R•g￿ttr￿d number: IM146487 Charity number. 111086323 AGE UK WEST SUSSEK BRIGHTON AND HOVE TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 *AA114W]* 0211212021 COMPANIES HOUSE #242 AGE UK WEST SUSSEX. BRIGHTON AND HOVE CONTENTS P898 RÈfér•ne• and admln5stratlve detalls olthe Charfty. Its Trustees and adv5se Trustees. report 3-12 Ind•p•nd•nt audltors. report on the financial Statements 13-16 Consolldatsd $t•tsm•nt of financial acti￿10$ 17 Consolldated balance sheet 18-19 Charity balan￿ sh••t 20-21 Consolid*ed statemént of Cash flows Noles to th• financlaf statements 23-47 AGE UK WEST SUSSEK BRIGHTON AND HOVE REFERENCE AND ADMINISTRATNE DEr￿Ls OF THE CHARrrY. TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2021 Trustees John Dixon Robert Ashton {rèsign•d 30 JLFne 2020) Leonard Bamett (resigned 2 D￿rnber 2020) Robert Page Iresiqned 8 December 20201 Amanda Latham Petèr Wor*er Linda Oyo Paul Alen lappointed 1 Juty 20201 Frances Haigh (appointed 1 July 2020. re5ign&J 15 Cktober2020) Maureen Vallon (appointèd 1 20201 Caroline Instsnce (appointed 1 Juty 20201 Philip Lansbery lappointed 1 Jvly 20201 Sam Jones Company r•gist•r•d numb•r 04146487 Charity reglst•r•d number 01086323 R•glst•r•d offlce Sufjie 2, 1 Fthr Anchor Springs Littlehampton West Sussex 8N17 6BP Company secretary Helen Rrce lnd•￿ndènt audltors Idwn Scofield Ltd charte￿ Accountants Statutory auditors 3 Newhou$È 8usinèss C Old Crawley Road Horsham Wesl Sussex RH124RU P￿e1 AGE UK WEST SUSSEL BRIGHTON AND HOVE REFERENCE AND AtJMINISTRATIVE DETAILS OF THE CHARITY. rrs TRUSTEES AND ADVISERS {CONTINUEDI FOR THE YEAR EMDED 31 MARCH 2021 Bankers CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kènt ME194JQ Lloyds Bank plc 10 East st￿et Chichester Wesl Sussex P019 1HJ Pagg 2 AGE UK WEST SUSSEK BRIGHTON AND HOVE TRUSTEES. REPORT FOR THEYEAR ENDED 31 MARCH 2021 The Trustèes p￿sent their annual report logelher V*ryih the aL*Jited finanual ¥tstements of the Age UK West Sussex, Brighton & Hove for the year 1 April 2020 10 31 March 2021. The Annual report serves the purposes of both a Trustees, report and a directors. under o)mpany law. The Tnjstees confimi thal the Annual report and financial statèments of the charita￿e company comply the C￿r￿nt statutory requiremènts. th8 quirements of the charita￿e companys goveming document and the provi&ons of the Statèment of Recommended Praetica ISORPI applicable to charities preparing their accounts.in accordanco wtth the Financial Reporb"ng Stsndard applicable in the UK and Rewblic of Ireland IFRS1021.{effeciive l January 20191. Since the group and the Charity qualfy as small under seclion 383 of the Companie5 Acl 20Cfj. Ihe Group strategic report required of medium and large Companies under the Companies Act 2006 (Strategic Report and 01￿CtorS, Report) Regulations 2013 has been (NThitted. Th8 name of the charity is now Age UK West Suw, Brighton & Hove." Objedives and aetiviti•s Polieles and objectives The (*aritys Vlsw is a world in which older Peop￿ fiourish - and its mission is Io Tmprova thè lives of older people in Wesl Su55ex Brighton & Hove. W8 ar8 pasS￿ate and deterniined about making ￿tar life bètter. and we act with intègrity and prowde a qualty seryice. We listen to the wews of people in later lile, their lamilEs and cartrrs. to shapè the seNices we Txovide. In sethng objeciives and planning for a￿vilieS. the TTUSte8s havè gwèn du8 considèration to general guidance published by the Charity Commi&sion relatirg to public benefiL indudng Ihe guKlanrx 'Pubknc benefjl.. running a charity IPB21'. Strategies for achi•ving obl•etlv•s We supported over 11,100 residents and reeorded over 84.000 contacts wlth Indlwduals - wè have bh3 ambilic*ns. Our five-year strategi¢ plan launchèd in 2020 sèts a framework of pritiritiès and goals for AUKWSBH over the next five years. Older people and tr*"r changing needs arè at thg core of avaOhing w& do. Our plan is informed prirnarity by consultaliC￿ wlh our oJstomers. servus are often co-desiqned wtth th8m and we call on our extensive kI￿￿e￿9* and expèrience of thiNJ in the sector for 65 years. In additson. our vol¢Jn¢eers, staff, truste•$, partneT5. and other stakeholders also gNe us inuedibly valuable input. Thk8 5$ supported by an analysis of current activities. assets. resources. perfom)ance. demand. local and natlonal policy develDpments. and market trends. We n8vw stop listènirvj and we arn confident that our work r￿ects oldgr people's needs and aspirations. Pa￿3 AGE UK WEST SUSSEK BRIGHTON AND HOVE TRUSTEES. REPORT ICONTJNUED) FOR THE YEAR ENDED 31 MARCH 2021 Obje¢ti¥È$ ond aetlvltl•s Icontlnued Activities undertakèn to aehi•v• obj•eliv•s We improve the quality of peop￿,5 later lrfe through a range of community and home-basèd services and entèrprises. We are the leading prov*Yer of seNices lof older people {ov8r 501 locally. We also provKle support to working aye adults 118451 through our soual prescribing seNces across West Suss•x and Brighton & Hove, and through our P￿Vent￿)n Assessment Team IPATI contract wth WSCC.. We help people access our 5eNices and those of our partners in the public. private. 8nd voluntary Secto￿ to help thern thrive. We enatAe older le in Wesl Sussex Bri hton & Hove to be: Inforn)od OLtr Informat￿Tr and advi￿ semces help peo￿8. induding carers. to know their rlghts and make informed choices. Conn•d•d OLrr communty and buikliry based social dubs. events and activitses provhle opportunities for people to get out. have fun, socialise and iwild friendsh4v3. Healthy Our wde range of health and wellbeing ac￿￿treS indudiro fitness classes. relaxat￿, hobby groups, 8$ well as 'spa' treatments help people to keep athe. stay heanhy and improve thwr rnental heahh. Indep•nd•nt Our home-based seMce$ SUPF>Yt peoe to 5tsy independent for longer WTthin their own home. including after a Feric(l ol ill he*th. ¥lso to prevent hospilal admissKJns. Public b•n•ftt We have referred to the contained in the Ch8Tity C(MnmFSYOn'S gener819uidèn¢e on putyic benefit vthen reviewing our objéetivès and in planning for future acti￿tIes. The Trustees considèr our activities rèflect ihe aims and objectivés and that they are desKJned to prowda accewblè seNices and *Mb$$ that benefft the 8ppropriale se¢t'on gf the public in accofdance pur Gharitsble objectN￿. Aehlevment and perform•n¢e 2020-21 was an exceptional year for the ￿)rkI and a global crisis reS￿nSe was reqUI￿d fcf the Cowd-19 pandemic. The reports bdow show the v8riety arKI intensty of ourwork in the last financkgl year. In Brlef We supported over 11,100 older pwwe We delivered over 6,650 meals We rnadè over 16,800 befriending calls We gave Help at Home to over 1,800 d¢ents We helped over 150 people with Crisis sernces We provided infomats.on and advKe to over 4.000 ptoplè We idertified over £ 3.6 millK)n in benefits that oldèr pÈorAè could daim Pa￿4 AGE UK WEST SUSSEK BRIGHTON AND HOVE TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2021 hievment and perlorniance leontimiÈdl Revlew of activities Central Operation$ In addition to dealing wth an unprèeedented global pand•miG 202￿21 was a Signi￿nI ypar for Age UK We81 Su55ex. Brighton & Hov8 as wè finalised our second mèrgèr. We merged vrith A9e UK Horsham District on 1 July and undertook a signtfunt programme of c*)nsolKlab"on and d)ary managemènt to $uccessfulty bring our charities together. This perioj also saw the inlrodu¢tiM of a rthv Sgnior Leadothip Toam re¢ruitsd to delwtr the Five-year Strategic Plan and implement the thanges reqwr¢d for the $ignthrAnty larger or9anisation. Services Informatlon andAdvlce We offer free, confidential infonnation and advice ser￿e to people over 50. their families and carers. Our friendly advisors cover a huge range ol topics induding weware benefits, ho¢Jsing needs, 18isure and social activities, money advice. care planning and advice k)r carer5. Our trained experts are available face to face. over the phone or via email and during this period we supported over 4.000 older people wth their queries, dealing wth over 14,000 topics. One area of expertise is Welfa￿ benefits. This year. the team idenlified an increthble £3.6 rnillion in benefits that older people could daim, or we could SUPFK*I them to daim. The additional income has made a difference to hundreds of individuals and families who rnay otheThvise have realty slwggled financially in retirement. Home from Hospitalservice The partnership wrth Guild Care to prowde a counwide Horne from H05Pital contract continues successfully. Vulnerable people leaving hospital are alAe to access up to six week5 of support, prowded by volunteers. This indudes practical and emotional support to ensure people regain their independence. We deliver the service in Arun, Chichester, Crawley and Mid Sussex and in 2020-21 supported 1,212 people by providing 14,194 hours of volunteer support. In 2020-21 we only 5UPPOrted 150 dients directly with horne frorn hospitsl service following hospital discharge however. the Horne from Hospilal UJord￿at0rS ha¢J over 3.000 interactions with clients throughout this period wilh dcorstep deliveries or phone support. Crisis S•r¥ke The Crisis service continues to prowde temporary emergency support ¥then other services are not availabl8. Crisis supports older people who have an acodent or are finding it impossible to cope in a domestic emergency as well as people discharged frorn hospital needing short terrn support to regain independence or whrfe a long- term solution is fouThJ. AJI Cr¢sis carers are carefully selected and trained. Through short visits and telephone alls thèy can provide practical help regards to shopping, rnedication prompts, preparation of a light meal. li9ht househol¢Js tasks and kh¥4evel personal care. The service. available for a maximLtm of 7 days. continLted to operate throughout th¢ Covid cri￿S adaptirvJ to the challenge fdlovAng changing govemmènt guidan¢e Ihroughout the earty morths. In 2020r21 they Support￿ over 3￿ Clienls pThiding ovar4.500 hourn of support. Nail Cutting SerYi¢e Throughout 2020-21 the nail cvtter5 were furfoughed however * c*)ntinue to develop the servi￿ in Brighton & Hove moving away from home visits and inueasirtg our clinic-based service to ensure financkil sustainability. The serwce is aVaila￿e to people over 50 who have impaired eyEsighL reduced mobilty or an inability to reach their feet for ph￿ical or medical reasons. The manager is exptoring expanding the service into Wesl Su$sox Using the a¥tivity ¢entrÈs 8$ a baso Take and Home and Settle & Rèlative Support This service supports people who live ahme on Ihe of their hospital di5¢harge. Clients are transported home from A & E departments and h05Pital ward5 across Wesl Su55ex Itnduding residents of West Sussex from East Surrey hospital}. We continue the partnership Guild Care. This service can support to 'tJDbknck" busy A & E departments and hospitsl beds while ensurirrfJ dients have a safe discharge reduung the risk of readmis$v)n. In 2021-20 we were able to 5UPkK*t ovèr 1.700 vulnèrablè p8Oe home mor8 quickly and safvly. H¢)wever, duriry 202(k21 we onty supported 90 people homè. Thè Coordina￿ wèrè unable to be based in the hospitals Page S AGE UK WEST SUSSEK BRIGHTON AND HOVE TRUSTEES. RepoRT {CONTINUEO} FOR THE YEAR ENOED 31 MARCH 2021 A¢hi•vm•nt and perforniance {continu•d) throughout thè year. W￿n a￿e to, we offèrtd a saiue onty swi¢¢ l)ut Iitue vptske. As thè cotsrdifiators w•re unable to bè bas￿ Tithin tht hosp¥tals throughout the majorty of 2020-21. we were unable to prowde the relative support service. When not prO￿ding the service. the coordinators suppM)rted d0015tep deliveries and befriendin9 ¢*15. Betsveen them they had over 9.OCrf) interaction5 dients. S￿l81"PreS￿ribln￿ Social prescribers en?blg peoplg wnnert to the Services in their Iwl comrnunty vthich wll help thern. tad(liTrJ issues like debt, housing problems and S￿la1 isdation. Durlng 2020-21 our swal prèscribèrs supporttd eall$ and drkn step deliveries as well as supportiTrJ 553 Clients wth a Social pres¢ribiftg servtce. Even Tith the ¢hallervJes faced this was an in(¥ease from the 2019-20 figure of 408 dients. Preventlon Assessment Team This service is 8 rnuIts"-disriplinary team operating a¢ross West SusseL Our Community SupFQrt Workers hetp vulnerable people with l¢)w level need5 to remain independent within their.communities for as long as possible. The service continued delivering wrbJalty durirKJ the pand¥mie and our Community Support Workers were 8llccated to support Communty Hubs during thè erisis. Our buildings and presen￿ In our¢ommunitios Wé continuèd to manage and re-build our Ical community actiwties COVID-191 tr￿th f￿M our buikllngs as well as growng a wid8r. district and bortyjgh offèr in thè community. Wé mana98 offices in Lituehampton and Brighton, and manage a further svx buildings in Horsham. Crawley, H3￿rdS Heath. Burg955 Hill. Bognor Regls and Fish*rsgat•. Thesè kncal buildings provide a varied and •ngaging bmetabl•, high-quality hot and food. ancl v•ider sermces from us or others for cAder people. They were incredibly busy and popular vènues before th COVID-19 pandemic, and we opened quick￿ and dosed the doors reluctandy as Ihe various restrictions occurred dufing thks year. The teams worked ¥ncTedibly flexibly duriThJ this ¢Jrfficult period - increasing phone calls, food deliveries and door-step Welfa￿ checks ￿en appropriate. Our rural cyjtrèach in Horsham was a lifeline for many, enabling us to reach and Sup[￿ these people qui¢*ty in their fvjjr of need. In Nov•mb8r 2020 we were approached by West Sussex County CounL?I (WSCC) to dèlNer a m¢al delivery programme at short notice wth fund*ng distributed by Govemment. We We￿ successful in d•ltvering ov•r 10,000 meals to the most vulnerable over the four months this projecl was funded by WSCC. Et was a grèat way to continue our connection vhth ohjer people and rgjuce loneliness over the wnter months. Our refvrbished gyTn celebrated its first year of operation and goes from strength to strength at the Labumum Centre ir$ 8ognor Regis. It is a popular, safe, and trusted place for older people to keep ffit ph￿lea1￿ arvj mentally, as well as a gr8at space to meet rehabslitalion ￿anS wlh ovr staff and volunteers on han(1 to $upport. In this period. we took on Eastbr￿k man￿ in Fishergat8. Atlur as a community centèr lo help ￿aliSe our ambition of morè integrated and pan-generatronal wilh older people. We also succèssfully londered for WSCCS retjuang soual isda1￿1 contracts for delNery in all WSCC District and Bomughs bar Worthing, whK begin in JLAY 2021. Daybreak Service- helping both individu•l •nd ¢•rernavlgatg lilv with dementla Our work with people liwng with dementi8 and their Care￿ is one area where our impact can be immediate aThJ life changing. Having someone to tum to who compleldy understands the challenges dementia poses and WIKI can offer some personalk8&I Slip￿ can make a drfference. Last yèar. we supp)rted 97 dienls and 97 carers through tyjr dementia s•rvu. Repeat￿ lockdowns had a negativè effèct on mental abilFty for many and in these cases. where our samcès ¢ouldn't meet their needs any longèr. wè workèd ell￿ts and the5r lamilies to find altematNè cart arrangèments. We a1$0 saw a significant rise referrals and were able to inmase group sizes at two of our Ic¢atI￿S. We've created a safe, stimulating enwronment to help peoe liwng the condition fight back against'ms progress, using a range of activithes which work on motor sknlls. memory and movement. For carers. wg offer spite and the opportunity lo take some time for themselves. knowing that those thèy support are getting the Pag$ 6 AGE UK WEST SUSSEL BRIGHTON AND HOVE TRUSTEES, REPORT (CONTINUED} FOR THE YEAR ENDED 31 MARCH 2021 A¢hlevmont and ￿rfornlanQe {eantinu•d) best possible care. Caring rèsponsTbilth"e5 take thetr toN arKI a regular break can make all the dlfference In terms of protecting the carèrfs own physical and menlal health. The elements, for dient and car8r, work hand in hand. Help at Home In 2020.21 we provided a Hdp * Horne ser¥7￿ a¢yoss the county indLKJirrfJ via WSCC contracts ujvering Cra￿eY. Arun, Horsham and Chichester. This Provided 5ubsidised doMeS￿C help to over 250 older people. This funding wa5 Wthdrawn at th? end of June 2021. Mosl of these dients transfeNed to our paid for seNica which now currentty 5UPPQrt5 1.300 customers. From March 2020 to June 2020. ￿ were able to offer ¥ Irmited sewvice to exi5tsng caJstomeTS who need8d shopping. The servieè ftAly in June 2020 whefy ¢￿$10M￿S were happy lo have a home hel￿r home helper5 were happy to work. Help 81 Homè is also continuing to suprwt cAdèr people with the hanther50n semce, gardeniro and home visiting across West Sus$8x and Bfighton and Hove. As we approach W*nteT 2021 Help at Home wll be wovidiThJ Home En?rgy Checks for ¢lients in hard to heat homes andlor in tuel poverty. Our handypeople will ?Iso be delivering and installing oil filled rddiators to ¢lients ￿ need emergency heating over the wnter in tho Èvent of a btsi￿r brèakdown. Helping ol¢kr people to remain at home and independenl is lh¢ ftr¥lure and succe55 of the help at home service which is growin9 at pae8. Fundralslng Historically. ￿ have relied heamly on contracted income and Trndmdual servics lèads applied fOT service specific funding or capital projects ￿S￿lting in SanJety restricted funds. During 2020121 wè saw a S￿nIficant decline in traditional fundraising opportunities but were incredibty fortunate with Covid-19 erisis fundraising. Wè aehitvod success in neady 60% ofall applI￿tiorts. Our emergency campaign We are slill here for yDu'. Launched in direct response to Covid-19 help8d to raise crucial lunds towards the introduction and continuation of belriending calls. th& launch of Connect m¥9azino. activity packs. doo￿tep visiting. wellbeiro thecks. shopping al￿ meal delNeries. In addikn"on. wo also dosigned three addttional fvndraising campaigns slrategically ￿unched throughout the remainder of the year- our Summ¢r 'Crearn Tea, Fundraiser, our 'Bags of Support. Autumn rAmpaign and Keep Warm an11 Well this Wintèrf induding Festive Bags of Support, meal ddNwies. wellbeiThJ checks. energy checks. warm home packs. plus infomiation and advice supporL I thre8 campaigns achiev&J signfficant media coverage. bwst8d kndfa￿ng income. Inueasfjd awareness, and resulted in new Corporate Spor6oTship I CSR relationships. Page 7 AGE UK W&8T SUSSEK BRIGHTON AND HOVE TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2021 Achievment and p¢rfornwn¢¢ {¢ontinu￿) Invostm•nt policy and perforrnanco AUKWSBH has the power to invest as contained in its goveming document At present. AUKWSBH hokls no inveslments. other than in its subsidiary Age UK West Sussex Enlerpri8e8 Limited, and 115 bank aCCOLtnts. Responsibilty for sanctioning and 8ppmwng investments lies with th8 Trustees who will seek proféssional advice in these malters if they Con￿der rt appropriat•. Such proposals will be prepared by the Htrad of Finan¢¢ in with th¢ CEO and Chiel Op&ratirKJ Offi¢¢r ¥ppropnato prolessional advice. The br￿d investment Fdiey is: Investsnent5 Sh￿4￿ be made to strike a baance t*￿n a gLNxI retum on inve$tr*nt and security To re-invest investment incomè To review Invèstmants annually To ronsider ethical factors Ir￿ofar as Iheso rgffect th8 charita.blè ob58¢ts of Ag9 UK Wesl Sussex. Brighton & Hovg. and arè consistert wtth charity law To ensure Ihat afi appropriat* I￿81 of accessible funds is maintained In addit*)n, proCedU￿S should ensu￿ that al records of investments a￿ held in a Secu￿ place. that statements of investrnents are available for inspect1c￿ by Trustees at finance SUt￿COmmittee meetsngs rf requested and that controls ars in placè to ènsur8 that all inveslment income is teckived on a tsmely basis. Flnanclal review The consolidated resulls of the charity and its subsidiary are set QLrt in the Statement of Finanrial Actmties. The total consolidated lunds held at the Wancg sheet are £2.968,082 which con51sI of £302.947 hdd in restricted funds, £449,896 in desvjnated funds and £2.215,239 hèld in general unrestrided fund5. The charity5 net movement in funds for the yearwas thÈr¢forÈ £107.95212020- £1.507.8571. Included in the post Age UK Hor5h8m Distri¢t merger ¢¢n¥d￿lated figuos 8re ntrt assets of £253.476 which have been inclu¢Je(l as donab'orbs M)¢ome. D•$ignat•d Funds We a￿ designating fvjnds to be able to respond to thè arganisatitinal dèvelopment need$ of the bu3iness as well as the external demands placed on the ¢harity and thÈ arÈas to alltyw us to be fil for Purpose in the future. The Trustees revwed the de5ignate(l fvnd alkKallor￿ as part ol the txJ¢Jget proces5 for 2021122. A revised year investment plan has been produced which is aligned dearfy to our strategic objeclNes and investhient requirements. Oetails of these fund allocations are Fnckjded in ihe rK)le5 to the accounts. Golng concem After making apprtspriatè enquiries. the Trustees have a reaSona￿e expectation that thè Company has adequate resources tts continue in tsperatKJnal existence for the foreseeab￿ futu￿. For thi5 reason. thèy continue lo adopt the going c4)ncem basis in preparing the f5n8n¢ial statements. Furthef delails regarding Ihe adoption ol the going concem basis can be frNJnd in Ihe 8(￿L￿ti￿ pc4it>es. Page 8 AGE UK WEST SUSSEK BRIGHTON AND HOVE TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2021 R¢$•ri*s poli¢y The process of holding Teserves is an essential part of 9o¢rf1 financaal management practice. Trustee5 are, however. required to justty their legal powèr to how r#sÈrvts. Because of ihe vulnerability of our Cl￿nI group and ts nalure of the services we offer, the Twstees of AUKWSBH have determined that there is a need to secure the organi5alion's wability beJDnd the immediate future in" order to provide relHble sery1￿S and tundirMJ over the lorvJer term and lo be a￿8 lo absorb downtuins in income. A fomula lo detemiine the level of reserves shouhj inckjde.. costs of stsff redundanues contractual relationships e.g. leases working capital requirements any outstanding ne( liabilities Insurance costs- public liabilty. emplO￿S f￿bthty, conlents and tMJikJings financing planngd inv8stments The level of ￿SerVeS required will be adjusted annually during budget setting tsking into account to above fomiula. Our current level of reserves stsnds at £2.215.239 vhhth indudes our building which has a value of £1.300,OCQ. This covers minimvm reser￿ level whi(* the Trustees have considered lo ￿ £1,000,000. Responsibilty for approviThJ the annual assessment is vested Ihe Trustees. assisted. rf appropriate. by professlonal aijwsers. The Ch￿f Execubve and Head of Finance sh¢)uld prepare a report for a rneeting of tr Trust8es •very year and make such recommendalions for adjusting the reseryes as appropriate. Prin¢ip•l risks and une•rtaintl•s The Trustees have assessed the major risks to which the ¢harity is eXp(￿a and ars salisfiÈd those systems ar& in place or specifK actions agreed lo manage these rnajor risks. A risk register 1$ updated every quarter for all risks and reviewed at each Board meetirvj. A key risk that the organisation faces is the onè shared wlh many othèrs- that of thè rèeovèry from thè imp8¢t of the Covid 19 pandemic. With reduced ¢u5tomer c*)nfidenee. r8UUitmènt challen9ès. supply ¢h8in chall8nges and price rises, our geneTated incomo has been rèduc8d. In order to mitigat• this. wè continu8 to ￿tk hi9h quality leedback from customers. m8rktrt our sefvicès widaly. stiivè to di￿r$ify our in¢omo with fvrwJraisirwJ In￿atiVeS and have adapled our operating model to bery)me a rnore agile Servi￿ provthr. Another major risk is the investrnent requred into wr teloph¢)ny and IT S￿leMS of our three merged organisats'ons. This investment has been scoped as part of cKJr 4-yBar investment pllqn and will o)ver upgrades and rationalisation in our telephony, a migration lo ShareP¢inl and a continuous improvement of our IT hardwara so that we can continue to deliver quality seryice5 for (Ader pwle. Prlncipal fundlng The principal fvndiftg sources for the charity are oJrrenlly by way of grants from various bodiès and Contract income from West Sussex County Council. Arun Dtstrict Counol, Mtd Sussèx District Council. Horsh3m Distri¢t Council and Gra￿eY Boroijgh ￿mell. We have also received NHS Clinical ComMiss￿nIng Group ICCG) nding frorn Brighton & Hove. Horsham 8 Mid Sussex. Regi% and Chanctonbury. The in¢orne from theso sources which amounts to 61% of our totsl income uThJerpins 8 maic* rmoporlion of Ihe work that we do lo meet our charitable objectNes. Page 9 AGE UK WEST suss￿ BRIGHTON AND HOVE TRUSTEES. REPORT ICONnNUED} FOR THE YEAR ENDEO 31 PAARCH 2021 Structure, g1)vernan¢e and managèm•nt Govèrning document Age UK West Sussex, Br￿3hton & Hove is registered 8$ 8 ¢harrt8ble company limited by guarantee and was set up by a Memorandum of Association. The tharity established to promote and develop seNices for older people in any manner whith now or he￿fter may be deemed by lay to be tharitable in and around West Sussex. Methods of 4ppointm•nt or •l•ctlon of Truste•s Thè management of the Group andthe Chaiity is the responsibilty of the Twstees who are electsd and wted under the terms of the Art¥des ofAssooation. Oryanisational strudure and deei$itinrymaking polieiÈs Nt)ne of the Trustees have any beneficial interest in the ￿rnpany. Al the Trustees are members of ihe company and guarantee to contribute £1 in the event of a winding up. Directors ol the eharity are appointed folbwing proposal and seconding by Ihe Board of Trustees at a full Annual Gèneral Meeting. Board members may also be cTropted during the year. The Trustee5 of the charity are responsible for the overall strategic direction and control of the chanty and receive reports and reo)mmendations from the directors and the operational leadership team. The TTUStees delegate day to day rnan￿ernent of the charity to Helen Ru who is Chief Exeujtive and Company Secretary. In so far as li is complimentsry to the charl￿$ objects, the tharity is guided by both k￿￿1 and national policy. Thè charity is a member of an Assooation nf over 130 independent chanties in England that share commitment to making life ftilfilling. enjoYa￿e and productive for all people in later life. The charity ha5 a close lationship with the County Counol, boTovgh and district counryls, and statutory health bodie5 together with other voluntary organisations both nationally and throughoul West Sussex and Brighton and Hove. These close links have proved Invaluab￿ to the charity in es[a￿lShIng improved links within the community and Klenlityng I$l￿ant policy developments and prospeclNe ftJndir#J. Policies adoptèd for thè induction and tralnlng of Trust••s I s8Nng Trustees are familiar with the praclical wort of the charity. Potential new Trustees, who are selectsd for their strengths and the diversity that they wll be able to bring to the Board, are invited and encouraged io spend some time at our head office. and if pwsible, at our other bases of activity and outreach localthes, to farniliarisè t￿MSelVeS vthh the charity and the context within t•thKh it operates. New tnjstees will be rnade fully aware of.. the tsbligations of frvstè8S. the eligibilty of Trustees. the main documents which set out ts opgratm￿l Ir4m8work for the charity induding the Memorandum and Articles. the ryjrrent financtal p)5ilim. indudiry a copy of the latesl pUbl￿hed accourts. strategies, plans and objectives. the Charity Commission's role and Ihe putrjicalions that can be obtained there from suth as their guide The Essential Trustee,. Pay pollcy for key management personnel The Trvstees set the level of remuneration of the CEO arKI other members of the SeniDT Leader5hlp Team {SLTI. This is nomially done al an annual rewew each Decemter for Im￿emental￿On in the followng April. The Chair ¥nd other Board membws and ben(*mark the sakiry in equivalent local d￿tieS and in the stslutory sector we work ￿th in makin9 their dec3sions. Page 10 AGE UK WEST SUSSEK BRIGHTON AND HOVE TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2021 Plans for futurn P•Tlod$ As we head towards our 6Sth annNèrsary yèar wè'rè bigg•r and bèttèr than ￿er. Older people and their changing needs are at thè corè of tvèr￿hlftg wè do so wè'rt eurrèntfy irn thè procèss of Working with them. lo ensure we're reflecling their needs. wants and"aspiTrtions. We're keen to hear what people would like u8 to provide in future and the existing servi(%s thèy value the most. It'5 important for us lo help people vtherevw they a￿. ￿th￿ than just expecting them to come to us. We found our centre vistlor number5 are still signfiG8nUy bwer than pre-CovTrd levels and we're determined to continue to support people at home. as as in thè community. Our eèrtrè5 rèrnain at the heart of our tharity and we're aiming lo providé morÈ modèm bLFilJings vthith can act as intèrgènÈrational hubs. In aikyitton. we're branc￿ng out into offering seM¢es in venues suth 8$ ¢afes and pubs. m8king US in(Yo a¢cessibJè acro$$ tyjr area. We're creating a team of Communty Agents who rnap I￿1￿leS to undersland the demographics and more importanuy, the needs of over 50$ in ea{* area. One 5hze doesn't fit all, 50 we know that a tnjly kxal undeistsnding. with a taik)fed Indi￿dual approach 15 gryng to be m95t helpfvl for our dients. Our forthcoming anniversary w￿1 be 8 time for refledK•n. relebration and amlytion. Our aim is to help ersable people to love later life. Where thaY5 nol possible. we belipve v* ¢xn rnake a dffterence. This year we want to provide the best possible serwces and athib8s. amplify older peoplo's voi¢•$ %bith our c8mpaigning, and be there for more people than ever befor?. Statsm•nt ol Trust••s' T•sponslbllltl•s The Tnjstees (who are also the dIred0￿ of the Chaiity the purKX)ses of company lawl are ￿5￿On$1b￿t for preparing the Trustees, rè[￿ and finanaal stat8mgnts in accordance wth appl￿bI& law and Unit8d Kin9dom Accounting StsrKlards IUnit8d ￿ngdoM G¥nerallyAccept&d Accounting PractTrcg1. Company law requires the Trustees to prepare finanryal Staterne￿ for each financd year. Under company law, the Tnjstees musl not approve the finanrial statements unless they are satisfied that they give a tTue and fair view of the state ol affairs of the Group and Ihe Charity and of their ￿¢0m￿n9 resources and application of resources, including their income and expendstijre. for Ihat per#￿. In preparing these finanrial statements, the Trustees are requi￿ to.. select suitable accounling poli¢ie5 and then 8ppTy thenl cg)nsistenI￿. observe the mgthods and principles ofthe Charities SORP IFRS 1021: make judgments and accountiThJ estimates ihat are reasonable and prudent.. state whether applicable UK AccounDng Slandards IFRS 1021 have been followed, Subject lo any material departures disc105ed and explained in thè financral statemènts- prepare the financial $latements on thè wng conc8m basts unless it is inappropriate to pr¢wm¢ that the Group will continue in t4Jsiness. The Tnjstees are ￿sponsIble for keeping adequate aC￿U￿ting records that are sufficient lo show and explain the Group and tht Chaxtys transactions and disd05e reasonable accuracy at any time the financial position of tho Group and lh• Chanty and efia￿e them to ensure that the finanoal statemènts compty ￿th the Cornparniés Act 2006. They a￿ also responsible for safeguardir¥J the assets of the Group and the Charity an hen¢e for taking rsawable steps for the prevention and detectw)n offraud and other irwularib¢$. Page11 AGE UK WEST SU&SEL BRIGHTON AND HOVE TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2021 Dlsclosurn ol Infonnation ¢0 auditoEs Eath ofthe pèrsons who are Tnjstèès at the time Wh￿ thk8 Trustees, report is appmv•d has ¢onfimwd that.. so far as that Tnjstee is awa￿. there ¢s ￿ rele¥￿t audit inf￿tIOn of whith the charitsbl& group's auditors are unaware. and that Trustee ha$ tsken all th• stèps that OU9ht to hav• b88n takèn as a Trustee in order to be aware of 8ny relevant audit information and lo est2blish that the tharitable group's auditors are aware of that information. Audltor Th8 a¢Jditors, Baldwn Scofield Ltd. have indicaied their wllingne5S to o)ntinue in off￿. The designated TnJstees will propose a motion reapwinting the auditors at a weeting of the TFUStees. Approved by order of the members of Ihe t*)ard of Trustees on 22 November 2021 and swJned on their behalf by.. John Dixon Page 12 AGE UK WEST SUSSEK BRIGHTON AND HOVE INDEPENDENT AUDITORS. REPORT TO THE AIEMBERS OF AGE UK WEST SUSSEX. BRIGHTON AND HOVE Oplnlon We have.audiled the financial statements of Age UK West Sussex, Brighton and Hove (the 'parènt charitab companVI and its subsidiaries (the 'grovp'l for the ypar ended 31 March 2021 which comprise the Consolidatad statement of financial activities. the Consolidated balan￿ sheet, the Charity balan￿ sheet. the Consolidated statement of cash flows and the related notes. induding a summary of sMJnificant accounting policies. The finanual ieporling framework that has been aP￿led in their Preparation is applicable law and Unlled Kingdom Accounting Standards, includin9 Financial Reporting Stsndartl 102 The Finanoal Reporting Standanj 8ppllcablg in the UK and Republic of Irdand. (United ￿ng￿orn Generalty Accepted A￿U￿ting Practice}. In our thè fir)anaal ststsmenis.. gNa a true and fair view of the stale of the Group's and of ihe parent charrtable companls affairs as at 31 March 2021 and of the Group's incorning resources and appliCat￿n of resources, induding its incorne aThJ expendilure for the year thèn èndèd" hay? bgen Properly prepared in accordan￿ with Uniled Kingdom Ge￿￿allY A￿pIed Ar￿unti￿j Practice; and have been prepared in a￿Kdance wth the requwements of the Charibes Act 2011. 8osi$ for opinion We conducted our audit in accordance with Internallo￿ Stsndards on Audrting IUKI {ISAs {UKI} applicable Law. Our respon5ibililies under those slandatdy arè furthèr dÈscribÈd in the Auditors. responsibilities lor the audit of the ffinancial statements section of our report. We are indeperKJent of the Group in accordance the ethical requirements that are relevant lo ¢)ur audit of tho finan¢ial statements in the United Ktngdoffl, including the Finanoal Reporting Council's Ethical Stsndard. and wè have luffill8d our other ethical ￿5￿nSIbIlItieS in accordance with these requirements. We beligvg that the audil evidence wg have Qbtsined is sufficient aThJ appropriate lo prov￿? a tsa￿5 for our opiruon. Concluslons relating to going concem In au¢Jiting the ffinancial ststemÈnts, we eonduded that thè Trustè8s' use of the goin9 concem basis of accounfing in the kYtrparatioA ol th¢ financial $latemwts 1$ apwopn"ot¥. Basèd on the work we have performed, we have not identffied any material uncertainties relating to e¥Mnts or conditions Ihat, indNidualty or collectivety, may cast signiftcant doubt on the Grryjp's or the parent charitablè eompanvs ability to continue as a concem for a period of at least ts¥e￿e months from V+then thè finaneial statements are authorised for issue. OLtr responsibilities and the respO￿bIlitIeS of the TTUStees Wilh re5pe¢a to concem are described Sn the relevanl sections of this rewt. Pa￿ 13 AGE UK WEST SUSSEK BRIGHTON AND HOVE INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF AGE UK WEST SUSSE& BRIGHTON AND HOVE (CONTINUED) Other InforMa￿0n The other intorrnation ¢ompris¢s thè informalion induded in Annual report other than ihe financial staternents and our Auditor5, rèport thèreon. The Trustèes are responsible for the other inforrnation contained wthin the Annual report. Our opinK>n on thè finaAtsal ststéments dc*s not ther the other infornation and, except to the èxtènt othÈrwisè èxplitsly stated in our r•Fort. wé do not èxprèss anyform of a55urance condus¢on thereon. Our sponsbility is to read the other inforMat￿rt 8nd. in doing $0, ¢on5ider whether the other information Is materially inconsistent wth the finanoal statemènts or wr kn(ywledge obtsined in the COUTSe of Ihe audit. OT oth8rwisè appears to b8 matèrially misstated. If wjènbfy such material in¢onsistenrAes or apparent matersal misst8tern¢nts, we a￿ required to detem)ine whether thK% giv¢s rise to • material mi5stslement in the financial ststtrm¢nts th¢msèlvès. If, based on th8 work 7A* have perfowrned. we cwdude trat Ihere is a material mi$st¥tem6nt of this other infomiation. ￿ are r4uir8d to report Ihat f* We have nothing to report in this regard. Mattèrs on vthleh wè ar• r•quir•d to raport by •xe•ption We have nothiro to repcwt in respect ol the fdlwng rnatte￿ vthere the Charities (Accounts and Rgports) Regulations 2008 requires us to report to you rf, in our opinbx.. the inforniatKJn given in the TrLtstees' report is inc¢nsislent Mi any materi81 rtr5fft ￿th the financial statements.. or the parent charitable company has rhot kept suffiLyenl accounting records.. or thè parént charitablè company financiat statèmènts are Mt in agréèment the a￿o￿nt￿l9 record5 aTrJ tvms: or we have not receive¢J all the inforrn8liDn and explanati￿$ require for our audit. R•spo*slbllltl•s of trust•os As explained more fvlly in the Trustees. responsibilities statement, the Twstees Ivtho are also the directors of tho charitable cornpany for the purposes of oynpany lawl are ￿sponSible for the preparation of th8 financial statements and for being salisfie(l that they give a Irue and fair wew, and for such inlernal control as th• Trustees detemiine is necessary to enaiAe the preparatw)n of finants8J statements thal are free Irom material rnisstatemenL whether due lo fraud OT error. In preparing the financial slatements. the Tnjstees are responsOb* for assessing the Group'$ and the pwenl charitabla companvs ability to continue as a going concern, disdosing, as applicable. mattgrs related lo goin9 con¢¢m and using the going concem basis of accounling unless the Trustees either intend to Ii4uKl¥le th& Group or the ￿rent Gharitsbie company or to cease operations. or hav& no realk%tie alternative bul to do so. Pago 14 AGE UK WEST SUSSEK BRIGHTON AND HOVE INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF AGE UK WEST SUSSEK BRIGHTON AND HOVE (CONTINUEDI Auditors, r•sponslbllltles.for the audlt of th• flnaneial stat*mÈnts We have been appointed as auditor under section 151 of the Charilies Act 2011 and report in accordance wrfh the Act and rel8vanl regulation5 made or having trffect thereunder. Ovr objectives oro to obtain reasonabl& assuranc6 ¥b)ui whgther the financial ststements as a whcle are free from inatorial misstatemenl, %Yhethef due to fraud or error. and to i55ue an Auditgrs. report Ihal indudes our opinion. Rèasonable assurance is a hvJh level of assuran¢e, but is not a guarantee that an aijdil wnducted in aCCOfdanc8 Wbth ISAS IUKI wll a￿ayS detect a maléiial misststèmsnt when it exists. Mi55taternenls can arise from fraud or error and are considered material rf. indNbJualty or in thè aggrÈgatè, thèy could" reasonably be expected to InfiVen￿ the economic deusions of users tsken on th¢ of th¢se fin•n¢ial ststements. Irregularities. induding fraud, are instsnrès of non-compli3r￿e with laws and regulations. We destgn procedures in line wth our responsibtlities. ouuined above. to detect Material misstatements in ￿SpeCt of irregularities. including fraud. The eX*￿t to whith our procedures are capable of detecting irregularities. induding fraud is detailed below.. We obtained an undèrstanding of the legal and regulatryy frameworks that are applicable to the charity and determined that thè most signthcant are Ih05e that reLqte to Ihe reporting framework in conformity wth the requirements of thè Companies Act 2006 and the rdevanl direct and indrect tsx ￿mplianCe regulations in the United lfjngdom. Wg undetstood Ag8 UK Wast SusswA. BWton & Hove 15 p)mpl￿n9 W[￿ those frameworks by rnaking gnquiriès of management to understand how ihe ¢harity maintsins and communi￿te5 its poliries and procèdures in these areas and corrotwjrated this by rtiMév*irYJ supporting ￿0￿M￿n￿￿.￿n and minutes of meetings ol t￿se charged with govemance. We assessed the suscew'bilty of the tharitys f￿￿nCIal statements to material misstatemenL indudin9 howfr8LTrJ might occur by conshlering the risk ol management override to be a fraud risk. In addition, we eonsidered th risk of management OVerr￿e by sarn ￿Ing frorn the entirè F¥¥ulalion of joumals. Ident￿ng speafic transactK)ns which did nol meet our expeclatsons based on specffic criteria and investigated these to gain an undersian¢iNJ and then agree back to Sour￿ doAJmentation. Based on ihis understanding we designed our audit procedures to identfy noncompliancè wth such laws and regulabons. Our procedures invofved veriWg that material transactKJns We￿ ￿corded thi compliance wth Finanual Reporting Standards and the (*arity SORP in conformty V*Tth the requirements of the CompAni8s A¢t 2006. A furthar dasuiptTon of L)ur responsibil￿e5 for the audit of thÈ financk?I ststements located on the Fknancial Reporting Council's websrtg aL w¥wN.frc.o .ukJa This description forms part of our Auditor5. report. Page 15 AGE UK WEST SUSSEK BRIGHTON AND HOVE INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF AGE UK WEST suss￿ BRIGHTON AND HOVE (CONTtNUED) Us• of our report This report 15 madè Sole￿ to the charitable companys tnjstees, as a boty, in acoNdance Part 4 ot the ChaTlties IA¢counts an¢S Reports) Regulations 2008. Our a￿￿1t work has been undertaken so that we mighl state to the companys trustees those matters we are required to state to them in an Auditors. report and for no other purpose. To the fullest extent permitted by law. we do not awt or assume responsibility to anyone other than the tharita￿a company and its members, as a body. for our audit work. for this report. or for the opinions we have fomied. ' &4fwA Baldwin Scofi•ld Ltd Chartered Accountants ststutory auditors 3 Nèwhous• Business Centre Old Cra1￿*Y Road Horsham Wèst Sussèx RH124RU 22 Novembpr 2021 Bal¢￿n SCOf￿1d Ltd are e1vJi￿o to 8¢1 as auditors in terrrts of sedion 1212 of the Cornpanies Act 2006. Page 16 AGE UK WEST SUSSEK BRIGHTON AND HOVE CONSOLIDATED STATEMENT OF FINANCIAL ACTIVMES (IPICORPORATING INCOME EXPENDtTURE ACCOUNT) FOR THE YEAR ENDED 31 IMRCH 2021 Unr•strict•d funds 2021 R•striet•d funds 2021 Total funds 21121 Total funds 2020 In¢ome from: Donations and legaaes Charitable activitie5 Other trat1ing aumttes Investments 823,652 2,793,286 2.241 197.931 825,993 2.991,217 1,688. 151 2,854. 186 T5,584 1.741 1.492 1.492 Total ineome 3.618.430 200.172 3,818,602 4.619.662 Exp•nditur• on: Raising funds Charitable activrfies 20,091 1347.651 20,091 3.690,559 86.721 3,035,393 342.908 Total expendltuT• Net Incomellexpenditurel before net galns on Investments 3,367.742 342.908 3,710,650 3,122, 114 250.688 1142.736) 107,952 1.497.548 Net gains on investrnents Net mo¥8ment in funds ￿l￿re other re¢ognls•d gains Other recognlsed galns: Other gains 1142.736) 107.952 1.497.857 10.000 11417361 107.952 1.507.857 N•l movement In funds Reconciliation of funds: Total.fvnd5 broughl lorward Net movement in fvnd$ 2,414.446 250.688 44S,683 1142,7361 2.860.129 107.952 1,352.272 1,507,857 2.665.134 302.947 2.968.081 2.86Q. 129 Total funds cath•d forward The Consdpdaled statement of finan081 #cli￿￿•$ incfudès aN gains and Ictssés ra¢ogni$Èd in the ￿8T. The notes on pages 23 to 47 form part of financial stateEnents. Page 17 AGE UK WEST SUSSEX. BRIGHTON AND HOVE REGISTERED NUMBER: 04146487 CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2021 2021 2020 Flxed assets Tangible assets Investments 13 14 1.414. 142 2,330 2,257 1A04.818 1,416,472 Current assets Stock5 Debtors 15 2.176 142.258 1,586.801 2.478 131,585 1,449,240 16 Cash al bank and in hand 1.731.235 1.583.303 Creditors.. amounts fallirrfJ due wthin ong year 17 (164.9711 (137.045) Net current assets 1.S66,264 1.446.258 Total assets less current liabilities 971.082 2.862,730 Nèt assèts Èxeluding wnslon liabSlFty"" Oefined benefft pension sdwnè liabilty 1971,082 2.862.730 25 13.000) (2,600) Total n•t ass•ts 1968,082 2.860.130 Charfty funds Restricted funds 19 302.947 445.683 Unrestricted ftjnds Designated fLTrnds General fund5 19 449.896 2.215.239 201.054 2,213.393 19 Total unTe#tridèd lunds 19 2.665,13S 2,414,447 T<>tsl funds 2.968,082 2,860.130 The Charitywas onliued to exemption from audit under sect*)n 477 of the Compar48s Act 2006. The members hava not Taquir•d the entity to obtain an audit for the quastion in ac¢ordan¢¢ ￿th section 476 of the Companies A¢t 2006. However. an audit is required in ac(KJrd8nce with sti¢tion 151 of Ihe Ch8riliè8 Act 2011. The Tmstègs acknowlèdge their responsibilibes for coMpl￿r￿￿ the requirements of the Acl respect to counting rècords and prèparation offinancial statemants. Page 18 AGE UK WEST SUSSEX, BRIGHTON AND HOVE REGISTERED NUMBER: 04146487 CONSOUDATEO BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2021 Tho financial statements have been prepared ￿"a￿(￿danCe wilh thg Provis￿ appficable to entiti8s subject to the small companies regime. The financial statements were approved and aUth￿S￿j for issue by the Trustees on 22 November 2021 and signed on their behalf by.. John Dlxon The notes on pages 23 to 47 form part of these finanryal ststements. Page 19 AGE UK %VEST SUSSEK BRIGHTON AND HOVE REGISTERED NUIIBER: I)414W7 CHARI￿ BALANCE SHEET AS AT 31 MARCH 2021 2020 Note Flxod ass•ts Tangible assets Investrnents 13 14 1N02,561 2,258 1,413,672 2,330 1A04,a19 1.416.002 Current assets sttscks 15 16 2.176 142.257 1.579.487 2.478 131.584 1.440.691 Debtors Cash at bank and in hand 1.n3.920 1,574.753 Cr¢ditor5.' arntyjnts falling duè v*ithin one year 17 1161.35n (132.289) Net current assets 1.$62.$63 1.442.464 Total ass•ts less eurv•nt liabilitl•s 2.967,382 2.858.466 N•t ags0ts •xcludlng ynsion liability Dgfined benefit pOns￿n schemo liabilty 2.967.382 {3.000} 2.858,466 (2,600) Total n•t ass•ts 2.964,302 2.855.866 Charity funds Restrictéd funds Unrestricted funds 19 302.947 445.683 Dèsignated fund$ General funds 19 449,896 2.211,539 201.054 2,209,129 19 Total unrestricted funds 19 2.661.435 2,410,183 Total fund 2.964.382 2,855.866 The Charity$ ngt movem$nt in funds forthe was £108.516 (2020- £1.508.013J. The Charity wa$ entiled to oxèmptb)n audit under Sect￿ 477 of the Companiès Aet 20C6. The Members have not required the entity to thain an audit fty 1he ywr in question in ?￿OrdanCe wilh sect*Jn 476 of the Companies Act 2006. However. an audrt ￿ require(l in accordance section 151 of Ihe char￿8$ Acl 2011. Page 20 AGE UK l•VEST SUSSEK BRIGHTON AND HOVE REGISTERED NUMBEIL. 04146487 CHARITY BALANCE SHEET {CONTINUEDI AS AT 31 MARCH 2021 The Trustee5 acknowl￿• th*￿ rèspK)nsibifilies for comp￿Tra wilh the requiTemenls of the Act ￿1h resp•ct to accounting records an(5 preparation offfinancial ststements. The financial statements have been prepwed in acccffdance with the provisions apFduble to ￿nt￿eS subièrt to the small ￿mpanIeS wirre. The financial statements were approved and aubknsed for issue ty the Trustees on 22 N0￿Mb￿r 2021 an(J s¢gned on their behalf by. John Dlxon The notes on pages 23 10 47 fomi part of these fmanaal stalemenls. Pagg 21 AGE UK WEST SVSSEK BRIGHTON AND HOVE CONSOLIDATEO STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 IAARCH 2021 2021 2020 Cash flows from op•rnting •¢tl¥ltl•$ Net cash used in operating acbvibes 164.878 130.815 Cash flows from Investlng acknv5tses Dividends, interests rents from imi•stments Purchas& of tangible fixed assets 1,492 127.7201 1.741 {96.805) 3,000 10.000 Nèt rAsh used In Inv•stSng actlvltl•s 126.2281 182,0641 C•$h flows from financing aetMtI•s {8.4O31 (11,400) Plet eash us•d In financlng acilvStSes {8A031 111.4001 Change In cash and cash equivalents in th¥ y•ar Cash and cash equivalents at the beginning of the yEar 130.247 37.351 1,449,240 1,411,889 Cash and cash gqulvalènts at th• end of th• y•ar 1.579.487 1,449.240 The nots$ on pages 23 to 47 form part ofthesa financial stalonwnts Page.22 AGE UK WEST SUSSEL BRIGHTON AND HOVE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR EMDED 31 klARCH 2021 General inforniation Age UK West Sussex. Brighton and Hove is a private company limited by guarantee incorporated in England and Wales. The ￿lstered Offi￿ address is ksted under administratNe details on p48 1. xcounting policies 2.1 Basls of preparation olfinancial 5tatsments The finantial statèmènts have prnparèd in aCCOTdanee with thè Chariti8$ SORP IFRS 1021- Accotjnting and Reporting by charit￿.. Slatement of Recommended Practice app5icable lo tharities prepaiing Iheir accounts in acwrdance wth th& Finano81 Reporting Stsndard applicable in the UK and Republic of Irelan(I IFRS "1021 {èffeclivè 1 January 20191. tha Firnancial Rekxxting Standard appkncable in the UK and Republi¢ of Irgt8nd IFRS 1021 and ttig Companies Act 2006. Age UK West Sussex, 8rvJhton and Hove mèèts thè dsfinition of a publi¢ benefit entty undeT FRS 102. Assets and liabilibe$ are irtthlty r•cognisèd at IN"storical eost or transaetion value unle$$ otherwsÈ statèd in thè relèvant acct￿nb"n9 pjlity. The Consdidated statemenl of finart¢ial activibès ISOFAI arn1 COnSd￿laIed balance sheet consolidate the finanual statèments of th$ Charity arvj rfs sub$idiary un(l&rtaknng. Th$ results of the subsidiary are cons9lidated on a line by lin¢ basis. The Charity has takèn advantsge of th• exemplion allow•d under s•clion 408 of th• Compani•s Acl 2006 and has not prnstnt8<1 its own Stalemènt ol finanual acliwties in th8se financial statèmènts. 22 Golng eone•m The a¢¢ounts have been prepared ￿ a g￿ng concem basks Ithich has taken into consSderation the impact of the Covid-19 pandenK. 2.3 Ineome AJI Income Is recogni￿￿ once the Lharity has entillement to the Income. it is probable thal the in￿rne vhll b8 ra￿1Ved and thè arThxntof income receivable can be measured reliabty. Th$ r¢cognition of income from legacies k8 dependent on estsblishing entittement. the probability of r￿lpl and thè abilrty to èstimate wrth suffici&nt accuracy the amount raceivable. Eviden¢$ of ent￿èrn&nI to a lègacy èxists wh8n the Charity has sufficient ewd&nc8 that a grft has bèèn loft to thèm (through knovAèdgè of thè existence of a valhl ￿11 and the dèath of th• bènèfactorl and th• exe¢utor is satisfied that thè property in question wll not be required to sattsfy claims in thè estAto. Receipt of a legacy musl tx re￿3n]sed when it is pmbable Ihat rt wll be r8ceNed and the fair value of the amount re￿Nal￿e. whid) ￿11 generalty be thè Èxpecled cash 8mounl lo be distributed lo the Charity, can be reliably mtrasured. Grants are induded in the Consolhlated stslement of financial actNitie5 on a receivab18 basls. The balance of income received for specific purkM)ses but rKJl expended during the period is shown In the r•levant funds on the Balance sheet. Where income is received in advance of entitlement of r8cèipt. rts rècognition is dèferred and ￿￿Udert in creditors as deferred I￿Om8. Whèr8 ant￿￿￿￿nt O¢¢Lrrs bèfore in¢omÈ rÈcèNed. Ihe income is acc￿j￿. Income tsx recoverable in rn18tion to inveslm&nl inLx)me * reo)gnised at Ihe time the investment inwme is receivatAe. Pago 23 AGE UK WEST SLISSEL BRIGHTON AND HOVE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IblARCH 2021 Aeeounting po15cles IconUnued) 2.4 Expendltur• Expenditure 15 recognised once there Trs a legal or fA)nstruclive 0￿•gat￿)n lo transfer economic benefft to a third party. it Is prOba￿e that a transfer of economic benefits wll be ￿qUired in seWemenl and the amount of the otAigation can be measured reliabty- Expenditure is dassified by activity. The costs of each activity are made up of the lolal of direct Costs and shared costs, including support costs involved in undertaking each ath'yity- Direcl rxjsts attributable to a single achvty are allctated directly to that activity. Shared costs wh￿th contribute to more than one activity and support cmts which are not attn'but8b￿ to a sirgle athity are apportior￿d between those actiwties on a basis consisienl with the use of resources. Central stsff cosls are allocated on the basis of lime spent, and depreaation charges allocated on the rK)rtr)n of the a55eVs use. Expendrture on raising funds indude$ all tr￿nditur￿ inrAJrrÈd by Ihe Group to raise fijnds for its charitable purposes and Trndudes costs of all kndwaisin9 actr￿t￿5 events and non-charItatr￿e trading. Expenditure on charitable activibe5 1$ Incurr￿ on dirèctty undtrrtsking the 8Ctiviiie5 vknith fijrther the Group's objecbves. as well as any a5￿claI¢d SUPFQrt wsts. Gran15 payable are tharged in the ypar when th• offÉr is madÈ except in those ￿Se5 where the offer is cOndit￿nal, suth grants being reg)gnised as èxwdtbJre when the conditions attaching are fulfilled. Grants offered subjert to conditi.ons 7whith hgv$ not been met at tho year end are noted as mmilment, but not accrued a5 expenditure. l eXperKlitU￿ 1$ in¢lusive of irrg¢ovwablo VAT. 2.5 G9￿MM9nt grants Govèmmènt grants rdating to tangib￿ fixed assets afe treated as deferred income and rel•as•d to thè Consolidated statement of finanaal activrties over Ihe expected useful Iwes of the 8558ts concemed. Other grants a￿ credrted lo the Cortsol*Jated statement of financkl acti￿￿eS as the rdated expèndrture is incJJffed. 2.6 Inter•$t r•c•ivab IntÈr•st on funds hekj ￿ t1eposit is indLwJed Vlthen receivab￿ and the amount can b• mea$ured rèliably by thè Group. this is nomialty nobficatson of the interest paid or payable by thè institution with whryn the lunds are deposrt8d. Pap 24 AGE VK WEST SUSSEX. BRIGTrThON AND HOVE 140TES TO THE FINANCIAL STATEMENTS ' FOR THE YEAR EMDED 31 MARCH 2021 eounting pollcl•s Icontlnued) 2.7 Tangible fix¢d #sstts and d•prnelatlon Tangible r￿ell assets ￿$tIng £500 Of morè arè capFtaliged reco9nised when future er>Jnomlc benerrts are probable 8nd th8 cost orvaluè of lh$ asset can r)e m*asu￿ rel18￿y. Tangible fixe(l assets are intslly rewnised at ¢¢st. After recoynrbon. under the revaluation model, tangib￿ fixed assets whose fair value ¢an be measured reliabty shall be carr*ed al a revalued amount, beiro their fair value at the date of revaluatitin less any subsequent accurnulated deprerAa)on and subsequent a¢ewmulated imp8im*nt losse$. Revaluations a￿ made sufficient regularity to trnsure that the carying amount does not dthr maierially from that which would ￿ tstermined using taÈr value at the end of the reporting date. Fair values are detennined from market-based wderTr¢è by appr8i581 that is normally undertaken by professionally qualified valueF3. If there 1$ no mark8t-ba5ed evKlen¢e of fair value because of the specialised nature of Ihe tangl￿e fixe(l asset arKI it 15 rarely sokl, except a5 part of a O￿lI1but1￿j business, a Charity may need to estimaie tsir walue usin9 an inttjme or depTeoated replacement cost approach. Gains and tosses on revalualion are recrsnised in the Consolidaleil statemenl of finawal activibes, with a separate revaluation re3fft being $hown in the Ststemtnt of fvnds note. Deprecialton is tharged 50 as to 8lk)¢8te the ￿$t of tsngibte fixed assets less their residual value over their esbmate(l uselul lives. on 8 reducing balancé bass. Dveraati￿ is wowded on the followirvJ ba5iS: Freehold propety . Office equipment 25% redu¢ing bai*nce 2.8 Investments Fixed asset investments are a form of financial instrumont ¥re inithalty rec¥wised al their transaction cost and subsequenlty measured at fair valuè at the Balance sheet date. unless the value cannot be rneasured rel￿t￿Y in whith ¢asÉ it 1$ measurÈd at cost less impairment. Investrnenl gair and losses, whether realised or unrealised. are combined and presented a5 'GainsllLossesl on investments, in the Consd•Jat&J ststement of financial activities. Investments in subshliaries are valued at C05t less prowsion for impainr*8nL 2.9 Stocks Stkykn are valued at the I￿r of cost and net ￿lisa￿e value after making due alltsw8ftce for obsolete and ￿0W-rnoWr￿3 Sto¢ks. Cost inclu￿$ all dirsct costs and an appropriate proportion of fixed and variable overhead5. 2.10 O•btors Trnd¢ and other d•btors ar• Tecognised at the setUem•nt aMo￿t after any trnd• discount offered. PrèpaJTrents Èr¢ valued at the amount prepaid net ol any trade discounts due. 2.11 Cash at bank and in hand Cash at bank and in haThJ indudes cash and short-lerm highty liquhj investrnents with a short maturfty 0fth￿? month$ or less from the date of acquisi11￿ or cp8ring of the deposit or slmllor ac¢ounL Page 25 AGE UK ￿ST SVSSEK BRIGHTON AND HOVE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Aecounting policies (continued) 2.12 Liabllltl•s Liabilities and provrsKJn5 are recognised ￿en there is an obligabon at the Balance $hoet dale ¥$ o result of a past event, it is probable that a transfer of economic benefil will be requirsd in $èlU¢mont. and the amount of the sethement can be ests'mated Tdiably. Liabilibes are reownised at the amount Ihat the Charity antiopates it ￿11 pay to seille the debt or Ihe amount it has received as advanced payments for the goods or seryices it must provide. Provisions are measured at the best estimate of the amounts required to setue the obligatwjn. Where the effect of the time value of money ts material. the prowsion Is based on the ￿s¢fit valug of thos¢ amounts. discounted al the pre-tax discount Tale that Teflects the risks spècific to thè liabTrlity. Th unwinding of the discount is recognised in the Consolidated statement of financial acbvitiès as. finance cost. 2.13 Flnancial instruments. The Group onty has finanual assets and financial liabilitses of a kind thal qualfy as basic financkal instnjments. Basic financi￿ inslruments are initially recognised at transaction value and subsequendy measured at their sewement value vKlh the excepbon of bank klans which are subsequenuy rneasured at amorb8ed cost usin9 the effe¢Aive interest n*thod. 2.14 Pensions The Group operates a defined contribution pens￿￿ Scheme and the pension charge represents Ihe amounts payable by the Group to the frJnd in respect of the ypar. Thè Group opèratès a dèfined bÈfi•fits pènsTh schèmè and the per￿m)n tharge is based on a fijll actuarial valu8b.on datèd 31 March 2019. 2.15 Fund aecounting General funds affj unrestridgd frJnd$ vthich arg avali for usg ¥t thg discrebon of lh8 Trustees in furthoranc8 of thè genèral obiectsvos of the Group and whi¢h have not been destrJnated for other purpo￿$. Dèsignatèd funds eompris• unrnstrict•d fvnds that havè bèèn sèt asidÈ by the Trustees for particular purposes. The aim and us& of ea¢h deswjnated ftjrbd is sel out in the notes to the financial Restricted fvnds are funds whith are to be used in a￿rdance with specific restrictions imposed by donor5 or which have been raised by the Group for parli(xJlar purposes. The costs of raisiny and administering such funds are tharged against Ihe speofic fvnd. The aim and use of •ath restrided ftjnd is set out in the notes to the ffinanci￿ statements. Investment income. gains and kisses are alkxated to the appmpriate fufid. Pag9 26 AGE UK WEST SUSSEX. BRIGHTON AND HOVE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 PIARCH 2021 In¢om• from donatloTrs and l•gacl•s Unr•strlcted R•strfet•d . funds lunds 2021 2021 Total funds 2021 Don•Uon$ General donatitsns and fundT8ising 230,700 253,476 230.700 253,476 2.241 Fundraising income- restricted 2,241 Total donation in¢ome 484,176 2.241 486.417 Legacies Grants Governmenl CJRS grants Similar incoming [¢sou￿$ 45,748 81,840 208.189 3,699 4S.748 81.840 208,189 3.699 Olher voluntary incoffle 339.478 339.476 823.652 2,241 825.893 UnTrstricted funds 2020 Restncted fvnds 2020 Total fvnds DonatK)ns 25,454 13.053 1.603.127 1.750 40, 194 65,648 15,553 1.605.200 1.750 Legacses 2.073 G0￿mment CJRS grants 1.643.384 44.767 1.688.151 Income frj[e gtstwable I￿AORG￿l￿1TtON L4yd tAppnses kY>ffWgÈrlWR ORQ4NISATIONI 31.¢00 149 145 145 1￿485 99.150 53.11fj 10S.ODO 14OOD 49,150 $9.774 R•¢UThJarrya￿ rnaiwThtypayIOURPEO￿E} Pmp*tydeveh¥ment{OUR CUSTOIIERS} (￿ce marte￿￿e l(MJR CUST 31 Ilar¢h 2021 DemenOA wa)t Mglp at oma trom Hrwitalws Horsharn4*1rtt {1,704} 1475 3•.975 12A75fr P7.5001 P2NDOI 12.5001 I26,￿} 1475 Cknp 2W,172 3Q1947.. Total olfvnd UfjQ.13• U14.9)2 lJ.71Q65Ql 2.9*082 Pagè38 FOR TMEYEAgEIW31 ¥ARCH 2¢21 Slakn•Thtallunds.yior>Yv Trn7sfw5 Gwns/ 31 Mar)) (Lo&w¥ Z020 DMwJThat¢dfvnds ¥jh￿ IOJR (WE￿A￿oNsI ategKp￿inry b)erkSU￿ hA￿e{￿ROR￿¥1I$ATrONj LtyalwBn5B5 ￿5t[r￿louR OR&4N1&4TIONI 2&ikXT 145 flOf5J fX8SOJ . t￿726) 49.150 59.771 RÉthndarw?ndrnaknTrty paylOURPEOPLEI F*op2rtydvwoWMnt{OURCIJSTOklERS} o￿l￿rna￿lIen￿ (OUR CUSTlJk4ERSI 15.IMXI ft4NXJJ 32T. 20f.054 •n•rnlknd Gthigr4lfvr 639.W 1.78¢849 (22&ZL iO.Wg 2.213.393 f*di.6TiJ 2.414.44F Pay40 19. St4temeniolknd* I¢￿ WelfaFe 112Y& joij 49YT 14.055 13T. 474811 . Y5rf.948 449T 164. 220.192 324OiJ 7f.t 2421T f3a156 29.103 (47&5WJ 0.593 7.592 31.8T4 162,299 Burye5s HI1•*ty￿be 24.566 (157.522J (2ti.07n rJ?0.013J f69.WJ f17.M2J (74.799J (t8Q311J fil￿) ¢ILK524J (137.& r3&996J (2￿319j 14.073 It.2YS Y86.311 f3. ICi8.524 137.8 T*ehm seiue 141￿￿ (14Z6WJ 20.455 126.455J 4¢9 (4Q934J 134495 Pl.2flJ Page 41 FOR THE YEPJI EIKIED 31 fi•JicH1021 19. Statement (¢th￿¢￿} Tfft7shE Gw¥ 31 March 0￿$j 2020 38&31f Z82183Y P.Th7.4593 1.3522TI 2869.130 Pay&42 FOR THEYEfvRENDED31 Ii*RCH2O summary offuffld 3ummary offvnd&.¢wr•rty B¥an¢• at 31 Tnn$fer 120.628Tr 269.4n 449.896 121&393 ￿1&431 IJJ47.114Tr 12WAN) 2.215.238 20ts.172 1312,>X 302,947 G•ier*fur Resldcied*Jfy IMIJO U1&6fd 11710.65W 2.we.082 31 Ilarth tLosse8) 44ty 460 1.78IW f2422• 385.311 Z82163f R791459? 10.309 2.213.393 445.683 1.351271 4.61ZthJ AIYS.1 ?q309 2.8OQI PByp43 AGE UK THEST SUSSEX. BRIGHTON AMD HOVE NOTES TO THE HNANCIAL STATEMENTS. . FOR THE YEAR ENOED 31 MARCH 2021 21. Analysis of n•t assets between funds Artalysis ol net assets between funds - ¢urrent ye•r Unrestrlcted Restrlcted funds funds 2021 2021 Total lunds 2021 Tangible ffixed assets Fmed asset investrnents Current a55ets Creditors due vAthin one yEar Provisions for liabilitie5 and thar9es 1.336,129 2.257 1.494.720 {164,9711 13.0001 66.432 1,402,S61 2,257 1.731.235 {164,9711 13.QOOI 236.515 Total 2,665,135 302,947 1968.082 Analysls of net a$sèts fund$- prlory•ar Unmstiicted funds 2020 strict•cl fvnds 2020 Total funds 2Q20 Targible fixed assets Fixad asset investments 1.327.421 2,330 1.224.342 (137,045) f2.6tKIJ 86.721 1.414. 142 2.330 1.583,304 (137,045) f2.600) Current assets Creditors due within year Piovisions for liabilities and char9es 358.962 Total 2,414.448 445.683 2.860, 131 Pa9& 44 AGE UK WEST SU&SEK BRIGHTON AND HOVE NOTES TO THE FINANCIAL STATEMENTS FOR ThE YEAR EMDED 31 IAARCH 2021 22. Reconciliation of net movement in fvnds to net cash flow from operatlng actlvltl•s Group 2021 Gmup 2020 Net Income for Ihe year las w Statement of Finanoal Acbvit*s} 107.952 1,497,857 Adjustments for. Dep￿cia￿"0n charges Losses ￿ inveslrnents 38.831 173} 11.492} 302 110.6731 29.631 21,301 (309) (1.741) 146 (81.476) 1,106 (1.327,069) 21.000 D8craase in stod(s Increase in debtors Inuea$e in ¢roditors 400 N•t cash provld•d by op•ratlng actMtI•s 164.878 130,815 23. Analysis of tssh and eash equival•nts Group 2021 Group 2020 Lash rn hand 1.579.407 1.449.240 Total Cash and eash •qulval•nts 1.579.497 7,449,240 24. Analysls of chang•s In n•t d•bt At 1 April 2020 Cash flows At 31 March 2021 Cash at bank and in hand 1.449.240 137.561 {2,6751 114,3771 1,586,801 12.675> (14.377> Bank overdrafts repayable on dem¥nd Debt due within l 1.449.24 120,509 1,569.749 Pagg 45 AGE UK WEST suss￿ BRIG￿￿oN AND HOVE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 25. Ponslon commltm•nts The group operates a defined contribub'on pension stheme. The assets of the schemè are hekl s•parately from those of the group in an indeFendentty adrnini8ter&J fund. The penslon cost chaige ￿Presents contributions payable by the group to the fund and amounted to £81.994 12020 - £59,578}. Contributions amounting to £14,337 were pardN6 to thè fund at the balance sha•t date and ar• indvded in credilors. Thè Gmup operates a defined benefil pension scheme. The disclosures be]ow are provKled In respect of the Age Concem Seclion ol thg Agè UK Reliremant Bensfrts S¢h¢m* lth¢"S¢hgme"l. rhe level of beneffts prtsvid￿ by thè Sth•mè de￿ndS on a mtmb8rfs18n9th of S•Tvice and"their salary 81 Iheir datè of leaving thè Seh•m•. This sèth.on of the Scheme elosed to firtUTè accrual On 30 Novtrrnber 2008. A tull actuarial valuatth￿ of Ihe Stherne was at 31 Marth 2019 and Ihe results of this valuation have been updated to 31 Marth 2021 by 4 qu81rf￿ independent actuary. The expected Employer contributions foT the Ènding 31 March 2022 aT• TBC. Thw ¢ontiibutirms indude an allowance for •Jministration expenses and PPF bwies. The results of the latest fundin9 valuation at 31 March 2019 havè bèen adjustèd to thè bal8nce $hè&t datg taknng account of expe￿n￿ over the ppriod gncè 31 Mar¢h 2019. th8ng$$ in market condition5 and differences in the fina￿13[ and demc43raphic 4ssumpb"ons. The present value of the ddmed tenefft obligabon was measured using the Projècted Unrt Mèthtsj. Prinrjpal acluarial a35umptions al the Balan¢e sheet dale (expressed as weighted average8): At 31 March At 31 March 2021 2020 Discount rate for schefflè liabiliti•s Futurè salary increases 2.10 2.20 NIA 3.10 2.so 3.10 2.30 2.50 2.80 1.80 RPI Inllation assumption CPI Inflaiion assumptiTh At 31 March At 31 IAareh 2021 2020 Yea Mortalty rates {￿ years) - for a male 8ged 65 now - 8t 65 for a male aged 45 nc - for a female aged 65 now - at 65 for a female aged 45 rthv 22.1 23.1 24.4 25.6 21.7 22.7 24.0 25.2 Pag& 46 AGE UK WEST SUSSEL BRIGHTON AND HOVE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 25. P•n$lon commltm•nts Icontlnu•d) Thè Group's share of the assets in Ihe scheme was: At 31 Mareh At 31 March 2021 2Q20 £OOO$ £OOOs Equities Div•rsified grovAh fund Property Cash and othèr liquid assèts Matching ass•tsthnds 59 28 10 285 Total falr valu• of assets 432 401 The actual retLwn on assets was £40.000 (2020- £77.CKQJ. The amounts recc4Jnised in the Consolidated statement of finarKial acti￿￿e$ are a5 followB: 2021 2020 Current seryice c05t 5.700 Movernenls in the Present v8lue ofthe d¥fift￿ bènèfft otlytitin wtrt a$ folknvs: 2021 Opening defined benefit ot4lgal￿n Current service Ixxt 3,000 5.700 Clasing d•fin•d b•n•fft obllgatlon 8,700 Movemènts in the falr valu8 ofthe Group's sharg of $d￿m8 a￿ts w8r8 as follows: 2021 £OOOs Opening fair value of scheme assets Interest inc4)me 401 Acluarial gains Contributions by emploser Benefits patd Administrat￿ cost incurred 31 1131 121 Closlng faSr valu• of scheme •s$Èts 432 Page 47