Company reglstratlon number: 027734S3 Charlty r8&i8tration nLrnber. lo1)18 Age UK Devon (A company Ilrnlted by guarant80) Annual Report and Flnanclal Statements far Ihe Year Ended 31 March 2024 WESTCOTTS CHAP7eiD AceovNTANYI • OV4114el ADVIIEII•
Age UK Dèvon Contents Reference and Administrative Details Twstees, Report 2to11 Independent Examinerfs Report 12 St8t8m8nt of Flnanclal A¢tlvltles 13 Balance Sheet 14 ststement ot Ca8h Flows 15 Notes to the Flnan¢lal Statements 16to33
Age UK Dèvon Reference and Admlnlstratlve D•tails Trust8 Mr R Austln Mrs K Smith Mrs J Kpllng Mr8 L Onyett Mrs H Aldi$ Mr M Ellls Mrs S Llttlewood So¢r•tary Charlty R•gl*tr•tlon Numb•r 1019018 Company Rogl8trAtlon Number 02T13453 R•gl8t•r•d Offlc• Unlt 1 M8naton Court Matford Buslness Park Exeter Devon EX2 8PF W8Stcotts (SW} LLP Pl House 3 Longbddge Road Plymouth Devon PL6 8LT Ind•p•ndont Examin•r Page 1
Age UK Devon Trustees. Report The tntstees. vtho are directors for the purposes of Company law, present the annual report together with the ffinanclal statèments of the charttable company for the year ended 31 Marth 2024. ObJ•ctlv•s and actlvlti•s Public beneflt The tNst8es confim that they have complied with th8 t8quirements of section 17 of the CharStles Act 2011 to have due regard to Ihe public benefil guidance publlshed by Ihe Gharlty Commisslon for England and Wales. MISSION, ACTIVITIES AND PURPOSE Overvl•w Age UK Devon was formed in January 1950. We are a Reglstered Charity {No. 1019018) and Conwany Llmited by Guarantee (No. 02773453); our regi8ter8d office is Unit 1, Manaton Court, Matford Bustnes5 Park, Exeter. Devon, EX2 8PF. We operate across flve of the elght districts of Devon (North, West, EasL Mid, Telgnbrldga and South Hams) 1¢h has a combined population of 305,529 people aged 50 and over. The chartty hes a workforce of 32 staff (14.05 FTES 8nd 13 zero-hour staff) and 45 volunteers. A locally 8lected Board of six Trustees and the charity8 managers. staff and volunt88rs work closely together to 8chlev8 our mlssion. Our achievement of the Age UK Charlty Quallty Standard recognl8e8 the high standard of our perfomiance as an organlsatbn. It certifies that our organlsatlon Is Y11 govem8d and managed: ha6 a clear dlrectlon and slrategy: and 18 commltted to ensurlng the well-being and safety of dder people. our staff and volunteers. W8 also hold the Age UK Quah'ty Advlce Standard (QAS) and Advlca Quallty Standard (AQS). Age UK Devon18 Part of the Age UK neiwork whlch Indudas Age Scotland, Age Cymru and A99 Nl and more than 125 local Age UKS throughout England. Ml88ion Our mlsslon Is to Improve the Ilve8 of older 0p16 In Devon. ision Our vlslon Is that Devon18 a county In bthlch everyone can love later Ilfe. We alm to Improve the Ilves of older people In Devon, deliverlng servlces to provld8 8UPPOrt and èncourage empowerment to Improve lives and eriable Iryjependence and wellbeing. Valuos Our values underpin how wo vH)rk arKI help us achleve our ml&sion. We support older people in Devon to tske positive action to Improve their liveg. independen¢e and wellbelng. We provlde clear expert quality assured infomation, advice and support to help older people make informed chokes aboLrt their lives. We embrace th8 diversity of our clients, staff and voluntewd: and we Ilsten to and value all ¢ontributlons. Page 2
Age UK Devon Trustees. Report We promote and enable active and fulfilling later lives. We &nurage mè8nlngful so¢lal ¢onnectlons to tack18 loneliness and Isolatlon. Our Focus To respond to Devon's growlng agelng populatlon and meet our mlsslon we: Employ skilled and experienced staff. Ensur8 the wellb8lng and resilience of our workforce. Maintaln a positlve. supportlve and Incluslve organlsauonal culture. Use our exp8rtiS8 and experlence to rai8e awarene85 of the need$ of older P$3ople and Influenc8 wider servlce dellv8ry. Increase effi¢bn¢y and perfomiance using systems and technology. Implement a thrae-year marketing plan which focuses on increasing brand awareness, promotSng new services and actlvilies, attracting now clients end partner organisations to Collaborate with. Increase and Improve buslness parinershlps. Dellver outstandlng customer service. Promote existing s8Nic8s lo reach more older people. Introdu¢e n8W S8NIce8 and actlvltles (frea and chargèable) In support of the alms of our vlslon and values. Increase revenue through charg8abl8 serrfic88, donations, grants and ujntracts to reduce our reliance on legacy income. Thls enables us to use unre8tricted r88erv88 to expand 8xlgtlng servlces and develop new servlces. Manage reserves to provlde financlal sLqbllFty and th8 mèan8 to m88t our charitsbl8 objectives for th8 foT&se8able futura. Use r8serves to dellver 8ervices and secure new appropriate premlses for the organlsation. Delennlne unmet demand In Mld Devon. North Devon. South Hams and W8St Devon to Inform exPs4on Into new geographiG areas. Our Stratogy Our 2024-27 Str8t8glc Plan sets out a clear dlrectlon for Age UK Devon for the nexi three years, ensuring that we r8maln ag18 and r8slllent responding to the changing and challenging 8xlemal envSronment. Its dèvelopment was Informed by our knovAedge and expartlse. prevlous actlvltS88 and achievement8. v18ws and feedback from older people and key stakeholders, our financial position, and dlscussions at a Strategy Rgview Day in 2023. Each year of our Strateglc Plan Is underplnned by an 8nnual buslness plan Incluslve of KPI8 and targets and a supporting budgét. Performance against targets Is monltored by th8 Finance and Strategy Committees every quarter, wth fjndlngs and recomm8ndatlons made to each Board Meellng. Every Iwelve months the Board af Trustees revlew the annual buslness plan and budget and consider overall performance and progress on the delivery of th8 obJectlves and targets in the Strategic Plan as a whoi8. Page 3
Age UK Devon Trustees. Report Structure, Govornanco and Management We ensure that the needs of older peopl8 and thè b8St Interests of the organisatlon are reflected In the makeup of our Trustee board and therefor8 Trust68s are recruited with approprlate skills knowl8dg8 and expertlse. An annual skills audlt Identifies and infomis future Trustee recruitment. Trust88s are elected for two years and ar8 81igible for re-el6dlon thereafter in accordance with the Memorandum and Articles of Association. Newly ruIted Trustses receive a Trustee Induction which includes our Governing documents. thg Straleglc Plan and sUPPOrting documents {annu81 BusSness Plan and budget). most recent manag8ment accounts. récent minutes from Board and Committ88 meetings and relevent policies and procedures. Th8 induction proc8s8 Includes a lour of the organisation, Introductions to our staff and volunteers, and meetlngs wlth our 60nlor management team. As of 31 March 2024, the board had SSX members from 8 varlety of backgrounds Includlng law. govemance, human resource8, marketlng and communications. policy and strategic developmenvpartnorshlp W01n9. Our Board of Trustees meet quarterty and are reBponslble for the straleglc dlrection and overall management of Age UK Devon. They 95ve Ihelr tlme freely and no Trusteo received r¢muneration In the year. Trustees have overall control of the Charity and its propety and funds, To facilitate effectsvg operations. th8 Ch18f Executlva has delegaled authorlty for all day-to-day operatlons of the Ch8rily. as outllned wlthin the S¢hem8 of Delégalion as approved by Trustees. The Chief Executive is 5UPPOrted by a senlor management team comprislng of the Finance Manager, Advice & Wellbeing Manager, Active In Later Life Manager. and Independence at Home Manager. The Finance Manager has delegated authority for financial management whi13t the service managers hav8 delegated authorlty for the day-to4ay responsibility for their individual servlces, systems, staff and volunteeffs. Flnanclal Management Our Financlal Management & Accounting Procedure provlde5 Truste85 and Senior Manag8r8 with guldance on how to manage the charitys financès including maklng the b6$1 us8 of our r8S8rvès and Investment opportunllles. During the year. we were fortunata to rec8lv8 legacy Income whlch Increased our overall reseNe levels which will provide adequate financial stability and the means to meet our ch8rttable objgclives for the forese6abl8 futuro, They Ar8 a source of fijnds to cover sltuations such as spendlng commltrnents, contlnuatlon of unfund8d ser¥lces, gaps In fijndlng, anticipated loss of Income or uninsured loss, unplann8d closure of services and activitias, potsntial liabllities atc. During the remaining term of our Strategic Plan 2024-27, w8 plan to allocate reserves to support the dellvery of our Advlca & Wellbeing servlces, expand our cornmunity activltles, develop new $8Thlces and 8Ctivitses, purchase spaclallst fundralslng expertlse and reviw our offlce accommodatton requirements. During 2024-25 we plan to work wlth fundra15ing consultants lo generate income to replenish funds Spent and enable growth of charftabl8 services and actlvitles In Ilne with our Strategic Plan. The Board of Trustees have the power to invest the Charity's assets, if there are resources over and above those required to deliver current and fvture cl)jeiveS effectively. Prior to making any investment de¢i$ion$. Trustges obtsir) and consider extemal sp8cialist advic8 to ensure the right balance belween generating an Sncome and maintaining and. if possible. 8nhancing the vue of the invested funds, Pag8 4
Ag8 UK Dévon Trustees. Report K•y Risk$ Our Rlsk Management pollcy provldes guidance regardlng the management of rlsk to support th8 achievem8nt of our strategiG objectiV8S, to protect our staff and volunteers army ensure finandal stabilty- Robust intemal proc6ss&s enabla our Board of Truste68 to make approprlate proactlv8 and pragmatlc decl8lon8 to maxlmlse opportunltles and polentlal and mitigate against adverÉe outcom88. Our 8YJtematlc approach to risk management Identlfles slgnificanl exisiing and potenllal new risks classified into six areas {Govemance. Operational, Financial External, Compliance with law and regulation and Reputatii>n). Each Identified risk Is accessed to determlne the Ilkellhood of Ils occurrence 8nd the severlty of Its Impad, uslng a 3x3 risk matrix based on 'Low', 'Medium' and Hlgh measurements. Low has a score of 1, medlum has a score of 2 and high has a score of 3. The combined score of likelihood and Impact determines th8 frequency that the ri8k 18 reviewed. When approprfate. extemal legal and financial advlce wlll be obt81ned and consldered. IMPACT Actlve In Later Llfe Our range of Communlty actlvlll8s for older people included exercise dasses and genue sport activilles {e.g., se8t8d exerclse. walklng groups, walking ft)otball, sea swimming. Surf tuition), Coffee moming5, raminiscence clubs, cognitlve stlmulatlon therapy sesslons, knitting sessions and outdoor activity gfOUPS. These activities promoted and enabled active and fulfilling lives as th8y created meaningful social connections which t8d<led lonellness and Isolatlon. Our Digital Champlon Programmè, fijnded by Ag8 UK untll December 2023, offer8d free one-tO&on8 and group sessions in community s8ttings, provkllng tailored support for older people to build their confidencè and skills when using digital technology. During the year w8: Delivered 482 cornmunlty activ5ty sesslons wlth an average attendance of 10 older people per session. Provided one•tOwone dSgllal support to 291 older people. Delivered 91 dlgital drop-ln $8ssion$, from December to March, wlth an averagè attendance of S older people per sesslon. Paid for our new Active in Later Lifè Coordinalor to complete Level 3 Award in Educatlon and Training, so she could dellver our Seated Exerclse training which enables participanls to deliver chalr-based exercisas for groups of older people who have cc¥npromlsed mobllty. Used restrlcled reserves (Cella Ollershaw Trust) to support the dellvery of waekly Walklng Football sessions and a Social Café in Dawllsh. Used restricted grant funding from the Norman Family Charltable Trust and Age UK to dellver community activities and our Digital Champion Programme. Used unrestrided SerVeS to support the continuation of our Digital Champlon Programme fTom December 2023 onwards. when grant funding ended. "Jusl a quick one to say that the Swim to the Sea coursa was brflllant. I have a way to go SUII wlth fny breathing but am arnazed that I managed neaty a km thi8 momlng and am so pleased that everyone man8gad around th8 plar. 111 definlt81y ahn to do if Bgain next y8ar rf I can. Thank you so much to 8veryon8 Involved, Ie leamt so much desplte mlsslng a f8W Weeks." Swim to the Sea partiGip8nt Page 5
Age UK Devon Trustees. Report AdviGe & W•llbeing Our InfrnatiOn & Advice service delivered free, impartial. and confidenlial advice on welfare benefits, health and social care matters, housing issues and provided details of local seNlces and acllvltles to older people their familles, and carerts. Our Better Later Llves service, funded by Age UK, supported people over pension age who had experlenced a significant life change and needed support to get things back on track. Th• provlslon of clear expart quallty assured Informatlon. advlce and support through Ihese sep4l¢e$ helped older peopla to make informed cholces about their Ilves. Dltrfng the year we,. Dealt with over 11, 000 Infomiatlon and 8dvlce Inleractlons for our cliants via telephone, emall or In person. Helped older peopl8 Identlfy and apply for over £2.25 mllllon of unclalmed beneflts. Dlstrlbuled 53 c05t of15vlng grants of £10200, 10 £100 shopping vouchers and 9 small Ilnanclal grants to support purchaslng esséntlal household Items: all feaslb18 thanks to a financlal donation fM our anonymous donor. Launched our Scams Preventlon Programme, funded by Age UK, whlch wlll run unlil January 2026, Used £11.275 of our unrestricted reserves (K.Hodgson legacy) to support d8llvery ol our s8r4ices, over and above the costs supported by grant funding. Used our restricted reserves (Age UK Mid Devon funds} to support the expansion of information and advlce into Mid Devon. . Attended Devon County Councll's Equality Reference Group to represent the voic88 of older people In Devon, brlnglng an Ind8p8ndent voice on 8ny proposed changes to policy. stralegy or service delivery in Devon. Oldor Peoplo's Engagement Sleer5ng Group to Ongage wlth r818vant lo1 h881th and 8oclal carg commissioners. From listéning to older people, w8 report on key tr8nds and feedback regardlng tha Local Authotltles, Adult Soclal Care provlslon. Jolnt Engagement Forum {JEF) to represent the VOrS of older people in Devon, sharing engagement activities to help make Ilnks and share insights between change projocts which infomis Ihe inpul Ihe JEF representative makes at each Health and Wellbeing Btjard meetlng. "Just 8 qukk note and thank you loryour recent support to me In ¢ompletlng my mofh&rfs att8nd8nc8 811owanGe claim form. Credit should be given to Steph, the volunte8r, who so klndly 8SSlSted me. Th8 claim was accepted gnd wlll ¢ontrlbut8 to more Gare lor dear nrn. Thank you, Steph, for your kindness andprofessionalism." Information & Advice client Indoponden¢g at Home Our chargeable Enabling & Home Support service delivered personalised support to help clients slay independent in th8ir own home. Help included cleaning and housework, shopping (escorted and non*scorted). ¢ornpanlonshlp, plannlng and preparation of light meals, support with atter¥Jing appointrnenls, organislng household paperwork and regular re5Plte for Garer5. Page 6
Age UK Devon Trustees. Report Our chargeable Foot Care service provided home visits conducted by four qualified Foot Care Pradltloners to tak8 care of nails ar check the overall health of feet. Th8 provlslon of th8S8 servlces helped improve our dlènts, Ilv68, Ind8penden¢e and YlIbeIng. Durlng the y8ar w8: Delivered 4,697 hours of Enabllng & Hom8 Support. . Saw lh6 vdume of Foot Care clients Increase from 90 (in April 2023) to 260 by the end of the year. Cornpleted 986 Foot Care appolntments In cllenl's homes. almosl double compared to the previous year. . Trlalled a Foot Care Cllnlc, dellvered from our offlce In March 2024, whlch elght cllents attended. Used £9,203 of restrfcted reserves {K.Hodgson legacy) to Support tha dellvery of Enabllng & Home Support to ensure our charges could be kept at an affordable rate for our cllents. "I would Just Ilke to say huw actually thnlled and happy both mom and l are with your seNlce. Mum has become very used to her weekly vlslts and really looks forward to Song her Home Support Asslst4nt. Please could you Gonvey my thanks 8nd 8ppfeGialion. It Is also such 8 comfort for m8 belng so far 8way. Well done. l am dglighted with 811 that you do very Many thanks ftlr overything." Daughter of Enabling & Home Support cli&nt Mrs P's story Mrs P got in touch with us after confiding in a friend that she and her husband yre living on a very low income and struggling to manage bills and pay for neces85lles."I don't know why I said it. the words Just Cama out of my mouth, but I said that I didn't know 11 I could afford to put tho heatlng on. It was a worry as we have got to koop the house wami for Mlke as he was pretty 111 last year." The frlend knew a famlly member who had had support from Age UK Devon so suggested gettlng in touch. Mr and Mrs P both had m8élcal condltlon8 that meant that they looked after each other and dally life was a struggle. Mrs P sald that. when she retired, she was told she was not 8ntltled to a British retiremenl pension, whlch made sènsè to her as she had generally worked part tlma or béen In Australia. They were living off her husband's State Pension 8nd Pension Credlt and whilst they had a small amount of savings, Ihis was dwindllng fast and heating thelr home was of a particular concern. Her husband had enquired from the DWP whelher he was entiued to anyihlng from Australia but says he had been told he would have to find that out for himself. which he did nol know how to do. Mr and Mr5 P were visited at home, during which successful applicatlons were made for Attendance AIIow8n¢e due to thair care needs. A beneflt check established that although Mr P was reGelvlng Pension Credit, Mrs P had not been induded in the award. so he was receiving the amount for a single person. Advisors also established that Mrs P should hav8 entitlement to a pension in her (wi righl. As the couple were struggling to manage, they were provided with a £100 cost of living shopping voucher at Ihis visit. Page 7
Age UK Devon Trustees. Report During the visit, il was idèntified that Mr P, who is profoundly deaf. was having tmuble acSsIng subtitles on his television and Shèlla was having difficulty with her tablet, Advisors made a raferral to our Digital Champion5 team. with the result th81 Mr P now has subtitles on the Thl in their bedroom and Mrs P has a working tsblet. Claiming Mrs P's retirement pension proved to be challengin9, and advisors sought support from the AUK escalation pilot (no longer in existence}. Finally. the pension including a substantlal lump sum was paid to her. Mr P was assisted to claim a pension from his time in Auslralia, "Thing5 are much better now. I can go out now and look at thlng5 and knaw that I can buy them If I want thom. You feel a lot happler when you know that. It has changod gur lives a bit. you feel socure" Outcom8S'. Substsntially Increased incorn8 due to Slate pension. Australian penslon, dlsabillty benefits for both and a correct Pension Ciedit award. Increased incom8 all8V18t8d the couple's worry, mada life more comfortable and Incr8as8d thelr wellbelng. Backdated amounts allowed home improvements including replacement of back door and worn carpels. Referral lo sensory team for support with he8ring10ss for Mr P. Dlgital Champions helped the couple access technology. Clients, joint income was increased from approximately £210 8 week lo approximately £708 a week. An increase of £25k a year, and a similar 8mounl in arrears. Mfrasurlng Impact We use our customer relationship managemènt system. Salesforce, to record key client data {contact details. age, gender, ethnicity, local authority area>. our interactions with Ihem e.g. what support and services hav8 bèen provided and any outcomes from our interactions e.g. b8nefit entitlement achleved. Our staff and volunteers collect comments. compllments and feedback from older people and organisallons we collaborale with. We use this feedback to continually review and improve our services and respond to new local need when dgveloping new service$ and activities. FUTURE PLANS Our plans for 2024125 In¢lude: Cor• Develop a PR and marketing stralegy Io 88sSst with brand awareness, educallon, securing donations. reaching a wider audience and establishing us as the 'go to, organisation lo respond to media enquiri8s regarding issues 8ffectSng older people. Page 8
Age UK Devon Trustees. Report wa wlth Marsha Miles Consultancy to secure grant Income that supports the gTOWth of exlsllng and new services. Plan celebratory events for our 75th year (January 2025) to rais8 our organisational profile and generate unrestricted Income. Review the performance of Ihe Hawksmoor Investment Portrollo and Cascade Platform every quarter. to ensur8 our r8serv8s are placed in the most effectSve accounts. optimlsing th8 b8St Interest available wtth the need for operational fvnds. Dollver annual event for staff and volunteer8 to Incrèase nehvorking opportunltles. r8lse organlsatlonal awareness and delSver core tralning. Set out and agree our offlce requlremants b8yond the temi of our current office lease {July 2026) wlth a vlew to 5ecurlng office premlses us5ng unrestricted reserves, or capltal grant funding. Maintain Trusteg recrultrnent ensuring that the number of Trustegs 1$ maintalned befvleen four and seven. Collaborate wlth other Age UK Brand Partners. our 'Friends' and other sultable partner organisations 8.g., Local Authorltl8s and N4S Io.. Enable older people to have a say and influence our 8ervic8 development. Dellver Jolnt service8 and activities. Reduce costs where posslble. Identlfy potendal opportunllles to grow through mergers and acqulsitions. Worf( with NHS Devon to Shape and Influence plans for older people servlcès Includlng lh8 davelopment of a Davon Dementia Strats9y. Actlve In Later Llf8 Revlew the structure and capacbty of the Advice in L8t8r Lrfe workforce. Malntain 6$tng communlty actlv6t188. 8nsurlng that they cantinue to be attended by the requlred numbers of older pecple and are flnanclally sustalnable. Introduc• now communlty acllvlues, ensurlng that they ar• ftnanclally 8ustsinable by month 13. DelSver Dlgltal Champlon Drop.In sesslons achieving a mlnlmum of 1,964 attendances. Delfver 1-2-1 Dlgltal Champlon $888lons to 312 older people. Generate unrestrlctsd Income through the delivery of charge8bl8 training (Seated Exercise, Demeniia, Falls Prevenlion. MCST and Menopause). Dellver the Exmouth Santa Run to ralse the organlsatlonal proflle and generate unrestrlcted incom8. Page 9
Age UK Devon Trustees. Report Advlea & Wollbeing . Review the structure of th8 Advic8 & Wellbeing workforcé. Deliver our Information & Advica service, adhering to the requlrements of the Age UK QalIty Advlce Standards (QAS). . Renew Quality of Advice Standard IQAS) and AQS certlflcates whlch both explre on 4 March 2025. Dellver our Better Later Lives 8ervice, adhering to the KPIS as detailed withln the Grant Agreement. Deliver the Age UK Scams Awar8n8ss Programm8, adherlng lo the KPIS as detailed wilhin the Grant AgreeTnent, Dlstribule Fuel Pov8ty Grants {cash, voucher or a purchas8d household It8rn1 to older people on low Incorne5. Indopondenca at Home Revlew the structura of the Independence at Home workforce. Dellvew our Enabling & Home Support service to ensure that the minimum chargeable hours, every 4-week perfod, as defined within the annual budget is achieved. Recruit sufficient Home Support Asslstants to m8el the fluctuatlng d8mands of th8 Enabling & Hom8 Support service. Monitor bad debts and Ilalso wlth cllents andlor th81r farnlllas to ensur6 ou18tanding payments are recelved. Increase income through the expansion of the Foot Care service to meet demand. Introduce other chargeable services In response to increased Interest and demand e.g., gardenlng. sitting, digital help. online shopping, deep cleanslspring clean$, and Home from Hospital (6-week temporary support). Introduce volunteering rolès which can broaden our offer of free ser¥ices to older people, e.g. befriending, emergency shopping, Structure. governance and management Statement of tru5tees' responsibilltiefj The trustees (who are also the directors of Age UK Devon for the purposes of company lawl are responsible for preparing the trustees. report and thè financial statements in accordance with applicable law and United Kingdom Accounting Slandards {Uniled Kingdom Gener8lly Accepted Accountlng Practlce), Includlng FRS 102 "The FinanGial Reporling Standard applicable in the UK and Republic of Ir81and" Page 10
Age UK Devon Trustees. Report Company law requires the trustees to preparè financlal statements for each financial year. Under company law the tSteeS must not approve the financial statements unless they are salisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources. including Its income and expenditure, of the charitab18 company for that period, In prepartng these ffinancial statements, the trustees are requSred to: select suitable accounting policles and appty them conslstently; observe the m8thods and principles in the Charifjes SORP; make judgements and estlrnat8S thal are rea80nable and prudenl,, State whather appllcable ac¢ountlng standards. comprfsing FRS 102 have been followad. subject to any malarfal departures dl$clos8d and explained in the flnancial statemgnt8,' and pr8par8 the flnanclal statements on the going concem basls unless It Is Inapproprlate lo presume that the charitable company wlll contlnue In buslnass. The trnst8e8 ar8 raspon81ble for k88plng proper accounting records that can disclose wlth reasonable accuracy at any tlme the fln8nclal posltlon of Ihe charftabl8 company and enable them to ensure that the financlal stat8menl8 comply with the Companies Act 2006, They ara also r8sponsibl8 for Safèguardlng the assets of the charitable company and hence for taklng r6ason8ble steps for lh8 prèvontlon and dètectlon of fraud and other Irregularftles. The trustees are responsible for the malnlenance and Integrfty of the corporate and financial infonr¢atlon included on the charitable companvs webslte. Legislation goveming the prepgratlon and dissemlnatlon of flnanclal statements may dlffer from leglslatlon In other Jurt5dlctlons. The annual report was approved by the trustees of tho charlty on .16.:Jx,. All. and slgned on its behalf by: Mrs L Onyett Trustee Mrs H Aldls Trustee Page 11
Age UK Devon Independent Examiner's Report to the trustsas of Age UK Devon ('the Company.) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024. Re5ponsibilitie5 and basig of report As the charity's trustees of the Company (and also its directors for the purposes of company law) 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 that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your ch8rty's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act,). In carying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Indep8nd8nt examlner's statement Since the Company's gross 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 Association of Chartered Certified Accountants, which is one of the listed bodies. I have completed my examination, I confimi that no matters have come to my attention in connection with the examination giving me cause to believe- 1. accounting records were not kept in respect of Age UK Devon as required by section 386 of the 2006 Act", or 2. the accounts do not accord 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 th8 methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable 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 to enable a proper understanding of the accounts to be reached. ilatthew Keane ACCA Association of Chartered Certified Accountants Plym House 3 Longbridge Road Plymouth Devon PL6 8LT Date:. 1..6....1.z....a.4. Page 12
Age UK Devon Statement of Financial Activities for the Year Ended 31 March 2024 (Including Income and Expenditure Account and Statement of Total Recognised Galns and Losses) Unrestrlctod funds R•stricted funds Total 2024 Total 2023 Not• Income and Endowm•nt8 from: Donatlons and18gacles Charitsble activitl•s Investment income 1S4,322 232,553 17,450 244,897 49,044 399,219 281.597 17.450 356,189 317,416 16,667 Total Income 404.325 293.941 698,266 690.272 Expendlture on: Ralslng funds Charitsble actlvltles Other expendlture Total 8xpendilur8 Gainsl(Ios5esl on Investment assets {50,080) (260.528> 8,345 (15,9421 {340.057) {66,022) (600,585) 8,345 (4.798) {560.259) 14.769 (318.953) {355,999) (674,952) (579,828) 10.628 10,628 35,025 Net Incomel{expendlture) Transf8rs bètween funds 96.000 3,483 (62,0581 3,483 33.942 75,421 Net movement In funds 92,517 {58.575) 33,942 75,421 R•conclllatlon of funds Total funds brought forward Total funds carrled forward 1T 617.399 371,732 989.131 913,710 709,916 313,157 1.023,073 989,131 All of the charity's activities derfve frorn continulng operation5 during the above two periods. The funds breakdown for 2023 Is shown In note 17. The notes on pages 16 to 33 fomi an integral part of these financial statements. Page 13
Age UK Devon (Registration number: 02773453) Balance Sheet as at 31 MarGh 2024 2024 2023 Note Flxod assets Tanglble ass8ts Investment properties Investments 13 5,010 6,354 125,(XlO 310,011 14 315,847 320,857 441,365 Current a8s•t8 Debtors Cash at bank and In hand 15 42.143 686.082 18,302 550.949 728.225 569,251 Crodltors: Amounts falllng du• wlthln ono yoar 16 26,009 21,485 Not currnnt a880ts 702,216 547,766 Net assots 1,023,073 989.131 Funds of the charlty: Ré81rlctsd Income fund8 Restricted funds 313,167 371,732 Unrn$trlcted Incom6 fund8 Unrestrlcted fund8 709,916 617,399 Total funds 17 1.023,073 989.131 For the financlal year ending 31 M8rch 2024 the chadty was entltled to exemptlon from audlt under Sectlon 477 of the Companies A 2006 relatlng to small companles. Dlrector8' responslblllties: The members have not required tha charity to obtaln an audlt of Its accounts for Ihe year In quostlon In accordance with section 478; and The directors acknowledge thelr responsibililies for complying with the requlrements of the Act wllh resP9Ct lo accounting reGord8 and the preparation of accounts. The financial statements on pages 13 to 33 Vre approved by the truslees, and authorised for issue on .i.a...i*...w., and signed on Iheir behalf by. Mrs L Onyett Trustee Mrs H Aldis Trustee The notes on pages 16 to 33 fonm an Integral part of these Ilnancial statements. Page 14
Age UK Devon Statement of Cash Flows for the Year Ended 31 March 2024 2024 2023 Note Cash flows from operating a¢tMtIès Nat cash income 33,945 75,421 AdJu8tm6nts to Cash flows from non<ash ltsms Depredatlon Loss on dlspo681 of tanglble flxed assets {Profftylos$ on dlsposal of Snvestrnents 2,862 15.943 10.504 42,246 2,626 35.025 113,072 Worklng capltal adJustm•nts (Increageyd8crea8e In debtor8 Increaselldecreg$e} In crodltors Nel cash flows from operatlng activfjtie8 Cash flows from Investlng actlvltles Acqui8itlons of tangible assets Proceeds from sale of tanglble ass8ts Acqulsltions of investments Proceeds from sale of investments 15 16 (23,838) 4,519 83.375 6,634 22.927 189,813 (1,518) 109.057 (10,152) 14,819 (48,136) 52,590 Net cash flows from Investing acuvltles 112.206 4,454 Net increase in cash and cash equivelents Cash and cash ewiv8lanis at 1 April 135,133 194,267 550,949 356,682 Cash and cash equlvalents at 31 March 686,082 550,949 All of lh8 cash flows are derlved from contlnulng operatlons during the 8bov8 perlods. The notes on pages 16 to 33 form an Integral part of these financlal statements. Pa98 15
Age UK Devon Notes to the Financial Statements for the Year Ended 31 March 2024 1 Charlty status The charity Is limlted by guarantee. incorporatsd In and consequ8nlly does not have share capital. Each of the trust89s is liable lo contrlbute an amount not exceedlng £NII towards the assets of the tharlty In the event of liquidation. The address of Its reglstsred offlc8 Is: Unit 1 Manalon Court Matford Bu8iness Park Exeter Dèvon EX2 8PF 2 Accounting pollcle• Summary of 81gnlflcant accounting policles and key accountlng e811males The prlnclpal accountlng pollcies applled In the weparation of these financlal statements ar8 sel out below. These pollclgs have been ¢on$lstently applied to all tho years presented, unless otheThvlse stated. Slat•ment of compllan¢e The fin8nclal stat8mants have been prepared in accordance Accounllng and Reporting by Charities: Statement of Recommended Practice (applic8ble to charities pr8parlng thelr accounts In accordance with the Flnanclal R8POrting Standard appllcable in the UK and Republic ot Ireland IFRS 102)) (tssued in October 2019) - {Charities SORP (FRS 102)), the Financial Reporting Standard appllcabl8 in the UK and Republlc of Ireland (FRS 102) and the Companies Act 2006. Ba$1• of proparatlon Age UK Devon meets th8 definition of a publlc benefil entity und•r FRS 102. Assets and IlabllStles are Inltlally iecogni$od at hlstorlcal Gost or IransaGtlon value unlo86 otheNise stated In th8 relevant accountlng pollcy not8s. Golng concam The trustees consider Ihat there are no malerlal uncertainties about the charltys ability to continue as going concern nor any signifiGant areaB of uncertainly that affect the Carrying value of assets held by the charity. Income and endowments All income is recognls8d onc8 the charity has entlllement lo the income, il Is probable that thè income wlll bè received and Ihe amount of th8 Income receivable can bè measured reliably. Page 16
Age UK Devon Notes to the Financial Statemants for the Year Ended 31 March 2024 Donations and legacles Donations are recognised when the charity has been notified In vjriting of both ihe 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 incomè is d&ferr6d and not recognised until either those conditions are fully met, or the fulfilment of thos8 condltlons is wholly withln the control of the charlty and it Is probable that these conditions will be fulfllled in the reporting pgriod. Legacy gifts are r8(x)gni88d on a cas8 by case basls followlng the grant of probat8 when the admlnSstratorlexecutor for the 95tate has Gommunlcaled in wrftlng both the arnount and s8ttlement date. In the event that the gift is In the form of an asset other than cash or a finandal asset traded on a recognl¥ed stock exchange, wognltlon is subject to the value of the gfft belng rollably measurablè th a degree of reasonable accuracy and the titl8 to the asset havlng been tr8n6ferr8d to the charlty. Grants recelvabla Grdnt$ are recognised when the Charty has an entitlement to the funds and any Conditions Ilnked to the grants have been met. Where performanc8 conditlons are attached to the grant and are yet to be met, the Income Is recognlsed as a Ilablllty and Included on the balance sheat as daferrod income to be released. Investment Incomo Dfvldends are recognlsed once the dlvidend has be8n declared and notiflcation has been recelved of the dSvidend due. Expendlture All 6xpandlture Is recognlsed once there Is a18gal or constructive obligation to that expenditure, it Is probable settlement 5$ reoulred and the amount can be measured reliably. All costs are allocated to thè appllcab18 expendilure heading that aggregate similar costs to that category. Where costs cannot be directly attrbuled to partlcular headings they have been allacated on a basis conslstent with lh8 use of resources, with central staff costs allocated on the basis of tim8 spent, and depreclation chargès allocated on the portion of the asset's Use. 0th8r support Costs are allocated based on the spr8ad of staff costs. Ral$lng funds These are costs incurred In attracting voluntary Income, the managemanl of Investments and those Incurred In trading acllvlties that raise funds. Charltabl• actlvltles Charitable expenditure comprises thosè eosts incurred by the ch8rlty In the delivery of Its 8cllvili8S and services for its ben8fKlaries. It Includes both costs that Can be allocated dlreclly to suth adivilies and those costs of an indirect nalure necessary to support them. Support ¢osls Support Gosts include ¢8ntral functlons and have been allocatsd to a¢tivlty Cost categories on a basls conslst8nt with th8 use of resources, for example, allocating property costs by ftoor areas, or per capits, staff costs by the tlme spent and olher costs by their u58ge. Page 17
Age UK Devon Notes to the Financial Statements for the Year Ended 31 March 2024 Gov•rnanco costs These include the costs attributable to the charity's compliance with constitutlonal and statulory requlrements, InGluding audit, strateglc management and trustees meetings and relmbur$8d exp8ns88. Taxatlon The charlty Is conslder8d to pa5S the tests sat out In Paragraph 1 Sch8dule 6 of the Finance Act 2010 and therefore It meets the definition ot a charltable company for UK corporation tax purposes. Accordlngly, the ¢harlty 18 Potentially exempt from taxation in respect of income or r3pital gains received wlthln categories wvered by Chapter 3 Part 11 of the Corporatlon Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Acl 1992, to the extent that suGh Income or gains are applied exclusively to charitable purposes. Tanglble fixed as$81$ Indlvldual fixed assets costing £100.00 or more are In5tlally recorded at St, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. D•preeiatlon and amortisation Depreclatlon Is provlded on tanglble fixed as8et8 $0 8S to writ8 off the cost or valualion. less any estlmated resldual value. over thelr expected useful economlc Ilfe as follow8,, Asset class Fumiture and equipment Deproclatlon method and rat• 25Ph straight line Investmont proport108 Investment propety 18 carrigd at fair value, derived from the Lvrrent market prlces for comparable real estate determined annually by extemal valuers. The valuers use observable markel prlc8s, adjusted If necessary for any difference in the natur8, location or condillon of th8 specific asset. Changes in fair value are recognlsed In proflt or108S, Bu3ines8 comblnatlons Business combinatlons are accounted for under the puheSe method. Where necessary, adjustments are mad610 th8 financial 5tsternents ol subsidiarie5 to bring the aGGountlng policles used into Ilne wlth those used by the charity. All intra-group transactions, balances. income and expenses are eliminated on consolldatlon. In accordance with Section 35 of FRS 102, Sectlon 19 of FRS 102 has not been applied in these financial st8temgnts in respect of business combinations effected prior to the date of transition. Flxed asset Invostmant$ Fixed asset investments. other than programme related investments, are Included at market value at thg balance sheet date. Realised gains and losses on investments are calculated as the dlfference between sales proceeds and their market value al the start of the year, or their subsequent cost, and are charged or credited to the Ststement 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 Staternent of Financial Actlvltles based on tha market value al the year end. Pagg 18
Age UK Devon Notes to the Financlal Statements for the Year Ended 31 March 2024 Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits. and othér short-tem highly liquid invèstments that are readily convertlble to a known amount of cash and are subjecl to an Inslgnlflcant rlsk of change in value. Borrowlng8 Interest-bearing borrowings arè initially recorded at falr value, nat of transaction costs. Inlerest-bearing borrowings are subsequently carried al 8morb.sed c05t, with the difference bèhveen th8 proceeds, net of transaction costs, and the amount due on redemptlon belng recognised as a Gh8r9e to the Statement of Financlal Actlvltles over the perlod of the relevant borTowlng. Int8r88t expens818 recognls8d on the basis of Ihe effeCve Interest method and Is Includ8d in interest payable and similar charges. Borrowings are classifled as current Ilabllllles unless the charity has an unconditional rSght to def8r settlement of the liablllty for at least tsvelve months after the reporting date. Fund stru¢ture Unrestricted income funds are general funds that are available for use at the trustees dlscretion In furtherance of the obJectlves of the charity. Restricted Incom8 funds ar8 thos8 donated for use in a pa'Cular area or for spec¢ purposes, Ihe use of whlch Is restrfcted to that area or purpose. Flnanclal Instruments Classlflcatlon Financial assels and financial liabilities are recognised when the charity becomes a party io the contractual prov151ons of the instrument. Flnancial liabllitles and equity instruments ar8 classlfied according to the substance of the contractual arrangements entered into. An equity inslrumenl is any contract that 8vidènces 8 residual interest In the assets of the charlty after deducting all of Its Ilabllltles. Page 19
Age UK Devon Notes to the Financial Statements for the Year Ended 31 March 2024 Rocognition and measurement All financial assets and liabilities are Initially measured at transaction price (Including transactlon costs}. except for those financial assets ¢18ssified as at fair value through profit or loss. which are initially measured at fair value (which is normally the Iransactlon prlce exduding transaction costs), unless the arrang8ment constitutes a financing transactlon. If an arrangemenl Gonstltutes a flnancing transaction, the financial asset or financlal Ilability is measured at the present value of the future payments discounted at a market rat8 of Interest for a simllar debt instnJm8nt. Flnanclal assets and Ilabllltles are only offset in the statement of finan¢lal posltion when, and only when there exlsts a legalty enforcgable right lo sèt off the recognlsed amounts and th8 charfty Intends either to sètt18 on a net basls, or to realis8 the asset and settle the Ilablllty simultaneously. Flnancial assets aTr derecognised whèn and only whèn a) the contractual rlghts to the cash Ilows from the financial asset explre or are s8tt18d, b) the charfty transfers to anoth8r party substantlally all of th8 risks and rewards of ownershlp of the financial asset, or c) tha eharity, desplte havlng retsined Sorne, but not all, signlficant rlsks and rewards of ownership, has transfèrred control of th8 asset to another party. Financlal li8bilitles are derecognlsed only when the obllgalion speclfied In the conlraGt Is dlscharged, cancelled or explres. Debt Instruments D8bl instruments which meet the following conditions are subsequèntly measured at amortised cost using the effective Interest method. Debt Insituments that are classified as payable or recelvable within one year on initial recognition and whlch meet the above conditions are measured at the undlscounted amount of the cash or other consideration expected to be paid or received, net of impairment. With th8 exc8Ptlon of some hedging instruments, other debl Instruments not meeting these wnditions are measured at falr value through profit or1088. Commitments to make and recelve loans which meet th8 condltlons mentloned abovo are measured at cost (which may be nil) less impairment. Investments Investm8nts in non-convertible preferenc8 shares and non-puttable ordlnary or preference shares (where Shares are publlcly traded or th8lr falr value Is reliably measurable) are measured at falr value through profit or loss. Where fair value cannot be measured rellably, investments are m888ured at cost18ss impalrment. Investments in subsidiaries and associates are measured at cost less impairment. For Investments in subsidiaries acquired for conslderalion 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 onsideration. Any premium is Ignored. Page 20
Age UK Devon Notes to the Financlal Statements for the Year Ended 31 March 2024 3 Income from donatlons and legacles Unrestrfctad funds G•n•ral Restrlctod funds Total 2024 Total 2023 Donations and legacies., Donatlons and glftg L&Jade8 rocelvable Donated goods and servlces Grants, indudlng Capllal granls; Gr8nts from compani88 24.796 129.526 551 237,181 25.347 366.707 30,873 299.463 25,853 7.165 7,165 399.219 154.322 244.897 356.189 Page 21
Age UK Devon Not•s to the Financial Statements for the Year Ended 31 March 2024 4 Income from ¢harltable activltleg Unrostrlcted fund$ Genaral Rostrlctod funds Total 2024 Core Grants for speclllc purposes Actlvities 35.541 6,318 45,994 3.050 81.535 9,368 Independence at Home Enabllng and Foot Car8 Other 98,045 28,356 96,045 28,356 Advlco and Wallbelng Grant$ for 8peclftc purpo8$S Acllve In Lalèr Lifo Grants for sp8clfic purposes Trainlng Delivery 63,998 63,998 1.000 1,295 1.000 1,295 281,597 232,553 49,044 Unrestrl¢ted fund$ Goneral Re6tr1ctod fund8 Total 2023 Core Grant$ for spe¢lfic purposes Actlvltles Independence at Hom• Grants for speclfjc purposas Enabling and Foot Care Advlce and Wallbaing Grants for specific purposes Conlract Income Adivities Actlva In Later Llf• Grants for speclfic purposes Actlvitles Trainlng Delivery 25.570 180 28.000 53,5TO 180 (3,002) 118,087 20.000 16.998 118.087 2,979 1,675 13,840 38,145 41,124 1,675 13.840 58,933 10,346 2,663 58.933 10,346 2,663 317.416 231.271 86,145 Page 22
Age UK D•von Notes to tha Financial Statements for the Year Ended 31 March 2024 S InvKtmonl In¢ome Unrnstrl¢ted funds Gonoral Total 2024 Total 2023 Int8r8St receivable on bank deposits Income from Ilsted Investments Rental Income 8,767 10,683 6,787 10.683 2,879 8,873 5,115 16,667 17,450 17,450 6 Expendlture on ralslng funds •) Costs of tradlng actlvltl•8 Unr•strl¢tod fund8 Gonoral Total fund$ Fundralslng 45,073 45,073 45.073 Total for 2024 45.073 b) Inv•$tm•nt manag•m•nt ¢osts Unr•8trlcted funds General Total 2024 Total 2023 Admlnlstratlon of the Investrnents 5.007 5,007 5,007 4.798 4.798 5.007 c) Othor costs of gen¢ratlng donatlons and legacl•s Restrlcted funds Total fund other costs of generatlng funds Total for 2024 15.942 15,942 15,942 15,942 Page 23
Age UK Devon Notes to the Financlal Statements for the Year Ended 31 March 2024 7 Expondituro on charltable activlti•s Indapondenc• Advlce and Cor• al Hom• Wellbfrlng Actlva In Later Llf• Total 2024 Staff costs Costs of runnlng activ5ties Pr8mi8a$ cost8 Office adminlstratlon costs Advertising Legal costs Depreciation Bad debts 101,456 8.241 34.357 47.162 2,508 1,270 2,483 121.854 24.352 135 154.975 1,357 95,690 1,034 473,975 34,984 34.492 47,396 3,441 3,077 2,862 358 234 933 1,807 379 358 197.477 147.632 158,373 97,103 600.585 Analysls by fund Unrestrlcted funds Restrlcted Funds 169,652 27.825 76,902 70.730 147,632 10,787 147,606 158,373 3,207 93,896 97,103 260,528 340,057 600,585 197,477 Independgn¢g Advlco and Coro at Hom• Wellbalng Actlvo In Latgr Llfo Total 2023 Staff costs Costs of running 8¢tivilies Prem1s6S Costs Offlce admlnistration costs Advertising Miscellaneous expenditure Legal costs Depreciatlon Bad debts 89.944 114 29,263 28,046 123,315 141.514 23,477 81,310 30,319 436,083 53,910 29,263 31,697 3,421 1,683 599 1,282 2.205 686 617 538 538 2,826 2,637 2,247 379 2,000 637 149,614 126,234 169,100 115.311 560,259 Analysi5 by fvnd Unrestricted fiJnd$ Restrlcted Funds 136.319 13.295 75.487 50,747 125,207 43,893 93,599 21,712 430,612 129,647 560,259 149.614 126.234 169,100 115,311 In addition to the exp8nditure analysed above, Ihere are also governance costs of £8.345 (2023 £14,769) which rdate dir8clly to charitsble actNlties. S88 note 8 for further details. Page 24
Age UK Devon Notes to the Flnancial Statements for the Year Ended 31 March 2024 8 Analysls of governance and support costs Support cost• Unrestrlctod funds Gonoral Total 2024 Total 2023 Indep8nd8nt 8xamln8rts fee Legal and professional fe8S Bank charges 3,060 3,060 3.656 8.068 3.045 14.769 5.285 8,34S 5,285 8.345 9 Ngt Incomlngloutgolng r95our$ Net Incomlng resources for the year Include: 2024 Depreelatlon of flxed assets 2,862 10 Trusta08 rnmuneratlon and •xpenses 11 Staff costs The aggregate payroll costs were as follows: 2024 2023 Wages and salarfes Penslon Costs 449,605 7,431 423,932 12,1&1 436.083 457,036 The monthly average number of p8rson8 (including senlor management I le8d8rship team) employed by the Gharity during thè year was as foSlows'. 2024 2023 No 25 10 Home Support Assistants other 5tsff 16 21 37 35 No employ88 r8c8lv8d emoluments of more than £60,000 during the year. Page 25
Age UK Devon Notes to tha Financial Statements for the Year Ended 31 March 2024 12 Taxatlon The chlty Is a reglstered charity and is therefore 8X8mpt from taxation. 13 Tanglble flx•d a$80ts Fumlture and equlpmont Total Cost At 1 Aprll 2Q23 Addttlons 53,748 1.518 53,748 1.518 Ai 31 March 2024 55,266 55,266 D•preclatlon At 1 Aprll 2023 Charge for the year At 31 March 2024 47,394 2,862 47.394 2,862 50,256 50,256 Not book value At 31 March 2024 5,010 5,010 At 31 March 2023 6,354 6,354 14 Flx•d ass•t Inv•stments 2Q24 2023 Investrnent propertles Shar98 in group undertaklngs and particlpating Interests Other Investment5 125.000 315.846 315,847 310.010 435.011 Page 26
Age UK Devon Notes to the Flnanclal Statements for the Year Ended 31 March 2024 Investment propertlos InvostnMnt propertlos Cost or Valuatlon At 1 Aprll 2023 Disposals 125.000 125.000 At 31 March 2024 Provi•ion At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 There has been no valuatlon of Investment property by an Independent valuer. 125.000 Shares In group undertaklngs and partlclpatlng Int•r•sts 3ubsldlary undortaklng8 Total Cost At 1 Aprll 2023 At 31 March 2024 Not book value At 31 March 2024 At 31 March 2023 Page 27
Age UK Devon Notes to the Financial Statements for the Year Ended 31 March 2024 Other Investment5 U$t6d investmonts Unlisted Invo6tm•nts Total Cost or Valuallon At 1 Aprll 2023 Valuatlon chang8$ Addltlons Dlsposals 301,404 10.504 55.315 58,707 8.606 310,010 10,504 10.151 14.819 (45,164) 43,888 At 31 March 2024 308,516 7,330 315,846 N•t book valu• At 31 March 2024 308,516 7,330 315,848 At 31 March 2023 301.404 8,606 310,010 15 0•btor8 2024 2023 Trade debtors Prepayments Accrued income 27.007 7,971 7.165 11,183 7.119 42,143 18.302 16 Cradltors: amounts falllng duo wlthln ona y•ar 2024 2023 Trade Creditors other taxation and sodal securlty Other credltors Accwals 6.998 5.753 2.843 10,415 7,007 6,487 2,427 5.564 26,009 21,485 Page 28
Age UK Devon Notes to the Financial Statements for the Year Ended 31 March 2024 17 Funds Balance at1 Aprll Incomlng Resourcos 2023 rosouvces expendod Trangfors Other r8¢ogn15ed galn$ I (losses) Balanc• at31 March 2024 Unro$trlctod fund• General General Funds Contlngency to ensure that future essential activitie5 can continug to be funded 432,399 404.325 <318,953) (3.483) 10,628 524,916 185.000 185.000 709.918 617,399 404,325 318,953 3.483 10,628 R•strlcted fund8 G A Morgan Legacy Nomian Family Trust Dlgltal Champlon Funding Stover TIF Fundlng Anonymous Donor Cost of living funding CAN C811a Ollerenshaw Trust Age UK Mld Dgvon DCC, Oldèr Pèople Engagèmant K Hodgson Legacy Fund Age UK Scams praventlon NBtion81 Lottery Cost of Llvlng 66,495 322 (66,495) (322) 1,083 196 13.299 4.645 6.000 35,994 (37.OTT) 196 6.543 15.132 <6,756) {33,114} (6,000) 43.601 48,244 209.592 {3,777) (55,467) 42,467 154.125 23.856 (9,162) 14,694 160.000 (80,000) 80,000 7,165 (10,648) 3,483 47.181 293,941 47,181 355.999 371,732 3.483 313.157 Total funds 989.131 698,266 674.952} 10.628 1.023.073 Page 29
Age UK Dévon Notes to the Financlal Statements for the Year Ended 31 March 2024 Other Balanca r•cognl$ed at31 galns I March (losse8 2023 Balance at 1 April Incoming Resourc•s 2022 rosource$ •xpend•d Transfer8 Unr•strSct•d funds General General Funds Contlngency to 8nsure that future essentlal actlvftles can wntlnue to be funded 373,476 604,127 (450,179) (60,000) {35.025) 432,399 125,000 498,476 60,000 185,000 617,399 604.127 450,179 35,025 Rostrletèd funds G A Morgan Legacy Norman Family Trust Dlglt81 Ch8mplon Fundlng Stover TIF Fundlno AnonyTnous Donor Cost of livlng lunding CAN Celia Ollerenshaw Trust Age UK Mid Devon DCC. Older Peopl8 Engagement SSAFA Fuel Povety Fund 88.207 (21,712) {350) 66.495 322 672 36,000 1,473 20.000 10,000 6,000 (34,917) 11.277) (6,701) (5.355> 1,083 196 13,299 4,645 6,000 53.593 247,638 <7,349) (38.046) 46.244 209,592 19.796 12,000 (7,940) 23,856 6,000 ,000 415.234 86,145 129.647 371,732 Total funds 913,710 690,272 579,826 35.025 989,131 Page 30
Age UK Devon Notes to the Financlal Statements for the Year Ended 31 March 2024 Rèstrictéd funds - descrlptlon of funds R8Stricted fund8 include- G A Morgan Legacy The GA Morgan legacy Is belng used to support projecas in Ihe Teignbrldge area. Norman Famlly Trust A grant lo contrlbutg 1¢ the runnlng of the Dlgital Champion Progcamme. Dl9ltal Champlon Programmo Age UK grant to dèllvar the Dlgltal Champlon Programme. Stover TIF Fundlng Tackllng Inequalities Fundlng to Support actlvllles at Stover Outdoor Activlty Group. Anonymous Donor Funds to support older people through the ¢ost-of41vlng crlsls. Cost of Ilvlng fundlng Grant funding from Age UK and the Lottory to 8UPPOrt older peopl8 during the COStf-11v6ng crls58. CAN {Connectlng actlvlty to natur•) Funds lo support physical activities in nalure. Cella Oleron$haw Trust Funds to provide actlvltles and servic88 for older people living In EX7. Ag8 iIK Mid Devon Funds to 8UPPOrt the delivery of informatioTr and advice for older people In Mid Devon. The Investment Prop•rty Fund Holds the Inv8Stm8nt property slted In Mid Devon for future dellvery of Informatlon and advlc8 for older pèople in Mld 08von, DCC, Old•r Pooplo Engag•m•nt Funds to enable organisatlonal Insight and feédback about Adult Social Care provislon In Devon. SSAFA Fuel Povèrty Fund Helping households wtth energy ¢osl8. K Hodgson Legacy Fund Providing extra comforts and faclliti85 for aged persons and thelr carers In the dlstrlct of Easl Devon. Pag8 31
Age UK Devon Notes to the Flnancial Statements for the Year Ended 31 March 2024 18 Analysis of net assets between funds Unre$trl¢ted funds Goneral Total fund$ at 31 March 2024 Restricted funds Tangible fixed assets Fixed asset investments Currant assets Current liabllltles 5,010 315.847 414,218 26,009 5,010 315,847 728,225 26.009 314,007 Total not 88sets 709,066 314.007 1.023,073 Unrg$trlct•d funds General Tolal funds at 31 March 2023 Restrlcted fund• Tangible fixed assets Flxed asset Investments Current as88ts Current Ilabllltles 6.354 310,011 322,519 21.485 6,354 435,011 569,251 21,485 125,000 246.732 Totsl net assèts 617,399 371,732 989.131 19 Operatlng lease commltments At the reportlng end date the charity had oulstandlng commitments for future mlnlmum lease payments under nonwcancellable oparating leases. which fall due as follows: 2024 2023 within one year Bétween Iwo and flve years 7,500 14,625 3,750 18,375 7,500 20 Related party transaetlons There were no related party transactions In the y8ar. Page 32
Age UK Devon Notes lo the Financlal Statements for the Year Ended 31 March 2024 21 Subsldlarias These flnancial statements are separat8 oharlty financial statements for Age UK Devon. D8talls of Ihe chartys 8ubsldlari88 at 31 Marth 2024 are as follows: Nature of Cla88 of sharns Y• Held - Realstsred Offi bu31n9 held Dlrect Nam• of und•rtaking Ag• UK oovon ITradlTrg) Ltd England & Wal•s Domiant Ordlnary 100.00 Page 33