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2023-03-31-accounts

Campaigning with older Londoners Age UK London Report of Trustees and Annual Accounts 2023

Annual Review 2023

Contents

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Reference and administrative information

Company number

04407861

Country of incorporation

United Kingdom

Charity number 1092198

Country of registration

England and Wales

Trustees

Trustees, who are also directors under company law, who served during the year and up to the date of this report were as follows:

Imogen Clark: Chair

John Cole: Treasurer

Tony Burch

Diana Donovan (Resigned 6 January 2023)

Kate James

Chinara Rustamova

Elizabeth Sparrow

Guy Stevenson

Ravin Weerawardena

Alice Woudhuysen

Key management personnel

Abigail Wood: Chief Executive

Bankers

Arbuthnot Latham & Co Ltd

Arbuthnot House 7 Wilson Street

London EC2M 2SN

Independent examiner

Joanna Pittman FCA Sayer Vincent LLP Invicta House 108-114 Golden Lane London EC1Y 0TL

Status

Age UK London is a charitable company limited by guarantee.

The membership of Age UK London comprises the local borough-based Age UKs and Age Concern charities that operate in Greater London (the “London Age UKs”).

Age UK London had two inactive subsidiaries, which were former trading companies: Age Concern London Trading Limited, and Age Concern London Retail Company Limited. These subsidiaries were wound up in May 2022.

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Trustees Report

The trustees present their report and the independently examined financial statements for the year ended 31 March 2023.

Reference and administrative information set out on page 3 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association, the requirements of a directors’ report as required under company law, and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

Objectives and activities

Purposes and aims

The trustees review the aims, objectives and activities of the Charity each year. This report looks at what the Charity has achieved and the outcomes of its work in the reporting period. The trustees report the success of each key activity and the benefits the Charity has brought to those groups of people that it is set up to help. The review also helps the trustees ensure the Charity’s aims, objectives and activities remained focused on its stated purposes.

The trustees have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Charity’s aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set.

The overall aims and objectives of Age UK London are to improve the lives of older people across London by campaigning so that London can become an age-friendly city. We are guided in these aims and objectives by the World Health Organisation (WHO) framework for Age-friendly Cities and Communities. We also aim to improve the lives of older Londoners by supporting the network of London Age UKs and other older people’s organisations. During the course of the year, the trustees continued to refine the strategies adopted to achieve these objectives, and our strategy can be summarised as below:

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Our vision is of an age-friendly London, in line with the aims of the WHO’s Global Network for Age-friendly Cities and Communities.

Our mission is to campaign for specific change to improve the lives of older

Londoners and ensure that their experiences, needs and contributions are heard and taken into account by decision makers.

The following principles that underpin all our work:

We have adopted three key strategies to achieve our objectives:

In 2021-2022, to provide greater clarity and focus to the charity’s work over the next three years, the trustees approved the following strategic priorities for 2021-2024:

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The year in numbers

----- Start of picture text -----
One internet provider changed their policy
to no longer exclude older people from the
most affordable tariffs.
1
----- End of picture text -----

----- Start of picture text -----
The Dial-a-Ride service will now operate for
an additional two hours every day of the week
after we supported campaigners to persuade
TfL to increase operating hours.
2
----- End of picture text -----

Representatives of Age UK London spoke at 8 City Hall events including London Assembly Committee meetings to ensure that the views and experiences of older Londoners were heard by decision makers. 8

Our campaign champions had face-to-face meetings with 12 councillors as part of the London Loos campaign. 12

----- Start of picture text -----
30 campaign champions took part in the
travel concessions petition hand-in at City
Hall on 15 November 2022.
30
----- End of picture text -----

We’ve cut our overheads by 47% since 2020-21 so that as much of our income as possible is spent on achieving change to make London more age-friendly. 47%

189 community organisations engaged with our winter vaccines campaign. 189

637 members of the public took part in our research, public toilets in London: The views of older Londoners.

----- Start of picture text -----
637
----- End of picture text -----

10,005 people signed our final petition calling on the Deputy Mayor for Transport to protect travel concessions for Londoners over the age of 60.

10,005

We increased our media coverage by 627% this year.

----- Start of picture text -----
627%
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Achievements and performance

Age UK London’s main activities and who it seeks to help are described below. All our charitable activities focus on making London a more age-friendly city and improving the quality of life of older Londoners and are undertaken to further Age UK London’s charitable purposes for the public benefit.

Our core campaigns

Core campaigns form the largest part of Age UK London’s work and are the main way in which we secure positive change to benefit older Londoners. We selected for our campaigns the issues that London Age UKs told us were most commonly faced by their beneficiaries - social isolation and digital exclusion - and identified specific solutions in both areas that were needed and realistic. In response to the ongoing risk to the health and wellbeing of older Londoners by Covid-19 and seasonal flu, we once again ran a campaign to encourage uptake of the winter vaccines.

Campaigning for changes to make London more age-friendly will take many years. Having spent 2021-22 creating robust campaign plans and building relationships with key decision makers, in 2022-23 we focused on creating a strong evidence base to support our campaigns, raising awareness of the problems through media work and mobilising our supporters through local campaign groups.

Progress against our priorities: equality, diversity and inclusion

We continue to monitor any barriers to older Londoners’ participation in our campaigns and how to mitigate them. Our equalities monitoring data shows that 54% of participants in our campaigns were disabled and 49% from Black and other minoritized ethnic backgrounds.

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Out and About campaign

This year we continued the Out and About campaign for improvements to community infrastructure so that people most at risk from social isolation can be more confident leaving home to do the things they want to do. Out and About has two core public campaign strands; London Loos focussing on improving public toilet provision and Door to More focussing on transport accessibility.

Progress against our priorities: supporting older Londoners to campaign

This year we offered a range of opportunities to help enable older Londoners to meaningfully lead campaigns. As part of the Out and About campaign, ‘champions’ (those older campaigners leading campaigns) held face-to-face meetings with Transport for London, London Assembly Members and councillors. We also supported campaigners to submit council questions, speak to the media and organise a deputation before a local council.

‘London Loos’

In order to have a strong evidence base for our campaigning to improve public toilet provision we published a report, ‘Public toilets in London: The view of older Londoners’, in September 2022. The report was based on a survey completed by over 600 older Londoners in the summer. There were several shocking findings including the 52% of respondents who said that they sometimes reduced the amount they were drinking before going to certain places because of a lack of public toilet provision. One older Londoner told us:

“I don’t go out if I feel I will be ‘caught short’. I tend not to meet anyone due to this and hence feel quite isolated.”

81%

say they would be more likely to visit shops, cafes and businesses if public toilet provision were better.

In October 2022 the London Loos campaign saw three local campaign groups established in Haringey, Islington and Merton. 16 campaign champions have led the development of these three groups, deciding on campaign activities and the improvements they wanted their local councils to deliver:

Progress against our priorities: a strong campaigning track-record

Our local campaign group persuaded Haringey Council to start developing a council toilet strategy, and, in Islington, campaigners convinced the council to radically improve public communication about the location of toilets.

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‘Door-to-More’

In July we published a new report in collaboration with the charity Transport for All about Dial-a-Ride, the free door-to-door accessible bus service run by Transport for London. Our report, ‘Dial-a-Ride: From Door to More’, was based on in-depth interviews with Dial-aRide customers and included 13 recommendations. “It gives me independence. Without Dial-a-Ride I’d probably be stuck at home doing nothing” , one user told us. A week after the publication we arranged for eight Dial-a-Ride customers to meet the General Manager of Dial-a-Ride at City Hall to share their experiences of the service and to call for specific improvements.

In the months that followed we worked with London Assembly Members to apply more pressure on Transport for London to make improvements. In February 2023 Transport for London announced specific improvements that campaigners helped to win. This included an extension of Dial-a-Ride operating hours from 10pm to midnight at weekends; an increase in the number of drivers and the number of staff answering the booking telephone line to reduce call waiting times; and an improved booking service.

Progress against our priorities: a strong campaigning track-record

This year, Out and About campaign champions secured significant progress and achieved tangible improvements to the Dial-a-Ride service including an extension of the operating hours changes to policy and practice. Campaigners for Dial-a-Ride improvements pushed TfL to announce improvements including an extension to operating hours, additional recruitment to improve services and a new booking system to make it easier to book journeys.

Mind the Digital Gap

This year our Mind the Digital Gap campaign focused primarily focused on financial barriers to accessing the internet and, conversely, the impact of digital exclusion on older Londoners accessing financial support. The team identified early in the year that while all internet providers offered low cost ‘social tariffs’ many of them only made them available to anyone receiving Universal Credit, which is only for those under the age of 67, excluding those over 67 on the lowest incomes from accessing genuinely affordable broadband. Following many months of discussions, we were delighted to see Virgin O2 expanded the eligibility criteria for their social tariff to include Pension Credit and have informed us that since the rules have changed, they have had several thousand new sign ups giving older adults on low income genuinely affordable access to the internet.

Progress against our priorities: a strong campaigning track-record

We persuaded a major internet provider, Virgin O2, to make their most affordable tariffs available to those over 67 on the lowest incomes who had previously been excluded.

Feedback from local Age UK Information and Advice teams highlighted to us that older Londoners who did not use the internet were struggling to access services from their local councils. We used Freedom of Information requests sent to all councils in London to determine which ones offer a way of applying for Housing Benefit, Council Tax Reduction and rebates, and Blue Badge applications which do not require the individual to be online. We supplemented this research with a mystery shopping exercise and published the findings as a report entitled “Access Denied: accessing Council services without the internet” . Our key findings were:

Progress against our priorities: creating a robust evidence base

Our Freedom of Information requests revealed that 31% of councils do not offer a way of applying for Council Tax Benefit or Housing Benefit without using the internet.

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Our findings received widespread media coverage in London and national newspapers and the findings were discussed at a London-wide meeting of councils’ chief digital officers. Work is now underway with councils who do not offer the services mentioned above online to encourage them to provide an offline alternative for those who need it.

To effect borough-level changes to reduce the digital exclusion experienced by many older people, we worked with existing groups run by local Age UKs to create local campaign groups to engage & support older campaigners in Croydon, Hammersmith & Fulham, Redbridge and Westminster:

We secured funding from WCIT (Worshipful Company of Information Technologists) to create training resources and run a programme of in person workshops to upskill older Londoners in digital campaigning.

Winter Vaccines

This year we once again delivered a public awareness campaign to encourage uptake of the Covid 19 and flu vaccines amongst older Londoners who were most at risk during the winter of 2022-23. Building on our learning from last year’s campaign - that public health messages are most trusted and acted upon when received from hyper-local community groups or figures - we focused on engaging these groups. We ran online and in-person events so that local groups could hear from and question NHS Covid Clinical leads on the London vaccine programme and raise any concerns they might have. These events were attended by over 100 organisations covering every London borough. 80% of all participants agreed to use their health and community networks to promote the campaign and share our resources.

Following our successful partnership working on our 2021-22 vaccines campaign, NHS London approached Age UK London to support them in promoting the Covid spring booster. Age UK London created targeted on and offline resources and hosted a live Q&A event in May 2022 targeted at representatives of groups who support older Londoners from minority ethnic groups. In total 89 representatives attended from 30 London boroughs.

Progress against our priorities: supporting older Londoners to campaign

So far, 35 older Londoners have attended one of our digital campaigning skills

workshops. One attendee said:

me to recall and revise processes as well as to learn new pathways; I also feel

motivated to continue exploring and learning with social media. It really will open up

avenues of information, discussion, ideas and activities.”

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Shaping the agenda

As well as delivering core campaigns focused on specific issues, our work to make London an age-friendly city also requires broader influencing work through which we ensure that the views and experiences of older Londoners are heard and understood by decision makers. In 2022-23 our CEO gave evidence to London Assembly committees on three occasions on different topics: the housing needs of older Londoners; on travel concessions; and on poverty.

Transport concessions

Campaigning to protect travel concessions focussed on two areas this year. Firstly, to end the cut to concessionary travel for journeys before 9am on weekdays, and secondly, to protect the 60+ Oyster Card, which was under significant threat. We published research that showed that two in three of the Londoners aged sixty or over that travel before 9am on weekdays do so either to attend a health appointment (31%), for work (28%) or due to caring responsibilities (8%). One campaign supporter said:

“I have a meagre pension and rely heavily on my Freedom Pass. I have hospital appointments in the morning, but I cannot use my card until 9am and travel before this time costs me about £8 which is a huge amount of money for me.”

As the culmination of two and a half years of campaigning on these issues, we organised for a group of older Londoners to go to City Hall to present a petition of over 10,000 signatures to Seb Dance, the Deputy Mayor for Transport. The petition called for an end to the suspension on pre-9am use of travel concessions for over 60s and for plans to phase out the 60+ Oyster Card entirely to be dropped. This petition brought the number of signatures and letters sent in support of our campaign to 75,594.

In January it was announced that the pre-9am weekday cut would be made permanent, however, the 60+ Oyster Card was saved. Our campaigners played a huge role in protecting affordable travel for older Londoners, and it is unlikely we would have seen the same result without their efforts.

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Poverty

In response to the cost-of-living crisis and to ensure that the experiences of older Londoners are not left out of this debate, Age UK London published research ahead of London Challenge Poverty Week showing that poverty rates for over 50s are significantly higher in London compared with the rest of the country. The data show that 25% of older Londoners live in poverty, compared to 18% in the rest of England.

Following the publication of our report, the London Assembly’s Economy Committee held a session looking at poverty amongst older Londoners at which our CEO called for better data collection in this area, more work by the Mayor’s team to understand how to encourage uptake of Pension Credit (financial support available for older people on the lowest incomes) and for the Mayor to encourage age-friendly employment practices to boost the incomes of older Londoners in work. We were delighted that the committee formally endorsed these requests to the Mayor and look forward to his response.

Older People’s Forums

Among our key stakeholders are older people’s forums, based in the London boroughs, who can provide a collective voice for older people in London. These voices need to be loud and strong if they are to be heard in a city where there are so many calls for the attention of policy makers and the resources of funders. We continued to support the Greater London Forum, the umbrella organisation for London’s older people’s forums, to secure ongoing three-year funding for a co-ordinator, who is delivering excellent assistance to local forums and has invigorated their campaigning activities. This includes the setting up of a BAMER sub-committee which will focus on addressing health inequalities.

Progress against our priorities: creating a robust evidence base

Our research published in October 2022 revealed that London has the highest level of poverty amongst over 50s in the country, with 25% of older Londoners living below the poverty line compared to 18% in the rest of England.

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Telling our story and those of older Londoners

Building relationships with the London media and increasing our print, broadcast and online coverage was a key part of the communications strategy for Age UK London in the year 2022-23. More coverage of issues facing older Londoners and what they are doing to tackle them creates a climate in which our core campaigns and work to shape the agenda will be more positively received, and result in a better understanding amongst decision makers and the wider public of what would make London more age-friendly. Our efforts paid off with a 627% increase in media coverage compared to the previous year.

Media Coverage (Number of items April 2020 - 2023)

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120 April 2020 - March 2021 12
April 2021 - March 2022 15
100
April 2022 - March 2023 109
80
60 627% increase in the past year
40
20
0
April 2020 - April 2021 - April 2022 -
March 2021 March 2022 March 2023
----- End of picture text -----

This significant increase in coverage came from a renewed focus on media work, supported by publication of three reports with new research and insights as part of our London Loos, Better Journeys and poverty campaigns. Our campaign champions also assisted when it came to getting our messages across, taking part in interviews on London broadcast channels including ITV London, BBC London, BBC Radio London, and London local newspapers including the Ham & High and Islington Tribune.

Supporting the London Network of Age UKs

We continued to support the London Age UKs, and are grateful to be able to use the insight they gain through their service provision into understanding and tackling the systemic problems experienced by older Londoners. These insights inform our campaigns, and we are able to provide a platform for the issues faced by local Age UKs and their clients so that they are heard and understood by London decision makers.

This year we continued to bring the London CEOs together on a regular basis to enable information sharing and collaboration; to share information and intelligence about developments in London, and to offer support for individual local Age UKs on local campaigning. We were delighted to be able to restart in-person Regional Meetings which bring together CEOs and chairs from local Age UKs across London. To further support the London network, we established a regular meeting for those working on communications to discuss common challenges and share resources and successful approaches.

Special Reserve Fund

In 2022-23 we continued to use funds from our Special Reserve to support London Age UKs to continue to undertake a change programme to become more sustainable or provide more services to older Londoners. We were pleased to award six new grants to local Age UKs working alone or in partnership to become more sustainable or expand the reach of the support they provide to older Londoners. The grants awarded came to less than the total amount of funds available, therefore the trustees decided to share the remaining funds evenly amongst the London partners to use to support older Londoners with the increasing cost of living. All money in the Special Reserve has now been allocated and the reserve will be closed once the second and third instalments from the third and final round are paid out in 2023-24.campaign to encourage uptake of the winter vaccines.

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Other key activity during the financial year The two trading subsidiaries, Trading and Retail, were officially wound up in May 2022. Financial review

Income

Total income for the charity was £575,633 (2022: £1,081,793). The significant components of this income were donations and legacies of £360,919 (2022: £860,698) and grant income from charitable activities of £203,798 (2022: £195,862). Grant income from charitable activities increased by 4% (from £195,862 to £203,798); grant funding for restricted projects stood at £27,299 (2022: £20,000).

Expenditure

Total expenditure on charitable activities was £828,140 (2022: £529,751) including £128,411 (2022: £151,658) committed as grants to London Age UKs from the Special Reserve Fund. In 2023 £79,552 was also distributed to London Age UK network to address the cost of living crisis. £109,200 was transferred to Age UK Kensington and Chelsea in line with the stipulation within the legacy funding that was received. Expenditure on raising funds totalled £38,509 (2022: £47,120). Excluding these grants and expenditure on raising funds, charitable activity expenditure was £472,468 (2022: £330,973). The main expenditure in the charity was employment costs of £316,794 (2021: £309,161). Careful control of administrative costs was maintained.

Investments

The Trustees consider that the investment objectives of safeguarding its assets and maintaining an appropriate amount of liquidity to meet short term needs have been met during the financial year. The performance of our investments during the year was satisfactory, bearing in mind market conditions and the trustee decision to not invest in fossil fuels. Despite the uncertainty of the past year, our investments performed reasonably well with a net unrealised loss of £34,331 (2022: unrealised gain £34,641).

In 2021 the Trustees undertook a full review of the charity’s approach to investments and adopted a new investments policy. The board refined the investment objectives to set specific objectives for the short, medium and long-term elements of the charity’s reserves. All three objectives were set with a view to producing the best financial return within an acceptable level of risk.

Funds that will be needed in the next two years continue to be held in cash, spread across three accounts including Arbuthnot Latham (the Charity’s principal bankers) to mitigate third party insolvency risk. Any additional funds will be invested by our investment managers, Sarasin and Partners, spread between a low and a medium risk fund. This approach will enable Age UK London to fund development initiatives and smooth out flows of in our income while ensuring the maximum amount of funds are spend on achieving our charitable purpose.

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Principal risks and uncertainties

The Board of Trustees, supported by the Audit, Finance and Risk Committee, systematically reviews risks faced by Age UK London using a RAG rated risk register, remaining vigilant in view of the continuing uncertain economic environment, competition for funding, and the continued development of Age UK London’s activities.

Through appropriate consideration of risks as part of its normal risk management processes, the Trustees consider it appropriate for a going concern basis to be adopted for these accounts.

The key risks to the Charity are:

The Trustees have implemented the following steps to mitigate these risks:

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Reserves policy and going concern

Age UK London’s net funds are allocated to specific reserves. The purpose of the reserves policy is to ensure the stability of the organisation now and in the foreseeable future. The policy is designed to enable Age UK London to retain sufficient funds to maintain current and planned activities, while providing funds to build capacity, transition to new ways of working, and take advantage of new opportunities as they arise. The reserves policy is implemented in concert with the other governance and financial policies of Age UK London, supporting our goals and strategies.

There are three separate reserves:

The levels of reserves are reviewed regularly by the Audit finance and Risk Committee and the reserves policy is subject to annual review. This ensures the reserves continue to meet the Charity’s expectations.

The Charity’s reserves levels as of 31 March 2023 were as follows:

Fundraising

Age UK London does not actively solicit donations from individuals other than through advertising for legacies and through a “Donate” function on our website. All donations are very gratefully received.

We do not sub-contract any fundraising activities to a third party and whilst we are not registered with the Fundraising Regulator, we will be guided by the Code of Fundraising Practice in any fundraising activity. We received no complaints about our fundraising activity.

Structure, governance and management

The organisation is a charitable company limited by guarantee, incorporated on 2 April 2002 and registered as a charity on 24 May 2002. The company was established under a memorandum of association which established the objects and powers of the charitable company and is governed under its articles of association. Revised Articles of Association were adopted at the AGM on 25 November 2020.

All trustees give their time voluntarily and receive no benefits from the Charity. Any expenses reclaimed from the Charity are set out in note 9 to the accounts.

The Trustees meet a minimum of four times a year. As of 31 March 2023, there were nine Trustees, responsible for the governance of the organisation, financial probity, and setting and monitoring the strategic direction of Age UK London. The Board of Trustees has two committees to support it in discharging its responsibilities: the Audit, Finance and Risk Committee and the HR and Equalities Committee.

The Charity has identified the trustees and Chief Executive as the key management personnel for the purposes of charity and company law. The Board is responsible for deciding the remuneration of the Chief Executive; the decision on other remuneration increases is considered by the Board of Trustees as part of the budget approval process and suitable parameters established for the setting of individual pay levels.

The day-to-day management function of the organisation has been delegated to the Chief Executive who, supported by the senior management team, ensures that the Age UK London undertakes its activities effectively, in line with the strategic direction and financial, governance and other controls approved by the Trustees. The scheme of delegation sets out the powers held by the Board and those delegated to the Chief Executive.

The Charity is also compliant with the national Age UK Charity Quality Standard (a quality mark which enables an organisation to be part of the Age UK network).

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Appointment of trustees

The Board undertakes a regular skills audit and, in the light of the results targets recruitment activity to ensure that there is an appropriate mix of skills and experience to support the activities of Age UK London.

New trustees can be co-opted to the Board during the course of the year and appointments made at the annual general meetings. Appointments are generally for a period of two or three years and individuals can stand for re-election.

New Trustees are provided with a detailed induction pack and an induction programme involving meeting with key members of staff to gain an understanding of the organisation and the external environment in which it operates. Trustees are encouraged to undertake training to support them to perform their role.

Statement of responsibilities of the trustees

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of Age UK London and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of Age UK London and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the Charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of Financial Statements may differ from legislation in other jurisdictions.

The annual report has been prepared in accordance with the special provisions applicable to companies subject to the small companies’ regime.

The trustees’ annual report has been approved by the trustees on 12 July 2023 and signed on their behalf by:

The Trustees, (who are also directors of Age UK London for the purposes of company law) are responsible for preparing the Trustees’ Report and the accounts in accordance with applicable law and regulations.

Company law requires the Trustees to prepare financial statements for each financial year. Under that law the Trustees have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland. Under company law the Trustees must not approve the financial statements unless satisfied that they give a true and fair view of the state of the charity’s affairs and the charity’s net movement in funds, including the income and expenditure for that period.

Imogen Clark

Chair of Trustees

In preparing those financial statements which give a true and fair view, the Trustees should follow best practice and:

inappropriate to assume that the charitable company will continue on that basis.

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Independent examiner’s report to the trustees of Age UK London

I report to the trustees on my examination of the accounts of Age UK London for the year ended 31 March 2023.

This report is made solely to the trustees as a body, in accordance with the Charities Act 2011. My examination has been undertaken so that I might state to the trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the trustees as a body, for my examination, for this report, or for the opinions I have formed.

Responsibilities and basis of report

As the charity trustees of the Company, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’)/ Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Company’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011 (‘the 2011 Act’).

Independent examiner’s statement

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Signed:

Name: Joanna Pittman FCA

The Institute of Chartered Accountants in England and Wales

For and on behalf of: Sayer Vincent LLP, Invicta House, 108-114 Golden Lane, London, EC1Y 0TL

Date: 22 August 2023

Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accounts in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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Statement of financial activities

Unrestricted Designated Restricted
Total
Funds
Funds
Funds
2023
Notes
£
£
£
£
Income from:
Donations and legacies
2
251,719
-
109,200
360,919
Charitable activities:
3
Core campaigning
17,471
-
27,299
44,770
Shaping the agenda
37,064
-
-
37,064
Supporting the network
121,964
-
-
121,964
Investments
4
916
-
-
916
Other
5
10,000
-
-
10,000
Total income
439,134
-
136,499
575,633
Expenditure on:
Raising funds
6
38,509
-
-
38,509
Charitable activities:
6
Core campaigning
162,872
-
67,716
230,588
Shaping the agenda
209,196
-
-
209,196
Supporting the network
32,684
207,963
109,200
349,847
Total expenditure
443,261
207,963
176,916
828,140
Net income/(expenditure)
before net gains/(losses)
on investments
(4,127)
(207,963)
(40,417)
(252,507)
Net unrealised gains/(losses)
14
on investments
-
(34,331)
-
(34,331)
Net income/(expenditure)
(4,127)
(242,294)
(40,417)
(286,838)
Transfer between funds
34,127
(74,544)
40,417
-
Net movement in funds
30,000
(316,838)
-
(286,838)
Reconciliation of funds
Total funds brought forward
19
190,000
1,454,443
-
1,644,443
Total funds carried forward
19
220,000
1,137,605
-
1,357,605		 Total
2022
£
860,698
37,093
36,805
121,964
433
24,800
1,081,793
47,120
178,009
128,604
176,018
529,751
552.042
34,641
586,683
-
586,683
1,057,760
1,644,443

Balance sheet
Balance sheet Company number 04407861
Unrestricted Designated Restricted Total Total
Funds Funds Funds 2023 2022
Notes £ £ £ £ £
Fixed assets
Tangible assets 13 5,947 - - 5,947 8,462
Investments 14 - 705,495 - 705,495 739,826
5,947 705,495 - 711,442 748,288
Current assets
Debtors 15 75,341 - 116,500 191,841 158,021
Cash at bank 211,387 511,662 - 723,049 812,602
286,728 511,662 116,500 914,890 970,623
Current liabilities
Creditors: amounts falling 16 (72,675) (79,552) (116,500) (268,727) (74,468)
due within one year
Net current assets 214,053 432,110 - 646,163 896,155
Net assets 220,000 1,137,605 - 1,357,605 1,644,443
Represented by:
Restricted funds 19 - - - - -
Designated funds 19 - 1,137,605 - 1,137,605 1,454,443
General reserve 19 220,000 - - 220,000 190,000
Net funds 220,000 1,137,605 - 1,357,605 1,644,443

For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The Statement of Financial Activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities. The comparative Statement of Financial Activities is shown in note 22.

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These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

The financial statements were approved and authorised for issue by the trustees on 12 July 2023 and were signed below on its behalf by

Imogen Clark

Chair of Trustees

Cash Flow

Cash Flow
Notes
Net cash provided by/ (used in)
operating activities
20
Cash fows from investing activities:
Purchase of fxed assets
Proceeds from sale of investments
Purchase of investments
Net cash (used in)/ provided by investing activities
Cash fows from fnancing activities:
Repayments of borrowing
Net cash used in fnancing activities
Change in cash and cash equivalents during the year
Cash and cash equivalents at 1 April 2022
Cash and cash equivalents at 31 March 2023
Analysing cash and cash equivalents
Cash on hand
Cash and cash equivalents at 31 March 2023		 2023
£
(88,546)
(1,007)
-
-
(1,007)
-
-
(89,553)
812,602
723,049
723,049
723,049		 2022
£
325,137
(8,993)
-
-
(8,993)
-
-
316,144
496,458
812,602
812,602
812,602

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Notes to the financial statements

1. ACCOUNTING POLICIES

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Basis of accounting

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) – (Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Age UK London meets the definition of a public benefit entity under FRS 102.

Group accounts have not been prepared as Age UK City of London is no longer under the control of Age UK London and the two subsidiaries are not trading and not material.

Legal status

Age UK London is a company limited by guarantee registered in England and Wales and has no shares. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The charity’s registered address is Crown House, 27 Old Gloucester Street, London, WC1N 3AX. Its registered company number is 04407861 and its charity number is 1092198.

Preparation of the accounts on a going concern basis

Income

All income is recognised once the charity has entitlement to income, it is probable that income will be received, and the amount of income receivable can be measured reliably and that any associated conditions have been met. Recognition of income is deferred where conditions specify that such income relates to future accounting periods.

Where donors specify that funds are for specific purposes such income is included in incoming resources of restricted funds.

Donations and legacies are included in full in the Statement of Financial Activities when there is entitlement, probability of receipt and the amount of income receivable can be measured reliably. Legacies are recognised on a case-by-case basis following the grant of probate and when the administrator/executor for the estate has communicated in writing both the amount and settlement date being reliably measurable with a degree of accuracy.

Grants receivable are credited to income for the period for which the charity becomes entitled to the income. Grants received that have restrictions on entitlement relating to services that have not yet been delivered are treated as deferred income at the balance sheet date. Grants received without any restriction on entitlement are recognised in full upon award.

Income from charitable activities is recognised as earned as the related services are provided. Income from other trading activities is recognised as earned as the related goods and services are provided.

Investment income is recognised on a receivable basis once the amounts can be measured reliably.

The Trustees are satisfied that the charity is a going concern, and that these accounts should be prepared on that basis.

Critical accounting judgements and estimates

In preparing these financial statements, management has made judgements, estimates and assumptions that affect the application of the charities accounting policies and the reported assets, liabilities, income and expenditure and the disclosures made in the financial statements. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Grants payable, committed at the year-end for which there are no conditions attached, are accrued as a liability.

“Raising funds” includes the costs of advertising for charity legacy appeals, participating in community fundraising and developing major donor relationships.

• Network Focus

The Charity incurs support costs to enable its charitable and fundraising activities as described above. These support costs include the costs of general management (including finance, IT and HR), governance and premises functions, which are allocated to the Charity’s activities on the basis of staff time spent on each activity. Governance costs include the costs of compliance with constitutional and statutory requirements, external independent examination and the cost of legal advice for the Trustees, as well as staff time spent on governance matters. Governance and support costs are allocated to the Charity’s activities on the basis of staff time spent on each activity.

Operating leases

Rentals payable under operating leases are charged to the Statement of Financial Activities as incurred on a straight-line basis over the period to the next rent review.

Employee benefits

Short term benefits

Short term benefits including holiday pay are recognised as an expense in the period in which the service is received.

Employee termination benefits

Termination benefits are accounted for on an accrual basis and in line with FRS 102.

Pension scheme

Age UK London operates a defined contribution pension scheme for the benefit of its employees. The assets of the scheme are held independently from those of Age UK London in an independently administered fund. The pensions costs charged in the financial statements represent the contributions payable during the year.

Funds

Unrestricted funds are donations and other income receivable or generated for the objects of the charity.

Designated funds are unrestricted funds earmarked by the trustees for particular purposes. These are divided between strategic reserves, which the trustees have specified will be used for specific strategic purposes, and special reserves which the trustees have specified will be used for charitable purposes after discussion with the local Age UKs.

Restricted funds are those funds which are to be used in accordance with specific instructions imposed by the donor or trust deed.

Fixed assets and depreciation

All assets costing more than £1,000 are capitalised at cost.

Tangible fixed assets are depreciated on a straight-line basis over their estimated useful lives as follows:

IT equipment – over 3 years

Office equipment – over 3 to 6 years

Investments

Investments are a form of basic financial instruments and initially shown in the financial statements at market value.

Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments, including trade and other debtors and creditors are initially recognised at transaction value and subsequently measured at their settlement value.

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Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

2. Income from donations and legacies

Donations
Legacies
Total		 2023
2022
£
£
5,482
3,152
355,437
857,546
360,919
860,698

All income from donations is unrestricted. A restricted legacy of £109,200 was received which Age UK London were unable to fulfil therefore, after seeking legal advice, it was agreed to transfer the funds to a brand partner within the London Network who could fulfil the requirements.

3. Income from charitable activities

Unrestricted Restricted 2023 Total Unrestricted Restricted 2022 Total
£ £ £ £ £ £
Age UK – winter vaccines 17,471 - 17,471 17,093 - 17,093
Mercers – social isolation - 20,000 20,000 - 20,000 20,000
WCIT 7,299 7,299 - - -
Sub-total for Core
campaigns 17,471 27,299 44,770 17,093 20,000 37,093
City Bridge Trust 3,600 - 3,600 5,765 - 5,765
Greater London Forum 31,078 - 31,078 31,040 - 31,040
King’s College London 1,921 - 1,921 - - -
NHS
Sub-total for Shaping		 465 - 465 - - -
the agenda 37,064 - 37,064 36,805 - 36,805
Age UK 121,964 - 121,964 121,964 - 121,964
Sub-total for Supporting
the network 121,964 - 121,964 121,964 - 121,964
Total income from
charitable activities 176,499 27,299 203,798 175,862 20,000 195,862

4. Income from investments

Bank interest receivable
Loan interest receivable
Total		 2023
2022
£
£
916
433
-
-
916
433

Dividend and interest income earned within the Charity’s investment portfolio accumulates into the capital value of the funds.

5. Other income

Other income of £10,000 (2022: £24,800) is the brand agreement payment from Age UK (2022: £10,000); in 2022 an additional £14,000 came from recharges of management and overheads to its subsidiaries prior to the closure of Trading and Retail.

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6a. Analysis of expenditure (current year)


Staff costs
Direct costs
Grants awarded
Transfer of funds
(note 19a)
Premises
IT infrastructure
Gen management
Support costs
Governance costs
Total expenditure
2023
Total expenditure
2022		 Raising
Core
Shaping Supporting Governance
Support2023
2022
funds campaigns the agenda the network
costs
costsTotal
Total
£
£
£
£
£
££
£
21,449
126,812
53,745
17,732
8,143
88,913 316,794 309,161
2,118
15,441
118,013
2,600
7,352
- 254,724
31,325
-
-
-
207,963
-
- 207,963
151,658
-
-
-
109,200
-
- -
-
-
-
-
-
-
11,075 11,075 (2,066)
-
-
-
-
-
22,163 22,163 19,011
-
-
-
-
-
15,421 15,421 20,662
23,567
142,253
171,758
337,495
15,495
137,572 828,140
529,751
13,429
79,393
33,648
11,102
-
(137,572) -
-
1,513
8,942
3,790
1,250
(15,495)
- -
-
38,509
230,588
209,196
349,847
-
- 828,140 -
47,120
178,009
128,604
176,018
-
- -
529,751

6b. Analysis of expenditure (prior year)


Staff costs
Direct costs
Grants awarded
Premises
IT infrastructure
Gen management
Support costs
Governance costs
Total expenditure
2022		 Raising
Core
Shaping Supporting Governance
Support2022
funds campaigns the agenda the network
costs
costsTotal
£
£
£
£
£
££
23,408
96,996
64,229
13,490
8,540
102,428 309,161
4,853
2,846
12,497
-
11,129
- 31,525
-
-
-
151,658
-
- 151,658
-
-
-
-
-
(2,066) (2,066)
-
-
-
-
-
19,011 19,011
-
-
-
-
-
20,662 20,662
28,261
99,842
76,796
165,148
19,669
140,035 529,751
16,537
68,540
45,427
9,531
-
(140,035) -
2,323
9,627
6,380
1,339
(19,669)
- -
47,120
178,009
128,604
176,018
-
- 529,751

7a. Grant making (current year)

There was a reduction in grants made by Age UK London to London Age UKs since 2021. This is due to changes in the grants received by Age UK London from Age UK.

Following the closure of the Age UK Trading business (which led to the closure of one of the Age UK London trading subsidiaries) Age UK made a number of transition grants to Age UK London. In the years up to and including 2020-21 the board decided to distribute this transition grant to London Age UKs in the same year and on a basis that all London Age UKs received a relatively modest amount. The board reconsidered this approach to the use of the transition grant and decided that while remaining committed to distributing this grant to London Age UKs, greater impact would be achievable by fewer, more substantial grants. Therefore, the board agreed that the transition grant received during 2021-22 (£121,964) was to be moved to the Special Reserve Fund and to be used to fund projects in 2022-23 to improve the sustainability of London Age UKs. A third round of Special Reserve Fund grants were awarded in 2022-23, the first tranche of which was distributed to London Age UKs in 2022-23, the second and third tranches will be distributed in 2023-24.

The Board agreed that with the closure of the SRF fund the balance of funds remaining on the SRF were to be distributed equally between all the London Age UKs in line with the grant made by Age UK National to fund the work they are delivering to support older Londoners with the cost of living crisis. Each partner received £3,616.

The board does not anticipate that any further transition grants related to the closure of the trading subsidiary will be received.

the trading subsidiary will be received.
Special Reserve Fund restricted grants
Special Reserve Network distribution		 Grants to Age UK
2023
Network
£
£
128,411
128,411
79,55279,552
207,963
207,963

7b. Grant making (prior year)

Special Reserve Fund Grants to Age UK
2022
Network
£
£
151,658
151,658
151,658
151,658

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8. Net income / (expenditure) for the year

This is stated after charging:
Depreciation
Auditors remuneration (excluding VAT):
-audit services
Independent examiner remuneration (excluding VAT)
-independent Examination services		 2023
2022
£
£
3,522
1,467
-
7,500
3,675
-
7,197
8,967

9. Analysis of staff costs, trustee remuneration and cost of key management personnel

Staff costs were as follows:
Salaries and wages
Social security costs
Employer’s contribution to defned contribution pension scheme		 2023
2022
£
£
279,482
272,723
25,040
28,764
12,272
12,674
316,794
309,161

No agency staff costs were incurred in 2023 (2022:£nil).

One employee earned within £60,000-£69,999 during the year (2022 One employee earned within £60,000-£69,999).

The total employee benefits (including pension contributions and employer’s national insurance) of the key management personnel were £75,897 (2022: £72,747).

The charity trustees were neither paid nor received any other benefits from employment with the charity in the year (2022: £nil). No charity trustee received payment for professional or other services supplied to the charity (2022: £nil).

No trustee received reimbursement for expenses incurred in carrying out their duties (2022: nil).

11. Related party transactions

The wholly owned trading subsidiaries, Age Concern London Retail Company Limited (company number 08099352) and Age Concern London Trading Limited (company number 06446184), were struck off in May 2022. On the closure of the bank accounts the balance (0.02p) was transferred to Age UK London

There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.

12. Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

13. Tangible fixed assets

Fixtures and fttings Computer equipment
 Fixtures and fttings Computer equipment
 Total
£ £ £
Cost
At the start of the year 2,340 8,993 11,333
Additions in year - 1,007 1,007
Disposals in year - - -
At the end of the year 2,340 10,000 12,340
Depreciation
At the start of the year 1,872 999 2,871
Charge for the year 468 3,054 3,522
Eliminated on disposal - - -
At the end of the year 2,340 4,053 6,393
Net Book Value
At the end of the year - 5,947 5,947
At the start of the year 468 7,994 8,462

All of the above assets are used for charitable purposes.

10. Staff numbers

The average number of employees (head count based on number of staff employed)

during the year was 9 (2022: 8). The full time equivalent during the year was 7 (2022: 6).

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14. Investments

14. Investments
Fair value at the start of the year
Additions at cost
Disposal proceeds
Net gain / (loss) on the change in fair value
Cash held in investment portfolios
Fair value at the end of the year		 2023
2022
£
£
739,826
705,185
-
-
-
-
(34,331)
34,641
705,495
739,826
-
-
705,495
739,826

Investments are split between Sarasin’s Climate Active Endowments Fund Class and their Income and Reserves Fund Class A Account.

15. Debtors

15. Debtors
Trade debtors
Other debtors
Amounts due from subsidiaries
Prepayments
Accrued income

 2023
2022
£
£
2,598
0
1,504
1,081
-
-
1,115
1,345
186,624
155,595
191,841
158,021

16. Creditors

Trade creditors
Taxation and social security
Grants payable
Other creditors
Accruals
Accrued transfer of restricted legacy (note 19a)

Deferred income (note 17)		 2023
2022
£
£
1,903
5,690
7,418
6,487
-
33,912
1,888
9,314
141,018
17,144
109,200
-
7,300
1,921
268,727
74,468

17. Deferred income

Deferred income relates to income received during the year for services that have not yet been provided, and will be released to the statement of financial activities in 2023-24.

2023 2022
£ £
Balance at the beginning of the year 1,921 7,686
Amount released to income in the year (1,921) (7,686)
Amount deferred in the year 7,300 1,921
Balance as of 31 March 2023 7,300 7,686

18. Pension scheme

The Charity operates a defined contribution scheme with Scottish Widows (previously Zurich before Scottish Widows acquired the Zurich Corporate Pensions Company schemes). The cost of the employer’s contributions into the defined contribution scheme for the year was £12,273 (2022: £12,674). No employees (2022: nil) received contributions to their private pension schemes.

19a. Movements in funds (current year)

Restricted funds:
Mercers – social isolation
Legacy
Worshipful IT
Total restricted funds
Unrestricted funds:
Designated funds
Strategic reserve
Special reserve
Total designated funds
General fund
Total unrestricted funds
Total funds		 At 1 April
Income &
Expenditure
Transfers
At 31 March
2022
gains
& losses
2023
£
£
£
£
£
-
20,000
(58,166)
38,166
-
-
109,200
(109,200)
-
-
-
7,299
(9,550)
2,251
-
-
136,499
(176,916)
40,417
-
1,051,443
-
(34,331)
(28,435)
988,677
403,000
-
(207,963)
(46,109)
148,928
1,454,443
-
(242,294)
(74,544)
1,137,605
190,000
439,134
(443,261)
34,127
220,000
1,644,443
439,134
(685,555)
(40,417)
1,357,605
1,644,443
575,633
(862,471)
-
1,357,605

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The transfer of £30,000 (2022: £318,196) from the general reserve to the strategic reserve relates to amounts approved by the Board to ensure that the general reserve remained in accordance with the reserve policy. The funds are described in more detail on page 15/16.

19b. Movements in funds (prior year)

Restricted funds:
Age Allies (City Bridge Trust)
Holobalance
Mercers – renters campaign
Mercers – social isolation
Total restricted funds
Unrestricted funds:
Designated funds
Strategic reserve
Special reserve
Total designated funds
General fund
Total unrestricted funds
Total funds		 At 1 April
Income &
Expenditure
TransfersAt 31 March
2021
gains
& losses
2022
£
£
£
£
£
5,960
-
(5,992)
32 -
4,656
-
(17,244)
12,588
-
4,739
-
(5,360)
621 -
-
20,000
(20,577)
577 -
15,355
20,000
(49,173)
13,818
-
698,606
34,641
-
318,196
1,051,443
152,978
-
(151,658)
401,680
403,000
851,584
34,641
(151,658)
719,876
1,454,443
190,821
1,061,793
(328,920)
(733,694)
190,000
1,042,405
1,096,434
(480,578)
(13,818)
1,644,443
1,057,760
1,116,434
(529,751)
-
1,644,443

20. RECONCILIATION OF NET EXPENDITURE TO NET CASH USED IN OPERATING ACTIVITIES

Net income/(expenditure) for the reporting period
Adjustments for:
Depreciation charge
Additions of fxed assets
(Gains)/losses on investments
Dividends, interest and rents from investments
(Increase)/Decrease in debtors
Increase/(Decrease) in creditors
Net cash used in operating activities		 2023
2022
£
£
(286,838)
586,683
3,522
1,467
34,331
(34,641)
-
-
(33,820)
28,847
194,259
(257,219)
(88,546)
325,137

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21a. Grants to London Age UK Boroughs

During 2021-22 Age UK London committed £403,000 to its Special Reserve Fund as restricted grants (round 3) to the Age UK Network. Grants totalling £276,821 were granted. The grants were to be paid in tranches by reference to delivery against the grants’ objectives which meant that £138,411 was paid in 2022-23 and £138,410 will be paid out in 2023-24.

The final payment of £10,000 from round 2 to Age UK Sutton was accrued for at the end of 2021-22 but was not paid out in 2022-23 therefore reducing the movement on the SRF to £128,411.

The Board agreed that the surplus funds on the SRF account was to be distributed evenly to the London network partners.

Special Reserve Grant
£
Age UK Sutton (10,000)
Age UK Barnet 24,967
Age UK East London 25,940
Age UK Merton 25,173
Age UK Redbridge, Barking and Havering 24,978
Age UK Richmond 22,500
Age UK Waltham Forest 14,853
Total 128,411
Closure of SRF Total 2023Total 2022 Total 2023Total 2022
£ £ £
Barnet 3,616 3,616 -
Bexley 3,616 3,616 -
Bromley & Greenwich 3,616 3,616 -
Camden 3,616 3,616 -
Croydon 3,616 3,616 -
Ealing 3,616 3,616 -
East London 3,616 3,616 -
Enfeld 3,616 3,616 -
Hammersmith & Fulham 3,616 3,616 -
Hillingdon, Harrow & Brent 3,616 3,616 -
Hounslow 3,616 3,616 -
Islington 3,616 3,616 -
Kensington & Chelsea 3,616 3,616 -
Lambeth 3,616 3,616 -
Lewisham & Southwark 3,616 3,616 -
Merton 3,616 3,616 -
Redbridge, Barking & Havering 3,616 3,616 -
Richmond upon Thames 3,616 3,616 -
Sutton 3,616 3,616 -
Waltham Forest 3,616 3,616 -
Wandsworth 3,616 3,616 -
Westminster 3,616 3,616 -
TOTAL 79,552
79,552		 -

Distribution of the surplus SRF balance to the London Age UK network as designated funds after allowing for payment of the tranches from the third and final SRF grant, still to be paid out in 2023-24 as per reference against the grants’ objectives.

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21b. Grants to London Age UK Boroughs 2022 (prior year)

During 2020-21 Age UK London committed £303,317 from its Special Reserve Fund as restricted grants to the Age UK Network. The grants were paid in tranches by reference to delivery against the grants’ objectives; this meant than £151,659 was paid in 2020-21 and £151,658 was paid, or accrued for, in 2021-22.

Special Reserve Grant
£
Age UK Kensington and Chelsea 25,000
Age UK Redbridge 24,983
Age UK Enfeld 17,826
Age UK Sutton 20,000
Age UK Croydon 24,800
Age UK Bexley 16,225
Age UK Waltham Forest 22,824
Total 151,658

22. Prior year Statement of Financial Activities

Income from:
Donations and legacies
Charitable activities
Core campaigning
Shaping the agenda
Supporting the network
Investment income
Other income
Total income
Expenditure on:
Raising funds
Charitable activities
Core campaigning
Shaping the agenda
Supporting the network
Total expenditure
Net income/(expenditure) before
net gains/(losses) on investments
Net gains/(losses) on investments
Net income/(expenditure)
Transfer between funds
Net movement in funds
Funds brought forward
Funds carried forward at 31 March 2022		 Unrestricted
Designated
Restricted
Total
Total
Funds
Funds
Funds
2022
2021
£
£
£
£
£
860,698
-
-
860,698
133,844
17,093
-
20,000
37,093
41,572
36,805
-
-
36,805
32,248
121,964
-
-
121,964
215,464
433
-
-
433
433
24,800
-
-
24,800
40,119
1,061,793
-
20,000
1,081,793
463,680
47,120
-
-
47,120
57,918
134,828
-
43,181
178,009
171,580
122,612
-
5,992
128,604
166,297
24,360
151,658
-
176,018
473,952
328,920
151,658
49,173
529,751
869,747
732,873
(151,658)
(29,173)
552,042
(406,067)
-
34,641
-
34,641
183,606
732,873
(117,017)
(29,173)
586,683
(222,461)
(733,694)
719,876
13,818
-
-
(821)
602,859
(15,355)
586,683
(222,461)
190,821
851,584
15,355
1,057,760
1,280,221
190,000
1,454,443
-
1,644,443
1,057,760

56

55

Annual Review 2023

Annual Review 2023

23. Prior year Balance Sheet

Fixed assets
Tangible assets
Investments
Current assets
Debtors
Cash at bank
Current liabilities
Creditors: amounts falling
due within one year
Net current assets
Net assets
Represented by:
Restricted funds
Designated funds
General reserve
Net funds		 Unrestricted
Designated
Restricted
Total
Funds
Funds
Funds
2022
£
£
£
£
8,462
-
-
8,462
-
739,826
-
739,826
936
705,185
-
706,121
56,291
101,730
-
158,021
156,489
656,113
-812,602
212,780
757,843
-
970,623
(31,242)
(43,226)
-
(74,468)
181,538
714,617
-
896,155
190,000
1,454,443
-
1,644,443
-
-
-
-
-
1,454,443
-
1,454,443
190,000
-
-
190,000
190,000
1,454,443
-
1,644,443

58

57

Age UK London is a charity that campaigns for an age-friendly London. Working with older Londoners themselves, we campaign for specific change to improve the lives of those over 50 living in the capital and ensure that their experiences, needs and contributions are heard and taken into account by decision makers.

Age UK London, Crown House, 27 Old Gloucester Street, London WC1N 3AX (postal only).

Website: www.ageuk.org.uk/london Twitter: @AgeUKLondon Email: campaigns@ageuklondon.org.uk

Registered charity number 1092198. Age UK London is a company limited by guarantee, registered in England and Wales number 4407861.