Bexley ageuK Age UK Bexley (A company limited by guarantee) Trustees, Report and Financial Statements For the year ended 31 March 2024 Registered number: 04244876 Charity number: 1088399
Contents Message from our Chair What we do Objectives Achievements Future plans 11 Financial review 12 Principal risks and uncertainties 13 Policies 14 Structure, governance and management 15 Trustees, responsibilities 16 Independent examinerfs report 17 ststement of financial activities 18 Balance sheet 19 ststement of cashflows 20 Notes to the financial ststements 21 Reference and administrative details 38
Message from our Chair Welcome to the Age UK Bexley Annual Report 2023124. As we reflect on the past year, I am proud to share the significant strides we have made in our mission to seNe our community. This peri(Kl has been marked by both exciting developments and important transitions. Over the year, we were delighted to have introduced new services: the Handyperson Servi and the Belvedere Day Centre (Activity Day). These initiatives have already begun to make a positive impact, and we look forward to their continued success. During this year, we also experienced changes within our Board. We bid farewell to Tamatha Macey, whose contributions over the past 3 years have been invaluable. We extend our heartfelt thanks to Tamatha for her dedication and service. At the same time, we welcomed two new members, Alan Johnson and Carole Pellicci, whose expertise and enthusiasm are already proving to great assets to our team. In April 2023, we held a consultation day that brought together diverse Vol from our community. The insights gained from this event were instrumental in drafting our new 3-year Strategic Plan. This plan will guide our efforts and ensure that we continue to meet the evolving needs of those we seNe. Thank you for your ongoing sUPPOrt and commitment. TJether, we are making a dIffen. Aaron Pang Chair A big thank you to all our supporters We would like to say a really big'thank you" to everyone who has supported us with grants and donations this year, including: The London Borough of Bexley, the City Brldge Trust, the Mercers Charitable Foundation, London Catalyst, Sktpton Building Society, the London City rPort Community Fund, the National Lottery Community Fund, the Sir Jules Thorn Trust, the National Grid, PKM)St Charitable Trust, the Asda Foundation, Sky UK the WG Edwads Charitable Foundation, TCE Ltd, the Masonic Charitsble Foundation, the University of Greenwith, the Rotary Club of Sidcup, Cray Valley Lodge, the Erith Rotary Club, Braidwood Lodge, the Provinoal Grand Lodge of West Kent, and Alliance Medical. We would also like to particularly thank all the individuals who have made donations (too many to list here) Without you we wouldn't be here, and we really appreciate your SUPrt.
What we do Reduce social", isolation and loneliness Who we are Age UK Bexley is an independent local charity. We've been working in the local community to help older people for 30 years. We have 32 dedicated staff and over 100 volunteers helping us to deliver Servi and attivities for older people in Bexley. Our Mission and Values Improve self- confidence and independence For all older people Ilmng in Bexley, Age UK Bexley aims to: Reduce social isolation and loneliness Improve self-confidentr and independen Improve health and wellbeing Prevent and relieve poverty Ensure they can thrive and enjoy later life As a charity working 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 *rvices and activities inclusive, safe spaces for those from minority ethnic backgrounds, people who identify as LGBTQIA+, people living with disabilities, and refugees. Improve health and wellbeing Thank you What we do is only possble thanks to the supwrt we retrive from our community - individual supwrters, local organisations and businesses and those who dedicate their time to volunteer with us. Prevent and relieve poverty Ensure they can thrive and enjoy later life Chair-based exerdses at our Befriending Cafe
Our Aims and Objectives The Objects of our Charity are: Preventing or relieving the poverty of older people. Advancing education; Preventing or relieving sickness, disease or suffering in older people (whether emotional, menta5 or physlcal); Promoting equality and diversity; Promoting the human rights of older peDple in accordan with the Universal Dedaration of Human Rights; Assisting older Feople in need by reason of ill-health, scrial eJdusion or other disadvantsge Between April and October 2023, we consulted widely with our service users, staff and volunteers to set our Prborities for the Next 3 Years: Meeting Changing needs- including, but not limited to.. the rising Inaden of dementia and other long term health conditions, the cost of living crisis, the digital divide, transport, and where demand for our services exceeds capacity, Aim for excellence in services - ask for feedback from our dients and act on this to improve our services; apply for the CQS quality mark. Raising awareness of Age UK Bexley - promote our organisationlservices to people who need us (including people from ethnic minorities who are under-represented amongst our current dients) and to partners who might refer people; attract funding and donations. Tackling isolation and lonelin5- induding expanding our Befriending Cafes and xKial groups and our One to One Befriending Servi, Enabling objectives: Volunteering - promotion of volunteering opky)rtunities and recruitment of more volUntrs. L¥1 Easter hat raile at our Wellin Befriendin Publlc benefit In setting objectives and planning for activities, the Trustees have given due congderation to general guidan published by the Charity Commission relating to public benefi¢ induding the gUIdan'PulliC benefit: running a tharity (PB2}'.
Our Aims and Objectives (continued) Main actlvities undertaken to further the charity's purposes for the public benefit Men in Sheds- providing small engineering and socially entrepreneurial activitie5 for older men. In order to deliver public benefit in line with these aims, Age UK Bexley provides the following servi. Community Development programme - building SUPPOrt and community-based resources including Beftiending Cafes and Fitness Groups that to encourage social connecknvity and g(K)d physical and mentsl health. Information and Signposting - our Infomiation Gateway service offers a point of entry into the Servi in addition to supporting local need for information and support in later life. Welfare Benefits AdVI- undertaking benefit checks and assisting with completing 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 their homes, our in-hou* serviw and other community settings. Befriending - visiting seNices prowded by volunteers reduang social isolation and loneliness for older people. Pathways Project (Adult Social Care) - as part of our consortium partnership with One Bexley we undertake care act assessments and reviews on behalf of the Lx)rough's Adult Soual ca service. Day Centres - including Dementia Support Service5, Nursing Day Care, Stsndard Day Care, Respite Services. Handyperson service- providing support with simple DIY and repairs in clients, homes to enable them to maintain their independence. Nail Cutting Service - providing basic fcKIt care to people of 50 years and aLK)ve, including those with diabetes. Representation and Influencing - representing the interests of older people in the borough with decision-makers and other organisations. Age UK Bexley volunteers receiving their Thank You certlficates during Volunteers. Week
Achievements Our achievements are set out in our annual report each year. Recent achievements of which we are particularly proud, include the following: Our Inforniation Gateway service h1 a totsl of 6737 contacts with clients (an increase of 220/0 ccxnpared to last year). AttendanS at our weekly Cycling aub during 2023124 project ' increased by 520/0. Our Welfare Benefit Advice service raised additional income of £1,728,778 for local resident& 890/0 of our Befriending Cafe clients said their sense of wellbeing had improved. new wee Our Danson W?Iking Group saw a increase in.. attendances of ' 540/0 compare(I tD last OneH dien¢ couldn t for 980/0 of those suryeyed from our Information Gateway service stated that their original question was answ1 in full. We were su¢¢eful in obtsirdrvjfbe Age .was so tts the first tacy,. our.WeWaft Benefits Advia Service. 860/0 of our Befriending Cafe clients said it had helped to maintsin their independence. , - We opened a new Befriending A Cafe in .TharnesrYlead. When asked what Attendances at our Men in Sheds proiett during 2023124 increased Bexley ageuK
Achievements (continued) Befriending Cafe5 Durlng 2023124 membership of our Befriending Cafes has continued to grow and we thanks to funding from the Mercer's Company and others, we were able to open another new Café in Thamesmead in January 2024, in partnership with Peat(*Jy Housing Asgxiation. authority tr) request offline access to council services for older people who need it. Several of our Café members have been involved with this and have formed a campaign group that mts regularly. The total number of attendan at our Befriending Over the past year we have been able to offer a total of Cafes has increased by 46% to 6,662 (compared to 492 sessions (compared to 360 the previous year, an 4,566 the previous year). increase of 37%). We carried out an evaluation of the Cafes and asked all attendees to complete an anonymous questionnaire. As well as our regular activities at the Cafes (Games, Quizzes, Bingo, Speakers, etc) we have been able to provide a number of parties for our members this year (for Silver Sunday in October 2023, for the King's Coronation, at Christmas and also at Easter). RespN)nses are sUmmarisl below. We have also worked with Age UK London on their "Mind the Digital Gap" campaign, lobbwng the Iixal 890/0 said their sense of wellbeing had improved 78 % said their Confiden had improved 86 % said it had hel to maintsin their independen isolated Easter hat Parade 97 % rated the servi5 as -good" or "excellent- lonely Attendance In totsl, 268 people attended the Cafes between April 2023 and March 2024. There were a total of 492 sessions, and 6.662 attendances. Attendees, ethnic groups were recorded as follows: White British 82 % . White European: 2%; Asian: 5%; Black British: 6 % . Mixedlother: 2%: Unthown: 3%. Gender: Female: 73%. Male.. 27%.
Achievements (continued) Befriendlng Cafes (continued) Comments about the Cafes.. "The stsff are very hdpful and lovely also fiiendly and polite" "I think the volunteers do a marvelous job- "The Servi has saved me I love coming" Comments about why clients attend the Cafés: 'To make friends" "I was isolated" 'I felt lonely" "I live on my own" "For help with my memory" "For help with my smart phone" "To learn about computers" "To keep busy" Thames Befiiending Caf¢': 4, Men in Sheds organised by the Southeast London Integrated Care Men in Sheds Bexley is a community group for men over 50 to come together, make things and most importantly have fun! We are based in the grounds of Christ Church Erith, just behind the church hall. Men in Sheds is a service run by Age UK Bexley. In November, Men in Sheds was nominated for a "Healthy Communities" Interfaith award for their partnership working with Christ Church Erith. The Shed Manager attended the evening to accept the Shed's nomination certificate. 5 off-site s(laIS were delivered for the members over the course of 2023124, including day trips to the Sky Garden, V&A Childhood Museum and a trip on the London Riverboat. AttendanS during 2023124 increased by 42 % from 1,322 the previous year to 1,871. 240 sessions were delivered and 45 clients attended in total. We have rtow had to start a waiting list for the project. We are grateful to the City Bridge Trust for previous funding for the Shed and to the National Lottery Community Fund for granting us another 5 years, funding from October 2023. 2023124 Achievements: Men in Sheds reached an additional 89 people 2023124 through their outreach workshop sessions. Members delivered 2 sessions for local residents at The Exchange, 2 sessions for Lime Wood Primary School's Reception classes and a session at the Belvedere Community Centre. Men in Shed5 also welcomed a tslk by Bexley dinical leads, Dr Kwan and Dr Moir to talk aLx)ut prostate cancer and diabete5 in November. Held in our wocKI workshop, the session wa5 WPJI attended, and members really engaged with the talk. The members were given an opportunity to ask questions throughout the session, which encouraged peer support and discussion afterwards. The talk was me bers with sculpture for Lime 00(1 Primary Sch
Achievements (continued) Fitness Activities Cycling Club Fitnwve Our Cycling Club continues to be popular with members, Our tr0ve class ran almost every wk during delivering 36 sessions over the course of the year with 2023124 led by a qualified physiotherapist who carries a totsl of 199 attendances (an increase of 52 % on out an assessment of each person when they join. 38 last year). During mid-December 2023 to mid-march sessions were delivered at the Belvedere Community 2024, the rides paused for winter. Centre, with a total of 423 attendances (37 clients, a 320/0 increase on last year). In September the group took their bikes over to the Olympic Park in Stratford and rode up to Walthamstow marshes, cycling through Hackney and along the river Lea on the way. rai Chi The Cycling Club also had a Christmas rtde and lunch at The Morgan Pub attended by 10 riders and volunteers. A hot pub lunch was very welcome after a ride on a snowy day. Our weekly Tai Chi dass, also held at the Belvedere Community Centre provided 41 sessions this year, with a total of 262 attendances (16 clients). The Cycling Club ran 3 peer-led Maintenan lOn5 at Men in Sheds across the year. The Club have a selection of specialist tools, a cleaning kit and a bike stsnd to enable them to repair and maintain their bikes. Art Group We also started a weekjy Art Group during this year at Belvedere Community Centre. The group has proved popular with artists and Winners alike, providing an opportunity for people to improve their skills, relax and make new friends tox). Walking Groups The Danson Park walknng group has been active weeY throughout 2023124 including during the winter months. In total 18 people benefited over the past year. 36 Over the course of the year the group delivered 50 sessions were held with a total of 356 walks with a total of 817 attendances (50 clients). attendan5. This was an increase in attendances of 540/0 compared to last year. clin v.
Achievements (continued) Day Care Volunteering Our Day Centres have Ien very much in demand this year and we still have a waiting list for all our Day Opportunities. Our volunteers continue to be absolutely essential to the delivery of our servIs. Volunteering roles within the charity are varied and there is something for everyone, from helping out at one of our Cafes, to visting an isolated older person at home, to providing information via our telephone helpline, to helping someone to fill in a complicated claim form. Thanks to funding from the Age UK Cost of Living Fund we were able to open an additional Day Care Day in June 2023 at the Belvedere Community Centre which runs every Thursday and provides activities particulady aimed at stimulating cognitii)n and aid memory. Over the year, a total of 105 volunteers worked for us, 19 of whom were new in the year 2023124. Day Care is a lifeline to so many people. As well as providing an enjoyable day for the person with care needs, the Day Centres also provide a break for an unpaid Carer. Handy person Service This year (from April 2023) we re-started our Handyperson servi that had been closed during Covid. This was in response to demand from our dients who said they needed an organisation they could trust to come into the home and help with simple DIY and repair tasks. The SeN1 started slowly with the recruitment of one "Handy Person" who works for us l- 2 days per week. He is able to help with things like fitting key safes and handrails, putting up pictures and curtain rails, and installing key chains and spy holes. In 2023124, 72 clients benefrtted from the Servi and 94 jobs were carTied out. We asked Carers what impact the Day Centre has on them and received some really wonderful comments including.. "It enables me to have lunch with my husband on week" I get to do some personal shopping" "It relieves my depression- "I meet frlends and feel human again" Comments received induded: "Knowing Mum I safe, I enjoy spendlng time having lunch with friends and my husband" "We couldn't have asked for better advice and everything was so quick after the first contact" "[Handyperson] was a stsndout - was very good and knowledgeable". -Local authority- you spoke with a different person every time and couldn t get through. With Age UK Bexley we sp)ke to same people each time." e experien of fitting the rails was very good and we use them all the time." °Our experien has been go¢)J... better than 'I get my sense of self back" During the 12 months from April 2023 to March 2024, 150 people attended our Day Centres and a total of 6,477 attendances were recorded at 307 session5 (an increase of 200h on 2022123). Ethnicity of attendees at our Sidcup Day Centre was as follows: White British: 83 % . White European: loh; White Irish: 20/0 Asian: 20h; BlacklBlack British: 5%; Other: 2 % . Unknown: 5 %. Gender,. Female: 59%. Male: 41 % . Age ranges: 55-64: 3%; 65-74: 11¥0' 75- 84.. 38 % ' 85-94: 39 % . 95-104: 9%. BeIvedeAvity D I ;. Christmas Nail Cuttlng We have continued to provide our nail cutting servi during 2023124, with 2 din1 per week at Sidcup and I at Belvedere, The service has been very much in demand and much appreciated by dients with ICKI % of people who used the Servi rating it "excellent" and 910/0 of respjndents saying that thar wellbeing had improved Sin using the servi. 141 409 clients used the se1 during the year. 141 sessions were held with 1,456 attendances.
Achievements (continued) Inforniation Gateway Service During 2023124 our Information Gateway servi has continued to be a lifeline for older people in Bexley. Welfare Beneffts The cost-of-llwng crisis has hit many older people hard and during this year we have had another huge increase in the numbers of people contscting us for advi about maximising their income. We had to close our waiting list for part of the year as we had so many people waiting. During this time, clients were signposted to other organisations in the borough who could help them. During the year, 1,645 people contscted us for Information (compared to 1,509 last year) and we had a totsl of 6,737 contacts with those dients (compared to 5,542 last year), an increase of 220/0. Our satisfaction rates remain high with over 980/0 of those surveyed stating that at the end of our work with them in the Gateway that their original question was answered in fijll (600 people seYed). Thanks to ftjnding from the National Lottery Cost of Living Fund and donations from clients, we were able to tske on an additional part-time Benefits Advisor who helped us to reduce the waiting list and we We able to reopen to new referrals again in the autumn of 2023 Pathways Project Our Pathways Project is a partnership between Age UK Bexley and 7 other local charities who have come t(NJether as a consortium known as One Bexley to provide Adult During the year 2023124, we received 4,580 contacts Social Care Assessments, Reviews and Carers. Assessments from older people about welfare benefits and we provided on behalf of the local authority. Age UK Bexiey employs 3 benefits advice for 629 people. As a result, we have Full Time Trusted seSsorS in this role. raised additional income of £1,728,778 for local residents. One to one befriending During this year, we applied for and were Sucsful in obtsining the Age UK Quality Mark for our Welfare Benefits Advitr Service. The assessment pro55 was very rigorous, and we are proud to have achieved the Quality of Advi Standard. It has continued to be challenging to recruit enough volunteers to m*t the demand for our One-tO-One Befriending Se1. The Servi is quite small and aimed at people who live along and are housebound so cannot get out to our Befriending Cafes. Age UK Information & Advice Quality Assured All clients that do have a befriender are all happy with the support they are receiving, with 100% rating the Servi as either "good" or'excellent,: Over the year 17 clients benefited from the service and 14 people volunteered for us in total. Age ta Info eve K Bexley PUK ley and One rerfs inforni ation in io
Future Plans Independence Day Care £ Befriending Cafes Older People a) Fitness I Carers Self-confidence Diversity Bexley ageuK Wellbeing Men in Sheds Reduce social isolation E Disabilities Dementia Support Nail Care Clinic Inclusive We conslder the following to be key future plans for the charlty for 2024125: Develop our Day Care at Home Servi to provide a sitting service in clients, own homes and to help with cleaning, shopping and getknng people out and about. Look into how we can improve transpjrt options/provide better and more reliable transp)rt for people who want to access our day ntre and community cafes. Apply for funding to expand the Welfare Benefits Advi servi, possibly to include debt and housing advice as well as benefits, and to older tEople, and reduce the likelihood of falls as well as social isolation. Cary out evaluations of all our services to ensure they are meeting our strategic aims and objectives. Continue to ensure compliance with the CQS (Charities Quality Stsndard) quality mark, the Age UK Quality of Information and Signposting and Quality of Advice Standards. Apply for the Age UK Footcare Quality Standard when it is finalised. Employ a Fund-raiser to ensure sustainability for Eè increase our capacity to suppx)rt people through the cost-of-living crisis. Restructure our staff team to ensure best use of staff time and continuity for the future Create an additional 50 Day Centre pla per week to reduce the waiting list for Day Care. Digitsl Divide,, continue to work with Age UK National in their Mind the Digital Gap campaign and with Bexley Council with the aim of maknng more council serviceslbenefits accessible to people who do not have access to the intemet. Work with the Frognal Local Area NeOrk to develop and deliver a project to improve fitness in the future and to raise the profile of the charity l¢xally. Set up an "Information point" at another location in the borough to ensure we are more acssible to clients who do not live in the Belvedere area Explore the option of opening another Befriending Café in Slade Green. Hold an event to celebrate the Intemational Day of Older People in Ottober. Explore the possibility of another Men's Group (tyjssibly in the South of the Borough/Frognal area, and possibly linked to fitness?) to relieve pressure on the Men in Sheds waiting list.
Financial review Overview of the year The Charity received total income of £925,012 in the year, (2023 £737,520) with expenditure of £830,918 (2023 £689,374), resulting in a budgeted surplus of £134,561 (2023 £12, 956) when taknng into account gains on investments of £40,467 (20231oss of £35,550). There were £628,437 of unrestricted (undesignated) Within the ovetBII surplus, there was a £4,449 deficit general reserves at the year end, of which £60,119 related to restritted funds as a sUIt of restritted related to fixed assets and £358,917 related to fixed income received in prior years being spent in accordance asset investments. The fr reserves for general with the terms of the grants (2023 defiat on restricted pUr[S is £209,401. This is lower than the three funds of £9,709). months reserves the charity aims to hold, however Trustees recLYJnise that the investment portFolio could be Overall income has increased by £187,492, as a resu of liquidated should this be required. an increase in income from existing Servi as well as new serVIS being developd, induding additiona5 Day Care provision, a Handy Person servi and a Hospital Discharge Servi. A ftjrther £24,411 was designated in the prior year to cover the costs of disputed rent payment from a premous property. Financial govemance regarding the management of nds identifies a minimum of three months operating costs should be retsined to cover all eventualities in the event of closure and redundancy. Trustees are obliged under section 6, 2.5 of the current financial procedure5 to cary out an annual risk assessment including the calculation of all known liabilities, consideration of any acbon necessary to redu risk, and the appropriateness of current reserve5 levels to cover those three months should they be required. Expenditure increased by only £141,544 compared to the prior year financial statements (ie less than the income) including an Increa in siaff costs of £128,946. Our funds At 31 March 2024 funds totalled £703,603 of which £755 relates to restricted funds not available for general purposes and £74,411 relates to designated funds, as detsiled in note 20. Going concern After making appropriate enquiries, alongside reviewing budgets and cash flow forecasts, the Trustees have a reasonable expectation that the company has adequate reSoUrS to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concem basis in preparing the financial statements. Further details regarding the adoption of the going cOnM basis can be found in the Accounting Poliaes. £50,000 of unrestricted funds have been designated as a staff contingency ftjnd. This has been set aside to cover the need to pay staff redundancies in the event that the charity had to close in the ftjture. There is no expectation at this point that it will need to. ¥. 111 12
ae UK lxlcy l TrstEe5. RepDrt Financial 51atenicnls | 31 lar(h 2D24 Risks and uncertainties Risks and uncertainties currently facing the tharity are noted in the tsble below. Mitigations and risk management were fully reassessed as part of the charity's Business Continuity Planning in June 2023. The risk register was refreshed and UF¥Jated and reviewed again in July 2023. Contingencies for Inlon control, resour redeployment and finanaal resilien were all put in pla to assure our ability to maintain NIce delivery wlthin controlled operational environments and a secure finanaal fcoting. Risks Mitigation Reliance on eamedincome from Day Care andother services. There is a risk of loss of revenue due to forced dosure of our Day Care Centre and other rvices in the event The charity is aiming to diversify its Sour of funding of another Pandemic. However, Day care is very much In order to redu relian on one Sour of income. In demand, particularly for clients with dementia, as other day care services In the tK)rough, most of whlth Marketing and communications are also being updated with Increased reach and better promotion of rvices are situated in residential and nursing care homes, have and support. not yet re-opened following Covld-19. The charity is quite dependent on grant fvnding for some of its core servIs. Most grants are short-temi (2-5 years at most) and ftjrther funding has to be applied for elwhere when the grants come to an end. The tharity plans to Introdu tnore social enterprise projects over the next few years In order to diversify Its income base. Rising Cost of Liwng The Charity intends to apply for funding to Increase capacity to support people with income maximisation and applying for grants to help with utilitie5. The rlsing cost of liwng and increase in costs, in particular energy bills, present a risk to the charity for the coming year both in terms of our own mst pressures, and also in terms of loss of revenue from dients who may not be able to afft)rd to pay ft)r ServIS and support. Our involvement in the Pathways projett (delivering Adult ScKial Care Assessments on behalf of the local authority) means that we are well placed to identify dients who would be entitled to receive financial support from the local authority, for example to access our day servi, and to advise them accordingly. Unresolvedrent and leasing arrangements I. ., Additional cost pressures potentially resulting from unresolved rent and leasing arrangements with the borough. The charity is working wlth the t)orough to resolve thls issue and dixussions are on-going. 13
ioe UK 8exley l Trusiees'Retort and Financial st3tentS | 31 lar(h 20?.4 Policies Fundraising Equality. Diverslty and Inclusion The charity remains mindful of its obligations under the Fundraising Code of Practice, with an undertakj'ng to ensure the following: Age UK Bexley encourages and values diversity. We are committed to providing equality for all stsff, volunteers, dients, and partners and we provided training on Diversity, Equity and Inclusion for staff and volunteers in March 2024 GDPR obligations have been applied at all times, and that the charity at no time has made unsolicited approaches unless express pemission has been granted. We actively support diversity and inclusion and ensure that all our staff, volunt&rs and clients are valued and treated with dignity and respErt. We want to encourage everyone to reach their potential. Whilst the charity has not registered for any voluntary fundraising regulatory scheme it ha5 adopted the core fundraising prinaples set out by We welcome our legal duty not to discriminate because the Fundraising Regulator in its Fundraising Cc*Je of the Equality Act 2010 protected characteristics of age, of Practice. disability, gender reassgnment, marriage and civil partnership, pregnancy and maternity, Ta (including colour, nationality, and ethnic or national origin), religion or belief, sex (gender) and sexual orientation. It has not used the services of an extemal agency to support our fundraising activities but were it to do so would require adheren to the same national standards and/or registration with a reccgnised scheme. Investments The Trustees have an obligation to secure the best Monitoring of our fijndraising acknvity during the financial return (within the appropriate level of risk) to year has not identified any prattices that could be spent on the tharity's aims. Consequently, the deemed as failing to meet those same national Trustees are seeking long-term growth of capital and standards. However, further review as part of the income over time as their investment objecknve. Fundraising Action Plan will fomi part of our developing strategy for income development in the future. We aim to spread our funds across a number of low and medium risk investments and are committed to investing in a restM)nsible and ethical manner. There were no complaints in relation to our fundraising activities during the year. Due to the restritted nature of our fundraising activity, we have been careful both to res permission limitations central to our information governan and therefore only contscted those who have expressly said they are happy for us to do so. Our digital fundraising al applies our inft)rmation governan and GDPR prccedures 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 SUPFKJrt to the charity in the delivery and funding of its work. king Group taking a break after a walk around Hall Place Safeguarding Safeguarding adults at risk is at the heart of all we do. We have a dedicated stsff member as Safeguarding Lead who has 28 years, experien in this field. She undertakes regular Safeguarding training herself and is a qualified Safeguarding Trainer, enabling her tr) njn in- house training for our own staff and volunteers as well as for other local organisations on request. 14
Structure, governance and management Constltution responsibility for the provision of the seN15 to the Chief Executive who manages the operations of the charity, supeNises the senior management team, and ensures that the team continue to develop their skills and working prdctices. The organisation is a charitsble company limited by guarantee, incorporated on 2 July 2001, and registered as a charity. The company was established under a Memorandum of Association, which defined the objects and powers of the charitable company. It is govemed under its Articles of AciatiOn. 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 charity, elected by members at the Annual Generdl mting. Method of appointment or election of Trustees Eight persons elected by members at the Annual General mting. The appointment prc£ess is a robust prccess prinapally defined by the business, knowledge, and development needs of the organisation. Advertisements are placed through a range of online and social media in addition Ic1 business and community networks across the borough. Persons co-opted until the conclusion of the Annual General Mting 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 skills gaps occur, advertisements are targeted to ensure these are filled and the balan of skn115, knowledge and expertise is maintained. Initial enquiries and applications must be made via the Chief Executtve, with trustees being involved in the selecknon and appointment of successful candidates with suptK)rt from the Senior Management team where appropriate. A. Pang (Chair) L. Cashin M. Hamilton S. Holmes (freasurer) Policies adopted for the induction and training of A. Johnson (appointed May 2023) Trustees B. Kozlowicz The Board of Trustees ensures that the composition and the breadth of experience of its members are sufficient for it to discharge its respK)nsibilities. To these ends, the Board regularfy reviews its composition and where necessary identifies new options for membership and skills. The charity has a trustee induction and training pack. T. Macey (resigned June 2023) C. Pellicci (appointed January 2024) T. Shah L. Weymouth During the year the Trustees have been encouraged to keep up to date with wider settor knowledge and relevant Charity Commission guidantr. Relationship with other charities Age UK: As a IcKal Age UK, Age UK Bexley works alongside Age UK National as a Brand Partner. Each Brand Partner is an independent organisation, a charity The Trustees, based on local market assessment, CPI in its own right, but works closely with Age UK National and receives suptK)rt from the national organisation in and performance outturn, agree rates of pay for all staff terms of poliLy and keeping up to date with issues that Including those in nior positions and sign off all staff salary increases. affett older people. We also receive funding from Age UK National for several of our services. Pay policy for senior staff Organlsational strurture and decision-making One Bexley: Age UK Bexley is part of One Bexley: a group of 8 Ic(al organisations who have come together with the aim of improving services for Bexley residents. We are currendy working together on a project known as "Pathways", a contratt with the local authority to undertake Adult ScKial Care Asssments and reviews for kEople with care and support needs, as well as carS Assessments. In accordan with the company's Articles of Association, the company has a Board of Trustees. The members of the Board are the company's directors for the purposes of company law and are the trustees of the charity for the purpo*s of charity law. The Board of Trustees is re5pon5ible for the overall management and control of the charity. The Board of Trustees meets a minimum of 4 times a year. The Board of Trustees delegate the day-trday
'.Je UK 8eAley l Tru£iees' RetNJrtand Financial sialenients131 Tr1aiih 2024 Trustees, responsibilities Statement of Trustees, responsibilities in the United ngdoM goveming the preparation and dissemination of financial statements may differ from The Trustees (who are also the directors of the company legislation in other jurisdictions. for the purpos of cornpany law) are responsible for preparing the Trustees, report and the financial statements in accordan with applicable law and United Kingdom Accounting Standards (United tfjngdom Generally Accepted Accounting PractiTr). Disclosure of information to auditors Ead) of the persons who are Trustees at the time when this Trustees, report is approved has confimied that.. Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and frdir view of the state of affairs of the company and of its incoming reSoUrS and application of reSoUrs, including its income and expenditure, for that peri(KJ. so far as that Trustee 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 to have bn tsken as a Trustee in order to be aware of any relevant audit information and to establish that the d)aritys auditors are aware of that information. In preparing these financial statements, the Trustees are The Tnjstees confirm that they have had regard to the required to: Charity Commission's guidance on public benefit in reporting on the Charity's objectFves and achievements on pages 3 - 10. - select suitable accounting poliaes and then apply them consistently. observe the methods and principles in the Charities SORP as revised in 2019. The reference and administrative detsils on page 38 form part of the Trustees, RerK)rt. - make judgments and accounting estimates that are reasonable and prudent, Independent ExamineTS The independent examiners, UHY Kent LLP, have indicated their willingness to continue in offi. The designated Trustees will propose a motion reappointing the independent examiners at a meeting of the Trustees. state whether applicable UK Accounting Standards have been followed, subjett to any material departures dlsclosed and explained in the financial statements; and prepare the financial ststements on the going concem basis unless it is inappropriate to presume that the Charity will continue in operation. Small companies exemption This report has been prepared in accordan with the special provisions for small companies under Part 15 of the Companies Act 2006. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and dI105e with Approved by order of the members of the board of reasonable accuraLry at any time the financial position of Trustees and signed on their behalf by: the company and enable them to ensure that the financial statements comply with the Companies Att 2006. They are also sK)nsIble for safeguarding the assets of the company and hen for taking reasonable steps for the prevention and detection of fraud and other irregularities. Mr Aaron Pang, Chair The Trusts are responsible for the maintenance and integrity of the charitsble company s website. Legislation Ms. Siobhan Holmes, Treasurer I E 16
Age UK BleY (A company limited by guarantee) Independent Examiner's Report For the year ended 31 March 2024 IDd¢pendent Kxaminer's RepDrt to the Trwtees of Age tIK Bedey ('the Charity,) I report to the cbarity trustees on my examination of the accounts of tbc ChaTity for the year ended 31 March 2024. RponSibIlItIeS and Basis of RepDrt As th¢ tyustees of th¢ Charity (and its directors for the putposes of compaThy law) you r¢sponsibl¢ for the preparation of the accounts iu wordHllre with the requirements of th¢ CompaThiw Act 2006 Cthe 2006 ACV). Having satisfied myself that the accounts of the Clwity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examinatio I report in respect of t]ry examination of the Clwity's accounts carried out under section 145 of the Charities AGt 2011 (tth¢ 2011 knt). In caluS Out my Cxamination I have followed the DItionS given by th¢ C]wity Con]mission under section 145(5)(b) of the 2011 Act. Independeiit Examlner's Statement Since the Charitys gross income exceeded £250.000 your examiner must be a member of a boty listed in section 145 of the 2011 Act. I coofimi that I aoj qualified to und¢rt8ke lkn ¢xaTninatson because I am a member of IDstitut¢ of Cbart¢r¢d Aunt90t5 in En8land and Wales, whi¢h is one ofthe listed bodi&8. I have completed my cxarninatio I confirnl that no matters have come to my attention in connection with the examination giving me cause to believe,. Accountitig rccords were not k¢pt in respect of the Cbarity &8 required by section 386 of the 2006 AGI" or the accounts do not &ccord with those )fCOTds: or the acwunts do not comply with the accounting requirem of sectii)ll 396 of the 2006 Act other than any requirernent th&t the accounts give a Irue and fairf view which is not a matter considered as part of an independent exaMitio0 or the counts have not been prepared in OrdanGE with th¢ llL¢thods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance wtih thc FitCl RepDrtiJkg Stallilard applic&bl¢ in tbe UK and Republic of hY]and (FRS 102)]. I h&ve no concems arnd have COTlle acrnss llo other matters in connection with the examination to which attthtion should be drawn ill this report in order to ¢nable a proper understandin8 of th¢ accounts to be reached. This report is made solely to the Charitys tlwlees, as a body. in accor(Jan¢e w'ith Part 4 of th¢ Charities (Accounts and Repo) RegulatlOJA5 2008. My work has be¢n undertaken so that I migbt stole to th¢ Cbarity's trust¢es those matters I am required to state to them in an Indepetsdent &xan)Anefs report and for no otber putpose. To the fullest extent pernlitted by . I do not accept or L8siune reyponsibility to anyone other than the Charity and the Char&ty's tnLStees as a body. for my work OT for this reporL SigrLed: Dated: 24 November 2024 A]lall Hicki¢, Bsc FCA tiHY Hacker Young Chartered Awountants Tham House Roman Square Sittingbourne Kent MEIO 4BJ Page 17
Age UK B¢xley (A company limited by guarantee) Statement oi financial activities (incorporattng income and expenditure accoullt) For the year ended 31 March 2024 Unr¢strictsd funds Restricted 2024 TotAI nds 2024 Total 2024 2023 Income from: Donations and legacies Charitable activities 42,734 701.217 3,825 12,856 42.734 865,597 3,825 12,856 45.142 686,340 164.380 Other trading activities Investments 6,038 Total Ineomu 760,632 164,380 925,012 737,520 Expendilure on: Raising funds Ch4rit&bl¢ a[VItieS 3.512 636.785 3,512 827,406 2,508 686,866 190.621 Totsl expendlture 640.297 190,621 830,918 689.374 Net Incomel(eipenditurt) before net gllinsl(losses) on investments Net Eainsl{losses) on investments 120,335 40,467 {26,241} 94,094 40,467 48,146 (35,550) Net in¢omel(oxpendlture} Traosfers between funds 160.802 (21,792) (26,241) 21,792 134,561 12,596 20 Not movement iti funds 139,010 (4,449) 134.561 12,596 RÈconcilll#tlon of thnd5: 20 Total funds brought forward Net movfflient in fund5 563,838 139.010 5,204 (4.449) 569.042 134.561 556,446 12,596 Totkl funds txrried fonvard 702,848 755 703.603 569,042 Th¢ Stat¢ment of Fitwicial Activities includes all gains and losses recognIs in the year. Th¢ not¢5 on pagw 21 to 37 fornl part of th¢ flDancial statements. Page 18
Age UK Bexley (A company limiled by guarantee) Registered number: 04244876 Balance sheet As at 31 March 2024 2024 2023 Note Fixed *ssets Tangible &55ets Investhients 14 60,119 358.917 59,377 318.960 15 419.036 378,337 CuFrent assets Debtors Investments Cash at bank and in halld 16 54.581 12.932 246.568 27.27] 12,678 22J,257 17 314.081 261.206 Creditors.. amounts falling due within one year 18 (29.514) (70,501) Net ¢urrent assets 284.567 190. 705 Total net assets 703.603 569,042 alarlty funds Restricted fidS 20 755 5,204 563,838 Unrestricted funds 2D 702.848 Total. funds 703.603 569, Q42 The Cbarity was entided to exemption from audit under sedion 477 of the Companies Aci 26. The members have not Tequired the compaoy lo obtain an audit for the year in question in a¢cordanc¢ with section 476 of Cornpanies Act 2006. The tnL8tces &ckrLowledge their responsibilities for complying with the requirements of the Act with re¢t to accounting records and preparation of financial statements. The fmjncial statem¢nts have been prepared in accordance vryth th¢ provisions applicable to ¢ntities subject to the sm&U cotnpantes regime. The fmancial statements were approvcd and authorised for issue by the treS 8nd signed on their behalf by,. A. Pang (Chair of TTUStees) S. Holmes (rreasurer) Dllt¢: l 8lii/£o 29 The notss on pages 21 to 37 form part of thesc financial statements. Page 19
Age UK Bexley (A company limited by guarantee) Statement of cash liows Tor the year ended 31 March 2024 2024 2023 Note Cash flows from operating actlvttles N¢t cash used itt operating activiti¢s 22 21.643 62,343 Cash flows from InveslinE aetivities Dividends, interesLs and rents from investnlents Purchase of tangible fjxed a5s¢ts Pro¢¢eds frotll sal¢ of invesfments 12,856 (8,836) 64,545 (64,035) 6,038 14 15 50,926 {46, 778) Purcllase of illvestments 15 Iyet cA&h provided by investlng Actlvitie8 4,530 10,186 Ch&nge In tash llnd casb equlvxlents En the year 26,173 72,529 Cash cash equivalents at th¢ beginning of the year 233,327 160, 798 CAsh and c2gb equivalents at the end of the year 23 259.500 233,327 The notes on pages 2110 37 forni purt of th¢se fJtHicial statements Page 20
Age UK Bexley (A company limited by guarantee) Notes to the financial statejnents For the year ended 31 March 2024 G¢Der41 iufowmatioll Age UK Bcxley, the 'Chlty, is & company limited by Euarante4 registered in England ond Wales. Its Tegislered otTice is Belv¢der¢ CommuDity Centre, Mitchell Cloge, Belvedere. KenL Ertglan(L DA17 6A Ac¢oMnting pollci 2.1 Basis of preparation of fina#ciAI ststemtnts. The financial statements have beeu prepared in accordance with the Charities SORP (FRS 11)2) - Acrountillg alld Reporling by Charities: Statement of Recommended Prncti¢e appIlble to ¢haTitie5 preparing their accounts in accordance with the FL[LCIal Reporting Stat]dard applicable in the LIK and Republic oflreland (FRS 102) (effective I Janu 2022). the Financial Reporting Standard applicable in the UK and Republic of Ir¢land IFRS 102) and the Companies Act 2006. Age UK Bexley rneets the defmition of a public bellefit entity under FRS 102. Assets and liabilities are initially recognised at bistoriG&l cost OT trat)sa¢tion valu¢ unless Otherwi stated ill th¢ r¢levant accouuting poliry. 22 Going tOllt&rn The Trustees &88ess whether the use of going concern 18 appropriate i.e. whether there are any material uncertainties related to events or conditions ttMt may cast Si8nificant doubt on th¢ ability of the ChBrity to ¢ontinu¢ as a 8Olll8 concern. The TTh]ste J)ake thi5 a53$ent in reSpt of a periJ of at lea5É olle year fro the date of auth0ri5ation foT issu¢ of the fiT)ancial statements. The Trustees are regularly reviewing the business model of the Charity with the Chief Executive Officer alongside reaching new funding agements with funding bodies. maktng their SessIn¢ll( the Trustees bave collsidered the ¢conomi¢ climate both within tbe UK and worldwide, the cost of living crisis and the Current politi¢al insfability, but still remaiu coJ]fid¢nt that th¢ Charity 15 r¢latiYely protected from being adversely affecte and substanliai lunds available to the Clwity support this. In ¢on¢lusion of th¢ above, th¢ Trnstees bavo carefidly considered whetber the Charity rem&ins to be 8 goir¥ concern fjnd hav¢ concIuded that there is sufficient evidence for them to remain a going concern. 2J fllcomt All income is recognised once the Charity has entstiement to the incom4 it is probable that the incom¢ will be reGelved and th¢ amount of iti¢ome r¢ceivable G8n b¢ measured reliably. Grauts are included in th¢ Statetll¢llt of fJDanGi81 activities on a receivable basis. The balance of income r¢¢¢iv¢d for specific purposes but not expellded during the period is shown in thc relevant funds on the BallCe sheet. Where income is received in advance of entitlement of TeceipL its recognition is deferred ond Included in creditors as deferr¢d incom¢. Wher¢ ¢ntitl¢m¢nt ocm before 1Thrne is receiv&1 the iDcome is accrued. Th¢ recogDitioD of inco¢ frotll legacie5 is dependent on esb-bITrg cntitlemenL the probability of receipt and the Ability to estimate with. sufficient accuracy the amount receivable. Eiidence of entitl¢m¢nt to a legacy exists when the Charity has sufyicient evidence that a gift has been left to than (through knowledgc of tbe existence of a valid will and the death of the b¢nefactor) and ihc ex¢cutor is satisfied that thc property in question will not be required to satisfy claims in thc estate. Receipt of a Icgacy must be recogni when it is probable that it will be r¢ceived and the fair value Df the 8Jnount receivable, which will generally be the expected ¢a5h aoUnt to b¢ distribut to th¢ Charity, can b¢ reliably m¢asured. Donated facilities are recognised when the Charity has control over the itenL any conditions associated with the donated itetn have been mel the re¢¢ipt of ¢conornic b¢n¢fit fro]n the of the compatty of the item is probable and thot ¢conoroic b¢n¢fit fan measured r¢ltably. On receipt, donated facilitie5 are rccogniscd on the basis of thc vatue of the gift to the Charity which ts the amount the company would have be¢n willing to pay to obtain services or facilities of equivalent ¢c¢)nornic benefit on tILe open marke¢ a corresponding amount is then recognised in expenditure ITh the period of receipt. Other income is recognised in the period in whi¢h it is receivabl¢ and io the extent the goods have been provlded or on completion of the servic¢. The value of services provided by volullt¢¢rs hBs not been includ¢d.iu the f¥1)¢1al ststements, otber as descrtbed in accounting policy 2.4 Expelldittre. Page 21
Age UK Bexley (A eo]np3ny limited by guarantee) Notes to the financlal statements For the year ended 31 March 2024 Accounting polieies (tontinued) 2.4 LpendIture Bxpelldtture is recogllised once there is a1¢8ai or constsurtive obligation to transts eootsoffjl¢ b¢n¢fit to a third paty. it LS probable that & trdll5fer of ¢wwnEir benefits will be required in 5dd¢mellt aThd th¢ amount of th¢ obligation rall be me&8ured reliabty. Expenditure is recognised once there 15 a legat or constrnctive oblig&tioTh to transfer economic benefit to a third party. it ts probable that & transfer of economic benefits will be required in settlement md the amount of the obligation call be ¢&sur¢d r¢liabty. Expendtture on raising funds includes all expellditure incurred by the Chatity to raÉs¢ funds for its charitable purposes and includes costs of ail fundraising activities events and non-clwitable tradin Expenditure on ebaritable activities is illvred on direcdy undertaking the actAvities whioh further the Cknitys objectives. well &8 any assooiated suppon cosL& All expenditure is in¢lusiv¢ of itrw)v¢rnbl¢ VAT. Volunteer costs include travellin& training and refreshments at meetity. 2.5 Inter¢st ree*ivAble Interest on funds h¢ld on d¢poslt is included wben rec¢ivable aryd th¢ arnouTht Gan be me&gured reliably by the Cl]arity,' this is nonnally upon notification of the illtercst paid or payable by tlke institution with whom the funds are dep051ted. 2.6 Taxmtlon The Charity is considered to pas5 the tests set out in Pardgrnpb I Schedule 6 of the Finance Act 2010 and therefore it meets th¢ defu)ition of a ¢kLaritable company for UK coryoration l&x purposes. Accordingly, the Charity is potentially exempt from taxation in r¢spect of income or capital 8ains received within categories ¢over¢d by Chapter 3 Part 11 of the Corporation Tax Act 2010 OT Section 256 of th¢ Twtion of Charg¢abl¢ G&ins AGt 1992, to the ¢xtenÈ that sucb inrom¢ or ins are &pplitd exclusivety to dwitable 2.7 Tangibl• red assets and deprecAation Tangible fix¢d assets costing £2,500 or more or¢ ¢&pitalised and r¢¢o8nised wh¢ll futur¢ 01}0M1¢ b¢fits probabl¢ 8J]d the cost OT value (rfth¢ asset can b¢ m¢asured reliably, Tangible fixed &8sets are ittitially rec(Jgttised at cosL After recogn1tio under the cost model, tangible thxed assets are nLe¥L8ured at cost less accumulated depreci8tion 8Dd accumulated impairnient lo&ses. All costs iii¢urr¢d to bring a taiigible fLxed asset into its iThtend¢d working condition should be included iti the M&vreMellt of cosL At each reporting d&t¢ th¢ Charity as5esse5 whether th¢re is any illdication of ittJpairnienL If such indication exists, the recoverable amount ot the &8set is determined to be the higher of its fair value less costs to sell and its value in use. An impairniellt loss is COgnised where the caltiE amoutit excetds the reeoverknle amounL Pa8e 22
Age UK B¢xley (A company limited by guarantee) Notes to the flnanciaI statements For the y¢2r ended 31 Mareh 2024 Aceollnting policies (continued) 2.7 Tangible fixed aysets and depreciAtion (continued) Depreciation 15 Gbar8¢d so as to allocate th¢ Gost of taD8ibl¢ loss their residual value over their estimated useful lives, using the straigELt-liti¢ rnethod. Depreciation is provided on the following ba. Occupied PTOPCrty improyements Plant and machin¢ry Fixtures and fittings Office equipment 2Yo straight line - l(P/o straigbt lin¢ 25Y• straight line 25•/• straight line The &8sets' residual value4 usefill lives and deprecL&tion method$ are reviewed. pnd adjusted prospectively if appropriate. or if there IB an indication of a significant change since the1&8t reporting date. 2.8 Investments Fix¢d' asset investments are a fonn of financial instnunent and &Te initially r¢coEtLised at their tran&10 cost Pnd subsequently measured at fair value at the Bance sbeet date. unless the value cannot be eured relthly ill which case it is measured at cost less impairment Inveslment gains and losse& wh¢ther lSea or wtrea]ise(L 8r¢ ¢ombin¢d qnd ptes¢nted &9 'Gainsl(s) on investrnonts. An the St*em¢nt of fiDan¢ial activities. Fair value is determined by the Charitys invesljncot portfolio manager, using the market value of the listed investment shares at the BLtance sheet date. Current et investtn¢nts ar¢ those Ativestments held which are expected to b¢ liquidated withio the n¢xl tw¢Lve moLths. 2.9 Finllnf ill instruments The Chartty only has financial Sets and financial liabilities of a kind that qualify as basic financial ingtrutnents. Basic fInCl instrLunents are initially recognised at transaction Vlle and subsequently meosured at their settlement value with the exception of bllllk loat]s which are subsequently measured at atnortised cogt u8itLg the effe¢tiv¢ int¢r¢st m¢thod. 2.10 Operatillg leases Rentals paid under operating leases are cbarged to the Statement of financial activities on a straigbt line basis over the leL8e tsrm. 2.11 Pen510DS The Charity op¢rdt¢s a d¢fined rontributioD p10 scheme and the pension Charge T¢pres¢nts the amounts payable by the Cbarity to the fut in respect of the year. The ch8rity participates in & multi-employer defined benefit pension scbeme classified as a 'last man standAng' arngement. The s¢he(n¢ is a d¢fined benefit scheme in the UL whith provi(ks b¢uefits to sojlle several non-associated participating employers, It 15 llot possible for the Charity to obtaitL sufficient iDforinHtioEL to ellabl¢ it to tCOunt for the plau as a defmed benefIt scheme, ittherefore accounts for ttrAe plan as & defined contribution scheme. The schetne is subject to the funding legislation outlined in the Pensions Act 2004 which cam¢ into fow¢ ot] 30 D¢c¢mber 2005. This. together with documents issued by the Pensions Reguiaior alld Tecbnical Actuari SLiTrdards issued by the Finaucial Reporting Council, set out th¢ framework forfuudiDg d¢fiJ1 ben¢fit occupational pension schemes in the UK. Page 23
Age UK Be¢Y (A company limited by guarantee) Notes to the financial statements For the year ended 31 March 2024 Ac¢fjunting policies (eOlltiDued) 2.12 Fund accountlng Ge¢raI fimds are unrestricted fjjnds wbich are available for use at the discretion of the tnL8ts¢5 in furthelance of the g¢n¢ral obi¢¢tives of the Charity god which bav¢ not been d¢3igu8ted for other purposes. Designated fulld5 compTi3e U[strIted fiDds that hav¢ be¢ll s¢t aside by the tnthees for particulu purposes. The &im use of each designated fund is set out in the notes to the financial statements. ResLricted funds are fi]nds whith ar¢ to b¢ used in accordance with specific striCtionS imposed by donors Dr which bav¢ been raised by the Charity for particular purposes. The costs of raising and adrrtinist¢rin8 suth ndS 8Je charged against th¢ specific fund. Tbe aim and use of ea¢b restricted fund is set out in the notes to the fi[LaDc1 stat¢m¢nts. Investment income, gatns and losses ar¢ allocated to th¢ appropriate fund. Criti1 AccouutiDg estim¥tss, wumptions and *reA8 of judgment EstiJnat¢s and jud8tuents are continually evaluated and are based on historical experience and oth¢r factors. includillg expectatiolls of future events that are believ¢d to be reasonable uDd¢r the Ciwumsi. Tbe Trustses considerthat there aTe two such $i1ficant judgefftertts iMpting on this yeavs financial statements.. Multi4mployer pension $¢hem¢ As detailed in accounting policy 2.11. the Cbarity pgrticipates in & multi.employer defilled benefit scheme. The scheme is cIL8sified &q a'last-m&n ststLding arrangernenv. The ¢harAty consid¢rs th¢ scheme to be 8 defined contribution s¢beJne in accordance with FRS 102, due to th¢ inability to obtain sufticiellt information to identify the charity's slw¢ of underlying a5sws and liabilities. This judgement is made because the scheme's assets and liabilities are PLh)led and are not attributed to individual employers. If the charity were able to reliably detcrniinc Its share of the scheme's Sets and liabilities a def]ned benefit accounting approach would be adopted. Th¢ Clwity has nDt been made aware of any withdrawal from the scheme by other participating ewloyers aThd so no provision as b¢en in tlwe a¢GouDts for any liabilities cOnnred to the pension scheme. Le¥se contingent liability As disclosed in note 25 thcrc 15 a contingent liability in respcct of po&sible backdated rwt payments that may be due on the Charity's leased property. The tn¢¢5 have used their judgement to conclude that the criteria required to provide for the liability bave not been meL Page 24
Age UK Bexlcy (A company Limited by guarantee) Notes to the financial ylatements For the year ended 31 March 2024 Income from donations and legacies Unrestrictsd funds 2024 Total fonds 2024 Total futh 2023 Donations Donated faci]ities Donations 27,130 15,604 27,130 15,604 26,136 19,006 42,734 42,734 45, 142 Analysis of2023 byfynd 45,142 45,142 Dotlated facilities in¢lud¢ th¢ value for r¢nt fre¢ premises operated from during th¢ y¢ar. Income from ehariknble actiy[ti by of illcome Unre3trict¢d funds Rutricted fund8 2024 Total funds 2024 Total 2024 2023 Contract income 131,726 191,670 327.744 31.798 18.279 131,726 356,050 327.744 31,798 18,279 73,460 319,738 256.212 28.616 8,314 Grt income Day centr¢ incom¢ Nail clipping income Other incorne 164,380 701.217 164,380 865,597 686.340 Analysis of2023 byfvnd 558,478 127.862 686.340 Income from other tradlng activities Income from fundraising events UDre5trieled funds 2024 Totsl nds 2024 Total fyIS 2023 Fundraising 3,825 3,825 Page 25
Age UK Bexley (A ¢omp4ny limited by guarantee) Notes to the finallclal statements For the year ended 31 Mareh 2024 Inv¢stment iD¢orne UnreJtrict¢d funds 2024 Total runds 2024 Total 2023 Local listed investmeiits 9.216 1,288 2352 9.216 1,288 2,352 4,427 1,252 359 Foreign listed inveslments Bgnk intrrest 12.856 12.856 6,038 ApJalyuts of2023 tyfvnd 6,038 6,038 Investffl¢nt managetnent Costs Unregtricted nds 2024 Totsl funds 2024 Total fidS 2023 Investment matmgement fees 3.512 3.512 2,508 Artalysls of2023 tyfvnd 2,508 2,508 Analysis of expenditure un charitable *etivitle8 Summary by fund type Unrestrlete4] fDnds 2024 RestrSrted fiinds 2024 Total 2024 Total 2023 Relief of elderly people in md around London Borough oIBexiey 636,785 190.621 827,406 686,866 Analyjis of2023 byfund 548,556 138,310 686,866 Page 26
Age UK Bexley (A company lijnited by guarantee) Notes to the financial Statements For the year ended 31 March 2024 io. Analysis expenditure by A¢tivities Actiyities nllderlaken direetty Support togts 2024 2024 Totsl funds 2024 Total fvnds 2023 Relief of elderly people in around London Borou8 of Bexley 676.566 150.840 827,4Q6 686,866 Apk7tyNls of2023 535,528 151,338 686,866 An*ly8is ofdirect eosts Total funds 2024 Total 2023 Staff costs 636.026 7,090 l.467 31.983 507,080 5,111 598 Staff and agency costs Volunteer costs Materials ond activities 22. 739 676.566 535,528 Analysis of support costs Total funds 2024 Total 2023 Depreciation Maintenance of premises Reut and hirc Other premises costs Technology costs Legal and profession GovwDallce costs Oth¢r costs 8,094 762 7,887 1,407 44, 753 17.226 10,286 25, 740 7,020 37.019 65,135 21,052 8,082 4,380 43,335 150,840 151,338 Page 27
Age UK Bexley (A Company li]nited by guarantee) Notes to the financial stat¢ments For the year ended 31 March 2024 ii. IndepeDdent eilminer's r¢muTheration The independent examinerfs remutteration amounts to independent eXiner fee of £3.630. The f]nenGial statements w¢r¢ audited in the prior year. alld the auditoes remuneration was £7.020. 12. Staff ¢osts 2024 2023 Wages and salaries Social secwity costs Pension costs 563,392 45,091 27,543 453. 725 32.166 21,189 636.026 507,080 The avernge number of p¢rsons employed by th¢ Clwity duTing the Y as follows.. 2Q24 No. 2023 Contracted staff Bank staff 24 19 33 24 The average headcount expred full-time e(tuivalents WLS: 2024 2023 Contracted staff 17 15 Bank staff 19 J6 No employ¢¢ T¢(Ved remunerntion amounting to more than £60.iKKI in either year. The key NlageMent personnel of the charity comprises the Chief Executive Officer and the Senior Management Team. The total aggregate arnount ot employee benefiTS (including employer pension contributions Bnd eJDploy¢r aational iDsurdnce contributii)ns) rec¢iv¢d by key nanagetnent p¢rsonnel for their s¢rYices to the ¢lMrity wa5 £109,103 {2023.. £118.177). 13. Trustee5' remuneration and ¢xp¢nses During the year. no trustees received any remuneration or other Fthefits (2023- £NIL). During the year ended 31 Marcb 2024. no trustee expenses have been incurred (2023- £NIL). Page 28
Age UK Bexiey (A company limited by guarantee) Notes to the fInaneial ststements For the year ¢nd¢d 31 March 2024 14. Tangible fixed assets O¢cupied property improvements Plant and achinery Fixtur¢5 fittlngs Office eqxipment Totsl Cost At l April 2023 Additions 26.426 2254 38,500 3,510 4,287 1.528 18.988 1.544 88,201 8,836 At 31 March 2024 28.680 42,010 5.815 20.532 97.037 Depreciatio At l April 2023 chge for th¢ yeaT 1.195 547 11.397 1.575 2.947 1,143 13.285 4.829 28.824 8.094 At 31 M4h 2024 1.742 12.972 4,090 18.114 36,918 N¢t book volu¢ At 31 March 2024 26938 29,038 1.725 2,418 60,119 Ai 31 March 2023 25.231 27.103 1,340 5, 703 59,377 15. Fixed &et investments Lbted inves¢ments Valuation At l April 2023 Additions DisposaIs Revaluations 318,960 64,035 {66,006} 41.928 At 31 Match 2024 358,917 Page 29
Age UK Bexley {A Company limited by guarantee) Not¢s to the financlal statements For the year ended 31 Mareh 2024 16. Dobtors 2024 2023 Due within one year Trade debtors 54.161 25, 748 182 1.341 Other debtors Prep&yments and accrued income 420 54,581 27,271 17. Curr¢nt asjet investments 2024 2023 Unlist¢d investments (liquid) 12.932 12,678 A8. Cr¢ditDrs: AmDunts falling due within one yexr 2024 2023 Bank overdratL8 608 2.936 49,868 69 Trade creditors Other tsxation and social security Other creditors 14.215 11.099 AccNals and def¢tr¢d inwrne 4,200 17,020 29.514 70.501 2024 2023 Deftrred income at l April 2023 Resources deferred during the year Atnounts released from previous periods 10,000 41,600 io,000 (41.600) (10.000) 10,000 Deferred income at 31 March 2023 related to opergtional grant fLmdiDg received in advattce. Page 30
Age UK Bexley (A eompany limited by guarantee) Notes to the financial statements For the year ended 31 March 2024 19. Finan¢ial instruments 2024 2023 FinanciAI Assets Financial assets measured at fair value through income and expenditure 259.500 235,935 Financial ets me&sllred at fair value th)DUEb income and penditllre comprise tnvestments and C&sh at bank and in haud. Page31
Age UK Bexley (A company limited by guarantee) NoÉcs to the fiThancial statements For the ye¥dr ended 31 March 2024 20. StA¢ernent of funds Statement of funds- current y¢ar BalAnee at I Aprij 2023 Trattsfers illlout GaiDsI Bal4nee at 31 (Losses) Mareb 2024 kn¢oMe Expenditure Unrestricted fund5 Designatsd funds Staff contingency Disputed Rent 50.000 24.411 50,000 24,411 74,411 74,411 General G¢n¢ral FuDds Fixed ass¢t fund 430.050 59,377 700.032 (632,203) (8.094) (30.628) 8.836 40,467 568,318 60,119 489.427 760,632 (640.297) (21.792) 40.467 628,437 Totsl Unrejtrieted 563.838 760.632 (640.297) (21,792) 40,467 702.848 Re5trieted funds erccr 49200 10,455 (58,728) (24.445) (1.096) (40,121) (762) {1516) (7.000) (12.385) (1.262) (5,487) (2,800) (3.595) (1838) 9.528 13.990 MtS-CBT Grnundworks 1.096 Handy Person Tai 1 National Lottery William Kendall 40,000 1.850 121 (333) 15 755 2.501 1.333 5.667 Cost of Living-NL Wlnt¢r Health Emanuel Hospital Cafe's National Grid 12.382 1,000 9,375 i 1,000 3.000 3.000 262 274 (4.162) (8,200) 595 LolldoEL Catalyst LCY Community rAllS-National Lottery (162) 23.118 (27.586) 4.468 5,204 164,380 (190,621) 21.792 755 Tothl of funds 569,042 925.012 (830.918) 40,467 703.603 Page 32
Age UK Bexiey (A company limited by guarantee) 1¥4otes to the fjnanclal statements For the year ended 31 March 2024 20. Statement of fund5 (continu¢d) Statemollt of funds - prior year Balunce at l April 2022 Gains/ Bal(mce at (Losses) 31 March 2023 tnconte Fupepdltsffe Tranrfers Iv/our Unrestricted fund8 D¢sigll4ted fullds Staff Gontiogen Dlsputed Rent 50.000 24,41] 50.000 24,41] 74.41J 74,411 General funds G¢Theral Funds Fixed asset fimd 399.858 67,264 609.658 (543,177) (7,887) (739) (35,550) 430,050 59,377 467,J22 609.658 1551.064) (73S)) (35,550) 489,427 Total Unrestrlcted funds 541.533 609.658 (551.064) (739) (35,550) 563,838 Restricted fund Mercer 45,64Q (48.258) 2.618 ,57J) 754 MIS-CBT 8,571 835 Groundworks Handy Person Tai Chi 1,096 43.568 1.030 6.449 2,000 {1,589) (48,918) (1,030) (3,945) (667) (5,507) (2,588) (2,851) (900) Q2,054) 1.096 5.350 National Lottgry willia Kendall Cost of Living-NL Winter Health 2.501 1,333 5,507 2.0(10 3.J25 588 Emanuel Hospital Cate's National Grid London Catslyst 274 22,054 14.913 127.862 (138.310) 739 5,204 Total of funds 556.446 737.520 (689,374) (35,550) 569,042 Page 33
Age UK Bexley (A company limited by guarantee) Note5 to the finaneial statements For the year ended 31 March 2024 20. Ststement of funds (continued) Purposts of Re3trictsd funds The grant makas bave specified that the fimds we used for the following purposes: M8rcer. to provide futidin8 for the Bexlcy Befriending Cafe's, projecL The f[Y spent dwing tbe year Men in Sheds: to cover the salary of a fjjll tlme project worker and n]nninE costs.The fund Wds fiilly spent duTillg the year Groundworks: to provide fimding for the 'Active Living- Walking Cafe Proj¢d.The fLmd was fully sp¥nt during the ycHr H(thdy Penon; Th¢ Ag¢ UK C05t of Living fimd w covers start up costs for the Handyperson Service and tbe Belvedere Day Centre. The fiuld w&8 fully spent durlng the year. Tal Chl: to provide and improve overall fitS & bai4nG¢. Naltonal Lottery: this grdnt from National Lottery Awards for All PD)vided funding for Rosemary Café for old¢r p¢opl¢ with Dem¢nli& The lld was fully spent thring the year. WUll(4m KeAdAU.' to provid¢ funding for th¢ developm¢nt of digital pmjects. The fulld w&8 fully 5tKnt iu th¢ year, C05t of Living-N¢thonal Lollery: Provides fill]llg for our Welfare Benefits Advice service. TILe fund was fvlly spent in the year WIAier Healih: to proYid¢ funding for Winfrr Health including Digital Dro101cafè (Active Living). Th¢ fijnd was fully spent in the year. EmanuelHospllol: provides fLUkding for our Welfare Benefits Advice service.The fund was Aljlly spent iti the year. Crfe'&Natlond Grid: to provide fundin8 for the B¢xley BefriendAn8 Cafe's, projecL The fid was fully spent during the year London Catalys£/LCY CoMuHunlty". to provid¢ fimding for the Wexley Befriending Cafe'l projecL The funds were )1Y spent during the year. Men In Sheds - N+thoMalLrtiey". to provide fundin8 towards th¢ Rosmary Cafe for one y¢llr, The funds were fully sperLt dwing the year. 21. Analysls of net Assets bttiyetn funds ADatysA8 of net assets between fuDd5- eurrent period Ullrestricted funds 2024 R¢stricted funds 2024 Tothl 2024 Tangible fjx¢d assets Fixed gss¢t inv¢stmeuts Current a&sets 60.119 358,917 313.326 (29.514) 60,119 358,917 314,081 (29.514) 755 Creditors due within one year Totsl 702.848 755 703,603 Page 34
Age UK Bexley (A company limited by guarantee) Notes to the fmancial statements For the year ended 31 March 2024 21. Analysis of ll¢t assets behveeD funds (eontlnued) ArtAIysts of net assets betweeD fvMd8- prior periDd UnrestrKtgd Total Restrictedfundg 2023 2023 2023 Tollgible fixed assets Fixed asset investments 59.377 318.960 256,002 (70,501) 59,377 318,960 261,206 f/O,501) Cllrrt a&sets Cr¢dilors du¢ withtn Ime year 5,204 Total 563.838 5,204 569,042 22. Reeonciliation of ttet movement ID fullds to n¢t flow fro operatlog activltle4 2024 2023 Net incom¢ for the period (as per Statement of Finaticial Activitie5) 134,561 12.596 AdJustments for: DepTeciation charg Gaittsl(Ios5¢8) on investments Dividends, interests and rents from investments Decreasd(incrwe) tn debtors DecreasE in creditor5 8,094 (40.467) {11856) (27,310) (40,379) 7,888 35,550 (6,038) 23,227 (JO,880) Net Cash provlded by operating activities 21.643 62,343 Analysls ofeash and $h equivalents 2024 2023 Cash in hond Cash investments Ov¢rdraft facility repayable on demand 246.568 12,932 221,257 12,678 (608) Total ea$h and e*$h equivalents 259.500 233,327 Page 35
Age iJK Bexley (A company Ilmited by guarantee) Notes to the financial statements For the year ended 31 March 2024 24. Analysls of changes in net debt At l April 2023 At 31 Mar¢h 21)24 Cash flows Cash at bank a)]d in Iwid 221,257 {608) 12.678 25,311 608 246.568 Bank overdrafts Tepayable on deD]wJd Liquid investments 254 E2,932 233.327 26,173 259,500 25. Contingent liabilities The Cbarity was &nfornied June 2018 that its landlord would b¢ expectiog paym¢ttt of reuts on its leag¢d propety ba¢kdat¢d to 2014. The Chwity had historic writtell atld verbal ¢vidence illdicatillg that any rents pertaining to its occupation of this prop¢rty would be deducted and cross charged at soutte. A o¢w a8r¢em¢nt w&8 elltered ittto from 2018 until July 2020 when tbe Charity vacated the propety and moved into new offices. The new agreement and rorrespondence iv(th the landlord stated rent would be d¢du¢td at sourc¢ but was never tsk¢n and tkn¢ 18mdlord has not responded to the Chgrity's solicitors cowndence, and closed the case. Having considered the Charity's obligation4 probability of a settlement and reliability of calculatiort of a liability. the Charity has ¢oo¢lud¢d these criteria can llot be sufficiently meL and have not provided for any liability. At the time of signitig the fitthn¢ial statements, th¢ Charity continues to wrrespond with th¢ landlord in &n attemptto resolY¢ th¢ dispute. The Charity h&q created a separete designated fid for the disputed rent amoulll should tbe matter not conclude in the CILarity's favour in the near future. 26. Pension commitments The Charity operates a defjned ¢olltributiou pension scheme. The assets of th¢ schem¢ ar¢ held separ&frly from those of th¢ group in atk Andepcndently Ldministered fund. ContributioTr8 tolalling £Nil {2023.' £Nil) were payable to the fund at the balance sheet date and are included in other edItor& The Charity is a memb¢r of a mulii-¢mployer scheme, as detailed ID acUting policy 2.11. A full Rctuarial v8Juation for the scheme was catried out at 30 Septernber 2020. This valuation showed assets Df £800.3 liabilities ot £83 1.9m and a deficit of £31.6m. To eliminate this fundtng shortE811. the Trustee IS xsked tbe participating employers to pay additional contributions to the scheme as follows: Deflcit contributions: From l April 2022 to 31 January 2025: £3,311000 per annutn Unl¢8s a ¢QJAcession ba5 be agreed with the Tru8tee, the term to 31 January 2025 applies. The scheme's previous valuation was ¢Ti¢d out with on BfftiVe dat¢ of 30 S¢ptemb¢r 2017. This valuation Showed a85¢ts of £794.9m, liabilities of £926.4rn deficit of £131.5m. To eliminate this funding shortfalL the Trustee has asked the participating employers to pay additional contributions the scheme as follows: DefJ¢it contributions: From l April 2019 to 30 September 2025: £11243.000 The re¢overy pLMn contributio% are allocated to e8ch porticipating etnployer in line with thetr estimated share of tbe Series l and Series 2 scheme liabilities. Page 36
Ag¢ UK Bexley (A company limited by guarantee) Notes to the fInancial stat¢ments For the year ellded 31 March 2024 26. Ptnsioll commitments (continued) Where the scheme is deficit and ivbere the Charity has agrecd to a deficit fundillg rngement the Charity would recognise a liability for the obligation. Th¢ 8Jnount recognised would be the net Present value of the deficit redurtion contributiolls payable under the agreement that rel&tes to the defioit, The pr¢s¢nt value would be caJcul&ted using the discount ratc of 5.3111/0 (2023.. 5.52Y). The unwkttding of the diScoAt rate would be recognised & finance Gost. The Clwity's share of the obligation under lh¢ recovery pian referred to abov¢ at 31 March 2024 b&s been valued at£119 (2023.. Q55). 27. Operating Itase eommitments At 31 March 2024 th¢ Charity had commtlm¢Dts to make Minimum lease payments under n0Th-CanlIable operating l¢as¢s follows-. 2024 2023 Not later tlwi l year Later tlwi l ye8r and not l&t¢r tlwi 5 years 7,320 8,640 13,661 15,960 15,960 29,621 28. Memberj, Ilability Each member of the cbaritsble company undertak&s to contribute to the wets of the company in th¢ ellt of it being wound up while helshe is a rnemb¢r, or vlithin one >rar aft¢r helshe ceases to be a member. such amount may be required, not excceding £1 for th6 debts and liabilities contracted before he/she ceases to be a member. Page 37
Reference and administrative details Trustees A. Pang, Chair L. Cashin M. Hamilton S. Holmes, TaSurer A. Johnson (appointed 2 May 2023) B. Kozlowicz T. MaY {resigned 9 June 2023) C. Pellicci (appointed 30 January 2024) T. Shah L. Weymouth Independent examlners UHY Kent LLP Va UHY Hacker Young Chartered Accountants ststutory Auditors Thames House Roman Square Sitttngboume Kent MEIO 4BJ Bankers Bardays Bank plc 6 Market Pla Bexleyheath Kent DA6 7DY President Mayor of Bexley Company reglstered number 04244876 Charity registered number 1088399 Registered offi Belvedere Community Centre Mitchel Close Belvedere Kent DA17 6AA Company secretsry A. Baker Chief executive officer A. Baker Senlor manager A. Bygrave, Care Servi5 Manager/Operations Manager The Trustees pre*nt their annual rewrt together with the financial statements of the company for the year l April 2023 to 31 March 2024. The Annual rep)rt serves the pU>seS of both a Trustees, report and a Directors, report under Company Law. The Trustees confirm that the annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisons of the Ststement of Recommended praCkn (SORP) revised 2019 applicable to charities preparing their accounts in accordan with the Finanaal RepK)rting Stsndard applicable in the UK and Republic of Ireland (FRS 102). Since the company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Att 2006 (Strategic Report and Directors, Report) Regulations 2013 has been omitted. Given the current economic dimate and rising audit costs as a result of increased audit regulation, the Trustees carefully considered the needs of the charity and made a decision to have an independent examination of the annual report and financial statements, moving away from the statutory audit performed in pVIouS years. A full tender process was conducted to app(Mnt our independent examiners. 38