Registered number: 03897291
Charity number: 1079773
AGE UK MILTON KEYNES
(A Company Limited by Guarantee)
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

AGE UK MILTON KEYNES
(A Company Limited by Guarantee)
CONTENTS
Page
Reference and Administrative Details of the Charityi Trts Trustees and Advisers
Trustees. Report
Independent Auditors. Report on the Financial Statements
9-12
Statement of Financial Activities
13
Balance Sheet
14-15
Statement of Cash Flows
16
Notes to the Financlal Statements
17-39

AGE UK MILTON KEYNES
(A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2024
Trustees
Miss S J Graham, Trustee
Mrs J Deeley, Trustee
Mr J D Goodman, Trustee
Ms J M Mcmeekin, Chair
Mrs M Lang, Trustee
Mr G J Baxter, Trustee
Mr C Kingsford, Trustee
Dr V Fernandes, Trustee (appointed 28 April 2024)
Mr S D Walson, Trustee (appointed 29 January 2025)
Company registered
number
03897291
Charity registered
number
1079773
Registered office
The Peartree Centre
1 Chadds Lane
Peartree Bridge
Milton Keynes
MK6 3EB
Company secretary
Mrs G Baker
Independent auditors
MHA
Chartered Accountants
Statutory Auditors
The Pinnacle
150 -170 Midsummer Boulevard
Milton Keynes
MK91LZ
Bankers
Lloyds Bank PLC
Natwesl Bank PLC
Page 1

AGE UK MILTON KEYNES
{A Company Limited by Guarantee)
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The Irustees, 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 2024.
The financial statements have been prepared in accordance with the accounting policies sel out in note 1 to the
financial statements and comply with the charity's governing document, the Companies Acl 2006 and
"Accounting and Reporting by Charities.. Statement of Recommended Practice applicate to charities preparing
their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
(FRS 102)" {as amended for accounting periods commencing from 1 January 2019).
Objectives and activities
The charity is a non-political, non-sectarian voluntary organisation working with statutory and other voluntary,
community and social enterprise organisations within the Borough of Milton Keynes lo promole the welfare of
older people in any manner that now, or in the future may be deemed by law lo be charitable.
To this end, the charity provides services (some free to the client, some charged for), which give advice and
information, social activities to help reduce isolation and loneliness and practical help to enable older people to
stay in their own homes. It works with other partners to address the social isolation agenda (e.g. digital
inclusion) and provides activities to encourage being active in later life as well as work with health and social
care providers to improve the wellbeing of our clients.
As part of the Strategic Plan for 24-25, the key aims of the Charity for the older people of Milton Keynes are..
Increase social activities and stay connected
Thrive al home to maintain independence
Improve emotional and physical resilience to enhance wellbeing
Innovate and diversify services for clients of the wider community
Balanced with
To achieve sustainability that provides financial, environmental and community benefits.
The Trustees are aware of the Charity Commission's guidance on public benefit and consider that the objectives
set out above which relate directly to the welfare of older people benefit not only those individuals but society as
a whole.
Public benefit
Our charity's purposes as sel out in the objectives contained in the Gompany's memorandum of association are
to promote the relief of older people in any manner which now or hereafter may be deemed by law to be
charitable in and around Milton Keynes {hereinafter called "the area of benefit.).
Strategic report
The following sections for achievements and performance and financial review form the strategic report of the
charity.
Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the
charity should undertake.
Page 2

AGE UK MILTON KEYNES
{A Company Limited by Guarantee)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Achievements and performance
Continuing on our Strategic Plan from 21-24, we have been focusing on the key aims mentioned previously and
closely looking at what activities we need to drive and achieve those key aims. The focus for 23124 has been
CollaborationlPartnership with our Community, building on the networking we had done in the previous year.
Generally, the organisation has continued to go the extra mile in supporting the older people of Milton Keynes
even under extreme pressure and circumstances. Cost of Living continues to be the biggest concern for
everyone, from clients to Staff.
From the Strategic Plan
The one-page Strategy document focusing on 23124 is a constant reminder to
everyone where our focus should be to make sure we are not derailed and therefore have an impact of achieving
our goals. The slrategic plan for 21-24 is now coming lo an end in April 24 and the new focus is being worked
on ready for the next 3 years.124-271.
With the introduction of good business basics and the key measurement of our services, we supported nearly
6,000 clients with over 30,000 contacts across Milton Keynes and surrounding areas. We managed to obtain
nearly £2M in benefits for our clients who did not know they were entitled to this. With the cost of living hitting
everyone, it is key lo ensure our older people can buy essentials and keep warm.
We were extremely grateful lo our wonderful Volunteer Army who gave us over 45,000 volunteer hours to
support our services and clienls. This, with the dedication of our slaff enabled us to achieve the targets that we
set the organisalion, both financial and othemise.
The focus on 'Deep Dives, have Gontinued to streamline and remove barriers and look for improvement to
ensure we are able to make our services more effective and efficient. We were rewarded for our hard work in
this when we undertook the Charity Quality System (CQSI Assessment carried out by an external body. We
were recognised and passed with a glowing report showing no non-conformities and some best practice. As
always, this process is always continuous improvement and will be completed again in Ihe future.
With the introduction of a Preventative Maintenance programme last year for our leased and owned premises,
budget was set aside to ensure we keep on top of this and wilh the expiration of some of our leases this year,
dilapidations would be a key issue. Ongoing discussions are taking place concerning the possible relocation of
our warehouses due to the rent hike and re-cladding of the properties.
Due to the significant amount of networkinglpop-ups and marketing activities that were Gompleted by all levels of
the organisation led by Ihe SMT, Age UK Milton Keynes was again seen and recognised in the Community the
for the role it plays. Over 100 events were attended.
During 23124 we built on those relationships and established our place within the voluntary sector, community,
and with the local authority. We started building new partnerships with local businesses and continued
working well with established contacts.
Page 3

AGE UK MILTON KEYNES
(A Company Limlted by Guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Financial review
There was a deficit of £179,725 for the year ending 31st March 2024 compared wilh a surplus of £57,686 in
2022123.
Total income for the year was £2,830,845 compared with £2,695,292 for 2022123, this was slightly higher than
our budgeted income for the year, however, much of this income is in restricted funds. Expenditure was
£3,010,570 compared with £2,637,606 for the previous year, the total expenditure was slightly above the
budgeted figure of £2,919,505. The deficit is largely as a result of a provision for dilapidations which have been
incurred post year end after a decision lo terminate some of our property leases prior to the 31 March 2024.
Investment policy
The Trustees ensure that surplus funds are invested in bank deposits in order that they may be readily available.
Any monies not immediately required may be invested in securities or property by the Board, provided they seek
written, professional advice from a person of standing who is authorised to give such advice under the FCA.
Reserves policy
11 is considered that holding sufficient money to pay all staff redundancies would be an appropriate amount for
Age UK Milton Keynes to keep as reserves and this is the currently policy. Age UK Milton Keynes is working
towards holding 6 months of expenditure costs as reseNes', however, this will be 2 long-term process due to the
amount needed to cover these costs.
The Peartree Fund has been removed from the ReseNes calculation as, after taking advice, it has been deemed
a liabiSity on a fixed asset (the Peartree Centre) and would only become valid if the asset was to be sold.
The amount required to meet the current policy is £200,000. The funds available on 31st March 2024 are
calculated as £417,544. (Net current assets £1,871,743 less restricted funds of £279,823, less designated funds
of £1,145,556, less pension shortfall of £28,820).
Risk management
The Executive Committee has conducted a review of the major risks to which the charily is exposed. A risk
register has been established and is updated at least annually. Where appropriate, systems or procedures have
been established to mitigate the risks the charity faces.
Significant external risks to funding have led to the development of a strategic plan which will allow for the
diversification of funding and activilies. Internal control risks are minimised by the implementation of procedures
for authorisation of all transactions and projects. Procedures and Safe Working Practices to deal with the Covid-
19 situation are in place to ensure compliance with health and safety of staff, volunteers, clients and visitors.
We currently hold the Advice Quality Standard (AQS), the Infomation & Advice Quality Standard (Age UK
I&AQS). These ensure a confirmation of the consistent quality of delivery for all operational aspects of the
charity. These procedures are periodically reviewed to ensure that they continue to meet the needs of the charity.
We also hold the Charity Quality Standard {CQS) Award which was renewed at the beginning of 2024 and
focuses on the whole Charity from Strategy to Implementation.
Page 4

AGE UK MILTON KEYNES
{A Company Limited by Guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Plans for the future
We have been looking at the next 3 years and what that would look like in this ever-changing environment-, but
the key aims, will principally remain the same.
The key focus for 24125, will be 'Look at the Person, not the Age,. looking to build our understanding of what
our clients need and want for the future in this world after Covid and in this new world of Al and the younger older
person.
Strategy Aims for 24-27
To become a society in which we can all thrive, supporting our older community to:
Stay socially active and connected
Reducing social Isolation and Loneliness
Increasing capacity, diversity and extending reach of Clubs and Befriending and continuing to fully
market the services we offer to ensure we include all Partnersl Collaborate where possible working with the
VCSE Alliance
Be available and accessible to our community
Thrive at home to maTntain independence
Maintain and develop our Independent Livlng Service to ensure we can cover in a more effective and efficient
way.
Maintain the reach of our Information & Advice service- reducing the wailing time through effectiveleffiGient
delivery of service
Continue to increase the amount of benefits obtained for clients that are eligible but may not be claiming
Maintain the capacity of the Meal Delivery Service whilst maintaining quality
Improve Emotional and Physical Resilience to enhance wellbeing
Further develop the value of Social Prescribing service ensuring good outcomes. Mainlaining reach through
'Come and Connect, Drop Ins
Further develop our Hospital Aftercare seniice to ensure older people are resilient enough to Gope at home
after discharge
Benefit from our Innovative and diverse services for clients of the wider community
Develop Research on what our existing and future clients want- Utilising existing and new research
Enable, support and develop different clubs, focus activities for the +55's 'ln the Prime, groups and attract
Volunteers just starting their next stage
Partnerlcollaborate with more diverse communities.
Achieving Sustainablllty that provides Financial, Environmental and Community Benefits
Further development of our Retail offering, focusing on recycle, reuse
Supplying a range of products that meet all budgets
Ensure a full fundraising calendar with targets
FOGUS on core costs and projects for grant application
Continue 'Deep Dive, analysis to services to ensure effectiveness and efficiency lo cover core costs
Create New Income streams to foGUS on unrestricted income
Increase visibility of our existing Green credentials and further develop our environmental strategy
Further develop relationship with local community.
Page 5

AGE UK MILTON KEYNES
(A Company Limited by Guarantee)
TRUSTEES. REPORT {CONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2024
During 24125 we will conlinue building on those relationships and establishing our place within Ihe voluntary
sector, community, and with the local authority. We will be building on those partnerships with businesses
established in the previous year, driving for collaboration on projects and focusing on Ihose wider communities.
By continuing to drive foNard with the right strategy, right people and right processes, we can take this charity
into the next stage. All the Truslees are proud lo play a part in this wonderful organisation.
Structure, governance and management
Governing document
Age UK Milton Keynes is a charitable company limited by guarantee, incorporated on 20th December 1999 and
registered as a charity on 9th March 2000. The formal change of name from Age Concern Milton Keynes was
registered on 30th April 2010. The company was established under a Memorandum of association which
established the objects and powers of the charitable company and is governed under ils Articles of Association.
In the event of the company being wound up each member is required lo contribute an amount not exceeding
£1.
The trustees, who are also the directors for the purpose of company law, and who seNed during the year and up
to the date of signature of the financial statements were:
Mrs J Deeley
Miss S J Graham
Mr J D Goodman
Ms J M Mcmeekin
Mrs M Lang
Mr C Kingsford
Mr G Baxter
Dr V Fernandes (appointed 28 April 20241
Mr S D Watson, Trustee (appointed 29 January 2025)
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company
and guarantee to contribute £1 in the event of a winding up.
Trustee induction & training
New Trustees receive appropriate induction by way of an induction meeting together with appropriate training.
Page 6

AGE UK MILTON KEYNES
{A Company Limited by Guarantee)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Structure, governance and management (continued)
Organisational structure
The Board of Trustees meets four limes a year and is normally elected every year at the AGM. In addition to
reports by the Chief Executive and SMT, one formally constituted sub-committee report lo the Board.. the
Facilities, Audit & Risk Committee. The sub-committee is chaired by a Trustee appointed by the Board and has
specific terms of reference and levels of aulhority delegated by the Board. In addition, the Board meels quarterly
lo review in more depth specific areas of the organisation. The Board will meet at monthly or bi-monthly intervals
if circumstances deem this the correct thing to do. Meetings can be held virtually by MS Teamslzoom if in
person meetings are not allowed.
In addition to the Chief Executive, selected senior managers altend Board and Sub-committee meetings.
The Chief Executive, supported by the Senior Managers of the Charity, is responsible to the Board for the
development and implementation of the Charity's Strategic Plan.
Pay and remuneration
An annual review of payments to the charity's key management personnel is overseen by the trustees and
decisions made in accordance with the needs of the charity and legal requirements. There is not an annual
automatic rise in salaries and a slandard percentage rise is not given, with each role judged on merit.
Fundraising policy
Age UK Milton Keynes fundraises locally to increase income to the charity. As income generated from
fundraising is frequently unrestricted this money can be used in any way in which Age UK Milton Keynes feels
will benefit older people seNed by our organisation, in many cases for the key services for older people that do
not attract external funding.
Age UK Milton Keynes is committed to fundraising ethically, responsibly and transparently and to protect donors,
charity supporters and the public, including vulnerable people, from poor fundraising practices. Age UK Milton
Keynes is registered with the Fundraising Regulator and adheres to the Code of Fundraising Practice. As a
brand partner of Age UK, we agree to abide by guidelines and restrictions set by Age UK. A fundraising charter
has been produced outlining ways in which we can and cannot fundraise.
Age UK Milton Keynes is committed to being fully compliant with the laws and guidance underpinning charitable
fundraising as laid down in the Fundraising Regulators Code of Fundraising Practice. We regularly audit our
fundraising practices to ensure that they are compliant with regulatory Gontrols.
Age UK Milton Keynes does not use professional fundraisers or commercial participators, has mel with all
standards Cited and has received no complaints about fundraising for the charity.
Related parties
The Charity is a member of Age England Association and a brand partner of Age UK.
Page 7

AGE UK MILTON KEYNES
(A Company Limited by Guarantee)
TRUSTEES. REPORT {CONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2024
Statement of Trustees. responsibilities
The Trustees (who are also the directors of the Charity 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 PraGlice}.
Company law requires the Trustees to prepare financial statements for each financial . 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 Charity and of its incoming resources and application of resources, including its income
and expenditure, for that period. In preparing these financi81 statements, the Trustees are required to..
select suitable accounting policies and then apply them consistenlly.,
observe the methods and principles of the Charities SORP {FRS 1021.,
make judgments and accounting estimates that are reasonable and prudent.,
state whelher applicable UK Accounting Standards (FRS 1021 have been followed, subject lo any material
departures disclosed and explained in the financial statements.,
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain
the Charily'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.
Disclosure of information to auditors
Each of the persons who are Trustees at the time when this Trustees, Report is approved has confirmed that..
So far as they are aware, there is no relevanl audit information of which the charity's auditor is unaware.,
and
They have taken all steps Ihat Ihey ought to have taken as a trustee to make themselves aware of any
relevant audit information and to establish that the charity's auditor is aware of that information..
Auditors
The auditor is deemed to have been re-appointed in aGGordance with section 487 of the Companies Act 2006.
Approved by order of the members of the board of Trustees and signed on their behalf by..
Ms J M Mcmeekin
Chair of Trustees
Date.. 26 February 2025
Mrs G Baker
Secretary
Page 8

AGE UK MILTON KEYNES
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF AGE UK MILTON KEYNES
Opinion
We have audited the financial statements of Age UK Milton Keynes (the 'charity') for the year ended 31 March
2024 which comprise the Statement of Financial Activities, Ihe Balance Sheet, the Statement of Cash Flows and
the related notes, including a summary of significant accounting policies. The financial reporting framework thal
has been applied in their preparation is applicable law and United Kingdom Accounting Slandards, including
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of
Ireland. (United Kingdom Generally Accepted Accounting Praclice).
In our opinion the financial statements=
give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its
incoming resources and application of resources, including ils income and expenditure for the year then
ended.,
have been properly prepared in accordance wilh United Kingdom Generally Accepted Accounting
Practice., and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance wilh International Standards on Auditing (UK) (ISAS (UKI) and applicable
law. Our responsibilities under those standards are further described in the Auditors, responsil)ilities for the audit
of the financial statements section of our report. We are independent of the charilable company in accordance
wilh the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom,
including Ihe Financial Reporting Council'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 stalemenls is appropriate.
Based on the work we have performed, we have not idenlified any material uncertainties relating to events or
conditions that, individually or collectively, may cast significant doubl 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.
Page 9

AGE UK MILTON KEYNES
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF AGE UK MILTON KEYNES (CONTINUED)
Other information
The other information comprises the information included in the Annual Report other than the financial
statements and our Auditors, Report Ihereon. The Trustees are responsible for the other information contained
within the Annual Report. Our opinion on the financial statements does not cover the other information and,
except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion
thereon. Our responsibility is to read the other information and, in doing so, consider whether the other
information is materially inconsistent with the financial statements or our knowledge obtained in the Course of the
audit, or othejwise appears to be materially misstated. If we identify such material inconsistencies or apparent
material misstatements, we are required to determine whether this gives rise to a material misstatement in the
financial statements themselves. If, based on the work we have performed, we conclude that there is a material
misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit..
the information given in the Trustees, Report for the financial year for which the financial statements are
prepared is consistent with the financial statements.
the Trustees, Report has been prepared in accordance wilh applicable legal requirements.
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the charitable company and its environment obtained in the
course of the audit, we have not identified material misstatements in the Trustees, Report.
We have nothing lo report in respect of the following matters in relalion lo which 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 agreemenl 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 lo prepare the financial statements in accordance with the small companies
regime and take advantage of the small Gompanies, exemptions in preparing the Trustees, Report and
from the requirement to prepare a Strategic Report.
Page 10

AGE UK MILTON KEYNES
{A Company Limited by Guarantee}
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF AGE UK MILTON KEYNES (CONTINUED)
Responsibilities of trustees
As explained more fully in the Trustees, Responsibilities Stalement, the Trustees (who are also the directors of
the charitable company for the purposes of company lawl 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 Gontrol 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 slatements, the Trustees are responsible for assessing the charitable company's ability
to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going
concern basis of accounting unless the Trustees either intend to liquidate the Charilable Gompany or to cease
operations, or have no realistic alternative bul to do so.
AudTtors' 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 misslatement, whether due to fraud or error, and to issue an Auditors, Report thal includes our
opinion. Reasonable assurance is a high level of assurance, bul is nol a guarantee that an audit conducted in
accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstalemenls 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 laken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures
in line wilh 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:
Discussions held with with management and those charged with governance around any legal claim.
- Audit work performed over key risks arease identified such as management override and reviewing accounting
estimates for bias.
Review of financial statement disclosures to ensure accounting polcies have been correctly followed.
A further description of our responsibilities for the audit of Ihe financial statements is located on the Financial
Reporting Council's website at: www.frc.or
.uklauditorsres
onsibilities. This description forms part of our
Auditors, Report.
Page11

AGE UK MILTON KEYNES
IA Company Limited by Guarantee)
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF AGE UK MILTON KEYNES (CONTINUED)
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part
16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable
company's members those matters we are required to state to them in an Auditors, Report and for no olher
purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than
the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we
have formed.
Elizabeth Newell BA (Honsl FCA (Senior Statutory Auditor)
for and on behalf of
MHA
Chartered Accountants
Statutory Auditors
Milton Keynes
Date: 4 March 2025
MHA is the trading names of Maclntyre Hudson LLP, a limited liability partnership in England and Wales
(registered number OC312313)
Page 12

AGE UK MILTON KEYNES
(A Company Limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2024
Unrestricted
funds
2024
Restricted
funds
2024
Total
funds
2024
Total
funds
2023
Note
Income from:
Donations and legacies
Charitable activities
Other trading activities
Investments
127,843
737,992
1,243,652
18,779
15,587
686,992
143,430
1,424,984
1,243,652
18,779
76,627
1,340, 829
1,274,423
3,413
Total income
2,128,266
702,579
2,830,845
2, 695, 292
Expenditure on:
Raising funds
Charitable aclivities
1,146,819
1,161,713
1,146,819
1,863,751
971, 760
1, 665,846
702,038
Total expenditure
2,308,532
702,038
3,010,570
2, 637,606
Net (expenditure)lincome
Transfers between funds
{180,266)
43,350
541
(43,350)
{179,7251
57,686
19
Net movement Tn funds
(136,916)
{42,809)
1179,725)
57,686
Reconciliation of funds:
Total funds brought fonNard
Net movement in funds
1,728,836
{136,916)
322,632
{42,809)
2,051,468
1179,725)
1,993, 782
57,686
Total funds carried forward
1,591,920
279,823
1,871,743
2,051,468
The Statement of Financial Activities includes all gains and losses recognised in the year.
The noles on pages 17 to 39 form part of these financial statements.
Page 13

AGE UK MILTON KEYNES
(A Company Limited by Guarantee)
REGISTERED NUMBER: 03897291
BALANCE SHEET
AS AT 31 MARCH 2024
2024
2023
Note
Fixed assets
Tangible assets
14
988,195
1,019,826
988,195
1,019,826
Current assets
Stocks
Debtors
Cash at bank and in hand
15
16
5,375
324,570
807,4Q8
74,941
276, 735
914,493
1,137,353
1,206, 169
Creditors.. amounts falling due within one
year
17
(166,5651
(174,527)
Net current assets
970,788
1,031,642
Total assets less current liabilities
1,958,983
2, 051, 468
Provisions for liabilities
{87,240)
Net assets excluding pension asset
1,871,743
2,051,468
Total net assets
1,871,743
2,051,468
Charity funds
Reslricled funds
Unrestricted funds
19
279,823
1,591,920
322, 632
1, 728, 836
19
Total funds
1,871,743
2,051,468
Page 14

AGE UK MILTON KEYNES
IA Company Limited by Guarantee)
REGISTERED NUMBER: 03897291
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respecl to
accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to
the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by..
Ms J M Mcmeekin
Chair
Date.. 26 February 2025
Mrs G Baker
Secretary
The notes on pages 17 to 39 form part of these financial slatements.
Page 15

AGE UK MILTON KEYNES
(A Company Llmited by Guarantee)
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
Note
Cash flows from operating activities
Net cash used in operating activities
22
(125,864)
61, 102
Cash flows from investing activitles
Dividends, interests and rents from investments
18,779
3,413
Net cash provided by investing activitles
18,779
3,413
Cash flows from financing activities
Net cash provided by financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents al the beginning of the year
{107,0851
914,493
64,515
23
849, 978
Cash and cash equivalents at the end of the year
23
807,408
914,493
The notes on pages 17 to 39 form part of these financial stalemenls
Page 16

AGE UK MILTON KEYNES
{A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
General information
Age UK Milton Keynes is a private company limited by guarantee incorporated in England and Wales.
The registered office is The Peartree Centre, 1 Chadds Lane, Peartree Bridge, Milton Keynes, MK6 3EB.
The members of the company are the trustees, and in the event of the Charity being wound up, the liability
in respect of the guarantee is limited to £1 per member of the charity.
Accounting policies
2.1 Basis of preparation of financial statements
The financial statemenls have been prepared in accordance with the Charities SORP (FRS 102)
Accounting and Reporting by Charities.. Stalemenl of Recommended Practice applicable to charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland (FRS 102) (effective 1 January 20191, the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Age UK Milton Keynes meets the definition of a public benefit entity under FRS 102. Assets and
liabilities are initially recognised at historical cost or transaction value unless othe￿iSe stated in the
relevant accounting policy.
The financial slatemenls are prepared in British Pound Sterling (£), which is the funclional and
presentational currency of the charity. Monetary amounts in these financial statements are rounded
to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to
include the revaluation of freehold properties and to include investment properties and certain
financial instruments at fair value. The principal accounting policies adopted are set out below.
2.2 Golng ¢on¢ern
At the time of approving the financial statements, the trustees have a reasonable expectation thal
the charity has adequate resources to continue in operational existence for the foreseeable future.
Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial
statements.
2.3 Income
All income is recognised once the Charity has enlitlemenl lo the income, it is probable that the
income will be received and the amount of income receivable can be measured reliably.
Page 17

AGE UK MILTON KEYNES
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies {continued)
2.4 Expenditure
Expenditure is recognised once there is a legal or Constructive obligation to transfer economic benefit
to a third party, it is probable that a transfer of economic benefits will be required in settlement and
the amount of the obligation can be measured reliably. Expendilure is classified by activity. The costs
of each activity are made up of the total of direct costs and shared costs, including support costs
involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly
to that aclivily. Shared costs which Contribute to more than one activity and support costs which are
not atlribulable to a single activity are apportioned between those activities on a basis consistent with
the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation
charges allocated on the portion of the asset's use.
Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its
charitable purposes and includes costs of all fundraising activities events and non-charilable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the
Charity's objeclives, as well as any associated support costs.
Expenditure is recognised on an accrual basis as a liability is incurred. Where VAT relating to Exempt
Aclivities is not recoverable, it is shown as 'unrecoverable VAT, in the Central income and
expenditure..
Costs of raising funds comprise the costs associated with attracting voluntary income and the costs
of trading for fundraising purposes including the charity's shops. Expenditure on charitable activities
comprises those costs incurred by the charity in the delivery of its activities and services for its
beneficiaries. It includes both costs that can be allocated directly lo such activities and those costs of
an indirect nature necessary to support them. As well as those costs associated with meeting the
constitutional and statutory requirements of the charity and includes the audit fees and costs linked to
the strategic management of the charity.
All costs are allocaled between the expenditure categories of the SOFA on a basis designed to reflect
the use of the resource. Costs relating to a partlGular activity are allocated directly, others are
apportioned on an appropriate basis.
Costs of generating funds comprise the costs associated with attracting voluntary income and the
costs of trading for fundraising purposes including the charity's shops.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities
and services for its beneficiaries. It includes both costs that can be allocated directly to such activities
and those cosls of an indirect nature necessary lo support them.
Governance costs include those costs associated with meeting the constitutional and statutory
requirements of the charily and include the audit fees and costs linked to the strategic management
of the charily.
2.5 Government grants
Government grants relating to tangible fixed assets are treated as deferred income and released to
the Statement of Financial Activities over the expected useful lives of the assets concerned. Other
grants are credited to the Statemenl of Financial AGlivities as the related expenditure is incurred.
Page 18

AGE UK MILTON KEYNES
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies (continued)
2.6 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured
reliably by the Charity., this is normally upon notification of the interesl paid or payable by the
institution with whom the funds are deposited.
2.7 Taxation
The Charity IS Gonsidered lo pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act
2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.
Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains
received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section
256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are
applied exclusively to charitable purposes.
2.8 Tangible fixed assets and depreciation
Tangible fixed assets cosling £500 or more are capitalised and recognised when future economic
benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible
fixed assets are measured at cost less accumulated depreciation and any accumulated impairment
losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be
included in the measurement of cost.
At each reporting date the Charity assesses whether there is any indication of impairment. If such
indication exists, the recoverable amount of the asset is determined to be the higher of its fair value
less costs lo sell and its value in use. An impairment loss is recognised where Ihe carrying amount
exceeds the recoverable amount.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value
over their estimated useful lives.
Depreciation is provided on the following bases..
Leasehold land and buildings
over the life of the lease120/0 Straight line
Leasehold improvements
over the life of the lease
Motor vehicles
25°/o Straight line
Computer and office equipment 25 % 133 % straight line
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount
and are recognised in the Statement of Financial Activities.
2.9 Stocks
stocks are valued al the lower of cost and net realisable value after making due allowance for
obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed
and variable overheads.
Page 19

AGE UK MILTON KEYNES
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
A¢¢ounting policies (continued)
2.10 Debtors
Trade and other debtors are recognised al the settlement amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
2.11 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity
of three months or less from the date of acquisition or opening of the deposit or similar account.
2.12 Liabilities
Liabilities and provisions are recognised when there is an obligation al the Balance Sheet date as a
result of a past event, it is probable that a transfer of economic benefit will be required in settlement,
and the amount of the settlement can be estimated reliably.
Liabililies are recognised at the amount that the Charity anticipates it will pay to seltle the debt or the
amount it has received as advanced payments for the goods or services it musl provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where
the effect of the time value of money is material, the provision is based on the present value of those
amounts, discounted at the pre-tax discount rate that reflects the risks specific lo the liability. The
unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
2.13 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and subsequently
measured at their settlement value with the exception of bank loans which are subsequently
measured at amortised cost using the effective interest method.
2.14 Operating leases
Rentals paid under operating leases are charged to the Statement of Financial Activities on a
slraight-line basis over the lease term.
2.15 Pensions
The Charity is a member of a multi-employer plan. Where il is not possible for the Charity to obtain
sufficient information to enable it to account for the plan as a de*ined benefit plan, it accounts for the
plan as a defined contribution plan.
Page 20

AGE UK MILTON KEYNES
{A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Ac¢ounting policies (continued)
2.16 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the Charity and which have not been designated for other
purposes.
Designated funds Comprise unrestricted funds that have been sel aside by the Trustees for particular
purposes. The aim and use of each designated fund is set out in the notes to the financial
statements.
Restricted funds are funds which are lo be used in accordance with specific restrictions imposed by
donors or which have been raised by the Charity for particular purposes. The costs of raising and
administering such funds are charged against Ihe specific fund. The aim and use of each restricted
fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
Critical accounting estimates and areas of judgment
Estimates and judgments are corstinually evaluated and are based on historical experience and other
factors, including expectations of future events that are believed to be reasonable under the
circumstances.
Critical accounting estimates and assumptions..
The Charity makes estimates and assumptions concerning the future. The resulting accounling estimates
and assumptions will, by definition, seldom equal the related actual results. The estimates and
assumptions that have a significant risk of causing a material adjustment to the carrying amounts of
assets and liabilities within the next financial year are discussed below.
Page 21

AGE UK MILTON KEYNES
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Income from donations and legacies
Unrestricted Restricted
funds
funds
2024
2024
Total
funds
2024
Donations and legacies
127,843
15,587
143,430
Unrestricted
funds
2023
Restncled
funds
2023
Total
funds
2023
Donations and legacies
74, 499
2, 128
76,627
Page 22

AGE UK MILTON KEYNES
{A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Income from charitable activities
Unrestricted Restricted
funds
funds
2024
2024
Total
funds
2024
Sales wilhin charitable activities
Services provided under contract
other income
80,847
566,367
90,778
686,992
767,839
566,367
90,778
737,992
686,992
1,424,984
Unrestricted
funds
2023
Restricted
funds
2023
Total
funds
2023
Sales within charitable activities
Services provided under contract
Other income
21,235
456, 146
13,249
591,562
258, 637
612, 797
714, 783
73,249
490, 630
850, fgg
1,340,829
Page 23

AGE UK MILTON KEYNES
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Income from other trading activities
Income from fundraising events
Unrestricted
funds
2024
Total
funds
2024
Fundraising events
12,652
12,652
Unrestricted
funds
2023
Total
funds
2023
Fundraising events
13, 156
13, 156
Income from non charitable trading activities
Unrestricted
funds
2024
Total
funds
2024
Shop income
1,231,000
1,231,000
Unreslricled
funds
2023
Total
funds
2023
Shop income
1,261,267
1,261,267
Page 24

AGE UK MILTON KEYNES
{A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Investment Income
Unrestricted
funds
2024
Total
funds
2024
Interest receivable
18,779
18,779
Unrestricted
funds
2023
Total
funds
2023
Interest receivable
3,413
3,413
Expenditure on raising funds
Fundraising trading expenses
Unrestricted
funds
2024
Total
funds
2024
Other trading activities
Support costs
Staff costs
Depreciation and impairment
553,433
15,406
573,090
4,890
553,433
15,406
573,090
4,890
Total 2024
1,146,819
1,146,819
Page 25

AGE UK MILTON KEYNES
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Expenditure on raising funds (contlnued)
Fundraising trading expenses {continued}
Unreslricted
funds
2023
Tolal
funds
2023
Other trading activities
Support costs
Staff costs
Depreciation and impairment
420, 485
15,644
529, 735
5, 896
420, 485
15,644
529, 735
5,896
971, 760
971, 760
Analysis of expenditure on charitable activities
Summary by fund type
Unrestricted Restricted
funds
funds
2024
2024
Total
2024
Staff costs
Depreciation and impairment
Slaff and volunteer expenses
Other direct costs
Charitable expenditure
Other governance costs
Bank charges
1,096,208
30,339
16,469
497,296
1,593,504
30,339
33,327
187,884
334
17,256
1,107
16,858
187,884
334
17,256
1,107
1,161,713
702,038
1,863,751
Page 26

AGE UK MILTON KEYNES
{A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Analysis of expenditure on charitable activities (continued)
Summary by fund type {continued)
Unrestricted
funds
2023
Restricted
funds
2023
Tol81
2023
Staff costs
Depreciation and impairment
Staff and volunteer expenses
Other direct costs
other professional fees
Trustee expenses
Other governance costs
Bank charges
809,818
34,368
9,343
t75,870
405
349
13,300
3,330
422, t37
1,231, 955
34,368
24, 609
357, 523
405
349
13,300
3,337
15,266
181,713
1,046, 723
619, 123
1,665,846
10. Analysis of expenditure by activities
Activities
undertaken
directly
2024
Support
costs
2024
Total
funds
2024
Staff costs
Depreciation and impairment
staff and volunteer expenses
other direct costs
Charitable expenditure
Other governance Gosts
Bank charges
1,593,504
30,339
33,327
187,884
334
1,593,504
30,339
33,327
187,884
334
17,256
1,107
17,256
1,107
1,845,388
18,363
1,863,751
Page 27

AGE UK MILTON KEYNES
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
10. Analysis of expenditure by activities (continued)
Aclivities
undertaken
directly
2023
Support
costs
2023
Total
funds
2023
staff costs
Depreciation and impairment
Staff and volunteer expenses
Olher direct costs
Other professional fees
Charitable expenditure
Other governance costs
Bank charges
1, 231,955
34, 368
24, 609
357,523
1,231,955
34,368
24, 609
357,523
405
405
349
349
13,300
3,337
13,300
3,337
1, 648, 804
17,042
1, 665, 846
Page 28

AGE UK MILTON KEYNES
{A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
10. Analysis of expenditure by activities (continued)
Analysis of dlrect costs
Total
funds
2024
Total
funds
2023
Slaff costs
Depreciation
Staff and volunteer expenses
other direct costs
Other professional fees
Trustee expenses
1,509,514
30,339
33,327
268,435
3,439
334
1, 171,845
34, 368
24, 609
417,633
349
1,845,388
1, 648,804
Analysis of support costs
Total
funds
2024
Total
funds
2023
Professional fees
Audit fees
Bank charges
405
17,256
1,107
13,300
3,337
18,363
17,042
11.
Auditors, remuneration
2024
2023
Fees payable to the Charity's auditor for the audit of the Charity's annual
accounts
17,256
13,300
Page 29

AGE UK MILTON KEYNES
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
12.
Staff costs
2024
2023
Wages and salaries
Social security costs
Contribution to defined contribution pension schemes
1,962,816
90,968
28,820
1,597, 747
78, 165
25, 668
2,082,604
Y, 701, 580
The average number of full lime equivalent persons employed by the Charity during the year was as
follows..
2024
2023
No.
Chief Executive
Direct setwice staff
Cost of generating funds
Other
36
27
39
26
76
74
No employee received remuneration amounting lo more than £60,000 in either year.
The Key Managemenl Personnel of the Charity comprise the Chief Executive Officer, Finance and
Governance Director, Head of Income and Marketing, Head of Income and Retail. and operations
directors. The total employee benefits of the Key Management Personnel of the Charity were £259.018
{2023'. £254,906).
The charity offered a money purchase scheme operated by the Pensions Trust for all staff after a six
month probation period to the end of the financial year ending 31 March 2014. The staging dale for auto-
enrolment was 1 April 2014, from this date all eligible employees were automatically enrolled into a
pension scheme with Peoples Pension. The Pensions Trust pensions are now closed to new members.
13. Trustees, remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2023- £NIL).
During the year ended 31 March 2024, no Trustee expenses have been incurred (2023- £NILJ.
Page 30

AGE UK MILTON KEYNES
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
14. Tangible fixed assets
Leasehold
land and
buildings
Leasehold
improvements
Motor
vehicles
Computers
Total
Cost or valuation
At 1 April 2023
Additions
Disposals
246,452
2,372
1,457,380
24,582
238,317
1,225
1,966,731
3,597
{24,582)
{24,582)
At 31 March 2024
248,824
1,457,380
239,542
1,945,746
Depreciation
At 1 April 2023
Charge for the year
On disposals
231,807
3,093
462,600
27,032
24,582
227,916
5,103
946,905
35,228
(24,5821
124,582)
At 31 March 2024
234,900
489,632
233,019
957,551
Net book value
At 31 March 2024
13,924
967,748
6,523
988,195
At 31 March 2023
14,645
994, 780
10,401
1,019,826
The following charges have been registered on the charity's assets..
1. Rent deposit charge of £7,500 in respect of a charity shop in favour of L.R. Butlin Limited
2. Legal charge for £225,000 in favour of the National Lottery Charities Board in respect of a grant
received.
15. Stocks
2024
2023
Finished goods and goods for resale
5,375
14,941
Page 31

AGE UK MILTON KEYNES
{A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
16.
Debtors
2024
2023
Due within one year
Trade debtors
Amounts owed by participating interests
Other debtors
Prepayments and accrued income
115,728
138,841
5,399
64,602
186,347
36,419
53, 969
324,570
276, 735
17. Creditors: Amounts falling due within one year
2024
2023
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
35,136
34,715
16,103
80,611
5,081
30, 339
18,668
120,439
166,565
t74,527
18.
Provisions
Dilapidations
Provision
Additions
87,240
87,240
Page 32

AGE UK MILTON KEYNES
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
19. Statement of funds
Statement of funds . current year
Balance at
31 March
2024
Balance at 1
April 2023
Transfers
inlout
Income Expenditure
Unrestricted funds
Designated funds
Property Development Fund
Premises Maintenance Fund
1,060,091
100,000
1,060,091
85,465
(87,240)
72,705
1,160,091
(87,240)
72,705
1,145,556
General funds
General Funds - all funds
568,745
2,128,266 (2,221,292)
129,355)
446,364
Total Unrestricted funds
1,728,836
2,128,266 {2,308,632)
43,350
1,591,920
Page 33

AGE UK MILTON KEYNES
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
19. Statement of funds (continued)
Balance at
31 March
2024
Balance at 1
April 2023
Transfers
inlout
Income Expenditure
Restricted funds
Peartree
Home Support Hardship Fund
Lynoot Craft Fund
Allotments
Deep Cleans Equipment
Home First
225,000
6,781
1,527
1,500
2,521
5,286
2,026
5,000
1,718
225,000
4,472
1,527
1,500
2,521
5,286
2,026
5,000
1,718
156
(2,465)
Memory Club
Marketing Fund
utilities Hardship Fund
Meal Service - Christian
Centre
Christian Cenlre ILS Hardship
Fund
Age UK Winter Support
MKCC Handyman Service
Age UK MSCT Cohort 3
Digitial Inclusion
Gardening Equipment fund
HAS
Ad-hoc Transport Service
Meal Services
Live Life
1,000
1,000
2,826
1,861
45,312
5,520
14,754
2,826
1,861
24,586
118
(20,844)
(38,204)
164,812)
27,164
35,535
500
5,520
14,523
500
266,137
(201,679)
{1,4781
{2,4401
1138,704)
{31,870)
{32,7261
{72,7921
{10,233)
{73,700)
{635)
{7,118)
{338)
(2,000)
(64,4581
1,478
2,440
112,936
38,187
36,965
85,921
12,729
73,700
635
7,118
338
25,768
16,3171
14,2391
113,1291
12,496)
South Wesl Nelwork
The Bridge Practice
Nexus CLW
Ascent Primary Care
Eon Warm Homes - Age UK
Bucks CC
A10 other grants
Great Linford PPC
Lunch Clubs
2,000
Total Restricted funds
322,632
702,579
{702,038)
(43,3501
279,823
Total of funds
2,051,468
2,830,845 (3,010,570)
1,871,743
Page 34

AGE UK MILTON KEYNES
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
19. Statement of funds {continued)
Home Support Hardship Fund-. A hardship fund to provide emergency support to vulnerable older clients
on a one-off crisis basis.
Deep Cleans Equipment.. Grants received from INTU'.MK and MK Community Foundation to purchase
equipment for the deep clean sei
Peartree Centre.. Fund relates to a restriction by the Lottery Fund which will remain in force as a restricted
fund for 80 years, wilh effect from February 2005
Lynoot Craft Fund.. Fund set up from legacy from client and used to fund a craft activity groups.
Donations to fund memory clubs.
Home First.. To provide support to help people stay in their homes rather Ihan being admitted to hospital.
Allotments.. Ground Force- donation to build an allolmentlgarden behind the Peartree Centre.
Meal SeNice - Christian Centre.. Grant from the Chrislian Foundation to provide free meals for older
people in need.
Markeling Fund.. Donation to pay for marketing support
utilities Hardship Fund.. Donations to help wilh utilities for older people in need.
Christian Foundation hardship fund for ILS clients
Age UK Grant for Winter Support
Grant from MKCC to provide a specialised handyman service to their tenants
Age UK grant for new MSCT group
Age UK grant for Digital Inclusion project
Page 35

AGE UK MILTON KEYNES
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
20. Summary of funds
Summary of funds - current year
Balance at
31 March
2024
Balance at 1
April 2023
Transfers
inlout
Income Expenditure
Designated funds
General funds
Restricted funds
1,160,091
568,745
322,632
187,240)
2,128,266 {2,221,292)
702,579
1702,038)
72,705
(29,355)
143,350>
1,145,556
446,364
279,823
2,051,468
2,830,845 (3,010,570)
1,871,743
21. Analysis of net assets between funds
Analysis of net assets between funds - current period
Unrestricted Restricted
funds
funds
2024
2024
Total
funds
2024
Tangible fixed assets
Current assets
Creditors due within one year
Provisions for liabilities and charges
988,195
857,530
(166,5651
(87,240)
988,195
1,137,353
{166,565)
{87,240)
279,823
Total
1,591,920
279,823
1,871,743
Analysis of net assets between funds - prior period
Unreslricted
funds
2023
Restricled
funds
2023
Tolal
runds
2023
Tangible fixed assets
Current assets
Creditors due within one year
1,019,826
883,537
(174,527)
1,019,826
1, 206, 169
(174,527)
322, 632
Total
7, 728, 836
322, 632
2,051,468
Page 36

AGE UK MILTON KEYNES
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
22.
Reconciliation of net movement in funds to net cash flow from operating activities
2024
2023
Net incomelexpenditure for the period (as per Statement of Financial
Activities)
{179,725)
57, 686
Adjustments for:
Depreciation charges
Dividends, interests and rents from investments
Decrease in stocks
(Increaselldecrease in debtors
Increasel(deGrease} in creditors and provisions
Purchase of fixed assets
35,228
{18,779)
9,566
{47,835)
79,278
{3,597)
40, 265
(3,413)
17,311
16,236
(66, 983)
Net cash provided byl(used in) operating activities
{125,864)
61, 102
23. Analysis of cash and cash equivalents
2024
2023
Cash in hand
807,408
914,493
Total cash and cash equivalents
807,408
914,493
24. Analysis of changes in net debt
At 1 April
2023 Cash flows
At 31 March
2024
Cash at bank and in hand
914,493
{107,0851
807,408
914,493
{107,085)
807,408
Page 37

AGE UK MILTON KEYNES
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
25.
Contingent liabilities
A liability would arise in the evenl of a withdrawal of the charity from the pension scheme operated by The
Pension Trust. The contingent liability al 31st March 2024 amounted to £9,840 12023 £9,840) The
Trustees have engaged Spence and Partners to advise and manage transfers of pension debt to reduce
the liabilities under the Pensions Trust. Transfers have been effected to reduce the debt by more than
SO'￿.
26.
Retlrement benefit schemes
The amount recognised in income or expenditure as an expense in relalion to defined conlribution plans
was £28,820 (2023.. £25,668).
The charity participates in the scheme, a multi-employer scheme which provides benefits to some 950
non-associated participating employers. The scheme is a defined benefit scheme in the UK. It is not
possible for the charity to obtain sufficient information to enable it to account for the scheme as a defined
benefit scheme. Therefore it accounts for the scheme as a defined contribution scheme.
The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force
on 30 December 2005. This, logelher with documents issued by the Pensions Regulator and Technical
Actuarial Standards issued by the Financial Reporting Council, set out the framework for funding defined
benefit occupational pension schemes in the UK.
The scheme is classified as a 'lasl-man standing arrangement,. Therefore the charity is potentially liable
for other participating employers, obligations if those employers are unable to meel their share of the
scheme deficit following withdrawal from the scheme. Participating employers are legally required to meel
their share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme.
Where the scheme is in deficit and where the charity has agreed to a deficit funding arrangement the
company recognises a liability for this obligation. The amount recognised is the net present value of the
deficit reduction contributions payable under the agreement that relates lo the deficit. The present value is
calculated using the discount rate detailed in these disclosures. The unwinding of the discount rate is
recognised as a finance cost.
27. Operating lease commitments
At 31 March 2024 the Charity had commitments to make future minimum lease payments under non-
cancellable operating leases as follows:
2024
2023
Not later than 1 year
Later than 1 year and not later than 5 years
Later than 5 years
80,647
198,483
2,147,101
11,967
679,424
77,946
2,426,231
709,337
Page 38

AGE UK MILTON KEYNES
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
28.
Related party transactions
2024
In The Prime Limited
138,841
138,84
The charity works closely with In The Prime Limited, a company related by association of its directors and
board members of Age UK Milton Keynes. The balance owed lo Age UK Milton Keynes is as identified
above and in the table below.
2024
Transactions during the year
Recharges
Donation received
71,196
37,000
29. Controlling party
The charity is ultimately controlled by the Board of Trustees.
30.
Company limited by guarantee
The charity has no share capital and is limited by guarantee.
The trustees are members of the company and each one undertakes to contribute £110 the assets of the
charity in the event of it being wound up while he or she is a member or within one year after he or she
ceases to be a member.
Page 39