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2021-03-31-accounts

COMPANY REGISTRATION NUMBER: 03783205 CHARITY REGISTRATION NUMBER: 1077097

Age Concern Norfolk Operating as Age UK Norfolk Company Limited by Guarantee Financial statements

31 March 2021

Age Concern Norfolk Operating as Age UK Norfolk

Company Limited by Guarantee

Financial statements

Year ended 31 March 2021

Page
Trustees' annual report (incorporating the directors' report) 1
Independent auditor's report to the members 14
Statement of financial activities (including income and expenditure account) 19
Balance sheet 20
Statement of cash flows 21
Notes to the financial statements 22

Age Concern Norfolk Operating as Age UK Norfolk

Company Limited by Guarantee

Trustees' annual report (incorporating the directors' report) (continued)

Year ended 31 March 2021

Introduction from the Chair and Chief Executive

It has been a very difficult and challenging year for the charity. With such uncertainty surrounding the pandemic we were faced with a range of decisions to safeguard the future sustainability of the charity. We transferred our staff to home working and moved our offices into the Elms, our business space for hire and in December we made the decision to close our furniture and more store in Kings Lynn.

We could not have achieved this without the support of our staff and volunteers. As ever and particularly this year we are immensely proud of our achievements and of our staff and volunteers in maintaining our services to older people in Norfolk. We want to pay tribute to the determination, dedication and generosity displayed by our extraordinary team who have operated undeterred for so many months in such exceptional circumstances. Our sincere thanks go to all.

Our thanks also go to our supporters, including local groups and individuals who fundraised for us understanding the urgency of providing funding to enable us to focus on the needs of our beneficiaries during this unprecedented time.

Whilst, this year has been challenging, it has also been a period of innovation. With funding from the Big Lottery, we were able to bring forward our plans to develop our IT infrastructure and move to cloud based ways of working. We also commenced an e-commerce pilot, to broaden our retail customer base and provide additional income without the need to increase our shop space.

Our core information, advice and advocacy services quickly adapted to new ways of working and have continued to provide vital support to older people.

In direct response to the loneliness experienced by so many older people, we increased the capacity of our telephone befriending service and developed our on-line training to support the many volunteers that came forward to help. By utilising the specialist skills of our staff we were also able to provide bereavement support to those who sadly lost loved ones.

The pandemic has highlighted the advantages of virtual means for staying in touch and has thrown into sharp focus the issue of digital exclusion, particularly the exclusion faced by older people.

In order to assist our beneficiaries to develop their digital skills we launched Let’s Get Digital to provide one-to-one remote teaching for people over 50 on how to use a tablet or iPad and the loan of a device for a 12 -week period. In addition, with the closure of many attendance-based groups and clubs across the county, we launched a new on-line platform, engAge, in November 2020 in partnership with age UK Norwich. The platform shares details of online activities and resources including social meet ups and physical activities and also offline activities when safe to do so.

Looking to the future we will maintain our focus on our four strategic priority areas; Informing and Advising, Supporting and Enabling, Maintaining and Developing and Listening and Consulting.

We will seek to secure our information, advice and advocacy services, seek funding to maintain and develop our focus on digital inclusion and to resume our plans to develop Age Friendly Communities. We will also endeavour to continue and enhance our income generation opportunities and resume our commitment to campaigning and awareness raising.

Stephen Drake (Chair) & Hilary MacDonald MA (Chief Executive Officer)

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Age Concern Norfolk Operating as Age UK Norfolk

Company Limited by Guarantee

Trustees' annual report (incorporating the directors' report) (continued)

Year ended 31 March 2021

Reference and administrative details

Registered charity name Age Concern Norfolk Operating as Age UK Norfolk Charity registration number 1077097 Company registration number 03783205 Principal office and registered Henderson Business Centre office 51 Ivy Road Norwich Norfolk NR5 8BF

The trustees

The trustees who served during the year and at the date of approval were as follows:

Stephen Drake (Chair from 01 April 2021) Surjait Singh (Vice Chair) David Stonehouse (Treasurer - appointed 27 November 2020) Roy Dickinson Anni Hartley-Walder Graham Robinson Rachel Buxton (appointed 26 March 2021) Meryl Smith (appointed 26 March 2021) Jeffrey Prosser (Chair - resigned 31 March 2021) Maria Brett (Treasurer - resigned 03 November 2020) Paul Slyfield (resigned 05 November 2020) Judith Wildig (resigned 08 August 2020) Finance Sub-Committee David Stonehouse (Chair) Stephen Drake Graham Robinson Meryl Smith Governance Sub-Committee Stephen Drake (Chair) Roy Dickinson Surjait Singh Anni Hartley-Walder Rachel Buxton Senior Management Team Hilary MacDonald MA (Chief Executive Officer) Victoria Aitken (Head of Operations) Auditor Lovewell Blake LLP Chartered accountants & statutory auditor Bankside 300 Peachman Way Broadland Business Park Norwich NR7 0LB Solicitor Bates Wells 10 Queens St Place London EC4R 1BE

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Age Concern Norfolk Operating as Age UK Norfolk

Company Limited by Guarantee

Trustees' annual report (incorporating the directors' report) (continued)

Year ended 31 March 2021

The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 March 2021.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and Companies Act 2006 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019.

Objectives and activities

On 16th April 2010 the organisation changed its operating name to Age UK Norfolk whilst retaining its legal name of Age Concern Norfolk. Consequently, all references in the accounts stating the company's operating name also infer the company's legal name.

What we do

We are a local independent Norfolk charity.

We have over 70 years' experience of providing essential services to older people across the county of Norfolk. Our Services include:

We are a member of the Age UK Network - a strong partnership of independent Age UK charities across the country.

Independence and partnership are important to us:

With the help and generosity of our supports we raise our own funds.

Strategic Framework

Each year, Trustees and managers review our strategic framework to ensure that our strategy is relevant for the needs of our beneficiaries and the environment we operate in and that our mission, values and priorities are appropriately aligned.

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Age Concern Norfolk Operating as Age UK Norfolk

Company Limited by Guarantee

Trustees' annual report (incorporating the directors' report) (continued)

Year ended 31 March 2021

The framework brings together our mission and our values that drive our strategic objectives and priorities:

Our Mission is to make Norfolk a great place to grow older.

Our Values are

Our Strategic Priorities

Our strategic plan identified four priority areas for 2020/21

  1. Informing and Advising - Helping older people to make informed choices and remain independent;

  2. Supporting and Enabling - Improving the health and wellbeing of older people;

  3. Maintaining and Developing - Ensuring our sustainability;

  4. Listening and Consulting - Valuing the contribution that older people make.

In identifying our strategic priorities we have considered the following factors:

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Age Concern Norfolk Operating as Age UK Norfolk

Company Limited by Guarantee

Trustees' annual report (incorporating the directors' report) (continued)

Year ended 31 March 2021

Public Benefit

In setting our strategic priorities and planning activities for the year, the Trustees have complied with their duty in section 17 of the Charities Act 2011 in paying paid due regard to the Charity Commission's guidance on public benefit in deciding which activities the Charity should undertake.

The public benefit of the Charity is as set out in our objects, to promote the relief of older people and in our mission to make Norfolk a great place to grow older. Our key charitable activities - information, advice and advocacy and telephone befriending benefit thousands of older people and their families and carers across Norfolk each year. All these activities are provided free of charge and are available to all older people in Norfolk.

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Age Concern Norfolk Operating as Age UK Norfolk

Company Limited by Guarantee

Trustees' annual report (incorporating the directors' report) (continued)

Year ended 31 March 2021

Achievements and performance

Informing and Advising

Last year we said we would:

We have achieved 966 Benefit appointments, despite the restrictions of the Covid-19 pandemic. This has resulted in us identifying and obtaining £3,666,738 in benefit take-up for older people.

We have received 8,643 calls to our Advice Line with Benefits, Community Care and Covid-19 being the top three enquiry topics.

We received 162 referrals to our Care Navigation service with the majority coming from Community Matrons. This service has seen a sharp rise in complex cases as Covid-19 restrictions have eased.

We received 211 referrals to our Living Well Connector service which formed part of the wider social prescribing service in Norfolk. This service covered the Breckland area, where 87% of the referrals were received from The Breckland Alliance GP practices. Referrals became more complex since Covid-19, with clients needing multiple support channels to enable them to move forward.

Supporting and Enabling

Last year we said we would:

We supported 360 people with our Telephone Befriending Service. Our service grew by 32% during the period as a result of increased loneliness during the pandemic.

We supported an average of 91 clients per month with our Money Matters and Advocacy service, receiving 183 referrals during the period. During the pandemic these services have been delivered remotely.

We delivered a joint project with Age UK Norwich to develop a new on-line resource, engAge, that holds details of activities and events of interest to older people across Norfolk. This has mainly been on-line and will become a community resource as face-to-face services re-open.

We launched a new Digital Inclusion project, Let's Get Digital, to support older people to get on-line. This service is aimed at those with no experience providing assistance with the first steps of using a digital device and accessing the internet.

We assisted 28 clients with our NHS complaints service. The demand was low due to the extreme pressures on the NHS and public awareness of these resulting in less appetite for complaints.

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Age Concern Norfolk Operating as Age UK Norfolk

Company Limited by Guarantee

Trustees' annual report (incorporating the directors' report) (continued)

Year ended 31 March 2021

Maintaining and Developing

Last year we said we would:

We achieved £103,590 in retail sales income over the periods we were permitted to open our stores. During periods of lockdown we received £84,192 of government funded retail and leisure grants, including the Covid Job Retention Scheme.

We achieved £339,606 in fundraised income in the period, including £256,582 in legacy income. Other significant grants include:

Age UK Emergency Covid monies - £20k Age UK TAM Exit, Lottery and partner payment - £56k Significant donor - £12k General donations, including service recipients - £28k

The health and safety of our staff and volunteers has been of utmost importance throughout the pandemic. We acted quickly to transfer our office-based staff and volunteers to home working, investing in digital and developing our IT infrastructure. As restrictions ease, we continue to consult with our retail and advice line staff teams with regard to returning to face-to-face working.

We have continued our commitment to quality by developing new monitoring and reporting processes and have developed online training sessions for new staff and volunteers.

Consulting and Involving

Last year we said we would:

Despite the pandemic hindering the development of our consulting and involving activities, we were able to involve a number of our current service users in the design of our new digital services and we have continued to promote volunteering opportunities with many older people willing to share their knowledge and experience by volunteering for our services. As we emerge from the pandemic our focus will return on involving older people in campaigning and awareness raising.

Our Staff and Volunteers

We recognise that our most important resource is our staff and volunteers, and we are committed to employee and volunteer engagement and learning and development. We have 35 members of staff and 511 volunteers.

Our volunteers get involved across the organisation, providing information and advice and telephone befriending. Volunteers also help us to fundraise, sort, prepare and sell donated goods in our charity shops and undertake vital administrative tasks. The success and efficiency of our services rely upon volunteers, many of whom are older people who generously donate their time, expertise and compassion to help others. We have had 511 volunteers over the year who have donated over 7,541 hours during the year.

The Annual Review for the year ended 31 March 2021 is available on the Age UK Norfolk website www.ageuknorfolk.org.uk.

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Age Concern Norfolk Operating as Age UK Norfolk

Company Limited by Guarantee

Trustees' annual report (incorporating the directors' report) (continued)

Year ended 31 March 2021

Financial review

Principal funding sources

Total income for the Charity for the year was £1,200,104. The main components of this income were service contract income of £306,445 (25.1%); income from goods and services of £(3,734) (0.3%) and charity shops trading income of £103,590 (8.5%).

Age UK Norfolk received grants and contracts from a number of sources in 2020/21, including:

Other funding sources included:

Reserves policy

The Trustees remain committed to a free reserves policy that the charity holds unrestricted funds (excluding those funds represented by fixed assets) sufficient to cover 3 months of current operating expenses, our long-term liabilities and the cost of potential redundancy payments in the event that the charity were to be wound up.

The level of free reserves currently required by this policy is £465,855 (3 months operating costs £221,967, £170,888 long term liability to Norfolk Pension Fund and potential redundancy payments of £73,000). As at 31 March 2021, the charity had unrestricted funds (excluding those funds represented by fixed assets) of £547,783 (2020: £339,694). Designated funds as at 31 March 2020 totalled £1,000 (2020: £1,000) and restricted funds totalled £134,407 (2020: £42,787).

Going Concern

The charity continues to hold sufficient operating cash at bank and in hand as unrestricted funds.

Following the curtailment of planned income generation activities during lockdown and the uncertainty surrounding the pandemic the charity's financial forecasts for 2021-22 have been reduced accordingly. Actions taken by Trustees to mitigate the negative impact of Covid-19 on the charity's finances have included, placing retail and commercial staff on furlough during lockdown, closing a retail outlet, piloting e-commerce, re-negotiating lease arrangements and moving the charity's offices to smaller premises.

In order to assess the appropriateness of the going concern assumption basis, the Trustees have considered the charity's financial position, reserves and revised forecasts for the foreseeable future. They have considered the assumptions underlying those forecasts and the impact of the potential risks affecting them, including Covid-19. Having made those enquiries, the Trustees are confident that the charity will be able to meet its liabilities as they fall due for at least 12 months from the date of signing this report.

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Age Concern Norfolk Operating as Age UK Norfolk

Company Limited by Guarantee

Trustees' annual report (incorporating the directors' report) (continued)

Year ended 31 March 2021

Plans for future periods

We will retain our focus on our four strategic priority areas for a further year.

Structure, governance and management

Constitution

The company is limited by guarantee and is a registered charity. The organisation was established in May 1947 and in 1999 became a charitable company. The Memorandum of Association establishes the objects and powers of the charitable company and the organisation 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.

The object of the charity is to promote the relief of elderly people in any manner which now or hereinafter may be deemed by law to be charitable in and around the county of Norfolk.

In April 2019, members of the Norfolk Council on Ageing (at that time the formal membership body of Age UK Norfolk) were invited to take part in a review of the charity's governance framework with the objective of developing a new framework commensurate with the size and structure of the charity. The review was led by a working group made up of five members of the Norfolk Council on Ageing, including the Chair of Age UK Norfolk and the Chief Executive. The working group, in close consultation with the wider membership developed proposals to change and simplify the constitution to one where Trustees are the only members. Consent from the Charity Commission for changes to the Articles was obtained in January 2020 and the new Articles of Association setting out the new governance framework were subsequently agreed by special resolution at the Norfolk Council on Ageing Meeting January 2020. Revised terms of reference for the Norfolk Council on Ageing were also agreed at the meeting.

Associate Membership

The Trustees are permitted to establish such classes of associate membership as they choose provided that no associate members are made members of the charity for the purposes of the Articles or the Companies Act. Associate members do not have the right to attend or vote at members' meetings.

In accordance with the Articles, a class of associate membership has been established for the Norfolk Council on Ageing. This maintains the strong relationship that has been formed over many years between organisations and individuals with an interest in issues concerning older people.

The Norfolk Council on Ageing promotes and supports the work of Age UK Norfolk; it provides a platform for discussion, debate and campaigning with regard to issues relating to older people and a channel for consultation and feedback and the development of Age UK Norfolk services.

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Age Concern Norfolk Operating as Age UK Norfolk

Company Limited by Guarantee

Trustees' annual report (incorporating the directors' report) (continued)

Year ended 31 March 2021

Appointment and Election of Trustees

The management of the charity is the responsibility of the Trustees who are appointed and co-opted under the terms of the governing document. The Trustees who served during the year are shown on page 1.

The Directors of the company are also charity Trustees for the purposes of charity law. Under the requirements of the Articles of Association no more than nine persons can be appointed as Trustees. Appointed Trustees are permitted to serve two three year terms. Only in exceptional circumstances and by a resolution passed by three-quarters of the Trustees can the maximum term of office requirement for a particular Trustee be amended. Additional Trustees can be co-opted to bring specific skills and experience as required, provided that co-opted Trustees total no more than one third of Trustees at any one time.

In accordance with the Articles, an Annual Retirement Meeting will be held to mark Trustees' terms of office. This is defined in the Articles as being the meeting of Trustees at which the accounts of the charity are adopted.

Induction and Training of Trustees

A Trustee's Information Folder has been put together and includes all relevant documents. These include the latest audited accounts and Annual Report, copies of the Memorandum and Articles of Association, list of the Trustees, Standing Orders (including Trustees Code of Conduct and Agreement, Conflict of Interest Policy and Procedures and Schedule of Delegation of Board Authority), Age UK Norfolk's Risk Register, Equality and Diversity Policy, Financial Management Procedures Policy, organisational structure, authorised signatories, Strategic Plan, information leaflets about the services of the organisation and the CC3 booklet "The Essential Trustee: What you need to know".

An induction programme is provided with visits to all Age UK Norfolk sites and meetings with the Chief Executive and the Chair. An annual meeting of the Board is used to confirm the roles and responsibilities of the Trustees.

Organisation and Management

The Board of Trustees is responsible for the management of the charity. The Board meets regularly throughout the year and can consist of up to 9 elected members including 3 honorary officers. The Board may also co-opt up to three additional Trustees.

A Chief Executive is appointed by the Trustees to manage the day-to-day operations of the charity. There is a management team of six including the Chief Executive.

The Board of Trustees receives reports from the Finance Sub-Committee and the Governance Sub-Committee and the Chief Executive and the Head of Operations.

The Finance Sub-Committee has specific terms of reference and functions delegated by the Board. It has a Chair appointed by the Board and meets regularly throughout the year. The Sub-Committee is responsible for establishing, monitoring and reviewing the charity's strategic financial plans and advising the Board of Trustees on progress in achieving financial targets. In addition, the Finance Sub-Committee is responsible for advising the Board of Trustees on budgets, financial management and control, reserves, investments and monitoring of financial risks and is also responsible for advising the Board on IT strategy and expenditure. The Chief Executive and other members of the management team attend as required.

The Governance Sub-Committee has specific terms of reference and functions delegated by the Board. It has a Chair appointed by the Board and meets regularly throughout the year. The Sub-Committee is responsible for advising the Board of Trustees on governance of the charity including succession planning ensuring the Board have the right mix of skills, experience, qualities and knowledge, policies and procedures, risk management, human resources, health and safety, quality standards and legal compliance. The Chief Executive and other members of the management team attend as required.

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Age Concern Norfolk Operating as Age UK Norfolk

Company Limited by Guarantee

Trustees' annual report (incorporating the directors' report) (continued)

Year ended 31 March 2021

Risk Management

The Governance Sub-Committee leads the development of the risk management process. During the year Trustees monitor and review the risks to which the charity is exposed. The Board and each Sub-Committee are assigned risks from the risk register to monitor throughout the year. Senior Managers review key strategic and operational risks on a regular basis and provide regular monitoring reports to the Board and to the Board's Sub-Committees. Trustees undertake consideration of the monitoring reports, progress on mitigating actions and new and emerging risks deciding upon any mitigating action that is required and agreeing target dates.

The key risk facing the charity is considered to be government cuts to local authority funding and its impact on contracted services. The Trustees are also mindful of the uncertain economic environment brought about by Covid-19 and the unpredictability of voluntary income. In order to mitigate this risk, the charity is continuing to develop independent income streams including the piloting of e-commerce and to maintain applications to grant making institutions.

Age UK Norfolk has an organisation-wide business and continuity disaster recovery plan to protect the delivery of services to our beneficiaries.

Pay Policy

Each year the Board of Trustees will examine information regarding cost-of-living increases, Living Wage and demands being placed upon salary expenditure. This takes account of any overspends, reviews of individual salaries and absence costs. Based upon this information the Trustees will make a decision regarding the changes necessary to the salary budgets to ensure all costs can be met.

The remuneration of the Chief Executive and Senior Managers is reviewed by the Board of Trustees.

Related Parties and Co-operation with other organisations

Apart from those transactions mentioned in the related parties note within the accounts, no related party transactions were reported in the current year.

Age UK Norfolk has one subsidiary, Age UK Norfolk Limited, a dormant company. Age Concern Norfolk (Trading), formerly a dormant company was dissolved Age Concern Across Norfolk (Trading), jointly owned with Age UK Norwich was also dissolved during the year.

Age UK Norfolk entered into a Brand Partnership Agreement with the national charity Age UK in 2010. The Brand Partnership Agreement is set out in a legal document defining brand partnership arrangements including a licence agreement that sets out the use of the Age UK brand. Age UK Norfolk cooperates with other Brand Partners. The agreement is currently under review and is to be renewed as at 1st April 2022.

Age UK Norfolk is a member of the Age England Association, an association of autonomous charities comprising all local Age UKs in England and the national charity Age UK. Age UK Norfolk has a nominated Trustee appointed by the Board of Trustees who represents Age UK Norfolk at Age UK Eastern Region Meetings.

The Chief Executive of Age UK Norfolk is a director of the Age England Association a company incorporated in April 2011 that provides networking and collaboration opportunities between Age UK and Age UK Brand Partners, Age Concerns in the Friends Network and other organisations in associate membership and to provide a mechanism for these organisations to work together for mutual benefit and to carry out or support any other activities intended to further the interests of the Members or Associate Members that are intended to improve later life.

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Age Concern Norfolk Operating as Age UK Norfolk

Company Limited by Guarantee

Trustees' annual report (incorporating the directors' report) (continued)

Year ended 31 March 2021

We are a prominent member of the advice network in Norfolk and are a Steering Group member of the Norfolk Community Advice Network (NCAN). This group is made up of various charities across the region and we work together to ensure advice is available to the right people at the right time, with 'no wrong front door'. We work together to provide a referral system, collaborate on funding bids and this year we reacted to the pandemic by assisting Norfolk County Council with some urgent work for individuals in need.

Our Approach to Fundraising

We have a Fundraising Policy providing clear guidance for our staff and volunteers. We welcome donations from individual and corporate supporters and provide guidance for supporters wishing to fundraise on our behalf. Due to the nature of our charitable work and objectives, in particular our safeguarding policies and work around protecting older people in their homes, we do not undertake any fundraising door-to-door activity or cold call people for fundraising purposes neither do we ask for direct debit donations on the street. We are registered with the Fundraising Regulator and as such abide by the Code of Fundraising Practice and commit to upholding the Fundraising Promise. During the 12 months review period we received no fundraising complaints.

Trustees' responsibilities statement

The trustees (who are also directors for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company for that period.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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Age Concern Norfolk Operating as Age UK Norfolk

Company Limited by Guarantee

Trustees' annual report (incorporating the directors' report) (continued)

Year ended 31 March 2021

Auditor

Each of the persons who is a trustee at the date of approval of this report confirms that:

The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.

Small company provisions

This report has been prepared taking advantage of the small companies' exemption of section 415A of the Companies Act 2006.

The trustees' annual report was approved on 21 September 2021 and signed on behalf of the board of trustees by:

Stephen Drake Chair

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Age Concern Norfolk Operating as Age UK Norfolk

Company Limited by Guarantee

Independent auditor's report to the members of Age Concern Norfolk Operating as Age UK Norfolk

Year ended 31 March 2021

Opinion

We have audited the financial statements of Age Concern Norfolk Operating as Age UK Norfolk (the 'charity') for the year ended 31 March 2021 which comprise the statement of financial activities (including income and expenditure account), balance sheet, statement of cash flows and the related notes, 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 FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity'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.

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Age Concern Norfolk Operating as Age UK Norfolk

Company Limited by Guarantee

Independent auditor's report to the members of Age Concern Norfolk Operating as Age UK Norfolk (continued)

Year ended 31 March 2021

Other information

The other information comprises the information included in the trustees annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in 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:

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Age Concern Norfolk Operating as Age UK Norfolk

Company Limited by Guarantee

Independent auditor's report to the members of Age Concern Norfolk Operating as Age UK Norfolk (continued)

Year ended 31 March 2021

Responsibilities of trustees

As explained more fully in the trustees' responsibilities statement, the trustees (who are also the directors 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 charity'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 charity or to cease operations, or have no realistic alternative but to do so.

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Age Concern Norfolk Operating as Age UK Norfolk

Company Limited by Guarantee

Independent auditor's report to the members of Age Concern Norfolk Operating as Age UK Norfolk (continued)

Year ended 31 March 2021

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In addition to discussions with the client regarding the potential areas for irregularities and non compliance the following tests were also performed;

In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory framework that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act and Employment law.

As a result of performing the above, we did not identify any key audit matters related to the potential risk of fraud or non-compliance with laws and regulations.

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

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Age Concern Norfolk Operating as Age UK Norfolk

Company Limited by Guarantee

Independent auditor's report to the members of Age Concern Norfolk Operating as Age UK Norfolk (continued)

Year ended 31 March 2021

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

Use of our report

This report is made solely to the charity'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 charity'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 charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed.

Mark Proctor FCA DChA (Senior Statutory Auditor)

For and on behalf of Lovewell Blake LLP Chartered accountants & statutory auditor Bankside 300 Peachman Way Broadland Business Park Norwich NR7 0LB

14 October 2021

- 18 -

Age Concern Norfolk Operating as Age UK Norfolk

Company Limited by Guarantee

Statement of financial activities (including income and expenditure account)

Year ended 31 March 2021

2021 2020
Unrestricted Restricted
funds funds Total funds Total funds
Note £ £ £ £
Income and endowments
Donations and legacies 5 298,106 – 298,106 178,722
Charitable activities 6 230,906 461,553 692,459 635,294
Other trading activities 7 160,219 – 160,219 310,582
Investment income 8 128 – 128 172
Other income 9 44,981 4,211 49,192 –
------------------------------- ------------------------------- --------------------------------------- ---------------------------------------
Total income 734,340 465,764 1,200,104 1,124,770
=============================== =============================== ======================================= =======================================
Expenditure
Raising funds
Costs of raising donations and
legacies 10 234,149 – 234,149 296,513
Charitable activities 11,12 279,570 374,144 653,714 755,073
------------------------------- ------------------------------- ------------------------------- ---------------------------------------
Total expenditure 513,719 374,144 887,863 1,051,586
=============================== =============================== =============================== =======================================
Net income and net movements in funds
before gains and losses on investments 220,621 91,620 312,241 73,184
Net losses on investments 13 (4) – (4) –
------------------------------- ------------------------------- ------------------------------- ---------------------------------------
Net income and net movement in funds 220,617 91,620 312,237 73,184
=============================== =============================== =============================== =======================================
Reconciliation of funds
Total funds brought forward 348,787 42,787 391,574 318,390
------------------------------- ------------------------------- ------------------------------- ---------------------------------------
Total funds carried forward 569,404 134,407 703,811 391,574
=============================== =============================== =============================== =======================================

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 22 to 36 form part of these financial statements.

- 19 -

Age Concern Norfolk Operating as Age UK Norfolk

Company Limited by Guarantee

Balance sheet

31 March 2021

2021 2020
Note £ £ £ £
Fixed assets
Tangible fixed assets 17 21,621 9,089
Investments 18 – 4
-------------------------- ----------------------
21,621 9,093
Current assets
Debtors 19 242,331 210,947
Cash at bank and in hand 704,133 411,959
------------------------------- -------------------------------
946,464 622,906
Creditors: Amounts falling due within
one year 20 (121,500) (69,536)
------------------------------- -------------------------------
Net current assets 824,964 553,370
------------------------------- -------------------------------
Total assets less current liabilities 846,585 562,463
Creditors: Amounts falling due after
more than one year 21 (142,774) (170,889)
------------------------------- -------------------------------
Net assets 703,811 391,574
=============================== ===============================
Funds of the charity
Restricted funds 134,407 42,787
Unrestricted funds 569,404 348,787
------------------------------- -------------------------------
Total charity funds 24 703,811 391,574
=============================== ===============================

These financial statements were approved by the board of trustees and authorised for issue on 21 September 2021, and are signed on behalf of the board by:

Stephen Drake Chair

Company registration number: 03783205

The notes on pages 22 to 36 form part of these financial statements.

- 20 -

Age Concern Norfolk Operating as Age UK Norfolk

Company Limited by Guarantee

Statement of cash flows

Year ended 31 March 2021

2021 2020
£ £
Cash flows from operating activities
Net income 312,237 73,184
Adjustments for:
Depreciation of tangible fixed assets 9,184 9,815
Other interest receivable and similar income (128) (172)
Interest payable and similar charges 888 3,884
Loss on disposal of tangible fixed assets 287 2,098
Impairment of investments 4 –
Changes in:
Trade and other debtors (31,384) 18,077
Trade and other creditors 23,849 (283,810)
------------------------------- -------------------------------
Cash generated from operations 314,937 (176,924)
Interest paid (888) (3,884)
Interest received 128 172
------------------------------- -------------------------------
Net cash from/(used in) operating activities 314,181 (180,636)
=============================== ===============================
Cash flows from investing activities
Purchase of tangible assets (22,003) –
------------------------------- -------------------------------
Net cash used in investing activities (22,003) –
=============================== ===============================
Net increase/(decrease) in cash and cash equivalents 292,174 (180,636)
Cash and cash equivalents at beginning of year 411,959 592,595
------------------------------- -------------------------------
Cash and cash equivalents at end of year 704,133 411,959
=============================== ===============================

The notes on pages 22 to 36 form part of these financial statements.

- 21 -

Age Concern Norfolk Operating as Age UK Norfolk

Company Limited by Guarantee

Notes to the financial statements

Year ended 31 March 2021

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Henderson Business Centre, 51 Ivy Road, Norwich, Norfolk, NR5 8BF.

2. Statement of compliance

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The accounts have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient for the charity to be able to continue as a going concern.

The Trustees have taken into account the impact of Covid-19 when assessing going concern, as detailed in the Trustee's Report.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's

purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or

commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal.

Income

All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

- 22 -

Age Concern Norfolk Operating as Age UK Norfolk

Company Limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 March 2021

3. Accounting policies (continued)

Income (continued)

Expenditure

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

- 23 -

Age Concern Norfolk Operating as Age UK Norfolk

Company Limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 March 2021

3. Accounting policies (continued)

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold improvements - Depreciated over the lease term Equipment and fittings - 33% reducing balance Computer equipment - 33% reducing balance

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Redundancy

Redundancy and termination costs are recognised as an expense in the Statements of Financial Activates and a liability on the Balance Sheet immediately at the point the charity is demonstrably committed to either:

The charity is considered to be demonstrably committed only when it has a detailed formal plan for the termination and is without realistic possibility of withdrawal from the plan.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

- 24 -

Age Concern Norfolk Operating as Age UK Norfolk

Company Limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 March 2021

4. Limited by guarantee

The charity is a company limited by guarantee and does not have share capital. Every member of the charity undertakes to contribute such amounts (not exceeding £1) as may be required in the event of a winding up.

5. Donations and legacies

Unrestricted Total Funds Unrestricted Total Funds
Funds 2021 Funds 2020
£ £ £ £
Donations
Donations and gifts 41,524 41,524 58,018 58,018
Legacies
Legacies 256,582 256,582 120,704 120,704
------------------------------- ------------------------------- ------------------------------- -------------------------------
298,106 298,106 178,722 178,722
=============================== =============================== =============================== ===============================
Charitable activities
Unrestricted Restricted Total Funds
Funds Funds 2021
£ £ £
Goods and Services (3,734) – (3,734)
Service contracts 27,713 278,732 306,445
Grants 206,927 182,821 389,748
------------------------------- ------------------------------- -------------------------------
230,906 461,553 692,459
=============================== =============================== ===============================
Unrestricted Restricted Total Funds
Funds Funds 2020
£ £ £
Goods and Services 82,614 – 82,614
Service contracts 326,374 26,500 352,874
Grants 51,282 148,524 199,806
------------------------------- ------------------------------- -------------------------------
460,270 175,024 635,294
=============================== =============================== ===============================
Other trading activities
Unrestricted Total Funds Unrestricted Total Funds
Funds 2021 Funds 2020
£ £ £ £
Fundraising 56,629 56,629 36,977 36,977
Shop income 103,590 103,590 268,236 268,236
Age Concern Across Norfolk (Trading)
Limited – – 5,369 5,369
------------------------------- ------------------------------- ------------------------------- -------------------------------
160,219 160,219 310,582 310,582
=============================== =============================== =============================== ===============================

6. Charitable activities

7. Other trading activities

- 25 -

Age Concern Norfolk Operating as Age UK Norfolk

Company Limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 March 2021

8. Investment income

Unrestricted Total Funds Unrestricted Total Funds
Funds 2021 Funds 2020
£ £ £ £
Interest receivable 128 128 172 172
============= ============= ============= =============
9. Other income
Unrestricted Restricted Total Funds
Funds Funds 2021
£ £ £
Coronavirus job retention scheme claims 44,981 4,211 49,192
========================== ====================== ==========================
Unrestricted Restricted Total Funds
Funds Funds 2020
£ £ £
Coronavirus job retention scheme claims – – –
============= ============= =============
10. Costs of raising donations and legacies
Unrestricted Total Funds Unrestricted Total Funds
Funds 2021 Funds 2020
£ £ £ £
Other costs 1,588 1,588 999 999
Voluntary income staff costs 142,398 142,398 165,143 165,143
Other direct fundraising expenditure 90,163 90,163 130,371 130,371
------------------------------- ------------------------------- ------------------------------- -------------------------------
234,149 234,149 296,513 296,513
=============================== =============================== =============================== ===============================

- 26 -

Age Concern Norfolk Operating as Age UK Norfolk

Company Limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 March 2021

11. Expenditure on charitable activities by fund

Unrestricted Restricted Total Funds
Funds Funds 2021
£ £ £
Advising and Informing 4,711 285,361 290,072
Supporting and Enabling 6,724 88,783 95,507
Listening, Consulting and Involving 33,868 – 33,868
Training and Upskilling 9,461 – 9,461
Marketing costs 718 – 718
Support costs 224,088 – 224,088
------------------------------- ------------------------------- -------------------------------
279,570 374,144 653,714
=============================== =============================== ===============================
Unrestricted Restricted Total Funds
Funds Funds 2020
£ £ £
Advising and Informing 199,256 155,646 354,902
Supporting and Enabling 106,992 – 106,992
Listening, Consulting and Involving (5,018) 32,605 27,587
Training and Upskilling 33,992 – 33,992
Marketing costs 1,513 – 1,513
Support costs 230,087 – 230,087
------------------------------- ------------------------------- -------------------------------
566,822 188,251 755,073
=============================== =============================== ===============================
Analysis of Support costs
2021 2020
£ £
Wages and salaries 87,934 91,228
Rent, rates, light and heat 12,605 31,042
Insurance 10,492 5,232
Travel expenses 35 3,658
Legal and professional 16,486 600
Telephone costs 10,811 6,181
Computer costs 37,518 35,849
Depreciation 3,967 748
Interest payable 888 3,884
Other office costs 43,352 51,665
------------------------------- -------------------------------
224,088 230,087
=============================== ===============================

- 27 -

Age Concern Norfolk Operating as Age UK Norfolk

Company Limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 March 2021

12. Expenditure on charitable activities by activity

Activities
undertaken Grant funding Total funds Total fund
directly of activities Support costs 2021 2020
£ £ £ £ £
Advising and Informing 289,922 150 169,607 459,679 528,065
Supporting and Enabling 91,830 3,677 31,865 127,372 138,673
Listening, Consulting and
Involving 33,868 – 16,884 50,752 42,316
Training and Upskilling 9,461 – 3,278 12,739 44,057
Marketing costs 718 – 2,454 3,172 1,962
------------------------------- ---------------------- ------------------------------- ------------------------------- -------------------------------
425,799 3,827 224,088 653,714 755,073
=============================== ====================== =============================== =============================== ===============================
Net losses on investments
Unrestricted Total Funds Unrestricted Total Funds
Funds 2021 Funds 2020
£ £ £ £
Gains/(losses) on investments in group
undertakings (4) (4) – –
============= ============= ============= =============
Net income
Net income is stated after charging/(crediting):
2021 2020
£ £
Depreciation of tangible fixed assets 9,184 9,815
Operating lease costs for land and buildings 104,744 95,830
Operating lease costs for other leases 6,929 8,373
Pension costs 6,944 8,690
Loss on disposal of fixed assets 287
===============================		 2,099
==========================

13. Net losses on investments

14. Net income

Net income is stated after charging/(crediting):

15. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

2021 2020
£ £
Wages and salaries 475,240 567,882
Social security costs 22,334 35,064
Employer contributions to pension plans 6,944 8,690
------------------------------- -------------------------------
504,518 611,636
=============================== ===============================

Included within wages and salaries costs are redundancy and termination payments totalling £4,034. These payments were made inline with contractual agreements and have been accounted for inline with the accounting policy noted above.

The average head count of employees during the year was 36 (2020: 50).

- 28 -

Age Concern Norfolk Operating as Age UK Norfolk

Company Limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 March 2021

15. Staff costs (continued)

Key Management Personnel

Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity. The roles included in key management personnel are the Chief Executive Officer and Head of Operations. The total compensation paid to key management personnel for services provided to the charity was £71,533 (2020: £59,216).

No employee received employee benefits of more than £60,000 during the year (2020: Nil).

16. Trustee remuneration and expenses

No remuneration or other benefits were received from the charity or a related entity by the trustees during the year (2020: £Nil).

During the year, one trustee (2020: five) received reimbursement of expenses totalling £10 (2020: £2,043).

17. Tangible fixed assets

Leasehold Equipment Computer
improvements and fittings equipment Total
£ £ £ £
Cost
At 1 April 2020 23,614 15,406 16,804 55,824
Additions – – 22,003 22,003
Disposals (21,878) – (7,144) (29,022)
-------------------------- -------------------------- -------------------------- --------------------------
At 31 March 2021 1,736 15,406 31,663 48,805
========================== ========================== ========================== ==========================
Depreciation
At 1 April 2020 19,179 11,523 16,033 46,735
Charge for the year 4,435 1,281 3,468 9,184
Disposals (21,878) – (6,857) (28,735)
-------------------------- -------------------------- -------------------------- --------------------------
At 31 March 2021 1,736 12,804 12,644 27,184
========================== ========================== ========================== ==========================
Carrying amount
At 31 March 2021 – 2,602 19,019 21,621
========================== ========================== ========================== ==========================
At 31 March 2020 4,435 3,883 771 9,089
========================== ========================== ========================== ==========================

- 29 -

Age Concern Norfolk Operating as Age UK Norfolk

Company Limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 March 2021

18. Investments

Shares in
group
undertakings
£
Cost or valuation
At 1 April 2020 and 31 March 2021 4
=============
Impairment
At 1 April 2020 –
Disposals –
Other movements (4)
-------------
At 31 March 2021 (4)
=============
Carrying amount
At 31 March 2021 –
=============
At 31 March 2020 4
=============

All investments shown above are held at valuation.

Investments above relate to the companies below;

During the year Age Concern Norfolk (Trading) Limited and Age Concern Across Norfolk (Trading) Limited were struck off the register at Companies House. At the year end Age UK Norfolk Limited had an active proposal to be struck off the register. As a result the value of the shares held in these companies has been reduced to £Nil. All three companies were dormant throughout the period.

19. Debtors

2021 2020
£ £
Trade debtors 23,857 60,006
Prepayments and accrued income 215,537 150,826
Other debtors 2,937 115
------------------------------- -------------------------------
242,331 210,947
=============================== ===============================

The charity has been notified of additional legacies which have not been accrued for within the accounts as there is ongoing uncertainty over the value to be received.

- 30 -

Age Concern Norfolk Operating as Age UK Norfolk

Company Limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 March 2021

20. Creditors: Amounts falling due within one year

2021 2020
£ £
Trade creditors 58,226 3,934
Accruals and deferred income 26,563 21,540
Social security and other taxes 88 13,704
Amount due to Norfolk County Council 28,114 29,111
Other creditors 8,509 1,247
------------------------------- --------------------------
121,500 69,536
=============================== ==========================

21. Creditors: Amounts falling due after more than one year

2021 2020
£ £
Amount due to Norfolk County Council repayable in instalments:
1-2 years 27,216 28,114
2-5 years 76,541 79,067
Greater than 5 years 39,017 63,708
------------------------------- -------------------------------
142,774 170,889
=============================== ===============================

Age UK Norfolk had a Local Authority Scheme which was a funded defined benefit pension scheme, with the assets held in separate trustee-administered funds. On 18 December 2017, the trustees of Age UK Norfolk took the decision to close the scheme and it was closed with effect from 31 December 2017.

Age UK Norfolk entered into a settlement agreement with Norfolk County Council (being the administering authority of the pension scheme) on 30 March 2019.

In summary, the total amount due of £1,045,000 will be settled as follows:

The long term loan has been discounted to the net present value and therefore is less then the actual payments due at that time.

- 31 -

Age Concern Norfolk Operating as Age UK Norfolk

Company Limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 March 2021

22. Deferred income

2021 2020
£ £
At 1 April 2020 10,455 27,945
Amount released to income (10,455) (27,945)
Amount deferred in year 4,915 10,455
-------------------------- --------------------------
At 31 March 2021 4,915 10,455
========================== ==========================

Deferred income includes service contract income which does not relate to the period of these accounts.

23. Pensions and other post retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £6,944 (2020: £8,690).

At the end of the year there were no outstanding or prepaid contributions owed.

Local authority scheme

Age UK Norfolk had a Local Authority Scheme which was a funded defined benefit pension scheme, with the assets held in separate trustee-administered funds. On 18 December 2017, the trustees of Age UK Norfolk took the decision to close the scheme and it was closed with effect from 31 December 2017.

Age UK Norfolk entered into a settlement agreement with Norfolk County Council (being administering authority of the pension scheme) on 30 March 2019. See the creditor note for further details.

- 32 -

Age Concern Norfolk Operating as Age UK Norfolk

Company Limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 March 2021

24. Analysis of charitable funds

2021
Designated funds
Balance at 1 Balance at 31
April 2020 Income Expenditure Transfer March 2021
£ £ £ £ £
North Norfolk Advice 1,000 – – – 1,000
====================== ============= ============= ============= ======================
General funds
Balance at 1 Balance at 31
April 2020 Income Expenditure Transfer March 2021
£ £ £ £ £
Unrestricted funds 547,787 734,340 (513,723) (30,000) 738,404
Amount due to NCC (200,000) – – 30,000 (170,000)
------------------------------- ------------------------------- ------------------------------- -------------------------- -------------------------------
347,787 734,340 (513,723) – 568,404
=============================== =============================== =============================== ========================== ===============================
Restricted funds
Balance at 1 Balance at 31
April 2020 Income Expenditure Transfer March 2021
£ £ £ £ £
Care navigator west 18,427 68,040 (49,426) – 37,041
Thetford 2,728 – – – 2,728
NHS complaints service 877 – – – 877
Lottery grant 140 – – – 140
Digital inclusion – 91,333 (83,129) – 8,204
Winter project – 20,177 (5,654) – 14,523
IAA contract – 286,214 (235,935) – 50,279
Other restricted funds 20,615 – – – 20,615
-------------------------- ------------------------------- ------------------------------- ------------- -------------------------------
42,787 465,764 (374,144) – 134,407
========================== =============================== =============================== ============= ===============================
------------------------------- --------------------------------------- ------------------------------- ------------- -------------------------------
Total funds 2021 391,574 1,200,104 (887,867) – 703,811
=============================== ======================================= =============================== ============= ===============================
2020
Designated funds
Balance at 1 Balance at 31
April 2019 Income Expenditure Transfer March 2020
£ £ £ £ £
North Norfolk Advice 1,000 – – – 1,000
------------------------------- --------------------------------------- ------------------------------- ------------- -------------------------------
1,000 – – – 1,000
=============================== ======================================= =============================== ============= ===============================
General funds
Balance at 1 Balance at 31
April 2019 Income Expenditure Transfer March 2020
£ £ £ £ £
Unrestricted funds 594,979 949,746 (863,335) (133,603) 547,787
Amount due to NCC (330,000) – – 130,000 (200,000)
------------------------------- --------------------------------------- ------------------------------- ------------------------------- -------------------------------
264,979
===============================		 949,746
=======================================		 (863,335)
===============================		 263,603
===============================		 347,787
===============================

- 33 -

Age Concern Norfolk Operating as Age UK Norfolk

Company Limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 March 2021

Restricted funds

Restricted funds
Balance at 1 Balance at 31
April 2019 Income Expenditure Transfer March 2020
£ £ £ £ £
Care navigator west 8,690 68,336 (58,599) – 18,427
Eon warm home 14,342 – (14,342) – –
Thetford 6,263 – (3,535) – 2,728
CAN funding – 28,000 (31,603) 3,603 –
NHS complaints service – 26,500 (25,623) – 877
Lottery grant – 18,973 (18,833) – 140
Other restricted funds 23,116 33,215 (35,716) – 20,615
------------------------------- --------------------------------------- ------------------------------- ------------------------------- -------------------------------
52,411 175,024 (188,251) 3,603 42,787
=============================== ======================================= =============================== =============================== ===============================
------------------------------- --------------------------------------- --------------------------------------- ------------------------------- -------------------------------
Total funds 2020 318,390 1,124,770 (1,051,586) – 391,574
=============================== ======================================= ======================================= =============================== ===============================

Designated funds

North Norfolk Advice

This designated fund relates to a partial legacy which will be spent on North Norfolk Advice provision.

Restricted funds

Care navigator west

West Norfolk Clinical Commissioning Group fund us to provide a care navigation service for people aged over 75 (and/or their carers) who have been identified as either currently having or at significant risk of developing, high health and/ or social care needs. This is a non-clinical service that augments the existing ICO Model in West Norfolk.

Eon warm home

Eon provide funding to deliver benefit advice session to older people who are in or at risk of fuel poverty. This funding is to assess individuals and support them in accessing appropriate benefits and also both Eon and First Utility's Warm Home Discount Scheme.

Thetford

Following the closure of Age Concern Thetford, the charity took over services. Surplus funds from Age Concern Thetford were also transferred to the charity. These funds are primarily for the provision of information and advice in the Thetford area.

CAN Funding

We are working in partnership with organisations across Norfolk on Operation No Cold Shoulder, this is targeting known hotspots for social isolation and loneliness for all ages. Our input involves targeting marketing for our telephone befriending in to these areas and completing surveys on the effectiveness of telephone befriending in improving well-being.

NHS complaints service

In conjunction with POhWER we deliver advocacy on behalf of people aged over 60 in Norfolk who have a dispute regarding the NHS. This can take many forms and we will support older people to have their voices heard and empower them to seek restitution in cases where there has been unfair treatment or negligence.

- 34 -

Age Concern Norfolk Operating as Age UK Norfolk

Company Limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 March 2021

Lottery grant

Age UK National provide brand partners with funding from their lottery fund. Age UK Norfolk uses this fund to support the work of our Outreach Benefit Take-Up service. This outreach enables older people to be aware that they can apply for benefits that they are entitled to where they may have previously been unaware and/or unable to complete the complex paperwork.

Digital inclusion

Age UK Norfolk and Age UK Norwich worked in partnership to deliver Digital Inclusion activities provided for by Barclays via Age UK National. This fund will now be used to sustain our new website - engAge in to 2021/22.

Winter project

Age UK Norfolk deliver part of Norfolk Community Foundations Surviving Winter project. This funding is to be used to make direct grants to older people in need of improvements to the home to achieve a sustainable improvement in Winter wellness.

IAA contract

Age UK Norfolk deliver specialist Information, Advice and Advocacy to older people across Norfolk on behalf of NCC. This project facilitates our Advice Line, advisors and advocates who work across Norfolk on a range of issues affecting older people.

Other restricted funds

These represent other amalgamated smaller funds which must be spent on particular projects being undertaken by the charity.

25. Analysis of net assets between funds

Year ended 31 March 2021

Restricted Unrestricted
funds funds Total
£ £ £
Tangible fixed assets – 21,621 21,621
Current assets 134,407 812,057 946,464
Current liabilities – (121,500) (121,500)
Non-current liabilities – (142,774) (142,774)
------------------------------- ------------------------------- -------------------------------
134,407 569,404 703,811
=============================== =============================== ===============================

Year ended 31 March 2020

Restricted Unrestricted
funds funds Total
£ £ £
Tangible fixed assets – 9,089 9,089
Fixed asset investments – 4 4
Current assets 42,787 580,119 622,906
Current liabilities – (69,536) (69,536)
Non-current liabilities – (170,889) (170,889)
-------------------------- ------------------------------- -------------------------------
42,787 348,787 391,574
========================== =============================== ===============================

- 35 -

Age Concern Norfolk Operating as Age UK Norfolk

Company Limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 March 2021

26. Analysis of changes in net debt

At
At 1 Apr 2020 Cash flows 31 Mar 2021
£ £ £
Cash at bank and in hand 411,959 292,174 704,133
=============================== =============================== ===============================

27. Operating lease commitments

The total future minimum lease payments under non-cancellable operating leases are as follows:

2021 2020
£ £
Not later than 1 year 54,929 80,283
Later than 1 year and not later than 5 years 119,310 147,989
------------------------------- -------------------------------
174,239 228,272
=============================== ===============================

28. Related parties

During the year, the charity supplied management services to the value of £Nil (2020: £2,917) and office services to the value of £Nil (2020: £310) to Age Concern Across Norfolk (Trading) Limited, a company with directors in common and in which the charity is a shareholder. At 31 March 2020, Age Concern Across Norfolk (Trading) Limited owed the charity £Nil (2020: £Nil).

During the period, the charity was charged costs in relation to subcontracted charitable services totalling £22,590 (2020: £24,735) by Independence Matters CIC, an entity with directors in common. At 31 March 2020, the charity owed £16,943 (2020: £Nil) to Independence Matters CIC.

- 36 -