Company registration number.. 02703636
Charity registration number.. 1010973
Age UK Exeter
IA company limited by guarantee)
Annual Report and Financial Statements
for the Year Ended 31 March 2024
WESTCOTTS
4 •US1141SS AOVIS
•ADFEOJTN•
0711112024
COMPANIES HOUSE
A13
#12

Age UK Exeter
Contents
Reference and Administrative Details
Trustees, Report
2to10
Independent Examiner's Report
statement of Financial Activities
12
Balance Sheet
13
Statement of Cash Flows
14
Notes lo the Financial Statements
15to29

Age UK Exeter
Reference and Adm inistrative Details
Chairman
John Cartridge
Trustees
stephen Noon (appointed 11 April 2023)
Peter Brew
Ross Bright (resigned 9 Juty 2024)
Lydia Ward
Claire Morse {appointed 12 December 2023>
John Cartridge
Darren Burr (appointed 15 Augusl 2023)
Laura Hobbs (resigned 23 February 2024)
Gavin Ball
David Mutton (appointed 30 April 2024)
Secretary
Nicole Flynn
Charity Règlstratlon Number
1010973
Company Registration Number 02703636
Registered Office
The Sycamores
Mount Pleasant Road
Exeter
EX4 7AE
Independent Examlner
Westcolts (SW) LLP
Timberly
South Street
Axminster
Devon
EX13 SAD
Accountants
Weslcotts
Timberly
South Street
Axminster
Devon
EX13 SAD
Page 1

Age UK Exeter
Trustees, Report
The truslees, who are directors for the purposes of company law, present the annual report together
with the financial statements of the charitable company for the year ended 31 March 2024.
Objectlves and actlvitles
Public benefit
The trustees confimi that they have cornplied with the requirements of section 17 of the Charities Act
2011 to have due regard to the public benefit guidance published by the Charity Commission for
England and Wales.
In setting objectives and planning for activities, the trustees have given due consideration lo general
gU￿anCe published by the Charity Commission relating to public benefit.
Age UK Exeter makes a p051tive contribution to the lives of over 1,000 older people each week
through the support services and opportunities we provide. We help older people to maintain and
enhance their quality of life. make informed choices. realise their rights, and meet Iheir care needs.
Many of these seNices are free. some are charged for, and some provided under a contract with the
RD & E Hospital Trust.
The charity's objectives are to work to improve later life for everyone in Exeter by providing h￿h
quality seriices and enabling older people to make the most of life whatever their circumstances.
Strategies for achieving objectives
The strategy to achieve these objectives continued to be through the provision of support and
opportunities for older people with a wide range of needs and seeking to ensure that the views and
best interests of older people are taken into account by local policy makers.
Activities for achieving objectives
This was achieved through the provision of..
Services that provide meaningful and stimulating social contact and practical support in a range of
settings.
SeNices that offer time-off and emotional and practical support to carers.
Services that promote older people's independence. confidence. and self-esteem.
Information and advice that enables informed choices to be made and promotes benefit.
entitlement.
Services that promote older people's physical and mental wellbeing.
A range of leisure and leaming opportunities that provide enjoyment and mental stimulation.
SeNices that aim to help frail older people avoid unnecessary hospital admissions.
Services that help older people manage their long-term conditions and get the most out of life.
Representing the wants and needs of local older people lo local decision makers.
Working in partnership with other agencies to deliver services and influence service design.
Volunteers
Like many charities, volunteer recruitment has remained a challenge. We are so grateful for the 114
(as of August 20241 volunteers who have continued to support people through the aclivities and
services we have been able to deliver. They truly are a resource of which Exeter can be proud.
Page 2

Age UK Exeter
Trustees. Report
SeNices provided
Hospital to Home
Sycamore Days Day Service
Enabling and Home Support Service
Dementia Support Services and Budding Friends
Handy Person Service
Time for You volunteer sitting service
Information and Advice Service
Careline and Befriending
Carers Support
Activities
Chair Based Exercise weekly classes
Digital workshops
Qigong weekly classes
Tea Dance weekly classes
Sycamore Singalongs (singing for memory classes)
Craft Group
Sycamore Lunch Club
Adhoc events and trips to mark the seasons and special weeks such as carer5 week and volunteerfs
week.
Achievements and performance
'At eighly, thets sometimes seems that Ihere is little conversation to be had with the modem wortd..
however, Age UK Exeter through its staff revives one s belief in a caring wortd- Th8nk you. A g￿81
poet, W.B Ye8ts ￿MInded us, .1 have spread my dreams beneath your feet. Iread softly because you
tread on my d￿aMS.,
Age UK Exeter has worked hard this year to ensure we promote later life and positive ageing. Over
the last year we have doubled the number of weekly contacts to 1,000 and many older people are
experiencing loneliness and isolation. A report published by Age UK called "All the lonely people,
loneliness in later life. says that if the situation is not tackled there will be over 2 million older people
who are often lonely by 2026. The quote above is from a service user who has a volunteer visitor
weekly through our Volunteer Visiting scheme.
With one in three over So's experiencing ageism, there has never been 8 time to be working harder on
promoting wellbeing in later life.
'When a programme of care is agreed, everything possible is done to keep it Ilowing. There 15 always
a friendly ear when lurther aid is requested. Age UK Exeter allows me to live alone at
home."
This is a quote from a recipient of our'Hospital lo Home, project which supports people when they are
discharged from hospital lo aid a smoother transition to home.
Our Enabling and Home Support paid for seNice has been extremely busy and it supports over 200
over 50's per week. This service offers help with shopping, visits to hospital, administration and is a
vital service to enable people to stay in the home of their choice and be a5 independent as they
choose.
Page 3

Age UK Exeter
Trustees, Report
"Had a very good experience in all areas. Felt very included and supported by everyone. Everyone-
staff, volunleers end atlendees have been so kind, caring and compassionate."
"Having home help leaves me with the energy to lake part in activities away from the home."
Quotes from users of the Enabling and Home Support Setvice.
One of Age UK Exeter's unique selling points is that the staff acros5 the whole organisalion work hard
to ensure the experience for the service usef or carer is as joined up as possible. There is a lot of
cross referring.
"Made a huge difference lo me and my olher ham- coping wilh declining Alzheimerfs in myself. So
gt￿d to be wilh others in the same boat and now feeling so well supported and cared for. Made a
lovely new bunch of fnends and a new way ol lifel"
This quote is from the carer of someone who has used the Information and Advice Service as well as
Budding Friends, Enabling and Home Support, Carers Support and the Handy Person project. In a
world where there are so many different agencies and the person often has to tell their story far too
many times, we pride ourselves on trying to make the experience a much easier one when going
acros5 all the projects,
Sycamore Days has grown. and we now run this seNice for 2.5 days per week. This offers stimulation
and person.centred care for the person living with a dementia or cognitive impairment and
much-needed break for the carer.
"I feel confidenl leaving my husband with his complex needs in a safe, friendly, relaxed envimnment,
knowing the Ca￿rS are conscious of his needs." A quote from a carer who uses Sycamore Days.
Our Information and Advice SeThice has seen on average 500 clients in this financial year. Many of
those are for more than one session. This service is phenomenally busy, and Ihe needs are more and
more complex.
Overall, all of our services have seen a rise and that speaks to the doubling of users over the year.
We have sel up new sernices but have also sadly had to close services. We had to take the difficult
decision to close the Men in Sheds in October 2023. This wasn't taken lightly, and the Board of
Trustees and I spent many meetings looking at oplions. The reason was that since Covid, the project
wasn't generating the income and we needed to set up a project that spoke to the core values of
inclusion.
We are still facing considerable financial challenges and operate a full cosl recovery model, We work
hard to balance cost to clients whilst ensuring that our services are priced well and offer good quality
and value.
Page 4

Age UK Exeter
Trustees, Report
We ran a staff and Board away day in June and from that we have written a three-year strategy that
will focus our resources and slaff and volunteer teams on key priorities. These are securing our
financial base so that we are sustainable and still around in 5.10 and 15 years. This includes growing
our community and corporate fundraising income and developing services for people living with
dementia and their carer's. We are also increasing our day setvice, growing the Handy Person
project, looking at our quality and reviewing services with client feedback to ensure relevance.
supporting our staff and volunleers well and ensuring we consult with users of the service.
In March 2024 we ran our second gala with Will Carling as speaker. This didn't raise much income.
bul again, raised our profile and we got support from local businesses which was really appreciated.
We hosted our second church seniice at St Marks in December where we had a dementia choir and a
speaker from Devon NHS Partnership Hub. The turnout was low, but the choir We￿ great and really
showcased the organisation well.
We are incredibly proud of the staff and volunteers who make the charity what it is today and of the
reputation we hold in the city for the quality of our Se￿iceS and the care and commitment of our staff
and volunteers.
Structure, governance and management
Natu￿ of governing document
The charity is registered as a charitable company limited by guarantee and was sel up by a
Memorandum of Association on 3 April 1992. The principal objects of the charity are to work lo
improve later life for everyone in and around Exeter by providing life enhancing services and vital
support. There have been no changes in the objectives since the last annual report,
Recruitment and appointment of trustees
The directors of the company are also charity trustees for the purposes of charity law. Under the
requirements of the Memorandum and Articles of Association the trustees shall be not le5S than five.
Charity trustees shall hold office for an initial term of three years and may be reappointed for further
terms of three years each, save that the Chair may only serve for a maximum of six consecutive
years.
The Board of Trustees seeks to ensure that awareness of the needs of older people in Exeter and the
best interests of the charity are reflected in the makeup of the trustee body by recruiting members wrth
appropriate experience, knowledge and expertise. This includes health and social care. legal, social
policy. HR, business, and financial expertise. The Irustees monitor the skill mix and representation of
the Board at regular intervals to infomi its recruitment process. In the event of skills being lost due to
end of service or retirement. individuals are approached to offer themselves for election to the Board
or vacancies are advertised on the charity's website andlor social media channels.
Page S

Age UK Exeter
Trustees. Report
Induction and tralnlng of trustees
Following an expression of interest, a prospective trustee will meet with the CEO to discuss the role of
trustee. If both are in agreement, they will meet with the Chair of trustees to discuss further interest,
expertise, suitability. and whether to proceed. If all parties are in agreement, they are then invited to
attend a Board meeting as an observer. Following this, they will. if proceeding, follow due diligence
and receive the relevant paperwork and complete an enhanced DBS check. If all documents are
received and approved. the trustee can be co-opted at the next Board meeting. Official approval and
appointment take place at the AGM which usually meets in October of each year. On co-option,
trustees will ￿ceive..
Welcome letter including link to Age UK Exeter website and policies, Charity Commission and
National Council for Voluntary Organisations INCVO) and invite to insighvinduction morninglor
condensed training.
Trustee Handbook
Current strategy
Governing Document
Last annual report
List of committees
Two previous Board minutes
Link to financial records
Dales of meetings for coming year.
Pay pollcy for senior staff
The Finance committee reviews the salaries of senior staff and makes recommendations to the
Board, taking into account market information, and cost of living and wage indices.
Oryanisational structure
The charity has a Board of Trustees who meet formally bimonthly and are responsible for the strategic
direction and governance of the charity. The Board has 8 members las of 31 March 20241 from a
variety of backgrounds relevant to the WO￿ of the charity. It also has a finance sub-committee made
up of 5 members of the eoard, including the Treasurer, Chair, and Vice-chair. This committee meets
monthly and reports lo the main Board. It also has a Risk and Quality committee, with 5 members
comprising 3 Iru5tees, the CEO and Governance Officer. This committee meets bimonthly and reports
to the main Board.
The CEO has overall responsibility for the organisation, the Governance Officer has oversighl of all
govemance of the charily and the Adminislralion, Finance and HR Manager has responsibility for
maintaining financial procedures, the production of monthly management accounls, staff payroll and
for personnel functions.
Page 6

Age UK Exeter
Trustees. Report
Related Parties
Age UK Exeter works with both Devon County Council's Adult and Community SeNices Directorate
and with Devon NHS, Ihrough our local Integrated Care Boards, the RD&E Hospital Trust and Exeter
Primary Care. The charily a150 has links with Exeter City Council and has good working relationships
with relevant local charities. The charity seeks to inform the development, design, and delivery of local
ServI￿S for the benefit of older people and to campaign on issues of local importance. The CEO is
currently on the Executive committee of the Age England Association and chairs the Age UK
Southwest regional meeting which meets quarterly. This enables the charity to keep abreast of
regional and national issues of relevance and advocate for older people locally.
Age UK Exeter is a brand partner of Age UK and a member of the Age UK England Association. Age
UK Exeter is subject to Age UK'S quality assurance scheme to ensure good quality standards across
the Age UK network and achieved the Charity Quality Standard in February 2023. HR support and
guidance is provided by a national contract funded by Age UK and provided by Stephens & Scown
Solicitors, HR Express service.
Rlsk Management
The trustees acknowledge that risk management is the responsibility of the Board of Trustees. The
Board has Iherefore agreed a Risk Management Policy which balances the charity's need lo lake
risks in pursuance of its charitable purposes with their duty to ensure that the charitrfs financial and
legal standing and the quality and safety of ils operations are not compromised.
The Risk and Quality committee takes responsibility for compiling and updating the Risk Register in
consultation with the Governance Officer, Finance committee, and the CEO. The Board also reviews
the Risk Register al every meeting. The Board, in consultation with the CEO agree the actions
necessary to mitigate risk and these fom part of the strategic and operational plan for the following
year.
Financial management accounts are produced on a monthly basis and include full cost ￿¢0Very. The
Finance committee reviews performance based on this detailed information each month and reports
to the full Board after each of its meetings.
Hawksmoor investments manage the charity's investment portfolio as has been the case for a number
of years now. This fund is managed in line with our chosen risk, return and investment policy and
fomial reporting is received quarterly with an online portal allowing assessment of value at any time
Internal risks are minimised by the implementalion of procedures for authorisation of all transactions
and projects and a system of ￿g(lIar supervision and appraisal is in place to ensure consistent quality
of delivery of all operational aspects of the charity. Employment risks have been minimised by
accessing Stephens & Scown Solicitors whom we access via Age UK. The Board ha5 also developed
and approved a range of policies to meet the governance, legal and best practice need5 of the chanty,
and these have been implemented during the year.
Major risks identified by the processes detailed above have been examined and controls introduced
where necessary to mitigate those fisks. However, it should be emphasised that Ihese controls can
only provide reasonable but not ab501ute assurance that risks have been adequately mitigaled, given
the financial uncertainly of the charitable sector.
Page 7

Age UK Exeter
Trustees. Report
Fundraising activities and income generation
Age UK Exeter are grateful for grants totalling £41.162 including sums from the David Gibbons
Foundation, Francis Winham Foundation. National Lollery, Mcclay Dementia Trust, J Winterbottom N
Spicer Charity, NHS and Age UK National.
Donations for the year totalled £28,658, wrth legacies reflecting £116.452 and fundraising events
providing for £12.492. Income generated from charged for services brought in £614,645 in the year.
These include our Enabling and Home Support service, Sycamore Day Service, Handyperson servi
amongst other support services we provide to Ihe community
Total income reflected in the year equates to £820,645, which is a 4(At increase when compared to the
year ended March 2023.
Investment policy and performance
The Board of Trustees has agreed on a policy of holding fixed interest, property, and equity
investments. The Board adheres lo a medium risk investment policy. and the investments are
managed on a discretionary basis by Hawksmoor Investment Management. In the year, £50,000 was
withdrawn from our investment portfolio. with much of the reinveslmenl of dividends covering
management charges. The underlying investments increased in value by £5.806 during the year.
There were investment management costs of £888 {2024). The trustees have chosen to retain the
investment income to reinvest to enhance capital growth in the longer term.
Going Concern
After making appropriate enquires, the Irustees have a reasonable expectation that the charity has
adequate reSoUr￿S lo continue for the loreseeable future. For this reason, they continue to adopt the
going concern basis in preparing financial statements.
Reserves PolScy
The Board of Trustees has detemiined a policy that, wherever possible, the charity should hold
reserves of investments and cash equating lo no less than 3 months and no more than 6 months of
the charity's overall running costs. Where seNices are at risk and need to be sustained while new
sources of funding are sought, the Board agrees that reserves may fall below Ihe level equating to 3
months running costs but should not drop below the level of £200.000 without further authorisation
from the Board. Expenditure for the year was £872,659 and therefore reserves should ideally sland al
no less than £218.165 and no more than £436.330. This increase in reserves reflects the underlying
increase in operating costs borne by Age UK Exeter and the risk awareness of the Board lo
implement strategic gateposts to raise awarene5S.
Page 8

Age UK Exeter
Trustees. Report
Financial review for the year
We closed the year with a loss of £46,208 which includes investment gains of £5,806. Without these
gains, we see an operating loss of £52,014.
Income received from grants and legacies oulperformed expectation which compensated for losses
seen within specific arms within Ihe organisalion.
Our Enabling Service provided most of the income reported in the year. however our Sycamore Days,
Hospital to Home and Wellbeing Exeter also contributed highly. As denoted in the Trustee Report. we
have developed a clear three-year plan which sets out expectations so that the charity remains in-situ
for many years to come. Our focus will be on growing our community and engagement with corporate
enlities, developing services for people living with dementia and their carers and continually looking al
our service offering to ensure we exceed our own high expectalions.
Although our income has InC￿aSed by 40A against the prior year, our costs have increased by over
10 % which reflects increases in minimum wage, utility fees and inflation. This impacl has had severe
effects on the charities ability to Continue as normal and tough decisions regarding cessation of
loss-making activities were made as a consequence in order to protect core areas of the charity.
This impact from an increase in costs, also forced a withdrawal of funds from investment reserves in
order to meet short term commitments. Much work has been done to forecast and budget
expenditure, however there is still a strong reliance on donations and legacies lo which we are
incredibly grateful. Without these kind and generous receipts. the charity would not be in service,
We continue to work tremendously hard to achieve a profitable mix between paid for services
alongside charitable assistance with our efforts closely monitored by the monthly meeting of the
Finance Committee, which reports to the Board.
Princlpal Funding
The charity's main sources of funding were grants (10%). commissioned services under contract to
Devon County Council and RD and E Hospital Trust (11%), fees for charged for services (560/0). and
donations and legacies (17%).
Page 9

Age UK Exeter
Trustees, Report
Statement of trustees, responsibilities
The trustees {who are also the directors of Age UK Exeter 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). including FRS 102 "The Financial Reporting Standard applicable in the UK and
Republic of Ireland"
Company law requires the trustees lo prepare financial statements for each financial year. Under
company law the trustees musl not approve the financial statements unless they are salisfied that
they give a true and fair view of the slate of affairs of the charitable company and of the incoming
resources and application of resources, including its 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 apply them consislenlly,.
obsep4e the methods and principles in the Charities SORP,.
make judgements and estimates that are reasonable and prudent.,
stale whether applicable accounting standards, comprising FRS 102 have been followed, subject
to any material departure5 disclosed and explained in the financial statements., and
. prepare the financial statements on the going concern basis unle8S it is inappropriate to presume
that the charitable company will continue in business.
The trustees a￿ responsible for keeping proper accounting records that can 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 Iraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial
information included on the charitable company's website. Legislation goveming ihe preparation and
dissemination of financial statements may differ from legislation in other jurisdictions.
The annual report was approved by the trustees of the charity on
behalf by.
and signed on its
John Cartridge
Chairman and trustee
Page 10

Age UK Exeter
Independent Examiner's Report to the trustees of Age UK Exeter ('the
Company,)
I report to the charity trustees on my examination of the accounts of the Company for the year ended
31 March 2024.
Responsibilities and basis of report
As the charity's Irustees of the Company (and also its directors for the purposes of company lawl you
are responsible for the preparation of the accounts in accordance with the requirements of the
Companies Act 2006 ('the 2006 Act,).
Having satisfied myself thal the accounts of the Company are not required lo be audited under Part
16 of the 2006 Acl and are eligible for independent examination, I report in respect of my examination
of your Gharily's accounts as carried out under section 145 of the Charities Act 2011 I'the 2011 Act'l.
In carrying out my examination I have followed the Directions given by the Charity Commission under
section 145{5)(b) of the 2011 Act.
Independent examiner's statement
Since the Company's gros5 income exceeded £250,000 your examiner must be a member of a body
listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination
because l am a member of ICAEW, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in eonnection
with Ihe examination giving me cause to believe..
1. accounting records were not kept in respecl of Age UK Exeter as required by section 386 of the
2006 Act,. or
2. the accounts do not acGord with those records., or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act
other than any requirement that the accounts give a 'true and fair view, which is not a matter
considered as part of an independent examination., or
4. the accounts have not been prepared in accordance with the methods and principles of the
Slalement of Recommended Practice for accounting and reporting by charilies lapplicable to
charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102)].
I 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 lo enable a proper understanding of the
acco
to be reached.
uart Carrington FCA
For and on behalf of Westcotts (SW) LLP
Timberly
South Street
Axminster
Devon
EX13 SAD
Dale..
Page11

Age UK Exeter
Statement of Financial Activities for the Year Ended 31 March 2024
(Including Income and Expenditure Account and Statement of Total
Recognised Gains and Losses)
Unrestricted
funds
Restricted
funds
Total
2024
Total
2023
Nole
Income and Endowments from:
Donations and legacies
Charitable activities
Other trading activities
Investment income
151,443
514,586
12,492
5.565
36,500
100,059
187,943
614,645
12,492
5.565
237,534
520,548
25,519
3,785
Total income
684,086
136,559
820,645
787,386
Expenditure on:
Raising funds
Charitable activities
(21.788)
701,132
(21,788)
850,871
(16,833)
773,657
149,739
Total expenditure
Gainsl(losses) on
investment assets
(722,920)
(149,739)
{872,659)
(790,490)
5,806
5,806
8,307
Net expenditure
33.028
13,180
46,208
11,411
Nel movement in funds
133,028)
(13,180>
{46,208)
Reconciliation of funds
Total funds brought forward
Total funds carried forward 19
896,676
22.031
918,707
872,499
930,118
918,707
863.648
8,851
All of the charity's activities derive from continuing operations during the above two periods.
The funds breakdown for 2023 is shown in note 19.
The notes on pages 15 to 29 fom an integral part of these financial statements.
Page 12

Age UK Exeter
(Registration number: 02703636)
Balance Sheet as at 31 March 2024
2024
2023
Note
Fixed assets
Tangible assels
Investments
711,138
113,317
714,791
156,489
14
824,455
871.280
Current assets
Debtors
Cash al bank and in hand
155,701
24,822
180,523
68,406
106.665
175.,071
Credltors." Amounts falling due withln one year.
16
132,479
27,644
Net current assets
48,044
147.427
Total assets less current Ilabllltles
872,499
1,018,707
Credltors: Amounts falllng due after more than one year 17
Net assets
100,000
872.499
918,707
Funds of the charity:
Restrlcted income funds
Restricted funds
8,851
22,031
Unrestricted income funds
Unrestricted funds
863,648
896,676
Total funds
19
872,499
918,707
For the financial year ending 31 March 2024 the charity was entitled to exemption from audit under
section 477 of the Companies Acl 2006 relating to small companies.
Directors, responsibilities=
The members have not required the charity to obtain an audit of its accounts for the year in
question in accordance with section 476, and
The directors acknowledge their responsibilities for complying with the requirements of the Act. with
respect to accounting records and the preparation of accounls.
The financial statements on pages 12 to 29 were approved by the trustees. and aulhorised for issue
on.
and signed on their behalf by..
Joh
Cartri
ge
Chairman and trustee
The notes on pages 15 to 29 form an integral part of these financial statements.
Page13

Age UK Exeter
Statement of Cash Flows for the Year Ended 31 March 2024
2024
2023
Note
Cash flows from operating actlvltles
Net cash expendrture
(46,208)
Adjustments to cash flows from non-cash items
Depreciation
Investment income
Revaluation of investments
8.315
(5,565)
(5,806)
(49,2641
9,920
(3,785)
8,307
3,031
Working capltal adjustments
(Increase)Idecrease in debtors
Increasel{decrease) in creditors
(87,295)
4,835
50,945
451
16
Net cash flows from operating activities
131,724)
53,525
Cash flows from Investlng activltles
Interest receivable and similar income
Purchase of tangible fixed assets
Sale of tangible fixed assets
Purchase of investments
Sale of investments
5.565
14,662)
3.785
(11,173)
13
14
11,910)
50,888
(2,229)
1,112
Net cash flows from investing activities
Net (decreasellincrease in cash and cash equivalents
Cash and cash equivalents al 1 April
Cash and cash equivalents at 31 March
49,881
8,504
(81,843)
106,665
45.021
61,644
24,822
106,665
All of the cash flows are derived from continuing operations during the above two periods
The notes on pages 15 to 29 form an integral part of these financial statements.
Page 14

Age UK Exeter
Notes to the Financial Ststements for the Year Ended 31 March 2024
1 Charity status
The charity is limited by guarantee, incorporaled in England & Wales. and consequently does not
have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards
the assets of the chanty in the event of liquidation.
The address of ils registered office is=
The Sycamores
Mount Pleasant Road
Exeter
EX4 7AE
2 Accounting policies
Summary of significant accountlng pollcles and key accounting estimate5
The principal accounting policies applied in the preparation of these financial statements are set out
below. These policies have been consistently applied to all the years presented, unless othefwise
stated.
ststement of compliance
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 IFRS
102)) (issued in October 20191- (Charities SORP (FRS 102)). the Financial Reporting Slandard
applicable in the UK and Republic of Ireland {FRS 102) and Ihe Companies Act 2006.
Basis of preparation
Age UK Exeter meets the definition of a public benefit entity under FRS 102. Assets and liabilities are
initially recognised al historical cost or transaction value unless olhepAiise stated in the relevant
accounting policy notes.
Golng concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as
a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by
Ihe charity.
Judgements and key sources of estimation uncertalnty
The preparation of the financial statements requires management to make judgements, estimates and
assumptions that affect the amounts reported. These estimates and judgements are conlinually
reviewed and are based on experience and other factors, including expectations of future events that
are believed to be reasonable under the circumstances. There are no judgements or key sources of
estimation uncertainty that have a significant risk of causing a material adjustment'to assets and
liabilities to be disclosed.
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely
equal the related actual outcome.
Page 15

Age UK Exeter
Notes to the Financial Statements for the Year Ended 31 March 2024
Income and endowments
All income is recogni5ed once the charity has entitlement to the income, it is probable that the income
will be received and the amount of the income receivable can be measured reliably.
Donations and legacles
Donations are recognised when the charty has been notified in writing of both the amount and
settlement date. In the event that a donation is subject to Conditions that require a level of
performance by the charity before the charity is entitled to the funds, the income is deferred and not
recognised until either those conditions are fully mel, or the fulfilment of those conditions is wholly
within the control of the charity and rt is probable that these conditions will be fulfilled in the reporting
period.
Legacy gifts are recognised on a case by case basis following the grant of probate when the
administratorlexecutor for Ihe estate has communicated in writing both the amount and settlement
date. In the event that the gift is in the form of an asset other than cash or a financial asset Iraded on
a recognised stock exchange. recognition is subject to the value of the gift being reliably measijrable
with a degree of reasonable accuracy and the title to the asset having been transferred to the charity.
Grants receivable
Grants are recognised when the charity has an entitlement lo the funds and any conditions linked to
the grants have been mel. Where performance conditions are attached to the grant and are yet to be
met, the income is recognised as a liabilrty and included on the balance sheet as deferred income to
be released.
Investment income
Dividends are recognised once the dividend has been declared and notification has been received of
the dividend due.
Expenditure
All expenditure is recognised once there is a legal or conslructive obligation to that expenditure, it is
probable settlement is required and the amount can be measured reliably. All costs are allocated lo
the applicable expendilure heading thal aggregate similar costs lo that category. Where c05ts cannot
be directly attributed to particular headings they have been allocated on a basis consistent with the
use of resources, with central staff costs allocated on the basis of time spent, and depreciation
charges allocated on the portion of the asset's use. Other support costs are allocated based on the
spread of staff costs.
Raising funds
These are costs incurred in attracting voluntary income, the management of investments and those
incurred in trading activities that raise funds.
Charitable actlvltles
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities
and services for its beneficiaries. 11 includes both costs that can be allocated directly lo such activities
and those costs of an indirect nature necessary to support them.
Page 16

Age UK Exeter
Notes to the Financial Statements for the Year Ended 31 March 2024
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010
and therefore it meets the definition of a charitable company for UK corporation tax purposes.
Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains
received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section
256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are
applied exclusively lo charilable purposes.
Tangible fixed assets
Individual fixed assets costing £100 or more are initially recorded at cosl, less any subsequent
accumulated depreciation and subsequent accumulated impairment losses.
Depreciation and amortlsatlon
Depreciation is provided on tangible fixed assels so as to wrrte off the cost or valuation, less any
estimated residual value. over their expected useful economic life as follows:
Asset class
Short leasehold property
Fixiures and fittings
Motor vehicles
Office equipment
Depreclatlon method and rate
Straight line - over the life of the lease
20•￿ straight line
250/0 Straight line
25°/o Straight line
There is no charge for depreciation in respect of the Freehold Property. as the residual value is
expected to be at least equal to cost.
Flxed asset investments
Fixed asset investments. other than programme related investments, are included at market value at
the balance sheet date. Realised gains and losses on investments are calculated as the difference
between sales proceeds and their market value at the start of the year, or their subsequent cost, and
are charged or credited to the Statement of Financial Activities in the period of disposal.
Unrealised gains and losses represent the movement in market values during the year and are
credited or charged to the Statement of Financial Activities based on the market value at the year end.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and olher short-term highly
liquid investments that are readily convertible to a known amount of cash and are subject to an
insignificant risk of change in value.
Page 17

Age UK Exeter
Notes to the Financial Ststements for the Year Ended 31 March 2024
Borrowings
Inleresl-bearing borrowings are initially recorded at fair value, net of transaction costs.
Inleresl-bearing borrowings are subsequently carried at amortised cost, with the difference between
the. proceeds. nel of transaction costs. and the amount due on redemption being recognised as a
charge to the Statement of Financial Activities over the period of the relevant borrowing
Interest expense is recognised on the basis of the effective interest method and is included in interest
payable and similar charges.
Borrowing5 are classified as current liabilities unless the charrty has an unconditional right to defer
settlement of the liability for at leasl twelve months after the reporting dale.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in
furtherance of Ihe objectives of the charity.
Designated funds are unrestricted funds set aside for specific purposes at the discretion of the
trustees.
Restricted income funds are those donated lor use in a particular area or for specific purposes, the
use of which is restricted to that area or purpose.
Flnancial instruments
Classification
Financial assets and financial liabilities are recognised when the charity becomes a party to the
contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according lo the substance of the contractual
arrangements entered into. An equity instrument is any contract that evidences a residual interest in
the assets of the charity after deducting all of its liabilities.
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price {including transactron
costs), except for those financial assets classified as al fair value through profil or loss, which are
initially measured at fair value (which is normally the transaction price excluding transaction costs),
unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing
transaction, the financial asset or financial liability is measured at the presenl value of the future
payments discounted at a market rate of interest for a similar debt instrument_
Financial assets and liabilities are only offset in the statement of financial position when, and only
when there exists a legally enforceable right to set off the recognised amounts and the charily intends
either to settle on a net basis, or to realise the assel and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows
from the financial asset expire or are settled, b) the charity transfers lo another party substantially all
of the risks and rewards of ownership of the financial asset, or c) the charity, despite having ￿taIned
some, but not all, significant risks and rewards of ownership, has transferred control of the asset to
another party.
Page18

Age UK Exeter
Notes to the Financial Statements for the Year Ended 31 March 2024
Financial liabilities are derecognised only when the obligation specified in the contract is discharged,
cancelled or expires.
Debt Instruments
Debt instruments which meet the following conditions are subsequently measured at amortised cost
using the effective inleresl method-.
(al The contractual return to the holder is (i) a fixed amount,. (li) a posilive fixed rate or a positive
variable rate.. or {iii) a combination of a positive or a negative fixed rate and a positive variable rate.
(b) The contract may provide for repayments of the principal or the return to the holder (bul not both)
to be linked to a single relevant observable index of general price inflation of the currency in which the
debt instrument is denominated, provided Such links are not leveraged.
(c) The contract may provide for a determinable variation of the relum to the holder during the life of
the instrument, provided that (il the new rate satisfies condition {a) and the variation is not conlingenl
on future events other than (1) a change of a contractual variable rate; (2) to protect the holder
against credit deterioration of the issuer,. 13) changes in levies applied by a central bank or arising
from changes in relevant laxalion or law,. or lil) the new rate is a market rate of interest and satisfies
condition (a).
(d) There is no contractual provision that could. by its terms, result in the holder losing the principal
amount or any interest attributable lo the curreni period or prior periods.
(e) Contractual provisions that permit the issuer to prepay a debt instrument or permit the holder to
put it back lo the issuer before maturity are not contingent on future events, other than to protect the
holder against the credit delerioralion of the issuer or a change in control of the issuer, or lo protect
the holder or issuer against changes in levies applied by a central bank or arising from changes in
relevant taxation or law.
(Q Contractual provisions may permit Ihe extension of the term of the debt instrument, provided that
the return to the holder and any other contractual provisions applicable during the extended term
satisfy the conditions of paragraphs (a) lo (c).
Debt instruments that are classified as payable or receivable within one year on initial recognition and
which meet Ihe above conditions are measured al the undiscounted amount of the cash or other
consideration expected to be paid or received. net of impairmenl.
With the exception of some hedging instruments, other debt instruments not meeting these conditions
are measured at fair value Ihrough profil or loss.
Commitments to make and receive loans which meet the conditions mentioned above are measured
at cost (which may be nil) less impaimienl.
Page 19

Age UK Exeter
Notes to the Financial Statements for the Year Ended 31 March 2024
Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares
(where shares are publicly traded or their fair value is reliably measurable) are measured at fair value
through profil or loss. Where fair value cannot be measured reliably, investments are measureé at
cost less impairment.
Investments in subsidiaries and associates are measured at cost less impaimient. For investmenls in
subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost
is measured by reference to the nominal value of the shares issued plus fair value of other
consideration. Any premium is ignored.
3 Income from donatlons and legacles
Unrestricted
funds
General
Restricted
funds
Total
2024
Donations & Legacies
Donations
Legacies
28,658
116,452
28,658
116,452
Grants
Grants
4,662
36,500
41,162
Subscriptions
Memberships
1,671
1.671
151.443
36,500
187,943
Unrestricted
funds
General
Restricled
funds
Total
2023
Donations & Legacles
Donations
Legacies
13.507
94,207
5,228
18,735
94,207
Grants
Grants
33,446
89,923
123,369
Stsbscriptlons
Memberships
1.223
1,223
237.534
142,383
95,151
Page 20

Age UK Exeter
Notes to the Financial Statements for the Year Ended 31 March 2024
4 Income from charitable activitles
Unrestrlcted
funds
General
Restricted
funds
Total
2024
Day opportunities
Community support services
Advice, information and advocacy
99,201
414,648
737
99.201
463.986
51.458
49,338
50.721
514,586
100,059
614.645
Unrestricted
funds
General
Restricted
funds
Total
2023
Day opportunities
Community support services
Advice, information and advocacy
69,369
391,243
48,193
69,369
401,986
49,193
10,743
1.000
508,805
11,743
520.548
S Income from other tradlng activities
Unrestrlcted
funds
General
Total
2024
Fundraising events
12,492
12.492
12.492
12.492
Unrestricted
funds
General
Total
2023
Fundraising events
25.519
25.519
25.519
25.519
Page 21

Age UK Exeter
Notes to the Financial Statements for the Year Ended 31 March 2024
6 Investrnent Income
Unrestricted
funds
General
Total
2024
Bank interest received
Income from listed investments
3,655
1,910
5,565
3,655
1,910
5,565
Unrestricted
funds
General
Total
2023
Bank interest. received
Income from listed investments
1,555
2,230
1,555
2,230
3,785
3,785
7 Expendlture on charltable activitles
Unrestricted
funds
General
Restricted
funds
Total
2024
Note
Day opportunities
Community support services
Advice, information and advocacy
Support costs
31,667
368,313
12.227
288,925
701,132
44,756
58,155
46,828
76.423
426,468
59,055
288,925
149,739
850,871
Unreslricted
funds
General
Restricled
funds
Total
2023
Nott
Day opportunities
Community support services
Advice, information and advocacy
Support costs
24,243
358,779
46,428
258.036
54.639
15,278
11,429
4.825
78,882
374,057
57,857
262,861
687,486
86,171
773 657
Page 22

Age UK Exeter
Notes to the Financial Statements for the Year Ended 31 March 2024
8 Analysls of support costs
Advice,
Community infomiation
support
aniGovernance
services advocacy
costs
Day
opportunilies
2024
2023
Staff costs
Premises
Finance cosls
Expenses
Operating Costs
Central costs
Maintenance
Training
Depreciation
11,201
13,418
25
145
986
3.024
12.145
260
1.070
162,087
3.531
137
813
5,519
16,932
2,341
1,456
6.366
22,368
360
19
112
762
2,337
407
201
879
17,746
213,402
17,309
2,459
1,070
7.267
22,293
14,893
1.917
8,315
180,155
19,568
5,287
1,047
1,533
26,056
21,253
505
7,457
2,278
42.274
199.182
27,445
20,024
288,925
262,861
9 Net Incorningloutgoing resources
Net outgoing resources for the year include..
2024
2023
Depreciation of fixed assels
8,315
9,920
10 Tfustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity
during the year12023.' Nill.
During the year no trustees received any benefits in kind (2023.. £Nil). no Irustees received
reimbursements of expenses (2023.. £20).
11 Staff costs
The aggregate payroll costs were as follows..
2024
2023
Staff costs during the year were".
Wages and salaries
Social security costs
Pension costs
664,328
32,404
27,160
723.892
S79.842
28.698
22,182
630.722
Page 23

Age UK Exeter
Notes to the Financial Statements for the Year Ended 31 March 2024
The monthly average number of persons (including senior management I leadership team) employed
by the charity during the year expressed as full time equivalents was as follows..
2024
2023
No
22
Number of staff
22
No employee received emoluments of more than £60,000 during the year (2023.. Nil).
The total employee benefits of the key management personnel of the charity were £59,933 (2023
£57,248).
12 Independent examlner's remuneratlon
2024
2023
Fees payable to the independent examiner for..
Independent examination of the financial statements
Other financial services
2,150
2,000
1,610
2,150
3.610
13 Tangible fixed assets
Freehold
property
Fixtures and
fittings
Motor
vehicles
Office
equipment
Total
Cost
At 1 April 2023
Additions
702,445
11,641
4.662
8.637
34,204
756.927
4,662
At 31 March 2024
702.445
16,303
8,637
34,204
761,589
Depreciation
At 1 April 2023
Charge for the
year
5.794
8,637
27,705
42.136
2,654
5.661
8,315
At 31 March 2024
8,448
8.637
33,366
50,451
Nel book value
At 31 March 2024
702,445
7,855
838
711,138
At 31 March 2023
702,445
5,847
6,499
714,791
Page 24

Age UK Exeter
Notes to the Financial Ststements for the Year Ended 31 March 2024
14 Fixed asset investments
Listed
investments
Total
Cost or Valuation
At 1 April 2023
Revaluation
Additions
Oisposals
156,489
5,806
1,910
50.888)
156.489
5,806
1.910
(50,888
At 31 March 2024
113,317
113,317
Net book value
Al 31 March 2024
113.317
113.317
At 31 March 2023
156.489
156.489
Investments are held at fair value which has been provided by the investment managers, Hawksmoor
Investment Management.
Historical cost of the investments is £95,975.
1 S Oebtors
2024
2023
Trade debtors
Prepayments
Other debtors
78,096
5.545
72,060
64.088
3,318
1,000
155.701
68.406
16 Credltors: amounts falling due within one year
2024
2023
Trade creditors
Social investment loan
Other taxation and social security
Olher creditors
Accruals
157
100,000
7,069
4,208
21,045
6,495
3,955
7.479
132.479
27,644
Page 25

Age UK Exeter
Notes to the Financial Statements for the Year Ended 31 March 2024
17 Cr.editors: amounts falling due after one year
2024
2023
Social investment loan
100,000
18 Penslon and other schemes
Defined contribution pension scheme
The. charity operates a defined contribution pension scheme. The pension cost charge for the year
represents contributions payable by the charity to the scheme and amounted to £27,161 12023
£22,182).
19 Funds
Other
gains 31 March
Illosses)
2024
1 April Incoming Resources
2023 resources expended Transfers
Unrestricted funds
General
General Funds
276,475
684,086 (722,920) {179,799)
5,806
63,648
Designated
Fixed Assels
620,201
179,799
800,000
Total unrestricted
funds
896.676
684.088
722,920
5,806
863,648
Restricted funds
Dementia Carer
Support
Hardship and Amenity
InformationlAdvice
Wellbeing Exeter
Cost of living crisis
fund
Handyperson fund
Hospital to Home
11.833
1,608
9,000
550
4.000
48.788
(17,833)
(200)
(4.000)
(48,788}
3,000
1,958
6.923
1,667
20,000
7,500
46,721
(26.923)
(9,167)
42.828
3.893
22,031
8.851
Total funds
918.707
820.645 {872,659
5,806
872,499
Page 26

Age UK Exeter
Notes to the Financial Statements for the Year Ended 31 March 2024
Other
gains 31 March
Illosses}
2023
1 April Incoming Resources
2022 resources expended Transfers
Unrestricted funds
General
General Funds
298,736
680,492 1702.689)
8.243
(8,3071
276,475
Designated
Fixed Assets
620,201
620,201
Total unrestricted
funds
918,937
680,492
702,689
8,307
8,243 ￿. 896.676
Restricted funds
Capital Projects
Dementia Carer
Support
Hardship and Amenity
InformationlAdvice
Men in Sheds
Social Support
Wellbeing Exeter
Community Activities
Cost of living crisis
fund
Handyperson fund
5,752
2,491
(8.243)
3,333
1,263
28,184
540
11,429
28,331
3,020
12.603
5,236
{19,6841
{195}
<11.4291
{28.3311
(3,853)
{12,6031
(5.236)
11.833
.1.608
833
10,000
(3,077)
3.393)
87,801
6.923
1.667
11,181
106,894
8.243
22,031
Total funds
930,118
787,386
790.490
8.307
918.707
Page 27

Age UK Exeter
Notes to the Flnanclal Ststements for the Year Ended 31 March 2024
The specific purposes for which the funds are to be applied are as follows..
Dementia Carer is funding towards the purpose of providing support to people living with dementia
and their carers.
Hardship and Amenity is funding towards the purpose of providing financial support for clients who are
not able lo support their own care needs.
InformalionlAdvice is funding towards the purpose of offering confidenlial information and advice
appointment services.
Men in Sheds is funding towards the purpose of providing a safe haven for men in Exeter and allow
for the refurbishment of tools and equipment.
Social Support is funding towards the purpose of providing social support to patients in Exeter.
Wellbeing Exeter is funding towards the purpose of increasing community activities and involvement
in Exeter.
Community Activities is funding towards the purpose of providing multiple activities such as craft
groups, lunch clubs, exercise clubs and singing events in Exeler.
Cost of living crisis fund is funding towards the purpose of providing additional support for the charity
in relation lo increases in cost of living.
Handyperson fund is funding towards the purpose of providing handyperson services around the
home.
Hospital to Home is funding towards the purpose of supporting patients and families to ensure
suitable care is in place when reluming home from hospital.
Page 28

Age UK Exeter
Notes to the Financial Statements for the Year Ended 31 March 2024
20 Analysis of net assets between funds
Total funds
at 31 March
2024
Unrestricted funds
General
Designaled
Restricted
funds
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
90,937
113,317
171,672
132.479
620,201
711,138
113,317
180,523
132,479
8,851
Total net assets
243,447
620.201
8,851
872,499
Total funds
at 31 March
2023
Unrestricted funds
General
Designated
Restricted
funds
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Creditors over 1 year
Total net assets
94,590
156,489
153,040
(27,644)
100.000
620,201
714,791
156,489
175,071
(27,644)
100.000
22,031
276,475
620.201
22,031
918,707
21 Related party transactions
Trustees made unconditional donations to the Charily during the year, totalling £4,550 {2023 £450).
Page 29