,978 (2021: £911,053). This was valued by an independent surveyor in April 2019 and was impaired in the 2020 to recognise the decrease in the buildings fair value.

Page 32

PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

14. FIXED ASSET INVESTMENTS

COST OR VALUATION
At 1 April 2021
Additions
Disposals
Revaluations
AT 31 MARCH 2022
NET BOOK VALUE
AT 31 MARCH 2022
AT 31 MARCH 2021		 Investments
in
subsidiary
companies
£
1
-
-
-
1
1
1		 Investments
in
associates
£
1
-
(1)
-
-
-
1		 Listed
investments
£
1,912,767
592,886
(936,193)
146,767
1,716,227
1,716,227
1,912,767		 Total
£
1,912,769
592,886
(936,194)
146,767
1,716,228
1,716,228
1,912,769

PRINCIPAL SUBSIDIARIES

The following was a subsidiary undertaking of the Charity:

Name Company Registered office or principal Principal activity number place of business Plymouth 50+ Ltd (dormant) 08350229 The William & Patricia Dormant Company VentonCentre, Astor Drive, Mount Gould,Plymouth, PL4 9RD.

Class of Holding Included in shares consolidation Ordinary 100% No

The financial results of the subsidiary for the year were:

Name Plymouth 50+ Ltd (dormant)

Net assets £ 1

Page 33

PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

15. DEBTORS

DUE WITHIN ONE YEAR
Trade debtors
Other debtors
Prepayments and accrued income		 2022
£
185,388
1,914
6,213
193,515		 2021
£
35,860
-
55,910
91,770

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
Resources deferred during the year		 2022
£
49,863
16,309
29,779
106,506
202,457
2022
£
90,720		 2021
£
23,410
1,584
1,716
29,854
56,564
2021
£
-

The deferred income balance relates to short term care centre contract income received in advance.

Page 34

PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

17. STATEMENT OF FUNDS STATEMENT OF FUNDS - CURRENT YEAR

Balance at 1
April 2021
£
UNRESTRICTED
FUNDS
DESIGNATED
FUNDS
Mount Gould
refurbishment
131,000
GENERAL FUNDS
General Funds
675,132
TOTAL
UNRESTRICTED
FUNDS
806,132
ENDOWMENT
FUNDS
Endowment
Fund
2,101,366		 Income
£
Expenditure
£
-
-
837,836
(992,155)
837,836
(992,155)
33,708
(63,445)		 Transfers
in/out
£
77,664
(16,347)
61,317
(32,665)		 Gains/
(Losses)
£
-
421,359
421,359
(260,665)		 Balance at
31 March
2022
£
208,664
925,825
1,134,489
1,778,299

Page 35

PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

17. STATEMENT OF FUNDS (CONTINUED)

RESTRICTED
FUNDS
Coronavirus Job
Retention
Fund
Venton Centre
Refurbishment
Grant
Mayflower
Sparks 400
Staff events
committee
Co-op
community
fund
The National
Lottery
Armed Forces
Covenant
Western Power
Distrubtion
Other restricted
projects
Restricted funds
spent on fixed
assets
Kickstart
Phone Friends -
Community
Wellbeing Hub
TOTAL OF
FUNDS		 Balance at 1
April 2021
£
-
12,418
999
282
4,032
77,278
395
3,820
28,666
25,222
-
-
-
153,112
3,060,610		 Income
£
6,174
-
-
-
-
-
-
-
85,714
-
55,213
19,955
26,564
193,620
1,065,164		 Expenditure
£
(6,174)
-
(999)
(282)
-
(54,323)
(395)
-
(70,477)
(5,820)
(55,213)
(7,198)
-
(200,881)
(1,256,481)		 Transfers
in/out
£
-
(12,418)
-
-
(4,032)
-
-
-
(12,202)
-
-
-
-
(28,652)
-		 Gains/
(Losses)
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
160,694		 Balance at
31 March
2022
£
-
-
-
-
-
22,955
-
3,820
31,701
19,402
-
12,757
26,564
117,199
3,029,987

Page 36

PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

17. STATEMENT OF FUNDS (CONTINUED)

Designated funds

£131,000 has been designated by Trustees from unrestricted funds for the refurbishment of the Mount Gould premises. This was fully spent in year. The transfer in to this fund relates to other capital expenditure incurred on this refurbishment. The closing position represents the NBV of the assets at the year end.

Endowment funds

The net book value of the William and Patricia Venton Centre is included under Endowment funds as it was part of the original gift, along with the Brewin Dolphin investment portfolio value.

Restricted funds

Venton Centre Refurbishment Grant - this fund represents a grant received from The Venton Trust for refurbishment works.

Mayflower Sparks 400 - this represents funding received from Plymouth City Council to deliver a creative project to celebrate the 400th anniversary of The Mayflower. The project has been extended until July 2021.

Staff Events Committee - this fund represents income from staff fundraising which is to be spent on charitable activities voted by the members.

Co-op Community Fund - this fund represents a restricted donation from The Co-op Community Fund to pay for cream teas, dementia lunches and day trips.

Coronavirus Job Retention Fund - this fund represents income received from HMRC to specifically fund the salaries of furloughed staff.

The National Lottery - this fund represents a grant to enable social engagement and reduce loneliness and for ongoing support during the Covid-19 pandemic.

Armed Forces Covenant - this represents income to use for community projects that reduce isolation and loneliness.

Western Power Distribution - this represents income from Western Power as part of their 'in this together' fund to help communities recover from the Covid-19 pandemic.

Other Restricted Projects - this represents income from Elsie Pilkington to purchase a van for home visits, Plymouth City Council to purchase PPE and cleaning items for infection control, income received as part of the Big Bike Revival in order to make cycling more assessable to everyone and Francis Winham Foundation and Mclay Dementia Trust for items to use in the dementia centre. This also includes grants from Clothortks Foundation, Morrisons, SWW Neighbourhood Fund. All restricted funds are to be used in furtherance of the Charity's objects.

Restricted funds spent on fixed assets - this represents the net book value of assets of restricted fixed assets.

Kickstart - this represents income from the government to create new jobs for 16-24 year olds on Universal Credit who are at risk of long term unemployment.

Phone Friends - Community - this fund represents income from Plymouth City Council, to support our COVID 19 "phone friend" service to transition to a face to face activity service.

Wellbeing Hub - this fund represents income from Plymouth City Council to create rooms to be used as part of the new Mount Gould Ageing Wellbeing Hub, in order to make access to services easier for the community.

Page 37

PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

17. STATEMENT OF FUNDS (CONTINUED) STATEMENT OF FUNDS - PRIOR YEAR

UNRESTRICTED
FUNDS
DESIGNATED
FUNDS
Mount Gould
refurbishment
GENERAL FUNDS
General Funds
TOTAL
UNRESTRICTED
FUNDS
ENDOWMENT
FUNDS
Endowment Fund		 Balance at
1 April 2020
£
-
1,000,392
1,000,392
1,915,349		 Income
£
-
628,490
628,490
26,115		 Expenditure
£
-
(964,364)
(964,364)
(62,535)		 Transfers
in/out
£
131,000
(132,702)
(1,702)
-		 Gains/
(Losses)
£
-
143,316
143,316
222,437		 Balance at
31 March
2021
£
131,000
675,132
806,132
2,101,366

Page 38

PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

17. STATEMENT OF FUNDS (CONTINUED)

RESTRICTED
FUNDS
Coronavirus Job
Retention
Fund
Venton Centre
Refurbishment
Grant
Mayflower Sparks
400
Staff events
committee
Co-op community
fund
The National
Lottery
Armed Forces
Covenant
Western Power
Distrubtion
Other restricted
projects
Restricted funds
spent on fixed
assets
TOTAL OF
FUNDS		 Balance at
1 April 2020
£
-
2,328
2,428
402
300
10,000
-
-
12,652
-
28,110
2,943,851		 Income
£
45,719
103,824
-
-
4,032
81,538
11,618
6,650
60,048
-
313,429
968,034		 Expenditure
£
(45,719)
(93,734)
(1,429)
(120)
(300)
(5,760)
(8,248)
(814)
(34,005)
-
(190,129)
(1,217,028)		 Transfers
in/out
£
-
-
-
-
-
(8,500)
(2,975)
(2,016)
(10,029)
25,222
1,702
-		 Gains/
(Losses)
£
-
-
-
-
-
-
-
-
-
-
-
365,753		 Balance at
31 March
2021
£
-
12,418
999
282
4,032
77,278
395
3,820
28,666
25,222
153,112
3,060,610

Page 39

PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

18. SUMMARY OF FUNDS

SUMMARY OF FUNDS - CURRENT YEAR

Balance at
Balance at 1 Transfers Gains/ 31 March
April 2021 Income Expenditure in/out (Losses) 2022
£ £ £ £ £ £
Designated
funds 131,000 - - 77,664 - 208,664
General funds 675,132 837,836 (992,155) (16,347) 421,359 925,825
Endowment
funds 2,101,366 33,708 (63,445) (32,665) (260,665) 1,778,299
Restricted funds 153,112 193,620 (200,881) (28,652) - 117,199
3,060,610 1,065,164 (1,256,481) - 160,694 3,029,987
SUMMARY OF FUNDS - PRIOR YEAR
Balance at
Balance at Transfers Gains/ 31 March
1 April 2020 Income Expenditure in/out (Losses) 2021
£ £ £ £ £ £
Designated
funds - - - 131,000 - 131,000
General funds 1,000,392 628,490 (964,364) (132,702) 143,316 675,132
Endowment
funds 1,915,349 26,115 (62,535) - 222,437 2,101,366
Restricted funds 28,110 313,429 (190,129) 1,702 - 153,112
2,943,851 968,034 (1,217,028) - 365,753 3,060,610

19. ANALYSIS OF NET ASSETS BETWEEN FUNDS ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR

Tangible fixed assets
Fixed asset investments
Current assets
Creditors due within one year
TOTAL		 Endowment
funds
2022
£
855,978
922,321
-
-
1,778,299		 Restricted
funds
2022
Unrestricted
funds
2022
£
£
19,402
258,612
-
793,907
97,797
284,427
-
(202,457)
117,199
1,134,489		 Total
funds
2022
£
1,133,992
1,716,228
382,224
(202,457)
3,029,987

Page 40

PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

19. ANALYSIS OF NET ASSETS BETWEEN FUNDS (CONTINUED)

ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR

Endowment
funds
2021
Restricted
funds
2021
£
£
Tangible fixed assets
911,053
25,222
Fixed asset investments
1,190,313
-
Current assets
-
127,890
Creditors due within one year
-
-
TOTAL
2,101,366
153,112
20.
RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW
ACTIVITIES
Net income/expenditure for the year (as per Statement of Financial
Activities)
ADJUSTMENTS FOR:
Depreciation charges
Losses on investments
Dividends, interests and rents from investments
Loss on the sale of fixed assets
Decrease/(increase) in stocks
Increase in debtors
Increase/(decrease) in creditors
NET CASH USED IN OPERATING ACTIVITIES
21.
ANALYSIS OF CASH AND CASH EQUIVALENTS
Cash in hand
TOTAL CASH AND CASH EQUIVALENTS		 Unrestricted
funds
2021
Total
funds
2021
£
£
52,542
988,817
722,456
1,912,769
87,698
215,588
(56,564)
(56,564)
806,132
3,060,610
FROM OPERATING
2022
2021
£
£
(30,623)
116,759
69,508
72,978
(160,694)
(365,753)
(52,062)
(47,745)
2,660
-
(2,140)
658
(73,650)
(53,904)
117,798
(368)
(129,203)
(277,375)
2022
2021
£
£
185,191
122,440
185,191
122,440

Page 41

PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

22. ANALYSIS OF CHANGES IN NET DEBT

At 1 April At 31 March
2021 Cash flows 2022
£ £ £
Cash at bank and in hand 122,440 62,751 185,191

23. PENSION COMMITMENTS

The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the Charity to the fund and amounted to £10,637 (2021: £6,753). £1,684 (2021: £1,716) was payable to the fund at the balance sheet date and is included in creditors.

24. OPERATING LEASE COMMITMENTS

At 31 March 2022 the Charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:

Not later than 1 year
Later than 1 year and not later than 5 years		 2022
£
3,835
7,031
10,866		 2021
£
3,660
1,830
5,490

25. RELATED PARTY TRANSACTIONS

In the year to 31 March 2022, £Nil (2021: £2,085) was received from Age UK Devonwide Enterprises Limited, a partly owned associate of the Charity towards the cost of the Active Living Programme. This income was unrestricted. There was no balance receivable at the year end or at the prior year end.

26. CONTROLLING PARTY

The Charity's ultimate controlling party is the Board of Trustees.

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