Coventry & Warwickshire ageuK Trustees, Report and Financial Statements for the year ended 31 March 2024 Registered Charity Number 10901K)7 Company Registration Number4221822
Registered Charity Number 1090007 Company ReEiStration Number4221822
Age UK Coventry and Warwickshire Year ended 31 March 2024 Contents Poge Company Information Report of the Board of Trustees Independent Auditols Rewrt 17 Consolidated Statement of Financial Actrvities 21 Group and Company Balance Sheets 22 Consolidated Statement of Cash flows 23 Notes to the Accounts 24 Registered Charity Nvrnber 1090007 Company Registration Number 4221822
Registered Charity Number 1090007 Company Registration Number4221822
Age UK Coventry and Warwickshire Year ended 31 March 2024 Legal and Administrative Information Charity Registration Number (England & Wales) 1090007 Company Registratlon Number (England & Wales) 4221822 Trustees & Dirertors Gill Entwistle (Chair from l April 2023) Grace Hampson (Chair to l April 20231 Mark Harris Margaret Egrot Laurence Tennant (Treasurer) Darin McLean Charlotte Ponder Lauren Duncan Aleksandra Lambrecht Andrew Lester Ih resigned 25 April 2024 appolnted 28 April 2023 appointed 28 April 2023 Company Secretary and Chief Executive Mlchael Garrett 9 May 2018 Registered Office Smedley House 8 Clemens Street Leamington Spa Warwickshire CV312DL Email.. Website.. Telephone: Fax.. info www.a eukcovwarks.co.uk euk.0 covent 01926 458100 01926 458141 andwarwickshire Auditor5 Harrison, Beale & Owen Chartered Accountants and Statutory Auditors Highdown House 11 Highdown Road Leamington Spa CV31 IXT Bankers Barclays Bank plc 150 Parade Leamington Spa Warwickshire CV32 4AG ReElStered Charity Number 1090007 Company Registration Number4221822
Age UK Coventry and Warwickshire Year ended 31 March 2024 Solicitors Wright Hassall Olympus Avenue Leamington Spa Warwick5hire CV34 6BF Investment Fund Manager Redmayne Bentley LLP 9 Bond Court Leeds LSI 2JZ Patrons Li2 Kershaw Rogercadbury President Vacant Vice Presidents Michael Gledson Honorary Life Members Mike Stevens Elizabeth Phillips Registered Charity Number 1090007 Compatbv Registration Number4221822
Age UK Coventry and Warwickshire Report of the Board of Trustees for the year ended 31 March 2024 Report of the Board of Trustees Introduction and Summary Review of the Year The charity launched a bold strateglc plan in March 2022 for 2022-25 demonstrating a commitment to extending its reach into cornmunities and to develop the retall and fundratsing functions to ensure the financial sustainability of the charity in future years. Both retail and fundraising perfomiance improved steadily during the year. In April the marketing team released the first edition of the charity'5 Guide to Later Life. The publication, detailing the full extent of the charitrfs services also provided useful informatlon on the Care Act and additional seNices that older people and their families are able to access. In October we welcomed the Chief Executive of Age UK National, Paul Farmer to meet the teams and volunteers. Paul was greeted by volunteers at our activity centre in Earisdon before visited out Reuse store in Leamington and then a host of staff at our Clemens Street office. Paul was struck by the uniqueness of the service offer compared to other Age Ults across the country. In September we attended the Age UK National Conference and Chief Executive. Michael Garrett, led theme groups to help determine the direction of the nationally agreed shared strategy. The charlty developed a partnership with Bablake School during the year and engaged the children In some multl-generational activities. This included the children sending Christmas cards and letters to older, isolated people,. a fundraising activity led bythe children and. the children joined ourvolunteers at our Earlsdon activity centre to learn both knitting and woodworking skllls. The charity also said farewell to a Trustee, Lauren Duncan, who recently resigned from the Board, Lauren Is an experienced retailer and was proactively involved with supporting the retail manaEers and front-line teams. Structure, Governance & Management Governing Document The organisation is a charitable company limtted by guarantee, incorporated on 22 May 2001. The Company wa5 established under a Memorandum of Association. which established the objects and powers of the charitable company, and 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. Recruitment and Appointment of Board Trustee5 The Directors of the Company are also CharityTru5tees for the purp05e5 of Chartty Law and underthe Company's Articles are known as members of the Board of Trustees. Under the requirements of the Memorandum and Articles of Association the members of the Board of Trustees are elected to serve Registered Charity Number 1090007 Company Registration Number 4221822
Age UK Coventry and Warwickshire Report of the Board of Trustees for the year ended 31 March 2024 for a period of three years after which they must be re-elected at the next Annual General Meetin& up to a maximum of eight years. The Board of Trustees seeks to ensure that older people are adequately represented on the Board, The Trustees bring a broad mix of skills to the Board, providing financial, corpordte, training, personnel, company secretary, health & safety, education, health, legal, care and housing experiences. When a vacancy occurs, Trustees are recruited to meet the skill gap requirement and to ensure that that they portray a broad profile that retlects the local community. One Trustee has resigned their POSFtion afterthe yearend. Lauren Duncan (April 2024}. Trustee Induction & Tralnin8 All new Trustees attend an inductlon Course followed by a series of meetings with key staff to familiarise themselves with the work of the Charity. Inltlal induction meeting5 include the Chair and Chief Executlve and discuss govemance and management responsibilities of the Trustees. New Trustees also receive a Trustee Handbook containinggoverning documents, committee and managementstructure charts, strategic plan, annual accounts, role description. contact details, inforrnation on Services and Charity Commission publications. Organisational Structure The Board of Trustees meets quarterly and Is responsible for the strategic direction of the Charitv. Additlonal meetings may also be scheduled as appropriate. The Chief Executive and Senior Officers are also in attendance. There are additional committees attended by Trustees, the Chief Executlve and other Senlor Officers as appropriate and are Finance and Audit Committee, Quallty & Compliance Comrnittee and Remuneration Committee. The daY-tdaY responsibility for the provision of services is delegated to the Chief ExecutÈve, supported by the Director of Service5, Director of Operations and Head of Finance. The Chief Executive, supported by senior offlcers, has overall responsibility for ensuring that the Charity delivers the services in accordance with the Business Plan and meets the key performance indicators, the development of new business and income streams," qualty assurance and rernaining on budget. Pay Policy for Senior Staff The pay of the senior staff is usualty reviewed annually and Tru5tee5 benchmark against pay levels in other relevant charitles. If recruitment has proven difficult in the recent past a market-related addition may a150 be paid. Reg15tered Charity Number 1090007 Company Registration Number 4221822
Age UK Coventry and Warwickshire Report of the Board of Trustees for the year ended 31 March 2024 Risk Management and Intemal Controls The Trustees have overall responsibility for ensuring that the Charity has appropriate systems of control, financial and otherwise and to provide reasonable assurance that: the charity is operating efficiently and effectively its asset5 are safeguarded against unauthorised use or disposition proper records are maintained and financial information used within the charity or for publication is reliable the charity complles with relevant laws and regulations The systems of internal control are designed to provide reasonable. but not absolute assuran against material misstatement or loss. They include: a strategic plan and an annual budget approved bythe Trustees regular consideration by the Trustees of the financlal results, Varian from budgets, non- financlal performance indicators and benchmarking reviews delegatlon of authority and segregation of dutie5 the Identification and management of risks The Trustees have established a formal risk management process to assess business risks and irnplement risk management strategies. This involves an annual review identifying the types of risks the charity faces, for example- the impact of chanEes in statutory policy on third sector funding; loss of on-going fundinE,' reputational risks: loss of key staff; and prioritising the risks In terms of potential Impact within the risk regter and likelihood of occurren, in order to identify means of mitigating the risks. Public Benefit The directors have complied with the duty in Settion 3 of the Charities Act 2011, to have due regard to the public benefit guidance published by the Charity Commission. The directors believe that the charity, in promoting its aims and objectives, gives direct benefit to all patrons with whorn they come into contact. These will include- being respected, being able to express their views, and to be listened to. having access to opportunities and activities enablin8 a healthy, active and fulfllling life. having access to high quality information, advice and a(fvocacy when required. being financially independent, and to not see fit to compromise spending on one essential necessity to pay for another. Registered Charity Number 1090007 Corrpany Registration Number 4221822
Age UK Coventry and Warwickshire Report of the Board of Trustees forthe yearended 31 March 2024 having access to high quality care serVIS in their local communities. living in age-friendly communlties where they are welcomed a5 active, equal participants and enabled by their communities to lead an active, healthy and fulfilling life. having equal access to Services and amenities. educating the general public through information in retail shops. Aims, Objectives and Activities In March 2022 Trustees launched the Charivsstrategy for 2022-25. This launch followed extenslve consultation with internal and external stakeholders and a detailed review of the external operating environment, including competitor analysis, service access and changing needs of the community as a result of the pandemic. The new Vlsion, Mission and Values of the Charity are: Vision A society in which we can thrive as we age. Mission Improve later life with dignity and Independen in Coventry & Warwickshire Value5 Collaborative We will work together and wwth others to achieve Integrtty We will be open, honest and respectful of each other, our partners and communities Responsive We will respond quickly and positNely to opportunitie5, feedback and the changing needs of ourcommunities Effectlve We will ensure that we have a positive impact and will promote and celebrate this succes5 The Charity has set out a number of ambitions for older people in Coventry and W3rwickshire'. express theirviews and be listened to on matters that affect them and about which they care have easy access to opportunities and activities that enable them to lead a healthy, active and fulfilling life, with the companionship and support they wish Registered Charity Number lo907 Company Registration Number4221822
Age UK Coventry and Warwickshife Report of the Board of Trustees for the year ended 31 March 2024 know about arid have easy acces5 to high quality, impartial and reliable information, advice and advocacy when they need Ét in the way they need it have enough moneyto live cornfortably and never need to reduce their spending on one essential to pay for another have access to locally available. high quality health and care services that meet their unique needs, make best use oftheirskills and connection5, and are affordable to them or free of charge live in age-friendly communities and places where they are welcomed as active, equal participants and enabled by their cornmunities to lead an actÉve, healthy and fulfilling life be themselves, accorded equal respect, and have equal access to services, amenlties and opportunities to be included be valued forwho they are and the contributions they have made and continue to make to society The Charity also sets out its commitment to Volunteering: e are committed to the social value of volunteering as a vital Resource for the charity to serve the local community and as a means of social integration and development." Strategic Objectives 2022-25 The Charity has set out its strategic objectlves in the new strategy for 2022-25 Strateglc document launched In April 2022. They are: Strategic Priorities: Promoting the Voices of Older People The marketing team have developed their knowledge base of key issues affecting older people and been able to support charity managers in articulating these issue5 through a range of media outlets and wlth local decision makers. Key issues raised through the year have included.. the impact of digital exclusion on older people,. the importance of obtaining a diagnosis of dementia; the impact of befriending on reducing loneliness; the social contribution of charity retailing and; the sharp end of comTnunity outreach work and examples of how staff are improving15ves on a daily basi5. Registered Charily Number LO90007 Company Registration Number 4221822
Age UK Coventry and Warwickshire Report of the Board of Trustee5 for the year ended 31 March 2024 Improving Access to Advice and Infomiation Information & Advice {I&AI, Contacl & Triage IC&T), and Preventative Support CoTnmunity Outreach IPSCO) contribute towards this strategic priority. All services are part funded to deliver a service in Coventry by the Cty Council's Preventative Support Grant. Wtth the I&A service receiving additional funding through Age UK National. The charity also invests its free reserves to sustain the operation of the services, During the year 6,503 people accessed the Servi recelving help on 20,531 issues with the team generating over £1.27Million in welfare benefits for local older people. Primary access to the service is via telephone sUPPOrt wwth emergency responses, and through home visits. The service has strengthened its reach by signlng up to work closer with the National charity which enables a greater number of local people to reach the advice line backed up with national support with additional internal referral to the local level. Tackling Loneliness and Isolatlon The activity centres, based in Coventry and Rugby, provide a wide range of workshops and activities includlng computerclasses. pottery. woodwork and crochet. The centre in Rugby holds a Men in Sheds project, walking football and a social group on a Wednesday. During the year over 6,000 vlslts were undertaken by older people engaging in these artivities. The BefriendinE services are predominantty provided through charitable reserves, wlth additional funding through the Coventry building Society and Smedley Trust. These services provide essential social contact and interaction for older people who are isolated within the community both through telephone calls and home vislts. Throughouttheyear 313 older people were matched with likemlnded volunteers to reduce their level of loneliness and isolation, with the service also supporting 61 clients through befriending coffee group5. Volunteers play a fundamental role in seiCe support and delivery throughout the charity. Key areas of involvement are in retail, befriending, counselling and with office administration. During the year 304 volunteers were actively involved with the charity across city and county. Connerting with our Communities staff have been encouraged to build on their awareness of the needs of theirclients and the needs of older people in Coventry and Warwickshire. Retail teams have continued to raise awareness of charitable services and acttvities in the 13 retail outlets and have supported clients by providing useful information guides that highlight common needs of older people in the local area. Services have been promoted through regular attendances at communtty events, Adult Social Care events, and guest appearances on BBC Coventry & Warwick5hire Radio. io Registered Charity Number 1090007 Company Registration Number4221822
Age UK Coventry and Wanuickshire Report of the Board of Trustees for the year ended 31 March 2024 Enabling Independence through Health & Care Services The Home Support service provides cleanin& gardening. meal preparation, rnedication support and befriending that contributes significantly to older people living independently in their homes for longer. The HomeSupport5ervice has continuedto re-build the level of Servi post pandemic and has shown stability in service delivery. The service has seen success with recruiting in rural locations of Stratford and North Warwlckshire, however, contlnues to experience recruitment challenges and is adopting alternative approaches to aid recruitment. Th roughout the yearthe service reached 795 older people delivering 29.947 hours of practical support in the home and supported 71 people with practical support pre and p05t dtscharge from University Hospital Coventry & Warwickshire. The Dementia Day Care service is funded through an agreement with Warwickshire County Council for Day Care support for people living with dementia. The servi operates in Rugby, Atherstone, Nuneaton, Stratford, and Warwick. Private places are also available foi clients wishing to purchase in addition to those paid for by the local authority, or for people who do not qualify for local authority funding. Throughout the yearthe service has supported 157 clients to access day care. The Dementia Day Care agreement wwth the county council is due to end in Aprll 2025, and a retendering process wlll commence in late 2024. A market test exercise was completed by the local authority in April 2024, which, along with the combined Coventry and WaTwickshire Living Well wlth Dementia Strategy, will influencethe development of the Dementia Support services offer. After an Initlal pilot, as part of the Integrdted Dementia Service that was delivered in partnership with Coventry & Warwickshire Partnership Trust Icwpn and the ending of Age UK National funding, the Coventry and Rugby Maintenance CognTtive Stimulation Therapy IMCSTI groups have continued throughout 23124. The group5 have supported 40 people living with dementia by slowing the decline of their cognitive function through stimulating activities and reminiscence work, which helps to maintain memory and mental functioning. Social prescribing in Warwickshire ts based within George Eliot Hospital, South Warwick Hosplt31. and Hosplt81 of St Cross, with Social Prescribing support provided to local community hospitals. The purpose of the servlce is to facilitate the re-integration to comrnunity life following a spell in hospital. Socia I prescribers are based within the hospital and meet patients on the wards where they will seek to make necessary arrangements for when the patient is discharged and provlde short term support post discharge to prevent readmission. The Servi reached 618 people throughout 23124 and supported their re-integration at home following a stay in h05Pital. The Money Management team hold formal legal responsibility for managinE the legal affairs of vulnerable adults as determined by the Court of Protection and the Department for Work and Penslons. The service holds a contract with Coventry City Council to delwer appointeeships. and following a market test exercise the contact has been extended till 2027. 595 clients accessed the service during the year. li Registered Charity Number 1090007 Company Registration Number4221822
Age UK Coventry and War4Vitkshire Report of the Board of Trustees for the year ended 31 March 2024 With growing waiting lists for alternative counselling services, the need for our Counselling service continues to grow. Client support 15 be varied, however the primary reason for many clients accepting counselling support is due to the loss of a loved one. As grief has no time limit, clients may be 5UPPOrted following a recent or historic bereavement. The counselling service is supported by 33 volunteers wlth a mixture of trainees on placement and qualified counsellors, who have supported 186 clients through counselling. Counsellors offer confidential support to clients through a m ixture of face to face, telephone, and online sessions. An additional 42 clients received low level psychological support, through self-help guides and signposting. The counselling seryice is predominantly provided through charitable reserves, however, also receives funding from Coventry Building Society and Smedley Trust. The additlonal funding allows the Counselling service to deliver group bereavement counselling by a trdined counsellor. The sessSons supported 14 attendees throughout the year. Strateglc Enablers Strong financlal Health The Trustees had established the need for the charity to be sustainable in what was already a challenging operating environment prior to the pandemic and set out a number of objectives that would strengthen its resilience. Trustees have invested in four separate retail initiatives including an ecommerce offering and store expansions. They have also invested in the fundraising activity of the charity which have combined to enable the charityto exceed budget performance in both years of the strategy 50 far. The forthcoming twelve months are critical for the charity wlth every commissioned service up for renewal by March 2025. The money management service commissioned through Coventry Cty Council was re-awarded to the charity in April 2024. A Sound Infrastructure The charity is in the process of reviewlng tts physical estate and is exploring the long-term options by setting the charity up for future challenges. Trustees are also conducting a thorough review of risk management processes following the significant review conducted at the time of the charitrfs most recent merger in 2019. 12 Registered Charity Number 109(K)07 Company Registration Number4221822
Age UK Coventry and Warwickshire Report of the Board of Trustees for the year ended 31 March 2024 A Great Place to Work staff and volunteers have demonstrated the charity is a great place to work with a sati5factlon score of over 80%. DurlnE the year there have been many occasions where the contributions of staff and volunteers have been recognised. At team meetings, lunches, at stskeholder events and special long servlce award sessions. Staff development plans have been launched for all staff working remotelv and the benefits of working for the charity shared across all teams. To Be Collaborative Collaborative projects have been undertaken with Age UK National and the charity has extended the operational relationship with Age UK Binningham relating to staffing. The charity is actlvely working with Rugby Borough Council on asset and Service development and exploring how to extend the long- terni relationship with the Smedley Trust on services and physicdl a55ets. Special Acknowledgements from the Board of Trustees The Trustees would like to formally acknowledge the slgnificant support received from many partners to enable the charitable objectives of the charity to be achieved. The S.W Smedley Charltable Trust The Trustees would Ilketoformally acknowledge the ongoing support of the SmedleyTrust. The Trust, chaired by13n Smedley, has continued to be a supporter of the charlty through the shared ownership nd use of the Clernens Street Head Office building and funding for counselling and befriending services. The Cadbury Trust The Trust has for many years supported the charity to develop new initiative5. The grant Is used to support Dementia services. The Board of Trustees acknowledEesthe generosity of Roger Cadbury CBE with particular support for the Inforrnation & Advice services. Age UK Twstees acknowledge the relationship with the National Charity and areas of support and collaboration between the two. These include the development of a shared strategy and agreement for the whole country that is due to be agreed in the autumn 2024. Legacie5 ahd Donations Trustees value highlythose formerclients and community member5 who have left legacies to support the general work of the charity. These funds are set aside from mainstream operations to invest In charitable and community-based operations that have no alternative income stream. 13 Reglstered Charity Number 1090007 Company Registration Number 4221822
Age UK Coventry and WaYwick5hire Report of the Board of Trustees for the year ended 31 March 2024 Staff and Volunteers The Trustees acknowledge the significant corstributlon of the staff and volunteers of the charity. At 31 March 2024, there were 225 staff employed and 316 volunteers. Financial Review Principal Fundlng Sources The main funding bodies are Warwickshire County Counci5 IWCC) and Coventry City Council {CCCI in the form of grant5. Other major grant or sponsorshlp organisations include: Age UK, Roger Cadbury Trust, The Smedley Trust and the 29 May 1961 CharitableTrust. The Charity operates a substantial retail operation that generates unrestricted funds th3t can be used to support other charltable objectives. Investment Pollcy The Trustees have wide powers of investment. The investment wlicy of the Trustees is to protect all capital sums held by prudent investment. Consequently, surplus funds are normally held in instant acsS. higher interest deposit fund accounts or, when available, as short term deposits in the money market with the charity's bankers. In view of the contlnuing low level of interest rates. the charty ha5 used professional investment managers to establlsh a low risk investment fund with the aim of generating higher returns. With the increasing levels of interests rates trustees are actively monitoring performance of the investment and considering alternative options. The fund was valued at £242k as at 31 March 2024 {£233k as at 31 March 20231. Reserves Policy The Trustees have examined the requirement for free reserveswhich arethose unrestricted funds not invested In fixed assets, designated for specific purposes, nor irrevocably committed to specific projects (General Fund). The Trustees consider that given the nature of the Charivs activities, a minimum level of unrestricted reserves is represented by a sum equivalent to two months, salary, pension and national insurance Costs, together wtth twelve months. rent and similar fixed comrnitments. This would require a minimum of £850,OIK) at the year end, against which the current level of unrestricted reserves is £940,000 as at 31 March 2024. The Trustee5 consider that the unrestricted reserves as at 31 March 2024 are sufficient to cover these commitments. Total funds at the 31 March 2024 were £3,486k12023: £3,474k}. Restricted funds totalled £706k 12023: £670k}. Unrestricted funds totalled £2.780k {2023- £2.804kl. of which £1,840kwere designated {2023: £1,840kl, and other general funds were £940k12023: £964kl. 14 Registered Charity Number 1090007 Company Registration Number 4221822
Age UK Coventry and wan1£kshire Report of the Board of Trustees for the year ended 31 March 2024 Future Plans The Charity is making good progre55 against the targets set out for the first two year5 of the strategy for 2022-25. It will formally review its progress towards the end of the year 3nd it is expected that new strategy will be developed for April 2025. The charity wlll be actively participating in multiple competittve tendering exercises in a bid to maintain and extend the Servi offer to older people within the area of benefit. The charity will continue to promote the voice of older people through direct liaison with staff In public authoritie5 and more broadly through media channels. Trustees commitment to the long-term financial security of the charity is supported by investment in new store development which is expected to continue over the next twelve month5. Trustees place huge value on the effort and commitment of all staff and volunteers. Their desire to ensure the charity is a great place to work and volunteer is resolute and will continue to work to achieve this in the coming years. 15 Registered Charity Number 1090007 Company Registration Number 4221822
ABe UK Coventry and Wanvlckshlre Report of the Board ofTrustees for the year ended 31 Marth 2024 Statement of Trustees, Responsibilities The trustees (who are also the dlrectors of Age UK Coventry and Warwickshire for the purpose5 of company lawl, are responslble for preparing the Report of the Trustees and the financial statements in accordance wlth applicable law and United Kingdom Accounting Standards (Unlted Kingdom Generally Accepted Accounting Pracucel. Company law requires the trustees to prepare the financial statements for each financial year whlch glve a true and fairvlew of the state of affalrs of the charitable companyand of the incomlng resources and application of resources, including the Income and expenditure, of the charitable company for that period, In preparing those financlal statements, the trustees are required to: select suitable accountlng policles and then applythem conslstently; observe the methods and princSples In the Chartty SORP,. makeJudgements and estlmates that are reasonable and prudent,. and prepare the financial statements on the golng concern basis unless it Is inappropriate to presume that the charitable company will contlnue in business. The trustee5 are responsible for keeping proper accountlng records whlch dlsclose wlth reasonable accuracy at any tlme the finanelal position of the charltable company and to enable them to ensure that the financial statements comply wlth the Companies Act 2006. They are also responslble for safeguarding the assets of the charftable company and hence for taklng reasonable steps for the prevention and detectlon of fraud and other Irregularitie& In so far a5 the trustees are aware: there Is no relevant audit infonnatton of which the tharttable company's auditors are unaware,. and they have taken all steps that they ought to have taken to make themselves aware of any relevant audlt Infomiatlon and to establish that the auditors are aware of that informatlon. Report of the trustees, Incorporatlng a 5trateeic report. approved by order of the Board of Trustee5, as the company directors, on 17th September 2024 and Signed on the board'5 behalf by: Glll Entwlstle Chair 16 Reglstered Charity Number 1090007 Company Registration Number4221822
Age UK Coventry and Warwickshire Year ended 31 March 2024 Independent Auditorfs Report to the Trustees of Age UK Coventry & Warwickshire Opinion We have audited the financial statements of Age UK Coventry and Watwickshire {the 'parent charitable company'l and its subsidiary {the 'group'l for the year ended 31 March 2024 which comprise the Consolidated Statement of Financial ActÉvities, the Consolidated Balance Sheet, the Consolidated Staternent of Cash Flows and Note5 to the Financial Statements, including signif icant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Finuncial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdorn Generally Accepted Accounting Practice). In our opinion the financial statements- give a true and fair view of the state of the group's and parent charitable companW5 affairs as at 31 March 2024, and of the group's incoming resources and application of resources, including its income and expenditure, for the yearthen ended,. have been properly prepared in accOrdanwith United Kingdom GenerallyAccepted Accounting Practice,. and have been prepared in accordance with the requirements of the Charitie5 Act 2011. Basls for oplnion We conducted our audit in accordance with International Standards on Auditing (UK} IISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor'5 responsibilities for the audit of the financlal statements section of our report. We are independent of the group and parent charitable company in accordan with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and approprlate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's or charitable companws ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilitS of the trustees wlth respect to going concern are described in the relevant sectlons of this report. 17 Registered Charity Number 109(K107 Company Registration Number 4221822
Age UK Coventry and Wanvickshire Year ended 31 March 2024 The trustee5' views on going concern are disclosed in note 2 of the notes to the financial statements. Other information The other information comprises the information induded in the Report of the Directorsftrustees, other than the financial statements and our auditorfs report thereon. The trustees are responsible for the other information contalned within the Report of the Directorsnrustees. Our opinlon on the financial statements does not cover the other information and. except to the extent otherwise explicitly stated in our report. we do not express any form of assuran conclusion thereon. Our responsibiltty is to read the other information and, in doing so, consider whether the other information is materially Inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material Inconsistencies or apparent material misstatements. we are required to determine whether this gives rise to a material misstatement in the financial Statements themselves. If, based on the work we have performed, we conclude that there 15 a material rnisstatement of this other information, we are required to report that fact. We have nothing to report in thls regard. Matters on which we are required to report by exception We have nothlng to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our oplnion: the information given in the financial statements is inconsistent in any material respert with the Report of the Directorsnrustees,. or the parent charitable company has not kept adequate accounting records: or the flnancial staternents are not in agreement with the accounting records and return5,' or we have not received all the infomiation and explanations we require for our audit. Responslbilities of trustees As explained more fully in the trustee5' responsibilities statement set out on page 16, the trustees (who are also the directors of the parent charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements. the trustees are responsiblefor assessing the group's and parent charit8 ble compantys ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the goinE concern basis of accounting unless the trustees either irFtend to liquidate the group or parent charitable company or to cease operations, or have no realistic alternative but to do so. 18 Registered Charity Number 1090007 Company ReEiStration Number4221822
Age UK Coventry and Warwickshire Yearended 31 March 2024 Audltorfs responsibilities for the audit of the financial Statements We have been appointed a5 audltor under section 151 of the Charities Act 2011 and report In accordance with this Act. Our objectives are to obtain reasonable assurance about whether the financial statements as 2 whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS {UKI will always detect a rnaterial misstatement when it exists. Misstatements can arise frorn fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to Influence the economlc decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misSt3tements in respect of irregularities. including fraud. The extent to which our procedures are capable of detectlng irreEuSarities, includirbg fraud is detalled below: The audit process includes an assessment of the entity's and group's risk environment, through enquiry of and discussion with management and those charged with governance, including an assessment of any key laws and regulations withwhichthe group and parentcharitable company must cornply in the ordinary course of its operations. Additionally, the overall risks of irregular transactions occurring are assessed following our obseNations and confirrnation of the design and implementation of management's controls. Whllst we a re mindful of these risks, our audit focus is geared towards the risk of material misstatement in the financial statements as a whole. As such, our procedures cannot guarantee that all transactions have been fully compliant with all relevant laws and regulations, including those regulations relating to fraud, as our procedures are not designed to detect all instances of non-compliance. By definition, the risk of our detection of non- compllance is greater where compliance with a law or regulation is removed from the events and transactions reflected in the financial statements. The risk is also greater regarding irregularities due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Flnanclal Reportlng Council's website at: htt www.frc.o auditors audit-a55urance auditor-s- res onsibillties-for-the-audit-of-the-fi descri tion-of-the-auditor's-res onsibilities-for. This descriptton forms part of our auditovs report. 19 Registered Charity Number 1090007 Company Registration Number4221822
Age UK Coventry and Wanvickshire Year ended 31 March 2024 Use of our report This report Is made solely to the charitable companvs trustees, as a body, in accordance with Part 4 of the Charities IAccounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable companWs trustees those matters we are required to state to them in an audito¢s report and for rbo other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charttable companvs trustees as a body, forour audit work, forthis report, orforthe opinlons we have formed. Hairison Beale & Owen Limited Chartered Accountants and Statutory Auditors Highdown House 11 Highdown Road Leamington Spa CV31 IKr Date.. 11 S6fttW Harrison Beale & Owen Limited is eligible to act as an auditor in tem)s of section 1212 of the Companies Act 2006. 20 Registered Charity Number 1090007 Company Registration Number 4221822
Age UK Coventry and Wanutckshire Consolidated Statement of Financial Activities (IncoOratIng the income and expenditure account) forthe year ended 31 March 2024 Unre5trlcted General DlEnated Fund5 FU$ 2W14 2024 £0 Restricted Last Year Funds Totsl Funds Total Funds 2024 2024 2023 £000 £000 £000 Notes Income Donotlons ondlegorJes Donations and gtfts Lewdcies 72 23 69 48 23 Other Imdkng actfvltles shop Income Trading aCtitIéS Othei Income 1,970 703 22 1.970 703 22 1,644 679 17 Itment Income 37 37 15 IntomgArom tharknble urtlvltles ca services Soclal Incluslon Information and advice Other cForitaNe incorne 121 35 562 35 276 662 744 27 242 619 276 14 648 Total incoming fvsources 3,631 731 4,362 4,104 Expenditure RalslngAunLts Chaiitable adivities 2.715 978 15 644 2,730 1,622 2,469 1.752 Total resaurces expended 3.693 659 4,352 4,221 Golns/{lossJ on Investtnent ossets Realised Unrealised iii iii 1311 Net incomellexpendlturel 1601 72 12 {1491 Transters between funds 36 1361 Net movement In funds (241 36 12 {1491 Fund balon5 broughtfonvord 19.2Q 670 3,474 3,623 Fundbolonces cfjrriedfvnvord 19,20 940 706 3.486 3,474 The Consolidated Statement of Finanaal ActNities includes all gains and losses in the year. All incoming resources and resources expended dertve from continuing artTrvities. 21 Reglstered Charity Number 1090tX17 Company Registration Number 4221822
Age UK Coventry and Warwickshi Consolldated and Company Balance Sheets as at 31 March 2024 Group 2024 £000 Company 2024 £000 Note5 2023 £000 2023 £000 Fixed assets TarTrglble assets Investments Totolfued assets 14 391 242 391 242 633 436 233 669 233 669 633 Currenl assets Stocks Debtor5 Cash at bank and In hand Totalcurrent ossets 16 17 329 3.053 3?84 320 2332 3.255 333 3.053 3A88 324 2,932 3.259 Current Ilabllhles Amounts falllnE due wltlrfn one year 18 311 (4501 35) {454) Net current assets 2A53 2.805 2.853 1805 NotAssets 1486 3,474 3.486 3.474 Funds Restrleted funds 670 706 670 Unre5trkted General funds Designated funds Total unrestrlcted funds 940 1,840 2,780 964 1,840 2004 1.840 2004 2,780 Totsl fund5 3,486 3.474 3,474 The financlal statements on pages 21 to 48 were approved by the Board of Trustees, authorlsed for Issue and slgned on Its behalf by: Laurence Tennant Treasurer Date: 17th September 2024 22 Registered Charity Number 109LK)07 Company Reglstration Number4221822
Age UK Coventry and Warwickshire Consolidated Statement of Cash Flows for the year end 31 March 2024 Notes 2024 Z023 Éooo £000 Reconcilliation of net movement of funds to cash flows from operating activities: Net incorne/lexpendlturel Adjustment5 for: Depreciation Investment income {Gainslnosses on investments Investment fees {1 ncreasel/decrea5e in stock and work in progress Decrease in debtor5 Increase in creditors Net Cash geneTated from operating activitles 12 11491 57 {371 121 si 1151 32 iii 107 27 52 {91 81 103 Cash Flow Statement Cash flows from operating activities Cash flows from investing actwlties Purchase of plant, property and equipment Net purchase and disposal of fixed asset investments I nvestment income Net Cash used in the year 103 52 1121 171 37 (371 129} 15 121 Net increase In cash in the year Change in net funds arising from cash flows 121 121 Cash & Cash equivalents at l April 2023 Change in cash and cash equivalents in the reFX)rting period Cash & Cash equivalents at 31 March 2024 2,932 121 3.053 2,931 2,932 23 Registered Charity Number 1090(X)7 Company Registration Number 4221822
Age UK Coventry and Warwickshire Notes to the Financial Statements for the year ended 31 March 2024 l. Statutory Information The Charity is a company limited by guarantee and incorporated in England and Wales. The members of the company are the trustees who are also the directors. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The charitable companws registered numbers and registered address can befound in theTrustees Report. 2, Accounting Policies Basis of preparing the financial statements The financial statements of the charitable company. which15 a public benefit entity under FRS 102, have been prepared in accordance wtth the Charities SORP IFRS 102) 'Accounting and Reporting by Charities,. Statement of Recommended Practice applicable to charrties preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffertive l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable In the UK and Republic of Ireland. and the Companies Act 2CK)6. The financial statements have been prepared under the historical cost convention. wlth the exception of investments which are included at market value. as modified by the revaluation of certain assets. Age UK Coventry and Warwickshire fulfils the crtteria of a public beneflt entity a5 defined by FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notel51. The accounting policies applied in the preparation of these financial staternents are set out below and have remained unchanged from the previous year. Slgnifitant accounting judgements and estlmates In the applicatlon of the charitable group and company'5 accounting policies, the directors are required to make judgements, estimate5 and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accountinE estimates are recognised in the period in which the estimate is revised, where the revision affects only that period. or in the period of the revision and future periods where the revision affects both current and fLrture periods. The company makes estimates and assumptions concerning the future. The resultirkg accounting estimates will, by definition, seldom equal the related actual results. There are no estimates and assumptlons that have a sÉgnificant risk of causing a material adjustment to the carrying amounts of assets and liabilities wÈihin the next financial year. 24 Registered Charity Number 1091x107 Company Registration Number 4221822
Age UK Coventry and Warwickshire Notes to the Financial Statements forthe year ended 31 March 2024 Group financial statements These financial statements consolidate the results of the charity and tts wholly owned subsidiaries., Age UK Coventry & Warwickshire {Tradingl Limited and Age UK Coventry (Trading) Limited, on a line by line basis. A separate Statement of Financial Activities, or income and expenditure account, for the charity itself is not presented because the charity has taken advantage of the exemptions afforded by section 408 of the Companies Act 2006 and paragraph 397 ofthe SORP. Incoming resources All incoming resources are included on the Statement of Financial Activitie5 when the charity is lega Ily entitled to the income, has entitlement to the funds and it is probable that the income will be received and the amount can be quantified with reasonable accuracy. The following specific policles are applied to particular categories of income. Voluntary Income is received by way of grants, donation5, gtfts and legacies and are included In full in the Statement of Flnancial Activities when receivable. Incoming resources from grants, where related to perfomiance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance. Grants, where entltlement is not conditional on the delivery of a specific perf0rrnan by the charlty, are recognised when the charity becomes unconditionally entitled to the grant. On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equrvalent economic benefit on the open Market; a corresponding amount 15 then recognised in expenditure in the period of receipt. The value of service5 provided by volunteers is not incorporated into these financial statements. Further details of the contribution made by volunteers can be found in the Trustees, Report. Income from donated goods Is recognised on sale of the goods. The charity believes it is impractical to measure fairvalue of good5 donated for resale and that the costs of doing so would outweigh the benefit to users of the financial statements, in accordance with paragraph 6.10 of the Charity SORP FRSIO2. For legacies, entitlement is taken as the earlier of the date on which etther. the charity is aware that probate has been granted, the estate ha5 been finalised and notrfication ha5 been made bv the executorlsl to the charity that distribution will be made,. or when a distribution is received from the estate. Recelpt of a legary. in whole or in part, is On consldered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a dlstribution. Where legacies have been notified to the charity, or the charity aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if rnaterial. Interest on funds held on deposit is included when receFvable by the chartty and can be rneasured reliably by the charity- this is normally upon notification of the interest paid or payable by the bank. 25 Registered Charity Number 1090007 Corllpany Registration Number 4221822
Age UK Coventry and Warwickshire Notes to the Financial Statements for the year ended 31 March 2024 Income received in advance of performance conditions having being met. or other specified service is deferred until the criteria for incorne recognition are met. Such income is only deferred when,, the donor specifies that the grant or donatlon must be LEsed In future accounting periods, or. otherwise, the donor has imposed conditions which must be met before the charity has unconditional entitlement. Resources expended Liabilities are recognised as expenditure, including non-recoverable VAT, as soon as there is legal or constructive obligation commttting the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the atnount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basls and has been classified under headings that aggregate all cost related to the category. Where costs cannot be direct attributed to particular headings they have been allocated to activities on a basis conststent wtth the use of resources. Costs of raising funds comprise the costs associated with attracting voluntary income and the costs of fundraising events. Charltable expendlture comprises those costs incurred by the charity in the delivery of activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Support Costs include central functions and have been allocated to activity cost categorles on a basis consistent with the use of resour5, e.g.: allocating property costs by areas, or per capita, staff costs bythe time spent and other costs by their usage. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic managernent of the charity. Fund accounting Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds are unrestricted funds that have been set aside by the trustees for particular purposes to be used within the charity. Restrlcted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when fund5 are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 26 Registered Charity Nijmber 1090007 Company Registration Nurnber 4221822
Age UK Coventry and Warwickshire Notes to the Financial Statements for the year ended 31 March 2024 Tanglble fixed assets Depreclatlon is provided at the following annual rates in order to write off each a55et over its estimated useful Ilfe: Refurbishment of shop property 5- 6 years on cost Properties 25- 50 years on cost Computerequipment 3- 4 years on cost Other equipment and furniture 4- 10 year5 on cost Motor vehicles 4 years on cost Any equipment costing less than £l,CKiO per individual ttem 15 wrrtten off in the period of acquisition. All other equipment and assets are capitalised at cost. Investments All listed investments are shown on the balance sheet and are held at fair value, valued at their mid-market value as at the balance sheet date. in accordance with the investment portfolio in whlch they relate. Changes in fair value are recognised in the Statement of Financial Activities in the period in which they arise, Unlisted investments are 100% shareholdings held in trading subsldlarles, which are held at cost less irnpairment. Taxation The charity is exempt from tax on income and gains falling wlthin sectlon 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Att 1992 to the extent that these are applied to its charttable objects. Stocks Stocks are included at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Debtors and creditors receivable I payable within one year Debtors and creditors with no stated interest rate and recelvable or payable within one year are recorded at transaction price. Any losses arising from impalm)ent are recognised in expenditure. Cash at bank and in hand Cash held at bank or in hand, includes cash and short term highly liquid investments with a short maturlty of three months or less from the date of acqulsition or opening of the deposit or similar account. 27 Registered Charity Number 1090007 Company Registration Number 4221822
Age UK Coventry and Wanvickshire Notes to the Finantlal Statements for the year ended 31 March 2024 Financial instruments Loans and borrowings are initially recognised at the transartion price including transaction costs. Subsequently, they are measured at amortised cost, usingthe effective interest rate method, less impairment. Provisions Provisions are reco8nised when the charity has an obligation at the balance sheet date as a result of a past event, It is prDbable that an outflow of economic beneftt will be required in settlement and the amount can be reliably estirnated. Provision5 are charged as an expense to the Consolidated Statement of Financial Activities in the yearthat the Group becomes aware of the obligation, and are measured at a reliable best estimate at the balance sheet date. that it will require to settle the obligation, taking into account relevarit risks and uncertainties. Operating leases Rentals payable under operating leases are charged in the Statement of Financial Activities as they are incurred. Redundancy costs Following the accrual accounting methodology, liabilities for redundancy and termination payments are recognised when the obligation to make the payment ari5e5 and not when the payments are made. Holiday pay accrual A liability is recognised as an expense in the Consolidated Profit and Loss Account when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. Pension scheme The charity participates in a defined contribution pension scheme adrninistered externallv. Membership of the scheme is open to all employees satisfying the qualifying condltions. The pension costs in the yearcan be seen in the staff costs note. Pension costs are split between the projects, restricted and unrestricted, according to the split of wages costs. Going concern As with m05t charitie5, the trustees are mindful of the uncertain timing of incoming resources such as legacy income, being of an vnpredictable nature. At the time of approving the financial 28 Registered Charity Number 1090007 Company Registration Number 4221822
Age UK Coventry and Warwlckshlre Notes to the Financial Statements for the year ended 31 March 2024 staternents, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 29 Registered Charity Number 109IJ)07 Company Registiation Number 4221822
Age UK Coventry and Warwickshire Notes to the Financial Statements for the year ended 31 March 2024 3 Donatlons and Legacles Unrestricted General Designated Restrkted Last Year Funds Funds Funds Total Funds Totdl Funds 2024 2024 2024 2023 Éooo 2024 £000 £000 £000 Donatlons and giants Age UK 29th May 1961 Charitable Trust Sundry income General Donations 43 43 15 23 23 72 69 Legacies Greta Shakleton Helen Dalton Dunkley Mr Peter Brett Eric Williams joy RoTrsemary Drew Watson Wasser Mr Eric Williams Mr Thomas Kir 19 19 33 io 23 23 48 Total donatlons and lega¢les 95 95 117 30 Registered Charty Number 1090007 Company Registration Number4221822
Age UK Coventry and Warwickshire Notes to the Financial Statements for the year ended 31 Marth 2024 4 Othertrading activities Unrestrkted General Designated Funds Funds 2024 2024 £OL £OL Restrlcled Last Year Funds Total Funds Totsl Funds 2024 2024 2023 EOOO £ooD £000 Money ManaBement SeNi 703 703 619 703 679 Other trading activtties comprise the Money Management Servlces, which was transferred from Age UK Coventry (Trading) Ltd into the charitable company on l April 2021. 5 other Income Unrestricted General Deslgnated Restricted Last Year Funds Funds Funds Total Funds Total Funds 2024 2024 2024 2024 2023 £000 £000 £000 £000 Rentsl income 22 22 17 17 22 22 6 Investment income ilnrestrtcted General Designated Funds Funds 2024 2024 £000 £ootb Re5trlcted Last Year Funds Total Funds Total Funds 2024 2024 2023 £000 £000 £000 Interest recelved DlviderKls receed 28 28 37 37 15 31 Registered Charity Number 1090007 Company Registration Number4221822
Age UK Coventry and Wanvlckshire Notes to the Financial Statements for the year ended 31 March 2024 7 Income from Charltsble activities Unrestri¢tsd General Designated ReStted Last Year Funds Funds Funds Total Funds Total Funds 2024 2024 2024 2024 2023 £000 £000 £000 £000 £000 Care SeNlces Warwickshire County Council Social Prescrilxng Pfimarycare Network Coventry & Warwickshire PartnerslipTrust Age UK National Miscellaneous grants and donatio Coventry Buil(l50c4ety Fees chaiged to cltents 241 241 227 140 57 175 13 140 21 21 43 17 17 loo 35 94 744 loo 121 41 562 Social Incluslon MiscellaneousEranls and donatior 35 35 35 35 27 27 Infomiation and Advice Coventry City COU1[ Age UK National Miscellaneous gfants and donatio 195 78 195 195 32 15 242 78 276 276 Other Charitsble Ir¥come Helping Hands and Home SupKK>rt 648 648 14 14 662 662 619 619 Total income from Chadtable activitte5 804 731 1,535 1,632 32 Registered Charity Number 1090007 Company Registration Number 4221822
Age UK Coventry and Warwtckshire Notes to the Financial Statements for the year ended 31 March 2024 8 Expenditure Unre5tr1cted General DeslgnatÈd Restrlcted Last Year Funds Funds Fund5 Total Funds Total Funds 2024 2024 2024 2024 2023 £000 £000 £000 £000 Cost of ralslng fund5 Generatingvoluntary income Shop trading Trading actvities OtrseeeS 15 17 1,857 559 26 I57 559 297 2.715 1,727 462 254 1,469 297 2,730 15 Cost of charitable activities Care Serwices Social IFKIu5ion lrnfomatlon and Advfjce Hel@ Hands 221 46 401 622 46 229 725 1.622 710 76 246 720 1.752 229 711 978 14 644 Total resources expendèd 3.693 659 4,352 4,221 33 Registered Charity Number 1090007 Company Registration Number 4221822
Age UK Coventry and Warwtckshire Notes to the Financial Statements for the year ended 31 Mah 2024 9 Support Costs Support Costs 2024 Direct Costs 2024 Total 2024 £000 Total 2023 £000 Cost of raising funds Generatingvoluntary income Shop trading Trading actvities Other services 16 1,564 470 297 2,347 16 1,857 559 297 2,729 26 1,727 462 254 2,469 293 89 382 Cost of charitable activities Care Serces Social Inclusion Information and Advice Helping Han(Is 474 46 188 584 1,292 622 46 229 725 710 76 246 720 41 141 330 1,622 1,752 Total resourtes expended 3,639 712 4,351 4,221 10 Net (Èncome)/expenditure 2024 £000 2023 £000 Net {incomel/expenditure is stated after chargingjlcreditingl Auditors remuneration Depreciation of tangible fixed assets Amounts receivable under operating leases Amounts payable under operating leases 18 23 51 1171 433 57 122) 471 34 Registered Charity Number 1090007 Company Registration Number 4221822
Age UK Coventry and Warwickshire Note5 to the Financial Statements for the year ended 31 March 2024 11 Staff Costs 2024 2023 The average number of persons employed findudlng casual and part time staff) ¢*Jring the year was.. Management. 3dmInistratn and finance Activities for generating funds Charitable uctivities Care seNices Social inclusion Informatlon and advice 34 56 34 53 138 118 235 214 The average number of full time equlvalents employed {Includlng casual and part time staff) during the year Wds: Management, admlnistratlon and finance Activities for gener3tin8 fLmds Charitable artl¥kles Care services Social inclusion Information arKI advice 27 36 27 35 40 42 IC19 iii 2024 £000 2023 £000 Salaries and wages National Insurance Pensions contribution5 2,648 156 93 2.897 2,579 152 86 2,817 Ntjmber of employees whose emoluments (excluding employer's pension contributions and employevs National Insurance) fell with the following bands 2024 2023 £60,001 to £70,000 £70,001 to £80,000 £80,001 to £90,000 35 Registered Charity Number 1090007 Company Registration Number 4221822
Age UK Coventry and Wanvickshire Notes to the Financial Statements for the year ended 31 March 2024 The key management of the charity comprises the Trustees, Chief Executive, Director of Operations and Director of Seryices. The total employee benefits of these were £229k12023: £274k}. 12. Trustee5 Remuneration None of the trustees received any remuneration from the company dLEring the year12023: £Nill, and no expenses were reimbursed for travel and subsistence12023: £Nil). Trustees made £Nil donations to Age UK Coventry & Warwickshire duringthe year (2023.. £Nil). 13. Taxation No liability to UK Corporation Tax arose for the current year {2023: £Nill. 36 Registered Charfty Number 1090007 Company Registration Number4221822
Age UK Coventry and Warwickshire Notes to the Financial Statements for the year ended 31 March 2024 14 T3nglble Fixed Assets Freehold Computers land and and buildings equipment £000 £000 Motor vehicles £000 Groyp Total £000 Cost At l Aprll 2023 Additions At 31 Ivlarch 2024 985 534 35 1554 12 1.566 993 538 35 Depreclation At IApril 2023 Charge At31 March 2024 606 35 477 22 499 35 1,118 57 1,175 35 Net book value At31 March 2024 At l April 2023 352 39 391 436 379 57 Freehold Compute land and and buildings equipment £000 £0 Motor vehlcles £000 Company Total £000 Cost At l April 2023 Additions Disposals At 31 March 2024 985 534 35 1554 12 993 538 35 1,566 Depreclation At l April 2023 Chaige Disposals At31 March 2024 606 35 477 22 35 1,118 57 641 499 35 1,175 Net book value At 31 March 2024 At l Aprll 2023 352 39 391 436 379 57 37 Registered CharTrty Number 1090007 Company Registration Number 4221822
Age UK Coventry and Warwickshire Notes to the Financial Statements for the year ended 31 March 2024 15 Fixed Asset Investments 2024 2023 £000 £000 Valuatlon Market value at l April 2023 Additions Disposals Realised losses Unrealised gains/llosses} Marketvalue at 31 March 2a24 233 39 1321 iii 236 44 1151 iii 1311 233 242 Historical cost Fixed Asset Investments are represented by. Fixed interest securities Equity shares Investment trusts and unit trusts 86 84 87 138 233 72 242 16 Stock Group 2024 Company 2024 £000 2023 £000 2023 £000 £000 Goods for resale 38 Registered Charity Number 10901K)7 Company Registration Number4221822
Age UK Coventry and WaNickshire Notes to the Financial Statements for the year ended 31 March 2024 17 Debtors Group 2024 Companv 2024 2023 2023 £000 £000 £000 £000 Trdde debtors Amounts owed from subsidlary Prepayments and accrued income 239 240 239 240 90 80 80 329 320 333 324 IS Credltors: amounts falling due withln one year Group 2024 Company 2024 £000 2023 2023 £0 £000 £000 Trdde creditors Accruals Deferred income Other creditors Other taxation and social securtty 51 407 55 407 33 33 49 333 333 33 33 26 39 450 26 39 454 531 535 39 Registered Charlty Number 1090007 Company Registration Number4221822
Age UK Coventry and Warwlckshire Notes to the Financial Statements for the year ended 31 March 2024 19 Unrestricted Funds Funds at 31 Marth 2024 Fundsat I Incoming Outgoing April 2023 Resources Resources Transfers £0 £000 £000 £000 £000 Genernl funds 964 3,631 13.6911 36 940 Designated funds Retail Development Finance System Upgrade CRM System Upgrade Premlse Improvements IT Hardware and Equipment Senrice Deliveroffer in Borough Council Areas Develop Maintenance Cognitive Stimulation Therapy IMCST) Servlce 440 50 12S 440 50 125 800 25 250 150 250 150 Total designated funds L840 1.840 General Fund The general funds are free reserves of the charity to be applied at the discretion of the trustees for any of its charitable purposes. Designated Funds These are free reserves of the charity representing assurance to future expenditure, regarded by the trustees as essential to the ongoing work of the charity, albeit at this stage without any binding commitment. Followin£ the launch of the new strategic plan 2022-2025, a review of Designated Funds was undertaken In the prior year and in line with the plan. new designated funds were identified. These included: Retail Development- £440K Tofurther the charity's retoilportfolio by opening lorger shops and enhoncing environment of our existing shops. Finance System Upgrade - £50K To extend the charity'sfinancial system to all artivitie5 Wlthin the charity, including Money Munagement Service 40 Registered Charity Number 1090(KJ7 Company Registration Number4221822
Age UK Coventry and Wanlehlre Notes to the Flnanclal Statements for the year ended 31 March 2024 Customer Relotionship Manogement (CRM) System Uporode- £125K To upgrade the charlS CRM 50ftwure to enoble growth within all services Premises Improvements- £8OOK To Investment in the premises owned by the charity. ITHardware and Equipment- £25K To contlnue investing in mobile technology to assist with changes to working environments. servi Delivery offer in Borough CouncilAreus- £250K To develop and expGndservice5 Wlth specific locolity. Develop Malntenonce Cognitive Stimulotion Therapy {MCST) Service - £150K To continue expanding on the exlstlng model with contributionfrom service users. 41 Registered Charity Number 1090007 Company ReElStiation Number 4221822
Age UK Coventy and Warwickshire Notes to the Financial Statements for the year ended 31 March 2024 20 Restrlcted Funds Fund5 at 31 March 2024 £000 Functs at I Incoming Outgolng April 2023 Resources Resources Transfers £O(M) £000 £000 Care sens Housing options Care navigators inc HIU and PCN Rugbygarden fund Coventry BS Befriending & Counselling Dementia Day SeNices IDDOI Dfx) Warwick & Henley Fund Total Care Servi¢es 49 49 225 140 11051 33 17 282 1171 12791 1331 131 283 439 14011 (36) 285 Sociallncluslon Vehicle funds Dementia cafés Milan Men in Sheds Morrison's Healthy Cooklng Total Soclal Inclusion 37 37 46 Inf0MtIOn & Advke Warwick District Council I&A Total Information & Advice 36 278 278 12291 (2291 85 36 85 Other Charitable thcome Home Support Total Other Charttable income 14 {14) 1141 14 42 Registered Charity Number 1090007 Company Registration Number4221822
Age UK Coventry and Warwickshire Notes to the Flnancial Statements for the year ended 31 March 2024 20 Restricted Funds Icontl Funds at 31 March Fund5 at I Incoming Outgolng Aprll 2023 Resources Resources Transfers £000 £000 £000 £000 2024 £000 Other Restrlrted Funds Building fund apal The Crjmmunity fund Rugby Claremont Centre F&F Home Supp)rt- V Dickinson Bursaries Projects In Wellesboume Rugby development project Baron Davenport fund Edna Vincent fund Grants for the El¢krty in Need Restricted donations & legacies Total other restricted funds 18 49 121 {13) 49 119 40 12) 40 13 13 21 32 305 21 32 290 151 Total Restricted funds 670 731 6591 1361 706 Care Servlces The Care Services teams provide support services either in a Day Care setting or directly in clients, homes. These services can include general support around th ehome; shopping,. emotional support,. repairs and adaptations; giving carers a break. A range of physical activities to promote healthy ageing are also organised in local communityvenues. Social Incluslon The Social Inclusion teams support and develop a network of social activities, clubs, lunch clubs, and centres through the county. Transport and opportunities for volunteers to participate in a range of activities are also available. Training and encouraging people adopt healthier lifestyles and 5LlPPOrting people are also provided. Information and Advice A servlce delivered by local teams, responding to telephone and personal enquiries on age related topics. Where there are more complex queries, dients are referred to the Advocay SeNice for more specialised support. The services help peopleto make informed choices. 43 Registered Charity Number 1090007 Compally Registration Number 4221822
Age UK Coventry and Warwickshire Notes to the Financial Statements forthe year ended 31 March 2024 Other Buildingfund appeal Grants and donations fol]owing a building fund appeal for the Head Office. The Communityfund Big Lottery grant to support the redevelopment fund of Rugby property. Rugby Claremont Centre Lottery grant to SUPPOrt the the redevelopment fund of the Claremont Centre. Home Support- V Dickinson A legacy to develop the Home Suport SeNiS in the Leamington Spa area. Bursaries A fund established by the George Cadbury Charitable Trust and other donations to assist employees Wlth the cost of training for work related professional qualification5. Projects in Welle5bourne A legacy received to develop age related service5 in Wellesboume Rugby Development Project A fund established to develop age related services in Rugby. 5(7ron Dovenportfund This fund provides grants to single women in need. Edna Vincentfund This fund provides grants to indtviduals living in the west of the city. Grantsfor the Elderly In Need Thls fund supports older people faclng acute financial hardship. Restricted Donations and legocies This relates to various donations and legacies received over several years which are being spent in line with the terms of the wills or specific documentation. 44 Registered Charity Number 1090007 Company Registration Number 4221822
Age UK Coventry and Warwickshire Note5 to the Financial Statements forthe year ended 31 March 2024 21 Analysls of Net Assets by Fund UnrestrKted General Deslgnated Restrlcted Funds Funds Funds Totsl Funds 2024 2024 2024 2024 £000 £000 £000 £000 Tangible fixed assets Fixed asset investments Net Current assets 144 242 554 940 75 172 391 242 2A53 3,486 1,765 1,840 $34 706 22 Tradlng actlvltles of subsidiary undertaklngs Age UK Coventry (Trading) Limited The Principle actlvlty of the company is that of the prov15ion of Money Management 5eNices for the elderly. This operation was transferred to Age UK Coventry and Warwickshire on l Aprll 2021. Age UK Coventry aThl Warwickshire owns 100% of the shares. The company was dissolved and struck off in April 2024. 2024 2023 Balance Sheet Net Assets Represented by- Shares held in the company- £1 ordinary shares Age UK Coventry & Warwickshire (Tradlng) Llmited formerty Age UK Warwlckshire (Trading) Limited Age UK Coventry & Wanmickshire (Trading) Limited is deemed to be a discontinued and dormant operatlon. 2Q24 2023 Balance Sheet Net Assets Represented by: Shares held in the company.. Él ordinary shares 45 Registered Charity Number 1090007 Company ReEiStration Number 4221822
Age UK Coventry and Warwickshire Notes to the Flnancial Statements for the year ended 31 March 2024 Profits generated by the above wholly owned trading subsidiaries have historically been donated to the parent charitable company each year by means of gift aid, to increase the aggregate capltal and reserves within the charty each year. From l Aprll 2021, all operations in Age UK Coventry (Trading) Limtted were moved across to the parent charitable company, and such profrts will no longer need to be gift aided. 23 Guarantees and Otheryinancial Commttments As at 31 March 2024, the group had annual commrtments based on minimum lease payments- Land and bullding5 2024 2023 £000 £000 Other operating leases 2024 2023 £000 £000 Within one year Between one and five years in over five years 307 134 85 526 454 315 773 46 Reglstered Charity Number 1090007 Company Registration Number 4221822
Age UK Coventry and Warwickshire Notes to the Financial Statements for the year ended 31 March 2024 24. Related Party disclosures Advantage has been taken of the FRS 102 exemption from disclosure of intergroup transactions. Proftts generated within the subsidiary trading company have historically been donated to the parent charitable company as at the year by means of gift aid, to increase the aggregate capital and reserves withln the charity each year. From l April 2021, and all operations in the trading company have moved across to the parent charitable company, and such profit5 will no longer need to be glft aided, 25. Appointeeship During the year, the company operated Money Management Services scheme5 including a contract with Coventry Cty Council to run an Appointeeship Scheme for Older Persons and Vulnerable Adults. The financial aspects of the scheme operate separately from the rest of Age UK Coventry & Warwlckshire and are not included within these accounts. As at 31 March 2024. the monies held on behalf of and dueto clients in the Money Management Schemes amounted to £7,031k {2023: £6,899k). These moniesare all held in individually separate client bank account5. 26. Pension Commitments The company pald pension contrlbutions into individual pension schemes on behalf of certain employees. The assets of each scheme are held separately from those of the cornpany in independently administered funds. Contributions are charged to the Statement of Financial Activities as they become payable in accordance with the rules of the scheme. 27. Transfer between funds Transfer between funds in the financial year related to servi5 that had ceased, projects that had cIosed/ended and the redesiEnation of some historic funds following review undertaken by management and Trustees to reflert the present and future needs of the charity. 47 Registered Charity Number 1091XJ07 Company Registration Number 4221822
Age LIK Coventry and Warwickshire Notes to the Financial Statements for the year ended 31 March 2024 28 Consolidated Statement of Financial Artivities (incorporating the income and expenditure account) for the year end 31 March 2023 Unrestricted General Des5gnated Restricted Funds Funds Funds Total Funds 2023 2023 2023 2023 £000 Notes £0 EOOO Income Donotions and legudes Donètions and gifts Legacie5 69 69 48 48 Othertroding activities Shop income Trading actiwtles Other income 1,644 679 679 17 17 Investmentincome 15 15 Incomefrom djurltoble uctlvitles Care services Social inclusion Information and advice Other charitable income 94 650 27 744 27 242 16 242 619 fo3 Total incoming rèso(Er£Ès 3.169 935 4,104 Expenditure Ralslngfurxts (ljorltable tsrtlvitles 2A53 767 14 2,469 1,752 Total resources expended 3.220 999 4,221 Guins/110ssJ on inve5tmentaSsets Realised Unrealised iii 1311 iii 1311 Net Intomel{expendlturel {831 121 164) 11491 Transfers tween fLmds (6751 817 11421 Net movement in furkds {7581 815 {206) 11491 Fundbalonces broughtforwardat l Apn'l 2022 L722 1.025 876 3,623 Fund bolances corriedfonvard at31 Murth 2023 964 1,840 6YO 3.474 48 Registered Charity Number 1090007 Company Registration Number4221822