Bexley ageuK Age UK Bexley (A company limited by guarantee) Trustees, Report and Financial Statements For the year ended 31 March 2023 Registered number: 04244876 Charity number: 1088399 Contents Message from our Chair What we do Objectives Achievements Future plans li Financial review 12 Principal risks and Un￿rtaIntieS 13 Policies 14 Structure, governan￿ and management 15 Trustees, responsibilities 16 Independent auditors, report 17 Statement of financial attivities 20 Balan￿ sheet 21 Statement of oishflow5 22 Notes to the financial statements Referen￿ and administrative details 40 Message from our Chair L& Welcome to the Age UK Bexley Annual Report 202212023. The past 12 month5 have been characterlsed by a difficult time for those we support. The rising c05t of living has made it an exceptionally difficult year for many people, including the users of our seNices and employee5. We have kept this at the forefront of our Trustee meeting disajssions, and we tske our responsibilities to ensure the wellbeing of all our stskeholders very serfously. We remain a strong and robust charity, offering Stability and a high standard of Servi￿ for those who rely on us year after year, evolving and adapting to meet the changing needs of our users. I took on the role of Chair of Age UK Bexley in November 2022. 1 would like to thank the outgoing Chair, Geraldine Powell, for her many years of Servi￿ on the Boèrd of Trustees and for guiding the organisation through the Covid pandemic. I would also like to thank MaLJreen Holkham who Stepped down as a Trustee in November. Maureen has also given many years of dedicated service to the charity and her knowledge and wisdom has been invaluable to us. l am pleased to add that we welcomed 2 new Trustee5 to the Board this year.. Barbara Kozlowicz and Lauren Weymouth. I want to thank our CEO, Alison &ker for her care, leadership, and commitment to delivering for all of our stakeholder communities. I'd also like to express my thanks to the employees, volunteers and trustees who make Age UK Bexley what it is. It is rare to find a more committed and engaged group of people who care about the user5 of our seN1￿5 and the difference we continue to make in supporting those who look to us for help. Aaron Pang Chair The Trustees present their annual report together with the audited financial statements of the company for the year l April 2022 to 31 March 2023. The Annual report selves the purposes of both a Tru5tees' report and a directors, report under company law. The Trustees confirm thet the Annual report and financial statements of the charitsble company comply with the current ststutory requirements, the requirements of the Charitsble company's goveming document and the provisions of the Statement of Recommended Practi￿ (SORPI revised 2019 applicable to charities preparing their accounts in accordance with the Financial Report'ng Stsndard applicable in the UK and Republic of Ireland IFRS 102). sin￿ the company qualifies as small under secbon 382 of the Companles Act 2006, the Strategic report reqUI￿d of medium and larye companies under the Companies Act 2006 (Strategic Kewrt and Directors, Report) Regulati(x)s 2013 has been omitted. What we do Who we are Age UK Bexley is an independent local charity. We've been wod(ing in the local community to help older people for 30 years. We have 30 dedicated staff and over 120 volunteers helping us to deliver seN1￿5 and acbvib'e5 for older people in Bexley. Reduce social isolation and loneliness Our Mission and Values For all older people living in Bexley, Age UK Bexley aim5 to.. Redu￿ soaal isolation and loneliness Improve Self-confiden￿ and independence Improve health and wellbeing Improve self- confidence and independence As a charfty worknng at community level with older people in Bexley, we value diversity and aim to support older people from all sections of our community. We strive to make our services and activities incluslve, safe spaces for those from minority ethnic backgrounds, people who Idenufy as LGBTQIA+, people liwng with disabilitles, and refugee5. I mprove health and wellbelng Thank you What we do is only possible thanks to the support we receive from our comrnunity- individual sUPPOrters, local organi5ations and businesses and those who dedicate their time to volunteer with us. Objectives Primary objective: To improve the quality of life for older people in the London Borough of Bexley by providing information, services, and support. ObSectlve I.. Our Interventions ensure the health and wellbelng for those ac￿sIng them is improved Objective 2.. Social isolation and loneliness are reduced for those accessing our servi￿5 and support Objective 3.. 5elf-confidence and Independence are increased through the use of our resources and specialist help Objertive 4.. That our operations and delivery mechanisms continue to be financially robust, safe and dient ￿ntred Objective 5.. That as an average those using our SeNi￿S and support identify the charity as "good" in how and where it has met their needs Publlc beneflt In setb'ng objectives and planning for athvities, the Trusteet have given due consideradon to general guldaMe publish￿1 by the Charity Commission ￿lat1rng tr) public benefit, including the gu1&an￿,Pub1IC beneflt.. running a chartty (PB2)'. Strategles for achlevlng objectlves During 2022123 we have managed to get all our services up and running again after the Covid-19 pandemlc and we have added some new services according to identified needs, including opening new Befriending Cafes, wlth the particular alm of reducing isolation and loneliness amongst our older population. We have found that many people were still nervous about mixing with other people for fear of infection and it has tsken 'me for people's confidence to build again. We have also expanded some of our servlces, Induding the"Pdthways" semce, a project we are running in partnership wlth 7 other charib.es in Bexley in order to carry out Care Act Assesynents and Carers Assessments on behalf of the local authority. We are rewewing our strategy for next 3 Yea￿ {2023-2026) and we held a planning day on 11 April 2023 involving staff, volunteers, trustees and people who use our services in order to decide on our strategic objectives and priorlties for the next few years and how we aim to achieve them. The results of this consultatr'on has infomied the formulation of a new 3- year Strategic Han, including our plans for new support seNices for older people In Bexley. We are grateful to our ftjnders and also to our siaff and volunteers, withotjt wh(Ee flexibility and commitment we would not be able to operate. Objectives (continued) Main activities undertaken to further the charity's purposes for the publlc benefit In order to deliver public benefit in line with these alms, Age UK Bexley provides the following services.. Men in Sheds- providlThJ small engineering and S￿allY entrepreneurial artlvlties for older men. Information and Signposting- our Infomiation Gateway service offers a point of entry into the service in addition to sUppO￿.ng local need for information and support in later life. Community Development programme- buildirYJ support and community-based resou￿5 including Befriending Cafes and Rtness Groups that to encourage social connertlvity and g[K￿ physical and mental health. Welfare Benefits Advice- undertaking beneflt checks and assisting with complety'ng claim forms In order to maximise income. Volunteering - volunteering roles for anyone over the age of 18 to help the charity support older people in thelr homes, our in-house Services and other community settings. Befriending- visiting serffi￿ provlded by volunteers reduang social isolation and lonellness for older people. Pathways Project (Adult Soaal Care)- as part of our consortium partnership with One Bexley we undertake Ca￿ art assessments and reviews on behalf of the borough's Adult Social Care servi￿. Day Centres- including Dementia Support servi￿5, Nursing Day Care, Standard Day Care, Respite sewi￿5. Representstion and Influencing - representing the interests of older people in the borough with decision-makers and other organisations. Nall Cutting Service- promding basic foot care to people of 50 years an(5 above, including those with diabetes. Achievements Our achievements are set out in our annual report each year. Recent achievements, of which we are particularly proud, indude the following: Our. GaEebvay Inforfflalion Stjvke iesporndcxl to 5542 rpque5t% for InfortYiati(M In ?O??,'73 lan irttrease of Il0* ()ii thp 1)r. Membws of ow fvkn in 840/0 of pLI)ple who attended our Befriending Cafes said they felt less isolated, mber of Iwal ornur4ty In 221 Attendances at our Sidcup Day C￿tre increased by 480/0 frtyn 3664 In 21122 to 5417 2022R3. We pro￿11￿ sui)port fol 1506 people via (Kir Gatewilv Inlom4ion 14elpline In 202212J' an increase attended d Tai (hi our at 1322 in 2123. ImprfN&I previrnts Iw, Ing. 980/0 ofwGhteway clieiitffi supi'eyoj stated Ihat St'the eixl of our work witbtrthj In the Gatew* that their original uestion was new weèkly Befriending Cafes opened 4n 2022123 num larfes IOOO/o of Men in Sheds meml)ers agreed with the ststement"I feel 5UPPOrted by my fellow Sh8J Members and Voluntews". fro Bexley 22in ageuK Achievements Befrlendlng Cafe$ We moved our cra￿Ord Cafe in September 2022 from the library in Crayford to Wolsley House where there is During 2022123 we have increased our number of more space. This has enabled the Café to expand and weekly Befn"endlng Cafes from 5 to 10, including a people previously on the waib.ng list to attend regulady. weekly Lunch Club held at the Guy Earl of Warwick Pub We also moved our Wednesday Men's Cafe In early in Welling. 2023 from Welling to Geddes Hace in Bexleyheath where transport links are better. This has enabled thls Café to grow and include more members. In addition to the Lunch Club our other new Cafes include.. Our Belvedere Cafe opened in May 2022 The Rosemary Cafe (opened Ottober 20221 for The total number of people attending our Befriending people with memory loss their Carer5 to attend Cafes during the year increased by 1310kn to 282 {from together 122 the premous year). A weekly Digital Café at Geddes Hace in Bexleyheath We are grateful to the mer￿r5 Company and others for where we provide 5UPPOrt for people to use technology and access the intemet their financial support for this project. Our Thamesmead Cafe opened at ￿keVIeW Court In January 2023. We carrSed out an evaluatlon of the Cafes and asked all attendees to complete an anonymou5 questionnaire. Responses are summarised below. 770/0 said their sense of wellbeing had Improved 880/0 said their confidence had improved 840/0 said they felt less isolated 860/0 sald it had helped to maintain their independen 900/0 rated the servI￿S as"good" or"ex￿lIent. lonely Attendance In totsl, 282 people attended the Cafes between April 2022 and March 2023. There were a total of 360 sessions, and 4566 attendances. Attendees, ethnic groups were recorded as follows.. Whlte Brltish 81010- White European.. IO/o' White Irish.. Ioh,. A5ian'. 30kn,' Black British.. 6%,. Mixedlother.. 2010,. Unknown.. 60/0. Gender: Female.. 70%,. Male.. 29%,. Unknown.. l¥0. Achievements (continued) Befrlendln9 Cafe$ (continued) Comments atK>Ut the benefits of the Café.. "Good service, good company fantsstic staff (Rosemary ¢afel" "I think the befriending café is excellenv Comments about why clients attend the Café: "501 don't spend so much time alone in my flat and to spend time with other people" °To meet people in the ￿rne position as me Iwidowl" "Boost with confidence since being disabled and to try and be independent" °Betarne very isolated after looking partner and family has a history of dementia. Men In Sheds 4 off-site socials were delivered for the members over the course of 2022123, including day trip5 to the London Docklands Museum and the Imperial War Museum. Men in Sheds Bexley is a community group for men over 50 to come together, make things ènd most importantly have funl We are based in the grounds of Christ Church Erith, just behind the church hall. Men in Sheds is a servlce run by Age UK Bexley. Key findings from November 2022 impart sutvey and f(Kus group5= 100% of the membership agree or strongly agree with the statement'l feel supported by my fellow Shed Members and Volunteers" 830h of the membership agree or strongly agr* with the statement'l have formed new friendships sin joining the Shed" (with Il% of new members stating it was too eady to tell) 780kn agreed or strongly agreed with the statement"1 am more active as a result of being involved in the shed". Attendances during 2022123 in(reaA by 34% from 985 the previous year to 1322. 235 sessions were delivered and 42 clients attended in total. We are grateftjl to the City Bridge Trust for their continued fundirKJ which has enabled the Shed to grow and develop. 2022123 Athievements.. Men in Sheds reached an addifjonal 47 people In 2022-23 through their outreach workshop sesslons. Members dellvered 2 sessions for Ii)cal residents at The Exchange and a 4-week course to participants of Danson Youth Centres 12-19 youth club Men in Sheds parfjclpated in Youth Unity's podcasting workshop for young re5ident5 of Erith in February 2023. The young people interviewed Shed Members about opportunities for the youth of today. (Interview Video: h ou huni men-in- In August 2022, the Shed secured funding from the Asda Foundab"on to build an outdoor shelter and new equipment. By February 2023 the outdoor shelter was completed and has expanded the workshop Spa￿ for the membershlp Achievements (continued) Fitness Activitles Cycling Club The in-person Fitrnove class ran almost every week during 2022123 led by a quallfied physbotherapist who carries out an assessment of each person when they Our Cycllng Club continues to be popular wlth members, join. 38 sessions were delivered at the Belvedere delivering 34 sessions over the course of the year with Community Centre, with a total of 335 attendan a total of 131 attendances (an increase of 820/0 on (28 dients). last year). During mid-December 2022 to mid-march 2023, the rides paused for winter. 40 digital Fitmove sessions were also delivered, with a total of 223 attendances (10 clients). The Cycling aub on their ride from Erith to DartFord in November stopped off at Holy Trinity Church in the centre of Dartford. One of the cycling members is a bellringer at the Church. Durlng the RerneMbran￿ Day service, the group were inmted to watch the bells being rung and had a tour of the church, including a visit to the Church roofl Tai Chl Our wee￿V Tai Chi class, also held at the Belvedere Community Centre provid￿ 44 sessions this year, with a totsl of 263 attendances(21 clients). The Cycllng Club also had a Christmas ride and lunch at In February 2023 we carried out a survey of people who The Exchange Erith in whith 10 riders arld volunteers use our Fitmove and Tai Chi da55e5. attended. The all-day breakfast was welcomed after a long ridel IOOO/o of participants stated that their sense of wellbeing had improved Sin￿ they start8J attending 940/y said that they felt less isolate 94010 said their Confiden￿ had improved. 88010 said it had helped to improve their independence. Comments included.. In March 2023, the Cyding Club rèn their first peer led mailltenan￿ session at Men in Sheds. 5 dients and 3 volunteers were present getting their bikes ready for the dub s weekly rides. The bikes were cleaned, brdkes adjusted and thains re-oiledl "By attending thls ex￿lIent￿￿$S IknowIhave Impn¥vedin Ijothmoven￿tan￿mlnd1 plus we allenjoy then￿mIn9- Itls hard work butalso The Danson Park walking group ha5 been active weekly fun-. throughout 2022123 including during the winter months. Over the course of the year the group delivered 55 "Mybalance andbreathlngh4Tvegreaty walks with a totsl of 531 attendances (44 clients). Impmved-. Walklng Groups "Ithashnprnvedmy nex1￿/￿1 POStureand balance-. 'It hasencouragedme to leavemyh0n￿0n a regularl>aw to with like-mindedpeople-. 'Ifeelmorerelaxed-. Achievements (continued) Day Care Our Day Centre has b￿n very much in demand this During the 12 months from April 2022to March year, phrticulèrly for people with dementia. Thanks to 2023, 144 people attended our Sidcup Day Centre and funding from the Emmanuel Hospital Foundation via a total of 5417 attendances We￿ recorded at 261 Age UK National, we have developed a programme of sessions {an increase of 480kn on attendance5 in activitie5 fmaintenance Cognitive Sts'mulation Therapyl 2021122). specifically aimed at this group of clients. We have also developed a'dementia pathwaW to ensure the right Ethnicity of attendees at our Sidcup Day Centre was as service is given to the right person. follows.. White British.. 830h' White European.. 2%; White Irish.. Ioh,. BlacklBlack British.. 50/0,. Other.. 2%. Unknown.. 7010. Gender.. Female.. 64%,. Male.. 36%. Age ranges.. 55-64: 40/0,. 65-74- 9Wo' 75_84'. 39010. 85-94.. 40Qh,' 95-104.. 8%. Age UK Bexley's Dementia Pathway Is:. The Rosemary Café Nondays 10.30-12.30, for people with ￿nitiVe impaitTnent who would benefit from acbvities, Dance for Wellness (chair based exercise) and reminisceKe. Carers can attend with their loved ones and this ensures that we can give support to carers. Nail Cutting We have contInu￿1 to provlde our nail cutting seNi during 2022123, with 2 clinics per week at Sidcup and I at Belvedere. The service has been very much in demand and much appreciated by clients with IOOO/o of people who used the seNice rab'ng it as either"good", '￿ery good" or°excellent" and 790h of respondents saying that their Wellbei￿ had improved since using the servi￿. Belvedere Activity Day {opened in lune 2023) for up to 12 people, everyThursdèy 10.20-3.30pm. This day ntre is for people who have cognitive impaimient and would really beneflt from a day with their peer group to have refreshments, lunch and an attlvity-basaj day using our Cognitive stimulab.on Theraples. Well-being Day Care at Sidcupi for up to 2U people Monday to Friday 10.30am to 4pm, for people who have mild dementia. This Servi￿ is also activity-based and provides delicious, freshly-cooked lunches, activities and Volunteering entertainmenL Our volunteers continue to be absolutely essential to the delivery of our servI￿s. Volunteering roles within the charity are varied and there is something for everyone, from helping out at one of our Cafes, to visiting an isolated older person at home, to providing information via our telephone helpline, to helping someone to fill In a complicated claim fom). 427 clients used the SeN1￿ durlng the year. 145 sessions were held wlth 1499 attendan￿. Enhanced Day Care at Sldcupi for up to 12 people Monday to Friday 10am to 3pm. This is for people who have mild to moderate dementia a5 well as physical disabilities, and we offer assisted feeiling, help with personal care (including showering) and lifang and moving aids (hoist etc). Day centre is a lifeline to so many people, carers can take a well eamed break from their caring responsibilities and their loved one5 can enjoy the range of actimties in the centre. Over the year, a total of 118 volunteers worf Fitness I Carers Self-confidence Diversity Bexley ageuK Wellbeing Men in Sheds Reduce social isolation E Disabilities Dementia Support Nail Care Clinic Inclusive We consider the following to be key future plans for the charity. At the tinE of publishing this report, some of these have alwdy been completed or are already in progress. with simple home maintenance (started April 2023). Hold an event to ￿lebTrte the Older Persons, Day on l October. Run some training courses for family carers and staff from other organisation5 In"￿Ving with Dementia" Apply for the CQS (Charities Quality Standard) quality rmark and the Age UK Infomiation and Advi￿ Quality Stsndard (for our Welfare Benefits Service)- Set up a Yake Home and Sethe SeN1￿. to assist older people on discharge from hospitsl and help to prevent re-admis5ion. For 2023124: Hold an 'Away Daw for staff, volunteers, trustees and service users in order to develop our strategic plan for the next 3 years (held in April 20231. old a Party for all our clients in May to celebrate the ￿n9$ Coronation. Apply for funding to expand the Welfare Benefits Advice seniice, possibly to include debt and housing advice as well as benefits, and to increase our capacity to support people thrO￿h the cost-of-living (rrisis. Restruciure our Welfare Benefits Service to ensure best use of stsff time. Carry out evaluations of all our services to ensure they are meeting our 5trntegic aims and objertives. Create more Day Centre places for people with cognitive impairment by opening a new Day Care Day at the Belvedere Q>mmunity Centre (opened June 2023). Open an Art Group for Older People at our Belvedere Centfft. Open another Befriending Qfé in Thamesmead For 2024125: Develop our Day Care at Home to provide a sitting service in clients, own home5 and to help with cleaning, shopping and getti￿ people out and about. Look into how we can improve transport option5lprowde better and more reliable trdnsport for pe(>ple who want to ac￿55 our day centre and community ￿fe$. Financial review Overview of the year will be needed in the coming year or in the near future. A further £24,411 was designated within the year tr) cover the costs of disputed rent payment from a previous property. The Charity r￿1Ved totsl income of £737,520 in the year, {2022 £662,963) with expenditure of £689,374 (2022 £676,601), resulung in a budgeted surplus of £12,596 (2022 £12,458) when taking into account1055es There were £489,427 of unrestricted general reserves at on investments of £35,550 (2022 £1,180). Within the the year end, of which £59,377 related to fixed assets overall surplus, there was a £9,709 deficit related to and £318,960 related to fixed asset investments. The restricted funds as a result of restricted income received fr￿ reseryes for general purposes is £111,090. Thbs Is in prior years being spent in accordan￿ with the terms lower than the three months reserves the charity aims of the grants (2022 surplus on restricted funds of to hold, however Trustees reC￿nISe that the investsnent £10, 112). portfolio could be liquidated should thls be requlred. Overall income has increased by £74,557, predominately Flnancial govemance regarding the management of as a result of an increase in income from the Day Centre fund5 identifies a minimum of three months operating {up £85,905), due to an increase in use of the facilities costs should be retsined to cover all eventualbties In the and the continued impart of last year s change in pricing event of closufft and redundancy. Trustees are obliged strutture. (This compares with an overall decrease in under secbon 6, 2.5 of the current finanaal pr￿edureS Income in 2022 of £14,687)- to cary out an annual risk assessment including the calculation of all known liabilitie5, consideration of any artion nece553ry to reduce risk, and the appropriateness of CU￿ent reserves levels to cover those three months should they be requlred. Expenditure increased by only £12,773 compared to the prior year financial statements due to the hard work to keep overall costs under control, particularly with pressure on staff costs, which rose by £20,766. Our funds Golng concern At 31 March 2023 funds totalled £569,042 of whith £5,204 relates to restrirted funds not available for general purposes and £74,411 relates to designated funds, as detailed in note 19. £50,000 of unrestrirted funds have been designated a5 a staff contingency fund. After making appropriate enquiries, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existen￿ for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financlal statements. Further details r￿ardIng the adoption of the going concem basis can be found in the Accounts'ng Poliaes. This has been set aside to cover the need to pay staff redundancies in the event that the charity had to close In the future. There 15 no expettation at this point that it 'è*11•4 Risks and uncertainties Risks and uncertainb.es ojrrently facing the charity are noted in the table below. Mitigations ané risk management were fully reassessed as part of the tharity5 Buyness Conts'nuity Planning in May 2022. The risk register was refreshed and updated and reviewed again in February 2023. Contingencies for infection control, resour￿ redeployment and financial resilien￿ were all put in pla￿ to assure our ability to maintain service delivery within controlled operational environments and a secure finanaal fOO￿ng. Risks Mitigation Rellance on eamedlncome from Day Care andother There is a risk of loss of revenue due to forced closure of our Day Care cent￿ and other seNices in the event The charity 15 aiming to diversify its sources of funding of another Pandemic. However, Day care is very much in order to reduce reliance on one source of income. in demand, particulady for clients wlth dementla, as other day Ca￿ services in the borough, most of which are situated in residential and nursing care homes, have not yet re-opened following Covld-19. Marketing and communicatlons are also being updated with increased reach and better promotion of Serv1￿5 and SUPPK)rt. (￿rdependen￿0ngrèntfiJndIng The charity is quite dependent on grant fundi￿ for some of its core seNI￿S. Most grants are short-tem {2-5 years at most) and further funding has to be applied for elsewhere when the grants come to an end. Ri51ng CostofLiwng The Charity plans to Introdu￿ more social enterprise projerts over the next few years in order to diver&fy its income base. The rising cost of livlng and Increase in costs, in particular energy bills, present a risk to the charity for the coming year both in terms of our own cost pressures, and also In terms of loss of revenue from dients who rllay not be able to afford to pay for servi￿5 and support. The Charity intends to apply for funding to increase capacity to SUPPOrt people with income maximisation and applylro for grants to help with utilities. Our involvement in the Pathways projert (delivering Adult Social Care Assessments on behalf of the local authority) means that we are well placed to identify clients who would be entltled to re￿1ve finanoal support from the local authority, for example to access our day services, and to advise them accordingly. Unresolvedrentèndleasingan7ngements Addltional cost pressuffts potentially resulting from unresolved rent and leasing arTrngements with the borough. The cha￿ty is worknng with the borough to resolve this ssue and dis¢u55ions are on-going. Policies Fundraising house training for our own staff and volunteers as well as for other local organisations on request. The charity remains mindful of its obligations under the Fundraising Code of Practi￿, with an undertaki'ng to ensure the followlng.. Equality, Diversity and Inclusion GDPR obligab'ons have been applied at all times, and that the charity at no b'me has made unsollcited approaches unless express pemission ha5 been grdnted. Age UK 8exley encourages and values diverslty. We are committed to pmviding 4ua1ity for all staff, volunteers, clients, and partners. Whilst the tharity has not registered for any voluntary fundrdising r￿ulatOry scheme it has adopted the core fundraising principles set out by the Fundraising Regulator in its Fundraising Code of Prartbce. We actively support diverslty and inclusion and ensure that all our staff, volunteer5 and clients are valued and treated with dignity and respect. We want to encournge everyone to reach their potentlal. We welcome our legal duty not to discriminate because It has not used the services of an extemal agency of the Equality Act 2010 protected characteristics of age, to support our fundraising attivities but were it to disability, gender reassignmenL marriage and ciMI do so would require adherence to the partnership, p[￿nancY and maternity, race lincludiro national stèndard5 andlor registration with a colour, nationality, and ethnic or national origin}, religion rec￿nIsed stheme. or belief, sex (gender) and sexual orientation. Monitoring of our fundTrising artlvlty durlng the year has not identified any practices that could be The Trust￿$ have an obligation to secure the best deemed as failing to meet those same national standards. However, further review as part of the financial retum (within the appropriate level of nsk) to Fundraising Artion Plan will form part of our be spent on the charity's alms. Consequendy, the developing strategy for income development in Trustees are seeking lOng-te￿ growth of capital and the future. income over time as their investment objective. Investments There were no complaints in relation to our fundraising artivib'es during the year. We aim to spread our funds across a number of low and medium rtsk Investments and are committed to investi in a re5ponyble and ethical manner. Due to the restritted nature of our fundraising artivity, we have been careful both to re5pett permission limitskn'ons central to our information govemance and therefore only contatted those who have expressly said they are happy for us to do 50. Our digitsl fundraising also applies our infonnation govemance and GDPR procedures In terms of the retention and use of any personal information that is given to the charity. Therefore, we have sought to ensure that no undue or unwanted pressure is applied to those who have given their support to the charity in the delivery and funding of Its work. Age UK8exlty, ter t￿e Safeguarding Safeguarding adults at risk Is at the heart of all we do. We have a dedicated staff member as Safeguarding Lead who has 28 years, experience in this field. She undertakes regular saf￿Uardlng training herself and is a qualified Safeguardiro TTriner, enabling her to run in- ageuK 02QS JOOO Structure, governance and management Constitution responsibility for the provision of the sery1￿ to the Chief Executive who manages the orkrations of the charity, supervises the senior managerllerlt team, and ensures that the team continue to develop their skllls and working prattices. The organisation is a charitsble company limited by guarantee, incorpoTrted on 2 July 2001, and registered as a charity. The company was established under a Memorandum of AsSOClation, which defined the objerts and powers of the charitable company. It is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1. The Board consists of The Chair of the tharity, elected by members at the Annual General Meeting. Method of appointment or election of Trustees Eight person5 elerted by members at the Annual GeneTrl Meeting. The appointment pro￿55 is a robust pr￿55 princlFklly defined by the business, knowledge, and development needs of the organisation. Advertisements are pla￿d through a range of online and soaal media in additlon lochl business and cornrnunity networks across the borough. Persons co-opted until the conclusion of the Annual Generdl Meeting provided this does not exceed one-third of the total number of members eletted under the above categories. The trustees who served during the year were as follows.. Where skn'lls gaps occur, advertisements are targeted to ensure these are filled and the balance Skills, knowledge G. Powell, Chair (resigned as Chair November 2022 an and expertise is maintained. Initial enquiries and applications must be made via the Chief EXeCu￿Ve, with as a Trustee in March 2023) trustees being involved in the selecbon and appointment A. Pang (Chair from November 2022) of successful candidates with support from the Senior Management team where apprDpriate. L. Cashin Policies adopted for the indurtion and training of Trustees M. Hamilton S. Holmes (Treastjrer) Tre Board of Trustees ensures that the composition and the breadth of experien￿ of its members are sufficient for it to discharge its responsibilitses. To these ends, the Board regularly reviews its composition and where ne￿55ary idenb'fies new options for membership and Skills. Tre charity has a trustee induction and training pack. M. Holkham {￿signed November 2022) B. Kozlowicz (appointed November 2022) T. Ma￿Y T. Shah During the year the Trust￿5 have b￿n encourag￿ to k*p up to date with wider sector knowledge ènd relevant Charity Commission guidan￿. L. Weymouth (appointed November 2022) Relationship with other charities Age UK.. A5 8 local Age UK, Age UK Bexley works alongside Age UK Nab"onal as a Bftnd Partner. Each Brand Partner is an independent organisation, a charity in its own right, but works closely with Age UK National and recelves support from the national organisation in terms of policy and keeping up to date with issues that affect older people. We also receive funding from Age UK National for several of our seNices. Pay policy for senior staff The Trustees, based on lo￿1 market assessment, CPI and performance outtum, agree rates of pay for all staff including those in senior positions and sign off all staff salary increases. Organisational structure and decislon-maklng In accordance with the company's Articles of Association, the company has a Board of Trustees. The members of the Board are the company's dirertors for the purposes of company law and are the trustees of the charity for the purposes of charity law. One Bexley.. Age UK Bexley is part of One Bexley: a group of 8 I￿al organisations who have come together with the aim of improviro seNices for Bexley resldents. We are currendy working together on a project known as"Pdthways", a contract with the local authority to undertake Adult Social Care Assessments and remews for people with care and support needs, as well as Carers As5e5srllents. The Board of Trustees is responsible for the overall management and control of the charity. The Board of Trustees meets a minimum of 4 times a year. The Board of Ttustees delegate the day-to-day Trustees, responsibilities statement of Trustees, responsibilities in the United Kingdom goveming the preparntion and dissemination of financial statements may differ from The Trust￿ {who are also the directors of the company legislation in other jurisdictions. for the purposes of company lawl are responsible for preparing the Tnjstees, report ané the finandal Dlsclosure of inforniation to audltors statements in accordance with applicable law and United Kingdom Accounting 5tsndards (United Kingdom Gene￿IlY Accepted Accounting Prartice). Each of the persons who are Trustees at the time when this Trustees, report is approved has confimed that: Company law reoulres the Trustees to prepare financial ststements for each financial year. Under company law the Trust￿ must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of its incoming resources and application of resources, Including its income and expenditure, for that period. so far as that Trust* is aware, there is no relevant audit information of which the charity's auditors are unaware, and that Trustee has taken all the steps that ought tr) have been taken as a Trustee in order to be aware of any relevant audit infornation and to establish that the charity's auditors are aware of that information. In preparing these finanoal ststements, the T￿5t￿ are The Trustees confimi that they have had regard to the required to: Charity Commis5ionS guidance on public benefit in reporbng on the Charity s objectives and achlevements on pages 3 - 9. selert suitable accounting polioes and then apply them consistendy- obserye the methods and principles in the Charities SORP as revised in 2019,. The reference and administrative detsils on page 39 form part of the Trustees. Report. make judgments and accounting estimate5 that are reasonable and prudent,. Auditors The audIt0￿, UHY Kent LLP, have indicated th￿r willingness to continue in offi￿. The designated Twstees will propose a motion reappointlng the auditors at a meeting of the Trust*5. stste whether applicable UK Accounting Stsndards have been followed, subject to any rnaterial departures disclosed and explained in the finanoal statements; arKi prepare the financial statements on the golng concem basis unless it is inappropriate to presume that the Charity will continue in ope￿tIon. Small companiesexemption This report has been prepar￿ in accordance with the specia1 provisions for small companies under Part 15 of the Companies Att 2006. The Trustees are responsible for keeping adequate aCCOLJnting records that afft sufFicient to show and explain the company's trdnsattions and disclose with reasonable accur3cy at any time the financial 90gtion of the company and enable them to ensure that the financial statements comply with the Companies Art 2006. They are also responsible for safeguarding the ssets of the company and hence for tsking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees and slgned on their behalf by.. r Aaron Pang, Chair The Trust*s are responsible for the maintenance and integrity of the charitable company s website. Legislatlon Ms. Slobhan Holmes, Treasurer 1giilx>2J 16 Age UK Bexley (A eomplny limited by guAraMte¢) Independent Audltors, R¢porÉ kn th¢ Trust¢¢s os a body of Age UK B¢xl¢y Oplnioll W¢ hay¢ audii¢d lh¢ lJnan¥ial stateni￿lS ofAg¢ UK B¢Aley ILh¢'¢h8rlty'l for the y¢w ¥ndrd 31 Mdrbh 2023 wlilth cvmprisE tht Statement of financial a¢liviti¢%, th¢ Balan¢¢ sh¢¢l, th¢ kSt8tem¢nt of ¢o%h tlrbW% at)d th¢ r¢l&ted ttollf, inrludlng a &8wnmary of signifjcallt a¢¢ouniing poli¢i¢s, Th¢ finth¢iol r¢porting framework that h8.1 b¢¢n applied in their prcpar&tion is &ffl)lieabl¢ law. and United Icingdom Accounting Swidards. in¢ludlng Financiol Repoitlllg Stfjndard 102'Th¢ Financial Reporting Standard &ppllcabl¢ in th¢ UK and Republi¢ ofir¢land' (Uiilt¢d Kingdom G¢n¢Nlly Accepted Ac&'ouiitln8 Piwiicel. In our oplnlon the fli]￿}Cial statcmenl$'. giv¢ atiu¢ and fair vi¢w of th¢ %tat¢ of th¢ ehfiriiable ¢ompai)y's fiffair.$ at 31 Mul'ch 2023 attd of Its Incoining rasources aThd appli¢ation of Iriour¢¢%, invluding IL8 in¢om¢ and ¢xp¢nditur¢ for lh¢ year th¢n rnd¢d,' hav¢ bwn prOp￿lY pr¢pw¢d in a¢¢ordtu)¢¢ wilh United Kinsdom G¢n¢tally A¢¢¢pt¢d A¢LOWlting Practlc¢' and have b￿n pr¢p81rd in &¢¢tsrdai)¢¢ with the requir¢m¢Jits of the Compani¢s A¢t 2006. for oplnlo W¢ ¢ondu¢t¢d oiir audit In a¢¢ordan¥¢ with Ini¢i'iiotioii&l Stsndw'ds Oli Auditlll8 IIIK) II%A8 (UKII alid applicabl# liiw. Oui. r¢spoiJ3ibilitsu und¢rtliog¢ Its1)da￿s Ar¢ liiiih¥r d¢%¢i'ib¢d iii lh¢ Auditors, 1rspo1￿1h1j1ll¢s for th¢ lliidlt of th¢ fiLlan¢i*l $thtemcni.s s¢Ltioii of oiir r¢port, W¥ url iii(l¢'pcndLiit of the ¢hllriiubl¢ ¢ompwiy li) a¢¢oi'duiic¢ with Ihc ¢Lhi¢nl r¢quimneiits thai ￿,¢ rcltVOJJt io our fludii ()[ th¢ fin4n¢i41 slul¢ni¥iits' In Ihc Unltcd ICiDxdum, inLIutiiii& the l.'i114n¥ial KL'poriing Ltsuncil's l.'rhi￿l Staiidard, aild w¢ havt Ilillrd our odier ¥ililL'ul T&spiitssibiliUv% in airi>rdyi)¢¢ wilh th¢%¢ r¢ÉiuiremrnL¥. We brlibv¥ tiialthc diidlt cvldbjicti we hav¢ obtained is suffielent and ￿propriate to pmvld¢ a bft518 foK our opliilon. ConcJuslon5 relatlmg to golng conctr In auditing thr t]nan¢lnl 5tatcmenL% w¢ l)aY# ¢on¢lud¢d th&t t]1¢ Tru$iees' use of die goin8 cOn￿n basls ot o￿O￿ntItIg in th¢ prcparailon uf the flnahclnl $tRt¢it)cntS 18 appropriate. Based oll Ihc work we have perfoniicd, w¢ have not Identitlcd atsy Jllllt¢rlal iiiic¢rtainti¢8 rel￿tl￿g to ev¢nlY or coiiditioi)s thul, jiidividudlly or collcctlvcly, tiiay cast 8l8niticsnt (loiibt on thc cliarithlTrl¢ company's Ability (o contiiiue lls a going concern for aperiod ol'ui leost twrlvc illi)ntsi% fr()Jrt wlicn tlie firiunLi&l 51at¢iyients aro &uih(>ri$ed forissuc. Our w4ponsibl1til￿ 4ndthe respon$tbllilt¢s of the Tn￿letS with re5PCCt to goin8 con¢¢m are described ltt the T¢l¢vuni sxtloiis of thls report. Other informatlon Th¢ oth¢r infurn)ation Comprises the informfjiion Included in the Annulli repori otherthan the tlnonclal 8tat¢m¢Thts and our Auditors, r¢p()rt Ili¢i'eon.'Ilie'lrusi¢¢s r¢K r¢spvn&ibl¢ Yoi. the other iiiformati(Trn conlaiiie(I within the Anniial rrpoit, Our opiiiioji oi) lh¢ tinancial 5tat¢ni¢iits d0¢5 nol rov¢r th¢ oth¢r infor1n￿lIOn pThd, rxrcpt to th¢ Extenl Oth¢TwI￿¢ ¢xplicitly 51alcd in oiir r¢port, w¢ do not ¢xpr¢55 any forjll of ll55urth￿ conclusion th¢rcon. Our rEspoll3ibility is to r¢ad th¢ oihci infomialioii and, in doiiig 50, con8ider wlicthw thc oth¢r iJ]fomiatiOn 15 ￿￿teri￿llY iNcons15tciit with the fmaiiciRI 3latement8 or our knowl¢dgc obtaihed in the coursc ot'thc audiL or oth￿Wi.￿e app¢ars to be inatei'ially mlsst&tcd. If we idbntify siich material incongi8t¢ncits or apparent inaterial Jni5St&toinenls, we are reqiilred to dEtermine Whet1￿ diiB gives risc to a in&terial inisstateniellt in the fliiaricial stateinenls theinsclve8. IC ba5Èd on the work we h8V¢ performed, we concliide that there ss a material Jnissl&temcnt ofthis other uiforniatioii, we are required to report thot fact. We hov¢ nothing lo report in this r¢g4rd. Opinlon other mAtter5 pre5crlbed by the Co]TJpanie5 Act 2(106 In our Opillion, based on the work ulldertwk¢n in the Lours¢ olth¢ oudit.. (he inforjndtion given in the Trustees, report for the fJDancial year fur which the fiDanci&l statements are pryared is consistent with the fjnancial statements. (he TrLL$te￿, report has been pwared in acLordallCe with &pplicAble legal requirements. PagE 17 Age UK Bexley (A ¢omp¥ny Ilmltsd by guarf4ntee) Independent Auditor81 Report to the Trustees AS & body ol Age UK Bexley (contIn￿ed) Mntt¥n OM whl¢h w¢ arè requiY•d to report by ¢x¢epti(bn Ill thc ILght of our knowledgc Rnd understanding ot'the charitable comp8ny and iL4 envirotynent obtained in the course of tho audiL we hav¢ not Idcntificd mstcrial tn19s(aterncnts it) the Trustru, report. W¢ h8vc nothing io r¢port in r¢sp¢GL of Lhe following mAll¢rs in r¢laiioll lo whiih Companlcs Act 2006 ￿qUir¢S us to rtport tD you If, in our opinion.. udequatB accountliig records have not been kepk or rctums odequate for our audit have noi b¢¢n r¢¢¢iv¢d from brAn¢h¢s iiot visited by u¥. ur th¢ IinwiLlal statem#Jits not in 41'ecm¢iit with the ucoountin8 J'scord5 and ￿turits. or c¢rthin disblosur¢s ot Trusteei remuntsrutian spccitied by law ar¢ not madc. or we h4ve n()t r#ts¥ivrd ull thc inlui'matiiin ￿]d ¢xplunHiii)iis we rcquir¢ fur our audlt. or lh¢ Trusi¢¢s wertt nul rnti¢lcd lo pr¢phrr di¢ financiul ¥I￿l¥M￿nI￿ in uicurdllnGe with the 5mull compaiiies reglrne aiid take advarjtage ofthe sinall Lompani¢$' ¢x¢Iiiption¥ in pr¢parin￿ Ll)e Trus￿¥$, rrport und troin Ili# Tcquif¢Lneut to ptepor¢ a Strat¢8i¢ r¢poit. R¢$ponJlblllths oftru$toes As ¢xplaiD¢d mor¢ l'ully iti th¢ Tru9te¢l wponsibllitlcy stal¢m¢nl, th¢ Tru8te45 Iwho ar¢ the directrjrs ot tho eharitabl¢ eoimpdrty far the purpo&es uf ￿mpujI), Ifjwl ar¢ r¢sponJibl¢ for ilie pr¢i)￿raTIon ollhc fli)wi¥lnJ sthi¢m¢iiiS alid flir brinK %atlsfiul tliai ih¢y givo a ttue and fail. view, lind foi. Such lili¢m*￿ o)ntyol us Ilic'lrust¢¥s d¢i¥rmiJ)¢18 nx¢syary Io ¢lhabl¢ th¢ prepOtr&1iiMi ufiiiiwiclul 3ialeiiiéiits thaL ar¢ fi'ee frL)tn muteri41 ni144tlltemttnt, wlL.th¥r due io fr&ud or Lrror. In preparinB the financial stAtemenK th¢ Thste¢8 ar¢ wqpoiisible for ￿￿¢881￿￿ the charltable coinpony'l obility to oon(inue a% a going ¢onb¢rn, di%GIosin￿ li¥ &i?plibal?Ir, Ill￿tt¢r.￿ rrlal¥d lo gÉ)iii% LL?ni¢m Jiid u%iii8 th¢ ￿01n￿ COlibLrii bo&i5 (>f acLouiiLiJi8 uiilcKs Ihb Tru81CeS ¢ldier iTht¥nd to114uldai¢ Ili¢ ¢haritsble coinp¥Jiy or to ¢¢ase opcrutiOll4 or h&vo iiu r¥&lisÉic lllt¥riilliive bui lo do 80. Awdltor$' r￿pOnsIbilItIeS for tho oudlt of th¢ finRnclal stRtements Our ol?j¢¢tlv¢$ are tD obtaiii reasotsnblc fissuraiir¢ abolit wli¢tli¢r t]ic finanDiRI 5tatthitJit8 a5 & wholo arc frcc from Jn&tbrilll mls.wlalrmcnU wh¢thei due tv fi%ud oi. ¢nDr, fjiid to issue t￿1 Audiiors, report thllt Iii¢lude8 oiir opinion. Rcll8onable assur&iicc is a hl8b Icvcl ol.. ssurnnc¢, but Is n01 a guui'iiotee that an ￿di1 wtidi1ct￿ in llc¢ordaiiie wlih ISAS IUKI will always delect g M￿terIal missr&i¢iiieiit when it rxist8. Misstat¢mviit$ cllii aris¢ Il'om fi'nud tsi. ¢i'itii' aiid Rr¢ coJisldur respoiisibilities, outlincd above, to dotcct M￿terIaL inissl&tcmcni$ in rcspcct of irrLgularitl¢8, including fraiid. Tli¢ Bxt t¢StedlouTn&l entric5 to id¢lltity unusual trall5actions' 5S¢S8ed whetherjudgements 8Lid assuinptions rn&de in dctcrinlningthc accounti￿ ¢s¢itDat¢8 8¢t out iii th¢ Hwuniing poliGic3 were indicHtive ot potentl&l bi&s' 8nd illve8tiBated th¢ rationale b¢hind si8nific&llt orurnusual trdnsllctions. In response to the risk of Irregul8ritieg and Thon-complipnce wlth laws alld rc8ulation4 we designed procedure8 which Included, but were not liinit¢d ¢rtr'. greeing fittaii¢lal stst¢m¢nt disclosures to uj￿¢1'1Y1llg aupportin8 do¢um¢iitatiibn,' rcadlng minul¢s of Inc¢tinss of thos¢ chwg¢d with 8ov¢rnanc¢', and ¢nquiring ofmanll&einent aiJd repirs¢niailves ot Trustees as w aciual atid pot¢ntl4111118atirin and claims. Thrrr yre inhrr¥nt limltstions iii Iiitr aiidit prvcediireb dr¥iribed #bi)v¢. As a r¢%ult tlirrc 1% a ri%k that w¥ wlll iiot d¥t¢bt all Irr¢guluridcy, inbludinÈ ili()%e Icltdln￿ in a matcri&l ml$siai¢nieiit In th¢ flnaiieial gi&teimenl8 non-compliancr with reKiilth(ion.'I'hl¥ riyk iiiLl.#￿5eS the mDr¢ that compliance with a1sLW orregulation Is r¢miTrv¢d fi'ijirt th¢ evonts and trans&ctiorL4 refl¢cted in tlie linancial stalements. 88 we will be less likcly to bec01￿C AWAI'C of instaneeg of jioii.coinplluii¢e. Th¢ J'lsk Is also w'¢ater LtE(trding irre&ulhriti#s occurrin8 due lo fraud rnther th￿1 error as fraud ILivoIv¢8 ilitcntionol conc¢alineLiL (or8¢ry> coIIu51011, omission or mlsrBprey¢Jitatloll. A furth¢r d¢scrlptson of our r¢8pinsibilid¢8 for th¢ audll of th¢ fiiianGiAI st8tetD¢Dts 15 lO￿t#d on th¢ Fln4n¢ial R¢portin8 Coun¢il's w¢b8it¢ &i'. . This du¢rlptlon form5 P¥Lrt of our Auditors, r¢port. Uit of our YepDYt Thi% r¢port Is mfid¢.*Dl¢ly to ¢h¢ ¢harit8bl¢ Col￿panY'S Iru8L¢¢8, as a body, in acoord4n¢¢ with Chapt¢r 3 of Pan 16 of th¢ Coini)nni¢s Act 200CI, Oiii. audit work hus b¢£n uiid¥nukgn so thut we nii8ht' ¥iAl¢ lo th¥ chgritublc ¢umpJny'¥ tyust¢es those matt¢rs we ar¢ required to 81ufy Lv ih¢ni In Audilor¥' report iind.I'oi no Oilier purpu¥¥.'I'o the fu11tt41 exl#nl permilled by law, w¥ do noi u¢¢¢pi oi. ￿&unle resp￿n511)IlltY to uiiyune uth¢r thun th¢ Lhwituble company wid its meinbers, as a body, fL)r our &udit work, tor this r¢pL)rt, or for ihe opiiii()ii* we Iwv¢ formed. Allan Hlckle FCA Isenifjr It￿tUtorY auditor) for aiid on bchalf of UHY'Kent LLP Chartered Account&llts Statutory Auditors Thanies Houye Rom&n Ss quarc SittiDgboum¢ Kent ME104BJ Dut¢: 20 December 2023 Pagc19 Ag¢ UK B¢xley (A compAlly limlted by guarantee) Stat¢inent of flnAncllll activitie5 (incorporating illcome and expenditure Account) For the y￿r ended 31 March 2023 Unr¢$trl¢¢¢d funds Restrlcted fund& 2023 Z023 Toknl fundj 2023 Torol 2022 Nots lucomo from: Dollation& and legacies ChrltAble activitics 45,142 558,478 6,038 45,142 686,340 6,038 32,482 623,540 94J 127,862 Investm¢nts TotAI InconJ• 609,658 127,862 737,520 662,963 Exp¢ndliuY• on: Rolsijig fuiids Ch4rilablo a¢tivltios 2,508 548,556 2,308 686,866 2,767 673,834 138,310 Tot#1 expéiiditur• 5J1,064 138.310 689,374 67tf,601 Net liicoinellcxpellditurol bofore n¢t 110sF￿)I¥￿I￿l on Invt8tsnonts Nel Ilo¥.4&8yk*uin¥ oil ii)v¥stm¢nt¥ 38,594 133,5501 110,4481 48,146 135,550) (J3,638) 1.180 Net IncomtllexpendltuY¢) .S,t¥nsle￿ b¢tW￿j1 t'unds 23,044 17391 110,4481 739 12,596 f12,458) 19 Net movoment In fuAd$ 22,305 19,7091 12,596 {J2,458) ReconciliJtlon of fuijds: Total funds brought forward Nel In()vcment lil f1Jnds 541,533 21305 14,913 19.709) 556,446 12,596 568.gQ4 (12,458) TeJtg1 thndl ¢orrl¢d foywird 19 563,838 5,204 569,042 556,44 The StKtrment of Flnancial Ailiviiles TtJ¢ludes guins and losses recognised 51) the year. Tl)¢ not¢5 011 pagcs 23 to 39 fom) part of thek finartclal stat¢ments. Page 20 Age UK Bexley {A company limlted by guarantse) Reglstered ttumber: 04244876 BalAn¢¢ Nheet As At 31 March 2023 2023 2022 Not¢ Irixed A58ets Tang5bl¢ assets Inv¢8tm¢nts 13 14 59.377 318.960 67,264 358,659 378,337 425,923 Current Assets D¢btors Inve¥tnient5 15 27,271 12.678 221,257 50,498 JJ,560 149,232 Cllsl) llt bdiik and In hand 26l,2Q6 2JJ,296 Cirditors.. amounts falllng du¢ withln one year 17 170,501) (8Q, 773) Not turreAt aiJetB 190,705 130,523 Totll not a88tts S69,(H2 550,44 CIIArlty furtdi R¢3tri¢teil funds Unr¢stri¢t¢d fiinds 19 19 5.204 563.838 14,915 Tolxl fundy 569,042 550,446 Tlic ent'ity cntitlcd to ¢xcmptithn from wdil und¥r 8e¢Lioii 477 iTrf the Ci)mJ)4niG% A¢t 2006. Th¢ member8 hav¢ noi fEqiiird the entity to obtsin an &iidit for th¢ yw in question in &¢wrdart￿ wilh s¢¢tioii 476 ofih# Companies A¢1 2006, Flow¢v¢r. an audit 18 fcquiTrd in twcord&n¢¢ with 8¢¢¢ioJi 145 Ol-. the Chfjriii¢s Act 2011. The Trus¢¢e8 acknowlcdge their r¢spi)llglbllitIe$ for ￿MplYIllg wlth th¢ r¢qulr¢m¢nts of th¢ Actwith re8pect to accountin8 records wid pr¢paration of financial ststements. The financial statements have becn prepared in aceordancc with the provi8ions applicable (o entitl¢s subjectto the Sm￿1 wmpgnies rcgime. Th¢ finan¢ial stat¢m¢nts w¢r¢ apprDv¢d ond authorised for issu¢ by th¢ T￿￿te¢S and 51gn¢d Dn their beh￿r by.. A.Pong {Chaii of fruste¢s S. H¢)Im ITre4siirer} Date.. 13/1112023 I21111￿2 The notes on pog¢s 23 to 39 form p8rt of these fi118ncial st&ttments. Page 21 Age UK Bexley (A ¢ompAmy Ilmlted by guarants¢) Statement of cash flows For the year ended 31 March 2023 2023 2022 Note Ca&h nows from operAting actLVities Net cash used in op¢￿tIng &ctivlti¢s 21 62,343 (8,691) Cash flowg from Invutlng aetSvltley Dividends, interests dnd rents from inv¢stmeJits Pur¢hJse of iwgible fixed assets Proceeds frorn sale of investments Pui'cha8e of inves(InenL8 6,038 6,941 (12,308) 33,492 (28,926) 13 14 14 50,926 {46,778) Net eftih prTrvlded byllu5ed In) I￿V￿tIn# actlvltl 10.186 {801) Chnnge Ill chsh eash equfvalonts In th¢ yeAr 72,529 19,492) 170,290 Cth And Casli equivAlcttis at die beginning ofthe year 16U.798 Chsh ind ¢Thsh •qulv41¢nls a¢ the end of th¢ year 22 233,327 160,798 Thc notc8 01) pd8￿ 23 to 39 form par( of fIn￿cLo[ sts(ements Page 22 Age UK Bexley (A company limited by guarontee) r4otes to thc financl41 ststem¢nts For th¢ year ¢lldod 31 March 2023 G¢n•Yil InformlltLOII Age UK BexlEy, the 'Charity Is a company limit¢d by 8uwant¢4 r¢gistcrc4 in F.ngland atsd W￿65. Its r¢gi81cred otfice i5 Belvedtre Community Centr4 Mtchell Clo84 Belv¢d¢r¢, Kent. Engjand, DA17 6AA. Accountlng pollel•8 2.1 BA81$ of propar4tlon of flnhnclil $tat¢mtnts The fjn4nc1&￿ stht¢ments have beeii preparcd lil aLcordAncc with the ChwiU¢s SORP (FRS IQ2) l%¢cond cditionl Aecuuntlllx lln(l R¥porting by Chsrlti65'. Stthement of Recoiniiiended Pr4ctice applicablc to charitl¢s pitparing thelr &¢ctsiii)LS in &LcoriJuLILC wlth the l.'Iiiuiicial Ileporling SttJnLlard Rpplic&blt in dje UK and Republi¢ ot Ireland IFRS 1021 leffe¢tivc l January 20191, the Financi41 Reporting Stsiid4id appli¢ablc in thc UK and Republi¢ of Irelottd IFRS 1021 and the ConipaftiEg Act 2006. Ase UK Bexl¢y ineets ihe defjnition ot'a publlc benefit ¢nlity undw FRS 102. A&%eL$ attd li&blllties &rB initially ro¢ogni8¢d t historlcal ¢ost or trftnsaction vdu¢ unless othenvise s14ied io the r¢lev&nt accounting policy. 1.2 Golng conctrn Th¢ Tnk$¢ee8 whethor Ihe 118e of solng coiic¢rn15 Rpproprillte 1,0. whether there en ony materiAI uncertaintles related 10 ¢venii or c()iidl¢ioii% that MAY Lll%t si￿nI£lL￿NI duiihl ()ii thc &billty of the Lhari¢y to ¢i)ntinu¢ lis u golni ¢tsnce¢n. I'he Trustebs mAkt this fis8r$sniei)t in rc%prcl (If a pcri()d i)f al ILus1 une yeyr fj'om die dat¢ of twtsJ()rixiition r(>r l%%uc the t7nanclal ￿ttiMellts. I'lic .1 ru.ytccs TcgUli￿lY rcvicwiiig tlIL l?iJYine%¥ m￿cl of lh¢ Lharliy with thc Chicl. Executlve Oftic¢r alon85ide reaching new ￿utIding o8roemonts wlth tundinB bodi¢g. Iii makinm Ihttir osw8ymeJil, the TriislLLb h&vL wn¥ideiYd lh¢ ¢wnomi¢ ¢lirnR¢e b(>th witliln th¢ UK and worldwidc. the cost of livin¥ Lri%iy the Liirrtnt p(IlitiLul insiubility, bill %rtill remiun ¢'oiifident that th¢ Charity is r¢I￿1v¢1Y prutcctcd fivjn beitig &dvcrscly Uffcl￿d, and yiih%t4nual fund¥ uv4ilyhl¥ lo th? Charlty support Ihls. In ¢onolusioD of the aknv¢. the Tiustees hav¢ ¢Mr¢fiilly ¢01isid¢red whether the Charity rcmwng io be u going concern lliid have ¢on¢lud¢d that th¢r¢ 18 8uffi¢i¢nt ¢vlden¢e fvr them to rrmain 8 80ing ¢oncttn. 2.3 Jn¢Dm¢ All incoime 15 recognised oncB the ch￿.ity has entltl¢ment to th¢ incom4 At 18 probabl¢ that th¢ inGom¢ will bB rEeeiv¢d th¢ ￿l￿Ount of incotnc rccciviblc can be meosured reliably. arants inLlllded In ilje Stuicni¢ni uf linunciul uLtsviii¢s on u re¢eivubl¢ basis. The balunce of in¢oJlle r¢¢eiv¢d for .%pccifi¢ purposc.g hul nttt cxp¢ndcd during thE ￿ri1)d 1$ shown the rel¢vairt t'unds otl the Balance sheet. Wheir incom¢ is re¢¢lv¢d in advth¢e Df eiititl¢m¢nt of rcctipt, its rEGognitiOll Is dclerred and includcd in creditor3 os d¢feN¢d in¢ome. Wh¢r¢ ¥ntitl¢lll￿lt o¢¢urs bEfor¢ iii¢om¢ 15 rcceivc41, tli¢ iiiGomB 15 Bccrucd. Thc recogllition of incoin¢ from l¢gRcies 15 dcpcndciit on cstablishing cntitl¢mu1L tlic prohalillity of r¢r¢ipt alld th¢ ability to estimat¢ with 5UtYicicnt accuracy tile ￿n0￿￿t receivable. Evid¢n¢¢ of ¢nlitl¢m¢nt tts a Irgaw ￿lSts wh¢n th¢ CliaTily ha5 Sutticient Evidence that a gitt has been lett to them (throiigh knowledge of th¢ exi$t¢Ac< of & valid will and thc dcatli of thc bell¥factorl and the executor is salisfied that die propcty in question will not be required to satisfy cl&ims in tlic cslats. R￿cIpl of a IcgdLy musl be rcLognised wh¢n il is probublL that it will b¢ receiv¢d aiid the fair value of tlTre 8mount r¢¢¢iv&bl4 whi¢h will g¢n¢rolly b¢ th¢ ¢xpcGt¢d r4sh amount to br dlstributsd to th¢ Ch￿ity, be reliably measured. Donai¢d facilitl¢s aiy r¢¢ognised whtii th¢ Charity has cotttrol over th¢ Item, any conditions associllied with the duiiaied itein have b¢en in¥L th¢ re¢eipt of eL'onomic bencfit from the use of tbc eompany ofthc itcm is prob8hle and thal cr(Aiotnl¢ b¢ii6fit Gan b¢ mcasured r¢liably. On receipt, donated fwilities 8re recogn￿Sed on th¢ basis of the value of th¢ gift to th¢ Charity which is th¢ arnovllt tJi¢ Comp￿lY would have been willillg to pay to obt&iii s¢ryic¢s or facibties of equIV￿¢￿t cconomic benefit on the O￿n￿arket. a corirspondliig amoun( is then recogttised in expendlture in th¢ p¢rlod of rcceipt. Other illcome is recognised in the period ijj which it is r¢¢¢ivabl¢ 8nd to the ¢xt¢nt th¢ good5 have bcen provided or on completion of th¢ service. PagE Age ifK B¢xl (A Company Ilmlted by guarantee) Note5 to the financial ststernellts Vor the year ended 31 Lvlarch 2023 Aceoulltlng yoli£leJ Icontlnuod) 2J Ineomé (eolltlLu¢d) Th¢ valuB of 5trYlc¢s PTovided by vulutLtegrs has not b¢cn included in thc accounts, oth¢r than a8 described below. 2.4 Icxpendlture Expenditure is r¢¢ognls¢d once t&¢r¢ 13 o l¢g81 or wnstru¢tiv¢ obligation to tran3f¢r ¢conomic b￿efit to & third paty, l( Is probable thot a tr8n8f¢r of e￿nomIC b¢J)¢fjts will b¢ r¢quir¢d ID sottl¢m¢iit and the amoimt of thc obligation can bo Ineasured reliobly. Expeiiditure 1$ rc¢osnised once there 18 a le￿] or construcllvc Obliga￿On lo transf￿ economic bcn¢fit to o third party, li Is proliable that a transfer ol. ¢conoini¢ beiiefils will b¢ required in seitlenieiii and tli¢ amouilt of the obligatioTr con bc In¢asur¢d r¢liably, Exp¢nditur¢ is ilussifird by activliy. Th¢ ¢vsts' uf &ctivity Inud¥ up ut. th¢ iotul ol. direct costs id sliai'¢d iiicluding.%upport Co￿$ involv¢d Iii uiid¢rlakiiig ¢aLlI uLtivliy. l)iircl Lu.¥L¥ AiiribulublE to IL 8111816 uctivity allocotsd dir¢¢tly to thai u¢tivlty. Shar¢d ¢oAis which contribute i() nior¢ th411 ()ne ￿ctIVItY and 5iipport C09t￿ which ure iiot qttribuiobl¢ lo a singlc a¢iivity are &ppoilioJ)cd ￿Twe¢ll those activlties oli a basis ctsnlistenl with Ihc ust of re8ource¥. sl8ff costs are ￿l0¢￿ted on ihe basls of ￿me speni and depreelation cliArg¢s allocAttd oi) th¢ portion of the ￿set'S Bxp¢iiditure Un rttisiiig fundy InLludey all ex[￿nditUre InLurrv(I l?y the C.h&rity to rwse tund8 for it5 thuriifibl¢ purposes and Iniludc.% ci>%lS ofall I'undr&L%ing ablivities cveiily nollrfharitsbl¢ tra(IILI8. BxpenditurB 011 cliarilal?le aclivitic8 is incurred on dircctly undcrtvkinB thc llclivitles which tknttb¢r tli¢ Charity's obj¢¢tlv¢ as wcll aq &iiy &19ficilllLd supi)uA co$lA. All ¢xpgnditur¢ is in¢lusiv¢ of irr¢¢ov¢rable VAT, Volunt¢ei' Iw8ts its¢lud¢ tr&v¢lllng, trninin8 alld r¢ft¢shm¢llls llt mErting8. 2.5 Int¢re8t rcrclvAble Iiiterest on tunds held on deposit Is incliided whcts reccivable and tlie amournt oaii be Ineasured relillbly by ihe Cknrily. this 1$ norinally upon notification of (hc interest paid or payablc (Try the instittition with whorn the I'unds are depnsit¢d. 2.6 T&xlltlon 'I'hc C.hRrity is c(>n%tdtrcd lo pags tht te%t$ let ftrut in lJar4gr*4)h l 8¢hediile 6 of the I,'ii)#nc¢ Act 2(JIO and tlieirfore it ni¢ets the d¢finition of a ¢hwlt8bl¢ company for UK ¢orporntion tox purpos￿. Accoidingly* th¢ Charily i5 Potgntially &x¢mpt from (Mxution in r¢sp¢¢t of ill¢on1¢ or ¢iplta] gains re¢¢iv¢d within cat¢gori¢5 covcrcd by Chapt¢r 3 Part I l or th Corporation Tax Act 2010 or S¢¢tion 256 of the Tax&tioo of Chargeable Gall￿ Act l JI 92, to tt]e cxtcnt thot such incomc or ¥ain& ￿pplIed &x¢lusively to ¢hsrlt#ble purposes. 2.7 T￿nIlbIe fixed *58ets depretihtiort T%u)giblc fixed assels costin8 £2,500 or morc aro c8Pitaliscd and recognised when thtur¢ ¢¢onomi¢ b¢nefit8 gJe probabl¢ id th¢ c08t or value of t1￿ asset Can be mcasured reliably. 'rangibl¢ fixcd ass¢ts arc initially r¢VDgni￿d at cost. AftrT rKognlt1o￿ undff tIIE cost Inodel, laiigiblt r￿ed ￿Sets Hr¢ ￿e￿ired at ¢ost 1¢5s a¢¢umulated d¢pr¢Biation and aw a¢Guinulat¢d impalriiiGnt Ios5C5. AII c08t5 incurred io bring )￿ble fixed agsd into Its int¢iided worklng corndition should br includ¢d in th¢ nicasiirGineJit ol cosl. At eacli rcporting date thc Charity asse￿8 whether there i8 any indication of impa£rmenL. If such iiAication exists, the r¢cov¢rabl6 ￿Thou￿t of the assEt is detErmined to be the higher of its fair value less costs Lo sell Blld ils valu¢ in use. An impairM￿t loss recognised where the carrying amount exce¢d8 the recoverable atnouiit. Pag¢ 24 Ag¢ UK Beyley (A company Ilmlted by guarantee) Nots$ to the flnanclAI statemeDIs For the year ended 31 MAreh 2023 Accountlng pollel¢$ l¢onilnu¢d) 2.7 Thnglblo llxtd ASg•t$ ind dtpvtciAtion {continued} Depreciatlon is Ch￿Sed so &8 (o allocate the cost ofton8lbl¢ fix¢d assms less their residual vaJu6 over th¢ir Ntimat¢d us¢fyl lives, uSI￿g the straight-lins method. Th¢ ¢9timat¢d u3¢th1 live8 range as follows.. Sliortstcrm1oa%rhvld PTOPCtty Plaiit and maLhinery Flxtur¢s And fittlngs Offl¢e eoulpintnt 50 years 25 ycars y¢8r8 ye8r8 The assets, residuÈl v&lue$, useful Ilvcs and depreeiation n)¢thods ai'¢ reviewed. and adjustod Pr08p¢￿v¢IY if appropriat4 or if tliere is ali Indlcatioji of fi gignltic&nl clJAiige siiice the reportiJ)g dfjt¢. 2,8 Inv•stm¢nts Flxed &8Y¢t Inv&qtmenL$ a form fkr rinmcl￿l irL8trument 4nd Rre Inltj8lly rec0￿119td at thelr trAnsa¢tlon cost ortd subs¢qu¢ntly measiired al lalr vt41ii¢ ai th¢ Bulyi)Le %h¢cl dale. iinlL¥$ thc v&luc ¢&nnot b¥ In¢fj%ur¢d I'cliiibly In whibb Gu$c It 1$ IneJ¥ur¢d ¢osX l¢ss IinpairinLLlt. Iiivcstsnciil gail)$ und 105sL8, wh¢thcr r¢ali8¢d or unreolised, are ¢ombined and pres¢nlcd 'CJuiiisll]￿sb(s) 011 jJlVCSthlbJlts' in thL 8iatcmLnl of Iin#nciul ii¢tivltLes, Falr valuc 15 determitted by the ChThrity'$ Inve$tm¢nt portfollo mwia8¢r, using ¢h¢ niark¢t vlllu¢ of th¢ listed illvestineht shares at the Balattcc sh￿t date. Current ￿Set investments are those iLive$lm¢n15 h¢ld whl¢b 8re ¢xpe¢tsd to bc liqiiidatod wlthin the next iw#lvc months. 2.9 Vlnanellll Initruments The r.harlty only has a￿1$ And fliianclal liabiliti￿ of a klnd (hat qulliify os b8$1¢ finJll¢lal lllstnim¢llts. BRslr finunclal i1istruni¥nt5 arc iiiilially rccogiii5cd at tra115aGlii?ii valLlC und 4111?%eqiiLntly me¥¥Jr¢d ut thelr settleinent value wltli thc exc¢piion of bRrJk loans whlch arE subseqiicnt.ly Met￿Ur6d a¢ aiiiorti8ed ¢osl usinB the efte¢iiv¢ inteiest nivthod. 2.10 Operatlng leHse8 Rentsls putd und¢r op¢ra¢illg le￿¢3 ar# ¢harged io th¢ Stat¢m¥nt of fill4nciaJ acLivitic6 ot) a straigjit line basis over the lefjse term. 2.11 P¢n$lono '1￿¢ Qliarity op¢r&tes a defilled coiitribution pension scheme wid lh¢ p¢n8ioll ¢harg¢ r¢pr¢$rnts the wnoullts payabl¢ by the Charily to di¢ fund in respect of the year. Tht Charity is J mertiber of a mulLi-¢mpluyer y¢hrin¢. Th¢ s¢li¥me 1$ a defJD¢d lienefit scheme in th¢ UK, which provides bcftcfjts t• gomc 950 llDliWa&￿0C18(ed partlcipatlllg ¢illploy¢rs. It is iiot PO55ible for ti)e Chority io obtain sufi'.i¢i¢nt inforinatlon to ¢nabl¢ it to arcount for th¢ plall as u d¢fLiied b¢n¢fit schtrmc, it thcrefore gccounts tor th¢ plan AS & d¢fii)ed contribution s¢hem¢. The $ch￿tte is subject to the funding legislation outlined ill the Pension8 A¢t 2004 whitih ¢am¢ lllto forc6 on 30 D¢o¢mbEt 2D05. 'Ilii5, together with documeiits issued by th¢ Pensioiis Regulawr and T¢¢hni¢al A¢tuarial Standard5 issud by thc Fin&nciai Rq)ortll￿ council. get out the framcwork for funding defJn¢d beJ)¢fji oc¢upadonal pcnsion 8chemcs in the UK PagB 25 Age UK Bexley (A company limited by guarantee) Notes to th¢ financlal 5tatemcnts For th¢ year ¢nd¢d 31 March 2023 Ae¢ounlJllg pollcles (¢ontlnu¢d) 2.12 Fund occounting G￿ler&I funds arts unrestricted fulld5 which al'e availublB foi. ust at the discretlon of tlie Trustocs in furtherancc of the gcneral objectiv¢8 Ot the Cli￿ltY alld which hlvc Jiot becn des18n￿ted for other purp08¢8. D¢signat¢d funds compris¢ uni'¢3trict¢d funds that have b¢en set ￿lde by th¢ Tru$t¢u for parti¢ular Purpo￿$. Th¢ aim and u$¢ of ¢A¢h d¢si8n&t¢d fund is s¢t out iij ihe not¢8 lo die finon¢i&l s(ateJn¢nts. R¢sii'i¢t¢d funds ar¢ fund8 whicb ar¢ ¢0 b¢ used in a¢coIrfan￿ with sp¢¢ifi¢ rcstrlciions imp08¢d by donors or which have b¢¢n rals¢d by tli¢ Chaiity fi)r parti¢ular purpos¢s. The costs of rAisin8 aiid &dininisteiing such lunds are ¢har8¢d 08ainst ti)¢ sp¢¢ifl¢ lknnd. Th¢ alm and us¢ of each restrict¢d 11)iid18 s¢t Qui ill the iJotes to the fJnaiJcig1 stAteni¢iits. Investmeiil incoixep 8AIIig losses are allocate4J to the appropriaie tknnd. Crltlchl accountlni eatlm&te%i A55umptlonJ Hnd ArewA of judgment F,stlinfite8 and judginents are continually ovaluated and arc l?u8cd oil hi%¢orlcRI experience and other factors, including expectations of fvture events that gre l)tllcvcd t() bc r¢￿()n￿bI¢ undcr ihe cireumslaThces. The Tru3te¢g con¥iderthat th¢re &re tWQ 3u¢h 818nitl¢4Dt judg¢ments impucting on this yearf3 fin4ncial 8t&tem¢nts'. Th¢ sch¢me 58 C1￿$s5￿.1¢d Js a'l8strmiln %tsndlnx uiThn%cment'. Tlicrefnr¢ the compRny is polentially Ilable for oiher parti¢lp8ting %¢li¢ni¢, I'urti¢ip&ling ¢inpl(iy¢rb legdlly r¢qulred io Iii¢¢l Ih¢ir 81iuiY vf th¢ s¥h¢iii¢ d¢lL¢II un an #nnuiiy purihds¢ busis on wiilidrawal froni the s¢li¢me, Multl.¢miiloy¢r p¢n$lon icb¢mty As drtailed In ll¢Gountlll8 poll¢y 2.1 I, the Charity participates in a multi.¢mploy¢r defincd ben¢tJt $ch￿ne. The 3rlidn¢ Ss la5sifi¢d as a'last niaii 51aiidiiw Rrrall8¢m¢nt' ctB. with text from th¢ lasi para of whgt 18 Curr￿tlY iii 2.11. 'rhe Charity has not been inads aw￿re of #ny withdiAwal from the sch¢iM¢ by other partlolp&tJng employers and so rto provislon hlls beEn mad¥ iii th¥se acbounts for any liabillti¢s connected to th¢ pension s¢hem¢. LeA8e tontlngtnt Ilablllty As dlsclosed in ijoie 24 there is a coiitingent liability ii) re5pecÉ oc p05sibl¢ backdated rent paymcnts ttjat inay be due OTh the Charity's Icued property. Thc truste¢s have used thcir judgcmeijt to conclude that Ihc criteria rcquir¢d to provide for the li&bility Iiiiv¢ Iiut bcen rnel. Pag¢ 26 Aze UK Bexley (A company Ilmlted by guarantee) Note$ to the fjnanclal statements For the year ended 31 Mareh 2023 Inromt from don8tlon8 l¢gA¢I¢J Unrejtrlttod funds 2023 TDtal ds 2023 roial fynd 2022 DonAtIoTrs General donations r)oiiftt¢d f￿11111¢5 Doi)ations 8,}36 24,000 26,136 19,006 26.136 19.006 Gov¢mmen( grants 346 45,142 45,142 32,482 AnatyJlJ of2022 byfynd 32,482 32,482 Doiiated f&¢illiles Include the value for r¢Tht free premisos operRted th)m durin8 the year. ID¢ome from cbarltAble #ctlvltles by type ofintome Unr¢itri¢ted filndi 2023 Reitricted fwnds 21J23 701ft1 nd$ 2023 2022 Coii(rllCt in¢oine Grnn( incotnc 73,460 Iyll,876 256.212 28,616 73,460 319,738 256,212 28.616 69.028 336,228 170,307 26,338 332 2J,307 127.862 D￿Y￿¢￿tre in¥ome Nail Glippiiig iIicom# At Home in¢om¢ Other income 8,314 8,314 558,478 127,862 686.340 623.540 An¢Jly.Yi$ of2022 byfund 506,910 lJ6.630 623,540 Pag¢ 27 Age UK Bexley (A compAiiy limited by guarantee) Notes to the flnAllLial statements For the year tnded 31 imarch 2023 InvÈ4tm¢Dt Incom¢ UnreJtrlct¢d funds 2023 Totil fNnd 2023 rolal fvnds 2022 Local listed investments Foreign li%t¢d invc51mtnt8 Baiik interest 4.427 1.252 359 4,427 1,232 359 5,015 J,310 16 6,038 6,038 6,941 Anoly$l$ of2022 byfvnd 6,94J 6,941 Lnvestinent mAllfiièment costs Unr•¥trlLtEd TDknI funds 2023 ruiid$ 2Q22 202J Jnvestsneni matthg¢lll¢tst foc5 2,508 2,508 2, 767 Anttlyil$ 012022 tyfi4nd 2, 767 2, 767 Anlllysb of ¢xp¢ndl¢ur¢ tharitobl¢ h¢tlYill¢i SllmrAhry by fund ¢yp Unrwtrictsd fund8 2023 Restrl¢ttd fundj 2023 Totfvl 2023 TotGI 2Q22 Relief of ¢ld¢rty peopl¢ in and around London ]3oroiigh of Bexley 548,556 138.3 LO 686,866 673.834 012022 byfund 541,712 132,122 673,834 Pag¢ 28 Age UK Bexley (A company limlted by gufirants¢) Not&s to the financial Statements For the year ended 31 March 2023 Analysig of expendlture by xetlvl¢l Activitie5 ndertake dlr¢dly Support cost4 2023 2023 TotAI Total funds 2022 2023 Relief of ¢ldcrly people in and 8rouThd London Borough of B¢xl¢y 535.528 151.338 686,806 073,834 Au£Ylysl$ of2022 509,708 164,126 673,831 Analyjlo of dlrect costs Totgl funds 2023 Total funds 2022 Stoff costs 8tufYanil 88¢ii¢y c￿$ Voluntcer costs Ma¢¢riu1s 91111 activiti¢s 507,080 480,314 9,162 658 598 22,739 15.574 535,528 51)9, 708 Pag¢ 29 Age UK Bexley (A company limited hy gllllrantee) Note5 to tbe fillaThcial ststements For the ye￿r ended 31 March 2023 AnAtys15 of expendiknre by Artlvitiei Icontinued) AnAlyMls of aupport eosts To1￿1 funds 2023 7oÉal 2Q22 D¢preLiatioii Mainten&n¢¢ of premises R¢iil ttnd lilr# Other preiniscs costs T¢¢hnihlogy costs Advertislng Accountancy and psyroll costs L¢8￿ diid prof¢s$lDnal Govcrnanee costs Other w8t5 7,887 1,407 44,753 17.226 10,286 1,935 128 25.740 7.020 34.956 7,744 3.718 42,059 JJ,511 13,246 3,404 112 45,924 5,700 30, 7C18 151.338 164, 126 io. Audllor&' reMuMer*llon The aLiditors' rernuneraiion amounts io an 4udiloi' foe oJ'£7,02012Q22- £3.7001. ii. StAff coBts 2023 2022 Wuge5 and salart¢s Socirsl 5¢curity costs Pen8lon cosls 453,725 32,166 21,189 438,551 29,378 18,385 507.080 486,314 Th¢ avernB¢ number ofp¢r8ons ¢mploy¢d by th¢ ChArlty during the ye8tr W98 as follow5.' 2023 2022 Contracted staff 19 18 Bank stalT 24 23 Pag¢ 30 Age UK Bexley (A company limited by gufirantee) Notes to the fin￿ncl￿1 5tatem¢nt For the year ended 31 March 2023 ii. staff tOBts {continu•d} The average headcollni expressed as full-time equlvalents Wfj8.' 2023 2022 Contractsd 5tsff Bwth slwff 16 J6 No employee ree¢lv¢d r¢rtiurt¢rhtion ￿nOUn￿llg to moi* than £60.000 in eith¢T ycar. The key management per30nnel of Ihe charity ¢oinpri5es the Chief Bxe¢utivt Ofll¢er attd the Stnlor Manugement T¢am. Th¢ total aggregate ainounl of employee beiietiis lincludinB einploycr pknslon ¢ontiii)Ulion8 l￿d employer natlonal insurDn¢¢ ¢ontylbution31 r￿¢1V¢d by k¢y m￿jag￿nent prrbuiin¥l lor Ihelr s¢rvlL'eb to th¢ ¢barity wa$ £118,177 (2022., £142,234). 12. Tru8ltvJ remuner*tlon and expenses During the year, no Trustees received Hny remuneration or rfh¢r benefit5 (2022- £IIIL). During th¢ year ¢nded 31 M4rGh 2023, no Tru8t¢e expens¢s h&v¢ been In¢urr¢d12022- liVILI. 13, TAnglbl¢ flxed Sliort-term IrR5¢hold i)rop•rty PIRlIt InAchinery flttlng& ¢qylpni•nt Ttsl*l Cost At l April 2022 26,426 38.500 4,287 18.988 88.201 At 31 Mwch 2023 26,426 38,500 4,287 18,988 88,201 DtprechAtlon At l Apiil 2022 Charge for the year 667 9,857 1,540 1,875 1,072 8,5311 4,747 528 7.887 At 31 M￿h 2023 1,195 11,397 2,947 13,285 28,824 N•t bookv*lue At 31 March 2023 25,231 27,103 1,340 5,703 59,377 AÉ 51 2022 25,759 28,643 2,412 10,450 67,264 Pagc31 Ag¢ UK Bexley (A eompony Ilmlted by guaronte¢) Notes to tlje financial statements For the year ended 31 M4rch 2023 Flx¢d ngs¥t Inv¥$tm¢nt$ L￿ted Inv¢$lmtrn¢s Cogt or v•luAtlon At l April 2022 Addltion8 Di8pos&Is Revllluotlons 358,658 46,778 149,0821 (37.3941 At 31 Mor¢h 2023 318,960 Net book vxlu• Ai 31 March 2023 318,960 A¢ 31 Map¢h 2022 358,658 2023 2022 Inv¢8tm•nts Ht fAlr value ¢omprli•d: Eouit1¢3 l.'Ixed iiiterest seLwritie8 Alternativ¢ Inve5tm¢nts 176,349 83,611 59,000 203,395 79,910 75,353 Totsl 318,960 358,658 15. D¢btDr$ 2023 2022 Due within one yehr Trad¢ debtors Oiher d¢btt)rs Pr¢payiD¢nts and accrued illcome 25,748 182 1,341 27,668 14 22,690 27,271 50,4SI4 Page 32 A%e UK Bexley (A company Ilrnlted by guarantee) Notes to the finan¢ial statrnJ¢nts For th¢ year ended 31 MArcli 2023 16. Current A88et lllvutmen 2023 2Q22 Unli51cd illvcstill611ts Iliquidl 12,678 11,566 17. Crtditor$: Amoynts talllng du¢ wlthln on¢ yeAr 2023 2Q22 overdratts TKuiJ¥ ￿￿￿1t￿T5 Otlier IBxation llnd soclol 8Kurlty O(li¢r ¢reditors A¢¢ruals and deferred Incoin¢ 608 2,936 49,B68 69 17,020 J3,699 7,973 50 J9,Q51 70,301 8Q,773 2023 2022 DcfLrrcd inc(kiiic at l April 2022 R¢8our¢¢s d#f¢rr¢d diiring the y¢ur Amounts re1c￿ed tiDitt prcviovs periods 41,600 10,000 141,6001 J7,503 41.LS00 (57,503) ia,000 41,600 D¢fwred in¢n Lliurgc5 IOaln$ylo$ses on investments Dividei)ds. intercst5 rciils from inve8tments tk'erea$LI(in¢r¢a%c) iii dLhtorq Iiicreab¢lldecr¢usel in credltors 7,888 35,550 16,038) 23.227 110,880) 7, 744 (1,180) {6,941) (1.482) 5,626 Net CA8h provlded byl{ty1od In} opor¥tlni 8ellvltles 62,343 (8,691) 22. ANRly&is of cash co8h Equivalents 2023 2022 Cash in hNnd CR%h investmcnts Ov¢rdrnft fa¢llity repayabl¢ on demand 221,257 11678 (6081 149,232 JJ.566 Toknl ￿sh cash e4ulvlllonts 233.327 160, 798 Pag6 37 Ag¢ UK Bexley (A company Ilmltsd by guarantee) Plote5 to the f5nuncl￿I Jtstsments For tlie year ended 31 March 2023 23. AnRlysls of ctL8ngw in not debt At l Aprll 2022 At 31 Marth 2023 CABh flow& CRsh &t bank pnd in hHnd B&nk overdrat73 repayable on deinand Liquid invc5tinettts 149,232 72,025 1608) 221,257 (6081 12,678 11,566 160,798 72.329 233,327 24. C(tThtlnR¢iIt Ilabllltl¢8 Th¢ (.'hariiy wd% informeil Juhe 2018 Iliul its lolldloTd would be cxpecliii& paymeni of rents on Its 1¢8s¢d pi'operry buckdAt¢d io 2014, The ch￿IlY hud lii.¥L()ric writleii yiid verbal evideiiL# indic4tinB Ihut auy wils p¢naii)iiig to its uwupatlon of tliis pivp¢rty would be dcducted and cross charged at source. A new weejnent was ojitered Into fmm 2018 until july 2020 when tho Ch¢rity v8¢ol¢d lh¢ prop¢rty Ajid mov¢d iiito new offL¢¢S. Tho ti%r¢oiiiciit Hiid cor1￿$poli[1Oncc wlth thc lJndlord s¢at.d rctii would b¢ dedi1¢t￿ at s￿￿¢¢ but Was never tsk¢ii and the landl()I'd lia% n()I r¢wi)ndLd io dje (".h4rity'% %()lieltor.¥ Lvrrosponil¥n¢w w)d ¢li)s¥d th¢ base. Hllvin8 considrred thc Chuity's obli¥a¢lons, probability of a setttcment and reliobillty ot'¢olculE¢tloii of a Ilabllity, the Charity ha5 con¢ludL.d thL'SQ Li'ilci'ia Lan 111)t b¢ 8ul]ILiciiily Incl, wid Iwvb Iitht provided for lln}' li&l)iliiy. Ai Ihl liine of 81gniiig th¢ fiEiftnci&l s¢at¢JneJil¥. the Churity ¥oiiiiiiu¢s lo ¥tiriisp0i￿ wltji th¥ luiirjlord li) an Jtteiiipt to rc501v¢ tli¢ di5PUt¢. 25. P¢n81on eommltmonts Th¢ L',hArlty op¢rates H defiiied contrlbutlon ponslon scheme. The as8els ofthe s¢heine llfe h¢ld 8¢parat¢ly from ihose of the group irt ali iiid#p¥ii(l¢iiily adniiiiist¢red fuTLd. Contribulions tolalliiig £Nil12022.. £NIII were payable lo the fund ot lh¢ b&lanc£ sh¢et datc lliid ar¢ iijcluded in oth¢r Lr¢dilors. The Charity is a membar of u multi-employer schemc, Hs dttt&ilcd in accollntlng poliry 2,11, A full actuarial v&lu&lion rt)r th¢ sch¢m¢ was out ai 30 S¢pt¢mb¢r 2020. Tlii5 valua¢ioJi %liowcd ￿8t¢s of £800.3m, liabilitie$ 01. £831.9m ond o d¢fi¢it of £31.6m. To ¢limiD81¢ this funding shortfall. th¢ Tru51cc h&8 gskcd thc partlcipating employery to puy 4dditionr¢l contributiu￿ to the s¢lwine ￿ folluws.. Dofi¢it contributions: Fiom l Api'il 2022 to 31 YHnuary 2025.. £3,312,000 pcr annujn Unl¢s8 a ¢onc¢ssiort h&8 been agreed with the Trustee, the term trj 31 Janufiry 2025 opplies. The 5chcmc'5 pKvious valuation was c4rried out with effective date of 30 September 2017. This valuation sbowed ass¢ts vf £794.9m, liabllitlES of £926.4m tjnd & deficit of £131.5m. To eliminaic this fiinding shortfuil, Ui¢ Trust¢¢ has ￿k¢￿ th¢ participating employcrs to pay addition￿ contribulions to thc $ch¢Jnc as follows.. Doficit ¢ontribution3: From l Apri￿ 2019 to 30 September 2025.. £11,243,000 Th¢ r¢¢ov¢ry plan ¢ontribution5 ar¢ nllD¢at¢d to ¢aGh participating ¢tnploy¢r in line with ihcir estimated share of tbe 8erie8 l and S¢ri¢8 2 s¢b¢m¢ liabiliti¢s. Page 38 Age UK Bexley (A eompAny limlted by gu#rhntee} Trlotes to the financial statements For the y¢4r ¢nded 31 March 2023 25. Ponglon tommltm¢nts {eontlnu¢dl Where the scheme Is In deficit and where the Charlty has agreed to & deficlt fviidhig arrang¢mertt the Ch￿lty would r¢¢ogrtls¢ liabllity for th¢ obliK&tion. TILC tmivunt r¢wgnhs¢d would ￿ th¢ J)¢t prtsent value of th¢ dBfibLt reduction contributlons payable uiider the agrtem¢nt thllt relatcs to the deficit. 'I'ht pr¢5¢llt y￿U¢ would b¢ c&loiLlt)tcd uslng thc discount illt6 of 5.52UA12U22,. 2.35¥), The unwlndin8 of the discount ratc woiild bc recogiiised as a tiii&nc¢ cost. Th¢ Charily'B th8rc of tbe obll8atioo und6rth¢ rxov¢ry pl￿] irf¢rred to above a3 &t 31 March 2023 been valued at£25512022., £400). 26. Oper*tlng1oA$t ¢ommltmtntJ At 31 Mw¢h 2023 th¢ Charity had ¢ommltm¢nts to make tbture minimum leas¢ payments under non.¢an¢¢llable operating leoses fjs follow$'. 2023 2022 Not latcr than l year L4t¢i' Il)Rii l y¢41' Jiid Jjol lat¢r S y¢Ar8 13,661 12,960 J5,365 16,621 26,621 4J,980 27. Members, IIAblllty F,ach m¢niber ol'the ch81'1tuble compnny iiiidertpkes to cantributc to tlie J.E8ets of the conipuny in the event of it beinR wound up whil¢ heJ¥li¥ 1% li Inwmb¢r, ()I' wit.hin ()ne Ytt￿r Hfter helyhc c¢%%o% lo iYi¢inbcr,.%ULlI Mmount yy iiiky be rwuired, ni>1 exL'ee(ling £1 for debts w)d Ilabilities contrttcted bcfllre htl%hE ttasts to bc a rncmber. Pagt 39 Reference and administrative details Trustees G. Powell, Chair (until November 2022) A. Pang, Chair (from November 2022) L. Cashin M. Hamilton S. Holmes, Treasurer M. Holkham (resigned November 2022) B. Kozlowicz (appointed November 2022) T. Ma￿V T. Shah L. Weymouth (appointed November 2022) Chlef executlve offi￿r L. Gillians (interim until 16 May 2022) A. Baker (appoinbj 16 May 2022) Senior manager A. Bygrave, Care Services Managerloperats'ons Manager Independent auditors UHY Kent LLP tya UHY Hacker Young Chartered Accountants Statutory Auditors Thames House Roman Square Slttingboume Kent MEIO 4BJ President Mayor of Bexley Company reglstered number 04244876 Bankers Barclays Bank plc 6 Market Place Bexleyheath Kent DA6 7DY Charity reglstered number 1088399 Registered office Belvedere Community Centre Mitchel Close Belvede Kent DA17 6AA Company secretary A. Nwafor {resigned 25 April 2022) A. Baker (appointed 16 May 2022) 4D