Reglstered Company number: 04146487 {England and Wale5) Reglstered Charlty number: 1086323 CONSOLIDATED FINANCIAL STATEMEMrs FOR AGE UK WEST SUSSEX, BRIGHTON AND HOVE (LIMITED BY GUARANTEE) FOR THEYEAR END 31 MARCH 2024 AGE UK WEST SUSSEX. BRIGHTON AND HOVE (LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION Trnstees John Dixon Paul Allen {re5igned 1810912023) Linda Dyos Caroline Instance Sam Jones (resigned 28111120231 Philip Lan5berry (resigned 01/11120231 Amanda Latham Maureen Vallon (resigned 0211112023) Peter Worster Sarah Watson (appointed 3Vio12023) Secretary Helen Rice Charity Number 1086323 Company Number 04146487 Reglstered office & Principal Addre55 29-31 Prestonville Road Brighton BNI 3TJ Auditors TC Group The Courtyard Shoreham Road Upper Beeding Steyning West Sussex BN44 3TN Bank CAF Bank Limited 25 King5 Hill Avenue Kings Hill West Malling Kent ME19 4JQ Lloyds Bank PIC 10 East Street Chichester West Sussex P019 IHJ AGE UK WEST SUSSEX, BRIGHTON AND HOVE (LIMITED BY GUARANTEE) CONTENTS Page Tru5tees' Report (Incorporating Directors Report) Statement of Trustees. Responsibilities Report of the Independent Auditors io Consolidated Statement of Financial Activities 14 Consolidated Balance Sheet 15 Charity Balance Sheet 16 Consolidated Cash Flow Statement 17 Notes to the Financial Statements 18 AGE UK WEST SUSSEX, BRIGHTON AND HOVE (UMITED BY GUARAwfEE) TRUSTEES, REPORT (INCORPORATING THE DIRECTORS REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The Trustees {who 3150 art as Director5 for Companies Act purposes) present their annual report together with the audited financial statements of Age UK West Sussex. Brighton and Hove for the year to 31 March 2024. The Trustee5 confirm thatthe Annual report and financial statements of thediaritable company and group complywith the current statutory requirements, the requirements of the charitable CoMpan￿S governing document and the provisions of the statement of Recommended Practice ISORP) applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS1021 (effective l January 2019). STRUCTURE. GOVERNANCE AND MANAGEMENT Age UK West Su55ex, Brighton and Hove is a charitsble company limited by guarantee, incorporated in England and Wales on 23 January2001 and registered with the Charity Commission on 26 April 2001. In the event of the charitable company beingwound up members are required to contribute an amount not exceedin8 £1.The governing document of the organisation ts its Article5 of Association. The charity is established to.. To promote and develop serwces for older people in any manner which now or hereafter may be deemed by law to be charitable in and round West Sussex or such other areas as the tru5tee5 shall determine from time to tirne (for the avoidance of doubt this shall include the areas of Portslade, Brighton and HOVÈ) Ihereinafter called "the area of benefif). To provide or a55iSt ID the provision of facilities in the interest of social welfare for recreation. community participation or other leisure time occupation of individuals who have use of such facilities by reason of their age, infirmity or disability. financial hardship, or Social circumstances with the object of improving conditions of life in the community at large. The management of thegroup and the charvty isthe responsibility of the Trusteeswho are elected and co-opted under the terms of the Articles of Association. None of the Trustees have any beneficial interest in the company. All the Trustees are members of the charitable company and guarantee to contribute £1 in the event of a winding up. Directors of the group and charity are appointed following proposal and seconding by the Board of Trustees at the full Annual General Meeting. Board members may also be co-opted during the year. The Trustees of the charity are responsible for the overall strategic direction and control of the charity and receive reports and recornmendations from the directors and the operational leadership team. The Trustees delegate day to day management cf the charlty to Helen Rice who is Chief Executive Officer (CEO) and Company Secretary. As far as it is complimentary to the charitvs objects. the charity 15 guided by both local and national poliry. The charity 15 a network member of Age UK an Association of over 125 independent charities in England that share a commitment to making life fulfillin& enjoyable and productive for all people in later life. The charity has a close relationship with the County Council, borough and distritt councils. and statutory health bodies together with other voluntary organisations both nationally and throughout West Sussex. Brighton and Hove. These close links have proved invaluable to the charity in estsblishing improved links within the community and identifying relevant policy developments and prospective funding. All serving Trustees are familiar with the practical work of the charity- Potential new Trustees, who are selected for their strengths and the diversity thattheywill be ableto bringto the Board, are invited and encouraged to spend some time at our offices, and if possible. at our other bases of activity and outreach locations, to familiarise themselves with the charity and the context within which it operates. New Trustees will be made fully aware of.. The obligations of Trustees. The eligibility of Trustees. The main documents which set out the operational framework for the charty induding the Memorandum and Articles. The current financial position. including a copy of the latest published accounts. AGE UK WEST SUSSEX, BRIGHTON AND HOVE {LIMITED BY GUARANTEE) TRUSTEES, REPORT (INCORPORATING THE DIREcfoRS REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The strategles. plan5 and objecttves- and The Charity Commission's role and the publications that can be obtained there. such as their guide 'The Essential Trustee. The Trustees set the level of remuneration of the CEO and other members of the Executive Leadership Team IELTI. Thls is normally done at an annual review each December for implementation in the following April. In making their decisions, the Chair and other Board members review and benchmark the salary in equivalent local charities and in the statutory 5ectorwe work within. PUBLIC BENEFIT The long-term vision and ambition of the charity is an area in which everyone can love later life. Our mission is to respond to the needs of local older people. working in partnership with them and others, to provide activities and quality servi￿5 that influen￿, and enable choice, independence, and wellbeing. In setting objectives and planning for activities. the Trustees have considered guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit- running a charity IPB21'. Vision. rn1￿10n, objective5 Vlsion The charivs vision is a world where everyone gets to Love Later Life. Age UK West Susse& Brighton & Hove is a local. independent charity that has been supporting older people acr055 the county for over 65 years. Mission We want to improve the quality of people's later life through community and home-based services. We will achieve this by beingthe leading provider of servicesfor older people West Sussex and Brighton & Hove. Our services will be informed by andlor co-designed with our customers. staff and volunteers and will aim to enhance customers. access to and experience of services provided by ourselves and our partner5 in the public private and voluntary Sectors. Objectives Be Informed Our information and advice servi￿5 will help people. including ca￿rS. to know their rights and make informed choices. Be Connected Our community and building based social clubs, events and activities will provide opportunitie5 for people to get out. have fun, socialise and build friendships. Be Healthy Our wide range of health and wellbeing activities -including fitness classes, relaxation, hobby groups, as well as 'spa' treatments will enable people to keep active and healthy. Be Independent Our home-based services will support people to stay independent for longer within their own home, including to prevent- hospital -admissions and after a period of ill health. What wewant to achleve Our vision is to inspire and enable people in West Sussex, Brighton & Hove to Love Later Life. AGE UK WEST SUSSEX, BRIGHTON AND HOVE (LIMITED BYGUARA￿fEE) TRUSTEES, REPORT (INCORPORATING THE DIREcfoRS REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Whavs important to us Puttlng our customersfirst Improving and increasing acce5S to our services and respondin8 swtftly to customer needs expectations and aspirations. Belng trusted Committed to equality of access and opportunity, inclusivity and diversity. and deliverin8 consistent and high-quality Servi￿5. Making a differen Supporting people to achieve the best P055ible outcomes through our services and by promoting a culture that inspires creativtty, innovation and collaboration. Being sustuinable Ensuring that our services are reasonably priced and affordable whilst working to make a positive impact on society, the economy and the environment. Belng resilient Anticipatin& preparing for. respK)ndingto and adapting to changes and unexpected events that might adversely affect our services and operations. Age UK West Sussex, Brighton and Hove Ihereinafter AUKWSBH) has supported older people through the ongoing challenge of the Cost-of-Living crisi5 and through post-covid recovery which has significantly affected the finances of older people and continues to affett their mental and physical health. contributing to loneliness. frailty, and depression. AUKWSBH made significant efficiencies in 22123 and we ensured we made the best use of resources and were able to quickly manoeuvre at this diff itult financial time. We have worked hard through a wide range of income Eenerating and fundraising avenues in 23/24 and have seen an excellent financial year being delivered due to this d iligent work right through the organisation. We remain strategic partners with local government, the NHS and charities alike and have consistently ensured that we have pivoted to align ourselves with new developments and structural changes Wlthin the wider system we work within. We continue to grow and develop relationships locallyto ensure we can deliver commun1tyservi￿s which can reach the maximum number of people and in a way which ensures local integration with the widest health and social are systern5 - integrated care teams (1￿). Volunteers Volunteers are the lifeblood of AUKWSBH. Without them, the charity could not deliver its extensive range of existing services or develop new ones. The charlty has seen a reduction In the number of artive volunteers with just over 220 volu nteer5 donating their time, this is for a variety of reasons including better accuracy of data held on volunteer numbers and the impact of Covid- 19 on those who would be volunteers. eg. Leaving due to their own poor health or that of a close family member. Their efforts still equate to over 34,320 hours of donated time throughout the year. Whilst this appears to be 3 decline from the previous year. the figure is based on a conservative estimate of the hours contributed. ie. Everyvolunteer undertaking only one volunteering session of 3 hour5 per week. The reality is some volunteers will be doing far more volunteering than this but accurate data regarding exact hours undertaken every week is difficult given the nature of volunteering and the vast array of ways they can contribute. Volunteers are matched to roles based on their intere5t5. skills, and experience. Roles are diverse and include helping AGE UK WEST SUSSEX, BRIGHTON AND HOVE (UMITED BY GUARAKfEE) TRUSTEES, REPORT (INCORPORATING THE DIRECTORS REPORTJ FOR THE YEAR ENDED 31 MARCH 2024 with activities or In cafes. visltinE people in their own homes to support them to remain independent (Support at Home after Hospital), providing information to callers about Services and support available across Sussex as well as providing administrative support and 83rdening within our ￿ntres. Volunteers also play a crucial role in Supporting many fundraising events. We undertook our second annual Volunteer Survey in 2023. The survey was introduced in the previous year to get feedback directly from our volunteers to inform them of their training and support needs as well as supporting future recruitment. Over 97% of volunteers who responded stated they found volunteering at AUKWSBH meaningful and 90% felt valued and respected when they volunteered. Across the year the volunteer team have held numerous surgeries and celebrated National Volunteer week to say thank you to those who have supported us. The value of volunteer hours this year was more than £374,088 and their invaluable support allows AUKWSBH to continue to deliver great services across its area. The charity remains incredibly grateful for everything they do. Investment policy AUKWSBH have the power to invest as contained in its governing document. At present, AUKWSBH holds only small investments, whith indude a very small shareholding in National Grid and in its subsidiary Age UK West Sussex Enterprises Limited. Responsibility for sanctioning and approving investments lies with the Trustees who will seek professional advice in these matters if they consider it appropriate. Such proposals will be prepared by the Head of Finance in liaison with the CEO and Executive Lead Team with appropriate professional advice. The broad investment policy is: Investments should be made to strike a balance between a good return on investment and security- To re-invest investment income; To review investments annually- To consider ethic31 factors only insofar as these reflett the charitable objects of AUKWSBH and are con515tent with charity law; and To ensure that an appropriate level of accessible fund5 is maintained. In additlon, procedure5 should ensure that all records of investments are held in a Secure place, that statements of investments are available for inspection byTrustees atrInan￿ sub-committee meetings If requested and that controls are in place to ensure that all investment income is received on a timely basis. ACHIEVEMENfs AND PERFORMANCE AUKWSBH provides high level advocacy and influencing to ensure the needs of older people are respected and understood regionally. The Chief Executive, Helen Rice. presently is a board member of the Health and Wellbeing Board, the Safeguarding Board. theAdultSocial Care Sounding Board and is a Governorfor University Hospitals Sussex. Helen is also part of the Community Solutions Consortiurn and the Su55ex Alliance working to influence the new Integrated Care System. Jo Clarke, Deputy CEO is the VC5 (Voluntary and Community Sector) representative in Brlghton for Older People and Commissioning. AGE UK WEST SUSSEX, BRIGHTON AND HOVE (LIMITED BYGUARANTEE) TRUSTEES, REPORT (INCORPORATING THE DIREcfoRS REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Our 202312024 objectives that we have been delivering against the strategic plan are included in the table below.. Key Project Home Wellbeing Service- Extra CarelHome Care Services Activity Prepare options analysis and business case to establish new services. Successfully tendered for CLW August 2023, using as test bed for furtherwork. Development of discharge services. Rewew of opportunities to grow wider seNices in this area Key Outcomes Enhanced Service offer Increased access to services Increased reach Website SP Our Operations AUK National projectto improve website functionality. Spec and build new interactive website to meet growing older community's needs. Increased reach Create community for professional and clients Improved customer journey Completed November 23 Brighton Strategy SP Our Services Develop strategic plan for Brighton and positioning as the older people'5 charity in the city. Clear focus and prioritie5 for B&H Brighton Property Options Paper and direction Working with and developing excellent local relationships and partnerships IT & Systems SP Our Organisation Completion of review of administration, FPOC and 5y5tems and launch of new Telephone System and ongoing IT training for all staff and volunteers. Review completed by end August Improved and hybrid telephony system Improved metrics Improved call handling and access to services- improved customer journey C05t Savings Membershipl Loyalty Programme SP Our Finances Review. design and roll out a new Membership Programme. Review & design completed by Dec-24 First phase of roll out by Mar- 24 Refreshed membership/ loyalty scheme and increased access to services Preliminary work complete and remaining work is bein8 taken forward to 2024-25 priority AGE UK WEST SUSSEX, BRIGHTON AND HOVE (LIMITED 8Y GUARANTEE) TRUSTEES, REPORT IINCORPORATING THE DIREcfoRS REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Soclal Prescribing Strate8y for WSBH SP Our Service5 Establish SP strategy to include core service offer and alignment of processe$15ervice improvements. Informed strategy to support tenders Increased connectivity and processes including data capture, Enhanced customer journey between and wtth other serVI￿S Increased reach Awaiting information from Commissioners from 24125 Contracts clear from April 2024, however only for a year and still uncertainty over future sustainable arrangements {because of ICT, NHS and General Election). The headline stats below show how many clients have been using our 5ervice5 in total between April 2023 to March 2024: Total cllents accessing: 15.038 Total unlque cllents direct to AUKWSBH: 12,784 Total number of referrals: 12,161 Total number of contacts: 121,558 Total amount of benefits raised: £4,518,384 Total dlents accessing through partners: 2,254 15,038 unique individua15 provided with sUPPOrt across West Sussex Brighton & Hove The total amount of benefits raised for our dients by our Information & Advice II&AI team of £4.5rn represents an increase of 22% from the average of the prior three years (£3.7m a year). This is a particularly astounding achievement as the team's capacity has been reduced by a third at the same time as cases are becomin8 more complex and thresholds to access Statutory services are increasing. We have includedthe stats of clientswho havebeen served byourpartner organi5ations in ourheadlinefigures. These partners are West Sussex Mind, Age UK East Grinstead. Community Transport Sussex and Royal Voluntary Service. Printipal sources of funds The principal fundin8 Sources for the charity are currently by way of contract income and grants from various bodies including West Sussex Cou nty Council, Arun District Council. Mid Sussex District Council. Hor5ham District Council and Crawley Borough Council. We have also received NHS ICS funding through locality and Pan-Sus5ex, the income from these sources, which amounts to 56.9% of our total income. underpins a major proportion of the work that we do to meet our charltable objective5. This is a reduction of 8.1% on last year. Fundralslng We appointed two graduate interns on a l-year contract through the Charity Works scheme in Nov 22. They both departed after the year was completed but a further intern was recruited in Nov 23. This has enabled us to increase our grant submissions again this year. We also recognize that as our organization grow5 the landscape changes in the funds potentially available to us. For this reason. we are seeking to employ a Fundraising Manager in 2024 to reshape our Fundraising Strategy and take this forward. A total of 85 Application were submitted in 2023-24 of which 26 were successful. AGE UK WEST SUSSEX, BRIGHTON AND HOVE {LIMITED BY GUARANTEE) TRUSTEES, REPORT (INCORPORATING THE DIREcfoRS REPORT) FOR THE YEAR ENDED 31 MARCH 2024 FINANCIAL REVIEW The consolidated results of the charity and its subsidiary are set out in the Statement of Financial Activities. The total consolidated funds held at the balance sheet are £2.869.565 which consist of £121,132 held in restricted funds, £673,567 in designated funds and £2,074,866 held in general unrestricted fund5. Designated Funds have significantly increased this year largelydueto a legacy beingreceived that was unknown, amountin8to£450,OW. The charitvs net movement in fund5 for the year was therefore a surplus of £582,511 which was attributed largely to the increased legacy income. RESERVES POLICY The proce￿ of holding reserves 15 an essential part of good financial management practice. Trustees are, however, required to justify their legal power to hold reserves. Because of the vulnerability of our client group and the nature of the serwces we offer. the Trustees of AUKWSBH have determined that there is a need to secure the organisabon'5 viability beyond the immediate future to provide reliable services and fundingover the longer term and to be able to absorb downturns in income. A formula to determine the level of reserves should include: costs of staff redundancies: contractual relationships e.g., leases. working capital requirements: any outstanding net liabilities; Insurance cost5 public liability, employer's liability, contents, and buildin85; and financing planned investments. The level of reserves required will be adjusted annually during budget setting to consider the above formula. Responsibility for approvingthe annual assessment is vested with the Trustees. assisted, if appropriate. by professional advisers. The CEO and Head of Finance prepares a report for a meeting of the Trustees every year and make such recomrnendations for adjusting the reserves as appropriate. Free reserves on 31 March 2024 were £750.83012023: £6003871. The charity defines free reserves as unrestricted funds which have not been earmarked and may be used to further the charittys objectives. This almost covers the target reserves level which the Trustees have set of £850.OCrf). GOING CONCERN As part ofthe annual budget process the Trustees have undertaken a thorough review of the year ahead and approved an eighteen-month cashflow projection. Thi5 hasgiven them a reasonable expectation that the Company has adequate resources to continue in operational existence for the near future. For this reason. they continue to adopt the going concern basis in preparing financial statements. Further details re8ardin8 the adoption of the going concern basis can be found in the accounting policie5. RISK MANAGEMENT The Trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place or specific actions agreed to manage these major risks. A risk registerls updated every rnonth for all risks and reviewed at each Board meeting. A key ri5kthat the organisation faces is theoneshared with many others-that of the recovery from the legacy impa of the Covid 19 pandemic and Cost of Living crisis. With reduced customer confiden￿, recruitment challenges and supply chain challenges and price rises, our income generated has been reduced. To mitigate this. we continue to seek high quality feedback from customers, market our services widely, strive to diversify our income with fundraising initiatives and have adapted our operating model to become a more agile service provider. AGE UK WEST SUSSEX, BRIGHTON AND HOVE (LIMrrED BY GUARAKfEE) TRUSTEES, REPORT (INCORPORATING THE DIREcfoRS REPORn FOR THE YEAR ENDED 31 MARCH 2024 AUDITORS Duringthe year. the TC Group was chosen to art as the independent auditor to the organisation. srATEMEpif OF DISCLOSURE TO AUDITOR A5 far as each person who wa5 a Trustee at the date of approving this report are aware, there is no relevant audit information of which the group'5 auditor is unaware. Additionally, the trustees individually have taken all the necessary steps that they ought to have taken as directors to make themselves aware of all relevant audit information and to establish thatthe group's auditor is aware of that information. This report was approved by theTrustees on and 5i8ned on their behalf, by- .l(L k¥~ John Dixon Trustee Date: Oq ?th21fr AGE UK WEST SUSSEX, BRIGHTON AND HOVE (LIMITED BY GUARANTEE) STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The Trustees, who are also the directors of Age UK West Sussex, Brighton and Hove for the purpose of company law, are responsible for preparing the Trustees. Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard FRS102 The Financial Reportingstandard applicable In the UKand Republicof Ireland,. Company law requires the Trustees. to prepare accounts for each financial year which give a true and fair view of the state of affair5 of the charitable companyand group and of the incoming resources and application of resources, including the income and expenditure, of the charitable company and group for that year. In preparing these accounts. the Trust&s are required to: select suitable accounting policie5 and then apply them consistently; observe the methods and principles in the Charities SORP; make judgements and estimates that are reasonable and prudent. and prepare the accounts on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and group and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and group and hence for taking reasonable steps for the prevention and detettion of fraud and other irregularities. AGE UK WEST SUSSEX, BRIGHTON AND HOVE (LIMITED BY GUARANTEE) REPORT OFTHE INDEPENDENT AUDITORS TO THE MEMBERS Opinion We have audited the financial statements of Age UK West Sussex, Brighton and Hove I'the charitable company,) and its subsidiary {'the group'l for the year ended 31 March 2024 which comprise the Consolidated Statement of Financial Activities. the Group Balance Sheet. the Charity Balall￿ Sheet, the Cash Flow Statement and notes to the financial statements. including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practi￿). In our opinion. the financial statements: give a true and fair view of thestate of the group's and the parent charitable companvs affairs as at 31 March 2024 and of its incoming resources and application of resources for the year then ended: have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirements of the Companies Act 2006. Basis tor opinion We condurted ou r audit in accordance with International Standards on Auditing {UK) IISAS IUKII and applicable law. Our ie5ponsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements sertion of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK. including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide 3 basis for our opinion. Condusions relatin8 to going concern In auditing the financial statements. we have conduded thatthetrustees. use of the going concern basis ofaccounting in the preparation of the financial statement5 15 appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individu311y or collectively. may cast significant doubt on the charity's and group's ability to continue as a going concern for a period of at least twelve months from when thefinancial statements are authorised for issue. Our responsibllities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other information The other information comprises the i nformation included in the annual report other than the financial statements and our auditorfs report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and. except to the extent otherwise explicitly stated in our report. we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit. or otherwise appears to be materially mi5Stated. If we identify such material inconsi5tencie5 or apparent material mi5Statements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If. based on the work we have performed. we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. io AGE UK WEST SUSSEX, BRIGHTON AND HOVE {LIMtrED BY GUARANfEE) REPORT OF THE INDEPENDEKf AUDITORSTO THE MEMBERS Opinions on other matters prescribed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of the audit- the information given in the trustees, report {incorporatinB the directors, report) for the financial year for which the financial statements are prepared is consistent with the financial statements- and the directors, report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of our knowledge and understanding of the charitable company and group and its environment obtained in the course of the audit, we have not identified material mi55tatements in the directors, report. We have nothingto report in respect of thefollowing matters in relation towhich the CompaniesAct 2006 requires us to report to you if. in our opinion: adequète accounting records have not been kept. or returns adequate for our audit have not been received from branches not visited by us. or the financial statements are not in agreement with the accounting rrfords and returns- or certain disclosures of dirertors. remuneration specified by law are not made- or we have not received all the information and explanations we require for our audit. or the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies, exemption in preparing the director's report and take advantage of the small companies exemption from the requirement to prepare a strategic report. Responsibilities of trustees As explained more fully in the trustees. responsibilities statement. the trustee5 (who are also the directors of the charltable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satlsfied that they give a true and fair view. and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements. the trustees are responsible for as5e55ing the charitable companls ability to continue as a going concem, disclosin& a5 applicable, matters related to goin concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations. or have no realistic alternative but to do so. Auditorfs responsibilitles for the audit of the financlal statements Our objectives areto obtain reasonable assuran￿ about whether the financial statements as a whole are free from n13terial misstatement. whether due to fraud or error. and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit condurted in accordance with ISA5 IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or errorand are considered material if, individually orin the aggregate, they could reasonably beexpetted to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. The extent to which our procedure5 are capable of detecting irregularities. including fraud. is detailed below. Extent to which the audit was considered capable of detertimg Irregularities, including fraud The objeetives of our audit. in respect to fraud, are: to identify and assess the risks of material mi5Statement of the financial statements due to fr3ud- to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through desiEning and implementing appropriate responses,. and to respond appropriately to fraud or suspected fraud identified during the audit. However. the primary responsibility for the prevention and detection of fraud restswith both those charged with Bovernance ofthe entity and its management. li AGE UK WEST SUSSEX, BRIGHTON AND HOVE {LIMITED BY GUARANTEE) REPORTOF THE INDEPENDENT AUDITORSTOTHE MEMBERS Our approach was as follows- We Identified areas of lawsand regulations that Could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience. and through discussion with the directors and other management (as required by auditing standards), and discussed with the directors and other management the policies and procedure5 regarding compliance with laws and regulations- We identified the following areas as those most likely to have suth an effect- health and safety; General Data Protection Regulation (GDPR)- fraud- bribery and corruption and employment law. Auditingstandards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the trustees and other management and inspection of regulatory and legal correspondence, if any. We considered the legal and re8ulatory frameworks directly applicable to the finan¢iol Statements reporting framework IFFLS 102 and the Companies Art 2006 and the Charities Act 2011) and the relevant tax compliance regulations in the UK.. We considered the nature of the group's operations. the control environment and bu5ine55 performance, including the key drivers for management's remuneration; We communicated identrfied laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit- We considered the procedures and controls that the group has established to address risks identified, or that otherwise prevent, deter and detert fraud. and howsenior management monitors those programmes and control5. Based on thi5 understanding we designed our audit procedure5 to identify non-compliance with such laws and regulations. Where the risk was considered to behigher, we performed audit procedures to addre55 each identified fraud risk. These procedure5 included: testing manual joumals; reviewinE the financial statement disclosures and testing to supporting documentation; performing analytical Pro￿dUres- and enquiring of management, and were designed to provide reasonable assurance that the financial statements were free from fraud or error. Owing to the inherent limitations of an audit. there is an unavoidable rlsk that we may not have detected some material mi5Statements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example. the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. The risk is also 8reater regarding irregularities occurring due to fraud rather than error. as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and cannot be expected to detert non-compliance with all laws and regulations. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council'5 website at.. htt www.frc.or -uk Our-work Audi Audit-and-assurance Standards-and- uidance Stanards-and- uidance-for-auditor5 Auditors-res onsibilities-for-audit Descri tion-of-auditors- res on5ibilities-for-audit.as x. This description forms part of our auditor's report. 12 AGE UK WEST SUSSEX, BRIGHTON AND HOVE (LIMrrED BY GUARANTEE) REPORTOFTHE INDEPENDE￿rAuDIToRs TO THE MEMBERS Use of our report Thls report is made solely to the charitable companvs mernbers, a5 a body, in accordancewith Chapter 3 of Part IG of the CompaniesAct2006. Ouraudit work has been undertaken so thatwe might state to thecharitable compan¢s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not ac￿pt or assume responsibility to anyone other than the charitable company and the charitable companvs members as a body. for our audit work, for this report. or for the opinions we have formed. Mark Cummins FCCA (Senlor Statutory Auditor for and on behalf of TC Group Statutory Auditors Office.. Su55ex Dated. (yLtw Ic/l(t 13 AGE UK WEST SUSSEX, BRIGHTON AND HOVE (LIMITED BYGUARANTEE) CONSOLIDATED STATEMENT OF FINANCIAL AcfiviTIES (INCLUDING THE INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted funds Designated fund5 Restrirted funds Total 2024 Total 2023 INCOME FROM". Donations and legacies Charitable artivities Investments Totsl income Notes 273,479 4.009,446 19,426 4,302.351 450,000 103.265 169,576 826,744 4.179,022 19,426 5,025,192 296,565 4,098,777 4,157 4,399,499 450,000 272.841 EXPENDITURE ON: Raisins funds Charitable activitie5 Total expendlture 327 4,186.591 4,186.918 327 4A42.354 4N42,681 1,159 4,800,992 4,802,151 24.117 24.117 231,646 231.646 Net Income/lexpenditure) 115N33 425￿83 41.195 582,511 1402,6521 Transfers 16 (24.117) 24,117 Net m(wement in funds 91,316 450,000 41,195 582.511 1402,652) Reconclllatlon of fund5 Total funds brought forward 1.983,550 223,567 79,937 2.287,054 2.689.706 Total funds carrfed forward Z,074,866 673,567 121,132 2,869,565 2.287.054 The Consolidated Statement of Financial Artivities includes all gains and1055es recognised in the year. The notes on pa8e5 17 to 33 form part ofthese financial statements. 14 AGE UK WEST SUSSEX, BRIGHTON AND HOVE (UMITED BY GUARANTEE) CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Notes FIXED ASs￿s Tangible assets Investments li 1,324,036 2.883 1,326,919 1,382,663 2,884 1,385,547 12 CURRENT ASSErs Stocks Debtors Cash at bank and in hand 13 14 2,885 872,949 1.088,155 4,648 595,710 686,172 1,963.989 1,286,530 CURRENT LIABILITIES Creditors due within one year 15 (421.343) (385,023) NEf CURRENT ASSErs 1.542,646 901,507 TOTAL ASSETS LESS CURRENT LIABILITIES 2,869.565 2,287,054 TOTAI NET ASSErs 2.869.565 2,287,054 GROUP FUNDS Restricted funds Unrestrirted Designated funds Unrestrirted General funds 16 121.132 673,567 2.074,866 2.869.565 79,937 223.567 1,983,550 2,287,054 The financial statements were approved and authorised by the Board of Trustees on a nd signed on their behalf by: .l NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 srAFF COSTS Group and Charlty 2024 Group and Charity 2023 Wages and salaries Social security costs Contribution to defined contribution pension schemes Contribution to defined benefit pension schemes 2,658,063 193.708 2,797,147 212,138 93,476 97,100 11,400 11,400 2,956,647 3,117.785 The average number of persons employed by the Charity during the year was as follows: Group and Charity 2024 Group and Charity 2023 No 55 90 15 160 Activity centres and clubs Other projects Administration 104 18 162 The number of employees, whole benefits (excluding employer pension c05t51 exceeded £60.000 was: Group 2024 Group 2023 No No In the band £80.001- £90,000 Key management personnel comprises of the CEO and COO. The aggregate remuneration of key management personnel was £235,097 {2023: £167.133}. Totsl settlement agreements and associated pay in the year was £542. 10 TRu￿EES. REMUNERATION AND EXPENSES During the year, no Trustees received any remuneration or other benefits {2023- £Nill. During the year, expenses totalling £Nil were reimbursed or paid directly to Tru5tees12023: £Nil). 24 AGE UK WEST SUSSEX, BRIGHTON AND HOVE (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 11 TANGIBLE FIXED ASSET5 Group and Charity Free1￿Id Office property equipment Total Cost or valuatlon At l April 2023 Additions 1,308,928 421,687 25,143 (1.212) 445.618 1.730.615 25,143 11,212) 1,754,546 Disposals At 31 March 2024 1.308.928 Depreclation At l April 2023 Charge for the year Disposals At 31 March Z024 52.446 295,506 57.022 (1.0601 351,468 347,952 83,618 11.060) 430,510 26.596 79.042 Net book value At 31 March 2024 1.229,886 94.150 1,324,036 At 31 March 2023 1,256,482 126.181 1,382.663 Land and buildings with a carrying value of £1.3 million were revalued in the accounts on 18 June 2019 by Stiles Harold Williams. independentvaluers not connected with the charity on the basis of marketvalue. Thetrustees are not aware of any material changes in the valuÈ sincethis valuation. 12 FIXED ASSET INVESMEKrs Group Listed Investments Total Cost or valuation At l April 2023 At 31 March 2024 2.884 2,884 2,884 2,884 Net book value At 31 March 2024 2,884 2,884 At 31 March 2023 2,884 2,884 25 AGE UK WEST SUSSEX, BRIGHTON AND HOVE (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 IZ FIXED ASSEf INVESTMENTS ICONTINUED) Charftv Investments Usted in subsidiary Investments Total Cost or valuation At l April 2023 At 31 March Z024 2,884 2,885 2,885 2,884 Net bookvalue At 31 March 2024 2,884 2.885 At 31 March 2023 2,884 2,885 Prindpal subsidiarie5 The following was a subsidiary undertakingof the Charity: Registered office or principal Pla￿ of buslness 29-31 Prestonville Road. Brighton, England. BNI 3TJ Name Age UK West Sussex Enterprises Llmited Compary number 03618876 Prlndpal artivity Dormant-no trade in the year Class of share5 Ordinary Holding Ico% Included in con501idation Yes 13 STOCK5 Group 2024 Charity 2024 2023 2023 Finished goods and goods for resale 2￿85 4,648 4,648 2.885 4,648 4,648 2.885 2.885 26 AGE UK WEST SUSSEX, BRIGHTON AND HOVE (LIMITED BYGUARANTEE) NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 MARCH 2024 14 DEBTORS Group 2024 Charlty 2024 2023 2023 Due within one year Trade debtors 335.692 537.257 443,207 152,503 595,710 335,692 539.165 874.857 443,207 152,503 Prepayments and accrued income 872,949 595,710 15 CREDrroRS: AMOUNTS FALLING DUE W￿H1N ONE YEAR Group 2024 Charity 2024 2023 2023 Trade creditors 121,942 85,334 121,942 85,334 Arnounts owed to group undertakings Other taxation and social security Other creditors 69,730 127,913 7,018 164.758 69,760 13,724 212.334 127,943 3,403 164,760 381.441 17,339 212,332 421.343 Accruals and deferred income 385.023 417,760 27 AGE UK WEST SUSSEX, BRIGHTON AND HOVE (LIMITED BY GUARAKfEE) NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 MARCH 2024 16 STATEMENT OF FUNDS - CONSOLIDATED At31 March Z024 At l Aprll 2023 Income Expendlture Transfer5 Unrestrlcted general funds General funds Reserves 1.978.937 4,613 1,983.550 4,302,351 {4,186,9181 {24,117} 2.070,253 4,613 2.074.866 4,302.351 (4.186.918) (24.117) Unrestrlcted deslgnated funds Our Customers Our Servlces Our People Our Operations Our Organisation 57,502 54.000 47.150 30.0(X) 34,915 223,567 450,000 {8,6821 8,682 507.502 54,000 47,150 30.000 34.915 673.567 (11,4001 {4,035) 11,400 4,035 450,000 124.117) 24,117 Restricted funds Broadbrid8e Heath Village Agent Welfare donations Active Sussex PA Arun activlty centre and clubs Bereavement support Chichester activitie5 Cake and Connect B&H dementia services Dementia Extra care Dementia Sunshine Seniors Actlvlty Money Digital Champions Ernest Kleinwort Mid Su55ex & Crawley Christ's H05Pltal fund Community NeiEhbour5 Crawley Borough Council Falls prevention Horsham district Household support fund One Family Christmas Activities Peter Harrison Foundation Laburnam Centre reftt Maidenbower ScrewFix Fund Sports EnEland The Hope Keith Trust 12,000 (12.000) 1406) 12.265) 114.118) 124,734) 15,0001 1192) 113,162) 1533) 8,188 7,782 2,265 14.118 234 24,500 5,000 2,500 47.557 2.308 34,395 533 4.498 1407) 4,091 1,363 39,404 140,767) {4,000 4,OCrf) 11.371 1460) 3.333 25,000 6,351 55.000 8.000 2.000 15,000 {3,070) (1.614) {25,000) (6,351) {55.000) (2,504) (2.000) (6,250) 7,841 1,719 5,496 8,750 40,130 273 5,000 3.347 40.130 595 5.000 6.764 8,534 272.841 {322) (3,417} (8,5341 1231,646) 79,937 121,132 Total f unds 2.287,054 5.025.192 14.442.681) 2,869,565 28 AGE UK WEST SUSSEX, BRIGHTON AND HOVE (LIMITED BY GUARANTEE) NOTES TO TH E FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 16 ￿ATEME1￿ OF FUNDS- CONSOLIDATED {CONTINUED) DESIGNATED FUNDS Our designated funds are fund5 required for ourfvture investment and link direttlyto our5 year Strategic Plan. We operate the following Funds: Our Customers: To develop and maintain a broad and deep understanding of our customers, developing clear and informed insights into their needs, expectations a nd aspirations. Our Services: Join up ourservices to facilitate positive customer journey5 and care pathways that enable our customers to successfully achieve the positive outcomes theywi5h. OurPeople: Tocreate a diverse, inclusive and enablingculturewhere staff, volunteers and trustees feel welcomed, valued and can thrive. Our Operatlons: To put local work at the heart of our business. developing and partlClP3ting in local networks, tea ms and services, tailored to the needs and resources Within distinct localities. Our Organisation: To develop and promote our profile, reputation and brand as one organisation, with a single mission and vision. RESTRICTED FUNDS Broadbridge Heath Parish Councll and the Hope Kelth Trust funded ourvillage Agents and rural outreach workers who supported local groups and clubs. helping set up new ones and providing a friendly face, assisting those in rural communitie5 With advice and practical help. Our Welfare Donatlons and Chrisvs Hospftal projects are hardship funds which older people ca n access to help with among otherthings payment of their bills, purchase of white goods or food vouthers. Our Localities Team provide fun. engaging, stimulating Social a nd physical activities and projects in our buildings and in the local community to encourage older people to be attive and reduce social isolation and loneliness. These projects were partly funded by several restricted funds from Arun Distritt Council, Chichester District Council, Mid Su55ex {Burgess Hill and Haywards Heath) District Council, Crawley Borough Council, Horsham Distrirtcouncil, Crawley Golf Club,Age UK national (Tackling Inequalltles fund) and the Rangoonwala Foundation helped support our catering offering. Our Walking Football programme which took place in Worthin& Arun, Arundel and Portslade (women only) was funded by Age UK national and Active Sussex who also funded the expansion in participation of our Selsey Fltness Classes. Our Laburnam Centre in Bognor Regis is having a planned refrt including the inclusion of changing rooms for the gym faciltty which has been funded by the Garfield Weston Foundation. Preliminary work has started and this is expected to be completed in FY 24/25. The Prevention Assessment Team community worker5 provided triage and low-level interventions and support, including information and signposting to services to support and prevent clients from entering crisis. Our Help at Home funds helped support our seD/ice which provides shoppin& cleanin& and gardening for older people to enable them to maintain their independence. Our Dementia clubs which provided support to carers and the cared for. offering a range of stimulating activities forth05e with dementia were partlyfunded from thefollowingfunds West Sussexcounty councll Short break contract. Francine Trust Ltd. Albert Gubey and Brighton Distrirt Nursing association. 29 AGE UK WEST SUSSEX. BRIGHTON AND HOVE (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 16. ￿ATEMENT OF FUNDS- CONSOLIDATED [cor￿lNuEDj Actlve Sussex PA funded NHS Physical ActNity & Digital Weight Management program, which ran for 26 weeks. Cake and Connect is a grant to support cake and connect groups in the Chichester area. Community Neighbours is a PHP grantfor our Brighton project. Dementia Sun5hlne Senlors artivlty money is a WSCC grant toward5 the running of the new group in Crawley. Maidenbower is a fundraising donation specified for this group in the Crawley area. Peter Harrison Foundation is a grant to support salaries to carry out person31 assessments in the gym. ScrewFix fund is a grant to support the refrt of the staff kitchen at the Laburnum Centre due to be completed 24/25. Sports England is a lottery money grant for the gym. The Hope Kelth Trust Vlllage agent grant is a grant towards a village agent in Horsham. Wlnter Warmer Program (Age UK national> grants helped support older people during the period of low winter temperatures, supplingthem with a heater. 17 ANALYSIS OF NET ASSETS BETWEEN FUNDS Analysis of net a55ets between funds- current period Unrestricted funds Z024 Designated funds 2024 Restritted funds 2024 Total funds 2024 Tangible fixed assets Fixed asset investments Current assets Creditors due within one year 1.324.036 2.883 1.169.290 (421,343) 2,074.866 1,324,036 2.883 1,963,989 (421.343) 2A69,565 673.567 121,132 673.567 121.132 Analysis of net assets between funds-prior period Unrestritted funds 2023 Designated fund5 2023 Restricted funds 2023 Total fund5 2023 Tangible fixed assets Fixed asset investments Current assets Creditors due within one year 1,382,663 2,884 983.026 {385,023) 1,983,550 1,382,663 2,884 1,286,530 {385.0231 2.287,054 223,567 79,937 223,567 79,937 30 AGE UK WEST SUSSEX, BRIGHTON AND HOVE (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 MARCH 2024 18 RECONCILIATION OF NEf MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING AcfiviTIES Group 2024 Group 2023 Net income/expenditure forthe period (35 per SOFA) Adjustments for: 582,511 1402,6521 Depreciation charges 83,618 88,118 Profits/{lossesl on disposal of fixed assets 152 Dividends, interest and rents (19A26) 14,157) Ilncreasel I decrease in Stocks 1.763 (3.4651 Ilncreasel I decrease in debtors (277.239) 370,828 Increase / (decrease) in creditors 36,320 124D,168 Net cash provlded by/{used In) operating activities 407,699 1191,4961 19 ANALYSIS OF CASH AND CASH EqUIVALEpirs Group 2024 Group 2023 Cash in hand 407,699 686.172 Total cash and cash equlvalent5 407,699 682,172 20 ANALYSIS OF CHANGES IN NET DEBT At l April 2023 Cash flows At31 March 2024 Cash at bank and in hand Bank overdrafts repayable on demand 686.172 1901} 685,Z71 401.081 901 1,088.154 401,982 1,088.ISS 21 CONTROLUNG PARTY The charitable company is controlled by the Board of Trustees. who are also directors under company law. 31 AGE UK WEST SUSSEX, BRIGHTON AND HOVE (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 22 OPERATING LEASE COMMrrMEpirs Atthe reporting end date the charity had outstandingcommitments forfuture minimum lease payments under non-cancellable operating leases, which fall due as follows: 2024 2023 Within one year Between two and five years Over five years 8,410 23,228 72,793 19,988 22,800 80,414 123,202 104,432 23 PENSION COMMrrMEPtrs The grou p operates a defined contribution pension scheme. The a55ets of the scheme are held separately fro those of the group in an independently adrninistered fund. The pension cost charge represents contributions payable by the group to the fund and amounted to £93.476 (2023- £97,100). Contributions amounting to £Nil12023- £Nil) were payable to the fund at the balance sheet date and are included in creditors. The group also operates a defined benefit pension scheme. The disclosures below are provided in respect of the Age Concern Sectlon of the Age UK Retirement Benefits Scheme (the 'Scheme'l. The level of benefits provided by the Scheme depends on a memberfs length of service and their salary attheir date of leavin8 the Scheme. This section ofthe Scheme dosed to future employees on 30 November 2008. A full actuarial valuation of the Scheme was carried out as at 31 March 2019 and the results of thi5 valuation have been updated to 31 March 2024 by a qualified independent actuary. The present value of the defined benefit obligation was measured using the Projected Unit Method. Principal actuarial assumptions at the Balance sheet date (expressed as weighted average51: 2024 2023 Discount rate for scheme liabilities Expected rate of salary increases RPI inflation assumption CPI inflation assumption 4.90 NIA 3.20 4.85 NIA 3.25 2.45 2024 Years 21.7 23.6 2023 Years 21.8 23.1 Mortality rates lin years) For a male aged 65 now At 65 for a male aged 45 now For a female aged 65 now At 65 for a female aged 45 now 23.0 23.8 25.1 25.2 32 AGE UK WEST SUSSEX, BRIGHTON AND HOVE (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 23 PENSION Comm￿ME￿r5 (coKfiNUED) The Group'5 share of the assets in the Scheme was: 2024 £ 'ooo 51 18 2023 £ 'ooo 32 17 Equitie5 Diversified growth fund Property Cash and other liquid assets Matchin8 assetslbonds 47 46 12 li 226 248 354 354 The current service cost in the year £11,400 {2023 - £11.4001. 2024 2023 £'ooo 354 13321 22 Fair value of plan assets Present value of fvnded liabilities Surplus / Ideficitl 354 1335] 19 Deficits only recognised in the SOFA A5 the pension scheme is in surplus. the previous provision recorded in the financial statements ha5 been released. 33