The year’s total incoming resources of £16,934,193 were 1.7% more than 2009-10 whilst the year’s total resources expended of £16,982,802 were 2.4% higher than in 2009-10.
The results reflected:
A fairly stable year for income and costs in the care homes with average occupancy of 90.8%, slightly down from 91.4% last year.
The provision of quality service to all our service users, whilst maintaining strong control of the costs of those services.
The sale of an unused staff accommodation unit.
The major blip in the investment markets around the end of September 2011.
A reduction in free reserves as a result of the capital project in Malvern.
For detailed information please download the PDF of our 2010-11 Annual Report and Accounts, below.
The financial review uses information taken from the full financial statements for the year ended 30 September 2011, prepared in accordance with the Companies Act 2006, the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” 2005 and applicable accounting standards and which received in unqualified audit opinion.
This financial information may not contain sufficient information to enable a full understanding of the financial affairs of Friends of the Elderly. For further information the full Report and Financial Statements and the independent Auditor’s Report can be obtained from Friends of the Elderly, 40-42 Ebury Street, London SW1W 0LZ. The full Report and Financial Statements were approved by members of the Finance and General Purposes Committee on behalf of the Governing Council on 14th March 2012 and have been submitted to the Charity Commission and the Registrar of Companies.
Previous years' reports: