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← Age UK Hillingdon, Harrow And Brent

2025-03-31-accounts

Company number: 03136052 Charity number: 1051711

Age UK Hillingdon, Harrow and Brent

Report and financial statements For the year ended 31 March 2025

Age UK Hillingdon, Harrow and Brent

Contents

For the year ended 31 March 2025

Reference and administrative information ...................................................................................... 1 Trustees’ annual report .................................................................................................................. 3 Independent auditor’s report ....................................................................................................... 23 Statement of financial activities (incorporating an income and expenditure account) ................... 27 Balance sheet ............................................................................................................................... 28 Statement of cash flows ................................................................................................................ 29 Notes to the financial statements ................................................................................................. 30

Age UK Hillingdon, Harrow and Brent

Reference and administrative information

For the year ended 31 March 2025

Company number 03136052
Country of incorporation England & Wales
Charity number 1051711
Country of registration England & Wales
Registered office and Unit 3 Chapel Court
operational address 126 Church Road
HAYES
UB3 2LW

Age UK Hillingdon, Harrow and Brent also trades under the names: Age UK Hillingdon, Age UK Harrow, Age UK Brent and Age UK North West London.

Trustees Trustees, who are also directors under company law, who served during the year and up to the date of this report were as follows:

Neil Franklin Chair
Carolina Castillo Vice-chair
Roger Calverley Treasurer
Christine Beatty
Heather Du Pille
Peter Slavid
Natasha Spence
Kalpa Kharicha
Christopher Jenner
Ekanjali Dhillon Appointed 26 February 2025
Sadaf Dhalabhoy Appointed 23 April 2025
Honorary President The Mayor of Hillingdon
Key management Julian Lloyd Chief Executive & Company Secretary
personnel Samantha MacKenzie Director of Resources
Elizabeth Tack Director of Services (until 31 October 2024)
Janice Johnson Director of Services (9 December 2024 to 24 April
2025)
Dawn Sines Director of services (since 28 July 2025)
Bankers CAF Bank Ltd,
25 Kings Hill Avenue, West Malling,
Kent, ME19 4JO

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Age UK Hillingdon, Harrow and Brent

Reference and administrative information

For the year ended 31 March 2025

Santander Bank Bridle Road Bootle Merseyside, L30 4GB Solicitors Stephens Scown LLP Curzon House, Southernhay West, Exeter, Devon EX1 1RS Auditor Sayer Vincent LLP Chartered Accountants and Statutory Auditor 110 Golden Lane LONDON EC1Y 0TG

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Age UK Hillingdon, Harrow and Brent

Trustees’ annual report

For the year ended 31 March 2025

The trustees present their report and the audited financial statements for the year ended 31 March 2025.

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association, the requirements of a directors’ report as required under company law, and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

Objectives and activities

Purposes and aims

Our Mission, Vision, Values and Aims

Our Mission

Together, we provide crucial support for older people and their carers and drive improvements across Hillingdon, Harrow and Brent.

Our Vision

For every older person in Hillingdon, Harrow and Brent to feel included and valued

Our Values

The foundations of how we behave and interact as we deliver our mission

Our Aims

Empowering, Enabling and Supporting

Our aims for the older people in Hillingdon, Harrow and Brent are to:

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Age UK Hillingdon, Harrow and Brent

Trustees’ annual report

For the year ended 31 March 2025

Strategic Objectives

To enable us to grow, have a sustainable future and achieve our aims we have set a number of strategic objectives.

These are to:

  1. Provide services to older people in our area so they feel informed, valued, connected and empowered

  2. Reduce the number of older people living in poverty and experiencing health inequalities

  3. Use our resources, particularly technology, to improve productivity, reach and impact

  4. Pursue strategic alliances to develop and enhance service provision, income generation and influence

  5. Diversify and grow our income

  6. Promote the work of the charity

  7. Develop, support and value our staff and volunteers

  8. Consolidate our position in preparation for a longer-term strategy

The three-year strategy set out above was developed and signed off by the board of Trustees and is set to cover the period 2025-2027.

The trustees review the aims, objectives and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the trustees ensure the charity's aims, objectives and activities remained focused on its stated purposes.

The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set.

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Age UK Hillingdon, Harrow and Brent

Trustees’ annual report

For the year ended 31 March 2025

ACTIVITIES:

1) Information, advice and signposting services

The provision of impartial and free Information, Advice and signposting is a core requirement of the Age UK Network Agreement and the cornerstone service of Age UK Hillingdon, Harrow and Brent. We provide general information, advice and casework surgeries from 7 locations, along with a digital and phone-based service available 5 days a week, plus a national telephone helpline that is available 365 days a year.

Alongside our generalist Information and Advice service, our team provided a range of specialist casework services.

The Welfare Benefits and Financial Health Check services aim to make sure older people in Hillingdon are claiming all the benefits to which they may be entitled.

Our Housing Advice service provides information, advice and practical support to older people, who are thinking about moving or who just wished to remain independent in their own home. We provide specific support for those in private rented accommodation who may have insecure tenancies or poor support from landlords. Funding from Age UK for our Home Sweet Home project commenced in August 2024 enabling us to extend housing advice to residents of Harrow and Brent.

Our Warm Homes and our Energy Advice services help older residents keep their homes warm and put in place measures to reduce expenditure on utility bills. This work enhanced through funding from Cadent from September 2024 to provide energy efficiency advice to Harrow residents.

In partnership with a number of local solicitors, we are able to provide a free or discounted Will Writing Service to those over the age of 55 .

Social Prescribing/Wellbeing

Social prescribing is when health professionals refer patients to support in the community, in order to improve their health and wellbeing.

In Harrow we deliver a Social Prescribing Link worker service on behalf of Harrow Collaborative Primary Care Networks (PCN).

2) Social Contact

Community Services

One third of older people in Hillingdon, Harrow and Brent live alone, rising to over 50% of older people aged 80 and over. Our aim is to reduce loneliness and isolation by providing a range of services that offer friendship, access to services and support, as well as an opportunity to participate in new activities that can improve mental and physical well- being.

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Age UK Hillingdon, Harrow and Brent

Trustees’ annual report

For the year ended 31 March 2025

Our Social Wellbeing Team provides a range of group ageing well and 1-1 support services as well as activity sessions from our Townfield Community Centre.

Our range of groups and clubs provide a valuable opportunity for older people to socialise and take part in activities. We support group activities across all three boroughs, from small social or special interest groups (such as our Vinyl Club ), through to more substantial groups such as our Carib Club and our Knitting Clubs which can have attendances of over 30 older people. In February 2025 we launched our Harrow Warm Hub, providing a warm space for older residents in Harrow where we provide advice sessions and an opportunity for older residents to socialise.

Our Community Support Service volunteers help to reduce loneliness and promote independence by providing telephone befriending and our Good Neighbours project. This service utilises volunteers to support those who have lost confidence to re-engage with services provided by Age UK HHB and others.

3) Supporting good health outcomes

Hospital services

Age UK HHB has been providing support to older people in Hillingdon Hospital for the last 20 years. We provide support, information and advice to older people in A&E and, if they are not admitted to hospital, our support workers escort the patient home and ensure they are safe. This support aims to ensure elderly patients fully recover their confidence and independence to help avoid re- admissions to hospital. We also have Take Home and Settle Service that supports older people who are discharged from hospital. Our staff will accompany a patient home and take on any tasks necessary to ensure they are settled safely and best placed to complete recouperation.

We deliver a discharge support service for Northwick Park Hospital, in partnership with Harrow Carers, supporting residents of Harrow and Brent who are discharged home.

We also work in partnership with Age UK Buckinghamshire to provide a Discharge Support Service to residents of Buckinghamshire . This service combines the discharge expertise of Age UK HHB with the local knowledge and integration of Age UK Bucks to best support the older residents of Buckinghamshire.

The provision of discharge services across the wider geography ensures we can support older people across borough boundaries, a factor that traditionally challenges local service provision.

Hospitals are under unprecedented pressure and a very high proportion of hospital patients are older residents. As such we feel this is an important area of work where we are able to work in partnership with the NHS helping to reduce pressure on scarce resources whilst supporting good health outcomes for older residents.

Our physio led, free Falls Prevention Service is a key element of the Hillingdon Falls Prevention service. Members of our team visit people at home to carry out a risk assessment to identify any

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Age UK Hillingdon, Harrow and Brent

Trustees’ annual report

For the year ended 31 March 2025

potential risks and offer advice on how to prevent further falls. Aids and adaptations are recommended and a programme of exercise is introduced and supported, in order to help build confidence.

Charged for services

Our Help at Home is a chargeable service that supports older people to live independently and safely in their home of choice by giving a hand with shopping (including internet shopping), housework, laundry and a variety of other small tasks. We will also provide welfare visits, support for those living with dementia, accompanied walks and decluttering services. The service offers great flexibility in order to support and promote indendence.

Our Trusted Traders Service provide a wider range of professional services to older people across the region, at affordable prices, by local, reputable tradespeople. This service is an important mechanism to provide access to tradespeople who are vetted by Age UK HHB and helps us in the fight against Rogue Traders.

Our Homeshare service is operated in partnership with Two Generations

https://twogenerations.co.uk designed to help reduce isolation and improve wellbeing. It enables two unrelated people to share a home for mutual benefit. An older person with a spare room (Householder) is carefully matched with a person who is in need of low-cost accommodation (Sharer). In return for accommodation the Sharer gives the Householder 10 hours of their time each week as a combination of practical support and companionship.

Age UK HHB provides paid for support to establish a Lasting Power of Attorney. This service is based upon a model developed by Age UK. We are operating the service in partnership with Age UK Ealing, Age UK Hammersmith and Fulham, Age UK Hounslow, Age UK Kensington and Chelsea and Age UK Westminster to support older residents of Northwest London to set up a Lasting Power of Attorney at an affordable price. The service is delivered at cost as we believe a Lasting Power of Attorney is in the best interests of older people. Any profits generated through this service will contribute towards the work of Age UK partners supporting older residents of Northwest London.

4) Income generation activities

We operate 2 charity shops in Hillingdon – one in Ruislip and one in Kings Hill.

We run a number of fundraising events and activities through the year. Our ‘Big Knit’ campaign in partnership with Innocent Smoothies is supported by our knitting groups who raise hundreds of pounds each year through knitting hats. We also benefit from donations and occasional legacies from older residents who would like to contribute to the work that we do.

All income generated from fundraising activities support our ability to deliver activities in line with our charitable objectives as detailed above.

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Age UK Hillingdon, Harrow and Brent

Trustees’ annual report

For the year ended 31 March 2025

ACHIEVEMENTS AND PERFORMANCE:

The board reviews performance of service delivery against contractual and business planning targets. Detailed traffic light reports are reviewed on a quarterly basis any areas of underperformance are highlighted and remedial actions agreed. For the year 2024/25 there were only occasional dips in performance usually through staffing vacancies, but these dips smoothed through the course of the year and our target outcomes and outputs were met or exceeded. Highlights set out below:

1) Information and advice services

Social Prescribing Services

Main reasons for referrals were:

2) Social Contact

Community Services

3) Supporting Good Health Outcomes

Hospital Services

Hillingdon Hospital

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Age UK Hillingdon, Harrow and Brent

Trustees’ annual report

For the year ended 31 March 2025

Northwick Park

Buckinghamshire (Stoke Mandeville and Wexham Park)

Hillingdon Falls

Charged for services

PERFORMANCE AGAINST STRATEGIC OBJECTIVES:

  1. Provide services to older people in our area so they feel informed, valued, connected and empowered

As detailed above, information and advice is the cornerstone of our support for older people. Performance data demonstrates we have strong reach and impact in this area. We have greatest capacity through commissioned service provision in Hillingdon. We have been successful in securing funding from a range of grant sources to provide Information and Advice in Harrow and Brent where we work closely with other advice providers. We are fully integrated with the Age UK National Helpline which provides additional capacity, enabling us to offer support for extended hours across all three boroughs. Information and Advice is often the entry point for older residents into Age UK HHB, where our skilled advisors will assess need and guide residents to services that best meet their identified needs.

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Age UK Hillingdon, Harrow and Brent

Trustees’ annual report

For the year ended 31 March 2025

2. Reduce the number of older people living in poverty and experiencing health inequalities

Eligibility criteria for all services ensure we are targeting those whose needs are greatest. Much of our community service provision is targeted at reducing isolation which impacts on a significant proportion of older people. Our hospital services are geared towards supporting those who are most frail and vulnerable and at risk of losing independence. Our social prescribing services support older people living with long-term conditions, particularly targeting those who are not managing their conditions well. Our information and advice services prioritise those on low incomes, living in deprivation and/or in poor housing with the objective of improving quality of life. We are working proactively with NHS and Local Authorities to reduce health inequalities which are often exacerbated by many of the underlying determinants of poor health and wellbeing. We continue to focus our energies on supporting those older people in greatest need.

3. Use our resources, particularly technology, to improve productivity, reach and impact

We embrace technology to improve service provision, efficiency and to enable us to effectively capture and evidence impact which is important for our Trustees and our funders. As an early adopter of the National Age UK Salesforce project, we have a modern, embedded and continuously improving Client Record System. 95% of our services are now completely paper free. We utilise digital scheduling and rotas for service provision, Salesforce applications on mobile phones and Voice over Internet phone. Our staff have smartphones and we are an early adopter of AI technology to automate note taking and wider applications across the charity. We have worked with Third Sector Together and Brunel University to pilot a new Impact Framework commissioned by NHS North West London which provides validated impact measures for our health and local authority commissioned services.

4. Pursue strategic alliances to develop and enhance service provision, income generation and influence

We have been successful at nurturing and building on strategic alliances in all three boroughs. Age UK HHB continue to play a leading role within H4All/Third Sector Together NWL (a third sector partnership based in Hillingdon). We are on the board of Harrow Together (a third sector consortium in Harrow) and through this partnership we deliver a number of services including Information and Advice (through the SWISH partnership) and Social Prescribing (with 2 VCS partners). In partnership with Harrow Carers we provide a Discharge Support Service from Northwick Park Hospital that supports older residents in Harrow and Brent. Age UK HHB is working collaboratively with Age UK partners across Northwest London and is represented on the leadership of 3ST, a third sector collaborative that operates across the North West London region in line with NHS commissioning structures. We work in partnership with Age UK Buckinghamshire to deliver hospital discharge services in Buckinghamshire. We have developed a Lasting Power of Attorney service with 5 Age UK partners, delivering a service across Northwest London. During 2024/25 we built the Hillingdon Advice Partnership with Bell Farm, Nucleus and DASH – this partnership went on to successfully secure funding to deliver advice services in Hillingdon under a seven year contract commencing in 2025.

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Age UK Hillingdon, Harrow and Brent

Trustees’ annual report

For the year ended 31 March 2025

5. Diversify and grow our income

2024/25 has been a challenging year for Age UK HHB with a very difficult external environment that has seen wide reaching service and funding cuts. Despite this we have retained most of our income streams and been successful in securing our advice services in Hillingdon which were retendered along with a new contract delivering dementia services in partnership with Age UK Buckinghamshire.

Our three main areas of income are NHS contracts, Local Authority contracts and grants and our paid for services. We have seen a small reduction in NHS contracted income, offset by a slight growth in local authority contracted income. A key challenge with contractual income is the lack of inflationary uplifts despite rising delivery costs.

Grant funding has always been competitive, but in recent years all grant funding bodies have reported significant increase in funding applications which reduces the proportion of charities and projects that can be funded. Against this backdrop we secured a three-year extension of funding from Mercers, two projects funded through grants administered by Age UK and a new programme supporting older people to recuperate post hospital discharge funded through the Rayne Foundation.

There remains much uncertainty, particularly with NHS funding (due to the restructuring of NHS) which means that many of our NHS contracts are being extended for short-term periods.

Our Help at Home service remains our most developed paid for service which accounts for around 20% of our turnover. We utilise technology and partnership working with Age UK Kensington and Chelsea to optimise efficiency and ensure that the service operates on a cost neutral basis offering value for money to older customers.

Additionally we operate a number of smaller scale ventures which have potential to develop and grow – our Lasting Power of Attorney, Homeshare and Trusted Trader services.

6. Promote the work of the charity

Over recent years the profile of Age UK HHB has grown to become recognised as the leading charity supporting older people across the region, particularly amongst decision makers within the local authorities, NHS and voluntary sector.

We have secured regular articles in the Local Authority newspapers which are distributed to every household. We have also stepped up our social media presence with regular X and Instagram feeds, updated Facebook and Linkedin pages and we have invested time in revamping and updating our website to promote the work of our organisation.

We are proactive in outreach, attending public events across all three boroughs, providing talks, presentations, stalls etc

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Age UK Hillingdon, Harrow and Brent

Trustees’ annual report

For the year ended 31 March 2025

Age UK HHB is the lead third sector agent for older people with each of the 3 local authorities. We hold positions within each of the local care partnerships at borough level and also hold a seat on the leadership team of 3ST and have positions on key NHS boards representing the third sector across Northwest London.

Our work, particularly around collaboration, partnership and integration has been recognised by NHS England, Age UK and London partners, and we have presented at a range of national forums.

We have approved a marketing strategy and will invest in our marketing to further promote our work during 2025/26.

  1. Develop, support and value our staff and volunteers.

All staff and volunteers receive a tailored induction programme when joining Age UK HHB. Every member of staff and volunteer has clear objectives and a development plan which are appraised annually and reviewed regularly through 1-1 supervision.

We provide regular team meetings for all staff and volunteers and on an annual basis provide larger events for staff and volunteers. We also produce staff and volunteer newsletters on a regular basis.

Our staff and volunteers contributed to the development of our new 3-year strategy which was developed during 2024 through a series of workshop and consultation exercises. Staff and volunteers contribute towards the annual review of our strategy and were engaged at our Staff and Volunteer away days during 2024/25. We survey our staff and volunteers on an annual basis and develop an action plan based upon the findings.

We currently hold Investors in People Silver Award which is reviewed annually. Our assessor commended Age UK HHB and recommended us for an Investors in People award.

We undertook an independent pay review in 2022/23 to ensure a fair pay structure that is in line with our sector and salaries are reviewed on an annual basis by the board of Trustees who endeavour to ensure salaries keep pace with inflation. We maintain our commitment to the London Living Wage.

At the end of March 2025 we had 90 staff and 127 volunteers. Our volunteers contributed an estimated 19,812 hours of their time during the year. Based on the London Living Wage, this equates to a value of £274,396 a vital contribution to delivering our services and achieving our goals.

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Age UK Hillingdon, Harrow and Brent

Trustees’ annual report

For the year ended 31 March 2025

8. Consolidate our position in preparation for a longer-term strategy

In recognition of the current challenging climate we are focusing on securing and retaining existing income streams and services.

We are continuing to explore opportunities to grow and diversify our services, but acknowledging that such opportunities are few and far between currently.

Our strategy to retain existing services is focused around optimising our performance and impact data, evidencing value for money and outcomes.

During 2024/25 we put together two substantial tenders for existing and new services that were successful Energies during 2025/26 will be focused on successful mobilisation of these services.

The board approved a three year strategy due to the current political and economic uncertainty, recognising the need for continual review of our priorities within the context of evolving external factors.

Beneficiaries of our services

Age UK Hillingdon, Harrow and Brent supports older people living within the London boroughs of Hillingdon, Harrow, Brent and surrounding areas.

We also support informal carers and families of older people as this provides indirect benefit to their older relatives and friends.

We support older people generally from the age of 50 upwards. As a charity we are committed to supporting all older people, but we will prioritise those who are in greatest need.

It should be noted that some of our services are only available to older people above a certain age or whom meet particular eligibility criteria in line with contractual or grant specifications agreed with the funding body.

Furthermore, some of our contracted services benefit adults under the age of 50, though where this is the case we work with partners who have the relevant skills and experience to support this wider cohort.

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Age UK Hillingdon, Harrow and Brent

Trustees’ annual report

For the year ended 31 March 2025

Financial review

Income

Total income was £2,930,453 (2024: £3,665,781) a decrease of £735,328 (20%) on previous year. The reduction in income was due to difficult external environment that has seen wide reaching service and funding cuts. In addition, there was also a decrease in donations and legacies income. Income breaks down as follows:

Income 2024-25
 2023-24
 Change Change
£ £ £ %
Information & Advice 596,254 745,154 (148,900) -20%
Social Contact 290,142 408,213 (118,071) -29%
Practical Home
Services		 1,679,500 1,969,285 (289,785) -15%
Voluntary income 97,787 270,213 (172,426) -64%
Trading income 266,769 272,916 (6,147) -2%
Total 2,930,453 3,665,781 (735,328) -20%

Expenditure

Total expenditure was £3,009,163 (2024: £3,510,600), a decrease of £501,437 (14%). Expenditure breaks down as follows:

Expenditure 2024-25 2023-24 Change Change
£ £ £ %
Information & Advice 644,901 763,786 (118,885) -16%
Social Contact 325,917 440,244 (114,327) -26%
Practical Home
Services		 1,783,496 2,044,799 (261,303) -13%
Raising funds 254,850 261,771 (6,921) -3%
Total 3,009,163 3,510,600 (501,437) -14%

Total reserves have decreased from £1,527,988 to £1,456,632. Reserves are analysed as follows:

Reserves 2024-25 2023-24 Change Change
£ £ £ %
Restricted reserves 20,415 14,515 5,900 41%
Designated reserves 202,372 274,487 (72,116) -26%
General reserves 1,233,845 1,238,987 (5,142) 0%
Total reserves 1,456,632 1,527,988 (71,356) -5%

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Age UK Hillingdon, Harrow and Brent

Trustees’ annual report

For the year ended 31 March 2025

Net surplus for the year

The Charity reported a deficit of £71,356 for the year ended 31 March 2025 (2024: surplus £167,692).

Results 2024-25 2023-24 Change Change
£ £ £ %
Reserves brought
forward		 1,527,988 1,360,296
Result for the year (71,356) 167,692
Reserves carried
forward		 1,456,632 1,527,988 (71,356) -5%

Investment Policy

Funds may be invested at the Trustees’ discretion. The trustees take a cautious approach to investments and hold a higher interest account with CAF Bank, which is classified as cash on the balance sheet and has instant access. This investment is low risk, but does not provide adequate protection against inflation.

During 2024/25, the Board of Trustees resolved and invested £121,310 of reserves into a managed fund portfolio. The Finance Sub-committee is tasked with monitoring the performance of this fund.

Principal risks and uncertainties

The Trustees maintain a register of key risks and supporting mitigation plans that are regularly reviewed at Board meetings. Policies, systems and procedures are established to mitigate those risks identified in the risk register and implement procedures to minimise and manage any potential impact on the charity should those risks materialise.

Risk management priorities for 2024/25 were focused on the re-procurement of Hillingdon services, securing extensions to other contracted services and managing rising costs within finite contractual envelopes. Cost-of-living pressures and significant numbers of older people impacted by fuel poverty alongside growing health inequalities are leading to increased demands on all our services. With the economic climate, we are seeing pressures building on local authority and NHS budgets, fundraising income and our retail operations. Having secured the Hillingdon contract along with a new contract to deliver Dementia services in Buckinghamshire, our focus for 25/26 is bedding in new partnerships along with successful mobilisation of these services.

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Age UK Hillingdon, Harrow and Brent

Trustees’ annual report

For the year ended 31 March 2025

Reserves policy and going concern

For the purposes of determining the level of reserves calculations have been done to reflect:

The following elements have been evaluated to calculate the minimum reserves calculation for Age UK Hillingdon Harrow and Brent:

  1. Statutory redundancy costs for employees in services where grants or contracts will be up for renewal in 2024-2025.

  2. Remaining terms of leases until first opportunity to break, less their estimated resale market value. A cautious approach has been taken this year given the current situation with the retail property market.

  3. Pension liability for defined benefit schemes becoming due in the event of closure of Age UK Hillingdon, Harrow and Brent.

  4. A fund to cover potential loss of income from charity shop trading, fundraising events and donations.

  5. A fund to cover potential loss of income from Help at Home clients, to cover essential staff costs at risk if demand declines.

  6. Designated legacy and grant funds.

This calculation results in a total target reserves position of £944,697. Total free reserves as at 31 March 2025 are £1,199,659. Trustees feel the required reserves calculation is reasonable, and that actual reserves are sufficient to ensure the organisation can meet planned service delivery obligations in 2025/26 and all liabilities in the event key funded services need to be wound down.

Trustees acknowledge that the sum required needs to be reviewed on an annual basis to recalculate the liabilities.

The Trustees believe that Age UK Hillingdon, Harrow and Brent is well placed to manage its financing and other operational risks satisfactorily and have a reasonable expectation that Age UK HHB will have adequate resources to continue in operation for the foreseeable future and meet its liabilities as they fall due. They therefore consider it appropriate to adopt the going concern basis of accounting in preparing the financial statements.

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Age UK Hillingdon, Harrow and Brent

Trustees’ annual report

For the year ended 31 March 2025

Fundraising

Age UK HHB is committed to responsible fundraising and is a member of, and registered with, the Fundraising Regulator and adheres to its policies. We continue to engage with local community and companies as well as seeking funds from, and partnerships with national organisations to promote and support the various activities of the charity.

Age UK HHB have committed to good fundraising practice and have committed to follow the code of fundraising practice. No complaints were received during the year in relation to fundraising practice.

Key activities included our Big Knit campaign, support for Age UK raffles and drives for stock for our retail shops. We continued to nurture and develop corporate partnerships in the boroughs. We received in kind support from staff volunteering their time and energy from a number of local companies.

Plans for the future

Our focus for the year ahead will be mobilising and embedding new services to enable us to meet the growing demand for our services. We continue to see very high numbers of older people who are experiencing isolation and are in greater need of our support. This has been compounded by cost of living and fuel poverty which are impacting those older residents who are in greatest need. As such, we are experiencing high demand and capacity pressures. We are focussing on securing sufficient resource to meet demand and will continue to explore any new funding opportunities.

Age UK and the wider network have agreed a shared strategy and a new network agreement that we signed in 2025. Our new strategy aligns with the shared network strategy and going forward we expect to further strengthen our collaboration with Age UK and local Age UK partners.

Pressure on Local Authority and NHS budgets place risks on current services and future opportunities and a number of our current statutory funded services are at risk and due for retender/renegotiation.

Most of our income streams are unlikely to rise in line with the inflationary pressures on our costs. As such we are putting in place plans to further reduce overheads and back-office costs to ensure we minimise any impact on service delivery. Alongside these mitigating actions, we will continue to build out, looking for further opportunities to grow and diversify our income streams, in partnership wherever possible.

Structure, governance and management

Age UK Hillingdon, Harrow and Brent is a Charitable Company limited by guarantee, not having share capital. The company was incorporated on 8 December 1995 and registered as a charity on 4 January 1996.

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Age UK Hillingdon, Harrow and Brent

Trustees’ annual report

For the year ended 31 March 2025

The company was established under a memorandum of association which established the objects and powers of the charitable company and is governed under its articles of association. The articles of association were updated in 2018 following the merger of Age UK Hillingdon with Age UK Brent and Age UK Harrow.

All trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 7 to the accounts.

Trustees have agreed to contribute £1 in the event of the charity winding up.

The Board of Trustees

The Board of Trustees comprises

Honorary Officers serve for a period of 3 years from the date of their election and are eligible for re-election.

The Board of Trustees normally meet 6 times a year in person with 5 shorter online meetings and is responsible for managing the affairs of Age UK Hillingdon, Harrow and Brent. Whilst decisions on policy and strategy are made by the Board, day to day management and decision making are delegated to the Chief Executive who works closely with members of the Senior Management Team.

Appointment of trustees

Whilst trustees are elected at the Annual General Meeting, they are subject to the Organisation's policy and procedures of recruitment, induction and training.

Trustees are recruited from a wide variety of sources including open advertisement and personal recommendation. There is considerable endeavour to ensure that there is a balance of skills, gender and cultural background represented and that Trustees are representative of older people in Hillingdon, Harrow and Brent generally.

Potential trustees are invited to visit the administrative office for an informal discussion with the Chief Executive (and/or Chair) and are offered the opportunity to attend a Board Meeting as an observer. The Board is able to co-opt members between Annual Meetings.

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Age UK Hillingdon, Harrow and Brent

Trustees’ annual report

For the year ended 31 March 2025

Trustee induction and training

All trustees attend an Age UK HHB induction day alongside new staff and volunteers to support basic orientation within the charity. Trustees are provided with a comprehensive Trustee Induction programme.

All new trustees are encouraged to take charge of their own training programme tailored to their own needs and having particular regard to the responsibilities of charity trustees.

Related parties and relationships with other organisations

Age UK Hillingdon, Harrow and Brent is an independent charity, responsible for its own policy, direction and funding. We are a signed up member of the Age UK Network through the ‘Age UK Network Agreement’. This agreement is signed by all members of the Age UK Federation who are signed up to a shared strategy and committed to working together to improve the lives of older people across the nations. We have agreed to the obligations of the Network Agreement and will comply with the Charity Commission accredited standards of service delivery known as the Age UK Organisational Quality Standards.

Age UK Hillingdon, Harrow and Brent contributes to the Network in a number of ways, including participating in regional meetings and networks, raising policy issues that may benefit from work at national level and sharing best practice.

During 2024/25, Age UK Hillingdon, Harrow and Brent continued to work with 4 other Hillingdon based charities to manage Third Sector Together NWL, a Charitable Incorporated Organisation (CIO). The aim of this CIO is to secure and deliver contracts for Wellbeing Services that will be delivered by Third Sector Together NWL member organisations. Age UK Hillingdon, Harrow and Brent is represented on the Board of Trustees of 3ST CIO by a Trustee nominated by the Age UK Hillingdon, Harrow and Brent Board of Trustees.

Age UK Hillingdon, Harrow and Brent are an associate member of Harrow Together (HT) , a Charity based in Harrow whose aim is to secure and deliver contracts for the third sector in the borough. In October 2019, Age UK HHB CEO was appointed to the board of Trustees. Age UK HHB is a delivery partner for the Harrow Social Prescribing partnership and a delivery partner for SWISH (information and advice). Age UK HHB CEO is a representative for HT on the local Integrated Care Partnership Executive.

Age UK HHB led is lead partner along with Age UK Bucks for delivery of hospital discharge services in Buckinghamshire.

Age UK HHB is lead partner along with Harrow Carers for delivery of hospital discharge services across Harrow and Brent.

Age UK HHB CEO is one of the 10 members on the leadership team for 3ST a collaboration of third sector organisations formed to engage with the NHS North West London Integrated Care System.

19

Age UK Hillingdon, Harrow and Brent

Trustees’ annual report

For the year ended 31 March 2025

During 2023 H4All reconstituted to become 3ST and one Trustee of Age UK HHB is a Trustee on the board. H4All is no longer a legal entity, but describes the voluntary sector partnership based in Hillingdon.

Remuneration policy for key management personnel

When advertising for key management posts, pay and remuneration levels are benchmarked against existing staff and with relation to comparable roles advertised across the Age UK London network. Any changes to pay and remuneration for existing key management personnel are consistent with those offered to other staff in Age UK Hillingdon, Harrow and Brent. All pay decisions for key management are considered and signed off by the Board of Trustees.

During 2022/23 we undertook an independent pay review benchmarking all staff salaries externally and internally. We addressed anomalies, introduced a new salary scale structure.

Relationships with stakeholders

The Directors delegate responsibility for managing stakeholder relations to the CEO who provides regular update reports to the board.

Key stakeholders include:

Local Authorities of Hillingdon, Harrow and Brent

Age UK HHB is represented on key strategic groups in all three boroughs. We are recognised as the leading local charity supporting older people in all three boroughs and have supporters both within the members and the executive teams of each local authority.

NHS

We are engaged in the integration and transformation of NHS services across the three boroughs and have positioned ourselves to effectively influence emerging new NHS commissioning structures. We have services that work alongside GP practises as well as our hospital-based services. We are a member of the Integrated Care Partnerships in Harrow, Hillingdon and Brent. We have played a key role in mobilising the third sector to secure representation on the Integrated Care System covering North West London.

Supporters

During 2024/25 we developed a marketing strategy to improve supporter engagement across all communication channels. This strategy has been implemented through the course of 2024/25.

Service users

Receive regular feedback opportunities and consultation exercises. These included workshops and groups to contribute to developing our 3-year strategy. We also run consultation exercises when considering new service developments for Age UK HHB or on behalf of our statutory partners.

20

Age UK Hillingdon, Harrow and Brent

Trustees’ annual report

For the year ended 31 March 2025

Statement of responsibilities of the trustees

The trustees (who are also directors of Age UK Hillingdon, Harrow & Brent for the purposes of company law) are responsible for preparing the trustees’ annual report including the strategic report and the 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

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.

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The total number of such guarantees at 31 March 2025 was 10 (2024: 9). The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

21

Age UK Hillingdon, Harrow and Brent

Trustees’ annual report

For the year ended 31 March 2025

Auditor

Sayer Vincent LLP was re-appointed as the charitable company's auditor during the year and has expressed its willingness to continue in that capacity.

The trustees’ annual report has been prepared in accordance with the special provisions applicable to companies subject to the small companies' regime.

The trustees’ annual report has been approved by the trustees on 26 November 2025 and signed on their behalf by

Neil Franklin Chair of the Board of Trustees

22

Independent auditor’s report

To the members of

Age UK Hillingdon, Harrow and Brent

Opinion

We have audited the financial statements of Age UK Hillingdon, Harrow & Brent (the ‘charitable company’) for the year ended 31 March 2025 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 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:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities 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 Age UK Hillingdon, Harrow & Brent’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.

23

Independent auditor’s report

Age UK Hillingdon, Harrow and Brent

To the members of

Other Information

The other information comprises the information included in the trustees’ annual report other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, 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 course of 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 this gives rise to 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

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 trustees’ annual report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

24

Independent auditor’s report

To the members of

Age UK Hillingdon, Harrow and Brent

Responsibilities of trustees

As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual report, 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 charitable 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 are set out below.

Capability of the audit in detecting irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

25

Independent auditor’s report

To the members of

Age UK Hillingdon, Harrow and Brent

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

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.

Joanna Pittman (Senior statutory auditor)

Date: 16 December 2025

for and on behalf of Sayer Vincent LLP, Statutory Auditor, 110 Golden Lane, LONDON, EC1Y 0TG

26

Age UK Hillingdon, Harrow and Brent

Statement of financial activities (incorporating an income and expenditure account)

For the year ended 31 March 2025

Note
Income from:
2
3
3
3
4
5a
5a
5a
5a
6
Reconciliation of funds:
Practical Home Support
Advice & Information
Social Contact
Raising funds
Total expenditure
Charitable activities
Practical Home support
Advice & Information
Social contact
Total income
Expenditure on:
Other trading activities
Net gains / (losses) on investments
Net income / (expenditure) for the year
Net income / (expenditure) before net gains /
(losses) on investments
Net movement in funds
Total funds brought forward
Total funds carried forward
Donations and legacies
Charitable activities		 Unrestricted
£
91,537
523,651
262,203
1,675,006
266,770		 Restricted
£
6,250
72,602
27,938
4,495
-		 2025
Total
£
97,787
596,253
290,141
1,679,501
266,770		 Unrestricted
£
265,460
695,254
357,913
1,933,140
272,916		 Restricted
£
4,753
49,900
50,300
36,145
-		 2024
Total
£
270,213
745,154
408,213
1,969,285
272,916
2,819,167 111,285 2,930,452 3,524,683 141,098 3,665,781
254,849
572,298
297,631
1,779,002		 -
72,602
28,287
4,495		 254,849
644,900
325,918
1,783,497		 261,771
713,885
380,813
2,009,737		 -
49,901
59,431
35,062		 261,771
763,786
440,244
2,044,799
2,903,780 105,384 3,009,164 3,366,206 144,394 3,510,600
(84,613)
7,354		 5,901
-		 (78,712)
7,354		 158,477
12,511		 (3,296)
-		 155,181
12,511
(77,259) 5,901 (71,358) 170,988 (3,296) 167,692
(77,259)
1,513,474		 5,901
14,514		 (71,358)
1,527,988		 170,988
1,342,486		 (3,296)
17,810		 167,692
1,360,296
1,436,215 20,415 1,456,630 1,513,474 14,514 1,527,988

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 18a to the financial statements.

27

Age UK Hillingdon, Harrow and Brent

Balance sheet

Balance sheet
As at 31 March 2025 Company no. 03136052
Note
Fixed assets:
11
12
Current assets:
13
Liabilities:
14
17a
Total unrestricted funds
Restricted income funds
Unrestricted income funds:
Designated funds
General funds
The funds of the charity:
Creditors: amounts falling due within one year
Net current assets
Total net assets
Investments
Cash at bank and in hand
Tangible assets
Debtors
Total charity funds		 £
309,618
715,958		 2025
£
34,185
752,986		 £
227,953
1,022,878		 2024
£
36,486
624,322
787,171
669,459		 660,809
867,179
1,025,576
356,117		 1,250,831
383,651
202,372
1,233,843		 274,487
1,238,987
1,456,630 1,527,988
20,415
1,436,215		 14,514
1,513,474
1,456,630 1,527,988

Approved by the trustees on 26 November 2025 and signed on their behalf by

Neil Franklin Chair of the Board of Trustees

28

Age UK Hillingdon, Harrow and Brent

Statement of cash flows

For the year ended 31 March 2025

Note
£
£
Cash flows from operating activities
Net (expenditure)/income for the reporting period
(71,358)
(as per the statement of financial activities)
Depreciation charges
3,901
(Gains)/losses on investments
(7,354)
(Profit)/loss on the disposal of fixed assets
-
(Increase)/decrease in debtors
(81,665)
Increase/(decrease) in creditors
(27,534)
Net cash (used in)/ provided by operating activities
(184,010)
(121,310)
Purchase of fixed assets
(1,600)
(122,910)
(306,920)
1,022,878
-
715,958
Cash and cash equivalents at the end of the year
Change in cash and cash equivalents in the year
Change in cash and cash equivalents due to exchange rate
movements
Cash and cash equivalents at the beginning of the year
Net cash (used in) /provided by investing activities
Cash flows from investing activities:
Purchase of investments
2025		 Note
£
£
Cash flows from operating activities
Net (expenditure)/income for the reporting period
(71,358)
(as per the statement of financial activities)
Depreciation charges
3,901
(Gains)/losses on investments
(7,354)
(Profit)/loss on the disposal of fixed assets
-
(Increase)/decrease in debtors
(81,665)
Increase/(decrease) in creditors
(27,534)
Net cash (used in)/ provided by operating activities
(184,010)
(121,310)
Purchase of fixed assets
(1,600)
(122,910)
(306,920)
1,022,878
-
715,958
Cash and cash equivalents at the end of the year
Change in cash and cash equivalents in the year
Change in cash and cash equivalents due to exchange rate
movements
Cash and cash equivalents at the beginning of the year
Net cash (used in) /provided by investing activities
Cash flows from investing activities:
Purchase of investments
2025		 Note
£
£
Cash flows from operating activities
Net (expenditure)/income for the reporting period
(71,358)
(as per the statement of financial activities)
Depreciation charges
3,901
(Gains)/losses on investments
(7,354)
(Profit)/loss on the disposal of fixed assets
-
(Increase)/decrease in debtors
(81,665)
Increase/(decrease) in creditors
(27,534)
Net cash (used in)/ provided by operating activities
(184,010)
(121,310)
Purchase of fixed assets
(1,600)
(122,910)
(306,920)
1,022,878
-
715,958
Cash and cash equivalents at the end of the year
Change in cash and cash equivalents in the year
Change in cash and cash equivalents due to exchange rate
movements
Cash and cash equivalents at the beginning of the year
Net cash (used in) /provided by investing activities
Cash flows from investing activities:
Purchase of investments
2025		 £
£
167,692
3,734
(12,511)
-
485,818
(390,588)
254,145
(585,000)
-
(585,000)
(330,855)
1,353,733
-
1,022,878
2024		 £
£
167,692
3,734
(12,511)
-
485,818
(390,588)
254,145
(585,000)
-
(585,000)
(330,855)
1,353,733
-
1,022,878
2024
(184,010)
(122,910)		 254,145
(585,000)
(306,920)
1,022,878
-		 (330,855)
1,353,733
-
715,958 1,022,878

29

Age UK Hillingdon, Harrow and Brent

Notes to the financial statements

For the year ended 31 March 2025

1 Accounting policies

a) Statutory information

Age UK Hillingdon, Harrow and Brent is a charitable company limited by guarantee and is incorporated in England and Wales. The charity's working name is Age UK HHB.

The registered office address is Unit 3 Chapel Court, 126 Church Road, Hayes, UB3 2LW.

b) Basis of preparation

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 (FRS 102) - (Charities SORP FRS 102), The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

In applying the financial reporting framework, the trustees have made a number of subjective judgements, for example in respect of significant accounting estimates. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The nature of the estimation means the actual outcomes could differ from those estimates. Any significant estimates and judgements affecting these financial statements are detailed within the relevant accounting policy below.

c) Public benefit entity

The charity meets the definition of a public benefit entity under FRS 102.

d) Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

As at the date of writing this report, the principal identified financial risks relate to the sustainability of certain significant funding streams, following changes to local government and NHSB procurement processes. The potential increase in costs due to high inflation continues to impact the charity's services. In the light of these considerations, the trustees have reviewed financial projections to November 2026 and are confident that the charity can manage these risks and can continue to trade as a going concern.

The charity has taken account of the risks that may affect its service delivery and its financial outlook and has made provision through its reserves calculation to ensure that these risks can be managed.

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

e) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

For legacies, 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(s) 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, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

f) Interest receivable

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 or payable by the bank.

30

Age UK Hillingdon, Harrow and Brent

Notes to the financial statements

For the year ended 31 March 2025

g) Fund accounting

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular purposes.

h) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

Resources expended are allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned on the following basis which is an estimate, based on staff time, of the amount attributable to each activity.

Advice and Information 30%
Social Contact 19%
Practical Home Support 45%
Other Trading activity (Charity shops & Fundraising) 6%

Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the charity’s activities.

j) Operating leases

Rental charges are charged on a straight line basis over the term of the lease.

k) Tangible fixed assets

Items of equipment are capitalised where the purchase price exceeds £1,000 and the asset is expected to be productive for more than 12 months. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

Motor Vehicles 4 years
Fixtures and fittings 4 years
Computer equipment 4 years
Leasehold improvements 25 years or the life of the lease

l) Listed investments

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. Any change in fair value will be recognised in the statement of financial activities. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading “Net gains/(losses) on investments” in the statement of financial activities. The charity does not acquire put options, derivatives or other complex financial instruments.

31

Age UK Hillingdon, Harrow and Brent

Notes to the financial statements

For the year ended 31 March 2025

1 Accounting policies (continued)

m) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

n) 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.

o) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

p) Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

q) Pensions: Defined benefit plan

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.

Further information about the scheme, with details of the actuarial valuation and the potential liability for Age UK Hillingdon Harrow and Brent is provided in note 20 to these accounts.

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

Income from donations and legacies
Donations
Legacies
Age UK Partnership
Age UK London (Lottery)
Age UK - Big Knit Campaign
Gift Aid
Other		 Unrestricted
£
10,863
36,079
7,500
-
287
1,123
35,685		 £
6,250
-
-
-
-
-
-
Restricted		 2025
Total
£
17,113
36,079
7,500
-
287
1,123
35,685		 Unrestricted
£
14,297
207,960
10,000
3,616
-
968
28,619		 Restricted
£
-
4,753
-
-
-
-
-		 2024
Total
£
14,297
212,713
10,000
3,616
-
968
28,619
91,537 6,250 97,787 265,460 4,753 270,213

At 31 March 2025 the charity was one of beneficiaries of a legacy comprising a property.

The value of the legacy to be realised in late 2025 (between £80,000 and £100,000), and its use is unrestricted for the benefit of Hillingdon, Harrow and Brent residents.

32

Age UK Hillingdon, Harrow and Brent

Notes to the financial statements

For the year ended 31 March 2025

Income from charitable activities
Information & Advice
Third Sector Together NWL- Safely Homes Project
Harrow Together
London Borough of Brent
London Borough of Hillingdon
Age UK Warm Homes Funding
Royal Brompton and Harefield Hospital
Age UK- Emanuel Hospital Foundation
Age UK - Cost of Living
Age UK - Home Sweet Home
Age UK - support grant
Sub-total for Advice & Information
Social Contact
City Bridge Foundation
Third Sector Together NWL- Safely Homes Project
Embassy of Ireland
London Borough of Hillingdon
Room Hire
Clubs income
Home Share Fees
OpenAge- Brent Digital
Other
Sub-total for Social Contact
Practical Home Services
Charges
Harrow Community Action
Third Sector Together NWL
NHS NWL ICB
Buckinghamshire Council
London Borough of Hillingdon
London Borough of Ealing
Garfield Weston
London Borough of Brent
London Borough of Harrow
Age UK
Donation
Other
Sub-total for Practical Home Services
Total income from charitable activities
Harrow Collaborative Network
The Charity of Sir Richard Whittington (The Mercers)		 Unrestricted
£
59,990
50,189
37,594
-
347,915
17,963
-
-
-
-
10,000		 £
-
-
-
-
-
-
-
35,894
9,375
-
27,333
-
Restricted		 2025
Total
£
59,990
50,189
37,594
-
347,915
17,963
-
35,894
9,375
-
27,333
10,000		 Unrestricted
£
36,348
20,715
36,192
217,623
300,124
13,400
30,852
-
-
40,000
-
-		 £
-
-
-
-
-
-
-
37,401
12,500
-
-
-
Restricted		 2024
Total
£
36,348
20,715
36,192
217,623
300,124
13,400
30,852
37,401
12,500
40,000
-
-
523,651 72,602 596,253 695,254 49,901 745,154
-
27,438
-
199,876
14,985
2,230
657
12,844
4,173		 27,938
-
-
-
-
-
-
-		 27,938
27,438
-
199,876
14,985
2,230
657
12,844
4,173		 -
17,951
-
299,876
14,208
14,085
804
8,450
2,540		 36,125
14,175
-
-
-
-
-
-		 36,125
17,951
14,175
299,876
14,208
14,085
804
8,450
2,540
262,203 27,938 290,141 357,913 50,300 408,213
555,841
-
221,230
556,570
279,657
34,208
-
-
-
27,500
-
-
-		 -
-
-
-
-
-
-
4,495
-
-
-
-
-		 555,841
-
221,230
556,570
279,657
34,208
-
4,495
-
27,500
-
-
-		 554,576
36,968
318,286
608,853
279,657
34,300
15,000
-
48,000
27,500
10,000
-
-		 -
-
-
-
-
-
-
17,982
-
-
-
18,163
-		 554,576
36,968
318,286
608,853
279,657
34,300
15,000
17,982
48,000
27,500
10,000
18,163
-
1,675,006 4,495 1,679,501 1,933,140 36,145 1,969,285
2,460,860 105,035 2,565,895 2,986,307 136,345 3,122,653

Total government funding from Grants and Contracts in 2025 was £1,445,726 (2024: £1,830,933).

4 Income from other trading activities

Income from other trading activities
Charity Shops
Donations
Gift Aid		 Unrestricted
£
254,184
2,392
10,194		 £
-
-
-
Restricted		 2025
Total
£
254,184
2,392
10,194		 Unrestricted
£
260,462
1,718
10,735		 £
-
-
-
Restricted		 2024
Total
£
260,462
1,718
10,735
266,770 - 266,770 272,916 - 272,916

33

Age UK Hillingdon, Harrow and Brent

Notes to the financial statements

For the year ended 31 March 2025

5a Analysis of expenditure (current year)

Charitable activities

Staff costs (Note 7)
Other staff costs
Premises
Direct costs of service delivery
Shared costs of service delivery
Operating costs
Marketing
Shops purchases
Strategic development
Audit & Accountancy
AGM & Trustee meetings
Irrecoverable VAT
Bank charges & penalties
Legal costs
Other governance costs
Depreciation
Support costs
Governance costs
Total expenditure 2025
Total expenditure 2024		 Raising
funds
£
74,014
820
92,241
8,328
5,520
35,903
-
2,221
-
-
-
-
2,561
-
-
-
Advice &
Information
£
401,238
1,007
13,583
30,433
7,844
24,587
-
-
-
-
-
-
-
-
-
-
Social
Contact
£
169,655
3,421
26,748
3,030
6,244
11,370
-
-
-
-
-
-
17
-
-
167
Practical Home
Services
£
1,066,919
8,090
15,852
409,158
12,595
20,478
-
-
-
-
-
-
1,092
-
-
-
Governance
costs
£
-
-
-
-
-
-
-
-
8,162
14,850
-
-
3,375
-
-
-
Support
costs
£
380,425
6,616
3,271
3,382
18,362
83,861
1,022
-
-
-
-
24,152
2,816
-
-
3,734
2025
Total
£
2,092,251
19,954
151,695
454,331
50,565
176,199
1,022
2,221
8,162
14,850
-
24,152
9,861
-
-
3,901
2024
Total
£
2,425,517
12,648
179,141
596,641
47,397
160,333
-
4,889
-
14,150
12
34,690
9,979
14,300
7,170
3,734
221,608
31,658
1,583		 478,692
158,292
7,916		 220,652
100,252
5,014		 1,534,184
237,439
11,874		 26,387
-
(26,387)		 527,641
(527,641)
-		 3,009,164
-
-		 3,510,600
-
-
254,849 644,900 325,918 1,783,497 - - 3,009,164 3,510,600
261,771 763,786 440,244 2,044,799 - -

34

Age UK Hillingdon, Harrow and Brent

Notes to the financial statements

For the year ended 31 March 2025

5b Analysis of expenditure (previous year)

Charitable activities

Staff costs (Note 7)
Other staff costs
Premises
Direct costs of service delivery
Shared costs of service delivery
Operating costs
Shops purchases
Strategic development
Audit & Accountancy
AGM & Trustee meetings
Irrecoverable VAT
Bank charges & penalties
Legal costs
Other governance costs
Depreciation
Support costs
Governance costs
Total expenditure 2024		 Raising
funds
£
76,603
-
94,174
5,661
5,395
36,539
4,889
-
-
-
-
2,321
-
-
-
Advice &
Information
£
413,241
505
16,731
128,857
5,883
17,605
-
-
-
-
-
18
-
-
-
Social
Contact
£
257,009
2,976
28,400
20,983
3,954
12,277
-
-
-
-
-
45
-
-
-
Practical Home
Services
£
1,272,375
3,826
23,141
438,617
6,588
24,362
-
-
-
-
-
4,470
-
-
-
Governance
costs
£
-
-
-
-
-
-
-
-
14,150
12
-
6
14,300
7,170
-
Support
costs
£
406,289
5,341
16,696
2,522
25,576
69,550
-
-
-
-
34,690
3,120
-
-
3,734
2024
Total
£
2,425,517
12,648
179,141
596,641
47,397
160,333
4,889
-
14,150
12
34,690
9,979
14,300
7,170
3,734
225,582
34,051
2,138		 582,840
170,255
10,691		 325,645
107,828
6,771		 1,773,379
255,383
16,037		 35,638
-
(35,638)		 567,517
(567,517)
-		 3,510,600
-
-
261,771 763,786 440,244 2,044,799 - - 3,510,600

35

Age UK Hillingdon, Harrow and Brent

Notes to the financial statements

For the year ended 31 March 2025

6 Net income / (expenditure) for the year

This is stated after charging / (crediting):

This is stated after charging / (crediting):
2025 2024
£ £
Depreciation 3,900 3,734
Operating lease rentals payable:
Property 87,500 91,643
Auditor's remuneration for audit work (excluding VAT): 13,600 12,950
Auditor's remuneration for tax return 1,250 1,200

7 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel

Staff costs were as follows:

Staff costs were as follows:
Salaries and wages
Other forms of employee benefits
Social security costs
Redundancy and termination costs
Defined contribution pension schemes		 2025
£
1,850,174
1,337
152,398
84,428
3,914		 2024
£
2,116,354
33,376
171,430
95,332
9,024
2,092,251 2,425,517

The following number of employees received employee benefits (excluding employer pension costs and employer's national insurance) during the year between:

£80,000 - £89,999
£70,000 - £79,999		 2025
No.
-
1		 2024
No.
-
1

The total employee benefits (including pension contributions and employer's national insurance) of the key management personnel were £213,543 (2024: £248,608).

The charity trustees were neither paid nor received any other benefits from employment with the charity in the year (2025: £nil). No charity trustee received payment for professional or other services supplied to the charity (2025: £nil).

8 Staff numbers

The average number of employees (head count based on number of staff employed) during the year was 92 (2024: 109).

Advice and information
Practical Home support
Administration and support
Social Contact
Charity shops and other services
Chief Officer		 2025
No.
1
9
13
6
57
6		 2024
No.
1
10
14
9
69
6
92 109

36

Age UK Hillingdon, Harrow and Brent

Notes to the financial statements

For the year ended 31 March 2025

9 Related party transactions

There are no related party transactions to disclose for 2025 (2024: none).

Mr Roger Calverley, Trustee, is also a Trustee for Third Sector Together NWL. Any work for Third Sector Together NWL is on an arm's length basis.

Income received from Third Sector Together NWL. covered the cost of staff seconded to the charity to support the broader Health & Wellbeing aims of Age UK Hillingdon, Harrow & Brent, along with the costs of services provided to Third Sector Together NWL. Services provided include the costs of finance and procurement support. The total income received from Third Sector Together NWL in 2025 was £603,840 (2024: £708,737).

There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.

10 Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

11 Tangible fixed assets

At the start of the year
Cost
At the end of the year
Net book value
At the end of the year
At the start of the year
Charge for the year
At the end of the year
Depreciation
At the start of the year
Additions in year		 Leasehold
Improvements
& Townfield
£
114,284
-

Fixtures and
fittings
£
-
1,600
Computer
equipment
£
68,432
-
Total
£
182,716
1,600
114,284 1,600 68,432 184,316
78,318
3,474		 167 67,912
260		 146,230
3,901
81,792 167 68,172 150,131
32,492 1,433 260 34,185
35,966 - 520 36,486

All of the above assets are used for charitable purposes.

12 Listed investments

Listed investments
Fair value at the end of the year
Fair value at the start of the year
Net gain / (loss) on change in fair value
Additions
Shares listed on the London Stock Exchange
Investments comprise:		 2025
£
624,322
121,310
7,354		 2024
£
26,811
585,000
12,511
752,986 624,322
2025
£
752,986		 2024
£
624,322
752,986 624,322

Age UK Hillingdon, Harrow and Brent has a dormant trading subsidiary, Age UK Hillingdon Services Ltd, company number 07472681.

37

Age UK Hillingdon, Harrow and Brent

Notes to the financial statements

For the year ended 31 March 2025

13 Debtors

Debtors
Prepayments
Accrued income
VAT recoverable
Pension Fund
Other creditors
Trade creditors
Accruals
Deferred income (note 15)
Taxation and social security
Trade debtors
Other debtors
Creditors: amounts falling due within one year		 2025
£
236,378
3,575
32,404
37,261
-		 2024
£
102,096
9,292
33,272
83,293
-
309,618 227,953
2025
£
137,601
70,248
1,317
72,432
54,612
19,907		 2024
£
92,659
38,325
1,338
152,571
80,358
18,400
356,117 383,651

15 Deferred income

Deferred income comprises income received in advance of delivery.

Deferred income comprises income received in advance of delivery.
Balance at the beginning of the year
Amount released to income in the year
Net value of income deferred in the year
Balance at the end of the year		 2025
£
80,358
(80,358)
54,612		 2024
£
313,421
(313,421)
80,358
54,612 80,358

16a Analysis of net assets between funds (current year)

Investments
Net current assets
Tangible fixed assets
Net assets at 31 March 2025		 General
unrestricted
£
34,185
752,986
446,672
Designated
£
-
-
202,372		 Restricted
£
-
-
20,415		 Total funds
£
34,185
752,986
669,459
1,233,843 202,372 20,415 1,456,630

16b Analysis of net assets between funds (prior year)

Net assets at 31 March 2024
Investments
Net current assets
Tangible fixed assets		 General
unrestricted
£
36,486
624,322
578,178
Designated
£
-
-
274,487		 Restricted
£
-
-
14,514		 Total funds
£
36,486
624,322
867,179
1,238,987 274,487 14,514 1,527,988

38

Age UK Hillingdon, Harrow and Brent

Notes to the financial statements

For the year ended 31 March 2025

17a Movements in funds (current year)

Donations and legacies
Total restricted funds
Total designated funds
General funds
Charitable activities
Unrestricted funds:
Designated funds:
Total funds
Total unrestricted funds
Development Fund
Social contact
Social contact
Practical Home support
Restricted funds:
Advice & Information		 At 1 April 2024
£
4,752
-
8,679
1,083		 Income &
gains
£
6,250
72,602
27,938
4,495
Expenditure &
losses
£

(72,602)
(28,287)
(4,495)
Transfers
£
-
-
-
-		 At 31 March
2025
£
11,002
-
8,330
1,083
14,514 111,285 (105,384) - 20,415
169,191
105,297		 -
-		 (24,981)
(47,135)		 -
-		 144,210
58,162
274,488 - (72,116) - 202,372
1,238,986 2,826,521 (2,831,664) - 1,233,843
1,513,474 2,826,521 (2,903,780) - 1,436,215
1,527,988 2,937,806 (3,009,164) - 1,456,630

The narrative to explain the purpose of each fund is given at the foot of the note below.

17b Movements in funds (prior year)

Donations and legacies
Total restricted funds
Total designated funds
General funds
Total unrestricted funds
Total funds
Social contact
Designated funds:
Unrestricted funds:
Charitable activities
Social contact
Practical Home support
Development Fund
Restricted funds:
Advice & Information		 At 1 April 2023
£
-
-
17,810
-		 Income &
gains
£
4,753
49,901
50,300
36,145
Expenditure &
losses
£

-
(49,901)
(59,431)
(35,062)
Transfers
£
-
-
-
-		 At 31 March
2024
£
4,753
-
8,679
1,083
17,810 141,098 (144,394) - 14,514
201,861
153,408		 -
-		 (32,670)
(48,111)		 -
-		 169,191
105,297
355,269 - (80,781) - 274,488
987,217 3,537,194 (3,285,425) - 1,238,986
1,342,486 3,537,194 (3,366,206) - 1,513,474
1,360,296 3,678,292 (3,510,600) - 1,527,988

39

Age UK Hillingdon, Harrow and Brent

Notes to the financial statements

For the year ended 31 March 2025

Purposes of restricted funds

Donations and legacies

Legacy income received for the use of or to buy or maintain transport or to benefit any

afternoon clubs for entertainment and outings for all members. Restricted donation received to fund premises improvement.

Advice and Information

The Mercers' Company: To provide housing advice to vulnerable older renters in Brent and Harrow.

Age UK- Emanuel Hospital Foundation- to support and provide the delivery of Information and Advice Services to older residents in Hillingdon Harrow and Brent

Social Contact:

City Bridge Foundation: to support work with Londoners living with dementia .

Mary Province Fund: to assist older people living in Harrow who are experiencing financial hardship.

Practical Home support:

Garfield Weston Foundation- Volunteering Development Project (Harrow).

Purposes of designated funds

Social Contact:

A significant legacy was received from a Harrow resident, and was designated for the five year development of a befriending programme in Harrow.

Development Fund:

The balance of the above legacy to be used to support the capacity and capability of the Charity to support its expansion over the next year.

18 Operating lease commitments payable as a lessee

The charity's total future minimum lease payments under non-cancellable operating leases is as follows for each of the following periods

Less than one year
One to five years		 2025
2024
£
£
92,667
86,375
374,500
68,833
Property		 2025
2024
£
£
92,667
86,375
374,500
68,833
Property
467,167 155,208

The charity acts as agents for clients to hold money on their behalf to spend on shopping and the use of the services the charity offers to the public. All expenditure carried out is requested by the client or authorised persons.

The balance held as at the 31 March 2025 in respect of clients' funds totals £1,056 owed to charity (2024: £878 owed to clients).

During the year £21,162 (2024: £27,074) was received by the charity from clients and money paid out was £23,095 (2024: £26,191).

40

Age UK Hillingdon, Harrow and Brent

Notes to the financial statements

For the year ended 31 March 2025

20 Pensions

SCHEME: TPT Retirement Solutions – The Growth Plan

The company participates in the scheme, a multi-employer scheme which provides benefits to some 638 non-associated participating employers. The scheme is a defined benefit scheme in the UK. It is not possible for the company 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 company 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.

A full actuarial valuation for the scheme was carried out at 30 September 2020. This valuation showed assets of £800.3m, liabilities of £831.9m and a deficit of £31.6m. 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 2019 to 30 September 2025: £11,243,000 per annum (payable monthly and increasing by 3% each on 1st April)

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 company has agreed to a deficit funding arrangement the company 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.

2025 2024 2023
£ £ £
Present value of provision 75 31 65

RECONCILIATION OF OPENING AND CLOSING PROVISIONS

RECONCILIATION OF OPENING AND CLOSING PROVISIONS
Period Ending Period Ending
2025 2024
£ £
Provision at start of period 31 65
Unwinding of the discount factor (interest expense) 1 3
Deficit contribution paid (31) (37)
Remeasurements - impact of any change in assumptions - -
Remeasurements - amendments to the contribution schedule 74 -
Provision at end of period 75 31

41

Age UK Hillingdon, Harrow and Brent

Notes to the financial statements

For the year ended 31 March 2025

20 Pensions (continued)

INCOME AND EXPENDITURE IMPACT

INCOME AND EXPENDITURE IMPACT
Period Ending Period Ending
2025 2024
£ £
Interest expense 1 3
Remeasurements – impact of any change in assumptions - -
Remeasurements – amendments to the contribution schedule 74 -
ASSUMPTIONS
2025 2024 2023
% per annum % per annum % 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.

DEFICIT CONTRIBUTIONS SCHEDULE

Year ending 2025 2024 2023
£ £ £
Year 1 27 31 37
Year 2 27 - 31
Year 3 27 - -
Year 4 - - -
Year 5 - - -
Year 6 - - -

The company recognises a liability measured as the present value of the contributions payable that arise from the deficit recovery agreement and the resulting expense in the income and expenditure account i.e. the unwinding of the discount rate as a finance cost in the period in which it arises.

21 Legal status of the charity

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.

42