ilc International Longevity Centre UK International Longevity Centre UK A company limited by guarantee Report and financial statements for the year ended 31 March 2022 Company NO3798902 Charity NO 1080496 International Longevity Centre UK Financial Statements for year ended 31 March 2022 Index to the report of the Trustees and financial statements for the year ended 31 March 2022 Page Charity Information Report of the Trustees Independent Auditors, Report Consolidated Statement of FinanciaL Activitses 3-16 17-19 20 21 Consolidated Balance Sheet 22 ststement of Cash Flows and Consobdated Statement of Cash Flows 23-31 Notes to the Financial Statements International L￿gevity Centre UK Flnanclai Statements for year ended 31 March 2022 CHARITY INFORMATION The Trustees are pLeased to present their report together wtth the financiaL statements of the charity and its subsidiary for the year ended 31 March 20212 COMPANY NUMBER 3798902 CHARITY NUMBER 1080496 PRINCIPAL OFFICE & REGISTERED OFFICE Vintage House. 36-37 Albert Embankment. Vauxhall. London, SEI 7TL DIRECTORS The directors of the charitable company (the chartyl are its Trustees for the purposes of charity Law and throughout this report are collectively referred to as the Trustees. The TrUSt￿S serving during the year and since the year-end were as follows: K Bounds (Treasurer) J Morris S Crawford G Ryiand A Scarfe M Gr&n Ichairl D Kenwood A Scurfieid J Forster (resigned 31 December 2021) D Sturdy T Lianwarne Iresigned li March 2022) N Waterson (Vice chair. appointed April 2021) The Trustees have no beneficial interest in the company and are not remunerated. All Tnjstees are members of the company and guarantee to contribute to the assets of the company in the event of it being wound up such amounts as may be required not exceeding £10. The number of such guarantees as at 31 March 2022 was ll12021-￿). The Baroness Gr￿ngr(￿ O.B.E. (from i June 20221 IDied 23 June 20221 The Baroness Gr￿ngrOSS O.B.E. luntil 31 May 2022) D A Sinclair Ifrom i June 20221 EXECUTIVE PRESIDENT CHIEF EXECUTIVE MANAGING DIRECTOR D A SincEairluntil 31 May 2022) CAF Bank Ltd 25 Klngs Hill Avenue Kings HILL West MaLting Kent ME19 4JQ BANKERS AUDITORS Michael Tuckey FCA FCMA Chartered Accountant The Dutch House 24 The Downsway Sutton Surrey SM2 5RN Internation& Longevity cent￿ UK Financial Statements for year ended 31 March 2022 REPORTOFTHETRUSTEES Objectives and Activities Publlc Benefit In reviewing our objectives and activities. the TruSt￿S have kept in mind the Charity Commission guidance on public benèfiL Why we exlst We are the UK'S specialist think Lank on the impact of Longevity on socEty, and what happens next. We believe society has to adapt now so we can alL enjoy the benefits of longevity. We expLore the big issues that are impacting society. with an emphasis on these key questions.. How do we maximise the benefits of longevity for individuals, the economy and society? How do we make sure longer tives a￿ gocKI for everyone? How do we make sure wlicy and practice works for tomorrow's older people as weLI as today's? WIK> we are The ILC was established in 1997. as one of the f￿ndIng members of an intemationaL nelwork on Longevity. We have unrivalled expertise in demographic change. ageing and longevity. This is our 25 year and we are proud to be able to demonstrate our own longevty. The ILC has ￿ staff incLuding researchers who also work with exiemaL consuLtants. We atso have a Strategic Advisory Board along with a panel of Insight Experts. made up of worid-renowned thought Leaders and experts from government business, academia and the third sector on the many strands of longevity. What we do We transfomi research into wiicy and business practice. Our adivities include conducb'ng research,. coILaborating with experts and industry leade￿ pobcy analysis., and convening decision-makers. planners. policy-makers and innovator& Our events include seminars, presentations, conferences and workshops. IntemationaL Longevrf(y Centre UK Financial Statements for year ended 31 March 2022 Achievements and Performance We c￿llenge the way (yganisations think. We ask the important questions. We have strong relationship with expert and irKJustry teaders. We tum research into recommendations for pobcymakers and buinesse We support policy makers and bu5ines5 to tum recommendations in to practice. Changing behaviours W• help decisic makers understand the impbcations of longevity. Engaging the right people Saying the right things We begin conversations. We challenge thinking. We bulld a consensu& We build a sense of urgency. a5 experts. Building a greater understanding of issues and opportunities presented by longevity Generatlon Var. enera to increase take ccination Social media is potentially a powerful tool for public health messaging. as well as for misinformation. But too few public heaLth campaigns are consistenlly evaluated. so there is knttLe understanding about how effective they actualLy are. Not alL generations use sctial media in the same way. and there's undoubtedly an age divide in terrrts of vthich platforms older and younger people use. The ILC set out to test whether younger wpLe can influence the heaLth LEhaviours of oLder people online in underserved communities. We ran an ad campaign and conducted suNeys and focus groups. With the support of a grant from the Vaccine Confidence Fund. we found that social media advertising can be a cost-effective way of engaging older people in underserved communities with vaccination. Our ad campaign appeared to increase uptake of the flu and pneumococcal vaccine cost-effectively (according to NICE guidancel. with i.p3 peopLe cticking on a v￿C￿ne Exy)king bnk. OveraiL each booking click cost an average of £45.21 for older adults who saw the flu ads- fal￿ng to just £￿.50 per booking click for older audiences who saw pneumo¢￿￿l adverts. We also found that the ad campaign was effective in engaging aLL ages, but we were not able to track the actions of younger generations. 76% of Lsers who saw the ads engaged. The clickthrough rate was 2.5 times better than the average cliclrthrough rate for healthcare sector ads in 2021 We think our ad campaign was relatively successfutty because bt was designed in consultation with our target audience and based on considerable research. Based on these findings. we made a recommendation to the UK govemment to invest in sociaL media campaigns to promote routine vaccination among oLder adults. particuLarLy for those bving in deprived areas. Ads encouraging greater uptske of less weLi-known vaccines, are ￿kelY to have the greatest impact. Intematicx*l Longevlty Centre UK Financial Statements for year ended 31 March 2022 'We applaud this research, it is outstanding. We are encouraged by the remarkable impact to increase vaccination bookings." Funder of the Gen Vax programme Our research has been selected out of 24 other projects to be featured at the 2022 World Health Assembly, the decision-making body of the WHO. Have You Discussed The Jab Yet? Image used in ILCS Fa￿t￿X)k and Instogram campaign me While people with dementia report shopFing as one of th￿r favourite activtties. the design of the high street sometimes makès it difficuLL From forgetting a PIN number to accidentalLy shopLifting and from being exposed to scams to navigating around a town centre, research suggests that our high street isn't dementia friendly enough. COVID-19 may have increased the chaLlenges faced by people with dementia, with for exampLe. more retailers not accepting cash and reports that ontine and offline scams may have increased. Through this year-Long project supported by abrdn Financial Faimess Trust and in partnership with the University of LiverpooL, we have b&n SF￿<1ng to people dementia and their carers about the probLems they face when shopping. We have also SFX)ken to professionaLs working in retail. banking. Leisure/travel and housing with care settings to better understand the big probLems which need soLving. We set up an impressive advisory group of experts and have engaged a number of Members of the Scottish Parliament and the UK Cabinet Office. We will present the problems to retaiLers, high street managers and other companies and then work with designers. start-ups and policy experts to identify policy and business practice solutions. We want to understand if peopLe with dementia over or under-spend relative to people without dementia alongside this. The finaL report will be published in October 2022 in StirLtng and Edinburgh. International Longevlty Centre UK Financial Statements for year ended u March 2022 An exciting next step for the ILC to fvrther thls wotl( next yearwiiL be the recruitment of a Retail Impact Fellow, fvnded by the University of Stirling inspiring and engaging retsiiers to pian for healthy ageing. 2. Saying the right things eRev . Not If Iwt when? Our research on the State Pension Age has rec￿Ved attention from the Department for Work and Pensions and has b￿n covered over 30 times. including in severaL national publications such as the Financial Times, Mirror. Telegraph and The Sun, who referred to ILC as a 'top think tanw. The statistics from this research have b￿n covered a further li times in the Express since the Launch. which shows that our work has become their go-to source of evidence when writing about this subject. We ran an webinar, attended by Baroness NevILi￿RO1fe ILead Independent Reviewer on Stste Pension Age Review) who said this Wds the first event of this kind she has been invited to since her appointment. Feedback from the event was eX￿LLenL 'What a fab. fab. event" (Emily Hoizhausen OBE. Director of PoLicy and Public Affairs, Carers UK). Work for rrow. Innov Across the world, oLder workers make up a growing proportion of the workforce - across the G20. 1 in 3 workers is aged 50 and over, and this is set to increase to 4 in io by 2040. "I canl tell you how fvbulous It was having Mims Davies read out our name last week. It s a small thing that Ma1￿ a huge differenc& You are using your platfomi to help elevate and support others." Brave Starts Work for Tomorrow Finallst The ILC ran a competition to firKI innovations across the wortd vthich help empLoyers harness the potential of workers, regardLess of age. The panel of judges was made up of globaL experts and business leaders across the fvture work and the shortList was announced by Employment Minister Mims Davies MP at our Future of Ageing conference in November 202L The shortlisted innovations were viewed on YouTube over 5.500 times. the website was viewed over 16.000 times and we received over 60 submissions from across the world. This demonstrates the need for innovators in this space to showcase their work and the lack of awareness among employers akx)ut practicaL business solutions which currently exisL 3. Engaging the right people Future of Ageing: Reimagining ageing in a changing world We had a diverse range of speakers incLuding authors, activists, academics. campaigners and people with lived experiences, Mrith organisations across the world. UK Govemment, business, charities and global thinkers. Most notably. two ministers spoke IGiiiian Keegan MP. Minister of State for Social Care and Mental Health and Mims Davies MP, Minister of State for EmpLoyment). Internati￿ Longevity Centre UK Financol Ststements for year ended > March 2022 "Govemment, business, media, Cl￿ritieS, academics and global thinkers all at the tabl&" Austair McQueen. Aviv& Strateglc Advlsory Board member y •• Photos from the ILCS Future ofAgeing conference 2021 Partnershlp wlth the Coalition for LIfe-c￿rSe Immunisation This year. trie ILC formed a partnership with the Coalition for Lrfe-course Immunisation ICLCII. seconding a member of staff to help coordinate their research projects and poticy engagement work This has worked weLL with a poitcy report. 'Covid and beyond.. Leaming from COVID-19 to improve vaccination campaigns being discussed at the European PartiamenL Based in Belgium. CLCI and the ILC have secured funding for a European-level programme mapping pneumococcal vaccination uptake. The partnership has also suCc￿ded in engaging sèveral Members of the European Partiament, an important step towards setting up an interest group of MEPS. Increasing vaccinatim uptske We have run several other programmes this year focused on practice and policy change to increase vaccination uptake, particularly in underseNed communities in the UK. Europe and worLdwide. "Integral to success was the phenonRna£ amazing engagement from charities and public health stakeholders. Across MSD, this project is posed as best pmctlce." Funder of the ReducirvJ the Risk programme 'Ready to rolL out.. Improving uptake of routine immunisation in a post-parKlemic worLd'. funded by MSD, engaged several Members of Partiament including Dr Lisa Cameron MP (Chair of the APPG on HeaLth), International Longevity Centre UK Financial Ststements for year ended 31 March 2022 who invited the ILC to present the briefing to the APPG. 'Reducing the Risk.. improving vaccine uptake across at risk groups,, funded by MSD. engaged tweLve UK charities to gain endorsement for a good practice guide. 4. Changing behaviours Deiiverlng Preverrtlon In an Agelng World FoLtowing our year-long 'Prevention in an ageing worLd' programme in 2020 which made the case for why we should prioritise prevention. the ILC conducted research and engaged with stakehoLders across the globe to understand how we can deliver prevention across the Life course. Money taU(s ilc .. Home Instecxl IJ GILEA We tend to see the highest healthy Ilfe expectancy in countries where the state pays for a greater share of health spending. https://ilcuk.org.uk/delivering- prevention-in-an-ageing-w(Yld/ We have engaged and built relationships with 81 industry Leaders. national and international NGOS. NationaL Governments. inter-governmental organisations. academics and heaLthcare professionals in our consuLtstion process. and many more through our events. media and engagement work Among them include the Department of IntemationaL Trade. with whom we have partnered to run events, foLLowing our input into their Healthy Ageing report. This is a good example of a Long-term relationship where ILC has b￿n supporting their heaLthy ageing agenda °The UK has pmvided international leadership in the ageing agenda, with the Intemational Longevity Centre UKprovoking discussions and pioneering solutions amund the globa" Department for International Trade. Partner Intemationai L¢￿eVIty Centre UK Financial Statemenis for year ended 31 Mar¢h 2022 The ILC has established itself at the forefront of the global prevention debate.. Recent changes to the NICE guidetines recommending that an adult's waist should be less than hatf their height to reduce health risks came as a result of ILC'S policy recommendation. We helped convince G20 Ministers in Japan to commit to a joint focLLS on the prevention of ILI health across the Life course in 2019. We informed the UN'S joint Decade of Healthy Ag￿ng (2020-20301. as weLi as the WHO Immunisation Agenda 2030. which Led to a new chapter on Life course and adult immunisation being added. We fed into the Departrnent of Intemational Trade's IDIT) White Paper on Healthy Ageing. We were selected to write a policy paper that informed the G20 in Italy on the role of prevention in global heaLth and the management of the COVID-19 pandemic. 'The next three stmtegic priorities focus on ensuring the delivery of immunisation services throughout the life course to alL.." WHO Immunizatlon Agenda 2030 Over the next three years, we ptan to develop a Global Health. Weubelng and Preventlon Index. which we want to sit at the heart of global policy and political engagement on preventlon and vaccinatton across the G20. We will be launchlng this work at our global prevention summlt In France in 202Z Intemational Longevity Centre UK FirwKiai Ststements for year wtded 31 March 2022-_ Ourpubli¢ations and events Our fulL portfolio of pubtications and events year can ￿ found below. Health & Care Events Jblic?titY Expert roundtable.. De￿VerIng prevention Delivering prevention in an ageing world: in an ageing wortd - Effectively utiLising Using technology effectiveLy - t￿hnologY Consultation paper Under the microscope.. Comparing Making the extra years count - countries, experiences of the COVID-Ig InequaLities in disability and dependèncy pandemic with increasing longevity Report launch.. The invisible epidemic - The invisible epidemic.. Rethinking the Rethinking the detection and trèatment detection and treatment of structuraL of structural heart diseasè in Europe heart disease in Europe Working group.. Improving immunisation coverage rates among older adults in The cost of inequality.. Putting a price on the UK - Getting Commi￿lOning right health Policy briefing ￿unCh.. Ready to rollout - Ready to roll out.. Improving routine Improving uptake of routine vaccination uptake in the UK. post- immunisation in a p0st-pandeM￿ UK pandemic Report launch: Reducing the risk - improviro vaccine uptake across at-risk Reducing the risk. Improving vaccine groups in the UK uptake across at-risk groups in the UK Webinar.. Data, bots and drones - Transforming access to heaLth through Years losL' Boosting bfe expectsncy technology through preventative health interventions Supper debate with Dr Lisa Cameron The Longevity of the RoyaL Family.. A tale MP.. Mental health across the knfe course of IN/0 dynasties Report launch.. Hitting new heighL%'. Improving waccination uptake among Hitting new heights.. Improving vaccination patients with chronic Cl￿dItionS across uptake among patients with chronic Europe conditsons across Europe Report launch.. Generation Vax - Generation Vax.. Leveraging Leveraging intergenerational relations to intergenerationaL reLations to increase increase vaccination uptake routine vaccination uptake Working Lunch.. Improwng vaccination uptake among patients with chronic Drink Wise Age Well England Legacy conditions ￿rosS Euro Workshops Up in smoke: The impact of smoking on health and economic activity Money talks.. Investing in proactive health measures to support healthy ageirlg Events Knowledge exchange workshop.. Creating inclusive communities - SociaL inclusion in housing with care and SUPFX)rt for older peopLe Virtual report launch: Inclusive neighbourhoods - Promoting S￿laL inclusion in housing wtth care and support t￿bliCatIonS IncLusive neighbourhoods.. Promoting social inclusion in housing with care and support for older people Irrfrastructure Finance & Wealth Publlcatlons Events io Intematlonai Longevity Centre UK Flnandal Statements for year ended 31 Mar¢h 2022 state Pension Age review.. How can we level-upisfe exFXtancy. HeaLth equals wealth.. Conservative Party Health equaLs weaLth'. Maximising the Conference breakfast roundtabLe longevity dividend in Spain Health equaL£ wealth.. How can the UK Health equats wealth.. Maximising the and Europe work together towards Longevity dividend in Germany heaLth agein IFA side event.. Investing in preventative heaLth to unLock a longevity dividend COVID-Ig in the UK and US.. Understanding the impact on insurance, retirement income and other financial services risks Not if but when: The demographic and fiscaL case for increases to State Pension Health equals weaLth. Maximising the longevity dividend in France Health equals weaLth'. Maximising the Longevity dividend in Italy Culture & Society Events Pubucatlons Global Alliance webinar. Why gender EnabLing age at work - How ageism and matters - Exploring the impact of gender , ableism overlap in the worlq)iace on health and wellbeing in an ageing world Report launch: The Longevity of sporting legen(ts The longewty of sporting legends Productivity Events Pubiicatlons Challenge workshop.. Work for tomorrow Innovating for an ageing workforce Work for tomorrow.. Innovating for an ageing workforce - Innovator drop-in session Work for tomorrow- Innovation pNtching sessons Work for tomorrow awards ceremony Webinar. The Long View - WILI changing demographi￿ Lead to more fle￿bLe workin lives? What happens neKL Events Publicatlons Partners webinar. What happens next in the ost-pandemic recovery. ILC Autumn Reception Future of Ageing 2021.. Reimagining ein in a chan world Internat￿nal Longevity Centre UK Financi& Statements for year ended 31 March 2022 Delivering our message The ILC continues to use its extensive networks. espeaally our ILC and ILC Global Aiiiance websites. social media and databases, to translate research into rx)licy. and disseminate ideas and solutions. The ILC works across all different sectors. especially govemmenL to address the urgent issues of Longevity and demographic change incLuding positive outcomes to the benefit of aLL Academlc partnershlps ILC conkn'nues to be affibated to University CoiLege London IUCL). rated in the top ten of the international university ratings. We work with a number of Academic institutions incLuding the University of SheffieLd, Kent University. John Hopkins University. Bristol University. NewcastLe University and the UniverstLy of Stirling. ILC Global Alliance The ILC is one of sixteen ILCS across the wortd. ILC continues to hold a prominent Frf)5iLion within the ILC Global AiLiance IILC GAI and sit on many of the ILC GA Committ￿S. Advisory Boards ILC works with members of our two committees. the Strategic Advisory Board and the Insight Experts. These committees were formed to engage better with advisors and experts who can he￿ us further ILC'S mission and work The Strategic Advisory tx)ard wiu provide guidance on the strategic direction of ILC,. and contribute to ILC'S thought Leadership on ageing and Longevity. The Insight Experts will constitute a group of experts whose puryx)se is to provide specialist knowLedge and cm-going advice across a range of research arKI F)oitcy area5 relevant to ILC. Ensuring that ILC is sustalnable as an organisation ILC continues to review our the needs of tx)th our staff bcKly and the Organisatic￿ as a whoLe whilst adapting to the changes in the way work in bght of the COVID-19 pandemic. We continue to take on university students for short-tern work placements as part of their universty courses. Intematlonai Longevity Centre UK Financial Ststements for year ended 31 March 2022 Financial Review Income from grants and donations amounted to £738.62512021- £639.8061 across a wÈde raroe of activities. This, taken t(yJether with the subsidiary company s opetations, ￿SUIted in a net Deficit of £ui.85012021 surplus - £88,3201. The free unrestricted reserves at 31 March 2022 stsyed within the reserves wlicy set by the Trustees. The total reserves at this date amounted to £409.13112021- £550,98￿. Resources expended on charitable activities lincLuding governance costs) were £989,36712021- £693,495) foLlowing the compLetion of a number of proJ'ect& In addition, gift aid receivable from the trading subsidiary was £109.77012021- £u6.998). The Company is limited by guarantee and is not entitLed to pay dividends. ILC-UK Ser￿ice5 Ltd ILC-UK Services Ltd is a wholLy owned trading subsidiary of the tharity and has the same accounting year-end date. For the year to 31 March 2021 it had a turnover of £236,69512021- £248.5381 and. after gift aid payable of £109.77012021- £u6.gg8). it made a net Loss of £97912021 loss - £5.og5}. Reserves Policy The Trustees have examined the requirement for fr￿ reserves which are those unrestricted funds not invested in fixed assets or otherwise committed. The Trustees have analysed the risks that the Charity runs and the need to cover temporary timing differences and shortfalls in restricted grants and donations and consider that the free reserves are at an appropriate leveL Investment Policy The Trustees have the Fx)wer to invest in such assets as they see fiL Given the current Level of free reserves the Trustees consider it appropriate to k￿p funds in interest bearing bank accounts. Plans for future periods Over the next year we intend to continue to prioritise our work on he￿Ing society adapt so everyone can aLL enjoy the benefits of longevity. Our research, p0￿CY work and events will take into account the impact of COVID on our priorities. We will continue to focus our work on delivering a society that wod March 2022 INDEPENDEKf AUDITORS. REPORT TO THE MEMBERS OF INTERNATIONAL LONGEwrY cE￿rRE UK We have audited the financial statements of IntemationaL Longevity Centre - UK for the year ended 31 March 2022 which comprise the Profit and Loss Account, Balance Sheet, statement of cash flows and the notes on pages 23 to 31 The financial reporting framework that has t￿en applied in their preparation is app￿.Cable law and United Kingdom Accounting Standard (Unlted Kingdom Generally Accepted Accounting practi￿). incLuding FRS 102 'The FinanciaL Reporting Standard appLicabLe in the UK and Republic of Ireland". This report is made soLeiy to the companvs members. as a tmxty. in accordance with s495 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditors, 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 company and the compary's members as a body. for our audrfc work for this reporL or for the opinions we have formed. Opinion on financial statements In our opinion the financial statements.. give a true and fair view of the stste of the group's and parent charitable companvs affairs as at 31 March 2022 and of its result for the year then ended,. have been properly prepared in accordance wtth United Kingdom GeneraLLy AC￿pted Practice applicable to smaller entities.. and have been prepared in accordance with the requirements ofthe Companies Act 2006. Basls for oplnlon We conducted our audit in accordance with International Standards cfft Auditing IUKI IISAS IUKII and applicable Law. Our restxjnsibilities under those standards are further described in the Auditor's ResponsibiLities for The Audit of Financial Statements of our report We are inde￿ndent of the company and group in accordance with the ethicaL requirements that are relevant to our audit of the financiaL statements in the UK. incLuding the FRC'S Eth￿[ Standard and we have fulfiLied our other responsibl￿tIeS in accordance wtth 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 wng concern In audtting the financial statements, we have concluded that the directors, use of the going concem 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. individuaLy or coliectiveLy. may cast significant doubt on the company's and group's abiLity to continue as going concems for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibllities and the resF)onsibiLtties of the directors with res￿ to going concem are described in the relevant sections of this reporL 17 Intemational Longevrfcy Centre UK Financial Statements for year ended 31 March 2022 Other InfomKrfion The other information comprises the information included in the annuaL reFXIrt other than financial statements and our auditor's report thereon. The directors 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 expiicitLy stated in our reFX)rL we do not express any form of assurance conclusion thereon. Our responsibits'ty 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 otherwise appears to materialLy misstated. If we identify such materkal inconsistencies or apparent materiaL misstatements, we are required to determine whether this gives rise to a material misstatement in the financial ststements themseLves If. based on the work we have performed, we conclude that ttrwe is a material misstatement of this other information. we are required to report that fact. We have nothing to report in this regard. Ownion on other matterprescribed by the Companles Act 2006 In our opinion. based on work undertaken in the course of the audit.. the information given in the Directors. Report for the financiaL year for which the financial statements are prepared is consistent with the financiaL statements, and the directors, report has been prepared in accordance wiLh applicable legal requirements. Matters on which we are required to report by except In the light of the knowLedge and understanding of the company and its enwronment obtained in the course of the audit, we have not identif￿1 material misstatements in the directors, report. We have nothing to report in respect of the foiLowing matters in relat￿n to which the Companies Act 2006 requires us to report to you rf. in our opinion.. adequate accounting records have not b*n kepL or retums 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 r£rords and retums,. or certain discLosures of directors. remuneration specified by law are not made., or we have not received aLL the information and explanations we require for our audiL' or the directors were not entitled to prepare the financial statements in accordance with the smalL companies regime and take advantage of the smaLi companies, exemptions in preparing the directors. report and from the requirement to prepare a strategic reporL ResPOn￿bIlItIeS ofDirectors As expkined more fully in the directors, resF)onsibibties statement the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such intemal controL as the directors detemine is ne￿sSary to enable the preparation of financial statements that are free from material misstatement. whether due to fraud or error. In preparing the financiaL statements, the directors are responsible for assessing the company's and group s ability to continue as a going concem. discLosing, as appLicabLe. matters related to going 18 International Longevty Centre UK Financial Statements for year ended 31 March 2022 concem and using the going concem basis of accounting unless the directors either intend to liquidate the company and group or to cease operations. or have no realistic alternative but to do so. Auditors'responsibilities for the audit of flnanclal 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 assuran￿ is a high LeveL of assurance. but is not a guarantee that an audit conducted in accordance with ISAS wLi always detect a materiaL misstatement when it exists. Misstatements can arise from fraud or error and are considered materiaL 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. As part of an audit in accordance wtth ISAS. we exercise professionaljudgement and maintain professional scepticism throughout the audit We aLso: Identify and assess the risks of material misstatement of the financiaL statements whether due to fraud or error. deggn and perfom audit procedures responsive to those risks. and obtain evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resuLting from fraud is higher than one resulting from error. as fraud may involve collusion, forgery. internal omis5￿n5. misrepresentations, or the override of internal control. Obtain an understanding of intemal controL reLevant to the audit in order to design audit procedures that are appropriate in the circumstances. bui not for the purpose of expressing an opinion on the effects'veness of the Company s intemal controL Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by managemenL Conclude on the appropriateness of management's use of the going concern basis of accounting and, based on the audit evidence obtained. whether a materiaL uncertainty exists related to events or conditions that may cast significant doubt on the Company's abilrfcy to conts'nue as a going concern. If we conclude that a material uncertainty exists. we are required to draw attention in our auditor's report to the related disclosures in the financiaL ststements or. rf such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However. future events or conditions may cause the Company to cease to continue as a going concern. We communicate with those charged with governance regarding. among other matters. the planned Scope and timing of the audit and significant audit findings. including any significant deficiercies in internaL control that we identify during our audit Michael Tuckey F.CA, F.C.M.A. Chartered Accountant & Senior Statutory Auditor The Dutch House Sutton, Surre SM2 5RN Date.. Ig Internatlonal Longevity Centre UK Financial Statements for year ended ￿ March 2022 Consolidated statement of financial activities (Including Income arKI Expenditure Account) for the year ended 31 March 2022 Unrestrl¢ied Restri¢ted funds funds Total 2022 Totsl 2021 Notes Incoming Resources from generated funds Voluntary incomè Grants and donations 7,663 730.962 738,625 639,806 Income from other trading activities: Net profit/lloss1 from subsidiary Gift aid receivable from subsidiary Investment income -979 109.770 ioi 19791 109.770 ioi 15,0951 146,998 106 Total In¢om• 116,555 730. 62 847.517 781.8 730.962 ,49 Net incomo/(expgnditure) and net movement In fun(ts for the year -ui,850 -14L850 88,320 Reconciliation of funds Total funds brought fonvard 550,981 550.981 462.661 TotaL funds carried foThvard 409,￿1 409,131 550,981 All of the company s operations are classed as continuing. The cOnso￿.dated statement of financial activities includes all gains and losses recognised in the year. The movement on reserves is shown above. The notes on Kx7ges 23-31 fomi tort of these conso￿ated￿nanc1al5taternents 20 Intemational Longevity Centre UK Financial Statements for year ended 31 March 2022 Consolldated balance sheet as at 31 March 2022 Group 2021 Charity 2021 2022 2022 FIXED ASSETS Tangible assets 836 1.8 INVESTMENTS 836 1,8 CURRENT ASSErs Debtors Cash at bank and in hand 295,897 337. 23 633,820 89.967 257,494 21, 21 579.215 180.461 .062 8u,523 815.650 CREDITORS Amounts falling due within one year io -225,525 1266,484) -170.883 1265.3191 NEf CURRENT ASSErs 408,295 549,166 408. .204 TOTAL ASSEfs LESS CURRENT LIABILITIES 0.981 408,334 549,205 FUNDS Restricted fijnds Unrestricted funds 550,981 408.334 .20 409.131 550.g81 408.334 549,205 The Trustees have prepared group firwicial statements in accordance wth sedion 398 of the Companie5 Act 2006 and section of the Charities Act 20￿ These financial statements are prepared in aCcOrda￿e with the special provisions of Part ￿ ofthe Companies Act relating to smau companies and constitute the annual financial stateynents required by the Companies Act2006 and are for circulation to members of the company. The consolidated financial statements were aw)roved by the board on M October 2022 and signed on its behalf by M Green Trustee The note5 on pages 23-N fon￿ part of these consolKlatedfinancial statements 21 Intwnatlonal Longevity Centre UK RnanciaL Statements for year ended 31 March 2022 ststement of cash flows and consolidated statement of cash flows for the year ended 31 March 2022 Notes Group 2021 Charity 2021 2022 2022 Net cash provlded by/(used in) operating activities 17 87.861 366.388 -312,441 418.687 Cash flows from investing actlvltles: Dividends, interest and rents from investments ioi 106 ioi 106 Purchase of property, plant and equipment Net cash / lused in) investing adivities ioi 106 ioi 106 Cash flows from financing activities Repayments of borrowing Cash inflows from new borrowing Receipt of endowment - Net cash provlded by/lused inl financlng activlties - Change in cash and cash equivalents In the reporting perlod -387.760 366.494 -312,340 418,793 Cash and cash equivalents at the beginning of the reporting period 72s683 359.189 634.062 215,269 Change in cash and cash equivaLents -387.760 366.494 -312,340 418.793 Cash and cash equivalents at the erKI of the reporting peri¢xl 337.923 725,683 32L722 634,062 The notes to the accounts are shown on poges 23- 22 International Longevty Centre UK Finan¢iai Statements foryear ended 31 March 2022 Notes to the financial statements for the year ended > March 2022 Accounting policies The principal accounting policies adopted. judgements and key sources of estimation uncertainty in the preparabon of the financiaL statements are as follows'.- al The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice appLicabLe to charities preparing their accounts in accordance with the Financial Reporting Standard appbcable in the UK and RepUb￿C of Ireland IFRS 1021 (effective i January 20W - (Charities SORP IFRS 10211. the FinanciaL Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) and the Companies Act 2006. Assets and liabilities are initialLy recognised at historical cost or transaction cost or transaction vaLue unless otherwise stated in the reLevant accounting Wicy note bl These financiaL ststements con501idate the results of the charity and its whoiLy owned subsidiary ILC-UK Services Ltd. A separate statement of financiaL activities and income and expenditure account are not prepared for the charity itself foiLowing the exemptions afforded by section 408 of the Companies Act 2006. cl Voluntary income received by way of donations and gifts is included in full in the Statement of Financial Actsvitses when received. dl Revenue grants are shown in the Ststement of Financial Actrvities in the year to which they reLate and when the conditions for receipt have been complied with. Where the grant has to be matched to a different period the deferred eLement is deducted from incoming resources and carried forward in ￿abl￿tieS el Grants in respect of capital èxpenditure are credited to a deferred income account and are released to the Statement of Financk3l Activities over the expected useful ￿VeS of the relevant assets by annual instalments. Restricted funds represent grants and donations wh￿h are allocated by the donor for specific purposes. Expenditure which meets the criteria is identified to the fund. together with a fair apportionment of management and suptK)rt cost g) Management and administration costs represent expenditure incurred on external audit. Legal advice for trustees and costs ass¢xiated with constitutional and statutory requirements, h) Depreciation is provided to write off each asset over its estimated useful life at 2sY per annum using the straight-iine basis. A review for Indicato￿ of impairment is carried out at each reporting date if there is concem over the carying value of an asseL Where the carrying value exceeds the recoverable amount the asset is impaired accordingLy. il RentsLs payabLe under operating leases are tsken to the profit and Loss account on a straight line basis over the lease term. jl Assets that cost more than £1500 are capitabsed at cost price. kl The charity only has financial assets and financiaL ￿abl￿tieS of a kind that qualfy as basic financial instruments. Basic financiaL instruments are inTtiaLLy recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amorbsed cost using the effective interest methcxl. 23 Intemationai Longevity Centre UK Financial Statements for year ended 31 March 2022 Grants arKI Donations Funders UnrestrIc￿ Restslcted Total Total funds funds 2022 2021 A2Dominion Addaction ALzheimerfs Society Amgen Anchor Hanover ARCO Bristol University Canterbury University City University of L(y)don Coalition for Life-course Immunisation Centre for the Study of Financial Innovation DunhilL MedicaL Trust EY Extra Care Charitsble Trust Foundation of Social Survey Co-op Gilead Sciences Europe Ltd GLaxo Smith Kline Home Instead ILC Global ALLiance Innovation Resource Centre for Human Resour￿S Kent University LegaL & General Merck Sharp & Dhome Corp Merck Sharp & Dhome IUK) Ltd Notting Hill Genesis Pfizer Royal London Sanofi Aventis Groupe Seqirus St James Place Standard Life Foundation 2.500 2,420 1.290 525 60.000 525 60.000 7,500 21700 23.700 31,450 2,500 .000 29.603 3.750 2.500 ,000 29,603 3,750 14,296 16.950 10.305 16,950 16,950 953 953 59.991 60,000 39,997 4.583 30,172 5,000 3,539 3,539 25.344 25,344 500 500 60,000 85.115 5.000 78.187 5,000 33,150 60,000 23,720 25.965 25,965 2.282 220.2u 222,496 50.000 50,000 66.000 66.000 389 3.926 3.926 188,485 188,485 730,962 738,625 639,806 Sundry donations University CoLLege London Vaccine Confidence Fund 2SO 2.930 7,663 Previous year TotaL 8,020 631.786 639,806 Intematw)nal Lmgevlty Centre UK FinaKiai Statements for year ended 31 March 2022 Net profit from trading activities of subsidiary The charity has a wholly owned trading subsidFary which is jrtorporat￿J in the UK. The cost of investment is £1. The principal activity of ILC-UK Services Ltd is the provision of consultancy seNices. A gift aid payment of £109.770 (2021- £M6.9981 to be made to the chartty was accrued at 31 March 2022. Accounts are fiLed with the Registrar of Companies. A summary of the trading results. which are included in the consolidated statement of financial activities. is shown beLow'. 2022 2021 Turnover Cost of sales Gross profit Other income Administrative expenses. including gift aid Loss for the year 236,695 248.538 236,695 118 1237.7921 248,538 30,217 {283,8501 Investment irKome 2022 2021 Bank interest receivable Expenditu￿ on charltabie activities 2022 2021 Project costs staff costs Travel and subsistence Telephone. post, stationery and office Sundries Govemance costs - audit f 332,444 622,003 7,061 14.002 10,257 3.600 989,367 64,847 593.353 1,263 18,683 11,750 3.600 693,4 25 International Longevity Centre UK Financial Statert￿ts for year ended 31 March 2022 Staff and Trustee remuneration 2022 2021 staff costs'.- Salaries and other costs Pension costs National Insurance 541,165 23.404 47.941 6￿.510 521.581 20.677 46,265 588,523 The number of empLoyees whose total empLoyee benefits, excluding pension contributions, exceed over £60,000, classified within bands of £10,000 is as foUow& 2022 2021 £60.000 - £69,999 £70.000 - £79,999 £80.000 - £89,999 Pension contributions relating to those staff eaming over £60.000 totaiied £4.322 in the current year 12021- £4,219). The key management personnel of the charity and the group comprise the trUst￿S, the Chief Executive, the Managing Director, and the Head of Research/Project& The total employee benefits of the key management personnel of the charTty and the group were £195.80212021- £181.8441. The average weekLy fvLL time equivaLent (￿E> number of employees during the year was made up as foiLows'. 2022 Number 2021 Number Charitable activities The Trustees did not receive any remuneration and there are no related party transactions. Tax on activities The company is a registered charity and as such is not iiabLe for Lixation on any profft in the year. Tangible assets Group Equipment Cost At i ApriL 2021 Additions Disposals At 31 March 2022 3.914 Depr8ciation At i April 2021 Disposals Charge for the year At 31 March 2022 2.099 15641 26 Intematlonal Longevity Centre UK Flnancial Statements for year ended 31 March 2022 Net Book Value At 31 March 2022 At 31 March 2021 Tanglble assets Equlpment Charity Cost At i April 2021 and 31 March 2022 Depreciation At i ApriL 2021 and 31 March 2022 Net Book Value At 31 March 2021 arKI 31 March 2022 Debtors., amounts failing due within one year Charlty 2022 2022 2021 zoa Grants receivable Amounts due from Subsidiary Company Trade and other debtors Project costs 122.970 32.041 122,970 32,041 iog,770 46,998 8,685 L422 16.06 6,858 57,926 16.069 67 180, 61 io. Creditors,. amounts failing due within one year Group 2022 Charlty 2022 2021 2021 Trade creditors Deferred income Amounts due to Subsidiary Company other creditors and accruals other taxes 16.243 19.292 70.400 207.789 ,801 18.006 32,950 207,789 13,513 107.155 10.380 ,977 .631 170,88 265.319 109.655 29,227 22 23.772 ,631 266.484 27 Intemational Longevlty Centre UK Fhwthl Ststements for Y￿ ended 31 March 2022 ii. Restricted funds Current Year At i April Incoming Outgoing At31 20a Resources Resources March 2022 Projects A TaLe of two dynasties CLCI Work agreement Confidence of vaccines Counting the cost of inequaitty Deitvering prevention in an ageing worLd Dementia and spending Dementia Primary & Communty Care GLobal Longevity dividend - Country profiles Health of Older People in Places ILC Partner Improving vaccination uptake Longevity of sporting legends Moving the margins Moving the needle Nascent Generations Network Safeguarding healthy ageing The Mayhew review Work for tomorrow 6.000 IL493 188,485 3.750 6.000 11,493 188.485 3.750 60.000 66,000 525 50.000 60,000 66,000 525 50.000 3,926 16,g50 18,llo 8,000 37.375 182,839 2,500 25,965 23.700 25,344 730.962 16.950 18.110 8,000 37,375 182.839 2,500 25.965 23.700 25,344 62 28 Intwnationai Longevity Centro UK Flnancial Statements for y•ar ended 31 March 2022 Restricted funds Previous Year Projects At i Apnl Incoming Outgoing 2020 Resources Resources At 31 March 2021 Adviser Champion Campaign Research Decade of healthy ageing Dementia Pridem Diversity in Care Environments Drink Wise. Age Well Programme Future proofing retirement housing Global Longevity dividend Delivering prevention in an ageing wortd ILC Partner InterNa￿sed and gendered ageism Making the extra years count Non-financial benefits of financial advice Reaching the unreachable Safeguarding healthy ageing Social WeLI-being across Ageing Nations Work for tomorrow 5.000 ,000 1,290 31,450 2.420 25.305 33.150 5,000 15,000 1.290 3L450 40,718 25,305 33.150 38.298 339.988 16,950 5.000 14.296 23.720 339.988 16,950 5,000 14,296 23,720 59,150 25.965 2,930 59.150 25.965 2,930 30.172 6u,786 30,172 670.084 29 International Longevity Centre UK Financial Statements for year ended y March 2022 Unrestricted funds 2022 Total 2021 Total Funds Tradlng Funds Balance at i ApriL 2021 549.205 1,776 550.981 424.363 Net Incoming/loutgoingl resour￿ for the year (J40.87 1979) -ui,850 6.618 Balance at 31 March 2022 408,334 797 409,131 0.981 13. Parent company results The parent company has tsken advantage of section 408 of the Companies Act 2006 and has not incLuded its own Statement of Financial Activities. The net outgoing resources for the year for the charity amounted to £140.87112021 net incoming resources - £93.4W. Penslon costs The charitable company operates a defined contributK)n pension %heme on behaLf of all its employees. The assets of the scheme are held separateLy from those of the employer in an independently administered fund. Contributions are paid based upon the recommendations of a qualified actLJary. The cost for thè year by the empLoyer was £23.40412021- £20.6771 Net outgoing resources of the group for the year This is stated after charging". 2022 2021 Depreciation Auditors. remuneration 979 5.og5 30 International Longevity Centre UK Flnancial Statements for year ended 31 March 2022 16. Commiiments At 3151 March 2022. the Group had total commitments under non-canceUabLe operating leases over the remaining life of those leases of £91.939(20￿ -£￿6.600) Group 2021 Charity 2021 2022 2022 Within i year 2 to 5years 6.600 9L939 156.600 17. Reconciliation of net Income/ (experKlilu￿) to net cash flow from operatlng activities Group Charity 2022 2022 2021 2021 Net income/lexpenditurel for the reporting periTr -141.850 88.320 -u0.871 93.415 Adjustments for. Depreciation charges Dividends, interest and rents from investments 979 lio 5.095 1106) iio 11061 Ilncrea*)/decrease in debtors Increase/ldecrease) in creditors Net cash provided by/lused inl operating activtties 205.930 94.902 -77,033 122,720 {40,95 178.177 194.4361 202.658 -387.861 366.388 12.441 418,687 18 General note International Longevity Centre UK is a private company bmited by guarantee and incorwrated in England. Its registered office and principal Pla￿ of business is Vintage House. 36-37 AU)ert Embankment, Vauxhall. London. SEI 7TL