## **Elderly Accommodation Counsel**
Registered charity Company limited by guarantee
**Report and Financial Statements for the year ended 31[st] December 2021**
Company Registration Number 01955490 Charity Registration Number 292552
## **Contents**
**----- Start of picture text -----**
|||
|---|---|
|Page|
|Report of the Trustees|1|
|1. Introduction|1|
|2. Overview of the year|1|
|3. Key Activities, Achievements and Performance|2|
|4. Legal and Financial Report|5|
|5. Structure, Governance and Management|7|
|6. Acknowledgements|8|
|7. Looking Ahead in 2022|9|
|11|
|Statement of Financial Activities|15|
|Balance Sheet|17|
|Statement of cash flows|18|
|Notes to the Accounts|19|
|Reference and Administrative Information|26|
**----- End of picture text -----**
**Elderly Accommodation Counsel**
## **Report of the Trustees**
**for the year ended 31[st] December 2021**
## **Declaration**
The Trustees present their report and financial statements for the year ended 31 December 2021. The financial statements have been prepared in accordance with the Charities document.
## **1. Introduction**
This report is provided by the Trustees of Elderly Accommodation Counsel (EAC), charity no 292552, whose operating office is at Brigade House, Brigade Street, London SE3 0TW. EAC is a registered Company (no 01955490) private, limited by guarantee and with no share capital.
meeting their housing and care needs. Since 1985 we have done this by compiling extensive directories of housing and care facilities and services for older people, making these widely available through our website HousingCare.org, and providing a free telephone Advice Line service.
rustees in the year were:-
- Professor Ann Netten
- Christopher Manthorp (resigned 10/03/21)
- Gemma Penn Bruce Moore
## **2. Overview of the year**
The Board of Trustees held 7 meetings during 2021 and 5 to date in 2022. Most meetings now include allocated time for formal business, followed by an open forum for wide-ranging discussion on aspects of the future structure and activities of the charity.
Formal business has included detailed oversight of the running Budget and Forecasts reports prepared by our CEO, alongside the quarterly Management Accounts prepared by our Finance Manager. We are very pleased to report that the drawdown from reserves in 2019 and 2020, to a small surplus balance in 2021.
Our room for manoeuvre, and optimism about the future, has grown during 2022. The impact of cost reduction measures taken in 2020 and 2021 is now accompanied by increasing earnings from our data assets and website, enabling us to project another small surplus for 2022. This has enabled and encouraged us to evaluate a wider range of future options as the year progressed.
1
## **Elderly Accommodation Counsel**
## **Report of the Trustees**
## **for the year ended 31[st] December 2021**
Financial scrutiny has extended beyond budget setting and reporting to encompass a thorough review of our reserves needs and policy, and separately, detailed costing of a succession plan to bring new senior staff into the charity.
However - over recent months we have had to remind ourselves that the challenges that preoccupied us from the start of 2020 have been replaced by new challenges. We, along with most businesses, charities and statutory authorities, face a raft of serious new uncertainties and threats. We live in extremely volatile times in which EAC will neither remain relevant, nor compete successfully for the resources to survive and grow, without an informed, forward looking strategy and the energy and wit to pursue it.
Blue sky thinking over the last 12 months has therefore addressed core questions about EAC's identity, values, priorities and business model. These are questions we have not explicitly re-addressed for many years, and perhaps understandably our journey has been exploratory and iterative, with digressions along the way to gather and interpret evidence, initiate conversations with other agencies, and model scenarios that interested us.
Our history of partnering led us to spend considerable time exploring structural options for the future, including:
- identifying and appraising potential partners amongst similarly sized, specialist and complementary non-profit organisations;
- separate entities;
- project or function-based partnerships to develop specific EAC activities or create joint charitable services or commercial products;
We are currently exploring the potential to attract commercial investment into sets, whilst also identifying opportunities to reinforce the case for Government re-investment in a FirstStop-type model of providing a national housing options advice service to older people.
As at August 2022 we recognise that some of these options cannot be progressed quickly because of the state of flux in which potential partner organisations also find organisational, structural and collaborative options whilst also focusing in the immediate on delivering our charitable services and achieving the balanced budget we have projected in our current Budget and Forecasts.
## **3. Key Activities, Achievements and Performance**
Over the last 12 months our main activities have been:
## **Maintaining our information directories and website HousingCare.org**
public services and continuing to increase its independent income.
2
## **Elderly Accommodation Counsel**
## **Report of the Trustees**
**for the year ended 31[st] December 2021**
Our directory of all UK retirement housing is detailed and unique, encompassing all specialist housing available to older people. It includes comprehensive coverage of and recognises that across the board, older people considering moving home are more likely to find what they need and can afford through a re-sale or re-let of an older property than a new one. Maintaining the directory therefore requires regular checking and updating information on 25,500 existing developments alongside identifying around 200 new ones and a similar number of closures each year.
Our smaller directory of c.11,000 residential care and nursing homes includes homes that cater exclusively or primarily for older people.
Our directory of successfully, such as home improvement, handyperson and gardening services, aids and adaptations, transport and day centres, befriending and telecare services.
These directories, along with explanatory materials, populate the new HousingCare website we launched at the start of 2020. In the last 12 months the site received 3.5 million visitors.
## **EAC Advice a telephone advice service**
In mid 2021 we were able to re-launch an EAC telephone advice service, thanks to support from OneFamily, a mutual financial services organisation.
When planning EAC Advice from late 2020 we were determined to ensure we would be able to offer more time than in the past to those customers whose needs and circumstances warranted this. Happily this meant we were better able to respond to the experiences of the pandemic and its lingering aftermath that drove many older people or family members to contact us.
For the older generation, experiences of anxiety, isolation and loneliness; of inability to fulfil responsibilities to children and grandchildren; and of their own support services and networks suddenly curtailed or out of reach. For younger relatives, apprehension about not being there to help if something happened to Mum or Dad.
For both generations, much of their difficult thinking about housing and care options (" _Should I stay or should I move? Should we push Dad to live nearer us?_ ) had already been done, alone or in family conversations, and they looked for a knowledgeable and realistic appraisal of how to achieve a 'good enough' outcome without undue delay.
Gearing up to staff EAC Advice hadn't initially been easy, reflecting a loss of specialism. Despite this we assembled a team by bringing together 3 experienced advisors employed by EAC and 2 contracted from Bassetlaw Action Centre, which responded brilliantly to the demands of the moment.
3
## **Elderly Accommodation Counsel**
## **Report of the Trustees**
## **for the year ended 31[st] December 2021**
With 2.8 fte staffing we managed to keep the service open from 9am to 6pm on weekdays, and to respond to messages left outside these hours with call-backs, often in the evening and at weekends. We spent time showing many customers how the website is structured, what it contains and how to get the most from it which most found immensely helpful and empowering. Over 12 months EAC Advice helped nearly 5,000 older people to live better at home or to move to a more suitable home. Roughly 55% of customers were older people themselves, 40% family members or friends and 5% professionals.
e to older people and their families. Whilst the 12 month funding period proved too short to fully explore all the opportunities we initially identified for raising income from the service itself, it also become evident that increasing income from our website and information resources would be easier to achieve with the staffing resources we had available.
How we take forward EAC Advice remains an open question at the moment, but is central to our conversations with other information and advice organisations.
## **Subscription services to housing providers and related organisations**
For housing and care home providers our service augments the presentation on our website of their organisation and its facilities. For many we also feature currently available properties for rent and sale. The service is regarded as marketing by service, along with 4 national specialist estate and lettings agencies.
planning advisors, developers, investment brokers and funds dipped a little in 2021 but bounced back strongly from the start of 2022. This data product has now earned a reputation as the only comprehensive and independently monitored information about specialist housing for older people available, and subscribers are therefore generally keen to acknowledge EAC as data source for their analyses, reports and publications. Government departments DHSC and DLUHC, and an increasing number of local authorities, request either raw data or extracted statistics.
We are very encouraged by the increasing use of EAC data by each of the customer groups identified above, and excited by the potential to further develop and cannot afford to do.
## **Remaining in touch with individuals and plugging back into our networks**
EAC benefits greatly from its relationships with a number of overlapping networks of individuals and organisations operating across the spectrum of research, policy formulation and service delivery to older people. Maintaining these relationships became more difficult during the Covid pandemic, but during 2022 we are determinedly making up for lost time.
4
**Elderly Accommodation Counsel**
## **Report of the Trustees**
**for the year ended 31[st] December 2021**
## **4. Legal and Financial Report**
## **Our Charitable and Business Activities**
housing and care needs.
Our main charitable activities during 2021 were to maintain two websites and (from mid year) to provide an accompanying telephone advice line.
## **Websites**
HousingCare.org provides detailed information on all 36,500 retirement housing facilities and care homes in the UK, plus around 7,000 services that help older people live safely and well at home, and an extensive library of reading materials covering all aspects of understanding, comparing, accessing and affording suitable housing, care and support in later life.
hoop.eac.org.uk,
an alternative interface to EAC resources structured as suggestions in response to concerns that users identify.
## **EAC Advice**
In July 2021 we launched EAC Advice, a new telephone advice line closely linked to our websites.
## **Public Benefit**
the Public
Benefit guidance published by the Charity Commission. How the charity fulfils this responsibility is contained in the various sections of this report. Key outcomes were:
**----- Start of picture text -----**
Activity 2021
Detailed information compiled and regularly updated 25,548 retirement
on accommodation and services for older people, and housing developments
available on our HousingCare website 11,012 care homes
6,927 home services
Information and guidance materials produced for 18 Factsheets
older people, their families and professional who work
with them, and available on the HousingCare website 2 booklet Guides
HousingCare and HOOP users 3.5 million
Advice Line customers 2,263 (+ similar in 2022)
**----- End of picture text -----**
## **Remuneration policy**
EAC currently employs 2 salaried staff (1.8fte) and 7 specialist consultants (2.4 fte). It also benefits from the services of 2 (1.5 fte) staff employed by the charity Bassetlaw Action Centre and made available to us under a grant funding arrangement.
5
## **Elderly Accommodation Counsel**
## **Report of the Trustees**
## **for the year ended 31[st] December 2021**
Remuneration of all of our directly employed staff and consultants is at tested and sub-market rates. Our contract with Bassetlaw is based on market tested Advisor salaries of £27k pa.
## **Financial Out-turn**
Restricted income for the year involved the spending of the remainder of the National L £3,333). There were no new restricted funds in 2021.
Unrestricted income increased by c.10% over 2020, a trend which has continued into 2022 largely due to an ongoing rebuild o more revenue.
2021 also saw EAC secure an £81,000 donation from the OneFamily Foundation to part fund EAC Advice. This is income is spread evenly between 2021 and 2022.
Total expenditure in 2021 was £221k vs £283k in 2020 due to significant reductions in costs. This has brought the charity back to a position where its costs are covered by its income each year. This is forecast to continue in 2022. At 2021 year end eserves were £134,850.
## **Reserves Policy**
2022, under the same headings as in 2014 protection against disaster, cushion against the unforeseen and protection against / mitigating risk.
operations and unfinished work underway to set a new path, it made little sense to adopt a new reserves target that dealt only with those few risks that could be readily quantified. Instead we agreed that a sensible holding position was to set a reserves which we feel is prudent and commensurate with the charity's current turnover and scale of operation.
## **Treasury Management**
Total income in 2021 was £230,016, of which £3,333 was restricted grant funds. Funds were held across 3 accounts in 2 banks, both members of the Financial Services Compensation Scheme.
## **Risk Management**
The Covid-related challenges we faced from March 2020 were very different from those of the past, but at an early stage we appraised worst case risks, and on this basis adopted a survival strategy that cut costs where needed to achieve a broadly balanced budget for 2021 and beyond.
We maintained delivery to our key stakeholders, retained sufficient staff to ensure continuity, recruited new Trustees and by mid 2021 reached a point where we could project income matching expenditure over at least 18 months ahead. In the event,
6
## **Elderly Accommodation Counsel**
## **Report of the Trustees**
## **for the year ended 31[st] December 2021**
we beat our target, breaking even over 2021 as a whole, and moving into reliable small monthly surpluses since the start of 2022.
However, as 2022 unfolds we become ever more acutely aware of new risks and challenges that our society faces, and could impact on the charity. The cost of living crisis is an obvious one, but there are clearly other challenges ahead whose potential impacts are difficult to predict. So we will proceed cautiously as we seek to take advantage of the new opportunities we have managed to open up, both alone and in partnership with others. We will work within the framework of a balanced budget, continue to re-appraise risks and how we might ameliorate them, and ensure that our reserves are adequate to fund an orderly recovery from those risks we identify as most likely to impact on EAC.
## **Data Protection**
During 2017 we initiated a comprehensive review of how we store and manage personal data, and subsequently implemented a number of changes to ensure compliance with the requirements of the Data Protection Act 2018 and General Data Protection Regulation (GDPR).
## **5. Structure, Governance and Management**
## **Trustees**
audits.
We lost a longstanding and invaluable trustee (Chris Manthorp) to ill health in early 2021. However the commitment and expertise of our 2020 appointees Gemma Penn and work, has been inspirational.
The Board of Trustees met 7 times in 2021 and 5 times during 2022 to date as well as communicating regularly between meetings and offering support to our CEO as and when needed.
7
## **Elderly Accommodation Counsel**
## **Report of the Trustees**
**for the year ended 31[st] December 2021**
The Trustees (who are also directors of Elderly Accommodation Counsel 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 which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:
- Select suitable accounting policies and then apply them consistently; Observe the methods and principles in the Charities SORP;
- Make judgements and estimates that are reasonable and prudent;
- State whether applicable UK Accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as we are aware:
- There is no relevant audit information of which the charitable company's auditor is unaware; and
- The Trustees have taken all steps necessary to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.
## **Staff and Consultant Responsibilities**
At 2021 year end the charity employed 2 payroll staff (1.8 fte) and 7 regular consultants / contractors (2.4fte).
were John Galvin (Chief Executive) and Alex Billeter (Projects Manager). IT development and support is provided by John Wigley and his sub-contractors Andrew Foster and Dean Russell. Phil Prasad is responsible for Finance. Moyra Riseborough and Cecilia Brodigan are Housing Options Advisors. Ben Harrison is a data officer.
## **6. Acknowledgements**
8
## **Elderly Accommodation Counsel**
## **Report of the Trustees**
## **for the year ended 31[st] December 2021**
Several warm are in order this year, and as Chair I would like to record these in detail.
## **Thank You to Trustees and Staff**
We owe particular thanks to our newer Trustees for their unstinting efforts over the last two years to forge a bright future for EAC by helping rebuild its capacity to deliver a unique service to older people and their families, and extending its reach through collaboration and partnerships with other local and national organisations.
The Trustees in turn extend their thanks to each of our staff, consultants and contractors for their hard work and dedication through a demanding period.
Thank you all very much.
## **Thank You to our Subscribers**
providers and estate agencies who subscribe to our web marketing services and the 11 housing developers, investors, consultants and planners who licence our accommodation supply data.
We are grateful to you all for your continuing support.
## **Thank you to OneFamily**
OneFamily made a leap of faith in offering to support the re-launch of an EAC advice line service. As a mutual business which offers equity release and lifetime mortgage solutions to its many older members, its leadership team understood the importance of impartial and knowledgeable information and advice to good decision making in older age. Their contribution was a substantial one, replacing some of the smaller donations they would normally make.
We are very grateful for the opportunity this offered EAC to supplement the provision of information and guidance through our website with the offer of one-to-one conversations with those clients who wanted this.
Neil Sharp, who introduced us to OneFamily, helped strengthen our case for funding, and remained engaged throughout, deserves his own huge Thank You.
## **Thank You to Bassetlaw Action Centre (BAC)**
Finally our warm thanks to Lynn Tupling, CEO of BAC, and her team in Nottinghamshire, without whom we would have struggled to launch EAC Advice. They brought knowledge and professionalism to the role, plus a willingness to learn in order to be able to engage with and deliver to customers across the UK.
## **7. Looking Ahead in 2022**
The detailed work that we have done over the last year to understand the new landscape of information and advice services to older people and their families has been sobering, but is proving enormo
9
## **Elderly Accommodation Counsel**
## **Report of the Trustees**
## **for the year ended 31[st] December 2021**
the support services we might need are available, accessible and affordable. We were the first national organisation to devise an information and advice service dedicated to helping people to do this, and over the years we have encouraged and supported the creation of similar local services in many parts of the country.
But our recent fact-finding has shown how patchy and precarious the availability of gering impact on older people, continuing delays to reform and re-funding of social care, the re-emergence of pensioner poverty and the reality of a national housing stock still largely unfit to age in, and now even more expensive to heat in winter and indeed to keep cool in summer.
We fully understand why other larger charities, as well as local authorities, both with substantially reduced incomes, feel they need to focus their resources on fewer priorities, and on immediate and urgent problems. However, warm, accessible, many, independent information and advice is an essential stepping stone to achieving this.
vice offer faces increasingly of the care and retirement living markets.
So, as we continue to work on our forward plan, we are clear that our imperative must be to find a way of using the comparatively limited resources we have, our connections, IP assets and expertise, to make maximum impact on the availability who remain poorly served.
It has been a challenging period of research and reflection for both trustees and staff - but at the same time a liberating and exciting journey. We still have conversations to complete, and further work to do. But our intention is to focus the charity's strategic objectives, operations, staffing and partnerships around a realistic appraisal of how EAC can most effectively deliver its mission in an increasingly volatile, fragmented and competitive environment.
## **Signed on behalf of the Board of Trustees**
## **Professor Ann Netten, Chair of Trustees**
**Date: 02/09/2022**
10
## **Elderly Accommodation Counsel**
## **for the year ended 31[st] December 2021**
## **Opinion**
We have audited the financial statements of Elderly Accommodation Counsel for the year ended 31 December 2021 which comprise the Statement of Financial Activities, Balance Sheet, Statement of Cash Flows and notes to the financial statements, 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:
- December 2021
- the income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **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 We are independent of the charity in accordance with the ethical requirements that are 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**
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 trustees are responsible for the other information. The other information comprises the cial
11
## **Elderly Accommodation Counsel**
## **for the year ended 31[st] December 2021**
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.
In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.
## **Opinions on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- report prepared for the purposes of company law) for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the charitable company; or
- the charitable company financial statements are not in agreement with the accounting records and returns; or
- we have not received all the information and explanations we require for our audit; or
- the trustees were not entitled to prepare the financial statements in accordance
- strategic report.
## **Responsibilities of trustees for the financial statements**
set out on page 7, 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
12
## **Elderly Accommodation Counsel**
## **for the year ended 31[st] December 2021**
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 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.
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 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:
Based on our understanding of the charitable company and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to charity and company law applicable in England and Wales, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and the Charities Act 2011, and considered other factors such as income tax, payroll tax and sales tax.
the financial statements (including the risk of override of controls), and determined that the principal risks were related to revenue recognition and management override of controls. Audit procedures performed by the engagement team included:
- Inspecting correspondence with regulators and tax authorities;
- Discussions with management including consideration of known or suspected instances of non-compliance with laws and regulations and fraud;
-
- Identifying and testing journals, in particular journal entries posted with unusual account combinations, postings by unusual users or with unusual descriptions; and
13
## **Elderly Accommodation Counsel**
## **for the year ended 31[st] December 2021**
- Challenging assumptions and judgements made by management in their critical accounting estimates
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is at: www.frc.org.uk/auditorsresponsibilities.
## **Use of our report**
This report is made solely to the charitable company'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 charitable company's members those matters we are required to state to them in an Auditor's 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 the charitable company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
Lee Stokes (Senior Statutory Auditor) 10 Queen Street Place For and on behalf of Haysmacintyre LLP, Statutory Auditor London Date: 6 September 2022 EC4R 1AG
14
## **Elderly Accommodation Counsel**
## **Statement of Financial Activities**
## **for the year ended 31[st] December 2021**
**----- Start of picture text -----**
Unrestricted Restricted
funds funds
Total funds Total funds
Notes General Other 2021 2020
£ £ £ £
Income from:
Donations and legacies
Legacy & client donations 55 - 55 130
Organisations 40,500 - 40,500
Charitable activities
- - - 7,983
Research & Development 48,001 - 48,001 89,366
National Housing for Older People Awards - - - 6,700
Miscellaneous Charity Services - 3,333 3,333 7,027
Other trading activities 138,117 - 138,117 100,950
Investments 9 - 9 331
Total income 226,682 3,333 230,015 212,487
Less: Expenditure on raising funds
Fundraising and publicity (4,581) - (4,581) (5,784)
Net income 222,101 3,333 225,434 206,703
Expenditure on:
Charitable activities
1 5,530 - 5,530 22,797
Research & Development 1 56,369 - 56,369 78,700
National Housing for Older People Awards 1 (2,525) - (2,525) 10,509
Advice Service 1 52,613 - 52,613
Miscellaneous Charity Services 1 21,183 3,333 24,516 58,832
ICT development (from designated funds) 1 80,528 - 80,528 106,385
Total expenditure on charitable activities 213,698 3,333 217,031 277,223
Total expenditure 1 218,279 3,333 221,612 283,007
Net income/(expenditure) 8,403 - 8,403 (70,520)
Transfer between funds - - - -
Net movement in funds 8,403 - 8,403 (70,520)
Reconciliation of funds:
Fund balances brought forward at 1 January 2021 126,447 - 126,447 196,967
Fund balances carried forward at 31 December 2021 134,850 - 134,850 126,447
The accompanying notes form part of these financial statements.
**----- End of picture text -----**
15
## **Elderly Accommodation Counsel**
## **Statement of Financial Activities**
## **for the year ended 31[st] December 2020**
**----- Start of picture text -----**
Unrestricted Restricted
funds funds
Total funds
Notes General Other 2020
£ £ £
Income from:
Donations and legacies 130 - 130
Charitable activities
and services 7,983 - 7,983
Research & Development 89,366 - 89,366
National Housing for Older People Awards 6,700 - 6,700
Miscellaneous Charity Services 360 6,667 7,027
Other trading activities 100,950 - 100,950
Investments 331 - 331
Total income and endowments 205,820 6,667 212,487
Less: Expenditure on raising funds
Fundraising and publicity (5,784) - (5,784)
Net income and endowments 200,036 6,667 206,703
Expenditure on:
Charitable activities
1 22,797 - 22,797
Research & Development 1 78,700 - 78,700
National Housing for Older People Awards 1 10,509 - 10,509
Miscellaneous Charity Services 1 42,711 16,121 58,832
ICT development (from designated funds) 106,385 - 106,385
Total expenditure on charitable activities 261,102 16,121 277,223
Total expenditure 1 266,886 16,121 283,007
Net income/(expenditure) (61,066) (9,454) (70,520)
Transfer between funds (9,454) 9,454 -
Net movement in funds (70,520) - (70,520)
Reconciliation of funds:
Funds balance brought forward at 1 January 2020 196,967 - 196,967
Funds balance carried forward at 31 December 2020 126,447 - 126,447
The accompanying notes form part of these financial statements.
**----- End of picture text -----**
16
## **Elderly Accommodation Counsel**
## **Balance Sheet**
## **At 31[st] December 2021**
|**Notes**
**FIXED ASSETS**
Intangible fixed assets
4
**CURRENT ASSETS**
Debtors
5
Cash at bank and in hand
**CREDITORS: amounts falling**
**due within one year**
6
**NET CURRENT ASSETS**
**NET ASSETS**
**FUNDS**
Unrestricted funds
General
Restricted Funds
7|**2021**
**£**
**£**
1
47,311
192,381
239,692
(104,843)
134,849
134,850
134,850
-
134,850|**2020**
**£**
**£**
1
24,584
186,633
211,217
(84,771)
126,446
126,447
126,447
-
126,447|**2020**
**£**
**£**
1
24,584
186,633
211,217
(84,771)
126,446
126,447
126,447
-
126,447|
|---|---|---|---|
||239,692
(104,843)|211,217
(84,771)||
|||||
||||126,447|
||||126,447
-|
||||126,447|
The Financial Statements were approved and authorised by Trustees on 2[nd] September 2022 and were signed on its behalf by
**A Netten Chair** Company registration number: 01955490
**B Moore Trustee**
17
## **Elderly Accommodation Counsel**
## **Statement of Cash Flows**
## **For the year ended 31[st] December 2021**
|**Statement of cash flows**
**Note**
**Cash flows from operating activities:**
**Net cash provided by (used in) operating activities**
1
**Cash flows from investing activities:**
Dividends, interest and rents from investments
**_Change in cash and cash equivalents in the reporting period_**
**Cash and cash equivalents at the beginning of the reporting**
**period**
2
**_Cash and cash equivalents at the end of the reporting period_**
2
**1. Reconciliation of net movement in funds to net cash flow**
**from operating activities**
**Net movement in funds for the reporting period (as per the**
**statement of financial activities)**
Adjustments for:
Dividends, interest and rents from investments
(Increase)/decrease in debtors
Increase/(decrease) in creditors
**Net cash provided by (used in) operating activities**
**2. Analysis of cash and cash equivalents**
Cash in hand
**Total cash and cash equivalents**|**2021**
**2020**
**£**
**£**
**5,739**
**(39,004)**
9
331|
|---|---|
||**5,748**
**(38,673)**
**186,633**
**225,306**|
||**192,381**
**186,633**|
||**2021**
**2020**
**£**
**£**
**8,403**
**(70,520)**
(9)
(331)
(22,727)
36,611
20,072
(4,764)|
||**5,739**
**(39,004)**|
||**2021**
**2020**
**£**
**£**
192,381
186,633|
||**192,381**
**186,633**|
18
## **Elderly Accommodation Counsel**
## **Notes to the accounts**
## **For the year ended 31[st] December 2021**
## **Accounting policies**
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
## **(a) Basis of preparation**
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 (FRS 102) (second edition effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
The charity 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 note(s).
## **(b) Preparation of accounts on a going concern basis**
The trustees have considered and reviewed financial position, reserves levels and future plans, and have confidence that the charity remains a going concern for the foreseeable future. The trustees consider there are no material uncertainties about the chari
## **(c) Fund accounting**
Unrestricted general funds comprise accumulated surpluses and deficits on general funds. They are available for use at the discretion of the Trustees in furtherance of the general charitable objectives. Designated funds are unrestricted funds earmarked by the Trustees for a specific purpose.
Restricted funds are funds subject to specific trusts which may be declared by the donors or with their authority, but are still within the objects of the charity.
## **(d) Income**
Income from charitable activities includes income received from grant funding or received under contract. Grant income and donations included in this category are recognised where there is entitlement, probability of receipt and the amount can be measured with sufficient reliability.
19
## **Elderly Accommodation Counsel**
## **Notes to the accounts**
## **For the year ended 31[st] December 2021**
## **Accounting Policies (continued)**
## **(e) Expenditure**
Expenditure is recognised on an accruals basis as a liability is incurred. Charitable expenditure consists of costs incurred by the charity in the delivery of its activities and services for its beneficiaries.
Central overheads are allocated to charitable activities and fundraising functions on the basis of the use of central support services.
Governance costs include expenditure on the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements.
## **(f) Tangible fixed assets and depreciation**
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Office equipment 25% per annum
Cost of computer equipment is expended in the year which it is incurred.
## **(g) Amortisation of Database costs**
rtised to a nominal value of £1. They remain a unique and indispensable asset without which the charity could not fulfil its primary purpose, and from which the charity derives considerable income to support its charitable activities.
## **(h) Debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **(i) Cash at bank and in hand**
Cash at bank and cash in hand includes cash and short term highly liquid investments.
20
## **Elderly Accommodation Counsel**
## **Notes to the accounts**
## **For the year ended 31[st] December 2021**
## **Accounting Policies (continued)**
## **(j) Creditors and provisions**
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## **(k) Employee benefits**
## _Short term benefits_
Short term benefits including holiday pay are recognised as an expense in the period in which the service is received.
## _Employee termination benefits_
Termination benefits are accounted for on an accrual basis and in line with FRS 102.
## _Pension scheme_
The charity operates a defined contribution pension scheme for the benefit of its employees. The assets of the scheme are held independently from those of the charity in an independently administered fund. The pensions costs charged in the financial statements represent the contributions payable during the year.
## **(l) Operating leases**
Operating lease rentals are charged to the Statement of Financial Activities over the period in which the cost is incurred.
21
## **Elderly Accommodation Counsel**
## **Reference and administrative information**
## **For the year ended 31[st] December 2021**
|**Note 1 - Analysis of total**
**expenditure**
_Cost of generating funds_
Fundraising and publicity
_Charitable activities_
HOOP
Research & Development
National Housing for Older People
Awards
Volunteer Advice Service
Miscellaneous Charity Services
IT Infrastructure
**Subtotal**
**Total expenditure**
**Support Costs**
Fundraising and publicity
HOOP
Research & Development
National Housing for Older People
Awards
Miscellaneous Charity Services
IT Infrastructure|**Staff**
**costs**
**£**
3,722
4,494
45,804
30,755
19,921
65,435|**Overheads**
**Other**
**direct**
**costs**
**Total**
**2021**
**%**
**£**
**£**
**£**
859
-
4,581
2%
1,036
-
5,530
3%
10,565
-
56,369
25%
(2,525)
(2,525)
(1%)
7,094
14,764
52,613
24%
4,595
-
24,516
11%
15,093
-
80,528
36%|**Total**
**2021**
**%**
**£**
5,784
2%
22,797
8%
78,700
28%
10,510
4%
16,121
5%
42,711
15%
106,384
38%|
|---|---|---|---|
||**166,409**|**38,383**
**12,239**
**217,031**
**98%**|**277,223**
**98%**|
|||||
||**170,131**|**39,242**
**12,239**
**221,612**
**100%**|**283,007**
**100%**|
|||**Office-**
**related**
**costs**
**Other**
**costs**
**Total**
**2021**
**£**
**£**
**£**
645
214
859
778
258
1,036
7,930
2,635
10,565
-
-
-
8,773
2,916
11,689
11,328
3,765
15,093
29,454
9,788
39,242|**Total**
**2020**
**£**
783
3,084
10,660
743
7,969
14,410
37,649|
Staff costs include costs of salaried and non-salaried staff allocated directly to each project and activity. Overheads include all office related costs and governance costs.
Other direct costs include all work required to deliver
22
## **Elderly Accommodation Counsel**
## **Reference and administrative information**
## **For the year ended 31[st] December 2021**
## **Note 1 - Analysis of total expenditure (continued)**
|**Note 1 - Analysis of total expenditure**
**(2020)**
_Cost of generating funds_
Fundraising and publicity
_Charitable activities_
HOOP
Research & Development
National Housing for Older People Awards
Volunteer Advice Service
Miscellaneous Charity Services
IT Infrastructure
**Subtotal**
**Total expenditure**
**Support Costs**
Fundraising and publicity
HOOP
Research & Development
National Housing for Older People Awards
Miscellaneous Charity Services
IT Infrastructure|**Staff costs**
**£**
5,001
19,683
68,040
4,742
13,937
36,926
91,974|**Support**
**Costs**
**Other**
**direct**
**costs**
**Total**
**2020**
**%**
**£**
**£**
**£**
783
-
5,784
2%
3,084
30
22,797
8%
10,660
-
78,700
28%
743
5,025
10,510
4%
2,184
-
16,121
5%
5,785
-
42,711
15%
14,410
-
106,384
38%
**36,866**
**5,055**
**277,223**
**98%**
**37,649**
**5,055**
**283,007**
**100%**
**Office-**
**related**
**costs**
**Other**
**costs**
**Total**
**2020**
**£**
**£**
**£**
440
343
783
1,732
1,352
3,084
5,988
4,672
10,660
417
326
743
4,476
3,493
7,969
8,094
6,316
14,410
21,147
16,502
37,649|
|---|---|---|
||**235,302**||
||||
||**240,303**||
||||
Staff costs include costs of salaried and non-salaried staff allocated directly to each project and activity. Overheads include all office related costs and governance costs.
remuneration of £9,500 (2020: £6,500)
23
## **Elderly Accommodation Counsel**
## **Reference and administrative information**
## **For the year ended 31[st] December 2021**
## **Note 2 - Staff Costs**
|**Note 2 - Staff Costs**||
|---|---|
|Regular payroll staff
Gross salary
Social security cost
Pension contributions
Employee redundancy payment
Consultants and occasional staff
Consultants and occasional staff allocated
directly to projects
Total
Average number of employees in the year
Employees earning more than £60,000 in
the year
Total pay for key management personnel|**2021**
**2020**
**£**
**£**
41,945
93,876
858
4,950
36
1,465
7,500
3,375|
||50,339
103,666
119,497
136,637
295
-|
||170,131
240,303|
||2
4
-
-
39,282
71,452|
## **Note 3 - Trustees' Remuneration and Reimbursed Expenses**
|Expenses of £nil were reimbursed to trustees in the year (2020: £nil).
**Note 4 - Intangible Fixed Assets**
Notional value of EAC datasets
**Note 5 - Debtors**
Trade debtors
Prepayments and accrued income
**Note 6 - Creditors: Amounts falling due within one year**
Other creditors
Accruals
Deferred income
Other taxes and social security payable|**2021**
**2020**
**£**
**£**
1
1|
|---|---|
||**2021**
**2020**
**£**
**£**
38,700
22,347
8,611
2,237|
||47,311
24,584|
||**2021**
**2020**
**£**
**£**
19,191
16,933
12,853
540
67,835
64,055
4,964
3,243
104,843
84,771|
24
## **Elderly Accommodation Counsel**
## **Reference and administrative information**
## **For the year ended 31[st] December 2021**
## **Note 7 Restricted funds**
**----- Start of picture text -----**
|||||||
|---|---|---|---|---|---|
|Balance|Balance|
|b'fwd|Income|Expenditure|Transfers|c'fwd|
|£|£|£|£|
|Lottery Grant|-|3,333|(3,333)|-|-|
**----- End of picture text -----**
## _**Purpose of restricted funds**_
1. A £10k 6 month, time-limited Lottery Fund grant to assist with the costs of providing a largely volunteer-run advice service which ran between Sep 20 - Feb 21.
## _**Restricted Funds (2020)**_
**----- Start of picture text -----**
|||||||
|---|---|---|---|---|---|
|Balance|Balance|
|b'fwd|Income|Expenditure|Transfers|c'fwd|
|£|£|£|£|
|Lottery Grant|-|6,667|(16,121)|9,454|-|
**----- End of picture text -----**
## **Note 8 - Operating Lease Commitments**
**----- Start of picture text -----**
||||
|---|---|---|
|Land & Buildings|2021|2020|
|Amounts due:|£|£|
|Within 1 year|8,600|15,917|
|-|
|Later than 1 year not later than 5 years|6,450|
|-|-|
|More than 5 years|
|15,050|15,917|
**----- End of picture text -----**
EAC has a termination clause in its current lease which is subject to 12 months notice by EAC.
## **Note 9 Related Party Transactions**
During the year the Charity provided web & data services to Housing 21, whose Chief Executive, Bruce Moore is a trustee of Elderly Accommodation Counsel. Housing 21 paid a fee to EAC for these services of £10,950 (2020: £10,950).
There were no other related party transactions in either the current or the preceding year.
25
## **Elderly Accommodation Counsel**
## **Reference and administrative information**
## **For the year ended 31[st] December 2021**
## **Status**
Elderly Accommodation Counsel (more usually known as EAC) is:
- A Company Limited by Guarantee no.01955490, registered under The Companies Act 2006
An incorporated charity, no. 292552
It is registered for VAT with HMRC (VAT reg. no. 386 3167 27)
promote the relief of the elderly by the provision of information and advice to those seeking
The Charity is governed by a Board of Trustees, supported by a President and Life President.
A private limited company, Housingcare Services Limited, was registered in 2007, with the objects of carrying on any trade, business or undertaking with a view to raising funds for Elderly Accommodation Counsel. The company has since remained dormant.
A private limited company, Later Life Research Ltd, was registered in 2011 to undertake market research activities. The company has since remained dormant.
## **Honorary positions**
President The Countess of Mar
## **Board of Trustees**
Professor Ann Netten (Chair) Christopher Manthorp (resigned 11 March 21)
Dr Gemma Penn
Bruce Moore
26
## **Elderly Accommodation Counsel**
## **Reference and administrative information**
## **For the year ended 31[st] December 2021**
## **Chief Executive & Secretary**
John Galvin
## **Registered Office**
c/o Haysmacintyre LLP, 10 Queen Street Place, London EC4R 1AG
## **Operational address**
Brigade House, Brigade Street, London SE3 0TW
## **Auditor**
Haysmacintyre LLP, 10 Queen Street Place, London EC4R 1AG
## **Bankers**
Unity Trust Bank, PO Box 7193, Planetary Road, Willenhall WV1 9DG
## **Solicitors**
Levine Mellins Klarfeld, 24-26 Church Road, Stanmore, Middlesex HA7 4AW Bates Wells & Braithwaite London LLP, 10 Queen Street Place, London EC4R 1BE
27