ILC... International Longevity Centre UK International Longevity Centre UK A company Limited by guarantee Report and financial statements for the year ended 31 March 2024 Company N°3798902 Charity N°1080496 International Longevity Centre UK Financial Statements for year ended 31 March 2024 Index to the report of the Trustees and financial statements for the year ended 31 March 2024 Page Charity Information Report of the Trustees Independent Auditors, Report ConsoLidated Statement of FinanciaL Activities 4-18 19-22 23 24 ConsoLidated BaLance Sheet 25 Statement of Cash FLOWS and ConsoLidated Statement of Cash FLOWS 26-36 Notes to the FinanciaL Statements International Longevity Centre UK FinanciaL Statements for year ended 31 March 2024 CHARITY INFORMATION The Trustees are pleased to present their report together with the financial statements of the charity and its subsidiary for the year ended 31 March 2024 COMPANY NUMBER 3798902 CHARITY NUMBER 1080496 PRINCIPAL OFFICE & REGISTERED OFFICE The Foundry, 17 OvaL Way. London. SEII 5RR DIRECTORS The directors of the charitable company Ithe charity) are its Trustees for the purposes of charity Law and throughout this report are colLectively referred to as the Trustees. The Trustees serving during the year and since the year-end were as foLLows'. K Bounds (Treasurer) - resigned 12 JULY 2023 J Morris - resigned 12 JULY 2023 S Chhugani (Treasurer) - appointed 22 March 2023 H Panzarino - appointed 12 JULY 2023 S Crawford - resigned 30 June 2024 G Ryland A Evans - appointed 12 July 2023 A Scarfe T Fassam - appointed 12 JULY 2023 M Green (Chairl - resigned 12 JULY 2023 A Scurfield - resigned 12 JULY 2023 D Sturdy - resigned 12 July 2023 J SutherLand - appointed 12 JULY 2023 P Vandenbroucke - appointed 12 JULY 2023 N Waterson (Vice chair) - appointed as Chair 12 July 2023 P Green - appointed 12 JULY 2023 J Jackson - appointed 12 July 2023 D Kenwood - resigned 12 JULY 2023 S Lewis - appointed 12 July 2023 The Trustees have no beneficial interest in the company and are not remunerated. ALL Trustees 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 exc￿ding £10. The number of such guarantees as at 31" March 2024 was 012023-2024). CHIEF EXECUTIVE D A Sinclair BANKERS CAF Bank Ltd 25 Kings HilL Avenue Kings HilL. West MaLLing Kent MEI9 4JQ International Longevity Centre UK FinanciaL Statements for year ended 31 March 2024 AUDITORS Nyman Libson Paul LLP 124 FinchLey Road London, NW3 5JS International Longevity Centre UK Financial Statements for year ended 31 March 2024 REPORT OF THE TRUSTEES Objectives and Activities Public Benefit In reviewing our objectives and activities. the Trustees have kept in mind the Charity Commission guidance on public benefit. Why we exist ILC is the UK'S Leading authority on the impact of Longevity on society. We combine evidence, sotutions and networks to make change happen. We help governments, policymakers, businesses and empLoyers deveLop and implement solutions to ensure we aLL Live happier, healthier and more fuLfiLling Longer Lives. We want a society where we all live happier. healthier and more fuLfiLLing Longer lives, where tomorrow is better than today and where future generations are better off. ILC wants to heLp forge a new vision for the ioo-year Life where we aLL have the opportunity to Learn across our Lives and where new technology helps us contribute more to society. Who we are The ILC was established in 1997, as one of the founding members of an internationaL network on Longevity We have unrivaLled expertise in demographic change, ageing and Longevity. This is our 27" year and we are proud to be able to demonstrate our own longevity. The ILC has 14 Staff including researchers who aLso work with external consultants. We also have a Strategic Advisory Board along with a panel of Insight Experts, made up of world-renowned thought Leaders and experts from government, business, academia and the third sector on the many strands of Longevity. What we do We transform research into policy and business practice. Our activities include conducting research., coILaborating with experts and industry leaders: policy anaLysis', and convening decision-makers. pLanners, poLicy-makers and innovators. Our events incLude seminars, presentations. conferences and workshops. IntemationaL Longevity Centre UK Financial Statements for year ended 31 March 2024 Achievements and Performance We chalLenge the way organisations think We support poLicymakers and businesses to turn recommendations into practice We ask the important questions We have strong relationships with experts and industry Leaders We turn research into recommendations for policymakers and businesses Changing behaviours understanding,:: We help decision makers understand the impLications of longevity We build consensus We build a sense of urgency We begin conversations We challenge thinking We are seen as experts Engaging tho right people Saying the right things i. Building greater understandlng ;, We have positioned ourselves as experts on longevity, healthy ageing and planning fvr the future This year, we launched our Longevity White Paper - One Hundred Not Out. A Route Map for Long Lives - which sets out future challenges and opportunities for an ageing UK and the change we need to see by the next Government. As a resuLt, ILC has had increased requests to comment as experts in Longevity . 'Just back from Japan Iwhere I was speaking about longevityl) and had a chance to read your report - it is really excellent and I think captures the sheer complexity of the challenges in a way that is not overwhelming." Lynda Grotton. Co-Author. ioo-year life "Really enjoyed the report." Alice Thomson. The Times Our Healthy Ageing and Prevention Index, launched aLongside the World Health Assembly in Geneva and a cornerstone of our engagement at the G7 in Japan and G20 in India, continues to build our credibility in the UK and global health space. °As Governments. boasting about how much we spend on something isn't actually important if we aren't getting the outcomes, and I think people want to see those outcomes," Carolyn Bennett MD, Canadian Minister of Mental Healtl! and Addictiofris and Associate Minister for Health, speaking at our launch event InternationaL Longevity Centre UK Financial Statements for year ended 31 March 2024 "You ure measuring health outcomes and then correlating it with input such as how much we spend on prevention. l opplaud that method because there are so many people, politicians included, who measure the quality of health by the inputs which is wrong headed." Ong Ye Kung, Singoporean Healtl? Minister. spealeing at our launch event "The HealthyAgeing and Prevention Index tool looks brilliant. I'm sure my Institute of Health Equity will have a lot to say on inequalities and longevity." Professor Sir Michael Marmot CH, Dii-ector. UCL Institute of Heotth Equity This has Led to ILC being invited to.. Contribute to the Times Health Commission's re ort on the state of health and social care in the UK muLtipLe times. and is a Leading feature in their chapter on health inequaLities. "Thanks so much for your brilliant evidence." Roche! Sjxlvester. Chair. The Tinie.f Healll? Commiccion Present the Index at an event hosted by the British Embassy in Rome with delegates from the Italian Ministry of HeaLth and chaired by ELeanor Sanders, Deputy Ambassador to Italy. Present the Index at the 2023 SeouL 4050 InternationaL Forum hosted by the Seoul 50 PLUS Foundation - an affiliated organisation of the Seoul Metropolitan Government. Speak at the InternationaL Federation on Ageing's 16th GlobaL Conference in Bangkok, including a dedicated workshop on the Index and our key recommendations on healthy ageing. Present the Index to over 80 delegates at the UKRI Healthy Ageing Conference in October. Share our findings at a plenary to the 2023 international Longevityi8 conference at Bayes Business School (City University). Present on the Healthy Ageing and Prevention Index at Mercer's FLagship International HeaLth and WeLlbeing Network Forum, in front of representatives from global multinational corporations. "We are finding the Prevention Index to be very useful.,. Il'ml using the data in presentations on longevity around the world and have shared it with about loo of my global consulting colleagues who specialise in health and well-being as a genius - must usel, It s a great go-to place for data and insights." Yvonne Sonsino. Global Lead on Longevity and Flex. Mercer International Longevity Centre UK FinanciaL Statements for year ended 31 March 2024 2. Saying the right things We are challenging and solutions-fvcused, which has led to a stmng response to our recent research and policy recommendations. Media coverage by numbers 200 180 160 uo loo 80 60 40 20 Over the Last year, our work has been covered in outlets from The Times to The Guardian, the Daily Telegraph to the Financial Times, Times Radio to Sky News, roLling feed. the i Paper and trade press. The last quarter in particular has been a record quarter for ILC'S coverage. This has been driven by continued engagement with our White Paper and recommendations and. in particuLar, by analysis we published in February on the old age dependency ratio and impact on state pension age in 20 countries, building urgency around the need to act to support peopLe who can and want to, to stay in work for Longer. Landing on the first page of The Guardian. the story was then picked up by multiple outlets across the world and nearly two months Later is still being referenced and has made us more sought after. "Thank you so much foryour brilliant interview. Thoroughly enjoyed listening to it. Completely agree with you that we need to look at policies which tackle different factors such as age discrimination or health issues in thejob environment rather thanjust increasing the state pension age and trying to make people work for longer." -I'm pleased to share the published article on retraining for the over-5OS Wlth you. It did very well over the weekend, garnering more than 25oh views - a bit of light relief from the more heavy news perhaps. ' Benedict Smith, The Telegraph We have also continued to have good international coverage of our work Our "HoLding us back. report, Looking at how to overcome inequaLities in diagnosis and treatment of a set of cardiovascular conditions across Europe, garnered attention in the ltslian media, The main Portuguese outLet covered our work on the economic opportunities of longevity in Portugal. International Longevity Centre UK Financial Statements for year ended 31 March 2024 Our work on retail was referenced in ItaLian Vanity Fair. Our online reach is growing and is intemational The ILC-UK website had over 280,000 page views over the last year. The map beLow iLlustrates user access to the website per country from i April 2023 - 31 March 2024. showing that ILC-UK'S reach is truLy global (spanning 194 countries). Usersv by Country COUNTRY USERS United Kingdom 46K United States 14K Sweden 2.9K Germany 2.3K Netherlands 2.2K Finland 1.8K Australia 1.7K 3. Engaging the right people We are building and strengthening relationships with key Parliamentarians in the run-up to the General Election. Over the past year, we have continued to build on our reLationships with key MPS and Peers. We were invited to speak at the Women and Work APPG on the gender pension gap, hosted by Jess Phillips MP, where we argued for soLutions to better support famiLy givers. "You made an excellent addition on the causes of the genderpension gap, and the potential for a credit system to recognise family carers." The Health and Social Care SeLect Committee circuLated our White Paper findings with its members. We held side events to Conservative and Labour party conferences this year and engaged with.. Neil O'Brien, Public Health Minister Lisa Nandy MP, Shadow InternationaL Development Secretary Seema MaLhotra, Shadow SkiLLs Minister o Long-standing ILC supporters incLuding Lord Bethell. Damian Green MP. Debbie Abrahams MP and Stephen Timms MP Intemational Longevity Centre UK Financial Statements for year ended 31 March 2024 We heLd events with Guy Opperman MP Ithen-pensions Minister), Lord James BetheLL (Former Minister at DHSCI, Fleur Anderson MP, Lord Chris Rennard, NigeL Mills MP (Work and Pensions SeLect Committee). Baroness Mary Jane Watkins, Lord George Foulkes, We work closely with key civil servants. The Chief Medical Officer's influentiaL annuaL report for 2023 Leaned heaviLy on the messages we have been promoting on healthy ageing and prevention. "We are very grateful to your input eartier in the year. This helped the team frame some of the content amund research and innovation. It was atso reassuring to see you include concepts mentioned by several of the co-authors." O[[icials producing the report Speaking to the Department of Health and Social Care about our White Paper recommendations and specifically a focus on preventative heaLth interventions. civiL servants said the report was "..all good stuff. And its going with the grain. In Line with our recommendations for a strategic approach, the Department has started embedding prevention across its work, We have built close relationships with the Behavioural Insights Team IBITI. David Halpern, Head of the BIT has agreed to give the next Gr&ngross Lecture. The Cabinet Office approached us to jointLy scope their long-term plans for the impact of demography. We Launched our new report on what works across the worLd in terms of lifeLong learning and what the UK can learn from this. Among 200 sign-ups. attendees incLuded representatives from the Department of Education. We continue to work cLoseLy with the Department for Business and Trade and Foreign and Commonwealth Office on our internationaL work and the opportunities of healthy ageing across the wortd. During a recent visit to speak at the Independent Ageing conference in Japan. the British Embassy in Tokyo who had heard we were speaking, reached out to see if they couLd offer any support and organised a press interview with a locaL newspaper during our stay. We are building our international presence and networks Launching our HeaLthy Ageing and Prevention Index aLongside the WorLd Health Assembly, we have presented our findings on how countries across the worLd are faring when it comes to heaLthy ageing at a series of events, from Japan and the G7 to India and the G20, "I've learnt about the Healthy Ageing and Prevention Index, which I thought was fascinating... It s important that Ithe UK and Indial compare and share our approaches to tackling an ageing population." stephen Hickling. British Deputy High Commissioner to Gujarat and Rajasthan We have grown our ILC Europe Network in the run-up to the European elections and organised the first event of the network in Brussels. where we had five members of the European Commission in attendance. We also ran an event sponsored by MEP Brando Benifei in the European Parliament this year, focusing on tackLing inequaLities in long-term heart conditions. .1 very much like the focus you put on the promotion of healthy ageing across the lifespan and I find the Healthy Ageing and Prevention Index a very interesting tool that could give insight to better calibrate policy solutions in support of Europe s shifting demography., Dubravka Suica, VP of Democracy ond Demogropliy for the European Commission We ran a project. supported by the FCDO. on the economic opportunities of Longevity In Portugal. We shared our findings at a private event at Chris Sainty. the British Ambassador's International Longevity Centre UK Financial Statements for year ended 31 March 2024 Residence bringing together a range of experts. including Nuno Marques Icoordinator of Portugal's National Healthy Ageing PLanl and Ana Clara SiLva IRegionaL Director for Integrated PubLic PoLicies and Longevity in Madeira). The final report. which has informed the thinking of Portugal's Healthy Ageing PLan, was pubLished and shared widely at the 5th UK_PortugaL HeaLthy Ageing Forum in Lisbon. We are connecting with key internationaL organisations. This year, we ran our first event alongside the UN General AssembLy and our first session in the secure zone alongside the World Bank/lMF Spring Meetings in Washington DC. We had very strong engagement from internationaL organisations. including.. o ManueLa Francisco, WorLd Bank Haleh Nazeri, WorLd Economic Forum Martha Rebour, UN Foundation MassimiLiano La Marca, InternationaL Labour Organisation Megan O'DonneLL, Gates Foundation Simon Brassel, Office of HeaLth Economics We continue to engage new and different stakeholders with our work We have engaged major retaiLers around the need to support heaLthy ageing Launching our findings on the case for retaiLers to engage with this agenda and pockets of good practice that already exist, we were joined by Minister for Enterprise, Market and SmaLI Business Kevin Hollinrake MP. "I'm delighted to havejoined the ILC for this important discussion about how we can support retailers to realise the opportunities associated with an ageing society. It s important that business leaders take seriously the need to adapt how they work in light of the UK s changing demographic profile." Kevin 140llinroke MP We have had continued coverage across StirLing University s The Bri Newsletter and main website, as well as retaiL pubLications inctuding The RetaiL BuLletin and The RetaiL Times. Moreover. our series of short films targeted at retaiLers resuLted in some great onLine coverage, incLuding'. Being shared by MaryLebone Cricket Club (Lords) on their Linkedln and X (formerly Twitter). Tesco posting our Healthy Workforce video on their Linkedln John Lewis Partnership posting our Healthy Workforce video on Linkedln and being shared by the Retail Trust "This is fascinating and shows the limportancel of creating a nurturing, beautiful culture centred around employee wellbeing. Thanks for sharing." Lucy Butt. CEO and Co-founder of Bramber Baleehou5e We continue to work closely with the members of our Partners Programme We held four events with our Partners this year. alongside other 1.1 and bespoke engagements. This included a private breakfast roundtable for the members with Guy Opperman MP on the future of work. Our most recent Partners, dinner at the House of Commons on 24 January, hosted by Rt Hon Damian Green MP, focused around how we push forward the recommendations from our White Paper. -It was a strong gathering of infomied and interestedpeople. Violent agreement that more can be and must be done. Onwardsl" Men7ber of the Partners Programme io International Longevity Centre UK Financial Statements for year ended 31 March 2024 We are creating urgency. Our work on the potential of the State Pension Age needing to rise faster has made peopLe think differently. From BBC Radio 4's PM programme to a YouTuber caLled "Oamien taLks mone , the piece generated much debate. "This might be the most important video on YouTube for the UKpopulation." Our Healthy Ageing and Prevention Index is promoting action on prevention. "I don't want Canada to be 12th anymore, I want to be in the top io. What are those higher on the Index doing? We are happy to be on the Index, but we've got to do more." Corolyn Bennett MD. Canadia17 Minister o[ Mental Health and Addictions and Associate Ministei for Health 'No country has a monopoly on good ideas or policy programmes so the Index can provide us with this platform to benchmark best practices and engage in good discussion on ways to enhonce and preserve the health of ourpeople." Ong Ye Kung. Singaporean Health Minister We are informing the way businesses and employers work We were invited to present our recommendations for improving age diversity in cLinicaL triaLs at the third annuaL CLinicaL Outsourcing Group conference. The Crown Prosecution Service consuLted us on how they should engage with their ageing workforce. Our work on what works in lifelong Learning led to an interview that informed the Long-term strategy of Cardiff University. on how it can better engage with adults across the life course. Our recommendations are gaining traction and are taken on Our recommendations are being discussed and are being taken on. The Labour Party has recently suggested the idea of Citizens Assemblies which we caLLed for in our White Paper. Lord WiLlets has picked up on our suggestion of a one-off payment for younger peopLe. Andy Burnham has committed to considering whether Manchester shouLd introduce a citizens. assembLy to Look at ageing li Intemational Longevity Centre UK Financiat statements for year ended 31 March 2024 Ourpublications and events Our fuLL portfoLio of pubLications and events this year can be found beLow'. Health & Care Events Publications Report launch - A marathon or a sprint.. Do eLite-LeveL athletes Live Longer than Marathon or sprint.. Do eLite-LeveL athletes live Longer than average? Shifting the narrative.. Inspiring increased vaccine confidence across CentraL and Eastern Europ.e Introducing the Healthy Ageing and Prevention Index HeaLthy Ageing and Prevention Index.. Our act Working Lunch.. Vaccine confidence in Central & Eastern Europe Healthy ageing.. Priorities for the G20 in India ILC at the 17th WorLd Congress on PubLic Health in Rome, ItaL G7 high-leveL side event in Niigata.. G7 high-leveL side event in Hiroshima.. Covid recovery and prevention Leaving no one behind.. Progress on Life Course Immunisation Roundtable - alon side the World Health Assembl Global launch of the Healthy Ageing and Prevention Index aLongside the ILC at the IFA'S 16th GLobaL Conference on Ageing in Bangkok G20 high-leveL side event in India. Unlocking the benefits of heaLthy ageing and prevention - joint event with ILC-India High-leveL roundtable alongside UN High-LeveL Meetings. The role of immunisation in pandemic preparedness and universaL health coveraie Equal Hearts.. Addressing cardiovascular heaLth and disparities in Euro k4eaLthy Ageing and Prevention in Europe.. How do European countries com At the G20 in India.. centring healthy ageing within gLobaL heaLth architecture HoLding us back? TackLing inequalities in the detection and treatment of structuraL heart disease in EuroL.. Adult immunisation in Europe roundtabLe. Improving shingLes vaccination uptake Mental HeaLth Matters.. What are the poLicy priorities for the BeLgian Presidency and the next European Commission? Healthy ageing and Longevity in Europe. How do we prepare for the TriaL and error.. Supporting age diversity in cLinicaL trials 12 International Longevity Centre UK Financial Statements for year ended 31 March 2024 Finance & Wealth Events Publications Pensions and Longevity. Provision for an ageing popuLation Joint ILC and DAI webinar. Money weLI Money weLL spent - Overcoming barriers spent? Overcoming barriers to spending to spending in Later Life in Later life 'If only I had'..LV- insights into retirement pLanning webinar l How stalLing life expectancy impacts the I UK economy l HeaLth equaLs weaLth. maximising the Longevity dividend in PortugaL Productivity Events PubLications HeaLthy retail. Hints and tips on accessibiLit ILC Healthy Retail Summit HeaLthy retail, Hints and tips for a healthy workforce HeaLthy retail. Hints and tips for healthy customer service Healthy retail. Hints and tips for a heaLthy retail environment HeaLthy retaiL' Hints and tips on heaLthier choices Redefining Lifelong Learning.. Lessons from across the globe Redefining LifeLong learning.. Lessons from across the globe What happens next Events Publications Labour Party Conference Conservative Party Conference Healthy ageing and Longevity in Europe.. How do we prepare for the ioo-year life? The inaugural Greengross Lecture.. A worLd without ageism ILC Autumn Reception 2023 An ageing India.. Outlooks for the future Future of Ageing 2023.. An age of possibiLities | One hundred not out. A route map for | Longer Lives ILC Strategy 2023-2028 Our impact 13 International Longevity Centre UK Financial Statements for year ended 31 March 2024 Delivering our message The ILC continues to use its extensive networks. especiaLly our ILC and ILC Global ALLiance websites, sociaL media and databases, to translate research into policy. and disseminate ideas and solutions. The ILC works across aLL different sectors, especially government. to address the urgent issues of Longevity and demographic change including positive outcomes to the benefit of aLL. Academic partnerships ILC continues to be affiliated to University CoLLege London (UCLI. rated in the top ten of the international university ratings. We work with a number of Academic institutions including the RoyaL College of Art. Newcastle University, the University of Stirling and Surrey Universlty ILC Global Alliance The ILC is one of sixteen ILCS across the worLd. ILC continues to hold a prominent position within the ILC Global ALliance IILC GAI and sit on many of the ILC GA committees. Advisory Boards ILC works with members of our two committees.. the ILC Strategic Advisory Board and the ILC Insight Experts. These committees were formed to engage better with advisors and experts who can heLp us further ILC'S mission and work. The Strategic Advisory board provides guidance on the strategic direction of ILC and contribute to ILC'S thought Leadership on ageing and Longevity The Insight Experts constitute a group of experts whose purpose is to provide speciaList knowledge and on-going advice across a range of research and policy areas relevant to ILC. Ensuring that ILC is sustainable as an organisation ILC continues to review the n￿dS of both our staff body and the organisation as a whoLe whiLst adapting to the changes in the way work in light of the COVID-19 pandemic and the economic and poLitical cLimate. We continue to take on university students for short-term work pLacements as part of their university courses. International Longevity Centre UK FinanciaL Statements for year ended 31 March 2024 Financial Review Income from grants and endowments amounted to £561,722 (2023 - £911.621) across a wide range of activities. This, taken together with the subsidiary company's operations, resuLted in net expenditure of £(329,uil (2023 net income - £269.604). The totaL reserves at this date amounted to £349,57812023 - £678,719). Resources expended on charitabLe activities (including governance costs) were £i.052.18212023 - £846,345) foLlowing the compLetion of a number of projects, In addition, gift aid receivable from the trading subsidiary was £228.40012023 - £109,770). The Company is Limited by guarantee and is not entitled to pay dividends. The trustees are confident that it is appropriate to produce the accounts on a going concern basis. The InternationaL Longevity Centre - UK and ILC-UK Services Ltd have an estabLished track record to raising funds from supporters. funders. sponsors and its partnership programme to fund research predominantly relating to Longevity and the ageing popuLation. That trend is LikeLy to increase in the coming years together with our strategic commitment to participate in larger programmes increasing funding in the coming years. As such the Trustees remain confident of our abiLity to continue on a going concern basis with a supported activity pipeline exceeding 12 months., and we retain a surplus approximating 3-6 months of operating costs. ILC UK Services Ltd ILC UK Services Ltd is a wholLy owned trading subsidiary of the charity and has the same accounting year-end date. For the year to 31 March 2024, It had a turnover of £355,649 (2023 - £361,554) and. after gift aid paid of £228,40012023 - £109.770 restated), it made a net profit/lLoss) of £124.552)12023 profit £117,866 restated). Reserves PoLicy The Trustees have examined the requirement for free 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 Shortfal￿ in restricted grants and endowments and consider that the free reserves are at an appropriate Level Free reserves are £227,245 which falLs below the charity's 3-6 month Reserves PoLicy, The 2024-25 strategy WILL focus on increasing the free reserves. Investment Policy The Trustees have the power to invest in such assets as they see fit. Given the current leveL of free reserves the Trustees consider it appropriate to keep funds in interest bearing bank accounts. Plans for future periods Over the coming year we intend to continue to prioritise our work on helping society adapt so everyone can enjoy the benefits of Longevity. BuiLding on our new strategy, we WILL focus our work around the following 4 themes - HighLighting the impact of Longevity on society Protecting health throughout the Life-course Supporting a decent income throughout the Life-course Ensuring our communities support our sociaL and economic contributions 15 International Longevity Centre UK Financial Statements for year ended 31 March 2024 Within these key areas over the next year we wilL Continue to Leverage our White Paper to engage the major parties in the run-up and foLLowing the UK General Election to support boLd poLicy changes to adapt to Longer Lives BuiLd on our Healthy Ageing and Prevention Index. pubLishing the second wave of data to identify how countries have changed over time and what drives performance on our Index Host our third annual Retirement Income Summit highLighting the opportunities and chalLenges for current and future generations to have a decent income throughout their Lives Identify innovations to address the chaLLenges and maximise the opportunities of our ageing worLd Structure, Governance and Management Governing document InternationaL Longevity Centre UK is a company Limited by guarantee governed by its Memorandum and Articles of Association dated 30 June 1999. It was registered as a charity with the Charity Commission on 28 ApriL 2000. Organisation The Board of Trustees administers the charity. The board meets thr& or four times a year. A Chief Executive is appointed by the Trustees to manage the day-to-day operations of the charity. To facilitate effective operations, the Chief Executive has delegated authority. within the terms of deLegation approved by the Trustees, for operationaL matters incLuding finance and employment of staff, Pay and remuneration of key management personneL is approved by the Chair of the Board of Trustees. Hybrid board meetings were held in 2023-24, offering a those unable to traveL to join meetings remotely. However, the majority of board members attended in-person. Appointment of Trustees The number of Trustees shalL be not Less than three but is not subject to any maximum. An updated retirement process was approved by the Board in JULY 2023. and updated in ILC'S Articles of Association. A Board member's term WILI be Limited to three years, and a board member may sit a maximum of two terms, unless otherwise agreed by the Board. No Board member shall sit for more than three terms. When appointing new Trustees. the Board has regard to the speciaList skiLLs in the fieLds of ageing, management or administration that prospective Trustees have to offer. Trustee induction and training New Trustees are briefed on the processes. planning and performance of the charity on the taking up of their appointments. Briefings are conducted by the Chair. Chief Executive and Head of Operations. ALI Trustees are encouraged to attend appropriate external training events which WILL enhance the undertaking of their role. Related party The company's wholly owned subsidiary. ILC UK Services Ltd. was estabLished in 2008 to provide consultancy services. AIL taxable profits of ILC UK Services Ltd are given via gift aid to the InternationaL Longevity Centre - UK. 16 International Longevity Centre UK Financial Statements for year ended 31 March 2024 Risk management The Trustees have a risk management strategy which incLudes an ongoing review of the risks that the charity may face and the establishment of systems and procedures to mitigate those risks. In particular. the Trustees keep a cLose eye on the funding situation and on the charity's contractuaL commitments, entering into none of the Latter for which funds are not seen to be avaiLabLe. Internal risks are minimised by the implementation of procedures for authorisation of aLL transactions and projects. These procedures are periodicaLLy reviewed to ensure that they still meet the n*ds of the charity. At present, the key risks faced by the chartty. and how they are mitigated are.. As is the case with many charities with Limited or no core funding, ensuring adequate cash reserves is a priority to ensure we are able to rn￿t our obbgations. As our we continue to live and adapt to an ageing world, the work of the ILC has become more and more important, and the Longevity of the organisation as a resuLt of this is good. Through our programmes of work we engage sponsors, funders and grant providers across a range of sectors allowing us to not only reach a wider policy audience, but reduce reliance on one sector or type of income stream. Our staff are our most important asset. Where possible, we ensure there is distribution of responsibilities to mitigate the risk of single-person or key staff dependency We utiLise our IT software to share progress updates with the wider team and enList the services of externaL service providers where necessary or appropriate. Trustees, responsibilities in relation to the financial statements Company Law requires the charity Trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitsble company and the group and of the incoming resources and appLication of resources. incLuding the income and expenditure. of the charitabLe group for that period. In preparing the financial statements. the Trustees are required to.. select suitabLe accounting policies and then apply them consistentLy: observe the methods and principles in the Charities SORP: make judgments and estimates that are reasonabLe and prudent: state whether applicabLe UK accounting standards have been foLLowed. subject to any materiaL departures disclosed and explained in the financial statements., and prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charitable company WILI continue in business. The Trustees are responsibLe for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitabLe company and to 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 the group and hence taking reasonabLe steps for the prevention and detection of fraud and other irregularities. The Trust&s 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. 17 International Longevity Centre UK Financial Statements for year ended 31 March 2024 Statement of disclosure of information to the auditors Each of the persons who is a trustee at the date of approvaL of this report confirms that.. so far as the trustee is aware, there is no relevant audit information of which the company s auditors are unaware., and the trustee has taken aLL the steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the company s auditors are aware of that information. Independent Auditors ILC tendered for a new Auditor in 2023-24 and pursuant to section 485 of the Companies Act 2006. the charity appointed Nyman Libson Paul LLP. The auditors. Nyman Lisbon Paul LLP, have expressed their wiLLingness to continue in office in accordance with Section 487 of the Companies Act 2006. This report has been prepared in accordance with the Accounting and Reporting by Charities. Statement of Recommended Practice appLicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of IreLand published in SORP 2019 and complies with the Charities Act 2011 and the Companies Act 2006. By Order of the Board Date N Waterson Trustee 18 Intemational Longevity Centre UK Financial Statements for year ended 31 March 2024 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 INDEPENDENT AUDITORS, REPORTTOTHE MEMBERS OF INTERNATIONAL LONGEVITY CENTRE UK Opinion We have audited the financiaL statements of InternationaL Longevity Centre UK (the 'parent charitable company'l and its subsidiaries Ithe group'l for the year ended 31 March 2024 which comprise the consoLidated statement of financiaL activities. the consoLidated baLance sheet, the charity balance sheet, the consoLidated statement of cash fLows and the reLated notes, incLuding a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is appLicabLe Law and United Kingdom Accounting Standards. incLuding Financial Reporting Standard 102 'The FinanciaL Reporting Standard appLicabLe in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practicel. In our opinion the financial statements: give a true and fair view of the state of the Group's and of the parent charitabLe company's affairs as at 31 March 2024 and of the Group's incoming resources and appLication of resources, incLuding 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 and the Charities Act 2011. Basis for opinion We conducted our audit in accordance with InternationaL Standards on Auditing (UK) IISAS IUK)) and applicable Law. Our responsibiLities under those standards are further described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financiaL statements in the United Kingdom. including the Financial Reporting CounciL's Ethical Standard, and we have fulfilLed our other ethicaL responsibiLities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements. we have concluded that the Trustees, use of the going concern basis of accounting in the preparation of the financial 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 Group's or the parent 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 Trust*s are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other Ig International Longevity Centre UK Financial Statements for year ended 31 March 2024 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 INDEPENDENT AUDITORS, REPORTTO THE MEMBERS OF INTERNATIONAL LONGEvif( CENTRE UK information and, except to the extent otherwise explicitly stated in our report. we do not express any form of assurance concLusion thereon. Our responsibiLity is to read the other information and, in doing so, consider whether the other information is materialLy inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent materiaL misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a materiaL misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinion on other matters prescribed by the Companies Act 2006 In our opinion. based on the work undertaken in the course of the audit.. the information given in the Trustees, Report for the financiaL year for which the financiaL statements are prepared is consistent with the financiaL statements. the Trustees, Report has been prepared in accordance with applicable Legal requirements. Matters on which we are required to report by exception In the Light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified materiaL misstatements in the Trustees, Report. We have nothing to report in respect of the following matters in reLation to which Companies Act 2006 requires us to report to you if, in our opinion.. the parent charitabLe company has not kept adequate and sufficient accounting records. or returns adequate for our audit have not been received from branches not visited by us", or the parent charitabLe company 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 Iwho are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enabLe the preparation of financiaL statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements. the Trustees are responsible for assessing the Group's and the parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters 20 International Longevity Centre UK Financial Statements for year ended 31 March 2024 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 INDEPENDENT AUDITORS, REPORTTO THE MEMBERS OF INTERNATIONAL LONGEVITY CENTRE UK reLated to going concern and using the going concern basis of accounting unLess the Trustees either intend to Liquidate the Group or the parent charitabLe company or to cease operations. or have no realistic alternative but to do so. Auditors. 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 auditors, report that includes our opinion. Reasonable assurance is a high leveL of assurance. but is not a guarantee that an audit conducted in accordance with ISAS (UK) WILL aLways detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered materiaL if, individuaLly or in the aggregate. they could reasonably be expected to infLuence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud. are instances of non-compLiance with Laws and regulations. We design procedures in Line with our responsibiLities, outlined above, to detect material misstatements in respect of irreguLarities. incLuding fraud. The extent to which our procedures are capable of detecting irreguLarities. incLuding fraud is detailed below.. We gained an understanding of the Legal and reguLatory framework appLicable to the charity and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicabLe laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a materiaL misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate conceaLment by, for example, forgery or intentionaL misrepresentations, or through collusion. We focussed on laws and reguLations which couLd give rise to a material misstatement in the financial statements, incLuding. but not Limited to, the Companies Act 2006. Our tests included agreeing the financial statement discLosures to underlying supporting documentation and enquiries with management. There are inherent Limitations in the audit procedures described above and, the further removed non-compliance with Laws and reguLations is from the events and transactions reflected in the financial statements, the Less likely we would become aware of it. We did not identify any key audit matters relating to irreguLarities. incLuding fraud. As in aLL our audits, we also addressed the risk of management override of internaL controLs, including testing journaLs and evaluating whether there was evidence of bias by the trustees that represented a risk of material misstatement due to fraud. A further description of our responsibiLities for the audit of the financiaL statements is Located on the Financial Reporting CounciL's website at.. www.frc.org.uk/auditorsresponsibiLities. This description forms part of our auditors, report. Use of our report This report is made soLely to the charitable company s trust&s, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. and to the charitable company's trustees. as a body, Part 4 of the Charities (Accounts and Reportsl ReguLations 2008. Our audit work has been undertaken so that we might state to the charitabLe company's trustees 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 21 International Longevity Centre UK Financial Statements for year ended 31 March 2024 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 INDEPENDENT AUDITORS, REPORTTO THE MEMBERS OF INTERNATIONAL LONGEVITY CENTRE UK assume responsibiLity to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed. Andrew Thomas (senior statutory auditor) for and on behalf of Nyman Libson Paul LLP Chartered Accountants statutory Auditors 124 FinchLey Road. London, NW3 5JS Date I l December 2024 22 International Longevity Centre UK Financial Statements for year ended 31 March 2024 Consolidated statement of financial activities (IncLuding Income and Expenditure Account) for the year ended 31 March 2024 Unrestricted Restricted Total Total funds funds 2024 2023 Notes Income Incoming Resources from generated funds Voluntary income Grants and donations 5.583 556.139 561,722 911.621 Income from other trading activities: ConsuLtancy other 355.649 355,649 361.554 Investment income 5,270 5,270 1.954 Total Income 366,502 556,139 922,641 1,275,129 Expenditure: CharitabLe activities 5a 618.376 199.600 817,976 433,806 1,052,182 846,345 199,600 159.180 1.251,782 1,005,525 Raising Funds 5b 433,806 Net income/(expenditure) and net movement In funds for the year (451.474) 122,333 1329,yI) 269,604 Reconciliation of funds Total funds brought forward 678.719 678.719 409,131 TotaL funds carried fOn￿ard 227,245 122,333 349.578 678,719 AIL of the company's operations are classed as continuing. The consolidated statement of financiaL activities includes all gains and losses recognised in the year. The movement on reserves is shown above. The notes on pages 26-36 form part of these consolidated financial statements. 23 International Longevity Centre UK Financial Statements for year ended 31 March 2024 Consolidated and charitable company's balance sheets as at 31 March 2024 Notes Group Charity 2023 Restated 2024 2023 2024 FIXED ASSETS TangibLe assets INVESTMENTS CURRENT ASSETS Debtors 118.647 364,761 483,408 297,728 81.190 434,985 109,668 359,687 190,858 794,672 Cash at bank and in hand 531,514 829,242 CREDITORS Amounts faLling due within one year io (133.830) 1150,523) {45,163) 1115,987) NET CURRENT ASSETS 349,578 678,719 145.695 678,685 TOTAL ASSETS LESS CURRENT LIABILITIES 349,578 678,719 145,695 678.686 FUNDS Restricted funds li 122,333 122,333 23,362 678,686 Unrestricted funds 227,245 678.719 349,578 678,719 145.695 678,686 The consoLidated financiaL statements were approved and authorised for issue by the board on 30 October 2024 and signed on its behalf by N Waterson Trustee The notes on pages 26-36 forni part of these consolidated financial statements. 24 International Longevity Centre UK Financial Statements for year ended 31 March 2024 Consolidated statement of cash fLows for the year ended 31 March 2024 Notes Group 2023 2024 Net cash provided by (used in) operating activities (166.7531 270,424 Change in cash and cash equivalents in the reporting period 1166,753) 270,424 Cash and cash equivaLents at the beginning of the reporting period 531,514 337,923 Change in cash and cash equivaLents 1166,7531 193,591 Cash and cash equivalents at the end of the reporting period 364,761 531,514 25 Intemattonal Longevity Centre UK Financial Statements for year ended 31 March 2024 Notes to the financial statements for the year ended 31 March 2024 Accounting policies The principaL accounting poLicies adopted and judgements in the preparation of the financial statements are as folLows.- 1.1 Basis of preparation of financial statements The financiaL statements have been prepared in accordance with Accounting and Reporting by Charities, statement of Recommended Practice appLicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicabLe in the UK and RepubLic of Ireland IFRS 102) ISORP 2019) (Charities SORP (FRS 1021), the FinanciaL Reporting Standard applicabLe in the UK and Republic of Ireland (FRS 1021 and the Companies Act 2006. These financiaL statements consoLidate the resuLts of the charity and its wholLy owned subsidiary ILC UK Services Ltd. A separate statement of financiaL activities and income and expenditure account are not prepared for the charity itself foLlowing the exemptions afforded by section 408 of the Companies Act 2006. The charity has aLso taken advantage of the exemptions under FRS 102 from presenting a charity only cashflow statement. International Longevity Centre UK meets the definition of a public benefit entity under FRS 102. Assets and Liabilities are initiaLLy recognised at historicaL cost or transaction vaLue unLess otherwise stated in the reLevant accounting poLicy. 1.2 Going concern The Trustees have reviewed the charity's forecasts and budgets and accordingly have a reasonable expectation that the charity has adequate resources to continue in operationaL existence for the foreseeabLe future. Having therefore assessed the Charity s financial position, its plans for the foreseeable future and the risks to which it is exposed and, taking into account future expected income streams. the Trustees are satisfied that it remains appropriate to prepare the financial statements on the going concern basis. 1.3 Income ALL income is recognised once the Charity has entitLement to the income, it is probabLe that the income WILL be received and the amount of income receivable can be measured reLiabLy. Grants are included in the Statement of Financial Activities when the Charity is entitLed to receive the money The baLance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt. its recognition is deferred and included in creditors as deferred income, Where entitlement occurs before income is received. the income is accrued. Revenue from a contract to provide services is recognised in the period in which the services are provided when aLL of the folLowing conditions are satisfied. the amount of revenue can be measured reliabLy'. and it is probable that the Charity will receive the consideration due under the contract. 26 International Longevity Centre UK Financial Statements for year ended 31 March 2024 1.4 Expenditure Expenditure is recognised once there is a legaL or constructive obligation to transfer economic benefit to a third party, it is probabLe that a transfer of economic benefits WILL be required in settlement and the amount of the obligation can be measured reLiabLy Expenditure on charitable activities is incurred on directLy undertaking the activities which further the Charity s objectives, as weLL as any associated support costs. Governance costs represent expenditure incurred on externaL audit. LegaL advice for trustees and costs associated with constitutionaL and statutory requirements. 1.5 Operating Leases RentaLs payabLe under operating leases are taken to the profit and Loss account on a straight-Line basis over the Lease term. 1.6 Tangible fixed assets las per sub accounts) 1.7 Debtors Short term debtors are measured at transaction price, less any impairment. 1.8 Cash and cash equivalents Cash is represented by cash in hand and deposits with financial institutions repayabLe without penalty on notice of not more than 24 hours. 1.9 Financial instruments The Charity only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities Like trade and other debtors and creditors. 1.10 Creditors Short term creditors are measured at the transaction price. 1.11 Pensions The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year. 1.12 Fund accounting General funds are unrestricted funds which are avaiLabLe for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financiaL statements. 1.13 General information International Longevity Centre UK is a private'company Limited by guarantee and incorporated in EngLand. Its registered office and principaL place of business is The Foundry. 17 OvaL Way. London, SEII 5RR, 27 International Longevity Centre UK Financial Statements for year ended 31 March 2024 Grants and donations Funders Unrestricted Restricted funds funds Total Total 2023 2022 ABRDN AARP Alzheimer's Society Amgen ARCO AudLey 8oehringer IngeLheim British High Commission (FCDO) City University of London Coalition for Life-course Immunisation Design Age Institute EY Edinburgh University FINN Partners Glaxo Smith KLine HaLlmark ILC GLobaL ALLiance Innovation Resource Centre for Human Resources Institute of Actuaries Institute for Health and Economic Policy Legal & GeneraL LV= Merck Sharp & Dhome Corp Pfizer Phoenix RBW Consultancy Royal College of Art Sanofi Aventis Groupe Seqirus standard Life Foundation Stripe Partners Sundry donations University CoLLege London University of SterLing 36,563 1,163 2.175 1,163 2,175 943 70.000 3.800 3.000 75.000 3,000 75,000 19,625 23,000 23,882 21,324 21,324 16,950 2,200 8,330 50.000 38,000 8,330 50,000 177,340 38,000 35,000 3,771 4,200 5,3g2 8.000 16,000 402 3.771 8,000 402 1,000 3.000 54,004 53.570 48,200 7,500 880 3.000 54,004 114,074 53,570 123,027 48.200 7,500 7.500 880 700 75,000 71.250 40,000 75.000 40,000 3.850 1,253 20,890 66,591 66,591 133,182 556,139 561,722 911,621 1,812 1,812 5,583 Previous year 12.905 898,716 911.621 28 Intemational Longevity Centre UK Financial Statements for year ended 31 March 2024 Net profit from trading activities of subsidiary The charity has a wholly owned trading subsidiary which is incorporated in the UK. The cost of investment in the subsidiary is £1 and is iOO/ts of shares issued. The principal activity of ILC UK Services Ltd is the provision of consuLtancy services. A gift aid payment of £228.400 (2023 - £109,770) to be made to the charity was accrued at 31 March 2024. 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. Assets. LiabiLities and funds of the subsidiary are included in the consoLidated baLance sheet. CapitaL and Reserves at the 31st March 2024 were £1 and £203.882 respectively12023 £1, £228.434 restated) 2024 2023 Restated Turnover 355.649 361,554 Cost of sales Gross profit other income 355,649 361,554 Administrative expenses, including gift aid Corporation tax Profit /lLossl for the year Retained profit brought fonvard Gift aid distribution (151,790) Iii) 1133.902) (16) 203,848 228,433 1228,400) 203,881 227.636 110,567 1109,770) 228,433 Retained profit carried forward It came to Light this year that there was no written resoLution in pLace requiring ILC UK Services Limited to pay via Gift Aid its distributabLe reserves to ILC UK. As such the company can only account for Gift Aid payments in the year they have been paid and could not accrue for unpaid distributions at year end. The accounts for the subsidiary have been adjusted to reflect this position. A written resolution/deed of covenant will be put in place during 2024/25 to enable future proposed gift aid payments to be accrued in the financial statements of the subsidiary at year end. Investment income 2024 2023 Bank interest receivabLe 52ZQ 29 International Longevity Centre UK Financial Statements for year ended 31 March 2024 Expenditure on charitable activities and raising funds Note 5a - Raising funds Office Costs 2024 2023 65,929 5,755 6,181 7,799 53,659 243 4,400 7.834 46,299 1.501 199.600 77.605 4,447 687 8,896 27,648 TraveLling Expenses Printing, Books and Stationery IT Costs Project Costs Bank charges and interest payabLe ProfessionaL Fees H R Costs 243 13,000 1,377 23,267 2.010 Marketing and Event costs External Conference Costs 159,180 Direct Support 199.600 159,180 Note 5b - Charitable activities Direct Costs 2024 2023 staff Costs Professional Fees 718.240 64,395 53,283 11,561 32,472 80,490 636,825 63,833 43,021 17,963 29,324 TraveLLing Expenses Printing. Books and Stationery IT Costs Project Costs Su ort costs 13.773 General Expenses Bank Charges and Interest Office Costs 2,215 4,594 554 6,695 41.971 36,029 4,277 1.052,182 295 255 11,491 24,971 Professional Fees HR Costs Governance Costs 846,345 Direct 960,442 91.741 1.052,182 804.739 41,606 846,345 Support Total - direct costs 960 442 291,341 1,251,782 804,73g 200,786 1,005,525 Total- support costs 30 **International Longevity Centre UK Financial Statements for year ended 31 March 2024** ## **6. Staff and trustee remuneration** |**.**
**Staff and trustee remuneration**|| |---|---| |Staff costs:-
Salaries and other costs
Pension costs
National Insurance|**2024**
**2023**
**£**
**£**
622,788
551,068
31,571
25,962
63881
59,796| ||718,240
636,825| The number of employees whose total employee benefits, excluding pension contributions, exceed over £60,000, is as follows: ||**2024**|**2023**| |---|---|---| |£80,000 - £89,999|-|-| |£90,000 - £99,999|-|1| |£100,000 - £109,999|1|-| Pension contributions relating to those staff earning over £60,000 totalled £5,350 in the current year (2023 - £3,889). The key management personnel of the charity and the group comprise the trustees, the Chief Executive and the Heads of Research/Policy and Influencing/Projects/Operations. The total employee benefits of the key management personnel of the charity and the group were £308,718. (2023 - £244,112). During the year ex gratia payments of £7,027 were made. The average number of employees during the year was made up as follows: ||**2024**
|**2023**| |---|---|---| |Charitable activities|15|14| The Trustees did not receive any remuneration (2023- Nil), but were reimbursed reasonable out of pocket expenses, 2024 £871 (2023 £1,093). There are no related party transactions. ||**2024**
|**2023**| |---|---|---| |Trustees|12|10| ## **7. Tax on activities** The company is a registered charity and as such is not liable for taxation on any profit in the year. The subsidiary company has a corporation tax liability of £11. ## **8. Tangible assets** All tangible assets have been fully depreciated and therefore have zero net book value 31 International Longevity Centre UK Financial Statements for year ended 31 March 2024 Debtors: amounts falling due within one year Group 2024 Charity 2024 2023 2023 Restated Grants receivable Amounts due from subsidiary company Trade and other debtors Project costs 78,884 211.571 78,884 211,571 39.763 81,165 4,992 118,647 297,728 2,306 5,022 4.992 221,585 81.190 10. Creditors: amounts falling due within one year Group 2024 Charity 2024 2023 2023 Restated Trade creditors Amounts due to subsidiary company Deferred income Other creditors and accruals 8,502 27,080 5,138 7.561 15.000 80,597 14.454 40,003 62,675 20,765 150.523 13,097 25,003 62,675 20.748 130.987 10.503 16,425 45,163 other taxes 30,279 133.830 32 International Longevity Centre UK .Financial Statements for year ended 31 March 2024 ii. Restricted funds Current Year At31 Ati Incoming Outgoing March April 2023 Resources Resources 2024 Projects Dementia Pridem 2,175 2,175 Design age institute coLlaboration Retail Impact - Healthy Ageing Delivering Prevention-GLobaL Health. WeLLbeing + Prevn Index IFOA Event Series 21,855 66.591 21,855 66,591 179.003 127,503 51,500 8,000 8,000 Trial & Error 7,500 7.500 Lifecourse Immunisation across G7 & G20 Inaugural Greengross Lecture Life Long learning Promoting immunisation throughout the Life Speaking Engagements Going for Gold Mental HeaLth Matters 80,000 80,000 13,163 13,163 45.200 8,500 5,418 45.200 8,500 5,418 35,000 35,000 75,000 7.500 67.500 4,998 3,333 402 ISPPD Pneumococcal project Long Term Care Systems 8,331 402 556.139 433,806 122 333 33 Intemational Longevity Centre UK Financial Statements for year ended 31 March 2024 Previous year Projects At i April Incoming Outgoing At 31 March 2022 Resources Resources 2023 Actuaries Event Series CLCI Work agreement Dementia and spending Dementia Primary & Community Care Delivering Prevention DeLivering Prevention in an ageing worLd GoogLe Boomers HOPE - Health Foundation ILC Partner Lifecourse Immunisation Longevity of Sporting Legends PortugaLs Longevity Dividend Retail Impact - HeaLthy Ageing ShingLes PainfuLLy aware The Mayhew review TriaL and Error UK Labour Markets Vaccine Confidence in Central and Eastern Europe Work for tomorrow 16,000 23.882 36.563 943 304.424 3.750 3,850 20,890 16,950 iio,000 16,000 19,625 133,532 119,840 3.800 7.500 7,000 16.000 23,882 36,563 943 304,424 3.750 3,850 20,890 16,950 iio,000 16,000 19.625 133.532 119,840 3,800 7.500 7,000 48.775 48,775 5.392 5.392 898,716 898,716 12. Unrestricted funds Charity Funds Non Charity Trading Funds 2024 Total 2023 Total BaLance at i April 2023 678,686 33 678,719 409,131 Income 10,853 355.649 366 ,502 376,413 Expenditure Balance at 31 March 2024 1666,175) 23,364 (151,801) 1817.976> 106.825 203,881 227,245 678,719 34 International Longevity Centre UK Financial Statements for year ended 31 March 2024 13. Parent company results The parent company has taken advantage of section 408 of the Companies Act 2006 and has not included its own Statement of Financial Activities. The net incoming resources for the year for the charity amounted to £1304,590)12023 net incoming resources - £41,951). 14, Pension costs The charitable company operates a defined contribution pension scheme on behaLf of aLL its empLoyees. The assets of the scheme are held separateLy from those of the empLoyer in an independently administered fund. The cost for the year by the empLoyer was £31,57112023 - £25,962) 15. Net outgoing resources of the group for the year This is stated after charging.. 2024 2023 Depreciation Auditors, remuneration 836 12.300 7,200 16. Commitments At 31" March 2024, the company had total commitments under non-canceLLabLe operating leases over the remaining Life of those leases of £20,157 (2023 - £55.8201 Group 2023 Charity 2023 2024 2024 Within i year 2 to 5 years 20,157 55,820 20,157 55,820 17. Analysis of net assets between funds Unrestricted Restricted Total funds funds funds 2023 2023 2023 Current assets 361,075 122,333 483,408 Current LiabiLities (133,830) 1133,8301 227,245 122,333 349,578 35 International Longevity Centre UK Financial Statements for year ended 31 March 2024 Analysis of net assets between funds Iprior 18 year) Unrestricted Restricted funds funds Total funds 2023 2023 2023 Current assets 829,242 829,242 Current LiabiLities 1150.523) 678,719 (150,5231 678,719 Reconciliation of net movement in funds to net cash flow from operating 19 activities 2024 2023 Net income for the year (as per Statement of Financial Activities) 1329,141) 269.604 Adjustments for: Depreciation 836 Decrease / (increase) in debtors 179.076 11,831) (Decrease) in creditors (16.688) 175.018) Net cash provided by operating activities (166.753) 193,591 36