Company registration nwnber: 04750114 Charity registration number.. 1103557 Age Concern Reading known as Age UK Reading (A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 March 2024 David Jones & Co 2018 Limited The Centr¢ Reading Road Eversley Centre Hampshire RG27 ONB
Age Concern Reading known as Age UK Reading Contents Reference and Administrdtive Details Trustees, Report 2to9 Independtnt Examinees Report io ststement of Financial Activities Balance Sheet 12 Notes Éo the Financial Statements 13to23
Age Concern Reading known as Age UK Reading Reference and Administrative Details Charlty Registratlon Number 1103557 Company Registration Number 04750114 The charity is incorporated in England. Walford Hall Carey Street Reading Berkshire RGI 7JS Registered Office Independent Examiner David Jones & Co 2018 Limited The Centre Reading Road Eversley Centre Hampshire RG27 ONB Page I
Age Concern Reading known as Age UK Reading Trustees, Report The trustees, who are directors for the purposes of MpanY law. PTesent the annual report together with the financial statements of the charitable company for the year ended 31 March 2024. Objectives and activities Objects and aim In setting objectives and planning activities, tbe Trustees have given careful consid¢ration to the Charity Commission's general guidance on public benefit. The key objective of Age Concern Reading trading as Ag¢ UK Reading (and henceforth referred to in this document as "Age UK Reading") is to promote the welfare of older people within the greater Reading are& Public benefit Age UK Reading has continued to provide a range of much valued services to older people in the Reading area as outlined below. Thanks and acknowledgement rnust go to the donors, funders and supporters of Age UK Reading. and also to Age UK nationally, for their continued support. The trnstees confirni that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. INFORMATION AND ADVICE Age UK Reading provides thi5 free. confidential. and irnpartial flagship service to older people. their families and careTS. The Information and Advice Service is available to anyone over the age of 50 in the Reading area and is provided by telephone. and email. We also tske in queries via our many other services throughout tbe year. Enquiry contacts for tbe year (April 2023 to March 2024) totalled 8.155 from 1.833 clients. a signiflcant increase on last year. We continue to do more work with the funding for this service staying the same since 2016. The Cases also continue to present as more complex. The ¢ost-of-living crisis ¢onlinues to put both the organisation and our clients under increased pressure. In addition to our "standard" Information and Advice service. we have successfully tendered for the Carers Inforn]alion and Advice service. We are working on tbis as one part of the new Carers Partnership. which comprises ourselves. Age UK Berkshire, Reading Mencap and Conllnunicare. The contract started on 1st of November 2022. We have continued this year to deliver a respected seNic¢ in increasingly desperate circurnstances as the Adult Social Car¢ system remains under huge pressure. The s¢rvice r¢gularly attracts prdise and the partnership between the 4 charities is exemplary. POP IN During 2023 and 2024 this group bas continued to thrive with over 20 members who often feedback how much they enjoy coming to the group and ofien Teconllnend it to friends. It provides a space for people to come together and socialize, as well as taking part ID a variety of activities including singing and movement wbich is beneficial to their health and ivellbeing. We also get referrals from social services, mental health workers and local GP services. We have recently Telocated the group to The Oasis Centre in Carey Street, Reading and have been made to feel very welcome by the Church community who the centre. The clients are settling in and enjoying the new bright and cosy environment and the oppottsnity to use some of the Oasis facilities e.g. snooker tablelgames. In December 2023 the clients were invited to Christmas lunch and entertainment kindly sponsored by Visa U.K. Page 2
Age Coneern Reading known as Age UK Reading Trustees, Report We had a visit in May 2024 from the local Citizens Advice Reading VAK) gave an overview on the services they provide. as well as a focused discussion on Energy Help which was well received and prompted a nun)ber of questions, and son]e clients opted to have a sho¢_PTivate dÈscussion with the speaker. MCST DEMENTIA GROUP These groups bave continued to develop rapidly over 202312024. MCST stands for Maintenance of Cognitive Stimulation Th¢rapy. It is designed as a continuation of the time limtted CST course the NHS provides in some areas. We have tried to set up our MCST on a model that also Provides an opportunity for respite for carers. Our third group was established at tbe end of 2023 and the fourth in June 2024. In tern of location. we now have 2 groups in Woodley, l in Reading and our m05t Tecent in Caversham. Plans are afoot for a 5th group. RefTalS are ongoing from the NHS Memory Clinics, Alzheimers Society Social workers and word of mouth. We regularly receive feedback that is extremely positive. STAR GROUP During 2023 12024 the STAR group has continued to develop and now has a nun]b¢r of new members. with more waiting to com¢ on board. We offer the first session as a free taster so that people can try out and see whether it is for them. The majority do convert and become regular members. It Provides an opportunity for clients who are sometimes less able to come along and engage in physical and mental activities, including craft games. noodle football! etc. Memb¢TS of the group also attended the Xm&s Lunch at Visa in 2023. IL4PPY FEET Age UK Reading Happy Feet provides a local toenail cutting service to people over the age of 50, who need help cutting their toenails and do not need full chiropody services. The feedback for this service is overwhelmingly positive and we are aware it has a large ripple effect in tern of the wellbeing it Sends through the community. The moment of human contact and conversation at the appointment is looked forward to by many of our clients. The improved condition of their feet empowers them to stay active and Connected to their wider community. There is also an obvious link to the prevention of accidental falls. Since lockdown in March 2020, we have gradually rebuilt the Happy Feet Service and increase the number of clients we see. It Currently stands at nearly 900 clients. Our venues The Weller Centre - Caversbam Park URC - Earley Birches - WoodleyarIeY Southcote Family Church - Southcote Bullbrook Community Centre- Bracknell- Closed December 2023 Norrey's Church - Wokingham- Tempor2rlly suspended March 2024 In December we had to close our venue in Bracknell as we no longer had staff to cover this area. Page 3
Age Concern Reading known as Age UK Readlng Trustees, Report In January 2024 we opened a venue at Norreys Church in Wokingham but had to suspend this in March 2024, again due to staff shortages. We had 12 nail cutters in totsl in April 2024 and were W0]ng to build each session that we rjn to 4 cutters per session and 5 at our busiest venues. However. we lost 5 nail cutters in May. June and July 2024. This meant we had lo suspend our services in Wokingham. We have since employed 2 new nail cutters. so we are back up to 9. Our aim is to Teopen Wokingbam by the end of 2024 or early 2025. We are in the process of switching the Happy F¢et services to an onlin¢ application called Fresha which should help to streamline the booking service and help it to run more efficiently. SHOPPING When lockdoivn started in March 2020 it came to light that many elderly people were unable to leave their home independently to go out and do their shopping &% they had to isolate. So. we decided to set up a team of trained and vetted volunteers who could go and shop for them. This was set up quite quickly and was a work in progress as we went along. We started with one shop and then built tbe service around the needs of the client. After the first lockdown was lifted, we look¢d at the importance of the shopping service for clients who Could not shop for themselves and looked at ways that we could continue with this and offer it as part of the AUKR service. We set in place a small shopping charge for those ivho wanted to continue to be supported by AUKR and its volunteers. The service nms on a much smaller scale with only 4 shops a week and 3 volunleers. We plan to keep this in place for the 4 clients that depend on the seryice. BEFRIENDING Our befriending service is committed to providing companionship and support to socially isolat¢d and lonely older adults in the greater Reading area. We match volunteers with older individuals based on shared interests and arrange regular phone calls or visits. Depending on their needs, some older adujts receive calls, some receive visits, and some benefit from both. In January 2024, we implemented Volunteero, an app-based volunteer management systeDL which has improved volunteer visibility. m8nagem¢nt, alld support. This system offers several benefits, including centralised systems where client and volunteer profiles are linked and stored in one place. Additionally, we have a streamlined onboaTding process that is easy to Irack. Volunleero also enhances security, as applications and reports are encrypted and sent directly to the Cloud, bypassing emails. Consequently, email traffic to and from volunteers has significantly reduced. allowing the team more time to review and support the business rather than being overwhelmed with spreadsheets and administrative tasks. Page 4
Age Concern Reading known as Age UK Reading Trustees, Report Total number of conts¢ts Starting in January 2023, we implemented more accuTate. robust, and auditable reporting, making comparisons with previous years potentially misleading IegardiDg the level of activity. For the year to March 2024, we recorded 2,100 contacts, nearly evenly split between telephone befriending and face-to-face visits. This is significant sbift from the previous year. where telepbone befriending made up 84/0 of the contacts. As life has reknrned to normal. we've seen a decline ID telephone befriendillg reques with most new refettals prefening in-p¢rson meetings. Service Users (Befriendees) at 31st March 2024 Gender Number Male 17 (120/0) Female 62 (780/0) Total 79 Age range 64 - 102 Median age 83 At the end of tbe year, we had 79 active service users, with 12 more on the waitlist due to a shortage of suitable volunteers in their local area. Calls and visits have remained consistent tbroughout the year, with strong follow-ups to ensure volunteers submit their Teports. Since implementing Volunteern, volunteers receive reminders if their reports are delaye(L leadiug to an increase in the number of reports submitted. Volunteers (Befrienders) Gender Number Male 9 (160/0) Female 49 (840/0 Total 58 It's encouraging to see an tncrease in male volunteers. However. re¢witing and relaining volunteers remain5 a challenge. Although we onboarded several new volunteers throughout the year, we a150 lost a similar number, resulting in stalled groth. Additionally, a significant amount of time is spent onboarding volunteers who initially have time to spare but later decide not to volunteer once they start WOTking. Volunteer recruitment continue5 to be a priority, with tsrgets set for the remainder of 2024 to achieve real growth. This effort faces its own challenges. as many potential volunteers work full-time and have limited availabiIity, despite their eagerness to give back to the community. GARDENING Gardening continues to be a popular project and is growing slowly. We are in the process of adding our third gardener. Page 5
Age Concern Reading known as Age UK Reading Trustees, Report HOMESHARE We have continued to recexve expressions of interest for this exciting service, and we still have a passion to get it started properly in Reading. Ivhilst we have been responding to leads where we can, we have had no dedicated resource to develop this service and so it has been slow progress. This year it is our aim to fijnd a COOTdinator to dedicate proper time and energy to this service and get il properly off the ground. CARER'S INFORMATION AND ADVICE Since November 2022 we have held the Carer's Infomation and Advice contract alongside our partners, Age UK Berkshire, Communicare and Reading Mencap. We have developed and improved the service significantly since then and continue to do so. We received 223 referrals in the last 12 months and found that many of the clients are in dire need of help and at their wits end. We receive regular positive feedback and Continue to work with partners and RBC to improve the service. VOLUNTEERS Our volunteers continue to be the life blood of all we do. Without a strong volunte¢r group, no charity can fulfil its Potenlial. Our volunteer5 continue to do proud. We would like lo take this opportunity to thank all of our volunteers for their continuin8 SUPPOrt and hard work as we try to improve the lives of older people in Reading. We continue to nm regular "thank you" events for volunteers. Our volunteers bring energy and life to Age UK Reading. supporting our staff to deliver arnazing results. PARTNERSHIP WORKING We continu¢ to value our close partneTships with other local charities in the area. We CODtinue to be active in tb¢ Reading Dementia Partnership, the Loneliness and Social Isolation group, RAN, and other local actlV15t groups. We have also continued to work in local fimding partnerships this year. working with others to deliver contracts through Éhe Councils "Closing the Gap" funding round as well as our successful tender to win the Carers l and A. We value the strength that Comes from unity as well as the highly valued expertise that our partners bring to the table. Without our partners we could not provide the comprehensive and holistic service that we offer to local people. WALFORD HALL Ownership of Walford Hall has moved from Reading Association for the Blind to Berkshir¢ Vision following a merger of those organisations. Berkshire Vision have since let the Hall lo a ihird party meaning we have had to relocate 3 of our services (which we managed to do successfully without a break in service). We continue to utilise the back-office section of Walford Hall but no longer have access to the main hall area. Page 6
Age Concern Reading known as Age UK Reading Trustees, Report DONATIONS RECEIVED During the year ending 31 Marcb 2024 the charity has once again received a very welcome level of donations fron] organisati_onal donors and from Age UK Reading Clients and members of the public. To all these benefactors we extend our heartfelt thanks. Your support Ii&s been critical to survival. The organisational donors are as follows." Reading Bicycle Kitchen, Reading Tilehurst Heigbts (E) Towns Women's Guild, Gillette UK Ltd and Verdant Financial Planning. The Age UK Reading clients and members of the public ale as follow5: B Pollard. C Moulsley. D Bullock, E Calationo, F Thomas, J Char(t K Webb, P Tucker and P Dooley, along with many other donations that we have received alongside our services for our Happy Feel STAR club and Pop In clients, and our wonderful Volunteers who participated in our special Volunteets, evenL Financial revieiv The Financial Statements for the year ending 31 March 2024 show a net surplus of £28.560 (2023: deficit of £{44,506)). Policy reserves In order to ensure that we meet commitments to service users and to the staff, the Tntee5 have a policy of aiming to maintain total unrestricted reserves. at a level of 12 months of expenditure. The Cuent level of reserves excluding restricted funds represents 4 months. Unrestricted reserves of £93,609 (2023: £43,589) were held at the year end and restricted reserves were £10.606 (2023.. £32.066). Age UK Reading plans to increase the level of reserve5 over tUre periods to rebjrn to the target level of 12 months. We plan to do this though a mixtur¢ of fUndlsing. and an increas¢ in income generating activities. Plans for futhre periods Aims ondkey objectivesforfu¢ureperi041s Having made a surplus last fmancial year, we continue to work hard OJ developing income generdting services and ndraisIng. So far. we are on budget for tbis year and have big plans for the future. We now p12n to consolidate our post Covid position, developing our income generating s¢rvice5 to increase our stability, whilst investing ¢neTgy in fundraising to drive advances in technological efficiency and developin8 the charity into exciting new areas. Going eoncern The Trustees consider that there are no material uncertainties about the charitable Companys ability to continue as a going concern. The Board of Trustees have considered the W0]ng capital and Cashflow requirements and consider that the current and forecast cash resources are sufficient to cover the working capital requirements of the Charity for at least 12 months. They have therefore Continued to adopt the going concem basis in preparing their financial ststements. Page 7
Age Concern Reading known as Age UK Reading Trnstees, Report Trustees and officers The trustees and officers serving during the year and since the year end were as follows: Trustees.. Mr J Wilknnson Mr G Lightfoot Mrs K Bews Mrs B Hobb5 (Resigned 2 May 2023) Mr B Shrestha (appointed 30 July 2024) Strueture. governance and management Recruitmenl and appoinlmenl oftruslees To recrnit our Trnstees we advertise the rol¢ on social media, our website and on third party sites like Reach Volunteering. and Reading Voluntary Action. We use a role profile and person specification so the candidate knoivs what we are looking for. When an expression of interest is received the candidate has an infornial telephone conversation with the CEO and is invited to apply on a volunteer appli¢ation form. They then meet the CEO for a Conversation about the role and their candidacy. If this is seen to go well they then meet with the CEO and the Chairnian for a further conversatioL The aim of this conversation is for both sides to assess whether the person is right for the role and to allow both parties to learn more about each other. in particular their skill-set. motivations, and what they hope lo bring to the role. The candidate then meets the CEO for thorough induction to the organisation and issued with a copy of The Essential Trustee. We go through the key legal inforniation and the Fit and Proper Person forni is signed. The candidat¢ will be off¢red locally available trustee training and attend an Age UK induction at a national level in London when available. If it is agreed that the candidate is suitable then we ask them to attend 3 board meetings before the board agree on whether to accept the person as a trustee designate. If accepted the person's nomination is then voted on by members at the next AGM. We have found this system Works well. Key management personnel are Chief Executive Officer. Finance Officer, and service co-ordinators. Page 8
Age Concern Reading known as Age UK Reading Trustees, Report Major nsks and managemenl of¢ho3e risks The T¥ustee5 have in p.lace a man4o¢ment proc.ess.to asse5s.Iisks aud iDwlement zisk. management strategies.. . The process includes reviews by Trustees and charity officers and identifies the types of risk that Age UK Reading faces. It prioritises them in ternls of likelihood of OCCUTrence and potential impact. and identifies means of mitigating these risks. The Charity has been agile in its Tespons¢s lo the legacy of the pandemic and has managed to obtain additional grant donations which have enabled it to actively and fiilly support its clients. The recently introduced systems to engender staff w¢llbeing have enabled all to respond positively to challenges as they have arisen. Statement of trustees, responsibilities The twstees (who are also the directors of Age Concern Reading for the purposes of company law) are responsible for preparing the trustees, report and the fman¢i21 statements in accordance with applicable law and United Kingdom Ac¢ounting Standards (Unsted Kingdom Generdlly Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Company law requires the tSteeS to prepare financial statements for each financial year. Under company law the trustees musl not approve tbe financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of Tesources, illcluding its in¢ome and expenditure, of the ¢kwitable company for that pertod. In preparing these finaucial statements, the trustees are required to: select suitable accounting policies and apply them consistently" obs¢rv¢ the methi)ds and principles in the Charities SORP; make judgements and estimates thal are reasonable and prudent. State whether applicable accounting standards, comprising FRS 102 have been followed, subj¢¢t to any material departures disclosed and explained in ihe financial statements- and prepare tbe fancIal staternents on the going concern blS unless it is inappropriate to presume that the charitsble company will Continue in busines5. The tSteeS are Tesponsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable cornpany and hence for taking reasonable steps for the prevention and detection of fraud and otlier irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial inforniation included on the charitable company's website. Legislation governing the preparation and dissemination of financial ststements may differ from legislation in other jurisdictions. The aDnual report was approved by the trustees of the clwity on . d Sied on its behalf by: Mr J Wilkinson Trustee Page 9
Age Concern Reading known as Age UK Reading Independent Examiner's Report to the trustees of Age Concern Reading ('the Company,) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024. Responsibilities and basEs of report As the chaEity'S trustees of the Company (and also its directors for the PUTposes of company law) you are responsible for the preparation of the accounts in a¢¢ordance with the requirements of the 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 th¢ 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity'5 a¢¢ounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act.). ID carrying out my examination I have followed the Directions given by tbe Charity Commission under section 145(5)(b) of the 2011 Act. Independent examiner's statement Since the Company's gross income exceeded £250.000 your exan)iner must b¢ a member of a body listed in section 145 of the 2011 Act. l Confirni that l am qualified to undertake the examination becawe I am a member of FCCA, which is one of the listed bodies. I have completed my examination. I confirni that no matters bave come to my attention in connection with tbe examination giving me cause to believe: accounting records were not kepl in respect of Age Concern Reading as required by section 386 of the 2006 Act. or 2. the accounts do not accord with thos¢ records: or 3. the accounls do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination- or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance wilh the Financial Reportin8 Stsndard applicable in the UK and Republic of Ireland (FRS 2)]. I have no should b s and have come across no other matter5 in connection with the examination to wbich attention in thts report in order to enable a proper understanding of the accounts to be reached. Antony Weller FCCA Th¢ Centre Reading Road Eversley Centre Hampshire RG27 ONB Date:. Page 10
Age Concern Reading known as Age UK Reading Statement of Financial Activities for the Year Ended 31 March 2024 (Including Income and Expenditsre Account and Statement of Total Recognised Gains and Losses) Unrestricted funds Restricted funds Total 2024 Note Income and Endowments from: Donations and legacies Charitable activities Inv¢slment income 12.549 240,824 71 12,549 294,759 71 53,935 Totsl income 253,444 53,935 307,379 Expenditure on: Charitable activities (203.424) (75,395) (278,819) Total expend1fte {203,424) (75,395) (278,819) Net incom¢/(expendithre) 50,020 (21,460} 28,560 Net movement in fimds 50,020 (21,460) 28,560 Reeoneiliation of funds Totsl fimds brought fotward 43,589 32,066 75,655 Total funds cauied forward 13 93.609 Unrestricted funds 10,606 Restricted funds 104,215 Total 2023 Note Income and Endowments from: Donations and legacies Charitable activities Investrnent income 18.030 144,384 198 18,030 196,104 198 51.720 Total income 162.612 51,720 214,332 Expenditure on: Charitable activities (209,436) (49,402) (258,838) Total expendituie (209.436) (49,402) (258,838) Net (expenditure)/income (46.824} 2.318 (44,506) Net movement in fimds (46,824) 2,318 (44,506) Reconciliation of funds Total fimds brought fonvard 90.413 29.748 120,161 Total fid$ carried forward 13 43.589 32.066 75,655 All of the charity's activities derive from continuing operations during the above two periods. The notes on pages 13 to 23 forni an integral part of these financial statements. Pagell
Age Concern Reading knoivn 2s Age UK Reading Olegistration number: 04750114) Balance Sheet as at 31 March 2024 2024 2023 Note Fixed asset5 Investments Current assets D¢btors Cash at bank and in hand io 15.515 116,195 6,617 95,094 131,710 101,711 Creditors: Amounts falling due witbiD one year 12 (27,496} (26,057 Net curreDt assets 104,214 75.654 Iyet assets 104,215 75,655 Funds of the tharity: Restrleted income funds Restricted funds 10,606 32,066 Unrestricted income funds Unrestricted funds 93,609 43.589 Total funds 13 104,215 75,655 FOT the financial year ending 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relaling to small companies. Directors, Tesponsibilities: The members have not requiTed the cbarity to obtain an audit of its accounts ftir the year in question in accordance with section 476. and The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to a¢¢ounting r¢¢ords and th¢ preparation of accounts. The finan¢jal statements on pages 11 to 23 were approved by the trustees, and authorised for issue on G ..1( .kd Si¢d on their behalf by: Mr J Wilkinson Trustee The notes on pages 13 to 23 fom an integral part of these financial statements. Page 12
Age Concern Reading known as Age UK Reading Notes to the Financial Statements for the Year Ended 31 March 2024 I Charity stat.us Thc charity is limited by guaL7lltee, incoryorated in England. and consequently does not have share capital. Each of the tSte¢S is liable to contribute an amount not exceeding WLI towards the assets of the charity in the event of liquidation. The address of its registered office is: Walford Hall Carey Street Reading Berkshire RG17JS These flllancial ststsments were authorised for issue by the trustees OD 6 November 2024. 2 Accounting po]icies Summary of significant 2C¢Ollnting polieies and key 2C¢OUDting estimates The principal &couuting poli¢ies applied in the preparation of these fiJ)ancial statements are set out below. These policies have been consistently applied to all the years presents4 untes5 Otherwise statr(L Statemeut of compliance The financial 5tstements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice (applicable to Glwities preparing their accounts in accordance with the Financial Reporting Stsdd appltcable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financiat Reporting Slandard applicable in the UK and Republic of Ireland (FRS 102) and the Conlpanies Act 2006. BASIS of preparation Age Concern Reading meets the definition of a public benefit entity under FRS 102. Assets aad Iiabiliti¢s are initially recognised at historical cost or transaction value unles5 otherwise stated in the relevant accounting policy Thote5. Going concern The trustees consider that there are no nrial uncertainties about the charity's ability to continue as a going oncern nor any signifiwit areas of un¢erlainty that affect the carrying valu¢ of &£sets held by the charity. llcome and endoTrvments All income is recognised once the charity has entitlement to the income, it is Probable that th¢ income wÉtl be received and the amount of the income receivable ¢an be measured reliably. Page 13
Age Concern Reading known a5 Age UK Reading Notes to the Financial Statements for the Year Ended 31 March 2024 DonalionN andlegacies Donations are recognised when the clwity h&8 been notified in lI]ng of b)th the amount and settlement date. Ill the event that a donation is subject to Conditions that require a I¢1 of performance by the ¢harity before the charity is entitled to the fimd5, the income is deferred and not recogn15ed until either those conditions are fully met. or the fulfilment of those Conditions is wholly within the control of the charity alld it is probable that these nditions will be fLfilled in the reporting period. Jnveslment income Dividends are recognised once the dividend has been declared and notification has been received ofthc dividend due. Expenditure All expenditure is recognised once the is a legal or constructive obligation to that expenditure, it is probable settlement 15 required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregats similar costs to that category. Where costs cannot be directly attrkbuted to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the b&sis of titne spenL and depreciation charges allocated on the portion of the asset's use. Other support Costs are allocated based on the spread of staff costs. Cht7riiable acliviliag Charitable ¢xpenditure wmprises costs incurred by the charity in the delivery of its activities and services for ils beneficiaries. It includes both costs that can be allocated directly to su¢h activities and those costs of an indirect nature necessary to support them. Taxatlon The Charity is considered to pass the tests set out in Paragr¥h I Schedule 6 of the Finance Act 2010 and therefore it meets the d¢fiDition of a Charitable company for UK cotporation tsx purposes. Accordingly. the charity is Potentially exempt from t&Yation in respect of income or capital gain5 received within categorie5 covered by Chapter 3 Part I l of the Corporation Tax Act 2010 or Section 256 of the Twtion of Chargeable Gains Act 1992, to th¢ extent that such income or gaiJL8 are applied exclusively to charitable Purposes. Depreciation and amortisation Depreciation is provided on taagible fixed as5¢ts so as to lte off tbe wst or valuatioffj less any estimated residual value, over their expected useful economic life follows: Asset cla58 Offi¢e equipment Depreciation method Ind rF4te 200/0 sti7ight line basis Fixed 4sset investments Fixed asset investments, other than progranime related investments, are included at market vaIue at the balance sheet date. Realised gains and losses on inveslm¢nts are calculated &8 the difference between sale5 proceeds and their maTket value at the start of the year, or their subsequent C05L and are charged or credited to the Statement of Financi Activities in the period of disposal. Unrealised gain5 and losses represent the tnovement in market values during the yrar and credited or charged to the Statement of Financial Activities based OD the market value at the year end. Page 14
Age Concern Reading known as Age UK Reading Notes to the Financial Statements for the Year Ended 31 March 2024 Trade debtors Trade debtors are amounts due from customers for merchandise sold or services perfornied in the ordinary "course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impaitmenL A provision for the impainnent of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due accoTding to the original temis of the receivables. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-tem) highly liquid inv¢stmentS that are readily convertible to a knovm an]ount of cash and are subject to an insignificant risk of change in value. Trade creditors Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilitie5 if the charity does not have an unconditional right, at the end of the reporting peri to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditionaI right to defer settlement for at least twelve months after the reporting date. they are presented as non-current liabilitÈes. Trade creditors are recognised initially ai the transaction price and subsequently measured at amortised cost using the effective interest metho(L Borrowings Interest-bearing borrowings are initialty recorded at fair va]ue, net of transaction costs. Tnterest-bearing bOowingS are subsequently carried at amortised ¢osL with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised &s a charge to the Statement of Financial Activities over the period of the relevant borrowing. Interest expense is recogt)ised on the basis of the effective interest method and is included in interest payable and similar charges. BoTTowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date. Fund strncture Unrestricted income fimds are general fimds tbat are available for use at the tSteeS discretion in fijrtberance of e objectives of the charkty. Reslricled income fimds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that ar¢a or purpose. Page 15
Age Concern Reading known as Age UK Reading Notes to the Financial Statements for the Year Ended 31 March 2024 3 Income from donatlons and legaefies Unrestricted funds General Total funds Donations and legacie5' Donations from individuals 12,549 12,549 Total for 2024 12,549 12.549 Total for 2023 18.030 18,030 4 Income fron) Charitable activities Unrestrieted funds General Restiicted funds Total 2024 Total 2023 Reading Borough Council tenders Activity Clubs income from clients Project income Shopping Service income Fundraising activities Grants receivable Grants receivable Grants receivable 81.342 81,342 51,868 20,346 122.383 2.337 4,416 20,346 122,383 2.337 4.416 7.499 46,436 10,000 4,062 75,144 1.310 7,499 46.436 51,720 12,000 10,000 240,824 53.935 294,759 196,104 5 Investment income Unrestrlcted funds General Total funds Interest receivable and Simil income. Interest receivable on bank deposits 71 71 Total for 2024 71 71 Total for 2023 198 198 Page 16
Age Concern Reading known as Age UK Reading Notes to the Financial Statements for the Year Ended 31 March 2024 6 Eipenditure on Charitable activlties Unrestricted fullds General Restricted funds Tot 2024 Total 2023 Wages and salaries Wages and salaries Staff NIC {Employers) Staff NIC (Employers) Staff pensions (Defined contribution) - pension scheme I Staff pensions (Defmed contribution) - pellsion schem¢ I Staff welfare and other staff costs Rent Rent Office expenses Office expenses Other costs Other ¢osts Accountsncy fees Independ¢nt examiner's fee 62.016 62.016 158,505 4,301 4297 49,402 138,206 158,505 4,301 4,297 11,311 1.092 1,092 4.706 4,706 4,407 10,540 2,441 2,441 7,339 1.345 7,694 4.200 12.818 4,465 3,600 7,339 15,456 1,345 7,694 3,524 4200 12,818 4,465 3.600 18,264 4,596 3,132 203,424 75,395 278,819 258,838 7 Staff costs The monthly averdge number of persons (including senior rnanagement / leadership team) employed by the charity during the year expressed as full time equivalents was as follows: 2024 2023 Total Staff 20 22 No employee received emoluments of more thaD £60,000 during the year. Page 17
Age Concern Reading known as Age UK Reading Notes to the Financial Statements for the Year Ended 31 March 2024 8 Taxation The charity is a registed chatity and is therefore exempt from Lwtion. 9 Fixed asset investments 2024 2023 Sh&Tes in group undertakings and participating interests Shares in group undertaktngs and participating interests Subsidiary undertakings Total Cost At I ApTiI 2023 At 31 March 2024 Iyet book value At 31 March 2024 At 31 March 2023 Detsils of undertakings Details of the investments in which the charity holds 20Q/o or more of the nominal value of any class of share capital are as folloivs- Country of incoryoration Proportion of voting rights Princlpal and shares held activlty Undertaking Holding 2024 2023 Subsidiary undertaking5 Age UK Reading Trading Limited Ordinary shares England Donnant Page 18
Age Concern Reading known as Age UK Reading Notes to the Financial Statements for the Year Ended 31 March 2024 10 Debtors 2024 2023 . Trade deblois Prepayments ArKn)ed income 3,567 1,612 10,336 322 1,298 4,997 15,515 6,617 11 Cash and cash equivalents 2024 2023 Cash on hand Cash at bank 172 116.023 190 94.904 116.195 95,094 12 Creditors: amounts falling due within one year 2024 2023 Trade ¢reditors Other tsxation and social security Other Creditors Ac¢rua]s 283 5239 18,374 3,600 1,511 2,583 18,291 3,672 27,496 26.057 Page 19
Age Concern Reading knoTrvn as Age UK Reading Notes to the Financial Statements for the Year Ended 31 March 2024 13 Funds Balance At I April 2023 Incoming resources Resources expended Balance at 31 Marth 2024 Unrestricted funds General General fimd 43,589 253,444 (203.424) 93,609 Restrlcted funds Community and Voluntary Groups (CEV) Awards For All Restart John Sykes Foundation Sky Community Trust Reading Rotary Community Tilehurst Parish Council 2023 The Headley Trnst Mccarthy Stone RBC Reading Small Grants Fund Age UK Winter Warmth TilehuTSt Parish Council 2024 Age UK Cost of Living Total restrlcted funds 9,066 10,000 3.000 (9,066) { i 0.000) (2.000) (1,000) (2,000) (1,000) (1,000) (5,000) (3,330) 1.000 1,000 2,000 1,000 1,000 5,000 6,936 5.(K)O 1.000 3,606 5,000 (1.000) 1,000 10.000 29,999 (39,999) 32,066 53,935 (75,395) 10,606 Total funds 75,655 307.379 (278.819) 104,215 Pagc 20
Age Concern Reading known as Age UK Reading Notes to the Financial Statements for the Year Ended 31 March 2024 Balance at 31 March 2023 Balance at I April 2022 Ineomillg resources Resources expended Transfers Unrestricted funds General General fund 69,235 162.613 {209,437} 21.178 43,589 Designated Designated fimd 21.178 (21,178) Total unrestricted funds 90,413 162.613 (209,437) 43.589 Restricted Community and Voluntary Groups (CEV) AwaTds For All Restart Age UK Cost of Living Going Mobile Coronation Remembered Age UK MCST Horneshare 19.061 (9.995) 9,066 10,000 3,000 10,000 10,000 4,000 {i.000) i 0,000 4.815 4,344 22.560 (4,815) (4.344) (22.560) {6.687) 6.687 Total restricted funds 29,748 51,719 (49.401) 32,066 Total funds 120,161 214,332 (258,838) 75,655 Page21
Age Concern Reading known as Age UK Reading Notes to the Financial Statements for the Year Ended 31 March 2024 The specific purposes for which the funds are to be applied are as follows: CEV - This Clinically Extremely Vulnerable fund is to provide services to people with dementia. Awards for All - Funding a new approach to creative. active. reslorative social activities for the most vulnerable older people in Reading. Restart - Restarting social club5 in Reading post lockdown. John Sykes - A fund to provide lun¢hes and refreshrnents to a]1 social groups and to subsidise Pantomirne attendees from the social groups. Sky - To fund the active element of social groups, giving participants the opportunity to ty new activities and hopefully get moving more. Rotary - Provide health and safety equipment required to th¢ Happy Feet service. Tilehurst PC 2023 - A fimd to sist with the cost of pmviding Age UK Reading services to clients living in Tilehurst. Headley- To help fund the running of dementia clubs Mccarthy Stone - Funding the set up and Djnning of a new dementia club RBC R¢ading Small Grants Fund - To fund the set up and nmning of an additional dementia club in the Reading area. Winter WaTmth (Age UK) - Providing advice and resources to vu]nerdble people to keep them warn) throughout the cold winter months. Tilehurst PC 2024 - A fimd to assist with the cost of providing Age UK Reading services lo clients living in Tilehurst. Ag¢ UK Cost of Living - To support Age UK Reading to continue providing services helping older people with th¢ rising cost of living. The Designated Funds ivere established in 2016 to develop existing services and identify new service5 to increase the income of Age UK Reading. Whilst we retain the entTepreT]euTial SPiTit and desire to develop, we felt it prudent to reallocate these funds to our main Reserve in 202212023 until the posltion was further recovered. Page 22
Age Concern Reading known as Age UK Reading Notes to the Financial Statements for the Year Ended 31 March 2024 14 Analysis of net assets between funds Unrestricted funds Ceueral Total funds at--_ 31 March 2024 Restricted funds Fixed asset investments cllent assets Current liabilities 121.104 (27,496) 10.606 131.710 (27,496 Total net assets 93,609 10,606 104,215 Unrestricted funds General Total fund5 at 31 March 2023 Restricted funds Fixed asset investments Current assets Current liabilities 69,645 (26,057) 32.066 101,711 (26,057) Totsl net assets 43,589 32,066 75,655 15 Related party transactions There were no related paty transactions in the y¢ar. Page 23