2024-03-31-accounts

Age UK Waltham Forest Annual Report and Financial Statements 31 March 2024 Charfty Raglstrallon Number 1048212 Company Llmlted by Guarantee Registration Number 02334459 IEnglaThJ and W￿9$}

Reports Rèférènc8 and admlnlstraiive dètalls Chairfs Introductton Trustees, report Independent auditorfs report 30 Financial statèm8nts statement of financial activities 36 Balance sheet 37 ststement of cash flows 37 Principal accounting policies Notes to the financial statements 38 43 Age UK Wahham Forest Annual Rewl and Financial Ststements for the year ended 31 March 2024

Trustees Barry Coldan Chair Paullne Martlndalè Rlchard Freitsg Honorary Treasurer Yvonne O'sullivan Andy Barrick lappoinled 29 Febnjary 20241 Olufunmllayo Oludare lappoinl&J 29 Febwary 20241 Rupert Williams laFpJi)ta 29 February 20241 Leo van dèr Borgh 18ppointed 29 Febnjary 20241 Tanya Wilkinson lapponted 29 Febw8ry 20241 Stsff Central Team Emma Tozer Chief Executive Helen Bigham Gommunily Fundraiser Chrl$tine Bateson Project Support Eric Callow Project Support Carolyn Stiles Reception and Office Assistant Emma Pajarillaga Volunteer Co-ordinator Arlene Williams Finance and Personnel Informatlon and Advlce Chearlne Alphonse Inform81ion and Advice Manager Ingrid Ambrose Adviser, Information and AdviGe Carol Moy Administrator Independent Llvlng Team Emma Levine Community Services Manager Liz Byrne Co-ordinator Beverley Rai50n Nail Care Te¢hni¢ian Befriending Terry Day Befriending Manager Kale Ash¢roft Befriending Co-ordinator Harriet Sirnmons Befriending Co-ordinator Muzammil Raza Adminislralor Corazon Callow Julie St Roman Angela Wright Julie Jarvis Kay Reid Angela Jordan Help at Home Support Workers Denlz Mustafa Handyperson Activities and Digital Inclusion Eleanor Jew&ll Activities & Communications Lead Tyler Alexander Digit81 Outreach WoH(er Jason Davie5 Digital Outreach Worker Veterans Support David Hale Veterans Co-ordinator Alistslr Martin V8t8rans Cowordinalor Cf)mpan Secretary Charity Number Websile Registered Address Emma Tozer 1048212 eukwalthamforesLo .uk Waltham Forest Resource Hub North, 58 Hall Lane, Chin ford, E4 8EU Buzzacott LLP, 130 Wood Street, London EC2V 6DL CAF Bank, 25 Kings Hill Avenue, Kings Hill, West Mallin , Kent ME194JQ Accountsnt Chari Number Ricca Bunda 1048212 Auditor Bankers Investments CCLA Fla stone Investments Age UK Wallham Forest Annual Report and Financial Stalernents for the year ended 31 March 2024

Chair's Introduction I've been Chair for just under a year and before that Treasurer for five years. In that time, I have witnessed and experienced the many On behalf myself and the other Trustees, challenges and successes of Age UK thanks to all the great people who work, Waltham Forest. What has struck me is volunteer, and help in so many ways at how adaptable we are. Look over the last Age UK Waltham Forest. few annual reports and you will see how Age UK Waltham Forest has had to Dip into our annual report and share in manage changes in its funding streams, our sense of pride and achievement refocusing services, enlarging some and introducing new schemes to meet the needs of the people we serve. The same here is another French expression 'esprit de corp. that you notice, if like me, you hang around The Hub, on Hall Lane for any length of time. The sense of pride, the shared sense of purpose and the humour are trademarks of Age UK Waltham Forest. Barry Coidan, Chair We are not a big charity when compared to other London Age UKS but I know we punch well above our weight. We offer a range of services and activities that we can be really proud of. From Information and Advice. Befriending, Foot Care, Silver Surfing classes, Yoga, Book Club to shopping for house bound residents and handyman services and Veterans Club. There is a French colloquialism "Plus Ga change, plus c'est la mème chose. The more things change the more they remain the same." Age UK Waltham Forest is constantly adapting, yet in one important aspect it remains the same. The same dedication of its staff and volunteers, the same focus on delivering the best service, be it advice, support and helping our clients to live life to the full. Age UK Wallham Forest Annual Report and Financial Statements for the year ended 31 March 2024

TRUSTEES, REPORT The Trustees present their report together with the financial statements of Age UK Waltham Forest ('Age UK WF, or 'AUKWF') for the year ended 31 March 2024. The report has been prepared in accordance with Part Vlll of the Charities Act 2011, and constitutes a directors, report for the purpose of company legislation. The financial stalements have been prepared in accordance with the acGounling policies set out on pages 39 to 43 of the attached financial ststements and comply with the charitable company's Memorandum and Articles of Association, applicable laws, the Companies Act 2006 and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their acGounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102). Introduction The company is established for charitable purposes. Its principal object is to improve the quality of life of all older adults in the London Borough of Waltham Forest. This objective is fulfilled through providing direct services, raising awareness of and represenling the needs and wishes of older adults, and participatron in joint initiatives wilh statutory authorities and nOn￿OVernMental organisats'ons. Age UK Wallham Forest Annual Report and Financial Ststements for the year ended 31 March 2024

GOVERNANCE, STRUCTURE AND MANAGEMENT Governance Age UK Waltham Forest is constituted as a company limited by guarantee (Company Registration Number 02334459 (England and Wales)) and is a charity registered for charitable purposes wilh the Charity Commission (Charity Registration Number1048212). Liability of the members In the event of the charitable company being wound up during the period of membership, or within the year following, company members are required to contribute an amount not exceeding £1. Trustees The Trustees of the charitable cornpany constitute the directors of the Charity for the purposes of the Companies Act 2006 and other company legislation. Details of the Trustees who served during the period of report and up to the date of approval of this report are provided within the referen￿ and administrative information at page 1. Trustees, responsibilities The Trustees {who are also directors of Age UK Waltham Forest for the purposes of company law) are responsible for preparing the Truslees. report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practi￿). Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources, including the income and expenditure, of the Charity for thal period. In preparing these financial statements, the Trustees are required to.. • select suitsble accounting policies and then apply them consistenlly. • observe the methods and principles in Accounting and Reporting by Charities: Statemenl of Recommended Practi￿ applicable to charities preparing their accounts in accordance with Financial Reporting Stsndard applicable in the United lfjngdom and Republic of Ireland (FRS 102). + make judgements and estimates that are reasonable and prudent., • state whether applicable United Kingdom Accounting Standards have been followed, subject to any Material departures disclosed and explained in the financial statements. and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation. Age UK Waltham Forest Annual Report and Flnan¢ial Statements for the year ended 31 March 2024

The,'Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Charity 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 Charity and hence for taking reasonable steps for the prevention and deteclion of fraud and other irregularities. Age UK Wallham For8St Annu* Repjt and FSrRncial Stalements for the year ended 31 March 2024

Each of the Trustees confi￿nS that: • so far as the Trustee is aware, there is no relevant audit information of which the Charivs auditor is unaware., and • the Truslee has taken all the steps that helshe oughl to have taken as a Trustee in order to make himselflherself aware of any relevant audit information and to establish thal the Charity's auditor is aware of that infomiation. This confirmation is given and should be interpreted in accordance with the provisions of s418 of the Companies Act 2006. The Trustees are responsible for the maintenance and integrity of the corporate and financial information induded on the charitable company's website. Legislation in the United Kingdom governing the preparation and disseminalion of financial staternents may differ from legislation in other jurisdidions. Key Management Personnel The overall responsibility of Age UK Waltham Forest ultimately lies with the Trustees who meet on a quarterly basis. Day-tolay management of the Charity is delegated to the Chief ExecutlV8 who reports to the Trustees on a fomal basis at each Trustees, meeting and regularly throughout the year on an ad hoc basis. No Trustee receives any remuneration or payment in respect of their services as a Trustee. The Chief Executive re￿iVeS a monthly salary which is set by the Truslees after having reference to other charities. particularly Age UK charities and other organisations (with similar objects to Age UK Waltham Forest) of a similar size. Working with other organisations Age UK Waltham Forest is committed to collaborative working in furtherance of its aims. At a local level, Age UK Waltham Forest seeks to work closely with Waltham Forest Council and North East London Integrated Care Board, both formally and informally, in representing the needs and views of older adults, in the development of policy, and in the monitoring of its implementation. Ordinarily the Trustees meet on a quarterly basis to review progress, discuss issues and agree strategy. Age UK Waltham Forest also works with a wide variety of other organisations induding Citizens Advice Waltham Forest and HEET {Home Energy Efficiency Training Ltd) and with other local Age UKS where we can mutually extend our reach to support more older people. During this financial year Age UK Enfield and Age UK Waltham Forest have continued to partner to provide a Veterans Support service across both boroughs. Age UK East London, Age UK Redbridge, Barking and Havering and Age UK Waltham Forest share the same Integrated Care Board footprint and recognise the Importan￿ of joint working to provide older people in these areas responsive seNI￿s, therefore the three organisations have agreed to work in pathership lo respond to need, meeting on a monthly basis to collaborate. As a member of the Age UK Federation, Age UK Wallham Forest tskes part in a number of regional and national initialives and campaigns. Age UK Wallham Forest Annual Rep)rt and Financial Stslemenls for the year ended 31 March 2024

GOVERNANCE, STRUCTURE AND MANAGEMENT Quality Marks and Professional Memberships We are proud to have achieved the Organisational Quality Standards for local Age UKS in England. Our achievement of the Oiganisalional Quality Standards recognises the high standard of our perfom)ance as an organisation. It certifies that we are a Well￿0verned and effective organisation committed to the wellbeing of older people, our staff and volunteers and to working in partnership with others. The Standards are externally assessed by industry leaders SGS and endorsed by the Charily Commission. W8 are also holders of the Advic8 Providers Quality Mark and The Age UK Information and Advice Quality Programme (IAQP) which shows that we offer a quality assured service. It demonstrates our commitment to providing consistent, relevant and effective advi￿. to customer care, and that our service has clear and relevant procedures in pla￿ to manage the delivery of good quality infomiation and advi￿ to clients We are London Living Wage and an Age Friendly Employer, Cyber Essentials Accredited, members of the Befriending NebNork and the Confederation of Service Charities. Risk management In line with the requirement for Trustees to undertake a risk assessment exercise and report on the same in their annual report, the Trustees have looked at the risks the Charity currently faces and have reviewed the measures already in place, or needing to be put in pla￿, to deal with them. The Trustees have identified five main risk areas for the Charity: Governance- ensuring Trustees are skilled and have the knowledge they require through involvement in the development of Age UK Waltham Forest. including the provision of information to enable informed decisions. A review of governance takes place regularly to ensure that Age UK Waltham Forest's governance is fit for purpose for both partnership working and future contracts. Finance - Age UK Waltham Forest continues to seek new ways to ensure the Charity's sustainability while meeting the needs of older people and carers in an area of increasing deprivation. Stsffing - retaining key staff by regularly reviewing their terms and conditions, providing training to develop their skills and involving them in the development of the organisation. The willingness of staff to be flexible and take on new projects has contributed significanlly to the success of Age UK Waltham Forest as has our continued focus on holistic and individualised services for older adults. Premises As reported previously, it is understood that the Council still plans to close the premises where the Charity's offices are located. We have now been infonned in writing that it will not ask us to 18ave the building without enabling us to locate suitab18 alternative accommodation in the Borough. Until such time as replacement accommodation is located, we have been offered and have signed a lease until 2027. The Council recognises the important work we do and the need to have accessible Spa￿ to support older people in our Borough. The Trustees and the Chief Executive continue to monitor this situation closely to ensure that the Charity has suitable premises for its work. Age UK Wallham Forest Annual Report and Finanoal Statements for the year ended 31 March 2024

Changes In pollcy and legislation- Age UK Waltham Forest continues to respond to changes in local and national policy and legislation as they affect the voluntary sector and the provision of health, social care and other services. In summary, the Trustees have assessed the major risks to which the Charity is exposed, in particular those relating to the specific operational areas of the Charity and its tinances. The Trustees believe that by monitoring reserve levels, by ensuring controls exist over key financial systems, and by reviewing the operational ariangements and business risks fa￿d by the Charity, they have established effective systems to mitigate the identified risks. The impact of the charity's operations on the environment We recognise the impact of our operations on the environment- a number of mitigation measures have been in place for many yeais e.g. in 2021 we moved to a new IT system and the redundant computers were either given to local schools or recycled through an appropriate carrier rather than going lo landfill. When purchasing furniture and equipment we choose used rather than new as our first option. We use sensor lighting in our hub, auto-hibemation of laptops after 5 minutes of inactivity and ensure equipment is tumed off at night and not left on standby. We recyde paper, cardboard, plastics and inkltoner cartridges. These measures have enabled us to move from weekly to fortnightly waste collections reducing the need for diesel powered lorries to visit us by 500/0. Where it is feasible to do so, we are maintsining online meetings to reduce the need to travel. We are limited as to the suppliers of our gas and electricity as these are provided by the landlord (the local authority). We have carried out an independent Ec￿AudIt to examine where we can further redu￿ our environmental footprint and the results were presented to staff and Trustees in Augusl 2023, consequently we have increased our recycling and reduced our waste outputs. reviewed our staff travel arrangements and redU￿d our use of plastics. ACTIVITIES AND SPECIFIC OBJECTIVES Age UK Waltham Forest aims to improve the quality of life for older adults and their carers in Waltham Forest by providing direct Servi￿$, campaigning for the rights of older people and older carers, and participating in partnership working with statutory authorities and non-govemmental organisations. Age UK Waltham Forest's Memorandum and Articles of Association enable the provision of services to all adults when appropriate. Age UK Waltham Forest is an equal opportunities organisation that welcomes the diversity of the Waltham Forest community. When setting the objectives and planning the work of the Charity for the year, the Trustees have given consideration to the Charity Commission's general guidance on public benefit. The activities of Age UK Waltham Forest are described below. Age UK Wailham Forest Annual Report and Financial Statements for the year ended 31 March 2024

Our mission "The object for which the charity is established is "to promote and enhanc8 the well-b8ing and quality of life of all older people in Waltham Forest, to help make later life a more fulfilling and enjoyable experience and to support people especially at those points in life when the right help can make a signifiGant difference. Our Services Volunteering Information and Advice Jp io The organisation has a unique ability to meet this mission through having developed strong connections and credibility locally, as well as having membership of the Age UK England Association nationally, providing the organisation and its members with a voice in national and regional initiatives and campaigns. Befriending and Social Groups Winter Warmth We alm to create a culture which: is clearly centred on the needs and aspirations of older adults, their carers and their diverse communities; is constantly striving to become a Gentre of excellence; welcomes feedback. is characterised by innovation and creativity. works as part of a collaborative local system. enables service users and the general public to influence the providers of services. Exercise Classes Digital Inclusion Footcare Handyperson Working with other organisations We work with a wide variety of organisations on initiatives. Help at Home These include: Citizens Advice Waltham Forest HEET- Home Energy Efficiency Training London Borough of Waltham Forest Age UK Redbridge, Barking, Havering and Age UK East London Shopping and Prescription Services Footcare Veterans Support Age UK Waltham Forest Annual Report and Financial Slalements for the year ended 31 March 2024 io

Volunteering Age UK Waltham Forest is proud of its We recwit volunteers in many different volunteer workforce. Without our ways including leaflet drops, adverts in fabulous team of volunteers, we could local papers, online via volunteer not carry out the work that we do. recruitment sites, social media and Working alongside staff, they bring a at recruitment fairs. wealth of experience, a valuable and objective viewpoint and a wide range of skills to the many and varied tasks We can never repay the dedication, nor which they perfom. These range from thank our volunteers sufficiently for their providing Befriending Services. form- greatly valued contributions. filling for our Infonnation and Advice Service; helping at our Walking Football. shopping for vulnerable adults, through to teaching computer skills, as well as staffing our front desk and making our offices a warm and welcoming place for all that visit us. 340 volunteers provlded We continue to work with a large number of volunteers, this year we operated with a ratio of 340 volunteers to 23 employed staff. 28,455 hours of support Age UK Waltham Forest Annual Report and Financial Slalemen li

Information and Advice Service Our team of dedicated staff and Home visits. For clients with complex volunteers provide free, confidential and issues, disabilities, bedbound or house independent information on a wide range bound. who cannot get to an outreach of subjects. appointment. In particular we specialise in: Drop-in Service. Clients can access Welfare Benefits advice for those who our service once a week, held in Priory are pensionable age, including benefit Court Community Centre checks to work out if they are entitled to Walthamstow. The drop-ins are held on means tested and disability benefits, and Wednesdays only. We have seen 311 assisting people to complete claim fomis people delivering form filling and benefit such as Attendance Allowance, Personal calculations. All complex enquiries are Independence Payment forms and on- referred to the main office in Chingford. line benefits such as Council Tax Support, Discretionary Housing Benefit It's been an incredibly busy year for the and Housing Benefit. I&A team and a Challenging time for people living in Waltham Forest. Social Care to help people identify care and support services appropriate to their We have seen many residents continue needs, accessing adult services and to struggle with increasing costs to heat advising and completing home adaptation their homes, buy food and stay on top of forms, grants for white goods, small prioritybills. repairs. and digital connections and financial support for unexpected bills. We have also worked closely with the food banks and understand that there has Local Community advice for older been a sharp rise in older clients people on the services, support groups, accessing food banks and this has been activities and concessions available reflected in the type of support that clients locally needed from our I&A servic8. Our service includes: The service has far exceeded their reach Information guides and factsheets on a this year by supporting 2,358 local wide range of subjects affecting older residents, which is just over a 48% people and those who care for and increasefromlastyear. support them We have also seen a significant increase Face-to-face office appointments. We of known clients accessing our service ask that clients contact us to arrange an again to reapply for the higher rate of appointment rather than 'dropping in, so their existing benefit due to the that we can ensure that they will be seen deterioration in their health andlor to without having to wait, and that we can access more money to help with their tell them about any documentation that day-to-day living costs. we would need them to bring along to the appointment Age UK Wallham Forest Annual Rewrt and Financial Statements for Ihe year ended 31 March 2024 12

The main issues included support with claiming welfare benefits, income maximisation and benefit checks, information on housing and increasing rents and accessing grants, as well as care options information. customer care, and that our service has clear and relevant procedures in place to manage the delivery of good quality information and advice to clients. We have completed 550 benefit checks an increase of 56.5% from last year where clients were able to apply for Housing Benefit, Council Tax Support, Pension Credit Savings and Pension Credit guarantee. Our service was accessed by 2,358 people, a 49 % increase on 2023-2024. On an individual basis our team generates on average over £5,200 annually per person through benefits which has made a real difference to their lives. Our team were also able to refer eligible clients onto the Household Support Fund which is being administered by Waltham Forest Council, and this has helped clients who could benefit with a one-off grant. Our I&A Team successfully accomplished the Quality of Advice Stsndard (QAS) and Advice Quality standard certificates (AQS) which shows that we offer a quality assured service. It demonstrates our commitment to providing consistent, rolovant and effcctivc advicc; to During the year we successfully achieved £2,265,955 of extra welfare benefit income for older people in Waltham Forest. This claimed income can improve their quality of life, maintain independence and support local services. In 2024-2025 we look forward to expanding our service and provide a drop-in service in our Chingford Hub office. 2,358 individuals were advised on claimed 3,550 £2,265,954.60 in previously unclaimed benefits matters Age UK Wallham Foresl Annual Report and Financial Statements for the year ended 31 March 2024 13

Just Connect Befriending Service This was a year of very high demand for befriending. By the start of December 2023 we had already received 112 new referrals, with 56 people on the waiting list., It was also a year dominated by uncertainty. The Council first announced that they were putting the Befriending Service out to competitive tender in October 2022, yet by the end of March 2023 despite us having put hours into extended 'engagement sessions. with the Council - there was still no definite timescale for this to take place. Our contract with the Council was extended temporarily several times. people aged 60+ who live alone. The average age of people being befriended is 82. Only 15% are in their 60s, 59% are aged 80+, and 20/0 are 100+ The core purpose of befriending is to combat loneliness. But our volunteers go above and beyond this over and over again. Many of the friendships we create go on for a long time some become friendships for life. 38% of the older people have been having visits from a befriender for over 2 years. Nearly 10 % of them have been visited weekly for over 4 years. As a result of this Un￿rtaInty we made the hard decision to close the waiting list in December 2023, not wishing to make promises to older people which we might not be able to keep. Assuming new referrals would have continued at the same rate, we would have had 168 new referrals in the whole year, an 80/0 increase on last year. We work hard to ensure that the befriending service reaches all the diverse communities in Waltham Forest. dllLI dre pleclSgLI wlLlI Ilie igsulls. Tlils year 67.8 % of the people we befriended were white, compared to 67.1 % white people in the population of Waltham Forest aged 60+. We have a significant over-representation of Black elders using this service: 21.5% of those who have a befriender are Black, compared to just 14% of the Waltham Forest 60+ population. Asian elders are, however, under-represented among our service users at 7.5 %, compared to 15 % of the Waltham Forest 60+ population. We suspect that this is due to a higher proportion of Black elders living alone, and a lower proportion of Asian elders living alone, but do not have the data to make an accurate analysis. Even with closure of the waiting list two thirds of the way through the year. we still had 37 people on the waiting list for befriending as at 311312024. Each of our volunteers befriends one isolated older person who lives alone, visiting them every week for at least an hour. In 2023124, 308 individuals were visited by a befriender. We do have to impose some eligibility criteria on this service, as demand is far higher than we can meet, so the service is only open to Age UK Waltham Forest Annual Report and Financial Statements for the year ended 31 March 2024 14

The befriending service plays a good role in the Borough's safeguarding system. We made 7 safeguarding reports on behalf of people we befriend during this last year. This year we have seen a rise in the number of safeguarding concerns arising from poor quality paid care (carers sleeping on the job; carers occupying parts of the older person's house without permission). We've also been able to report cases of older people being abused by their family members; older people at risk of wandering and setting fire to themselves. We are proud of the role we play in keeping older people safe from harm. Windrush. 35 older people attended our Black History event in October. 28 people attended a wonderful Christmas dinner put on specially for our service users by the Connaught Club. With all these events, many of the people could only attend because of a volunteer driver giving them a door-to-door lift. We were also delighted this year to gather 14 life stories from some of our Caribbean elders, and put these into an exhibition Unheard Stories. This was displayed at the Town Hall during Black History Month and was very well received. As always, the Befriending Service is nothing without our amazing, dedicated, caring volunteer befrienders. At 311312023 we had 212 befrienders. 43 new volunteers started during the year. and 31 volunteers left. We were delighted this year to support some of the older people to get out of their homes and attend events. 110 P8ople attended our Windrush Garden Party, celebrating the 75-year anniversary of the arrival of the ship the 308 Volunteers gave older people received weekly befriending visits 15,171 volunteer hours, making 648 phone calls and 6,932 visits to older people's houses Age UK Waltham Forest Annual Report and Financial Statemenis for the year ended 31 March 2024 15

Social Groups Tackling social isolation has become chat over a hot drink and biscuits. Great more important than ever, as we friendships continue to grow in this group continue to see the social impact of not only between the service users, but Covid-19. This year, we have between the service users and our five continued to run our Wednesday dedicated volunteers. Many of the Coffee Morning to help reduce attendees boast of making great friends isolation for our service users who and enjoying the opportunity for good cannot attend any of our physical company and companionship. It's also activity classes. the Chan￿ for those in the group to celebrate, as we have hosted a 101st Although we have reduced our birthday in the group and held two provision of social groups in our Christmasparties! timetable to just one a week, the The social group has also provided opportunities for different organisations to provide help and support to Ihe group. We have held talks from Barclays on scams, Eon and HEET on energy saving measures as well as a monthly visit from the early prevention team to help signpost user to council services. number of attendances to our social groups has nearly doubled since last year and we have an additional 21 regular members. We continue to run Coffee Time, which is now a part of the council's community living room programme and meets once a week fora 1,543 Attendances by 149 Individuals at 48 Coffee Mornin Age UK Waltham For8st Annual Report and Financial Sta18m8nls for the y8ar end8d 31 March 2024 16

Winter Warmth Initiative Influencing This year we provided 205 Warmth We have contributed this year toward Packs to residents in the Boi-ough. To strengthenlng the voluntary sector as a ensure we were meeting those most in whole in Waltham Forest and in raising need, referrals for packs were accepted older people's issues and amplrfying older from professionals in the Borough people's voices when needed: including Social Services, Social Prescribers and Housing Officers. A We are part of the Voluntary and small team of volunteers delivered Community Sector Leadership Group Warmth Packs consisting of a fleece which seeks to strengthen the Vol￿ of jacket, hat, gloves, scarf, ice gripper for the VCS sector within health and social shoes, walking sticks, blanket and care. As part of this we ran a very information on how to save money on successful workshop on older people's energy directly to older people's issues at a big VCS event in October homes. We were also able to provide 2023. Electric Blankets to more vulnerable or at risk clients. We have contributed to a project which is attempting to re-establish an umbrella This work was funded from income body for the voluntary sector in Waltham raised from our own fundraising efforts, Forest: Community Voice. a small grant from Age UK national, and funding from the London Borough of We have been advising Barts Health as Waltham Forest. they establish an Academic Centre for Healthy Ageing. We also referred 62 older people to HEET who gave free advice on how to In February 2024 we joined forces with make homes safer and warmer. In Afro-caribbean Elders Association, some cases HEET fitted energy Alzheimers Society, Carers First and efficiency measures that will help to CREST to lobby the Council not to save money on heating bills. abolish the paper parking permit system, We promoted the Servi￿ via our forcing everyone who lives in a Controlled Newsletter and through our networks, Parking Zone to go online each time they including Social Prescribers in the have a visitor. We knew this system Borou would be unworkable for many, many older people. Although we did achieve some concessions from the Council, they have pressed ahead with their new system and we remain deeply concerned at the impact on the many older people who are not online. Provided 205 Warmth Packs Ago UK Waltham Forest Annual Report and Financial Statements for the year ended 31 March 2024 17

Exercise Classes One significant problem of old age is loss Although the number of classes we of independence. Reducing the risk of provide has decreased we are still falls, exercising regularly and attaining a seeing an increase in the number of reasonable degree of physical fitness, individuals attending our classes. By helps an older person meet the demands consolidating our classes, we can of their daily routine and live provide a better experience for our independently for as long as possible. service users as all the classes are well attended, which increases satisfaction During this financial year we have overall and leads to high levels of re continued to provide face to fa￿ attendance. exercise classes across the borough designed especially for those over 50. As a result. in 2023124 the number of We provide 20 well attended in-person individuals attending any of our classes each week and 3 online classes. exercise classes has increased from This provision includes 9 Tai Chi groups 7,500 to over 10,000 from the previous both online and in-person, Table Tennis year. and Yoga classes at the Hub. We also host new classes such as Walking Football, and Fitness classes at different venues in the Borough and we have introduced a second Pilates class, which is highly popular. Each week we pmvide 25 physical actlvity Classes across the Borough." Walking Group 2 Walking Football Groups 12 Tai Chi Groups 2 Table Tennis Groups 2 Seated Yoga Zumba Dance Healthy Hearts Exercise Group Bollywood Dance Circuits Class Pilates This year we have also sought to continue our provision of exercise classes in the south of the Borough. We have had to reduce the number of Tai Chi classes we provide in sheltered housing and community buildings in Chingford, Walthamstow, Leyton and Leytonstone. However, we continue to provide 12 Tai Chi classes in all locations of the Borough. All of these allows more older residents of Waltham Forest to take steps in improving their h sical fitness. 1,072 10,156 attendances by 836 Indlviduals exercise classes Age UK Waltham Forest Annual Report and Financial Ststements for the year ended 31 March 2024 18

Digital Inclusion Silver Surfers Overall, 193 individuals attended the Our Digital Inclusion work began in online sessions and gained confidence 2008 as the Silver Surfers, Project. with technology and have been equlpped The aim of the project was to teach With skills to access information. older people the basics of using a computer. Each course lasted for 10 Digital Buddies weeks and cover8d the essential Our new Digital Buddies programme elements of using a computer, aimed to help improve digital exclusion by accessing the internet and emailing. providing 1-2-1 tech support for service users on their own devices. This allowed In 2014 we began offering topic- service users to tackle specific problems based classes. The programme is that might not be covered in one of our shaped by what students tell us general Silver Surfer classes. they want to leam and includes subject such as Introduction to The programme has recruited eight Tablets, Internet SecuritylScam- volunteers who have provided tech Awareness, getting to know your SUPPOrt via 72 home visits to 44 older iPad, Skype for Beginners, eBay, people. Twitter, cloud storage and Google Maps. w. For 2023-2024 we continued to provide the sessions in a Hybrid fashion - this enables us to support both people who can travel to our hub but also those that join by Zoom from their homes. The on-going success of this programme is attributed to the commitment of the volunteer team who compile and deliver the courses. 652 48 topics 53 classes 13 Tech Support Groups 3 Techy Tea Parties 72 home visiting sessions attendances by 237 Individuals Age UK Wallham Forest Annual Rep)rt and Financial Slatém&nts for the year ended 31 March 2024 19

Help at Home and Handyperson Services Help to find a safe, reliable handyperson If the job requested is not one that our or cleaner at a reasonable cost has been team can do, for example anything a regular request from many older related to heating or electrics, then we people. In 2022 we successfully set up help them source a reliable alternative. both these services, and the requests keep on coming throughout the borough Our Help at Home servic8 is all about and the number of clients - and workers basic housework, and jobs usually is constantly increasing. Our include cleaning, vacuuming, bed Handyperson and Help at Home services changing and laundry. Our workers also are vital to enable older people to live as offer assistan￿ with letters or phone independently and safely as possible in calls and other admin tasks that the their own homes. And, as all our workers client might find difficult. have been through the necessary recruitment process and DBS checks, clients have peace of mind that they have trustworthy people in their homes. The Handyperson offers help with, practical jobs around the home such as putting up shelves, fixing a toilet seat or minor plumbing jobs such as changing a a washer. They also do gardening and painting and decorating jobs, which are much in demand. As part of our handyman service, we have offered a service to install grabrails - usually in the bathroom, toilet or outside the front door, plus installing stair rails. Many of these requests have come from social prescribers, GP surgeries or via community groups. Our handyman would visit and discuss with the client the most useful and practical place for the rail, and ensures that it is a safe place to install. This is a free service where the client does not have to pay for materials or labour although donations are encouraged! 2,432 hours delivered for Help at Home clients 665 hours delivered of handyperson jobs 70 GrabraOI8 & stalr•ralls installed Age UK Waltham Forest Annual Report and Financial Statements for the year ended 31 March 2024 20

Shopping and Prescription Services The Shopping and Prescription Services Our busy footcare service provides toenail were created in April 2020 when Covid19 cutting and promotes good foot health, which hit the community and many older people helps older people remain physically active, were shielding - orjust afraid to go out. more mobile and therefore more independent. Toenail cutting is a challenge for many older Although the numbers have decreased people, especially for those who are frail or since then, we have continued to offer unable to bend. these essential ServI￿S for those who are housebound or unable to manage We run the service in our specially created their own shopping. Some use the treatment room at the Hub. every Tuesday service each week, others on an ad hoc and Wednesday. It's Ca￿led out by an basis, but everyone is aware that it is a experienced nail care technician who also has friendly, reliable service and we just many years. experience in nursing. charge the client an extra £2 ft)r the service, which goes towards admin costs. We are clear in the service's limitations". this is The team of volunteers ensure that this is not a full podiatry service, which enables us to borough-wide service. Some also keep the cost to the client as low as possible collect and deliver from local food banks at a very reasonable £21 (increased to £22 in an essential service. Jan 2024). If anyone requires further treatment beyond our service, we assist a We also offer a prescription service, to referral via their GP or can advise on local collect medication from the pharmacy podiatrists who can treat them. and deliver to the client. most of whom are housebound and have no friends or This is a very popular service with many family to help. repeat clients, and also new ones each month. We assisted the Dementia Hub in Leyton to set up a treatment room; we now offer a similar nail-cutting facility to their service users and all residents in the Borough aged 50+. () Footcare 442 Shopplng trlps and prescriptlon deliveries 223 Older people receiving our footcare services 541 footcare treatments Age UK Waltham Forest Annual Report and Financial Statements for the year ended 31 March 2024 21

Veterans, Support 2023 was a busy year for our veterans, groups which continue to grow in popularity. There are four regular scheduled social events: The breakfast club on the first Saturday of every month at the Greene Man pub in Chingford, a monthly lunch club at Leyton Orient and two coffee aftemoons held at the hub. Attendance at those events continued an upward trajectory, for example the We have continued our signposting annual Christmas lunch attract8d 54 ServI￿S and helped with rehoming veterans and family members compared veterans. We are well supported by the to 37 the year before. Chelsea pensioners and several of our cohorts have attended events at the We've also attended parades including Royal Hospital Chelsea. Armed Forces Day, The Battle of Britain, The Battle of Trafalgar and a well- attended Remembrance Day parade in Our veteran coordinators have been Chingford. We also hosted the Veterans, serving on Waltham Forest council's Minister Johnny Mercer at a breakfast veteran steering committee and advised club and had a guided tour of the them on their project to become Houses of Parliament. We watched a signatories to the Armed Forces fascinating presentation by the Nuclear Covenant, a result of which is that two Test Veterans who had been part of the veterans in need are currently being UK'S nuclear testing programme in the considered for council housing. south pacific in the 1950s. Leyton Orient Football club have also been kind enough to gift us complimentary football tickets. 88 Veterans receiving support and companionship Age UK Wallham Forest Annual Report and Financial Ststements for the year ended 31 March 2024 22

Other activities This year, in response to what older people have told us, we have strived to hold more creative activities and social activities for our Servi￿ users. We now hold a monthly craft club to allow our service users to explore their creative sides, as well as a 20-week bridge course, a twice monthly bereavement group and a weekly Ukulele group. We have also run many one-off events such as; a music course with Soundcastle, a pottery course a Sri Lankan cooking demonstration. drawing classes, and private tours of the William Morris Gallery. Some of our highlight activities are described below! Central London History Walks, Ukulele Classes and Bereavement groups! Walk Leader Joanna Moncrieff, has Projectto run continued to lead a series of highly beginners popular history walks in central London and on behalf of Age UK Waltham Forest. improvers We have explored the lesser-known Ukulele streets and alleyways of Covent courses Garden, the back streets of Victoria and at our Hub. the gentlemen's clubs of St James. We 39 hosted a further 11 walks this year, individuals attended by 51 service users and plan attended the to hold more again next year. courses and some even joined our Ukulele busk at Kings Cross Christmas 2023. We also ran a popular pottery workshop with Waltham Forest Adult Leaming Service. It was great to see everyone's creativity bloom in this course, with some individuals creating elaborate penguin sculptures and elephant vases. In 2023124 we also established our bi- When consulting with Servi￿ users it monthly bereavement group, which is run by was clear that there was a need for Bridge Bereavement group, formerly of the more creative workshops. This year we Margaret Centre. This group has provided a increased our creative offerings and much-needed space for older people to held many successful workshops and come together and discuss loss with trained courses. We teamed up with many councillors and their peers. partner organisations to make this happen, including the London Ukulele Project. Age UK Wallham Forest Annual ReFrf)rt and Finan¢ial Slaternents for the year ended 31 March 2024 23

Book Club Our Book club has grown, welcoming more new members to share our thoughts and insights about the book of the month. Our books are chosen by the group ranging from renown authors to conLemporary writers and including thrillers, science fiction, humour, romance and revisiting a few classics from time to time. It's a friendly group and the discussions are informal and stimulating. Besides swapping books with each other, the group also formed a quiz team The Bookworms, who always do well at the art and literature rounds! "I wanted to say howmuch I enjoyed my fi.rst visit to the Book Club last Thiirsday. Everyone was so friendly and welcoming I and the discussion was informal and wide rgnging, so e.veryone felt comfortable in contributing. I had immensely enjoyed reading the book by an author previously unknown to me. Over the past ouple of years I've spent so much time on my own. so when I do have any company, it's an absolute joy to share a discussion. with others. Summer Garden Party In August 2023 we hosted our first summer the first time that year! Fab guitarist Glen garden party and baking competition to help entertained us with some great tunes - good raise over £600 for our organisation. enough for some guests to get up and The morning was a truly wonderful event. dance. The Cake Baking competition was won by Helen Lowther and although this was a difficult judging decision by Barry Coidan, Chair of Trustees and his taster companion David Bigham, We enjoyed great weather with the sun Helen was making an appearan￿ for what felt like worthy winner. Age UK Wallham Forest Annual Report and Financial Slalements for the year ended 31 March 2024 24

Life Stories We were also delighted this year to gather 14 life stories from some of our Caribbean elders, and put these into an exhibition - Unheard Stories. Jw3urfvrdhulhd ￿Wah￿ta￿f014oIea{s.Blxn infwyanain 1939. oneof11 mc&trfthwfoodth thwth¥ThlwO•fftd •lithethiltrthhadthm sayiry"hatJpd 15 Idontwanttocany". She caMetoT¢rttlth￿&IQrJye￿5 Iwsbanda busdriw. They n￿￿￿andS4¥ed birthtoand rasing3 thdtheryNstIak¥￿Nl5h￿ puiod50fm#emitykn¥tAft•T ￿￿¥ed￿ LocirwJ back on ho[￿fe50f3I.J•a￿sèYS￿.dnt￿erfva￿ebEkned xhie¥e 50rn** comiryjfrom Age UK Wallham Forest Annual R8POrt and Financial Statements for the year ended 31 March 2024 25

Rose McFarlane proLK4 of her3 thadr•n and knwety gwandChadrn￿ 8Nn In * Oiabeth,Jamaka 1958. one Rose was left with an at age ofl when her Mum and Oad C￿ to Englark Aged 7 she Ilea tololn them wth herslu, looked after M the plarn by ￿ alr "no sw. lots of fog WKI She and Iw 5its ayed wlth thelr Dad. a painter Aftff leaving West Harn CoUeg4 ag•d l O. she ¥Jorked as a telephort bL after facts¥ rn£?yn atwofk she dfflded to ftoffl horne as a rnaclthisc seing au fvind$ 4)f untYffl& she the age of 22 She had had 3 chlldreft. and then on to have 3 mwe wegnancies *thith. tra9ScJlly. she lrt at least partty becwse of poor14HS art Losui9 last baby. Swn, was so rt.tsved and Rose feeb stThgty she wlll I￿ger be supwtssed ty any MWL to the fart that ever)we looks out foreath other In herstreet and kn<p￿ she wNl¥e Age UK Waltham FO￿$1 Annual Report and Financial Stalem8nls for the y&ar ended 31 March 2024 26

Community Fundraising Total Funds Raised: £ 8,845. Throughout the Financial Year 2023124, we organised a variety of fundraising events, each contributing slgnlflcantly to our cause Including: 7 Quizzes and Bingo Nights 15 Stalls at local events Plant Fayre Summer Garden Party Christmas Paty Sponsored events: Volunteers took part in the London Amadiyah Peace Walk, Miles Probyn ran the Leeds Marathon, Francis Pick strolled the Thames Walk and John Finn raised sponsorship through a Wings Walk experience. South Chingford Jumble Trail: The first-ever event fostering community spirit and fundraising; the Suc￿sS of the event could not have achieved without the support of French Connection Head office donating a pallet of clothing. Online campaigns including Don't Send Me A Card and Easy Fundraising Looking ahead, future fundraising goals are centred around expanding our reach, increasing revenue streams, and enhancing community engagement. As demonstrated by the range of fundraising activities we have taken part in we are committed to continuously innovate and evolve our fundraising activities. Individual donations We saw a small rise in individual donations this year. To everyone, we say 'thank you,; your contributions make a differenc8. We r8C8ived £33,271 in donations from April 2023 to March 2024. This year, we are incredibly grateful for new and developing partnerships formed with local organisations such as Stow Brothers Estate Agency, Bluebird Care Homes, Morgan Sindall Builders. fellow charities such as Organic Lea, Love South Chingford, William Morris Big Local and schools such as St Mary's C of E Primary School as well as the London Borough of Waltham Forest Council. Their support through fundraising, donations, and volunteering has been invaluable in advancing our mission. Age UK Waltham Forest Annual Report and Financial Statements for Ihe year ended 31 March 2024 27

FINANCIAL REVIEW Flnancialperformance Total income for the year amounted to £656,133 (2023 - £522,696). Income from charitable activities increased during the year from £325,256 in 2023 to £334,181 in 2024 reflecting the increase in grants for services to supported isolated or lonely older people or for those experiencing the most negative impact from health inequalities. Expenditure totalled £637,003 (2023- £533,635) for the year with £605,904 {2023- £521,155} being spent on activities in furtherance of the Charity's activities. Full details of these costs can be found in note 5 to the attached financial slatements. Expenditure on raising funds amounted to £31,099 {2023- £12,480). Nel income for the year before other gains and losses was £19,130 {2023- net expenditure of £10,939). As noted below, the charity invested funds totalling £100,100 with CCLA in the COIF Charities Ethical Investment Fund during 2022123. By the end of the year, the value of the investment had increased by £9,434 to £105,460 (2023 - £96,026}. After accounting for this gain, as well as the actuarial loss of £3 (2023- actuarial gain of £34,531) arising in respect of the Charity's pension liability, the charity's funds increased overall by £28,561 (2023- decrease of £15,759). As explained above, Ihe Charity carries out a diverse range of serVi￿S many of which are extemally funded. The nature of these services is such that their continuation is dependent upon the continued receipt of funding should funding not be available then the Trustees will need to take the diffiujlt step of ceasing the provision of certain of the Charity's servi￿$ and if funding becomes available for new ServI￿S in line with our mission, then the Charity will develop them. Reserves policy and financial position Having reviewed the need tor Iree reserves, the Trustees are of the opinion that it is prudent for the Charify to always have an amount approximately equal to be￿een three and six months, exp8nditure on general funds in reserve. The Trustees believe that this will provide sufficient flexibility to cover temporary shortfalls in income caused by timing differences in income flows, adequate working capital to cover core costs (including the additional pension contributions required to fund the pension scheme's deficit reduction plan liability), and will allow the Charity to cope with unforeseen emergencies whilst specific action plans are implemented. The Charity's balan￿ sheet shows total fvnds of £494,894 as at 31 March 2024 (2023- £466,333). All amounts either raised for or the use being restricted to specific purposes were fully expended in the year and therefore the restricted fund balances at 31 March 2024 is £nil (2023- £nil). We have continued to designate £35,000 (2023 £35,000} of our unrestricted fvnds to cover the cost of relocating the charity's Offi￿ in the future plus a staff fund of £63,000 (2023 - £63,000) lo help provide cover for the cost of salaried staff posts that are fundamental to the charity's activities and operations, where external funding may be curtailed or terminated at short notice. The unrestricted general funds of the Charity at 31 March 2024 amounted to £400,730 {2023 - £376,545). Offset against general funds is a pension reserve of £3,836 (2023 - £8,212). The pension reserve has been set aside to represent the present value of the contributions payable as a result of the Charity's deficit recovery agreement with the Pensions Trust's Growth Plan, in which it participates. Age UK Waltham For&st Annual Report and Financial Statements forlhe year ended 31 March 2024 28

Reserves policy and financlal position (continued) At 31 March 2024, the Charity had Yree reserves, of £397,195 (2023- £370,071 } being the general funds after deducting the net book value of tangible fixed assets, i.e. £3,535 {2023- £6,474). At the present time, the Trustees consider the level of free reserves, although greater than the target policy stated above, to be adequate but not ex￿SsiVe. This is especially true given uncertainties that have been created by the current economic conditions, particularly the increasing energy costs, high rates of inflation, and general cost of living crisis being witnessed across the economy which is placing additional pressures on the organisation both directly in ￿sts to the organisation and by older people requirtng our support wilh demand oulstripping our capacity. In addilion, there are also uncertainties that exist with respect to the building the Charity currenlly occupies - when the Charity has to move, it is highly likely rent will increase and there will be costs associaled with a move and settling into new premises {not covered by the £35,000 already designated). The Trustees review the management accounts of the Charity on a regular basis and continually assess the financial position of the Charity in order to take corrective action should problems become evidenl. The Trustees see the Charity as a going COn￿rn, with the ability to continue running for at least one year from the date of Ihese accounts. Investment policy Trustees have continue to invest a portion of our reserves with CCLA, an investh)ent firm who only support Charities, Churches and L￿] Authorities to ensure our reserves are managed appropriately to generale some income to support our work. We have chosen to invest in an Ethical Investment Fund, which may give a lower return on our investment but aligns with our values. The remainder of our reserves are spread amongst several different banks using the CAF Deposit Portal. Fundraising The Charity aims to achieve best practice in the way in which it communicates with supporters. It takes care with both the tone of its communications and the accuracy of its dats to minimise the pressures on supporters. The Charity is registered with the Fundraising Regulator and adheres to the Code of Fundraising Practice, It applies best practi￿ to protect supporters, data and never sells data, it never swaps data with other organisations, and ensures that its communicalion preferences can be thanged at any time. The Charity manages its own fundraising activities and does not employ the ServI￿S of Professional Fundraisers. The Charity undertakes to react to and investigate any complaints regarding its fundraising activities and to learn from them and improve its service. During 2024, the Charity received no complaints about its fundraising activities. FUTURE PLANS As a team of Trustees and staff we are passionate about what we do. We remain committed to providing and developing our local servI￿S to support older people in our borough and we recognise the current challenging climate we are operating in, where there is more demand for our services than funding allows us to provide. During the next there years we aim to.. Maintain and develop our range of quality services based on priorities that matter to older people in our borough. Age UK Waltham Forest Annual Report and Financial Ststemenls for the year ended 31 Marth 2024 29

FUTURE PLANS (continued) Ensure overheads are cost effective and fairfy distributed across services, and maintain and diversify our income. Have a physical presence across the borough with outposts or drop-ins in Walthamstow, LeytonlLeytonstone. Increase awareness of our work (including through developing our Social Media presence) and continue to build our reputation. Provide relevant training and support for our staff to ensure they provide quality services. Work towards securing new suitable premises, preferably in the north of the Borough. Build relats'on5hips with the London Borough of Waltham Forest and Age UK Natianal, network with different organisations and businesses to improve our services, and promote metnbership to increase our members. EMPLOYEES Age UK Waltham Forest celebrates the diversity of the borough's community and strives to be an equal opportunities employer and applies objective criteria to assess merit.11 aims to ensure that no job applicant or employee receives less favourable treatment on the grounds of age, ra￿, colour, nationality, religion, ethnic or national origin, gender, marital status, sexual orientation or disability. Selection criteria and procedures are in place to ensure that individuals are selected, promoted and treated on the basis of their relevant merits and abililies. All employees are given induction and training to enable them to develop their skills and knowledge, Age UK Waltham Forest is committed to a programme of action to make this policy effective, and brings it to the attention of all employees. The Trustees wish to record their thanks to all of the stsff team fortheir loyalty and hard work. Approved by the Trustees and signed on their behalf by: Bary Coidan Chair of Trustees Date: 28 November 2024 Age UK Wallharn Forest Annual Report and Financial Statements for the year ended 31 March 2024 30

Independent auditor's report to the members of Age UK Waltham Forest Opinion We have audited the financial statements of Age UK Waltham Forest (the 'charitsble company,) for the year ended 31 March 2024, which comprise the statement of financial activities, the balance sheet, the statement of cash flows, the principal accounting policies and the notes to the financial slatements. The financial reporting framewoik that has been applied in their preparation is applicable law and United Kingdom Accounting standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice). This report is made solely to the charitable company's members, as a body, in accordan￿ with Chapter 3 of Part16 of the Companies Act 2006. Our audit work has been undertaken so thal we might state to the charitable company's members those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do nol a￿pt or assume responsibility lo anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. In our opinion, the financial statements: give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its income and expenditure for the year then ended. have been properly prepared in accordan￿ wilh United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK} and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities forthe audit of the financial statements section of our report. We are independent of the charitable company in accordan with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtsined is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial ststements, we have concluded that the Trustees, use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions tha( individually or collectively. may cast significant doubt on the Charivs ability to continue as a going concern for a period of at least ￿e1ve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. Age UK Waltham Forest Annual Report and Financial Slaternents for the year ended 31 March 2024 31

Other information The Trustees are responsible for the other information. The other infomiation comprises Ihe information included in the Annual Report and Financial Statements, other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does nol cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any fomi of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether Ihere is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nolhing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the Trustees, report, which is also the directors, report for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements. and the Trustees, report, which is also the directors, report for the purposes of company law, has been prepared in accordance with applicable legal requirements. Malters on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion.. adequale accounting records have not been kept, or retums adequate for our audit have not been received from branches not visited by us., or the financial statements are not in agreement wilh the accounting records and returns; or certain disclosure5 in respect to the remuneration of TNstees specified by law are not made. or we have not received all tho information and explanations we require for our audit. Age UK Waltham Forest Annual Report and Financial Stalernents for Ihe y&ar ended 31 March 2024 32

Trustees, responsibiliti8s {continued) As explained more fully in the Trustees, responsibilities statement, the Trustees (who are also the directors for the purposes of company law} are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or has no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial staternenls as a whole are free from material misslatement, whether due to fraud or error, and to issue an audilor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always d&tect a material misstatement when it exists. Misstatemènts can arise from fraud or error and are considered material if, individually or in the aggregat8, they could r8asonably be expected to influence the economic decisions of users taken on the basis of these financial ststements. Irregularities, including fraud, are instan￿$ of non-compliance with laws and regulations. We design prO￿dureS in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, induding fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. Our approaGh to identifying and assessing the risks of material misstatement in resp8Ct of irregularitl8S, including fraud and non-complianc8 Wlth laws and regulalions, was as follows: + the engagement director ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non<ompliance with applicable laws and regulations; • we oblained an understanding of the legal and regulatory frameworks Ihal are applicable to the charitable company and delermined that the most significant frameworks which are directly relevant to specific assertions in the financial ststements are those that relate to the reporting framework (Statement of Recommended Practice Accounting and Reporting by Charities preparing this accounts in accordance with the Financial reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, and the Companies Act 2006). We assessed the susceptibility of the charitable company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: • making enquiries of management as to their knowledge of actual, suspected and alleged fraud; and considering the internal controls in Pla￿ to mitigate risks of fraud and non-compliance with laws and regulations. Age UK Waltham Forest Annual Report and Financial Stalernents foi the year ended 31 March 2024 33

Auditor's responsibilities for the audit of the financial statements (continued) To address the risk offraud through management bias and override of controls we: + performed analytical prO￿dureS to identify any unusual or unexpected relationships,. performed subslantive testing of expenditure including the authorisation thereof,. + tested journal entrres to identify unusual transactions. and assessed whether the judgements and the assumptions made in determining accounting estimates for the valuation of the defined benefit pension scheme deficit reduction plan liability, the useful economic lives of tangible fixed assets and Ihe estimations of future income and expenditure flows were indicative of potential bias. In response to the risk of irregularities and non-compliance with laws and regulations, we designed prO￿dureS which included, but were not limited to: reading the minutes of meetings of those charged with governance; and enquiring of mana9ement as to actual and potential litigation and claims. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non<ompliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the Trustees and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect Ihan those that arise from error as they may involve deliberate COn￿a]ment or collusion. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www,frc.or .uklaudilorsres onsibilities. This description forms part of our auditor's report. Age UK WaKhaffl Forest Annual Report and Financial Statemerrts for the year ended 31 March 2024 34

Use of this report This report is made solely to the charitable company's Trustees, as a body, in accordance wilh Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might stste to the charitable company's Trustees those matters that we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company's and the cornpany's Trustees as a body, for our audit work, or the opinions we have fomed. Gumayel Miah (Senior Statutory Auditor) For and on behalf of Buzzacott LLP Statutory Auditor 130 Wood Street London EC2V 6DL DATE: 29 November 2024 Age UK Waltham Forest Annual Report and Financial Ststsrnents for th8 year ended 31 March 2024 35

Statement of flnancial activities Year to 31 March 2024 DRAFr Unrestricted R88tricted funds funds Totsj Unreslrfcted Reslric18d 2024 funds funds Total 2023 Notes In¢ome from.- Grants. donations 8nd legacies Other Iradlng activities Interest r8ceivable Charltabla 8CtiYities Improving the lives of older p8op18 in the London Borough of Walth8m Forest Other Sources Total In¢ome 50,057 20.457 13.516 235,694 6S0 285.751 21.107 13.516 64.986 11.045 3.102 117,087 1B2.073 11.045 3,102 265.240 1,578 350,848 68.941 334,181 1,578 656,133 243,377 1.220 323,730 81,879 325.256 1.220 522.696 305.285 198,966 Expenditure on: Rai%rrg fvnds Charitable activthes Improving the liv85 of oldar w)ple in the Londm Borough of Waltham Forest Totsl exp•nditur• 31,099 31,099 12.480 12.480 300.619 331.718 305285 305.285 605.904 637.003 322.789 334,669 198.966 198,968 521.155 533,635 Net In¢omellexp8ndltur•) bofor8 Investmont gaIn￿￿OsSeS1 19,130 19.130 110,9391 110,9391 Net gainslllossesl on listed investments 11 9,434 15.039) 15,0391 Net Incom•l{exp8ndl¢urel 28,564 28.564 115,9781 115.9781 ot￿r rocognlsed 9ains and losses Acluarial Ilossesygalns 19 131 219 219 Net rnovem￿t In funds 28,561 28,581 115,7591 115,7591 Reconclllatlon of funds Funds brought fward As at 1 April 2023 466,333 466.333 482,092 482.092 Funds carried forward As at 31 March 2024 494.894 494,894 466.333 466.333 All of the Charity's activities during the above two financial periods derived from continuing operations. I recognised gains and losses are included in the above statemerit of financial activities. Age UK Waltham Forest Annual Report and Financial Statements for the year ended 31 March 2024 36

Balance sheet 31 March 2024 2024 2024 2023 2023 Notes Fixed assets Tangible assets 10 3,535 6,474 Investments 11 96.026 105,460 108,995 102,500 Current assets Debtors Short term deposits Cash at bank and in hand 12 46,002 368.812 60,646 475,460 25,028 279,180 133,930 438,138 Creditors.. amounts falling du within one year Net ¢urrent assets 13 (85,725) 166.0931 389,735 372.045 Total net assetslgss current liabilities 498,730 474,545 Provisions for Ilabllities 14 13,836) 18.212) Tolal net assets 494,894 466,333 The fund$ ofthe Charity: Restricted funds Unrestricted funds Designated funds - General funds . Pension reserve 15 16 17 19 98,000 400,730 {3,836) 98.000 376,545 18,2121 494,894 466,333 Signed on behalf of the board of Trustee5 by- Barry Coidan Chair of Trustee5 Age UK Waltham Forest, Company Limited by Guarantee Registration Number 02334459 (England and Wales) Date: 28 November 2024 Age UK Wallham Forest Annual Report and Flnancial Statements for the year ended 31 March 2024 37

Statement of cash flows Year to 31 March 2024 2024 2023 Notes Cash flows trom operatlng a¢tlvities: Net cash promded byllused inl operating activities 4.559 126,137) Cash flows from inv05ting a¢tivities: Interest re￿IVed Investment in short term deposit Purchase of tangible fixed assets Net cash used in investing activities 13.156 3,102 189,679) {279.180) 11,320) 177,843} 1276.0781 Change in cash and cash equivalents in the year {73.284) 1302,2151 Cash and cash equivalent5 at 1 Aprll 2023 133.930 436.145 Cash and cash equivalents at 31 March 2024 60,646 133.930 Notes to the statement of cash flows for the year to 31 March 2024 A Reconciliation of net movement in funds to net cash provided by operating activlties 2024 2023 Net movement in funds las per the statement of financial activitles) Adjustments for.. Depreciatlon charge Interest ￿CeiVable Net {gainslAosses on investments Increase in debtors Increaselldecreasel in creditors Decre8se in pension provision Net cash provided byl(used inl operatlng actlvltles 28,561 {15,759) 4,296 (13,1561 (9,424) (20,974) 19,632 {4,3761 4.559 3.994 (3,102} 5,039 (7,7161 13,923) 14.670) 126.137) B Analysis of change5 in net debt 2023 Cash flows 2024 Total cash and cash equivalents: Cash al bank and in han¢ 133,930 133,930 173,284) 173,2841 60.646 60.646 Age UK Wallham Forest Annual Report and Financial Statements for the year ended 31 March 2024 38

Prlnclpal accounting pollcles 31 March 2024 The principal accounting policies adopted. judgements and key sources of estimation uncertainty in the preparation of the financial statements are laid out below. Basis of preparation These financial slatements have been prepared for the year to 31 March 2024 with comparative information givan in respect to the year to 31 March 2023. Th8 financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless othejwise stated in the relevant accounting policies below or the notes to these financial statements. Th8 financial statements have b8en 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 United Kingdom and Republic of Ireland (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The Charity constitutes a public benefit entity as defined by FRS 102. The financial statements are presented in sterling and are rounded to the nearest pound. Critical accountlng estimates and areas of Judgement Preparation of the financial statements requires the Trustees and management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made include: • determining the basis for allocating support costs: estimating the useful economic life of tangible fixed assets for the purpose of determinlng an annual depreciation charge; • determining the deficit on the defined benefit pension scheme using actuarial assumptions advised by the scheme trustees and actuary; and estimating future income and expenditure flows for the purpose of assessing going concern (see below). Assessment of going concern The Trust8es have assessed whether the use of the going concem assumption is appropriate in preparing these financial statements. The Trustees have made this assessment in respect to a period of al least one year from the date of approval of these financial statements. As Age UK Waltham Forest does not have significant long term funding, the validity of this assumption depends upon the charity obtaining funding in the future and on its ability to contain Age UK Waltham Forest Annual Report and Financial Ststements for the year ended 31 March 2024 39

Prlnclpal accounting policies 31 March 2024 Assessment of going concern (continued) expènditure. The trustees continue to seek new funding and communicate regularly with key funders. they are confident that the charily will be successful in continuing to attract additional funds. The trustees continue to review the activities of the charity and related expenditure with a view to reducing costs wherever possible. To ensure a clear picture of finances is available at all times, management has crealed a monthly rolling cash-flow forecast covering a tW81v8 month period which is reviewed by and discussed with the Trustees. Whilst the Trustees acknowledge that there are undoubtedly challenges ahead, particularly in the context of the current wider economic Conditions. including the cost of living crisis and high rates of inflation. the Trustees do not believe that there are any events or conditions that may cast a significant doubt over th& Charity's ability to operate as a going concem for a period of at least 12 months from Ihe approval of these account5. As a result. the Trustees believe it is appropriate for the financlal statements to be prepared on a golng con¢em basis. Income re¢ognltion Income is recognised In the period in whl¢h the Charity has entitlement to the income and the amount can be measured reliably and it is probable that the income will be received. Income is deferred only when the Charity has to fulfil ¢ondltlons before becomlng entitled to it or where the donor or funder has specified that the income is to be expended in a future accounting period. Income comprisès donations and legacies, income from trading activities. interest receivable, grants towards charitable activities and sundry income. Donations and grants are recognised whèn the Charity has confirmation of both the amount and settlement date. In the event of donations or grants pledged but not received, the amount is accrued for where the receipt is considerèd probable. In the event that a donation or grant is subject to conditions that require a level of perfomiance before the Charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the Charity and It is probable that those conditions will be fulfilled in the reportlng perlod. In accordance with the Charities SORP FRS 102 volunteer time is not recognised. Legacies are induded in the statement of financial activities when the Charity Is entilled to the legacy, the executors have established that there are sufficient surplus assets in the estate to pay the legacy, and any conditions attached to the legacy are within the control of the Charity. Entitlement is taken as the 8arti8r of thè date on which 8ith&r: th& Charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor to the Charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the Charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the Charity. Age UK Wallham Forest Annual Report and Financial Ststements for the year ended 31 March 2024 40

Principal accountlng policie5 31 March 2024 Income recognition (continued) or the Charity is aware of the granting of probate. but the criteria for income recognition have not been met. then the legacy is treated as a contingent asset and disciosed if material. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the tille of the asset having being transferred to the Charity. Income from trading activities, including the hire of facilities, is recognised to the extent that it is probable that the economic benefits will flow to the Charity and the rev8nua can be measured reliably. It is measured at the fair value of the considaration received or receivable, excluding any discounts or rebates. Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid of payable by the bank. Granls from government, other agencies and voluntary bodies have been included as income from charitable activities where these amount to a contract for services, but as donations where the money is givèn in response to an appeal or with greater freedom of use, for axample monies for core funding. Expenditure and the basis for apportioning costs Liabilities are recognised as expenditure as soon as there is a legal or constructive obllgation committing the Charity to make a payment to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure comprises the following.. + The cost of raisin9 funds include the salariès. direct costs and overheads associated with generating voluntary income; and • The costs of charitable activities comprise èxpendtture on the Charity's primary charltable purposes as described in th8 Trustees, report. Allocation of support and governance costs Support costs repr8s8nt indirect charitable expenditure. In order to carry out the primary purposes of the Charity it is necessary to provide SUPF)Ort in the form of personnel development, financial procedures. provision of office services and equipment and a suitable working environment. Governance costs comprise the costs involving the public accountability of th& Charity (including audit costs) and costs in réspect to its complianc8 with regulation and good practice. Support costs and governance costs ar8 apportioned using percentages bas&d on the direct expenditure incurred on the acttvities the Charity. Age UK Waltham Forest Annual Report and Financial Statements for the year ended 31 March 2024 41

Prlncipal accounting policies 31 March 2024 Tangible flxed assets All assets costing more than £250 and with an expected useful life excaading one year are capitalised. Depreciation is provided at the following annual rates on a straight-line basis in order to write off each asset over its estimated useful life: + Furniture and equipment 25/. + Computers 250/0 Investments Listed investments are a fomi of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. Realised gains (or losses) on Investment assets are calculated as the difference between disposal proceeds and their opening carrying value or their purchase value rf acquired subsequent to the first day of the finanGial year. Unrgalised gains and 1055es are calculated as the differ8nc8 be￿een the fair value at the year-end and their carrying valua at that date. Realised and unreali5ed investment gains (or losse5) are combined in the statement of financial activities and are credited (or debited) in the y8ar in which they arise. Debtors Debtors are r8cognised at their settlement amount. less any provision for non-recoverability. Prepayments are valued at the amount prepaid. They have been discounted to the present value of the future cash raceipt where such discounting is material. Cash at bank and in hand Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of18SS than three months from the date of acquisition. Deposits for more than three months but lass than one year have been disclosad as short-term deposits. Cash placed on deposit for more than one y8ar is disdosed as a fixed asset investment. Creditors and provisions Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlemen( and the amount of Ihe settlement can be estimated reliably. Creditors and provisions are recognised at the amount the Charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material. Age UK Wallham Forest Annual Report and Financial Statements for thg year ended 31 March 2024 42

Principal accountlng pollcies 31 March 2024 Fund structure The restrl¢ted funds are monles raised for. and their use restricted to, a specific purpose. or donations subject to donor-imposed conditlons. The designatad funds are monies set aside out of general funds for specific purposes by the Trustees. The unrestricted funds comprise those monies which may be used towards meeting the charitable objectives of the Charity and which may be applied at the discretion of the Trustees. Leased assets Rentals applicable to operating leases where substantially all of th8 benefits and risks of ownership remain with the lessor are charg8d to the slatement of financial activities on a straight-line basis over the lease tenn. Penslon costs The growth plan pension scheme is a multi-employer scheme providing benefits for some 1.300 non- associated ernployers. It Is therefore not possible to identify the underlying share of the Charity's assets and liabllities within the scheme. However, as a member of the scheme, the Charity has a legal obligatlon to make pension deficit reduction payments when required by the scheme's actuary. The full cost of these repayments, dls¢ounted to present values, is recognlsed in the year a pension daficit reduction plan is agreed. Age UK Waltham Forest Annual Rewrt and Financial Statements for the year ended 31 Mar¢h 2024 43

Notes to the financial statements 31 March 2024 1 Income from: Grants, donatlons and legacles Totsl funds 2024 Totsl funds 2023 Unrestrlctsd Restricted fiinds funds Unre51ricted R8slricled funds funds Donatlons and legacie5 General donations Legacies 33.271 33,271 24,380 30.606 54,986 24.380 30.606 54,986 33.271 33,271 Age UK National grants National partner grant other Age UK NatlDnal grants Fund raiser role 10.000 10,000 42,014 14,852 66,866 10,000 lo.￿0 39,580 14,853 64,433 42.014 14.852 56.866 39,580 14,853 54.433 10,000 10,000 Othergrants National Lottery Cost of Llving Grant Mercers Grant Wallhamstow & Chingford Alrns Houses Co Op Local Community Fund B&Q M¢ Apine Grant Masonic Grant Sky Veterans Grant Charfes French Winlgr Wellness Big Ideas Grant Age UK East London Age UK London UK Enfield Power Partners CAB Soaal Prescribing Wallham Forest Sports England Fltnoss 67.825 32,983 8.847 67.825 32,983 8,847 6.786 6.260 5.000 5,000 2,500 2.500 850 8,940 3,616 14,487 6,786 6.260 5.000 s,000 2,500 2.500 850 8.940 3.616 14.487 16,355 9,287 29,696 7.316 16,355 9.287 29,696 7,316 20.020 20,020 6.786 178.828 185,614 62,654 62,654 50,057 235,694 285.751 64,986 117,087 182.073 2 Income from: Other trading activities Total fvnds 2024 Totsl funds 2022 Unrestrict&d R•stricted funds funds Un￿StriCted Restricted funds funds Sundry fundraising Ilnc Fund raiser) Moating rc#yn hire 8.195 12,262 20.457 650 8,845 12,262 21,107 6.727 4.318 11,045 6.727 4.318 11.045 650 Age UK Wallham Forest Annual Report and Financial Statements for the year ended 31 March 2024 44

Notes to thè financial statements 31 March 2024 3 Income from: Charitable activltles- Improvlng the lives of older people in the London Borough of Waltham Forest Total funds Unraslricled Reslricled 2024 funds funds Total funds 2023 Unrestrlcted Rèstrletèd funds funds UK Government. Local Authority. and NEL ICB contracts and grant5 B￿ance and Exerc158 Befriending I Volunteering Other Local Authority incorne 30.840 126,144 30.840 126.144 68,941 225,925 30.840 156.484 30.840 156,484 81,879 269,203 68,941 68,941 81.879 81,879 156.984 187,324 Other Income from charitable activities Classes and activitie5 Hairdressing and foo)I scare Other inca)me 27,512 12,034 200 39.746 27,512 12,034 200 39.746 21.751 12,698 21,751 12.698 34.449 34.449 Home support services Handyman and Help al Horne 68,510 68,510 68.510 68.510 21.604 21.604 21.604 21,604 265,240 68.941 334,181 243,377 81,879 325.256 4 Expenditure on: Ralsing fund5 Unrestricted lunds Total Total fund$ funds 2024 2023 Staff costs and consultsncy Alocation of support Costs (note 6} 29.999 1.100 31,099 11.775 705 12.480 Age UK Waltham FO￿$t Annual Report and FinancSal Statements forthe year 8nd8d 31 March 2024 45

Notes to the financial statements 31 March 2024 S Expendlture on: Improving th8 Ilves of oldèr people In the London Borough of Waltham Forest Total funds Unrestricted Restricted 2024 funds funds Total funds 2023 UnrestrlGted Restrletad funds funds Centralseryices Staff costs P￿Mises, equipment and insurance Postag8, Stationery and telephone Staff recruilmenl and training IT costs Miscellaneous costs 36.190 18,80S 12,125 13,846 50.036 18,80S 12,125 35.025 1T.245 g,374 715 6.831 6,525 75,715 25.774 60.799 17.245 9.374 715 6,831 6,525 101.489 7.528 21.463 96,111 7,528 21,463 109,957 13.846 25,774 Infom7ation andAdvice staff costs Premises, 8quipmenl and insurance Travel and v8hicl8 c05ts Postsge, station8ry and telephone Staff recruitment and training Miscellaneous costs 55.197 11.225 3.008 208 5.784 66.422 3,008 208 5,784 18,705 2.052 47,717 66,422 2.052 115 6.721 204 6.977 82.491 115 6,721 204 3,410 23.635 3,410 78,832 6,977 34,455 55.197 48,036 Active Ageing and Silver Surfers Staff costs Premises, equipment and insuranc8 Trav&1 and vghide wsts Postaga. ststionery and telephone Uasses and events staff recruitment and training Publicity Miscell8n8ou$ ¢osIs 11,283 40,089 8SO 196 1,039 SO,497 148 51,372 850 196 1,039 50,497 148 30,897 2.121 529 819 27.436 58,333 2,121 529 819 43.618 272 4.904 3,501 114.097 43.618 272 868 93.687 868 104.970 3,501 38.139 11,283 75.958 Befrfendlng staff costs DI￿¢1 PUff*ase8 Prernises. equipment and insurance Travel and vehicle costs Postage, statiDnery and telephonè Staff rectuitm8nt and training Miscellaneous cost5 51.7S8 43,971 4.838 4716 735 4875 95.729 4,838 4,716 735 4,875 99,551 99,551 4.243 1,653 3,749 1,075 5,519 115,790 4.243 1.653 3.749 1.075 6.756 117.027 3.937 63,072 3,937 114,830 1.237 1,237 51,758 Age UK Waltham Forest Annual Report and Financial Stslemonts for the year ended 31 March 2024 46

Notes lo the financial statements 31 March 2024 5 Expendlture on: Improving the Ilves of older people in the London Borough of Waltham Forest (continued) Total funds Unrestricted Restricied 2024 funds funds Total funds 2023 Unrastricted R•striet•d funds funds Communlty Sotvlcgs Staff costs P￿t￿lSeS. equipment and insurance Travel and vehicle costs Postage, stats'onery and telephone Staff reuuitment and training Miscellaneous costs 30.977 65,150 3,191 929 1.243 4.927 5.105 80,545 96.127 3,191 929 1,243 4,927 5,105 111,522 5.674 859 45,581 183 71 51.255 1.042 71 1,306 14,811 22,650 1,306 14,811 68.485 30.977 45.835 Veterans Sorwle•s staff costs Dirèct Purchases Prem£sgs. equiprnenl and insurance Postage. slalionery and telephone Miscellaneou8 costs 17,469 117 1.054 717 1.011 20,368 17,469 117 1,054 717 1,011 20,368 Warm Homes Direct purchases 10.132 10,132 10,132 10,132 2,125 2.125 2,125 2,125 Allocatlon of support costs (not8 6) SS,293 $5,293 35,440 35,440 300,619 305.285 605,904 322,189 198,966 521,155 6 Support costs The support costs incurred during the year to 31 March 2024 and the bases of their allocation were as follows: Raising Charitable funds ctivities 2024 Total Ba515 of ortionment Staff costs Depreciation AccounlancylProfessional fees Govemance costs 403 20.240 4.212 14,891 15.950 55.293 20.643 Pro rala direct expenditure 4,296 Pm rnla direct expenditure 15.187 Pro reta direct expenditure 16.267 Pro rata dir8cl expenditure 56.393 296 317 1,100 Age UK Waltham Forest Annual Report and Financlal Statements for the year ended 31 March 2024 47

Notos to the flnancial statements 31 March 2024 6 Support costs Raising Charitable fund$ 2023 Total 88sis of ortionmenl Staff costs D8preciation A￿ountancylProfesSIonaI fees Governanc& costs 389 78 19.540 3,916 19,929 Pro ￿ta direct expenditurg 3.994 Pro ￿ta dirgcl expenditure Pro rala direct eX￿nditure 12,222 Pro rata dlr8ct expenditure 36,145 238 705 11,984 35.440 7 Nel expenditure Thls is stated after charging: Total 2024 Total 2023 Staff costs Inole 8) Audltorfs remuneratlon Depreualion Operating lease rentsls Equipment 8 Staff costs and Trustees, remuneration 430,311 14,400 4,260 368.465 11,000 3,994 961 Total 2024 Total 2023 Wages and salaries Sodal security costs Other pension costs 395,313 20,873 14,125 430,311 340.409 14,811 13,245 368,465 Staff costs per function were as follows: Total 2024 Total 2023 Direct activities Raising funds . Charitable activities Support a￿1vItIeS (note 6) 29,999 379,669 20,643 430,311 11.775 336,546 20,144 368,465 The averag8 number of employees during the year, analysed by function. was.. Average head¢ount 2024 2023 Full Time Equivalent 2024 2023 Direct activities . Gen&rating voluntary income Charitable activities {direct and support) 31 32 22 23 13 14 12 13 Age UK Waltham Forest Annual Report and Financial Statements for the year ended 31 Mard) 2024 48

Notes to the financlal statement5 31 March 2024 8 Staff ¢osts and Trustees. remuneratlon No employee earned over £60,000 per annum (including taxable benefits but excluding employer pension contributions) during the year (2023 - none). No trustee received any remuneration in respect to their services as a Trustee during the year (2023 - £nil) and no trustee received any reimbursement of expenses (2023- £nll). The key management personnel of the Charity in charge of directing and controlllng, running and operating the Charlty on a day-toryday basis Comprise the Trustees, together with the Chief Execulive. The total remuneralion (including taxable benefits. employerfs pension contributions and employer's natlonal insurance contributions) payable to key management personnel during the year was £48,310 (2023 - £47,100). This figure comprised gross salary of £42,436 (2023 - £41,200). employer's penslon contributions of £1,273 (2023 £1,236), and national insurance contributions of £4.601 (2023 £4,664). 9 Taxatlon Age UK Waltham Forest is a registered charity and. therefore, is not liable to income tax or Corporation tax on incom8 derived from its charitable activities. as it falls within the various exemptions available to regist8red charities. 10 Tangible flxed assets Furniture and equipment Computers Total Cost At 1 April 2023 Additions At 31 March 2024 5.341 40,417 1.320 41,737 45,758 1,320 47,078 5,341 Depreclatlon At 1 April 2023 Charge for year At 31 March 2024 5,341 33.942 4,260 38,202 39.283 4,260 43,543 5,341 Net book values At 31 March 2024 Al 31 March 2023 3,535 6,474 3,535 6,474 Age UK Waltham Forest Annual Report arHJ Finan¢ial Statements for the year ended 31 March 2024 49

Notes to the financial statements 31 March 2024 11 Investments Total 2024 Total 2023 Llst&d investments Market value brought forward Unrealised gainslllosses) on revaluation Market value carried forward 96,026 9,434 105,460 101,065 (5.0391 96,026 Cost of listed investments 100,100 100,100 Listed investments at 31 March 2024 wholly comprised holdings in CCLA'S COIF Charities Ethical Investment Fund Income Units. 12 Debtors 2024 2023 Grants and fees receivable Prepayments and other accrued income 28,385 17,617 46,002 20,466" 4.562 25.028 13 Creditors: amounts falling due withln one year 2024 2023 Expense creditors Other Creditors Accnjals Deferred Income Social securily and other taxes 13,191 2,764 61.018 2,487 6.265 85,725 10,162 2,575 30,677 17.072 5,607 66,093 Deferred income at 31 March 2024, in the main, compnses room hire fees paid in advance and advan funding received from LB of Waltham Forest. Age UK Waltham Forest Annual ReFX)rt and Financial Stalements for the year ended 31 March 2024 50

Notes to the financial statements 31 March 2024 14 Provlslons for Ilablllti8S 2024 2023 Provision for pension scheme defi¢lt reductlon payments (note 18) Payable wllhln one year . Payable wlhin one to years 3,836 4.693 3.519 8.212 3,836 In accordance with FRS 102, the Charty must recognise a liability measured a5 the present value of the Gontributions payable that arise from the deficit recovery agreement and the resulting expense in the statement of financial aGtivities i.e. the unwinding of the discount rate as a finance cost in the period in which it arises. Further details in relation to the liability are provided at note 19 to the financial statements. Age UK Waltham Forest Annual Report and Financial Stslements for the year ended 31 March 2024 51

Notes to the flnancial statement5 31 March 2024 15 Restricted funds The income funds of the Charity include restricted funds comprising the following balances of donations and grants held on trusts to be applied for specrfic purposes: At 1 April 2023 At 31 March 2024 Income Expenditur¢ Information and Advice Age UK (Emanuel Hospitsll Wallhamstow & Chingford Alms Houses National Lotlpry Cost of Living Grant CAB Waltham Forest LB of Waltham Winter Response LB of Wallham Forest I&A services 12,500 8.847 67,825 20,019 13,380 6,393 112.500) 18,8471 167,825} 120,019} 113,380} (6.393) Active Ageing Age UK Cost of Living LB ofwallham Forest Community Llving Room LB ofwallham Forest Tech Tea Parbes LB of Waltham Forest Digital Inclusion LB of Waltham Forest Walking and Cyding Fund LB Wallham Forest Walklng Football Sky Grant 4.023 10.000 364 9,968 4,375 3,616 2,500 14,023) 110,000) {364) (9,9681 14,3751 13.6161 (2,5001 Communlty servlce$ Age UK Cost of Living 13,293 (13,293) Befriendlng LB of Waliham Forest Wind rush events LB of Wallham Forest Community Ward lunding LB of Waltham Forest Black History month me￿rS Foundation 2,750 1,170 2.000 32.983 (2.750) 11,170 12.000) (32,983) Winter Wamith Charfes French Winter Wpllnes5 Age UK Winter Warrnth LB of Waltham Forest Winter response 2,500 7,014 5.292 12,500) {7,014) {5,292) Veteran5 Age UK Enfield Big Ideas Grant Age UK Cost of Living LBWF Ward Funding Veterans outing 14.487 850 1,986 70 (14.48T) 1850) 11.986) 170) Age UK Waltham Forest Annual Report and Financial Ststements for the year ended 31 March 2024 52

Notes to the financial statements 31 March 2024 Other restrlcted funds Age UK East London B&Q funding for building refurbishment SundrylFundraiser income Mc Alpine Fund for recruitment Masonic Grant LBWF Community Ward-volunleer Grant LB Winter Response Community Fundraiser Funding Age UK London 8,940 6.260 650 5,000 5,000 4,526 11,852 14,852 305,285 18,940) 16,260) {650) 15,000) 15.000) 14,5261 111,8521 114,8521 1305,2851 • Infonnation and Advice These balances represent amounts received from various government and non-government sources as noted above to support the provision of our Infomiation and Advice service5. • Active ageing These balances represent amounts received from various government and non-governmenl sources as noted above to support the provision of recreational activities for our beneficiaries. Communlty services This represents amounts receNed from Age UK and Health ServiGes to provide support services to our beneficiaries within the Borough. + Befriending This represents amount received from the London Borough of Waltham Forest to celebrate the culture and history of our Black Befriending Clients • Winter warmth These balances represent amounts received from Age UK to support with the provision of "wamith packs- lo the poorest older adults in Waltham Forest to better protect them from the effects of cold weather. • Veterans These balances represent amounts received from various grants to support with the provision of services and activites specifically for veterans of our anned forces now living in Waltham Forest • Other restricted funds These balances represent smaller amounts received from various other donors, the use of which is restricted to specific objects or activities as specified by the donor such as the employment of a community fundraiser. Age UK Waltham Foiesl Annual Report and Financial Statements for the year ended 31 March 2024 53

Notes to the financlal statements 31 March 2024 At 1 Aprll 2022 Al 34 March 2023 Incomo Expenditurn Infomiation and Advlce Age UK Power Partners CAB Waltham Forest LB of Waltham Forest 5,625 9.287 29.696 3.428 (5,625) (9.287) (29.696) (3,428) Actlve agelng Age UK Enfield Age UK LB of Waltham Forest Sport England 16.356 11.273 40.652 7,316 (16,356) (11.273) (40.652) {7,316) Community servlces Age UK London Age UK LB Wallham For8St 11,412 2.700 25.188 (11.412) (2,700) (25.188) Befrlending LB of Waltham Forest 1.688 (1,688) VVlnt•r Warmth Age UK 8,571 (8,571) othor rèstricted funds Age UK LB Waltham Forest Age UK London 1,710 9.211 14.853 198,966 (1,710) (9.211) 114,8531 (198.966) Age UK Waltham Forest Annual R8POrt Flnancial Statements for the year ended 31 March 2024 54

Notes to the financial statemants 31 March 2024 16 Designated funds At1 April New 2023 dosignations At31 March 2024 Utilisedl released Shop Premises Fund Staff Fund 35,000 35,000 63.000 63,000 98.000 98.000 The Shop Premises Fund represents funds set aside towards the start-up costs of the new planned charity shop, scheduled for 2024125. The Staff Fund has been set aside to help provide cover for the cost of salaried staff posts that are fundamental to the charity's activities and operations, where external funding may be curtailed or terminated at short notice. We expect to spend these funds in 2025. At1 Aprfl New 2022 designations A131 March 2023 Utilis9dl released Relocalion Fund Staff Fund 35,000 63,000 98,000 35,000 63.000 98,000 17 Analysls of net assets between funds Fund balances al 31 March 2024 were represented by: General Doslgnatsd Restrlctèd funds funds funds Total 2024 General Designated Restricted funds funds funds Total 2023 Fund balances at 31 March 2024 ar• reprèsented by: Tangibla fixed assets In￿tments Met current assets Provisions for li8bililies Total funds 3.53S 105,460 291.735 13,B361 396.894 3,535 105.460 389,73S 13,8361 494,894 6.474 96,026 274.045 16,2121 368,333 6.474 96,026 372.045 18,212} 466.333 98,000 98.000 98.000 98,000 18 Operating lease commitments At 31 March 2D24, the Charity had total minimum commitments in respect to non-cancellable operating lease5 as follows-. Land and buildings 2024 2023 Operating leases payments: Within one year 961 961 Age UK Waltham Forest Annual Report and Financlal Stslements for the year ended 31 March 2024 55

Notes to the financial statements 31 March 2024 19 Penslon costs The Charity participates in The Penslons Trust's Growth Plan (the Plan). The plan is a multi-employer scheme which provides benefits to some 638 non-associated participating employers. The scheme is a defined benefit scheme In the UK. It is not possible for the Charity to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore it accounts for the scheme as a defined contribution scheme. The schema is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council, set out the framework for funding defined benefit occupational pension schernes in the UK. The scheme is classified as a 'last-man standing arrangement,. Therefore. the Charity is potenlially liable for other participating employers, obligations if those employers are unable to meet their share of the scheme deficit following withdrawal from the scheme. Participating employers are legally required to meet their shar8 of the scheme d8ficit on an annuity purchase basis on withdrawal from the scheme. The Charity has been notified by The Pensions Trust of the estimated 8mploy&r debt on withdrawal from the plan based upon the financial position as at 30 September 2023. As of this dat8, the estimated share ofthe employer debt for Age UK Waltham For8St was £56.086. A full actuarial valuation for the scheme was carri8d out at 30 September 2020. This valuation showed assets of £800.3m, liabilit18s of £831.9m and a deficit of £31.6m. To eliminate this funding shortfall, the Trustee has ask8d the participating 8mploygrs to pay additional contributions to the scheme as follows: Deficit contrlbutlon5 From 1 April 2022 to 31 January 2025: £3,312,000 per annum The recovery plan contributions are allocated to each participating employer in line with their estimated shar8 of the Series 1 and Series 2 scheme liabilities. Where the scheme is in deficit and where the Charity has agreed to a deficit funding arrangement, the Charity recognises a liability for this obligation. The amount recognised is the net present valuè of the deficit reduction contribution5 payable under the agreement that relates to the deficit. The present value is calculated using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a finance cost. Present values of provision 31 March 2024 31 March 2023 31 March 2022 Present value of provision 3,836 8.212 12.882 Age UK Waltham Forest Annual Report and Financial Stalernents for the year ended 31 March 2024 56

Notes to the financial statements 31 March 2024 19 Pension costs (contlnued) Reconcillatlon of opening and closlng pmvlslons 2024 2023 Provision at start of period Unwinding of thp discount factor Deficit contribution paid Re-measurements - impact of any change in assumptions Re-measuremen15- amendments to the contribution schedule Provision at end of period 8.212 314 (4.6931 12.882 242 (4.693) (219) 3,836 8.212 Impact on the statement of financial activities 2024 2023 Inlerest expense Re-MeaSu￿rnents- impact ofany change in assumptions Remeasurernents- amendments to th8 contribution schedule {CrediVGainsl ExpenditurelLosses recognised in statement of financial acllvities 314 242 {2191 317 23 Assumptions 31 March 2024 31 March 2023 /0 per annum 31 March 2022 /0 per annum annum Rale of discount 5.02 5.52 2.35 The discount rates shown above are the equivalent single discount rates whlch, when used to discount Ihe future recovery plan contributions due, would give the same results as using a full AA corporate bond yield curve to discount the same recovery plan contributions. 20 Liability of member5 In the event of the charitable company being wound up during the period of membership, or within the yearfollowing, members are required to contribute an amount not exceeding £1. 21 Related party transactions The total value of cash donations made by the Trustees to the Charity during the year was £885 (2023- £nil). other than those transactions described in note 8 and above, there were no other related party transactions during the year (2023- none). Age UK Waltham Forest Annual Report and Financial Slal8rnents for the year ended 31 March 2024 57