ageuK COMPANY NUMBER: 03926026 CHARITY NUMBER: 1082658 AGE UK KENSINGTON AND CHELSEA TRUSTEES, ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
age UK CONTENTS Reference and Adminislralive Infomialion Trustees, Report Independent Auditor's Report 11 Consolidated Slalemenl of Financial Aclivilie8 14 Balance Sheets 15 Consolidated Slalemenl of Cash Flows 16 Notes to the Financial Slalemenls 17
Age UK Kensington and Chelsea Trustees, Reportfor the year ended 31 March 2025 REFERENCE AND ADMINISTRATIVE INFORMATION Registered Charity Name Registered Charity Number Company Registration Number Principal and Registered Office Age UK Kensington and Chelsea 1082658 03926026 1 Thorpe Close, London, W10 5XL Solicitors Bates Wells, 10 Queen Street Place, London. EC4R 1 BE Bankers Barclays Bank PLC, Scrubbs Lane, Leicestershire, LE87 2BB CAF Bank, Kings Hill, West Malling, Kent ME19 4TA Scottish Widows Bank, PO Box 883, Leeds LS19TY Akoni Hub Limited, 77 Cornhill, London EC3V 3QQ Audltor Knox Cropper LLP, 65168 Leadenhall Street, London EC3A 2AD TRUSTEES AND DIRECTORS The trustees who served the Charity during the year and up to the date of signing of this report were as follows.. Robert Empson Henry Wrigley Caroline Dove Daniel Misra-Jones Kate Scally Megan Skinner Nicole Kim Pandora Wright Rebecca Harben Sarah Fahy Scott Franssen Sylvia Sinclair Chair of the Board of Trustees Treasurer {Appointed 24 September 2024) {Appointed 24 September 2024) (Resigned 1 February 2025) (Resigned 18 September 2024) {Resigned 25 March 2025) {Appointed 24 September 2024),. (Resigned 27 November 20251 During the year Henry Wrigley was Chair ofthe Finance Committee, Dan Misra-Jones was Chair of the Human Resources Committee and Pandora Wright was Chair of the Quality, Policy & Development Committee. Company Secretary Jessica Millwood MANAGEMENT TEAM The Senior Management Team who served the Charity during the year and up to the date of signing this report were as follows.. Chief Executive Director of servIs Head of Fundraising Jessica Millwood Corinna Hyman (Resigned 27 March 20251 Debra Bollan (Resigned 3 June 20251 William Rippon (Appointed 20 Octob8r 20251 Head of Community Engagement Anastasio CabeS10 Head of ImpacUDementia Services Michael Kings Head of Finance Fiona Maccarthy Head of Human Resour$ Clara Murphy
Age UK Kenslngton and Chelsea Trustees. Reportfor the year ended 31 March 2025 The Trustees, who are also directors of the Charity for the purposes of the Companies Act 2006, present their report with the financial statements of the Charity for the year ended 31 March 2025. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounling and Reporting by Charities,. The Objectlves of the Charity are: To promote the relief of elderly people in any manner which now or hereafter may be deemed by law to be charitable in and around the Royal Borough of Kensington & Chelsea. At Age UK Kensington and Chelsea (AUKC}, we know that older people have a wealth ofexperience and an important contribution to make to society. Our approach is to offer holistic support, centered around the person and developed according lo their needs and wishes. Many older people enjoy volunteering with us, while others gain the support they need from our huge range of services. Our activities continue to be based on the delivery of services reflecting the needs of our local community. The overall aim of the Charity is to improve the wellbeing of older people by offering a range of services which help at critical points when increasing age may bring challenges, such as deterioraling health. loss of a partner or friends. and decreasing income. We are supported by a fanlastic team of committed and dedicated volunteers who continue to help older people in the borough. or who provide additional support in the office. Our SeICe8 are comprehensive and provide help ranging from informal social and leisure activities to more practical assistance such as technical advice on claiming welfare benefits. Increasingly, the NHS and government- both nationally and locally - are recognising the detrimental impact of isolation and loneliness on people's health and wellbeing, as well as the value of the voluntary sector in providing cost-effective services and support to combat loneliness and keep older people at the heart of the community. Publlc Benefit The Trustees Confirm thal they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charity's objectives and activities, and in planning future activities. It is the judgment of the Trustees that activities in pursuit of the above objectives fully meet the publi¢ benefit test, which they have kept in mind in developing any new programmes for the Charity.
Age UK Kensington and Chelsea Trustees, Reportfor the year ended 31 March 2025 OVERVIEW OF SERVICES During 2024125, our seNices focused on reducing poverty, loneliness and isolation, and improving health, wellbeing, and Independen for older people from diverse backgrounds across th8 borough. My Care My Way Our Health and Social Prescribing Coordinators made 26,087 contacts across the year as part of teams integr8led with the NHS to improve health and social care outcomes, helping people to manage long-term conditions, achieve goals and access the right help at the right time. Activltles and Events Our varied program of social, cultural, educational and physical activities fostered social inclusion which helped 781 older people build new friendships and find new ways to support their mental and physical wellbeing both online and face to face. Digital Inclusion and Support By building digilal confidence with 1..1 support and digital cafes, we enabled 153 people lo manage everyday tasks such as online banking, accessing healthcare, and staying in touch with family and friends, helping to bridge the digital divide. Information and Advice We provided tailored advice, benefits checks and support lo 722 people to access addressing poverty and associated stress and supporting people to navigate complex systems. This support brought in an additional £548,537.36 in benefits for local older people. Dementia 1.1 People living with dementia received tailored, person-centred support that promoted cognitive engagement and wellbeing, while carers experienced reduced stress and felt better supported. This was delivered through 2,151 one-to-one sessions for 88 people. Dementla Advisor Our Dementia Advisor supported 168 people living wSth dementia and their carers. They also provided information about local organisalions to help clients navigate services, understand their options, and access community resources more easily. Memory Café Our Memory Café created a relaxed, friendly space for conversation, gentle activities and peer support. These events reduce isolation and offer informal respite and connection for both Ihose living with dementia and their carers. In total, we hosted 24 Memory Cafés with 286 attendanS from 56 people. Malntenance Cognitive Stlmulatlon Therapy We ran weekly, structured and evidence-based group sessions that provided meaningful stimulation and social engagement for 18 people living with dementia. Outcomes for attendees included maintaining cognitive function, supporting their mood and making new friendships and connections. Group Shopping We helped older people to stay independent, confident and conn6ct8d by supporting them to continue to do their own shopping. This reduced isolation, built confidence in everyday living and ensured access to essential goods. We provided transport and volunteer support for 32 people across 100 sessions. Simple DIY By addressing minor repairs and safety issues in the home, we reduced the risk of accidents and enabled older people to remain independent in their own homes. We provided 375 simple DIY sessions to 124 individuals.
Age UK Kensington and Chelsea Trustees. Report forthe year ended 31 March 2026 Health Talks We delivered 48 health talks focused in areas of health deprivation. These were attended by 330 older people who increased their understanding of how to look after their health and prevent illness. Escorting We ensured older people could safely attend vital health and social care appointments by arranging trained volunteers lo accompany them, supporting better health outcomes and reducing missed or delayed care. Overall, 593 escorting sessions were provided for 157 individuals. Befriending Our dedicated team of befriending volunteers provided regular social contact for 62 people across 1.375 befriending visits., This reduces loneliness. improves emotional wellbeing, and helps people feel more connected and valued. Exercise at Home and Walking Support We provided individually tailored exercise and walking support programmes for 161 older people. This improved strength, balance and mobility, and also helped reduce risk of falls, and enabled people to stay active and independent. Exercise for the Mind We ran 35 group sessions for 39 people targeling mental stimulation and emotional wellbeing to help support people's mental health, including Ihose living with dementia. Basic Footcare Our community based footcare service footcare helped 337 people stay mobile, active and engaged in their communities. Respite for Carers Regular breaks for carers reduced stress, supported their own wellbeing and helped sustain caring relationships at home. We supported 31 carers with 291 respite sessions. Carers Groups We ran 9 groups for 35 carers who gained peer support, shared coping strategies, and a¢¢ess lo information. These groups reduced isolation and slrenglhened informal care nebmorks in the borough. At Home Pald for Services Our team of carers provided 83 older people with practical support including cleaning, cooking and household tasks enabling older people to remain living independently at home for longer and with greater dignity. 4,462 sessions were provided over the year. Volunteers Age UK Kensington and Chelsea was SUPPOrted by 132 brilliant volunteers who helped us to extend our reach, deepening community conneclions and bringing additional warmth and creativity to our services. They contributed to befriending, escorting, shopping support. digital groups and the running of activities and outings.
Age UK Kensington and Chelsea Trustees. Reportforthe year ended 31 March 2025 FUNDRAISING AND MARKETING We are immensely grateful for the support from our statutory funders, trusts, corporate donors, individuals, and friends, group, all of whom have enabled LIS to continue our work across the borough. This includes the Kensington & Chelsea Foundation, Kensington & Chelsea Social Council, Westway Trust, the Calleva Foundation, Julia and Hans Rausing Foundation, City Bridge Foundation, NHS North West London ICB, Central & North West London NHS Foundation Trust and the Royal Borough of Kensington & Chelsea. We are also very thankful lo all the individuals who participated in this year's fundraising events. In the year 2024125, we did not engage any external organisations for telephone or fa-tO-faCe fundraising, nor dld any professional fundraisers or commercial participators conduct fundraising activities on our behalf. We are registered with the Fundraising Regulator and proudly uphold the principles of honesty. accountability, and transparency in our fundraising efforts. We ensure that our fundraising practices comply with the Fundraising Code of Practice and the standards set by the Fundraising Regulator. FINANCES Income Total income for the year amounted to £2.89m, a decrease of £0.07m from the previous year's of £2.96m and includes income from various sources. Income from donations and legacies amounted to £85k, compared with £181 k received in the previous year. Expenditure In 2024125, our total expenditure incurred was £2.84m compared to £3.04m in Ihe previous year. Spend on raising funds during the year amounted to £218k12024.' £248k). Total expenditur8 on charitable activities amounted to £2.62m, compared to £2.79m incurred in the 2023124 financial year. The financial statements contained within this report comply with our Memorandum and Articles of Association, the Charities Act 2011. the Companies Act 2006 and the Slatement of Recommended Practice IFRS 102 second edition).. Accounting and Reporting by Charilies. The Charity invested in a subsidiary undertaking and holds 1000A of the share capital of Age United Limited. Reserves Policy The Board of Trustees has considered the Charity's requirements for reserves, considering potential risks to the organisalion. and the current political and economic climate. Trustees have agreed that the purpose of any reserve funding is to provide flexibility and certainty for clients and staff and ensure that we can continue to meet our charitable objectives in the short and medium tem. Restricled funds are funds which are to be used in accordance wlth specific restrictions imposed by donors which have been raised by the Charity for particular purposes. The Charity's Free Reserves target is the equivalent of 4 months, expenditure to allow for strategic readjustment, and to support the sustainability of the organisation should major challenges arise. Al the year-end free reserves amounted to £570k or the equivalent of just under 2.5 months of expenditure. The Charity is aiming to build Free Reserves so that they are closer to the target. Structure, Governance and Management Age UK Kensington and Chelsea is a charily and company limited by guarantee, incorporated on 15 February 2000 and registered as a charity on 28 September 2000. The company was established under a Memorandum of Association, which established the objectives and powers of the charitable company under its Articles of Association. The latest revision of the Memorandum and Articles of Association was approved on 30 November 2020. In the event ofthe company being wound up, members are required to contribute an
Age UK Kensington and Chelsea Trustees, Reportfor the year ended 31 March 2025 amount not exceeding £1. Age UK Kensington and Chelsea is a separate, local, independent Charity, and. as such, il has Its own Board of Trustees, responsible for the strategic direclion and overall operations of the Charity. Directors of the Company are also Charity Trustees for the purposes of Charity Law, and are known as members of the Board of Trustees. Trustees are kept up to date on issues through regular reports from the Chief Executive, external advisers, and briefings from Age UK and other third sector bodies. The Charity is part of the family of Age UKS throughout the UK and is affiliated lo Age UK as a Neiwork Partner with a legal agreement in place to support the relationship. The agreement sets out a number of responsibilities on both partners including the use of the brand 'Age UK, and allows for Age UK to pas8 funding to the network for particular projects. Age UK provides an external assessment framework (Charily Quality Standards) to ensure high standards of Quality and Governance across all local partners. The Board of Trustees sets the strategic direction of the Charity and is responsible for the Charity's overall performance through quarterly meetings, receiving reports on key issues and reviewing the risk register. More detailed scrutiny and oversight of the Charity's activities is delegated to three committees.. Finance Quality, Performance, Development Human Resources Day-to-day Seice delivery is delegated to the Chief Executive and the Senior Management Team (SMT) who are the key management. The SMT is made up of the Chief Executive, Director of Services, Head of Community Engagement, Head of Impact and Dementia Services. Head of Finance, Head of Fundraising and Head of Human Resources. The SMT is responsible for ensuring that the Charity delivers the agreed services and that key perft)rMan indicalors are met. Department Heads are responsible for day-to-day operational management, supervision and development of both staff and volunteers, while ensuring that services are delivered in line wilh the operational policies, contract specifications or grant conditions. The pay of the Executive and Senior Management Team and staff are sel by the Board. The Board reviews pay annually. All Trustees give their lime freely, and no Trustee received remuneration in the current or prior year. Details of related party transactions are disclosed in note 9 to the aount5.
Age UK Kensington and Chelsea Trustees, Report for the year ended 31 March 2026 Risk Management The Charity has a formal risk management process, through which the Chief Executive and Senior Management Team identify the major risks to which the organisalion may be exposed, and has ranked these by likelihood and impact. culminating in a risk control document which is updated on a regular basis. All significant risks, logelher with current mitigation actions, are reviewed regularly throughout the year by the Trustees. The Trustees are satisfied that systems have been developed and are in place to mitigate identified risks lo an acceptable level. The principal risks and uncertainties identified by the Charity are as follows.. Risk identified Reputational risk arising from organis8tional failures Action taken to mitigate the risk The Board regularly reviews the organisational Risk Register, including key risks across Governance, Mission and Slrategy, Financial, Environmental and External, Compliance, Operational, and Health and Safety. Mitigatlng actions to reduce risk are monitored for effectiveness with a Iraffic light system lo highlight and address key areas. Audits are carried out by management and the results reported to the Board. Resilience of IT systems, including resilience against cyber crime Our IT provider has implemented a secure, cloud-based IT provision and continually upgrades all our IT security systems. Data back-up system in operation. IT systems support staff to work effectively remolely uired. Focus on diversifying our income base to manage risk. Finan Committee monitors organisational resilience and financial planning. Significant loss of income arising from changing funder priorities Risk to Business Conlinuity from major adverse events such as new pandemic or environmental disaster. Cloud-based ITsupports home working. Organisational risk assessments regularly reviewed. Statutory and community partnerships in pla. Threat of major adverse events monitored. Business Continuity and Disaster Recovery Plan tested andu dated Succession planning updated for Board and Executive. (Qualified interim staff have been utilised to provide ex ertise where needed. Loss of key members of staff
Age UK Kenslngton and Chelsea Trustees. Report forthe year ended 31 March 2026 STATEMENT OF RESPONSIBILITIES OF THE TRUSTEES The Trustees (who are a150 directors for the purposes of company law} are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year, which give a true and fair view of the stale of affairs of the charitable company and of the incoming resources and application of resoLJrces, including the Income and Expenditure, of the charitable company for Ihe period. In preparing these financial statements, the Trustees are required to-. Select suitable accounting policies and apply them consistently., Observe the methods and principles in the Charities SORP., Make judgements and estimates that are reasonable and prudent., state whelher 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 the going conrn basis, unless it is inappropriate to presume Ihat the charitable company will 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 enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company, and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees are responsible for the maintenance and integrity of the charitable and financial infomalion included on the Charity's website. Legis121ion in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. STATEMENT OF DISCLOSURE OF INFORMATION TO AUDITORS The Trustees of the Charity confirm that.. As far as they are aware, there is no relevant audit information {inform8tion needed by the Charity's auditors in cor)ne¢tion with preparing their report) of which the Charity's auditors are unaware,. and They have laken all the steps that they ought lo have taken as Trustees in order lo make themselves aware of any relevant audit information and to establish that the Charity's auditors are aware of that information. AUDITOR A resolution to re-appoint Knox Cropper LLP as the Charity's auditors will be proposed at the Annual General Meeting. Appmv on mbgr 2025 and signed on behalf of the Tmslees." Robert Ghair 10
Independent Auditor's Report to the members of Age UK Kenslngton and Chelsea Opinlon We have audited the fi'nancial statements of Age UK Kensington and Chelsea (the 'charitable company,) and it5 subsidiary (the 'group'l for the year ended 31 March 2025, which comprise the consolidated statement of financial activities, the consolidated and parent charitable company balance sheets, consolidaled statement of cash flows, and notes to the financial statements, including a summary of signifr'cant 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 th8 UK and R8public of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements= Give a true and fair view of the state of the group's and of the parent charitable companvs affairs as at 31 March 2025 and ofthe group's income and expenditure for the yearthen 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. Basls of Opinion We conducted our audit in accordan wilh International Standards on Auditing (UK) {ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Audilor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial slalements in the UK, including the FRC'S Elhical 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. Con¢luslons Relating to Going Concern In audiling the financial statements, we have concluded that the Trustees, use of the going concern basis of accounting in tho preparation of the financial statements is appropriate. Based on the work we have perfomied, we have not identified any material uncertainties relating lo events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to conlinue as a going concern for a period of al 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 Trustees, Annual Report, other than the financial statements and our auditors, report Ihereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information, and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to detemiine whether there is a material misstatement in the financial statements themselves. If, based on the work we have performed. we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing lo report in this regard. 11
Independent Auditor's Report to the members of Age UK Kensington and Chelsea 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, Annual Report, which indudes the directors, report prepared for the purposes of company law, for the fin8ncial year for which the financial statements are prepared is consistent with the financial statements., and the directors, report included within the trustees, report has been prepared in accordance with applicable legal requiremenls. Matters on Which We Are Required to Report by Exception In the light of the knowledge and understanding of the group and the parent charitable company and its environment obtained in the course of the audit, we have not identified materi81 misstalemenls in the directors. report included within the Trustees, report. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if. in our opinion.. Adequate accounting records have not been kepl by the parent charitable company, or returns adequate for our audit have not been reiVed from branches not visited by us. or The parent charitable company financial slalements 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, Annual Report and from the requirement lo prepare a strategic report. Responsibilities of Trustees As explained more fully in the Trustees, Responsibilities Stalement. the Ttustees (who are also the directors of the parent charitable company for the purposes of company lawl are responsible for Ihe 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 statemenls 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 parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the group or parent charitable company or to cease operations, or have no realistic alternative bul lo do so. Auditor's Responslbllltle5 for the Audit of the Financlal Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due lo fraud or error, and to issue an auditor's report that includes QLJr opinion, Reasonable assurance is a high level of assurance bul is not a guarantee that an audit conducted in accordance with ISAS IUKI 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 regulation8. We design procedures in line wilh our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is delailed below.. The parent charitable company is required to comply with both company law and Charity law and, based on our knowledge of its activities, we identified that the legal requirement to accurately account for restricted funds was of key significance. 12
Independent Auditor's Report to the members of Age UK Kenslngton and Chelsea We gained an understanding of how the group and parent charitable company complied with its legal and regulatory framework, including the requirement to properly account for restricted funds, through discussions with management and a review of the documented policies, procedures and controls. The audit team, which is experienced in the audit of charities, considered the group and parent charitable company's susceptibility to material misstatement and how fraud may occur. Our considerations included the Tisk of management override. Our approach was to check that all reslricted income was properly idenlified and separately accounted for and to ensure that only valid and appropriate expenditure was charged to restricted funds. Thls included reviewing journal adjustments and unusual transactions. A further description of our responsibilities for the audit of the financial statements is located on the Finanoial Reporting Council's website at.. www.frc.or .uklauditorsres onsibilities. This description forms part of our auditor's report. Use of our report This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken, so that we mlght state to the charitable company's members Ihose matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report or for the opinions we have formed. 19112125 Simon Goodridge Senior Statutory Auditor for and on behalf of Knox Cropper LLP Statutory Auditor 65 Leadenhall Street London EC3A 2AD 13
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Age UK Kensington and Chelsea BALANCE SHEETS AS AT 31 MARCH 2025 The Group 2025 The Charity 2025 2024 2024 Notg FIXED ASSETS: Intangible Assets Tangible Assets 10b 10a 14,346 14,346 22,100 CURRENT ASSETS: Debtors Short-lerm Deposits Cash al Bank and in Hand 13 223.195 829.037 235,205 493,555 683,681 77,236 223,195 829,037 235,205 493,555 683.681 77,236 1.287.437 1,254,472 1,287,437 1,254.472 LIABILITIES: Creditors.. amounts falling due within one year NET CURRENT ASSETS I {LIABILITIES) 14 156,280 171 973 156,280 171973 1,131.157 1.082.499 1.131157 1.082 499 TOTAL ASSETS LESS CURRENT UABILITIES 1 153257 1.100,739 1,153257 1 100739 CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR TOTAL NET ASSETS I ILIABILITIESI 16117 1153 257 1.100.739 1153 257 1100 739 FUNDS: Restricted Income Funds Unrestricted Income Funds.. Designated Funds General Funds 18118a119 241,635 214,074 241.635 214,074 320,000 591,622 320,000 566,665 320,000 591,622 320,000 566,665 Total Unrestricted Funds 911.622 886,665 911.622 886 665 TOTAL FUNDS 1.153.257 1.100.739 1,153,257 1100 739 The not The fi ges 17 1 30 form part of the financial slalements. s were approved by the Board of Tiuslees on 81h December 2025 and signed on their beha by cia Ro Chair Company no.. 03926026 Date.. 15
Age UK Kensington and Chelsea CONSOLIDATED STATEMENT OF CASH FLOWS YEAR ENDED 31 MARCH 2025 Note 2025 2024 CASH FLOWS FROM OPERATING ACTIVITIES Nel Income/lExpendilurel for the Reporting Period {As per the Statement of Financial Activf(iesl Depreciation Charges Assets Written off During the Year Dividends, Interest and Rent from Investments IlncreasellDecrea$e in Debtors IncreasellDecreasel in Creditors NET CASH PROVIDED BYIIUSED INI OPERATING ACTIVITIES CASH FLOWS FROM INVESTING ACTIVITIES.. Dividends. Interest and Rents from Investments Purchase of Fixed Assets Transfer lo Short Term Deposits NET CASH PROVIDED BYIIUSED INI INVESTING ACTIVITIES 25,546 22.807 16,975 123.135) 270,360 {8,0521 104.154 87,129 309 596 141 521 23.135 129,4071 145 356 8,052 17061 431,368 151628 424 022 Change in Cash and Cash Equlvalents in the Year 157.968 {282,5011 Cash and Cash Equivalents al the Beginning of the Year 77,237 359.736 Cash and Cash Equlvalents at the End of the Year 235 205 77,237 Analysis of Cash and Cash Equivalents. Short-term Deposit5 and of Net Debt Other Non- Cash Changes At31 March 2026 April 2024 Cash Flows Cash at Bank and in Hand 77,237 157,968 23S,205 Short-lerm Deposits 683,681 780 918 145,356 303 324 829,037 1 064 242 16
Age UK Kensington and Chelsea Notes to the Financial Statements for the Year ended 31 March 2025 1. PRINCIPAL ACCOUNTING POLICIES a) Statutory Informatlon Age UK is a charitable company limited by guarantee and is incorporated in England. The registered office address is.. 1 Thorpe Close, London W10 5XL b) Basis of Preparation The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities prep8ring their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102} - (Charities SORP FRS 102), The Financial Reporting Standard applicable in Ihe UK and Republic of Ireland {FRS 102) abs the Companies Act 2006. These financial statements consolidate the results of the Charity and its wholly-owned subsidiary Age United Limited on a line-by-line basis. Transactions and balances belween the Charity and its subsidiary have been eliminated from the consolidated financial statements. Balances between Ihe two entities are disclosed in the notes of Ihe Charity's balance sheet. A separate Statement of Financial Activities, or Income and Expendilure account, is not presented for the Charity itself in accordance with section 408 of the Companies Act 2006. Ass6ts and liabilities are init1811y recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note. The Trustees do not consider that there are any sources of estimated uncertainty at the reporting date that have a significant risk of causing a material adjuslmenl to the carrying amounts of assets and liabilities within the next reporting period. cl Public Benefit Entity The charity meets the definition of a public entity undor FRS 102. d) Golng Concern The trustees believe that the organisation will continue its operations for the foreseeable future. The organisation is financially stable enough to meet its obligations and continue its business. The Trustees will continue to monitor the situation and to ensure that our staff are provided with all necessary work apparatus and a conducive and functionally designed work environment to enable them to work effectively. el Income Income is recognised when the Charity has elllillement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received, and thal the amount can be measured reliably. Income from government and other grants, whether 'capital' grants or'revenue, gr8nts, is recognised when the Charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received, and the amount can be measured reliably and is not deferred. For legacies, entitlement is taken as the earlier of the date on which eilher.. the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executorls) to the Charily thal a distribution will 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 reliably, 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 granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material. 17
Age UK Kensington and Chelsea Notes to the Flnancial Statements for the Year ended 31 March 2025 1. PRINCIPAL ACCOUNTING POLICIES (continued) f} Interest Receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity,. this is normally upon notifi'cation of the interest paid or payable by the bank. gl Fund Accounting Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund. Unreslricted funds are donations and other incoming resources received or generated for the charitable puiposes. Designated funds are unreslricted funds earmarked by the trustees for particular purposes. h) Expenditure and Irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to make a payment to a Ihird party, it is probable that seltlement will be required, and the amount of the obligatson can be measured reliably. Expenditure is classified under the following activity headings.. Costs of raising funds relate lo the costs incurred by the Charity, as well as the cost of any activities with a fundraising purpose Expenditure on charitable activities includes the costs of delivering services, educational activities undertaken lo further the purposes of Ihe Charily and their associated support costs Other expenditure represents those items not falling into any other heading Irrecoverable VAT is charged as a co81 against the activity for which the expenditure was incurred. i) Allocation of Support Costs ReSoUrS expended are allocated to the particular activity where the cost relates directly lo that activity. However, the cosl of overall direction and 8dminislration of each activity, oomprising the salary and overhead costs of the central function, is apportioned, based on staff time, of the amount attributable to each activity. Where information about the aims, objectives and projects of the Charity is provided to potential beneficiaries, the costs associated with this publicity are allocated to charitable expenditure. Support and governance costs are re-allocated to each of the activities on the following basis, which is an estimate, based on staff time, of the amount attributable to each activity Raising Funds 30% Charitable Activities 70°/0 Governance costs are the costs associated with the governance arrangements of the Charity. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the Charity's aclivilies. j) Operating Leases Rental charges are charged on a straight-line basis over the term of the lease. k) Tangible Fixed Assets Items of equipment are Gapilalised where the purchase pri exceeds £100. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use. 18
Age UK Kensington and Chelsea Notes to the Flnancial Statements for the Year ended 31 March 2025 1. PRINCIPAL ACCOUNTING POLICIES (continued) Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful lrfe. The depreciation rates in use are as follows.. Furniture and Fittings Computers and Equipment Leasehold Improvement 4 years 3 years 3 years l) Intanglble Flxed Assets The Customer Relationship Management system, Salesforce, was developed internally and as such. costs relating to ils development have been capilalised. This inlangible assel will be amortised over a useful lrfe of 3 years. m) Investments in Subsidlarles Investments in subsidiaries are at cost. n} Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ol 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 knelve months or less from the date of acquisition or opening of the deposit or similar account. p} Credltors and Provisions 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 reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any Irade discounts due. q) Flnanclal Instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised al transaction value and subsequently measured at their settlement value. 2. DONATIONS AND LEGACIES Unrestrlcted Restrl¢ted 2025 Total Unrestrlcted Restricted 2024 Total Legacies Donations 25,110 59,422 84,532 26,110 59,422 84,532 (2,109) 74.771 72.662 108,000 105,891 74,771 180,662 108,000 19
Age UK Kensington and Chelsea Notes to the Flnanclal Statements for the Year ended 31 March 2025 3. INCOME FROM CHARITABLE ACTIVITIES Unrestrlcted Restricted 2025 Unrestricted Restrlcted Total £ 2024 Total £ Dementia Support 74,138 74,138 73,631 73,631 Infomalion and Advice 166,776 166,776 114.321 114,321 HSCA ICLCHI 1,379,520 1.379,520 1,346,219 1.346,219 Core Costs 440,642 5,000 445,642 483,391 483,391 Dementia Carers Project 42,267 42,267 10,502 10.502 My Memories 46,529 46.529 55,622 55,622 Respite Care 30,593 30.593 35,041 35,041 Service User Fees IAt Homel 234,365 234.365 245,413 245,413 Di9itALL Project 61,085 61.085 77,905 77,905 Community Services 246,767 246,767 216,493 216,493 Activities and Events 56,497 56,497 112,847 112,847 Sub-total for Charitable Activity 440,642 2.343.537 2.784,179 483,391 2.287,994 2.771.385 Spocial Projects TOTAL INCOME FROM CHARITABLE ACTIVITIES 440,642 2.343,537 2,784,179 483,391 2,287,994 2,771,385 4a. INCOME FROM TRADING COMPANY 2025 Total 2024 Total Age United Limited (2,321) 4b. INCOME FROM INVESTMENTS 2025 Total 2024 Total Bank Interest 23.135 8,054 20
Age UK Kensington and Chelsea Notes to the Financial Statements for the Year ended 31 March 2026 5. ANALYSIS OF EXPENDITURE (CURRENT YEAR) Ralslng Charitable funds actlvltles Governance Support costs 2025 2024 costg Totsl Total Staff Costs (Note 71 Other Staff Costs 82.681 2,226,164 35,397 192.921 2,501,766 40,648 76.045 2,458,23S 82,892 Consultants and Interim staff Costs 32,648 35,336 67.984 171.135 My Memories and Dementia Support Information and Advice 8,678 44.884 30.747 45,204 25,758 Other Direct Costs 2,372 25,209 558 4.043 36.437 31,096 6,415 61,646 31,654 Premises Offi'ee Equipment and IT Communication and Slalionery Professional Fees 17.199 19,182 34,857 49,500 25,546 62.066 85,482 25.546 169,2661 450,384 2,839,328 51,509 77.373 22,807 16.800 Depreciation Other Costs I Projects {69.2661 82,681 2,289,463 16,800 3.039.272 Support Costs Governance Costs 135,115 315,269 1450.384) 16,800 116,8001 Total Expenditure 2025 217.796 2.621.532 2,839,328 3,039,272 Total Expendf(ure 2024 247.952 2,791,320 3.039.272 21
Age UK Kensington and Chelsea Notes to the Financial Statements for the Year ended 31 March 2025 6. NET INCOME I (EXPENDITURE) FOR THE YEAR This is stated after charging.. 2025 2024 Depreciation Amortisalion of Intangible Fixed Assets Operating Lease Rentals.. Propety Auditor's Remuneration {Excluding VATI.. Audit 11,200 14,346 8,461 14,346 8,525 16,225 16,800 20.050 7. ANALYSIS OF STAFF COSTS, TRUSTEE REMUNERATION AND EXPENSES, AND THE COST OF KEY MANAGEMENT PERSONNEL Staff costs were as follows.. 2025 2024 Salaries and Wages Social Security Costs Employer's Contribution to Defined Contribution Pension Schemes 2,229,848 202,663 69,255 2 501766 2,198,150 189,657 70,426 2 458 233 The number of employee benefits exceed8d £60,000 was.. 2025 2024 £60,001- £70,000 £70,001- £80,000 £80,001- £90,000 £90,001- £100,00 The total employee benefits {including pension contributions and employer's national insurance) of the key management personnel were £404,652 {2024: £378.6991. Key management personnel are Chief Executive, Director of Services, Head of Fundraising, Head of Community Engagement, Head of Impact, Evaluation and Data, Head of Finance, Head of Human Resources. The Charity Trustees were neither paid nor received any other benefits from employment with the Charity in the year {2024= £Nill. No Charity Trustee received payment for professional or other SeiceS supplied to 22
Age UK Kenslngton and Chelsea Notes to the Flnanclal Ststements for the Year ended 31 March 2025 the Charity (2024.. £Nil). Trustees, expenses represent the payment or reimbursement of travel and subsistence costs. No Charity Trustee incurred travel and subsistence costs in the year. (2024.. £Nil) 8. STAFF NUMBERS The average number ofemployees (head count based on number of staff employed) during the year was 84 (2024: 89). Staff are split across the activitie8 of the Charity as follows.. 2025 No. 2024 No. Raising Funds Community Engagement Heallhwise Dementia At Home 23.0 20.8 Information and Advice 40.0 45.0 PCNIHSCA Activities and Events Digital Inclusion Governancelcore 84.2 88.7 9. RELATED PARTY TRANSACTIONS There was a related party transaction of £1,000 received from White Maple Consulting Limited in the financial year. Mr Robert Empson. Chair of the Board of Trustees, serves as a Director of Vvhite Maple Consulting Limited (2024.. £350). There were no other related party transactions. 23
Age UK Kensington and Chelsea Notes to the Financial Statements for the Year ended 31 March 2025 10a. TANGIBLE FIXED ASSETS The Charity Fixtures and Fittings Computer equipment Total Cost At the start of the year Additions in year 15,023 3,639 71,778 25,768 86.801 29,407 At the end of the year Depreciation At the start of the year Charge for the year At Ihe end of the year Net book value At the end of the year 18.662 116 208 14,640 482 68.268 10,718 82,908 11,200 15,122 94,108 At the start of the year 383 All of the above assets are held by the Charity and used for charitable purposes. A review of the fixed assets register took place and any assets that were no longer in use have been written off. 10b. INTANGIBLE ASSETS Intangible Assets The Charity Cost Intangible Asset Total At the start of Ihe year Additions in Ihe year At the end of the year Amortisation At the start of the year Amortisation for the ye8r At the end of the year 43,038 43,038 43,038 43,038 28,692 28,692 43,038 Net Book Value At the end of the year At the start of the year 14.346 The Intangible Asset is the Salesforce platform, which was developed internally, and, as such. costs relating to its development have been capilalised and amortised over a period of three years. 24
Age UK Kensington and Chelsea Notes to the FSnancial Statements for the Year ended 31 March 2025 11. SUBSIDIARY UNDERTAKING The Charity owns the whole of the issued ordinary share capital of Age United Limited,. a company registered in England. The company number is 12351857 and Charity number 1082658. The registered office address is 1 Thorpe Close, London, W10 5XL. The subsidiary is used for non-primary purpose trading activities. All activities have been Consolidated on a line-by-line basis in the statement of financial activities. Available profits are distributed under Gift Aid to the parent Charity. A Trustee and the Chief Executive are directors of the subsidiary. Age United Limited commenced operation in April 2020. A summary ofthe results of the subsidiary is shown below.. 2025 2024 Turnover Cost of sales Gross profitl(lossl Administrative and other expenses (2.321) 13,166) 15,487) 71,318 71.318 Profltl{loss) on ordinary activities before interest and taxation Interest receivable and similar income Interest payable 71,318 5,487 Proflulloss) on ordlnary actFvities before taxatlon 71,318 (5,487) Taxation on profit on ordinary activities ProflV{lossl for the flnancial year Retalned eamlngs Total retained earnings brought forward ProfiV(loss) for the financial year Total retained earnings carried forward The aggregate of the assets, liabilities and reserves was.. Assets Liabilities Reserves {5,487} 176,855) 71,318 (71,3681 (5,487) (76,855) 8,777 {85,632) (76,855) 6.537 {6,537) The company did not trade in this financial period. 25
Age UK Kensington and Chelsea Notes to the Financial Statements for the Year ended 31 March 2025 12. PARENT CHARITY The parent Charity's gross income and the results lor the year are disclosed as follows: 2025 2024 Gross Income 2,891,846 2,960,101 Result for the Year (18.8001 (76,005) 13. DEBTORS The Group 2025 The Charlty 2024 2025 2024 Trade Deblors other Debtors Prepayments 183,312 24.588 15,295 466,745 11,771 15,039 183,312 24,588 15,295 466,745 11,771 15,039 223 196 493,555 223 195 493,555 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR The Group 2025 The Charity 2024 2025 2024 Trade Creditors Taxation and Social Security other Creditors Accruals Deferred Income (Note 151 19,304 45,260 13,015 33,524 45,177 49.529 48.437 17,154 34,333 22,40g 19,304 45,260 13,015 33,524 45,177 49,529 48,437 17,154 34,333 22,409 156.280 171 973 156,280 171973 15. DEFERRED INCOME The Group 2025 The Charity 2025 2024 2024 Balance at the Beginning of the Year Amount Deferred in the Year 22,409 22,768 6,240 16,169 22,409 22,768 6,240 16,169 Balance at the End ofthe Year 22.409 22,409 26
Age UK Kenslngton and Chelsea Notes to the Flnanclal Statements for the Year ended 31 March 2025 16. ANALYSIS OF GROUP NET ASSETS BETWEEN FUNDS- CURRENT YEAR General Unrestricted Designated Funds Restricted Funds Total Funds Tangible Fixed Assets Net Current Assets 22,100 569,522 22,100 1,131,157 320,000 241,635 Net Assets at 31 March 2025 591,622 320 000 1153257 17. ANALYSIS OF GROUP NET ASSETS BETWEEN FUNDS- PRIOR YEAR General Unreslricted Deslgnated Funds Restricted Funds Total Funds Tangible Fixed Assets Net Current Asets 18,240 548,025 18,240 1,082,499 320,000 214,074 Net Assets at 31 March 2024 666 666 320 000 214 074 1100 739 27
Age UK Kensington and Chelsea Notes to the Financial Statements for the Year ended 31 March 2025 18a. MOVEMENTS IN FUNDS- CURRENT YEAR At 1 April Income and Expenditure 2024 Galns and Losses Transfers At 31 March 2025 Dementia Support Information and Advice HSCA {CLCHI RBKC Tender Support Healthwise Special Reserve Fund- Income Third Paty Payment Digital Inclusion Community Engagement At Home Setvices Activities and Events Carers Support Project Total Restricted Funds 828 1,024 35,215 193.527 166.776 1,379.520 5.000 193.262 160,877 1,379,755 5,000 1,093 6,923 34,980 16,978 15,900 16,978 15,900 5,618 17,908 9,091 61,085 237,677 234,365 56,497 9.126 58,576 225,924 232,412 51,045 5,583 20,417 11.753 1,953 18,055 108,000 241,635 12,603 108,000 214,074 2,343,538 2 315977 Unrestrl¢ted Funds: Designated Funds.. Operational Activities Funded Investment in strategy Financial Year 24-25 Investment in Strategy- Future years Total Designated Funds General Funds Total Unrestrlcted Funds Total Funds 110.000 110,000 150.000 (150,0001 60.000 150,000 210.000 320.000 566,665 866.665 1.100,739 320,000 591,622 911622 1,153,257 548,309 548,309 2 891 847 523,352 523 352 2,839,329 The narrative to explain the purpose of each fund is given al the foot of the rFOte below. 28
Age UK Kensington and Chelsea Notes to the Flnanclal Statements for the Year ended 31 March 2025 18b. MOVEMENTS IN FUNDS- PRIOR YEAR At 1 April Income and Expenditure 2023 Gains and Losses Transfers At 31 March 2024 Dementia Support Information and Advi HSCA ICLCH) Healthwise Speclal Reserve Fund- Income Third Party Payment Digital Inclusion Community Engagement At Home Services Activities and Events Carers Support Projecl Total Restrlctsd Funds 174,796 114,321 1,346,219 173,968 113,297 1,332,990 828 1,024 35,215 16,978 15,900 21,986 16,978 15,900 15,555 13,362 (3141 77,905 216,807 245,413 112,847 108,000 2 395 994 9.623 73.359 229,176 270,017 113,712 5,618 17,908 12,369 24,604 13,468 12.603 108,000 241074 121853 2 316 142 12,369 Unrestrlcted Funds: Designated Funds.. Operational Activities Funded Investment in strategy Financial Year 24-25 Investment in Strategy- Future Years Total Designated Funds General Fund$ Total Unrestrlcted Funds Total Funds 110,000 110.000 150,000 150,000 60,000 60,000 320.000 740,378 1.060.378 1 182 231 320,000 566,665 886,665 1 100 739 561,786 561,786 2 957 780 723,130 723,130 3 039 272 12.369 12.369 29
Age UK Kensington and Chelsea Notes to the Financial Statements for the Year ended 31 March 2025 19. PURPOSES OF FUNDS Purposes of Restricted Funds HSCA.. To support the delivery of My Care My Way funded by the NHS. Healthwise.. Grant funding from Royal Borough of Kensington and Chelsea to provide exercise classes and community advice sessions around common degenerative conditions. Specialist Reserves Fund.. To fully scope out and explore a sustainable Joint Operating Model for Paid-for services across North-west London. Third Paty Payment.. Winter fuel payment funded by Kensington and Chelsea Foundation lo help residents in need with their fuel bills. Digital Inclusion.. To provide targeted outreach support to vulnerable older people, including those living alone who are known to be more likely to experience social isolation, which has a damaging effect on their mental wellbeing. Events and Activities.. To provide specific events and activities. Al Home.. To provide practical support and respite services. Carers Support Project.. To support carers who support older vulnerable ople. Purposes of Designated Funds The Designated Funds were approved by the Board on 3 July 2023. Having considered the current financial year's outlook and the focus on implemenling the new strategy over three years, the Designated Funds are.. £OOOs 110 210 Operational Activities Funded Investment in Strategy - Future Years Total Designated Funds 320 20. FINANCIAL COMMITMENTS Property 2025 Property 2024 Less than One Year One lo Five Years Over Five Years 6,875 1,650 7.700 8.525 21. LEGAL STATUS OF THE CHARITY The parent charitable company is limited by guarantee and has no share capital. The liabilily of each member in the event of winding up is limiled to £1. 22. POST BALANCE SHEET EVENT There are no post Balance Sheet events. 30