us6 Shrops TelFord ageL Age UK Shropshire Telfor( 3 Mardol Garden Shrewsbuty SYI 1PR Telephone: 01743 23; .ageukshroDshireanutell jrf[IM Day centres Our volunteers received recognition from the High Sherriff of Shropshire - - - - - - - - - - - - - - - - -   - - - - - - - - - - - - - - - -   - -     - -     - - - - - - - - - - - - - - **----- Start of picture text -----**
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- -     -     - - - - - - - - - - - -      Support for carers Our staff and volunteers made regular telephone calls   ## -             - - - K SHROP HIRE TELF RD WREKIN STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021 Unrestricted Funds Restricted Funds Nole¥ Total 2021 Totsl 2020 ome Donations, Grfts & Legacies Fundraising and Events 50,911 67,973 19.324 70.235 68,173 71,817 Income from charrtable actI￿t￿$ Grants 610,067 987.814 1.597,881 1,38S,716 Client Fees {Living Well, Diamond Dernents"a & Help @ Homel 950,049 15531 949,496 1,032.737 Income from other tradin Retail Income other Income aCtiVrt￿S 50,550 26,986 50.550 47.083 164,807 18,666 20.097 Investment 12 13,870 13.870 20,713 Totsl Incom 1,770,406 1,026.882 2,797,288 2,694,456 nditure Fundraising trading." costs of fundraising and retail 185,916 185,916 242,512 Charitable activities 1,479,842 952.680 2.432.522 2,427,058 Total expenditure 1,665.758 952.680 2.618.438 2.669,570 Gains I Ilosse$l M investment assets 68,038 68.038 (10,862) Nel in¢omellexpenditurel before other recognised gains and losses 172,686 74,202 246,888 14,024 Transfers betsveen fvnds Actuarial gainslllos5es) on defined benefit pension scheme 2,404 <2.4041 113,000 113.C(iO {140,000) Nel movement in funds 288,090 71,798 359,888 1125,9761 Total funds brought foThvard 694,964 299.042 994.C(16 1,119,982 Totsl funds carried forward 983,054 370,840 1,353,894 994,006 The statement of financkql activities indudes all gains and losses recognised in the year. 42 AGE UK SHROPSHIRE TELFORD & WREKIN BALANCE SHEET AS AT 31 MARCH 2021 NOTES 2021 2020 FIXED ASSErs Tan9ible As5els Investments 42,135 402,254 38,524 334,216 TOTAL FIXED ASSETS 444,389 372,740 CURRENT ASSETS Slccks Debtors Cash at Bank and in Hand 26,120 134.209 1.350,264 26,157 110,039 1.141.829 TOTAL CURRENT ASSETS 1.510.593 1.278.025 LIABILITIES Creditors Amounts Falling t)ue Within One Year 169,088 144.759 1.341.505 1,133,266 TAL SETS S CURRENT LIABILrriES 1,785.894 1,506,006 Defined Benefit penS￿n Liabilty 17 432.C 512,000 TOTAL NEf ASSETS 1,353,894 994,006 THE FUNDS OF THE CHARITY DesMJnaled Funds Unrestricted Funds 729,199 253.855 623,760 71,204 Total Unfestricled Funds 983.1)54 694,964 Restricted Funds 370.840 299,042 Total Funds 1.353,894 994,006 These financial ststements have been prepared In accordance wth the provisions applicable to companie5 subject to the small companies regime within Part 15 of the Compan￿$ Act 2006. The Financial Slalements on pages 42 to 58 were approved by the Board of Tru$lee$ on 14 September 2021 and signed on their behaw by ". Sue Robson Chair 43 AGE UK SHROPSHIRE TELFORD & WREKIN STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2021 2021 2020 Cash flows from operating aclivilies.. 16 217,401 12.304 Cash flows from investing a¢tlvitie$ Interest Income Purchase of tangible fixed assets 13,870 (22,836) 20.713 137.586) Net ca8h provided by {u8od In) investlng actlvlties 18,9661 116.8731 Increase {decrease) in cash and cash equivalenls in the year 208,435 14.569) Cash and cash equivalents at the beginnirwJ of the year 1,141,829 1,146,398 Cash and cash equlvalen18 at the end of the year 1.350.264 1.141.829 44 AGE UK SHR PSHIRE TELF RD & WREKIN NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021 ACCOUNTING POLICIES a Basis of preparation The accounts have been prepared in accordance thilh the charitys goveming documenl, the Chafilies Act 2011 and "Accounting and Reporting by Chanlie$'. Statement of Re￿mmended Practice applica￿e to charrties preparing their accounls In accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. las amended for accounting periods commencirKJ from 1 January 20191. The chanly is a Public Benefit Entity as defined by FRS 102. The accounts are prepared in slerting. which is the fUnCt￿nal currency of the charity. Monetsry amounts in these finanoal statements are rounded lo the nearest £, The Charity meets the definibon of a public benefii entity under FRS102_ A55els and liabilities are nitsally recognised al historical cosl or transaclKin value unless olherwryse staled ¢n the relevant accounting policy note_ b Income recc*Jnilion polic￿5 Mems of income are rewgnised and induded in the accounts when all of the loll0v￿ng criteria are metr. • The chanly has enlrtlemenl to the funds= ' any performance conc1rtions attached to the rtemlsl of income have been mel or are fully wrthin the control of the charity., • Ihere is sufficient certainty that receipt of the income is conS￿ered probable.. and . the amount can be measured reliably. For ￿8¢le$, entitlement is taken as the earl*r of.. Ihe date on which the charity is aware that probate has been granted.. . the eslale has been finalised and nob"ficalion has been made by the execulcrflsl lo Ihe charrty that a dislributDn wll be made.. or . when a distribution is received from the estate. Receipt of a legaty, in whole or in part, is only considered probable ¥*ten the amount can be measured reliably and the charity has been noty'fied of the execulorfs intention to make a distribution. Where legacies have been notified lo the charity. or the charity is aware of the granting of Pfobale, and the criteria for income recognrtion have not been m81, then the legacy is treated as a conlingenl asset and disclosed if material_ Income is deferred there il relates to fvture periods. c Donated services and facilit Donated services or facilities are recognised as income when the charity has control over the item, any Conditions associated with the donated item have been met, the receipt of economic benefit from the Ltse of the chanty ol the ilem is probable and that economic benefit can be measured ￿lIablY_ On receipt, donated services and facilrties are recognised on the basis of the value of the gift lo the charity hich is the amount the charity would have been wlling to pay to obtain services or facilrties of equivalent e¢onomic benefit on the open market- a corresponding amount is then recognised in expenditure in the period of receipt. No amount is included with the Financial Ststements for volunteer lime in line with the SORP (FRS 102), Further detail is given in the Trustees Annual ReFort. 45 AGE UK SHROPSHIRE TELFORD & WREKIN NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021 CONTINUED ACCO NTING POLICIES CONTINUED d Grants. including grants for the purchase of f￿ed assets. are recognised in fvll in the Statement of Financial Activities in the year in %thich they relate. e Reslncted funds are to be used for specffied purFK)ses as Laid down by the donor. Expendrture, which meets these cnleria. is i(Jenlrfied lo the fund. f Unrestricted ftjnds are donab.ons and other income Teceived or generated for the oty'ecls of the charty wilhout further specified purpose and are available as general funds. g Designated lunds are unresth'cled funds eamiat*ed by the Iruslees for particular purpjses. h Staff costs are allocated lo acb'vtties on the basis of time spent on those actwities. I Support Costs of the charity relate lo the costs of runnin9 the charity and include any cosls which rannot be specrfically Identified lo another expendrture classification. These have been allocated to the relevant actiwty they sUPP)rt on a per capts basis. j Costs of raising funds indude the employee costs of the Head of IrKome Generation. Fundraising Assistant as well as the direct costs of slaging events. volunteers expenses, retail managers and an allocation of overheads. k Investments held as fixed assets are re-valued at mid-market value al the balance sheet date and the gain or loss taken to the Statement of Financial Acltvrties_ l Tangible r￿ed assets are slated at cost less depreciation. Deprwats'on is provKled al the foll0v￿n9 Furniture and Fittings Office Equipment Motor Vehic￿$ 33 % straight line 33 slraigm line 25 OA feducing balance Impairment of h'xed assets At each reporting dale. the chanty rewews the carrying amounts of ils langiblo assets to detemine whelher Ihefe is any indicatson that those assets have Suffered an impairmenl105s. If any such indication exists. the recoverable amount of the asset is ests'maled in order lo determine the extent of the impairment loss lif any). m Stock is incllsded at the lower of cost or nel realisable value. Donated items of stock are recogntsed on receipt at fair value which is the amount the chanty would have been ¥￿IlIng to pay for the rtems on an 0[￿￿ markeL n Rentals payable under operating leases, includ￿n9 any lease incentives receNed. are charged to income on 8 Straight line basis. o The charty onty has fi'nancial asse15 and liabilth'es of a kind that qualify as basic financial instrumenis. Basic financial instruments are initially recognised at transaction value and subsequentty measured at settlement value. 46 AGE UK SHROPSHIRE TELFORD & WREKIN NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021 CONTINUED ACCOUNTING POLICIES CONTINUED p Trade and other debtors are recognised at the settlement arnounl due after any trade discount offered. Prepayments are valued at the amount prepaid after tsking account of any trade discounts due. q Cash al bank and cash in hand indude cash and short term highly liquid inveslments wilh a short matunty of three months or less from the date of acquisrtKin or openirig of the deposrt or similar account. Creditors and provisions are recognised where the charity has a present obligatNJn resutting from a past event thal will probably result in the transfer of funds lo a third party and the amounl due lo settle the obligation Can be measured or esth'maled reliably. Creditors and provIs￿n$ are nomially recognised at their settlement amount after allowing for any trade discount due. 2 TOTAL EXPENDITURE 2021 2020 Charitable Activities Resth'cled Fund5 Slaff Costs Travel Grants Premises Costs Support cosls Overheads and project running costs 518,626 4.411 208.811 29.458 130,631 60.743 551,434 55.435 185.381 46.197 122,114 91,412 952.680 1,051.973 Unreslncled Funds Staff Costs Travel Premises Costs Support costs Ovetheads and project running costs 1,24T.866 63.631 69.791 1154.6851 241.520 1.215,371 87,721 80,013 {151,3361 129,592 1.468.123 1,361.361 Total Charitablè Actmties excluding Govemance Costs 2.420.803 2,413.334 Costs of raising funds Retail Costs Staffing Premises and overhead costs Travel Support costs Income General￿ Team (including support costs) 50.879 45.788 1,547 14.293 73.409 48.267 81.899 8,064 29.222 75.060 185.916 242,512 47 AGE UK SHROPSHIRE TELFORD & WREKIN NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021 CONTINUED 2 TOTAL EXPENDITURE CONTINUED 2021 2020 Governance Travel Audrt 379 13,345 11,719 Total Expenditure 2.618,438 2.669,570 Expenditure includes.. Audit fees Depreciation on tangible fixed assels 11,719 19,226 13,345 18,032 48 E UK SHROPSHIRE TELFORD & WREKIM NOTE TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021 CONTINUED 3 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unro8trf¢tod Funds 2020 Roslrfcted Funds 2020 Totsl 2020 Income Donations. Grfts & Legacies 38,841 32.976 71.817 Income from chanlable ackn'vities Grants Client Fees {Lwing Well, Diamond Demenlia & Help @ Home) 452,522 933.194 1,385.716 970,660 62.077 1,032.737 Income from other tradin Retail Income Other Income activilEs 164,807 9,470 164,807 18.666 9.196 Investment 20,713 20.713 Total Income 1,657,013 1,037,443 2,694,456 Cost5 of generating voluntary income Fundraising trading.. costs of goods sold Fundraising trading., costs of fundraising and retail 242,512 242.512 Chafrtable activities rn 1.375,085 1,051.973 2,427.058 Total expendlturn 1,617,597 1,051,973 2,669,570 Gross transfers behveen fuThJs Gains l {losses} on investment assets {10,8621 (10.8621 Nel Incomellexpendilurel before other recognise(I gains and losses 28,554 {14.530) 14.024 Other recognised gainsnossès Transfers between funds Actuarial gainsl{lossesl on defined benefit pension scheme 135,3661 35.366 {140,0001 {140.OCQI Nel movement in funds {146.812) 20.836 {125.976) Totsl funds brought forward 841,776 278.206 1.119.982 Totsl funds carned fomard 694,964 299,042 994,006 49 AGE UK SHROPSHIRE TELFORD & WREKIN NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021 CONTINUED 4 TANGIBLE FIXED ASSETS Furnilure and Fixtures Office Equipment Motor Vehicles Total Cost As at l April 2020 Additions Disposals A5 at 31 March 2021 78.378 20.896 25.897 73.377 18.404 1.940 66.oc 162.782 22.836 25.897 159.721 66.oc reciation As at 1 April 2020 Depreciation for Year Disposals As at 31 March 2021 52,400 15.983 25.897 42,486 18,404 107 53.453 3.136 124,257 19,226 25.897 117.586 18,511 56.589 Not Book Value at 31 March 2021 30.891 1.833 9.411 42.135 1M h2020 25.978 12.547 38.524 5 INVESTMENTS Quoted Investmenls:. 202 Market Value al 1 April 2020 Increase (decrease) in markel value 334,215 68.038 345.077 110.8621 21 402.253 334.215 Investments at cost 244,000 244,01)J Unllsted Investments:. 2021 202 Age UK STW T￿dIng Ltd TOTAL 402,254 334,216 50 K SHROPSHIRE TELFORD WREKIN NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021 CONTINUED 5 INVESTMENTS CONTINUED The charty holds more than 20% of the share capital of the followlng companies.. Country of réglstratlon or incorporation Shares held % Subsidiary undertakings Clas$ Age UK STW Trading Ltd England and Wales Ordinary 100 The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows". Principal actlvlty Capttal and reserve• 2021 Profiv (loss) for thfr year 2021 Insurance commission Age UK STW Trading Ltd The Ilnanclal performanco of the 8ubsldlary Is as follow8: 2021 2020 Summary profft and loss account Tumover Gross Profit Administrative expenses Proftl for the year Aggregate amount of capital and reserves The subsidrary company had ceased lo trade as al 31 March 2018. BTORS 2021 2020 Help @ Home Client Fees Outstsnding Other Debtors Amounts owed by group undertakings 134,209 110,039 134,209 110,039 7 CREDITOR One Year) (Amounts Falling Due Wiihin 2021 2020 Trade creditors Stsff Costs Other Creditors and Accruals Delerred income 10,491 89,315 49,282 20,000 12,622 97,246 14,891 20,000 169,088 144,759 Included in deferred income is a granl payment from The Masonic Charitable Foundat￿n. 51 Pens￿￿ Re5et¥è In aEcordance with FRS102- RElirefflenl bEneffis. the [￿bill1Y at￿lbU￿ble io the pens￿￿ 5chemqG IS shown as a i£d￿cliDn of total fvnd5 No de¥ignaliw offunds to meet ￿fvre pell5￿￿ cornmitmen13 41 the tsa￿r￿p 5hEel d41e 15 In UK Shropshire Telford & ￿￿kin anlKwtes Ihal tr￿M￿￿)t9￿ll tye metthw fvIwE cash 8ThJ tl*$ 1$ $￿e¢l to tEguigrrevW In ¢wiun¢Ikn)￿h Wa￿￿n$$r￿ r¥g1&J ptdesg*>W a￿lc￿. ¢•Ql.M24 com• i46,￿0 5.554 2•.ni 17A 97. 1141 7D,g31 41.151 1.572 JO,31D 2,370 44.451 51.PAJ 19,8Y4 ST,7e2 13.171 &)Lth 4.987 21.315 ID.D17 16. Ig7,L 29.316 ,707 NESIT Pto 23.910 Sufwiwty Winie 7￿7 67.459 7,491 47.570 14.015 No LikD L*llP PrywrQ Vc4wltei Betr*diwSerb*• wips 7Cthknse P4eUKCVAO 11ty)1 6.42$ 73.472 2.074 ,45S 22.(41 7.IEOI 1.143 37.625 13.75J 20,W) 25.gZQ 1,028. 37,824 AFC t$Effj￿thry T*X* Rmlrktqd Fw 20,￿2 952,￿D .4E4 370.B4D 6M)rttt$CoieSerit•CuiJ 352,*5 15.WD 68.B72 15.0 61.872 Ots) loo .e IT tkn*PT¢r*8tra IS.t¢)D J2.tr23 IQD.r IM.0 Y%e t￿•)￿9￿1 11,439 IC¢l.430 IE.43P T291•• 623.7L¥J tys 1J1.nJ 1,4JJ.162 112,JJ7 I,￿1,￿)1 5832 155.471 129.25D g.3P2 6DS.655 (•Xd￿ty I,nD.405 I.JO2,7)8 2,4 1,41S.W4 1512.QWI 1lJQ(VJ 1432,LW} i.fP0405 181 03 gB3.1154 2,N7 289 2,618,4)8 181. 1,35). Futher dèi*l# al to1￿ ￿rp￿I)I￿t knids can be iL¥JDd In the annual mport. Thef0loW￿ w4$ ret8ved m tow *om gMmM¢nifuTh￿g, OV￿ the Yarfw$ pffjrye¢#S sh¢ywnat*)ve.' shrrp5￿i￿¢QLrr.I T*Ktrd*idVlr*kinCou￿1 i Q42.0 67.440 110.7 eE.447 210.4)9 1 4¥J,219 1,081 $9S Vart￿L*S are 8ilnbJiabte to c￿￿&19 *Jpwrt ￿ants￿h￿h are aswela¥ th& wmier support aeth. The corlJaa waslrawdferfed fr￿ Ih? Clmieal ccthm1ss￿i￿ fywp 10 Tellr*d and thJrol aThY re5utted Al •l in(xe88e infuThal￿. pan ￿￿ttiCh i8 *0 a11thu1a￿ loCo¥h$19 grants ￿1c￿ are n￿￿ecUrriry. 1Sa.2S) 90.215 52 AGE LIK SHROPSHIRE TELFORO & WREKIN NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021 CONTINUED ALYSIS OF NET ASSETS BETWEEN FUNDS Tangible Quoted Flxed A88els Inv88tmenl8 Net Current Provlslons Total Restricted Funds 370,840 370,840 Unreslricled Funds 42,135 402.254 970.665 {432,0001 983,054 42,135 402.254 1,341,505 432,000 1,353,894 10 TRUSTEES REMUNERATION AND EXPENSES The Trustees are not remunerated. Ouring the year 012020.. 4) trustees were reimbursed travel expenses of £NIL (2020." £379)- Also an additional £NIL was repaid to trustees for expenses occurred during their volunteer advocate role12020". £6311. 11 STAFF The average monthly headcounl was 228 slaff12020'. 250) and the number of full kn'me equivalent employees (including casual and part tsme staff) at the year end was made up as follows:_ 2021 2020 Chief Officer Administration Staff Project Staff - includes core staff Home Support Workers 40 35 49 41 83 98 2021 2020 Salaries and Wages Social Security Costs Employeis Pension Costs Staff training 1,747,045 44,121 95,244 4,550 1,700,010 59,361 102,785 31,666 1,890,960 1,893,822 No member of stsff rerEived in excess of £60.000 in emoluments during the year. Ttte key management Fersonnel comprise of the Chief Executs've Officer, Director of Operatsons and Difector of Finan￿ whose total employee beneffts were £140,88312020'. £140,072). 53 HROP HIRE TELF RD WREKIN NOTES T THE ACCOUNT R THE YEAR ENDED 31 MARCH 2021 CONTIN EO 12 INVESTMENT INCOME 2021 2020 Dividends and Interest on Listed Investments Interest on Cash DeFosits 7.558 6.312 11.583 9.130 13,870 20.713 13 LEGAL STATUS OF CHARITY The Charty is a Company Limited by Guarantee arKI has no Share Capital. The liability of each member, In the event of wnding up. Is Iimrted lo £1. 14 FINANCIAL COMMITMENTS At 31 March 2021. Ihe charty had lotsl commitments under nc￿ cancelable operating leases as detailed below. 2021 2020 Operab"ng leases ￿￿ch expire.. Within one year Between two and five years 14,959 20,892 52.832 35,851 89.418 The maln lease expired in September 2020. The renewal of this lease is currenVy under negoliats-on. 15 C RP RATI NTAX The charty is exempl from corporation tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 lo the exlenl that these are applied to rtS charitable objects. 16 RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES 2021 2020 Nel movement in funds Add back depreciation charge Deduct interest income shown in investing activfties Deduct gainsl Add losses on investment Decreasellincreasel In stock DecreaseJlinciease} in debtors Increasel{decrease> in credilors Increasel{decrease> in pensfr?n fund deficit 359,888 19,225 {13,870) {68,0381 37 (24,1701 24,329 18Q,0001 1125.9T61 18.032 120.713} 10.862 {1,982} 113,634> {3,285> 149.C4)0 Nol ca8h providod by operating a¢tiviti08 217,401 12,304 54 AGE UK SHROPSHIRE TELFORD & WREKIN NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021 CONTINUED 17 PENSIONS The charty operate5 a defined benefit pension scheme. The rnost recent actuarial valuats'on was 31 March 2019. 2021 2020 Employei's contributions Employees, contributions 5,543 4,265 28,526 4.143 Total contnbutsons 9.808 32.669 2021 2020 Prlnclpal actuarlal a8sumptlons Rate of increase in salanes Rate of increase for pensions in payment Discounl rate for scheme liabilrtes Inflalion assumpkn'ons 3.95 2.80 2.10 2.70 3.35 2.20 2.40 2.10 The current mortality assumptKJns include sufficient allowance for future improvements in mortality rates. The assumed lrfe expectations on ￿tIreMent age 65 are.. 2021 Years 2020 Years Retiring today -males -Females Retiring in 20 yEats -males -Females 22.9 25.0 25.0 24.2 24.2 26.6 The chartys share of the assets and liabilities in Ihe scheme and the expected rates of return were: 2021 Expect•d 2021 2020 Expected return 2020 Falr Value Falr Value Equib"es other bonds Propety Casmiquidty Othèr 49.3 20.7 1.078,000 453.000 83,000 7,000 567,000 938,000 418,000 81.000 24.000 414.000 25.9 22.1 Tolal market value of assels Present value of benefi't obligations 2,188.000 2,620.000 1,875,000 2.387.000 Net pension asset l (liability) 432,000 512.000 55 AGE UK SHROPSHIRE TELFORD & WREKIN NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021 CONTINUED 17 PENSIONS CONTINUED 0￿ratIng costs and Income recognised In Ihe slatoment of fSnanclal actlvltlos 2021 2020 Flnanclal expendllurel(Income) Interest on pension liabilities Inlerest on plan assets 56,000 44,000 57.000 48.000 12,000 9.000 Other expenditurel{income) Currènt sernice cost 27,000 29.000 Total operating chargel{income) 39.000 38.000 Actuarlal gain8 and 1088e8 included in Iho statement of other comprehen81ve income 2021 2020 Remeasurements -Assets -Liabililies (320,000) 207,000 167.000 40.000 113,000 127.000 Movement8 In Ihe present value of deflned benefit obllgatlon8: 2021 2020 Opening defined benefit obligations Current service cost Interest cost Contributions by employees Past Service Cost (Gain) Remeasuremenl Igainllloss on assumptions Remeasurement experience gainl(loss) Benefits paid (2,387,000) {27,000) {56,000) 14,000) 12,389.000) {29,000) {57.000) {4.000) {13.000) 160.000 (120.000) 65.000 (257.000) 50,000 61,000 2,620,000 2 387.000 56 AGE UK SHROPSHIRE TELFORD & WREKIN NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021 CONTINUE 17 PENSIONS CONTINUED Mov•m6nts In th• f8lr valu8 of th• charl1￿$ 8harn ol 8ch8ma a88ets: 20 020 Opening fair value of stheme assets Interest oll plan assets Remeasuremenls ConlribLrtions by employers Contributions by employees Benefits paid 1.875,000 44,000 320,000 6,000 4,000 61,000 2,026,000 48.O¢JO (167.0001 29,000 4,000 65,000 2.188,000 1,875,000 Hlstory ol ex￿￿on¢0 galns and los￿¥. 2021 2020 Present value of defined benefrt obligations Fair value of Share of scheme assets 2.620,000) 2.188,000 12.387,0001 1,875,000 Surplusl {defial) 432 000 512.000 Potontlal effect of ongolng case: Additional potential costs have been highlighted bythe actuariai as a result irf an ongoing case: Addrtional past service liabilites as at 31 March 2021 18.000 Addilbonal projected seThice eost for the year commenang 1 April 2021 2.000 H¢)wever as the case still has scope for appeal , an adjustment hasnl been made in this accounting year. 18 RELATED PARTY TRANSACTIONS During the year Shropshire Partners in Care Ltd. of vthich Susan Robson (Chairl is a director provKled serv￿$ to Age UK Shropshire Tefford & Wrekin of £21612020.. £1,726)- Outstanding as at 31 Marth 2021 was £NIL 12020_' £3901 due lo Shropshire Partners in Care Lld. DuTing the prevK)us year a laptop costing £615 was provKled to David Bell (trustee) to help him to carry out his role due lo the impact of cov1￿19. There were no other Iransactions cf outstanding balances with T8lated part￿$ as at 31 Ma￿h 2021. 57 AGE UK SHROPSHIRE TELFORD & WREKIN NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2021 CONTINUED 19 LIMITED LIABILITY AGREEMEiir In accordance wth Companies Act 2006 Is5381, we are required to disclose any audrt liability limitation 8greements in effect. A resolut￿n was passed on 24 May 2021 which limits the liatslily of the auditor to £5m for any loss or damage suffered by Age UK Shropshire Tefford & Wrekin arising out of or in connection with the provision of semces provtded ty the audrtor Including negligence but not wilful default. 58 -