AGE CONCERN WOLVERHAMPTON (Trading as Age UK Wolverhampton) (A COMPANY LIMITED BY GUARANTEE)
ANNUAL REPORT &
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
_Company Registration Number 3088739 Charity Number 1051232_
Accountants Et Voila
Isis House, Smith Road, Wednesbury, West Midlands WS10 0PB
**AGE CONCERN WOLVERHAMPTON TRADING AS AGE UK WOLVERHAMPTON YEAR ENDED 31ST MARCH 2024**
## **Contents**
Age UK Wolverhampton Trustees and Advisers Chief Officer’s Report - TO UPDATE Statement of Mission and Objectives Our Achievements in 2023-24 Planning for the Future Financial Review 2023/4 Governance Structure Thanks to Supporters Financial Statements
1
## **AGE CONCERN WOLVERHAMPTON TRADING AS AGE UK WOLVERHAMPTON YEAR ENDED 31ST MARCH 2024**
## **Age UK Wolverhampton Trustees and Advisers**
The Trustees who served during the year were:
Diane Vukmirovic Trustee and Chair Anne Bailey Trustee and Vice-Chair Paramjit Toor Trustee and Treasurer Sarita Sharma Trustee Catherine Read Trustee Jayne Emery Trustee Sam McIntosh Trustee Mark Guest Chief Officer & Company Secretary
**Location and Registered Office Bankers Accountant** The Workspace Lloyds Bank PLC Et Voila All Saints Road Queen Square Isis House Wolverhampton Wolverhampton Smith Road WV2 1EL Wolverhampton Wednesbury WV1 1TF West Midlands WS10 0PB
Age UK Wolverhampton is the trading name of Age Concern Wolverhampton (the Company).
The Company is a private company registered under the Companies Act 1985 (registration number 3088739) limited by guarantee and not having a share capital. The Company is governed by its Memorandum and Articles of Association. The liability of the members of the company on winding up is limited to a maximum of £1 each. The Company is also a registered charity (registration number 1051232).
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**AGE CONCERN WOLVERHAMPTON TRADING AS AGE UK WOLVERHAMPTON YEAR ENDED 31ST MARCH 2024**
## **Chief Officer’s Report**
As we end the year, we find ourselves in a relatively stable and strong position with a good foundation to build upon. We have widened our range of services to meet the needs of older people, most of which have the potential to expand. Our sustainability and growth is based on a business model that incorporates a range of approaches, including volunteers, income generation, and funding. Funding remains volatile and uncertain, but this is the case for most of the voluntary and charity sector, and we consider ourselves to be in a comparatively better situation than many others.
Throughout the year, it has felt like we are building for the long term and future. There have been many high points and successes. In particular our Daytime Discos are now well-established; seeing over one hundred older people enjoying themselves at our Christmas disco was something to behold! The impact on wellbeing cannot be underestimated as, for some attendees, they may well have not had any similar social contact during this period, when isolation can feel most harsh.
We have undertaken major work in reconfiguring our Information and Advice service making it more resilient and fit for the future. This has included enabling us to welcome more volunteers, in particular older people, and they are proving to be an invaluable asset. Our flourishing handyperson service breathed a sigh of relief at being able to finally replace our struggling twenty year old van. Not only have we upgraded to a larger new van, it is also electric, allowing us to do our bit for the environment. The extra capacity and efficiencies are already being reflected in improvements in the service.
Our strategic direction continues to be to focus on supporting active older people to remain active and purposeful, delaying the sudden decline into needing support and care and the demand put on associated support services. This decline often comes as a result of the loss of social activity, which impacts on physical and mental health. We are seeing increasing evidence to support this, particularly from the US, and an emerging recognition of this approach from the statutory sector, who recognise our foresight in this area. Alongside this, our other services, in particular Information and Advice service, are there to support the most vulnerable older people who have nowhere else to go or need support to improve their financial situation.
As the year closed, we could already see a very bright future ahead. We had secured all of our funding for 24-25 and had completed most of the major changes that we needed to. We have an expanded portfolio of services, and are embarking on exciting new projects that will add to this.
There were several staff changes, including the departure of Sally Pugh who had been with Age UK Wolverhampton for over twelve years. Sally led the Information and Advice team and was a great support to numerous older people during her time with us.
Finally, it gives me immense pleasure to thank all of our partners, funders, volunteers, staff and Board, and I look forward to continuing to work with them.
Mark Guest CEO Age UK Wolverhampton
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**AGE CONCERN WOLVERHAMPTON TRADING AS AGE UK WOLVERHAMPTON YEAR ENDED 31ST MARCH 2024**
## **Statement of Mission and Objectives**
## Our aims are to:
- Provide support to older people to reduce their risk of isolation and loneliness
- Enable older people to achieve and maintain their independence
- Enable older people to have a voice that is heard
- Enable older people to know and assert their rights and have access to quality services and products
- Reduce the negative impact of life-changing events on the lives of older people
To achieve these aims, we have the following objectives:
- To provide information and advice to ensure that older people know their entitlements and can access quality services and support
- To advise and support individuals going through “tipping points” in their lives
- To provide practical assistance to enable people to remain independent in their own home
- To work to overcome loneliness and isolation
## Public Benefit
The Trustees are satisfied that in working to achieve these Aims and Objectives Age UK Wolverhampton is demonstrating the public benefit of our work, as defined under the terms of the Charities Act 2011. It further demonstrates this by being a member of the West Midlands (Regional) Age UK’s network in sharing best practice information and learning which in turn helps improve our services.
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## **AGE CONCERN WOLVERHAMPTON TRADING AS AGE UK WOLVERHAMPTON YEAR ENDED 31ST MARCH 2024 Our Achievements in 2023-24**
## **Services Overview**
- Daytime Discos at five different venues across Wolverhampton hosting monthly events
- Five Tai Chi sessions per week at four different venues
- Email Newsletter sent out to nearly one thousand people every two months, plus bulletins.
- Regularly quarterly printed information leaflet - 2500 copies distributed
- Information and Advice telephone helpline 9.30am - 2.30pm Monday to Thursday
- Benefits checks and advice
- Home energy checks
- Telephone Support calls
- EIght weekly Friendship and Craft Groups
- Volunteering opportunities for older people in Friendship Clubs, Daytime Discos, Telephone Helpline, Telephone Support
- Employment opportunities for older people with our Home Help and Handyperson services
- Word of Mouth Traders Directory
- Hospital discharge support
## **Total Services Accessed**
- A total of 3031 people accessed our services in the year April 2023 to March 2024, a 20%
- ● increase on the previous year.
- 54% of clients were over 65. The largest age band remains age 76 To 85. We support all
- ● older people over 50.
- In the past year 16% of people accessing our services were from BAME communities.
- ● BAME communities represent 18% of the older population in Wolverhampton.
- Our client gender split remains steady at 64% / 36% Female to Male.
## **Contacts**
- 11687 contacts were made with people across all projects this year.
- Over 4200 contacts were made by volunteers supporting both our I&A and Telephone
- ● befriending services.
## **Information & Advice**
- The I&A service was accessed by 1654 people. The number of client contacts made was
- ● 3869.
- Time spent dealing with client queries was 1181 hours. Of this 97 Attendance Allowance
- ● applications were completed for clients taking an average of 2hrs 30.
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**AGE CONCERN WOLVERHAMPTON TRADING AS AGE UK WOLVERHAMPTON YEAR ENDED 31ST MARCH 2024**
- 3392 enquiry codes were logged. The main area of enquiry is regarding welfare benefits
- ● and other money, which account for 43% of contacts. We have seen a further 2% shift towards Health and Care enquiries this year and 5% more towards Age UK Services.
- 44% of clients were between 66 - 85 years old. The largest single age group was 66 - 75
- ● year olds accessing Information and Advice.
## **Benefits**
- We identified and helped people apply for £681,985 in benefits this year.
## **Telephone Support**
- Our dedicated volunteers and staff made 4106 Telephone befriending calls, for a total of
- ● 582 hours in 2023/24 to 109 isolated and vulnerable clients who would otherwise not get to speak to someone.
## **Volunteer Support**
- This year volunteers completed over 6500 hours of support over a range of services and
- ● activities.
The majority of volunteers’ time supported “addressing loneliness” in our clubs and ● befriending roles.
- 38% of our volunteers are within the 65 - 75 age bracket
- 33% of volunteers are male with 67% female
- The value of this support represented over £62,000 P/A
- Individual volunteers often support more than one service
- The age of volunteers ranged between 30 and 83 years
- 24% of our volunteers are from Black, Asian and Minority Ethnic communities
## **Planning for the Future**
## General
Age UK Wolverhampton has established a strong foundation of a varied portfolio of services delivered by excellent staff, and the exciting challenge now is to build on and expand this. All of next year’s funding is secured, with the majority looking to be secure for at least the following couple of years. This will provide us with the space for other income generation to grow, moving us towards
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## **AGE CONCERN WOLVERHAMPTON TRADING AS AGE UK WOLVERHAMPTON YEAR ENDED 31ST MARCH 2024**
being potentially financially independent in the future. Our new found dynamism makes us better placed to take advantage of funding opportunities, and we are optimistic that these will more than cover any future shortfalls, as well as allowing us to actively seek and work in partnership with others for the benefit of Wolverhampton’s older people. Notwithstanding this, we also have ample reserves to give us certainty for the next few years.
This last year saw us starting to consolidate around viable services and ways of working such as Daytime Discos, physical activities, handyperson service and our volunteer-led telephone helpline. These will continue to be expanded, along with our Home Help service. Up to now, the Home Help service has been a project looking at how we can re-imagine these services to better operate and meet the needs of older people. This is now ready for expansion.
Our outreach project supported by Know Your Neighbourhood funding (DCMS) has been a great success, enabling us to create new ways of reaching isolated older people, involving them in our activities and improving their quality of life. We will be looking at securing funds from a large national funder to continue this crucial work.
During the last year, we looked at developing an exciting and ambitious proposal for a major capital project, the House of Elders. This would provide a large building and gardens to support our vision of supporting active older people to remain active. There has been a lot of excitement from potential partners when we have shared this idea with them, including offers of resources. Progress has been slowed by other challenges which we have faced throughout the year, but this project remains in development, potentially waiting for the right opportunity to come along.
We will continue to expand our networks, building the reputation of Age UK Wolverhampton as a partner that is open for business, and rebuilding our reputation in the City as a key voluntary sector organisation. Much of this work has already happened and is progressing well. We will continue to test income streams, and scale those with potential based on evidence. We will continue to renew current funding and contract income wherever it is expedient to do so. We need to look at our governance and ensure that our Board membership is regularly refreshed and address lengths of tenures, and has a broad range of appropriate and necessary skills, as all healthy charities need to.
There is also the challenge of the new partnership agreement with Age UK national that thankfully may conclude next year after a process lasting several years since well before Covid. Our Board will ensure that whatever decision they make, whether to continue as a brand partner of Age UK or to disassociate and become an independent charity, they will do so in the best interests of Age UK Wolverhampton.
## Consideration of the charity as a going concern
The Charity has a stable operating model and services. Funding is largely secured with realistic expectations of meeting any shortfall. Notwithstanding this, there are ample reserves for several years of operation based on current projections. Independent income continues to grow. The reserves policy is more than adequately met.
## Risk Management Policy
All the major risks to which the Charity is exposed have been identified by the Trustees and actions agreed at Board Meetings to mitigate those risks. We are in the position of having significant
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## **AGE CONCERN WOLVERHAMPTON TRADING AS AGE UK WOLVERHAMPTON YEAR ENDED 31ST MARCH 2024**
reserves enabling us to mitigate against most risks. We have a ring-fenced reserve sum to enable orderly closedown should the situation arise.
## Our Funding
Statutory sector funding remains volatile, though is tending to be a significant contributor overall. We receive no core Local Authority funding, and the trends seem to be that this funding will reduce as they move towards bringing services in house. This must be presumed to be the future trend. We seek and apply for funding from a range of funders, and have had good success. However these tend to be small and one-off amounts. As an Age UK Brand Partner, we receive valuable though reducing support, including through the Warm Homes programme. Age UK have also indicated that funding from them directly to us via partners will increase in the coming years. Unrestricted funding which enables us to meet our overhead costs to deliver our services and to continue to operate remains a challenging pursuit. We continue to try to diversify income streams, with a strategic emphasis on developing independent income via services and activities provided for self-funders, with any surplus used to subsidise services that cannot attract their own funding.
## **Financial Review 2023/4**
The overall (summary) position at the year-end showed income of £390 540 and expenditure of £279 984 giving a net surplus of £110 556.
The gross level of reserves at the year-end was £476 472.
£300 000 has been designated towards a long term capital project. Much of this designation comprises legacies and donations. The aim is to replace the previous asset and operating base, Hupton House, which was liquidated a few years ago to address financial circumstances. This leaves £176 472 undesignated reserves, which represents c6 months of the 24-25 budget.
The reserves policy is £100 000, which meets the Charity Commission requirement of having at least three months routine running costs in reserve. However, this is a minimum, and as it is recognised that fundraising is particularly difficult at this current time, the ambition is to aim for a higher level.
## **Governance Structure**
## Governing Document
Age Concern Wolverhampton, trading as Age UK Wolverhampton, is a charitable company limited by guarantee. We became incorporated on 8th August 1995 after beginning life as the National Old People's Welfare Committee (O.P.W.C.) in 1952.
The company was established under a Memorandum of Association that established the objects and powers of the charitable company, and is governed by its Articles of Association. In the event of the company being “wound up” members are each required to contribute an amount not exceeding £1.
## Recruitment and Appointment of Trustees
Although Age UK Wolverhampton is a small to medium sized organisation, it is a complex one which operates in a challenging environment. Age UK Wolverhampton is involved in a very diverse range of activities and therefore the Trustee body aims to achieve a broad range, as well as a high level, of skills, in carrying out its governance role.
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## **AGE CONCERN WOLVERHAMPTON TRADING AS AGE UK WOLVERHAMPTON YEAR ENDED 31ST MARCH 2024**
Under the requirements of the Articles of Association the members of the Board are elected to serve
for a period of up to three years after which they must stand down at the next Annual General Meeting, but are eligible for re-election.
## Strategic Direction
The strategic direction of Age UK Wolverhampton is set by the Board. In making decisions about activities to be undertaken to achieve our Aims and Objectives the Trustees have had due regard to the Charity Commission’s guidance on public benefit.
## Organisation Structure
The Board is responsible for the strategic direction and policy of the Charity. Age UK Wolverhampton has a Board of Trustees consisting of 8 members. The Chief Officer has delegated responsibility from the Board for the provision and management of services and the day-to-day operation of Age UK Wolverhampton. The Chief Officer is supervised by the Board Chair.
The average number of staff employed by Age UK Wolverhampton in 2023-24 was 10 (all of whom were part time). Over the year we had the equivalent of 5 full time staff involved in the delivery of the services and programmes of Age UK Wolverhampton.
## Small Company Provision
This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.
## **Thanks to Supporters**
Grateful thanks to all those who supported us this year (donations & funding) :
Active Black Country Heart of England Community Foundation Age UK (National) Know Your Neighbourhood (DCMS) Black Country Healthcare NHS Foundation Trust UK Shared Prosperity Fund (W'ton City Council) Eon Wolverhampton City Council
Thank you too, to all of those who gave anonymous donations and to the numerous individuals who donated to our organisation and to those who very kindly left us legacies (we have not named individuals above unless requested, to protect anonymity)
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## **Financial Statements**
## **AGE CONCERN WOLVERHAMPTON**
## **TRADING AS AGE UK WOLVERHAMPTON**
## **Independent Examiners Report**
## **For the Year Ended 31st March 2024**
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2023 which is set out on pages 11 to 19.
## **Responsibilities and basis of report**
As the charity trustees of the company (who are treated as directors for the purposes of the company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ( 'The 2006 Act' )
Having satisfied myself that the accounts of the company are not required under Part 16 of the 2006 Act and are eligible for independent examination , I report in respect of my examination of your company's accounts as carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section
## **Independent Examiner's Statement**
Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I can confirm that I am qualified to undertake the examination because I am a member of The Institute Of Chartered Management Accountants
I have completed my examination . I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect :
(1) accounting records were not kept in respect of the company as required by section 386 of the 2006 Act, or
(2) the accounts do not accord with those records; or
(3) the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view ' which is not a matter considered as part of an independent examination ;or
(4) the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland ( FRS102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed Date 15/05/2024
Sally Jane Wainwright ACMA Isis House, Smith Road, Wednesbury, West Midlands WS10 0PB
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**STATEMENT OF FINANCIAL ACTIVITIES**
## **AGE CONCERN WOLVERHAMPTON TRADING AS AGE UK WOLVERHAMPTON COMPANY NO: 03088739 CHARITY NO: 1051232**
## **(INCLUDING INCOME AND EXPENDITURE ACCOUNT)**
|**Note**
**Incoming resources**
Income from Charitable Services
2
Legacies and Donations
_Activities for generating funds_
Operations
3
Investment income
4
_Incoming resources from_
**Total Income and endowments**
**Expenditure**
_Cost of generating funds_
Fund raising costs
5
Sub total cost of generating funds
_Charitable activities_
Cost of charitable activities
5
Governance costs
5
Exceptional Item
5
**Total Expenditure**
**Net income / (expenditure)**|
**Unre**
**Fu**|**FOR YEAR ENDED 31 MARCH 2024**
**Total**
**Total**
**stricted**
**Restricted**
**Funds**
**Unrestricted**
**Restricted**
**Funds**
**nds**
**Funds**
**2024**
**Funds**
**Funds**
**2023**
**£**
**£**
**£**
**£**
**£**
**£**
18,149
294,432
**312,581**
59,408
129,976
**189,384**
67,443
**67,443**
2,140
**2,140**
10,516
-
**10,516**
1,943
-
**1,943**
-|
|---|---|---|
|||96,108
294,432
**390,540**
63,491
129,976
**193,467**|
||||
|||2,475
**2,475**
1,110
**1,110**|
|||2,475
0
2,475
1,110
0
1,110
21,530
255,232
**276,762**
144,647
105,176
**249,823**
747
**747**
10,852
**10,852**
**0**
**0**|
|||24,752
255,232
**279,984**
156,609
105,176
**261,785**|
11
||71,356|39,200|110,556|(93,118)|24,800|(68,318)|
|---|---|---|---|---|---|---|
|**Reconciliation of Funds**|||||||
|Fund balances at 1 April 2023|341,116|24,800|**365,916**|434,234||**434,234**|
|**Transfer between funds**|||||||
|**Fund Balances at 31 March**|||||||
||412,472|64,000|**476,472**|341,116|24,800|365,916|
|**2023**|||||||
. These financial statements have been prepared in accordance with the financial reporting standards for smaller entities The Company is exempt from audit under CA 2006, s.477 (small companies) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with CA 2006, s 476 and
The directors acknowledge their responsibilities for complying with the requirements of CA 2006 with respect to accounting records and preparation of the accounts. S. 472(2)-(3)
These financial statements were approved by the members of the board of trustees on 10/10/2024 and are signed on their
behalf by:
**J Emery Chair**[Wudy—]
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## **AGE CONCERN WOLVERHAMPTON TRADING AS AGE UK WOLVERHAMPTON COMPANY NO: 03088739 CHARITY NO: 1051232**
**BALANCE SHEET (INCLUDING INCOME AND EXPENDITURE ACCOUNT)**
## **Consolidated and Charity Balance Sheets**
|**Year Ended 31st March 2024**
**Note**
**Fixed assets**
Tangible assets
9
**Current assets**
Debtors
10
Cash at bank and in hand
**Creditors – amounts falling due within one year**
11
**Net current assets**
**Total assets less current liabilities**
**Unrestricted funds**
General
12
**Restricted funds**
13|**Charity**
**2024**
**2023**
**£**
**£**
14,553
2,414|
|---|---|
||14,553
2,414|
||7,125
1,122
460,586
368,344|
||467,711
369,466|
||(5,792)
(5,964)|
||461,919
363,502|
|||
||476,472
365,916|
|||
||412,472
341,116
64,000
24,800|
||**476,472**
365,916|
13
These financial statements have been prepared in accordance with the financial reporting standards for smaller
entities The Company is exempt from audit under CA 2006, s.477 (small companies)
The members have not required the company to obtain an audit of its accounts for the year in question in
The directors acknowledge their responsibilities for complying with the requirements of CA 2006 with respect to accounting records and preparation of the accounts. S. 472(2)-(3)
These financial statements were approved by the members of the board of trustees on 10/10/2024 and are
signed on their behalf by:
## **J Emery Chair**
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## **AGE CONCERN WOLVERHAMPTON**
## **TRADING AS AGE UK WOLVERHAMPTON**
## **COMPANY NO: 03088739**
## **CHARITY NO: 1051232**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **AS AT 31 MARCH 2024**
## **1. Accounting policies**
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019) - (Charities SORP (FRS 102)).
The charity has applied Update Bulletin 1 as published on 2 February 2016 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A.
Age UK Wolverhampton is a brand partner of Age UK the national charity and as a result will have access to funding streams from the national organisation. The trustees anticipate that there will be sufficient unrestricted reserves for the charity to continue as a going concern and therefore the financial statements are prepared on a going concern basis under the historical cost convention, modified to include the revaluation of investments. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £1.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
The accounts have been prepared on the historic cost basis.
## **Going concern**
In early March 2020, the COVID-19 virus was declared a global pandemic. Business continuity, including supply chains and consumer demand across a number of industries and countries, could be severely impacted for months or more, as governments and their citizens take significant and unprecedented measures to mitigate the consequences of the pandemic.
The trustees are monitoring the ever changing situation and continue to evaluate the charity’s ability to continue to trade on an ongoing and foreseeable basis. However, due to the uncertainty surrounding COVID-19 no adjustments have been made to these financial statements which may arise from the impact of COVID-19 on the charity. Despite the unknown impact COVID-19 may or may not have on the charity under normal circumstances the trustees would have had a reasonable expectation that the charity has adequate resources, thus the trustees would have adopted the going concern basis of accounting.
As with most charities, the trustees are mindful of the uncertain timing of incoming resources such as legacy income being of an unpredictable nature. At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees
continue to adopt the going concern basis of accounting in preparing the financial statements.
## **Funds**
Funds held by the charity are either:
Restricted funds - these are funds that can only be used for particular restricted purposes within the objects of the charity. when specified by the donor or when funds are raised for particular restricted purposes. **Income**
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income has been met, it is probable that income will be received and the amount can be measured reliably. Such income is only deferred when:
Income from commercial trading activities is recognised as earned (as the related goods and services are provided). Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the Friends is not recognised and refer to the trustees’ annual report for more information about their contribution. On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
## **Interest receivable**
Interest is included when receivable by the charity.
## **Expenditure and irrecoverable VAT**
Resources expended are included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT which cannot be recovered.
Certain expenditure is directly attributable to specific activities and has been included in those cost categories. Certain other costs, which are attributable to more than one activity, are apportioned across cost categories on the basis of an estimate of the proportion of time spent by staff on those activities.
## **Allocation of support costs**
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources. Support costs include back office costs, personnel and payroll.
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## **AGE CONCERN WOLVERHAMPTON**
## **TRADING AS AGE UK WOLVERHAMPTON**
**COMPANY NO: 03088739**
## **CHARITY NO: 1051232**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **AS AT 31 MARCH 2024**
## **Pension costs**
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the income and expenditure account.
## **Redundancy costs**
Following the accrual accounting methodology, liabilities for redundancy and termination payments are recognised when the obligation to make the payment arises and not when the payments are made.
## **Governance costs**
Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to statutory accounts and legal fees.
## **Operating leases**
Rentals payable under operating leases are charged in the Statement of Financial Activities as incurred.
## **Tangible fixed assets**
Tangible fixed assets are capitalised at cost and depreciated so as to write them off over their anticipated useful lives at the following annual rates, commencing in the year of acquisition:
Fixtures and fittings Motor vehicles 25% reducing balance Computer and office equipment 25% straight line 25% straight line
## **Debtors and creditors receivable / payable within one year**
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
## **Cash at bank and in hand**
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account
## **Provisions**
Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefit will be required in settlement and the amount can be reliably estimated.
## **Tax**
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
## **Legal status**
Age UK Wolverhampton is the trading name of Age Concern Wolverhampton (the Company).
Age UK Wolverhampton is a company limited by guarantee governed by its Memorandum and Articles of Association dated 8 August 1995. It is registered as a charity with the Charity Commission. Anyone over the age of 18 can become a member of the Company and there are currently 11 members (11 in 2019), each of whom agrees to contribute £1 in the event of the charity winding up.
## **Judgements and key sources of estimation uncertainty**
In the application of the charitable accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
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AGE CONCERN WOLVERHAMPTON TRADING AS AGE UK WOLVERHAMPTON COMPANY NO: 03088739 CHARITY NO: 1051232
## **AGE CONCERN WOLVERHAMPTON TRADING AS AGE UK WOLVERHAMPTON COMPANY NO: 03088739 CHARITY NO: 1051232**
## **NOTES TO THE FINANCIAL STATEMENTS AS AT 31 MARCH 2024**
## **2 Income from charitable services**
|Grants and service level agreement receivable
Private Sector Grants/ Age UK
Other Public Sector Service Contracts
Word of Mouth Traders
Handyman|**Unrestricted**
**Restricted**
**Total**
**Unrestricted Restricted**
**Total**
**Funds**
**Funds**
**Funds**
**Funds**
**2024**
**2023**
**£**
**£**
**£**
**£**
**£**
**£**
217,271
**217,271**
41,512
129,976
171,488
77,161
**77,161**
1,000
1,000
4,410
**4,410**
9,105
9,105
13,739
**13,739**
9,931
9,931|
|---|---|
||18,149
294,432
**312,581**
61,548
129,976
191,524|
## **3 Operations**
Operations revenue consists of contributions towards operating costs from users of premises and services
|**4 Investment Income**
Interest on fixed and notice bank accounts|**Unrestricted**
**Restricted**
**Total**
**Unrestricted Restricted**
**Total**
**2024**
**2023**
**£**
**£**
**£**
**£**
**£**
**£**
10,516
**10,516**
1,943
**1,943**
.|
|---|---|
||10,516
0
**10,516**
1,943
0
1,943|
17
## **AGE CONCERN WOLVERHAMPTON TRADING AS AGE UK WOLVERHAMPTON COMPANY NO: 03088739 CHARITY NO: 1051232**
## **NOTES TO THE FINANCIAL STATEMENTS AS AT 31 MARCH 2024**
## **5 Analysis of expenditure on charitable activities**
Ths Charity undertakes direct charitable activities only and does not make grant payments.
|Direct Charitable expenditure
Commercial trading operations
Cost of generating funds
Governance
Exceptional Items
Total resources expended
Direct Charitable expenditure
Commercial trading operations
Cost of generating funds
Governance
Exceptional Items
Total resources expended|**Staff costs**
**Other Costs**
**2024**
**Unrestricted**
**Restricted**
**Unrestricted**
**Restricted**
**Total**
**£**
**£**
**£**
**£**
**£**
15,101
222,996
2,547
4,440
245,084
2,475
2,475
747
747
-|
|---|---|
||15,101
222,996
5,769
4,440
248,306|
|||
||**Staff costs**
**Other Costs**
**2023**
**Unrestricted**
**Restricted**
**Unrestricted**
**Restricted**
**Total**
**£**
**£**
**£**
**£**
**£**
127,368
87,702
23,479
9,803
248,352
4,652
7,671
12,323
1,110
1,110
-|
||127,368
87,702
29,241
17,474
261,785|
18
## **AGE CONCERN WOLVERHAMPTON TRADING AS AGE UK WOLVERHAMPTON COMPANY NO: 03088739 CHARITY NO: 1051232**
## **NOTES TO THE FINANCIAL STATEMENTS AS AT 31 MARCH 2024**
## **6 Other costs**
|**Premises costs :**
Accommodation (Rent/Utilities/Cleaning)
**Communications costs :**
Telephone & internet
Printing, postage & stationery
**General office costs :**
Staff & volunteers travel
Staff & volunteers expenses (driver apparel &
uniforms
Professional fees & subscriptions
Insurance
Repairs, maintenance & support contracts
Publications, advertising & recruitment
Training costs
General office & miscellaneous expenses
Vehicle costs
Equipment
Depreciation
Bad Debts
**Total costs**
Charitable Activities|||**2024**
**Unrestricted**
**£**
1,872|**2024**
**2024**
**2023**
**Restricted**
**Total**
**Unrestricte**
**d**
**£**
**£**
**£**
15,921
17,793
5,275|**2023**
**2023**
**Restricted**
**Total**
**£**
**£**
9,803
15,078|
|---|---|---|---|---|---|
|||||||
||||.|.
4,488
4,488
2,856
2,346
2,346
6,015|-
8,871
702
1,006
2,149
1,637
-
-
200
1,585
2,359
-
805
-
10,443
9,803
34,392
9,803
31,917
2,856
6,015|
||||-|6,834
6,834
8,871||
|||||||
||||225
101
477
5
1,202|1,308
1,533
702
804
905
1,006
1,320
1,320
2,149
500
977
1,637
-
-
-
200
609
614
1,585
500
1,702
2,359
-
-
805||
||||2,010|5,041
7,051
10,443||
|||||||
|||||||
||||3,882|27,796
31,678
24,589||
|||||||
||||660|27,796
28,456
22,114||
19
|Fundraising Costs
Governance|2,475
2,475
2,475
2,475
747
747
-
-|
|---|---|
||3,882
27,796
31,678
24,589
9,803
34,392|
20
## **AGE CONCERN WOLVERHAMPTON TRADING AS AGE UK WOLVERHAMPTON COMPANY NO: 03088739 CHARITY NO: 1051232**
**NOTES TO THE FINANCIAL STATEMENTS AS AT 31 MARCH 2024**
## **7 Analysis of staff costs**
|Salaries & wages
Social security costs
Pension Costs - Stakeholder Pension
Redundancy||**2024**
**Total**
**£**
208,764
9,810
14,764|**2023**
**Total**
**£**
189,540
10,144
15,386|
|---|---|---|---|
|||233,338|**215,070**|
No employees had benefits in excess of £60,000 (2022 - no employees had employee benefits) .
|The average number of staff employed by the group|||
|---|---|---|
|during the financial year amounted to :|10|9|
No trustees received any remuneration
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## **AGE CONCERN WOLVERHAMPTON**
## **TRADING AS AGE UK WOLVERHAMPTON**
## **COMPANY NO: 03088739**
## **CHARITY NO: 1051232**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **AS AT 31 MARCH 2024**
## **8 Movement in total funds for the year**
|**Operating surplus/deficit is stated after charging :**
Staff Pension Contributions
Depreciation
Accountancy Fees|**2024**
**£**
**14,764**
**4,750**
**747**
**20,261**|**2023**
**£**
15,386
805
738|
|---|---|---|
|||16,929|
22
## **AGE CONCERN WOLVERHAMPTON**
## **TRADING AS AGE UK WOLVERHAMPTON**
## **COMPANY NO: 03088739 CHARITY NO: 1051232 NOTES TO THE FINANCIAL STATEMENTS**
|**9**|**AS AT 31 MARCH 2024**
**Tangible fixed assets**
**Motor**
**Vehicles**
**& equipment**
**£**
**Cost**
At 1 April 2023
69,142
Additions
16,889
Disposals
At 31 March 2024
86,031
**Depreciation**
At 1 April 2023
66,728
Charge for year
4,750
Disposals
At 31 March 2024
71,478
**.**
**As at 31 March 2023**
2,414
**At 31 March 2024**
14,553|**Total**
**£**
69,142
16,889
0|
|---|---|---|
||||
|||86,031|
||||
|||66,728
4,750|
|||71,478|
||||
||||
|||2,414|
||||
||||
|||14,553|
23
## **AGE CONCERN WOLVERHAMPTON TRADING AS AGE UK WOLVERHAMPTON**
## **COMPANY NO: 03088739**
## **CHARITY NO: 1051232**
## **NOTES TO THE FINANCIAL STATEMENTS**
## **AS AT 31 MARCH 2024**
## **10 Debtors**
|Trade debtors
Prepayments|**Charity**
**Charity**
**2024**
**2023**
**£**
**£**
6,811
808
314
314|
|---|---|
||7,125
1,122|
**11 Creditors - amounts falling due within one year**
|Trade creditors
Other creditors
Taxation & Social Security
Accruals & deferred income (*)|**Charity**
**2024**
**2023**
**£**
**£**
406
368
1,741
2,695
3,442
445
203
2,456|
|---|---|
||**5,792**
**5,964**|
24
## **AGE CONCERN WOLVERHAMPTON TRADING AS AGE UK WOLVERHAMPTON COMPANY NO: 03088739 CHARITY NO: 1051232**
## **NOTES TO THE FINANCIAL STATEMENTS AS AT 31 MARCH 2024**
## **12 Reserves**
## **Fund movements:-**
||||||
|---|---|---|---|---|
|**13**|**Fund movements:-**
General fund :
Balance 01 April 2023:
Movement in fund for the year
Balance at 31 March 2024:
**Restricted Funds**
Age UK Initiatives
Citizens Advice
Fitbits
Choosewell
Reduce Isolation
Know your neighbourhood
Wolverhampton CC (SPF)
Safer Streets
Joining Forces
Wider Determinants of Health
Winter Pressures
Active black country together|**Balance b/f**
**Movement in Resources**
**01.04.2022**
**Incoming**
**Outgoing Transfers**
**£**
**£**
**£**
**£**
0
16,625
-1,625
0
20,000
-16,000
-205
10,265
-10,060
-30
5,350
-5,320
235
15,686
-15,921
0
32,050
-32,050
0
8,800
-3,000|**2024**
**£**
365,916
110,556
476,472
**Balance**
**Moveme**
**31.03.2023**
**Incoming**
**£**
**£**
15,000
78,26
4,000
16,00
1
0
10,00
51,41
83,34
0
0
87
0
49,52
0
5,800
5,00|**2023**
£
434,234
(68,318)
365,916
**nt in Resources**
**Balance**
**Outgoing**
**Transfers 31.03.2024**
**£**
**£**
**£**
2
-85,210
8,052
0
-18,000
2,000
4
-14
0
0
0
-9,000
1,000
0
-49,490
1,920
5
-78,122
5,223
0
5
-875
0
6
-4,501
45,025
0
0
-10,020
780|
||||||
|||0
108,776
-83,976
|0
24,800
294,43|2
-255,232
0
64,000|
*AGE UK Initiatives - (See also 'Joining Forces' below*)
- Funding via Age UK from the Warm Homes Programme (multiple suppliers) for benefits advice including saving energy/paying less
*Joining Forces - Supporting Veterans, is a partnership project between Age UK, SAFFA and the MoD funded by the Aged Veterans project which is funded by the Chancellor using LIBOR funds. AUKW is one of 12 partners nationally delivering a Joining Forces Programme. Our service provides support to older veterans (born before 1950) and their families and carers. It commenced in May 2017
25
## **AGE CONCERN WOLVERHAMPTON TRADING AS AGE UK WOLVERHAMPTON COMPANY NO: 03088739 CHARITY NO: 1051232**
## **NOTES TO THE FINANCIAL STATEMENTS AS AT 31 MARCH 2024**
## **14 Pensions**
The company operates two defined contribution pension schemes. The assets of the scheme are held separately from those of the company in independently administered funds. The pension charge represents contributions payable by the company to the funds within the year. At the year end £1,741 (2023 £837) were owing to the pension companies. The pension charge of £14,764 (£15,386 2023) was made in respect of contributions made by the company to funds within the year.
## **15 Financial commitments**
As at 31 March 2024 the charity has annual commitments under non-cancellable leases as follows
|Within 1 year
1 - 2 years
2 - 5 years|Land and Buildings
2024
2023
£
£
0
0
0
0
0
0
0
0|Office Equipment
2024
2023
£
£
0
0
0
0
0
0|
|---|---|---|
|||0
0|
## **16 Analysis of Charity net assets between funds**
|**Tangible**
**Cash at bank**
**Other net**|**Unrestricted Restricted**
**2024**
**Funds**
**Fund**
**Total**
**£**
**£**
**£**
14,553
**14,553**
396,586
64,000
**460,586**
1,333
**1,333**
412,472
64,000
**476,472**|**Unrestricted Restricted**
**2023**
**Funds**
**Fund**
**Total**
**£**
**£**
**£**
2,414
**2,414**
368,344
**368,344**
(29,642)
24,800
**(4,842)**|
|---|---|---|
|||341,116
24,800
**365,916**|
## **17 Taxation**
The company is a registered charity and no provision is considered necessary for taxation
26
## **18 Related Party Transactions**
There were no transactions with related parties during the year and no balances outstanding with any related parties
## **19 Events after the balance sheet date**
The trustees are monitoring the ever changing situation. The trustees are confident they have enough funds going forward
27