Enfield ageuK Annual Report 2023 / 2024 Age UK Enfield A Company Limlted by Guarantee Trustees. Report and Financlal statements For the year ended 31 March 2024 Company Reglstration Number 3352062 (England and Wales) Charlty Re8lstratlon Number 1063696 (England and Wales)
REFERENCE AND ADMINISTRATIVE INFORMATION Company reglstration number Charlty registration number Governlng document 3352062 IEng13nd and Wales) 1063696 (England and Wales) Articles of A550ciation Trustees Elaine Adkin Alison de Metz Beryl De Souza Nicola Hyde Nicolas Kee Mew Sandra Kirwan (resigned 29 February 20241 Annie Smol Michael Zachari Joseph Harley (appointed 26 April 2023) Mari Edwards (appointed 19 July 2023) Company Secretary Kaya Taylor (resigned 25 April 20241 Joy Watklns {appolnted 7 May 2024) Senlor Management team Peter Glass Alison Gordon Vennetta Hunt Kaya Taylor Registered office Age UK Enfield John Jackson Library 35 Agricola Place Bush Hill Park Enfield ENI IDW Independent auditors Knox Cropper LLP Chartered Accountants 65 Leadenhall Street London EC3A 2AD Bankers Barclays Bank PIC 259 High Street Ponder5 End, Enfield EN3 4DS
CONTENTS Page Chair5, Introduction Trustees, report 3-14 Independent audltorfs report 15-18 Statement of financial activltles 19 Balance sheet 20 Statements of Cash Flows 21 Notes to the financial statements 22-39 Acknowledgement
AGE UK ENFIELD Chairs, Introductlon The past year, as ever, has been one of growing demand for Age UK Enfield's services set against a backdrop of financial pressures experienced by both the NHS and Enfield Council which has resulted in a reduction of their services, long waiting lists and in some cases, services being cut completely. Despite this and some of the challenges, past and on-going outlined below, the continued commitment and professionalism of our staff and volunteers has ensured that we have supported literally thousands of senior citizens over the past year and in many instances, minimising the impact of some of the NHS and Council cuts. The Borough of Enfield has the highest prevalence of dementia diagnosis in the whole of London, and the second highest cardiovascular disease death rate for over 65-year-olds. No surprise then that the demand on both our preventative care services as well as our care services has grown significantly again this year. Over 78,000 contacts were made during the year, resulting in 13,074 clients receiving our services. Demand for our Parker Day Centre - the only dedicated dementia day care centre now in the Borough- is over-whelming and we have a long waiting list which for various reasons we have not been able to accommodate. One reason, the breakdown of the Parker Centre Ilft with the Council wanting us to pay for a new one has resulted in only able-bodied clients being able to Use the upper rooms, in turn impacting our ability to offer places to those Individuals who have a real need. Add to this the John Jack50n Library - the home of our support functions, information and advice service - being at risk of closure, the Board has had to make some key decisions for the year ahead. Our priority in the coming year is to find one new site to house our dementia day care service5, information and advice and our support staff- in effect a one-stop shop which we're calling Destination Age UK Enfield. We will continue to provide support with all the usual Services and activities held across the borough. Our focus will be on securing the required fund5, generating public awareness and support for this exciting next stage of our development. The needs of the older people of Enfield are greater and more complex than at any other time and we are well equipped to respond. We have recently passed the demanding standards of Age UK'S Charity Quality Standard audit as well as the Advice Quality Audit, achievin8 the Advice Quality Standard which is a great endorsement for the work of our Information and Advice teams. We have enjoyed seeing a growth in our volunteer numbers and we now have the benefit of a part time volunteer co-ordinator, which has helped with the recruitment and training of volunteers, without whom we could not provide the range of Services that we do. Peter Gla55, our CEO, has continued to build relationships with Enfield Council, the ICB and other voluntary sector organisations, resulting in Age UK Enfield sittin8 on the key decision- making forums for senior citizens in the Borough. l am once again amazed at the level of hard work, compassion and energy that our staff and volunteer's exhibit. l am proud of the Board of the Trustees, commitment, continued interest and support they provide.
AGE UK ENFIELD I look forward to working with the Board and all at Age UK Enfield onto our next stage of growth. Elaine Adkin Chair, Board of Trustees
AGE UK ENFIELD TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 Chariws misslon and purpose The trustees present their report and financial statements of the charity for the year ended 31 March 2024. The trustees have complied with the duty to have due regard to guidance issued by the Charity Commission and have adopted the Statement of Recommended Practice {SORP FRS 102 second edition), which was effective from l January 2019. Our purpose The charity's objects I'the objects'l are specifically restricted to promoting the following purposes for the benefit of the public and older people in and around the London Borough of Enfield (the 'area of benefit,) regardless of ethnic origin, gender, marital status, disability, sexual orientation or religious belief: l. Preventing or relieving the poverty of older people 2. Advancing education for older people 3. Preventing or relieving sicknes5, disease or suffering in older people {whether emotional, mental or physicall 4. Promoting equality and diversity in relation to older people 5. promoting the human rights of older people in accordance with the Universal Declaration of Human Rights; 6. Assisting older people in need by reason of ill health, disability, financial hardship, social exclusion or other disadvantage 7. Such other charitable purposes for the benefit of older people as the board may from time to time decide, the outcome of this being the promotion of wellbeing of older people. Structure, Governance and Management Governlng document The organisation Is a ch3rit3ble company limited by guarantee, incorporated on 14 April 1997 and registered as a charity on 30 July 1997. The charitable company formed in 1997 as Age Concern Enfield took on the assets and liabilities of a previous unincorporated charity. The company changed its name to Age UK Enfield on 15 February 2023. The company was established under a Memorandum of Association which defined the objects and powers of the charitable company. It is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1.
AGE UK ENFIELD TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Public Benefit The Trustees confirm that they referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's aims and objectives. They consider that the activities carried out, summarised in the Activities & Achievements section of this report below, provide benefit to the community. Activities & Achievements Age UK Enfield's services are organised in two categories: Prevention and Wellbeing Services, and Care and Support Services. As an organisation we continue to work hard to ensure there are clear pathways and referral routes across our services, streamlining to ensure 3 smooth experience for our clients. We have been improving our recording, reporting and monitoring to ensure we can evidence the work that we have been doing. We have adapted to new ways of worklnE, improving our technology to better enable home working, being flexible and taking innovative and creative approaches to the ever-changing range of guidelines and requirements that we follow- be that government guidance in relation to COVID-19 or other matters, charity and company governance and law, or from our sister organi5ation, Age UK National. Age UK Enfield provides the following services: Prevention and Wellbelng Services Falls prevention Memory service Frailty services ican Enfield Wellbeing Network Later Life Planning Information and Advice Digital Inclusion Men's Sheds Veterans in Enfield and Waltham Forest Fit for life Care and Support Services Home care Day care Home from Hospital Maintenance Cognitive Stimulation Therapy IMCSTI
AGE UK ENFIELD TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Prevention and Wellbeing Services Falls Prevention. Our Fall Stop, falls prevention service, provides a range of information, exercise and activity sessions for people who have fallen or are at risk of falling. In 2023/24 an incredible 3,288 people attended our Falls Stop classes. 58% higher than the previous year. The geographic split across the borough is consistent with the Enfield ageing population with and an even spread of participants from across the whole of the borough. 30% of attendees are aged 65_74, 490/0 are aged 75 to 84 and 17% aged 84+. Demand for exercise classes remains high. In total 212 people were referred for one to one support, we ran 237 classes and had 3,288 attendees. We introduced Movement as Medicine sessions to manage the demand on services. Partnering with the new MSK Hub, these provided an excellent beginner's course for people with long term health conditions. '1 struggled with pain in my knees, Donna has been so kind and taught me ofew more things I can do ot home to help myself in between closses. Sophie Glso gove me exercises in o book by Age UK Enfield to do at home. Ifeel o lot Stronger ond confident since., Memory Service Memory Meet Up is a social group which offers people diagnosed with dementia and their carers a chance to meet other people, try new activities and learn how to Ilve well with dementia. Our Health & Wellbeing navigators work closely with Enfield Memory Service and received 383 referrals for support for people newly diagnosed with dementia. The national diagnosis rates of dementia have continued to rise since Covid and demand for local support is high. During 2023/24, 820 people attended our extremely popular fortnightly Memory Meet Ups session. We considered movSng to a larger premises to accommodate the need. st In 2023/24 we celebrated our i anniversary with Chicken Shed theatre, Gladrags is an intergenerational immersive creative activity, We welcomed 150 people at our birthday event and 600 people have attending the large quarterly events across the year. The events build friendships, reduce isolation and are suitable for people even with advanced dementia. 'Lyn, navigator. visited us at home, she spoke about everything - safety in the home, benefits, and the small things that can just make life a little easier. It helps knowing you 8n call heratany time,.
AGE UK ENFIELD TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Frailty Service In 2023/24 we received 536 referrals for Health & Wellbeing services. The demand on services is consistent due to cost-of-living and energy crisis and people sought help to relieve pressure of rising costs. Referr315 are made from a variety of sources includ ing Social Prescribers, health professionals and self-referrals. Health & Wellbeing navigators support people with applications for welfare benefits to boost income, help with applying for travel concessions to enable people to access community activities and health awareness support, to improve their understanding of their health cond itions. Our sustained funding increase has enabled us to continue our work at North Middlesex Care of the Elderly wards. During 2023124 our navigator worked with 189 people. In the past 12 months, with thanks to funding from Utley Foundation we have delivered 12 monthly sessions of Social Singing, and 260 people have attended. 55% of people attending are affected by dementia, 35% are carers of people affected by dementia and the remaining IO% have mentioned Social isolation as their main reason for attending. We have found that by offering additional dementia friendly activities this has created friendships amongst attendees. In turn this has enabled them to have a wider social network of support and confidence in attending activitie5 Without concern for their loved one's behaviours. My husband loves music and singingyou have given us a place to attend where we fit in. I also get a break when he attends Men's Sheds. ican ican service is a consortium led by Age UK Enfield, of Attend, Alpha Care and Enfield Carers Centre. We provide one to one support to adults over 18 to understand health conditions, to live well independently within the community. In 2023/24, we received 749 referrals for one-to-one support with a navigator. A further 1,965 people attended our monthly group activities. Our attendance rate is 8.9 tlmes higher than our KPI. Survey feedback illustrated that 99% of people were satisfied with the navigators, interactions and people felt they listened and responded to their concerns and took steps to help them find solutions. We have noticed an even split between genders seeklng support with 52%0 identifying as women and 48Yo identifying as male. We delivered 5 large public event5 between April 2023 - March 2024, Ageing Well was extremely popular topic and so we delivered two large events on focusing on active ageing. In total 437 people attended our events
AGE UK ENFIELD TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Enfield Wellbeing Network EWN is a consortium led by Mind in Enfield and Barnet to improve the lives of local people and help them to set goals and try new activities. In 202312024 we supported 163 people and held 27 events that encourage people to improve nutrition, live on food budget, creative writing, and journalling. As well as the popular monthly Menopause Meet Up in partnership with IAPT and Barchester Care. Planning for Later Life For people over 50 and their families, our free Planning for Later Life awareness sessions cover a range of topics including: making a will, power of attorney, advanced statements / decisions, and bereavement services. We also offer l-l individually tailored support for people with life- limiting conditions. In 2023124, we incorporated Later Life Planning into all our public events. The Later Life Adviser also saw 77 individuals for one-to-one sessions during this period. Information, Advice and Advocacy The Information, Advice and Advocacy Service can support and enable anyone over pensionable age, and who is a resident of Enfield, to: maximise their income through welfare benefit checks. claim benefits. apply for travel concessions. Our IA and navigation team members worked incredibly hard to meet the Quality Assurance Standard IQASI and Advice Standard Qualification, successfully passing to become an accredited IA service in January 2024 In 2023/24, 2,013 people received one off advice through customer services, and 517 people received ongoing IA complex case support from our services. We obtained £1,442,710 in welfare benefit entitlements for residents. Of the people who accessed IA support 56Yo of people were living alone. 64Yo lived in the deprived wards in the east of the borough. 34Yo identified as from BAME communities. Dlgltal Inclusion Our funding for Digital Inclusion ended, but we continued to offer the service as there was such high demand. Our Digital Inclusion worker saw 45 individuals providing 335 contacts with individuals to acce55 their devices and reduce digital anxiety.
AGE UK ENFIELD TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Veterans in Enfield and Waltham Forest Our Veterans in Enfield and Waltham Forest project continued to offer support to redLice social isolation and tackle loneliness in people that have served in The Armed Forces. As our funding ended in March 2024, we submitted our final reports to our funders. In 2023/24, 78 people attended our sessions across Enfield and Waltham Forest. The Breakfast Club celebrated its 2. Birthday and expanded offers to include trips and outings across the capital and wider regions. Men's Sheds We were funded by National Lottery, Sky Cares and Old Enfield Community Trust for our 202312024. Sheds has grown in the past year, building a solid community of regular attendees. We celebrated our 1st Birthday and invited friends and family members to attend, we had 50 people join us. We also delivered sessions for Men's Mental Health Awareness. Throughout the year we held 98 sessions with 1,176 people attendin8. Amongst our projects we created a bench for Friends of Gordon Hill Station. Fit for Llfe The City Bridge Trust funded the Fit for Life IFFL) project, a series of exercise and fitness classes for people over 50. Classes take a place at a range of community venues across the borough, as well as walks of varying lengths in local parks suitable for all abilities. Our programme had 24 group exercise classes, from beginners to intermediates. We also offer 6 weekly walks in town and country park5 and a monthly quiz. During the summer, we run a cycling project in Bush Hill Park funded by Groundwork London and TFL which is proven to be incredibly popular. In total, 3,826 people took part in our activities during the year, with a staggering 13,504 attendances on classes, walks and cycling sessions.
AGE UK ENFIELD TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Care and Support Services Our Care Services support many vulnerable people in the Borough through long term regular and ongoing support. Day Care The Parker Centre is a specialist dementia day care centre in Edmonton. Clients over 50 who have early to late-stage dementia, attend for the day and take part in a range of activitie5 including reminiscence sessions, chair-based exercise, arts and crafts, and much more. We provide a nutritious, freshly cooked meal as well as refreshments throughout the day. A surge in attendances at the centre in March 2023 meant that we supported 130 people to attend the day centre in the last year, that's 9,255 day attendances, 7,946 hot meals, and 7,067 return trips provided on transport. We held 2 Christmas parties for our day centre clients and their families in December where we hosted 80 people at each event. We also put on activities such as Jazanne arts who attend fortnightly, seated exercise weekly, and yoga which is run weekly. We hope to be running trips to Lee Valley White Water Centre in the near future to enable our clients to enjoy fresh air and green spaces. Home Care and Home from Hospital Home Care offers a range of services within people's homes with the aim of enabling them to continue living independently. This can include organising stimulating activities, personal care, asslstance with medication, accompanying people to appointments, organising shopping, and broad range of household tasks and social outings. There was an emphasis in the year to increase our delivery hours, we 5UPPOrted 152 people on the home care service throughout the year, this equates to 11,000 hours of care Including 240 hours of home from hospital service. This is double the amount we delivered In the previous 12 months.
AGE UK ENFIELD TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The Board of Trustees In accordance with the Articles of Association, the Company has a Board. Under the requirements of the Articles of the Company, the member5 of the Board are elected to serve for a period of three years from the date of their election and are eligible for re-election to service for a maximum of nine years. The members of the Board are the Company's Directors for the purp05e of company law and Trustee5 of the Charity for the purposes of charity law. In accordance with the Articles, the Board consists of a minimum of five trustees and maximum of fifteen, to be elected by the members at a General Meeting or appointed to fill a casual vacancy or co-opted. The Honorary Officers (Co-chairs, Treasurer and Honorary Secretary) are appointed by the Board from amongst the trustees in accordance with the Articles. Up to two representatives of the Statutory Health Authority and the Local Authority are entitled to attend Board meetings as observers. The Board meets approximately every three months to review and agree major areas of policy and the strategic direction of the Charity. The Board has three formal sub-committees to which certain management responsibilities have been delegated. The Board from time to time also forms working groups which consist of a combination of staff and trustees e.g. Parker Centre or Constitution Review Group. These working groups have a very specific remit and report to the Board. Members of the Board who served during the financial year and up to the date of approval of the annual report were as follows: Dlrector / Trustee Appolntment Date 08/1212020 08/1212021 2610512021 24/1112016 08112/2021 26105/2021 | 16102/2017 | 08112/2021 19107/2023 26104/2023 05108/2024 Resignation Date Elaine Adkin Nicola Hyde Nicolas Kee Mew Sandra Kirwan 29/0212024 Alison de Metz Anne Smol Beryl De Souza Michael Zacharia Mari Clwyd Edwards Joseph Daniel Harley Rachel Howard 13/09/2024 io
AGE UK ENFIELD TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Governance The Board ensures that the composition and the breadth of experience are sufficient for it to discharge its responsibilities. To these ends the Board regularly reviews its composition and where necessary identifies suitable people to strengthen its skills and experience. Induction Prospective trustees are invited to meet the Chair and the Chief Executive for informal interviews. At these interviews the duties and responsibilities of trustees, and the amount of commitment to the organisation required are fully discussed and suitable literature is provided to them. If the prospective trustee is approved by the Chair they are invited to attend a Board meeting, before a final decision is made by the individual and the Board. Alternatively new trustees can be elected by the members at a general meeting. Tralnlng Each joining trustee is allocated a mentor and furnlshed with several documents which are Ilsted below and include the responsibilities and duties of honorary officers and trustees: Guidance on the nomination of Honorary Officers and Trustees/Directors' An Information pack on Roles and Responsibilities; Role description for Trustee; Role description5 for each of the Honorary Officers; Changes in charity law and compliance with company regulations are notified to the trustees at their regular meetings; The latest Annual Report. The Charity also operates internal training and an annual trustee training dav. Financial Review Total incoming resources were £1,939,95112023: £1,515,028) for the year and expenditure amounted to £1,839,38112023: £1,582,285) resulting in a net surplus of £100,570. There was an actuarial {"below the line") loss on the final salary pension scheme of £7,000. The final salary pension scheme is with national Age UK and was closed to staff several years ago. The scheme is currently in surplus, but Age UK Enfield is contributing over £43,000 per annum as part of the plan to maintain this surplus. See Note 12. Slgnlflcant Contracts The Charity has significant contractual relationships with the London Borough of Enfield Social Services and Enfield Clinical Commissioning Group which provide a significant proportion of the Chariws funding. Contract income of £609,255 was received in the year ended 31 March 2024 to support the provision of services for older people. li
AGE UK ENFIELD TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Reserves Policy As of 31 March 2024, the charity held free reserves of £470,861. Free reserves are unrestricted general funds not tied up in fixed assets, restricted or designated funds. Free reserves are held to ensure the continuity of care to older people, given the relative uncertainty of future project funding and to protect the long-term viability of the Charity. The medium-term financial strategy regards a three to six months reserves required to cover income volatility and short-term working capital requirements. The current reserves are within that range. Investment Policy Funds not immediately required by the charity for Its charitable activities are invested in short term interest yielding bank deposit accounts at the prevailing market rates of interest. Risk Management The Board regularly reviews the risks to the organisation, ensuring proper systems and procedures are in place to manage these risks. Inabilit to enerate sufficient income to meet our ob'ectives and deliver our services We continue to explore opportunities to diversify our income and consider all relevant opportunities to generate income that will further our objectives. Expenditure is monitored closely. We remain conscious of the need to ensure full cost recovery in our Day Care and Home Care services with performance in these areas reviewed monthly by the senior management team and at each meeting of the Finance and Audit Sub-committee of trustees. Insufficient reserves to withstand a downturn in activit We have improved our reserves position over the course of the financial year. We aim to maintain a level of reserves consistent with our Reserves Policy, but, despite a strong performance in the year, this remains a challenge in the current operating environment. We closely monitor our income and expenditure and will look to grow our unrestricted income over the coming period. I nsecurit of remises arran ements At the tlme of writing this report, Enfield council has made a policy decision regarding aspects of the council's property portfolio. Having conducted a review there are plans in place for the closure of a number of the borough's libraries, of which John Jackson is one. In addition, we have been informally advised that the location of our longstanding dementia day service, The Parker Centre, 15 under review, with a view to selling the property. 12
AGE UK ENFIELD TRUSTEES REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 For some time, AUKE has been in direct conversation with LB Enfield with a view to looking at alternative property solutions and plans are underway to take occupation of an improved and larger facility which will provide accommodation for the day service and additionally the staff who currently use the John Jackson library building. Plans for Future Periods The current organisational strategy for 2022-2025 is being reviewed and a recommendation to extend it to April 27 will be made to the Board of Trustees. Within the current strategy, priority areas have been reaffirmed, a key one being accommodation and continued focus on revenue generation. Going Concern The financial trend has been positive with increased income during the reporting period, and recorded a surplus. Therefore, after reviewin8 the charity's initial forecasts and projections and its strategy for growth, the directors have reasonable expectations that the charity has adequate resources to continue in operational existence for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements. Trustees, responsibilities In relation to the financial statements The trustees (who are also the directors of the charitable company for the purposes of company lawl are responsible for preparing the tru5tees' annual report and financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each year which give true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including income and expenditure, of the charitable company for that period. In preparing these account5, the trustee5 are required to: select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP; make judgements and estimates that are reasonable and prudent; state whether applicable UK Accounting Standards have been followed, subject to any material departure disclosed and explained in the accounts. prepare the accounts 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 accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the accounts comply with the Companie5 Act 2006. They are also 13
AGE UK ENFIELD TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 responsible for safeguarding the assets of the charitable company and the group and hence for taking reasonable Steps for the prevention and detection of fraud and other irregularities. 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. Statement as to disclosure to our auditors In so far as the trustees are aware at the time of approving our trustees, annual report: there Is no relevant audit Information, being information needed by the auditor in connection wlth preparing their report, of which the charity's auditor is unaware; and the trustees having made enquiries of fellow directors and the charitWs auditor on steps that they ought to have Individually taken, have each taken all steps that he/she is obliged to take as a director in order to make them5elve5 aware of any relevant audit information and to establish that the auditor is aware of that information. This report has been prepared in accordance with the provisions in Part IS of the Companies Act 2006 applicable to companies subject to the small companies, regime. By order of the Board of Trustees Elaine Adkin Chair of Trustees 14
AGE UK ENFIELD INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF AGE UK ENFIELD Opinion We have audited the financial statements of Age UK Enfield {the 'charitable companTrK} for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financiol Reporting Standard applicable in the UK ond Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements". give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its income and expenditure for the year then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 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 {UKI (ISAS {UKI) and applicable law. Our responsibilities under those Standards are further described in the Auditor's responsibilitie5 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. Concluslons relatlng to golng 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. 15
AGE UK ENFIELD INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF AGE UK ENFIELD (continued) Other information The other information comprises the information included in the annual report, otherthan the financial statements and our auditorfs report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether 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. Oplnions on other matters prescrlbed by the Companle5 Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given In the trustees, report, which includes the directors, report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and the directors, report included within the trustees, report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors, report included within the trustees, report. We have nothing to report in respect of the following matters in relation to which 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, remuneratlon specified by law are not made; or we have not received all the information and explanations we require for our audit; or the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies, exemptions in preparing the tru5tees' report and from the requirement to prepare a strategic report. 16
AGE UK ENFIELD INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF AGE UK ENFIELD Responsibilities of trustees As explained more fully in the trustees, responsibilities statement, the trustees {who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the companrfs ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. Auditorfs responslbllltles for the audlt of the flnancial 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 {UKI 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 procedure5 are capable of detecting irregularities, includ ing fraud is detailed below: The Charitable Company is required to comply with both comp3ny13w and charity law and, based on our knowledge of its activities, we identified that the le831 requirement to accurately account for restricted funds was of key significance. We gained an understanding of how the charitable company complied with its le8al and regulatory framework, including the requirement to properly account for restricted funds, through discussions with management and a review of the documented policies, procedures and controls. The audit team, which is experienced in the audit of charitles, considered the charitable company's susceptibility to material misstatement and how fraud may occur. Our considerations included the risk of management override. Our approach was to check that all restricted income was properly Identified and separately accounted for and to ensure that only valid and appropriate expenditure was charged to restricted funds. This included reviewing journal adjustments and unusual transactions. 17
AGE UK ENFIELD INDEPENDENT AUDITORS, REPORT TOTHE MEMBERS OF AGE UK ENFIELD A further description of our responsibilities for the audit of the flnancial statements is located on the Financial Reporting Council's website at.. www.frc.or audltorsres onsibilities. This description forms part of our audltor'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'5 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 companv and the charitable company's members as a body, for our audit work, for this report or for the oplnions we have formed. 07111124 Simon Goodridge {Senior Statutory Auditor) For and on behalf of Knox Cropper LLP, Statutory Auditor and Chartered Accountants 65 Leadenhall Street London EC3A 2AD 18
AGE UK ENFIELD STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Total Funds 2024 Total Funds 2023 Unrestricted funds Restrlcted funds INCOME AND ENDOWMENTS FROM: Donatlons and le8a¢le5 Charltable actlvltles Grants and tontracts receivable Client and Direct care Contrlbutions Notes 40,453 io,ocxJ 50,543 46,559 714,257 I,C64,544 9,799 434 I,464 814,721 1,064,544 9,799 434 808,956 656,367 2,711 435 Investments Others Totsl Income and endowments 1,829,487 110,464 1,939.951 1,515,028 EXPENDITURE ON: C051 of roisingfunds Ralsln8 Funds 129,7211 12121 129,9331 110,1661 Choritable ucrlvitles Care and Support Servlces Preventlon and Wellbein8 Servlces 11,000,810) 1667,7881 144,6101 196,2401 11,045,420) 1764,0281 1791,0921 1781,0271 Total resources expended 1¥698,3191 1141,0621 11.839.381) (lS2,Z85j Net Incomellexpendlturel 131,168 130.598) 100,570 167.2571 Transfers between lunds 14 137,1201 37.120 Net Ilncome/lexpendSture) belore other recognlsed 8alns and1055es 94.048 6,522 100,570 167,2571 Other recoqnlsed lalns Bnd1055es Actuarlal1105sl18ain on pen51on scheme 12 17,ocKsI 17,000 145,0001 Net movement In funds Reconclllatlon of funds 87.048 6,522 93.570 1112,2571 Total fund5 brought forward 493,788 30,145 523,933 636,190 Totsl funds carrSed forward 14 580.836 36,667 617,503 523,933 The notes from pa8e 22 onwards are an Integral parl of these flnancial statements. 19
AGE UK ENFIELD BALANCE SHEEr AS AT 31 MARCH 2024 Notes 2024 2023 FIXED ASSETS Tangible assets 10,975 10,975 4,158 4.158 CURRENT ASSETS Debtors io 140,901 132.002 348,643 621.S46 135,887 125.882 317,944 579,713 Short term deposlts Cash at bank and in hand Credltors: amount fallln8 due wlthln one year li 184,0181 1135,9381 NET CURRENT ASSETS 537,528 443,775 TOTAL A5SET5 LESS CURRENT LIABILITIES 548,503 69,¢)JO 447,933 76,0]0 Pen51on scheme asset 12 NET ASSETS 617,503 523,933 FUNDS Unrestrlcted funds 481,836 69,000 387,788 76,000 Penslon reseThe 12 $50,836 463,788 DeslBnated Funds Restricted funds 14 30,CQO 30,000 36,667 30,145 TOTAL FUNDS 14 617,503 523,933 The notes from page 23 onwards an Integral part of these flnanclal ststements. These financial statements were approved and authorlsed forlssue by the board of trusiees on 23 October 2024 and signed on Its behalf b Elaine Adkin Chalr Mlcha Treasurer Company Re815tratlon Number.. 3352062 IEn8land and Wale51 20
AGE UK ENFIELD Statement of Cash Flows for the year ending 31 March 2024 Note 2024 2023 Cash used In operating activltles: 15.1 Net cosh provided by operrjting octivities 35,871 1164,9221 Cash flows from Investlng activitles Interest income 9,799 13,1431 Tangible Fixed Assets 18,8511 1,556 Net cash used In Inve5tlns actlvlties 948 11,587) Increase {decreasel In cash and cash equlvalents In the year 36,819 166,5091 Cash and cash equlvalents at the be8lnnSn8 01 the year 15,2 443.826 610,335 Total cash and cash equlvalent$ at the end of the year 480,645 443,826 21
AGE UK ENFIELD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcles 1.1 Accounting conventlon The financial statements are prepared in accordance with the Statement of Recommended Practice.. Accounting and reporting by charities ISORP FRS 102 second edition effective l January 20191, applicable accounting standards and the Companies Act 2006. The financial statements are presented in Sterlin81£1. 1.2 Going Concern The SMT and current trustees have worked hard to secure income and manage expenditure and are confident about the charitvs viability in the near future and therefore consider that there are no material uncertainties about the Charity's ability to continue as a goin8 concern. 1.3 Donatlons Voluntary income is received by way of donatlons, legacies and gifts and is included In full in the SOFA when receivable. The value of services provided by volunteers has not been included in the accounts. 1.4 Grants, contrarts and other Income Grants and contracts are recognlsed Sn full in the SOFA when receivable. Other Incomlng resources are included in the SOFA when receivable. 1.5 Resources expended All expenditure is accounted for on an accruals basi5 and is inclusive of VAT. Expenditure has been cla55ified under activitie5 which allocate all costs related to the activity including the cost of mana8in8 and administering the activity. The cost of managing and administering the activity (support Costl 15 an indirect cost and is allocated to the activity based on direct service costs incurred on that activity. Governance costs include those c05tS a550ciated with meeting the constitutional and Statutory requirements of the charity and include audit fees and c05t5 linked to the strategic management of the charitv. 1.6 Fund accountlng Restricted funds are grants and contract5, donation5 and other Incoming resources, which are to be used for Specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund. In the event that following the completion of the Specific purpose for which the funds had been received there are fund5 remaining unspent, the original donor of the funds is contacted. Following discugsions with the donor the funds are returned. or with the donor's consent either retained and transferred to unrestricted fund5 or used for slmllar purposes on another project. Unrestrlcted funds are grants and contracts, donatlons and other incomin8 resource5 receivable for the objects of the charity without further specified purpose and are available as 8eneral funds. Oesi8nated funds are unrestricted fund5 earmarked by the trustees for specific purposes. 1.7 Flxed a55ets Fixed assets are stated at cost less accumulated depreciation. The cost of minor additions or those costing below £1,000 are not capitalised. Depreciation 15 provided at rate5 calculated to write off the cost of each asset, le55 Its estimated residual value, over the useful economic life of that asset as follows.. Furniture and other equipment.. 20Yo reducing balance 22
AGE UK ENFIELD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1.8 Operating leases Rentals payable under operating leases are charged to the SOFA as incurred over the terrn of the lease. 1.9 Penslon costs The company participates in the Age Concern section of the Age UK Retirement Benefits scheme, which is a multi-employer defined benefit scheme. The company also operates a defined contribution pension scheme. Both scheme5 are accounted for in accordance with FRS 102 and described in more detail in note 12. Income from donations and legacles Unrestricted funds Restrlcted funds Total 2024 Total 2023 Donatlons and gift aid donatlons Le8acies Membershlp fees 40,268 10,000 50,268 31,627 14,632 300 185 185 40,453 10,000 50,543 46,559 3 Income from charltable actlvitles Unre5trlcted tunds Restrlcted funds Total Z024 Total 2023 Grants & Contract5 UK Government lob Retention Scheme LB of Enfield-ICF, Workforce & Other grants Age UK-EON EDA-Information & Advice Project TFL and The London Marathon Trust Home from Hospital (Alpha Speclalists Ltd) Age UK London -cost of Living Grant Enfveld WelSbeing Network GVC Ladbrokes-men in Sheds L8 of Enfield-VCS Carer5 Outcome 2 licanl NHS- Falls Prevention, Dementla & Frailty 818 Lottery Fund - FSt for Llfe Community Barnet City Bridge Trust The Armed Forces Covenant Fund Trust Age UK Charlty- Emmanuel H05Pltal fund Other Fund5 13,533 37,190 12,141 21,840 2,850 6,838 2,667 2,667 13,616 10,737 1,950 13,616 10,737 1,950 40,000 39,709 40,000 39,709 9.989 280,175 226,616 37,720 7,374 266,833 226,617 4,280 10.500 48,438 33,957 9,845 6,500 9,989 280,175 226,616 10,500 10,5CAI 42,983 30,375 12,500 17,904 42,983 30,375 12,500 17,904 714,257 100,464 814,721 808.956 23
AGE UK ENFIELD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 3.1 Client and Dirett care contrlbutions Unrestrlcted funds Restricted funds Total 2024 Total 2023 Clients and Direct Care Contributions 1,064,544 1.064,544 656,367 1,064,544 1.064,544 656,367 3.2 Bank and Investment Interest Unrestrlcted funds Restricted funds Total 2024 Total 2023 ank interest 9,799 9,799 2,711 9,799 9,799 2,711 24
i
AGE UK ENFIELD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Net Income/ {expendlturel for the year 2024 2023 Net movement in fund5 IS stated after charging: Depreciation Auditors, remuneration Operating lea5es- equipment 2,034 8,750 10,185 2.577 8,100 8,996 Trustees, remunerètlon and relmbursed expenses The trustees recelved no remuneration durin8 the year12023: £nill Travel costs of £180 were rei mbursed to I trustee in the year12023'. £nlll 8 Staff costs and numbers Total 2024 Total 2023 Salaries and wa8es Social securitv Costs Pension contributions Pension Scheme recovery payments Temporary Staff cost5 1,179,220 79,906 28,791 43,248 29,711 950,040 65,081 22,679 43,248 90,336 Staff travel, tralning, recruitment & payroll processing costs 1,360,876 1,171,384 23.501 31.627 1,384,377 1.203,011 The average number of full and pèrt-time employees during the year were as follow5.. 2024 2023 Care and Support Services Prevention and Wellbeing Services Management, Finance and Administration 28 12 32 19 45 56 No employees recelved emoluments Df more than £60,000 per annum. Senior Management Per59nnel c05t5 of 8ross salary and employer5 national in5urante amounted tts £192,86612023'. £171,012). The Senior Management team 15 made up of.. Peter Glas5- ChSef Executlve Officer Venetta Hunt- Head of Care Services Kaya Taylor- Financial Director Alison Gordon- Head of Prevention SeNices 28
AGE UK ENFIELD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Tangible fixed assets Furniture and Equipment Cost At l April 2023 Additions 28,800 8,851 At 31 March 2024 37.651 Depreciation At l April 2023 Charge for the year 24,642 2.034 At 31 March 2024 26,676 Net bookvalue At 31 March 2024 10.975 At 31 March 2023 4,158 10 Debtors 2024 2023 Trade debtors Prepayment Other debtors Provislon for doubtful debts 105,473 21,421 15,172 110,319 15,436 ii,ioi 69 135 887 29
AGE UK ENFIELD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 11 Creditors". amounts falling due within one year 2024 2023 Trade creditors and accruals Other creditors Deferred Income 62,134 3,134 18,750 64,143 8,519 63,276 84,018 135,938 12 Penslon scheme The company participate5 in the A8e Concern sectlon of the Age UK Retirement Benefits scheme, whlch Is a multi- employer defined benefit scheme. The company also operates a defined contribution pension scheme. Further information about both schemes is below'.- Defined beneflt The disclosures below are provided in respect of the Age Concern Section of the Age UK Retirement Benefits Scheme in respect of A8e U K Enfield only I the Scheme") and presented in £OOO's in accordance with the actuarial note provided. The level of benefits provided by the Scherne depend5 on a memberfs length of service and their salary at their date of leaving the Scheme. This Section of the Scheme closed to future accrual on 30 November 2008. A full actuarial valuation of the Scheme was carried out as at 31 March 2022 and the results of this valuation have been updated to 31 March 2024 by a qualified independent actuary. The expected employer contributions for the year ending 31 March 2025 are £43,000. These contributions include an allowance for administration expenses and PPF levie5. The results of the latest f undin8 valuation at 31 March 2022 have been adjusted to the balance sheet date taking account of experience over the period Since 31 March 2022, changes in market conditions and differences in the financial and demographic assumptions. The present value of the defined benefit obligations was measured using the Projected Unit Method, The princlpal assumptlons used to calculate the liabilities under FRS102 are set OLAt below.. Maln flnanclal assumptlons: 31 March 2024 %pa 3.20 2.40 N/A 31 March 2023 %pa 3.25 2.45 NIA RPI Inflation CPI Inflation Rate of increase in Salaries Pension increase5 Rate of increase in payment of pre 2006 penslons Rate of increase in payment of post 2006 pensions Discount rate for scheme liabilities 3.70 2.05 4.90 3.70 2.10 4.85 30
AGE UK ENFIELD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Oefined benefit {contlnued) Main demographic assumptions: 2024 2023 100% of S3PMA basètablès C% of S3PMA base taNe$ for males ror matr& and 100% of and 100% of $3PFA M bast tarAè$ for S3PFA M basè table5 for fÈmai&s projected by year of knrth lemaleg proiecled by ytrarof assurrdng future Improvements in1Sne rth assuming fulure vAlh CMI 2022 proléctlon$ Iwilh mprovemenig in line wllh CMI paiameler$ Sk= 7.0, A= 0.25%. 2021 prolecNon$ lyAlh w20201w2021 = 0% and w2022- 25%1 parameters Sk= 7.0. A= and a long-lerm improvemenl r8le or 0.25% and w20201w2021 1.25% pa I) and a long-lerm fate of improvement of 1.25% pa Mortality Years Years 21.7 years lage 86.71 21.8 years lage 86.81 23.6 years lage 88.61 23.8 years la8e 88,81 23.0 years lage 88.01 23.1 years la8e 88.11 25.1 years lage 90.11 25.2 years la8e 90.21 Allowance has been made for Allowance ha5 been made all members to exchan8e 70Yo for all member5 to exchange of the maxlmum cash 80% of the maximum cash allowance avaSlable upon allowance avallable upon retirement. retirement. Life expectancy for male currently aged 65 Life expectancy for female currently a8ed 65 Llfe expectancy at 65 for male currently a8ed 45 Life expectancy at 65 for female currently a8ed 45 Cash commutatlon Scheme a55et allocatlon: 31 March 2024 £0005 183 62 169 805 43 1,262 31 March 2023 £OOOs 115 61 164 885 35 1,260 Equities Diversilied Growth Fund Property Gilts and Bonds Cash Total 14.5% 4.9% 13.4% 63.7% 3.5Yo 100.oyo 9.1% 4.8Yo 13.0% 70.2% 2.9Y ioo.o% None of the scheme's assets are Invested in the Employer's financial instruments or in property occupled by, or other assets used by the Employer. Reconclllatlon of lunded status to balance sheet: 31 March 2024 £OOOs 1,262 11,1931 69 69 31 March 2023 £OOOs 1,260 11,1841 76 76 Fair value of assets Present value of funded defined beneflt obligations Funded status Assetllliabilityl recognised on the balance sheet Present value of unfunded defined benefit obli8ations 31
AGE UK ENFIELD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Defined benefft {contlnued) Hlstory of experlence galns and losses: 2024 £'ooo 1,262 11,1931 2023 £'ooo 1,260 11,1841 Present value of scheme liabilitie5 Fair value of scheme assets Surplus/ Ideficitl in the scheme 69 76 Amounts recognlsed In Income statement 2024 £'(x)o 2023 £'ooo Operating cost.. Current service cost Administration expenses Past services cost Ilnc. Curtailments) Settlement cost Financlng Cost Interest on net defined benefit liabllltyllassetl Pension expense recognised In profit and loss Amounts recoKnlsed In Other Comprehen51ve Income {OCI) 2024 2023 £'ooo 16431 563 45 1351 Asset galns/llossesl arising during the year Liability gains/losses arising durin8 the year Change In the effect of the asset celllng Total amount recognised Sn OCI 1341 iioi 1371 32
AGE UK ENFIELD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Defined beneflt (continued) Changes to the present value of the dellned benefit obllgatlon during the year 2024 £'ooo 1,184 2023 É'ooo 1,764 Opening defined benefit obligation IDBOI Current seiCe cost Interest expense on DBO Contributions by Scheme members Actuarial Igainsl/losses on scheme liabilities Net benefits paid out Past service cost Ilnc. Curtailments) Net increase in liabilitles from disposals/acquisltlons Settlement5 Closin8 falr value of scheme assets 56 48 io 1571 15631 1651 1,193 1,184 Changes to the falr value of scheme assets during the year 2024 £'ooo 1,260 56 1341 43 2023 £'ooo 1,885 48 16431 43 Opening fair value of Scheme assets Interest Income on Scheme assets Gain/{10ssI on Scheme a55etS Contributions by the employer Contributions by Scheme members Net benefits paid out Adrninistration costs incurred Net increase in assets from di5posals/acquisitions Settlements Closing fair value of scheme assets 1571 161 1651 181 1,262 1,260 Actual return on Scheme assets 2024 £'ooo 56 1341 22 2023 £'ooo 48 16431 15951 Interest income on Scheme assets Gainlllossl on Scheme a55ets Actual return on Scheme assets Deflned contrlbutlon The assets of the defined contribution scheme are held separately from those of the company In an independently administered fund. The pension cost charge for this scheme represent5 contributions payable by the company to the fund {7%1 and amounted to £28,79112023.. £22,679) 33
AGE UK ENFIELD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Analysis of net assets between funds 2024 Unrestrlcted fund5 Re5trlEted funds Total Fund5 Tan8ible fixed assets Current assets 10,975 584,879 184,0181 69,000 10,975 621,546 184,0181 69,000 36,667 Current liabilities Defined bellefit pension a55et Net assets at 31 March 2024 580.836 36.667 617.503 Analysls of net assets between funds 2023 Unrestrlcted funds Restrlcted lunds Total Funds Tangible fixed a55et5 Current assets Current liabillties Defined benefit penslon asset 4,158 549.568 1135,9381 76,000 4,158 579,713 1135,9381 76,000 30,145 Net a55ets at 31 March 2022 493,788 30,145 523.933 34
AGE UK ENFIELD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 14 Statement offunds At l April 2023 At31 March 2024 Income Expenditure Transfers Unres ticted funds General fund Deslgnated funds Defined benefit pension asset 387,788 30,000 1,829,487 11,698,319) 137.1201 481,836 30,(M]O 76.000 493,788 17,0001 {1.705.319) Restrlcted funds Healthy Llvlng Servlces Digital Connectlons Flt for Life Carers Fltnes5 Group Care Support Servlces Community Support Servlces Day Care Servite Workforce fund Infection Control fund MCST Tackling Lonellness Men in Shed5 Informatlon 5ervlce5 1,829,487 69,(MJ) 580.836 137,120 44.933 150,8801 5,947 2,667 133,8401 31,173 10,565 2,592 2,523 3.940 10,565 8,931 2,523 6,728 10,000 13,6611 30,375 9,989 12,500 127,5871 19,9891 115,lOSI 10,525 7,920 Total restrlrted lunds 30,145 110,464 1141.0621 37,120 36.667 Totsl funds Unrestricted funds: {1,846,3811 617,503 The General fund repre5ent5 the unrestricted funds of the Charity that are not designated for particular purpose5. De51 nated funds: A deslgnated fund was created to meet potential upcoming liabilities attached to the management and maintenance of thc Parker centre once the lease with the local authoiity has been finalised. Restrlcted funds: rhe Carers Fltne5s Group funds encourage healthy lifestyles by glvSng respite to carers and Inspire them to be actlve. The Flt for Llle15 a series of exercise and fltness classes for people over 50 funded by the Clty Yrl(t8e Trust Fund. The Dlgltal Connection5 funds almed to address digltal excluslon amongst older people, particularly older people with dementia and Ihelr Carers. Community Support Servlce5 fund represent a combinatlon of grants received to help u5 piovide servlces of a preventative nature and to promote health and wellbeing. The Workforce Fund provlded by LBE helped us realised capacity to meet growing demand across the Care servlces durlnE the linancSal year. It funded extra hours and new post to SUPPOrt our cllent5 need. The Infectlon control fund wa5 used to pay for our PCR and natural flow testSn8 to mitldate the Infectlon risk of our vulnerable clients as well transport cost durlng the financial year. The MCSTErant wa5 to provide 2 sessions of cognitlve ttimulatlon therapy to people with dementba to reduce isolatlon and promote communication. 523.933 1.939,951 35
AGE UK ENFIELD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The Men in Sheds fund is an outreach program that creates a space for men to get together in shed, bulld. make and mend things. Information SÈrvlce5 fundlng was part of later Ilfe planning for people over 50 and thelr famllle5. covering a range of topic like making a will, power of atiorney and bereavement services. Tackling lonelines5 aim 15 to reduce social isolation and tackle loneliness In people that have served In the Armed For5. 36
AGE UK ENFIELD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 14 Statement of funds Icomparatlve) At31 March 2023 At l April 2022 Income Expendlture Transfer5 Unre5trlcted funds General fund Designated funds- IT 455.914 30,(O) 1,359,991 11,392,702) 135,4151 387,788 30,(XJO Deflned benefit penslon Ilabllity 121,000 606,914 145,0001 11.437,702 76,000 493,788 1,359,991 Restrlcted funds Healthy Llvln8 Servlces Digltal Connectlon5 Fit for Llfe Carer5 Fitness Group 44 1441 9,140 1,357 47.938 4,280 157,0791 111,4501 5,813 Care Support S•Nl¢es Community support Servlce5 Day Care Service 13,033 12,5CQ 140,5791 113,3591 23,006 859 Workforce fund 9,271 14,456 113,1611 10,565 Infectlon Control fund MCST Tackllng Lonellne55 Men In Sheds Information Service5 2,674 2,523 1,865 2,546 5,321 IS,4031 2,592 2,523 3,940 33,957 7.372 16,178 131,8821 111,0161 15,6541 1,097 10,525 Total restrlcted fundi 29,276 155.037 12189.5851 35,415 30,145 Totsl funds 636,199 1,515,028 {1,627,2851 523.933 37
AGE UK ENFIELD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 15 Statement of Cash Flows 15.1 Reconclliatlon of net Income/(expenditure) to net cash flow from operatlng actlvitles 2024 2023 Net incomellexpenditurel for the reportin8 period l?s per the statement of Ilnanclal activltlesl Adjustments for.. Depreciation char8es Dividends, interest and rents from investments Ilncreasel/decrease in debtors Increaselldecreasel in Creditors 100,570 167,2571 2,034 19,7991 15,0141 151,920} 2,577 (3,143} 133,6391 163,4601 Net cosh provlded by (used inj operating activlties 35,871 1164.9221 15,2 Analysls of cash and cash equlvalents 2024 2023 Cash in hand Notice dep051ts (les5 than 3 months) 348,643 132,002 317,944 125,882 Total cash and cash equivalen15 480,645 443,826 16 Related Party Transactlons There were no related party transactions in the current year, none in 2023. 38
AGE UK ENFIELD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 17 Comparative Sofa STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023 Unrestrfcted tund5 Total Funds 2023 Restrlcted funds INCOMING AND ENDOWMENT5 FROM: Donations and le8a¢ie5 Charltable actlvltle5 Grants and contracts receivable Client and Direct care Contrlbutions Investments Others Notes 46,559 46,559 653,919 656,367 2,711 435 155,037 808,956 656,367 2.711 435 Tot•1 Income and endowments 1,359,991 155,037 1,515,028 EXPENDITURE ON: Cost of rolsingfunds Ralsing Funds Choritable actlvitles Care and Support Servlces Preventlon and Wellbeing Services iio,iiii 1551 110,1661 1730,9611 1651,6301 160,1311 1129,3971 1791,0921 1781,0271 Total resources expended 11.39Z.7021 1189,5831 11,582,285) Net Income/lexpendlturel {32,711) 135,546) 167,2571 Transfers between funds 14 135,4151 35,415 Net (In¢omel(expendlturel before other rèco8nlsed galns and losses Other reco8nlsed galns and losses Actuarial Ilos$118aln on penslon Scheme (68,1261 869 167,2571 12 145,0001 145,0001 Net movement In funds Reconclllatlon of funds 1113,1261 869 1112.2571 Total fund5 brought forward 606,914 29,276 636,190 Total fund5 carrled forward 14 493,788 30.145 523.933 39
AGE UK ENFIELD ACKNOWLEDGEMENT We would like to thank the following funders for their support during 2023/24 that has enabled us to maintain our valuable well-established services, supported us to adapt those services to meet the challenges of the pandemic and increased client needs as well as develop new and innovative services to meet emerging needs. London Borough of Enfield Enfield Clinical Commissioning Group Age UK Age UK- MCST Programme Emmanuel Hospital Foundation City Bridge Trust The Armed Forces Covenant Trust Fund London Marathon Trust & Transport for London NHS Charities Together/Royal Free charity Long Covid & Digital Inclusion Tackling Poverty & Inequality North Central London Cancer Alliance/ LB Enfield I&A and Cancer Awareness 40