Shropshire TelFord & Wrekin Age UK Shropshire Telford & Wrekin Annual report of the Trustees and Financial state￿Ents year ￿dIng 31 M(ych 202 4 Company no. 04292896 ageuK 'L J*4•Q. Il Ir Celebrating the Lunar New Year Our day centres provide a weekly opportunity to meet friends Introduction Ouryear in numbers Our stratogic outcomes Campoigning Our setvices Our volunteers Fundraising Corporate governance Trustees and Principal Officers Financiol summary Audi tors report Financial statoments Our offices 10 12 14 18 20 24 26 28 32 38 55 Like many charities this has been a difficult year for us, we have had to balance the triple whammy of increasing demand, increasing costs and reduced volunteers, which has put pressure on many areas of the organisation, with waiting lists in some areas and an overall defic￿ budget forthis year. We therefore want to start with a thankyou to all who have supported us through this tricky year, those who have funded us, fu ndraised for us, helped us, believed in us, lobbied and campaigned for us. Ou r staff a nd voluntoors have workod ti rolossly, with passion and commitmont, to support and help our older people, especially thoso who aro lonely or isolatod, exporioncing poverty and hardship, vulnerable or noeding holp to romai n as indopondent os possible. Wo hope you will see from this report some of the fantastic work that they hcwe done and that you will continue to value and support us in our aims. Our conversations with the national Age UK about our future brand partnorship togother have continued and a lot of time has gone i nto dobate and discussion about what our future partnership should look like. We are a soparate indopendent chority, coveri ng Shropshiro and Tolford & Wrokin and rootod in our local communities, ond all our trustees are local people, but wo have strong links with the notional charity, especially around influencing and campaigning. During the year we have considerod our stratogic outcomes, which are highlighted throughout this report and during 2024 we would like to roviow thoso with our Sounding Board to sense check if they are still the right outcomes or if we need to change anything. Wo are proud of our reputation for We did not hold any Sounding Board worki ng in portnership with a wide meetings during 2023, instoad we range of organisations locally, docidod to focus our attontion on rogionally, ond nationally and we outroach work to try ond got out to, havo continuod to do this, in and engogowith, as many groups particular to roprosont the viows of and communities as possible. We oldor poople and the issues thoy ore also bogan to mako good use of our facing across tho county. Our Chair fantastic wi ndow spaco at our sits on the Age UK Notional Shrowsbury office in Bollstone to Influoncing Committee and has campaign and promoto different raisod a number of issuos, i n evonts during the year from LGBT particular the digital exclusion of H istory Mo nth to Volu ntoerg Week, oldor poople, which has boon as woll as holding a number of opon adoptod os a national campaign. days with othor partners such as the Wo continue to odd our voico to a cyber-crime unit. We now have a numbor of groups in the county, campaigns plan for the yoar and are including tho digital inclusion keen to got as many peoplo as notworks, Tolford Ageing Woll possiblo involved in our campaigning partnership board, domestic abuse and influencing work. forum and many moro. Wo also conti nuo to disseminate informotion Since our movo to Bollstono in 2022 on consultations or oroas of policy the numbors of pooplo visiti ng us has which impact on older peoplgs lives. incroasod stoadily and wo aro now closo to 1000 visitors a quortor. 01 Looking forward to tho coming year, courso, o largo proportion of what we wo havo a numbor of challonges. do is still seeing poople i n thoir own Wo nood to addross our doficit homos, which wo feel is essontial as budget and bring this back into it enablos us to provido holistic, wrap balanco, ond wo havo plans in place oround support. We aro also ploosed to addross this, whilst trying to to note that our volunteer numbers minimiso the impact on oldor poople, hovo continuod to riso slowly but staff ond voluntoors. A numbor of steadily, oftor tho initial loss ol our local authority fundod sorvicos around 300/0 at the start of tho are duo to be rotondored and wo will pondomic, and in somo aroos wo are bo working on those bids, mindful of back to pre-COVID levels and above. the significant financiol pressure that local authorities are under. We still have woiting lists for some setvices, ospocially bonofits advice and bofriending and, as the impact of the pandomic and cost of living crisis continues, wo do not anticipate Sue Robson, Chair of Trustees this will roduce in the short term. We & are constantly seeki ng external Heather Osbo rne, Chief Executive sourcos of funding wherover we can to help moet this demand and our incomo generotion toam ore doing a great job in mai ntaining this crucial focus. Thank you to all the businosses, organisations and individuals who hove supported us. manyyears of support he has given us. Sadly, this yoar we had to closo our Wellington shop, as the building was purchasod by Tolford & Wreki n Council as part of tho widor Wollington town centre regonoration. Dospito a yoar of looking, we were unable to find on affordoblo replacemont. This meons we have lost a voluable sourco of i ncomo which helpod koop seNicos in Telford & Wrokin oporating, so this will inevitably have an impact on Mthat we ore able to provide in the borough. For the coming yoorwe are not anticipating opening any now shops ond will review this in 2025. In closing wo would liko to thank all our voluntoors, without whom we simply could not function, and to givo a spocial thank you to our lon standi ng Patron, Sir Algernon Hebor- Porcy, who stood down from his role at our AGM in November, for the IJ Yii Women?s Walking Football Our new team went from strength to strength 1160,.. advocacy cases dealt with 64,182 hours of support provided by Help at Home Our trusted assessor fitted 472 pieces of equipment 0000 0000 0000 376 attendances at our dementia support respite sessions 11,577 attendances at our wellbeing and activity groups 22,,, centres supported across the county 131 Lasting Powers of Attorney completed £4m l/ in additional benefits raised for local older people Over 22,000 website visitors seeking information and advice 125 people called by our telephone buddies every week - - - - - - - ✓ - service to assist older technology; and - • Increasing our wellbeing and working with others to activities that keep older independent, fit and active. ✓ - - - - - - - - - - - supporting nationwide campaigns; Broadening our outreach work and engagementwith older people; Participating within the Age UK family to create a stronger voice and learn from other Age UKs across the country; - - ✓ ✓ Well informed older people Campaigning 'Without your help and assistance I would never had made a claim for anything., We continue to campaign on issues which affect older people both locally and nationally and to use ourvoice to influence decision makers about things which impact on older people Itves. Our Chair sits on the national Age UK Influencing Com mittoe and is able to raise local issues in a national arena. Two key areas we hcwe conti nued to lobby and campaign on during the past yeor are Digital Exclusion and Cost of Living. Client feedback We have a strong online presence to shore information relevant to older poople and our windows at our Shrewsbury office have proved to be a great resource for sharing messages from ourselves and other partners. Slrategic outcome Roducing the nsk ot loneliness and isolation Optimising independence and wellbeing Well informed older people can assert their rights Older people's voices heard on seNices and issues 12 Bolow is just o small example of some of the activities we undertook: Volunteersl Week. volu nteer open day, full window disploy, promotion on social modia, press, radi o interviews with B BC Radio Sh ropshire. Loneliness Awareness Week public scrooning OIAII the Lonely Pa)ple ot The Hive, Shrewsbury. LGBT History Month. partnored with SAND/History Fostival and Grain projects to display portraits by Ming do Nosty in our window (as part of a Shrewsbury wide exhibition). Lunar New Year. built o now rolationship with the Chinoso Culturol Centro i n Telford and attended their Chinese New Year event. Carers Day: window display by the Shropshire Council Carers team. Open days with local partners offoring Information and advice on assistivo technology, winterwarmth and scams awareness. Promoted the consultation on Tolford & Wreki n Council's Adult Social Care charging policies i n July 2023. 13 - COVID 19, global unrest, anda crippling cost of living crisis. For older people the latter is still a huge issue: whilst itis true that inflation slowed last year, retail prices were still significantly higher than they had been prior to these events. That many areas we saw our activity levels - to pre pandemic levels, which Is really ## Strategic outcome **----- Start of picture text -----**
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Thoro woro a number of notoworthy highlights last yoor that demonstroto both the scalo ond broadth of services our staff ond volunteers deliver. U nsurprisi ngly Information & Advice sorvices woro in vory high demand again and our Benefits advice toom brought in on astonishing £4million in ogo-rolatod bonofits, tho first time we hove over reached this londmork figure. Our roceptio n toa m deolt with, on average, over a thousand visitors to our Bollstono office oach quarter last yoar, mony of them with multiple issue or queries thot the team expertly handled. In addition wo doublod tho numbor of older poople our Digital Inclusion officor supportod to boco mo digi tally active and ou r Lasting Power of Atlorney casos incroosod by 60010. A noto, also, about our team of Advocacy staff and volu ntoers. thei r cosoload is back to p ro-COVJD levels, up by over a fifth comporod to the previous year, but with fower staff and volunteers and less funding. OurHelp at HomesoNico focod its most challonging yoar to dato with the implomontation of now contracts for our Home Support Workers, providing thom with employment security and guarantood hours. This has required some root ond branch chonges to tho way the sorvice is ru n, a massivo task fo r the team. Dospite those operational challongos over 1,200 oldor poople recoivod a service during the yoar, holpi ng them to remain independent i n their own homes. 15 Our services (continued) Despite providing over 7,000 voluntooring hours, our Friendship Support sepJice again strugglod to koop poco with domond. The visiting befrionders and tolophone buddies can bo a rool lifeline for socially isolotod older pooplo and we aro constantly on the lookout for new volunteers. Ourwellbeing sorvices had a hugely succosslul year, with ovor 11,500 ottendancos at our activity groups, an increase of 28 %. Theyalso introducod some lovely now opportunities: women's walking football i n Shrowsbury, a merfs Brookfast Club in Telford ond a chess club in Ludlow. Our22 Da centres providod places for300 01 er pooplo oach week to moot cjnd socialiso, whilst our Demenlia support groups sow attendances grow by noarly 10 % , including a new group in Bishops Castle. Plans ore also undorway to bogin a Walking Tennis group, onothor oxciting innovotion to provido as wido a va ri ety of opportunities for older people os we can. 16 •4 Support for carers Our Still Caring group meet regularly to socialise Our volunteers Your volunteer spent a long time going into detail We say it every year and we will never tire of saying it" volunteering sits at the heart of everything we do at Age UK Shropshire Telford & Wrekin and we could not operate without our team of amazing volunteers. Whether it's helping someone to get online or to apply for an ottondance allowance, supporting a when helping person with dementia orvisiting isolated or me to fill out lonely older people to keep thom socially connoctod, voluntoers are the lifeblood of the the form, and charity. achieved the result I wanted., Client feedback Slrategic outcome Roducing the nsk ot loneliness and isolation Optimising independence and wellbeing Well informed older people can assert their rights Older people's voices heard on seNices and issues 18 Volunteor rocruitmont has changod, and it may novor get back to the lovol wo onjoyod p re- pandemic. For example, in 2018119 wo procossed 650 voluntoering enquiries, appointing about a quorter of thom. In 2023124, we roceivod 2 61 enquiries a nd succossfully rocruited almost a third ol them. So, whilo oxprossions of intorost ore far fewer ou r co nve rsi on rate has improved. Tho change has occurrod on both tho domand and supply sides. wo undorstand why fewer pooplo are coming forward (largoly duo to the cost of living crisis), but our voluntooring opportunitios hovo also changod. For example, wo now have far fewor day centros, which traditionally required o lorge number ol volunteers. Bofrionding remains our most popular area for voluntoering, os woll as the area with highost domand. As montionod proviously, wo hcNe a waiti ng list for Iriondship support and have workod hord to fi nd innovotivo ways to attract now voluntoers. The good nows is that tho trond in oxprossions of intorost seoms to bo improving; wo had twice the numbor of onquirios in the fourth quarter comparod to tho first quartor, which suggosts that people still recognise the benefits of volunt&ring. 19 Fundraising 34% Age UK Shropshire Telford & Wrekin is a local indeFendent charity, and our donations are all used to support older people across the county. The organisation is registered with the Fundraising Regulator, and we adhere to their standards of fu ndraising. Our Income Goneration Strategy is reviewed annually by the trustoes and oversoon by our Income & Communications Committee. We have not usod any external fundraising organisations in this year, othor than our North Shropshire Supportors group who have continued to do a fantastic job of fundraising for us in the north of the county. increase in income from regular donors 454 one off donations received £24,965 left to our organisation in legacies We have had no complaints or concerns raisod i n the last year about our fundraising and we continuo to ensuro that wo are not only compliont with tho Fundraising Regulotors rules, but that wo comply with all tho rolovont data protoction legislation ond only contact people about fundraising and campaigning if they hcr￿e agrood that wo can. Slrategic outcome Roducing the nsk ot loneliness and isolation Optimising independence and wellbeing Well informed older people can assert their rights Older people's voices heard on seNices and issues 20 Tho curront climate for fundraising is challenging, with a roduction i n donations and grant income roportod nationally. Howover, thanks to tho dediccjtion of our fantastic income goneration team, wo bucked the nationol trend with an incroose of 340k in our regular donors and 0 200k increase i n tho numbor of ono-off donations. Wo are incrodibly gratoful to ovory si nglo one of them and all of it is spont locally. We conti nue to use digitol lundraising os onothor way to roach out to pooplo to encourage them to support our work and activities. Wo wore successful i n applying for additionol grant funding and raised over £97,000 in extornal grants from a range of funders. These grants tond to be for specific projects such as extra Cost of Living support from Ago UK or funding lor our work in south Shropshiro from the Masonic Foundation ond so is not unrostricted i ncome. Theso grants make a significant difforonce to the lives of older people in the county and helps us reoch more people. Wo hold our first fundraising evont since the pandomic, Carry on Canoeing on the River Severn in Shrowsbury, which was enormous fun and raised £550. Thanks to Julos Convenionco who sponsored goodio bags and prizes and the British Ironworks who donated an afternoon tea voucher. Our much-missodAftornoon of Entortainment event returned this yoar. Thonk you to the many companios who donated raffle prizes such as Tolford Thoatro, Dobbies Tolford, and Tho Apley Arms. Sadly, wo will not bo able to hold this evont noxt yoar due to tho tomporary closure of Oakongates Thootre for refurbishment. We hope to return once the new venue opens. 21 Fundraising (continued) We have been working hord to At the end of this year we also said incroase our rolationships with local goodbyo to our excollont Hoad of companios and corporato sponsors. Fundraisi ng Cathorino Mc Cloy, who Dobbios in Tolford kindly donatod a movod on to an exciting now role. boautiful display for our Bellstone Sinco 2019, under Catherine's offico v￿1ndoW for the flower show loadorship, our very small Income and gifts for other ovonts and wo Generation team havo raisod over have developod a fruitfijl partnorship £1.2 m in income to holp grow ond with Rl Construction, who raisod expand our support to older people ovor £4000 ot Christmos to support in the county. local older poople. Thoy also put togothor and dolivored 300 Christmas gift bags for our day centro members across Tolford and Shropshiro. We aro continuing to dovolop these rolationships and Rl continue to support us in the run up to our 75th birthday in 2025. Given that we no longor havo any rotail, and ore looking forward to our 75th birthday in 2025 when wo hope to roiso additional funds to support our Se￿Ic0S that alloviato lonoliness, we aro taking tho coming year to consolidato and reviow our Income Generotion team and activities. Sadly, dospito many attempts to fi nd on altornotive, at tho ond of March Wo hove a strong ambition to wo had to closo our Wollington shop incrooso our income generation ofter oight yoars. This was duo to activities to allow us to moot tho the promises boing purchased by the ever-increasing demand and nood council for redovolopmont and so we for our SO￿lC@S. As an organisation hod to loavo. Wo would like to givo wo neod to grow by at loast 5 1 a thanks to all the voluntoors and staff yoarjust to moot demographic who workod so hard i n tho shop as it growth, beforo wo consider increased was a groat succoss and gonerotod o costs and noods; our income significant incomo, which wo used to goneration holps us to do this and support oldor people in Tolford Wo will conti nue to be a key priority lor woro vory sad to soo it go, not loast us. bocause we have nothing to roplace that income. Wo have no retail shops now and havo no plans to open any new ones for the coming yea r. 22 shire Fundraising Ckjr Carry On Canoeing event was a stylish success Corporate governance How we are run amount not exceeding £1 to the Age UK Shropshiro Tolford & Wrokin is assots of the company in the event a charity constitutod as a company of wi nding up. limitod by guarontoo (rogistorod chority number: 1090445, registered Trustoos soNe Age UK Shropshire company number: 04292896). Telford & Wrekin as volunteors and receive no romuneration. They come Ago UK Shropshiro Tolford & Wrokin is from o variety of backgrounds and a brand partnor of tho notional Ago bring o wide rango of skills and UK charity. Ago UK supports Ago UK exporionce to tho board including Shropshi ro Tolford & Wrokin through undorstanding tho needs of older its marketi ng and campaigning peoplo, and ossontial business and activitios, and offors odvico ond managomont expertise. The support, including information and trusteos havo ulti mote responsibility advico rosourcos. Wo aro still in for directing tho affairs of the charity ongoing consultation about our and ensuring that it is solvont, well futuro brand partnorship ogroomont run, dolivoring public benofit and with Ago UK. This has been ongoing mooting the choritoblo objects for for some time now andwe hopewill which it has been established. be concluded soon. Doy to day oporational docisions are takon by the Chiol Exocutivo ond the stoff of the organisotion, within tho dologated authority conferrod by the board. The board has a cleor scheme of dologotion, updatod annually, to clarify thoso authorities, in line with The board meots a minimum of four good practice. times a yoar. Thoro ore throe formal committoos: Finonce & Audit, A skills audit and fiJll induction se￿Ic@s and Incomo & procoss is in placo for all now Communications. Each committee is trustoos ond furthor ongoi ng training choirod by a trustoo who roports on tho wider ospocts of tho directly to tho full board of trustees organisation and trustooship is at board meetings. offerod on a rogular basis to develop trustees, skills and knowledge. Ou r co-optod trustoo Dovid Coull bocamo a full trustoo in Novomber 2023 and two now trusteos, Bolbiro Kour and Amarjit Bansi, joined us in June 2023 as co-optees. Wo currently havo 60 mombers. Thoro is no momborship foo. Our objocts are set out in our Articles members guorantee to contribute an of Association. The charity exists to 24 assist older poople who live i n e) to promote and carry out, or assist Shropshire and Tolford & Wrokin who in promoting and carrying out, are i n neod by reason of ill hoalth, survoys, i nvostigatio ns and rosearch; disability, financial hardship, social exclusion or other disadvantage. 0 to arrange and provido for, orjoi n i n arranging and providing for, the holding of exhibitions, mootings, lectures, classes and training courses. Our koy activities are also set out in our Articles. They ore: a) to encourage, promote and organise direct seNices appropriate Public benefit to the neods of individual older In setting plans and prioritios for people or groups ololder people ond aroos of work, tho trustoos of Age UK If thought fit to make reasonable charges for ony setvices provided Shropshiro Tolford & Wrokin hovo had hereunder; duo rogord to guidonco from tho Charity Commission on tho provision of public bonofiL Charitios aro roquirod to oxom i no thoir objocts and activitios to ensuro that thoy moot tho public bonofit roquiromont and that thoir activitios domonstrate and can moasuro how thoy havo done this. Tho board reviow this annually at thoir June mooting and are sotisfiod that our activities still moot tho public bonofit roquirements. In particulor, trustoos fool our ongoing pandemic ond cost of living crisis response has met this c) to establish, support, undortake or need robustly. execute ony charitable trusts, organisations or i nstitutions formed for all or ony of the objects; Risk assessment It is tho policy of Ago UK Shropshire Tolford & Wrokin thot trustoos rogulorly roviow all risks facod by the charity, and have robust businoss continuity plans in ploce. This is on ongoing process which is ovorsoen by the Fi nance & Audit Committee. b) to promote and organise co-operation in the achievement of the objects and to that end to support, join i n with and c(>operate with other charitios, voluntary bodies, statutory authorities and other organisations operoting i n furthorance of the objects or of si milar charitable purposes and to exchange i nformotion and advice with them; d) to establish or acquire subsidiary componies to assist or oct as agonts for the charity. 25 - - The board maintain an up to date Gurbax Kaur Dave Robson Natalie Headley Nicola Crosby ## Age UK STW Trading Ltd Gina Spencer - the next annual general meetingin — 1 co opted 13 June 2023 i).1 Men?s Breakfast Club Post pandemic, we're providing new activities and opportunities Financial summary Accounts 2023124 Total Income £2,855,342 * Donations, Gifts and Legocies £90,45413%1 • Furxlroigng ond Events E36.510 11%1 • Cironts £1.490.281152%1 • Cliont Foes £1.136,300141yhl • Retoil £63,53612%1 Inve5lment £27,39411%1 • i)ther £10.32710%) This financial yoar hos boon financially challenging, however by tho yoar ondAgo UK Shropshire Tolford & Wrekin wore able to significantly roduce the forocost doficit, duo to intornol cost diligence, and external factors. and hod to hand the tenancy back in March 2024. Tolford & Wroki n Council owardod Ago UK Shropshire Telford & Wrekin a £34,000 compensation payment post closure. During tho yoar, Ago UK Shropshire Tolford & Wrekin hold a numbor of External factors includod the socond Stratogic mootings to roviow and consocutivo yoar ond goin on the analyso tho fi noncial picture ond Loccjl Govornmont Ponsion Schome outlook for the orgonisation; (LGPS) of which Ago UK Shropshire reviowing the impact of tho failing Tolford & Wroki n hovo threo active economy, high inflation and Notional staff subscribed into the scheme. Minimum Wage (NMW) incroosos. As This fund roalisod a £59,000 gcjin i n a charity, wo aim to keep the foos as 2022123 and a furthor £130,000 gain low as possiblo for our customors to this financial yoor rosulting in o enablo o high tako up of our sorvices, surplus LGFS bolanco of £189,000 i n andwhilst moro than 50 % of our total, roduci ng tho balance sheet soNices are froo at tho point of deficit by this amount. dolivory, it is during those financially challonging times Ago UK Shropshire In addition, Tolford & Wroki n Council Tolford & Wrokin must utilise thoir govo Ago UK Shropshiro Tolford & rosoNos for this purposo ond also Wrokin notico to vacato the furniture reignite the fundraising strategy. shop promisos in Wollington, to enablo the council to continue their planned rogonoration works in the town. Aftor visiting many units in key oroos in Tolford, Ago UK Shropshiro Tolford & Wrokin woro sadly, unablo to fi nd suitable alternative premises Income decroasod 0.50h on the previous yeor to £2,855,342. Due to the intornal cost improvomont plan, the oxpenditure remoined static with just a 0.25 % 28 Total Expenditure £3,066,805 Charltubte ActiVTtie5 £2.909,073195%1 •Fundr0151ng ond Rfttoil £157,73215W incroase to £3,066,805. As per SORP lovel agreements ond grants were ond FRS 102 accounting rulos, the lowor than cost increosos for tho invostmont and ponsion gain has charity and consequently resulted in reduced tho ovorall accounting ond deficits. balance sheet loss to £43,871. With a cost improvement plan i mplementod by board and sonior manogors, Age UK Shropshiro Telford & Wrekin has (os ot Juno 2024) approved a budgot for this coming Total funds at tho yoar ond have finonciol year that breaks evon. reducod to £1,694,811 (from howevor this is vory much reliant £1,738,682 in 2022123) of which upon fundi ng applications to sustai n £1,036,908 consists of restricted ond existing setvices. dosignotod rosorvos. tho pension rosopJe of £189,000 is also shown for Age UK Shropshire Tellord & Wrokin clarity. still rotai n hoalthy rosorves to act os a safogua rd to sustain koy SOr￿1c0S whore needod by our older rosidonts and tho com munitios in Shropshire andTelford & Wrekin. Tho board and sonior managors are mi ndful that thoso resorvos will not last forever and prudent financial planning is key. Of the total expondituro, 95 % was spont on charitable activitios, and 5 % on retoil and fundraising. Forward thinking With the 9.7 % incrooso in the Notional Minimum Wago from April 2024 and tho i nflationory increoses ocross oporati ng costs, it goos without saying that tho charity has exporioncod difficult and challenging timos trying to roduco costs for The launch of Windows I l in 2025, sorvicos for tho 2024125 budgot plan. has allowod strotogi c forolard Ago UK Shropshiro Tolford & Wrokin thinking to beat tho queues and price hovo not increasod the foes by the incroasos by upgrading our IT NMW inflationary increase, howovor infrastructure in 2024, utilisi ng the IT contractual increases on our service development reserves for this 29 purpose. With tho 75th birthday of Age UK Shropshire Tolford & Wrokin on the horizon, funds havo also boon dosignotod towards a colobratory fundraising campaign and ovont raising tho profilo oltho charity and increasing charitable funds. charitable company for that period. In proparing thoso financial statomonts, tho trustoes are required to: soloct suitable accounting policies and then apply them consistontly; observe tho mothods and principles in the Charitios Statoment of Recommended Practico (SORP). Audilors makojudgomonts and accounting A resolution will bo proposod at the estimates that are reasonable and Annual Goneral Mooting that Soyer prudont; Vincont will be appointed as auditors • State whothor applicable UK for the ensuing year. Accounting Stondords havo boon followod, subjoct to any motorial Statement of trustees. dopartures disdosod and explained responsibilities in the fi nanciol statemonts, and Tho trustoos (who aro also diroctors prepore the financial stotoments on of Ago UK Shropshiro Tellord & the going concorn basis unloss it is Wroki n for tho purposos of company inoppropriote to presume that tho law) oro rosponsible for proporing the charitable company will continue i n trustoos, roport (inco rporcjting tho business. stratogic roport and directo rs, repo rt) and tho financial statomonts i n The trustoes are rosponsiblo for accordanco with applicable low ond mai ntoining propor accounting Unitod Kingdom Accounting records which discloso with standards, i ncluding Financial roasonable accuracy at any timo the Roporting Standard 102: The fi nancial position of tho charitable Financial Roporting Standard company and enoblo them to onsure opplicable in tho UK and Ropublic of that the financial stotomonts comply Ireland (Unitod Kingdom Gonerally with the Componios Act 2006. Thoy Accepted Accou nti ng Practice). aro also rosponsiblo for safeguarding tho assets of tho choritoble company Company low roquiros tho trustees to and honco for taking reasonable propore financial statoments for stops for tho prevention and each finonciol yoar which givo a true dotoction of fraud and other and fair viow of tho state of affairs of irregularities. the charitoblo company and of the income ond expenditure, of the 30 In so far as the trustees are aware: thore is no relovant audit i nformation of which the charitable compony's auditors ore unaware. and tho trusteos have takon all st4)s that thoy ought to hove token to make themsolvos uwore of any rolovant audit information and to establish that the auditors are aware of that information. Tho trustoos are responsible for the mointonanco and intogrity of tho corporate and finonciol information includod on tho charitablo company's wobsite. Logislation i n the Unitod Kingdom governing the proparation and dissemination of financial statements may differ from legislation in otherjurisdictions. Il I Approvod by the trusteos on 10 Soptombor 2024 ond signed on their beholf by: SL355-_ Suo Robson Chair olTrustee Board A full sot of accounts can be obtainod from: Gi na Sponcer, Director of fi nance t01743 233 123 e gina.spencer@ageukstw.org.uk Volunteer recruitment Outreach days helped raise awareness Auditor's Report Independent auditorfs report on the financial statements to the members of Age UK Shropshire Telford & Wrekin Opinion standards on Auditing (UK) (ISAS Wo hovo auditod tho fi nanciol (UK)) and applicable law. Our statomonts of Ago UK Shropshire responsibilities undor those Tolfo rd & Wrokin (tho 'Cha ritable standards aro furthor doscribed in Company,) for the year ended 31 tho Auditor's responsibilitios for the March 2024 which compriso of tho audit of the fi nancial statoments stotomont of Financial Activities, the Section of our report. Wo are Bolanco Shoot, the Statoment of indopendent of tho charitablo Cash Flows and notos to tho financial company in accordanco with the statomonts, i ncluding significant ethical roquirements that aro occounting policios. Tho fi nanciol rolovont to our audit of tho financial reporting framework that has been statomonts in the UK, including tho appliod in thoir propcjration is FRC'S Ethical Standard, and we have opplicable law and Unitod Kingdom fulfillod our other ethical Accou nti ng Stonda rds, i ncluding rosponsibilities in accordanco with Financial Roporting Standard 102: these roquirements. Wo beliovo that Tho Financial Roporting Standard the audit ovidonce wo hcr￿@ obtained opplicable in tho UK and Ropublic of is sufficient ond oppropriato to Ireland (Unitod Kingdom Gonerally provide o basis for our opinion. Accepted Accou nti ng Practice). Conclusions relating to going In our opinion, the fi nancial concern statemonts: In auditing the financiol statomonts, givo a truo and fair viow of tho state we havo concluded that tho trustees, of tho choritablo compony's affai rs use of the going concorn basis of as at31 March 2024 and of its accounting in tho proparation of the incoming rosourcos and application finonciol statements is oppropriate. of rosourcos for tho yoar thon ended; hovo boon properly proparod i n occordanco with Unitod Kingdom Gonorally Accepted Accounti ng Proctico. and hovo boon proporod in accordance with tho roquiromonts of the Companies Act 2006. Basod on tho work wo havo porformod, we hovo not idontifiod any material uncortointios roloting to events or conditions that, individually or colloctivoly, may cast significont doubt on tho charitable componls ability to continuo os o going concern for o poriod olat loast twolve months from when tho finoncial statements ore authorised for issue. Basis for opinion We conductod our oudit i n accordance with Internotionol 32 Our responsibilities and tr)e rosponsibilitios ol tho trustoes with rospect to going concern are doscribod i n the relevant sections of this report. misstatement of this other information, we aro roquirod to roport thot fact. We havo nothing to roport in this rogard. Opinions on other matters Other information prescribed by the Companies Act Tho othor information comprisos the 2006 i nformation includod in tho trustees, In our opinion, bosod on tho work annual roport, othor than the undortoken in the course of the financial stotomonts and our audit: auditorfs roport thoroon. Tho tho i nformation givon in tho trustoos ore rosponsiblo for the other trustoos, report, which i ncludos the information contained within tho di rectors, roport proparod fo r tho annual roport. Our opinion on the purposos of company law for tho finoncial statomonts doos not covor finonciol yoar for which the financial tho othor information and, oxcopt to statomonts aro proparod is tho extont othorwise oxplicitly stotod consistont with the financial in our roport, we do not express any statemonts. and form of assurance conclusion tho diroctors, roport included within thereon. tho trustoes, roport hos boon proparod in accordanco with Our rosponsibility is to road the other applicable legal requirements. information and, in doing so, considor whether tho other Matters on which we are required inlormotion is matorially inconsistent to reporl by exception with tho fi noncial statomonts or our knowlodgo obtainod in tho audit or In tho light of tho knowlodgo and othorwise appoors to bo materially undorstonding of tho charitable misstatod. If wo idontify such company and its environmont obtoi nod in tho courso ol tho oudit, matoriol inconsistoncios or apparent wo hovo not idontifiod matoriol motorial misstatomonts, wo oro misstatemonts in tho diroctors, roquirod to determino whothor this ropo rt i ncluded within the trusteeg givos rise to a motorial misstotement report. i n tho financial statomonts or a matoriol misstotomont of tho other i nformotion. If, basod on tho work wo have performod, we conclude that there is a material Wo h￿Q nothing to roport in rospoct of tho following mattors whoro tho Companios Act 2006 requiros us to report to you if, in our opinion: 33 odoquate accou nting records have not boon kept or retu rns adoquate for our audit h￿e not boon rocoived from branches not visitod by us; tho fi nanciol statements aro not i n agrooment v￿1th the accounting records and roturns; cortoi n disclosuros of trustoog remunoration specified by law are not made; . we have not rocoived all the information and oxplonations we require for our audit. or the trustoos were not ontitlod to preparo tho financial statements i n Auditor's responsibilities for the accordance with the smcjll audit of the financial slatements companies regime and toke advantage of tho small companies Our objoctives oro to obtoi n roasonoble assuranco about whother exomption in proparing the directors, the financial stotomonts as a whole report and tako advantage of the aro froo from matorial misstatomont, small companios oxomption from whether duo to froud or orror, and to tho r4uirement to prepare a strategic report. issuo an ouditor's roport thot includos our opinion. Roasonable assurance is a high lovel ol Responsibilities of the trustees assuranco, but is not a guarantee As oxplainod moro fully in the that on audit conducted i n trustoos, responsibilitios statement, accordonco with ISAS (UK) will tho trustoos (who aro also the always dotoct a motorial diroctors of tho charitablo company misstotomont when it oxists. for tho purposos of compony law) Misstatemonts can ariso from fraud ore rosponsiblo for tho preparation of or orror and are considorod material tho financial statomonts and for if, individuolly or in the aggregate, boing sotisfiod that they givo a true they could roosonably bo expoctod ond fair viow, and lor such intornal to influenco the oconomic docisions control as tho trustoos dotermino is of usors takon on the basis of these nocessary to onoblo tho proparation financial statements. of fi nancial statomonts that are free from matorial misstatoment, whether due to fraud or error. In preparing the financial stotomonts, the trustoes are rosponsiblo for assessing the charitoble company's ability to continue as a going concorn, disclosing, as applicable, motters roloted to going concorn and using the going concern basis of accounting unloss the trustoos oither intend to liquidato tho charitable company or to ceaso oporotions, or have no realistic alternative but to do so. The extont to which our procedures are capable of detecting 34 i rregularities, includi ng fraud is dotoilod below. and UK tax legislation. Our tosts includod agrooing tho financial statoment disclosuros to undorlying supporting documontation and enquiries with management. Irregularities including fraud Irreguloritios, including froud, aro instancos of non-complianco with laws and rogulations. Wo design procoduros i n lino with our responsibilitios, outli nod abovo, to dotoct material misstatemonts i n rospoct of irregulorities, including fioud. Thoro are inhorent limitations in the audit procoduros doscribed above and, tho further romovod non- complionco with Icjws and rogulotions is from tho ovonts and transactions roflected in tho financiol stotemonts, tho loss likely we would become aware of it. Wo gained on undorstanding of the legal and roguloto ry fram owork opplicablo to the charitoblo company Wo did not idontify any koy oudit ond tho industry in which it oporatQS, matters rolating to irregularities, ond considorod tho risk of acts by the including fraud. choritoblo company that wore contrary to applicablo lows and regulations, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including tosting journals and evaluating whother there was evidence of bios by the trustoos that represented a risk of material misstatement due to froud. We designed audit procodures to respond to the risk, recognising that the risk of not dotecting a material misstatomont due to fraud is higher thon the risk of not dotocting one rosulti ng from error, as fraud may involve doliborate concealmont by, for example, forgery or intentional misrepresentotions, or through collusion. A furthor doscription of our rosponsibilities for the audit of the finonciol stotomonts is locotod on tho Financial Reporting Council's wobsito ot: We focussed on laws and regulations frc.org.uklauditorsresponsibilities which could give riso to a matorial misstatomont in tho fi noncial This description forms part of our statemonts, i ncluding, but not auditor's report. limited to, the Companies Act 2006 35 Use of our report This roport is mado solely to the compcjny's mombors, as a body, in accordanco with soction 391 of tho Companies Act 2014. Our audit work hos boon undortoken so that we might stato to the componls mombors those mattors we ore requirod to stato to thom in an auditorfs report and for no other purposo. To tho fullost extont permittod by law, wo do not accopt or assume rosponsibility to anyone othor than the companls membors as a body, for our audit work, for this report, or loi the opinions we h￿Q formed. 14d. stacy Lea Director Forondon bohalf of Dyko Yoxloy Li mitod Chartorod Accountants stotutory Auditor r4 l Brassoy Road Old Potts Way Sh rewsbury Dated 10 September 2024 Dementia support t)obbies donated flowers to our respite group 36 Thanks to all our funders and donors Ago UK Bomore Hoath Ladies Club British Ironworks Catorpillar Foundation Clarks LLP E.On Ellesmere Colloge Hiro A Canoe, Shrowsbury ICS Shropshire, Tolford & Wrekin Jules Convenience Kotloy Coffee Club Madoloy Day Centre Maeflower Dancers Masonic Charitable Foundation Fundraising policy and practice Our approach is to be logal, open, Millichope Foundation honest and respectful in all our Much Wonlock Day Contre fundraising activities. Wo do not Nationwide Community Grant engage in fundraising that might North Shropshire Supporters Group involve unreasonablo intrusion on a Pavers Charitable Foundation person's privacy or is unreasonably persistont. Funds raisod for a Ponguin Electrical Solutions particular octivity are usod for that Rl Construction activity and our accounting system is Rosidents Association of Broton Park dosigned to provido for this through Safor & Stronger Com munities Fund, a system of accounts for restrictod Tolfo rd funds. Ago UK Shropshiro Tolford & Wrokin does not share its contoct Solon XV databaso with third porties and does Shrewsbury Hard of Hearing Group not uso Iroelanco fundraisors. Shrewsbury School ShrewsburyTangont Club Sh rowsbury Walki ng Football Club Shropshire Council Shropshire County Federotion Wl st. Alkmund's Parish Church Tellord & Wrekin Council The Utloy Foundation University Centre Shrowsbury Wace Morgan Wolshampton Mothodist Church Wynn Foundation Various local Town and Parish Councils Thanks also to tho many individual donors and fundraisers who make our work possible. We thank you all so muchl 37 AGE UK SHROPSHIRE TELFORD & WREKIM STATEMENT OF FW4ANCIAL ACTMTIES INCLUDING INCOME AND EXPENDITURE ACCOUN FOR THE YEAR ENDED 31 MARCH 2024 Funds Total 2024 Tot212023 Incgme DonatK)ns. Gifts & L(yJ8¢XS Fundraising arKJ Events 64.510 36.472 90,454 36.510 96,793 5.025 In(a)me from charilatAe activities Grants 537.n8 952.543 1.493281 1.501.234 clip.nl Fees (Lfving Well. DemenlJ"a & Help @ Home) 1.057.610 1.136.300 1.137.423 In(x)me from othei tr&Ji Re.tail IrKxMne oth￿ Inccffie 63.536 10,327 108.677 10,307 Investmenl 12 27.934 27.934 20.065 Total Incom• 1.787,820 1,067.522 2,855,342 2,869,217 Ex nditur• Furidraising ir￿ling. (x)sts of luNlraising 8nd reta 157.732 157.732 158,437 Charitable ￿tiVItIeS 1.791.527 1.117.546 2,￿9.073 2.g(x).446 Total •xp•nditur• 1.949259 1.117,546 3,066.806 3,058,883 Gains l (losses) on inveslffth &sseis 37.592 37.592 (16.933) incxxnel(expenditure) before other reccgnised gains arKI losses (123,847) (50.024) (173,871) 1206.699 Transfers be1kn￿ fU￿lS Acluaiial gansl(k)sses) c¥) d8fin&l benefit schemo (29.tYJ9) 130.CXX) 130.(KKJ 436.000 Net movemenl in funds (22.946) (20.925) (43.871) 229,401 Toial funds broughl forward 1.393.818 1.738.682 1.509.281 Total funds GqfTied fcwd 1.370.872 323.939 1.694,811 1,738,682 38 AGE UK SHROPSHIRE TELFORD & WREKIN NOTES 2024 2023 FIXED ASSETS Tangible Assets Investrnents 2.S37 4￿,912 99,147 419,320 TOTAL FIXED ASSET8 519.449 518.467 URRENT ASSETS Slocks Debtors Cash at Bank and n HaThJ 15,705 82,881 1.230.531 116.786 1.039.161 OTAL CURRENT ASSETS 1.155.947 1.329.117 UABIUTIE8 Ciedilors Amounts FaUirvJ t Wilhin One Ye 1￿.585 167.￿2 NET CURRENT ASSETS 1,161,215 TOTAL ASSETS LESS CURRENT LIABiunES 1.505.811 1,679.682 Defined Benefrt Ponsm A&8eVLiatNIty 17 (189.(MXI) (59.CMJo) OT NET ASSETS 1.694.811 1,738,682 THE FUNDS OF THE CHARITY Dosig1i8t(¥J Fijnds Unrestn'cled Funds 712.969 657.￿ 718,974 674.844 Tot81 Unrestrict￿1 FWKIS 1.370.872 1.393.818 Reslricted FurKIs otal Funds 1.694.811 1,738.682 These financkil 51alemenls have twi [xe[￿red at¥kntAe lo c(￿¥￿nIeS subject to the small u)mpatMes re9ff￿ vrflhm P￿1 15 of ts C(xry)rn5 Ad 2£￿. The FinarNial staler￿ts were ￿0¥￿1 by ￿ B(wd d Tn￿8 ￿ 10 September 2024 thw'r bohalf by: Sue Robson Chair 39 AGE UK SHROPSHIRE TELFORD & WREKIN STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Cash llows from CW&ing ac11￿. 16 213.977 63.317 Cash flows from inv•sting a¢tivili•s Int￿est Income Purchase of tangit4e fixed assets Sale of langible fixed assets 27.934 (13.027) 7,7(K) 20,065 (112.723) N•t cash provid•d by (us•d in) inv•sting activits 22,￿7 (92.658) In¢r•as• (d•¢r•as•) in ¢ash and ¢ash •quival•rts in th• y•¥ (191,370) (166,975) Cash and cash e(yJivalents al Ihe 1230,531 1.386.506 Cash and Cash •quival•rts at th• •nd ol th• y•¥ 1.039,161 1,230,631 40 AGE UK SHROPSHIRE TELFORD a WREKIN NOTES TO THE Accoupifs FOR THE YEAR ENDED 31 MAJICH 2024 ACCOUNTING POLICIES a Basis of preparalM)n The accounts have Lwi FKepared in ac￿d￿ Ihe I*wFtVs govemirvJ d(￿ument. the Charities Aci 2011 and "AccAxAnlmg arKJ ReFKYIKwJ by Charths: SlaIerr￿1 of Re(x)mmended PraclicE applicable to charibes prepariTrJ I￿r Wmjnls in 8cjxKd￿ the FwwK3al Retmyting Standaid applicable in tho UK and ReWbI￿ ol Ireland (FRS 102)- (as ￿)er￿￿J k/ [￿l￿ts (x)mmencing from 1 January 2019). The charity is a Benefil Enbty as defff￿d ty FRS 102. The a(x￿ntS are ￿8p￿ed in slthJ. ￿ is Ihe fufwXwJ)al ot ts (*arity. fvk)netary amounts in these financial statements we to ne￿e$l £. The Charity meets Ihe enlily urNJer FRS102. Assels aThJ liabilities are initially re(XKJnwd al c(El u tranS3d￿ vak* u￿eSS olherv*W Staled in the relevant ac(J)unts'ng EK)Iicy ￿)le. Items of irrA)me a￿ rew1￿1 a￿1 Ihe vtsb al of the folkAvirvJ criteria are met: . The tharity has ￿tIllern￿ lo Ihe ftnThts". . any pertofmance attacw lo the itwn(s) of vmxxne r￿e twi mel cy are fully V•ilhin the (xlnltol of Ihe charity. . the amount can be me8sw&J relth. For legacies. entitlement is taken as the of: . the date on the thwity is avrdre thal twobale has twi gr8nted: . the estato has tX3en fff)alwJ a￿1 has b88n by the ex￿s> to the tharty that a distribution will be made: ( . ￿en a dEtribulicm is re(￿j fr￿n ts esL*. R￿1p1 of 8 lew. in ¢y in part. is (%￿LS￿red txtthtAe the amount can be measured reliabty and the ctharity has ￿ Tx)br￿1 exe￿I￿S inteniTh lo make a dslril)ution. Where tegacies have Iwi rK)t1r￿d lo Ihe (*•. ￿ Ihe (*• is awafE of the granting ol probale, and the Cfitefia for income r￿nit￿ have is treated as a contiwJent asset and disclosed il matenal. Donated serv1￿5 ￿ laali￿ are reqwiiwl as irKtwne Ihe dHity has contrd over Ihe item. any condiliorts ass(xiated wilh (kxIal￿ ilem have met. tt* receipi of ecorKxnic benefit from the use of fv charity of ts Item is prcthtde ￿ thal ￿my￿ tse￿fft can be measured reliably. On receipl. donaled Servi￿ and fa(Jhtps are r£wsed on basis ol Ihe walue of the gift io the charity whith is the amcxml Ihe (*anty have been lo pay lo (￿)la￿ service5 or facilities of equivaknl tw*fit LN) ts (w M￿ke1. 8 (XXfespyMJiThJ anKAmt is It￿7 r&xYJnised in experKJiture in the perKxI of ￿￿)1. No amount ts indUd￿l ￿th ￿ Financaal Statements Icr ￿￿unteer IKT* with the SORP (FRS 102). Further detsil is the Ttustees AnrMJal Repcffi. 41 AGE UK SHROPSHIRE TELFORD & WREKIN NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 klARCH 2024 CONTINUED ACCOUNTING POLICIES CONTWUED d Gfants, irK4LKliThJ grants fiK Ihe FxwCI￿e of frxed assets. are re1X￿ in ff￿1 in ￿ Stalement of Financial ACti￿1t1es in Ihe ￿ar in th they relato. e Resiricted lunts *e to lsts cannot be specAfKally Kjentir￿d lo atK)Ihw eX￿*1￿e dass￿￿tI(￿. These have t￿en alkThled to Ihe rolovant act[￿ty they supFxJt ￿ a basi& j Costs of rais1r￿ fuTKls uK*Kle Ihe of Ihe He￿1 o( IrKxxne GeneratK)n. Fundraising Assistant as well as Ihe dir￿1 Sta￿ eN*rts. ex[￿￿s. retail managers and an allocatK)n of ovthe*. k Investrnenls held as r￿ed assets are re-val￿ al mmkntkel Va￿ at ts bala[￿e sheet date and th l Tangible r￿ed assets we stat&J al Ix6t ￿&S de￿￿381￿. Depre0at￿ is wovKJed at tho folk)wing Fumiture armj FfftiThJs Office Equipment mot￿ Ve￿￿eS 33 % straight 33 % str￿ght lir 25 % ieduoro Impairmenl ot r￿ed assels At repcxts.ng dale. the (*wity revie•VS the aMo￿lS ol ts ta￿"ble assets to detemiine wheth6r thore is any indi(*tK)n Ihal those asseis have ￿ered an impatment loss. If any such indicatK)n exists, the recoverab￿ am(xwrt of ts assel is eslrnted in ￿der to determine the extent of th(9 impaiimenl Ic￿S (il any). m St￿k is irHJINtsJ al Ihe k￿￿ of (￿st (ff nel ￿lISatAe vakne. tknled rterrts of st(xk are recognised on re￿Ipl at fair value is ts affthnt cjwity willing lo pay for the ilems on an Open markel. income on a straighl I￿ basis. o The charity orAy has assets aThl of a kK)d Ihai as bas￿ fwwKial instruments. Basic financial instwmwts wubaly rwmsed at and subsequently measured at settlemenl va￿. 42 AGE UK SHROPSHIRE TELFORD & WREK NOTES TO ThE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 CONTINUED CCOUNTING PO CONTINUE p Trade Oth￿ debt(xs *e recxy¥S￿ at the setllemert ar[KX￿1 aftrf any trade discount offered. PrepasThents are val￿1 al Ihe am(xmt ￿er￿j after lakry a(xxxJnl of traje diso)unts due. q Cash at bank aThJ cash in harml Ind￿je ￿s￿ aThJ Sh(￿ lemi hwJhly fmwid investrnents wryth a short maturity of thr￿ (x less frcxn ts dale (wer￿ of the deFM)sl C￿ &milar acrnunt. r Credrt0￿ and txovisKx)s are the thanty has a (Kesent ￿￿igat￿￿ resulting from a past event that ¥MII txobaNy iesull in Ihe trwtsler ￿ fuThts lo a tsd FArty arKI the affKxmt due to setuo tho obligation can be measured eslimated reliatAy. Credilcxs aThJ FKDVISK￿￿ are n(wmally reojgnised at th￿[ settlern￿t wncwnt after alkyAry f(x dis(wit (kn. 2 TOTAL EXPENDrruRE 2024 2023 Charitable A(*vitses Restricted FurKJs Slaff Costs Travol Grcinis Premises Costs Siipport costs Ovetheads and (x)sts 641.393 37.135 202.881 59.156 1CKI.487 76.495 582,713 33,729 191.259 57,632 106.927 104,398 1.117.547 1.076.658 Unrestricted FuThJs staff Costs Travel Premises Costs SuppLYt costs Overheats and w(4ed (tsts 1.478.955 86.481 121,397 (115.656) 185.747 1.466,308 81.387 136,563 (122,756) 250,508 1.756.924 1.812,010 2.874.471 2.888.668 Costs of raising furKIs Retail Cosls Slaffing Premises aThJ O¥th￿j (x61S Travel Su[pc￿l cosis 37.475 25.724 1.131 5.168 88.234 43.601 46.601 4,205 8.529 55,501 157.732 158,437 43 AGE UK SHROPSHIRE TELFORD & WREKIN NOTES TO THE AccouKfs FOR THE YEAR ENDED 31 PAARCH 2024 coKnNUED 2 TOTAL EXPENDITURE CONTINUED 2024 2023 Goveman( Travel Audit Ac(x)unlanGy 15.6(X) 19.￿2 11.778 Total Expenditure 3.Cffi.805 3.058.883 Expendilure indudes. Audit lees Depieciation on tangth fixed assets 15.61X) 46.417 11.778 45,155 44 AGE UK SHROPSHIRE TELFORD & WREKIN NOTES TO THE Accouilfs FOR THE YEAR ENDED 31 MARCH 2024 CONTINUED 3 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTivmES Funds 2023 Funds 2023 Total 2023 In¢om• Donations. Gifts & Legacies Fundraising and Events 52,716 4,475 44.077 96.793 5.025 Income from charitable acliw. Grants Client Fees (Living Wew. Di￿￿(￿￿1 D￿n￿tts8 & Fl Home) 585.036 916,198 1,501,234 1.076298 61.125 1.137.423 Income from other trad. Ret8il Ir￿me Other Income 108.677 108.677 Investmenl 20.065 Total In¢on 1.847,267 1,021.950 2,869.217 nditur• Fundraising tr&Jing: 1X￿tS of futhlsl￿j ￿K1 Tetsd 158.437 158.437 charilab￿ aclivities 1.823,788 1.076.658 2,900,446 Total •xptnditur• 1,981225 1,076,658 3.058,883 Gains l (10sses} tnveslment assets (16.933) {16.933) Net incomel(expeThJilure) bekne rW (151,891) (54.708) (206,599) Transfers belween lurKts Actuaiial gainsl(losses) ￿ def￿￿j scheme 14.056 (14.056) 436.tXKI 436.000 Net movement in furKIs 298.165 (68.764) 229.401 Total luThJs tKought I.(￿.653 413.628 1,509,281 Tolal fuThds carried llyward 1.393.818 344.864 1,738,682 45 AGE UK SHROPSHIRE TELFORD & WREKIN NOTES TO THE ACCOUNTS FOR THE YEAA ENDED 31 MARCH 2024 CONTINUED 4 TANGIBLE FIXED ASSETS Furniture and qUiFxnent ￿￿tureS Motor V•hicl•s Total Cost As at 1 April 2023 Additions Dispostjls As at 31 Marth 2024 88.180 13.027 17.43 83.770 121.847 266,027 13.027 73.437 205,617 121.847 •ciation As at 1 April 2023 Dopreaation f(x Year Disposals As at 31 Marth 2024 43.078 51.707 1.073 52.780 166.880 46.417 70,217 143.080 15.3 {17.437 70.014 73.066 Not Book Valu• at 31 Mar¢h 2024 13.756 48.781 62.537 N•t Book Valu• at 31 March 2023 16.t)85 78.769 4.293 99.147 6 INVESTMENTS Quot¢d Inv￿nts.. 2024 2023 Markot Value al 1 Wil 2023 Increase (decrease) in markel value 419.319 37.592 436.252 (16.933) Markel Va ue as al 31 Marth 2024 456.911 419.319 Investments at ￿st 244.IXKI 244.0( Unlist•d Inv•slm•rts:. 2024 2023 Age UK STW Tiading Ltd TOTAL 456,912 419,320 The charity h(￿dS m(*e than 20% of sharB •al of the companies: Shar•s h•ld °A Subsidiary und•rtakings Class Age UK STW Trading Lld (1 c￿￿￿79) 100 The aggregate atrK)unt of caFHlal and Tesefves Ihe re&Ats of ttw UTMJertakiros for the lasi relevant fin￿481 yew were as f(Akws: 46 AGE UK SHROPSHIRE TELFORD a WREK NOTES TO THE ACCOIIIITS FOR THE YEAR ENDED 31 MARCH 2024 copifiNUED 5 INVE NTS CONTINU activrty Wital arbd r•swv•s Profftl (loss) Iw th• y•ar 2024 2024 Age UK STW T[￿ff￿ Lid <1{K￿)79) The financial perlormance of the subsidiary is as folky*s: 2024 2023 Summary profrt and k)ss a(xJxw Tul￿Ver Gross Profei Administrative ex[￿￿eS Profit for the year Aggregate amint of G9Prt81 ￿￿1 reS￿ve5 The subsidiary CJJmpany had c£ased lo as al 31 2018. As at the date of filing the &O￿nts. a Str*￿ff of the sths¥Ji&y has been (X)mplet￿. 6 DEBTORS 2023 Help @ F&)me Cknt Fees (xrtsl￿ Olhor Deblors 8.549 108,237 7.150 75.731 116.786 82,881 7 CREDITORS (Amounts Falling Du• Ylrthin On• Year) 2024 2023 Trade credil(xs Staff Costs Olher Credilors aThJ Acuua Defeffed income 3.810 108.425 42.649 14.701 15.127 120.3n 19.698 12.700 169.585 167.902 Balan￿ 8s al 1 21Y23 Amounts released to income in Ihe y Amounls delerred year 12,7 (12.7￿> 14.701 Balance as at 31 Marth 2024 14.701 47 .1 571 .516 45 751 1J5 18.702 41,475 .•J3 110.7091 10.328 10.7 9616 2T Cw• NESIT MYFCI 31238 276* 9.515 71.562 40.815 15 T44 104 I￿ 740 14,341 189 740 4431 47￿1 .711 23 172 1?.4 31011 Jg 031 Cos101 LtwYwJ IY(4*I 1 117 9J9 $$2.￿5 1S.L 15.(D) 131 117.fJ)2 135.114 43112 11&9T4 443 t12) l&(W15) 712. (Xarrty SYP5 13.213) $318) IW.175 16 132.814 15.491 451.910 i.Y9.f i*.LXMJ t89.L 1.￿.818 1 7B7 B20 1519159 167 592 1.370 872 T•iAI Fwb 1.rn.6B2 IUSS.342 3.(65.805 T￿.$9? 1.024. 1241 102.DX 217*7 I￿3￿ I.JW 594 1 451427 *2911 175J19 48 AGE UK SHROPSHIRE TELFORD & WREKIN NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 CONTINUED 9 ANALYSIS OF NEf ASSETS BETWEEN FUNDS Tangible Qu¢>t•d Net Current Fix•d Assets Inveslm•nts Assets Provisions Totsl Restricled Funds 323,939 Unrestricted Funds 62.537 456.912 662.423 189,OCM) 1,370.872 62.537 456.912 986.362 18g.000 1,694,811 10 TRUSTEES REMUNERATION AND EXPENSES The Trustees are IK)t remuner8led. tkn¥J the ￿ Nd {2023". Nil) trustees re1m￿rsed travd expenses of £Nil (2023: £NIl). Also an athJilKxwI EN￿ was repaxl lo trL￿teeS f(Y exww cKcurred dwing their voluntoer adv(Kxiè ro￿ (2023: £NA>. 11 STAFF Th6 average monthly head(xJmt was 194 staff12023: 193) 8ThJ the rnmbw of lull tsme equivalent employees (including casual arKI IRT￿ Staff) al Ihe ￿ erKI vras made up as follows:_ 2024 2023 Chief Off AdminElration siaff Project Staff - incjudes Lxxe stall Home SupFKKt W¢Nkers 31 79 70 2024 2023 Salaries and Wages Social Security Costs Empk)yers pensi￿ tsts Staff irainirvJ 1.994.671 1,928,429 77,654 118,230 23,965 120.917 23.310 2.222.786 2,148,278 One {2023: One) membw of slaff reC￿￿a in exc￿ of £60.CM)O in eThK)lumerts dLring Ihe ￿Par. The key rnanagement of Chief Executr￿ (yfKX, Dilector ol Otwations and Director of Finan(* **K6e lotal emtty8 benefits £156201 (2023: £150,739). 49 AGE UK SHROPSHIRE TELFORD & WREKIN NOTES TO THE ACCOUNTS FOR THE YEAR &40ED 31 MARCH 2024 CONTINUED 12 INVESTMENT INCOME 2024 2023 Dividends arKI Intorest on LISt￿j Inveslments Iiiterest on Cash 12,097 15.837 12,162 7,￿3 27,934 20.065 13 LEGAL STATUS OF CHARrrY The Chanty ts a Company Limiithj by GU*￿tea arxl no str￿￿ C4Mta. The fiatility of e&h membèr. In the eveni ￿ windw up. is Illn￿$ lo £1. 14 FINANCIAL COMMITMENTS At 31 March 2024. the th￿lty h￿1 I￿al Ixxnrri￿ can(%lth (watrylg leases as detailed below: 2024 2023 Owating leases eymre: Within one ye Betwoen arKI Over 5 ￿EarS 59,796 231,940 196,000 147,lJ)) 427.940 487,736 16 CORPORATION TAX The charity ts exempt frcmn (xxpxxakn i￿￿￿e aThl gains lo the exlenl Ihai ar8 applied to ils charitable objects. in a(x(Ydance Part 11 of the C￿al￿ Taxes Act 2010. 16 RECONCILIATION OF NET MOVEMEKf IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Nel movemenl ￿ furKJs Add back depreciat￿ffi charge (Profitvloss on disFK)sal of r￿ed assets Dedud interest in(a)me sIKTh￿ in investir¥J acAivits tkdu(* gain￿ Add losses on investrnent Decreasel(increase} in sl(x Decreasel(inuease) in debl(Y5 IncreaseI(decre￿) in ￿￿11t￿S (43,871) 46.417 (4.480) (27.934) (37.592) 15.705 (33,g)5) 229,401 45,155 2,528 (20,065) 16,933 1,719 146,119 {49,107) (436,000) (l￿,(M￿)> N•t Cash provid•d by op•ratsng a¢tivili•s (213,977) {63,317) 50 AGE UK SHROPSHIRE TELFORD & WREKIN NOTES TO THE Accouiifs FOR THE YEAR ENDED 31 MARCH 2024 CONTINUED 17 PENSIONS The chanty operates a defI￿j twefrt pertsm￿ sc*wne. Tr most recent actuarial valuation was 31 March 2024. 2024 2023 EmplO5￿S C￿l[l￿￿￿1( Employees. (xxtiiibutions 4.376 3,401 3.642 Total cX)ntrthlK￿S 3.642 7,777 2024 2023 Principal actuarial assumptions Rale of inuease in salar Ralo of increase for pensmxts in pa￿￿& Discount rate for S(*￿￿ liawrtes InflatK)n assumpti(*ts' 3.95 2.70 2.70 The currenl mL¥tality asswnplKM)S WK*xJe sufficth 8￿p￿￿* f[￿ future iMwovem￿ts in mortality rates. The assumed lrfe exp8clatK)ns rel]rem￿* age 65 are: 2024 Y•ars 2023 Y•ars Reliring today -males -Females Reliring in 20 yew5 -males -Females 21.8 24.2 24.5 23.S 26.3 The charitys share of the assels and l1atx.lil￿ in the Sd￿ arwj ￿ expecled rates of relum were: 2024 2024 2023 Expected r•turn 2023 Fair Valu• Fair Valu• Equities Other tonds Property Cashlliquidity 1.222,IKKI 316.IXX) 76.IXK) 51.1 18.8 1,037,000 381,000 67,000 10,000 533,000 14.6 24.0 519.tNXJ 26.3 Total Tnatket value of assets Present value of benefft (￿atK￿Ls 2.163.C 1.974.IXKI 2.028,CO) Nel pension asset l (lia￿.1￿) 189.(YJJ 59,000 51 AGE UK SHROPSHIRE TELFORD & WREKIN NOTES TO THE AccouKfs FOR THE YEAR ENDED 31 MARCH 2024 CONTINUED 17 PEN8ION3 CONTINUED Op•rating costs and income reco￿l￿d in the statement of financia activiti•s 2024 2023 Financial •xpenditur•l(inc¢xn•) Interest pens￿ lia￿.1￿ Interesl cx) plan assets 73,000 62.000 97.(KK) 11,000 Other •xpenditur•l{income) Curront servi(x (a)sl 18. 24,CM)O Total operating chargel(income) 15.CM)O 35,000 Actuarial gains and losses included in the statement of other comprehensive income 2024 2023 Remeasurements -A&sets -Ltaly'lities 138.CMXI (7.tKM)) 202.000 (669.000) 131.1))O (467.000 Mov•m•nts in the pr•5ent value of d*fin￿ benefft obfigation5: 2024 2023 Opening defined tsener￿ cltylic Currenl Servi(￿ (x)sl Interest (J)st Contn"bub'ons by employees Remeasurement (gainyk)ss assumptK Remea8urement exFErwxz g￿(￿s) Benelits paid {1.969.(XK)) (18.0(X)) (94.1M) (4.(XK)) 25.(JJ) (18.IXK)) 104.(XN) (2.617.000) (24,000) (73.000) (3.000) 799,ClOO (130,000) 79.000 1,974.(XK) 1,969,000 52 AGE UK SHROPSHIRE TELFORD & WREK NOTES YO THE AccouKfs FOR THE YEAR ENDED 31 AIARCH 2024 CONTINUEO 17 PENSIONS CONTINUED Mov•m•nts in th• fair valu• of th• charilrfs shar• of sch•m• assets: 23 Opening fair value of s¢kn assds Interesl plan assets Remeasuremenls Contrit)ubons by emFA Conlributions by Beneffts pam 1028.C 97,1 138.(XKI 2.240,(KXI 62,000 (202.000) 104.IJKI 79,CM)o 2.163.(KKI 2.028.000 History of •x&￿rI•n￿ gaifts and loss•s: 2023 (1,974.tKKI) 2.163.1M) 11,969.000 2.028.000 Fail Value of thio of sdEme asseis SurplugJ (defmil) 189.(KKI 59,000 18 RELATED PARTY TRANSACTK>NS During Shr(r6lN're Partners fft ￿e Ltd. of ￿ Sjsan (Chair> is a dire(aor provided services lo Ago UK ShriyshirB Tolf(xd & Wiekin of £476 (20Z3: £333). ￿ts18￿1￿J as al 31 m￿th 2024 was £NIL (2023.. £Nil) lo Stw(yhffe Parlws in Lkd. During ￿ spar Wa(x ￿Ngan Ltd. ol Z￿a Cknr is a 4*eC￿ w￿Jed sef¥Mxs relaling to the 0)mple1￿)n slatemenl fcff ts lease of Age UK Slwcyth" e Telf(¥d & Wrekn¥ £81 (2023. £116). OulstarvJi￿j as at 31 2024 £Nd (2023: £Nd> th lo Wa(8 Ll During ￿ sfjar £4,CK¥) (2023: £2.(X¥)) Irfxn Kaw (Tnth) fT(Kn fiJrxlrwsK Durlng ￿ sear R(th(x) {Cha) m&18 ￿ aml (kna1￿￿￿ (4 £60 (2023.. £W). During )ear Heallw Oslxme (CEO) aml £60 (20Z3: £￿>. 53 Meal Premium Meal Deal rlstmas rds Ijs5 euK 1construction *iconstruction p".ARTWER.SFFIP WITPI IN. PAR T14£1t5H*P *• l kk Pitching in Rl Construction delivered 300 gift bagsto our day centre members Our offices Shrewsbury Office Bollstono Shrewsbury SYI IHX t01743 233 123 Home from Hospital, Souih Shropshire Room 50 Holona Lane House 20 Hamlet Road Ludlow SY8 2NP t 01584 878 046 www.ageuk#wfjry.uk Our professional advisors Bankers Barclays Bank plc, Shrewsbury Auditors Dyko Yoxley Li mited, Shrewsbury Solicitors Wace Morgon, Shrewsbury Our potron David Stacey Esq DL Our quality marks Advocacy OPM t¥JwJ WARD Age UK Charity Quality Standard rlilied DJ Boosting wellbeing benefits bo yand mind o work with and for older people to improve the quality of Icrter life, Ago UK Sh ropshire Telford & Wreki n Bollstone Shrowsbury SYI I HX 01743 233 123 www.ageukstw.org.uk A￿UK￿L¥￿'￿TdfO￿J&￿￿qnISO0￿ntsJYAO)wp￿W￿Th1￿j l¥gJ]ffioaTrJ ErrfJ)rdord RaJ'ste￿I￿ontyl￿jMter.Io￿￿s COmp]ryNJrrterCQ2￿￿6 RaJ'Ste￿I0ffi￿Is E￿Slo￿.￿￿StsJty.Sh￿f*l￿5￿ IHX