AGE UK BARNET ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Company no. 03863045 Registered charity no. 1080458
Age UK Barnet CONTENTS Page Reference and Administrative Information 1 Trustees' Report 2 Independent Auditor's Report 14 Statement of Financial Activities 18 Balance Sheet 19 Statement of Cash flows 20 Notes to the Financial Statements 21
Age UK Barnet REFERENCE AND ADMINISTRATIVE INFORMATION Age UK Barnet is registered as a company and charity in England & Wales Company Number 03863045 Charity Registration Number 1080458 Principal & Registered Office Ann Owens Centre Oak Lane East Finchley London N2 8LT Trustees Trustees in office from 1 April 2024 to the date of this report are as follows: Lorraine Barnet (Chair) Gillian Jordan (retired 11 November 2024) Sohini Boron John Tacchi Ruth Newrick Julian Tomlin (Hon Treasurer) (resigned 11 November 2024) Alexis Ingram Jean Hanson Rachel Hanger (appointed 11 November 2024) *Catherine Loveday Expert Adviser to the board Senior Management Team Chief Executive Officer & Company Secretary Helen Newman Advisors Independent Auditor Solicitors Bankers Cash Managers Knox Cropper LLP Chartered Accountants 65 Leadenhall Street London ЕС3А 2AD Bates Wells 10 Queen Street Place London ECAR 1BE CAF Bank Ltd PO Box 289 West Malling Kent ME19 4TA Flagstone Group Ltd 1st Floor Clareville House 26-27 Oxenden Street London SWIY 4EK 1
Age UK Barnet Trustees' Report for the year ended 31 March 2025 The trustees present their report and financial statements for the year ended 31 March 2025. Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association, the requirements of a directors' report as required by company law, and the Statement of recommended Practice - Accounting and Reporting by Charities; SORP applicable to charities preparing their financial statements in accordance with FRS 102 (second edition - effective 1 January 2019). OBJECTIVES AND ACTIVITIES At Age UK Barnet, our mission is simple but powerful: to improve the lives of older people in and around the London Borough of Barnet. We believe everyone should have the opportunity to lead a healthy, fulfilling life in later years — and to stay safe and independent in their own home for as long as possible. Our work is shaped by the voices and experiences of older people in our community. We actively involve them in designing and delivering services that truly meet their needs. From wellbeing activities to practical support at home, everything we do is focused on enhancing quality of life. In 2024-25 we estimate more than 18000 people in the borough used a service, attended an activity or had some contact with Age UK Barnet. That's an increase of 14% and means the organisation reached around one in five of the borough's older people. We achieved this through increasing the range and location of our activities and outreach sessions and through our work distributing the Household Support Fund. We are proud that the quality of our services is externally audited, providing reassurance that we meet rigorous standards and continuously strive for improvement. Our Trustees follow the Charity Commission's guidance on public benefit when setting strategic goals and reviewing our impact. We make sure that all planned activities clearly align with our charitable aims — and most importantly, make a real difference to the lives of older people in Barnet. Safeguarding is a key priority. Many of the people we support are vulnerable adults, and we are fully committed to ensuring their safety. All our Trustees, staff and volunteers are DBS checked in line with legal requirements or best practice. They also receive regular safeguarding training, and we take any concerns or complaints extremely seriously, investigating all matters in accordance with our complaints policy. We do everything we can to keep our services affordable and accessible, reviewing charges regularly to ensure the widest possible access. At the same time, we recognise that some costs may need to rise in future to ensure the sustainability of the services we provide. 2
Age UK Barnet Trustees' Report for the year ended 31 March 2025 In addition to our direct work with older people, Age UK Barnet plays an active role in shaping the future of the borough. We contribute to local consultations, attend partnership and strategy meetings, and campaign on the issues that matter most to our community. ACHIEVEMENTS AND PERFORMANCE The year 2024-25 was another successful one for Age UK Barnet. Our Neighbourhood Services contract which began in 2018 was extended to August 2025 and we heard in July 2025 it would be extended again to 31 March 2027. NEIGHBOURHOOD SERVICES This contract has four main strands: Wellbeing - digital inclusion, social groups and other activities Falls prevention - footcare, exercise and awareness raising Handyperson - practical support in the home Later Life Planning - information and advice on a range of issues affecting older people such as benefits, housing and care. This year the service helped older people claim more than £1.4 million in eligible benefits. EXTERNAL PROVIDERS - working with local community groups to extend our reach Age UK Barnet's long-established partnership with our External Providers enables us to extend our Neighbourhood Services reach throughout the borough and into different communities. In 2024-25 we continued to work with Chipping Barnet Day Centre, Barnet African Caribbean Association, Barnet Asian Women's Association, High Barnet Good Neighbour Scheme, the Good Neighbour schemes for Mill Hill 8 Burnt Oak and the Barnet Association for Tamil Elders. DEMENTIA SUPPORT SERVICES The Charity was awarded a five-year contract to provide Dementia Support Services in Barnet and delivery began on April 1st 2021. This has three strands: • A Dementia Hub providing information to the community • A Dementia Adviser service offering specialist information and support to those living with dementia • Day opportunities - providing a programme of stimulating activities for people with mild to moderate dementia PROJECTS Social Walks We were able to continue and further develop our walks programme with funding from the Charity of Sir Richard Whittington. Throughout the year we have invited guest speakers who share relevant and interesting information during the walk as 3
Age UK Barnet Trustees' Report for the year ended 31 March 2025 well as in the café afterwards when walkers socialise together. Twenty-seven volunteers support the walks and 204 people have taken part this year. Memory Matters Funded by Barnet Integrated Care Board, our Memory Matters sessions continued in 2024-25. These blocks of in person sessions support people with a dementia diagnosis to maintain their cognitive function through science-backed exercises and interventions. We are fortunate in this work to have the support of Professor Catherine Loveday, a renowned cognitive neuroscientist. This year 46 people attended 18 sessions with a 9.6 out of 10 satisfaction rating. Household Support Fund Age UK Barnet was asked to continue delivery of financial support to older adults of pensionable age though the Household Support Fund in 2024-25. Funding delegated from central government supported 638 older people with grants towards the rising cost of food, energy bills such as gas, electricity and water and other essentials. A total of £682,610 was awarded, both directly to clients and via key partner organisations such as the Young Barnet Foundation, Chipping Barnet Foodbank, and the Somali Bravanese Welfare Association. This enabled older people from all over the borough to benefit. Outreach Project. Age UK Barnet secured funding from Barnet Borough Partnership to continue this piece of work which is aimed at reaching residents who might not have engaged with services previously. It aims to highlight sources of support for older people in the community, to increase their wellbeing and reduce their risk of loneliness and isolation. During the year this project engaged with 2,466 residents and identified gaps in service provision. City Bridge This was the second year of tunding trom the City Bridge rust secured in 2023-24 which has enabled the organisation to expand and diversify our activities. During the year 1,521 individuals were supported through our activities, with 23.1% of these being new clients, reflecting strong reach and community trust. We ran 79 social and activity clubs, offering a wide mix of creative, social, and practical activities. Dementia Befriending - Henry Smith This service is in its second year of funding from Henry Smith Foundation which runs from 2023-2026. Demand is ever increasing due to the increase in people being diagnosed in Barnet and during the year we supported over 186 clients with the befriending service. We supported 89 housebound Dementia Befriending clients who have either been matched with a volunteer or who have been referred or signposted to another service. The aim of the service is to improve client's engagement, communication, and cognitive abilities. Curated activity packs are given to volunteers to take on 4
Age UK Barnet Trustees' Report for the year ended 31 March 2025 visits and these contain a variety of stimulating activities tailored to the clients' interests and needs. So far these have been very successful. Masonic Charitable Foundation Age UK Barnet was also successful in securing funding from the Masonic Charitable Foundation to enhance and expand our digital inclusion support provision. This funding will last for three years until 2026. VOLUNTEERING giving back to the community We are very fortunate at Age UK Barnet to have the most amazing team of volunteers! In 2024-25 478 volunteers supported the organisation. Together, our volunteers contributed a total of 49,712 hours of support across our programmes. Using the London Living Wage (£13.85 per hour) as a benchmark, this equates to a monetary value of £688,511.20 - a powerful indicator of the time, dedication, and impact our volunteers bring. BARNET SOCIAL PRESCRIBING SERVICE & INTEGRATED CARE SERVICES Signposting & connecting people to local community activities & services Age UK Barnet continues to manage the Social Prescribing service in the borough. This enables the organisation, through the social prescribers, to raise awareness of our services with hard-to-reach groups. The team supports adults who are registered with a Barnet GP Practice, offering local information and advice for non- medical based needs that are negatively affecting their health and wellbeing. This year they supported 4,205 people aged 55+ and 94% of those said they would recommend the service to others. Ageing Well MDT Age UK Barnet has played a key role in the Ageing well MDT in Barnet since it began in 2018 and we have had full time staff member working as the Ageing well MDT Social Prescriber for this service since September 2022. The role is intended to support those who attend the Ageing well MDT to offer community services signposting and short-term case work support for clients who need support engaging with community and statutory services. Within this last financial year the MDT Social Prescriber has worked with over 136 different people and their family members or carers through this service. Fundraising Age UK Barnet is grateful to the trustees of the Dr French Foundation who made an extremely generous donation of £500,000 to the organisation in 2024-25. This was made possible following their sale of the Dr French Care Home in North Finchley which closed in 2024. 5
Age UK Barnet Trustees' Report for the year ended 31 March 2025 As charities face an increasingly challenging funding landscape, this generosity has strengthened Age UK Barnet's financial resilience and will, we intend, sustain a programme of much needed projects over the next five to ten years. We were delighted to be chosen as one of the Mayor of Barnet Clir Tony Vourou's chosen charities of the year for 2024-25 along with the Royal Free Charity and Macmillan Cancer Support. We were also chosen by Co-op to be one of their local chosen charities. We held our own fundraisers throughout the year including a quiz night and a Charity golf day. We also raised nearly £5,000 in donations to help us buy a new professional oven for the kitchen. There was some individual fundraising from staff including CEO Helen Newman who took part in a10k run with her friend Geri and raised £5,000 and our Age-friendly coordinator Pippa Mannerings, who trained for the Brighton marathon without any technology and raised £2,258. Thanks also to donations from Good Oaks, Waitrose, our friends at Hampstead Garden Suburb Fellowship, Co-op and Groundwork. Together we raised £52,626 in 2024-25 Comms and Publicity Our website continues to be an important source of information for older people in the borough and had over 325,591 hits. Many of these were to the scams pages reflecting older people's concerns about rogue traders and scammers, which remains a particular worry for older people. Our social media presence has grown rapidly and in 2024/25 our followers on Twitter and Facebook jumped to nearly 5,000, with 90,636 impressions on Facebook. We increased our engagement with local community groups through neighbourhood chat rooms like nextdoor and local Facebook groups and it's been a successful way of targeting areas to recruit participants for some of our activities. Our Instagram account has successfully engaged with local businesses, leading to offers of donations and volunteering, and the number of followers has risen to 1,325 this year an increase of 14 per cent. We also continue to build our Linkedin profile and followers have increased by 100% to 300. Our e-newsletter keeps subscribers informed about our services, activities and events as well as other news in the borough that affects older people. We now email this out to monthly to over 3,400 subscribers. Our Memory Matters newsletter, which informs families living with dementia about what's happening at Age UK Barnet and around the borough, has doubled the number of subscribers and now nearly 800 people receive a copy of the email. And the print run of our What's On guide, which details our activities, services and events, went up to 25,000. On top of this 22,000 What's on guides are sent digitally to people with email addresses. 6
Age UK Barnet Trustees' Report for the year ended 31 March 2025 Looking forward Trustees have agreed the following aims for 2025-30 Over this period we aim to: • Continually improve and develop our services to ensure quality and relevance. • Explore ways to reduce inequalities faced by older people and focus on those most in need • Increase the participation of older people from all of Barnet's communities in service planning and evaluation. • Evaluate our services and celebrate our reach and impact. • Ensure financial stability and explore opportunities for income generation. And we will continue to: Develop our people, our organisation and our infrastructure striving for best practice across all areas • Continue to support and work through our local partner organisations to provide the best experience possible for service users • Continue to be a great place to work and volunteer FINANCIAL REVIEW For the year end 31 March 2025 Age UK Barnet had the following; 2025 2024 Income Total Expenditure Net Assets General Unrestricted Funds Designated Funds Restricted Funds 3,519,346 2,901,669 2,824,259 2,722,474 1,739,068 1,039,052 660,476 513,215 758,987 258,987 319,605 266,849 Income in 2025 was clearly significantly increased by the donation from the Dr French Foundation which has been placed into a designated fund. Other than that, the main source of income for the year was from contracts for the provision of charitable services from the London Borough of Barnet and from the Social Prescribing service. Employment costs comprised 66% of the total resources expended by the charity in the year. In the previous year they accounted for 61%. This is due to the funding received for the Household Support Fund which was distributed in grants to older people. The Charity relies heavily on the commitment and hard work of its staff, its volunteers and its Board of Trustees. 7
Age UK Barnet Trustees' Report for the year ended 31 March 2025 The established systems and procedures for Trustees and employees have been adhered to and areas of training and development are kept under constant review. Staff performance reviews are undertaken at appropriate intervals and formal appraisals take place yearly with interim reviews taking place more frequently as appropriate. All staff are subscribed to a training provider and follow a set programme through the year. Funding sources and fundraising The Charity has been pursuing a detailed fundraising strategy which is available to all staff and stakeholders. In summary, we are conscious of the advisability of diversifying our sources of income, given our continued reliance on contract income to fund our range of services from the London Borough of Barnet. The Charity has an active policy of applying for grants from grant making charities to fund appropriate additional charitable services and activities which are intended to enhance the core services which we provide and which are described in this report. In 2024-25 we were successful in attracting the following new funding: • Outreach Project - Barnet Borough Partnership • Dementia Friendly Flower Arranging - Eleanor Palmer Trust We also continued to benefit from funding secured in the previous financial year from: • The Charity of Sir Richard Whittington - Walk and Talk - Funded by • Age UK (national) - Scams Awareness • Emmanuel Hospital Charity - Information and Advice • National Lottery Community Fund - Pigeon Post • Henry Smith Foundation - Dementia Befriending • Central London Community Healthcare - Community Ageing Well Service • The City Bridge Trust - Activities to reduce loneliness and isolation • Masonic Charitable Foundation - Digital Inclusion • London Borough of Barnet - Age Friendly Barnet The Charity was advised by freelance consultant Rob Hamilton on these and other grant applications during the year. Our level of expenditure on fundraising has not required the Charity to register with Fundraising Regulator but we will continue to keep the position under review in the current financial year. The Charity has regard to best practice and all applicable legal requirements in its fundraising activities including compliance with data protection requirements. There have been no failures on the part of the Charity to comply with any applicable fundraising standards and there have been no complaints about fundraising activity received by the Charity. The Charity does not solicit donations directly by post or by any other means of communication. Any members of staff or volunteers engaged in fundraising activity are made aware of all legal and other requirements applicable in that connection. 8
Age UK Barnet Trustees' Report for the year ended 31 March 2025 INCOME GENERATION Developing new strands of income remains a key strategic aim for Age UK Barnet as a way of reducing the organisation's dependence on statutory funding. Fundraising during the year included: Brighton Marathon • Regents Park 10k • Late Summer Festival • Golf Day • Quiz Night Reserves policy This year trustees revisited the reserves policy and having taken external advice, agreed it would be prudent to take a flexible approach and retain between three and six months running costs in case of a loss of contract income or in the event of a wind up process. Based on the year under review three months running costs are approximately £574,000. Our current general reserves are in line with this plan. Investment of liquid resources The Trustees consider it appropriate to invest monies not required for the charity's operations in the short term in units in common investment schemes established in accordance with sections 96 and 100 of the Charities Act 2011. The trustees' policy is to minimise the risks of significant fluctuations in the value of such investments by investing in fixed interest rather than equity-based units, and to achieve a greater rate of return than would be available from bank deposits. The trustees remain content that the investment policy outlined above is suited to its current circumstances but will review at regular intervals. Bank balances are held in interest-bearing deposits other than the current account. STRUCTURE, GOVERNANCE AND MANAGEMENT Incorporation and governing document Age UK Barnet was incorporated on 21 October 1999 as a company limited by guarantee and was registered as a charity by the Charity Commission for England and Wales on 26 April 2000. It was originally called Age Concern Barnet. As a company, it is governed by its Memorandum and Articles of Association. At an EGM in December 2020, trustees and members passed a special resolution to adopt a new constitution which had been pre-approved by the Charity Commission and recommended by Age UK. The biggest change is that since 1st April 2021, trustees are the Charity's only members. 9
Age UK Barnet Trustees' Report for the year ended 31 March 2025 Management and trustees Day to day responsibility for the operations of the Charity during the year rested with the Chief Executive Officer, Helen Newman, who works closely with the trustees. determining the policy of the Charity and for making major decisions regarding its authority of the Chief Executive Officer is made clear and under which certain key decisions affecting the Charity are required to be referred back to the Trustees by the Chief Executive Officer. Operational management of the Charity under supervision of the Board and under these detailed terms of delegation is entrusted to the Chief Executive Officer and to certain named senior staff members. The Board of directors, the Chief Executive and the above members of the Charity's senior management team together comprise the key management personnel of the Charity and are together responsible for directing and controlling, running and operating the Charity on a day to day basis. Staff salaries are reviewed and, in view of the nature of the Charity, the Trustees benchmark against pay levels in other voluntary organisations of a similar size. Trustees are required to declare any conflict of interest to the Chair at every trustee meeting. The Trustees make a written declaration of their interests every year to the Company Secretary prior to the AGM. Appointment of trustees The appointment of Trustees is governed by the company's Articles of Association. The Chair and no less than five individuals are elected at the AGM. They normally serve for a maximum of two terms of three years but, by exception and with agreement of the board this can be extended for a third term of three years. Through the year the board may co-opt up to three individuals as Board members who then serve until election at the next AGM. Serving trustees The names of the trustees who served during the year and those who were in office at the date of this report are set out on page 1. Recruitment and training New trustees are recruited through various methods including trustee contacts, contacts with local voluntary organisations, advertising on appropriate websites and in the press. All new trustees are given a thorough induction as well as copies of key documents such as the Memorandum and Articles of Association, Trustee Handbook, the most recent trustees' report and audited financial statements and the latest monthly management financial statements. They are also required to complete a questionnaire designed to identify any conflicts of interest that may arise from personal relationships or membership of other organisations and to confirm that there 10
Age UK Barnet Trustees' Report for the year ended 31 March 2025 is no legal impediment to their becoming trustees. Existing trustees are requested to complete the questionnaire annually. Trustees are supported to pursue training opportunities to increase their knowledge and to develop their awareness and skills so they can contribute to a strong and effective trustee board. Risk management The Trustees periodically identify the major operational, financial and legal risks to which the Charity is exposed and a copy of the Charity's risk register, as amended from time to time, is reviewed by trustees on a regular basis. Measures are taken to manage the risks that have been identified. The trustees have a risk management strategy which comprises: • A risk and opportunities register • A review of the principal risks and uncertainties that the charity faces at least quarterly. • The establishment of policies, systems and procedures to mitigate those risks identified in the review; and • The implementation of procedures designed to minimise or manage any potential impact on the charity should those risks materialise. This work has identified that financial sustainability is the major financial risk for the charity. A key element in the management of financial risk is a regular review of available liquid funds to settle debts as they fall due, regular liaison with (a) the London Borough of Barnet to ensure that contractual income is paid promptly and when due to the Charity (b) the Charity's own bank in connection with cash flow management, and active management of trade debtors and creditors balances to ensure sufficient working capital by the charity. We work closely with London Borough of Barnet staff to ensure compliance with our contractual obligations including meeting quarterly key performance indicators and other measures so as to preserve the flow of contractual income then due to us under the LBB contracts in place during the year and subsequent years. A fundraising strategy is in place both for community fund raising including lifetime donations and for gifts by Will) and for raising funds from grant applications from grant making charities and foundations to seek to ensure that the Charity's sources of funding are properly diversified. Financial controls Appropriate internal control procedures in line with best practice are in place in line with recommendations made by the auditors and Age UK (the national charity). An annual budget is prepared and approved by the Trustees as soon as possible following the beginning of each financial year. 11
Age UK Barnet Trustees' Report for the year ended 31 March 2025 Detailed management financial statements are made available to the Trustees monthly. Statement of Trustees Responsibilities The trustees (who are also 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 Practice). Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the income and expenditure of the charitable company and its state of affairs at the end of that period. In preparing those statements the Trustees are required to: • select suitable accounting policies and then apply them consistently; • observe the methods and principles in Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102 second edition); • make judgements and estimates that are reasonable and prudent; • state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the tinancial statements; and • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. The opinion of the trustees is that the company is entitled to the exemptions conferred by Section 477 of the Companies Act 2006 relating to small companies. Auditors In accordance with company law as the company's directors, we certify that: so far as we are aware, there is no relevant audit information of which the charitable company's auditor is unaware; and as directors of the charitable company we have taken all the steps that we ought to have taken, in order to make ourselves aware of 12
Age UK Barnet Trustees' Report for the year ended 31 March 2025 any relevant audit information and to establish that the charitable company's auditor is aware of that information. Knox Cropper LLP were appointed auditors to the company and, in accordance with the Companies Act 2006, a resolution proposing that they be re-appointed will be put to the Annual General meeting. The financial statements were approved by the board on. 10 | 11|25.. and were signed on its behalf by: LOBt Lorraine Barnet KHlanger Rachel Hanger 13
Independent Auditor's Report to the members of the Age UK Barnet Opinion We have audited the financial statements of Age UK Barnet (the 'charitable company') for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its income and expenditure for the year then ended; • have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Companies Act 2006. Basis of 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 charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other information The other information comprises the information included in the annual report, other than the financial statements and our auditors' report thereon. The trustees are responsible for the other information. 14
Independent Auditor's Report to the members of the Age UK Barnet (continued) Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is 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, which includes the directors' report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and the directors' report included within the trustees' report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the trustees' report. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: • adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or • the financial statements are not in agreement with the accounting records and returns; or • certain disclosures of trustees' remuneration specified by law are not made; or we have not received all the information and explanations we require for our audit; or the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the trustees' report and from the requirement to prepare a strategic report. Responsibilities of Trustees As explained more fully in the Trustees' Responsibilities Statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 15
Independent Auditor's Report to the members of the Age UK Barnet (continued) In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. 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 it, 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: • The Charitable Company is required to comply with both company law and charity law and, based on our knowledge of its activities, we identified that the legal requirement to accurately account for restricted funds was of key significance. • We gained an understanding of how the charitable company complied with its legal and regulatory framework, including the requirement to properly account for restricted funds, through discussions with management and a review of the documented policies, procedures and controls. • The audit team, which is experienced in the audit of charities, considered the charitable company's susceptibility to material misstatement and how fraud may occur. Our considerations included the risk of management override. • Our approach was to check that all restricted income was properly identified and separately accounted for and to ensure that only valid and appropriate expenditure was charged to restricted funds. This included reviewing journal adjustments and unusual transactions. A further description of our responsibilities for the audit of the financial statements is loat corg auditorsresponsibities. This description formis part of our auditor s report. 16
Independent Auditor's Report to the members of the Age UK Barnet (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 auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report or for the opinions we have formed. Knox Cropper Ll Simon Goodridge Senior Statutory Auditor for and on behalf of Knox Cropper LLP Statutory Auditor 65 Leadenhall Street London EC3А 2AD 03/12/25 17
Age UK Barnet Statement Of Financial Activities For The Year Ended 31 March 2025 Notes INCOME AND ENDOWMENTS FROM Charitable activities Other trading activities Investment income Donations and legacies TOTAL INCOME Unrestricted Funds 511,310 42,950 54,116 526,857 1,135,233 EXPENDITURE ON Fundraising Charitable Activities Services for older people TOTAL RESOURCES EXPENDED Gains/ (losses) on investments NET INCOME/(EXPENDITURE) Gross transfers between funds NET MOVEMENT IN FUNDS Reconciliation of Funds: Total Funds brought forward Total funds carried forward 10 16 28,174 493,476 521,6504 4,929 618,512 28,747 647,259 772,204 € 1,419,463 The notes on pages 21 to 35 form part of these financial statements. Restricted Funds 2,384,113 2,384,113 2,302,609 2,302,609 81,504 (28,747) 52,757 266,848 € 319,605 18 2025 Total 2,895,423 42,950 54,116 526,857 3,519,346 28,174 2,824,259 4,929 700,016 700,016 1,039,052 € 1,739,068 Unrestricted Funds 547,385 33,081 34,716 29,474 644,656 28,510 498,995 527,505 8,051 125,202 125,202 647,002 € 772,204 Restricted Funds 2,25,013 2,257,013 2,194,969 2,194,969 62,044 62,044 204,804 € 266,848 2024 Total 2,804,398 33,081 34,716 29,474 2,901,669 28,510 2,693,964 2,722,474 8,051 187,246 187,246 851,806 € 1,039,052
Age UK Barnet Balance Sheet As At 31 March 2025 FIXED ASSETS Tangible assets Investments CURRENT ASSETS Current asset investments Cash at bank and in hand CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR NET CURRENT ASSETS NET ASSETS FUNDS Restricted Reserve Unrestricted Funds Designated General TOTAL FUNDS Notes 9 10 12 13 16 15 2025 18,023 194,949 212,972 76,105 632,268 1,166,807 1,875,180 (349,084) 1,526,096 € 1,739,068 319,605 758,987 660,476 1,419,463 £ 1,739,068 The notes on pages 21-35 form part of these financial statements. The financial statements were approved by the Board of Trustees on 10/11/25 signed on their behalf by: 2024 19,248 190,020 209,268 162,773 928.113 1,090,886 (261,102) 829,784 £ 1,039,052 266,848 258,987 513,217 772,204 € 1,039,052 and ..... Trustee LOKLAnE BARNET. DATE: 1c1 11| 2025 Company no. 3863045 RHanger Trustee RACHEL HANGER 19
Age UK Barnet Statement of Cash Flows Year ended 31 March 2025 2025 2024 Cash flows from operating activities: Net cash provided by/(used in) operating activities 822,798 Cash flows from investing activities: Dividends and interest from investments Purchase of investments Purchase of property, plant and equipment Profit/(Loss) on sale of fixed assets Net cash provided by/(used in) investing activities 54,116 (632,268) (5,952) (584,104) Change in cash and cash equivalents in the reporting period 238.694 Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period 928,113 1,166,807 Reconciliation of net income/(expenditure) to net cash flow from operating activities Net income/(expenditure) for the reporting period Depreciation charges (Gains)/losses on investments Dividends and interest from investments (Increase)/decrease in debtors Increase/(decrease) in creditors Net cash provided by/(used in) operating activities 2025 700,016 7,176 (4,929) (54,116) 86,668 87,983 822,798 27,510 34,716 : 445 35,161 62,671 865,442 928,113 2024 € 187,246 8,772 (8,051) (34,716) (91,679) (34,062) 27,509 20
Age UK Barnet Notes To The Financial Statements For The Year Ended 31 March 2025 1. PRINCIPAL ACCOUNTING POLICIES (a) Basis of Preparation The financial statements of the chanty, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) second edition', , Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and Companies Act 2006. The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to the financial statements. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. Age UK Barnet is a private company limited by guarantee incorporated in England and Wales. The registered office is Ann Owens Lane, Oak Lane, London, N2 8LT, United Kingdom. In applying the financial reporting framework, the trustees have made a number of subjective judgements, for example in respect of significant accounting estimates. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The nature of the estimation means the actual outcomes could differ from those estimates. Any significant estimates and judgements affecting these financial statements are detailed within the relevant accounting policy below. (b) Going Concern Trustees are required to consider whether the financial statements can properly be prepared based on it continuing as a going concern, and by this is meant, (inter alia), that the charity is financially stable enough to meet its obligations and continue its business for the foreseeable future. Foreseeable future is usually defined as the following 12 months. This matter is reviewed on a regular basis by the senior management and trustees, who have taken into account the following matters: • A significant proportion of the charity's income is the amount contracted for with the London Borough of Barnet - Neighbourhood Services contract and Dementia Support Services. • Income from Social Prescribing has grown in recent years in line with the service expansion and expenditure has grown commensurately. 21
(c) (d) (e) Age UK Barnet Notes To The Financial Statements For The Year Ended 31 March 2025 • Our improved success rate in applying for additional grants and expansion into new projects, all of which bring with them additional funding • The generous donation from the dr French foundation has significantly increased the charity's financial resilience. • Our level of Reserves. As part of our regular reviews of the charity's financial situation we are also mindful of the business continuity plan dated January 2025 and our strategic review of January 2025 On the basis of the above work and current financial position of the Charity, the trustees do not believe there are any material uncertainties about Age UK Barnet's ability to continue as a going concern. Contract income is accounted for in the period for which the contracts are awarded; contract income received in respect of future periods is deferred. Amounts recharged to other organisations are accounted for in the period in which the related expense is incurred; other incoming resources when they are receivable. Expenditure fundraising. Expenditure is allocated between costs of charitable activities and costs of The amounts allocated to each category comprise those costs which are directly attributable to that category together with an apportionment of support costs. Support costs are those costs that are not directly attributable to a single activity but provide the necessary organisational support for all the charity's activities. The bases of allocation of support costs are explained in note 7(b). Governance costs comprise the costs of external and internal audit, legal advice for the trustees on corporate matters and those associated with constitutional and statutory requirements. They include an apportionment of the salaries of certain staff Tangible fixed assets Tangible fixed assets costing less than £500 are written off in the statement of financial activities in the period in which the expenditure is incurred. The cost of other tangible fixed assets is capitalised and depreciated over the estimater useful lives of the assets, as follows: Computers and software 3 years Motor vehicles 3-7 years Office, furniture & equipment (acquired up to 31 March 10-20 years 2018) Office, furniture & equipment (acquired after 31 March 5 years 2018) 22
(f) Age UK Barnet Notes To The Financial Statements For The Year Ended 31 March 2025 The resulting net book values are reviewed at each balance sheet date and additional amounts are written off if appropriate. Grants received for the purpose of acquiring tangible fixed assets are credited to a restricted fund at the time of receipt, as is the estimated cost of assets that are directly donated to the charity. Depreciation of all such assets is charged against the restricted fund concerned. Investments Investments are stated at the mid-point between the manager's bid and offer prices for units. Current asset investments are a portfolio of cash deposit accounts with either a fixed term or notice period exceeding 3 months. They are stated at cost. Interest is receivable when the deposits mature. (g) (h) (i) Recognition of liabilities Liabilities are recognised in the financial statements when goods and services have been delivered or when there is considered to be a reasonable probability that a contingent liability will crystallise. Transfers between funds Transfers are made from general unrestricted funds to restricted funds to meet an actual or anticipated deficit on any of the latter; should the deficit arise through the late receipt of a grant and thus prove to be temporary; the transfer is reversed in the following year. Transfers are made from general unrestricted funds to designated funds to meet any anticipated shortfall under contracts that will or are likely to be terminated during the following year or to set aside funds for specific purposes. Financial instruments The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the 23
(k) Age UK Barnet Notes To The Financial Statements For The Year Ended 31 March 2025 transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled. Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. Employee benefits Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee. 24
Income from charitable activities Neighbourhood Services Dementia Support Services Henry Smith Social Prescribing Scams Prevention Project Age Friendly Barnet City Bridge ICB Ageing Well Digital Inclusion Outreach-NLCF Household Support Fund Other Projects Comprising: Local Authority income - London Borough of Barnet Grants Charges to clients for services Age UK Barnet Notes To The Financial Statements For The Year Ended 31 March 2025 Unrestricted Funds 2025 511,024 511,310 422,052 89,258 € 511,310 Restricted Funds 2025 385,845 50,900 835,378 50,600 50,000 77,769 55,768 18,000 725,000 134,853 2,284,113 320,676 1,065,639 988,423 € 2,284,113 Total 2025 511,024 385,845 50,900 835,378 50,600 50,000 77,769 55,768 18,000 725,000 135,139 2,895,423 330,051 1,487,691 1,577,681 £ 2,895,423 Unrestricted Funds 2024 545,358 2,027 547,385 414,048 40,750 92,587 € 547,385 25 Restricted Funds 2024 352,663 51,000 773,012 28,970 50,000 56,760 29,872 744,367 170,370 2,257,013 1,080,587 1,068,211 108,215 € 2,257,013 Total 2024 545,358 352,663 51,000 773,012 28,970 50,000 56,760 29,872 744,367 172,397 £2,804,398 1,494,635 1,108,961 200,802 € 2,804,398
- Other trading activities Age UK Partnership Income Fundraising Other income Investment income Interest received Investment income 5. Donations and Legacies Donations and gifts Age UK Barnet Notes To The Financial Statements For The Year Ended 31 March 2025 Unrestricted Funds 7,500 34,604 846 42,950 Restricted Funds - Total 2025 7,500 34,604 846 42,950 Total 2025 13,803 40,313 54.116 13,803 40,313 54,116 Unrestricted Funds Restricted Funds Total 2025 526,857 526,857
- 526,857 526,857 Unrestricted Funds 5,000 23,046 5,035 33,081 Restricted Funds UnEticted Restricted 14,699 20,017 34,716 Unrestricted Funds Restricted Funds 29.475 29,475 26 Total 2024 E,000 23,046 5,035 33,081 Total 2024 14,699 20,017 34,716 Total 2024 29,475 29,475
6. Age UK Barnet Notes To The Financial Statements For The Year Ended 31 March 2025 Expenditure on charitable activities charitable activities Services for older people Unrestricted Funds 489,139 Neighbourhood Services Dementia Support Services Henry Smith Social Prescribing Scams Prevention Project Age Friendly Barnet City Bridge Household Support Fund Other Projects 4,337 493,476 Restricted Funds 350,493 56,881 835,379 38,887 51,247 83,991 725,000 160,733 2,302,609 Total 2025 489,139 350,493 56,881 835,379 38,887 51,247 83,991 725,000 165,069 2,796,085 Unrestricted Funds 497,360 Restricted Funds 1,636 498,996 351,552 755,507 23,035 744,367 320,506 2,194,968 27 Total 2024 497,360 351,552 755,507 23,035 744,367 322,142 2,693,964
Age UK Barnet Notes To The Financial Statements For The Year Ended 31 March 2025 7. TOTAL EXPENDITURE a) Employment costs Salaries Employer National Insurance contributions Pension contributions 2025 Total E 1,675,122 138,415 34,172 1,847,709 Actual numbers Older people services Support staff 2025 67.0 7.0 74.0 2024 60.0 6.0 66.0 2024 Total € 1,577,631 132,100 29,465 1,739,195 Full time equivalents 2025 2024 48.5 4.6 47.2 3.9 53.0 51.1 1 employee earned £60,000 per annum or more during the year (2024: 1). The National Council for Voluntary Organisations (NCVO) recently published an enquiry report into charity executive pay and recommends that charities go further in terms of disclosure and name the highest paid staff. In the interest of transparency, the Charity hereby discloses that in 2024-25, the Chief Executive Officer's salary was in the range between £60,000 and £70,000. As indicated in the Directors Report, the Chief Executive Officer (who is also the Company Secretary) is Helen Newman. The Charity trustees were not paid or received any other benefits from employment with the Charity in the year (2024: Nil). They were reimbursed expenses of Enil during the year (2024: Nil). No trustee received payment for professional or other services supplied to the charity (2024:Nil). The key management personnel of the charity were the Chief Executive Officer. Total salaries and wages of the key management personnel of the charity were £71,275 (2024: £67,971). Total employer pension contributions for the key management personnel of the charity were £2,201 (2024: £2,201). 28
Age UK Barnet Notes To The Financial Statements For The Year Ended 31 March 2025 b) Expenditure analysis Raising Funds Fundraising Charitable Activities Neighbourhood Services Dementia Support Services Barnet Connect Social Prescribing Scams Prevention Household Support Fund Other projects Direct Costs Support Costs 28,174 430,675 284,545 329 713,452 32,457 706,942 300,452 2,468,852 2.497,026 67,839 65,948 121,927 6,430 18,058 47,031 327,233 327,233 Support costs largely comprise premises costs and support staff salaries. Total 2025 28,174 498,514 350,493 329 835,379 38,887 725,000 347,483 2,796,085 2,824,259 DirectR Costs 23,981 396,561 267,129 282 688,507 17,475 719,534 260,532 2,350,020 2,374,001 29 Support Costs 4,529 97,515 87,708 67,000 5,560 24,833 61,328 343,944 348,473 Total 2024 28,510 494,076 354,837 282 755,507 23,035 744,367 321,860 2,693,964 2,722,474
Age UK Barnet Statement Of Financial Activities For The Year Ended 31 March 2025 Included in Support costs are Governance costs comprising: Salaries Audit Fee Other Trustee Expenses 2025 3,120 9,601 - 12,721 2024 4,040 11,037 47 15,124 8. TAXATION The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes. 9. TANGIBLE FIXED ASSETS Cost As at 1 April 2024 Additions At 31 March 2025 Accumulated Depreciation As at 1 April 2024 Charge for the year At 31 March 2025 Net Book Value 31 March 2025 Net Book Value 31 March 2023 Motor vehicles 69,758 - 69,758 Computers & Software € 30,744 - 30,744 Office furniture & equipment 31,193 5,952 37,145 Total 131,695 5,952 137,647 57,033 5,271 62,304 7,454 12,725 27,995 862 28,857 1,887 2,749 27,419 1,044 28,463 8,682 3,774 112,447 7,177 119,624 18,023 19,248 30
Age UK Barnet Statement Of Financial Activities For The Year Ended 31 March 2025 10. INVESTMENTS Market Value At 1 April 2024 Gain on revaluation At 31 March 2025 2025 2024 190,020 4,929 E194,949 181,969 8,051 £190,020 The investments comprise COIF Fixed Interest Fund income units which had a historic cost of £206,105. 11. DEBTORS 2025 2024 Income receivable Prepayments 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE Trade creditors Taxation and social security Accruals and other creditors Deferred income 13. DEFERRED INCOME Balance at 1 April 2024 Amount released to incoming resources Amount deferred in the year Balance at 31 March 2025 76,103 2 €76,105 2025 15,146 41,902 232,728 59,308 £349,084 2025 39,821 (39,821) 59,308 £ 59,308 162,287 E162,773 2024 19,316 33,597 168,367 39,821 € 261,102 2024 £ 39,821 31
Age UK Barnet Statement Of Financial Activities For The Year Ended 31 March 2025 15. UNRESTRICTED FUNDS 31 March Incoming Resources Transfer Invest- 31 March 2024 resources expended between ments 2025 funds € € € Designated funds Repairs Special Projects Dr French 75,646 183,341 258,987 - 500,000 500,000 ... 75,646 183,341 500,000 758,987 Unrestricted funds General funds 513,217 635,233 (521,650) 28,747 4,929 660,476 172,204 1,135,233 (521,650) 28,747 4,929 1,419,463 Designated funds are as follows: Repairs/Property fund The repairs fund has been set aside to meet expenditure on repairs and maintenance of premises and vehicles for which the charity may be responsible in future. Projects fund Previously trustees had set aside funds to mitigate the impact of agreed reductions in our Neighbourhood Services contract and to provide a strong foundation for post pandemic work. The charity's success in achieving its strategic fundraising aim - to diversify income streams by securing funding from trusts and foundations and from other local sources - has meant we have not had to significantly deplete this designated tund. However, we are working on plans to develop a programme of activities and projects aimed at older men who we know are at a particular risk of loneliness and isolation and to look at the viability of a service offering support with home admin and other tasks. Dr French Fund This has been established following the generous gift from the Dr French Foundation. We are developing specific projects with this including an expansion of. our befriending service, a possible second vehicle and other activities such as bereavement support to reduce loneliness and isolation and which will continue the work of the Dr French foundation. 32
Age UK Barnet Statement Of Financial Activities For The Year Ended 31 March 2025 Comparative information in respect of the preceding period is as follows: 31 March Incoming Resources Transfer Invest- 31 March 2023 resources expended between funds ments 2024 € € € Designated funds Repairs Special Projects 15,646 243,341 258,987 : ... 15,646 243,341 258,987 Unrestricted funds General funds 388,015 644,656 (527,505) 8,051 647,002 644,656 (527,505) 8,051 513,217 772,204 16. RESTRICTED FUNDS 31 March 2024 Incoming resources Dementia Support Services Henry Smith Dementia/Memory Matters Social Prescribing Scams Prevention Household Support Fund City Bridge Personal Grants Other Projects 44,026 Resources expended f (349,200) 30,191 28,863 21,860 12,328 47,509 82,071 394,878 50,900 27,968 835,392 50,600 725,000 (56,830) (7,164) (836,879) (38,728) (724,401) Transfer Invest- 31 March between funds ments 2025 E € 89,704 (5,930) 50,996 : : 27,376 33,732 599 - 266,848 68,062 231,313 2,384,113 (83,575) (196,457) (28,747) (2,293,234) (28,747) - (3,185) 47,509 88,180 319,605 Social Prescribing. Age UK Barnet employs Link Workers who work in the GP practices in the borough and the team has continued to expand. All costs for Link Workers are reimbursed by the Primary Care Networks (PCNs) with funds drawn down from NHS England. Other projects We are grateful to the following for additional funding received during the financial year. • London Borough of Barnet - Household Support Fund The Charity of Sir Richard Whittington - Walk and Talk project • Age UK National - cost of living special fund-Outreach project 33
Age UK Barnet Statement Of Financial Activities For The Year Ended 31 March 2025 • Age UK National - Scams Awareness and Prevention project • Information and Advice - supported by Emmanuel Hospital Charity • City Bridge - Activities to reduce loneliness and isolation • Henry Smith- Dementia Befriending • Central London Community Healthcare - Frailty MDT Some income for these projects was received during the year under review and will be spent in 24-25. This has led the charity to a deficit budget position for 24-25. Comparative information in respect of the preceding period is as follows: 31 March 2023 40,243 Incoming resources € 348,905 Resources expended Transfer between Invest- 31 March funds ments 2024 E Dementia Support Services Henry Smith Dementia/Memory Matters Social Prescribing Scams Prevention Household Support Fund City Bridge Personal Grants Other Projects (345,122) 30,191 51,000 (57,390) 28,468 (12,646) 7,851 773,012 16,250 28,970 (752,000) (23,359) : - : 62,253 204,804 744,367 52,418 229,873 2,257,013 (746,923) (40,090) (507) (216,932) (2,194,969) = 44,026 (6,390) 46,013 28,863 21,860 (2,556) 12,328 47,509 75,195 266,848 17. ANALYSIS OF NET ASSETS BETWEEN FUNDS Tangible Fixed Assets Fixed investments Net current Assets/Liabilities Total Restricted Funds € 378,914 Designated Funds (59,309) 319,605 34 130,000 128,987 258,987 Unrestricted Funds 18,023 (313,965) 1,456,416 1,160,476 2025 Total 18,023 194,949 1,526,096 1,739,068
Age UK Barnet Statement Of Financial Activities For The Year Ended 31 March 2025 Comparative information in respect of the preceding period is as follows: Restricted Funds Designated Funds Tangible Fixed Assets Fixed investments Net current Assets/Liabilities Total 306,670 (39,821 ) 266,849 130,000 128,987 258,987 Unrestricted Funds € 19,248 (246,650) 740,618 513,216 2024 Total € 19,248 190,020 829,784 1,039,052 18. FINANCIAL COMMITMENTS At 31 March 2025 the charitable company had future minimum lease payments under operating leases as follows: 2025 2024 € Land & buildings Expiry date: In Less than 1 Year In 2-5 Years 31,998 33,597 65,595 30,471 62,465 92,936 19. RELATED PARTY TRANSACTIONS There were no related party transactions in the financial year. 20. MEMBERS LIABILITY The company is limited by guarantee and has no share capital. The liability of each member in the event of winding up is £1. 35