Shropshire TelFord & Wrekin Age UK Shropshire Telford & Wrekin Annual report of the Trustees and Financial Statements year ending 31 March 2023 Company no. 04292896 ageuK Shrop5hire Te1f￿d & Vlrekin ageuK SAIWMatters nd ? Signing up with SAND We signed up to Sofe Ageing No Discriminotion's Covenant Introduction Ouryoarin numbors Our stratogic outcomos Campaigning Our servicos Our volunteers Fundraising Co rporato govornonco Trustoos and Principal Officors Financial summary Auditors report Finoncial statomonts Our officos 10 12 14 18 20 24 26 28 32 38 55 We usually end this foreword by giving thanks to our volunteer5 and staff. However, this year we felt we should Start by saying a huge thank you to all of our volunteer5 and staff, who have shown enormous commitment and resilience In continuing to support so many older people, th rough some very difficult time5. Whilst many oldor people aro now vaccinated, cind aro able to go about thoir livos as thoy did prior to the pandomic, thore aro still very many oldor people whose health ond wellbeing have been negatively impacted and who need our support. In oddition, as tho year progressod, tho impact of tho cost of living crisis grow and, as a rosult, demond continued to riso, ospociolly for our bonofits advico ond belriending Se￿ices. Wo also know that the pandomic affoctod somo older pooplo moro than others, as will tho cost of living crisis and we have continued to work towards ensuring that our organisotion is supporting and roaching out to divorso com munitios. Our outrooch work has continued, and wo aro going to as many community ovonts and groups as wo are able to. Wo havo workod with SAND (Safe Agoing No Discrimination) and Age IIK Horofordshire & Worcostorshiro to dovolop Reach, a belriending service lor older and old LGBT+ people. We signed up to tho SAND covonant to embraco a culturo of inclusion and our Equolity, Divorsity & Inclusion group considered training and roviewod our EDI oction plan to give us more focus on diversity, We have continued to work as part of tho Hardship & Povorty group to provido support ond help to older pooplo who aro struggling financially and we aro involved in a numbor of othor groups such as the Dementia Action Alliance, the Mental Health Forum, Digital Inclusion Notwork and tho Domestic Abuse FODJM. As you wll soo from our report, wo O n a positivo note our Digital continued to bring back sorvicos post Inclusion Projoct roolly took off and pandemic, and our activity levels we have had some lantastic results have gono up across all aroas. with thoso oldor poople wo havo Unfortunatoly, one impact of tho boon ablo to support to got online. curront timos has boon a significont Sadly, wo also found a number of reduction in the number of our cases ol older people being volu nteers, which has docroasod scam mod or upsold IT packages and, sinco tho start of tho pandomic, and whoro wo havo found thoso, wo havo continues duo to the impact of tho boon ablo to holp tho oldor person to cost off living crisis. This has put an sort it out and raised issuos with tho addod prossure on our ability to providors. Wo continuo to lobby and moet tho rising domond ond, sadly, campaign about tho digital oxclusion wo havo waiting lists for somo ofolderpooplo, both locally and at a sorvices, which is somothing wo try national lovol. Our Choir sits on tho hard to avoid. national Ago UK Influoncing Com mittoo and thoy havo raisod our concerns about digital exclusion lor oldor pooplo. In turn, Age UK havo raisod this with ministers, as a national issuo. This has also been a more challonging yoar for fundraising and incomo gonoration. During tho fi rst yoar of tho pandomic, thorowore a number ol COVID related grants that wo woro ablo to apply lor to help us In July, wo movod to our fantastic meet demand, but by 2021122, new officos ot Bollstono in those had mostly driod up. Shrewsbury. This was a major Nevertheless, our Income Generation undertaking after twenty years at toam hasworkod hard to find and Mardol Gardons, ond all tho staff bring in altornativo grants, donations worked hard to mako tho tronsition and funding streams, and our smooth for our boneficiarios. Post- Wellington shop has continued to pandemic, the ability to work Irom croato additional surplus to help us homo moant that wo could move to moet somo of tho sorvico prossuros. moro suitablo, smallor promisos. Wo We would liko to say o big thank you havo boon delighted with the new to all those donors and funders who space, and its openness, high street have supported us during tho yoor, presonco, and accossibility (next to we need your support moro than disablod parking and bus stops) all ovor during thoso difficult yoors. moan our footfall is incroosing weekly. Ou r wi ndows give us a great opportunity to publiciso ond promoto ovonts, sopiicos and volunteering opportunities. Novortholoss, with tho support of our trustoos, staff, voluntoers and funders, we will rise to the challenge Moving forward for tho coming yoar and koop helping our local oldor we havo a number of challonges that pooplo. we aro facing and we oxpect it will be a tough year, The reduction i n volunteors is ono of our biggost challongos as most of our activitios aro providod by, or supportod by, voluntoors. This is a national issue alfocting most charities, not just ours, and we aro working with all our local portners to boost volunteer rocruitment. Suo Robson, Chair of Trustoo Board Hoathor Osborne, Chiof Exocutivo The incroasing domand for soNicos continues to challenge and we anticipato longor waiting lists. This is notjust tho rosult of COVID or tho cost of living, it is also because Shropshire, and particularly Telford, have an oldor population thot is growing much moro rapidly than tho nationol, or rogional averago. This puts added pressure on our already stretchod sorvicos. Finally, our third big challongo will be rinancial: increased energy, running costs and national minimum wago also havo an impact on our oxponditure and funding incomo is not keeping pace with these incroasos. Wo havo alwoys workod hard to balanco our budgots but, in tho curront climoto, this is bocoming increasingly difficult to do. ivellbelng servlces We teamed up with Shropshire Hills Discovery Centre for nature walks 18 9,000 attendances at our wellbeing and activity groups. £3m in additional benefits raised for local older people. 140 people called by our telephone buddies every week. 26,000 website visitors seeking information and advice. Our trusted assessor fitted 477 pieces of equipment. 68,262 hours of support provided by Help at Home. Our Telford staff responded with in-depth casework advice to 405 enquiries. 289 957,,. attendances at our dementia support respite sessions. advocacy cases dealt with. - - - - - - - - - - - - - - ✓ ✓ - - - - - - - - - - - - - - ✓ ✓ - ✓ ✓ ✓ ✓ Wo woro honourod to havo Californion filmmakors Stu Maddux and Joo Applobaum promioro their film, All tho Lonoly Peoplo, at tho Old Market Hall in Shrewsbury. The film shines a spotlight on lonolinoss and isolation, with somo of tho oldor people we support and our volunteers in front of the camera, sharing thoir expe riences. Supporting national campaigns such as Domentia Action Woek holpod us raiso awareness ol the challenges older people face living with domontio, ond thoir carors. Voluntoors Weok, Carors Wook and Scam Awarenoss Wook were just somo of tho othor campaigns we took part in this year. As wo movod out of tho pandomic into a cost of living crisis, it wos ovon moro important to convey the concerns of local older people. Engoging with the Social Impact Task Forco, tho NHS and local authorities onablod us to influonco thoir priorities in supporting tho most vulnorablo. Our now offico is now situatod in a prominont position in tho contro of Shrowsbury affording groator visibility to campaigns on local and national issues, we will build on this in tho coming yoar. 13 - ✓ ✓ ✓ ✓ Nove rtholess, tho chority rospondod as it alwoys doos. Our staff ond voluntoors rollod up their sloovos and got on with providing a hugo rango of sepiices lor local older people, Ourwellbeing soNicos gavo oldor pooplo tho opportunity to stay connoctod with each othor whilst engaging in a wide range of pastimes. Dospito hoving lost a number of our day contros duo to tho pandomic, wo still ovoragod about 270 rogular mombors onjoying tho activitios and companionship that these groups provide. Dementia support sorvicos saw 1,600 attendances over tho yoar and wo provided nearly 150 hours of support through our Let's Tolk project. Our activity groups wont from strength to strength this year. Whether it was walking groups, roading groups, oxorciso classos or just lunch clubs, wo offorod older people o massivo rango of opportunitios to socialiso, koop active and stay physically ond mentally fit. Wo had in oxcoss of 9,000 attondancos at theso groupsl Particular succossos woro our Lino Dancing classos i n Tolford, which roally captu rod pooplgs imaginations ond attracted nearly 2,000 attendancos on thoir own. Moanwhilo Shrewsbury Walking Football Club continued to offor camarodorie and oxorcise with 1,600 attendances. Excitingly, in March wo sow tho stort of a brond new Womon's Walking Football group, inspired by the success ol England's national toam, tho Lionosses. As usual, our Information & Advicesorvicos were in huge demand, We were thrilled to note that thoAdvocacy soNice not only dealt with its 20,OOOth caso last yoar but also achiovod tho Advococy Quality Porformanco Mark IQPMI, on immonse achievement on both counts. 15 Our services (continued) Once again, tho Benefits advice clionts. Thoy providod over 7,000 toam acquirod over £3million in age- hours of support, oithor faco to faco related benefits for local older people or on the telephone. and wo succossfully trainod-up a new bonofits advisor in tho toam. 2022 was, of course, Plotinum Jubiloo yoar and to mark tho As mentioned elsewhere, we occasion the Befriending team asked rolocatod last yoar to our new officos thoir voluntoors to sharo in Bollstono. This coincidod with tho rominiscencos of 1953, the yoar tho appointmont of a whole new loto Quoon Elizoboth II was crownod. Rocoption toam who woro kopt Tho rosult was a lovely momory incrodibly busy with the incroasod booklet that tho volunteers usod to footfoll that our new, high-profilo ongago in conversations with thoir offices attractod. clionts and, at tho samo timo, providod a nico momento of tho Wo wore also ablo to provide support occasion. to oldor people with thoir IT and devices; our Di ital Inclusion Finally, our Help at Homeservice projoct establis od o knowlodgeablo again dolivorod almost 70,000 hours toam of voluntoors and a set of ofsupport to around 1,300 clients. leorning matorials which, it is hopod, Whilst this is typical of tho lovols of will be able to support older people activity this Se￿Ice delivers year on for yoars to como. Ovor 40 oldor yoar it must be noted thot last yoar pooplo bocame digitally activo ovor was a massivoly challenging year for the past year thanks to tho holp of tho team, roquiring os it did a roft of our team. preparation for the introduction of new omploymont contracts for our One final point to noto last year was Homo Support Workers, the scalo of tho ro-organisation of the team to which cannot be oxaggeratod. That include our Care Navigators, who, we were able to maintain the seplice botwoon them, doalt with ovor 1,100 at thoso sorts of lovols is tostamont roforrals in Tolford & Wrokin. to the dodicotion and skills of our back office toam. The Friendship Supportservices (consisting ol Befrionding and Tolophone buddies) providod a lifoline for isolated oldor pooplo. Nearly 200 volunteers give their time in this service, supporting almost 300 16 Dementla resplte servlce Providing support for people with dementia and their carers - - - - - ✓ ✓ ✓ ✓ Whatovor tho specific roasons thoro was clearly a perfoct storm of rosiduol COVID foars and cost ofliving anxiety thot lod to voluntoor numbers dropping, However, tho good nows is that wo hc]ve seon signs of rocovory as tho year has progrossod and, thanks to a huge amount of work delivered by tho toam to gonorato voluntooring intorost, our numbors aro boginning to improvo. Wo appointed a new Voluntoor Rocruitmont Officor and Assistant this year and, along with our Communicotions Officor, wo havo boen ablo to stimulato ronowed intorost in volunteoring for us. As we say every year, our volunteers are the lifeblood of this charity and it is impossible to find a sufficiont way of rocognising all thoy do. Novortholoss, wo novor tako it for grantod and once again we extend a huge thank you for an amazing toam of pooplo. 19 Fundraising 377 Age UK Shropshire Telford & Wrekin 15 a local, independent, registered charity, with donation5 Used locally, to support local older people. We saw individual donations rise on provious yoars. thanks to our rogulor donors, wo con run vital sorvicos for tho most vulnorablo oldor poople in our communities. one off donation5 received £50,000 raised over 10 years by North Shropshire Supporters Group 31% The organisation is registered with the Fundraising Rogulotor ond our Incomo Gonoration team always odhoro to thoir standards of fundraising. Wo havo a robust Income Generation strategy, which is reviewed annually by tho trustoos and oversoon by our Incomo & Communications committoo. Incomo gonoration activitios aro ovorseon by our own Income Generation team, andwe have not used any outsido lundraisors in this yoar, othor than our supportors, groups. increase in income from regular donors Strategic outcom e Roducing the risk of lonolinoss and isolation Optimising indopendenco and wollboing Well informod oldor pooplo can assert their rights Older pooplgs voicos hoard on sorvicos and issues 20 Wo havo had no complaints or concorns about our fundraising activitios in tho lost yoar and our GDPR consont forms onsure that wo only contact those who agree that we can, about fundraising and campaigning. Given that our clientolo aro mostly oldor pooplo, wo aro caroful about not putting prossure on individuols to donato unloss they wish to do so. Digital fundraising is bocoming an important incomo stroam, so wo hovo boon kooping up to date with new i n novative do nation platlorms, including digital donotion points introducod in our rocoption and at fundroising evonts. The volunteers at the North 5hropshire Supportors Group DJn fundraising evonts which aro always fun and roiso much nooded income. This year was an important milostono for thom, reaching £50,000 raised during the ten years thoy havo boon fundroising on bohalf of Age UK Shropshiro Tolford & Wrokin. Wo aro hugoly gratoful for thoir continuod support. Thanks also to Shrewsbury Wolking Footboll Club for thoir monthly donations to support othors to got activo in later life. Wo launchod a Womon's Walking Football Club this yoar thanks to a grant wo holpod socuro towords sot up, pitch foes and football kit. Our chority shop in Wollington hod its most successful year to date, raising o hoolthy surplus thonks to tho staff and voluntoors who put in so much of their time to make it such a great shop. Thank you to thoso who donato unwanted furnituro, you oro not only holping othors but also tho environment. 21 Fundraising (continued) Wo woro succossful with on Ago UK doing their own fundraising grant to support pooplo during tho challongos this yoar, including our cost of living crisis; this lunding trustee Gurbax Kaur, who not only onablod us to put more rosource into ran the London Marathon, but did our Benofits team to holp pooplo lots of othor fundraising to raise an maximiso thoir income. Due to tho amazing £4,000. success of the E.ON grant last year, we rocoivod it again this year and usod it to dolivor more Bonefits toam appointmonts and Homo Enorgy Chocks (with our partnor Marchos Enorgy Agoncy). Thonk you to you all. Wo aro thrillod to soo moro Wellbeing projocts coming to fruition, thanks to Tho Millichopo Foundotion, Arnold Clark Community Fund, Co-op Community Fund and, in its second yoar, the Masonic Charitablo Foundation. Small grants from Town and Parish Councils havo given us tho opportunity to support tho most vulnorablo older pooplo in their com munities. We also received a lot of support from businossos donating rafflo prizos this year. Shrowsbury School hostod a Jubiloe altornoon tea party, opening their doors to our day centro mombors and fundraising too. Thanks go to the members of Bridgnorth Golf Club lor hosting a numbor of fundraising ovents and producing a cookery book to raiso money to support local older people. Wo also had support from individuals 22 _•) Wellbelng Our line dancing classes went from strength to strength Corporate governance How we are run amount not oxcooding £1 to tho Ago UK Shropshiro Telford & Wrekin is assets of tho company in tho ovont a charity constituted as a company ofwinding up. limited by guarantoo Iregistorod charity numbor: 1090445, rogistorod Trustoos servo Ago UK Shropshiro company number: 04292896). Tolford & Wrokin as voluntoers and receive no remuneration. They come A o UK Shropshiro Telford & Wrekin is from a varioty of backgrounds and rand partnor of the national Ago bring owido rongo of skills and UK chority. Ago IIK supports Ago UK oxperionco to tho board including Shropshiro Tollord & Wrokin through undorstanding the noods of oldor its marketing and campaigning peoplo, and essontiol business and activitios, and offers advico and managomont oxportiso. Tho support, including information and trustoos havo ultimate rosponsibility advico rosourcos. Our brand for dirocting tho affairs of tho charity partnership agreement with Age UK and onsuring that it is solvont, woll is undor reviow ot prosont and wo run, dolivering public bonofit and aro toking part in convorsations and meeting the charitable objects for consultotion about what the futuro which it hos boon ostablishod. agreement will look like. Day to day oporational docisions aro Our co-optod trustoo Nicolo Crosby taken by the Chief Executive and the becamo a full trustoo in Novombor stofl of the organisation, within the 2022 and a new trustee, David Coull, dologated authority conforrod by tho joinod usin March 2023 as a boord. Tho board has a cloar schomo co-opteo. of delegation, to clarily those authoritios, in lino with good practico. The board meets a minimum of four timos a yoar. Thoro oro throo formal committoos: Finance & Audit, A skills audit and full induction Sorvicos and Income & process is in place for oll now Com munications. Each committee is trustoes and furthor ongoing training chaired by a trustoo who roports on tho widor ospocts of tho diroctly to tho full board of trustoos organisation and trusteeship is at ovory mooting. offorod on a regular basis to dovelop trusteos, skills and knowledgo. Wo currontly havo 60 mombers. There is no memborship foo, Our objects are set out in our Articles mombors guaranteo to contributo on of Association. They oxist to assist 24 older pooplo who livo in Shropshiro and Tolford & Wrokin who aro in need by reason olill health, disability, fi nancial hordship, social oxclusio n o r othor disadvantago. o) to promoto and carry out, or assist in promoting and carrying out, s￿￿eY5, investigations and research; tl to arrange and provido for, orjoin in arranging and providing for, tho holding of exhibitions, meetings, locturos, clossos and troining cou rsos. Our key activities are also set out in our Articles. They are: a) to oncourago, promoto and organise direct seNices appropriate to the needs of individual older Public benefit In setting plans and priorities for peoplo or groups of older pooplo and areas of work, tho trustoos of Ago UK If thought fit to mako roosonablo charges lor any services provided Shropshiro Tolford & Wrokin havo hod heroundor. duo rogard to guidance from tho Charity Commission on the provision of public bonofit. Charitios are roquirod to oxamino thoir objocts and activitios to onsuro that they meet the public benefit requirement and that their activitios demonstrato and can measuro how thoy havo dono this. Tho board roview this annually at theirJune meeting and are satisfiod that our activitios still meet tho public bonefit roquiroments. In particular, trustoos feel our ongoing pandemic response mot this neod robustly. b) to promote and organiso co- operotion in tho achiovoment of tho objocts and to that ond to support, join in with and co-oporate with othor charitios, voluntary bodios, stotutory outhoritios and other organisotions operating in furthoranco of the objocts or of similor charitablo purposos ond to oxchange information and odvico with thom. cl to ostablish, support, undortako or oxocuto any charitablo trusts, organisations or institutions formod for all or any of the objocts. Risk assessm ent It is the policy of Age UK Shropshire Tolford & Wrokin that trustoos rogularly roviow all risks faced by tho charity, ond havo robust businoss continuity plans in ploco. This is an ongoing procoss which is oversoon by tho Financo & Audit Committoo. Policios ond systoms aro in place to d) to establish or acquire subsidiary componios to assist or act as agonts for tho charity. 25 Trustees and Principal Officers mitigato or losson any idontifiod President major risk ond tho businoss Anno Wignall continuity plan is regularly reviewed. Chair Following tho pondomic and tho Sue Robson curront cost of living crisis, trustoos Deputy Chair havo idontifiod ongoing cost David Boll pressures and the reduction in Treasurer voluntoor numbors as koy risks and Emma Dickonson aro monitoring tho impact of thoso Board Members closoly at ovory board mooti ng. Zara Oliver Gurbax Kaur Age UK STW Troding Ltd Davo Robson Our troding compony hos remained Natalio Hoadloy dormant again this yoar but wo havo Nicolo Crosby not closed it in cose we havo activity Raj Shori which would require such a David Coull 2 subsidiary. Trustoos havo agrood to Daniol Bobbington3 roviow tho company lator in 2023 and docido if it is to romain or be wound up, Principal Officers Chief Executive Hoathor Osborno Director of Finance Gino Sponcor Director of Operations Kevin Mooro Life Vice President Christine Greenhalgh Ambassador Martin Brookos MBE l elected l O November 2022 2 co-opted 14 March 202 2 3 resigned 17 Mqy 2022 26 We've moved Our charity enters a new era in our new premises Financial summary Accounts 2022123 Total Incoming Resources £2,869,217 Income ffDm Donulion% G1ft5 and LcgrKits £96,79313*1 In(orne from FurKlio￿ln9 orKI Events £5,02510%1 Income from Gronis £1,501,234 152%) Incorno IrDrn Clleni FOÈS Cl.137.423140%1 Income Irom keioil £ IOB.07714*1 Invo8imont Inc4Jmo £20.06511%1 Thisyear, for tho first timo in many designated promises resorvo will yoars, tho organisotion closod tho roduco in lino with this policy and rinoncial poriod with an in-yoar accounting rulos rolating to this deficit of £206,559. Howovor, this promises expondituro. At tho ond of was offset with the Local tho threoyoars tho romaining Govornmont Ponsion Schome (LGPSI balance in this rosoNo will bo liability turning round from a prior £27,000, dosignatod for building yoar liability of £377,000 to a mointonance and redocoration. £59,000 gain, in effoct croating a £436,000 addition in lunds on the balance shoot. This surprising actuary rosult of tho pension significantly offoctod our strotogic plans to reduce our reserves for allocated expondituro. This has resulted in a higher in year deficit but also higher roseNes than plonned, in offoct ono has concollod tho othor out. Tho trustoos aro confident that we have exercised prudont financial managemont to monago our rosorvos ond fund our objoctivos in tho futuro. The balanco sheet gain of tho LGPS has croatod a carry forward surplus of £229,401, incroasing funds to Incomo increased by 2010 to £1,738,682. Net assets saw an £2,869,21712022: £2,812,397) incroaso of 15 %, moinly duo to tho roflocting tho gradual roturn to pro premises relocotion and invostmont pandemic service levels; donations of now officos onsuring we aro fit for increased by 1690, rotail by 9 % and purpose for our stall and clients. cliont foos by 50/0. Invostmonts mado a loss of £16,93312022: £33,999 gain). We invostod funds into tho rofurbishmont and rolocation to our new premises in Bellstone, Total oxponditure incroasod by IOO/o Shrewsbury in tho fi nancial yoar. to £3,058,883 reprosentod by soplico Ovor tho noxt three yoars, in lino with recovery and associated increases in our doprociotion policy, the costs duo to Notional Minimum 28 Total Expenditure £3,058,883 Costs of R(ri51r¥J Fund5 0￿* Retoil E158,43715%1 •ChorllOtXe Acrivll*s F?,￿￿,446195*) Wago increases, inflotion and promises costs. tho loss of, or roduction in funding, to sustain and further dovolop our coro sorvicos whilst onsuring wo havo onough froo roso pJos to covor tho fluctuating LGPS liability that may bo forthcoming in 2024125. Our onnual roviow of rosepJos (pago 481 has occurred and wo havo put asido furthor funds for sorvico development. Incroasod costs aro not at prosont boing rofloctod in Auditors inflationary incroasos to our grant A rosolution will bo proposod at tho and contract ffunding which is having Annual General Meeting that Dyke a dotrimontal offoct on tho overall Yoxloy Limitod bo re-appointod as budgot, and this yoor wo will have to auditors for tho onsuing yoar. uso somo rosorves to sustoin in yoar seNices. The trustees are working hord with tho CEO to reduco theso deficits but, if inflationary risos continue to incroaso costs, without respective increases in grants, rosorves will inevitably bo doplotod. Statem ent of trustees. responsibilities The trustees (who are also directors of Ago UK Shropshiro Tolford & Wrekin for the purposes of company Ic]w) oro rosponsiblo for proparing tho trustees, report (incorporating the Plans for 2023124 stratogic roport and diroctorg report) We havo two tondor processos to and tho financial statomonts in complote in 2023124 to onablo accordanco with applicablo law and current seNices to continue in their United Kingdom Accounting curront format ond work is underway Standards, including Financial to proparo for thoso tondors. Roporting Standard 102: Tho Financial Reporting Stondord applicable in the UK and Republic of Irelond (United Kingdom Gonerally Acceptod Accounting Practico). Our strategic fi narpcial plan for tho futuro is to onsure we havo enough roseNes availablo to compensoto for 29 Company law roquiros tho trustoos to and honco for taking reosonablo preparo financial statomonts for stops for tho provention and each financial year which give a true detection of Iraud and other and fair view ol tho stato ol affairs of irrogularitios. tho charitable company and of tho incomo ond oxpondituro, of the In so far os tho trustoos aro awaro: charitable company ffor that period. there is no relevant audit In proparing thoso financial information of which tho charitablo statomonts, the trustoos aro roquirod co mpa ny's audito rs oro unaworo, to: and soloct suitablo accounting policios tho trustoos havo takon oll stops and thon apply thom consistently; thot thoy ought to havo takon to . obsepJo the methods and principles mako thomsolves oware of ony in the Charities Statomont of rolovant audit information and to Rocommondod Practico (SORP). ostablish that tho auditors aro awaro make judgomonts and accounting of that information. ostimatos that aro reasonablo and The trustoos aro rosponsiblo for tho prudent. maintenance and integrity of the state whothor applicablo UK corporato and financiol information Accounting Stondards havo boon included on tho choritablo followod, subjoct to any material compony's wobsite. Logislation i n departures disclosed and explained the United Kingdom governing the in tho fi nancial statomonts, and proparation and dissomination of preparo tho financial statomonts on financial statomonts may differ from tho going concorn basis unloss it is logislation in otherjurisdictions. inappropriate to presume that the charitablo company will continue in business. Approvod by tho trusteos on 12 Soptembor 2023 and signed on thoir bohallby: The trustees are responsible for mointaining propor accounting rocords which discloso with roasonablo accuracy at ony timo tho Sue Robson rinancial position olthe charitable Chair olTrustee Board company and onablo thom to onsuro thot tho fi noncial statemonts comply with tho Companios Act 2006. Thoy are also responsible for saleguarding tho assets of tho choritablo company 30 A full sot of accounts can bo obtainod from: Gina Spencer, Director of Finance t01743 233 123 e gina.sponcor@agoukstw.org.uk Our patrons Sir Algornon Hobor-Porcy KCVO David Stacoy Esq DL 11 Our quality marks Advocacy 0pM tID¥AI AWARF. Age UK Charity Quality Standard Lert1tieo Dy OSGS Day centres Our day centres continued to reopen Auditor's Report Independent auditor's report on the financial statements to the members of Age UK Shropshire Telford & Wrekin Opinion standards on Auditing (UK) IISAS Wo havo ouditod tho financial (UKII and applicablo law. Our stotoments of Ago IIK Shropshiro responsibilities under those Tolford & Wrokin Itho'charitablo stondards aro furthor doscribod i n Company,) for tho year onded 3 1 tho Auditoffs rosponsibilitios for tho March 2023 which compriso of tho audit of tho financial statomonts statemont of Financial Activitios, tho section of our report. We are Balanco Shoot, the Statomont of indopondont of tho charitablo Cash Flows ond notos to tho financial company in accordanco with tho stotomonts, including significant othical roquiromonts that are accounting policios. Tho financial rolovant to our audit of tho financial reporting Iramework that has been statoments in tho IIK, including tho applied in thoir proparation is FRC'S Ethicol Stondord, ond wo havo applicablo law and United Kingdom fulfillod our other othical Accounting Stondards, including rosponsibilitios in accordance with Financial Reporting Standard 102; thoso roquiremonts. Wo boliovo that Tho Financial Roporting Standard tho audit ovidonce we havo obtainod applicablo in tho UK and Ropublic of is sulficient and appropriate to Irelond (United Kingdom Gonerally provido o bosis for our opinion. Accepted Accounting Practice). Conclusions relating to going In our opinion, tho financial concern statemonts: In auditing tho fi nancial statomonts, give a true and fair view of the state we have concluded that the trustees, of tho charitablo co mpa ny's affai rs uso of tho going concorn basis of as at 31 March 2023 ond of its accounting in the proparation of tho incoming rosources and application finoncial statemonts is appropriato. of resources for the year then ended. have boon proporly propared in accordanco with United Kingdom Gonorally Acceptod Accounting Practice. and havo boon proparod in accordanco with tho roquiroments of tho Companios Act 2006. Based on tho work wo havo porformod, wo hovo not idontifiod any material uncortaintios rolating to events or conditions that, individually or collectively, may cast significont doubt on tho charitablo company's ability to continuo as a going concorn for a period ol at least twelve months from when tho financial statomonts aro authorisod for issuo. Basis for opinion Wo conducted our audit in accordanco with Intornotional 32 Our rosponsibilitios and tho rosponsibilitios of tho trustoos with respect to going concern are describod in tho rolovant sections of this roport. misstatomont of this other information, wo oro roquirod to report that fact. We have nothing to roport in this regard. Opinions on other m atters Other inform otion prescribed by the Companies Act Tho other information comprises tho 2006 information includod in the trustoog In our opinion, basod on tho work annual roport, othor than tho undortaken in tho courso of tho financial statomonts and our audit: auditors report thereon. The the information given in the trustoos aro responsiblo for tho other trusteos, roport, which includes tho information contained within tho diroctorg roport preporod for tho annual report. Our opinion on tho purposos of company law for tho financial statements does not cover financial year lor which the financial tho othor information and, excopt to statomonts are propared is tho oxtont otherwiso oxplicitly statod consistont with tho financial in our roport, wo do not express any stotomonts. and form of assurance conclusion the director¥ report included within thoroon. tho trusteos, roport has been propared in occordanco with Our rosponsibility is to road tho other applicablo logal roquiromonts. infformation and, in doing so, considorwhethor tho othor Matters on which we ore required information is materially inconsistont to report by exception with tho financial statemonts or our knowledge obtained in the audit or In tho light of tho knowlodgo and otherwise appoars to bo matorially undorstanding of tho choritablo misstated. If wo idontily such company and its onvironmont material inconsistoncios orapporont obtained in the course olthe audit, wo havo not idontifiod material material misstatements, we are misstatoments in tho diroctors, roquired to dotormine whothor this roport included within the trustoos, givos riso to a matorial misstatomont roport. in tho financial statomonts or a material misstatement olthe other information. If, based on tho work we havo porformod, wo concludo that there is a matorial Wo havo nothing to roport in rospoct of tho lollowing matters where tho Companios Act 2006 requires us to roport to you if, in our opinion: 33 adoquato accounting rocords havo not boon kopt or roturns adoquoto for our audit have not been received from branchos not visitod by us; tho financial statemonts oro not in agroemont with the accounting records and returns. cortain disclosures of trustoo romunoration spocifiod by law aro not mado, . wo have not rocoivod all tho information and oxplanations wo roquiro for our audit, or tho trustoos woro not ontitlod to propare the financial statomonts in Auditor's responsibilities for the accordanco with tho small audit of the financial statements companies regimo and tako advantage off the small companies Our objectivos aro to obtain roasonablo assurance about whothor oxomption in proparing tho diroctors, tho financial statomonts os o wholo roport and tako odvontago of tho small companios oxomption from are free from material misstatement, whothor duo to fraud or orror, and to the requirement to prepare a strategic report. issuo an auditoffs roport that includes our opinion. Roasonablo assurance is a high level ol Responsibilities of the trustees assuranco, but is not a guarantoo As explainod moro fully in tho thot an audit conductod in trusteos, rosponsibilities stotomont, accordanco with ISAS (UK) will the trustees (who are also the always detect a material directors of tho charitablo company misstatomont when it oxists. lor tho purposos of company law) Misstatemonts can ariso from fraud aro rosponsible for tho preporation of or orror and oro considorod matorial the financial statements and for if, individually or in the aggregate, boing satisfiod thot thoy give a truo thoy could roasonably bo expoctod and fair viow, and for such internal to influonco tho economic docisions control as tho trustees dotormino is of users token on tho basis of thoso necessary to enablo the preparation financial statements. of financial statomonts that aro froo from matorial misstatomont, whother due to fraud or orror. In proparing tho financial statomonts, tho trusteos aro responsible for assessing the charitablo company's ability to continue as a going concern, disclosing, os applicablo, matters related to going concern and using tho going concorn basis of accounting unloss the trustoos oithor intond to liquidoto tho charitablo company or to cease operations, or have no roalistic altornative but to do so. Tho oxtont to which our procoduros aro capable of dotecti ng 34 irrogularitios, including fraud is detailod bolow. and UK tax logislotion. Our tosts included agrooing tho financial statement disclosures to underlying supporting documontation and onquirieswith managoment. Irregularities including fraud Irrogularitios, including Iraud, aro instoncos of non-complianco with laws and regulations. Wo dosign procoduros in lino with our rosponsibilitios, outlinod above, to dotoct material misstatomonts in rospoct of irrogularities, including rraud. Thore oro inhorent limitations in tho audit procodu ros doscribod abovo and, the furthor romovod non- compliance with laws and rogulations is from tho ovonts and transactions rofloctod in tho financial stotoments, tho loss likoly wo would bocomo awaro of it. Wo gainod an understanding of tho legal ond rogulatory framowork applicable to the charitable company Wo did not idontify any key audit and tho industry in which it oporates, mottors rolating to irrogulorities, and considorod tho risk of acts by tho including fraud. charitable company that woro contrary to applicable laws and rogulotions, including fraud. As in oll our audits, we also addrossod the risk of managoment ovorrido of intornal controls, including tosting journals and ovaluating whother thoro was ovidonco of bias by tho trustoos that ropresontod a risk of material misstatement due to fraud. Wo designed audit procoduros to rospond to tho risk, rocognising that tho risk of not dotecting a material misstatomont due to fraud is highor than the risk ol not detecting one rosulting from orror, as froud may involvo doliberate concoalmont by, for oxamplo, forgory or intentional misropresontotions, or through collusion. A further description of our rosponsibilitios for tho audit of tho financial stotoments is locatod on tho Financial Reporting Council's website at: Wo focussod o n laws and rogulations frc.org.uklauditorsresponsibilities which could give rise to a material misstotoment in tho financial This doscription lorms part olour stotomonts, including, but not audito ff s roport. limitod to, the Companios Act 2006 35 Use of our report This roport is made solely to tho company's mombors, as o body, in accordanco with section 391 of tho Companios Act 2014. Our audit work has boon undortakon so that wo might stato to tho CoMpan￿S mombors thoso mattors we oro roquired to stato to thom in on auditoffs roport and for no other purposo. To tho fullost oxtont permitted by law, we do not accept or ossumo rosponsibility to anyono othor than tho company's mombers as a body, for our oudit work, for this report, or lor the opinions we have lormod. Mrlanwalsh Sonior Statutory Auditor For and on behalf of Dyke Yaxloy Limitod Chartered Accountants statutory Auditor l Brassoy Rood Old Potts Way Sh rewsbu ry Datod 23 October 2023 Dementia support We held afternoon tea at the Shrewsbury Museum 36 Thanks to all our funders and donors Ago UK Anthony's Hair Studio Arnold Clark Community Fund Bridgnorth Golf Club Bridgnorth Older Pooplo's Welfaro Group Castlefiolds Day Contre Choshiro Pitt Club Cloobury Mortimor Lunch Club Co-op Community Fund Cravon Arms Thursday Contro E.On Ellesmere College IC5 Shropshire, Telford & Wrekin Julie Kaur and Julos Convonionco Masonic Charitablo Foundation Meolo Braco Lunch Club Millichopo Foundation North Shropshiro Supporters Group Oakongatos Ladios Club Pontosbury Wl Roo Valloy Day Contro Safer & Strongor Communities Fund, Tolford Shrewsbury Supportors Group Shrewsbury Walking Football Club Shropshire Council st. Alkmund's Parish Church Supreme Home Care Tellord & Wrekin Council Tolford & Wrekin Singors Tho Lady Foroster Trust Tho Priorsloo Topaz Dancing School TSB Local Chority Portnorship University Contro Shrowsbury Woitrose Ltd Various locol Town and Parish Councils Thanks also to tho mony individual donors ond fundroisors who mako our work possiblo. Wo thank you all so muchl Fundraising policy and practice Our approach is to bo logol, opon, honost and rospoctful in all our fundraising octivities. Wo do not engage in lundraising that might involvo unroasonablo intrusion on a porson's privacy or is unroasonobly persistont. Funds raisod for a particular activity are used for that activity and our accounting systom is designod to provido for this through a systom of accounts for rostrictod funds, Age UK Shropshire Telford & Wrekin doos not sharo its contact datobaso with third portios and does not uso froelanco fundraisers. 37 AGE UK SHROPSHIRE TELFORD & WREKIN STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME ANO EXPENDITURE P£COU FOR THE YEAR ENDED 31 MARCH 2023 Total 2023 Total 2022 Income Donatior6, Grfts & L8gaoes Fu￿1raIsIryJ and Events $2,716 4.475 44,0 96,793 5.025 83,384 34.027 Income from Charitab￿ a(*'vilies Grants 585.036 916.198 1.501234 1,487,228 Cliert Fees (Liwro Wd. DiaThM Dementsa & Help 1.076 61.125 1,137.423 1,077,112 InD)me from other trad. Retsil InC￿e Othw Incom8 108.677 108.877 99,980 16.381 Investrnent 12 20.CK85 14.287 Total Income 1.847267 1.021.gSO 1869217 2,812.397 Ex ndituie Fundraising trading.. wsts fiJndTrising and relail 158.437 158,437 131,588 Ch*itabte acttvit*s 1.823.788 1.076.658 2,WO,446 2.644,423 Total expenditure 1,982225 1.076,658 3,058,883 2,776,009 Gains I IIc6sesl on inypslmenl assels {16.933) 116.933) 33.999 Nel incomejlexpendlturel before othei reC￿niSed gains and ILsses {151.891} {54.708) (206,599) 70.387 Transfers l)elv￿en furyJ5 A(Auarial gainslllossesl ￿ defined benefit pension stheme 14.056 {14.0561 436.C 85.cfjo Net movemert In fuTrJs 298.165 {68,764} 229,401 155,387 Total funds fc¥wdrd 1.095.653 413.628 1.509.281 1.353.894 Total lunds raffl￿1 f(xvrard 1.393.818 344,864 1.738,6B2 1,509,281 38 AGE UK SHROPSHIRE TELFORD & WREKIN SAT 1 IAARCH 20 NOTES 2022 FIXED ASSETS Tangible Assets Investments 99.147 419.320 34.107 436.253 TOTAL FIXED ASSErs 518.467 470.360 CURRENT Stocks Debtors Cash al Bank aThl ¥1 H*¥J 15.705 B2.881 1.230.531 17,424 229.coo 1,386.506 TOTAL CURRENT ASSETS 1,329,117 1,632,930 LIABILITIES credito￿ Amounts FaUiNJ tx Within One Year 167.9x2 217.(wJg NET CURRENT ASSErs 1,161.215 1,415.921 TAL PSSETS LESS CURRENT LIABI ES 1,679,882 1.886.281 AssetlLiabiity 17 (S9.￿) 377.000 TOTAL NET ASSETS 1.n8.682 1.509.281 THE FUNDS OF THE CHARrrY Designai&Y FuThJs Unresincted Funds 718.974 674.844 812.288 283,385 Total Unrestrbxed Fund5 1.393,818 1.095,653 Restricied Funds 413.628 Total Funds 1.738.682 1.509.281 These finanoal ststem¥rts hab* been •) *>xmlw ￿ th8 aFF*eat* lo companies suty'e¢t to The Finamxal s￿ternents ap￿DVed bythe Bo•d d Tru5t885 12th 2023 arnj SI￿ on Iheir behatf by.. I3se_- Sue Rob50n Chair 39 AGE UK SHROPSHIRE TELFORD & WREKIN STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 Cash from ¢Jperating activilie5: 16 65.845 38.4eé Cash flows from investing activities Interest IrKome Purchase of tangible fixed assets 20.065 (112.723) 14,288 (16.5121 Net cash provided by {u5ed in) investing activities 192.658) 12.2241 Increase )gnI￿n ￿teleS Items of income a￿ re¢ogniwJ iN*Kle(l in the vthen all of the follffiNJ cnteria are met: . The charity has enltuemenl to the Iufxjs. . any perf0rrnat￿ conOitK￿S att*)ed to Ihe itwNs) (rf irh>Th ha¥E rnet cf are ful￿ within the contrc4 of the charity. . the amount can be rneaswed rdthy. For legaaes. entiuement is taken as Ihe earfw rt. . the date on %thich ihe is aware that wc*ate has teen granled.. . the estate has been finalised ￿tsfica￿n has been m* by Ihe exeartor(5) to the (*anty that a distribub.on will be made.. or Recwt of a Wcy. in ￿tK)le or ￿ pat is (￿lY cons1￿ the amount can be measured reliably and the chaFity has been rrf)bfied ol the exe(xrtcrt intenllon lo make a dislributKM. Where legaues h8ve nolrfie¢J lo the chanty, crf the cfwity is avrare of Ihe grantsng of probate. and the critena for incA)me reCC£rnt￿n tsye r￿1 been ffl￿. trm the kgacy ts treated as a conttngeni assei and disdosed rf matenal. c D￿ated serV￿S and Donated seNi(*s or facililies are rwnsed as irthme Ihe thanty has contrij over the ttem. any conditions associated wth the donated item ha¥* been mel the iec£ipt (rf economic benefft from the use of the charty of the rtem ts probable Ihal ecAMom￿ benefrt ￿ be measured reli8￿y. On re￿ipl, d￿1￿j services aThJ faoTtrs ￿e recTrJni￿ ¢)n ts t)asi5 of the value of the gift lo Ihe charity whicli is the amount tt)e chanty ￿(￿jId have been vAWiThJ lo pay to obiain Se￿ICe$ or facilrties of equwalent econcfflTrc benefil on Ihe cpen markeL a corre5F￿￿lTrj amcNJnt is then recoanised in expenditure in the of r￿lpL No ￿Ount 15 includ8d ￿ryth the Finan(aal Statements for vOl￿teer IKne n line vnth the SORP {FRS 1021. Further detail ts gtven Hi ts Truslees Annual ReF*Xt. 41 AGE UK SHROPSHIRE TELFORD & WREKIN NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 IAARCH 2023 CONnNUED ACCOUNTING POLICIES CONTINUED d Grants. induding grants ILY the of fixed assets. are feccontsed in full in ts Stalement of Finanaal ActivitEs tn the wt** rel*. e Restncled funds are to be used ffx speofied rxJrkKJses as laid dr￿￿ by the dc*￿. ExpendFture. ￿￿ch meets these cnteria. is yJentrf*d to the frjnd. f Unreslrided funds are d￿allOnS and olher incr￿e re￿Ned or generated for the objects of the charity without further 5peafied putFx)se and are availat4e a5 genwal funds. g Designatgj funds are ￿Testr￿￿ed fvrKts by trustees ts pwithar purpose* h Staff costs are all￿ted lo thibes ￿ the basis of time spent those *ivities. i Supp(¥t Costs of the charity rel*e to the (￿sts of Funnirnj the d)*ty and include ￿sts wfiich cannot be Spe0f￿allY Identif￿ lo ￿ expeThYrtufe (knifi￿. These have been altocated to the rele￿an1 aclmty they 5UPPKrt on a w capts t*95. j Costs of raisiTMJ funds Kid￿je tty￿ empw ojsts of the Head of InC￿rne Generation. Fundraising Asststant as well as the direct CJ)sts of sk9ng everts. ¥rAunteers exFenses. rela￿ managets and an alk)catDn of ovethea1s. k Investrnents held as fjxed assets are re-valued at mi&mafket at the balance sheet date and the gain or loss taken to the Statement of Financaal ACtsVrf￿s. l Tangible fixe(l assets ￿ stabj at (x& *ss dery8Uati￿. Depre&at￿ is provided at tts fdk)vAng Fumiture and Fittir¥Js Office Equipment mot￿ VetKaes 33 % stra￿1 lir 33 % Stra￿1 lir 25 b*ance Impairment of fixed assets Al eath Teporting date, the tharity review5 the carrying arnounts of its langible assels to determine whelher Inefe ts any indication that those assets have suffered an impamienl loss. If any such irKlicatK)n exists. the recx)vetable amLxJnt of asset s estimated in ￿der to detemine the extent of the ifflpainnent bss (if any). m St(Kk is induded at the of cx)si or nel realisatAe Wa￿e. Doiaied rtems ol stixk are recoJnised on receipt at fair value ￿￿ch is ts rnnt Ihe chth v•x*l ha%E LEen willing to pay for the items on an open mathet. n Renta15 payaile under cperatsrwj leases. arry lease iT￿entIVeS re￿ived. are charged to income on a straight line basis. o The charity ty has finarKial ass* arKI liabili1￿ of a kiTrJ Ihat qualfy as basK financial instruments. Basic finanoal instrumerts are inw recJyJ￿s￿ at trans￿￿ fdlue and subséquendy measuréd at settlement value. 42 AGE UK SHROPSHIRE TELFORD & WREKIN NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023 coiinNUED CCOUNTING POLICIES CONTINUED p Trade other debtrKs a￿ wised at ts setllement arncAmt due after any trade diso)unl offered. Prepa￿t5 are *dlued at the affKNJrrt wepa¥J after tathg of trade disc￿nts due. q Cash at bank aThJ tssh In hand Ind￿8 cth a￿1 sfK¥t iemi fwy Mweslments with a short matt¢rity of three rnonths less from th2 dale of a(xNNSrt￿ or cpenff￿ of the deF*)Sit or similar account r Creditors and IwovisN)ns are recojnised where the dwi.ty has a presenl 0t4lgatic￿ resulliro from a past event that wll probably result in the transfer of funds to a thwd and Ihe arnount due lo settlè thè oblKJation can be measured ￿ estimated reliatAy. CreditcKs and provisiorts are n¢Jmally reccxJnised at their setlement arnc#Jnt after al(￿g for any trade discount due. 2 TOTAL EXPENDITURE 2023 2022 Charitable Activities Restricted Funts Slaff Costs Travel Grants Premises Costs Support costs Ovetheads afwj woieGI wnrnvJ costs 582.713 33.729 191,259 57.632 106.927 104.398 559,830 13,056 185.753 33,586 111,973 ,107 1.076.658 994,305 Unrestrictea Funds staff Costs Travel Premises Costs Support costs Ovetheads aTrJ woied tunrwo costs 1.466.308 81.387 136,%3 1122.756) 250.508 1,369,858 88,967 82,512 (120,014) 217,311 1.812.010 1,638,634 2,632,939 Cosis of rdising funds Retail Costs Staffing Premises aTrJ o¥prtp&J costs Travel Support costs Ino)me Generation Team {1￿￿[￿1]￿J (tss) 43.601 46.601 4.205 8.529 55.501 44,6CQ 28,245 2,242 8,040 48,459 158.437 131.586 43 AGE UK SHROPSHIRE TELFORD & WREKIN TES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023 CONTINUED 2 TOTAL EXPENDITURE CONTINUED 20 Govemance Travel Audit 11,778 11.484 Total Expenditu 3.058,883 2,776.009 Expendtture inclthjes: Audil fees Depreciat￿n on taroible fixed assets 11.778 45,155 11.484 24,540 AGE UK SHROPSHIRE TELFORD & WREKIN TEST NTSF YEAR EN 31 3 CONTI MP TIVES FOR THE ATEmEp￿ OF FI IVITIES Unrestricted Restricted Funds 2022 Funds 2022 Total 2022 Income Donations. Gifts & Lega Fundraising and Events 48,858 34,027 83,384 34,027 Income from charitaLle activrties Grants Client Fees (Umro Well, DiamoTrJ Dements & He Home) 551.637 935.589 1,487,226 1.054,399 22.713 1.077.112 Income from otlw trad" Retail Irmme Other ITK¥Jr aclivities 99,980 16,381 6.027 10.354 Investment 14,287 14,287 Tolal Income 1.807215 1.005.182 2.812.397 Ex nditure FU￿1raIsing trading: ts)sts of lurxtr8isu¥J retaq 131.586 131.586 Charitable aclivil 1.69).118 2,644,423 Tolal expenditure 1.781.704 994.305 2,776,009 Gains l (b5sesl ￿ investment assets 33.999 Net incomel{extEndrtLEre) tse1￿ olher rwnBe¢J gains arKI thses 59,510 10,8 70,387 Transfets behveen fur#ls Actuarial gainsl{knssesi on defined benefft F￿lS￿mI heme (31.911) 31.911 85.OIJO Nel movement in furmts 112,$99 42,788 155,387 Total knnds brou￿1 toward 983.0S1 370.840 1,353.894 Total fvnds Carr￿ forwarql 1.095,653 413.628 1,509,281 45 AGE UK SHROPSHIRE TELFORD & WREKIN NOTES TO THE ACCOUNTS FOR E YEAR ENDED 31 MARCH 2023 CONTINUED 4 TANGIBLE FIXED ASSETS Furniture Office and EqUi￿ent F￿luT￿5 Motor Vehicle5 Total Cost As at 1 April 2022 Addtlion5 Disposals As at 31 March 2023 89.889 176.233 112,723 22,929 266.027 108.757 7,254 121.847 5,675 88.180 10,000 56.000 As at 1 April 2022 Depreriatson foc Ye Disposals As at 31 March 2023 64.034 13.736 5,675 72.095 19.151 29.988 6.061 43.078 58.941 1.431 8.665 51.707 142.126 45,155 20.401 166.880 Net Book Value at 31 March 2023 16.085 78.769 4,293 99.147 Nei Book Value at 31 March 2022 25,8SS 1.193 7.osg 34.107 5 INVESTMENTS Quoted Investments:. 2022 Market Value al 1 Awil 2022 Increase (decrease) in mathel value 436.252 (16.933) 402.253 33.999 Mat*e Value as at 31 Marth 2023 419.319 438,252 Investments at o)st 244.OC(I 244,OiXI Unlisted Investments:. 2023 2022 Age UK STW Trading Ltd TOTAL 419,320 436,2S3 The charity hdds more than 20% of the shwe capilal of the foll(w¥vJ companies". Country of registration Shares held % Subsidiary undertakings Class Age UK STW TraditvJ Ltd (1(KJ6￿79) EWKI aThJ Wales Ordinary 100 The aggregate amunt of wttal aTrJ reS￿ve$ and Ihe res￿15 of these undertak1T￿ fcy the last relevant financial year were as foll(￿. AGE UK SHROPSHIRE TELFORD & WREKIN NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31141ARCH 2023 CONTINUED 5 INVESTMENTS CONTINUED inci Profiu (loss) for the year 2023 2023 Insurance Age UK STW Tr&Jing Lla11(MX90791 commiss The financial perfornwu of the subsidiary IB as frA1¢y￿. 2023 2022 Summary wofil and loss ￿)￿mI Tumover Gross Profit Adminislrative èxpenses Profrt lor the year Aggregate amcxjnt of w¥tal afxl reser•*S The subsidiary C(￿panY had ceased to trade as at 31 2018. 6 DEBTORS 2023 022 Help @ Home Fees OutstaithYJ Other Debtors 7.150 75,731 5.465 223.535 82.881 229.C(iO 7 CREDITORS (Amounts Falling Due Wrthin One Yearl 2023 2022 Trade credit(￿S Staff Costs Other crel1rt0￿ and Ac(￿￿1$ Defe￿ed Ir￿Me 15.127 120.377 19.698 12.700 7,623 98.455 20.289 90.642 167.9J2 217,009 Defeffed income cc*nprises of grants retsrbtd th advance to the that they relate to: BalarKe as al l Apnl 2022 Amounts released Io IT￿oMe in Amounts ¢Jeferre(l in tne year 90.642 190.642 12.700 8alanc8 as al 31 March 2023 12.700 47 ad￿¢4. 47711 YJ13 4t2• 911 .In Jv 40.ICO &151 58.? Te 51 141 971 216ll 10.rn2 Esl pF4e a14 )5757 5rn 97rn1 111 W) 71.$62 F4MtOIAI X431 .010 I￿741 wvs 741 31. 572 4.431 Ilt45 X3 iknstllctsd Funds 105.995 1176ro 51 019 3112 11&914 12¥.• 1N7.1 ¥1 I.￿.8 lJ77fyWI 419 1.*3818 ZLW?TT 419 TQ46Sq 875 8pj.jn AGE UK SHROPSHIRE TELFORD & WREKIN NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023 CONTINUED 9 ANALYSIS OF NET ASSETS BETWEEN FUNDS Tangible Quoted Nei CuThent Fixed Assets Investn*nls Assets Provisions Total Restricted Funds 344.864 Unrestricted Funds 99.147 419.320 816.351 59,OCM) 1,393.818 99.147 419.320 1.161,215 59,000 1.738.682 10 TRUSTEES REMUNERATION AND EXPENSES The Tfuslees are nol rerrlunera￿a. During the sear O {2022: 0) Insstees were reimbJrsed travel expenses of £Nil12022'. £Nill. Also an add[1Th￿l £Nil was repaKJ to tr￿tee$ for exFertses owrred during their voluntew a(IvocAte rol8 (2022: £Nil). 1 I STAFF The average monthly headcounl VRS 193 staff (2022.. 234) aTvJ the number of full time equNalent employEes (induding casual and part time staff) at the ￿ar eThJ ￿d5 made up as follow5:. 2023 2022 Chief Officer AdmIn￿tra￿￿ siaff Project Staff - indudes CAxe staff Home Supp)rt Wort(ers 31 42 70 86 2023 2022 Salaries and Wages Social Security Cosls Employers Pension Cosls Staff training 1.928.429 77,654 118,230 23.965 1.834.832 63.499 109.583 14.953 2.148.278 2.022.867 One12022: NIL) member of staff excess crf £60.(KKI in e￿￿￿j￿ents d￿Ing the sear. The key management personnel comprise of the Ch￿f ExecutNe offi￿r. Director of Operatbjns a Director of Finance thse tolal emyoJEe benefft5 wEre £150.73912022'. £140.265}. 49 AGE UK SHROPSHIRE TELFORD & WREKIN OTES TO THE ACC UNTS OR THE YEAR END MARCH 2023 CONTINUED 12 INVESTMENT INCOME 2022 Dividends Interest on Listed Inbestme Interest C￿ Cash DekX)Srts 12.162 7.903 11,995 2.292 20,065 14.287 13 LEGAL STATUS OF CHARITY The Charty is a Compwty knmrte(I by Guar￿ ana has no Share Cawi. The h"atsiity of exh member, in the event ot up. is limsted to £1. 14 FINANCIAL COMMITMENTS At 31 March 2023. the th*ity lod total cunmrfmerrts ￿lef Thjn (ancelat4e owatwig leases as detailed 2022 Operating leases ex￿[8. Wilhin (me year Between yEars Over 5 )£￿S 59,796 231,940 1%.0(Xl 30,715 37.785 487,736 68,$00 A new lease effective trom 1 Aw'l 2022 has been rela1￿ to the 841St(K￿ propety. 15 CORPORATION TAX The charity LS exempl from ccwxthn tax irmne ¥#J wns to the extent that these are applied to its d)arItab￿ ￿leCts. in aCCC￿darTrce wtth Part 11 of the Ccwati)n Taxes Acl 2010. 16 RECONCILIATION OF NET MOVEMEpif IN FUNDS TO NEf CASH FLOW FROM OPERATING AcnvmES 2023 2022 Net movemenl in ftjnts Add ba(* deprecialw)n charge IProfilVloss on %JisFosal of fixed assets Deduct interest income shTr￿ in invests'ng *ivil Dedud gain& Add losse5 inve51ment Deueasel{in(xeasel in st(￿k Deueasellinueasel in deb￿5 Increase/ldecreasel in cre051￿5 Increa5elldecreasel in pensK)n fu￿] deficii 229,401 45,155 155.387 24,539 (20,065) 16.933 1,719 746.119 149,107) 1436.OCQ) 114.2871 133,9991 8,698 194.7911 47.921 155.IXIOI Net cash provided by operaling activilies 65.845 38.466 50 AGE UK SHROPSHIRE TELFORO a WREKIN NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023 CONTINUED 17 PENSION The tharity operates a defirtl benefit pensTh s(*iane. Tr most recent aCti￿rial valuation was 31 March 2023. 21)23 2022 Employerfs Cl￿tributionS Employees, ¢onlnbulion5 4.376 3.401 4.876 3.766 Totsl rx)ntFit)ubons 7.777 8,642 2023 2022 Principal actuarial assumptions Rate of increase in salaries Rale of increase for pensic￿5 in pa￿￿t Discount fale for scheme liabilrtes Inflatp)n assuw4)tN)ns 4.75 3.60 2.80 2.70 The current mortality assumptKms alkAy￿ luture lmF￿£Ments in mortality rates. The assumed life expectatio￿ C￿ retireffent •Je 65 are: 2023 Years 2022 Years Retsring today -males -Females Reliting in 20 yEats -males -Females 24.5 25.1 23.5 24.1 26.7 The charitys sh¥e of the assets and liath.lilies in Ihe scJ)&ne expected rates of febjm v￿re. 2023 2022 Expected retum 2022 retum Fair Value Fair Value Equities Other boTrls Property Cash￿1quIdfy Oth 51.1 18.8 1.037.000 381.0 67,OLKI 10.000 50.6 18.9 1,134.000 423.000 83.1300 38,000 562.000 25.1 Totsl market value of assets Present value of benefil cbIwJatK￿S 2.028.0 1,969,OLYI 2.240.000 2,617.000 Net pensK)n asset l (liabilty) 59.OCKI 377.000 51 AGE UK SHROPSHIRE TELFORD & WREKIN NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2023 CONTINUED 17 PENSIONS CONTINUED Oper*ing costs and income recognised in the slalement of financial activities 2023 022 Financial expenditurel{iftcome) Interest on pension liabilities Inte￿$t on Plan assets 73.CXKi {62.OQO) 53,OiYJ (45,000) 11.000 8,OlXI Other expenditurel(income) Current serV￿e cost 24.(XJO 27.OlYJ Total operating chargel(income) 35.LYJO 35,OlJO Actuarial gains and losses included in the ststement of other ccmnprehensive income 2023 2022 Remeasurements -As5ets -Liabilities 202,( 669,000 {105,OIXI) 20.01)O 467,000 85,000 Movements in the present value of defined benefft obligations: 2023 2022 Opening defined LEnefft obligatic￿5 Currenl service cost Inlerest cost Contributions by employees Remeasuremenl (gainyloss cm assumptior Remeasurement exper*nc* gairU{k)ss) Benefits paKI {2.617.C¥JO) (24,(XlO) 173.000) 13,000) 799.000 {130.0(K)) 79,CyJ) 12.620,01)J) (27,OLIO) {53,000} 14,000) (13,000) (7,OlJO) 107,000 {1.969.000 2.617,01)O 52 AGE UK SHROPSHIRE TELFORD & WREKIN NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 AIARCH 2023 CONTINUED 17 PENSIONS CONTINUED Movements in the fair value of the charitys share d scheme assets: 2023 2022 Otening faiT value of 5theme a55ets Inlefesl on plan assets Remeasuremen15 ContribUt￿S by emthers COntribut￿lS by emtAoyees Benefrts paN# 2240.CWJO 62,C 1202.Crf)O) 4,CpJO 2.188.IXKI 45.oc 105.000 5.OCQ 179.CMIOI 1107.00) 2.028,Crt 2,240.OC Hlstrxy of eyience gains and bosses: 2023 2022 Present Wal￿ of defined t￿efit l￿tK￿ Fair value of shgre of s(theme assets 11.969.CMIOI 2.028.LKX) 12.617.OCQI 2,240.000 Surplusl (def￿) 377.OC(I 18 RELATED PARTY TRANSACTION During the ￿ar Shrr¢>shire partne￿ in tse Lld. SEtsan Robsoi (Cl￿r} is a dtfedor provided services to Age UK Shropshire TellLYd & Wrekin of £333 (2tr22.. £1.151 }. ChJtstatKltng as at 31 March 2023 was £NIL 12022.. £751 due to Shropsth Partness in C*e Lld. During the ￿￿[ Wate Ltd. of Zara a ￿1￿Clor sefvices relab.ng to the completion statetnenl for the lease of Age UK Shropslwe Teifotd & Wreknn's of £11612022.. £NIL). Outstanding as at 31 Maith 2023 4Yas £NIL 12022: £NIL) due to K%Jrgan Lt During the sear £2,CXJO12022: £NIL) vrds ￿¢th￿d from (Tntstee} fmm lundraisiThJ over the past Iwo ￿a￿s. 53 ageu JK Our new office Relocatin to Bellstone t many benefits Our offices I'.1 Shrewsbury Office Bellstono Sh rewsbu ry SYI IHX t01743 233 123 Hom e from Hospital, South Shropshire Room 50 Holona Lano House 20 Hamlot Rood Ludlow SY8 2NP t 01584 878 046 www.ageukstw.ory.uk Our professional advisors Bankers Barcloys Bank plc, Shrowsbury Auditors Dyko Yaxloy Limitod, Shrowsbury Solicitors Wace Morgon, Shrowsbury Y> Celebrating the Jubilee We marked the occasion with Shrewsbury Sch(x)I o work with and for older people to improve the quality of Icrter life, Ago IIK Shropshire Tolford & Wrokin Bollstono Sh rewsbu ry SYI I HX 01743 233 123 www.ageukstw.org.uk ￿(￿￿F&i￿Tdf0￿&w￿I￿is0￿￿rnt￿1eO)rwy￿Ml*Y￿Y9￿￿Tht*ond oThYWdes riy3￿￿(￿1￿ty￿knMb￿r I(y￿45 CorrFunyf4jrtEpC&292￿6 rbY"ste￿Offl(eis balstOr￿,￿ty.5￿￿th.R5Yl IHX