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← Age UK Waltham Forest

2025-03-31-accounts

AGE UK WALTHAM FOREST

ANNUAL REPORT AND FINANCIAL STATEMENTS 31 MARCH 2025

CHARITY REGISTRATION NUMBER 1048212

COMPANY LIMITED BY GUARANTEE REGISTRATION NUMBER 02334459 (ENGLAND AND WALES)

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Reports Reference and administrative details 3 Chair’s Introduction 4 Trustees’ report 5 Independent auditor’s report 39 Financial statements Statement of financial activities 43 Balance sheet 44 Statement of cash flows 45 Principal accounting policies 46 Notes to the financial statements 50

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About us

Trustees Barry Coidan Chair

Richard Freitag Honorary Treasurer

Andy Barrick

Pauline Martindale

Yvonne O’Sullivan (resigned 20th July 2025)

Leo van der Borgh

Tanya Wilkinson

Rupert Williams

Company Secretary Emma Tozer

Accountant

Ricca Bunda

Charity Number 1048212

Company Number 02334459

Website

www.ageukwalthamforest.org.uk

Registered Address Waltham Forest Resource Hub North, 58 Hall Lane, Chingford E4 8EU

Shop 857 High Road, Leyton E10 7AA

Auditor

Knox Cropper 65/68 Leadenhall Street, London EC3A 2AD

Bankers

CAF Bank, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4JQ

Staff

Central Team Emma Tozer Chief Executive

Helen Bigham Community Fundraiser

Christine Bateson Project Support

Eric Callow Project Support

Carolyn Stiles Reception and Office Assistant

Robin Walton Volunteer Co-ordinator

Arlene Williams Finance and Personnel

Information and Advice Chearine Alphonse Information and Advice Manager

Ingrid Ambrose Adviser

Carol Moy Administrator

Befriending Terry Day Befriending Manager

Kate Ashcroft Befriending Co-ordinator

Harriet Simmons Befriending Co-ordinator

Staff

Independent Living Team Emma Levine Community Services Manager

Liz Byrne Co-ordinator

Beverley Raison Nail Care Technician

Corazon Callow Julie St Roman Julie Jarvis Angela Jordan Sarah Griffiths Jane Tempero Anita Rose Sumaya Mohamed Agnieszka Watras Nicolette Johnson Help at Home Support Workers

Deniz Mustafa Michael Parkes John Morgan Lee White Handyperson

Activities and Community Engagement Tyler Alexander Digital Outreach Worker

Jason Davies Digital Outreach Worker

Veterans Support David Hale Veterans Co-ordinator

Alistair Martin Veterans Co-ordinator

Retail Team Carey Young Manager

Paula O’Connor Deputy Manager

Charlie Panapa Shop Assistant

Investments CCLA

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Chair’s Introduction

Age UK Waltham Forest: here in a challenging world

The world can be a challenging place for us senior citizens.

For many of us, everyday tasks that were once straightforward have become more complex. As local bank branches close, we find we need a computer, smartphone, and a notebook full of passwords just to manage basic banking needs. Securing a doctor's appointment or arranging a hospital visit has become a formidable task.

“Golden Years” can become “Desperate Years” with increasing costs and limited funds weighing on us.

Age UK Waltham Forest helps. They aim to support us seniors by providing valuable information and advice, helping us to claim the benefits we’re entitled to. Recognising the importance of digital literacy, they run technology classes so we can manage AI and online accounts. Volunteers step in to shop for individuals who find it difficult to do so.

Age UK Waltham Forest understands the importance of social interaction and physical activity in maintaining a good quality of life. Volunteers befriend those who otherwise would be isolated. Exercise classes, book clubs, table tennis sessions, walking football, cycling, and quiz nights foster a sense of community.

The Hub on Hall Lane is where, over a cuppa and biscuits, we can chew on the cud and reminisce or plan, talk about family and friends.

Age UK Waltham Forest also faces a challenging climate. Running a charity like ours is hard. Costs are increasing and grants etc are thin on the ground. That’s the task: to deliver on our mission, seeking new ways to raise funds and make the most of their financial resources to ensure we can deliver.

We have a good team. Emma, our CEO, if she were in the Premier League, would command silly money. Her team would win the League every year, supported by a fantastic back room of dedicated staff and volunteers.

Thank you for your support over the last year, please continue with us on our journey.

Barry Coidan, Chair of Trustees

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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 2025. The report has been prepared in accordance with Part VIII of the Charities Act 2011, and constitutes a directors’ report for the purpose of company legislation.

The financial statements have been prepared in accordance with the accounting policies set out on pages 46 to 49 of the attached financial statements 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 accounts 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 representing the needs and wishes of older adults, and participation in joint initiatives with statutory authorities and non-governmental organisations.

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 with the Charity Commission (Charity Registration Number 1048212).

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 company 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 reference and administrative information at page 3.

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Trustees’ responsibilities

The Trustees (who are also directors of Age UK Waltham Forest for the purposes of company law) are responsible for preparing the Trustees’ report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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 that period.

In preparing these financial statements, the Trustees are required to:

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 detection of fraud and other irregularities.

Each of the Trustees confirms that:

¨ so far as the Trustee is aware, there is no relevant audit information of which the Charity’s auditor is unaware; and

the Trustee has taken all the steps that he/she ought to have taken as a Trustee in order to make himself/herself aware of any relevant audit information and to establish that the Charity’s auditor is aware of that information”.

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 included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

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Key Management Personnel

The overall responsibility of Age UK Waltham Forest ultimately lies with the Trustees who meet on a quarterly basis. Day-to-day management of the Charity is delegated to the Chief Executive who reports to the Trustees on a formal 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 receives a monthly salary which is set by the Trustees 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 including 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. 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 importance of joint working to provide older people in these areas responsive services, therefore the three organisations have agreed to work in partnership to respond to need, meeting on a monthly basis to collaborate.

As a member of the Age UK Federation, Age UK Waltham Forest takes part in a number of regional and national initiatives and campaigns.

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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 Organisational Quality Standards recognises the high standard of our performance as an organisation. It certifies that we are a well-governed 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 Charity Commission.

We are also holders of the Advice 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 advice and 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 are London Living Wage and an Age Friendly Employer, Cyber Essentials Accredited and members of 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 place, 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.

Staffing – 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 significantly to the success of Age UK Waltham Forest as has our continued focus on holistic and individualised services for older adults.

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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 informed in writing that it will not ask us to leave the building without enabling us to locate suitable 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 space 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.

Changes in policy 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 finances. The Trustees believe that by monitoring reserve levels, by ensuring controls exist over key financial systems, and by reviewing the operational arrangements and business risks faced 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 years 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 to landfill. When purchasing furniture and equipment we choose used rather than new as our first option. We use sensor lighting in our hub, auto-hibernation of laptops after 5 minutes of inactivity and ensure equipment is turned off at night and not left on standby; We recycle paper, cardboard, plastics and ink/toner 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 50%. Where it is feasible to do so, we are maintaining 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 Eco-Audit to examine where we can further reduce our environmental footprint and the results were presented to staff and Trustees in August 2023, consequently we have increased our recycling and reduced our waste outputs; reviewed our staff travel arrangements and reduced our use of plastics.

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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 services, campaigning for the rights of older people and older carers, and participating in partnership working with statutory authorities and non-governmental 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 in the following pages

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Our Mission

“The object for which the charity is established is “to promote and enhance the well-being 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 significant difference.”

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.

We aim to create a culture which:

Working with other organisations

We work with a wide variety of organisations on initiatives.

These include:

Our Services

----- Start of picture text -----
Volunteering
Information and Advice
Befriending and Social Groups
Veterans Support
Exercise Classes
Digital Inclusion
Footcare
Handyperson
Help at Home
Shopping & Prescription Services
Winter Warmth
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Volunteering

Overview

Age UK Waltham Forest is proud of its volunteer workforce. Without our fabulous team of volunteers, we could not carry out the work that we do. Working alongside staff, they bring a wealth of experience, a valuable and objective viewpoint and a wide range of skills to the many and varied tasks which they perform. These range from providing Befriending Services; form-filling for our Information 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.

We continue to work with a large number of volunteers, this year we operated with a ratio of 390 volunteers to 23 contract staff.

We recruit volunteers in many different ways including leaflet drops, adverts in local papers, online via volunteer recruitment sites, social media and at recruitment fairs.

We can never repay the dedication, nor thank our volunteers sufficiently for their greatly valued contributions.

Impact Highlights

390

volunteers provided

32,100

hours of support

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Long Service Awards and Volunteer of the Year

Each year we celebrate the commitment of our volunteers with Long Service Awards for those who have given lengthy periods to helping one of our various projects.

Awards were given for volunteers who have given a minimum of two, five ten and fifteen years . We also celebrated volunteers who give much more than could be expected. All of them have given exceptional devotion to their respective projects and we thank them most sincerely.

2 Years 5 Years 10 Years Hannah Bracey Nicola Bassil Daniel Amoah Evelyn Gairey Samia Bessadi Phil Creasy Peter Lewis Michael Bryan Sarah Mills Susan O’Neill Lorna Drummond Juliette Tew Michael Odetola Caroline Fray Kate Stratford Cassidy Gourlay Andrea Jennings 15 Years Victoria MacDonld Mike Payne Ghazala Saeed Charlie Raymond Monica Veseli

Volunteers of the Year Jenny Cody Helen Corrigan Chris Finn John Finn Coreen France Julie Jarvis

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Information and Advice

Overview

Our Information & Advice Service continues to be a vital support for older people and their carers across Waltham Forest. Delivered by a committed team of staff and volunteers, the service remains independent, impartial, confidential, and free of charge—accessible at our offices, in clients' homes, and out in the community.

In 2024/2025, we saw an increase in both the number and complexity of enquiries, reflecting the growing need for tailored, one-to-one support. Key areas of support included housing, welfare benefits, and access to health services. Where clients were involved with multiple agencies, we worked with their consent to coordinate support across services, ensuring they received joined-up support.

Our service offers:

Impact Highlights

In 2024/2025, our Information & Advice Team generated a total of £2,309,894.60 in successful welfare benefit claims—an increase of 2% from the previous year. This income has directly improved the financial independence of older residents, enabling them to remain in their homes and cover essential costs, such as:

On average, each resident supported by the team received £5,645 in annual benefit entitlements.

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Key Service Activity

Additionally, on behalf of London Borough of Waltham Forest we distributed the Household Support Fund to eligible clients, providing immediate relief to those experiencing financial hardship.

Community Outreach and Collaboration

Throughout the year, we collaborated with local partners on a borough-wide Pension Credit campaign , delivering advice at community fairs and events. We also supported clients in completing both online and paper applications for the Winter Fuel Allowance , helping many receive an additional £200–£300.

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Befriending

Overview

Our Befriending Service remains a lifeline for older residents living alone in Waltham Forest. Delivered by a team of dedicated and compassionate volunteers, the service provides regular companionship through weekly home visits, helping to combat loneliness and social isolation among our most vulnerable residents.

In 2024/25, 276 older people received weekly visits from a befriender. Each volunteer is matched with one individual and visits them for at least one hour per week, often building long-lasting and meaningful friendships. The average age of befriended clients is 83, with 61% aged 80+, and 1% over 100 years old.

Due to overwhelming demand, the service is open only to residents aged 60+ who live alone. Despite these eligibility criteria, 157 new referrals were received this year—the highest ever. As of 31 March 2025, 51 people remained on our waiting list , the largest number to date.

Impact Highlights

While the core aim of befriending is to reduce loneliness, the impact of the service goes far deeper. Many relationships continue for years— 38% of befriended individuals have been matched for over two years, and 21% for over four years. These enduring connections bring consistent emotional support, trust, and care into the lives of those who may otherwise go days without human contact.

Our volunteer befrienders are at the heart of everything we do. At the end of the reporting year, we had 270 active volunteers . During the year, 88 new volunteers joined us, while 36 moved on . Collectively, they contributed an incredible 17,120 hours of service and made 7,384 home visits .

Safeguarding

The service also plays an important role in local safeguarding. In 2024/25, we made 11 safeguarding referrals , a rise from 7 the previous year. These reports involved cases of poor-quality paid care, neglect, financial abuse, sexual abuse, and mental health concerns, including suicide risk. Our befrienders act as a vital safety net, identifying issues early and ensuring older people are protected from harm.

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Community Reach and Events

Challenges and Resilience

This has been the most challenging year our Befriending Service has faced. In September 2024, the local council decided to defund our specialist befriending provision and tendered a generic 18+ service. Despite a strong partnership bid with CREST, we learned in January 2025 that we had been unsuccessful. The transition away from NHS grant funding created further strain.

Despite this, the commitment of our volunteers never wavered. In a powerful display of solidarity, 35 volunteers lobbied councillors at the Town Hall , and all of our team declined to transfer to the external provider. Our trustees have since made the decision to continue the service independently.

To support this decision, we launched our fundraising campaign, Become a Friend of Befriending , aimed at sustaining the service into the future.

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Social Group

Overview

Combating social isolation is a key priority. Our Wednesday Coffee Morning remains a popular and welcoming space where older residents can meet, connect, and enjoy companionship in a relaxed setting.

Impact Highlights

The Coffee Morning is more than just a weekly social gathering—it is a lifeline for many. Great friendships have developed, not only among service users but also between attendees and our five dedicated volunteers . Participants consistently speak about the emotional boost and sense of belonging they experience from spending time with others.

The group had 300 more attendances compared to the previous year. In 2024/25, we recorded 1,879 attendances by 132 individuals across 47 sessions .

Throughout the year, the group celebrated special occasions, including our much-loved summer garden parties and Christmas gatherings , which add joy and a festive spirit to the calendar.

Community Engagement and Support

In addition to its social value, the Coffee Morning has evolved into a trusted space for community support and health engagement . We welcomed a range of visiting professionals and organisations throughout the year, including:

These regular visits ensure that attendees can access vital services in an informal and supportive environment, helping them stay healthy, informed, and connected.

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Veterans’ Support

Overview

Our Veterans Support Network has thrived in 2024/25, providing connection, camaraderie, and meaningful engagement for ex-service personnel and their families across Waltham Forest.

This year, we supported 90 veterans through regular activities, events, and one-to-one contact, offering a strong sense of community for those who have served.

Impact Highlights

Our social events continue to go from strength to strength. In December 2024, 65 veterans and spouses attended our Christmas lunch at The Greene Man—up from 37 attendees in 2022. Our monthly breakfast club remains a cornerstone of our veterans’ calendar, consistently drawing 40– 50 attendees and providing a warm, informal setting for veterans to reconnect and share experiences.

We also organised a number of outings, including visits to:

Stow Maries WWI Airfield

Combined Services Military Museum in Maldon

Leytonstone and Chingford D-Day 80th Anniversary events in June 2024

These trips provide opportunities to honour shared history, remember those lost, and celebrate the lives and contributions of those who served.

We were also honoured to host author Jay Morgan-Hyrons , who shared her powerful personal story and presented her book The Falklands Fallen —a moving tribute to those lost during the Falklands War.

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Community Partnerships and Recognition

In 2024, we successfully became members of the Confederation of Service Charities (Cobseo) —a significant achievement that both recognises the quality of our work and opens new funding opportunities. Since joining, we secured grants from the Army Benevolent Fund and the Veterans’ Foundation , securing the project’s immediate future.

Our strong relationship with Leyton Orient F.C. continues to flourish. This year, the club generously donated tickets to their Remembrance Day match , where we partnered with the Leytonstone Royal British Legion to raise funds for the Poppy Appeal.

Advocacy and Support

Our collaboration with Waltham Forest Council’s Armed Forces Committee continues to deliver — real impact. Notably, in 2024/25, two veterans were successfully rehomed through the council a direct result of our sustained advocacy on behalf of ex-service members.

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Other activities

Overview

This year, we have continued to respond to the voices of older people in Waltham Forest by broadening our range of creative and social activities .

Book club

Our Book club continues to grow, welcoming more new members to share their thoughts and insights about the book of the month. The books are chosen by the group range from renown authors to contemporary 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.

Creativity, Connection and Conversation

In 2024/25, we continued our monthly Craft Club , which has quickly become a vibrant and sociable space for creativity. The group played a key role in helping us achieve our Big Knit targets, and many participants have gone on to reignite a passion for knitting or learn new creative skills.

Music continues to be a valued part of our offer. Our weekly ukulele group remains a firm favourite, and this year we introduced a new community music course in partnership with Soundcastle , giving service users the chance to explore rhythm, songwriting, and collaborative music-making.

We also delivered a range of one-off events including a printmaking course in collaboration with the Adult Learning Service and a series of special interest talks , with topics ranging from gardening to the role of singing in wellbeing

Bereavement Support

We also continued to host bi-monthly Bereavement Support Group , facilitated by experienced counsellors formerly of the Margaret Centre . The group offers a compassionate, structured space for older people to share their experiences of loss , reflect, and receive emotional support.

Exploring London’s Hidden History

Local walk leader Joanna Moncrieff has continued to lead our ever-popular history walks across central London. This year’s highlights included hidden corners of Covent Garden , the back streets of Victoria , and the elegant traditions of the gentlemen’s clubs of St James .

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Windrush Garden Party

In June 2024 we held a garden party for isolated housebound Caribbean elders who are all users of the Befriending Service, and their family members. 103 people attended. Volunteers transported the elders who were unable to travel independently from their homes. A hot Caribbean lunch was served, followed later by tea and homemade cakes. A steel pan band provided music. Year 7 pupils from Lammas School waited tables, keeping the elders supplied with food and drink.

The pupils from Lammas School had previously read all the Unheard Stories exhibition pieces – an exhibition of the life stories of Caribbean elders – and had then, inspired by those stories, written poems and produced artwork. The artwork was displayed at the Garden Party and the pupils read out their poems to everyone there. All but four of the people whose stories are featured in Unheard Stories were present at the Garden Party (One lady has sadly passed away, and three others were too ill.)

This event was supported by LBWF, Stow Brothers, Hasler Foundation and Active Christians Transforming Society.

The legacy of this event is best illustrated by the life story of Rose McFarlane (who sadly passed away on 14/1/2025) which inspired Kinaid Obaid (age 12) to write this poem.

Praise Song for Rose McFarlane

by Kinan Obaid

Rose, a woman of determination.

Born in Jamaica, she loves her nation. Left behind as a child, but reunited at seven, Her journey to England, a taste of heaven.

Growing up in the East End, a struggle each day, Bills, bills, bills - how could she pay? Working hard, facing racism with pride, Three angels lost, heartbreak and pain, But Rose, forever will sustain.

Marriages tough, love lost and found, Her independence, on solid ground. A proud Black woman, no longer subdued, Rose's strength, a beacon, shining true.

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Exercise Classes

Overview

Staying physically active is essential to preserving independence in later life. Regular exercise can help older adults reduce the risk of falls, manage daily routines with confidence, and remain healthy and autonomous for longer. Our exercise programme continues to be a cornerstone of this mission.

In 2024/25, we delivered a dynamic and growing programme of physical activity specifically tailored for adults aged 50 and over. Our sessions support not only physical wellbeing but also help to combat isolation, build friendships, and foster a sense of community.

Impact Highlights

This year saw a significant increase in participation across our exercise programme. In total, we

delivered 996 classes , welcoming 12,094 attendances from 912 individuals —an increase of over 2,000 attendances from the previous year.

Each week, we hosted 25 in-person exercise classes at venues across the borough and at our Hub, alongside three online sessions , ensuring flexibility and accessibility for a wide range of participants.

Feedback from our classes is overwhelming positive: for example our Tai Chi classes have made a significant impact on the wellbeing of older participants. An impressive 91% reported feeling

stronger, 89% experienced improved balance, and 77% highlighted the social connection as a key benefit of attending .

Our activities included:

These classes not only promote physical fitness but also offer enjoyable and engaging ways for older people to try new activities, return to former hobbies, and meet others in their community.

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Community Reach and Satisfaction

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Digital Inclusion

Overview

Our Digital Inclusion programme helps older people in Waltham Forest build confidence and independence in an increasingly online world. In 2024/25, we expanded both our Digital Buddies oneto-one support and our long-running Silver Surfers classes , ensuring that older people can access the benefits of technology whether at home, in community spaces, or at our Hub.

Digital Buddies

The Digital Buddies programme , launched to provide personalised one-to-one support, has grown significantly thanks to new funding from Age UK National’s Digital Champions initiative .

Support is now available at the Hub, in community venues, and at coffee mornings , enabling participants to address specific digital challenges. For those without access to technology, we also introduced a device loan scheme , breaking down barriers to participation.

Two new digital outreach workers, Jason and Tyler , have been employed to travel across the borough, encouraging more older people to get online and access digital support.

Silver Surfers

First launched in 2008, Silver Surfers remains the backbone of our digital inclusion work. Originally a basic computer skills programme, it has evolved into a series of topic-based classes , shaped by learners’ interests. Popular topics include internet safety, using tablets, online shopping, video calling, and digital navigation tools.

Since 2014, the programme has offered themed sessions, and in 2024/25 we continued with a hybrid delivery model —supporting people in-person at the Hub and online via Zoom . This flexibility means more older people can take part, even if they cannot travel.

The programme’s success is thanks to our dedicated team of volunteers , who plan and deliver the sessions with expertise and enthusiasm.

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Impact Highlights

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Footcare

Overview

Our Footcare Service plays a vital role in supporting older people’s mobility, independence, and wellbeing . Regular toenail cutting not only promotes good foot health, but also helps prevent falls and allows older adults to remain active and confident in their daily lives.

The service is available to anyone aged 50 and over , and is particularly valuable for those who are frail, living with arthritis, or physically unable to manage nail care themselves.

Impact Highlights

In 2024/25, we delivered 544 footcare treatments , with many clients returning regularly and approximately 10 new clients joining each month . All new service users undergo a telephone assessment , and where needed, we refer them to their GP—particularly in cases involving diabetes or medication that may affect foot health.

Treatments are provided in our dedicated footcare room at the Hub , every Tuesday and Wednesday , by a skilled nail care technician with many years of nursing experience . The service is clearly defined as non-podiatric , allowing us to keep the cost low at £22 per treatment , while still offering high-quality care. When clients require additional treatment beyond our scope, we help arrange GP referrals or signpost to trusted local podiatrists .

“Thank you – the lady did a wonderful job. It was a great treatment. Everybody was so kind.”

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Community Reach and Partnerships

Our service is widely recommended by GP surgeries, pharmacies, and local health professionals , who recognise its value in preventing more serious mobility issues and reducing pressure on health services.

In partnership with the Dementia Hub in Leyton , we also supported the setup of their own treatment room and continue to provide nail-cutting services to their service users. This has extended access to residents in the southern areas of the borough , ensuring wider community benefit.

Beyond the physical treatment, many clients view the footcare session as a calming, personal experience , and for some, the technician is one of the few people they speak with regularly. The service offers not just care, but kindness, dignity, and conversation in a trusted environment .

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Handyperson

Overview

“I want help with jobs at home - and I really trust Age UK” – this is usually the reason why clients choose us when they require Independent living services, to enable them to remain as independent as possible in their own homes. Reports of bad experiences from unscrupulous people is sadly very common and deeply upsetting to hear about, which is the major reason why these services were initially set up.

We offer safe options to help older people throughout the Borough, and try to keep the costs as affordable as possible. Our clients are reassured that all workers are DBS checked and carry photo ID

Our Handyperson Service provides practical, reliable support to help older residents stay safe, comfortable, and confident in their homes. Delivered by a small team of skilled and trusted workers, the service covers a wide range of minor repairs and home maintenance jobs—making a big difference in everyday life.

From fitting stair rails and replacing toilet seats to putting up shelves and fixing dripping taps, the service is designed to take the stress out of tasks that many older people may no longer be able to manage safely on their own.

Impact Highlights

In 2024/25, the Handyperson team made 500 client visits , completing 1,049 hours of work and installing 42 grabrails and stair rails at no cost to clients.

Our (flat) rate of £25 per hour represents excellent value, and many of our clients are repeat customers who return with new requests and “to-do” lists as their needs evolve.

Demand for gardening support remains high, especially during the summer months. Clients with a deep connection to their outdoor spaces rely on us to help with everything from lawn mowing to tackling overgrown gardens—allowing them to enjoy and take pride in their surroundings once again.

We’ve also seen growing interest in painting and decorating , with more clients looking to refresh and maintain their homes, inside and out.

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Home Safety and Grab Rails

A key part of the service is the installation of grabrails , typically placed in bathrooms, near toilets, or outside entranceways—wherever clients feel they need additional support to stay safe. This service is provided free of charge , thanks to local funding and partnerships.

Many referrals for grabrail installations came via GP surgeries, social prescribers, and community groups , underlining the importance of joined-up working with healthcare and wellbeing partners

Personalised and Responsive Support

The Handyperson Service operates through a simple and client-friendly process . Clients call our office to request a job, and we collect full details to assess whether the task is suitable for our team. If the job involves gas, electrics, or falls outside our scope , we help the client find a trusted alternative through the Age UK London Business Directory .

This responsive and ethical approach ensures that all clients get the help they need—safely and reliably.

“It has been a joy to go into my kitchen and feel all that space when you moved the cupboards. It alleviated so much stress and depression. I’m completely bowled over by your kindness.” – Ms M

“I’m so pleased to see my garden come back to life after months of neglect.” – Mrs H

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Help at Home

Overview

Our Help at Home service provides trusted, practical support for older residents who need assistance with everyday household tasks. The service offers both reliability and peace of mind, helping clients to remain safe, comfortable, and independent in their own homes.

Delivered by a team of dependable and friendly workers, the service includes routine domestic tasks such as vacuuming, mopping, changing bedding, laundry, ironing, and cleaning bathrooms and

kitchens . Some clients also request occasional tasks such as oven cleaning or basic food preparation .

Impact Highlights

In 2024/25, the service delivered 3,387 hours of support , with demand steadily increasing. We supported 56 clients in April 2024 , rising to 84 clients by March 2025 .

Most clients request two hours of support either weekly or fortnightly , depending on their needs. In addition to domestic support, our workers often assist with admin tasks , including reading official letters, making phone calls, or helping clients manage day-to-day paperwork.

The hourly charge for the service was £21 per hour to ensure continued quality and fair pay for our staff.

Personalised Approach & Holistic Support

Every new client begins with a detailed home visit , during which we explain how the service works. This visit also provides an important opportunity to:

Build rapport and understand the client’s living environment

This person-centred approach often leads to broader support and referrals, ensuring clients get the help they need in a joined-up way.

“She is so thorough – I never saw my bathroom so clean!” – Mrs H

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Shopping and Prescription Collections

Overview

Our Shopping and Prescription Collection Services provides a vital lifeline for older residents who are housebound or managing physical and mental health challenges. Many of these individuals have no nearby family or friends to assist them, and they rely on our dedicated volunteers for regular, reliable support.

These services are particularly important for clients facing isolation, ensuring they have access to food, essential supplies, and medication—while also benefiting from the reassurance of a friendly, familiar face.

Impact Highlights

Over the course of the year, we fulfilled 556 shopping and prescription deliveries , with a monthly average of 45 requests . Clients use the service either weekly or on an ad hoc basis , depending on their needs.

We aim to deliver shopping within two days of receiving a request , and where possible, the same volunteer supports the same client , helping to build trust and social connection. For many, this friendly contact is just as important as the delivery itself.

“I appreciate everything that you do for me – the service is fantastic and it’s priceless as I am unable to leave my flat.” – Mr N

A small service charge of £2 per trip is added to cover admin costs, while clients pay directly for their shopping. Prescription collections are delivered at no additional charge, ensuring that housebound clients can continue to access essential medication safely and on time .

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Community Fundraising

Overview

This year has been a vibrant and rewarding one for community fundraising at Age UK Waltham Forest. Thanks to the enthusiasm of our volunteers , the generosity of local residents , and the continued support of our partners , we’ve delivered a wide range of events and campaigns that have raised vital funds while bringing people together.

Fundraising Highlights

We continued to grow existing events while introducing new opportunities to engage the public and local businesses. Key highlights from the year include:

Quiz & Bingo Nights

We ran seven successful quiz and bingo evenings , combining fun, food, and friendly competition. Special thanks to Fish & Chicken for subsidised catering and to volunteer Richard Freitag for two popular quiz nights with Ploughman’s suppers.

Seasonal Fundraising Stalls

With a presence at 15 local events , we raised awareness and funds with our well-loved handmade

goods, including knitted “Pigs in Blankets” and egg-filled chicks and bunnies —all made possible by our wonderful team of volunteer knitters.

Plant Fayre & Sunflower Competition

Our spring Plant Fayre attracted green-fingered supporters and kicked off our Sunflower Growing Competition , encouraging community participation and sustainability.

Summer Sounds Garden Party

Christmas Party

A warm and festive end to the year, made extra special thanks to Aston Group for providing entertainment and a visit from Father Christmas.

Sponsored Events

Our volunteers once again stepped up, including those who participated in the London Legal Walk , raising funds and awareness for older people locally.

South Chingford Jumble Trail

In its second year, the trail was a big success. A heartfelt thank you to French Connection Head Office for donating a large quantity of clothing to support the event.

Online Campaigns & Legacy Awareness

We continued to raise money via platforms such as Don’t Send Me A Card and Easy Fundraising. We also launched a free will-writing service with Octopus Legacy .

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Retail and Partnerships

Our pop up shop at The Hub remains a valuable source of income, stocked with high-quality donated clothing and items from the local community. This year, we also made great strides in developing

corporate partnerships :

Thank You

We are deeply grateful to every individual, volunteer, donor, business, and community partner who supported our fundraising this year. Your commitment enables us to continue delivering essential services to older people across Waltham Forest—and ensures we can grow, adapt, and thrive for years to come.

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FINANCIAL REVIEW

Financial performance

Total income for the year amounted to £731,564 (2024 – £656,133). Income from charitable activities increased during the year from £334,181 in 2024 to £372,453 in 2025 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 £708,268 (2024 – £637,003) for the year with £675,253 (2024 – £605.904) 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 statements. Expenditure on raising funds amounted to £33,015 (2024 – £31,099).

Net income for the year before other gains and losses was £23,296 (2024 – £19,130). As noted below, the charity invested funds totalling £100,100 with CCLA in the COIF Charities Ethical Investment Fund during 2022/23, in 2023/24 the value of these investments had risen to £105,460. By the end of the year, the value of the investment had decreased by £4,474. After accounting for this loss, as well as the actuarial loss of £10,198 (2024 – actuarial loss of £3) arising in respect of the Charity’s pension liability, the charity’s funds increased overall by £8,624 (2024 – increase of £28,561).

As explained above, the Charity carries out a diverse range of services many of which are externally 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 difficult step of ceasing the provision of certain of the Charity’s services and if funding becomes available for new services in line with our mission, then the Charity will develop them.

Reserves policy and financial position

Having reviewed the need for free reserves, the Trustees are of the opinion that it is prudent for the Charity to always have an amount approximately equal to between six and nine months’ expenditure 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 balance sheet shows total funds of £503,518 as at 31 March 2025 (2024 – £494,894).

The majority of funds raised for or the use being restricted to specific purposes were fully expended in the year. The restricted fund balances at 31 March 2025 is £2,828 (2024 – £nil).

In line with plans to diversify our income streams, we have designated £35,000 (2024 – £0) of our unrestricted funds to cover the cost of setting up a new shop in 2025/26 plus a staff fund of £63,000 (2024 – £63,000) 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.

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The unrestricted general funds of the Charity at 31 March 2025 amounted to £412,914 (2024 – £400,730). Offset against general funds is a pension reserve of £10,224 (2024 – £3,836). 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.

At 31 March 2025, the Charity had ‘free reserves’ of £411,335 (2024 – £397,195) being the general funds after deducting the net book value of tangible fixed assets, i.e. £1,579 (2024 – £3,535).

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 excessive. 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 costs to the organisation and by older people requiring our support with demand outstripping our capacity. In addition, there are also uncertainties that exist with respect to the building the Charity currently occupies - when the Charity has to move, it is highly likely rent will increase and there will be costs associated with a move and settling into new premises.

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 evident.

The Trustees see the Charity as a going concern, with the ability to continue running for at least one year from the date of these accounts.

Investment policy

Trustees have continued to invest a portion of our reserves with CCLA, an investment firm who only support Charities, Churches and Local Authorities to ensure our reserves are managed appropriately to generate 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/Flagstone Deposit Portal.

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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 data 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 practice to protect supporters’ data and never sells data, it never swaps data with other organisations, and ensures that its communication preferences can be changed at any time. The Charity manages its own fundraising activities and does not employ the services 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 2024/25, 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 services 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:

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. It aims to ensure that no job applicant or employee receives less favourable treatment on the grounds of age, race, 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 abilities. All employees are given induction and

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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 staff team for their loyalty and hard work.

Approved by the Trustees and signed on their behalf by:

Barry Coidan Chair of Trustees

Date: 27[th] November 2025

38

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 ‘charitable company’) for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework 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).

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 2025 and of its income and expenditure for the year then ended;

· have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

Basis of 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 for the audit of the financial statements section of our report. We are independent of the charitable company in accordance 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 obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern 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 that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve 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.

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Independent Auditor’s Report to the members of Age UK Waltham Forest (cont.)

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditors’ report thereon. The trustees are responsible for the other information.

Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.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 there is a material misstatement in the financial statements themselves. 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 nothing to report in this regard.

Opinion 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 includes the directors’ report prepared 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 directors’ report included within the trustees’ report has been prepared in accordance with applicable legal requirements.

Matters 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 directors’ report included within the trustees’ report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

· adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

· the financial statements are not in agreement with the accounting records and returns; or

· certain disclosures of trustees' remuneration specified by law are not made; or

· we have not received all the information and explanations we require for our audit; or

· the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the trustees’ report and from the requirement to prepare a strategic report.

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Independent Auditor’s Report to the members of Age UK Waltham Forest (cont.)

Responsibilities of Trustees

As explained more fully in the Trustees' Responsibilities Statement, the Trustees (who are also the directors of the charitable company 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 company or to cease operations, or have 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 statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’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 detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

· The charitable company is required to comply with both company law and charity law and based on our knowledge of its activities, we identified that the legal requirement to accurately account for restricted funds was of key significance.

· We gained an understanding of how the charitable company complied with its legal and regulatory framework, including the requirement to properly account for restricted funds, through discussions with management and a review of the documented policies, procedures and controls.

· The audit team, which is experienced in the audit of charities, considered the charitable company’s susceptibility to material misstatement and how fraud may occur. Our considerations included the risk of management override.

· Our approach was to check that all restricted income was properly identified and separately accounted for and to ensure that only valid and appropriate expenditure was charged to restricted funds. This included reviewing journal adjustments and unusual transactions.

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.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

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Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken, so that we might state to the charitable company’s members those matters 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 and the charitable company’s members as a body, for our audit work, for this report or for the opinions we have formed.

10 December 2025

Simon Goodridge

Senior Statutory Auditor

for and on behalf of Knox Cropper LLP

65 Leadenhall Street

London EC3A 2AD

42

Statement of financial activities Year to 31 March 2025

Notes
Unrestricted
funds
£
Restricted
funds
£

216,179

—

—

48,183

—

264,363


—

261,535

261,535

2,828

—

2,828
—


2,828


—


2,828		 Total
2025
£		 Unrestricted
funds
£
Restricted
funds
£
Total
2024
£
Income from:
Grants, donations and legacies
1
Other trading activities
2
Interest receivable
Charitable activities
. Improving the lives of older people in the
London Borough of Waltham Forest
3
Other sources
Total income
Expenditure on:
Raising funds
4
Charitable activities
. Improving the lives of older people in the
London Borough of Waltham Forest
5
Total expenditure
Net (expenditure) income before
investment gains/(losses)
7
Net (losses)/gains on listed investments
11
Net (expenditure) income
Other recognised gains and losses
Actuarial gains
18
Net movement in funds
Reconciliation of funds
Funds brought forward
As at 1 April 2024
Funds carried forward
As at 31 March 2025
65,557

37,790
29,004

324,270
10,580		 281,737
37,790
29,004

372,453
10,580		 50,057
20,457
13,516
265,240
1,577
235,694

650

—

68,941

—
285,751

21,107

13,156

334,181

1,578
467,201 731,564 350,848
305,285
656,133


33,015

413,718

33,015

675,253
31,099
300,619


—

305,285

31,099

605,904
446,733 708,268 331,718
305,285
637,003

20,468

(4,474)
23,296

(4,474)
 19,130
9,434
—

—
19,130

9,434
15,994

(10,198)		 18,822


**(10,198) **		 28,564
(3)
—
—
28,564

(3)
5,796

494,894
8,624



494,894		 28,561

466,333
—



—
28,561


466,333

500,690

503,518
494,894

—

494,894

All of the Charity’s activities during the above two financial periods derived from continuing operations.

All recognised gains and losses are included in the above statement of financial activities.

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Balance sheet 31 March 2025

2025 2025 2024 2024
Notes £ £ £ £
Fixed assets
Tangible assets 10 1,579 3,535
Investments 11 100,986 105 105,460
102,565 108,995
Current assets
Debtors 12 47,316 46,002
Short term deposits 320,564 368,812
Cash at bank and in hand 90,679 60,646
458,559 475,460
Creditors: amounts falling due
within one year 13 (47,382) (85,725)
Net current assets 411,177 389,735
Total net assets less current liabilities 513,742 498,730
Provisions for liabilities 14 (10,224) (3,836)
Total net assets 503,518 494,894
The funds of the Charity:
Restricted funds 15 2,828 —
Unrestricted funds
. Designated funds 16 98,000 98,000
. General funds 412,914 400,730
. Pension reserve 19 (10,224) (3,836)
503,518 494,894

Signed on behalf of the board of Trustees by:

Barry Coidan Chair of Trustees

Age UK Waltham Forest, Company Limited by Guarantee Registration Number 02334459 (England and Wales)

Date: 27[th] November 2025

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Statement of cash flows Year to 31 March 2025

Notes
2025
£
2024
£

(46,497)
4,559
29,004
13,156
48,248
(89,679)
(723)
(1,320)
76,529
(77,843)
30,033
(73,284)

60,646
133,930

90,679
60,646
Cash flows from operating activities:
Net cash used in operating activities
A
Cash flows from investing activities:
Interest received
Investment in short term deposit
Purchase of tangible fixed assets
Net cash provided by (used in) investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at 1 April 2024
B
Cash and cash equivalents at 31 March 2025
B

Notes to the statement of cash flows for the year to 31 March 2025

A Reconciliation of net movement in funds to net cash provided by operating activities

2025
£
2024
£
8,624
28,561
2,678
4,296
(29,004)
(13,156)
4,474
(9,424)
(1,314)
(20,974)
(38,343)
19,632
6,388
(4,376)
(46,497)
4,559
Net movement in funds (as per the statement of financial activities)
Adjustments for:
Depreciation charge
Interest receivable
Net (gains)/losses on investments
(Increase) in debtors
Increase/(decrease) in creditors
Increase/(Decrease) in pension provision
Net cash used in operating activities

B Analysis of changes in net debt

2024
£		 Cash flows
£		 2025
£
Short term deposits
Cash at bank and in hand		 368,812
60,646		 (48,248)
30,033		 320,564
90,679
429,458 (18,215) 411,243

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Principal accounting policies 31 March 2025

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 statements have been prepared for the year to 31 March 2025 with comparative information given in respect to the year to 31 March 2024.

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or the notes to these financial statements.

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the 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 accounting 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:

Assessment of going concern

The Trustees have assessed whether the use of the going concern assumption is appropriate in preparing these financial statements. The Trustees have made this assessment in respect to a period of at 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 expenditure. The trustees continue to seek new funding and communicate regularly with key funders; they are confident that the charity 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.

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Principal accounting policies 31 March 2025

Assessment of going concern (continued)

To ensure a clear picture of finances is available at all times, management has created a monthly rolling cash-flow forecast covering a twelve 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 the Charity’s ability to operate as a going concern for a period of at least 12 months from the approval of these accounts. As a result, the Trustees believe it is appropriate for the financial statements to be prepared on a going concern basis.

Income recognition

Income is recognised in the period in which 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 conditions before becoming entitled to it or where the donor or funder has specified that the income is to be expended in a future accounting period.

Income comprises donations and legacies, income from trading activities, interest receivable, grants towards charitable activities and sundry income.

Donations and grants are recognised when 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 considered probable. In the event that a donation or grant is subject to conditions that require a level of performance 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 reporting period.

In accordance with the Charities SORP FRS 102 volunteer time is not recognised.

Legacies are included in the statement of financial activities when the Charity is entitled 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 earlier of the date on which either: the 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, 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 disclosed 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 title 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 revenue can be measured reliably. It is measured at the fair value of the consideration 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.

47

Principal accounting policies 31 March 2025

Grants 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 given in response to an appeal or with greater freedom of use, for example 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 obligation 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:

Allocation of support and governance costs

Support costs represent indirect charitable expenditure. In order to carry out the primary purposes of the Charity it is necessary to provide support 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 the Charity (including audit costs) and costs in respect to its compliance with regulation and good practice.

Support costs and governance costs are apportioned using percentages based on the direct expenditure incurred on the activities of the Charity.

Tangible fixed assets

All assets costing more than £250 and with an expected useful life exceeding 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:

Investments

Listed investments are a form 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 if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year-end and their carrying value at that date. Realised and unrealised investment gains (or losses) are combined in the statement of financial activities and are credited (or debited) in the year in which they arise.

48

Principal accounting policies 31 March 2025

Debtors

Debtors are recognised 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 receipt 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 of less than three months from the date of acquisition. Deposits for more than three months but less than one year have been disclosed as short-term deposits. Cash placed on deposit for more than one year is disclosed 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 settlement, and the amount of the 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.

Fund structure

The restricted funds are monies raised for, and their use restricted to, a specific purpose, or donations subject to donor-imposed conditions.

The designated 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 the benefits and risks of ownership remain with the lessor are charged to the statement of financial activities on a straight-line basis over the lease term.

Pension costs

The growth plan pension scheme is a multi-employer scheme providing benefits for some 1,300 nonassociated employers. It is therefore not possible to identify the underlying share of the Charity’s assets and liabilities within the scheme. However, as a member of the scheme, the Charity has a legal obligation to make pension deficit reduction payments when required by the scheme’s actuary. The full cost of these repayments, discounted to present values, is recognised in the year a pension deficit reduction plan is agreed.

49

Notes to the financial statements 31 March 2025

1 Income from: Grants, donations and legacies

Unrestricted
funds
£


Restricted
funds
£		 Total
funds
2025
£		 Unrestricted
funds
£


Restricted
funds
£		 Total
funds
2024
£
Donations and legacies
General donations
Age UK National grants
National partner grant
Age UK National Inc Winter grants
Fund raiser role
Other grants
National Lottery Cost of Living Grant
Mercers Grant
Walthamstow & Chingford Alms Houses
Co Op Local Community Fund
B&Q
McAlpine Grant
Masonic Grant
Sky Veterans Grant
Charles French Winter Wellness
Big Ideas Grant
Age UK East London
Age UK London
Age UK Enfield
Energy Ind Vol Redress Grant
CAB Social Prescribing Waltham Forest
City Bridge House
Grace Trust Veterans Grant
The Veterans Foundation
The Charities Trust
Hadley Trust		 48,362 - 48,362 33,271 - 33,271
48,362 - 48,362 33,271 - 33,271
7,500
-
-		 -
18,890
-		 7,500
18,890
-		 10,000
-
-		 -
42,014
14,852		 10,000
41,014
14,852
7,500 18,890 26,390 10,000 56,866 66,866
-
-
-
3,481
-
-
-
-
-
-
1,414
4,800
-
-
-
-
-
-
-
-		 -
32,983
804
500
-
5,000
5,000
2,000
2,500
-
13,636
61,839
-
1,459
-
52,500
1,000
14,698
369
3,000		 -
32,983
804
3,981
-
5,000
5,000
2,000
2,500
-
15,050
66,639
-
1,459
-
52,500
1,000
14,698
369
3,000		 -
-
-
6,786
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 67,825
32,983
8,847
-
6,260
5,000
5,000
2,500
2,500
850
8,940
3,616
14,487
-
20,019
-
-
-
-
-		 67,825
32,983
8,847
-
6,260
5,000
5,000
2,500
2,500
850
8,940
3,616
14,487
-
20,019
-
-
-
-
-
9,695 197,289 206,984 6,786 178,828 185,614
65,557 216,179 281,737 50,057 235,694 285,751

2 Income from: Other trading activities

Unrestricted
funds
£		 Restricted
funds
£		 Total
funds
2025
£		 Unrestricted
funds
£


Restricted
funds
£		 Total
funds
2024
£
Sundry fundraising (Inc Fund raiser)
Meeting room hire		 24,267
13,523		 -
-		 24,267
13,523		 8,195
12,262		 650
-		 8,845
12,262
37,790 - 37,790 20,457 650 21,107

50

Notes to the financial statements 31 March 2025

Borough of Waltham Forest
Unrestricted
funds
£
Restricted
funds
£		 Total
funds
2025
£		 Unrestricted
funds
£


Restricted
funds
£		 Total
funds
2024
£
UK Government, Local Authority, and NEL
ICB contracts and grants
Balance and Exercise
Befriending / Volunteering
Other Local Authority income
Other income from charitable activities
Classes and activities
Hairdressing and foot scare
Other income
Home support services
Handyman and Help at Home		 30,840
127,557
200		 -
-
48,183		 30,840
127,557
48,383		 30,840
126,144
-		 -
-
68,941		 30,840
126,144
68,941
158,597 48,183 206,780 156,984 68,941 225,925
32,441
12,902
2,520		 -
-
-		 32,441
12,902
2,520		 27,512
12,034
200		 -
-
-		 27,512
12,034
200
47,863 - 47,863 39,746 - 39,746
117,810 - 117,810 68,510 - 68,510
324,270 48,183 372,453 265,240 68,941 334,181

4 Expenditure on: Raising funds

Unrestricted funds Unrestricted funds
Total
funds
2025
£		 Total
funds
2024
£
Staff costs and consultancy
Allocation of support costs (note 6)		 32,108
907
29,999

1,100
33,015
31,099

51

Notes to the financial statements 31 March 2025

5 Expenditure on: Improving the lives of older people in the London Borough of Waltham Forest

Forest
Unrestricted
funds
£


Restricted
funds
£
14,430
-
-
-
-
-
14,430
36,302
4,190
279
3,594
3,328
47,694
40,121
1,754
235
1,485
26,977
504
1,767
-
72,842
33,321
4531
7,721
629
4,295
-
6,058
56,555		 Total
funds
2025
£		 Unrestricted
funds
£


Restricted
funds
£		 Total
funds
2024
£
Central services
Staff costs
Premises, equipment and insurance
Postage, stationery and telephone
Staff recruitment and training
IT costs
Miscellaneous costs
Information and Advice
Staff costs
Premises, equipment and insurance
Travel and vehicle costs
Postage, stationery and telephone
Miscellaneous costs
Active Ageing and Silver Surfers
Staff costs
Premises, equipment and insurance
Travel and vehicle costs
Postage, stationery and telephone
Classes and events
Staff recruitment and training
Publicity
Miscellaneous costs
Befriending
Staff costs
Direct purchases
Premises, equipment and insurance
Travel and vehicle costs
Postage, stationery and telephone
Staff recruitment and training
Miscellaneous costs		 43,291
13,201
12,016
2,770
12,016
18,243		 57,721
13,201
12,016
2,770
12,016
18,247		 36,190
18,805
12,125
-
7,527
21,463		 13,846
-
-
-
-
-
50,036
18,805
12,125
-
7,527
21,463
101,536 115,966 96,111 - 109,957
34,954
-
-
2,500
-		 71,257
4,190
279
6,094
3,327		 55,197
-
-
-
-		 11,225
3,008
208
5,784
3,410		 66,422

3,008

208

5,784
3,410
37,454 85,148 55,197 23,635 78,832
29,053
-
-
-
30,000
-
-
-		 69,174
1,754
235
1,485
56,977
504
1,767
-		 11,283
-
-
-
-
-
-
-		 40,089
850
196
1,039
50,497
148
-
868		 51,372
850
196
1,039
50,497
148
-
868
59,053 131,895 11,283 93,688 104,970
59,238
-
-
-
-
-
-		 92,559
4531
7,721
629
4,295
-
6,058		 51,758
-
-
-
-
-
-		 43,971
4,838
4,716
735
4,875
-
3,937		 95,729
4,838
4,716
735
4,875
-

3,937
59,238 115,793 51,758 63,072 114,830

52

Notes to the financial statements 31 March 2025

5 Expenditure on: Improving the lives of older people in the London Borough of Waltham Forest (continued)

Forest(continued)
Unrestricted
funds
£


Restricted
funds
£		 Total
funds
2025
£		 Unrestricted
funds
£


Restricted
funds
£		 Total
funds
2024
£
Community Services
Staff costs
Premises, equipment and insurance
Travel and vehicle costs
Postage, stationery and telephone
Staff recruitment and training
Miscellaneous costs
Veterans Services
Staff costs
Direct Purchases
Premises, equipment and insurance
Postage, stationery and telephone
Miscellaneous costs
Warm Homes
Direct purchases
Allocation of support costs (note 6)		 102,567
5,825
-
-
-
-		 35,315
-
-
1,849
-
4,486		 137,882
5,825
-
1,849
-
4,486		 30,977
-
-
-
-
-		 65,150
3,191
929
1,243
4,927
5,105		 96,127
3,191
929
1,243
4,927
5,105
108,392 41,650 150,042 30,977 80,544 111,522
2,478
-
-
-
-		 17,630
672
1,753
747
2,287		 20,108
672
1,753
747
2,287		 -
-
-
-
-		 17,469
117
1,054
717
1,011		 17,469
117
1,054
717
1,011
2,478 23,089 25,567 - 20,368 20,368
- 5,270 5,270 - 10,132 10,132
- 5,270 5,270 - 10,132 10,132
45,567 45,567 56,393 - 56,393
413,718 261,535 675,253 300,619 305,285 605,904

6 Support costs

The support costs incurred during the year to 31 March 2025 and the bases of their allocation were as follows:

Raising
funds
£		 Charitable
activities
£		 2025
Total
£		 Basis of
apportionment
Staff costs
Depreciation
Accountancy/Professional fees
Governance costs		 427
52
221
207		 21,453
2,626
11,095
10,393		 21,880
2,678
11,316
10,600		 Pro rata direct expenditure
Pro rata direct expenditure
Pro rata direct expenditure
Pro rata direct expenditure
907 45,567 46,474

53

Notes to the financial statements 31 March 2025

6 Support costs (continued)

6
Support costs(continued)
Raising
funds
£		 Charitable
activities
£		 2024
Total
£		 Basis of
apportionment
Staff costs
Depreciation
Accountancy/Professional fees
Governance costs		 403
84
296
317		 20,240
4,212
14,891
15,950		 20,643
4,296
15,187
16,267		 Pro rata direct expenditure
Pro rata direct expenditure
Pro rata direct expenditure
Pro rata direct expenditure
1,100 55,293 56,393

7 Net expenditure

This is stated after charging:

Total
2025
£		 Total
2024
£
Staff costs (note 8)
Auditor’s remuneration
Depreciation
Operating lease rentals
. Land & buildings
. Equipment		 506,187
10,600
2,678
24,654
350		 430,311
16,267
4,296
-
961

8 Staff costs and Trustees’ remuneration

Staff costs and Trustees’ remuneration
Total
2025
£		 Total
2024
£
Wages and salaries
Social security costs
Other pension costs		 465,427
24,823
15,937		 395,313
20,873
14,124
506,187 430,311
Staff costs per function were as follows: Total
2025
£		 Total
2024
£
Direct activities
. Raising funds
. Charitable activities
Support activities (note 6)		 32,108
452,199
21,880		 29,999
379,668
56,394
506,187 430,311

The average number of employees during the year, analysed by function, was:

Average headcount Average headcount Full Time Equivalent Full Time Equivalent
2025 2024 2025 2024
Direct activities
. Generating voluntary income
. Charitable activities (direct and support)		 2
30		 1
22		 2
23		 1
13
32 23 25 14

54

Notes to the financial statements 31 March 2025

8 Staff costs and Trustees’ remuneration (continued)

No employee earned over £60,000 per annum (including taxable benefits but excluding employer pension contributions) during the year (2024 – none). No trustee received any remuneration in respect to their services as a Trustee during the year (2024 – £nil) and no trustee received any reimbursement of expenses (2024 – £nil).

The key management personnel of the Charity in charge of directing and controlling, running and operating the Charity on a day-to-day basis comprise the Trustees, together with the Chief Executive. The total remuneration (including taxable benefits, employer’s pension contributions and employer’s national insurance contributions) payable to key management personnel during the year was £ 52,643 (2024 – £48,310). This figure comprised gross salary of £ 46,145 (2024 – £42,436), employer’s pension contributions of £1,384 (2024 – £1,273), & national insurance contributions of £ 5,113 (2024 – £4,601).

9 Taxation

Age UK Waltham Forest is a registered charity and, therefore, is not liable to income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.

10 Tangible fixed assets

Tangible fixed assets
Furniture
and
equipment
£		 Computers
£		 Total
£
Cost
At 1 April 2024
Additions
At 31 March 2025
Depreciation
At 1 April 2024
Charge for year
At 31 March 2025
Net book values
At 31 March 2025
At 31 March 2024		 5,341
-		 41,737
723		 47,078
723
5,341 42,460 47,801
5,341
-		 38,202
2,678		 43,544
2,678
5,341 40,880 46,222
- 1,579 1,579
- 3,535 3,535

11 Investments

Investments
Listed investments Total
2025
£		 Total
2024
£
Market value brought forward
Unrealised (losses)/gains on revaluation
Market value carried forward
Cost of listed investments		 105,460
(4,474)		 96,026
9,434
100,986 105,460
100,100 100,100

Listed investments at 31 March 2025 wholly comprised holdings in CCLA’s COIF Charities Ethical Investment Fund Income Units.

55

Notes to the financial statements 31 March 2025

12 Debtors

Debtors
2025
£		 2024
£
Grants and fees receivable
Prepayments and other accrued income		 8,381
38,935		 28,385
17,617
47,316 46,002
Creditors: amounts falling due within one year 2025
£		 2024
£
Expense creditors
Other creditors
Accruals
Deferred income
Social security and other taxes		 8,393
2,773
16,067
12,295
7,854		 13,191
2,764
61,018
2,487
6,265
47,382 85,725

13 Creditors: amounts falling due within one year

Deferred income at 31 March 2025, in the main, comprises advance funding received from Age UK and LB of Waltham Forest.

14 Provisions for liabilities

Provisions for liabilities
2025
£		 2024
£
Provision for pension scheme deficit reduction payments (note 18)
. Payable within one year		 10,224 3,836
10,224 3,836

In accordance with FRS 102, the Charity must recognise a liability measured as the present value of the contributions payable that arise from the deficit recovery agreement and the resulting expense in the statement of financial activities 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 is provided at note 19 to the financial statements.

56

Notes to the financial statements 31 March 2025

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 specific purposes:

As at
At
01-Apr
31-Mar
2024
Income
Expenditure
2025
£
£
£
£
Information and Advice
Age UK (Emanuel Hospital)
Walthamstow & Chingford Alms Houses
City Bridge House
Age UK Winter Warmth I&A Grant
Age UK East London I&A Grant
Active Ageing
Age UK Cost of Living
LB of Waltham Forest Tech Tea Parties
Age UK Digital Inclusion
LB of Waltham Forest Walking & Cycling Fund
Age UK Walking Tennis
Community Services
Age UK Cost of Living
Hadley Trust
Befriending
LB of Waltham Forest Wind Rush Events
LB of Waltham Forest community Ward funding
LB of Waltham Forest Black History Month
Mercers Foundation
Winter Warmth
Charles French Winter Wellness
LB Waltham Forest Winter Response
Veterans
Age UK Enfield
Age UK Cost of Living
LBWF Ward Funding Outings
Grace Trust
Sky Grant for Veterans
Co Op Grant for Veterans
Other restricted funds
Mc Alpine Fund For Volunteering
Masonic Grant		 -
9,375
(9,375)
-
-
804
(804)
-
-
52,500
(52,500)
-
-
18,890
(18,890)
-
-
15,000
(15,000)
-
-
1,592
(1,592)
-
-
3,785
(3,785)
-
-
36,000
(36,000)
-
-
3,000
(3,000)
-
-
8,000
(8,000)
-
-
-
-
-
-
4,546
(4,546)
-
-
3,000
(3,000)
-
-
1,250
(1,250)
-
-
857
(857)
-
-
1,500
(1,500)
-
-
32,983
(32,983)
-
-
2,500
(2,500)
-
-
38,535
(35,707)
2,828
-
14,487
(14,487)
-
-
1,124
(1,124)
-
-
1,135
(1,135)
-
-
1,000
(1,000)
-
-
2,000
(2,000)
-
-
500
(500)
-
-
5,000
(5,000)
-
-
5,000
(5,000)
-
-
264,363
(261,535)
2,828

57

Notes to the financial statements 31 March 2025

Comparison Year end 2024

At
At
01-Apr-23
Income
Expenditure
31-Mar-24
£
£
£
£
Information and Advice
Age UK (Emanuel Hospital)
Walthamstow & Chingford Alms Houses
National lottery Cost of Living Grant
CAB Waltham Forest
LB of Waltham Winter Response
LB of Waltham Forest I&A Services
Active ageing
Age UK Cost of Living
LB of Waltham Forest Community Living Room
LB of Waltham Forest Tech Tea Parties
LB of Waltham Forest Digital Inclusion
LB of Waltham Forest Walking & Cycling Fund
LB of Waltham Forest Walking Football
Sky Grant
Community services
Age UK Cost of Living
Befriending
LB of Waltham Forest Wind Rush Events
LB of Waltham Forest community Ward
funding
LB of Waltham Forest Black History Month
Winter Warmth
Charles French Winter Wellness
Age UK Winter Wellness
LB Waltham Forest Winter Response
Veterans
Age UK Enfield
Big Ideas Grant
Age UK Cost of Living
LBWF Ward Funding Outings
Other restricted funds
Age UK East London
B&Q funding for building refurb.
Sundry Fundraiser income
Mc Alpine Fund For Recruitment
Masonic Grant
LBWF Community Ward – Volunteer Grant
LB Winter Response
Community Fundraiser income Age UK
London		 -
12,500
(12,500)
-
-
8,847
(8,847)
-
-
67,825
(67,825)
-
-
20,019
(20,019)
-
-
13,380
(13,380)
-
-
6,393
(6,393)
-
-
4,023
(4,023)
-
-
10,000
(10,000)
-
-
364
(364)
-
-
9,968
(9,968)
-
-
4,375
(4,375)
-
-
3,616
(3,616)
-
-
2,500
(2,500)
-
-
13,293
(13,293)
-
-
2,750
(2,750)
-
-
1,170
(1,170)
-
-
2,000
(2,000)
-
-
2,500
(2,500)
-
-
7,014
(7,014)
-
-
5,292
(5,292)
-
-
14,487
(14,487)
-
-
850
(850)
-
-
1,986
(1,986)
-
-
70
(70)
-
-
8,940
(8,940)
-
-
6,250
(6,250)
-
-
650
(650)
-
-
5,000
(5,000)
-
-
5,000
(5,000)
-
-
4,526
(4,526)
-
-
11,852
(11,852)
-
-
14,852
(14,852)
-
-
305,285
(305,285)
-

58

Notes to the financial statements 31 March 2025

Information and Advice

These balances represent amounts received from various government and non-government sources as noted above to support the provision of our Information and Advice services.

Active ageing

These balances represent amounts received from various government and non-government sources as noted above to support the provision of recreational activities for our beneficiaries.

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 “warmth packs" to the poorest older adults in Waltham Forest to better protect them from the effects of cold weather.

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.

59

Notes to the financial statements 31 March 2025

16 Designated funds

Designated funds
At 1
April
2024
£		 New
designations
£		 Utilised/
released
£		 At 31
March
2025
£
Shop Premises Fund
Staff Fund		 35,000
63,000		 -
-		 -
-		 35,000
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 2025/26

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.

At 1
April
2023
£		 New
designations
£		 Utilised/
released
£		 At 31
March
2024
£
Relocation Fund
Staff Fund		 35,000
63,000		 -
-		 -
-		 35,000
63,000
98,000 - - 98,000

17 Analysis of net assets between funds

Fund balances at 31 March 2025 were represented by:

General
funds
£		 Designated
funds
£
Restricted
funds
£		 Designated
funds
£
Restricted
funds
£


Total
2025
£


General
funds
£		 Designated
funds
£


Restricted
funds
£		 Total
2024
£
3,535
105.460
389,735
(3,836)
494,894
Fund balances at 31
March 2025 are
represented by:
Tangible fixed assets
Investments
Net current assets
Provisions for liabilities
Total funds		 1,579
100,986
310,349
**(10,224) **
-

-

98,000

-
-

-

2,828

-		 1,579
100,986

411,177
(10,224)
3,535

105,460

291,736
(3,836)		 -
-
98,000
-
-

-

-

-
**402,690 **
98,000
2,828
503,518
396,894		 98,000
-

18 Operating lease commitments

The Charity signed a lease on a retail with a short lease of 19 months on 31[st] March 2025.

At 31 March 2025, the Charity had lease commitments in respect to non-cancellable operating leases as follows:

Land and
2025
£
Operating leases payments:
. Within one year
. Between one and two years		 28,905
40,276
69,181

60

Notes to the financial statements 31 March 2025

19 Pension costs

The Charity participates in The Pensions Trust’s Growth Plan (the Plan). The plan is a multiemployer 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 scheme 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 schemes in the UK.

The scheme is classified as a 'last-man standing arrangement'. Therefore, the Charity is potentially 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 share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme.

The Charity has been notified by The Pensions Trust of the estimated employer debt on withdrawal from the plan based upon the financial position as at 30 September 2023. As of this date, the estimated share of the employer debt for Age UK Waltham Forest was £56,086.

A full actuarial valuation for the scheme was carried out at 30 September 2023. This valuation showed assets of £514.9m, liabilities of £531.0m and a deficit of £16.1m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme as follows:

Deficit contributions

From 1 April 2025 to 31 March 2028: £2,100,000 per annum

The recovery plan contributions are allocated to each participating employer in line with their estimated share 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 value of the deficit reduction contributions 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

Present values of provision
31 March
2025
£		 31 March
2024
£		 31 March
2023
£
Present value ofprovision 10,224 3,836 8,212

61

Notes to the financial statements 31 March 2025

19 Pension costs (continued)

Reconciliation of opening and closing provisions

2024
£
3,836
101
(3,911)
10,198
10,224		 2024
£
8,212
314
(46,93)
3
3,836
Provision at start of period
Unwinding of the discount factor
Deficit contribution paid
Remeasurements – impact of any change in assumptions
Provision at end ofperiod

Impact on the statement of financial activities

2025
£		 2024
£
Interest expense
Re-measurements – impact of any change in assumptions
(Credit/Gains)Expenditure/Losses recognised in statement of financial activities		 101
10,198		 314
3
10,299 317

ASSUMPTIONS

ASSUMPTIONS
31 March
2025
% per
annum		 31 March
2024
% per
annum		 31 March
2023
% per
annum
Rate of discount 4.84 5.31 5.52

The discount rates shown above are the equivalent single discount rates which, when used to discount the 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 members

In the event of the charitable company being wound up during the period of membership, or within the year following, 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 £700 (2024 – £885).

Other than those transactions described in note 8 and above, there were no other related party transactions during the year (2024 – none).

62