Company Registration No. 04175500 (England and Wales) Charity Registration No. 1085875 AGE UK SUTTON A COMPANY LIMITED BY GUARANTEE AUDITED REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 CONTENTS Page Report of the Board of Truslees 1 to13 Independent Auditorfs Report 14to17 statement of Finanoal Activitie5 18 Balan￿ Sheet 19 Statement of Charity Cash Flow 20 Notes to the Financial Statements 21to40 AGE UK su￿ON REPORT OFTHE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The Directors present their report together with the financial statements for the year ended 31 March 2024. The financial statements have been prepared in accordance with °Ace￿nting and Reporting by Charities: Statement of Recommended Practice. (SORP). and in accordan￿ with the 'Financial Reporting Standard applicable in the UK and Republic of Ireland. (FRS 102) (effeclive 1 January 2019). Reference and Administration Deta51s of the Charlty. Its Trustees and Advisors Trustees= The Trustees, who are also directors of the Company and who have held Offi￿ during part or all of the year 2023-2024 andlor up to the date this report is signed are: Janet Samuel (Chair) Kumar Ghosh (freasurer and Chair of Finan￿ Risk and Audit Committee) (Resigned 8 November 2023) rim Howe (Vice Chair) Chrisha Alagaratnam (Chair of Quality Committee) Fidelma Hatton (Chair of Fundraising and Enterprise Committee) Zoe Lelliott Andy Cachaldora (Appointed 9 August 2023) Fiona Moore (Treasurer and Chair of Finan￿ Risk and Audit Committee) (Appointed 8th November 2023) Chief Executive and Company Secretary: Nicola Upton (to 5 July 2023> Interim Chief Executive Lin Gillians (6 July 2023 - 23 December 2023) Company Secretary: Simon Morley (6 July 2023 - 71h February 2024 Hilary Dodd (7 February 2024 - present) Also (Actin9 Chief Executive January 2024 - September 2024) Chief Executive Officer Peter Glass (2 September 2024 - present). Appointed June 2024. Charity No: Company No: Reglstered Office: 1085875 04175500 Sutton Gate. 1 CaTshalton Road. Sutton. Surrey SM14LE Audltor: M(Mxe (Sovth) LLP. Suite 3, Second Floor, Friary Court. 13-21 High Street. Guildford, Surrey GU13DG Bankers: Lloyds BanK Blackheath Branch, Blackheath, London SE3 9LH Investment Managers: Brewin Dolphin, 12 Smithfield Street, London, EC1A 9BD AGE UK surroN REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Icontd... Structure Governance and Management Age UK Sutton (AUKS) is a local charity supporiing older people in the London Borough of Sutton. As a local 'Brand Partner. of the national Age UK charity. AUKS operates independenlly. raising ts own funds and delivering services to meet local needs, pursuing its mi5SlOtF to make Sutton a more Age Friendly Place. As a 'Brand Partnerf of Age UK. Age UK sutt￿ receives a small level of financial and administrative support from the national charity. and is required to m8et Certain ￿nditions. parlicularly regar(ling branding. websit8 structure, and the delivery of an infomiation and advice service. Other decisions on delivery and developrnent are made locally. aGcording to Age UK Sutton's own Memorandum and Articles of Association and strategic pbiorities. The Trustees confinn that they have referred to the guidance contsined In the Charity Commission's general guidance on public benefit when reviewing the chatity's aims and objectives. in planning future activibes and setting strategiG pricxities for Ihe fulure. Nicola Upton. Chief Executive Officer. left Age UK Sutton at the beginning of July 2023. The Board of Trustees opted to appoint an interitn CEO. Lin Gillians, to offer a fresh perspective on the organisation and future planning. Hilary Dodd. Chief Operating Officer. was appointed as Acting CEO whilst we conduct a rigorous recruitinent campaign for a new permanent CEO for Age UK Sutton. Peter Glass was appointed in June 2024 and took up post on 2 Seplember 2024. Governing document Age UK Sutton's goveming documènt is the Memorandum and Articles of Assouation. which was last reviewed and approved by the Charity Commission in January 2023. Age UK Sutton is a registered tharity inc(Yporated as a company limited by guarantee. structure and decision making The Board of Trustees meets at least four times a year and is responsible for goveming the affairs of AUKS. Three committees have delegated responsibilty foT S(XUtiny and oversight of key strategic areas. and report into the Board via Cornmittee Chair briefings at Board meetings and exception reporting. and through Tegular discussion with the Chair. The Finance, Risk and Audit Committee ￿portS on all areas of risk. both financial and non-financial, which could threaten the viability, ￿putatiOn, or operats'onal efficiency of AUKS. The Fundraising and Enterprise Committee steers fundraising and enterprise strategy and perfO￿anCe. and the Quality Committee oversees qu81ty ofservice delivery. perfonnanc8 against commissioned service contracts, employee experien￿ and volunteering. All of the committees rneet four times a year. with occasional additional meetings if required. Trustees engage with strategic projects as required. for example by participating in working groups, advislng on discTete work programmes, and providing expertise to assisl the executive team in decision-making where their wofessional skills are relevant. Th8 Board agrees the broad strategy and direction of the charity to ensure the organisation fulfils its objectives. It takes overall responsibility for ensurtng that the finanaal. legal. and contractual obligations of th8 charity are met and ihal there are satisfactory systems and controls in pla￿ to ensure quality. continuous improvemenL and regular engagement of our stskeholders. AGE UK surroN REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 lcontd... structure Governance and Management Icontd... The CEO and Chair maintain regular contact tn order to disCUSS Strategy and communication. and to ensure that the Board is fully advised of any major achievements. incidents. or risks 8nd issues in 'real time.. Day to day decislon maktng is delegated to the Chief Executive. who delegates specific responsibilities to the Senior Leadership Team. and other managers as appropriate. The Board rec8ives regular qualty, performance. and finance reporls from the ExerJJlive. Ag8 UK Sutton's Board of Trustees and the Senior Leadership Team work dosely together to deliver the strategic aims of the charity. A Scheme of Delegation sets out roles and responsibilities for decision making. Age UK Sutton is comrnitted to developing the impact of our Board through development and learning. building on the stretvjths and expertise of all board members. Trustees (Directors) ar8 elected by the Board to serve a tem] of three years and can stand for re- eleciton for up lo iwo fvrther ternis of three years each. In the circumstances that a Trustee is appointed Char and is in their final terni as Trustee then. providing the Trustees agree. the final t8rm may be extended by the Trustees beyond the three years to pem]it that Trustee to complete their term as Chair. All Trustees give their time voluntarity and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 11 to the accounts. Trustee Gandidates are selected vwa a riprous process involving advertising andlor use of a recruitrnent speaalist. interview and references. and all Trustees are elected by the Board. Following appoinknent. Trustees undergo an induction programme and all Trustees attend training, briefings. and meetings to support their development and that of the charity. Pay and Remuneration Pay and remunerati(￿ are reviewed annually by the Pay Colntnittee which meets in July and whos8 membership indudes the Chair. Vice Chair. Treasurer and CEO. The Pay Committee considers proposals for pay review and makes a recommendation to the Board, who Ihen review and approve recommendations. The CEO'S pay and remuneration is detemined by a closed session of the Pay Commtttee and approved at a closed Board session. There is a pay policy setting out how pay is reviewed and benchmarked. Individual pay may be reviewed ouiside of the annual cycle by exception, for example if there is a significant change in role or responsibilities. Objectlves and Activities for Public Benefit Th8 Objects for whith the Charity (the "ObJ"ects°) is established and to which it is restricted are to promote Ihe following purposes for the benefit of the public andlor older people in and around Ihe London Borough Sutton (The area of benefft.): preventing or relieving th8 poverty of okler people: advancing educalN)n; preventing or relieving sickness. disease or suff&ing in older people (whelher 8motional. mental or physical). proffloting equalty and diver%ty: ptornoting the human rights of older people in ar*#)rdan￿ V*ryth the Universal Declaration of Human Rights: assisting older pe¢wle in need ty reason of ill-health. disability. financial hardship, social exdusion or other disadvantage- and AGE UK surroN REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Icontd... Objectives and Activities tor Publlc Benefit ILX)ntd... suth other charitable purposes for the benefit of older people as the Trustees may from time to time decide. The outcome of this being Ihe promotion of the well-being of older people. In 2023-2024. Age UK Sutton delivered a wide range of services and influencing activity. wth much of this activity being delivered in partnership. The primary offer included: Delivering commissioned and grant funded service to provide support to the public induding: Delivery of target8d. independent inforniation and advice on a drop in. community provision and appoinlment basis which offers support on a wide range of topics including wellbeing, rights, finanual matters. housing. and products and services. and support with benefit applications. appeals and c(￿suMer issues- DeliverirKJ. as part of a consortium of 7 Local charities. the flagship 'Together for Sutton. Inforfnation. Advtce. Support and Advocacy service, ￿)MInIssIOned by London Borough of Sutton. which offers joined up SUPPLYt to the public through a pathership of expert providers- 'Help at Home. including day lo day support. cleaning and shopping. Lx)rnpanionship. light meal preparation. and medication prompb"ng: Support to those leaving hospital or experien¢ing ill health with the aim of improving health outcomes and reducing readmtssionlfurther heallh issues. Support to people living with dementia and their carers. through provision of monthly wellbeing peer support groups across Ihe borough- Delrvery of commissioned servicès to provide support to older people with improving their wellbeing, and who are experiencing mental health conditions. Age UK Sutton is a partner in the awar(I winning 'Sutton Uplift. mental health and wellbeing partnership. and is the lead delivery partner for older people in a national Mental Health Transfornation pilot pn)gramme which offers peer4ed support for people eX￿￿encIng severe or enduring mental health conditions. to individuals and groups", Support to connect with other people through One40￿ne connections. SUPPDrt8d groups 2nd activities. and Age UK Sutton's wider work to enable older people to access local provision better. Ihrough the charivs 'Lets Connect, programme. the PTin(ipal funder for which is the National Lottery Community fund. Providing opportunities to volunteer. benefiting Age UK Sutton's activities. and providing work experience, opportunities to use and leam new skills. and soctal connection to adults of all ages in our community. Adivity that promotes civic engagement and influences decision makers. induding enabling old8r people to participate in consultation. delivering engagement events, and participating in national campaigns and influencing. Representation of older people's interests. and of the charity and COTnmunity gioups of Sutton. in strategic fDrums including lh8 Integrat8d Place Board. Sution's Systems Leadership Group. and the Local Safeguarding Board. Durtng the 2023-24 year, the Cost-of-Living crisis continued to have a major impact on the lives of our beneficiaries as well Ihose of staff and a negative ￿$t impact on the delivery of our services. The level of demand has not increased as much as in 2022-23, Ihis remains high viith a high number of peopl8 se8king support. espeoally with finance and housing issues. and a general trend that challenges are more complicated and entrenched. AGE UKSUThON REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Icontd... Objectives and Activitios for Public Benefit Icontd... Demand lor Age UK Sutton services is consislentty higher than found at periods prior lo th8 Cost-of- Living Crisis as well as the Covid pandemic. At the same time. the recourse for remedy, foT example saving money on energy bills or negotiating housing costs. has become MO￿ difficult. A significant minority of the people who seek our support can be helped with short term solutions such as cost of living grants and govemment energy payments. However. there are few longer-temi solutions available. leading to people finding IheTVTselves trapped in a cycle of tTeed and short-tefm supporL Age UK Sutton is working hard to address the immediate needs of local older people, and lo raise awareness Df the ongoing, longer term and emerging challenges faced in tmjr (x>mmunity. Lasting answers are some way off. and so our ServI￿S remain stretched. and our influencing role is becoming Increasing￿ importanl. To mitigate the impact of more people V+ryth higheT needs asking Age UK Sutton for help the charity continues to innovale to reach more people. We continue to use our'self help guides lo assisl people with the application prO￿sS for certain benefts. and have plans to develop rnore guides. and to pilot events and clinics to assist more people to'self help with expert assistance. We have also introduced a Welcotne and Infonnalion team which uses volunteers to support the Welcome and Inforfflation Officer to triage enquiries into Ihe Communty Support, and Age UK office. who are then able to respond quickly to enquiries. support people with simple infoTTnation and signposting or sdledule beneficiaries to be supported by for more involved sUpp￿t. Age UK Sutton continues to work to manage Ihe rising demand for suppori. driven by the issues set out above. and also because other services. induding some ststutory services, are either dosing, or limiting access due to their own capaciiy. The leadership team is working dosely with the wider system in Sutton to analyse and consider solutions to these systemic challenges, and to consider how best the organisation can respond to demand within limited resources. Age UK Sutton is proud to play a part in finding answers and influencing others, as a consistent expert voice on the needs of older people within the community. and the opporiunities in the system. Age UK Sutton's Key Perfomiance Indicators {KPls) for the year 2023-2024 As in the previous year, due to the demand generated through the Cost-of-Living crisis, year-long KPIS w8re not set. as it was recognised that needs continuèd to change and evolve. However, focus on agreed strategic priorities was maintained, w5th regular Board and Committee meetings serving to monitor progress. Tha tsble below represents priorities that continued from 2022-2023 into 2023-2024.. Perforniance Indicators Yoof populatson aged 75+ reached 2022- 2023 t 1.9°/6 (1. 768) 2023-2024 Commentary 9.11° (1.508) Some clients are not asked thtsryrage. usually because the caller wishes to remain anonymous or declines a request for demographic information. so Ihis figure is a minimum. The number of older people in Sutton is increasing as a proportion of the older adult population. whith is higher than the London average. The local Council has Fwvided data around analysis of the data arising from the Census in 2011 and has just launched the latest Strategic Needs Assessrnent. The Sutton over 75 population is currently 16.550 {7.89YD of the Sutton ulation AGE UK SUThON REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Icontd... Objectlves and Actlvltles for Publlc Beneflt Icontd... Performance Indicators Total number of unique individuals provided with support 2022- 2023 4, 144 2023-2024 Commentary 3,236 have seen a decline in the overall numbers of people being supported by Age UK Sutton from the p￿VIouS peak of 4,144 in 2022-23. However, we are noticing that the level of need from the clients accessing our services remains high. 46Yo (1.499) of the clients supported this year were new to Age UK Sutton (i.e. had not ￿e1Ved support prior to this year) which indicates that Age UK Sutton is a trusted provider of support, and for those that need it, people teel confident to come back to us in times of need. Our reuuitment of volunteers had remained consistent throughout the year. We have had some leavers, but we have replaced those with new volunteers working with Age UK Sutton for the delivery of our sen11￿$ across the Community Support team, the Let's Connect programme and our Home from Hospital service. This number records the number of volunteers active at an point durin the ear. These outcomes are a result of income maximisation work (assisting older people to secure benefit entitlements and save money e.g. on bills). The cost of Irving crisis and energy price fixing, which did stabilise during the year. has meant that a major previous source of gains. saving money on energy bills, is no longer available to Ihe majority of people. Support was provided by Age UK Sutton for 208 unique individuals. an average annual income improvement of £5,352 er erson su orted in this wa Totsl number of volunteers deployed 66 66 Financial gains outcomes secured for older people £1.580m £1.113m Financial Performance indicators Total Income Total expenditure KPI (2023- 2024 2023-2024 2022-2023 resuSt for com arison £1,588,258 £1,534,620 Commentsry £1,327,613 £1,443.160 £1.364.613 £1.449,463 Financial Surplusl (Deficit) (£115.547) (£66,071) £26,457 The financial result for the year ending 31st March 2024 was a deficit of £66k against a budgeted deficit of £115.8k. £102.1k of income recognised in 2022- 2023, was used in 2023-2024. An unrealised investment gain of £18.8k was re orted. Enterprise achieved 98Yo of 2023124 income budget The budget had been set as a challenging but real￿tiC target based on the focused development work and market recovery. Year on ear rowth of 6.30/0 was achieved. Enterprise Revenue £394.760 £386.165 £363.351 AGE UK surroN REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Icontd... Objectives and Activit185 for Public Benefit Icx)ntd... Financial Performance indlcators Enterprise Coniribution KPI (2023- 2024 2023-2024 2022-2023 result for comparison £30.881 Commentary £15,189 £30,371 The Enterprise Contribulion was 7.8¥0 a significanl positive variance to the 3.85 % budgeted. This reftected the evolution of the operating model and the number of people accessing the service being 265. with hours increasing to 17.078 delivered in the ear. New Grant Income r05S Minimum monthly cash balance £377.035 £327,149 £96.681 Mainlain a minimum cash balance of £100.000 £1￿),￿)0 or above maintsined £100.000 or above maintained Performance against budget was favourable with carefiJl moniloring ensuring positive perfoffliance. accurate forecasting. control of r2shfh)w. and thorou￿ expenditur8 analysis. Many activities of Age UK Sutton couhj not be deltvered without the support of voluntears. Ouring 2023-2024 a total of 66 volunteers supported the charity. Volunteer actimty included servFce delivery. supporting older people to build confidence and make new social connections. help at events. assisting with evaluation and fvndraising. and office support suth as administration and reception. During 2023-2024 we started the application process for gaining the Investors in Volunteering Accréditation. with the ambilion that we achieve this status during 2024. No cost has been apportioned in respect of the time given by our volunteers in accordance with the SORP. Achlevement and Perfomjance Over the course of the year 2023-2024. Age UK Sution directty delivered a service to 3,236 unique individual people (2022- 2023= 4,144). Of these 3.236 unique individuals. 2.082 w8re supported by Age UK Sutton's core servi￿. Community Support. From there theywere supported with infomiation, advice. or casewotk. and or connected to other Age UK Sutton services andlor other providèrs that met their needs and priortlies. Although demand has remained ¢i)n5i5tently high since Covid. and at a level much higher than pre-covid times. demand during 2023-24 has declined from the previous peak of 2022-23. However. the demand during this year is still higher than our planned staff capacity to support wth all teams reaching their higher levels of demand for support for numbers of clients being supported. many of which present to Age UK Sution wilh increasingly complex issues and lives. Additionally. the need being fa￿d reflects the growing challenges in our communities driven by the cost-of4iving crisis, and Ihe ¢orreswnding reduclion in availability of other support Service, both charitable and statutory. Age UK Sution continues to respond to the huge challenges presented by the crisis by working to become more efficient. enabling self-help when possible, and utilising the strengths of (Njr staff, vdunteers. and networks effeclively. Of the beneficiaries supported by Ag8 UK Sutton: 1.508 of these people were over 75 years old (2022 - 2023: 1,768). This represents 7.89 OA of all local residents over the age of 75. 34Y. (1.117) of AUKS clients lived alone (2022-2023: 33%). 26,213 client contacls were made (either direct to ctient or to 3rd parties in follow up)- (2022- 2023: 30.103). A contact is a single incident of contact in person. by telephone, or by another method e.g. email or letter. AGE UK surroN REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Icontd... Achlevement and Performance Icontd... 3.IM4 contacts were through a home or face to face visit (2022-2023: 3,202). Cjue to staff capacity for offering home visits, we have increased the number of fa￿ tr) face visits through drop in or in the office. Our staff intelligence indicales that contact our one to one contact time (either at home or in the office) tends to take longer, as c1￿umStanceS for individuals seeking support are becoming more complex. entrenched, and challenging to solve. Age UK Sutton is undertaking initiatives to develop deeper insight inlo pattems of activity rating to different support needs and collecting information to provide a deeper understanding of our clients, needs and wishes. as well as Iheir preferences around ￿mMunication. health. and wellbeing. 1.499 (46 Y.) of Ihe people supported by Age UK Sutton were new to Age UK Sutton's servicès and activities. The charity supported 208 older pecyle in Sutton to secure £1,113,318 (2022-2023): £1.579,904} in new income and savings: an average of £5.352 per individual. through helping people to claim the benefits to which they were entitled andlor to implement cost savings. New activity in 2023-2024 There we are few new services offered by Age UK Sutton which cornplemented Se￿iceS already being delivered. Crisis Outreach Work: As part of our Together for Sutton programme (with funding from the GLA). Age UK Sutton was offered more funding to develop an outreach role to work with marginalised harder to reach communities that may b818ss likely to access tradilional means of support. and therefore were more disadvantaged. This worked on the basis of advice delivered on the Toad. where the adviser went into communities to make connections and to meet wilh the marginalised groups, and then offered follow up for to face appointments to delivery Information and Advice. Frailty Support Service: Age UK Sutton received furKling from Ihe South West London Integrat8d Care Board Innovation Fund to deliver a pilot programm8 for 1-year (finishing July 2024) to offer support to those living with frailty who may struggle to access advice delivered in traditional manner. This Servi￿ is delivered in the main through home visits. It supports those wtth frailty by giving advi￿ on improving their health and care options. accessing income maximisation and finatTcial wellbeing admce. and enables clients to access social. practical, and emotbonal support in order to improve Iheir Independen￿ and wellbeing. Summary of 2023- 2024 2023-2024 was a year where all the seNic8s became more established in their delivery. This was a year primarily of development and consolidation of existing services. with AUKS seeking synergies acr05s all services within the porttolio - we are proud that we are continuing to provide trusted and high-quality services, and to promote the voice of older people across the borough. The Trustees wish to take this opportunity to thank all of our partners and supporiers, staff, and volunteers. without whom achiemng our Mission to make Sutton a more Age Friendly Place would be impossible to progress. AGE UK surtON REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Icontd... Plans for Future Periods Adaptlng to servlce changes 2024-25 will see changes made to a couple of the core health services delivered by Age UK Sutton. The South West London Integrated Care Board (SWL ICB) advised during 2023-24 that due to severe financial pressures and a full range contract review that the Home from Hospitsl service would be renewed for 1-year but a much reduced budget and lower delivery KPI'S. This Servi￿ will undergo transition to the new service delivery mcxjel through the year. Additionally, and as part of the contract review. Ihe SWL ICB and London Borough of Sutton ag￿ed to review their communty Dements"a Serrfices and awarded Age UK Sutton with an award to deliver Dementia Advice services alongside the Dementia peer 5UPPOrt seTvice. This one-year programme will run alongside 3 full review of the Sutton dementia stralegy which will identify how dementia semces will be defined in the future (2025 onwards) Strategy. Business Plan and Budget Following the work started in 2021 with the launth of the >year Integrated Business Plan. work progressed in line with the plan outlined during the year. wlh an action plan defined and delivered during the year. A summarised Strategy Stalement has been developed out of the Integrated BusTness Plan in order lo ensuie the >year strategy is clearly articulated. A detailed year two plan was put in place for 2023-2024 with delegated responsibility assigned to department leaders. This plan has been reviewed with Complian￿ reported bad( io trustees. This Is informing the development of the 2024-2025 Annual Plan. wilh aclions and priorittes being cascaded through to all department ￿ds. 2024-2025 will be the last year of this strategy and Ihe incoming CEO will be tasked with refreshing this during the financial yeaT. Age UK Sutton continues to work to a principle of ￿verS1fied income. with investrnent being made to develop the social and financial impact of our Help at Home enterprise and CDntinuing to secure grant funding from trusts and foundations. With the Suc￿sS in grant fijndraising in re￿nt years, stewardship has become a greaterfLKus. to ensure that longer term relationships can be forged where possible. Careful planning of the fundraising pipeline is being ￿rated in order to effectively plan grant fundraising and timings of application lo grant making bodies to manage peaks and troughs of income generation over a longer period (3 years). stralegic relationships with commissioning ly)dies are carefulty managed, with Age UK Sutton retaining and develi)ping its position as a slrategic partner and advisor. as well as a provider. However. this area and awarding of commFssions is likely to become increasingly challenging in the difficult statutory funding environmenL The Truslees have agreed a budget for Ihe year which Tellects a focus on enterpris8 growth and d8V8lopmant. and a conservative maintenance level of new grant income. reflectÉng the increasingly competitive landscape for grant fundraising. The Board has agreed a focus on fAJntinued consolidation and strengthening of core service5 to meel local need. We continue to monitor and plan ahead to maximise fijnding opportunities to secure our financial sustainability so we can provide services that best meet the needs of our beneficiaries. AGE UK su￿ON REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Icontd... Influencing and Representatlon Age UK Sutton is proud to be regarded as an effective and influential partner within Sutton including with the voluntary sector. health. and social care. The support and collaboration of our partners is invaluable, and we look forward to continuing to develop and evolve these relationships in the best interests of local older people. We are committed to ensuring that older people's needs are championed, and their voices heard in planning and decision making. dismantling stereotypes and challenging inequalities. We consider ourselves fortunate to operate in a system that shares these values and is open to dialogue about improvement and change. Equity. Diversity and Inclusion Age UK Sutton is committed to serving all older people who live in our community. As part of AUKS 2022-2025 Integrated Business Plan. fvrther embedding and continuously promoting Equity, Diversity, and Inclusion across sep11￿ delivery. employmen( volunteering and influencing practice is a business priority. Our services are for the benefit of older people irrespective of gender, marilal status. ethnic background, disability, sexual orientation. cultu￿. politics or religious belief. Some of our seNices may be targeted at particular sections of the older population within Sutton in order to address particular identified n￿dS or cOn￿ms. for example the Lung Health programme was targeted at a specific age range based on NHS England data regarding risk, and the Mental Health transformation programme is targeted to adults under 75, as it is part of a iarger, age strab'fied mental health servi￿5 structure. Financial Review The financial statements cover the activities of Age UK Sutton for the year ended 31 March 2024. The incoming resources for the year amounted to £1,364.613 (2022-2023: £1,588,258), Budget £1.327.613. The key factor explaining the Varian￿ to budget was an unbudgeted commission project. Expenditure for the year amounted to £1N49,463 {2022-2023: £1.534.620} compared to a budgeted expenditure of £1.443.160. The key factor explaining the variance to budget related to recruilment gaps. This resulted in an expenditure ex￿edIng income by £66,071 (2022-2023 surplus of £26,457 budget deficit £115.547). The result contains an unrealised gain on investments of £18.778 (2022123 unrealised loss £27,290). In 2023124 income of £102.100 ￿cOgnised in 2022r23 was utilised. The deficit was £49.467 less than budgeted, Income was £37,000 above budget whilst expenditure was £6,303 below budget. Fundraising and Income Generatlon The Trustees. priority is to continue to secure income, with a focus on supportj'ng consolidation and development of core services to meel demarKI in the first half of the year. There is a particular focus on ensuring a greater proportion of income raised is from unrestricted sources. Sources include grants, sponsorship. commissions, legacies, donations, community events. and regular giving. Investrnent is continuing to be made in developing Age UK Sutton's social enterprise, Help at Home, which provides important social and practical support at affordable pnces, as well as generating unrestricted income for the charity. 10 AGE UK SUThON REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Icontd... Reserves and Investrnents The Twstees have agreed a framework for determining the minimum level of reserves considered necessary to safeguard the Charity's solvency. The calculation is based upon a rtsk assessment of the Charity's finan(xal positi￿ and outlook. considering 8dditional costs and liabilities associated with the unlikely event of winding down the Charity's activities. The Twstees have determined that the Charity should hold a minimum level of general unrestrtcted reserves of 34 months operating costs on the basis that this would. in Ihè worst-case scenario, cover the costs of safely closing the Charity. General unrestricted reserves at 31 March 2024 were £414.621, including £90.000 designated for the Pension Liability- Investment Policy and Porfomianco Age UK Sutton has a portfolio of investments manag8d within Brewin Dolphin 'Diversified Risk. inveslment stralegy. It seeks a sensible balance between income and capital growth, wilh a purpose of generating add￿"onal funds to sustain services and support innovation and improvement. The aim of holding funds in investrnents is to grow. over time. the value of unrestricted funds held in order to increase reseNes in line with the Charity's overall growth. and from time to time to enable investrnent of capital growlh in pik)t prc4ects. infrasttucture, and development. In the year io 31 March 2024 the portfolio retumed £5.455. Risk Management The Trustees hokl a Risk Register which is weviewed quarterty at the Finan￿, Risk and Audit Committee a￿1 presented to the Board at18ast tsvice a year. New risks are highlighted, mitigatlon5 are considered, and exception reportbng lakes place between meetings. Prinopal risks (scoring over 20 in a 5x5 likelihood and impad matrix) and mttigabons are: Risks Controls Loss of significant commissions impacting on the organisation as well as the Servi￿5. This includes Dementia (£186,000) and Home from Hospital (£127.000). These both currenuy finish at end March 2025 Both Home from Hospitsl are on 1-year contracis and will be going out to tend8r longer temi (&yeaT) contracts later this year. Mitigabons in pla￿ are ensuring good engagement with commissioners. key deadlines are met and we are aware of any decision points in the commissioning calendar. Loss of services funded through grant income. We have significant grants finishing at end December 2024 (Mercers and Henry Smith) and Th8 National Lottery Lets Connect) at end March 2025. Garfield Weston and Cty Bridge grant applications have been written inlo the 24- 25 budget. but we have not yet re￿iVed rx)nfirmation that we have been successfvl Operations staff are employed based against ServI￿S nded through grants. Focus on grant pipeline tracking grant funders and stewardship of current grants. Both gr8nt applicalions are now in and pending. No mitigating work can be done on these until we hear outcorre. Until we get confirmation of the outcome. we will xttinue to work on securing new grants to replace this budgeted income. Staff included in budget against this income will neéd to b8 reallocated to other funded work or ￿111 be made redundant. AGE UK SUThON REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Icontd... Risk Management Icontd... Risks Controls AUKS advised. during Quality of Advice Standar(l audit. that 2x pieces of advi audited had provided inc0￿eCt advice to client - idenlified as a serious incident that was to be reported to Age UK- which couhj have meant a dient did not get the full benefit claim they were entitled to. May require a claim against our Pl insuran Non-compliance against legislative and quality assUWan￿ requirements - GDPR. CQS. Safeguarding Incident logged with Age UK through their Standard pro￿dure - Ihey have advised that no further action required through olher bodies. Investigation being completed by Director of Community Services. CS team completing due diligence lo ensur8 all required actions bein9 L3ken to mitigate the siiuation - as advised by AUK. Continuous working with partner charities and lobbying health and social care parlners regarding demand management and expectation management. as large vdume of people being referred to AUKS, som8 With unrealistic expectations of what we can offer. Discussions at SMT level take place about boundaries of support we can give. Serious safe9uardin9 incident which is not effectively managed Safeguarding training f(x staff and workers provided and refreshed every year. safeguarding procedures in place and all staff trained. safeguarding questions included in recruitment. Embedded case r8vKgw process in order to provtde quarter￿ review. Investment Portfolio value may decrease OT increase. affecting overall financial positiDn and reserves level Extemal market not in our o)ntrol. Budgeting takes accounl of bestJ(nown positson at budget setting. Gonservatrve position taken relating to likely increaseldecrease in portfolio. Statement of Trustees Responsibilities The Trustees (who are also Diredor5 of Age UK Sutton for the purtK)ses 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 statemenls for each financial year. vthich give a true and fair view of the state of affairs of the tharitable company and the group and of the incoming resources and applicalion of resources. including Ihe income and expenditure. of the charitabl8 group for the year. In preparing these finan(aal statements, the Twstees are required to: select suilable acc(yJnting policies and then apply them o)nsistently: observe the methods and principles in Ihe Charities SORP (FRS102): make judgernents and eslimates that are reasonable and prudent: prepare financial stalements on the going (x)￿￿￿ basis unless it is inappropriate to presume Ihat the charitable company will COnt￿Ue in operation. 12 AGE UK SUThON REPORT OF THE BOARD OF TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Icontd... Statement of Trustees Responsibilities I contd... The Board of Trustees is responsible for keeping adequate a(xounting re(x)rds that disdose with reasonable accuracy at any lime the finanual posiiion of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Board of Trustees is also responsible for safeguarding Ihe assets of the charÉtable company and hence for taking reasonable steps for the prevention and detection of fraud and other iwularitses. Disclosure of information to the auditors We. the Directors of Ihe company who held office at Ihe date of approval of these Financial Statements as set out above each confimi, so far as we are aware. that.. there is no relevant audit inf0M￿tion of whith th& companys auditors are unaware. and we have taken all the steps that we ought to have taken as Directors in order to make ourselves aware of any relevant audit infomiation and to estsblish that the companls auditors are aware of that information. This report has been prepared in accordance wth the special pYvvi5ions of Part 15 of the Companies Act 2006 relating lo small companies. By order of the Twstees Janet Samuel (Chair) . 2024 13 AGE UK surroN INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF AGE UK sifThoN FOR THE YEAR ENDED 31 MARCH 2024 Opinion We have audited the financial statements of Age UK Sutton Limited (the 'charitable cA)mpany'l for the year ended 31 March 2024 which Statement of Financial ActNitie5 (including Income and Expenditure Account), the Balance Sheet, the Cash Flow Ststement and notes to the financial statements. induding a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United lfjngdom Accounting Standards. including FRS 102 'The Financial Reporting Standard Applicable in the UK and Republic of Ireland. (United Kingdom Generally Accepled AGcounting Practice). In our opinion the financial statements= give a true and fair view of the state of Ihe tharitable company's affairs as at 31 March 2024 and of its incorning resources and application of reSoUr￿s. including tts incc*ne and expenditure. for the year then ended,. have been properfy prepared in accordance •Aryth United Kingdom Generally Accepted A¢Gounting PracliGe,' and have been prepared in accordan￿ ￿th the requirements of the Chartties Act 2011. Basis for opinion We conducted our audit in accordanc£ with Inlernational Standards on Auditing {UK) {ISAs(UK)) and applicable law. Our responsibilib'es under those standards are further descrrbed in the Auditor's Responsibilities for the audit of the financDal statements section of our report. We are independent of the charitable company in atxordance with the ethical requirements that are relevant to our audit of the financial slatements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. W8 believe that the audit evidence wè have obtained Is sufficient and approwiate to provide a basis for our opinion. Concluslons relatlng to golng concern In auditing the financial statements. we have concluded thal the trustees. use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to 8V8nts or condttions that. individually or colleclively. may cast signtficant doubt on the charitable companvs ability to ontinue as a going concem for a peri(xl of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees wilh respect to going concem are described in the relevant sections of this rewt. Other information The other infomiation comptises the informalion included in the annual report. other than the financial ststements and our auditorfs report thereon. The trustees are responsible forthe other infomiation. Our opinion on the financial stateffletlts does nol cover the other inforniation and. except to the exient otherwise explicitly stated in our report, we do not express any fomi of assUryd￿e conclusion thereon. 14 AGE UK SUThON INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF AGE UK su￿oN FOR THE YEAR ENDED 31 MARCH 2024 Oijr responsibility is to read the other inforMat￿n and. in doing so. consider whether the other infomiation is materially inconsistent with the financial slatements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we idenlify such material inconsistencies or apparent material misstatements, we are required to deteTmine whether there is a material misstatement in the financial statements or a material misstalemenl of the other information. If. based on the wort< we have perfomied, we condude that Ihere is a material misstatement of this other information. Y￿ are required to report that facl. We have nothing to report in this regard. Matters on whlch we are required to report by exception We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you rf. in our opinion: the inforrnation gNen in the trustees. report ts inconsistent in any mat8rial respect with the financial statements. or Sufficient accounting records have not been kepL" or the financial statements are not in agreement with the accoun)'ng Tecords" or we have not received all the information and explanations we require for our audit. Responsibilities of trustees As explained more fulty in the trustees, responsibilities statement set out on page 12. the trustees {who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied ihat they give a irue and fair view, and for such intemal control as the tru5tee5 determine is necessary lo enable the preparation of financial statèments th8t are free from material misstatement, whether due to fraud or error. In preparing the financial slalements, the Injstees are responsible for assessing the charilable company's ability to continue as a going concem. disclosing. a5 applicable. matters related to going COn￿r￿ and using Ihe going conceffl basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations. or have no realistic altemative but to do so. Audltorfs responsibilities for the audlt of the financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 atid report in accordance with the Act and relevant regulabons Made or having effect trEreunder. Our objectives are to obtan reasonatAe assurance atx)ut whether the finanoal statements as a whole are free from material misstatement, wh8ther due to fraud or error. and to issue an auditorfs report that includes our opinion. Reasonable assuran￿ is a high level of assurance. but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exist5. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate. they could reasonably be 8xpected to Influen￿ the eC￿(￿niC decisions of users taken on the basis of these financial Statements. A fvrther description of four responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.or .uklauditorsres onsibilities. This description fomis part of our auditorfs report. 15 AGE UK SUThON INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF AGE UK su￿ON FOR THE YEAR ENDED 31 MARCH 2024 Auditorfs responsibllltles for the audlt of the flnancial 5tatement5 Iconld... Irregularities. induding fraud. are instan￿5 of non-compliance wlh laws and regulations. We design procedures in line wth 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 d8tai18d below. Explanation as to what extent the audlt was considered capable of detecting irregularities, including fraud The objectives of our audit in resped of fraud. are" to identrfy and asses5 the risks of material misststement of the financial statements due lo fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud. Ihrough designing and implementing appropriate responses to those assessed rtsks: and to respond appropriat81y to instances of fraud or susp8cted fraud identified during the audit. However. the primary responsibility for the prevention and detection of fraud r8sts with both management and those charged with govemancè of the tharitable c(ynpany. Our approach was as follows: The engagement pather selected staff for the audit vtho had appropriate knoYAedge and who had the required competence and skills to identity or r8cognis8 non-compliance with laws and regulations. We assessed the risk of irregularities as part of our audit planning, and ongoing review, including those due to fraud, management override was identified as a significant fraud risk. This is due to thè ability to bypass controls through inappropriate expenditure and accounting policies adopled. Completeness of grant income wa5 deemed a signfficant risk. Additionally as some income re￿iVed is restricted in its use. a significant risk was identified regarding the correct classification of income between reslricted and unrestricted funds and Ihat the expenditure against Ihi5 income was in line wilh any spe(xal restrictions. We obtsined an understanding of the legal and regulatory requirements applicable to the charitsble company and we considered the most signifi(xnt are the Companies Act 2006. the Charities Act 2011. the Charity SORP. and UK financial reporting standards as issued by the Financial Reporting Council. We (x)nsidered how th8 charitable company fA)mplies with these requirements by discussions with management and ihose charged with govemance. We enquired of management and Ihose dlarged wilh governance as to any know instances of non- compliance or suspected non-compliance with laws and regulations. Consideration was also made of the inlemal controls in plarR to mitigate Iho identified risks. We assessed the control environnienL documents.ng the systems, controls and processes adopted. The audit approach incorporated a combination of controls where appropriate. anamical review and substantive procedures involving tests of transactions and balances. Any irregularities noted were disCU￿ed wilh management and additional corroboraiive evidence was obiaineLI as requir8d. To address the risk of fraud through managemenl override Y￿. performed analytical procedures to identify any unusual or unexpected relationships" tested joumal entries to identify any unusual transactions; assessed whether judgements and assumptions made in determining the accounting estimates were indicab-ve of potential bias. and reviewed the disclosures within the financial statements to ensure they meet the requirements of ihe accounting standards and relevant legislalion. 16 AGE UK su￿ON INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF AGE UK surroN FOR THE YEAR ENDED 31 MARCH 2024 To address the risk of completeness of Incorr￿ we" performed analytical prO￿dureS to identrfy any unusual or unexpected relationships. along with comparison to budget. tested a sample of grants to supporting documentation confirming income correctly accounted for; reviewed donations and gifts r￿1Ved around the year end, ensuring cut-off correctly applied., and agreed deferred income to supporting documentation. To address the risk of classifjcation of income between restricted and unrestricted we.. agreed a sample of income recorded in the nominal ledger to source documentation to ensure any restrictions were correctly identified. agreed a sample of expenses incU￿ed to ensure that they had been allocated to the correct fund" and obtained and reviewed fund analysis workings to ensure that the calculations were correct and agreed to the accounting records. There are inherent limitations in our audit prO￿dureS described above. The more removed the laws and regulations are from the financAal statements. the less likety it is that we would become aware of non- compliance. Auditing stsndards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal corresponden￿. if any. Material misstatements that arise due to fraud can be harder to detect that those that arise from error as they may involve deliberate cOnceal￿Ent of collusion. We communicate with those charged with govemance regarding. among other matters. the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal controls that we identify during our audit Use of our report This report is made solely to the Charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters which we are required to state to them in an auditorfs report and for no other purpose. To the fvllest extent peTmitted by law, we do not accept or assume responsibility to any party other than the charitable company, the charitable company's trustees. as a body. for our audit work. for this report, or for the opinion we have formed. (SLAL) L r+Aoore (SouÉh} LLP statutory Auditor Suits 3, Second Floor Friary Court 13-21 High Street Guildford GU13DG 1£ tkcekn 904 Moore (South) LLP is eligible to act as auditor in terms of Section 1212 of the Companies Act 2006. 17 AGE UK SUThON STATEMENT OF FINANCIAL ACTMTIES FOR THE YEAR ENDED 31 MARCH 2024 (In¢luding Income and Expenditure Account) Total funds Notes Unrestricted Restricted funds funds 2024 2023 Income Donation and legacies Income from charitable activtties Investment income 6.505 764,164 5.455 1.509 586.980 8.014 1.351,144 5.455 9,232 1,574,367 4,659 Total Income 776.124 588.489 1,364,613 1.588,258 Expendlture Cost of raising furKIs Charitable activities Other 37.176 774.213 9.732 37.176 1.396.797 15.490 69.382 1.449.815 15.423 622.584 5.758 Total Expenditure 821.121 628.342 1.449.463 1.534.620 Nel unrealisedlrealised gainsl{losses) on investments 18.778 18,778 (27.290} Net (Outgoing)llncomlng Resources 10 (26.219) (39.853) (66,072) 26,348 Remea5urernent gain on defined benefit pension plan Transfers 20 109 {6.351) 6.351 Net movement in funds {32.569) (33.502) {66.071) 26.457 Reconciliation of funds Total fund5 broughl fO￿ard 439,093 105.581 544.674 518,217 Total funds carried forward 406.524 72.079 478.603 544,674 The stalement of financial aclivities includes all gains and losses re&)gnised in th8 year. All incoming resources and resources expended derive from Continuing aclivities. The noles on pages 21 to 40 fomi part of these finanual slatements. 18 AGE UK SUTTON REGISTERED NUMBER 04175500 BALANCE SHEET AS AT 31 MARCH 2024 Registered Company number- 04175500 CHARITY 2024 CHARirf 2023 Notes FIXED ASSETS Tangible assets Investments 13 14 9.344 329.771 7.256 307.008 339,115 314.264 CURRENT ASSETS Debtors Cash at bank and in hand 15 256,328 152.194 462,927 114,334 408.522 577.261 CREDITORS: Amounts falling due within one year 16 (267,130) (213.575) NET CURRENT ASSETS 141.392 363.686 cRED￿ORS. Amounts falling due after one year 17 (131.804) Dellned benefit penslon liabilty 19 (1,904) (1.472) NET ASSETS 478.603 544.674 FUNDS Untestricted Restricted 406.524 72.079 439.093 105,581 TOTAL FUNDS 478.603 544.674 For the year ended 31 March 2024 the ccffnpany was entttled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies but as Ihis company 15 a charity, it is subject to audit under the charilies Act 2011. Directors. responsibilities- The members have nol Tequired the company lo obtain an audit of its accounts for the year in question in accordance with sectton 476; The directors acknowledge their responsibifrties for [￿lp￿ang with the requirements of the Acl wtth respect to accounting records and the preparation of accounts. These financial statements have been prepa￿￿ in a￿0T￿ance with Ihe special provision relating to companies subject lo the small companies regime. The financial st8temerJts were approved and athorised for issue by the Board on ................................. 2024. Janet Samuel Chair The notes on pages 21 to 40 foTm part of these ￿ancIal statements. 19 AGE UK surroN STATEMENT OF CHARrrY CASH FLOW FOR THE YEAR ENDED 31 PdlARCH 2024 Notes 2024 2023 Cash flows from operatlng activities Net cash provided by operating activities 25 44.145 (71,623) Cash flows from investing actlvitie5 Interest r8ceived and dividends Purchase of property, plant and equipment Proceeds from sale of inveslmenls Purchase of investrnents 5.455 4.659 (7.755) 48,129 {58,945) (4.046) 67.872 {61.724) Net cash provided by l (used In) financing activities (13.116) 6,761 Change in cash and cash equivalents in the reporting pericm 31.029 (64,862) Cash and cash equivalents at the beginning of Teporbng period 130.647 195.509 Cash and Cash equivalents at the end of the reporting period 161.676 130,647 Cash 8t bank and in haml Inve5trTtents 152.194 9.482 114.334 16,313 161.676 130,647 20 AGE UK su￿aN NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1 ACCOUNTING POLICIES a. Basis of Pre aration Age UK Sution is a charilable Gompany. limited by guarantee and has no share capital. In the 8V8nt of the charity being wound up. the liabilty in r8SP8Ct of Ihe guarantee is limited to £1 per member. The company is incorporated in England & Wales. The registered address is Sutton Gate. 1 Carshalton Road. Sutton SM14LE. The nature of the charitys operations and principal activities are to promote the V￿lIbeIng of older people. Th8 charty constiiutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with the Chaiitws goveming document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable tin the UK and Republic of Ireland. {-FRS 102°) and the Charities SORP °Accounting & Reporting by Charities: Statement of Recommended Practice applicable to charities p￿paring their accounts in accordants with the Financial Reporting Standard applicable in the UK and Republic of Ireland. the Financial Reporting Standard applicable in the United Kingdom and Rewblic of Ireland (FRS 102). (effective 1 January 2019). Th8 financial statements have been prepared on the going concem basis, under the hi5totscal cost convention, modified to include certain items at fair value. The financial statements ￿ prepared in sterling whidi is the functional currency of the charity and have been rounded to the nearest pound. b. Goin Concem The financial statements have been prepared on a going concem basis as the twst88s believe that no material uncertainties exist. The trustees have considered the level of funds held and expected income and expenditure for 12 months from authorising these financial slatements. The budgeted income and expenditure is suffic¢ent Wtlh the level of reser4Yes forthe charity to be able to continue as a going COn￿M. Incomin Resources Donations and other voluntary inGome are recognised once the tharity has been notified of the donation. Grants and contracts including those for purchase of fixed assets are recognised in full in the year in whid) they are receivable. Legacies are accounted for at the earfier of: the date on which the charity is aware that probate has been granted: the estate has been finalised and nolificalion has been made by the exeGutor(s) to the charity that a distribution will be made- or when a distrtbution is made from the estate. Receipt of a legacy, in ￿th01e or part. is only considered probable when the amount can be measured reliably and the charity has been notified of the executorfs intention lo make a distribution. Where legacies have been notified to the tharity. or Ihe charity is aware of the granting of probate. and criteria for income recognti¢on have not been met. then the legacy is treated as a contingent assel and disclosed rf material. Investment incorne is accounted for in the period in which the charty is entilled to receipt. The income from user fees is recognised in the period to which it relates. Any income Te￿IVed in advance is treated as defe￿ed income. Trading income received for services provide(l is recognised in the year in whAGh it is due. The value of services provided by volunteer5 is not incorporat8d in the financial statements. Details of the contribution of volunleers can be found in the tru5tees' annual reporL 21 AGE UK SUThON NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES I contd... d. Resources E ended Expenditure is recognised on an accrual basis as a liability is incurred and includes irrecoverable VAT. Costs of raising funds comprise the costs associated with attracting voluntary income and fundraising. Charitable expenditure comprises thos8 (J)sts incurred by the charity in the delivery of its activities and serviGes for older people. Other expendriure represents those costs not falling into any other heading. e. Allocation of Su ort Costs Costs are allocated to the parknGular activity where the costs relate directly to that activity. However, the costs of overall direclion and administration ￿ each activity, is apportioned on the basis of income re￿iVed or staff time whichever gives a reasonable assessment. f. Deferred Income Where the donor irnposes (x)nditions and Ihis requires a level of wf0mlan￿ before entitlem8nl can be obtained, the income is deferred until these conditions are fully met or the fuffilment of these conditions is within the control of the charity and it is probable that they will be fulfilled. eiatin Leases Rental payable under operating leases are charged to the Statement of Financial Activilies on a straight line basis over the lease term. h. Pension Costs Contributions to the group's defin￿ contrbution pension scheme are charged to the Stslement of Finanual Aclivities in the year in which they become payable. The assets of the scheme are held separately from those of the group in an ndependentiy administered fund. Conttibutions lo The Pensions Trusfs Growlh Plan. a mulli-employer scheme are charged to th8 Statement of Financial AGlivibes in the year which they become payable and are accounted for in accordance with FRS 102. Taxation The chariiable company is exempt from Corporaiion Tax on its charitable activities. Fixed Assets All expenditure under £500 is treated as an expense in the period. Expenditure on capital purthases 15 depreciated on a straighl line basis based on the expected useful life of the item. Fixtures and fittings Computer equipment V8hid8S - 25.00% straight line 33.33¥0 Straight line - 25.00% straight line k. Inv8Stments Investments are stated at market value and all gains and losses are laken to the Statement of Financial Activities as they arise. Realised gains and losses on invesknents are calculated as the difference between proceeds of sale and cost of purchase. Unrealised gains and losses are calculated as the differen￿ befvieen the rnarket value and the year end and opening market value (or purchase date if later). Realised and unrealised gains are rKA separated in the Statement of Financial Activities. 22 AGE UKSUThON NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES I contd... Debtors Trade and other debtors are recognised at the setuement amount due. Prepayments are valued al the amount prepaid at the balance sheet date. Cash at Bank and In Hand Cash al bank and cash in hand includes cash and short term highly liquid inveslments with a short maturity of three months or le55 from the date of acquisition or openiThJ of the deposit or similar amount. n. Creditors Trade and other creditors are recognised when the charity has present obligations resulting from past events and can be measured or estimated reliably. Creditors are recognised at their settlement amounts. o. Financial Instruments The charity only has financial assets and financial liabifitl8s of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at Iran5aclion value and subsequently measured at their settlement value. p. Unrestricted Funds Unrestricted funds are donattons and other incoming Tesources receivable and income generated ID fulfil the objects of the charity without further specified purpose and are available. as general funds. for use at the discretion of the trustees. nated Funds Designated funds are unTeslricted funds assigned for a partiuJFar purpose by the board of Trustees. The aim and purpose of the designated funds are sèt out in the notes to the accounts. Restrictad Funds Restricted funcls are fijnds which are to be used (n accordance with speufic restrictions imposed by donors. Expenditure that meets these criteria is charg8d to the funds together wilh a fair allocation of managemenl and support costs. The aim and purpose of the restricted funds are Set out in the nol8S to the accounts. Jud eTnents and Estimates In the application of the charitys accounting policies. the trustees are required to make judgements. estimales and assumptions about the carying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors ihat are cA)nsidered to be relevanl. Actual results may differ from these estimates. The estimates and undertying assumptions are reviewed on an ongoing basis. Revisions to accounting estimales are recognised in th8 period which the estÉmate is revised where the revision affects only Ihat period, or in the period of the revision and future periods where the revision affects both Current and future periods. The trustees believe there are no such signifficant items. 23 AGE UK SUThON NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 2 DONATIONS AND LEGACIES Unrestricted Restrlcted Funds Funds Total 2024 Total 2023 Donations Legacies 6.505 1.509 8.014 7.083 2.149 6.505 1.509 8.014 9.232 In 2023 no donations or legacies were restrided. INCOME FROM CHARrrABLE ACTivrriES Unrestricted Restricted Fund5 Funds Total 2024 Total 2023 User Fees and Other Income Help At Home income Consultancy fees User fees and charges Client shopping recharge income 386.165 8.500 3.570 386.165 8.500 3.570 68.987 363,351 20,483 3,176 69,765 68,987 398,235 68,987 467.222 456.775 Grants and Contracts (see Note 4} 365.929 517,993 883,922 1.117,592 Total Income from Charitable Activlties 764.164 586,980 1.351.144 1.574.367 In 2023 £69.765 of dient shopping recharge income was restricted. and £14.150 consultancy fees were restricted. 24 AGE UK SUThON NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 GRANTS AND CONTRACTS 2024 Total 2023 Total Unrestricted Restrlcted LB of Sutton. _ Admce Link Partnership Sutton commission LB of Sutton - Together for Sutton Sutton CAB - Menlal Health I&A Sutton CCG" _ Home from Hospital commission Sutton GP Services- S(xial Prescribing (PCN) Imagine IndePenden￿- Sutton Uplift Commission South West London & St Georges NHS Trust- Mental Health Peer Support LB of Sutton - Dementia Peer Support TNL Community Fund- Detnentia Peer Support Guy's and Sl Thomas. NHS Foundation Trust- Lung Health Check project Age UK- Brand Partner payfnent Age UK- Building Better Lives Grant Age UK ReseNe- Cost of Living Support Age UK - Winter Health cost of living sUPPOrt Age UK l Emanual Hospital Foundation - Communty Support Age UK Tackling Inequalities Fundlsports England - Nordic Walking Citizens Advice Sutton - AdviceLink project The Henry Smith Charity Garfield Weston Foundation- Core Services The Mercers. Company National Lottery- Let'5 Connect W G Edwards Charity- Lets Dan National Lottery- Cost of Living Supp(xt Sutton CVS- Sutlon Intrastructure Fund Sir Jules Thorn Charitable Trust- Core Amold Clarke Fund Waitrose The Blakemore Foundation M J Hindley Charilab18 Trust ASDA Foundation Shanley Foundation ASDA Green Token Award Croydon Heallh SerVi￿- Winter Engagement Donor requested anonS￿lty The London Borough of Sutton- Together for Sutton Crisis Rde Help at Home Frailty Age UK- Building Better Lives Grant 10.000 79.050 11.000 242.000 155.197 109,353 12.451 109.353 12.451 242.000 242.000 41,097 41.097 39.109 69.216 69,216 56.698 66.490 41.247 9,708 56.698 65.980 10,000 30,000 40,000 2,000 10.000 10.000 32,500 1.473 6,248 60,000 30.000 27.000 135.014 1.500 60.000 60.000 25.000 146.082 25.QOO 146.082 29.330 29.330 2.500 3,000 1,000 500 100 350 1,326 2.000 500 500 10.000 1,600 1.600 10.000 10.000 25.958 25.958 3.616 35.950 5,571 3.616 35.950 5.571 365.929 517.993 883,922 1.117,592 25 AGE UK su￿ON NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 GRANTS AND CONTRACTS I contd... . LB of Sutton- London Borough of Sutton: CCG- c￿nIcal Commissioning Group" MOT- Multi-Disciplinary Team; PCN - Primary Care Network: All grants were expended for the purpose for which they were intended. Included in 2023 were reslticled grants and contracts of £684.013. No govemment grants were received in the year (2023 - £10.000). This was commission funding paid by London Borough of Sutton for delivery of contracted Information and Advice serviGes. INVESTMENT INCOME Unrostrictsd Restrlcted Totsl Total Fund5 Funds 2024 2023 Dividends 5.455 5.455 4.659 In 2023 no investment income was reStr￿ed. RAISING FUNDS Unrestrirted Restricted Funds Funds Total 2024 Total 2023 Investment managers fees Wages and Salaries Consullancy fees Olher Staff Costs Fundraising General offic6 8xpenses 1.469 17.500 13.695 229 246 4,037 1.469 17.500 13,695 229 246 4.037 1,488 45,420 17,536 75 246 4,617 37,176 37.176 69,382 In 2023 no expenses for raising funds were restricted. 26 AGE UK surroN NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 CHARITABLE EXPENDrruRE Unrestricted Restrlctèd Funds Funds Total 2024 Total 2023 Wages and salartes Staff related costs Volunteer expenses Rent & rates Legal & professional fees Communicalion & postage General office expenses Depreciation Bad debt Support Costs (note 8) Cost of Cltent shopping 614,019 27,157 134 9.217 1.518 5,970 18.160 2,057 400,131 1.014,150 1.085.150 38,928 66,085 47.918 3.683 3,817 582 29,105 38,322 45.351 2.444 3,962 21.542 5,662 11,632 11,526 23,737 41.897 38.821 2,036 4,093 3,783 2,000 123,377 69,765 95,981 47.871 68,987 143,852 68,987 T14,213 622,584 1.396,797 1.449,815 In 2023 £685.932 of charitable expenditure was restricted. SUPPORT COSTS Basis of Allocatlon Charitable Expenditure Total 2024 Wages and salaries Staff ielated costs Communications Rent & rates Cleaning & utilities Olher Depreciation Role Role Headcount Headrnunt Headcount Headcount Headcount 101.793 25.924 244 7.763 139 6.682 1.307 101,793 25.924 244 7,763 139 6,682 1,307 143.852 143.852 All support Costs are deemed to relate to charitable expenditure. 27 AGE UK surroN NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 OTHER COSTS Unrestricted Restricted Funds Funds 2024 2023 Audit f&e Accountancy Accountancy (overyunder accrued last Trustees expenses l AGM Truste& recruitment I training Pension interest 6.517 1.034 1,405 613 4.823 766 11.340 1.800 1,405 776 12 157 11.062 1,740 (222) 1,522 1,200 121 163 157 9,732 5,758 15,490 15,423 In 2023 no other w5ts were restricted. These costs are deemed to be the govemance costs of the charity. 10 NET INCOMING RESOURCES FOR THE YEAR Charity 2024 2023 This is stated after charging- Audit Auditors- non-audit services Depreciation 11,340 3.205 5.667 11.062 1.518 5.545 20.212 18.125 11 TRUSTEES AND KEY MANAGEMENT PERSONNEL REMUNERATION AND EXPENSES Trustees did not receive remuneration in the year for Iheir services. During the year 2 Trustees (2023 - 2) were reimbursed expenses of £163 (2023 - £192) in respect of travel and subsist8nce. At the year end £Nil (2023 - £Nil) was owed to the trustw. The expenses claimed are in line with the Memorandum & Articles. Key management receNed lotal remuneration of £199.362 (2023 - £218.846). Trustee Indemnity Insurance is induded wthin the tharivs overall insurance. During the yearthe char(ty paid £4,146 (2023 - £4.902) in respect of Insurance. 28 AGE UK SUThON NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 12 STAFF COSTS AND NUMBERS Charlty 2024 2023 Aggregate payroll costs v￿re. Wages and salaries Social security costs Other pension costs 1.034.860 74.850 23.733 1.114,175 86,996 23,352 1.133,423 1,224,523 Particulars of employees: The average number of staff employed by the charity during the finanaal year amounted to: 2024 2023 Administrative staff Management staff Help at Home workers Other 42 23 38 29 70 74 2024 2023 Employees eaming over £60.000 per annum £60.000 - £69.999 13 FIXED ASSETS Fixtures And Fittings Computer Equlpment Total Cost At 1 April 2023 Addttions 2.826 17.494 7.755 20.320 7.755 At 31 March 2024 2.826 25.249 28,075 Depreciation At 1 April 2023 Chafge for the year 2,826 10.238 5.667 13.064 5.667 At 31 2024 2.826 15.905 18,731 Net book value At 31 March 2024 9,344 At 31 March 2023 7,256 7.256 29 AGE UK SitrTON NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 14 INVESTMENTS 2024 2023 Market value as at 1 April 2022 Additions Disposals Change in market value 290,695 58.945 {48,129) 18.778 324,133 61,724 (67.872) (27,290) 320.289 290,695 Cash available to invest 9,482 16,313 C105ing valuation 329,771 307,008 Market Value 2024 Market Value 2023 Quoted investments Bonds Equilies Global Investments Absolute Retum Property Commodittes Other Cash 79,618 45,697 142.825 28.622 8,447 9,282 5,758 9,482 67,772 136,663 32,929 28,518 7,235 8,377 9,201 16,313 329.771 307,008 30 AGE UK SUThON NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 15 DEBTORS Charity 2024 Charity 2023 Amounts falllng due wllhln one year Trade deblors Grants and directly Gharged services Prepayments 100.506 146.016 9.806 143.225 173,451 5.072 256.328 321,748 Amounts falling due after more than one year.. Granls and directly charged Se￿iceS 141,179 256.328 462.927 In January 2022 the charity were notified of a 3 year grant for a new project starting on 1 April 2022. The full amount of the grant has been induded as debtors. split between due within one yeai and due after one year. 16 CREDITORS: Amounts falllng due wlthln one year Charity 2024 Charlty 2023 Trade creditors Deferred Income Other (xeditors Accruals 3.338 223.432 2.103 38,257 5,203 182.901 7,295 18.176 267.130 213.575 17 CREDITORS: Amounts falling due after one year Charity 2024 Charity 2023 Deferred Income 131,804 31 AGE UKsurroN NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 18 DEFERRED INCOME MOVEMENT The movemenl in deferred income is as follows: Charlty 2024 Char5ty 2023 Balance at 1 April 2023 Amounts deferred in the period Amount released to inwfning resources 314.750 91.583 (182.901) 432,960 51.950 (170,160) Balance at 31 March 2024 223.432 314.750 19 PENSION AND OTHER POST41EllREMENT BENEFIT COMMITMENTS Charity 2024 2023 Defined Contribuiion Contributions payable by the Charity in the peri 23,733 23,352 Multi-Employer Pension Plan Contributions payable by the charity in Ihe period for defined benefit p8nsion deficit 5.012 4,933 28,745 28,285 Contribubons of £418 (2023 - £1.884) were payable to pension schemes at the balance sheet date. 20 PENSION SCHEME AND OTHER POST- RETIREMENT BENEFITS The company participates in the scheme. a multi-employer scheme which provides benefits to some 638 nan- associated participating employers. The scheme is a defined benefit scheme in the UK. It is not Fjossible for the company to obtain SLJfficient infomiation to enable It to account for the scheme as a defined ben8fit scheme. Therefore il accounts ft)r the scheyne as a defined crmtribulion stheme. The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on 30 December 2005. This. together wilh documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council. set out the fram8work for funding defined benefit occupational pension schemes in the UK. The scheme is dassified as a'last-man standing arrangemenf. Therefore the company is potentially liable for other participaling employers, obligations rf those employers are unable to meet Iheir share of the scheme deficit followng withdrawal from the scheme. Participating employers are legally requi￿d to meet their share of the scheme d8ficit on an annuity purchase basis on withdrawal from Ihe scheme. A full actuarial valuation for the scheme was carried oul at 30 September 2020. This valuation showed assets of £800.3m. liabilities of £831.9m and a deficit of £31.6m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay addknal contribut￿n5 to the scheme as fotlows.. AGE UK su￿ON NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 PAARCH 2024 20 PENSION SCHEME AND OTHER POST- RETIREMENT BENEFITS I contd... Deficit contribulions From l April 2022 to 31 January 2025: £3.312.000 perannum (payable monthly) Unless a con￿$s1on has been agreed with the Trustee the term to 31 January 2025 applies. Note that the scheme's previous valuation was carried out with an effective date Of 30 September 2017. This valuation showed assets of £794.9m. liabilities of £926.4m and a defictt of £131.5m. To eliminate this funding shortfall, the Trustee asked the partKMpating employer5 to pay additional contributions to the scheme as follows= Deficit contributlons From 1 April 2019 k) 30 September 2025: £11.243.000 per annum (payable monthty and in¢￿asIng by 3Yo each on 1st April) The recovery plan contributions are allocated lo each partiCFpating employer in line wilh their estimated share of the Series 1 and Series 2 scheme liabiliiies. Where the scheme is in deficit and where the company has agreed to a deficit funding arrangement the company recognises a liability for this obligation. The amount recognised is ihe net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The PTesent value is calculated using the discount rate detailed in these disdosure5. The unwinding of Ihe discount rate is recognised as finance cost. PRESENT VALUES OF PROVISION 31 March 2024 (£s) 31 March 2023 {£s) 31 March 2022 (£s) Present value of provision 4.076 6.394 RECONCILIATION OF OPENING AND CLOSING PROVISIONS Peri￿ Ending 31 March 2024 (£s) Period Ending 31 March 2023 (£sl Provision at start of period 4.076 6.394 Unwinding of the discount factor (interest expense) 157 121 Deficit contribution paid (2.330) (2,330) Remeasurements - impacl Df any change in assumptions (109} Remeasurements - amendments to the contriixjtion schedule Provision at end of period 1.904 4.076 33 AGE UK surroN NOTE5 TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 20 PENSION SCHEME AND OTHER POST- RETIREMENT BENEFrrs I contd... INCOME AND EXPENDITURE IMPACT Period Ending 31 March 2024 {£s) Period Ending 31 March 2023 (£s) Interest expense 157 121 Remeasuremenls - impact of any change in assumptions 1109) Remeasurements - am8ndments to the ())ntribulion schedule Costs recognised in income and expenditu￿ account ASSUMPTIONS 31 March 2024 °A per annum 31 March 2023 % per annum 31 March 2022 ¥0 per annum Rate of discount 5.31 5.52 2.35 The discount rates shovm above are the equivalent single discount rates which. vthen used to discount Ihe future recovery plan contributions due. would give the same results as using a full AA corporate bo￿1 yteld curve to discount the same recovery plan contributions. The following schedule details Ihe deficit contributions agreed between the company and the scheme at each year end period: DEFICIT CONTRIBUTIONS SCHEDULE Year ending 31 March 2024 (£s) 31 March 2023 (£s} 31 March 2022 (£sl Year 1 1.941 2,330 1,941 2,330 2.330 1.941 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year11 Year 12 Y8ar 13 Year 14 Year 15 AGE UK su￿oN NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 20 PENSION SCHEME AND OTHER POST- RETIREMENT BENEFITS Icontd... DEFICIT CONTRIBUTIONS SCHEDULE I contd Year 16 Year 17 Year 18 Year 19 Year 20 The company must recognise a liability measured as the present value of the contributions payable tIHt arise from the deficit recovery agreement and the resulting expense in the income and expenditure account i.e. the unwinding of the discount rate as a finan￿ cost in the peri&Y in which it arises. It is these contributions that have been used to derive the comp8nVs balance sheet liability. 21 ANALYSIS OF GROUP NET ASSETS BETWEEN FUNDS Unrestricted Funds Restrlcted Funds Total Funds Fixed assets Current assets Long tem assets Current liabilities Long tem liabiltties Pension liability 339,115 336,443 339,115 408,522 72.079 {267,130) (267,130) (1,904) (1,904) Net assets at 31 March 2024 406,524 72,079 478,603 Analysis of group net assets between funds for the year ended 31 March 2023 Unrestricted Funds Restricted Funds Total Funds Fixed assets CUr￿nt assets Long term assets Current liabilities Long term liabilities Pension liability 314.264 156.925 314,264 436,082 141.179 (213,575) (131,804) (1.472) 279,157 141.179 (182.951) (131.804) (30.624) {1,472) Net assets at 31 March 2023 439,093 105.581 544.674 35 AGE UK SUThON NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 22 MOvEmE￿r IN FUNDS Charity At 1 April Incoming 2023 Resources Outgoing Resources 31 March 2024 Transfers Unrestricted Funds Pension Liabilty 90,000 90.000 Total unrestricted funds &xcl. Pension 349.093 794,903 (821.121) (6.351) 316,524 Total unrestricted funds 439.093 794,903 (821.121) (6,351) 406,524 Movement in unrestricted funds for Group and Charity the year ended 31 March 2023 At l April 2022 coming Resources Outgoing Re50Lirce5 31 March 2023 Transfers Unrestricted Fund5 Pension Liability 90.000 90,000 Total unrestricted funds excl. Pension 404.300 820.330 (875.869) 332 349.093 Total unrestricted funds 494.300 820.330 (875.869) 332 439,093 Purpose of designated funds Pension Liability- to meel the polential cost associated should the group need to buy-out the cost associated with the defined benefit scheme. 36 AGE UK surroN NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 22 MOVEMENT IN FUNDS I contd... Charity At 1 April 2023 Incoming Resources Outgoing Resources 31 March 2024 Restricted Funds Transfers Together for Sutton Together for Sution Crisis Role Better Later Lives The Henry Smith Charity Mental Health I&A Demenlia Peer Support Service Age UK l Emanual Hospital Garfield Weston Foundation ASDA Foundation Age UK ResetV8 Fund TNL Lets Connect TNL- Cost of Living The Mercers. Company 2 Anonymous at funder request Help at Home- shopping for dients Frailty 109,353 25.958 5,571 60.000 12.451 56.698 (95.046) (31,004) (5.285} (59,372) (1,320) (45.285) (21.087) (25,000) (1.600) (39,630) (139.188) (29.856) (25.234) (3,719) 14.307 5,046 286 628 15,696 13.957 788 4.565 2.544 21.875 25.000 1.600 40.000 900 370 9,303 147.591 29.330 25.000 10.000 526 2.031 8.666 1,797 14.947 68.987 35,950 (68,987) (36.729) 779 Total restricted funds 105.581 588.489 {&28,342) 6,351 72,079 Total funds 544.674 1.383.392 (1,449.463) 478,603 The transfer5 relate to overspend of restricted funds met by Un￿strICted funds. 37 AGE UKSUTTON NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 22 MOVEMENT IN FUNDS I contd... The purpose of the restricted funds is set out beloNY. Advtce Link- grant to provide advtce line for the older people. Together for Sutton grant to provide infomiation and advice a part of a consortium contract through C(Knmunity Action Sutton Social Prescribing is a contract with NHS England to provide Social Prescribing SerVi￿S to the local Primary Care nebwiwk. The restricted element of the contract relates to specified Link Worker posts dI￿GUY reimbursed. Age UK Building Better Lives is a programme to tad(le loneliness. including ass&ssment, methodology. goal setling, signposting. and outcome measuring. The Henry Smith Charity- granl lo provide core funding arising in Community Support Mental Health l & A- grant to provide infomiation and advice for peopl& supporled through mental health funding Dementia P8er Support Seniice - grant to provide peer5 SUPPOrt for people living with dementia and their carers Age UK l Emmanuel Hospital- grant to provide infomiation and advice Garfield Weston - for provision of care services. Amold Clark Community Fund - grant to provide core funding arising in Community Support Waitrt)se Donations- small grant for Community Matters at Christrnas scheme The Blackmore Foundation grant to provide core fvjnding arising in Community Support MJ Hindley Charitable Foundation - grant to provide core funding arising in Community Support Asda Foundation - for Silver Sunday. Shanley Foundation - grant to provide core funding arising in Community Support The Sir Jules Thom Chafitable Trust- grant to provide core funding arising in Communty Support ASDA Green token award for Community Support Croydon Health Serbllces NHS - small grant to provide core funding for Lets Connect Age UK Reserve Fund - to 5UPPOrt a due diligence project Project Gemini TNL Lets Connect - grant to provide 5UPPOrt for older people to reconnect with their community and improve comfflunity connections W G Edwards Charitable Trust- to provide support for Levs Connect Lets Dance praject Mer¢er5 Company - for devetopmenl of Community Connectors se￿1￿ to better rneet need5 of local community in Sutton. Sutton Community Fund- intra-slructUTe grant. Skipton Building Socaety- to purchase tablets for clients to use to provide virtual book club. Anonymous at Funders request - Age UK London SFR- Supporting fixed costs for deliveriry Hel) al Home Winter Pressures - supporting short temi funding to support winter pressures Age UK Tackling Inequalities Fund (Nordic Walking) - provtsion of exercise classes. Help al Home - Shopping for clients - repayment of moni8s from clients for shopping purchased for them. City Bridge - Mobile infomiation and advice for older people across Sutton. with a focus on reaching the most vulnerable and isdated members of the CA)mmunity. Wami Homes - to continue to deliver advice around wam) homes programme. The National Lottery- to support befrtending volunte&rs. London Borough of Sutton consultancy grant 10 5UPPOrt Sutton becoming Age Friendly Sport England Tackling inequalities - funding for Walks for Wellbeing - 38 AGE UK SUTTON NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 22 MOVEMENT IN FUNDS I contd... Movement in restricted funds for Group and Charity the year ended 31 March 2023 At l April 2022 Incoming Outgoing li 31 March 2023 Restricted Funds Resources Resources Transfers Advi￿ Link Together for Sutton Social Prescribing (PCN) Better Later Lives The Henry Smith Charity Mental Healih I&A Dementia Peer Support Service Age UK l Emanual Hospital Garfield Weston Foundation Age Friendly Arnold Clark CommuiNty Fund Waitrose Donations The Blakemore Foundation M J Hindley Charttable Trust ASDA Foundation Shanley Foundation The Sir Jules Thom Charitable Trust ASDA Green Token Award for Community Support Croydon Health sep41￿s NHS Trust Age UK Reserve Fund TNL Lets Connect W G Edwards Charitable Trust Th8 Mercers. Company 1 The Mercers, Company 2 Sutton Communty Fund Skipton Building Sooety Anonymous at funder request Age UK London SFR Wint8r Pressures Age UK Tackling Inequalities Fund (Nordic Walking) Help at Home- shopping for dients 6.248 79.050 155,497 30.000 60.00 11.000 50.955 32.500 30.000 14.150 1.000 500 100 350 1.326 2.000 (6,248) (79,050) (155.497) (30,000) (60,000) (6,435} {48,412} (10,625) (5,000) (14,150) (1,000) {500} (100) {350) (1,326) (2.￿01 4,565 2,544 21,875 25,000 3.000 (3.000) 500 (500) 500 40,000 135.014 1.500 (500) 40,000 900 (134,114) (2,4991 (17,427) (24,969) (2,500) 1.000 17.427 27.000 2.500 2,031 1.332 (1.332) 10.000 (1,344) (5,158) (2.000) 8.666 5.158 2.000 1.473 (1.473) 69.765 {69,765) Total restricted funds 23.917 767.928 {685.942) (332) 105.581 Total funds 526.917 1.588.258 (1.534.623) 571.852 AGE UK SUThON NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 23 FINANCIAL OBLIGATIONS Operating lease payments represent rentals payable by the Charity. At the reporting end date the company had outstanding commilments for future minimum lea* payment5 under non-cancellablé operating leases. which fall due as follows: _ Charty Land and Buildings 2024 2023 Less than one year Between tsvo and five years 24 CONTROL There are no controlling parties. 25 RECONCILIATION OF CHARITY NET INCOME I (EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net income for the reporting period Adjustments for. Depreciation charges (Gainsylosses on investments Dividends and interest from inveslments and bank Decreasel(increase) in debtors (Decrease)fincrease in creditors Movement in provisions (66.071) 26.457 5.667 (18.778) (5.455) 206.599 (78.249) (432) 5.545 27,290 (4,659) 4.721 (126.055) <4,922) Net cash provided by operating activities 44.145 (71,623> 26 FINANCIAL INSTRUMENTS The carrying amounls of the charl￿S financial inslruments are as follows: 2024 2023 Financial assets Debt instruments measur8d at amortised costs Equity instruments measured at cost less impainnent 262.182 273,872 320.290 290.695 Financial Liabililies Finan(aal liabilities measured at amortised cost 43,698 30.674 40