OPEN AGE

Charity number: 1039520
Removed charity

Charity overview

Activities - how the charity spends its money

Open Age is a user led charity enabling older people to sustain their physical and mental well-being by providing over 350 low cost weekly physical,creative & mentally stimulating,learning & health related activities in community venues. An employment programme supports unemployed people back to work and training.

Income and expenditure

Data for financial year ending 31 March 2015

Total income:
£1,524,319

Text alternative for this canvas graphic is in the data table below.
Donations and legacies £240.52k
Charitable activities £1.28m
Other trading activities £0
Investments £692
Other £0

Total expenditure:
£1,617,248

Text alternative for this canvas graphic is in the data table below.
Raising funds £0
Charitable activities £1.58m
Other £0

£0 investments gains (losses)

Total income includes £377,982 from government contract(s) and £765,729 from government grant(s)

Charitable expenditure

Charitable expenditure

Some charities generate all, or a substantial part, of their income from investments which may have been donated to the charity as endowment or set aside by the charity from its own resources in the past. Such investments usually take the form of stocks and shares but may include other assets, such as property, that are capable of generating income and/or capital growth.

In managing their spending and investments charities need to strike a balance between the needs of future and current beneficiaries. They also need to take account of spending commitments that may stretch over a number of future years. To do this, charities will normally adopt an investment strategy designed to generate both income and capital growth. To maximise returns trustees may commit to investment strategies for several years.

Investments can experience large swings in value so trustees may, in a particular year, decide to realise and spend part of their charity’s capital or to invest part of its income.

By clicking the investment gains checkbox the charitable spending bar is adjusted to take account of capital growth as well as income. This shows the balance the charity is striking, between spending on current beneficiaries and retaining resources for future beneficiaries.

Text alternative for this canvas graphic is in the data table below.
Raising funds and other expenditure £32.53k
Charitable expenditure £1.58m

Fundraising

This charity raises funds from the public but does not work with commercial participators.

Trading

This charity does not have any trading subsidiaries.

Trustee payments

No trustees receive any remuneration, payments or benefits from the charity.

What, who, how, where

What the charity does:
  • Education/training
  • The Advancement Of Health Or Saving Of Lives
  • Arts/culture/heritage/science
  • Amateur Sport
  • Economic/community Development/employment
  • Recreation
Who the charity helps:
  • Elderly/old People
How the charity helps:
  • Provides Human Resources
  • Provides Buildings/facilities/open Space
  • Provides Services
  • Provides Advocacy/advice/information
Where the charity operates:
  • Throughout London

Governance

Registration history:
  • 21 July 1994: Standard registration
  • 13 April 2016: Removed (Transfer of funds)
  • 13 April 2016: Funds transferred to 1160125 OPEN AGE
Organisation type:
Other
Other names:
  • OPEN AGE (Working name)
Gift aid:
No information available
Other regulators:
No information available
Policies:
No policies declared
Land and property:
No information available

Financial history

" role="img"> Text alternative for this canvas graphic is in the data table below.

Financial period end date

Income / Expenditure 31/03/2011 31/03/2012 31/03/2013 31/03/2014 31/03/2015
Total gross income £1.03m £1.02m £1.15m £1.39m £1.52m
Total expenditure £1.09m £1.07m £1.19m £1.43m £1.62m
Income from government contracts N/A N/A N/A N/A £377.98k
Income from government grants N/A N/A N/A N/A £765.73k
Income - Donations and legacies £153.39k £193.47k £134.11k £198.20k £240.52k
Income - Other trading activities £0 £0 £0 £0 £0
Income - Charitable activities £876.44k £822.99k £1.01m £1.19m £1.28m
Income - Endowments £0 £0 £0 £0 £0
Income - Investment £1.39k £1.69k £2.06k £1.23k £692
Income - Other £0 £0 £0 £0 £0
Income - Legacies £0 £0 £0 £0 £0
Expenditure - Charitable activities £1.07m £1.04m £1.16m £1.40m £1.58m
Expenditure - Raising funds N/A N/A N/A N/A N/A
Expenditure - Governance £15.80k £15.72k £16.14k £21.95k £22.95k
Expenditure - Grants institution £0 £0 £0 £0 £0
Expenditure - Investment management £0 £0 £0 £0 £0
Expenditure - Other £0 £0 £0 £0 £0

Assets and liabilities

Definitions for assets and liabilities
Own use assets

These are assets, other than investments, which are held for more than 12 months and used to run and administer the charity such as buildings, offices, exhibits and fixtures and fittings.

Long term Investments

Investments are assets held by the charity with the sole aim of generating income which will be used for their charitable purposes such as deposit accounts, shares, rental property and unit trusts.
Investment assets are re-valued every year and included in the balance sheet at their current market value.
Long term investments are held for more than 12 months.

Other assets

These are assets held generally for less than 12 months such as cash and bank balances, debtors, investments to be sold within the coming year and trading stock.

Defined benefit pension scheme asset or liability

This is a surplus or deficit in any defined benefit pension scheme operated and represents a potential long-term asset or liability.

Total liabilities

These are all the amounts owed by the charity at the balance sheet date to third parties such as bills due but not yet paid, bank overdrafts and loans and mortgages.

" role="img"> Text alternative for this canvas graphic is in the data table below.
Asset / Liability 31/03/2011 31/03/2012 31/03/2013 31/03/2014 31/03/2015
Own use assets £1.05m £980.97k £939.07k £892.67k £841.83k
Long-term investments £0 £0 £0 £0 £0
Other assets £372.31k £506.61k £591.46k £570.68k £497.24k
Defined benefit pension scheme asset or liability £0 £0 £0 £0 £0
Total liabilities £133.63k £249.83k £328.43k £298.29k £266.94k

Accounts and annual returns

This table shows the charity's record of submitting annual returns, accounts and trustees' annual report (TAR) for the last five financial periods.
Title Reporting year Date received Received Download
Annual return 31 March 2016 Not submitted
Accounts and TAR 31 March 2016 Not submitted
Annual return 31 March 2015 30 January 2016 On time
Accounts and TAR 31 March 2015 08 January 2016 On time
Annual return 31 March 2014 27 January 2015 On time
Accounts and TAR 31 March 2014 29 December 2014 On time
Annual return 31 March 2013 27 January 2014 On time
Accounts and TAR 31 March 2013 29 November 2013 On time

Governing document

Details of the type of governing document the charity has and when it was established.
It is not the full text of the charity's governing document.

CONSTITUTION ADOPTED 26/04/1994 AS AMENDED ON 02/12/2005 AS AMENDED BY SCHEME DATED 05/12/2006 AS AMENDED ON 25/04/2012

Charitable objects

1. TO ADVANCE EDUCATION AND PROVIDE OR ASSIST IN THE PROVISION OF FACILITIES FOR RECREATION OR OTHER LEISURE- TIME OCCUPATION FOR OLDER PEOPLE, AGED 50 OR OVER , PARTICULARLY THOSE RESIDENT IN THE ROYAL BOROUGH OF KENSINGTON AND CHELSEA , AND OTHER LONDON BOROUGHS 2. THE RELIEF OF UNEMPLOYMENT FOR THE BENEFIT OF THE PUBLIC IN SUCH WAYS AS MAY BE THOUGHT FIT, INCLUDING ASSISTANCE TO FIND EMPLOYMENT, TO THOSE OVER THE AGE OF 50, RESIDENT IN THE ROYAL BOROUGH OF KENSINGTON AND CHELSEA, AND OTHER LONDON BOROUGHS

Area of benefit

The area the charity can operate in, as set out in its governing document.

ROYAL BOROUGH OF KENSINGTON AND CHELSEA, LONDON BOROUGHS OF