AGE UK CROYDON (Llmlted by Guaranteel COMPANY NO.: 03921436 CHARITY NO.: 1081013 REPORT AND Accouiirs for the year ended 31 March 2024
eUKCro don ststus: Company limited by guarantee no. 03921436 Charity registration no. 1081013 The company's governing document Is its memorandum and articles of a550ciation adopted on 8 February 2000. These were amended by special resolution on 21 September 2011, 17 June 2014, 7 March 2023 and 20 April 2024. Re8lstered offlce: 81 Brigstock Road Thornton Heath CR7 7JH TNstees Ms S Nicklin {Chalrl Mr O Sauba (Treasurer, Chair of Finance Committee) Ms B Scanlan (Chair of Governance & Nominations Committee) Ms O Khan Mr l Mannan Ms D Davison Mr C Briggs Mr K Kyei {appointed 6 March 20241 Senlor leadershlp team: Mr S Gulati ICEOI Mrs S Underhill (Programmes Director) Mrs R Liard (HR & Governance Director) Mrs M Moore (Finance Direttor- to 19 July 2024) Audltors: Myrus Smith Norman House 8 Burnell Road Sutton SMI 4BW Bankers: Co-operative Bank PO Box 250 Delf House, Southway Skelmersdale WN8 61 Investment adv15ers: Rathbone Investment Management 8 Finsbury Circus London EC2M 7AZ
A eUKCro don Trustees, report for the year ended 31 March 2024 The Members of the Board, who are Trustees for the purposes of charity law and Directors of Age UK Croydon forthe purposes of company law {'the trustees,), are pleased to present their annual report together with the financial statements of the charity for the year ending 31 March 2024which are also prepared to meet the requirements for a dirertors. report and accounts for Companies Act purposes. The financial statements complywith the Charities Att 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accountlng 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 1021 {effective l January 2019). Publlc Beneflt ststement The trustees have given due regard to the Charity Commission's guidance on public benefit and have concluded that the charity's purposes satisfy both elements of the public benefit requirement. Speclfically, that: • the benefits from our purpose are evidenced by responding to the need of our beneficiaries, In particular London Borough of Croydon's recognition that the age of a population has an overwhelming influence on health and social care needs (Annual Public Health Report, 2017}. any detriment or harm that results from the purpose (to people, property or the environment) does not outweigh the benefit, evidenced by our monitoringand evaluation processes which capture client feedback, including compliments, comments and complaints. our services are accessible to a sufficient section of the Public, evidenced by service eligibility which, where applied. targets accessibility to those most in need of the service. Our paid-for services offer a combination of competitive rates. subsidies, discounts and free options in order to avoid restriction of the serviceto those who can afford them. our services do not give rise to more than incidental personal benefit, evidenced by our service delivery plans and service contract5 which have been designed to meet our charitable purpose. Structure Governance and Mana ement Age UK Croydon {'the charity,) is a registered charity and a company limited by guarantee governed by its Memorandum and Articles of Association. All trustees are directors of the company. Recruitrnent and appointment ol new Trustees The trustees have a Governance and Nominations committeeto manage the recruitment and appointment of new trustees, The committee members are: B Scanlan (Chair), C Briggs, D Davi50n and 5 Nicklin. Induction and tralning of Trustees Trustees, induction 15 h05ted by the Chair. CEO and HR & Governance Director. This is complimented with an e-learning hosted by Stone Kin& Essential Trustee training. During the trustee journey there are opportunities for trustees to further develop skills / knowledge including financial training for trustees, Trustees can also meet with the senior leadership team to enhance their knowledge about the organisation and its services.
eUKCro don Trustees, report for the year ended 31 March 2024 Organisational structure The Board has two subcommittees: Governance and Nominations, and Finance. Strategic dlrection for the chartty is set by the Board, in consultation with the CEO and Senior Leadership Team. The CEO, supported by the SLT, has dlrect responsibility for strategy implementation via the organisation's core functions and its services. The Board has adopted a scheme of delegation which sets out in detail the re5ponsibilitie5 of the Board, CEO, SLT and Integrated Leadership Team IILT). Networks and partnershlps Age UK Croydon is a brand partnerwithin the Age UK national network. The terms of the partnership are Set out in the Brand PartnerAgreement, which allows Age UK Croydon to develop its operating policies alongside Age UK and other brand partners, but also retain the abilityto create other5 according ta need. The partnership enables Age UK Croydon to benefit from the strength and support of a larger network, participate in national campaign5 and add the voice of our clients to lobbying efforts, keeping older people's rights on the national agenda while remaining able to operate effectively as a local, independent charity. We have passed the Age UK national quallty standard for infomiation and advice services. We partner with many organisations within the voluntary settor within Croydon to provide streamlined and relevant services. We are members of the Local Voluntary Partnership Board and of One Croydon Alliance, which brings togetherthe South West London NHS Clinical Commissioning Group, the South Londori and Maudsley NHS Trust. the London Borough of Croydon. the Croydon GP Collaborative and the Voluntary Sector in Croydon and is focussed on improvingthe health and wellbeing of all adults in the borough. Strate8y and Governance Following several planning and discussion sessions with the Trustee Board, Senior Leadership Team, Integrated Leadership Team and Age UK Croydon Staff between April and September 2023, our 3 year strategy was launched in November 2023. We have 5 key objectives for the strategy: Sol. Achieving sustained income growth, focusing on unrestricted income, so that we can invest, innovate and build capacity S02. Expand our reach in our community, so that more people know about us and can benefitfrom our services. {Particular focus on making our services accessible, accessing underrepresented groups) 503. Working together to deliver a holistic client journey, making every contact count S04. Building one diverse. Skilled and empoweredteam. We will attrart, retaln and nurture staff and volunteers, so that everyone fulfils their potential 505. Becoming the organisation of choice for funders, partners and as an employer Our strategy is guided by our Vision and Mission and underpinned by ourvalues and our One Team One Organisation Approach to integrate our servlce offer and provide a truly person-centred approach to workin8 Wlth older residents In Croydon. AUKC wlll continue to deliverservice against a mixed environmentof challenge and opportunity.
A eUKCro don Trustees, report for the year ended 31 March 2024 Fundraising activities During the year, we have not actively raised income from community fundralslng and have not recelved any complaints in respect of such activity. We are not aware of any breach, material or otherwise. of anv fundraising code or regulation and because communityfundraising plays no materlal role in our income generation activity, we are not registered with the UK Fundraising Regulator. The charity does not use professional fundraisers or commercial participators in connection wtth public fundraising. Ob"ertives and ie Our Vlslon . Valuing Agelng Improvlng Llves Growlng Communltles Our Mlsslon . to reach. Involve, 5UPPOrt and connect people so they can age well In Croydon. Our charitable objectives as set out in our Memorandum and Articles of Association are to promote the following purposes for the benefit of the public andlorolder people in and around the London Borough of Croydon: (al preventing or relieving the poverty of older people; (b) advancing education; (c) preventing or relieving sickness, disease or suffering in older people (whether emotional. mental or physicall; Id) promoting equality and diversity,. le) promotingthe human rights of older people in accordance with the universal declaration of human rights- {fj assisting older people in need by reason of ill-health, disability, financial hardship. social exclusion or other disadvantage; and (8) such other charitable purposes forthe benefit of older people as the Charity trustees from time to time decide- at the discretion of the Charity Trustees. to promote the relief of adults in need by reason of ill-health, disability, financial hardship or other disadvantage where engagement in such activity is considered complernentaryto the Charity's primary purpose.
A eUKCro don Trustees. report for the year ended 31 March 2024 Our activities include the provision of.. Information & Advice- we provide independent, impartial, free and confidentlal Information and advice in the community, overthe phone, by email and onllne. Befriendin we promote independent living by arranging home visits and phone calls from volunteers. Communi hub- our Brig5tock Road hub offers a range of activitiesfor older people and the wider community. Healthier life5 les- we provide regular exercise classes, health checks and wellbeing talks to enable older people to manage and improve their health, and reduce the risk of fa115 at home by arranging aids and horne adaptations which build confidence and independence. Memo Tree café- provides a much needed safe environment for people living with dementia and their family carers. Personal Inde endent Co-ordinators- we work in a person centred way helping people identify their own goals to regain independence and live the life they want to live. Care Home Connettors- delivered in partnership with Asian Resource Centre Croydon, thisservice works With care home residents over 18 and theirfamilies to linkthem with health and social care teams and services and activities in the local community. Our staff team of 50 is supported by over 90 dedicated volunteers who work together to deliver our sep4ices. We aim to provide a holistic solution for older people to access the services they require in one place. Volunteers This year, our Volunteer Programme prioritised growing the number of volunteers across the organisation, with a focus on improving engagement during the recruitment and onboarding process. Another priority wa5 to ensure that potential volunteers understood that we offer flexible volunteer roles that could fit into their weekly schedule. We reached a total of 98 active volunteers. We actively reach out to people who have never volunteered before. WFth 56% of our volunteer team having no prior volunteering experience. Despite this. we were pleased to see a high level of volunteer Satisfaction with 98% of volunteers reporting feeling highly satisfied or Satisfied with their experience with us. Additionally, 89% of ourvolunteerswould recommend volunteering with Age UK Croydon to a friend. Achievements and erformance Information and Advice The Information & Advice Service works borough-wide to provide access to quality-assured free, lrnpartial information and advice overthe phone, via email and in person either at home or in outreach venues. Our helpline service ha5 continued to provide sUPPOrt to clients, their relatlve5 and friends and professiona15 across the borough. The helpline team of staff and volunteers assess needs and offer tirnely and relevant information and signposting responses. They also refer on, where required. to our advisers or to otherA8e UK Croydon services.
eUKCro don Trustees, report for the year ended 31 March 2024 We have a small team of one full-time and three part-tlme advisers who offer specialist advice, face to face (including home visits} or over the phone . Demand for this service is constantly high with a wide ran8e of challen8Ès. These commonly include cost of living issues, digital isolation, council tax arrears, housing problems, issues accessing support and applying for benefits, plus many more concerns relating to ageing and navigating statutory and other services for themselves or those they care for. During 2023-24 our Helpline responded to 4943 enquirles on the phone or via email. In addition, the number of in-person enquiries at our Brigstock Road office has grown rapidly, with 184 visitors durin8 the year. We received 803 advlce referrals during the year, and 324 outreach enquiries. We have supported many clients to apply for benefits and maximise income, resulting in a total monetary outcome figure for the year of £1.209.530. Befriendin service Our Befriending Service continues to prove popular, with manyvolunteer applicants requesting to become befrienders. Most matches have transitioned from phone-based interaction5 to face-to-face meeting5, reflecting a preference for more personal connections from clients. We successfully integrated our Befriending Service into the Care Home Connertor initiative. pairing volunteers with residents in care and nursing homes. This pilot program proved highly successful and popular for residents and volunteers who appreciated the opportunity to engage directly with care home residents. Currently. we have 58 ongoing befriending matches. with 52 volunteers actively engaged. The average length ofthese befriending relationships is 15 months, indicating a high level of commitmentfrom both volunteers and clients. Communi en ement The Community Engagement Service has expanded our reach in Croydon this year, We have ventured out into the community, working c105ely with other Voluntary, Community and social Enterprise {VCSE) organisations, strengthening existing connections and listening to the voices of new and existing clients to deliver a popular range of events and activities. We actively engaged new clients through outreach at various community and voluntary sector groups such as the University of the Third Age. Croydon Vision, faith groups such as the Ahmadiyya Musllm Women's Association and many more. Additionally, we played a pivotal role as hosts and delivery partners at the Brigstock Road'community Hub, as part of the Healthy Communities Together programme. Over the past year our Brigstock Road site h05ted 256 activity sesslon5. attracting 5,044 visits and 128 new activity registrations. Supported by a team of 22 volunteers, we successfully launched and delivered new events and activitie5.
eUKCro don Trustees, report for the year ended 31 March 2024 Healthler Llfe5t les Live Love Loter Life is a service which focuses on delivering physical activity and health promotion in Croydon care homes to help reduce falls and frailty. We aim to deliver, educate and provide care homes wlth a sustainable model with whlch to continue once our interventlon ends. In 2034/34 we worked with 16 care homes, reaching 342 care home residents and 124 community residents throughout 777 sessions (exercise cla55es. wellbeing talks and health a5se55ments. The Personolsafety Project delivers a very successful service that facilitates mlnor aids and adaptations to be made in the homes of those living independently in Croydon. OurTrusted Assessors do a full risk assessment before recommending and sourcing equipment that can aid independence and reduce the risk of falls. The project aims to enable people over 65 to stay living independently in their own homes for longer than they would othenwi5e and contributes to relieving pressure from statutory Occupational Therapy services. This year PSP received 400 referrals. 888 risk assessments and follow ups were carried out. Handrails were fitted in 372 properties and other equipment non fixed equipment provided in 280 properties. Heolthsmart deliver5 Health Hubs to clients in community settings across Croydon. These Health Hubs aim to improve health promotion and awareness throu8h exercise sessions, health & wellbeing talks and through the delivery of basic health checks such a5 blood pressure. BMI, waist circumference and diabetes screening. Starting in February 2023, the last year has seen us set up and establish 6 Health Hubs across the borough. Each hub location has continued to grow in popularity month on month and we have had to set up additional hubs due to reaching capacity in Some areas. Over the past year 437 clients have engaged with Health Smart with 5269 attendances at Heah Hubs and a further 121 attendances at Outreach sessions. In total we ran 284 exercise sessions and conducted 1227 health checks. Memo Tree cafe We have three established 'MemoryTree Cafe5 for people living with dementia IPLWD) and their carers in North. South and E35t Croydon. The cafes give our clients acce5S to: social engagement: other people with the same lived experience; information and signposting to other services and a range of fun. stimulating activities. We delivered 114 sesslon5 across our 3 venues reaching 134 PLWD and their carers. Personal Inde endent Co-ordinators The Personal Independence Coordinator (PIC) service works with older people (aged over50} who have complex range of health and support needs to help them identify theirown personal goals so they can retain and regaln their independence. The alm is to help people become better informed about how to manage their own health and to help them live independently for longer, as well as to help mlnimise unplanned hospital visits.
eUKCro don Trustees, report for the year ended 31 March 2024 In a significant milestone, the NHS South West London Integrated Care Board {ICBI awarded us with the Supporting Independence in Croydon contract, acknowledging our role and ¢ontribution towards fostering independence among Croydon's residents. In 2023124 we received 591 referrals. PICS supported 752 older people and spent over 4189 hours engaged with clients. As a result 930 goals were achieved by clients {95%1 Life Essentials Assessment Framework (LEAF) 71s a preference-based Quallty of Life self-assessment tool which addresses the needs of vulnerable, older people. The person being supported rates themselves in relation to seven aspects of their life in terms of their ability to have, be and do the things that they value. Overall 75% of client5 saw positive changes whilst working with PICS, with 88% either maintaining or seeing further positive changes after the PIC engagement was complete. Care Home Connectors The Care Home Connectorservice is a partnership between Age UK Croydon and the Asian Resource Centre with AUKC being the lead partner. This innovative service works with all types of care homes in the borough and with care home residents over the age of 18 who are registered with a Croydon GP. The team provides a valuable link between care homes, residents and their families to the support and services which are available in the local community. Overall, the service aim5 to make care homes, residents and their families feel more connected, informed and less isolated. From April 2023 to March 2024. the service worked with 266 residents and 66 care homes accepted the SeiCe. 610 signposts and referrals were made to 210 separate or8anisation5 and services. 92% of residents, goals were achieved. Estate and sustainabili In summer 2023 we exited our leased offices in Central Croydon and refurbished our main site at Brigstock Road with works including replacing the electrical installation and toilets and redecoration throughout. In our ongoing commitment to environmental responsibility. we have successfully reduced our carbon footprint across various areas during the refurbishment project. Notably, improvements have been achieved In all aspetts except fora minor increase in waste, which Can be attributed to the closure of our central Croydon offices and the necessary clearing of storage spaces. Our thoughtful refurbishment choices include: Electricol Installotion and W¢7ter cOnsetion.. We engaged a local Croydon-based contractor for a comprehensive elertrical installation. Environmentally friendly practices were prioritized, such as fitting mixer taps with flow limiters to conserve water and reduce energy consumption.
A eUKCro don Trustees, report for the year ended 31 March 2024 Recycled Paint Initiotive.. Through collaboration wlth Community RePalnt1sponsored by Dulux), we sourced recycled paint. This initiative not only benefits Individuals, families, communities, and charitles but also contributes to waste reduction. Acknowledgment5 and Grotitude.. We extend our appreciation to the HM Prison & Probationary Service5- Payback scheme for their valuable contributions. Staff, clients, and volunteers provided feedback and demonstrated patlence duringthe refurbishment process. Looking ahead, our future plans involve raising funds to complete additional refurblshment work, including addressing roofing, heatin& and window needs. We remain steadfast in our commitmentto sustainability and environmental awareness. Flnancial Revlew Financlal performance durlng the year The charrty delivered a solid financial performance in the year. Significant contracts continued throughout the year for Personal Independence Co-ordinators, Personal Safety Project and Live Love Later Life. These contracts were subject to a tender during the year and the charity was Successful in retaining them. In addition the Care Home Connectors contract continued during the year, delivered in partnership with the Asian Resource Centre Croydon, ahoUgh since the yearend this contract has ceased. New grant funding was secured from Age UK'S Cost of Living fund for a new Community Engagement Lead. In addition funding from Croydon Relief in Need for MemoryTree café and Garfield Weston for core costs were welcome. Followingthe1055 of funding for Information & Advice notified in the previous year, the Board had committed part of the Special Projects reserve to support this and other services which are not fully funded. In the event, increases in core income and cost savings, principally from vacancies to which the charity was unable to recruit due to uncertainty during the long contratttender process, meant that reserves support was not needed in the year. The charity continues to operate in an uncertain funding environment for its non-contract service5 and awaits the result of several substantial bids. The Board has agreed continuing support from reserves during this period. The charity continued its partnerships with other local organisatlons both voluntary and statutory to deliver programmesfunded by the Integrated Care Board and the National Lottery Community Fund. The charity holds the funds and distributes them to its partners without itself carrying out any substantial service delivery. Thi5 artivity increased significantly in the year with the addition of a new Local Commissioning Model delivered in partnership with Croydon VoluntaryAction. The funds have been included in both income and expenditure and amounted to £415.493 in the year {2022-23: £109.769).
eUKCro don Trustees, report for the year ended 31 March 2024 Total income for the year was £2,311,621 {2022-23: £2,032,546) Of thi5 £698,255 {2022-23'. £491,008) is restricted and £1,613,366 (2022-23: £1,5415381 is unrestricted. Total income therefore rose by £279,075. The major differences from the previous year were: new Healthsmart project + £119k - expanslon of Community Engagement + £39k partnership projects + £306k reduction in I&A funding- £179k Total expenditure for the year was £2,305,667 {2022-23: £2,060,656) of which £757,59712022-23: £565,000) was spent from restricted funds and £1,548,07012022-23.' £1,495,656) from unrestricted funds, leaving total reserves of £1,215,18412-22-23: £1,201,587). Total reserves comprise £30,87512022-23'. £39,411) which are restrltted and £1,184,30912022-23: £1,162,176) which are unrestricted. Further detail of the reserves including designation is set out below. Total expenditure rose by £245,011 largely following the changes in income. The charity spent almost £83.000 on refurbishing its Brigstock Road headquarters so expenditure would have been higher, but staff vacancies persisting through the year led to a significant reduction in staff costs. The overall result for the year was a surplus of £13,597 {2022-23: deficit of £30.4081. Flnancial posltlon at the year end The charity continues to be in a sound financial position. Unrestricted reseeS increased reflecting the surplus position. Althou8h cash balance5 fell, this was partly balanced by an inCaSe in short term cash investments. A change from invoicing in advance to arrears in relation to the charity'5 largest contract caused a reduction in deferred income. The new contract signed in April 2024 returns the charity to invoicing monthly in advance which should result in reduced trade debtors in 2024-25 compared to the vearend position. Remuneration policy The trustees are responsible for determining the salary of the CEO. All other salaries are benchmarked against the market from time to time. All staff are paid at or above the London Living Wage. Trustees receive no remuneration otherthan their expenses. Investment policy The charity's investment pollry delegates decisions on investments to the Finance Committee. Funds over and above those required for day to day activities are held either in bank accounts or a diversified investment portfolio managed by an external investment manager. The charity has adopted a cautious approach to risk and aims to maintaln real capital value. The investment manager is instructed to avoid investment in armaments or tobacco. Cash balances surplus to immediate requirements a held in Interest-bearing accounts with maturlties ranging from instant access to 12 months. io
eUKCro don Trustees, report for the year ended 31 March 2024 Resevves policy The reserves policy is designed to balance the requirement to hold funds to cover risk5 whilst allowing the or8anisation to invest funds in projetts aimed at delivering benefits to the older people of Croydon. The trustees consider that the charity should hold sufficient reserves for the followlng purposes: eratin reserve to cover the position if the charity faced closure and required fund5 to meet all obligations in such an event Buildin and ca ital asset reserve to cover repairs not covered by insurance, improvement to the capital assets of the organisation or to allow for necessary capital asset acqui5ttion ui ment re lacement reserve to covera rolling programme of replacement of IT equipment Fair Value reserve to hold unrealised gains on the investment portfolio against Possible future1055es ecial ro ects reserve to fund new projects focussed on developing new seNices. The trustees review the targets set for each reserve annually and the allocation of the total available unrestricted reserve to those targets. Risk Management The trustees continue to assess the major risks to which the charity is exposed. Risks are recorded in a risk register which is reviewed by the committees quarterly and the Board on an annual basis. Major risks identified in this reporting period were: Income not well diversified with reliance on a few key contracts - the charity continues to have close relationships with it5 funders and 15 regularly invited to submit expressions of interest in new services. We are using the SeiCe$ of a freelance fundraiser to increase bids to grantmakers. IT failures and 5ecurity- although the charity has external support and robust security procedures, it is very dependent on its IT and this inevitably remains a risk area. Response plans are to be further developed in the coming year to address the risks. The charity has recentty successfully completed the NHS data security toolkit and Cyber essentials rea55essments. Future plans Several initiatives are being planned for the year 2024-25 and beyond. Some of the key initiative5 are given below.. Review our strategy for raising funds from trusts and foundations and explore how we can increase our succe55 rate including signing up of new consultant bid writer Focu5 on Impact and continue to develop data skills and capacity within the organisation - Strength the Dementia Alliance with robust partnerships from local businesses, community residents and partner organisations. This is in line with Mayor of Croydon'5 pledge to make Croydon a Dementia friendly borough Further develop our Engaged Client Groups focusing on both clients and volunteersto ensure their feedback and voice is embedded in our services - Continue to take furthersteps in our One Organisation One team approach to provide holistic services for our clients, making every contact count Contribute to the development of a robust VCS Alliance to ensure stronger VCS voice wlthin the statutory system Enhance and develop partnerships to bulld capacity and reach of our services and support li
eUKCro don Trustees, report for the year erided 31 March 2024 Reserves and Golng concern At the balance sheet date the charity's total reserves were £1,215,184. After deducting restrirted ftjnds together with the value of tangible fixed assets and fair value reserve. the reserves freely available to the charity were £639.002. The trustees have reviewed these reserves and have designated them as follows: operating reserve £250.000 building and capital asset reserve £150,000 equipment replacement reserve £io.000 special projects: support for projects In 2024-25 £99,000 special projects reserve £130,002 The majority of the building and capital assets reserve was spent as anticipated during the year on the refurbishment of the Brigstock Road Premises. Further works are planned forthe medium term and trustees agreed to increase the value of the reserve to £150,000. Trustees established a new designated reserve for equipment replacement with an initial allocation of £10,000. The trustees also designated part of the Special projects reserve for specific services to cover timing gaps while newfunding is sought. These funds are expected to be spent within the next 12 months. The charity ha5 prepared plans and forecasts (including on a reasonable worst case basis) which provide comfort that the charity has sufficient reserves to continue to operate for at least 12 months from the date of signing the balance sheet. 12
eUKCro don Trustees, report for the year ended 31 March 2024 Statement of Trustees, res onslbilltles In relation to the flnanclal statements The trustees (who are also directors of the charitable company for the purposes of company law) are responsible for preparing the Tru5tees' annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (Unlted Kingdom GenerallyAccepted Accounting Practice). Company law requires the Trustee5 to prepare financlal statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fairview of the state of affairs of the charitsble company and of the incoming resources and application of resources, including the income and expenditure of the charltable company forthat period, In preparing these financial statements, the Trustees are required to: al selett suitable accounting policies and apply thern consistently; b) observe the method5 and principles in the Charities SORP. cl make judgments and estimates that are re350nable and prudent- dl state whether applicable UK accounting standards have been followed, subjectto any material departures disclosed and explained in the financial statementS- el prepare the financial statements on the going concern basis unle55 it is inappropriate to presume that the charitable company will continue in operation. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company, and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responslble for safeguarding the assets of the charitable companyand for taking reasonable steps forthe prevention and detertion of fraud and other irregularities. The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Thi5 report, which has been prepared in accordance with the special provisions relatingto companies subject to the small companie5 regime within Part 15 of the CompaniesAct 2006, was approved by the Board on SeHeitsJv24and signed on its behalf. Sam Nlcklln 13
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF AGE UK CROYDON Opinion We have audited the financial statements of Age UK Croydon (the 'charitable company'l for the year ended 31 March 2024 which comprise the statement of flnancial activities, balance sheet, Statement of cash flows and notes to the financial statements, Including signlflcant accounting policies. The financial reportlng framework that has been applied in thelr preparation is applicable law and United Klngdom Accounting Standard5, including FRS 102 The Financial Reporting Standard applicoble in the UK and Republlc of Ireland (United Kingdom Generally Accepted Accounting Practice). In our oplnlon, the flnancial statements: - Give a true and fairview of the state of the charitable companTr/s affairs as at 31 March 2024 and of its incoming resources andapplication of resources, Including its income and expenditure forthe year then ended Have been properly prepared In accordan with United Klngdom Generally Accepted Atcounting Practice Have been prepared in accordance with the requirements of the Companies Act 2006. Basls for oplnlon We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs (UKI) and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK. including the FRUS 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 bas15 for our opinion. Concluslons relatln8 to golnE concern In auditing the financial statements, we have concluded thatthe 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 siEnificant doubt on Age UK Croydon's ability to continLte as a going concern for a period of at leasttwelve months from when the financial statements are authori5ed for issue. Our responsibilities and the responsibilities of the tru5tee5 With respect to going concern are described in the relevant sections of this report. Other Inforniatlon The other information comprisesthe information included in the tru5tees' annual report other than the financial statements and our auditorfs reportthereon. The trustees are responsible for the other Information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitlystated in our report, we do not express any form of assurance concluslon thereon. 14
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF AGE UK CROYDON 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 obtalned in the course of the audit, orotherwise appears to be materially misstated. If we identify such material incon51stencies or apparent material misstatements, we are required to determine whetherthis 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 nothingto report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In ouropinion, based on the work undertaken in the course of the audit". The information given In the trustees, annual report for the financial year for which the financial statements are prepared is conslstent with the financial statements; and - The trustees, annual report, including the strategic report has been prepared in accordance with applicable legal requirements Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees, annual report. We have nothingto report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - Adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - The financial statements are not in agreementwith the accounting records and returns; or Certain disclosure5 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 director5 were not entitled to prepare the financial statement5 in accordance with the small companies regime and take advantage ofthe small companies. exemptions in preparingthe trustees, annual report and from the requirement to prepare a Strategic report. Responslblllties of trustees As explained more fully in the statement of trustees. responsibilities set out in the trustees. annual report, the trustees {who are also the dirertors of the charitsble company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparin8 the financial statements. the trustees are responsible for assessing the charitable companvs ability to continue as a going concern. disclosin& as applicable, matters related to Boing concern and using the going concern basis of accounting unless the trustees either intend to liquidate 15
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF AGE UK CROYDON Audltorfs responsibllities for the audlt of the 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 audltorfs 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 deslgn procedures in line with our responsibilities, outlined above, to detett material misstatements in respect of irregularities, including fraud. The extent to which our procedure5 are capable of detecting irregularities, Including fraud are set out below. Capability of the audit in detecting irregularltles In identifying and assessin8 risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following.. - We enquired of management and the finance, audit and risk committee, which included obtaining and reviewingsupporting documentation. concernin8 the charity's policies and procedures relatingto- Identifying, evaluating, and complying with laws and regulations and whether they were aware of any instances of non-compliance- Detecting and responding to the risks of fraud and whether they have knowledge of any actual, Suspected, or alleged fraud; The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations. - We inspected the minutes of meetings of those charged with governance. - We obtained an understanding of the legal and regulatoryframeworkthat the charity operate5 in. focusing on those laws and regulations that had a material effect on the financial statements orthat had a fundamental effect on the operations of the charFtyfrom our professional and settor experience. -we communicated applicable laws and regulations throughout the audit team and remained alert to any indications of non-compliance throughout the audit. - We reviewed any reports made to regulators. - We reviewed the financial statement disclosure5 and tested these to supporting documentation to assess compliance with applicable laws and regulations. - We performed analytical procedure5 to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud. In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entrie5 and otheradjustments, assessed whetherthejud8ement5 made in making accounting estimates are indicative of a potential bias and tested Significant transactions that 16
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF AGE UK CROYDON Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. Th15 risk increase5 the more that complianee with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involve5 intentional concealment, forgery& colluslon, omi55ion or misrepresentation. Use of our report This report is made solelyto the charitable company's members as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might State to the charitable company's members those matters we are required to stste to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone otherthan the charitable company and the charitable company'5 members as a body, for our audit work, for this report, or for the opinions we have formed. Kevin Fisher FCA {Senior Statutory Auditor) For and on behalf of Myrus Smith Chartered Accountants and Statutory Auditors Norman House 8 Burnell Road Sutton, Surrey SMI 4BW 17
eUKCro don Statement of financial activities and Income and expenditure account for the year ended 31 March 2024 Totsl funds 2024 Total funds 2023 Unrertrlcted Restricted funds funds Unrestrlded fvnds Restrlrted funds Note Income from: Donations and legacles Charitsble actlvltles Other tradlng actlvitles Investments 32,299 1,537.227 4.736 39,104 129,513 568,742 161,812 2.105,969 4,736 39,104 32.967 1,501,640 6,931 77.298 413,710 110.265 1,915.350 6.931 Total Income 1,613,366 698,255 2,311.621 1,541.538 491,008 2,032,546 Expendfture on: Raising funds Charltable activities 34.069 1.514.001 34,069 2,271,598 32.760 1.462,896 32.760 2.027,896 757,597 565,000 Total expendllure 617 1.548,070 757.597 2.305.667 1,495.656 565.000 2,060,656 Net 8ainlllos51 on fixed asset disposal Net gain/{loss) on investments 1336) 13361 13 7,979 7.979 12,298) (2.2981 Net Incomellexponditure) 72,939 159.342) 13,597 43,584 {73,9921 (30,4081 Transfers between fund$ 17 (50.8061 50,806 18.4761 8.476 Net movement In funds 22,133 18.5361 13,597 35,108 165.5161 130.4081 Remnclllatlon of funds Total funds brought forward Total funds carrled forward 1.162.176 39,411 1.201.587 1,127.068 104.927 1,231,995 17 1,184,309 30,875 1.215,184 1.162,176 39,411 1.201,587 All of the above results derive from continuing activities. There were no other recognised gains and losses other than those stated above. Movements in funds are disclosed in note 15 to the financial statements. 18
A eUKCro don Company no. 03921436 Balance sheet as at 31 March 2024 Note 2024 2023 Flxed assets Tangible assets Investment In Age UK Croydon Trading Ltd Investments Total fixed assets li 12 13 519,525 loo 120.007 639,632 527,332 loo 113,283 640,715 Current assets Debtors Investments Cash at bank and in hand Total current assets 14 15 542.274 425.000 534.688 1.501,962 344,881 249.000 1,331,863 1,925,744 Credltors: amounts falling due within one year 16 1926.410) 11,364,872) Net current assetsllllabillties) 575,552 560,872 Total assets less current Ilabllltles 1,215,184 1,201.587 Net assets 18 1,215,184 1,201,587 The funds of the charity: Restrirted funds Unrestritted funds: General funds Designated funds Total unrestricted funds 30,875 39,411 519,525 664,784 527,332 634,844 1,184,309 1,162,176 Total charlty funds 17 1,215,184 1,201,587 These accounts are prepared in accordance with the special provisions of Part 15 of the Companies Act relating to Small companie5 and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company. The accounts were approved and authorised for issue by the trustees on and signed on_their behalf by: Sam Nicklin, Chair 19
eUKCro don Company no. 03921436 Statement of Cash Flows forthe year ended 31 March 2024 Note 2024 2023 Cash {used in)Iprovided by operatlng actlvltles 20 1660,279) 146,6741 Cash flows from Investlng artlvltles Investment income 39,104 Purchase of current asset investments 15 1176,000) (249,0001 Purchase of tangible fixed assets 16,6931 Cash used In Investlng artlvltles 1136,896) (255,693) {Decreasel/lncrease in cash and cash equivalents in the year (797,1751 1302,3671 Cash and cash equivalents at the start of the year 1,331,863 1,634.230 Cash and rash equivalents at the end of the year 534,688 1,331,863 Analysis of changes In net debt At start At end Cashflows Cash 1,331,863 1797,175) 534,688 1,331,863 {797,1751 534,688 20
A eUKCro don Note5 to the accounts forthe year ended 31 March 2024 I Statutory information Age UK Croydon is a private company limited by guarantee wlth no Share capital, domiciled in England and Wales, registration number 03921436. In the event of the charity belng wound up. the liability In respect of the guarantee is restricted to £1 per member of the company. 2 A¢countlng pollcie5 The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: lil Basis of re aration The financlal statements have been prepared in accordance with Accounting and Reporting by Charities- Statement of Recommended Prartice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effettive l January 20191- Icharities SORP (FRS 10211. the Financial Reporting Standard applicable in the UK and Republic of Ireland (FR5 102) and the Companies Act 2006. The accounts are prepared in Sterling, which 15 the functional currency of the charity. Monetsry amounts in these financial statements are rounded to the nearest £1. Age UK Croydon meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transattion value unless otherwise stated in the relevant a¢counting poliry note{s). lill Pre aration of the accounts on a oin concern basi5 The trustees consider that there are no material uncertainties about the charitsble company's ability to continue as a going concern. The Trustee5 do not consider that there are any sources of estimation uncertainty at the reporting date that have a Significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period. liiil Fund accountin Unrestricted funds are available for use at the discretion of the Tnjstees in fijrtherance of the general objectives of the charity. Designated funds are unrestrirted fund5 earmarked by the Trustees for particular purposes. Restricted funds are subjert to restrittions on their expenditure imposed by the donor or through the terms of an appeal. 21
eUKCro don Notes to the accounts for the year ended 31 March 2024 2 Accounting politles (cont'd) (lvl Income reco nition Income is recognised and Included in the accounts when all of the following criterla are met: the charlty ha5 entitlement to the funds receipt of the income is considered probable the amount can be measured reliably. The following speclfic policies are applied to particular categories of Income: Donated goods, services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included in these accounts. For legacies, entitlement is taken as the earlier of the date on which elther-. - the charity is aware that probate has been granted, the estate has been finalised and notification has been made to the charity that a distribution wlll be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliabtv and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the grantin8 of probate, and the criteria for income recognition have not been met, the legacy is treated as a contingent asset and disclosed if material. Government grants are recognised when receivable unless performance-related conditions apply to them.. in which case they are recognised when the performance-related conditions are met. Investment income is cOgnIsed on an accruals basis. Income received in advance of the charity becomlng entitled to it is deferred until such time as the services have been provided, enditure Expenditure is recognised once there is a legal or construttive obligation to make a payment to a third party, it is probable that settlement will be reqUId and the amount of the obligation can be measured reliably. Expenditure Include5 any VAT which cannot be fully recovered. and 15 reported as part of the expenditure to which it relates. Costs of raising funds comprise the costs asy)ciated with attracting voluntary income and attivities for generating funds. Charitable expenditure comprises those costs incurred by the charlty in the delivery of its artivities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and th05e Costs of an Indlrect nature necessary to 5UPPOrt them. Governance costs include those costs associated with meetlng the constitutional and ststutory requirements of the charlty ènd includethe audit fees and costs linked to the strategic management of the charity- All costs are allocated between the expenditure categories of the ststement of financial activities on a basis designed to reflert the use of the resource. Costs relating to a particular actlvity are allocated directly, others are apportioned on an appropriate basis using a combination of staff numbers and staff time. 22
eUKCro don Notes to the accounts for the year ended 31 March 2024 2 Accounting policles (cont'd) (vll Flxed assets Tangible fixed assets are stated at cost less accumulated depreciation. The cost of minor additions or those costlng below £500 are not capitalised. Depreclation is provided at rates calculated to write off the cost of each asset over its expected useful life. The rates used are as follows.. computers. fixtures and fittings freehold land and buildings 20% reducing balance do not depreciate Freehold buildlngs are not depreciated on the basi5 that repairs expenditure is Incurred to maintain the condition of the asset. which is at least equivalent to what depreciation would have been. Although this accounting policy is in accordance with FRS 102, it is a departure from the general requlrement of the Companies Act 2006 for all tangible fixed assets to be depreciated. In the opinion of the trustees. compliance with the standard is ne¢e553ry for the financial statements to give a true and fair view. Depreciation is only one of many fattors reflected in the annual valuation and the amount of this which might otherwise have been changed cannot be separately identified or quantified. Investments held as fixed assets are revalued at mid~market value at the balance sheet date and the gain or loss taken to the ststement of financial activities. {viil Pensions The charity's employees are able to make contributions into a defined contribution penslon Scheme. Eligible employees are automatically enrolled unless they have exercised their right to opt out of scheme membership. Employees may ch005e to contribute 4% or more of their salary and the charity contributes 4%. Iviii Debtors Trade and other debtors a recognised at the settlement amount due after any trade discount offered. Prepayments are valued atthe amount prepaid net of any trade discounts due. lixl Current asset investments Current asset investments include deposits held with a maturity of between three and twelve months. {xl Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. (xil Creditors Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated rellably. Creditors and provisions are normally reco8nised at their settlement amount after allowing for any trade discounts due. Ixiil Flnancial instruments The trust only has financial assets and financial liabilltle5 of a kind that qualify as baslc financial instruments, Basic financial instruments are initially recognised at transartion value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost uslng the effertive interest method. 23
eUKCro don Notes to the accounts forthe year ended 31 March 2024 3 Income from donations and legacies Unrestrlcted Restrlcted funds funds Total 2024 Unrestrfrted funds Restrlcted funds Total 2023 Donations Legacles Grants: Music for Dementia/ The Utley Foundation Mercersmie Charity of Sir Richard Whvttington Charities Aid Foundation Croydon Relief in Need London Catalyst Garfield Weston Age UK London Age UK Emmanuel Hospital Others Donation in kind: Ecoaudlt 7,620 2,179 1,737 9,357 2,179 1,421 6,865 17,523 17,523 3,639 3.639 5,833 5,833 55.000 14.860 3.000 55,000 14,860 3.000 12,500 3,616 44.800 12,500 1.000 3.000 55,000 55,000 12.500 3,616 34,800 12.500 1.000 3,000 10,000 10,000 10,000 10.625 10,625 780 Total 32,299 129.513 161.812 32,967 77,298 110,265 4 Income from charitable activities Unrestricted Restricted funds funds Total 2024 Unrestricted funds Restricted funds Totsl 2023 Healthier Lifestyles ABe UK London Personal Independence Co-ordinators Care Home Connectors ICB Innovation fund Memory Tree Cafe Dementia café in a care home Information and advice HCT Healthier Communities Together Local Voluntary Partnership/ Localsties Commissionlng Wlnter Pre55ure 230,490 125.500 355.990 219.156 24,800 921.945 7.000 226,156 24.800 921.945 918,007 918,007 255,975 34,200 255,975 34,200 3.684 16,565 78,608 252.337 244,785 48,500 244,785 48,500 40.000 5,042 263,567 113,769 3,684 16,565 7,500 243.720 40,000 5,042 251.899 109,769 71.108 8,617 11,668 4,000 18,830 171,773 190,603 1,625 1,625 25,161 25,161 1,537,227 568,742 2,105,969 1,501,640 413.710 1,915,350 24
eUKCro don Notes to the accounts for the year ended 31 March 2024 5 Income from other tradlng activltles Total 2024 Total 2023 Brigstock Road Community Hub Fundraising activities FIT solar panels Other 2,025 1,979 257 47S 2,575 3,611 602 143 4,736 6,931 All income from trading activities relate5 to unrestricted funds. 6 Expenditure allocatlon- current year Total funds 2024 Staff costs Other dlrert costs Partner payments Support costs Charttable actlvitles Information and Advice Befriending & Community Engagement Healthier Lifestyles Memory Tree cafe5 Care Home Connectors Personal Independen Co-ordinators Innovation fund Brigstock Road community hub Bri85tock Road Refurbishment HCT Healthy Communities together Localitie5 Commissioning Moving costs Hardship fund 142.427 90,912 186,384 35,655 117,996 586,942 5,504 2,380 4,356 17,577 7,059 968 7,712 53.648 49.455 68,803 18,213 41,409 209.008 1.661 9,285 198,455 144,723 272,764 60,927 253,101 803,662 7,165 16,278 82.985 243,720 171.773 14,472 1,573 92,728 6,993 82.985 243,720 171,773 14,472 1,573 1.165,820 146,075 508,221 451,482 2,271,598 Raislng funds Fundraising costs 17,066 14,694 2.309 34,069 17,066 14.694 2.309 34,069 Governance Premises costs General sUPPOrt Costs 7,860 65.404 54.365 127,629 17,860} 165.4041 1380.527) 1453,7911 326,162 326.162 Totsl 1,509,048 288,398 508,221 2,305,667 25
A eUKCro don Notes to the accounts for the year ended 31 March 2024 6a Expendlture allocation- previous year Total funds 2023 Staff costs Other dlrect costs Partner payments Support costs Charltable actlvltles Information and Advlce Winter Pressures Befriending Healthier Lifestyles Memory Tree cafes Care Home Connectors Personal Independence Co-ordinators Innovation fund Brigstock Road community hub HCT Healthy Communities together Hardship fund 164,456 13.690 41,003 135,928 26,229 101,089 641.876 4,894 4,190 105 1,387 5,567 7,758 1,551 13,376 94,562 72,241 6,701 26,917 63.294 12.979 45.965 269,821 1.612 13.926 335.449 20,496 69,307 204.789 46.966 245,157 925,073 48.006 19.726 109,769 3,158 96,552 41,5(Kl 5.800 109,769 3,158 1,129,165 42.892 342,383 513.456 2,027.896 Raising funds Fundraising costs 16,330 14,400 2,030 32.760 16,330 14,400 2.030 32,760 Governance Premises costs General support costs 9,446 122,810 79.348 211,604 (9.4461 1122,8101 1383,230) 1515,486} 303.882 303,882 Total 1.449,377 268,896 342,383 2.060.656 26
eUKCro don Note5 to the accounts for the year ended 31 March 2024 7 Support costs- ¢urrent year General support Total 2024 Governance Premlses Staff costs Staff c05ts- volunteering Amounts payable to èuditor., statutory audit Payroll Services Legal & Professional Staff training Recruitment and DBS Office costs IT and website Depreciation Telephone Other finance costs Maintenance and other premises costs Rent and service charge Business rates Insurance Light. heat and water Refuse & wate disposal Volunteer costs Other costs 305.850 20,312 305,850 20,312 4.960 4.960 9,444 2,651 1,086 199 8.001 25.286 6,080 18,517 4.923 120,888) 32,904 2,450 7,314 16,191 2.747 1,486 4.278 2,651 1,086 199 8,001 25,286 6.080 18.517 4,923 {32,0001 11.112 32,904 2,450 7.314 16.191 2.747 1,486 4.029 249 7,860 65.404 380.527 453,791 27
eUKCro don Notes to the accounts forthe year ended 31 March 2024 7a Support costs- prevlous year General support Total 2023 Governance Premises staff costs Staff costs- volunteerin8 Amounts payable to auditor: statutory audit Payroll services Legal & Professional Staff training Recruitment and DBS Office costs IT and website Depreciation Telephone Other finance costs Maintenance and other premises costs Rent and service charge Business rates Insurance Light, heat and water Volunteer costs Other costs 291,105 12,777 291,105 12,777 7,000 7,000 4,621 2.479 97 2.073 9,308 23,006 7,977 16.347 3.008 11,582 52.117 5.504 6,461 13,607 514 4,621 158 97 2.073 9.308 23,006 7.977 16,347 3.008 2,321 11,582 52,117 5,504 6.461 13.607 514 5,778 125 40,OIXI 45.903 9,446 122.810 383.230 515,486 28
eUKCro don Notes to the accounts for the year ended 31 March 2024 8 Staff and trustee remuneratlon 2024 2023 Staff costs were as follows: Salaries and wages Social Security costs Employer's contribution to defined contribution pension schemes Redundancy costs 1.339,903 119,965 49.180 1.289,032 112,842 45.939 1.564 Total 1.509.048 1,449.377 The number of employees whose total employee benefits {excluding employer pension costs) exceeded £60,000 were as follows: 2024 2023 £60,000- £69.999 £70,000 - £79.999 None of the Trustees have been paid any remuneration or received any other benefits from employment with the charity or a related entity12023- £nil) One trustee was reimbursed for expenses during the year of £8412023: £nill. The key management personnel of the charity comprise the Trustees. the Chief Executive Officer, and the Senior Leadership Team . The total employee benefits of the key management personnel of the charity were £242,087 {2023.' £230.034). 9 Staff numbers The average number of employees wa5 as follows.. 2024 2023 Headcount Headcount Information and Advice Befriending & Community Engagement Healthier Lifestyle5 Memory Tree cafe5 Care Home Connectors Personal Independence Co-ordlnators Administration & Management Volunteer co-ordination 19 20 52 51 29
A eUKCro don Notes to the accounts for the year ended 31 March 2024 10 Related party transactions The aggregate amount of donations received from related partles in the year was £nil12023: £nil}. There were no other related party transactions 12023: none). 11 Tangible fixed assets Freehold land and buildin Fixtures & Fittin Computer ui Total Cost or deemed c05t At l April 2023 Additions Disp05als At 31 March 2024 489,976 9,996 57,778 557,750 {698) 57.080 (6981 557,052 489.976 9.996 A¢cumufi¥ted depreaatlon At l April 2023 Charge for the year Disposals At 31 March 2024 5,330 933 25,088 6.538 13621 31,264 30.418 7.471 (362) 37,527 6,263 Net book volue At 31 March 2024 489.976 3.733 25.816 519,525 At 31 March 2023 489,976 4,666 32,690 527.332 12 Investment In 5ubsidlary The charity owns 100% of the share capital of Age Uk Croydon Trading Llmited, registered in England and Wales with company number 05792724. The company was dormant in the period with net assets of £lOO. 30
eUKCro don Notes to the account5 for the year ended 31 March 2024 13 Investments 2024 2023 At l April Unrealised gainl(lossl on investments Charges Market value at 31 March 113.283 7,979 11,2551 120,007 116,815 12,298) (1,234} 113.283 Consisting of.. Multi Asset actively mana8ed portfolio Cash 119,799 208 120.007 113.274 113,283 Investments are held within a multi asset portfolio managed by an investment manager. 14 Debtors 2024 2023 Trade debtors Prepayments and accrued income Other debtors 395,498 146,701 75 310,375 34,262 244 Total 542.274 344,881 15 Current asset investments 2024 2023 Deposits with a maturity date of: Three to six month5 Six to twelve months 255,000 170,000 249,1)00 Total 425.000 249,000 31
A eUKCro don Notes to the accounts for the year ended 31 March 2024 16 Credltors: amounts falling due withln one year 2024 2023 Trade creditors raxation and social security Other creditors Deferred Income Accruals 22,604 27,271 8,216 803,541 64,778 67.903 28,541 40,372 1,167,954 60,102 Totsl 926.410 1,364,872 Deferred Income 2024 2023 Balance at beginning of year Amounts released to income Amounts deferd in the year 1.167.954 11.282.8331 918,420 964.391 1959.858) 1.163.421 Balance at the end of the year 803,541 1,167,954 Income is deferred when it has been involced or received in advance of the relevant activity being carried out or lin the case of grant income) when performance-related conditions have not yet been met. 32
eUKCro don Notes to the accounts for the year ended 31 March 2024 17 Movements In funds At l Aprfl 2023 Incomlng resources Outgoing resources At 31 March 2024 Transfers Restrfrted funds: Hardshlp fund 16,354 11,5731 15,281 Information and advice Befriending Healthier Lifestyles Memory Tree cafes Emmanuel H05Pltal Community Engagement HCT Healthier Communities Together LCM Localities Commissioning Funds Ecoaudit 276 1276) 193.7091 {119.106) 160.927) 112,5001 {51,013) 1243.7201 1171.7731 {3.000) 55,000 133,000 39.846 12.500 38,916 243,720 171,773 3,000 38,709 609 22,172 14,503 1,091 12,097 Totsl restricted funds 39,411 698,255 1757,597) 50,806 30.875 Unrestricted fund5: Building and capital assets reserve Operating reserve Equipment replacement reseNe Special projects reserve - unallocated Special projects reserve- 2024-25 support Special projects re5erve- I&A 5pe¢ial projects reserve - Community Fair value reserve loo,000 250.000 (82,985) 132.985 150.000 250,000 10,000 130.002 99.000 10.000 7,306 99,01]0 (115.0001 131,524) 120,517 2.179 115,000 31,524 17.803 7.979 25.782 Total designated funds 634.844 10.158 (82,985) 102.767 664.784 General funds 527,332 1,611,187 11,465.4211 1153,573) 519,525 Total unrestricted funds 1.162,176 1,6ZI,345 (1.548,406) (50.806) 1.184.309 Total funds 1,201.587 2.319,600 (2,306.003) 1,215.184 33
eUKCro don Notes to the accounts for the year ended 31 March 2024 178 Mavements In funds Icont'd) Movements In funds- prevlous year At l April 2022 Incomlng resources Outgoing resources At 31 March 2023 Transfers Restrirted fund5: Hardship fund 18.732 780 13,158) 16,354 Information and advice Befriending Personal Independence Co-ordinators Healthier Lifestyle5 MemoryTree cafes Emmanuel Hospitsl HCT Healthier Communities Together 64,032 251,899 60,833 1315.6551 169,3091 276 8,476 626 7,000 50,102 10.625 109,769 17.017) {46,967} (13,1251 1109.7691 609 22,172 19.037 2.500 Total restricted funds 104,927 491.008 (565,000) 8.476 39.411 Unre5trirted funds: Building and capital assets reserve Operating reSee Special projects reserve - unallocated Special projects reserve - I&A Special projects reserve- Community Fair value reSee 30,000 250,000 298,351 70.000 loo.000 250.000 120.517 115,000 31,524 17,803 1177.834} 115,000 31.524 20,101 {2,2981 General funds 528,616 1,541,538 {1.495,656) 147.166) 527,332 Total unrestricted funds 1.127.068 1.541,538 11,497.954} 18,4761 1.162,176 Total funds 1.231,995 2,032,546 (2.062,954) 1,201.587 34
A eUKCro don Note5 to the accounts for the year ended 31 March 2024 17 Movements In funds {Cont'd) Purposes of restrirted funds The majority of restrirted funds that the charity recelves are restricted to a particular service, and are usually spent wlthin the year of receipt. Where the restrlction is more specific, It is identified within the relevant service. Hardshi fund is available to relieve hardship suffered by older people in Croydon. This is prlmarily used to provide small grants aimed at assisting beneficiarles to acquire essential goods. Purposes of designated funds eratin reser4e: held to cover the position If Age UK Croydon faced closure and required funds to meet all obligations in such an event. Buildin and ca ital a55et resenrfe: held to cover repairs not covered by insurance, improvement to capital assets of the charity. or to allow for necessary capital asset acquisition ment re lacement resetve: held to allow for replacement or repair of equipment (principally IT) ects reserve: held to fund new projects focused on developing new services. Thi5 reserve is created from legacy income received and amounts from unrestrirted surpluses. Fair value reserve.. holds the unrealised gains on the investment portfolio to the extent that they exceed losses. ecial ro 18 Analysls of net assets between funds Unre5trirted funds Restricted funds Total lunds Tangible fixed assets Investments Net current assets 519.525 120.107 544,677 519,525 120,107 575.552 30.875 Net assets at 31 March 2024 1,184,309 30.875 1,21S,184 18a Analysls of net assets between funds - Previous year Unrestrirted funds Restricted funds Total funds Tangible flxed assets Investments Net current assets 527,332 113,383 521,461 527,332 113,383 560,872 39,411 Net assets at 31 March 2023 1,162,176 39,411 1,201,587 35
A eUKCro don Notes to the accounts for the year ended 31 March 2024 19 Guarantees and other flnanclal commltments 2024 2023 Operating lease commitments due: within one year between one and flve years 8,084 5.062 22,506 13.146 22.506 20 Reconclllatlon of net movement In funds to net cash flow from operatlng activitles 2024 2023 Net income for the reporting year {as per the statement of financial activities) 13,597 {30.408) Adjustments for: Depreciation charge L055llGain) on investments Loss/lGain) on fixed asset disposals Investment charges Interest income from investments Ilncreasel in debtors Increasel{decrease) in creditors 7,471 (7,9791 336 7,977 2,298 1.255 {39,104) 1197,3931 1438.4621 1,234 1214,971) 187.196 Net cash Iu5ed inllprovided by operating activities (660.2791 146,6741 21 Contlngent Ilablllty Within the Localities Commissioning programme. the charity has entered into contracts with 8 VCFS organisations. 50% of the funds under these contracts have been paid over and are accounted for as expenditure within the financial year. The remaining amounts, totalling £144.283. are to be paid svbjett to the performance of the organisations being judged satisfactory by the charity and Croydon Voluntary Action acting as their agent and the performance assessment did nottake place until afterthe year end. No liabilityforthis amountwas therefore recognised in these accounts. 22 Contingent asset In 2020 the charity was made aware of a potentially significant legacy. Probate was granted in 2023 but the amount of the distribution which might fall to the charity remained uncertain until after the year end. In May 2024 the charity was notified of an interim distribution of £165,000. As the executors had not made a decision prior to the year end, this amount has not been reco8nised in these accounts. 36