l EnField ageuK Annual Report 2024 / 2025 Age UK Enfield A Company Llmlted by Guarantee Trustee5' Report and Flnancial Statements For the year ended 31 March 2025 Company Reglstratlon Number 3352062 (England and Wales) Charity Registration Number 1063696 (England and Wales)
REFERENCE AND ADMINISTRATIVE INFORMATION Company reglstratlon number Charlty reglstration number Governing document 3352062 {England and Wales) 1063696 (England and Wales) Articles of Association Trustees Elaine Adkin Alison de Metz Beryl De Souza Nicola Hyde Nicolas Kee Mew Annie Smol (resigned 31 December 20241 Michael Zacharia Joseph Harley Mari Edwards {resi8ned 13 September 2024} Rachel Howard (appointed 5 August 20241 Matt Boucher {appolnted 16 Aril 2025) Aviva Trup {appointed 18 June 20251 Bahee Ponnappah (appointed 27 July 2025) Company Secretary Kaya Taylor (resigned 25 April 20241 Joy Watkins (appointed 7 May 2024) Senior Mana8ement team Peter Glass (resigned 30 August 2024) Lesley King Lewis {appointed 19 August 2024/ resigned 22 October 20251 Alison Carter Albert Venetta Hunt Joy Watklns Helen Oliver {appointed 15 September 2025} Re8lstered offlce Age UK Enfield John Jackson Llbrary 35 Agricola Place Bush Hill Park Enfleld ENI IDW Independent audltors Knox Cropper LLP Chartered Accountants 65 Leadenhall Street London EC3A 2AD Bankers Barclays Bank PIC 259 High Street Ponders End, Enfield EN3 4DS
CONTENTS Page Chairs, Introduction Trustees, report 2-14 Independent audltor's report 15-18 Statement of financial activities 19 Balance sheet 20 Statements of Cash Flows 21 Notes to the f inanclal statements 22 -38 Acknowled8ement 39
AGE UK ENFIELD Chalrs, Introduction The year started a5 the last ended with the economic environment placing continued pressure on the infrastructure and finances of both the NHS and Enfield Council. This in turn, placed continued growing demand for and on all our services, especially our Information and Advice Service. Despite this, we helped secure over £lmillion in welfare benefits and have provided advice to over 13,000 resident5 during the year. Similarly, demand for places at our Parker Day Centre, the only dementia day care centre in Enfield, was high. However, in this instance, funding issues around the repair of the lift prevented us from being able to respond. Despite this, the care and compa55ion shown by our wonderful Parker Centre team under difficult circumstances was exemplary- they think about the needs of our client5 and go out of their way to look after them, entertain them and make them laughl Our focus on finding an alternative location for the Centre- more of which later- is paramount. Significant efforts have improved the efficiency of our home care services while maintaining its high standards of care. We extended our outreach to untapped areas of the Borough, and this saw a noteworthy uptake of new clients to a service which is a major source of revenue for us. Our Prevention Services continued to deliver thelr carefully structured, practical and fun programme of activities and events improving the health and well-belng of Enfield's older communlty truly reflecting our mission to Improve their lives by ensuring they are valued, active, connected and able to live the life they choose. The Men In Sheds project never ceases to amaze- whatever the weather, they come and create itern5 such as planters, candle holders and even a bench among other things which produce much valued donations. There is a real camaraderie and obvious benefit and support among those attending. As touched upon, this year has seen discussions With Enfield Council commence on securing a lease for a new location the Rose Taylor Centre - for our dementia daycare service and we anticipate this will be concluded mid-summer in time for an Autumn move. We are indebted to Forster's who are providing much appreciated and valuable legal advice pro-bono. The year ahead will naturally also be focused on securing the necessary funding and contlnuing to maintaln the financial resilience for the move. Peter Glass our CEO resigned in August 2024, and Lesley Klng-Lewis joined us as our interim CEO. Hervast experience and commitment have been extraordinary, and the Board and I thank her. Similarly, none of this year's achievements would be possible without the amazing dedication and commitment of our people - staff and volunteers- thank you I In preparing this I was Struck by the thought thatthrough every challenge, ourfocus on people, those we serve and those we work alongside, has never wavered. I think that's quite arnazing and a great approach to take through to next year. Elaine Adkln, Chalr. Board of Trustees
AGE UK ENFIELD TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 Charitws mission and purpose The trustees present their report and financial statements of the charity for the year ended 31 March 2025. 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,) are speciflcally 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 orientatlon or religious belief: l. Preventing or relieving the poverty of older people 2. Advancing education for older people 3. Preventing or relieving sickness, disease or sufferlng in older people (whether emotional, mental or physical} 4. Promoting equality and diversity in relatlon 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 Governing document The organisation is a charitable 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 objetts 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 2025 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. Actlvlties & Achlevements Age UK Enfield's services are organised in two categories: Prevention and Wellbeing Services, and Care and Support Services. As an organi5ation we continue to work hard to ensure there are clear pathways and referr31 routes across our services, streamlining to ensure a 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 working, improving our technology to better enable home working, being flexible and taking Innovative and creative approaches to the ever-changing range of guidelines and requlrements that we follow. Age UK Enfield provides the following servlces: Preventlon and Wellbeing Serv5ces Falls prevention Memory service Frailty services ican Enfield Wellbeing Network Later Life Planning Information and Advice Digital Inclusion Men's Sheds Fit for life Care and Support Services Home care Day care Home from Hospital
AGE UK ENFIELD TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 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. Referrals to Fall Stop Service are consistent with the previous yearfs trends, with 196 people referred, we are still exceeding our target. Our Falls Lead has worked hard to develop a good relationship with community therapies and St Michaels. Demand to attend the classes is high. We increased our classes in Q4 from 6 a week to 7 across three locations. We have continued to develop Movement as Medicine taster sessions delivered within Albany Leisure Centre and developed a new Strength Training class. The number of attendees increased again during 24125 with 4,330 attendances. There appears to be a consistent trend of people wanting to improve their strength, coordination, and balance. People attending also appear to want to make this a habit and stay on beyond the 12-week sessions. It was a seamless experience,. we called the main number and were told Sophie would contact us. She booked an appointment for an assessment, and we agreed Mum would attend St Peter's as closest to her. Sophie also helped u5 Wlth acce55ing Dial a Ride to get mum out and obout. Mum loves Walter's closses and her newfriends Memory Service Referrals for post diagnostic dementia support are consistent and reflect the local picture. In 2024/2025 392 Enfield residents were referred for support. Partnership work with Enfield Memory Service remains good and we have continued to attend Cognitive Stimulation Therapy (CST) groups to meet new patients. Our staff members have attended training to deliver CST, and we are workin8 on a proposal to deliver maintenance CST within the community In 2024/25 888 individuals attended Memory Meet Up sessions. The fortnightly sessions are incredibly popular and well attended and we offer a range of dementia-friendly activities and guest speakers from across the sector. We have increased our speakers from dementia research projects and technological offers this year. People have also benefited from attending group outings and strengthened their supportive networks -1 cannot f8ult the service AUKE has provided. I was referred by Enfield Memory Service 8nd then contacted by Sophia, who visited us at home. Sophia invited us to attend both Social Singing and Memory Meet Up where we h8ve met morepeople with dementla and theircarers. which has been helpful"
AGE UK ENFIELD TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Frallty Service In 2024/25 we received 524 referrals for Health & Wellbeing services. The demand on services remain5 con5iStent. People sought help to relieve pressure of rising costs. Referra15 are made from a variety of sources including Social Prescribers, health profe55ionals 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 conditions. Our sustained funding increase has enabled us to continue our work at North Middlesex Care of the Elderly wards. During 2024125 our team of navigators worked with 213 people. Throughout 2024/25 we continued to deliver Social Singing, delivering 12 sessions to 520 people. We ended the year on a high, with The Big Choir delivering the final session to over 60 attendees. There is an even split of genders attending the session, with a high proportion of people attending who identify as carers for their family members. ican ican service is a consortium led by Age UK Enfield with Attend, Alpha Care and Enfield Carers Centre. We provide one to one support to adults over 18 to help them understand health condition5 and how to live well independently within the community. In 2024/25, we received 685 referrals for one-to-one support with a navigator. A further 1,915 people attended our monthly group activities. This was our final year of delivering this service. We delivered 5 large public events between April 2024 and March 2025 and had 538 people attending. ican has been an Incredibly successful project which has developed long lasting partnerships with other community groups and or8anisations. 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. 202412025 wa5 the final full year of delivering with the contract ending in May 2025. We supported 206 people with one-to-one support and held 32 events that encourage people to improve nutrition, live on food budget, creative writing, and journalling. As well as the popular monthly Menopause Meet Up we developed a Men's Wellbeing group at Pymmes Park.
AGE UK ENFIELD TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Planning for Later Life For people over 50 and their families, ourfree 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. 2024/25 was our final year of delivering this as part of the London Borough of Enfield contract led by Community Barnet, we have continued to incorporate Later Life Planning into all our services and talks at public events. The Later Life Adviser also saw 62 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 continue to work hard to sustain our Quality Assurance Standard IQASI and Advice Standard Qualification. It is to be noted that only AUKE and Citizens Advice Enfield hold these qualifications and was recognised during the retendering process. In 2024/25, 3,012 people contacted AUKE for advice through customer services, with over 7,800 contacts made to help resolve their enquiries. 644 people received ongoing IA complex case support from our services. In 2024/25 we raised £1,063,836.85 for local residents in welfare benefits with the support of our team. Digital Inclusion There was no funding during 2024/25 for this service, so we developed a new initiative to manage interest in digital inclusion, whilst applying for funding. From September Digital Champions delivered Tech Tuesdays at Dugdale Centre as part of a new offer. Our Digital Champions saw 26 individuals for one-to-one sUPPOrt at Dugdale. We also delivered awareness at ICAN event to 120 participants, with a survey scoping needs and planning actions. Men's Sheds We were funded by North London Waste Authority during 202412025. Sheds continue to encourage participants to learn new skills and create items from recycled materials. We
AGE UK ENFIELD TRUSTEES REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 celebrated our 2nd Birthday and invited friends and family members to attend where we had 50 people join us. Throughout the year we held 100 sessions with 1,306 people attending. Amongst our projects we created planters and a bench for Eco House in Edmonton and raised income from hosting two stalls in Enfield Charter Market. Flt for Llfe The City Bridge Trust funded the Fit for Life {FFL} projett provide5 a series of exercise and fitness classes for people over 50. Classes take 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 21 group exercise classes, from beginners to intermediates. We also offer 6 weekly walks in town and country parks and a monthly quiz. Our popular summer cycling project in Bush Hill Park, funded by Groundwork London and TFL, continued with record numbers. In total, we had 12,557 attendances at classes, walks and cycling sessions. Care and Support Services Our Care Servlces provide sustained support for vulnerable individuals wlthln the Borough, dellverlng long-term, regular assistance. Day Care The Parker Centre, located in Edmonton, functions as a specialist day care facility for Individuals aged 50 and over who are living with dementia at various stages. Attendees participate in a variety of organised activities, such as reminiscence sessions, chair-based exercises, arts and crafts, among others. The centre ensures the provision of nutritious, freshly prepared meals and refreshments throughout the day. In the 2024125 period, 110 people attended the day centre, resulting in 8,984 total visits, 7,578 hot meals served, and 6.450 return transportjourneys provided. During December, we hosted two Chrlstmas events for clients and their families, each attended by 80 8ue5ts. Additional ongoing activities included biweekly sesslons with Jazanne Arts and Chicken Shed, as well as weekly seated exercise, yoga, and hip hop exercise classes. Furthermore, excursions to Lee Valley White Water Centre offered opportunities for clients to experience outdoor environments, which was greatly enjoyed by both clients and staff. Plans are in place to further facilitate access to green spaces in the coming year.
AGE UK ENFIELD TRUSTEES REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Home Care and Home from Hospltal Home Care delivers a comprehensive suite of sen4ices within individuals, homes, empowering them to maintain independent living. These services encompass stimulating activities. personal care, medication assistance. accompaniment to appointments, shopping arrangements, respite care for carers, various household tasks, and social outings. Over the past year, there was a strategic focus on expanding service hours. We 5UPPOrted 113 individuals through our home care programme, providing a total of 15,271 hours of care, which includes 386 hours under the Home from Hospital service-representing a doubling of service delivery compared to the previous twelve months.
AGE UK ENFIELD TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 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 members of the Board are elected to senie 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 purpose of company law and Trustees of the Charity for the purp05e5 of charity law. In accordance with the Articles, the Board consists of a minimum of five trustees and a 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 {Vice Chair and Treasurer) are appointed by the Board from amongst the trustees in accordance with the Article5. The Board meets approximately every three months to review the financial position of the charity, its funding, operational performance and major risks and mitigating actions. The Board also 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. Member5 of the Board who served during the financial year and up to the date of approval of the annual report were as follows: Director / Trustee Elaine Adkin Nicola Hyde Nicolas Kee Mew Ali50n de Metz Anne Smol Beryl De Souza Michael Zacharia Mari Clwyd Edwards Joseph Daniel Harley Rachel Howard Matt Boucher Aviva Trup Bahee Ponnappah Appointment Date 08/12/2020 08/12/2021 26105/2021 08/1212021 26/0512021 16/0212017 0811212021 19107/2023 26/04/2023 05/0812024 16/0412025 18/0612025 2710712025 Reslgnatlon Date 3111212024 13/0912024
AGE UK ENFIELD TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Attendance at Board meetings during the year to 31 March 2025 Director / Trustee Number Board meetinES attended (4 In year) 4/4 414 3/4 414 212 3/4 4/4 1/1 314 213 Elaine Adkin Nicola Hyde Nicolas Kee Mew Alison de Metz Anne Smol Beryl De Souza Michael Zacharia Mari Clwyd Edwards Joseph Daniel Harlev Rachel Howard Governance The Board ensures that the composition and the breadth of experience are sufficient for it to discharge it5 responsibilities. To these ends the Board regularly reviews its composition and where nece55ary identifies suitable people to strengthen its skills and experience. Induction Prospective trustees are invited to meet the Chair, designated Trustees and the Chief Executive for informal interviews. At these interviews the duties and responsibilities of trustees, and the amount of commitmentto the organisation required are fully discussed and suitable literature is provided to them. If the prospective trustee is approved by the designated Trustees and Chair they are invited to attend a Board meeting, before a flnal decision is made by the individual and the Board, Tralnin8 Each joining trustee is allocated a mentor and furnished with an induction pack. This includes several documents which are listed below and include the responsibilities and dutie5 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 descriptions 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. io
AGE UK ENFIELD TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The Charity also operates internal training and all Trustees are required to complete a series of training modules. Training records are held that details courses completed and dates. Financial Review Total incoming resources were £1,981,904 {2024: £1,939,951) for the year and expenditure amounted to £1,972,672 (2024: £1.839,381) resulting in a net surplus of £9,232. There was an actuarial ("below the line") surplus on the final salary pension scheme of £94,000. 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. Significant Contracts The Charity has significant contractual relationships with the London Borough of Enfield Social Services and Enfield Clinical Commlsslonlng Group which provide a significant proportion of the Charity's funding. Contract income of £613,781 was received in the year ended 31 March 2025 to support the provision of services for older people. Reserves Pollry As of 31 March 2025, the charity held free reserves of £419,080. Free reserves are unrestricted general funds not tied up in fixed a55ets, 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 requires three to six months reserves to cover income volatility and short-term working capital requirements, meaning minimum reserves of £450,000. The current resepie5 are in line with that target. Investment Pollcy Funds not immediately required by the charity for Its charitable activities are invested in short term interest yieldin8 bank deposit accounts at the prevailing market rates of interest. li
AGE UK ENFIELD TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Risk Management The Board regularly review5 the risks to the organisation, ensuring proper systems and procedures are in place to manage these risks. Key risks considered during the year include: Premises arran ements Risk assessments were regularly undertaken of The Parker Centre to ensure the safety of both client5 and our staff. There were a number of area5 which have raised concern during the year including the lift not being in operation and the risk to staff having to climb stairs whilst carrying hot food. The Centre has outlived its purpose and discussions are in play regarding the leasing of a purpose-built day centre which we hope to have completed by late Summer of 2025. There are also plans In place for the closure of a number of libraries in the borough. The John Jackson library, from where we run a number of services, is one of them. The plan is to move staff from the library to the purpose built day care centre. Inabilit to enerate sufflclent income to meet our ob"ectives and dellver our services We continue to explore opportunities to diversify our income and consider all relevant opportunities to generate income that will further our objectives. Shortly after the end of the financial year our contracts with Enfield Council for the provision of Prevention Services will end. We are working on retendering as lead provider on one contract and as a subcontractor on a second contract. We believe we will be successful in both. The Board has also recognised that we need to develop fundraising as part of our business model and we are exploring ways to generate income from fundraising activity. Insufficient reserves to withstand a downturn in activit Whilst we have improved our overall reserves position over the course of the financial year, our unrestricted reserves balance has reduced as we have designated some funds for relocation. We always aim to maintain a level of reserves consistent with our Reserves Policy, but this remains a challenge in the current operating environment. The need to move to new premises will also put additional pressure on c05t5. 12
AGE UK ENFIELD TRUSTEES REPORT ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Plans for Future Periods The current organisational strategy from 2022 up to 2025 was extended last year. We are currently recruiting for a new Chief Executive and one of their key tasks will be to develop a new 3-year strategy from April 2026. In the meantime, the plan to move to our new premises provides scope to increase capacity and income from our day care service and provides opportunities for hiring out rooms and delivering other activities. We are also increasing marketing of our home care services. Golng Concern The financial trend has been positive with increased income during the reporting period, and a recorded a surplus. Therefore, after reviewing 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 it5 financial Statements. Trustees. responslbllltles In relatlon to the flnancial 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 Standard5 (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, includlng income and expenditure, of the charitable company for that period. In preparing these accounts, the trustees are requlred to: select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charitie5 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 Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable 5tep5 for the prevention and detection of fraud and other irregularities. 13
AGE UK ENFIELD TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 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 dlsclosure 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 with preparing their report, of which the charit$ auditor is unaware. and the trustees having made enquiries of fellow directors and the charit$ 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 themselves aware of any relevant audit information and to establish that the audltor Is aware of that Information. This report has been prepared in accordance wlth the provlslons In Part 15 of the Companies Act 2006 applicable to companies subject to the small companies, regime. By order of the Board of Trustees Elaine Adkin Chalr of Trustees 26 November 2025 14
AGE UK ENFIELD INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OFAGE UK ENFIELD Oplnlon We have audited the financial statements of Age UK Enfield {the 'charitable companV} for the year ended 31 March 2025 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 Finoncial 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 2025 and of its income and expenditure for the year then ended. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance wlth the requirements of the Companies Act 2006. Basis for opinlon We conducted our audit in accordance wlth International Standards on Auditing (UK} IISAS (UK)) and applicable law. Our responsibilities under those standard5 are further described in the Auditor's respon5ibilitie5 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 relating 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) The other information comprises the information included in the annual report, other than the financial statements and our auditor's 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. Other Informatlon Our responsibility is to read the other information and, in doing so, consider whetherthe 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 mlsstatement of this other information, we are required to report that fact. We have nothlng to report In thls regard. Oplnlons on other matters prescribed by the Companles 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, forthe 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 whlch we are required to report by exceptlon 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 relatlon 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, remuneration specified by law are not made; or we have not received all the information and explanations we require for our audit. or the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies, exemptions 16
AGE UK ENFIELD INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF AGE UK ENFIELD in preparing the trustees, report and from the requirement to prepare a strategic report. 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 company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. Audltor's responslbllltles for the audlt of the flnanclal statements Our objectlves are to obtain reasonable assurance about whether the financlal statements as 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 responslbllitles, outlined above, to detect material misstatements In respect of irregularities, including fraud. The extent to whlch our procedures are capable of detecting irregularities, including fraud is detailed below: The Charitable Company is required to comply with both company law and charity law and, based on our knowledge of it5 activities, we identified that the legal requirement to accurately account for restricted funds was of key significance. We gained an understanding of how the charitable company complied with its legal and regulatory framework, including the requirement to properly account for restricted funds, through discussions with management and a review of the documented policies, procedures and controls. The audit team, which is experienced in the audit of charities, considered the charitable company's susceptibility to material misstatement and how fraud may occur. Our considerations included the risk of management override. 17
AGE UK ENFIELD INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF AGE UK ENFIELD Our approach was to check that all restricted income was properly identified and separately accounted for and to ensure that only valid and appropriate expenditure was charged to restricted funds. This included reviewing journal adjustments and unusual transactions. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.or auditorsres onsibilities. This description forms part of our auditor's report. Use of our report This report is made solely to the charitable companV5 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 mlght state to the charitable company's members those matters we are required to state to them In an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report or for the opinions we have formed. 17112125 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 AcfiviTIES INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Total Funds 2025 Total Funds 2024 Unrestrlcted funds Re5trlrt•d lund5 INCOME ANO ENDOWMENTS FROM.. Donatlons and leia¢les Charftable actlvltles Grants and contracts recelvable Cllent and Dlrect care Contrlbution5 Fundraising Investments Other5 Notes 83,037 10,000 93,037 50.543 687,912 1.100,239 894 11,762 185 87,875 775,787 1,100,239 894 11,762 185 814,721 1,064.544 9,799 434 Total Incoffl• and endowments 1,884,029 97,875 1,981,904 1,939,951 EXPENDITURE ON: Cost of raisAngfunds Ralsing Funds 120,2721 120,2721 129,9331 Chorittsble uctlvltles Cère and support Service5 Preventlon and Wellbelng Service5 11,128,523) 1694,9541 150.0771 178,8461 11,178,600) 1773,8001 11,045.4201 1764,0281 Totsl resource5 expended {1.749) 1128,9231 11,972,672) 11,839,381) Net Sncomel(expendlturel 40,280 131,0481 9,132 loo70 Transfers between funds 14 127,3561 27,356 Net Ilncomellexpendlturel before other recognlsed Kalns and losses 12,924 13,6921 9,232 100,570 Other reco8n15ed galns •nd losJe$ Actuarial11055llgaln on pensSon scheme 12 94,000 94,(Y)D 17,0001 Net movement In funds Reconclllatlon of funds 106.924 13,6921 103,232 93,750 Total funds brought forward 580,836 36,667 617,503 523,933 Total funds carrled l*)nvard 14 687,760 32,975 720,735 617,503 The notes from page 22 onwards are an Integral part of these flnanclal statements. 19
AGE UK ENFIELD BALANCE SHEET AS AT 31 MARCH 2025 Notes 2025 2024 FIXED ASSEf5 Tan8ible assets 13.935 10.975 13,935 10.975 CURRENT ASSETS Debtor5 io 150,349 138,541 372.014 660,904 140,901 132,002 348,643 621Y6 Short term dep051ts Cash at bank and In hand Creditors: amount falllng due wlthln one year li 1117,1041 184,0181 NET CURRENT ASSETS 543AOO 537,528 TOTAL ASSETS LE55 CURRENT LIA81LITIES 557,735 548.503 Penslon stheme asset 12 163.000 69,000 NET ASSETS 720,735 617,503 FUNDS Unrestricted funds 433,015 163,000 481,836 69,000 Penslon reserve 12 596,015 550,836 Deslgnated Fund$ Re5trlcted funds 14 91,745 32,975 36,667 TOTAL FUNDS 14 720,735 617,503 The note5 from page 22 onwards are an inte8ral part of these flnanclal ststements. These financial statements were approved and authorlsed for Issue by the board of trustees on 26 November 2025 and signed on Its behalf by-_ Elaine Adkin Chair charl3 Treasurer Company Registration Number: 3352062 IEngland and Wales) 20
AGE UK ENFIELD Statement of Cash Flows for the year endlng 31 March 2025 Note 2025 2024 Cash used in operating activities: 15.1 Net Ccsh provided by operating ortivities 24.438 35,871 Cash flows from inve5tlng actlvities Interest income Tangible Flxed Assets 11.762 16,2901 9,799 18,8511 Net cosh used in investlnq actlvltles 5.472 Increase (decrease) In cash and Cash equlvalents In the year 29,910 36,819 Cash and cash equlvalents at the beglnnlng of the year 15.2 480.645 443,826 Total cash and cash equlvalents at the end of the year 510,555 480,645 21
AGE UK ENFIELD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 l Accounting policies 1.1 Accounting convention The financial statement5 are prepared In accordance with the Statement of Recommended Practlce.. Accounting and reporting by chorities ISORP FR5 102 second edition effective l January 20191. applicable accounting standard5 and the Companie5 Act 2006. The financial statement5 are presented in Sterlin81£1. l.Z Golng Concern The SMT and current trustees have worked hard to secure income and manage expendlture and are confldent about the charity's viablllty in the near future and therefore consider that there are no material uncertainties about the Charity's ablllty to continue a5 a going concern. 1.3 Donatlons Voluntary income Is recelved by way of donations, 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. contracts and other Income Grants and contracts are recognised In full In the SOFA when recelvable. Other Incomlng resources are included In the SOFA when recelvable. 1.5 Resources expended All expenditure is accounted for on an accrua15 basi5 and is inclusive of VAT. Expenditure ha5 been classifled under actlvlties which allocate all cost5 related to the activity includin8 the c05t of managing and administering the actlvltv. The cost of mana8ing and administerin8 the activity (support costl Is an indirect cost and is allocated to the activity based on direct service costs incurred on that activitv. Governance costs include those costs assoclated wlth meetlng the constitutional and statutory requirements of the charity and include audlt fees and costs Ilnked to the strategic management of the charity. 1.6 Fund ac¢ountln8 Restricted funds are grants and contracts, donation5 and other incoming resources, whlch are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria 15 charged to the fund. In the event that followlng the completlon of the speclfic purpose for whlch the funds had been received there are funds remaining unspent, the original donor of the funds Is contacted. Followlng discussions with the donor the fund5 are returned, or with the donor's consent either retalned and transferred to unrestrlcted funds or used for similar purposes on another project. Unrestricted funds are grants and contracts, donations and other incoming resources recelvable for the object5 of the charity without further specified purpose and are available as general funds. De518nated funds are unrestricted funds earmarked by the trustees for specific purposes. 1.7 Flxed assets Fixed assets are stated at cost less accumulated depreciation. The cost of minor additlons or those c05ting below £1,000 are not capitallsed. Depreciation is provided at rates calculated to write off the cost of each asset, less its estimated residual value, over the useful economic life of that asset as follows.. Furniture and other equlpment: 20% reduclng balance 22
AGE UK ENFIELD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 1.8 Operatlng leases Rentals payable under operatlng leases are charged to the SOFA as incurred over the term 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 contributlon pension scheme. Both schemes are accounted for In accordance with FRS 102 and described in more detail in note 12. 2 Income from donatlons and legacles Unrestrlcted funds Restricted funds Total 2025 Total 2024 Donation5 and 81ft ald donatlons Legacles Membership fees 32,877 50,000 160 10,000 42,877 50,000 160 50,268 185 83.037 10,000 93,037 50.543 3 Income from charltable actlvltle$ Unrestrl¢ted funds R•strlcted nds Total 2025 rotal 2024 Grants & Contracts LB of Enfleld -ICF, Workforce & Other grants A8e UK-EON EDA-Informatlon & Advice Prolect Groundwork London Age UK London -C05t of Llvin8 Grant Enfleld Wellbelng Network GVC Ladbrokes-men in Sheds LB of Enfleld-VCS Carers Outcome 2 (Icanl NHS- Falls Prevention, Oementla & Frallty Community 8arnet Clty Brldge Trust The Armed Forces Covenant Fund Trust A8e UK Charlty- Emmanuel Hospltal fund Other Funds 2,667 13,616 10,737 1,950 40,( 39,709 9,989 280,175 226,616 10.500 42,983 30,375 12,5L 17,904 12,500 26,660 12,SC4) 26,660 5,000 5,000 46.391 46.391 280,175 301,616 10,501 280,175 301,616 10.501 55,500 soo 9,375 55,500 500 9,375 10,069 687,912 87,875 775,787 814.721 23
AGE UK ENFIELD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 3.1 aient and Dlrect care contrlbutlons Unrestrlcted funds Restrlcted funds Total 2025 Total 2024 Clients and Direct Care Contrlbutlon5 1,100,239 1,100,239 1.065,544 1,100,239 1,100,239 1,065.544 3.2 Other actlvltles Unrestrlcted funds Restrlrted funds Total 2025 Total 2024 Fundralslng 894 894 894 894 Bank and Investment Interest Unrestrlcted fund5 Restrlcted funds Total 2025 Total 2024 Bank interest 11,762 11.762 11,762 11,762 9,799 9,799 24
AGE UK ENFIELD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Net In¢omel (expenditure) for the year 2025 2024 Net movement in fund51s stated after charging: Depre¢iation Auditor5, remuneration Operatlng leases- equlpment 3.329 9.450 10,941 2,034 8,750 10,185 7 Trustees, remuneratlon and relmbursed expense$ The trustees received no remuneratlon during the year12024: £nlll Expenses amounting to £77 were reimbursed to I trustee in the year12024.' £1801 Staff costs and numbers Total 2025 Total 2024 Salaries and wages Social securlty Costs Pension contributlons Pension Scheme recovery payments Temporary Staff costs 1,248,733 87,280 32,457 43.248 35,722 1,179,220 79,906 28,791 43,248 29.711 1,447,440 1,360,876 Staff travel, trainln8, recruitment & payroll processln8 osts 36,675 23,501 1,484,115 1,384,377 The average number of full and part-tlme employees durlng the year were as follows,. 2025 2024 Care and Support Services Prevention and Wellbeing Service5 Management, Finance and Adminlstratlon 27 12 28 12 44 45 No employees received emoluments of more than £60,000 per annum. Senior Management Personnel costs of Bross salary and employers, national insurance amounted to £177,59012024: £192,866). In the period the Interim CEO was pard £41,025 under and Interlm contract. The Senlor Management team Is made up of.. Peter Gla5s- Chief Executive Officer IAe5igned AuEUSt 20241 Le51ey King Lewls- Interlm Chief Executive Officer (appointed AuBu5t 20241 Venetta Hunt- Head of Care Service5 Ali50n Carter Albert- Head of Preventlon 5ervice5 Kaya Taylor- Finance Director (Resigned AprS120241 Jo¥ Watklns- Flnance Oirector IAppointed May 20241 28
AGE UK ENFIELD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Tanglble flxed assets Furniture and Equipment Cost At l April 2024 Addltlons 37,651 6,289 At 31 March 2025 43.940 Depreclatlon At l April 2024 Charge for the year 26,676 3.329 At 31 March 2025 30,005 Net bookvalue At 31 March 2025 13,935 At 31 March 2024 10,975 10 Debtor5 2025 2024 Trade debtors Prepayment Other debtors Provislon for doubtful debts 116,256 20,992 13,969 868 105,473 21,421 15,172 150 349 140 901 29
AGE UK ENFIELD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 11 Credltors: amounts falling due wlthln one year 2025 2024 Trade creditors and accruals Other credltors Deferred Income Bank overdraft 78,790 62,134 3.134 18,750 37,250 1,064 117,104 84,018 12 Penslon scheme The company partlclpates in the Age Concern sectlon of the Age UK Retlrement Beneflts scheme, whlch Is a multl- employer deflned beneflt scheme. The company also operates a deflned contrlbution penslon scheme. Further Information about both schemes is below'.- Deflned benefit The disclosures below are provided in respect of the A8e Concern Section of the Age UK Retirement Benefit5 Scheme in respect of Age UK Enfield only I'the Scheme") and presented in £00S in accordance with the actuarial note provSded. The level of beneflts provided by the Scheme depend5 on a memberfs length of servlce and their salary at thelr date of leaving the scheme. Thls Sectlon 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 thi5 valuation have been updated to 31 March 2025 by a qualified independent actuary. The expected employer contributlons for the year endln8 31 March 2026 are £43,000. These contributlons Include an allowance for adminlstratlon expenses and PPF levies. The results of the latest funding valuatlon at 31 March 2022 have been adjusted to the balance Sheet date taklng account of experience over the period since 31 March 2022. changes In market conditions and differences in the financial and demo8raphic assumptions. The present value of the defined benefit obligation5 was measured usin8 the Projected Unit Method. The prlnclpal assumptlons used to calculate the Ilabilities under FR5102 are set out below.. Maln flnanclal assumptions: 31 March 2025 %pa 3.10 2.30 NIA 31 March 2024 %pa 3.20 2.40 NIA RPI Inflation CPI Inflatlon Rate of increase in salaries Pension increases Rate of increase in payment of pre 2006 pensions Rate of increase in payment of post 26 pensions Discount rate for Scheme liabilities 3.60 3.70 2.05 4.90 5.80 30
AGE UK ENFIELD NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Defined benefit (continued) Maln demo8raphic assumptions: 2025 2024 100% of S3PMA base tabl95 lor males and 100% Df S3PFA b8se tables for fom8195 projeGled by yearof blrth assumlno future improvem8nl8 In Iln8 wllh CMI 2023 prol8cllons Iwlth p8ram8lers Sk= 7.0. A= 0.25Yo. w20201w2021 0% and w20221w2023 = 15%) and a long-tertn improvement rate of 1.25% pa 100% of S3PMA basB t8ble8 for males nd 100% ofS3PFA M ba88 18bles lor 1oryTrales wojectsd by y8ar of birth assuming future Improvem6n15 In line wlth CMI 2022 projections Iwllh par8m8ter8 Sk= 7.0, A. 0.25% and w20201w2021 00) and 8 long-lerm Impro>vement rate ofl.25%p Mortality Years 21.7 years {age 86.71 23.7 years la8e 88.71 23.0 years lage 88.01 25.1 years la8e 90.11 Allowance ha5 been made for all members to exchange 70% ofthe maximum cash allowance available upon retirement, Years 21,7 years lage 86.71 23.6 years lage 88.61 23.0 years lage 88.01 25.1 years lage 90.11 Allowance has been made for all members to exchange 70% ofthe maximum cash allowance available upon retlrement. Life expectancy for male currently a8ed 65 Llfe expectancy for female currently aged 65 Llfe expectancy at 65 for male currently aged 45 Llfe expectancy at 65 for female currently aged 45 Cash commutatlon Scheme a55et allocation At 31 March 2025 At 31 March 2024 £OOOs £OOOs Equitles 116 183 14.5 Diversified growth fund Matchin8 assets/bonds Infrastructure Cash Total 62 69.9 63.7 175 71 14.5 169 13.4 43 1,262 1,205 loo loo None of the scheme's assets are invested In the Employerfs financlal instruments or In property occupied by, or other assets used by the Employer. Reconclllatlon of funded status to balance sheet: 31 March 2025 £OOOs 1,205 11,0421 163 31 March 2024 Fair value of assets Present value of funded defined benefit obligations Funded status 1,262 11,1931 69 31
AGE UK ENFIELD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Asset/lliabilityl recoEnised on the balance sheet Present value of unfunded defined benefit obligations Defined benefft (contlnued) Deflned benefft Icontlnuedl Hlstory of experlence 8alns and105se5: 2025 E'ooo 1,205 {1,0421 2024 Present value of Scheme liabilities Fair value of scheme assets 1,262 11,193) Surplus/ Ideficitl in the scheme 163 69 Amount$ recognlsed In Income statement 2025 £'ooo 2024 £'ooo Operating c05t'. Current Service cost Admln15tration expenses Past services cost Ilnc. Curtailmentsl Settlement cost Financlng c05t . Interest on net defined benefit liabllltylla5setl Pension expense recognised in profit and Ios5 Amounts recognlsed In Other Comprehenslve Income (OCI) 2025 £'ooo 1911 149 1941 1361 2024 £'ooo {341 iioi Asset gainslllosses) arislnB durin8 the year Liability gainsllosses arising durln8 the year Change in the effect of the asset ceiling Total amount recognlsed In OCI 1371 32
AGE UK ENFIELD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Defined beneflt (contlnued) Change5 to the present value of tho defined benellt obli8atlon durlng the year 2025 £'ooo 1,193 2024 £'ooo 1,184 Opening defined benefit obligation IDBOI Current service cost Interest expense on DBO Contrlbutlons by Scheme members Actuarial Igainsl/losses on scheme Ilabllltles Net benefits paid out Past service c05t Ilnc. Curtallments) Net increase In liabilities from disposalslacquisitions Settlements Closing fair value of scheme assets 57 56 11491 1591 io 1571 1,042 1,193 Chan8esto the falr value of scheme assets durfngthe year 2025 £'ooo 1,262 57 1911 43 2024 £'ooo 1,260 56 1341 43 Openlng fair value of Scheme a55ets Interest Income on Scheme as5etS Galnlllossl on Scheme asset5 Contribution5 by the employer Contributions by Scheme members Net benefits paid out Admlnlstratlon costs Incurred Net Increase in a55ets from disposalslacqulsltlons Settlements Closing falr value of scheme assets 159) 171 157) 16} 1,205 1,262 Actual return on scheme a55ets 2025 £'ooo 57 1911 1341 2024 £'ooo 56 1341 1221 Interest income on scheme assets Gainlllossl on Scheme assets Actual return on Scheme assets Deflned contrlbutlon The assets of the defined contribution scheme are held separately from those of the company In an independentSv administered fund. The pension cost charge for thls scheme represents contributions payable by the company to the fund 17%) and amounted to £32,45712024: £28,791} 33
AGE UK ENFIELD NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 13 Analysis of net assets between funds 2025 Unrestrlcted funds Restricted funds Total Funds Tangible flxed assets Current assets Current Ilabillties Defined benefit pen51on asset 13,935 627,929 1117,104) 163,000 13,935 660,904 {117,1041 163.000 32.975 Net a55ets at 31 March 2025 687,760 32,975 720,735 Analysls of net assets between funds 2024 Unrestrlcted funds Restrlcted funds Total Funds Tangible flxed assets Current assets Current liabilities Defined benefit penslon a55et 10,975 584,879 184,018) 69,000 10,975 621.546 184,0181 69.000 36,667 Net assets at 31 March 2024 580,836 36,667 617,503 34
AGE UK ENFIELD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 14 Statement of funds At31 March 2025 At l Aprll 2024 Income Expendlture Transfer5 Unrestrlrted fund5 General fund Deslgnated funds Deflned benefit penslon a55et 481,386 30,C 1,822,284 61,745 11,843,749) 127,3561 433.015 91,745 69,000 580,836 94,000 1,978,029 163,000 687.760 11,843,749) 127,356) Restrkted funds Healthy Llvln8 Servl¢e5 Flt for Life 60.500 163,1991 2,699 Carn Support Servicès Community support Servlces Day Care Service Workforce fund Infectlon Control fund MCST Tackllng Loneliness Men In Sheds Information Servlces 30,961 130,9611 10,565 8,931 2,523 6,728 10,565 8,931 2,523 7,228 500 17,500 9.375 10,0 119,1161 19,3751 16,2721 1,616 17,9201 7,920 Enfield Dementia Network 3,728 Total rellrlcted funds 36,667 97,875 1128,9131 27,356 3Z,975 Total funds 617.503 2,075,904 11,972,672> 720,735 Unrestrirted funds: The General fund represents the unrestrlcted funds of the Charlty that are not designated for particular purposes and are freely available to use Desl nated funds: A de51gnated fund was created to meet potentlal upcomln8 liabilitles attached to the management and malntenance of the Parker centre once the lease with the local authority has been finalised. Further transfer5 were made in the year to provide for refurbishment work on a new buildin8. Restrlcted funds: The Flt for Llfe is a serles of exercise and fitness classes for people over 50 funded primarily by the City Bridge Trust Fund. Communlty Support Servlce5 fund represent a combination of grants received to help us provide services of a preventative nature and to promote health and wellbeing. The Workforce Fund provided by L8E helped us realised capaclty to meet growing demand acr055 the Care servlces during the financial year. It funded extra hours and new post to support our clients need. The Infectlon tontrol fund was used to pay for our PCR and natural flow testing to mltlgate the infection risk of our vulnerable clients as well transport cost durlng the financial year. The MCST grant was to provide 2 session5 of cognitive stimulation therapy to people with dementia to reduce isolation nd promote communlcation. The Men In Sheds fund Is an outreach program that treates a space for men to get together In sheds, bulld, make and mend thlngs. Information Servlces funding wa5 part of later life planning for people over 50 and their farnilie5, coverin8 a range of 155ue5 like making a wlll. power of attorney and bereavement services. Tackling loneliness alm Is to reduce Social i501atlon and tackle loneliness In people that have served In the Armed Force5. 35
AGE UK ENFIELD NOTES TO THE FINANCIAL STATEMENT5 (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 14 Statement of fvnds (¢omparatlve) At31 March 2024 At l Aprll 2023 Income Expendlture Transfers Unrestrfrted funds General fund Deslgnated funds- IT Deflned benefit pension Ilablllty 387,788 30,000 1,829.487 11,698.3191 137,1201 481,836 30,0 76.000 493,788 17,OLKII {1,70S,3191 69,000 580,836 1,829,487 137.120) Restrfcted funds Healthy LSvlng Ser¥lces Digital Connection5 FSt for Llfe Carers Fltness Group 44.933 150,8801 5,947 Car• Support Servlces Communlty support SÈrvl¢es Day Care Service 2,667 133.8401 31,173 Workforce fund 10.565 10,565 Infectlon Control fund MCST Tackling Lonellness Men in Sheds Informatlon Servlces 2,592 2,523 3.940 10,000 13,6611 8,931 2,523 6,728 30,375 9,989 12.500 127.5871 19,9891 115.1051 10,525 7,920 Tot•1 restrlct•d fund• 30,145 110.464 1141.0621 37,120 36,667 Total funds 523.933 1,939,951 11,846,181 617,503 36
AGE UK ENFIELD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 IS Statement of Cash Flows Is.1 Reconciliatlon of net Income/(expendlture) to net cash flow from operating artlvltles 2025 2024 Net Incomellexpenditurel for the reporting perlodlos per the Statement of flnanclal actlvitlesl Adjustments for: Depreciation charges Dividend5, interest and rents from Investments Ilncreasel/decrease in debtors Increase/ldecreasel In Credltors 9,232 100.570 3,329 111,7621 19,4471 33,086 2,034 19,7991 15,0141 151.9201 Net cosh provlded by fused In) operotlng octlvities 24,438 35,871 15.2 Analysls of cash and cash equlvalents 2025 2024 Cash In hand Notlce deposlts Iless than 3 month51 372,014 138,541 348.643 132,002 Tot?1 cash and cash equlvalents 510,555 480,645 16 Related Party Transactlons There were no related party transactlons In the current year, none In 2024. 37
AGE UK ENFIELD NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 17 Comparative Sofa STATEMENT OF FINANCIAL AcfiviTIES INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestrlrted funds Restrlcted funds Total Funds 2024 INCOMING AND ENDOWMENTS FROM: Donatlons and le8acles Charltable actlvltles Grants and contracts recelvable Cllent and Direct care Contrlbutlons Investments Oth•r5 Note5 40,453 io,0¢) 50,453 714,257 1.064,544 9,799 434 100,464 814,721 1,064,544 9.799 434 Total Incom• and endowmenti 1,829,487 110,464 1,939,951 EXPENDITURE ON: CcJ5t of ro151ngfund5 Ralsln8 Funds Choritoble actlvlties Care and Support Servlces Preventlon and WellbeSng Servlce5 129.7211 12121 129,9331 11,OOJ,8101 1667,7881 144,6101 196,2401 11,045.4201 1764,0281 Total resources expended (1,6983191 1141.062 I139,381} Nel Incomellexpendlturel 131,168 130,598) loo70 Transfers between funds 14 137,1201 37,120 Net Ilncom•/{expendlturel beft*re other feco8nl$•d g•lns Jnd losses Other recoinb5ed galns and losse5 Actuarial Ilossllgaln on pensSon scheme 94,048 6,522 100,570 12 17.0001 17,0001 Net mwement In lunds Reconclllatlon of funds 87,048 6,522 93,570 Total funds brought forward 493.788 30,145 523.933 Total funds Carrled forward 14 580W6 36,667 617,S03 38
AGE UK ENFIELD ACKNOWLEDGEMENT We would like to thank the following funders for their support during 2024125 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 Commissionin8 Group Age UK Natlonal Emmanuel Hospltal Foundation City Brid8e Trust NHS Charities Together/Royal Free charity The Mabs Mardulyn Foundation North Central London ICB Groundworks 39