AGE UK RICHMOND UPON THAMES COMPANY LIMITED BY GUARANTEE REPORT & FINANCIAL STATEMENTS 31 MARCH 2024 Company Registration Number- 4116911 Charity Registration Number- 1084211
AGE UK RICHMOND UPON THAMES REPORT & FINANCIAL STATEMENTS Year Ended 31 Alarch 2024 CONTENTS PAGE Chairfs staternent Trustees, annual report 3- 11 Indendent auditors, report to the members 12- 15 Consolidated Statement of financial actiwties lincorwrating the income and expenditure accounti Consolidated balance Sheet 17 Consolidated statement of cash flows 18 Notes to the financial statements 19-39
AGE UK RICHMOND UPON THAMES CHAIR'S STATEMENT Year Ended 31 March 2024 Age UK Richmond's mission is to provide support for older people in Richmond upon Thames to help them live happier, healthier and more independent lives. Our service5 make a real difference to older people, family members and carers across the borough. l am pleased to say we have had another successful year, working in close partnership with many others. We are grateful to the London Borough of Richmond for their continued support of our work. This includes the Age UK Richmond led Community Independent Living Service ICILS), handyper50n service, 'Connect to Tech, digital inclusion project, much needed welfare benefits & financial advice, Dementia Friendly Richmond and OLJr busy Nightingale home from hospital service. We also thank our NHS partners for their continued support to deliver our Nightingale seNice at an enhanced level, enabling more older people to be supported safely at home after discharge. We also continue to be very grateful for the continued support of our local charttable trust funders who are so important to our work - Hampton Fund, Richmond Parish Lands Charity and the Barnes Fund. Their continued support and flexibility has allowed us to continue to deliver many of our key services across the borough, in particular Information & Advice. We also thank Age UK National, Age UK London, Emanuel Hospital Foundation and Gibson Charitable Trust for their support. Partnership is important to us. We would like to thank all those we work in partnership with, including our 19 partner organisations who deliver services with us through the Community Independent Living Service. We made good progress in many areas during the year. This included increasing the financial gains achieved for older people through our welfare benefits service; increasing our recognition of unpaid carer5 and further increasing the number of organisètions forming part of our Dementia Friendly Richmond partnership. We also achieved the externally audited Charity Quality Standard ICQSI, ensuring we are meeting a range of assessed standards and indicators of good governance and well managed charities. Our new Mental Health Peer Support service, working in partnership with Richmond Borough Mind and other local charities had successful first year. Looking forward, we aim to continue to look for ways to improve and expand our support for all older people, particularly the most vulnerable. We are keen in particular to try and ensure older adults with dementia and their carers are able to get the support they need. One of the highlights of the year was to have been chosen as one of the Mayorfs charities. Several fundraising events took place including quizzes, wine t35ting and a fish and chip cruise on the Thames. These also helped to raise our profile and awareness of the charity's work. We thank the Mayor and her team for their support. Thi5 15 my final year as Chair Df Age UK Richmond and I have been grateful for the support I have received from my excellent Board of Trustees. This year we said goodbye to two of our Trustees, Anne McKee and Tina Ruygrok who both made significant contributions over the135t 5 year5.
AGE UK RICHMOND UPON THAMES CHAIR'S STATEMENT Year Ended 31 Ilarch 2024 Finally, I mustthank ourteam of dedicated staff who are committed to providin8 high quality services to older people. They are supported by a group of over 100 enthusiastic and skilled volunteers. Without the contribution of our staff and volunteers, we could not deliver the level and quality of Service we do. I know that I will be passing on a healthy and forward looking organisation to my successor. ate James Chalr of Trustees
AGE UK RICHMOND UPON THAMES TRUSTEES'ANNUAL REPORT Year Ended 31 March 2024 The Trustees, who are also directors for the purposes of compary law, present their report and the financial statements of the Charity for the year ended 31 March 2024. STRUCTURE, GOVERNANCE AND AIANAGEMENT Governing Document The organisation is a charitable cornpany limited by guarantee, incorporated on 29 November 2000 and registered as a charity on 20 Decernber 2000. The company's Memorandum of Association which established the object5 and powers of the charitable company and its Articles of Association under which it is governed was updated in 2017 and again in 2020. This new constitution is based on the Age UK national charily IAge UK) constitution which 15 Itself approved by the Charity Commission. In the event of the compary being wound up members, now restricted to trustees, are requTred to contribute an amount of £1 each. Recruitment and Appointment of Trustees Under the Company s Articles the directors of the company are also known as Trustees. In accordance with the Metnorandum and Articles of Association the member5 of the Board of Trustees are elected to serve for period of three years after which they Must be re-elected at the next Annual General Meeting. No other persons or bodies external to the Charity are entitled to appoint persons to the Board of Trustees. The Trustees seek to ensure that the needs of older people are appropriately reflected through the diversity of the trustee body. Trustee Inductlon and Tralning Becoming a Trustee brings wth it specific responsibilities of which the new Trustee needs to be made aware. In particular, Trustees must have access to the information they need to be able to satisfy themselves that the funds and asset5 of the charity have been properly adminTStered. Thu5, all Trustees, as part of their induction, receive an Induction Pack containing a copy of the charity's key documents including the Memorandurn and Articles of Association and the latest financial statements. Each Trustee will meet with the Chief Executive Off?cer ICEOI and Finance Manager in order for the Trustee to gain an understallding of the financial position, an awarenes5 of the activities of the organisation, any resource issues il rnay be facing and future plans and objectives. Newly appointed Trustees are also provided with a comprehensive induction to Age UK Richmond uwn Thames through the provision of training courses and mentoring by established Twstees. Organlsational Structure Age UK Richmond uwn Thames has a Board of Trustees of up to twelve rnembers who meet quarterly and are responsible for the strategic direction and policy of the Charity. The Trustees carry the ultirnate responsibility for the conduct of the organisation and for ensuring that the Charity sat15fies its legal and contractual obligation5. At present the Board has 10 rnembers frorn a variety of professional backgrounds relevant to the work of the Charity. The CEO also attends board meetings but has no voting rights. Equal Opportunlties Age UK Richmond upon Thames operate5 a policy of equal opportunities. All recruitment, employment practice and service delivery within the organisation 15 carried out accordTng to the principles of equal opportunitie5.
AGE UK RICHMOND UPON THAMES TRUSTEES'ANNUAL REPORT Year Ended 31 March 2024 Rlsk Management In accordance with good governance practices the Board regularly assesses the rnajor risks to which the Charity is exposed, in particular those relating to the operation5 and finances of the Charity. Thi5 15 an especially important exercise at the current time, with the profound financial uncertainties about the future and the major changes being underthken by local and health authorities in supporting and commissioning activities in support of their statulory and other responsibilities. The Board reviews the risks faced by the Charity and the steps and procedures needed to avoid or mitigate them, revising it5 Risk Regisler as appropriate, and is satisfied that the necessary safeguard5 and procedures are in place, and that it can respond promptly to all foreseeable risks that may arise. A scheme of delegation is in place and the day-to-day operation of the organi5ation rests with the Chief Executive afficer. The Chief Executive Officer is responsible for ensuring that the charity delivers the seIce5 SFtcified and that key performance indicators are met. Related Partfe5 Age UK Richmond upon Tharnes is an independent local charity based in Richmond upon Thames, responsible for its own policy, direction and funding. Age UK Richmond upon Thames is a brand partner of Age UK. Working with Age UK we raise policy issues that rnay benefit from work at national level. We pursue locally, 155ues raised at national level. We prowde case studies, and we arrange for local older Feople to act a5 spokespeople on national topics. We prowde ideas arid input into discussions and con5ultalions on policy matters. Staff and Trustees attend a range of Age UK organised meetings to share 'best practice, and idea5. We receive monthly information and updates that may be of interest to local Age UK charities from Age UK, which undertakes national FX)licy and carnpaigning work. Through Age UK, we also have access, to reduceé Cost training for staff and volunteers, to share 'best practice. with other local Age UK charities around the country, and to training and support for Trustees. The charity also co-operates and liaises with a number of other advisory services, local charities and social service5 departments on behalf of clients. Age UK Richmond upon Thames IS the parent company in the Group, which also includes two subsidiaries, Age UK Richmond Handyperson Service Ltd IAUK HPSI and Age UK Richmond SeNices Ltd IAUK RSLI. AUK HPS is a trading company that provide5 a range of handyperson, housekeeping ar¢d gardening services. AUK RSL is a trading company that provTdes a range of local council services under the CommunTty Independent Living Serwces contract. AUK HPS ceased trading at the year end and the trade and net assets of the company were transferred to AUK RSL at that date. Register of Interests A register has been set up in which Trustees are required to declare their outside interests, specifically directorships of other Boards.
AGE UK RICHMOND UPON THAMES TRUSTEES'ANNUAL REPORT Year Ended 31 March 2024 PURPOSE & AIMS Our Charitys purposes as set out in the objects contained in the company's Articles of Association, with the outcome being the promotion of the wellbeing of older people. We review our aims, objectives and activitie5 each year. We continue to work towards achieving our targets Set out in our Strategic plan for September 2021 March 2025. Our mission is to provide 5upwrt to help local older people to live healthier, happier and more indewndent lives and our vision 15 to aspire to create a community where all older Feople can love later life. For the year ended 31 March 2024, our key strategic objectives were to= Deliver flexible, responsive and considered services and support to a5 many people in need of supwrt across the borough, particularly those who rnay be considered more vulnerable. Prowde a fully inclusive offer, continually reviewing our reach. Work in partnership to develop a dementia offering that meets the need of the community. Collaborate, build further partnerships, maxirnise resource5 and aim for excellence. Trustees regularly consider Charity Commission guidance and updates, especially regarding public benefit. As an organisation we continue to ensure we deliver our multitude of services in line with our Articles of Association, maximising public benefit. ACHIEVEMENTS AND PERFORMANCE It has been a successful year for the charity with 4058 local older people in the London Borough of Richmond upon Thatnes benefiting from at least one of our serwce5, and over 57,000 contacts. We continued to look for ways to develop our servTces and partnerships in line with our Strategic Plan, as well continue to deliver high-quality responsive services to those we support. The services prowded during the year included.. Information & Advice, including support to clairn benefits and other financial support during a continued period of intreased cost of living. A wide range of social & wellbeing group5, activities and support, delivered at our centres and at other locations across the borough - working in c105e partnership with others. HarTrdyperson, gardening and housekeeping support to help older people to continue to live independently. 'Connect to Tech, digital skills support and tutoring, designed to improve the digital skills of older people - including those new to digital technology. Dementia Friendly Communities Richmond, working in c105e collaboration with a wide rarige of other5 throughout the borough to find way5 to make the borough a more dementia inclusive place to live. Nightingale hospital discharge, working closely with the NHS to help support local older people once they had been discharged from hospital or had become unwell in the community - speeding up discharge5 and improving wellbeing once back at home.
AGE UK RICHMOND UPON THAMES TRUSTEES'ANNUAL REPORT Year Ended 31 March 2024 Mental Health Peer Support, working closely with the NHS, Richmond Borough Mind and other local charities to provide peer SUPEK)rt to older people with mental health condition5 as part of their recovery. Partnership continued to be key to our work during the year. We continued our leadership of the Community Iridependent Living Service ICILSI Partnership - working with Richmond Council and 19 other local voluntary organisations to 5UPPOrt vulnerable adults of all ages to improve wellbeing and live independently. Our partnerships to deliver Mental Health Peer Support and Dementia Friendly Richmond continued to expand and improve. We tried to ensure that we were as visible as possible throughout the borough by taking part in a wde range of community events, fairs and groups. Our staff and volunteers once again have been key to our succes5. Volunteers provide support throughout the organisation - including with office support. digital skills tutoring- fitting key safes and helping at our wellbeing activities. In the annual volunteer Survey, 83% of those responding said volunteering helped thern feel more positive and 85% said they felt more connected to the local cornmunity. Other notable progress during the year included: A 26% increase in financial gains for older people compared to the previous 12 months. 32,468 attendances at social & wellbeing groups, activities and centres - increasing from 28, 597 in the previous 12 months. 19% Tncrease in attendance from those living alone. 80% increase in the recording of those who have unpaid carers compared to the previous 12 months allowing u5 to do more to support and guide unpaid carers. 35% increase in the nutnber of Dementia Friendly Richmond organisat?ons. We have also looked to work in partnership to understand and improve services for people with detnentia and carer5. Achievement of the externally audited Charity Quality Standards ICQSI accreditation - assessed on indicators covering a range if areas including good governance; health & safety- 5afeguarding- financial management- leadership and rnanaging operations. Informatlon & Advice The year Saw continued high demand for our Infomiation & Advice service - delivered for free to older people throughout the borough. Financial advice & welfare benefits support was in high demand linked to a continued high cost of l?ving that impacted older people on low incomes and renting in particular. 1699 older people accessed the seThice in the period. 87% of those using the welfare benefit5 services providing feedback said their financial posltion had improved, and 85% said their sense of wellbeing had increased. Wellbeing Services Communit Inde endent Liv7n SeNce Grou s and Centres Our leadership of the Community Independent Living Seryice ICILSI, working th Richmond courlcil and 19 other local charities continued during the year. Together, over 3000 older and vulnerable adult5 of all ages were supported. We have looked to continue to develop this partnership during the year, including by utilising funding f rom Age UK London to look at way5 to help improve impact and outcomes monitoring with a particular focus on the smallest partners working with the least Staff capacity.
AGE UK RICHMOND UPON THAMES TRUSTEES'ANNUAL REPORT Year Ended 31 March 2024 Our OW social ft wellbeing groups and activities continued to be well utilised during the year with almost 1000 older people uti175ing this support- with continued high demand for exerase se55ions, outings and other social opportunities in particular. As well as at our three centres, services were also provided at a range of other locatTons and online. We a150 continued to provide befriending and other 5UPPOrt for some of the most isolated. Such support plays a key role in tacking social isolation, building connections and improving wellbeing among local older people. 84% of those providing feedback said our support helped them remain independent or improve health and mobility. 2. Connect To Tech Our free of charge 'Connect to Tech. digital inclusion program provided 837 sessions of support - one to one and in groups, in cornmunity locations and in hornes. 52% of individuals using the service lived alone and 68% were over 75. This included an intensive tablet loan scheme for those who are totally new to technology, with volunteer tutor support. 89% of those providing 5UPPOrt stated that their IT skills had improved by using the service. Feedback shows the real difference the serwce has made in terms of improved skills, wellbeing and connectiwty. 3. Dementia Friendl Richmond Our Dementia Friendly Richmond programme aims to make Richmond upon Thames a more dementia inclusive borough, working in partnership with organi5ations, businesses and individuals. Organisations pledge two action5 that Lhey can take when they join, and have access to dernentia friendly training and support. Over the year, the number of organisations involved with the partnership increased by 35% to 110. 4. Mental Health Peer Su ort We worked in partnership Wlth NHS South West London & St George's Mental Health NHS Trust, Richrnond Borough Mind, Richmond AID and Crossroad5 Care Richmond & Kingston to provide free peer SUPWft to older people with a severe or enduring mental health condition as part of their recovery journey. This new service ha5 allowed us to do more to support the mental health of older Feople- an area that often goes overlooked. Home Services Our highly popular and trusted home services include handyper50n support, housekeeping and gardening all designed to improve safety, enhance independence and support wellbeing. Our Handyperson Service focuses on smaller jobs that older and vulnerable people would find hard to get other tradesman to do but make a real difference to independence and wellbeing. It is heawly subsidised or free of charge, in order to be accessible and affordable for as many older people as possible. During the year, we also introduced a further reduction in cost for those older people in receipt of pension credit. 1690 handyperson visit5 were completed irs the period to 842 older people. 83% of those providing feedback said the service helped them live independently. Our housekeeping service provides a highly valuable setvlce to help older people live independently at home and is often used alongside packages of care. We often had a waiting list during the year due to recruitment issues, but we made good progress Tn expanding capacity.
AGE UK RICHMOND UPON THAMES TRUSTEES'ANNUAL REPORT Year Ended 31 March 2024 Nightingale Home from Hospltal Our Nightingale home from hospital seryice continued to provide much needed support to older people when they were discharged from hospital or became unwell in the community - supporting the NHS by speeding up discharges and keeping patients supported at home to avoid early readmi55Th0n. The strong outcomes achieved by the service led to the NHS EE Richmond Council funding a doubling of staffing capacity throughout the year. 514 older people accessed the Service during the year, an 18% increase on the previous 12 months. Pay policy for senior management The Board of Directors, who are the Charity's trustees, and the senior management team comprise the key management personnel of the Charity in charge of directing, controlling, running and operating the Charity on a day-to-day basis. All trustees give of their time freely and no trustee received rernuneration in the year. The pay of all staff including the senior staff is reviewed annually. Trustees have available to them benchmarks against comparable roles for other locally based charities and other comparable Age UK'S when determining salary levels and other ernployment benefits. Looklng Ahead We continue to develop and adapt our strategic plan and associated business plan to adapt to the changing needs of older people 2nd the wider environment we operate in. Looking ahead we aim to: Continue our focus on the more vulnerable older people, including those on lower incomes and unpaid carers. Look for ways to increase enEagement with our social & wellbeing centres and wider activities, working closely with other similar services in partnership. Continue our work to influence and improve dementia provision in the borough, working with our NHS and local authority partners. Look for ways to further diversify our income and look to develop our seice$ to reflect changing needs. Continue to develop our partnerships, and face challenges together. Thi5 will include looking at options with other Age UKS to work at a wider South West London level. FINANCIAL REVIEW Princlpal Funding Sources The principal funding sources for the Charity are by way of grant income, legacies, donations, income from activitie5 and income f rom our trading subsidiary cornpanies. Total income for the year increased by 11.9% or £250k in the year to E2.348m. Expenditure increased by 9.0% or £178k to C2.171 rn producing a surplus of £177k compared with a surplus of £105k in the previous year.
AGE UK RICHMOND UPON THAMES TRUSTEES'ANNUAL REPORT Year Ended 31 March 2024 For the last two years we were fortunate to receive legacy income which is, by it5 nature, non-recurring. £30k was received during the year under review compared to £84k in the previous year. The trustees are working with management to consider allocation of some of the reserves for specific projects to be developed that are consistent with the objectives of the Charity. During the year we recelved financial support from the London Borough of Richrnond upon Thames ILBRUTI, the Hampton Fund, the Richrnond Parish Lands Charity, Age UK National, Barnes Fund, Emanuel H05Pltal Foundation, The GC Gib50n Charitable Trust, the NHS as well as 5UPPOrt from others. Income & Expenditure Total income for the year wa5 £2,347,69912022123 - £2,097,665) which included profits donated by the two trading subsidiary companies. Total expenditure for the year was £2,171,032 12022123 £1,992,552). Staffing costs account for 42% of total costs, wth our CFLS partner costs at 38% and premises Costs at 7%. The management and trustees continue to closely manage and monitor expenditure to ensure only necessary expenditure is incurred. Group Age UK Richmond upon Thames is the parent compary of the Group which includes two wholly owned 5ub5idiaries, Age UK Richmond Handyperson Service Ltd IAUK HPSI and Age UK Richmond Seryices Ltd IAUK RSLI. The business of AUK HPS was transferred into AUK RSL at the year end. AUK HPS is now dormant, and application will be made to have il removed from the register of companies at Companies House. Investment Policy The investment policy state5 that no investments shall be made other than cash deposits With banks approved by the Board; shares in any subsidiary compary, and any investment in a body carrying on actiwty related to the operations of the organisation and approved by the Board. Our current practice is to hold our main reseNe5 In optimum yield cash funds with the Charities Aid Foundation, the CCLA Investment Management Ltd and with other financial Institutions where the cash deposit is covered by the Financial Services Compensation Scheme. Reserves Policy Age UK Richmond upon Thames reviewed its reserves policy during the year, together with all financial procedures, to ensure the Charity has adequate funds to cover the eventuality of funding from external sources for core and essential activities ceasing or being 5eriou51y curtailed. The objective is to maintain the organisation's core management and information and adwce services and to ensure continuity as a going concern for at leasi six months to enable funds to be rebuilt. Our current level of net unrestricted funds as shown in note 19 of these accounts is £898,851 12022123 - £722,184) meets the reseNe funding objective. It is a principle of the policy that unrestricted funds, not required a5 working capital or for other purposes, should not be relained unnecessarily but should be invested in the future of the organisation and for the benefit of older people.
AGE UK RICHMOND UPON THAMES TRUSTEES'ANNUAL REPORT Year Ended 31 March 2024 REFERENCE AND ADMINISTRATIVE DETAILS Patrons Sarah Olney MP Munira Wilson MP Vice Presidents Andrew Ayling Clive Bradley CBE Michael Phelp5 Veronica Schroter Registered charity name Age UK Richmond upon Thames Charity registration number 1084211 Company registration number 4116911 Company status The organisation is a charitable company limiied by guarantee. Registered office and Principal office address The White House Community Centre 45 The Avenue Harnpton TW12 3RN Trustees Sandra Aldridge Liz Baran Erin Coburn.Kutay Clare Dixon Kim Flitcroft Kate James - Chair David King - Treasurer Denise Mahoney Anne McKee Alan McNab John Mikucki Judith Rutherford Ratna Ruygrok (appointed on 23 10512024 (retired on 3110512024) (retired on 1110112024 (appointed on 23105120241 (retired on 0110912023} Company Secretary David Baggs Chief Executlve Offlcer Gavin Shand Auditors Hartley Fowler LLP Chartered Accountants 4th Floor, Tuition House 27137 St. George's Road Wimbledon, London SWf9 4EU Bankers Barclay5 Bank plc CAF Bank Ltd HSBC Bank plc Solicitors IBB Law LLP and Russell Cooke LLP io
AGE UK RICHMOND UPON THAMES TRUSTEES'ANNUAL REPORT Year Ended 31 March 2024 Trustee5' responslbllltles In relatlon to the flnanclal statsments The Trustees (who are also the dlrectors of Age UK Richmond upon Thames for the purposes of cornpany lawl are responsible for preparing the Trustees, Annual Report and the financial statements Tn accordance with applicable law and Unlted Kingdom Accountlng Standards {United Klngdom Generally Accepted Accounting Practice). Company law requlres the Trustees to prepare financial statements for each finandal year that give a true and fair view of the state of affairs of the charfty and of the incomlng resources and appllcatlon of resources, includlng the net income or expenditure, of the charity for the year. In preparing tlK>se financlal Statements the TrLrtees are required to: select 5Ultable accountlng policies and then apply them conslstently observe the methods and principles in the Charity Commisslon's Statement of Recommended Practice make jud¥ments and accountlng estlmatss that are reawnable and prudent prepare the fInarlal statements on the going concern basis unles5 it is inappropriate to presume that the charity will continue in business. The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at ary time the fInala1 position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for 5afeguardin£ the assets of the charlty and hence for taklng reasonable steps for the preventlon and detection of fraud and other Irregularities. Staternent as to Disclosure of Information to Audltors In so far a5 the Trustees are aware: there is no relevant audit inforniation {as defined by sectlon 418 of the Companies Act 20061 of vthlch the charitable companys auditors are unaware. and each trustee has taken all Steps that they ought to have taken to make themselves aware of any reLevant audlt information and to establish that the company's auditor5 are aware of that infom)at70n. AudTtors The auditors, Hartley Fowier LLP, 11 be proposed for re-appointment at the forthcoming Annual General Meeting. Thls report ha5 been prepared In accordance wfth the prov15ions of Part 15 of the Companies Act 2006 relating to small companies. Signed on behalf of the Board of Trustees I&Lc a Kate James Chalr Date 2nd Sept•mber 2024 11
AGE UK RICHMOND UPON THAMES INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF AGE UK RICHMOND UPON THAMES Year Ended 31 March 2024 Opinion We have audited the financial statements of Age UK Richmond Upon Thames (the 'parent charitable company'l and its subsidiaries Ithe 'group' I for the year ended 31 March 2024 which comprise the consolidated statement of financial activitie5, the group and parent charitable company balance sheets, the consolidated statement of cash flows and the notes to the financial statetnents, including a summary of significant accounting policies. The financial reFX)rting f ramework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, 7ncluding Financial Reporting Standard 102 The Financial Reporting Standard applicable in ihe UK and Republic of Ireland, Iunited Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair wew of the state of the group's and the parent charitable companys af fairs as at 31 March 2024 and of its incoming resources and application of resources. including it5 income and expenditure for the year then ended- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. have been prepared in accordance with the requirernents of the Companies Act 2006. Ba515 for opinlon We conducted our audit in accordance wlih International Standard5 on Auditing IUKI IISAS ILtKII and applicable law. Our responsibilities under those standards are further described in the Auditors. responsibilitie5 for the audit of the financial staternents section of our report. We are independent of the group in accordance with the ethical requTrements that are relevant to our audit of the financial statements in the UK, including the Financial Reporting Council s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to prowde a basis for our opinion. Conclusions relating to going concern We have nothing to report in respect of the following rnatters in relation to which the ISAS IUKI require us to report lo you where.. the trustees. use of the going concern basis of accounting in the preparation of the flnancial statements 15 riot appropriate,. or the trustees have not disclosed in the financial statements any identTfied material uncertainties that may cast significant doubt about the groups or the parent charitable company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve month5 from the date when the financial statements are authorised for issue. Other information The trustees are responsible for the other information. The other information comprises the informat?on included in the trustees, annual rerx)rl, including the strategic report, other than the financial statements and our audilor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otheNi5e explicitly stated in our report, we do not express any form of a55urance conclusion thereon. 12
AGE UK RICHMOND UPON THAMES INDEPENDEKf AUDITORS, REPORT TO THE MEMBERS OF AGE UK RICHMOND UPON THAMES Year Ended 31 March 2024 In connection with our audit of the financial statements, our responsibilTty 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 otheM5e appears to be rnaterially misstated. If we identify such rnaterial inconsT5tencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial staternents or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other inforrnation, we are required to report that fact. We have nothing to report in this regard. OpTnion 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, including the strategic report for the financial year for which the financial statements are prepared is consistent with the financial statements. 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 our knowledge and ullderstanding of the group and the parent charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the trustee5 annual report, including the strategic report. We have nothing to report in respect of the followng 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 by the parent charitable company, or returns adequate for our audit have not been received from branches not wsited by us,. or the parent charitable company financial statement5 are not in agreement with the accounting records and retums. or certain disclosures of trustees. rernuneration specified by law are not made., or we have not received all the information and explanations we require for our audit. Responslbilities of trustees As explained more fully in the tru5tees' responsibilities slatement set out in the trustees, annual report, the trustees (who are also the directors of the parent charitable company for the purposes of company lawl are responsible for the preparation of the financial staternent5 and for being satisfied that they give a true and fair view, and for such internal control as the trustee5 determine is necessary to enable the preparation of financial statetnents that are f ree from material mi5Stalement, whether due to f raud or error. In preparing the financial statements, the trLtstees are responsible for assessing the group'5 and the 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 the parent charttable company or to cease operations, or have no realistic alternative but to do so. 13
AGE UK RICHMOND UPON THAMES INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF AGE UK RICHMOND UPON THAMES Year Ended 31 March 2024 Auditors. responslbilities for the audit of the financial statement5 Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free frorn material misstatement, whether due to fraud or error, and to issue an auditor5, 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 IUKI will always detect a material misstatement when it exists. Mi55tatements 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 user5 taken on the basi5 of these financial statement5. We communicate with those charged wrth governance regarding, among other matter5, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during the aLSdit. We identify and assess risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedure5 responsive to those risk5, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion. In identifwng and assessing risks of material misstatement in respect of irregularitie5, including fraud and non-cornpliance with laws and regulations, we considered the following: the nature of the industry and sector, control environment and the group and parent charities activities. results of our enquiries of rnanagement about their own identification and assessment of the risks of irregularities- any matter5 we identified having obtained and rewewed the gn)up5 and parent charitable company's documentation of their policies and procedures relating to- identifwng, 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 of fraud or non-cornpliance with laws and regulations,. the matter5 discussed among the audit engagement teatn regarding how and where f raud might occur in the financial statements and any rx)tential indicators of fraud. As a result of these procedures, we considered the opportunitie5 and incentives that may exist within the organisation for fraud. In common with all audits we are also required to perform specific procedures to respond to the risk of rnanagement override. We also obtained an understandTng of the legal and regulatory framework that the parent charitable company operates in. The key laws and regulations we considered in this context included the Charities Act 2011, UK Companies Act and tax legislation. In addition we considered provisions of other laws and regulatlOf75 that do not have a direct effect on the f?nancial statements but compliance with which may be fundamental to the group and parent charitable company5 ability to operate or to avoid a material penalty. A5 a result of performing the above, we did not identify ary key matters related to the potential risk of fraud or non-compliance wth laws alld regulation5. 14
AGE UK RICHMOND UPON THAMES INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF AGE UK RICHMOND UPON THAMES Year Ended 31 March 2024 Our procedure5 to respond to risks identified included the follong- reviewing the financial statement disclosure5 and testing to supporting documentation to assess compliance with provision of relevant law5 and regulatlOll5 described as having a direct effect on the financial statements,. enquiring of management concerning actual and px)tential litigation and claims. performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material rnisstatement due to fraud- reviewing minutes of meetings of those charged with governance, reviewing intemal rewrts, and in addressing the risk of f raud through management override of controls, testing the appropriateness of journal entries and other ad ju5tments, a55e55ing whether the judgements made in rnaking accounting estimates are indicative of a potential bias and evaluating the business rationale for any significant transaction5 that are unusual or outside the nomial course of business. We a150 communicated relevant identified laws and regulation5 and potential fraud risk5 to all engagement team members and remained alert to any indication of fraud or non.cotnpliance with laws and regulations throughout the audit. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uklauditorsresponsibilities. Thi5 description forms part of our auditor'5 report. Use of our report This report is made solely to the charitable company's members, a5 a body, in accordance wth Chapter 3 of Part 16 of the Companie5 Act 2006. Our aud?t work has been undertaken so that we rnight state to the charitable tornpany's members those rnatters we are required to state to them in an auditors, report and for no other purpose. To the fullest extent perrnitted by law, we do not accept or assurne responsibility to anyone other than the charitable company and the charitable company's members a5 a body, for our audit work, for this report, or for the opinions we have forrned. Jonathan skew, FCA I for and on behalf of H Statutory Auditor Chartered Accountants Fourth Floor, Tuition House 27137 St George'5 Road London SW19 4EU statutory auditor) y Fowler LLP 18 November 2024 15
AGE UK RICHMOND UPON THAMES CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES lincluding consolidated income and expenditure account) Year ended 31 March 2024 Unrestricted Restricted Funds Funds Total Funds 2024 Total Funds 2023 Note Income Donations and memberships Commercial trading activitie5 Incoffle from charitable activities Snvestment income - bank interest 50,424 65,203 435,442 20,093 50,424 65,203 2,211,979 20,093 43,404 57,791 1,990,755 5,715 1,776,537 Total Income 571,162 1,776,537 2,347,699 2,097,665 Expenditure Raising funds Commercial trading activities Expenditure on charitable activities (921) {89,841) 1298,128) 11,782,142) 1921) {3,234) {89,841) 170,064) 2,080,270) 11,919,254) Total Expenditure 1388,890) 11,782,142) 12,171,032) 11,992,552) Net income l (expenditure) for the year 182,272 15,605) 176,667 105,113 Transfers between funds 19120 15,605) 5,605 Net movement in funds for the year 176,667 176,667 105,113 Reconciliation of fund5 Total funds brought forward 722,184 722,184 617,071 Total funds carried forward 898,851 898,851 722,184 The Statement of Financial ACtItieS includes all gains and losses recognised in the year and therefore a statement of total recognised gains and losses has not been prepared. All income and expenditure derive from continuing activities. The comparative statement of Financial Activities is shown in note 24. The note5 on prJyes 19 to 39 form part of these finoncial Statements. -16-
AGE UK RICHMOND UPON THAMES CONSOLIDATED BALANCE SHEEr Year ended 31 March 2024 The Group The Charity 2024 2023 2024 2023 Note Fixed Assets Tangible assets Investments 13 15,313 15 15,313 Current Assets Stock Debtors 14 5,501 611,133 1,254,382 3,050 250,997 1,027,545 173,548 1,086,904 257,245 755,171 Cash at bank and in hand 1,871,016 1,281,592 1,260,452 1,012,416 Current Liabilities Creditors: Amounts falling due within one year 18 1987,478) 1559,4101 {412,9441 1359,648) Net Current Assets 883,538 722,182 847, 508 652,768 Total Assets Less Current Liabilities & Total Net Assets 898,851 722,184 847,510 652,772 The Funds of the Charity: Unrestricted income funds 19 898,851 722,184 847,510 652,772 Restricted income funds 20 Total Charity Funds 898,851 722,184 847,510 652,772 The trustees have prepared groLJP accounts in accordance with section 398 of the Companies Act 2Ch36 and section 138 of the Charities Act 2011. These accounts are prepared in accordance with the special provisions of Part 15 of the Companies Act relating to small companies and constitute the annual accounts required by the Companies Act 2C(J6 and are circulated to members of the company. They were approved by the Board of Trustees on 2nd September 2024 and signed on their behalf by: OGLJ-L L_ Kate James Chair David King TreasLArer The notes on pages 19 to 39 form port of these financial statements. 17-
AGE UK RICHMOND UPON THAMES CONSOLIDATED STATEMENT OF CASH FLOWS Year ended 31 March 2024 The Group 2024 The Group 2023 Note Cash f lows from operating activities Net movement in funds for the year add: depreaation charge less: Interest received Gain on sale of tangible fixed asset other adjustments: lincreasel I decrease in stocks lincreasel in debtors increase in creditors 176,667 105,113 13 3,090 120,0931 800 (5,715) 14 (2,4511 (360,1341 428,068 38 155,241) {147,735) 17 18 49,280 (208,653) Net cash flows from operating activities 225,947 1103.540) Cash flows f rom investing activities Interest received Sale of tangible fixed asset Purchase of tangible fixed assets 20,093 5,715 13 119,2031 Net cash flows from investing activities 890 5,715 Cash flows from financing activities Net cash flows from financing activities Increase l (decrease) in cash and cash equivalents in the year 226,837 197,8251 Cash and cash equivalents at the beginning of the year 1,027,545 1,125,370 Cash and cash equivalents at the end of the year 1,254,382 1,027,545 The notes on poyes 19 to 39 form part of these financial statements. -18-
AGE UK RICHMOND UPON THAMES Note5 on the Financial Statements Year ended 31 March 2024 Accounting policies The Charity is a company limited by guarantee registered in England & Wales and has no share capital. The charitls registered office address is The White House, 45 The Avenue, Hampton, Richmond Upon Thames, TW12 3RN. Its registered company number is 4116911 and its charity number is 1084211. In the event of the Charity being wound up, the liability in respect of the guarantee 15 limited to £1 per member of the Charity. At 31 March 2024 the company had 9 members 12023 - 11 members). During the year the Charity's constitution was amended to reflect the class of individuals to be known as members is now simply the charity's trustees. The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows- a) Basis of preparation These financial statements were prepared in accordance th Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial reporting Standard5 applicable in the UK and Republic of Ireland (FR5 102), effective 1 January 2019. Charities SORP (FRS 1021, and the Companies Act 2006. The parent company, Age UK Richmond, also known as "the Charity" 15 included in the consolidated financial statements, and is considered to be a qUalifn9 entity in that it meets the definition of a public benefit entity under FRS 102. The following exemptions available under FRS 102 in respect of certain disclosure requirements for the parent company financial statements have been applied: No separate parent company Cash Flow Statement with related notes is included. The company has taken advantage of exemption, under the terms of Financial ReportTng Standard 102, not to disc105e related party transactions with wholly owned subsidiarie5 Within the group. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. b) Preparation of the occounts on a going concern basis The trustee5 are satisifed that the Group is a going concem and that these accounts should be prepared on that basis. WTth the continuing uncertain economic outlook the trustees and C.E.O. remaTn in regular contact with our sponsoring local authorities and grant funders to secure their ongoing financial support. Against this background the Group reported a cash inflow of £226,837 for the year12023 £97,825) and a cash inflow of £331,733 12023 £192,918) for the Charity alone. The Charity also has unrestricted funds totalling £847,51012023 £652,772). The trustee5 have considered the level of funds held and the expected level of income and expenditure for 12 months following the approval of these financial statements. The budgeted income and expenditure is sufficient with the existing level of reserves for the Charity to be able to continue as a going concern. 19-
AGE UK RICHMOND UPON THAMES Note5 on the Financial Statements Year ended 31 March 2024 Accounting policies cont. c) Group financial statetnent5 1 ba515 of consolidation These financial statements consolidate the results of the Charity and its wholly owned subsidiarie5, Age UK Richmond Handyperson Semce Ltd IAUK HPS) and Age UK Richmond Services Ltd (AUK RSL), on a line by line basis. A separate Statetnent of Financial Activities and Income and Expenditure Account for the Charity has not been presented because the Charity has taken advantage of the exemption afforded by section 408131 of the Companie5 Act 2006. d) Income Income is recognised in the SOFA when the Charity has entitlement to the funds, any perfomiance conditions attached to the income have been met, it 15 probable that the income will be received and the amount can be measured reliably. Grants receivable are recognised in the SOFA for the period which the Charity becomes entitled to the income. Grants received that have restrictions on entitlement relating to services that have not yet been del7vered are treated as deferred income at the balance sheet date (see note 191. Grants received without any restriction on entitlement are recognised in full upon award. For legacies, entitlement is taken a5 the earlier of the date on which either: the Charity is aware that probate has been granted, the estate ha5 been finalised and notification has been made by the executor{51 to the Charity that 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 grantTng of probate, and the criteria for income recognition have been met, then the legacy is treated as a contingent asset and disclosed if material. Income from the provision of help at home services and community service actiwties is recognised as earned when the related sermces are provided. Membership subscriptions are recognised as income over the period in which membership benefits accrue. All subscriptions run to 31 March with rates reduc7ng for membership5 less than 1 year. e) Donoted services ond facilities Donated profe55ional services and donated facilities are recognised as income when the Charity has control over the item, any conditions associated wth the donated item have been met, the receipt of economic benefit form the use by the Charity of the item is probable and that economic benefit can be measured reliably. In accordance wth the Charities SORP IFRS 102), the general volunteer time of our team of volunteers is not recogni5ed. Refer to the Trustees, Annual Report for more information about their contribution to the work of the Charity. On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the Charity which is the amount the Charity would have been willing to pay to obtain Services or facilities of equivalent economic benefit in the open market. a corresponding amount is then recogni5ed in expenditure in the period of receipt. -20-
AGE UK RICHMOND UPON THAMES Notes on the Financlal Statements Year ended 31 March 2024 Accounting policle5 - cont. f) Interest receivable Interest on fund5 held on dep051t 15 included when receivable and the amount can be measured reliably by the Charity. thTS 15 normally upon notification of the interest paid or payable by the bank or financial institution. All of the group'5 investment income arises from money held in interest bearing deposit accounts regulated by the Prudential Regulation Authority and covered by the Government's Financial Services Compensation Scheme IFSCSI. g) Fund occountins Unrestricted funds are available to spend on activities that further any of the purposes of the Charity. Designated funds are unrestricted funds of the Charity which the trustee5 have decided at their discretion to set aside to use for a Specific purpose. See Note 19 for more information. Restricted funds are donations or grants which the donor has specified are to be solely used for a particular area of the Charitys work or for a specific project being undertaken by the Charity. See Note 20121 for More information. h) Expenditure and irrecoveroble VA T Expendlture is recognised once there is a legal or constructive obligation to make a payment to a thTrd party, it is probable that settlement wll be required and the amount of the obligation can be measured reliably. Expenditure 15 classified under the followng headings: Costs of raising funds comprise organising community fundraising and developing major donor relationship5. Costs of commercial trading actiwties comprise costs associated with our handyperson service. Expenditure on charitable actiwties includes the costs of running our social & wellbeing centres; our GoLocal contracts; Nightingale contract. Information & adwce Service and our community services. Other expenditure, where disclosed, represents those items not falling into any other heading. Irrecoverable VAT is charged a5 a cost against the activity for which the expenditure was incurred. The Group is VAT registered and expenditure in both trading subsidiaries is shown net of VAT. i) Allocation of support costs Support Costs are those functions that assist the work of the Charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the Charity programmes and actiwties. These costs have been allocated between the cost of raising funds and expenditure on charitable activitie5. The basis on which support costs have been allocated are set out in note 9 to the account5. j) Governonce costs Governance costs include the costs of compliance wth constitutional and statutory requirements, external aud7t, and the costs of legal advice and insurance for the trustees. k) Operotins leoses Operating leases are where substantially all of the benefits and risks of ownership remain with the lessor. Rentals payable under operating lease5 are charged to the SOFA as incurred on a straight line basis over the term of the lease, or the period to the next rent review. -21-
AGE UK RICHMOND UPON THAMES Notes on the Financial Staternents Year ended 31 March 2024 Accounting policies - cont. 1) Significant accounting judgement5 and estimates In preparing these financial statements management has made judgements, estimates and assumptions that affect the application of the charity's accounting policies and Lhe reported assets, liabilities, income and expenditure and the disclosures made in the financial statements. Estimates and judgements are continually evaluated and are based on historical experience and other factors. including expectations of future events that are believed to be reasonable under the circumstances. m) Tonsible fixed assets Individual fixed assets costing £1,000 or more are capitalised at C05t and are depreciated over their estimated useful economic lives on the following basis: Asset category Motor vehicles Plant & equipment - Annual rate 33% reducing balance 25% straight line n) Stock Stock is included at the lower of cost or net reali5able value. Donated items of stock are recognised at fair value which is the amount the Charity would have been willing to pay for the Ttems on the open market. o) 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 discount due. p) Cosh at bank Gnd in hand Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of six months or less from the date of acquisition or opening of the deposit or similar account. q) Creditor5 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 allowTng for any trade discount due. Deferred Income represents grant income that relates to the next financial year. Accruals represent an estimate of costs incurred, sometimes over several years for which the charity has not yet been invoiced. -22-
AGE UK RICHMOND UPON THAMES Notes on the Financial Statements Year ended 31 March 2024 Accounting policies - cont. r) Financial instruments The Charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognTsed at transaction value and subsequently measured at their settlement value with the exception of bank loan5 which are subsequently measured at amortised cost using the effective interest rate. The Charity does not have any bank loans. s) Pensions The Charity operates a defTned contribution group personal pension plan with Scottish Widow5 which is available to all employees. The scheme was originally wth Zurich Assurance and the scheme a55ets, following legal approval by the Courts, are transferred to Scottish Widows. Employees joining the scheme contract directly with the insurance company. The Charity contributes 5% of earnings to the scheme and acts as agent in collecting and paying over employee pension contributions. The assets of the scheme are held separately from those of the Charity and the annual contributions are charged to the Statement of Financial Activities. Differences between contributions payable in the year and contributions actually paid are shown as accruals in the balance sheet. t) Corporation tox The Charity is considered to meet the definition of a charitable company for UK corporation tax purposes. Accordinglyj the Charity is exempt from tax on income and gains falling wthin section 505 of the Taxes Act 1988 or Section 252 of the Taxation of Chargeable Galns Act 1992 as any surplus Tncome and gains are applied for charitable purposes. The charitys trading subsidiary companies pay available profits to the Charity by gift aid donation. Their charge to corporation tax in the year is £nil. 12023 - £nil. I 2) Financial performance of the charity The con501idated statement of financial activities includes the results of the Charity's wholly owned subsidiaries, Age UK Haridyperson Service Ltd and Age UK Richmond Services Ltd. Age UK Handyperson Service Ltd provides home services to the people of Richmond and Age UK Richmond Services Ltd provides service5 to the people of Richmond under the council's Community Independent Living Service initiative. Both of these contracts are with the London Borough of Richmond Upon Thames and are operated through trading subsidiaries for legal and commercial reasons. The summary financial performance of the Charity alone stated overleaf is: -23-
AGE UK RICHMOND UPON THAMES Notes to the Financial Statements Year ended 31 March 2024 21 Financial performance of the charity - cont. The Charity 2023 2024 Income 973,587 837,299 Gift aid from subsidiary company Age UK Richmond Handyperson Service Ltd Age UK Richmond Services Ltd 1.294 68,118 1,042,999 1848,261) 2,478 86,024 925,801 {801,5981 Expenditure on charitable activities Net income for the year 194,738 124,203 Total funds brought forward 652,772 528,569 Total funds carried forward 847,510 652,772 Represented by: Unrestricted income funds Restricted income funds 847,510 652,772 847,510 652,772 Unrestricted Funds 3. Income from donations & memberships Total Funds Total Funds 2024 2024 2023 Donations Nightingale Community services Head office 981 5,972 20,574 981 5,972 20,574 307 5,903 15,795 Total donations Membership subscriptions - social centres 27,527 22,897 50,424 27,527 22,897 50,424 22,005 21,399 43,404 In accordance with the Charities SORP (FRS 102), the general volunteer time of our team of volunteers is not recogni5ed. Refer to the Trustees. Annual Report for more infomiation about theTr contribution to the work of the Charity. 24-
AGE UK RICHMOND UPON THAMES Notes to the Financial Statements Year ended 31 March 2024 4. Income from commercial trading activities Age UK Richmond Handyperson Service Ltd, a Company registered in England and Wale5, Wlth Company registration number 08150786 and registered office address The White House, 45 The Avenue, Hampton, Richmond Upon Thames, TW12 3RN, is a wholly owned subsidiary of Age UK Richmond Upon Thames which own5 100% of the ordinary shares of the Company. The Company provided home services throughout the borough. A summary of its trading results, excluding transactions within the group, is shown below for the year ended 31 March 2024. Gift Aid payments are treated as a distribution from the subsidiary to the charity and as such are only recognised when there TS a legal obligation to make the payment. The gift aid payment was made after the year end and 50 IS not recognised in either of these consolidated financial statements or the financial statements of the subsidiary. Year Ended Year Ended 31 March 31 March 2024 2023 Help at hotne services Grant funding 65,203 31,621 57,791 13,567 Total turnover Cost of sales and administrative costs 96,824 189,841) 71,358 (70,0641 Net profit Amount gift aided to charity 6,983 11,294) 1,294 12,4781 Amount retained in subsidiary 5,689 11,1841 The assets and liabilitie5 of Age UK Handyperson Service Ltd were: Current assets Current liabilities 8,950 11,966) 25,851 124,556) Total net assets 6,984 1,295 Share capital Reserve5 6,983 1,294 Total Capital and Reserve5 6,984 1,295 -25-
AGE UK RICHMOND UPON THAMES Notes to the Financial Statements Year ended 31 March 2024 5. Income from charitable activities Unrestricted Restricted Funds Funds 2024 Total Funds 2024 Total Funds 2023 2024 Information & advice Nightingale project Community service5 Help at home servTces 90,347 5,000 176,175 163,920 171,456 188,018 1,325,071 91,992 261,803 193,018 1,501,246 255,912 244,426 133,650 1,395,140 217,539 435,442 1,776,537 2,211,979 1,990,755 Unrestricted Restricted Funds Breakdown by category Funds Total Fund5 2024 Total Funds 2024 2024 2023 Informotion & advice LBRUT - Home maintenance contract LBRUT - Cost of living grant LBRUT - commissioning {RTchmond AID) AGE UK National Richmond Parish Lands Chartty Hampton Fund Charity The Barnes Fund Emanuel Hospital Foundation The GC Gibson Charitable Trust 6,540 6,540 38,665 39,600 58,616 4,300 64,200 3,134 12,500 4,000 6,540 9,667 37,440 10,000 22.420 64,200 1,567 4,792 3,000 38,665 39,600 48,616 10,000 4,300 64.200 3,134 12,500 4,000 Total grant & contract income Activities irFcome 60,099 248 171,456 231,555 248 159,626 589 Legacy income 30,000 30,000 84,211 90,347 171 ,456 261,803 244,426 -26-
AGE UK RICHMOND UPON THAMES Notes to the Financial Statements Year ended 31 March 2024 5. Income from charitable activities - cont. Unrestricted Funds Restricted Funds Total Funds Total Funds 2023 2024 2024 2024 Niyhtinsale project Richmond Parish Land5 Charity The Barnes Fund Better Care Fund 3,000 2,000 3,000 2,000 188,018 3,000 1,000 129,650 188,018 5,000 188,018 193,018 133,650 Community services LBRUT Digital inclusion LBRUT - Dementia friendly Richmond LBRUT - CiLS contract NHS Mental Health peer support Hampton Fund Charity Age UK National Richmond Parish Lands Charity Emanuel Hospital Foundation The GC Gibson Charitable Trust The Barnes Fund 47,900 27,560 1,193,571 49,603 47,900 27,560 1,193,571 49,603 61,800 26,000 1.124,735 5,000 45,063 8,600 1,667 5,000 2,567 38,716 4,740 6,437 45,153 4,740 5,133 5,133 Total grant & contract income Lettings income FiSH Neighbourhood Care ActTVities income 48,589 15,340 1,617 110,629 1,325,071 1,373,660 15,340 1,617 110,629 1,280.432 17,510 1,248 95,950 176,175 1,325.071 1,501,246 1,395,140 Help at home seryices Housekeeping service5 LBRUT - Home maintenance contract Richmond Parish Lands Charity Hampton Fund Charity Barne5 Workhouse Fund 147,787 147,787 77,242 11,000 14,750 5,133 116,472 72,500 11,000 15,000 2,567 77,242 11,000 14,750 5,133 163,92¢Y 91.992 255,912 217,539 27-
AGE UK RICHMOND UPON THAMES Notes to the Financial Statements Year ended 31 March 2024 6. Expenditure on charitable activities Unrestricted Fund5 Restricted Funds Total Funds Total Funds 2024 2024 2024 2023 Note Information & advice Nightingale project Community services Help at home services Support costs Governance costs 3,854 1.015 250,520 12,661 15,835 14,243 151,916 188,018 1,191,965 91,992 154,197 4,054 155,770 189,033 1,442,485 104,653 170,032 18,297 144,083 145,808 1,327,384 107,529 178,290 16,160 298,128 1,782,142 2,080,270 1,919,254 7. Analysi5 of total expenditure Total Funds Total Funds 2024 2023 Salary, Nl & pensions Recruitment, training, travel & volunteering Premises costs Office expenses General Insurances PublTaty & promotions Activity expenditure Depreciation Community Services partner costs Governance costs 10 907,384 31,728 154,197 44,997 4,092 8.302 164,852 3,090 834,093 18,297 818,230 27,266 154,202 47,544 4,043 7,282 149,839 767,986 16,160 2,171,032 1,992,552 -28-
AGE UK RICHMOND UPON THAMES Notes to the Financial Statements Year ended 31 March 2024 8. Support costs 2024 Total 2023 Total Office Premises Information & advice Nightingale project Comtnunity services Help at home serwces 5,958 799 8,435 643 24,031 29.989 799 138,601 643 6,446 762 170,376 706 130,166 15,835 154,197 170,032 178,290 Cost allocation includes an element of judgement. Costs are allocated directly where possible and allocations have been calculated on a consistent basis year on year. Premises costs are allocated on the basis of head count and office expenses are on the basi5 of estimated time spent. 9. Governance costs Unrestricted Funds Restricted Funds Total Funds 2024 Total Funds 2023 2024 2024 AGM & governance meeting5 Audit fee5 Other non audit services Legal & professional fees 1,975 8,050 3,250 2,885 10,993 3,250 10,993 3.250 4,054 4,054 14,243 4,054 18,297 16,160 10. Staff costs and staff numbers All staff are employed by the Charity although there are a number of staff who provided support to both the charitable and trading activities of the Group. The salaries of these staff are recharged to the relevant part of the group in proportion to the amount of time Spent on work to support that part of the group. This is formalised in a cost sharing agreement between the Charity and the trading subsidiary. Total staff costs were a5 follows- 2024 2023 Wages and salaries SocTal security costs Pension costs 791,732 53,938 61,714 711,927 50,433 55,870 907,384 818,230 -29-
AGE UK RICHMOND UPON THAMES Notes to the Financial Statements Year ended 31 March 2024 10. Staff costs and staff numbers - cont. Particulars of employees: The average number of employees during the year on a head count basis wa5 52 (2023 - 47). The average number of employees during the year, calculated on the basis of full-time equivalents. was as follows: 2024 2023 Information & advice Community services Help at home services Nightingale project 33 22 Key Management personnel for the Group are the senior management team totalling 2 employees. Remuneration and employer NIC'S & pension costs (total emoluments) amounted to £124,80012023 - £156,026). One employee received emoluments of more than £60,000 during the year. {2023 - None). -30-
AGE UK RICHMOND UPON THAMES Notes to the Financial Statements Year ended 31 March 2024 11. subsidiary undertaking5 During the year the Age UK Richmond Upon Thames Group carried out activities through two wholly owned trading subsidiaries. Details of Age UK Richmond Handyperson Service Ltd and its results are disclosed in note 4 to the financial Statements. Age UK Richmond services Ltd, a Company registered in England and Wales, with Company registration number 08809742 and registered office address The White House, 45 The Avenue, Hampton, Richmond Upon Thames, TW12 3RN, is a wholly owned subsidiary of Age UK Richmond Upon Thames which owns 100% of the ordinary shares of the Company. A summary of its results is shown below for the year ended 31 March 2024. Surpluses generated are transferred to the charity {parent company) by way of gift aid donation. Year Ended 31 March 2024 Year Ended 31 March 2023 Turnover 1,194,286 1,125,027 11,149,928) (1 ,056,909) Cost of sales and administrative costs Net operating profit Amount gift aided ta charity Amount retained in subsidiary 44,358 (68,118) 123,7601 68,118 186,024) 117,906) The assets and liabilities of Age UK Richmond Service5 Ltd were: Current assets Current liabilities 675,353 630,993) 44,360 243,325 1175,2051 68,120 Total net assets Share capital Reserves 44,359 68,119 Total Capital and Reserves 44,360 68.120 12. Net incorne / (expenditure) for the year 2024 2023 Thi5 TS stated after charging: OperatTng lease rentals - land & buildings Auditors, remuneration: Audit of these financial statements Audit of subsidiary companies 112,235 111,735 6.300 5,000 6,300 5,000 31-
AGE UK RICHMOND UPON THAMES Notes to the Financial Statements Year ended 31 March 2024 13. Tangible fixed asset5 Motor Vehicles 2023 Total The Group Equipment Total Cost At 1 April 2023 Additlons Disposals 60,324 19,957 19,203 119,9571 80,281 19,203 (19,957) 80,281 At 31 March 2024 60,324 19,203 79,527 80,281 Depreciation At 1 April 2023 Charge for the year Released on disposal 60,324 19,957 3,890 {19,957) 80,281 3,890 (19,9571 80,281 At 31 March 2024 60,324 3,890 64,214 80,281 Net book value At 31 March 2024 15,313 15,313 At 31 March 2023 Motor 2023 The Charity Equipment Vehicles Total Total Cost At 1 April 2023 Disposals 60,324 11,294 111,294) 71,618 (11,294) 71,618 At 31 March 2024 60,324 60,324 71,618 Depreciation At 1 April 2023 Released on disposal 60,324 11,294 111,2941 71,618 (11,294) 71,618 At 31 March 2024 60,324 60.324 71,618 Net book value At 31 March 2024 At 31 March 2023 -32-
AGE UK RICHMOND UPON THAMES Notes to the Financial Statements Year ended 31 March 2024 14. Stock The Group 2023 The Charity 2024 2024 2023 Stock for resale 5,501 3,050 15. Investments The Charity has a fixed asset investment in Acrute Limited (UK registered company No. 5687989) - 100% owned. The trade of the company was transferred to the Charity several years ago and the subsidiary has been dormant ever since. The company was struck off the register at Companie5 House and the nett assets transferred to the charity. 2024 2023 Cost At 31 March 2024 and at 31 March 2023 Analysis of investment in Subsidiary undertaking 2024 2023 Shares in group undertaking Acrute Ltd 2024 2023 Aggregate capital and reserves Acrute Ltd 1,804 Profitl11055) for the year Acrute Ltd 16. Trustee emoluments & related party transactions The trustees received no remuneration for their services to the Charity. The trustee5 recelved no reimbursed expenses for their duties as a Director/Trustee. Indemnity insurance is provided for trustees as part of our combined business insurance policy. No trustee or other person related to the Charity had any personal interest in any contract or transaction entered into by the Charity during the year (2023 - £ nil). No trustee made any donations during the year as part of our fundraising efforts12023 £270). -33-
AGE UK RICHMOND UPON THAMES Notes to the Financial Statements Year ended 31 March 2024 17. Debtors The Group 2023 The Charity 2024 2024 2023 Trade debtor5 Amounts owed by group undertakings Prepayments & accrued income Deferred costs 462,593 38,553 87,117 85,731 700 46,954 137,570 72,721 700 147,840 72,721 139,723 611,133 250,997 173,548 257,245 18. Creditors: amounts falling due within one year The Group 2023 The Charity 2024 2024 2023 Trade creditors Amounts owed to group undertakings Taxation and social security Deferred income Accruals & other creditors 221,391 213,802 54,738 58,416 11,976 128,650 159,164 63,262 75,191 439,495 251,401 20,434 131,276 193,898 21,264 108,476 166,646 987.478 559.410 412,944 359,648 Analysis of movement of deferred Income Balance at 1 April 2023 Balance at 31 March 2024 Receipts Utilised Better Care Fund Age UK National Barnes Workhouse Fund London Borough Richmond Upon Thames The GC Gibson Charitable Trust Emanuel H05Pltal Foundation Richmond Parish Lands Hampton Fund 64,000 18,337 7,701 14,688 215,018 78,253 15,400 1,684,945 4,000 12,500 45,480 75,200 (188,018) {103,769) 115,4001 {1,396,8991 14,000) 112,5001 123,0401 178,9501 91,000 17.179) 7,701 302,734 22,440 3,750 The Chority London Borough Richmond Upon Thames The Group 108,476 22,800 2,130,796 83,782 11,822,576) {83,7821 416,696 22,800 131,276 2,214,578 11,906,358) 439,496 -34-
AGE UK RICHMOND UPON THAMES Notes to the Financial Statements Year ended 31 March 2024 19. Analysis of movement in unrestricted income funds Unrestricted funds are available to spend on activitie5 that further any of the purposes of the Charity. The Group The Charity 2023 2024 2024 2023 Balance at 1 April 2023 Income Expenditure Transfers 722,184 571,162 1388,890) 15,605) 617,071 485.858 {376,150) {4,595) 652,772 640,574 1440,231) 15.605) 528,569 574,360 {445,562) 14,595) Balance at 31 March 2024 898,851 722,184 847,510 652,772 20. Analysis of movement in restricted income funds - the Group Restricted funds are donations or grants which the donor has specified are to be solely used for a particular area of the Charity's work or for a specific project being undertaken by the Charity. The Charity has the following restricted funds. Information, advice & advocacy: This fund is for our work w7th older people who need information, advice and advocacy assistance including benefits and recovery from health issues. Community services: This fund is for the work of outreach and operating our social centres for older people in Richmond upon Thames. Handyperson Scheme: This fund is for the work in providing handyperson services available to older, disabled or vulnerable residents of Richmond upon Thames. Nightingale project: This fund provides support to older people resident in RTchmond upon Thames following discharge from hospital. Balance at 1 April 2023 Balance at 31 March 2024 Income Expenditure Transfers Information & adwce Nightingale Project Community services Help at home services 171,456 188,018 1,325,071 91,992 (175,9471 {188,0181 (1,322,131) 196,046) 4,491 12,940) 4,054 1,776,537 (1,782,142) 5,605 Deficiencies on various restricted funds has been made good from unrestricted funds where the restricted fund have overspent during the year. -35-
AGE UK RICHMQND UPQN THAME5 Note5 to the Financial Statement5 Year ended 31 March 2024 21. Analy51s of movement in restricted income funds - the Charity Balance at 1 April 2023 Balance at 31 March 2024 Income Expenditure Transfers Information & advice Nightingale Project Community services Help at home services 171,456 188,018 130,785 14,750 (175,9471 {188,0181 1104,085) 114,7501 4,491 12,9401 23,760 l.W ILI 22.Fund5 di5per5ed a5 an Agent The Charity acts on behalf of two charities. Richmond Parish Lands Charity (RPLC) & The Richmond Charities in making small grant5 to individuals resident in the borough who are in need, suffering hardship or distress. The Charity holds these monies as agent for the two charities. During the year £13,000 (2023 - £3,000) was received from The Richmond Charities and £2,700 12023 - £8,000) was received from RPLC and £14,965 (2023 - £8,598) was paid out to 66 (2023 - 581 individuals with no grant exceeding £300. These grant5 do not pass through the Statement of Financial Activities. At 31 March 2024 £8,15312023 £2,318) was held on behalf of The Richmond Charities and £3.228 {2023 - £8,328) was held on behalf of RPLC. 23. Analysis of net assets between funds Tangible fixed assets Net current assets Investments Total Unrestricted income funds.. General Funds 15,313 883,538 898,851 Total Funds 15,313 883,538 898,851 -36-
AGE UK RICHMOND UPON THAMES Notes to the Flnancial Statements Year ended 31 March 2024 24. Consolidated statement of financial activities - prior year Unrestricted Restricted Funds Funds Total Funds 2023 Total Funds 2022 Income Donations and memberships Commercial trading activities Income from charitable activities Investment income Other income 48,763 54,501 265,411 1,455 17,966 48,763 54,501 1,804,235 1,455 17,966 43,404 57,791 1,990,755 5,715 1,538,824 Total Income 388,096 1,538,824 1,926,920 2,097,665 Expenditure Raising funds Commeraal trading activities Expenditure on charitable activities 11,788) {65,590) 1248.618) 11,572,324) 11 ,788) 13,234) 165,590) 170,0641 {1,820,9421 (1,919,254) Total Expenditure Net income / (expenditure) for the year Transfers between funds (315,9961 11,572,324) 72,100 {33,500) {1.888,3201 {1,992,5521 38,600 105,113 133,5001 33,500 Net movement in funds for the year Reconciliation of funds Total funds brought forward 38,600 38,600 105,113 578,471 722,184 617,071 Total funds carried forward 617,071 760,784 722,184 -37-
AGE UK RICHMOND UPON THAMES Notes to the Financial Statements Year ended 31 March 2024 25. Analysis of movement in unrestricted income funds - prior year Unrestricted funds are available to spend on activities that further any of the purposes of the Charity. The Group The Charity 2022 2023 2023 2022 Balance at 1 April 2022 Income Expenditure Transfers 617,071 578,471 388,096 (315,996) 133,5001 528,569 491,700 474,865 {404,4961 (33,500) Balance at 31 March 2023 617,071 617,071 528,569 528,569 26. Analysis of movement in restricted incorne funds - the Group prior year Balance at 1 April 2022 Balance at 31 March 2023 Income Expenditure Transfers Information & advice Nightingale Project Community 5erwces Help at home services 149,533 101,610 1,203,221 84,460 1162,8921 (101,9311 11,220,704) {86,797) 13,359 321 17,483 2,337 1,538,824 {1,572,3241 33,500 27. Analysis of movement in restricted incorne funds - the Charity prior year Balance at 1 April 2022 Balance at 31 March 2023 Income Expenditure Transfers Information & adwce Nightingale Project Community services Help at home services 149,533 101,610 75,333 15,000 (162,8921 {101,931) (93,493) {15,000) 13,359 321 18,160 341,476 1373,3161 31.840 -38-
AGE UK RICHMOND UPON THAMES Notes to the Financial Statements Year ended 31 March 2024 28. Analysis of net assets between funds - prior year Tangible fixed assets Net current assets Investments Total Restricted income funds.. Community services Unrestricted income funds: General Funds 722.182 722.184 Total Funds 722,182 722.184 29. Commitments under operating leases Minimum lease payments under non-cancellable operating leases for each of the following periods: The Group 2023 The Charity 2024 2024 2023 Within one year Between two to five years 74,143 37,368 111,511 73,977 101.428 175,405 10,083 9,917 10,083 9,917 Other financial commitments as follows: The Group 2024 2023 The Charity 2024 2023 Within one year Between two to five years 23,975 13,985 37,960 23,975 37,960 61,935 Obligations under both the lease payment5 and other financial commitments commenced on l November 2019 and expire on 31 October 2035, although there are break clauses linked to the Community Independent Living Contract ICiLSI with the CoLJncil. See note 12 for operating lease payments recognised as an expense in the year. -39-