REGISTERED COMPANY NUMBER: 03281047 (England and Wales) REGISTERED CHARITY NUMBER: 1059945 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR AGE UK PORTSMOUTH AGE UK PORTSMOUTH CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Page Report of the Trustees 1 to 14 Report of the Independent Auditors 15 to 18 Statement of Financial Activities 19 Balance Sheet 20 Cash Flow Statement 21 Notes to the Cash Flow Statement 22 Notes to the Financial Statements 23 to 33 AGE UK PORTSMOUTH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The trustees who are also directors of the charity for the purposes ofthe Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended practi￿ applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). Within this Annual Report we will provide an account of our finances. the changes we have experienced and how our support to those in need of our assistance developed over the period April 2023 to the end of March 2024. The Charity's financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's goveming document, the Charities Act 2011 and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities published on 16 July 2014. OBJECTIVIES AND ACTIVITIES Objectives and aims Changes The existing Age UK Brand Partner Agreement has been further extended until Spring 2025 whilst the Age UK Ne￿Ork continues to jointly develop an agreed negotiation postiion for the upcoming Ne￿Ork Agreement. This iterative discussion process has for the most part, enhanced the relationship with Age UK. Again, within this financial period, we are delighted that both parties continue to work for partnership enrichment both nationally and locally. Mission To help adults in Portsmouth and Southeast Hampshire enjoy a better quality of life, with a specific focus on all aspects of getting older. Age UK Portsmouth is the leading provider of age-related support services to adults across Portsmouth and Southeast Hampshire. Values Our values shape the work we do. both as a member of the Age UK Network and as a local independent charitable organisation. Our five values have the followng meanings.. Accessible: We assist adults and older people to live independentty and exercise choice. We draw strength from the vol￿S of adults and older people and ensure those voices are heard. Respectful: Innovative: We are dynamic and driven by results and constantly deliver for adults and older people. We are passionate about what we do and care about each individual. We are experts, authoritative and quality orientated. Compassionate: Trusted: Guiding Principles: These five principles underpin all the work that we do., Ageism is unacceptable - Age UK Portsmouth is against all fomis of age discrimination and challenges unfair treatment based on age. Page 1 AGE UK PORTSMOUTH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 All people have the right to make decisions about their lives - Age UK Portsmouth helps adults and older people to discover and exercise their rights. People less able to help themselves should be offered support - Age UK Portsmouth seeks to support adults and older people to live their lives with dignity. Diversity is valued in all we do- Age UK PortsmoLrth recognises the diversty of adults and older people and their different needs, choices, cultures and values. It is only through working together that Age UK Portsmouth can use its local. countywide, regional and national presence to the greatest effect. Achievements and Perfonnance The year was dominated by the continuing cost of living crisis wth inflation ranging from 7.80kn in April 2023 to 3.8 % in February 2024 This resulted in a high demand for the charity's services during the year The Infomiation & Advice (l & A) flagship service, provided free to all. resulted in claiming over £2m in benefits across the year, often making dramatic improvements to peoples, qualty of life. As part of the Building Resilience project, the team achieved those outcomes through successfully applying for an average of £3,800.00 per person per year in benefits and entitlements. Our Help Around the Home (HATH) service for domestic support continued to be busy with a total 23,717 hours of service provided by our Home Support Workers The Meals on Wheels service, introduced in 2022, v￿S expanded as new privately-funding clients were included. The team provided over 20,000 meals across the year. Safeguarding checks are included within the service delivery The Close Encounters project entered rts 5th year of operation. The National Lottery provided an uplift on funding during the year to acknowledge the higher operating costs due to inflation. This service supports the development of personal independence and socialisats'on to reduce loneliness and increase self-esteem and community belonging A new paid-for service. Micro-suction of ear wax, was introduced at the Bradbury Centre to complement our very successful Chiropody, foot care and hair salon services R&certification of Age UK Portsmouth meeting the Network Charity Quality Standard, independently assessed by leading certification body SGS, was again successfully achieved Staff structure was re-organised and streamlined, resulting in reduced overhead costs which means that more money is available to support charitable services Our valued volunteers continue to provide support to our dedicated staff and are incredibly important in our day-tfrday operations The Board of trustees approved new Articles of Association to include a maximum 9-year tenure period for trustees in line with the Charity Governance Code The Board of trustees and management team continued their efforts to reduce the financial deficit with progress made going into the new fiscal year starting 01 April 2024 se￿iCe and support demand during 2023-2024 continued as high as the previous COVID years, this time exacerbated by Winter Warmth and the 'Food or Fuel- cost of living crisis creating extreme rates of inflation. Staff continued to experience an increase in direct public contact wtlh the charity- Receiving help and support at the right time can and does save lives. Page 2 AGE UK PORTSMOUTH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Finance Tight fiscal management remains the organisation standard. Throughout the year, Age UK Portsmouth continued to manage improvement with further rationalisation of our financial processes. This year we outsourced the payrolls to achieve savings in costs and hours making the department efficient and this will be reviewed in the new financial year to ensure that this is benefiting the charity. We are seeing growth in the uptake of clients paying by Direct Debit which also reduces time in processing payments and banking in the department. We TrMII continue to seek savings in both cost and efficiency in the coming year. The Finance Team ensured the safe financial transition of the charity through the crisis that severely impacted the economy of the world, not just England or the UK. Their goal now is to ensure financially sustsinable services and operations where core costs are covered, and the charty maintains a surplus position. Help Around the Home Age UK Portsmouth's Help Around the Home (HATH) Servi￿ delivered 23.717 hours of support to the people of Portsmouth and SOLrtheast Hampshire throughout 2023-2024. HATH is a successful in-house service that can be purchased by the hour and recetves upwards of 50 referrals per month from numerous sources across the area. with around a third of those referrals coming from the voluntary, health and social care sectors. Having successfully won £10,000 to deliver support as part of The Wellbeing Collective though a HIVE programme called 'Wrap Around Portsmouth" the HATH team ensured 'at home, support for those being discharged from hospital. Early 2023-2024 the team received instruction as well as the funds from The HIVE to move forward., the service has proven successful. and further funding discussions ensue for 2025-2026. Client feedback about their experience of our Help Around the Home service.. Information & Advice A major piece of work undertaken by the I&A team was Age UK'S Building Resilience service. The following summary covers this project only, during the period January 2021 (during the COVID-19 pandemic) through until the end of April 2024. Headline figures 833 people supported through life-changing events such as loss of a partner, declining health etc. 230A (193) people received a home visit with the remainder as calls or other methods There was extra income identified for 649 people. The totsl value of this benefits income was £2,489,845.00 (unadjusted for annual benefit increases) with an average of £3.836.43 for each person who had financial need identified Page 3 AGE UK PORTSMOUTH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Who were the people that Age UK Portsmouth supported? Those that identified as Female 57.260k, Male 42.50%. Other 0.240A. Other may be that they did not wish to disclose this or identified themselves in anotherway Ages.. Were from 47 to 101 with an average (mean) age of 79 years old Ethnicity.. 96.760/0 of clients were White English I Welsh I Scottish l Northern Irish l British Another 0.480/0 described themselves as either Mihite Irish or"White Other l European. There were only small numbers of people (1.56% in total) who described themselves a5 coming from an Asian, Black, mixed or other ethnicities 1.20 % of people did not wish to disclose their ethnicity or this is unknown. New to the charity.. 553 {66.390/0) clients that the team supported were new to the charty (had not been helped by Age UK Portsmouth before) Of those supported, 29 clients identified themselves as a carer to their partner or a family member. What help issues did people present to the charty? Over half of the people came to the I&A team about money or benefits and this situation and need is notably high across all Age UK Ne￿Ork Partners. This financial need is followed by care needs. Mow, debt ￿ t*neffts 25.45% He?￿h & Wellbe OtF*r Housin8 aThJ hon 1.44% Be￿a¥ement or(leath 1.32% For each person supported there was an average (Mean) of 2.3 different enquiries per person. Page 4 AGE UK PORTSMOUTH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Social Activities 2023- 2024 saw the continued gradual return of public confidence in sharing spaces and forming groups to enjoy social activities. However, for those older, frail and elderly groups this transition has proven to be an even slower prO￿sS with depression and anxiety continuing to feature strongly in many lives. True and full recovery from Covid was slow and was rapidly followed by huge increases in utility and food costs to the point of decision making around bill paying becoming "heat or eat. issues. With inflation rates soaring, spending on activities was a luxury too far for many. However, Age UK Portsmouth's safe and warm Bradbury Centre continued to offer respite-. some social activities such as breakfasts, afternoon teas and IT Classes run regularly, with a return to activity deliberately paced to meet public demand. Page 5 AGE UK PORTSMOUTH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Volunteering Age UK Portsmouth simply could not deliver all our services without the wonderful contribution of our volunteers and their skills, knowledge, time, and commitment. The charty is incredibly grateful to those members of the public who continue to support our efforts by helping with and being on call to support a variety of activities. These range across office administration, waiting table in our Café, washing pots in the kitchen, and once trained, supporting benefrts applications as well as being support-friends to visitors within our Bradbury Centre. Thank you so much for being so generous with your time and knowledge-the charity and people of Portsmouth cherish you. Café The Café and Kitchen produced over 20,000 meals during 2023-2024 with our Drivers caring for and supporting the wellbeing of our clients with every delivery. Due to the development and pressures of establishing the Meals on Wheels service, the Café has suffered a somewhat 'back seat. position. however, the intention is to revisit best practice to improve opening time availability. Veterans Information Point Age UK Portsmouth's Veterans Information Point provides free infomiation and advice for Forces, veterans, their spouses and active setvice personnel in Southeast Hampshire- particularty to Royal Navy, Royal Marine veterans and ex-MerGhant Seamen. Funded by the Royal Navy & Royal Marines Charity. the service offers free, independent, and confidential infom)ation, advice and support. During this last year, the Veterans Information Point team have supported 377 Service Users across the Armed Forces and their familiesl spouses. The service helped to obtain over £500,000 in benefits and entitlements. A holistic approach is taken when assisting the Service Users who enjoy the service and those involved are encouraged to look at all aspects of their life. Once a veteran has accessed the Veterans Information Point project, they and their spouses or families are encouraged to participate in Age UK Portsmouth's social provision including specific support services, such as our Veterans Breakfasts. Page 6 AGE UK PORTSMOUTH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Close Encounters Age UK Portsmouth's Close Encounters service supports improved qualty of life for lonely and isolated adults and older people in Portsmouth, Gosport, and surrounding areas. Funded by the National Lottery's Community Fund. Age UK Portsmouth works in partnership Gosport Voluntary Action to reduce loneliness and social isolation. BIG LOTTERY FUND 05Ff) Portsmouth OLUNt ageuK NATIONAL LorrERYFUNDED TION With many other social projects across the cty having remained closed since Covid, Close Encounters being reinstated for another four years, continues to be met wth public and Public Sector delight. Experiencing ongoing demand throughout this year, Close Encounters is currently the only service in Portsmouth offering individual and group social and isolation support. Key activities during the 2023-2024 period included= Recruitment of volunteers - as per usual AUKP I Close Encounters colleagues attended peoples, homes to support people wth mobility or transport issues. Close Encounters has been proactive in tying to recruit new volunteers across a spectrum of community support needs. The"Cost of Living. Crisis has meantthat many vrfould-be volunteers have had to retum to work to make financial ends meet. Page 7 AGE UK PORTSMOUTH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Members of the team have attended Volunteer Fayres. Forums and conducted talks to encourage people to volunteer. We also contacted local businesses. Communrty Champions to encourage them to come on board too. The Close Encounters team collaborates across veteran support, dementia, and carer provision where appropriate, as well as receiving referrals from Adult Social SeNices. the QA Hosprtal and other Social Service operations and team5, ensuring strong assistsnce to those most in need. Digital Champions Age UK Portsmouth reported that the Programme had significant local success, reaching older people with mobility issues through awareness raising activities and supporting them through Digital Skills Sessions. The project delivery team worked hard to understand how to best reach older people living wth mobilty issues, and through their flexible and person-centred approach, they were able to understand how to adapt the Digilal Champion Programme model to reach their tsrget demographic group. Page 8 AGE UK PORTSMOUTH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Older People Reached through Awareness Raising Sessions Programme Expectation - 2400 Programme Achievement- 3088 Age UK Portsmouth exceeded the expectation, reaching 1290A of the number of older people planned. Over the course of the Programme, awareness raising activities carried out at Age UK Portsmouth were varied and developed to reach older people with mobility issues as the team leamed how to reach this audience effectively. The Digital Champion team networked within residential care homes, assisted living accommodation and community venues. This has allowed them to tailor their awareness raising approach to their tsrgeted high-risk group of older people living with mobilrty issues. By carrying out awareness raising in places where those with mobility issues are likely to be such as in the communal area of their assisted living accommodation as opposed to a busy shopping centre. the Digitsl Champions team were able to reach those in need. Of the total number of older people supported, 56% came directly from awareness raising events ofwhich 57 % had not previously been in contact with Age UK Portsmouth. Key successes were.. The Digital Outreach Worker being invited to talk to a large group of older people at a church. The purpose of the talk was to encourage engagement and awareness ofthe different benefits of being digitally included and as a result 10 people signed up to receive support through the programme 2. The team also held an in-house open day. which was suc￿Ssful for building local partnerships and referral pathways. The team received requests throughout the year 3. The face-to-face talks delivered by the Digital Outreach Workers were key to raising awareness of the Programme throughout the local area. This also built trust in Age UK Portsmouth, generating a sense of familiarity which did engage older people with the idea of becoming digitally included. Despite the huge success of this programme and encouraging the Funder to continue supporting this excellent programme, the Funder did take AUKP advice but chose to reinvest in different geographic areas for its next funding experience which sadly meant that Age UK Portsmouth could not reapply. Page 9 AGE UK PORTSMOUTH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Financial Review Age UK Portsmouth is an independent charity, separate and independent of Age UK. However, both parties have a Brand Partner relationship which remains under review. The outcome of the Ne￿ork'S deliberations about the future will have an influence on Age UK Portsmouth's potential fomi, and at present the trustees continue active participation in this iterative development. Every effort is being made to ensure whatever changes tske place, the many people who benefrt from our local services will continue to be able to do so irrespective of our fLrture organisational model. Age UK Portsmouth needs to attract donations and legacies to continue to undertake local projects which are so greatly needed within our community. The Charity strives to offer the highest standard of service to those in need of help and assistance. We are a lifeline to many of our service users. We help to support them in their homes; we offer them a friendly face, a helping hand, ompanionship others and for most an end to isolation. For many of our service users, the contact time Age UK Portsmouth staff and volunteers is the only time they socialise or possibly get OLrtdoors. and it is often the only contact and opportunity they have for mixing with other people in their local community. ReseThies policy The Board have identified that a minimum fourto six-month period of operating costs equating to not less than £175,000 would be a reasonable level of free reserves to be able to deal with events that were not anticipated and that would have a negative impact on the organisation's income streams. We therefore are operating within our reserves policy. ReseNes should be built up from unrestricted (eamed) income and ideally sf( befv￿en 44 months operating costs. Investment powers Under the Memorandum and Articles, the charity has the power to invest in any way the Trustees wish. In view of existing financial commitments, the charity is currentty holding all funds within current and savings Bank Accounts. Principal Funding Sources Age UK Portsmouth's funding sources have evolved over time and the organisation continues to develop a balance between funded programme provision and Se￿-generated income through the support services offered to those who need help in and around their homes. Following the receipt of a legacy, the board agreed to ringfence sufficient funds to invest in soknre to enable the charity to become more efficient. It will also ensure we can invest in the infrastructure of the building and in turn this will ensure that we can support those who attend the Bradbury centre and those we support in the community. Despite a difficult world-wide economic situation, the Executive continued to bid for and attract important income from the following Funders to whom Age UK Portsmouth are extremely grateful. Without the generosity of these Funders, Age UK Portsmouth would not have been able to deliver so many public benefrts. A huge vote of thanks goes to Funding organisations such as- Age UK the National Lottery Royal Navy Royal Marines Charity As a result, Age UK Portsmouth has proven its resilience and continues to build on becoming truly self-reliant. Page 10 AGE UK PORTSMOUTH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Plans for Future Age UK Portsmouth continuously endeavours to understsnd how best to reshape itself so that its services can be sustained whilst ensuring it is able to make a clear decision about the Network Agreement with Age UK. The current Brand Partnership Agreement is to be repla￿d in Spring 2025. All intemal processes, costs and client services are continuously reviewed to ensure that they remain and build on their urrent positive impact both to recipients who need their help, and to the organisation's sustainability- Age UK Portsmouth has always maintsined close relationships wth neighbouring. regional, and nationwid&based Age UK organisations. Engagement in county and nation-wde fora, panels and action groups are vital to growth and full understsnding of population need. Working with Councillors and MPS continues to enable a clear understsnding amongst politicians about the organisation's strengths and long- term core values. STRUCTURE, GOVERNANCE AND MANAGEMENT Responsibilities of the Trustees The Trustees are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and regulats'ons. Company law requires the Trustees to prepare financial statements for each financial year. Under that law the Trustees have elected to prepare the financial statements in accordance v4ith United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required by law to give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that period. The Trustees confimi that they have referred to the guidance contained in the Charty Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activities. The income and property of the charity is applied solely towards the promotion of the objects of the charity as set forth in the Memorandum ofAssociation. No portion of the income and propety can be paid ortransferred directly or indirectly, by way of dividend, bonus or otheNise howsoever by vtsy of profit. to the members of the charity. No member of the Executive Committee or Governing body can be appointed to any office of the charity paid by salary or fees or receive any remuneration or other benefrt in money or money's worth from the charity. Governing document Age UK Portsmouth (charity number 1059945 and company number 03281047> is a company limited by guarantee and a registered charity governed by its memorandum and articles of association. Recruitment and appointment of Trustees A robust system forthe recruitment ofTrustees is in place and adherence to our Equal Opportuntties policy is strict. The Trustee job description and person specification is reviewed on a regular basis to ensure it is appropriate to organisational needs. Candidates are invited for interview with the Board, a Disclosure and Barring Service (DBS) check and satisfactory referen￿5 are obtained before any appointrnents are made. Trustee induction and training Trustees are given background infomiation about the organisation and an induction programme. They are encouraged to spend as much time as they can at The Bradbury Centre to become familiar with the services we offer and the role we play in the local community- Page11 AGE UK PORTSMOUTH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Risk management Trustees have in place a system by which they monitor potential risks to which the organisation may be exposed. Risk assessments are reviewed and updated on a regular basis. Organisational structure The board ideally should not be less than five members atany onetime. The board is currently looking for new members. The board meets on alternate months. A Chief Executive Officer {Dianne Sherlock) was appointed by the Trustees in October 2010 to manage the day-to-day operations of the charity, reporting directty to the Trustees. Related parlies There were no related paty transactions for the year end 31 March 2024 or 31 March 2023. Exemption from disclosure Age UK Portsmouth does not hold any form of exemption from disclosure therefore trustee and senior staff names have not been omitted. Funds held as custodian trustee on behalf of others Age UK Portsmouth does not hold funds, nor act as custodian trustees, on behalf of others. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 03281047 (England and Wales) Registered Charity number 1059945 Registered Office The Bradbury Centre 16-18 Kingston Road Portsmouth Hampshire P01 5RZ Trustees Paul Hummel-Newell- Chair Stewart Wooles- Vice Chair Tim Gamester- Trustee from January 2024 Elizabeth Fellows - Trustee Reverend Bob White- resigned 05 October 2023 Margaret Geary- resigned 05 October 2023 Tom Jack- resigned 05 October 2023 Executive team Dianne Sherlock Annabelle Morgan Lianne Jones Chief Executive Officer Finance Manager Corporate Services Manager resigned July 2023 Auditors Morris Crocker Chartered Accountants, Business and Tax Advisors Station House, North Street, Havant Hampshire P09 1QU Page 12 AGE UK PORTSMOUTH REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Bankers National Westminster Bank pl 130 Commercial Road Portsmouth Hampshire P01 1ES Solicitors Biscoes Law Limited 62-68 Kingston Crescent Portsmouth Hampshire P028AQ Page 13 AGE UK PORTSMOUTH STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The trustees (who are also the directors of Age UK Portsmouth for the purposes of Gompany law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally AGcepted AcGounting 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 resourGes, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to select suitable accounting policies and then apply them consistently., obseNe the methods and principles in the Charity SORP. make judgements and estimates that are reasonable and prudent: prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper aGcounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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 offraud and other irregularities. In so far as the trustees are aware.. there is no relevant audit information of which the charitable company's auditors are unaware; and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. SMALL COMPANY PROVISIONS This report has been prepared in accordance with the special provisions for small companies under Part Vll of the Companies Acl 2006. AUDIT The auditors, Morris Crocker Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. Approved by order of the board of trustees on and signed on its behalf by.. Signed-. au ummel-Newell of the Board Signed.. anne SherloGk, Chief Executive Officer Page 14 **REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF AGE UK PORTSMOUTH** ## **Opinion** We have audited the financial statements of Age UK Portsmouth (the 'charitable company') for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). - In our opinion the financial statements: - give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Companies Act 2006. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. ## **Other information** The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. 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. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether 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: - the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and - the Report of the Trustees has been prepared in accordance with applicable legal requirements. Page 15 **REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF AGE UK PORTSMOUTH** ## **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 Report of the Trustees. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of trustees' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit; or - the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees. ## **Responsibilities of trustees** As explained more fully in the Statement of Trustees' Responsibilities, 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. Page 16 **REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF AGE UK PORTSMOUTH** ## **Our 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 a Report of the Independent Auditors 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. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: From discussion with management and those charged with governance information about the entity is documented to assess the activity within the organisation. We discuss management's assessment of risk in respect of irregularities, fraud and going concern. Based on these discussions and our own assessments we determined that the key risk areas were income recognition in respect of cut off issues and management override concerning the size of the organisation. We set financial statement materiality level based on the level of income. As a not for profit organisation raising income is its primary focus which is why income was used to determine the level of materiality. Our overall assessment of risk was used to determine performance materiality at an appropriate level. Substantive audit tests were designed after assessing and performing walkthrough tests. The walkthrough testing confirmed documented systems which have been designed to act as a preventative measure against fraud and error which appear to be operating as documented. Substantive testing tested a sample of the population, representative of the population, to identify errors. The testing did not identify any material misstatements in areas tested. Audit substantive tests concluded no material errors over the key risk areas of income recognition and management override. The audit considers the organisation is not exposed to material risk of error as a result of assessing laws and regulations that are appropriate to the organisation. Management assessed there is no going concern risk. The audit undertook a review of budgets, management accounts and the review of board minutes and came to the same conclusion as management. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors. Page 17 ## **REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF AGE UK PORTSMOUTH** ## **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 auditors' 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. Stuart Mackie (Senior Statutory Auditor) for and on behalf of Morris Crocker Limited Chartered Accountants Statutory Auditors Station House North Street Havant Hampshire PO9 1QU Date: ............................................. 28th November 2024 Page 18 ## **AGE UK PORTSMOUTH** ## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024** |Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
**Charitable activities**
5
Charitable activities
Other trading activities
3
Investment income
4
Other income
**Total**
**EXPENDITURE ON**
Raising funds
6
**Charitable activities**
7
Charitable activities
**Total**
**NET INCOME/(EXPENDITURE)**
**Transfers between funds**
18
**Net movement in funds**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
funds
£
362,452
935,394
26,828
8,297
12,077
1,345,048
71,423
940,477
1,011,900
333,148
5,119
338,267
769,478
1,107,745|Restricted
funds
£
79
128,753
-
-
680
129,512
2,860
123,466
126,326
3,186
(5,119)
(1,933)
2,640
707|2024
Total
funds
£
362,531
1,064,147
26,828
8,297
12,757
1,474,560
74,283
1,063,943
1,138,226
336,334
-
336,334
772,118
1,108,452|2023
Total
funds
£
12,311
1,013,866
18,283
1,601
19,791
1,065,852
63,719
1,125,706
1,189,425
(123,573)
-
(123,573)
895,691
772,118| |---|---|---|---|---| The notes form part of these financial statements Page 19 AGE UK PORTSMOUTH BALANCE SHEET 31 MARCH 2024 2024 2023 Notes FIXED ASSETS Tangible assets 13 497,348 501,888 CURRENT ASSETS Debtors Cash at bank and in hand 14 147,735 583,119 223,078 194,709 730,854 417,787 CREDITORS Amounts falling due within one year 15 (119.750) {147,557) NET CURRENT ASSETS 611,104 270,230 TOTAL ASSETS LESS CURRENT LIABILITIES 1,108,452 772,118 NET ASSETS 1,108,452 772,118 FUNDS Unrestricted funds Restricted funds 18 1,107,744 708 769,478 2,640 TOTAL FUNDS 1,108,452 772,118 These financial statements have been prepared in accordan￿ with the provisions applicable to charitable companies subject to the small Companies regime. The fi nci statements were approved by the Board of Trustees and authorised for issue on and were signed on its behalf by- P Hummel-Newell - Trustee The notes form part of these financial statements Page 20 ## **AGE UK PORTSMOUTH** ## **CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024** |Notes
**Cash flows from operating activities**
Cash generated from operations
1
Net cash provided by/(used in) operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
Sale of intangible fixed assets
Sale of tangible fixed assets
Sale of fixed asset investments
Interest received
Net cash provided by/(used in) investing activities
**Change in cash and cash equivalents**
**in the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the end**
**of the reporting period**|2024
£
385,431
385,431
(6,579)
-
1,261
-
8,297
2,979
388,410
194,709
583,119|2023
£
(178,016)
(178,016)
(9,525)
2,450
-
2
1,601
(5,472)
(183,488)
378,197
194,709| |---|---|---| The notes form part of these financial statements Page 21 **AGE UK PORTSMOUTH** ## **NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024** ## **1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES** |**Net income/(expenditure) for the reporting period (as per the**
**Statement of Financial Activities)**
**Adjustments for:**
Depreciation charges
Profit on disposal of fixed assets
Interest received
Decrease/(increase) in debtors
(Decrease)/increase in creditors
**Net cash provided by/(used in) operations**|2024
£
336,334
11,119
(1,261)
(8,297)
75,343
(27,807)
385,431|2023
£
(123,573)
14,799
(2,450)
(1,601)
(141,845)
76,654
(178,016)| |---|---|---| ## **2. ANALYSIS OF CHANGES IN NET FUNDS** |**Net cash**|At 1.4.23
Cash flow
At 31.3.24
£
£
£| |---|---| |Cash at bank and in hand|194,709
388,410
583,119| ||194,709
388,410
583,119| |**Total**|194,709
388,410
583,119| The notes form part of these financial statements Page 22 **AGE UK PORTSMOUTH** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value. The trustees consider that there are no material uncertainties regarding the charity's ability to continue as a going concern. ## **Income** Donations and Legacies income includes donations, gifts and legacies and grants that provide core funding or are of general nature are recognised where there is entitlement, probability of receipt and the amount can be measured with sufficient reliability. Such income is only deferred when: - The donor specifies that the grant or donation must only be used in future accounting periods; or - The donor has imposed conditions which must be met before the Charity has unconditional entitlement. Other Fundraising Activities and Investment Income is recognised on a receivable basis. Income from Charitable Activities includes income received under contract or where entitlement to grant funding is subject to specific conditions is recognised as earned (as the related goods and services are provided). Grant income included in this category provides funding to support activities and is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in the notes to the accounts. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Freehold property - 1% on cost Plant and machinery - 33% on cost Fixtures and fittings - 33% on cost Computer equipment - 50% on cost Individual fixed assets costing £500 or more are capitalised at cost. ## **Taxation** The charity is exempt from corporation tax on its charitable activities. Page 23 continued... **AGE UK PORTSMOUTH** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** ## **1. ACCOUNTING POLICIES - continued** ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **Pension costs and other post-retirement benefits** The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. ## **Financial instruments** The charity only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable investments in stocks and shares. The measurement basis use for these financial instruments is detailed below. ## **Debtors and cash at bank & in hand** 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. Cash at bank and in hand includes cash held on deposit or in a current account. ## **Creditors and provisions** Creditors and provisions are recognised where the charitable company 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. ## **2. DONATIONS AND LEGACIES** |Donations
Legacies
**3.**
**OTHER TRADING ACTIVITIES**
Hairdressing
Chiropody
Café|2024
£
10,445
352,086
362,531
2024
£
5,126
17,795
3,907
26,828||2023
£
12,311
-
12,311
2023
£
4,935
13,009
339
18,283| |---|---|---|---| Page 24 continued... **AGE UK PORTSMOUTH** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** ## **4. INVESTMENT INCOME** |Deposit account interest
All investment income is derived from assets held in the United Kingdom.
**5.**
**INCOME FROM CHARITABLE ACTIVITIES**
Activity
Grants
Charitable activities
Service income
Charitable activities
Grants received, included in the above, are as follows:
Royal Navy and Royal Marines Charity
Age UK
Big Lottery Fund
Armed Forces Covenant Fund Trust
HIVE Discretionary Crisis
Portsmouth City Council
HIWCF
Chichester College Kickstart
Action Hampshire
British Red Cross
Hampshire County Council
**6.**
**RAISING FUNDS**
**Other trading activities**
Purchases
Support costs|2024
£
8,297
2024
£
313,043
751,104
1,064,147
2024
£
19,875
132,213
108,140
-
819
833
513
-
-
-
50,650
313,043
2024
£
53,330
20,953
74,283|2023
£
1,601
2023
£
368,909
644,957
1,013,866
2023
£
44,344
122,017
35,378
59,837
610
44,000
4,578
8,011
3,460
18,972
27,702
368,909
2023
£
37,037
26,682
63,719| |---|---|---| Page 25 continued... **AGE UK PORTSMOUTH** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** ## **7. CHARITABLE ACTIVITIES COSTS** |Charitable activities
**8.**
**SUPPORT COSTS**
Management
£
Other trading activities
18,951
Charitable activities
251,793
270,744
Activity
Basis of allocation
Management
Use of resources
Finance
Use of resources
Governance costs
Use of resources||Direct
Costs
£
785,547
Finance
£
1,149
15,274
16,423|Support
costs (see
note 8)
£
278,396
Governance
costs
£
853
11,329
12,182|Totals
£
1,063,943
Totals
£
20,953
278,396
299,349| |---|---|---|---|---| Support costs, included in the above, are as follows: ## **Management** |Staff costs
Office costs
Premises costs
Accountancy support
**Finance**
Bank charges
Depreciation of tangible fixed assets||Other
trading
activities
£
10,872
3,811
1,763
2,505
18,951
Other
trading
activities
£
372
777
1,149|Charitable
activities
£
144,449
50,645
23,428
33,271
251,793
Charitable
activities
£
4,941
10,333
15,274|2024
Total
activities
£
155,321
54,456
25,191
35,776
270,744
2024
Total
activities
£
5,313
11,110
16,423|2023
Total
activities
£
239,274
61,382
15,463
36,634
352,753
2023
Total
activities
£
4,757
14,799
19,556| |---|---|---|---|---|---| Page 26 continued... **AGE UK PORTSMOUTH** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** ## **8. SUPPORT COSTS - continued Governance costs** **----- Start of picture text -----**
|||||| |---|---|---|---|---| |2024|2023| |Other| |trading|Charitable|Total|Total| |activities|activities|activities|activities| |£|£|£|£| |Auditors' remuneration|420|5,580|6,000|5,257| |Auditors' remuneration prior year under| |provision|108|1,430|1,538|-| |Accountancy fees|325|4,319|4,644|3,606| |853|11,329|12,182|8,863| **----- End of picture text -----**
## **9. NET INCOME/(EXPENDITURE)** Net income/(expenditure) is stated after charging/(crediting): **----- Start of picture text -----**
|||| |---|---|---| |2024|2023| |£|£| |Auditors' remuneration|6,000|5,257| |Depreciation - owned assets|11,119|14,799| |Surplus on disposal of fixed assets|(1,261)|(2,450)| **----- End of picture text -----**
## **10. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. ## **Trustees' expenses** During the year no trustees (2023: none) were reimbursed out of pocket expenses totalling £nil (2023: £nil). ## **11. STAFF COSTS** **----- Start of picture text -----**
2024 2023
£ £
Wages and salaries 848,673 910,498
Social security 37,979 41,923
Employers pension costs 16,512 17,220
903,164 969,641
**----- End of picture text -----**
The average monthly number of employees during the year was as follows: **----- Start of picture text -----**
|||| |---|---|---| |2024|2023| |Charitable|32|35| |Support|43|48| |75|83| **----- End of picture text -----**
No employee received emoluments in excess of £60,000 (2023: none). 2024 2023 Page 27 continued... **AGE UK PORTSMOUTH** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** ## **11. STAFF COSTS - continued** £60,001 - £70,000 - - ## **Key Management Personnel** The key management personnel of the charitable company comprises the Chief Executive Officer, Chief Operations Officer, Corporate Services Manager and the Finance Manager. During the current financial year, the charitable company stopped the roles of the Chief Operations Officer and the Corporate Services Manager . The total consideration paid and employee remuneration and benefits of the key management personnel of the charity was £113,584 (2023: £177,927). ## **12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** |**INCOME AND ENDOWMENTS FROM**
Donations and legacies
**Charitable activities**
Charitable activities
Other trading activities
Investment income
Other income
**Total**
**EXPENDITURE ON**
Raising funds
**Charitable activities**
Charitable activities
**Total**
**NET INCOME/(EXPENDITURE)**
**Transfers between funds**
**Net movement in funds**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
funds
£
12,392
858,830
18,283
1,601
18,271
909,377
58,724
977,008
1,035,732
(126,355)
4,418
(121,937)
891,415
769,478|Restricted
funds
£
(81)
155,036
-
-
1,520
156,475
4,995
148,698
153,693
2,782
(4,418)
(1,636)
4,276
2,640|Total
funds
£
12,311
1,013,866
18,283
1,601
19,791
1,065,852
63,719
1,125,706
1,189,425
(123,573)
-
(123,573)
895,691
772,118| |---|---|---|---| Page 28 continued... **AGE UK PORTSMOUTH** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** ## **13. TANGIBLE FIXED ASSETS** |**COST**
At 1 April 2023
Additions
At 31 March 2024
**DEPRECIATION**
At 1 April 2023
Charge for year
At 31 March 2024
**NET BOOK VALUE**
At 31 March 2024
At 31 March 2023
**COST**
At 1 April 2023
Additions
At 31 March 2024
**DEPRECIATION**
At 1 April 2023
Charge for year
At 31 March 2024
**NET BOOK VALUE**
At 31 March 2024
At 31 March 2023
**14.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Other debtors
Prepayments|Freehold
property
£
642,806
-
642,806
148,269
6,428
154,697
488,109
494,537
Motor
vehicles
£
10,025
-
10,025
10,025
-
10,025
-
-|Plant and
machinery
£
12,621
-
12,621
8,574
1,629
10,203
2,418
4,047
Computer
equipment
£
64,493
-
64,493
61,189
2,332
63,521
972
3,304
2024
£
121,981
20,833
4,921
147,735|Fixtures
and
fittings
£
87,413
6,579
93,992
87,413
730
88,143
5,849
-
Totals
£
817,358
6,579
823,937
315,470
11,119
326,589
497,348
501,888
2023
£
215,053
1,060
6,965
223,078| |---|---|---|---| Page 29 continued... **AGE UK PORTSMOUTH** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** ## **15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income
Deferred income comprises grants received for future financial periods.|2024
£
11,415
8,981
2,684
96,670
119,750|2023
£
12,526
12,294
4,437
118,300
147,557| |---|---|---| |Deferred income comprises grants received for future financial periods.|Deferred income comprises grants received for future financial periods.|Deferred income comprises grants received for future financial periods.| |---|---|---| |2024
2023
£
£
Brought forward
112,496
41,656
Amount released to incoming resources
(112,496)
(41,656)
Amount deferred in year
73,969
112,496||| |||| |Carried forward
73,969
112,496||| |||| ## **16. LEASING AGREEMENTS** Minimum lease payments under non-cancellable operating leases fall due as follows: |Within one year
Between one and five years
**ANALYSIS OF NET ASSETS BETWEEN FUNDS**
Unrestricted
funds
£
Fixed assets
497,348
Current assets
730,146
Current liabilities
(119,750)
1,107,744|Restricted
funds
£
-
708
-
708|2024
£
3,957
6,011
9,968
2024
Total
funds
£
497,348
730,854
(119,750)
1,108,452|2023
£
5,755
9,968
15,723
2023
Total
funds
£
501,888
417,787
(147,557)
772,118| |---|---|---|---| ## **17. ANALYSIS OF NET ASSETS BETWEEN FUNDS** Page 30 continued... **AGE UK PORTSMOUTH** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** ## **18. MOVEMENT IN FUNDS** |**Unrestricted funds**
General fund
Designated Fund
**Restricted funds**
Close Encounters
Dementia MCST
**TOTAL FUNDS**|At 1.4.23
£
769,478
-
769,478
-
2,640
2,640
772,118|Net
movement
in funds
£
333,147
-
333,147
5,119
(1,932)
3,187
336,334|Transfers
between
At
funds
31.3.24
£
£
(144,881)
957,744
150,000
150,000
5,119
1,107,744
(5,119)
-
-
708
(5,119)
708
-
1,108,452| |---|---|---|---| Net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**Restricted funds**
Close Encounters
Veterans Information Point
Dementia MCST
**TOTAL FUNDS**|Incoming
resources
£
1,345,047
108,140
19,874
1,499
129,513
1,474,560|Resources
expended
£
(1,011,900)
(103,021)
(19,874)
(3,431)
(126,326)
(1,138,226)|Movement
in funds
£
333,147
5,119
-
(1,932)
3,187
336,334| |---|---|---|---| ## **Comparatives for movement in funds** |**Unrestricted funds**
General fund
**Restricted funds**
Civic Hardship Grant
What's in IT
Living Well
Joining Forces in Portsmouth
Veterans Information Point
Special Advice Service
Dementia MCST
**TOTAL FUNDS**|At 1.4.22
£
891,415
(4,396)
2,496
3,787
461
20
1,908
-
4,276
895,691|Net
movement
in funds
£
(126,355)
-
130
-
-
12
-
2,640
2,782
(123,573)|Transfers
between
funds
£
4,418
4,396
(2,626)
(3,787)
(461)
(32)
(1,908)
-
(4,418)
-|At
31.3.23
£
769,478
-
-
-
-
-
-
2,640
2,640
772,118| |---|---|---|---|---| Page 31 continued... **AGE UK PORTSMOUTH** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** ## **18. MOVEMENT IN FUNDS - continued** Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**Restricted funds**
What's in IT
Close Encounters
Joining Forces in Portsmouth
Veterans Information Point
Dementia MCST
**TOTAL FUNDS**|Incoming
resources
£
909,377
130
30,378
59,837
44,342
21,788
156,475
1,065,852|Resources
expended
£
(1,035,732)
-
(30,378)
(59,837)
(44,330)
(19,148)
(153,693)
(1,189,425)|Movement
in funds
£
(126,355)
130
-
-
12
2,640
2,782
(123,573)| |---|---|---|---| **Designated Fund** is funds that have been set aside to go towards a new CRM and time management system as well as finance migration to the Cloud. **Close Encounters** aims to enhance quality of life for lonely and isolated older people within their community, and alleviate pressure on ambulance services supporting older frequents callers who have no medical need. **Veterans Information Point** is a grant to provide veterans with information and support in debt and finance and to combat lonel iness. **Dementia MCST** (Maintenance Cognitive Simulation Therapy) sessions are offered by the charity. These sessions are weekly and are designed for people who have newly diagnosed or who have been living with mild to moderate dementia. Group members take part in meaningful and stimulating activities that are proven to help maintain memory and mental functioning. The groups provide a fun, supportive environment where people can build new friendships. Activities include: - Discussions - Word games - Quizzes - Low impact physical activities - Creative and musical activities All activities are chosen to be both stimulating and fun. An important aspect of the group is being able to socialise and share experiences with older members. The groups are relaxed, light-hearted, and fun, and group members are encouraged to support each other. ## **Transfers between funds** The transfers from unrestricted funds to restricted funds are to cover shortfalls in funding for those restricted funds. Page 32 continued... **AGE UK PORTSMOUTH** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** ## **19. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 March 2024. ## **20. ULTIMATE CONTROLLING PARTY** The charitable company is not under the control of another entity or any one individual. Page 33