**Charity registration number 1000254 (England and Wales)** ## **AGE CONCERN - HIGHLANDS** **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025** ## **AGE CONCERN - HIGHLANDS** ## **LEGAL AND ADMINISTRATIVE INFORMATION** **Trustees** P Lake (Chairman) A Davies G McFadyen M Jarratt L Edwards M Ricard A Taylor **Charity number** 1000254 **Independent examiner** Anna Chapman FCA Chapman Worth Limited 2 The Old Estate Yard High Street East Hendred Wantage Oxfordshire OX12 8JY (Appointed 1 April 2024) ## **AGE CONCERN - HIGHLANDS** ## **CONTENTS** ||**Page**| |---|---| |Trustees' report|1 - 2| |Independent examiner's report|3| |Statement of financial activities|4| |Balance sheet|5| |Notes to the financial statements|6 - 13| ## **AGE CONCERN - HIGHLANDS** ## **TRUSTEES' REPORT** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ The trustees present their annual report and financial statements for the year ended 31 March 2025. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's constitution, the Charities Act 2011 and the Statement of Recommended Practice, "Accounting and Reporting by Charities", issued in March 2005. ## _Public benefit_ The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. ## **Achievements and performance** ## _Significant activities and achievements against objectives_ To repeat what the Trustees reported last year, over the last few years, the trustees have been reporting that there is no longer the demand for a Day Centre (see our Trustees reports for 2023 and 2024) and that Day Centres were not the places that elderly people wanted to come to. The Trustees first began discussing this position in 2022. In fact, the Highlands Day Centre was the last to close in our area and in the last few years our loss was about £15,00 per year. With this in mind, the Trustees began talking to another charity in Chipping Norton, the Theatre Chipping Norton, because they knew that the Theatre were looking for further premises. The theatre needed more room for the work that it did with young people and also with the facilities for elderly people, so the Age Concern, Chipping Norton Trustees offered their freehold building to the Theatre at no cost, providing the Theatre catered for the elderly in their plans. In fact, the Lawrence Nurses, our local charity that looks after the dying, needs an HQ and a place to run a bereavement club (most of the members of such a club will be elderly) and have agreed to work with the Theatre. The Age Concern Trustees wanted to make sure that this transfer of property was carried out correctly and employed solicitors who specialise in charity law to look after their interests. We are presently waiting for the final opinion of the Charity Commission. We have kept running our outings club, Chippy Active Trips, which has around 200 members. This sort of activity seems to be what the elderly want, and not Day Centres. We also lend out wheelchairs and walkers on a short-term basis. When needed, we act as a signposting organisation for any enquiries we receive, We intend in the future to become a grant-making body, but the full details have not yet been discussed amongst the Trustees ## **Financial review** Investment income continues to form a substantial proportion of the charity's income. There is also income from Chippy Active Trips Costs have been carefully managed to minimise the reduction in funds due to the building being closed. Although there has been some lettings. One of these lettings being Seated Exercises for the elderly which will continue when the Theatre takes over the building. ## _Reserves policy_ It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six months' expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities. This level of reserves has been maintained throughout the year. - 1 - ## **AGE CONCERN - HIGHLANDS** ## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## _Major risks_ The trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks. ## **Structure, governance and management** The charity was established by a charitable trust deed in 1992. The trustees who served during the year and up to the date of signature of the financial statements were: P Lake (Chairman) A Davies G McFadyen M Jarratt L Edwards M Ricard A Taylor (Appointed 1 April 2024) ## _Recruitment and appointment of trustees_ A board of trustees, who meet monthly, administer the charity, the members of which are as disclosed on the charity information page. There are sub-committees as applicable. The permanent paid employees manage the day-to-day operations of the charity. The trustees are elected at the annual general meeting and are given a trustees handbook. This outlines their responsibilities, details of the procedures and policies of the charity and information about Age UK. The The trustees' report was approved by the Board of Trustees. trustees’ report was approved by the Board of Trustees. .............................. P Lake (Chairman) P Lake (Chairman) **Trustee** Trustee # Date: ............................................. Date: ofa) 257 - 2 - ## AGE CONCERN - HIGHLANDS ## INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF AGE CONCERN - HIGHLANDS | report to the trustees on my examination of the financial statements of Age Concern - Highlands (the charity) for the year ended 31 March 2025. ## Responsibilities and basis of report As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011. | report in respect of my examination of the charity's financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination | have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011. ## Independent examiner's statement | have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1 accounting records were not kept in respect of the charity as required by section 130 of the Charities Act 2011. examination giving me cause to believe that in any material respect: - 2 _ the financial statements do not accord with those records; or 3 the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination. | have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. AnnaKUChapman WFCA Ua A Chapman Worth Limited 2 The Old Estate Yard High Street East Hendred Wantage Oxfordshire OX12 8JY , Dated: ..4....2L(4)Lols” qd ZC ages ## **AGE CONCERN - HIGHLANDS** ## **STATEMENT OF FINANCIAL ACTIVITIES** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ |**Unrestricted Endowment**
**funds**
**funds**
**Notes**
**£**
**£**
**Income and endowments from:**
Donations and legacies
**2**
350
-
Charitable activities
**3**
39,308
-
Investments
**4**
19,038
-
Other income
**5**
-
-
**Total income and endowments**
58,696
-
**Expenditure on:**
Raising funds
-
-
Charitable activities
**6**
69,337
-
Governance costs
8,704
-
**Total resources expended**
78,041
-
Net losses (gains) on investments
(3,841)
(298)
**Net movement in funds**
(15,504)
298
Fund balances at 1 April 2024
489,251
188,690
**Fund balances at 31 March 2025**
473,747
188,988|**Total**
**2025**
**£**
350
39,308
19,038
-
58,696
-
69,337
8,704
78,041
(4,139)
(15,206)
677,941
662,735|**Total**
**2024**
**£**
20
27,476
18,231
17,854
63,581
-
42,220
8,270
50,490
(8,147)
21,238
656,704
677,942| |---|---|---| - 4 - ## **AGE CONCERN - HIGHLANDS** ## **BALANCE SHEET** ## _**AS AT 31 MARCH 2025**_ ||||**2025**|||**2024**|| |---|---|---|---|---|---|---|---| ||**Notes**|**£**||**£**|**£**||**£**| |**Fixed assets**|||||||| |Tangible assets|**10**|||238,025|||225,292| |Investments|**11**|||421,430|||417,291| |||||659,455|||642,583| |**Current assets**|||||||| |Debtors|**12**|879|||2,820||| |Cash at bank and in hand||14,097|||34,159||| |||14,976|||36,979||| |**Creditors: amounts falling due within**|**13**||||||| |**one year**||11,696|||1,620||| |Net current assets||||3,280|||35,359| |**Total assets less current liabilities**||||662,735|||677,942| |**Capital funds**|||||||| |Endowment funds||||188,988|||188,691| |**Income funds**|||||||| |Unrestricted funds||||473,747|||489,251| |||||662,735|||677,942| The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2025. The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the board of directors and authorised for issue on ......................... and are signed on its behalf by: .............................. P Lake (Chairman) **Trustee** - 5 - ## **AGE CONCERN - HIGHLANDS** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **1 Accounting policies** ## **Charity information** Age Concern - Highlands is a registered charity established by a charitable deed in 1992. ## **1.1 Accounting convention** The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below. ## **1.2 Charitable funds** Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are those funds where the income is used to further the charities objectives. ## **1.3 Incoming resources** Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes. - 6 - ## **AGE CONCERN - HIGHLANDS** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **1 Accounting policies** **(Continued)** ## **1.4 Resources expended** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use. ## **1.5 Tangible fixed assets** Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: |Land and buildings|1% straight line basis| |---|---| |Plant and machinery|15% reducing balance basis| |Motor vehicles|25% reducing balance basis| The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. ## **1.6 Fixed asset investments** Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred. ## **1.7 Impairment of fixed assets** At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). ## **1.8 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## **1.9 Financial instruments** The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. - 7 - ## **AGE CONCERN - HIGHLANDS** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **1 Accounting policies** ## **(Continued)** ## _**Basic financial assets**_ Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. ## _**Basic financial liabilities**_ Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled. ## **1.10 Employee benefits** The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. ## **2 Donations and legacies** |Donations and gifts
**3**
**Charitable activities**
Services
Charitable rental income|**CATs**
**£**
38,056
-
38,056|**Total**
**£**
38,056
1,252
39,308|**2025**
**£**
350|**2024**
**£**
20| |---|---|---|---|---| |||||**2024**
**£**
25,832
1,644| |||||27,476| - 8 - ## **AGE CONCERN - HIGHLANDS** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **4 Investments** ||**Unrestricted **|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2025**|**2024**| ||**£**|£| |Income from listed investments|4,593|8,679| |Interest receivable|14,445|9,552| ||19,038|18,231| ## **5 Other income** |**Unrestricted**
**2024**
**£**
Net gain on disposal of tamgible fixed assets
-
**Charitable activities**
**Activities**
**undertaken**
**directly**
**Total**
**£**
**£**
Staff costs
5,949
5,949
Depreciation and impairment
3,746
3,746
Other expenditure
59,642
59,642
69,337
69,337
69,337
69,337
**Analysis by fund**
Unrestricted funds
69,337
69,337
69,337
69,337|**Total**
**2024**
**£**
17,854| |---|---| ||**2024**
**£**
5,424
3,999
32,797| ||42,220| ||42,220| ||| ## **6 Charitable activities** ## **7 Governance costs** Included within Governance costs are fees of £1,164 (2024- £1,140) for the Independent Examination. - 9 - ## **AGE CONCERN - HIGHLANDS** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **8 Trustees** During the year and comparative year none of the trustees (or any persons connected with them) received any remuneration or reimbursed expenses during the year. None of the trustees (or any persons connected with them) made any donations to the charity during the year or comparative year. ## **9 Employees** The average monthly number of employees during the year was: |**Employment costs**
Wages and salaries|**2025**
**Number**
1
**2025**
**£**
5,949|**2024**
**Number**
1| |---|---|---| |||**2024**
**£**
5,424| There were no employees whose annual remuneration was more than £60,000. ## **10 Tangible fixed assets** |**Tangible fixed assets**||| |---|---|---| |**Cost**
At 1 April 2024
Additions
At 31 March 2025
**Depreciation and impairment**
At 1 April 2024
Depreciation charged in the year
At 31 March 2025
**Carrying amount**
At 31 March 2025
At 31 March 2024|**Land and**
**buildings**
**Plant and**
**machinery**
**Motor vehicles**
**£**
**£**
**£**
299,313
38,109
50,331
16,480
-
-
315,793
38,109
50,331
77,664
35,617
49,181
2,993
374
379
80,657
35,991
49,560
235,136
2,118
771
221,650
2,492
1,150|**Total**
**£**
387,753
16,480| |||404,233| |||162,462
3,746| |||166,208| |||238,025| |||225,292| - 10 - ## **AGE CONCERN - HIGHLANDS** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 MARCH 2025**_ |**11**
**Fixed asset investments**
BMO Global Asset Management
Black Rock Charinco
Wise Investments
Black Rock Charinshare
-
**12**
**Debtors**
**Amounts falling due within one year:**
Prepayments and accrued income
**13**
**Creditors: amounts falling due within one year**
Trade creditors
Accruals and deferred income|**2025**
**£**
81,791
36,049
188,989
114,601
421,430
**2025**
**£**
879
**2025**
**£**
10,532
1,164
11,696|**2024**
**£**
81,531
36,873
188,691
110,196| |---|---|---| |||417,291| |||**2024**
**£**
2,820| |||**2024**
**£**
-
1,620| |||1,620| ## **14 Retirement benefit schemes** The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. The was no charge to profit or loss in respect of defined contribution schemes during the year (2024 - Nil). - 11 - ## **AGE CONCERN - HIGHLANDS** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **15 Endowment funds** Endowment funds represent assets which must be held permanently by the charity. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund. |**Balance at**
**1 April 2023**
**r**
**£**
166,538
166,538|**Movement in funds**
**Incoming**
**esources**
**Resources**
**expended**
**Transfers**
**Gains and**
**losses**
**Balance at**
**1 April 2024**
**r**
**£**
**£**
**£**
**£**
**£**
-
-
20,000
2,153
188,690
-
-
20,000
2,153
188,690|**Movement in funds**
**Incoming**
**esources**
**Resources**
**expended**
**Transfers**
**Gains and**
**losses**
**Balance at**
**31 March 2025**
**£**
**£**
**£**
**£**
**£**
-
-
-
298
188,988
-
-
-
298
188,988|**Movement in funds**
**Incoming**
**esources**
**Resources**
**expended**
**Transfers**
**Gains and**
**losses**
**Balance at**
**31 March 2025**
**£**
**£**
**£**
**£**
**£**
-
-
-
298
188,988
-
-
-
298
188,988| |---|---|---|---| ||||188,988| - 12 - ## **AGE CONCERN - HIGHLANDS** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2025**_ ## **16 Unrestricted funds** The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. ||**At 1**|**April**|**Incoming**|**Incoming**|**Resources**|**Transfers**|**Gains and**|**At 31 March**| |---|---|---|---|---|---|---|---|---| |||**2024**|**resources**||**expended**||**losses**|**2025**| |||**£**||**£**|**£**|**£**|**£**|**£**| |General funds|489,251|||58,696|(78,041)|-|3,841|473,747| |**Previous year:**|**At 1**|**April**|**Incoming**||**Resources**|**Transfers**|**Gains and**|**At 31 March**| |||**2023**|**resources**||**expended**||**losses**|**2024**| |||**£**||**£**|**£**|**£**|**£**|**£**| |General funds|490,166|||63,581|(50,490)|(20,000)|5,994|489,251| |**Analysis of net assets between**|||**funds**|||||| |||||||**Unrestricted**|**Endowment**|**Total**| |||||||**funds**|**funds**|| |||||||**2025**|**2025**|**2025**| |||||||**£**|**£**|**£**| |**At 31 March 2025:**||||||||| |Tangible assets||||||238,025|-|238,025| |Investments||||||232,442|188,988|421,430| |Current assets/(liabilities)||||||3,280|-|3,280| |||||||473,747|188,988|662,735| |||||||**Unrestricted**|**Endowment**|**Total**| |||||||**funds**|**funds**|| |||||||**2024**|**2024**|**2024**| |||||||**£**|**£**|**£**| |**At 31 March 2024:**||||||||| |Tangible assets||||||225,292|-|225,292| |Investments||||||228,600|188,691|417,291| |Current assets/(liabilities)||||||35,359|-|35,359| |||||||489,251|188,691|677,942| ## **17 Analysis of net assets between funds** - 13 -