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 CHAP7e*iD 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 Trust￿8 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 Y￿11 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 &n￿urage 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 exP￿s4on 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 W0￿1n9. 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 $8Thlces and 8Ctivitses, purchase spaclallst fundralslng expertlse and reviw our offlce accommodatton requirements. During 2024-25 we plan to work wlth fundra15ing consultants lo generate income to replenish funds Spent and enable growth of charftabl8 services and actlvitles In Ilne with our Strategic Plan. The Board of Trustees have the power to invest the Charity's assets, if there are resources over and above those required to deliver current and fvture cl)je￿iveS effectively. Prior to making any investment de¢i$ion$. Trustges obtsir) and consider extemal sp8cialist advic8 to ensure the right balance belween generating an Sncome and maintaining and. if possible. 8nhancing the v￿ue of the invested funds, Pag8 4 Ag8 UK Dévon Trustees. Report K•y Risk$ 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. 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￿$t￿ng 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 $888lons to 312 older people. Generate unrestrlctsd Income through the delivery of charge8bl8 training (Seated Exercise, Demeniia, Falls Prevenlion. MCST and Menopause). Dellver the Exmouth Santa Run to ralse the organlsatlonal proflle and generate unrestrlcted incom8. Page 9 Age UK Devon Trustees. Report Advlea & Wollbeing . Review the structure of th8 Advic8 & Wellbeing workforcé. Deliver our Information & Advica service, adhering to the requlrements of the Age UK Q￿alIty Advlce Standards (QAS). . Renew Quality of Advice Standard IQAS) and AQS certlflcates whlch both explre on 4 March 2025. Dellver our Better Later Lives 8ervice, adhering to the KPIS as detailed withln the Grant Agreement. Deliver the Age UK Scams Awar8n8ss Programm8, adherlng lo the KPIS as detailed wilhin the Grant AgreeTnent, Dlstribule Fuel Pov8ty Grants {cash, voucher or a purchas8d household It8rn1 to older people on low Incorne5. Indopondenca at Home Revlew the structura of the Independence at Home workforce. Dellvew our Enabling & Home Support service to ensure that the minimum chargeable hours, every 4-week perfod, as defined within the annual budget is achieved. Recruit sufficient Home Support Asslstants to m8el the fluctuatlng d8mands of th8 Enabling & Hom8 Support service. Monitor bad debts and Ilalso wlth cllents andlor th81r farnlllas to ensur6 ou18tanding payments are recelved. Increase income through the expansion of the Foot Care service to meet demand. Introduce other chargeable services In response to increased Interest and demand e.g., gardenlng. sitting, digital help. online shopping, deep cleanslspring clean$, 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 t￿SteeS 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 V￿re 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 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 COSt￿f-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￿ bu31n￿9 held Dlrect Nam• of und•rtaking Ag• UK oovon ITradlTrg) Ltd England & Wal•s Domiant Ordlnary 100.00 Page 33