OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-03-31-accounts

AGE UK LEWISHAM AND SOUTHWARK

Report and Financial Statements For the year ended 31 March 2022

Charity No. 296862

Company No. 2118525 (A Company Limited by Guarantee)

Contents Page
Company Details and Advisors 3
Report of the Board of Trustees 4
Independent Auditor's Report 13
Statement of Financial Activities 17
Balance Sheet 18
Cash Flow Statement 19
Notes to the Financial Statements 20

2

Company Details and Advisors

Age UK Lewisham and Southwark exists to improve the lives of older people in the London Boroughs of Lewisham and Southwark, working towards a future in which older people are valued, safe and empowered to make choices about their lives.

Members of the Board of Trustees , who are Directors for the purpose of Company Law, and Trusteesfor the purpose of Charity Law, and who served during the year, were:

John Veness (Chair) John Hodgett (Vice Chair and Company Secretary) Leon Kreitzman Miny Jansen Marcia Purnell Irene Payne Ray Boyce Connor Lambourne Dr Nicky Ryan Caroline Tregaro (resigned May 2021)

Chief Executive: Ross Diamond

Company Secretary: John Hodgett

Age UK Lewisham and Southwark is a registered Charity (Charity No. 296862) and a Company Limited by Guarantee (Company No. 2118525)

The Registered Office is 11 Scovell Road, London SE1 1QQ

Auditors : Goldwins Limited, 75 Maygrove Road, West Hampstead, London NW6 2EG

Bankers : National Westminster Bank plc, 10 Southwark Street, London SE1 ITJ

Age UK Lewisham and Southwark is a Brand Partner of Age UK England : 7th Floor, One America Square, 17 Crosswall, London, EC3N 2LB

3

Annual Report of the Board of Trustees for the year ended 31st March 2022

The Trustees, who are also directors of the Charitable Company, have pleasure in presenting their Annual Report and financial statements for the year ended 31st March 2022. The Trustees confirm that the financial statements comply with current statutory requirements, the Memorandum and Articles of Association, and with the Statement of Recommended Practice - Accounting and Reporting by Charities, which is applicable to charities preparing their accounts in accordance with FRS 102.

Age UK Lewisham and Southwark exists to improve the lives of older people in the London Boroughs of Lewisham and Southwark, working towards a future in which older people are valued, safe and empowered to make choices about their lives.

Our Mission

Age UK Lewisham and Southwark aims to empower and enable older people to lead fulfilled lives by:

Our work is shaped by our values:

We seek to be a dynamic, credible, trusted and sustainable organisation. All of our services are designed to support and empower older people.

The charity's legal objects are : to promote the following purposes for the benefit of the public and/or older people in and around Lewisham and Southwark: -

Ensuring our work delivers our purposes and aims

The charity continues to develop effective ways of serving older people, including preventive activities and services to support healthy ageing. It supports the local voluntary sector, and engages

4

in joint planning for, and influencing of, local services with both statutory and voluntary organisations. In reviewing our alms and objectives, and in planning our future activities, the Trustees refer to theCharity Commission's general guidance on public benefit. In particular, the Trustees consider how planned activities can contribute to our aims and objectives.

To ensure that our services can benefit those older people with the greatest need, we accept referrals from a variety of sources. We also take every available opportunity to publicise our programmes and to provide holistic support for older people through collaboration with other organisations.

5

ACHIEVEMENTS 2021-22

During the year we supported over 6,500 individuals across both boroughs in a wide range of ways. The key achievements of our projects were:

1. Healthy Living and Learning Service

The Healthy Living and Learning Service is based at our Day Centre in Bermondsey. It is an open access centre for older people and provides a wide range of services and social activities both in and out of the centre premises.

2. Community Connections Lewisham

Community Connections Lewisham is a preventative social prescribing project, aiming to improve the health and wellbeing of vulnerable adults across the borough.

3. Handyperson

The Handyperson team helps with a wide range of small jobs to help vulnerable older people and their carers live safely and independently at home.

4. Happy Feet

Happy Feet is our toenail cutting service which is delivered at a range of clinics across both boroughs.

5. Stones End Day Centre

Stones End Day Centre is a specialist day centre working with older adults who have care and support needs.

6

6. Information and Advice

We provide accredited information and advice to older people in both boroughs.

7. Ageing Well Southwark

Our Ageing Well Southwark contract (with Southwark Council) enables us to deliver a range of support and advice to older people, including working in partnership with Council staff and our COPSINS partners

8. Food2You

Food2You is a shopping and delivery service for older people who are experiencing or who are at risk of malnutrition and who cannot easily get to the shops to shop for themselves. We closed our Southwark service in June 2021, but continued to support Lewisham residents throughout the year.

9. Independent Care Home Visiting Service

In July 2021, Southwark Council commissioned Age UK Lewisham and Southwark to provide an Independent Care Home Visiting Service to develop “a service that provides friendship and support visiting for residents in their homes ... volunteers visit regularly and build up relationships that are meaningful… to check that

7

the residents they are seeing are happy, comfortable and safe in their homes and experiencing good quality care, very much like they would if visiting a family member.”

10. Connected at Christmas Grant to Age UK Lewisham and Southwark

We received a grant of £1,000 from local charity United St Saviours which we used to provide:

Recipients of these Goody bags included residents from local sheltered housing units, extra care facilities, clients from Stones End Day Centre, Yalding Healthy Living and Learning Centre, Happy Feet and Handyperson service

11. Winter Warm and Well Project December 2021-March 2022

AUKLS produced and delivered 1000 Winter Warmer Goody Bags to COPSINS partners as a resource to use at their winter events. Bags consisted of useful items such as thermometer card, non-slip-slipper-socks as well as information on the Household Support Grant, and other support available from Ageing Well Southwark

12. Winter Fuel Supplement Grant Project

We were designated as a “Tier 1 Referral Agency” for the Southwark Household Support Grant over Winter 2021/22 which meant that we could refer older people to a discretionary element if this fund.

13. Support for other organisations from our premises

During the year we were pleased to host a number of groups to use our spaces in the evenings and weekends. These included the Futuro Latino Americano group for people over 50 years of age with a Latin American background who speak Spanish or Portuguese and Opening Doors, a charity for lesbian, gay, bisexual, trans, queer, non-binary or gender fluid (LGBTQ+) people over 50.

8

Structure. Governance and Management

Age UK Lewisham and Southwark (AUKLS) is an independent Registered Charity and a Company Limited by Guarantee, responsible for its own policy, direction, and funding. AUKLS is a Charity formed from a merger of Age Concern Southwark and Age Concern Lewisham in 2006.

The Board of Trustees of the Charity governs its affairs. Trustees are also Directors of the Company. The Trustees have a broad range of skills, experience, and backgrounds. The Articles of Association allow for Organisational Members as well as individual Trustees, and as at 31 March 2022 there were 9 individual Trustees and 14 Organisational Members.

The Board takes overall responsibility for ensuring that the financial, legal and contractual responsibilities of the charity are met, and that there are satisfactory systems of controls and of risk management. It decides on policy and strategy, and ensures that the organisation fulfils Its objectives. The Board meets at least quarterly. There are also Finance and Operational subcommittees of the Board that meet quarterly.

The day-to-day management of the charity is delegated to the Chief Executive Officer, who works with a team of managers to fulfil the charity's objectives. The Chief Executive Officer reports to the Chair and Board.

AUKLS is a Brand Partner of Age UK England, which allows AUKLS to ensure that the issues and concerns of older adults in Lewisham and Southwark are brought to the attention of policy makers, at national, regional and local levels.

We are proud holders of the Age UK Organisational Quality Standard which certifies that we are a well-governed and effective organisation committed to the wellbeing of older people, our staff, volunteers and partners.

Our Information and Advice Service holds the Age UK Information and Advice Quality Mark. This is a quality assurance for organisations which provide to the public advice on social welfare issues. It recognises the high standard of advice we provide for older people locally.

We continue to be accredited for the NHS Data Security & Protection Toolkit Standard in relation to our information governance.

AUKLS remains an independent local charity, run by local people, for local people. It continues to provide high-quality services at local level, supporting older adults to maintain their independence, dignity and well-being. It is also a member of The Age England Association, and Age UK London.

Risk Management

Trustees regularly assess and review the most important strategic and operational risks to the charity, and ensure that systems and procedures are in place to monitor and mitigate these. A risk register is maintained outlining the likelihood of any potentially damaging outcome, the potential impact of such an outcome, and detailing who is responsible within the organisation for monitoring the risks and for taking relevant steps to mitigate these. These steps include ways of reducing both likelihood and impact.

The key risks and mitigations identified for the year were: -

We manage this by undertaking risk assessments for all staff, premises and

9

services/activities. We encourage all staff, volunteers and service users to take up the vaccinations and keep a close eye on emerging strains of Covid19. We provide and use appropriate PPE and social distancing measures. We have enabled staff to work effectively from home where possible (via cloud-based IT etc). We have introduced a process (by agreement with staff) for all staff to take Covid test and share their results at least twice a week (for full time staff) and made relevant changes to our sickness policies.

We manage this through a close relationship with funders, ensuring that our objectives are closely aligned with theirs, and communicating the impact of our work effectively. We also research alternative funding plans. We budget for income prudently and include cost reduction in our plans where possible.

We have recruited an external Data Protection Officer; reviewed and implemented our Data Protection Policy reviewed and implemented; included data protection in all operational risk registers; and developed an updated Business Continuity Plan.

Pay Policy for Senior Staff

Key Management Personnel are considered to be the Trustees and the Chief Executive. The pay of senior staff is reviewed annually by the Trustees, and is benchmarked against pay levels in similar charities. All Trustees give their time freely, and none have received any remuneration or expenses during the year.

Responsibilities of the Board of Trustees

Company law requires the Board of 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 as at the balance sheet date, and of its incoming resources, and application of resources, including income and expenditure. In preparing these financial statements, the Trustees should follow best practice, and:

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 to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Account and

10

Reports) Regulations 2008. 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.

Financial Review

Our work is funded by a mixture of income earned from services delivered, grants from local authorities, other statutory bodies, charitable trusts and foundations, and donations from individuals and corporate bodies. The main funding sources for year were income from our Day Care services and grants from Southwark and Lewisham Councils.

During the year we received no income from retail activities.

During the year we successfully applied for a new 3-year grant for our Community Connections Lewisham service from Lewisham Council, with the grant starting from 1[st] April 2022. We were also successful in securing 3-years funding from the Henry Smith Charity for our MySocial and Positive Minds work in Southwark from 1[st] January 2022.

We also secured several smaller grants from a range of funders, thereby helping to diversify our funding base.

Reserves Policy

As at 31 March 2022, total reserves were £883,236, of which none were restricted.

The reserves policy aims to ensure we can:

The Trustees consider that 3 to 4 months' future expenditure is the target range for these purposes. This gives a target range for free reserves of between £622,500 and £830,000. The actual amount of £883,236 was slightly above this range as at 31 March 2022. The impact of COVID19 and the challenging financial environment which is predicted, are both likely to be felt during the next financial year, demonstrating the importance of having healthy reserves.

Going Concern

The Trustees believe that that there are no material uncertainties that call into doubt the charity's ability to continue Its activities. The accounts have therefore been prepared on the basis that the charity is a going concern.

11

Investment Policy

The Investment Policy seeks to strike a balance between holding sufficient cash levels to meet working capital requirements, and investing that part of the reserves held for longer periods in assets that are likely to keep pace with rising costs.

The policy is to hold the majority of funds in liquid assets to deal with short-term requirements and guard against volatility, and a smaller portion in assets likely to achieve some capital growth.

Cash is invested in a variety of UK banks that are covered by Financial Services Compensation Scheme [FSCS]. A balance is struck between instant access, notice accounts and fixed term deposits, dependent on cash flow requirements.

Non-cash investments are in collective schemes to achieve the required diversity

Disclosure of information to Auditors

So far as the Trustees are aware, there is no relevant audit information of which the company's auditors are unaware, and the Trustees have taken all the steps that they ought to have taken in order to make themselves aware of any relevant audit information and to establish that the charity's auditors are aware of that information.

Auditors

Goldwins Limited have indicated their willingness to continue in office, and in accordance with the provisions of the Companies Act 2006 a resolution will be proposed at the Annual General Meeting that they be appointed as auditors to the company for the ensuing year.

Approved by the Board on 24[th] November 2022 and signed on its behalf:

24/11/22 …………………………………………………………….. ………………………….. John Veness Date Chair

Charity No. 296862 Company No. 2118525

12

Independent Auditor’s Report

To the members of

Age UK Lewisham and Southwark

Opinion

We have audited the financial statements of Age UK Lewisham and Southwark for the year ended 31 March 2022 which comprise the Statement of Financial Activities, the Balance Sheet, statement of cash flows and the related notes. 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).

Opinion on financial statements

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 Auditorʼs responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRCʼs 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 charity'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 directors 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 information included in the annual report other than the financial statements and our auditorʼs report thereon. 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.

13

Independent Auditor’s Report

To the members of

Age UK Lewisham and Southwark

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.

Opinion on other matter 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 the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report.

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

Responsibilities of the 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 they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

14

Independent Auditor’s Report

To the members of

Age UK Lewisham and Southwark

In preparing the financial statements, the trustees are responsible for assessing the Charityʼs 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 Charity or to cease operations, or have no realistic alternative but to do so.

Our 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 auditorʼs 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 are set out below.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

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. 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 located on the Financial Reporting Councilʼs website at: [www.frc.org.uk/auditorsresponsibilities]. This description forms part of our auditor’s report.

15

Independent Auditor’s Report

To the members of

Age UK Lewisham and Southwark

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 charity’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 charity and the charity’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Anthony Epton (Senior Statutory Auditor) for and on behalf of Goldwins Limited Statutory Auditor Chartered Accountants 75 Maygrove Road West Hampstead London NW6 2EG

Goldwins Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

16

Age UK Lewisham and Southwark Statement of Financial Activities (Incorporating an Income and Expenditure Account) For the year ended 31 March 2022

Notes
Income from:
Donations and Grants
Independent Living Services
Healthy Communities and Day Care
Lewisham Connections
General
Total Donations and Grants
3
Charitable activities:
Healthy Communities and Day Care
General
Total Charitable Activities
4
Investment Income
5
Total Income
Expenditure on:
Raising Funds
Charitable activities
Independent Living Services
Healthy Communities and Day Care
Lewisham Connections
Total expenditure
7
Net income / (expenditure) before net gains (losses) on
investments
Net gains / (losses) on investments
Net Movement in Funds in the year
Reconciliation of funds
Funds brought forward at 1 April 2021
Funds carried forward at 31 March 2022
19		 funds
£
43,120
43,120
43,120
-
129,360
429,859
19,209
449,068
5,416
583,844
55,614
377,710
53,157
118,423
604,904
(21,060)
(293)
(21,353)
904,589
883,236
Unrestricted		 funds
£
627,049
627,049
631,191
-
1,885,289
-
-
-
-
1,885,289
-
627,049
627,049
631,191
1,885,289
-
-
-
-
-
Restricted		 2022
Total
funds
£
670,169
670,169
674,311
-
2,014,649
429,859
19,209
449,068
5,416
2,469,133
55,614
1,004,759
680,206
749,614
2,490,193
(21,060)
(293)
(21,353)
904,589
883,236		 2021
Total
funds
£
861,136
590,836
791,160
151,209
2,394,341
218,092
80,903
298,995
7,887
2,701,223
42,323
1,103,798
622,853
823,681
2,592,655
108,568
25,961
134,529
770,060
904,589

All of the above results are derived from continuing activities.

There were no other recognised gains or losses other than those stated above. The attached notes form part of these financial statements.

17

Age UK Lewisham and Southwark Balance Sheet As at 31 March 2022

----- Start of picture text -----
Notes 2022 2021
£ £ £
FIXED ASSETS
Tangible assets 11 43,598 46,202
Intangible Fixed Assets 12 - -
Investments 13 321,107 319,744
364,705 365,946
CURRENT ASSETS
Debtors 14 439,323 667,783
Cash at bank and in hand 425,454 223,262
864,777 891,045
CURRENT LIABILITIES
Creditors – amounts falling due
within one year 15 (346,246) (352,402)
NET CURRENT ASSETS 518,531 538,643
NET ASSETS 883,236 904,589
FUNDS
Restricted funds - -
Unrestricted funds
- -
Designated Funds
General Funds 19 883,236 904,589
Total Unrestricted Funds 883,236 904,589
TOTAL FUNDS 18 883,236 904,589
----- End of picture text -----

The financial statements have been prepared in accordance with the special provisions for small companies under Part15 of the Companies Act 2006.

24/11/22

Approved by the Board and authorised for issue on….....................

………………………………………

Trustee

Chair: John Veness

Company registration Number: 2118525

The attached notes form part of the financial statements.

18

Age UK Lewisham and Southwark Statement of Cash Flows For the year ended 31 March 2022

Note
20
Cash flows from investing activities:
Interest/ rent/ dividends from investments
Sale / (purchase) of fixed assets
Sale /(purchase) of investments
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
21
Net cash provided by operating activities		 2022
£
5,416
(8,735)
(1,656)		 2022
£
207,167
(4,975)
202,192
223,262
425,454		 2021
£
7,887
(33,007)
148,471		 2021
£
(130,766)
123,351
(7,415)
230,677
223,262

19

Age UK Lewisham and Southwark Notes to the Financial Statements For the year ended 31 March 2022

1 Accounting policies

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 - effective 1 January 2015) - (Charities SORP FRS 102) and the Companies Act 2006.

The charitable company meets the definition of a public benefit entity under FRS 102. Assets and liabilities are recognised at historical cost or transaction value.

b) Going concern

The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

c) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Income received in advance for the performance of a specified service is deferred until the criteria for income recognition are met.

d) Donations of gifts, services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution.

On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

e) Interest receivable

f) Fund accounting

g) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Costs of raising funds comprise shop costs and the costs incurred in raising voluntary contributions, as well as the cost of any activities with a fundraising purpose. Expenditure on charitable activities includes the costs of delivering services and small grants undertaken to further the purposes of the charity and their associated support and governance costs. Charitable activities are analysed into the three main activity areas undertaken by the charity.

VAT is charged as a cost against the activity for which the expenditure was incurred as Age Uk Lewisham and Southwark is not VAT registered.

20

Age UK Lewisham and Southwark Notes to the Financial Statements For the year ended 31 March 2022

1 Accounting policies (continued)

h) Allocation of support and governance costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the services for older people. These costs have been allocated between cost of raising funds and expenditure on charitable activities. Governance costs are those involving the public accountability of the charity (including audit costs.) Support and governance costs have been allocated according to staff numbers and resource plans.

i) Operating leases

Rental charges are charged on a straight line basis over the term of the lease.

j) Tangible fixed assets

Items of equipment are capitalised where the purchase price exceeds £500. Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

Leasehold improvements Over 10 yrs or the life of the lease if less than 10 yrs Motor vehicles 25% straight line Fixtures and fittings 33.3% straight line Computer and office equipment 33.3% straight line Intangible Assets 33.3% straight line

k) 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.

l) Cash at bank and in hand

Cash at bank and cash 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.

m) 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.

n) Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

o) Pensions

The charity operates a defined contribution pension scheme operated by NEST. Contributions are to the Statement of Financial Activities when they are payable to the scheme.

21

2 Detailed comparatives for the statement of financial activities

Age UK Lewisham and Southwark Notes to the Financial Statements For the year ended 31 March 2022

Income from:
Donations and Grants
Independent Living Services
Healthy Communities and Day Care
Lewisham Connections
General
Total Donations and Grants
Charitable activities:
Healthy Communities and Day Care
Community Connections
General
Total Charitable Activities
Investment Income
Total Income
Raising funds
Charitable activities:
Independent Living Services
Healthy Communities and Day Care
Lewisham Connections
Total expenditure
Net gains / (losses) on investments
Net movement in funds
Total funds brought forward
Total funds carried forward
Net income / (expenditure) before net gains (losses) on
investments		 2021
Unrestricted
£
40,180
86,180
40,680
67,598
234,638
218,092
-
80,903
298,995
7,887
541,520
42,323
199,231
118,197
73,201
432,952
108,568
25,961
134,529
770,060
904,589		 2021
£
820,956
504,656
750,480
83,611
2,159,703
-
-
-
-
-
2,159,703
-
904,567
504,656
750,480
2,159,703
-
-
-
-
-
Restricted		 2021
Total
£
861,136
590,836
791,160
151,209
2,394,341
218,092
-
80,903
298,995
7,887
2,701,223
42,323
1,103,798
622,853
823,681
2,592,655
108,568
25,961
134,529
770,060
904,589

22

Age UK Lewisham and Southwark Notes to the Financial Statements For the year ended 31 March 2022

3
Income from donations and grants
Donations
Age UK
London Borough of Southwark
London Borough of Southwark - Ageing Well Southwark
London Borough of Lewisham-Community Connections
London Borough of Southwark - Weathering Well
Lewisham Public Health - Track & Trace
United St Saviour
Mercers - Positive Mind
Henry Smith- Positive Mind
Warm and Well Winter
One Health Lewisham grant
London Borough of Lewisham - Information and Advice
London Borough of Lewisham - Safe and Independent Living
South Southwark GP Federation Safe and Independent Living
Quay Health Solutions Safe and Independent Living
Generation Foundation
Tudor Trust
John Ellerman
CJRS and other grants
Pool re.
Lewisham Food to You
London Borough of Southwark Common Purpose – OPCRG
London Borough of Southwark - Lay Inspector
Rehab Project
SAIL
Veolia
NHS Winter Pressures
Team London Bridge Grant
Southwark Council - Infection Control Fund
Other
Postcode Local Trust
4
Charitable Activities
Day Care services
Happy Feet services
Property letting
Catering and centre activities Income
Other income
5
Investment income
Bank interest and investment income		 £
84,454
12,500
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
32,406
-
-
-
-
-
-
-
-
-
-
-
-
129,360
305,067
7,092
11,587
117,700
7,622
~~449,068~~
5,416
5,416
Unrestricted		 £
-
11,986
-
1,088,806
338,458
35,292
41,437
26,000
-
15,000
50,000
37,309
74,000
45,000
-
16,993
-
-
-
-
8,112
36,000
-
10,000
-
-
-
26,746
1,250
5,000
17,900
-
1,885,289
-
-
-
-
-
~~-~~
-
-
Restricted		 2022
Total
£
84,454
24,486
-
1,088,806
338,458
35,292
41,437
26,000
-
15,000
50,000
37,309
74,000
45,000
-
16,993
-
-
-
32,406
8,112
36,000
-
10,000
-
-
-
26,746
1,250
5,000
17,900
-
2,014,649
305,067
7,092
11,587
117,700
7,622
~~449,068~~
5,416
5,416		 £
19,226
36,373
12,000
-
-
-
-
-
-
-
-
-
500
-
-
-
30,000
-
-
120,539
16,000
-
-
-
-
-
-
-
-
-
-
-
234,638
78,742
1,400
5,400
137,950
75,503
~~298,995~~
7,887
7,887
Unrestricted		 £
-
63,268
-
892,338
566,570
59,382
-
23,838
34,649
-
-
-
74,000
92,012
68,484
33,985
-
40,903
40,758
4,800
-
17,898
11,238
10,000
26,425
53,195
-
30,417
-
-
-
15,543
2,159,703
-
-
-
-
-
-
-
-

Restricted		 2021
Total
£
19,226
99,641
12,000
892,338
566,570
59,382
-
23,838
34,649
-
-
-
74,500
92,012
68,484
33,985
30,000
40,903
40,758
125,339
16,000
17,898
11,238
10,000
26,425
53,195
-
30,417
-
-
-
15,543
2,394,341
78,742
1,400
5,400
137,950
75,503
298,995
7,887
7,887

23

Age UK Lewisham and Southwark Notes to the Financial Statements For the year ended 31 March 2022

7 Analysis of expenditure

Charitable activities

Staff
Training, travel & recruitment
Meetings, activity and events
Audit Fees
Consultancy, legal & professional
Depreciation
Premises
Administration & finance
Miscellaneous
Support costs
Governance costs
Total expenditure 2022
Total expenditure 2021		 £
12,087
5,611
-
-
-
-
-
37,916
-
-
-
-
55,614
Cost of Raising
Funds		 Independent
Living
Services
£
352,765
1,145
545,203
-
2,523
2,628
16,243
433
-
81,882
1,938
1,004,759		 Healthy
Communities
and Day Care
457,554
1,879
74,866
-
4,141
4,314
26,662
711
-
106,205
3,875
680,206		 Lewisham
Connections
£
539,476
1,356
55,761
-
2,989
3,114
19,247
513
-
125,220
1,938
749,614		 Governance
Costs
£
-
-
-
7,750
-
-
-
-
-
-
(7,750)
-		 Support
Costs
151,320
-
-
-
34,223
1,283
58,437
44,684
23,359
(313,306)
-
-		 £
£
1,513,202
1,525,740
9,991
3,558
675,830
773,173
7,750
6,500
43,875
59,954
11,339
51,018
120,589
95,706
84,258
39,869
23,359
37,137
-
-
-
-
2,490,193
2,592,655
2022 Total
2021 Total
42,323 1,103,798 622,853 823,681 - - -
2,592,655

7a Analysis of expenditure (prior year)

Analysis of expenditure (prior year)
Staff
Training, travel & recruitment
Meetings, activity and events
Audit Fees
Consultancy, legal & professional
Depreciation
Premises
Administration & finance
Miscellaneous
Support costs
Governance costs
Total expenditure 2021
Total expenditure 2020		 £
12,187
1,998
-
-
-
-
-
28,138
-
-
-
42,323
Cost of Raising
Funds		 Charitable activities Support
Costs
152,574
-
-
-
58,704
5,773
46,379
-
37,137
(300,567)
-
-		 £
£
1,525,740
1,482,312
3,558
39,992
773,173
318,710
6,500
6,500
59,954
62,373
51,018
41,309
95,706
122,407
39,869
61,405
37,137
-
-
-
-
2,592,655
2,135,008
2021 Total
2020 Total
Independent
Living
Services
£
435,144
499
564,568
-
400
14,466
13,373
3,751
-
70,098
1,500
1,103,798		 Healthy
Communities
and Day Care
408,762
468
82,798
-
375
13,589
20,062
3,523
-
90,274
3,000
622,853		 Lewisham
Connections
£
517,073
593
125,807
-
475
17,190
15,891
4,457
-
140,195
2,000
823,681		 Governance
Costs
£
-
-
-
6,500
-
-
-
-
-
-
(6,500)
-
77,638 610,452 885,973 560,945 - - -
2,135,008
8
Net incoming/ (outgoing) resources for the year
This is stated after charging:
Depreciation
Operating Lease Rentals
Property
Other Equipment
Auditors' Remuneration
9
Staff costs
Salaries
Employer National Insurance Costs
Employer's contribution to defined contribution pension schemes
The average number of employees was:
Raising Funds
Charitable Activities
Support
Governance		 2022
£
11,339
27,380
9,887
6,975
2022
£
1,372,863
112,084
28,255		 2021
£
47,347
33,252
9,560
6,458
2021
£
1,383,809
113,335
28,596
1,513,202 1,525,740
2022
No.
1
98
6
1		 2021
No.
1
68
6
1
106 76

No employee received emoluments amounting over £60,000 during the current year (2021: nil).

The charity trustees were not paid or received any other benefits from employment with the charity in the year (2021: £nil) neither were they reimbursed expenses during the year (2021: £nil). No charity trustee received payment for professional or other services supplied to the charity (2021: £nil).

The total employee benefits including pension contributions and employer`s national insurance of the key management personnel were £30,704 (2021: £66,105 ).

24

Age UK Lewisham and Southwark Notes to the Financial Statements For the year ended 31 March 2022

10 Taxation

Age UK Lewisham and Southwark is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

Tangible fixed assets
Cost
At the start of the year Apr 2021
Additions in year
At the end of the year Mar 2022
Depreciation
At the start of the year Apr 2021
Charge for the year
At the end of the year Mar 2022
Net Book Value
At the end of the year Mar 2022
At the start of the year Apr 2021
Intangible fixed assets		 Motor
Vehicles
£
£
£
113,954
121,248
99,739
-
-
8,735
113,954
121,248
108,474
113,954
115,818
74,831
-
3,047
3,862
113,954
118,865
78,693
-
2,383
29,781
-
5,430
24,908
Cost
At the start of the year Apr 2021
Additions in year
At the end of the year Mar 2022
Depreciation
At the start of the year Apr 2021
Charge for the year
At the end of the year Mar 2022
Net Book Value
At the end of the year Mar 2022
At the start of the year Apr 2021
Leasehold
Buildings
Computer
& Office
Equipment		 Fixture
£
95,007
-
95,007
79,143
4,430
83,573
11,434
15,864
£
11,010
-
11,010
11,010
-
11,010
-
-
Fittings &		 Total
£
429,948
8,735
438,683
383,746
11,339
395,085
43,598
46,202

11 Tangible fixed assets

12 Intangible fixed assets

13 Investments

Investments at fair value:
Cash Fixed Term Deposits
Investment Funds
Movements
Additions at cost
Transfers
Net gain / (loss) on revaluation
14 Debtors
Trade debtors
Prepayments
Accrued income
Other debtors
15 Creditors
Trade creditors
Other creditors
Taxation and social security
Accruals
Deferred Income		 2022
£
181,655
139,452
321,107
1,656
-
(293)
1,363
2022
£
420,104
13,904
5,105
210
439,323
2022
£
97,654
1,506
40,719
125,260
81,107
346,246		 2021
£
180,550
139,194
319,744
1,529
(150,000)
25,961
(122,510)
2021
£
519,916
33,690
113,711
466
667,783
2021
£
83,169
45,768
28,939
100,277
94,249
352,402

25

Age UK Lewisham and Southwark Notes to the Financial Statements For the year ended 31 March 2022

16
Deferred income
Balance at the beginning of the year
Amount released to income in the year
Amount deferred in the year
Balance at the end of the year		 2022
£
94,249
(94,249)
81,107
81,107		 2021
£
136,182
(136,182)
94,249
94,249

Deferred income comprises grants received from funders in the year which is required to be spent in the following financial year.

17
Operating lease commitments
Total future minimum lease payments under non-cancellable operating leases are
2022
Land and
Buildings
£
1 year
20,000
2 - 5 years
-
> 5 years
-
20,000
18
Analysis of net assets between funds
Fixed Assets
Investments
Current Assets
Current Liabilities
Net assets at the end of the year
18a Analysis of net assets between funds (prior year)
Fixed Assets
Investments
Current Assets
Current Liabilities
Net assets at the end of the year
19
Movements in funds
At 1 April
Incoming
2021
Resources
£
£
Unrestricted funds
General Funds
904,589
583,844
Total Unrestricted funds
904,589
583,844
Restricted funds:
Safe & Independent Living
-
627,049
Healthy Communities and Day Care
-
627,049
Lewisham Connections
-
631,191
General
-
-
Total restricted funds
-
1,885,289
Total Funds
904,589
2,469,133
19a Movements in funds (Prior year)
At 1 April
Incoming
2020
Resources
£
£
Unrestricted funds
General Funds
770,060
567,482
Total Unrestricted funds
770,060
567,482
Restricted funds:
Safe & Independent Living
-
820,956
Healthy Communities and Day Care
-
504,656
Lewisham Connections
-
750,480
General
-
83,611
Total restricted funds
-
2,159,703
Total Funds
770,060
2,727,185		 17
Operating lease commitments
Total future minimum lease payments under non-cancellable operating leases are
2022
Land and
Buildings
£
1 year
20,000
2 - 5 years
-
> 5 years
-
20,000
18
Analysis of net assets between funds
Fixed Assets
Investments
Current Assets
Current Liabilities
Net assets at the end of the year
18a Analysis of net assets between funds (prior year)
Fixed Assets
Investments
Current Assets
Current Liabilities
Net assets at the end of the year
19
Movements in funds
At 1 April
Incoming
2021
Resources
£
£
Unrestricted funds
General Funds
904,589
583,844
Total Unrestricted funds
904,589
583,844
Restricted funds:
Safe & Independent Living
-
627,049
Healthy Communities and Day Care
-
627,049
Lewisham Connections
-
631,191
General
-
-
Total restricted funds
-
1,885,289
Total Funds
904,589
2,469,133
19a Movements in funds (Prior year)
At 1 April
Incoming
2020
Resources
£
£
Unrestricted funds
General Funds
770,060
567,482
Total Unrestricted funds
770,060
567,482
Restricted funds:
Safe & Independent Living
-
820,956
Healthy Communities and Day Care
-
504,656
Lewisham Connections
-
750,480
General
-
83,611
Total restricted funds
-
2,159,703
Total Funds
770,060
2,727,185		 as follows:-
Other
£
1,648
-
-
1,648
Fund
£
43,598
321,107
864,777
(346,246)
883,236
Fund
£
46,202
319,744
891,045
(352,402)
904,589
Outgoing
Resources &
losses
£
(605,197)
(605,197)
(627,049)
(627,049)
(631,191)
-
(1,885,289)
(2,490,486)
Outgoing
Resources &
£
(432,952)
Unrestricted
Unrestricted		 2021
Land and
Buildings
£
20,000
-
-
20,000
Restricted
Funds
£
-
-
-
-
-
Restricted
Funds
£
-
-
-
-
-
Transfer
£
-
-
-
-
-
-
-
Transfer
£
-		 Other
£
1,648
-
-
1,648
Total
Funds
£
43,598
321,107
864,777
(346,246)
883,236
Total
Funds
£
46,202
319,744
891,045
(352,402)
904,589
At 31 March
2022
£
883,236
883,236
-
-
-
-
883,236
At 31 March
2021
£
904,589
567,482
820,956
504,656
750,480
83,611
2,159,703
2,727,185		 (432,952)
(904,567)
(504,656)
(750,480)
-
(2,159,703)
(2,592,655)		 -
-
-
-
-
-
-		 904,589
-
-
-
-
-
904,589

London Borough of Southwark: Ageing Well Southwark: a social prescribing and direct service delivery contract (delivered in partnership with COPSINS) for people aged 60+

London Borough of Lewisham: Community Connections: a social prescribing service for older people.

London Borough of Lewisham Safe and Independent living 18+: Community Connections: an expansion of the Community Connections service to include adults aged 18+

London Borough of Lewisham – Track and Trace: Community Connections: an additional resource to help the Community Connections team support vulnerable older people during Covid19

London Borough of Southwark – Warm and Well Winter: a GP Navigation service (social prescribing linked to GP practices) for older people London Borough of Lewisham – Information and Advice Service: an accredited Information and Advice service for older people (funded via Citizens Advice Lewisham’s Advice Partnership)

26

Age UK Lewisham and Southwark Notes to the Financial Statements For the year ended 31 March 2022

20

Reconciliation of net income / (expenditure) to net cash flow from operating activities

Reconciliation of net income / (expenditure) to net cash flow from operating activities
Net income / (expenditure) for the reporting period
(as per the statement of financial activities)
Depreciation
Interest, rent and dividends from investments
(Gains) / losses on investments
(Increase)/ decrease in debtors
Increase/ (decrease) in creditors
Net cash provided by / (used in) operating activities		 2022
£
(21,353)
11,339
(5,416)
293
228,460
(6,156)
207,167		 2021
£
134,529
51,017
(7,887)
(25,961)
(274,181)
(8,283)
(130,766)

21 Analysis of cash and cash equivalents

Analysis of cash and cash equivalents
Cash at bank and in hand
Total cash and cash equivalents		 £
223,262
223,262
At 1 April
2021		 Cash flows
£
202,192
202,192		 £
425,454
At 31 March 2022
425,454

22 Legal status of the charity

The charity is a company limited by guarantee and has no share capital. Each member is liable to contribute a sum not exceeding £1 in the event of the charity being wound up.

23 Related party transactions

There are no related party transactions to disclose for 2022 (2021: none).

There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.

27

With many thanks to our wonderful funders:

Age UK Emanuel Hospital Generation Foundation Henry Smith Lewisham CCG London Borough of Lewisham London Borough of Southwark One Health Lewisham Pool Re Quay Health Solutions Southwark Charities Southwark GP Federation Southwark Unite Team London Bridge United St Saviours