Ending older people’s loneliness
Age UK Sheffield Annual report 2021/22
www.ageuk.org.uk/sheffield
AGE UK SHEFFIELD
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## Contents
|Contents||
|---|---|
|Reference and administrative details of the Charity, its trustees and advisers|3|
|Chair’s statement|4|
|Trustees’ report|5|
|Objectives and activities|6|
|Achievements and performance|10|
|Free independent information and advice|12|
|Independent Living Co‑ordination (ILC)|13|
|Dementia services|15|
|In Touch|16|
|At Home with Age UK Sheffeld|17|
|Weston Park Cancer Charity|18|
|Retail|19|
|Hillsborough Park|19|
|Financial review|20|
|Structure, governance and management|24|
|Independent auditors’ report to the members of Age UK Sheffeld|27|
|Consolidated statement of fnancial activities|30|
|Consolidated balance sheet|31|
|Charity statement of fnancial position|32|
|Consolidated statement of cash fows|33|
|Notes to the fnancial statements|34 ‑ 47|
## Reference and administrative details of the Charity, its trustees and advisers
For the year ended 31 March 2022
Mr David Campbell, Chair
Trustees
Ms Emma Challans (resigned 2 September 2022) Mr Graham Duncan (resigned 19 October 2021) Ms Sarah Fulton Tindall Mr Tim Furness
Mr Stephen Naylor (appointed 4 November 2021) Ms Melanie Perkins
Ms Naomi Sampson
Mr Nigel Smith (resigned 9 December 2021) Mr Liton Ullah (resigned 9 December 2021) Ms Lisa Whitworth (appointed 4 November 2021)
Mr Nick Hutton MBE
President
Vice-Presidents Mr Graham Moore MBE & Mrs Ruth Wilson
Company registered number 05207254
Charity registered number 1108413
Registered office
First Floor, South Yorkshire Fire & Rescue, 197 Eyre Street, Sheffield, South Yorkshire, S1 3FG
Mr Stephen Chufungleung, Chief Executive and Company Secretary Ms Teresa Barker, Chief Operating Officer
Senior management team
Shorts, Chartered Accountants, Cedar House, 63 Napier Street, Sheffield, South Yorkshire, S11 8HA
Independent auditors
Barclays Bank plc, Sheffield, South Yorkshire, S1 2HN
Bankers
Knights plc, Commercial House, 14 Commercial Street, Sheffield, South Yorkshire, S1 2AT
Solicitors
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## Chair’s statement
## The chairman presents his statement for the year.
The year from April 2021 to March 2022 was a truly exceptional one for our charity. Like many charities, we were still responding to the increased needs, and increased complexity of needs, arising from the Covid pandemic. In parallel, we were also moving into a recovery and “new normal” phase, attempting to re‑establish our trading activities (our paid‑for services and charity shops).
As a charity, Age UK Sheffield has weathered the storm of the pandemic well. Our services continue to evidence high levels of impact and public benefit for older people in Sheffield. Financially, we remain in a healthy position to face the new headwinds resulting from the energy crisis.
Importantly, we successfully re‑tendered for the dementia services we operate which are commissioned by Sheffield City Council, expanding the remit of the Specialist Dementia Advice Service and extending our Dementia Wellbeing Centre from one site to three.
Our long‑term ambitions to complete a £1 million National Lottery Heritage Funded project to develop a derelict, listed building as a public café, and two neighbouring premises as activity spaces, came to fruition. We now finally have use of buildings in which to deliver an exciting range of activities, and a new income stream from the café.
The cost of living crisis will have a huge impact on thousands of older people in Sheffield this winter. Now, more than ever, it is vital for Age UK Sheffield to be a strong and effective charity to meet the ever‑growing needs. As always, we thank our passionate and compassionate staff and volunteer team for their tremendous, ongoing work supporting older people to live independently in our city.
“ As a charity, Age UK Sheffield has weathered the storm of the pandemic well. Our services continue to evidence high levels of impact and public benefit for older people in Sheffield.
David Campbell Chair
3rd November 2022
## Trustees’ report
## The Trustees present their annual report together with the audited financial statements of the Age UK Sheffield for the year 1 April 2021 to 31 March 2022.
The Annual Report serves the purposes of both a Trustees’ report and a directors’ report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company’s governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the group and the Charity qualify as small under section 383 of the Companies Act 2006, the Group Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors’ Report) Regulations 2013 has been omitted.
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## Objectives and activities
## Charity objectives and activities
Age UK Sheffield’s articles of association list the charity’s objects as “to promote…the benefit of the public and/or older people” within Sheffield and the surrounding area. By “older people” we mean that we primarily support people aged 50 and over, with two‑thirds of our beneficiaries being aged 70 or over.
Our vision is:
“For a city in which no older person lives in poverty or loneliness.”
Our mission in pursuing that vision is helping older people to: “Live better lives in the best health possible.”
## The main activities we are involved in to further our charitable objects are in providing:
Free and impartial information and advice services, which are independently accredited. Increasing benefit income is the greatest customer need in this service and takes hundreds of people out of poverty every year.
Volunteer befriending support to reduce ongoing loneliness.
A home support service meeting individual added support needs.
Independent living co‑ordination services, helping people to live well at home and reduce demand on the local health and social care system. This holistic support addresses poverty through benefits checks, and loneliness through onward referrals, as part of a wider package of support.
Local activities, where resources are available to meet community needs.
Supporting voice and representation initiatives for older people.
Dedicated dementia services, supporting older people and organisations.
## Public benefit statement
As charity Trustees, we confirm we have regard to the Charity Commission’s public benefit guidance, which we fulfil through the activities we deliver in pursuit of our objectives. We aim to provide benefits and minimise harm to older people in Sheffield, and our services and activities are open and accessible to all.
## Charity aims
We aim to deliver our objectives and activities through a holistic, person‑centred approach, supporting older people to achieve their needs and wants, and empowering them to maintain their independence. We may do this by enabling people to increase their financial, physical and mental health and wellbeing, through, for example, increasing benefits claimed, supporting claims for aids and adaptations to the home, and connecting people to local services and resources.
This has benefits for the individual older people we support; their family carers; and the wider community by reducing demand on statutory services.
## How our activities further our legal purpose
All our activities seek to further our charitable aims, whether directly providing services to older people, providing professional support and advice to organisations which work with older people, campaigning and lobbying for policies which promote ageing well, or engaging in income generation activities to increase our resources to deliver charitable services.
## Strategies to achieve our aims and objectives
The last year saw the end of the delivery of our 2018‑21 strategy, which has largely been successfully delivered. Among the key successes in delivering this three‑year strategy were:
- Successfully bidding for grant and contract income to increase the size of our Independent Living Co‑ordinator team, and consequently the number of older people we could support;
- Extending our Wellbeing Centre provision for people living with dementia. We were delighted to be successful in a re‑tendering process for Sheffield City Council contracts for dementia services, expanding our Wellbeing Centre to two additional sites from February 2022. We were also successful in re‑tendering to delivery the Council’s Specialist Dementia Advice Service;
- We successfully delivered our £1m project to redevelop two buildings in Hillsborough Park, through National Lottery Heritage Fund grants totalling £631,200, and £325,000 in other capital grants from six different funders. The Grade II‑listed Coach House building opened as a public café in February 2022. We have sub‑contracted the café operation to The Depot Bakery through our trading subsidiary, to bring in commercial rental income which we will use to support our charitable services. As part of this project, we also refurbished the neighbouring Potting Shed and re‑opening it as the Bradbury Makers’ Shed, in which we will deliver a wide range of creative activities to further our charitable objects.
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• In partnership with four other local Age UK Brand Partners, in September 2021, we established a new, joint‑venture company, CASEwork Services CIC Ltd. This company is now providing us with finance services. We aim to develop this social enterprise to provide a wide range of back office services to other charities throughout the UK, operating on a not‑for‑profit basis and supporting our charity’s ability to focus its efforts on delivering excellent older people’s services.
At the start of the 2018‑21 strategy, we had intended to significantly expand our paid‑for charitable “At Home” service, which provides bespoke support to address identified older people’s day‑to‑day needs such as cleaning, shopping, and transport. This service was significantly affected by the Covid‑19 pandemic and we have refocused our aims for the service to ensure high service quality and a person‑centred service is prioritised over a high volume of activity.
## Criteria for measuring success
By focusing our attention on delivering personalised services, the specific success measures for each person we support are dependent on their individual needs.
At a wider charity level, there are many ways in which we measure the success of our work, including:
- Number of people supported;
- Number of needs they have identified which we supported them to achieve;
- Increased benefit income; and
- Improvements measured through the Outcomes Star for independent living.
Our continuous improvement procedure monitors customer satisfaction with our services, and our Trustees receive quarterly customer compliments and complaints reports. As a learning organisation, we treat all complaints as an opportunity to improve.
We provide quarterly output and outcome reports to project funders and contract commissioners, detailing how we have delivered our services against any grant conditions or performance monitoring requirements. We take huge pride in delivering service quality of the highest standards and hold numerous external and independent assessments of our quality standards:
- Age UK Charity Quality Standard (renewed August 2021)
- Age UK Information and Advice Quality Standard (renewed March 2021)
- The Advice Services Association’s Quality Standard
- ISO9001
- CHAS (Contractors’ Health and Safety Standard)
## Social investment policies
We do not make any social investments.
## Volunteer involvement
## Grant-making policies
We have over 200 registered volunteers supporting a wide range of our charitable activities, including our Dementia Wellbeing Centres and cafes, our “In Touch” befriending programme, helping older people to get online and use the internet safely, and our retail shops. We could not deliver such a wide range of charitable activities without our volunteers and we are extremely grateful to them all.
Through our involvement in the Sheffield City Council People Keeping Well in the Community programme, we lead the partnership for the South‑West Sheffield area. The grant funding we receive from the Council for this initiative requires us to make small, community grants of up to £500, to fund community‑level health and wellbeing activities. Applicant organisations in the designated area apply to us to receive a community grant to fund capital items or ongoing activities, such as table tennis, litter‑picking, and creative writing.
The South‑West Sheffield People Keeping Well partnership makes decisions about which applications they wish to support, and we administer the grant‑making process. These are the only grants we make.
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## Achievements and performance
## Charity achievements and performance
During 2021/22, we provided services to 5,078 people, including taking on 3,295 new cases for people who required our support. We supported those people to increase their income by a total of £2,645,912 in the first year, by claiming the additional benefits they were entitled to.
## 2021/22 customers by age
Age below 50 Age 50 ‑ 59 Age 60 ‑ 69 Age 70 ‑ 79 Age 80 ‑ 89 Age 90+
## 2021/22 customers by health condition
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,
,
,
Mobility /falls Dementia/ memory loss Mental health Arthritis Heart condition Lung/breathing condition Cancer Hearing condition Sight condition Stroke Kidney condition
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## 2021/22 customers by ward
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0 20 40 60 80 100 120 140 160 180 200 220 240 260 280 300
Beauchief and Greenhill
Dore and Totley
Hillsborough
Graves Park
Park and Arbourthorne
Manor Castle
Richmond
Southey
East Ecclesfield
Ecclesall
Fulwood
Stannington
West Ecclesfield
Firth Park
Walkley
Beighton
Crookes and Crosspool
Gleadless Valley
Burngreave
Mosborough
Woodhouse
Birley
Stocksbridge and Upper Don
Darnall
Nether Edge and Sharrow
Shiregreen and Brightside
Broomhill and Sharrow Vale
City
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## Free independent information and advice
This is our largest service by volume, offering anyone aged 50 or over free and impartial advice. The service is independently quality‑accredited through the Age UK Information and Advice Quality Programme.
During 2021/22 we took on 1,780 new cases, addressing a total of 3,671 needs identified. The majority were people living in poverty who needed benefits advice. There was also extensive demand for advice on community care needs, such as support in the home.
Of the customers who disclosed their age, one‑third were aged 70‑79, with another 32 per cent aged 80‑89.
By the end of the year, we calculated that our Information and Advice service had helped older people to claim an additional £1,023,101 in annual benefit income that they weren’t previously claiming but will now receive for the rest of their lives, plus a further £541,395 income in arrears.
“ Your support has been amazing. I never thought I would get to a point where I didn’t have to worry about debts. ”
## Mildred’s story
Mildred (not her real name) was aged 81, living alone in Council accommodation, with multiple heath conditions. She had to strip wash because she could not get in and out of her bath and had difficulty using the steps at the front and back of her home.
We supported Mildred to successfully apply for Attendance Allowance at £89.60 per week (£4,659 per annum), plus £627.20 backdated. Her pension credit was also increased by £67.50 per week (£3,510 per annum), plus £1,030 backdated. We also referred Mildred for a disabled facilities grant to create safe access to a shower and grab rails at the front and back doors.
“ I cannot tell you how nice it is to be able to have a shower without worrying I am going to fall and hurt myself. Your service has really helped me to get my life back. ”
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Photo for illustrative purposes only, and not the actual case study.
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## Independent Living Co-ordination (ILC)
Our ILC service is our flagship service which is targeted at people with multiple long‑term health conditions who are most at risk of unplanned hospital admissions or otherwise losing independence. All ILC customers begin their service a with a 2‑3 hour guided conversation to establish all their needs, including health, financial, social, emotional, and housing support.
During this conversation, our ILC will co‑produce a personalised independence plan with the customer to document their needs and discuss ways in which they can be met. We will discuss options, encouraging and empowering the customer to work on resolving the issues they feel able to, whilst supporting them with tasks such as applying for benefits or liaising with other professionals. We will aim to close most cases within 3‑6 months, depending on whether the needs initially identified have been met. On average, 93‑95% of ILC customer needs are met when their case is closed. Most customers are in a much better position to live independent lives but they are reassured they can contact us again if their situation changes.
Our ILC service is funded through a range of grants and contracts, including from NHS Sheffield Clinical Commissioning Group, individual GP Neighbourhood networks, and our partners at Weston Park Cancer Charity.
“
I didn’t want to come to you for support because I felt too young. I often feel people won’t understand the cultural differences – I’m English but Jamacian at heart. You have helped me in more ways that I could imagine. I push myself to go out every day now, even when I don’t feel like it.
”
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Photo for illustrative purposes only, and not the actual case study.
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## Sheila’s story
Sheila (not her real name) was a 79‑year‑old woman who lived in a large, detached house in the S11 post code area, a generally affluent part of the city. However, after being admitted to hospital after a fall, Sheila could not be discharged because her house did not have a working boiler or central heating (and hadn’t done for five years) and her roof was leaking. She had no money to pay for repairs and her family and friends were not aware of the situation in which she was living. She had been burning paper and plastic bags on an open fire for warmth. To wash, she boiled a kettle in the kitchen and carried it upstairs to pour into the bath. Her electrical sockets were overloaded with fan heaters and buckets collected rainwater from the leaking roof.
We supported Sheila to access a range of grants to fix her roof, obtain a replacement boiler and have Photo for illustrative purposes only, and not the actual case study. aids and adaptations fitted in her home (she had previously had a stroke and falls), and liaised with contractors to get the house repairs carried out. We supported her with day‑to‑day needs when Your support has “ she was discharged to a care home whilst her made all the difference in improvement works were done. We liaised with a the world to me. Having range of services to support her to be independent my first bath in months after returning home, including Sheffield and months was just bliss. Community Transport, personal alarms, assisted I no longer worry about waste collection, and prescription deliveries. We how much it is costing me obtained further grants to pay for a replacement cooker and carpets, and supported Sheila to access to heat my home. Attendance Allowance and increased Pension Credit, improving her income by over £8,000 per ” year.
## Dementia services
This was a landmark year for the expansion of our dementia services:
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Our long‑term In addition, we We also won a Our specialist advice We were awarded Dementia won further new contract to service, Dementia a further grant Wellbeing Centre contracts to open deliver a weekly Advice Sheffield, was to continue in Norfolk Park was new Dementia Young Onset recommissioned our support for awarded a new, Wellbeing Centres (50‑64) Dementia expanded to include Sheffield Dementia five‑year Council in Hillsborough Wellbeing Centre, customers and Action Alliance. contract; Park, and Botanical in addition to our family members, as Gardens; existing Young well as professionals Onset Hub; and volunteers; and
## Ivor’s story
Ivor started attending our Norfolk Park Dementia Wellbeing Centre in March 2021 after being diagnosed with dementia. He is Icelandic and has previously held Clinical Psychologist roles in local hospitals. Ivor’s condition worsened during the Covid pandemic; because he and his wife, Sally, had both had cancer, they shielded at home, and Ivor spent long periods of time looking at this phone or “zoning out” in front of the TV. Ivor had worked in day centres and Sally was concerned he may be distressed or embarrassed about attending one.
Now she says that their lives have changed in just three months. Ivor has “got a big smile back on his face” again and Sally is able to teach Tai Chi every Thursday when Ivor is at the Wellbeing Centre. He loves talking to staff and volunteers about this career and the books he had written on walks around Nether Edge. He is able to walk in Norfolk Park, get involved in silk painting, and has created his personal music playlist, which is on the wall.
Photo for illustrative purposes only, and not the actual case study.
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## In Touch
Our volunteer befriending service has grown since beginning in 2018, and we are now supporting 100 older people. We take care to really understand every In Touch beneficiary, and to match them with volunteers who we believe has similar interests.
Photo for illustrative purposes only, and not the actual case study.
## At Home with Age UK Sheffield
Our paid‑for, not‑for‑profit, help at home service fills a gap in the market with a hugely important offer. To us, it’s not just helping with someone’s cleaning, shopping or transport needs; it’s part of our commitment to keeping them safe and well at home.
## Sylvia’s story
Sylvia (not her real name) was aged 77, registered blind, and living with terminal cancer. She lives with her friend, who is deaf, and they manage by being each other’s senses. We were asked to support Sylvia to manage her correspondence, and found a recent letter related to a previous £20,000 investment in fine wines she had made decades ago. The letter was “invoicing” Sylvia for £1,227 to retrieve cash from invested wines and close her account.
Our At Home worker phoned the company and uncovered an elaborate, but highly believable, scam. With Sylvia’s agreement, we reported the matter to the Police, and supported her to receive professional advice to realise her investment. We also put a call blocker on her phone and referred her to Victim Support.
## Mary’s story
Mary (not her real name) was referred to the Porter Valley in Touch service after working with our ILCs, when they noticed she was socially isolated. She had moved to Sheffield to be closer to her son just before the first lockdown happened, and didn’t know anybody else in the city. Mary suffers with a urinary incontinence that meant she no longer felt confident to leave her home without her son, and would go days without leaving her flat.
Mary admitted herself that her confidence and life has changed significantly since she had started meeting with our volunteer. It has been nearly 6 months and they now attend the local café and
treat themselves to a bacon butty/sandwich once a week, and have more evening walks planned as the summer evenings get longer. This confidence has also led to Mary now going for walks with her neighbour during the week and talking about her main passion which is folk music.
More case studies about a specific part of our In Touch service which focused on the Porter Valley neighbourhood can be viewed at:
https://youtu.be/h5g0V2l6qM8
“ Bev has become my Photo for illustrative purposes only, and not the actual case study. rock in such a short space of time. I trust her because she is so caring about
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my needs.
”
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## Weston Park Cancer Charity
We partner with like‑minded charities to work together to meet our shared objectives. Since 2016, Weston Park Cancer Charity has funded two Independent Living Co‑ordinators to support people living with cancer, and their family members, in Sheffield.
## Bill’s story
87‑year‑old Bill (not his real name) was referred to our Weston Park Cancer Charity service by a hospital social worker after his wife, Jean, died of breast cancer. He was not coping and his only sister could not visit due to Covid restrictions. Jean had done all the practical tasks and Bill didn’t know how to cook or use the washing machine.
Our ILC visited Bill the day after the referral and helped him to contact the Registry Office, a funeral director, and use the Tell Us Once service to notify Government departments. Seeing Jean’s equipment and medication around the house was upsetting Bill so we arranged for it to be taken away. Over the next few weeks, at Bill’s pace, we helped him to contact utility providers, insurance companies and banks to change account names and direct debits. Bill’s mobility was very poor and we arranged for grab rails to be urgently installed.
## Retail
Our first charity shops opened in autumn 2019 as part of our longer‑term strategy to replace lost income from our former insurance business, and to diversify our income sources. In October 2021, we opened our third shop in Broomhill. As well as generating important commercial income, our shops are an important front door to Age UK Sheffield services to an additional customer base.
## Hillsborough Park
After a five‑year development period, our new, Lottery‑funded facilities opened in spring 2022. The Grade II‑listed Coach House, which we rescued from dereliction, is now trading successfully as a public café, operated by the Depot Bakery, and bringing in important commercial income for our charity. We refurbished the neighbouring Potting Shed and reopened it as the Bradbury Makers’ Shed, in which we are delivering an exciting range of creative activities. And we are also managing the nearby Pavilion building, which is one of our additional Dementia Wellbeing Centre sites, and the home of our performing arts and physical activity sessions.
Photo for illustrative purposes only, and not the actual case study.
Bill did not want carers in the house so we supported him to learn to use the microwave and washing machine. We supported him to apply for Attendance Allowance and Council Tax discount, increasing his income by £5,000pa.
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“
I just didn’t know
where to start as Jean
had always sorted
everything out. I would
have been in a right
mess without you.
”
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## Financial review
Our financial outturn for 2021/22 has a bottom line showing a surplus of £139,214. This is an excellent outcome in a highly unusual year, and it is important to break that surplus down to understand that the underlying operating financial performance, which was of a broadly balanced day‑to‑day budget.
## Fundraising activities and income generation
Our main sources of income are contracts and grants to support our Independent Living Co‑ordination work with vulnerable older people. We have continued to experience success in bidding for this work, adding a new GP Neighbourhood (Peak Edge) to our health‑related funders, and starting delivery of a new Scams prevention project in partnership with Age UK. We have also been successful in retaining existing grant and contract funding for Independent Living Co‑ordination work. With over ten different funders of this service, our income sources are diversified, our risks are balanced, and our team continues to grow.
The new dementia contracts we have won through the year significantly increased our provision of dementia Wellbeing Centres and specialist dementia advice. Our paid‑for At Home service achieved its income generation targets. We opened a third charity shop, on Fulwood Road, Broomhill. Our retail shop operation is still in the early stages of development. The shops are profitable overall but currently has reliance on the shop at Twentywell Lane, Bradway, for the majority of its income and profitability.
Our new facilities in Hillsborough Park further add to our income diversity, with rental income from the café operator and then opportunity to earn further income from individuals and groups using our activity spaces. As noted above, our income for the year is higher than in previous years due primarily to the capital grants we received from the National Lottery Heritage Fund for this project.
A complete list of our grant funders can be seen on page 21 of the report.
During 2021/22, we surpassed the income generation targets which were set in the budget, enabling us to deliver a small day‑to‑day operating surplus when we had budgeted for a loss.
## Expenditure overview
The vast majority of our spending continues to be on staff to deliver services to older people.
We work hard to keep our overheads as low as possible, to maximise the impact we can have directly on service delivery.
During the year, we had significant capital expenditure on our new £1 million facilities in Hillsborough Park. These were funded by National Lottery Heritage Fund grants throughout 2021/22, other capital grants which we have received as income in previous years, and funds which have previously been designated by our Trustees to deliver this project.
We also had around £40,000 of capital expenditure to deliver our third charity shop, on Fulwood Road in Broomhill.
## Cash position
As at 31 March 2022 the Charity had a cash balance of £768,886 on a consolidated basis (2021: £1,021,230).
## Fixed assets
Following the completion of our National Lottery Heritage Fund project, we now hold two buildings in Hillsborough Park on 125‑year leases. The improvement costs have been added to our fixed asset register following professional valuations and an assessment of the increase in the value of the buildings through our capital project against the actual capital expenditure.
## Restricted/designated funds
Following the completion of our Lottery project, we only have small amounts of restricted and designated funding in reserves:
- Restricted funding which has been underspent from our People Keeping Well and Sheffield Dementia Action Alliance grants. It is planned that these will be spent within two years.
- Designated funding to support the delivery of our ILC and Information and Advice services. It is planned that these will be spent within two years.
## Significant events
There were no significant events that materially affected our financial position.
## Investment policy
We do not hold any significant investments outside of our group of companies.
During 2021/22, in partnership with four other local Age UK Brand Partners, we established a new social enterprise company, CASEwork Services CIC Ltd to provide back office services to five Age UK charities, and to others. We supported the establishment of this company through the provision of a £15,000 loan. It is intended that this will be repaid within ten years, as the company grows.
## Risk management
Our risk assessment and risk register are reviewed and updated on a quarterly basis and scrutinised by our HR and Governance Group. This review includes a written update on the current position of each risk and a review of the likelihood and impact scores, and any further control measures required. New risks are added and existing risks closed, to ensure the risk assessment remains and live document which informs our strategy development and work programme. The full Board reviews the risk assessment once per year, or individual risks may be escalated to the Board periodically by the HR & Governance Group.
In April 2022, the highest scoring risks on our risk register were as follows:
## Financial risks
A risk relating to income generation activities at our new Hillsborough facilities. Budgeted income for 2022‑23 is based on estimates of how well these facilities will perform, not on past performance. Therefore, it is not known whether these estimates are realistic. Control measures include producing and implementing a plan of income generation for the year and regular monitoring of income.
A general risk relating to income generation from trading activities and fundraising, as it is believed that these budgeted income generation targets for the year are more challenging than in previous years, and will need some dedicated focus to achieve. Control measures relate to having an annual plan and carrying out regular monitoring.
## Operational risks
Risks relating to the fact that we are new operators of facilities in Hillsborough Park, and there are existing users and stakeholders with whom we must work well and co‑operate with. The key risk control measures are
to proactively and positively manage these stakeholder relationships, seeking to resolve issues before they develop, and being open and transparent in communications.
Risks relating to the demand on our Information and Advice and Independent Living Co‑ordination services, due to the level of need from older people in the city. We seek to control these risks by making judgements on the extent to which we promote our services, managing customer expectations, and using priority assessment tools to ensure our limited capacity is targeted to support the people most in need of our services.
## List of financial supporters
We would like to thank everyone who supported the work of Age UK Sheffield during 2021/22, and give particular thanks for the financial support given by:
- Age UK
- Abbeydale Golf Club
- Arthur Lee Trust
- Beauchief Golf Club
- Bernard Sunley Charitable Foundation
- Dore & Totley Golf Club
- HM Burdall Charity
- John Lewis
- Macmillan Cancer Support
- Marjorie Coote Old People’s Charity Fund
- The National Lottery Heritage Fund
- NHS Sheffield Clinical Commissioning Group
- GPA1, Hillsborough, Network North, Peak Edge and Porter Valley GP Neighbourhoods
- Sheffield Area Kidney Association
- Sheffield Church Burgesses Trust
- Sheffield City Council
- Sheffield Hallam University
- Sheffield Town Trust
- Sickleholme Golf Club
- Sky
- South Yorkshire Community Foundation
- The Energy Saving Trust
- The Bradbury Foundation
- The Clothworkers Foundation
- Westfield Health Charitable Trust
- Weston Park Cancer Charity
Individual donors, fundraisers, customers, members and people leaving legacies to Age UK Sheffield.
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AGE UK SHEFFIELD
## Reserves policy
In July 2022, our Board updated the reserves policy to change towards a risk‑based approach which analysed a wide range of capital, buildings‑related, service delivery and staffing risks, and their likelihood of being realised. Based on this assessment, the Trustees set their target range for free reserves at between £350,000 and £500,000.
At 31 March 2022, Age UK Sheffield’s free reserves (unrestricted funds excluding designated reserves) were £986,316, compared to £547,410 in the previous year. The Board is considering a range of options to bring free reserves back within the target range, such as making short‑term investments in supporting service delivery activities, particularly during the current cost of living crisis (partly through having set a deficit budget for 2022/23); and long‑term investments in extending our chain of retail shops. It anticipates that these investments will bring the reserves back within the target range during 2024/25.
## Factors likely to affect future performance
As with all businesses which are trading in the current economic environment, we are constantly assessing the impact of inflation and rising costs on our budgets. At this stage we do not have any significant concerns in this respect.
## Our trading subsidiary
In 2019, the charity invested in our trading subsidiary to fund the capital start‑up costs of our retail operation. This £60,000 initial investment is being repaid over time through the retail gift aid scheme. The following retail gift aid payments have been made to date:
2019/20 ‑ £3,766 2020/21 ‑ £9,220 2021/22 ‑ £63,447
In 2021/22, the charity made a short‑term loan of £120,000 to the trading subsidiary to support the completion of the Coach House Lottery project in Hillsborough Park. This was because the trading subsidiary delivered the redevelopment of the Coach House but some of the capital grants to support the project had been paid to the charity. This loan will be repaid through rental income from the café operator in the coming years.
## Going concern
The Trustees have considered the charity’s ability to fulfil its financial obligations as they fall due over the coming 12‑month period. In undertaking these considerations, Trustees have assessed a wide range of factors, including:
- The current availability of unrestricted and undesignated reserves;
## Plans for future periods
During the year, the Board confirmed a new charity strategy for 2022‑25. This identified the following priorities:
Seeking to end older Seeking to end older Supporting initiatives Continuing to people’s poverty in people’s loneliness to increase the voice increase our Sheffield – through the in Sheffield – by and representation retail, trading, and continued provision developing the activity of older people in fundraising income, of our successful programme at our developing local and diversifying our Information Hillsborough site, and public policy; and funding sources, to and Advice and by seeking to raise expand the availability Independent Living additional funds to of funding to support Co‑ordination services. expand the capacity of charitable activities. our In Touch volunteer befriending service.
In developing this strategy, Trustees considered the outcomes from their previous 2018‑21 Strategy and held a Board development workshop exploring the opportunities and challenges of community fundraising, delivered by Moore Kingston Smith. Specific actions have been identified to deliver the 2022‑25 strategy, including some investment from reserves in understanding why BAME populations are under‑represented in benefitting from our services.
In our Hillsborough facilities, we are delivering a wide range of new creative activities which are targeted at older people, but open to the general public, as well as income generation activities from community and commercial hires. We are also introducing a new membership scheme, through which we are seeking to improve our ability to generate unrestricted, community fundraising income to support an expansion of our volunteer befriending capacity.
- A review of the cash position;
## Pension liabilities
Age UK Sheffield has, for at least 17 years, been part of a national Age UK defined benefit pension scheme. In recent years, only one Age UK Sheffield pensioner has been a beneficiary of this scheme and we have made monthly payments into it.
Following a review by the Trustees of the national scheme, we are in discussions over our continued involvement in it. Should it be mutually agreed that we leave the scheme, there may be a financial liability for the charity. This has been calculated as part of the review of our reserves policy this year, and provision has been made in the calculation of our target reserves range.
- Future planned income sources, the diversity of these sources, and the risks attached to each income source;
- Planned expenditure against this income; and
• The risk assessment used to inform our updated reserves policy, including unforeseen spending commitments such as building maintenance and dilapidations, the financial impact of a further pandemic, cost of living increases, and our ongoing discussions with the administrators of the Age UK defined benefit pension scheme.
Having given due consideration to all these issues, Trustees have made a positive going concern assessment of our ability to continue trading throughout at least the next 12 months.
Further details regarding the adoption of the going concern basis can be found in the Accounting Policies section of the financial statements.
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AGE UK SHEFFIELD
## Structure, governance and management
In recent years it has been common practice for one or two Trustees to resign from the Board and one or two new Trustees to join the Board. In 2021/22, Graham Duncan, Nigel Smith and Liton Ullah resigned from the Board at the end of their three‑year terms. Steve Naylor and Lisa Whitworth joined as new Trustees.
## Constitution
Age UK Sheffield is a charity and registered company limited by guarantee, which is governed by a board of Trustees. Having formerly been an unincorporated charity since its registration in January 1981, the Charity transferred its assets to a ‘new’ charity, number 1108413 on 31 March 2005.
Trustees are always recruited through an open process using a role description and person specification. Typically, Trustee vacancies are advertised in the summer every year, with a recruitment and selection process taking place in September and October. New Trustees are proposed to the November Board meeting, which they attend as observers, before appointments are made at the December Annual General Meeting.
In 2021/22, the full Board met in full six times and held a strategic planning day. Our Finance and HR & Governance Groups have a scrutiny function and some delegated authority, and met quarterly in advance of full Board meetings. Due to the unique circumstances of the Covid pandemic, all these Trustee meetings were held online.
Age UK Sheffield Enterprises Limited is a company wholly owned by Age UK Sheffield which is governed by a Board of Non‑Executive Directors comprising up to three charity Trustees and up to two independent Directors, one of whom, Nick Ethelstone, chairs the Board. This trading arm engages in trading activity and makes donations to the Charity through the retail and corporate Gift Aid processes.
Trustees receive a handbook which includes the Articles of Association, Code of Governance, and key policies and procedures including the Declaration of Interests policy. Trustees complete an induction which includes meetings with senior managers and shadowing of key frontline services.
During 2021/22, the Board reviewed its training needs and decided to incorporate a full Board development workshop as part of its annual strategic planning day. This was delivered by Moore Kingston Smith, who presented and facilitated a workshop to assess the Board’s appetite for expanding our work to develop community fundraising.
Since the Charity and the Group qualifies as small under section 383 of the Companies Act 2006, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Directors’ Report) Regulations 2013 is not required.
In 2021/22 the HR & Governance Group approved a new Trustee appraisal process which is being used for the first time in 2022/23 to inform ongoing Board development needs.
## How we make decisions
A Scheme of Delegation is appended to the Charity’s Code of Governance, which describes the decisions which are reserved for the full Board, decisions that are delegated to sub‑groups, and those which are delegated to the Chief Executive and Senior Management Team.
## Senior management remuneration
The remuneration of all staff, including senior managers, is considered annually by the full Board. Proposals are considered at the September Board meeting and the pay award takes effect from 1st October. The senior managers are the Chief Executive and the Chief Operating Officer.
The Finance and HR & Governance Groups typically meet one or two weeks before full Board meetings to undertake a scrutiny function on behalf of the Board. They may make recommendations to the Board or specify issues which require full Board discussion.
## Trustee recruitment, induction and training
The Board actively manages its composition to provide both stability and fresh ideas and thinking. Trustees are recruited for a three‑year term and may serve up to three terms.
## The Age UK network
Age UK Sheffield is a local, independent charity. Our charitable objects are focused around providing services to older people in Sheffield and our Trustees are from Sheffield and the surrounding area. We are part of the federated Age UK network of charities, through which we have a Brand Partner Agreement with the national charity, Age UK. This gives all Brand Partners, including Age UK Sheffield, rights and obligations to work together for the benefit of older people in our shared network.
Part of our commitment to being an Age UK Brand Partner is to uphold excellent quality standards in the running of our charity and our service delivery to older people. We meet the Age UK Charity Quality Standard, which measures our effectiveness in 13 categories, including governance, finance, safeguarding, and health and safety, renewing our certificate during 2021/22.
We also hold the Age UK Information and Advice Quality Standard, which provides evidence of independence, impartiality, and service quality in the provision of information and advice services. Our most recent inspection came during a 2021/22 Covid‑19 lockdown. The covering e‑mail which accompanied the report said:
## “
I am pleased to say you have fully demonstrated that you have met all the benchmarks, and successfully completed the Age UK I&A Quality Programme. It is clear from the report there are many strengths identified in your service, and that the service is very well organised and managed. The team show commitment and dedication to their customers, colleagues and to Age UK Sheffield. The mystery shopping showed that a very high level of customer service was reported and the Quality of Advice Assessment showed advice of a consistently high standard was being delivered. This is a fantastic achievement at any time, but you are to be commended for going through your assessment whilst adapting the service to respond so well to the pandemic. The assessor was particularly impressed by the organisation’s commitment to a customer centred approach, which was impressive and authentic, with the customer firmly at the centre.
## Related parties
Up to three Trustees sit on the Board of our wholly‑owned trading subsidiary, Age UK Sheffield Enterprises. The current Trustees on that Board are David Campbell and Tim Furness. Both make relevant declarations of interest at respective Board meetings.
Age UK Sheffield also owns a 20% stake in CASEwork Services CIC Ltd, which was established in September 2021. The joint venture company was established in partnership with four other local Age UK Brand Partners, to provide finance and other back office services to the owning charities as part of a cost‑sharing group, and commercially to other charities and social enterprises.
Our Trustee, Sarah Fulton Tindall, and Chief Executive, Steve Chu, are also Directors of CASEwork. Since November 2021, Steve Chu has also held the role of Chief Executive of CASEwork on a part‑time secondment, initially on an interim basis and substantively since April 2022.
We work with a wide range of other charities in the pursuit of our charitable objectives. We are members of the Age England Association and attend regional meetings with other Age UK Brand Partners. We also regularly work with other charities in Sheffield and are represented on the city’s Voluntary Sector Leaders’ Forum.
## Trustees’ indemnities
The Trustees, as directors of the charitable company, have been granted a qualifying third party indemnity provision under section 234 of the Companies Act 2006. This does not provide cover in the event of a director being proved to have acted fraudulently or dishonestly.
## ”
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## Statement of Trustees’ responsibilities
The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Group and the Charity and of their incoming resources and application of resources, including their income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Group and the Charity’s transactions and disclose with reasonable accuracy at any time the financial position of the Group and the Charity 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 Group and the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## Disclosure of information to auditors
Each of the persons who are Trustees at the time when this Trustees’ Report is approved has confirmed that:
• so far as that Trustee is aware, there is no relevant audit information of which the charitable group’s auditors are unaware, and
- that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charitable group’s auditors are aware of that information.
## Auditors
The auditors, Shorts, have indicated their intention to resign. The designated Trustees will propose a motion appointing new auditors at a meeting of the Trustees.
Approved by order of the members of the board of Trustees on 3 November 2022 and signed on their behalf by:
Mr David Campbell Chair of Trustees
## Independent auditors’ report to the members of Age UK Sheffield
## Opinion
## Conclusions relating to going concern
We have audited the financial statements of Age UK Sheffield (the ‘parent charitable company’) and its subsidiaries (the ‘group’) for the year ended 31 March 2022 which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, the Charity Balance Sheet, the Consolidated Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).
In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group’s or the parent charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
## In our opinion the financial statements:
- give a true and fair view of the state of the Group’s and of the parent charitable company’s affairs as at 31 March 2022 and of the Group’s incoming resources and application of resources, including its income and expenditure for the year then ended;
## Other information
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors’ Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011.
## Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors’ responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
We have nothing to report in this regard.
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## Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Trustees’ Report for the financial year for which the financial statements are prepared is consistent with the financial statements.
- the Trustees’ Report has been prepared in accordance with applicable legal requirements.
## Matters on which we are required to report by exception
In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Report.
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:
- the parent charitable company has not kept adequate and sufficient accounting records, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent charitable company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of Trustees’ remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the Trustees’ Report and from the requirement to prepare a Strategic Report.
## Responsibilities of trustees
As explained more fully in the Trustees’ Responsibilities Statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the Group’s and the parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.
## Auditors’ responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors’ Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non‑compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non‑compliance with laws and regulations, was as follows:
- the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non‑compliance with applicable laws and regulations;
- through discussions with the Trustees and other management and from our commercial knowledge and experience of the sectors that the Group operates in, we identified the laws and regulations applicable to the Group; and
- focusing on the specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the Group, we assessed the extent of compliance with those laws and regulations identified above through making enquiries of management and inspecting relevant correspondence.
We assessed the susceptibility of the Group’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
- considering the internal controls in place to mitigate risks of fraud and non‑compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- considered journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
- investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non‑compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation;
- reading the minutes of those charged with governance;
- enquiring of management as to actual and potential litigation and claims;
- considering relationships with HMRC and other relevant regulators; and
- reviewing legal and professional expenditure for evidence of litigation
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non‑compliance. Auditing standards also limit the audit procedures required to identify non‑compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/ auditorsresponsibilities. This description forms part of our Auditors’ Report.
## Use of our report
This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable company’s trustees, as a body, Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an Auditors’ Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.
## Howard Freeman BSc FCA (Senior Statutory Auditor)
for and on behalf of
## Shorts
Chartered Accountants Statutory Auditor 63 Napier Street Sheffield South Yorkshire S11 8HA
Date: 3 November 2022
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AGE UK SHEFFIELD
## Consolidated statement of financial activities
(incorporating income and expenditure account)
## Consolidated balance sheet
As at 31 March 2022
For the year ended 31 March 2022
|Unrestricted
funds
Restricted
funds
Coach House
(restricted)
Note
2022
£
2022
£
2022
£
Income and
endowments from:
Donations and legacies
4
404,082
98,083
716,053
Charitable activities
5
775,597
299,055
-
Investments
6
79
-
-
Other income
7
1,200
-
-
Total income and endowments
1,180,958
397,138
716,053
Expenditure on:
Raising funds
7,000
-
-
Charitable activities
8
1,151,100
422,893
580,942
Total expenditure
1,158,100
422,893
580,942
Net income / (expenditure)
22,858
(25,755)
135,111
Transfers between funds
17
272,819
(5,043)
(267,776)
Net movement in funds before other
recognised gains
295,677
(30,798)
(132,665)
Other recognised gains:
Actuarial gains on defned beneft
pension schemes
7,000
-
-
Net movement in funds
302,677
(30,798)
(132,665)
Reconciliation of funds:
Total funds brought forward
786,098
60,641
132,665
Net movement in funds
302,677
(30,798)
(132,665)
Total funds carried forward
1,088,775
29,843
-
he Consolidated statement of fnancial activities includes all gains and losses recognised in the year.
he notes on pages 34 to 47 form part of these fnancial statements.|Total
funds
2022
£
1,218,218
1,074,652
79
1,200
2,294,149
7,000
2,154,935
2,161,935
132,214
-
132,214
7,000
139,214
979,404
139,214
1,118,618|Total
funds
2021
£
785,594
970,061
546
7,910
1,764,111
4,000
1,419,598
1,423,598
340,513
‑
340,513
4,000
344,513
634,891
344,513
979,404|
|---|---|---|
The Consolidated statement of financial activities includes all gains and losses recognised in the year. The notes on pages 34 to 47 form part of these financial statements.
Further details on the results for the year can be found in the Financial review section of the Trustees’ Report on page 20.
|Note
Fixed assets
Tangible assets
13
Current assets
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due
within one year
16
Net current assets
Total assets less current liabilities
Defned beneft pension scheme
asset / liability
22
Total net assets
Charity funds
Coach House (restricted)
17
Restricted funds
17
Unrestricted funds
Designated funds
17
General funds
17
Revaluation reserve
Total unrestricted funds
17
Total funds|£
424,765
768,886
1,193,651
(473,885)
102,459
986,316
-|2022
£
398,852
719,766
1,118,618
-
1,118,618
-
29,843
1,088,775
1,118,618|£
160,633
1,021,230
1,181,863
(248,114)
240,688
547,410
(2,000)|2021
£
47,655
933,749
981,404
(2,000)
979,404
132,665
60,641
786,098
979,404|
|---|---|---|---|---|
The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the entity to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
However, an audit is required in accordance with section 151 of the Charities Act 2011.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees on 03 November 2022 and signed on their behalf by:
Mr David Campbell, (Chair of Trustees)
The notes on pages 34 to 47 form part of these financial statements.
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AGE UK SHEFFIELD
## Charity statement of financial position
As at 31 March 2022
|Note
Fixed assets
Tangible assets
13
Investments
14
Current assets
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due
within one year
16
Net current assets
Total assets less current liabilities
Defned beneft pension
scheme liability
22
Total net assets
Charity funds
Restricted funds
17
Unrestricted funds
Designated funds
17
General funds
17
Total unrestricted funds
17
Total funds|£
606,311
609,004
1,215,315
(396,840)
-
914,477|2022
£
126,063
60,002
186,065
818,475
1,004,540
-
1,004,540
90,063
914,477
1,004,540|£
162,278
962,082
1,124,360
(215,158)
191,719
598,438|2021
£
3,594
60,002
63,596
909,202
972,798
(2,000)
970,798
180,641
790,157
970,798|
|---|---|---|---|---|
## Consolidated statement of cash flows
For the year ended 31 March 2022
|Cash fows from operating activities
Net cash (used in) / provided by operating activities
Cash fows from investing activities
Dividends, interests and rents from investments
Purchase of tangible fxed assets
Net cash used in investing activities
Cash fows from fnancing activities
Net cash provided by fnancing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year|2022
£|2021
£
393,969
546
(32,628)
(32,082)
‑
361,887
659,343
1,021,230|
|---|---|---|
||654,097
79
(906,520)
(906,441)
-
(252,344)
1,021,230
768,886||
||||
The notes on pages 34 to 47 form part of these financial statements.
Included in restricted funds is £nil (2021: £132,665) related to the Coach House project. See note 17 for more information.
The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the entity to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
However, an audit is required in accordance with section 151 of the Charities Act 2011.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees on 03 November 2022 and signed on their behalf by:
Mr David Campbell, (Chair of Trustees)
The notes on pages 34 to 47 form part of these financial statements.
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AGE UK SHEFFIELD
## Notes to the financial statements
For the year ended 31 March 2022
## 1. General information
The legacies entitlement is taken as the earlier of the date on which either: the Charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the Charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the Charity, or the Charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.
The Charity is a private company limited by guarantee, established by constitution on 13 January 1981 in England and Wales. The members of the Charity are the Trustees named on page 1. 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 address of the registered office is 1st Floor, South Yorkshire Fire & Rescue, 197 Eyre Street, Sheffield, South Yorkshire, S1 3FG and its registered number is 05207254. The nature of the Charity’s operations and principal activities are included in the trustees’ annual report.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
## 2. Accounting policies
## 2.1 Basis of preparation of financial statements
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) ‑ 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) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
## 2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Age UK Sheffield meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The Consolidated Statement of Financial Activities (SOFA) and Consolidated Balance Sheet consolidate the financial statements of the Charity and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis.
The Charity has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Financial Activities in these financial statements.
Support costs are those costs incurred directly in support of expenditure on the objects of the Charity and include project management carried out at Headquarters. Governance costs are those incurred in connection with the administration of the Charity and compliance with constitutional and statutory requirements.
## 2.2 Basis of consolidation
The financial statements consolidate the accounts of Age UK Sheffield and all of its subsidiary undertaking (‘subsidiaries’).
Charitable activities and governance costs are costs incurred on the Charity’s operations, including support costs and costs relating to the governance of the Charity appointed to charitable activities.
The results of subsidiaries acquired during the year are included from the effective date of acquisition.
All expenditure is inclusive of irrecoverable VAT.
The Charity has taken advantage of the exemption contained within section 408 of the Companies Act 2006 not to present its own Income and expenditure account.
## 2.5 Government grants
Government grants relating to tangible fixed assets are treated as deferred income and released to the Consolidated Statement of Financial Activities over the expected useful lives of the assets concerned. Other grants are credited to the Consolidated Statement of Financial Activities as the related expenditure is incurred.
The income and expenditure account for the year dealt within the accounts of the Charity was a surplus of £21,091 (2021: a surplus of £301,758).
## 2.3 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
## 2.6 Taxation
The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
## 2.7 Tangible fixed assets and depreciation
A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of the fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of Financial Activities.
Tangible fixed assets are initially recognised at cost, net of depreciation and any provision for impairment.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.
Depreciation is provided on the following bases:
Short-term leasehold property Over remaining term of lease Office equipment 20%‑30%
Computer equipment 33%
## 2.8 Investments
Investments in subsidiaries are valued at cost less provision for impairment.
## 2.9 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## 2.10 Cash at bank and in hand
Cash at bank and 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.
## 2.11 Impairment
Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash‑generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s (or CGU’s) fair value less costs to sell and value in use.
## 2.12 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre‑tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Consolidated Statement of Financial Activities as a finance cost.
## 2.13 Financial instruments
The Group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## 2.14 Operating leases
Rentals paid under operating leases are charged to the Consolidated Statement of Financial Activities on a straight‑line basis over the lease term.
## 2.15 Pensions
The Group operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Group to the fund in respect of the year.
The Group operates a defined benefits pension scheme and the pension charge is based on a full actuarial valuation dated 31 March 2022.
## 2.16 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
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## 3. Critical accounting estimates and areas of judgment
Due to the nature of legacies, it is not always possible to determine the value of the legacy or the likelihood of it being received. In some instances, such legacies can be contested and, as such, the charity will not receive the income. The facts of each case are assessed individually to decide when the legacy should be recognised in line with the Charity’s accounting policy and with SORP FRS 102.
Estimates and judgments 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.
## (ii) Impairment of leasehold improvements
## Critical accounting estimates and assumptions:
In applying the principals of SORP FRS 102 in relation to impairment of assets, management make judgements relating to the fair value of Leasehold improvements at each balance sheet date. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash‑generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s (or CGU’s) fair value less costs to sell and value in use.
The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.
## Critical areas of judgment:
## (i) Recognitions of legacy income
In applying the principals of SORP FRS 102 in relation to legacies, management make judgements relating to when the legacy income is recognised.
## 4. Income from donations and legacies
|Donations and other grants
Legacies
Age UK
Covid related grants
Total 2022
Donations and other grants
Legacies
Age UK
Covid related grants
Total 2021|Unrestricted
funds
2022
£
274,245
3,599
121,858
4,380
404,082
Unrestricted
funds
2021
268,005
68,663
60,399
145,294
542,361|Restricted
funds
2022
£
‑
‑
98,083
‑
98,083
Restricted
funds
2021
£
89,256
‑
21,312
‑
110,568|Coach House
(restricted)
2022
£
716,053
‑
‑
‑
716,053
Coach House
(restricted)
2021
£
132,665
‑
‑
‑
132,665|Total
funds
2022
£
990,298
3,599
219,941
4,380
1,218,218
Total
funds
2021
£
489,926
68,663
81,711
145,294
785,594|
|---|---|---|---|---|
## 5. Income from charitable activities
|Direct
Group Support
Support in the Home
Information and Advocacy
Total 2022
Group Support
Support in the Home
Information and Advocacy
Total 2021
6.
Investment income
Investment income
Investment income|Unrestricted
funds
2022
£
25,012
178,356
481,315
90,914
775,597
Unrestricted
funds
2021
£
117,444
353,118
48,000
518,562|Restricted
funds
2022
£
‑
152,719
146,336
‑
299,055
Restricted
funds
2021
£
157,903
204,212
89,384
451,499
Unrestricted
funds
2022
£
79
Unrestricted
funds
2021
£
546|Total
funds
2022
£
25,012
331,075
627,651
90,914
1,074,652
Total
funds
2021
£
275,347
557,330
137,384
970,061
Total
funds
2022
£
79
Total
funds
2021
£
546|
|---|---|---|---|
## 6. Investment income
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## 7. Other incoming resources
|Reimbursed expenses
Reimbursed expenses|Unrestricted
funds
2022
£
1,200
Coach
House
(restricted)
2021
£
7,910|Total
funds
2022
£
1,200
Total
funds
2021
£
7,910|
|---|---|---|
## 8. Analysis of expenditure on charitable activities
## Summary by fund type
|||Unrestricted|||Restricted||Coach||Total||
|---|---|---|---|---|---|---|---|---|---|---|
|||funds|||funds||House||funds||
||||||||(restricted)||||
|Premises costs||2022
£
62,499|||2022
£
‑||2022
£
6,076||2022
£
68,575||
|Administrative costs||122,816|||114,262||15,763||252,841||
|Staff costs||663,346|||308,631||13,281||985,258||
|Support costs (note 9)||302,439|||‑||‑||302,439||
|Impairment||‑|||‑||545,822||545,822||
||||||||||||
||||||||||||
|||1,151,100|||422,893||580,942||2,154,935||
||||||||||||
||||||||||||
|||Unrestricted|Unrestricted||Restricted||Coach||Total||
|---|---|---|---|---|---|---|---|---|---|---|
|||funds|||funds||House||funds||
||||||||(restricted)||||
|Premises costs
Administrative costs
Staff costs
Support costs (note 9)||2021
£
39,664
73,556
484,046
269,151|||2021
£
7,724
74,890
426,342
34,598||2021
£
‑
7,277
2,350
‑||2021
£
47,388
155,723
912,738
303,749||
||||||||||||
||||||||||||
|||866,417|||543,554||9,627||1,419,598||
||||||||||||
||||||||||||
## 9. Allocation of support costs
|Management & Business Support
Infrastructure
Development
Total
10. Governance costs
Included in support costs are governance costs of £26,055 (2021: £25,688).
11. Auditors’ remuneration
Fees payable to the Charity’s auditor for the audit of the Charity’s annual
accounts
Fees payable to the Charity’s auditor in respect of:
Taxation advisory services|2022
£
220,690
21,641
60,108
302,439
2022
£
11,000
800|2021
£
239,341
24,805
39,603
303,749
2021
£
10,500
750|
|---|---|---|
## 12. Staff costs
Total redundancy and termination payments amount to £nil (2021: £16,896) and related to contracts ending and reorganisation. Included in the creditors at the year end is £nil (2021: £12,206) relating to redundancy / termination payments.
The average number of persons employed by the Group during the year was as follows:
|Th b f ld b th G di th fll|||
|---|---|---|
|e average numer o persons empoye y e roup urng e year was as oows:|2022|2021|
||No.|No.|
|Average number of employees|64|60|
No employee received remuneration amounting to more than £60,000 in either year.
The Trustees neither received nor waived any remuneration during the year (2021: £nil). No Trustees are accruing pension arrangements (2021: £nil). No Trustees were reimbursed expenses in either year.
The total amount of employee benefits received by key management personnel is £105,126 (2021: £104,665). Age UK Sheffield considers its key management personnel to comprise of their Senior Management Team.
|Wages and salaries
Social security costs
Pension costs
Total
The total staff cost and employees’ benefts were as follows:|2022
£
1,053,198
70,230
40,432
1,163,860|2021
£
1,005,247
66,635
34,896
1,106,778|
|---|---|---|
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## 13. Tangible fixed assets
|Group
Cost or valuation
At 1 April 2021
Additions
At 31 March 2022
Depreciation
At 1 April 2021
Charge for the year
Impairment charge
At 31 March 2022
Net book value
At 31 March 2022
At 31 March 2021|Leasehold
improvements
£
28,607
881,501
910,108
123
2,052
545,822
547,997
362,111
28,484|Offce
equipment
£
113,476
5,779
119,255
96,035
7,155
-
103,190
16,065
17,441|Computer
equipment
£
43,709
19,240
62,949
41,979
293
-
42,272
20,677
1,730|Total
£
185,792
906,520
1,092,312
138,137
9,500
545,822
693,459
398,853
47,655|
|---|---|---|---|---|
The impairment charge relates to the completion of the National Lottery Heritage Funded project restoring the Hillsborough Park Coach House. The National Lottery Heritage Fund provides capital funding to restore heritage buildings that would otherwise be permanently lost. Part of their process for calculating the size of their grant is a “conservation deficit” calculation which bears some similarities to the impairment charge calculation. Lottery funding is intended to support capital redevelopment work over and above the likely increase in market value of the relevant properties. For this project, the Lottery grant of £581,500 is comparable to the impairment value of £545,822.
|Charity
Cost or valuation
At 1 April 2021
Additions
At 31 March 2022
Depreciation
At 1 April 2021
Charge for the year
Impairment charge
At 31 March 2022
Net book value
At 31 March 2022
At 31 March 2021|Short-term
leasehold property
£
-
202,315
202,315
-
-
102,315
102,315
100,000
‑|Offce
equipment
£
43,142
5,779
48,921
39,548
2,257
-
41,805
7,116
3,594|Computer
equipment
£
20,387
19,240
39,627
20,387
293
-
20,680
18,947
‑|Total
£
63,529
227,334
290,863
59,935
2,550
102,315
164,800
126,063
3,594|
|---|---|---|---|---|
## 14. Fixed asset investments
|||||||||||||Investments in|Investments in|Investments in|||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||subsidiary companies|||||||
|||Charity||||||||||£|||||
|||Cost or valuation
At 1 April 2021||||||||||60,002|||||
|||At 31 March 2022||||||||||60,002|||||
||||||||||||||||||
||||||||||||||||||
|||Principal subsidiaries|||||||||||||||
|||The following were subsidiary undertakings of the Charity:|||||||||||||||
|||Names|||||Company number|||||Holding|||||
|||Age UK Sheffeld Enterprises Limited|||||02432642|||||100%|||||
|||The fnancial results of the subsidiary for the year were:|||||||||||||||
|||||||||||||£|||||
||Total assets as at 31 March 2022
Total liabilities as at 31 March 2022
Total equity as at 31 March 2022|||||||||||499,388
(523,214)
(23,826)|||||
||Income for the year ended 31 March 2022|||||||||||584,153|||||
||Expenditure for the year ended 31 March 2022|||||||||||(663,925)|||||
||Loss for the year ended 31 March 2022|||||||||||(79,772)|||||
Age UK Sheffield Enterprises Limited is consolidated in the group accounts.
## 15. Debtors
|Due within one year
Trade debtors
Amounts owed by group undertakings
Other debtors
Prepayments and accrued income|Group
2022
£
271,104
-
32,894
120,767
424,765|Group
2021
£
79,734
‑
12,407
68,492
160,633|Charity
2022
£
248,214
248,264
15,000
94,833
606,311|Charity
2021
£
79,331
34,994
‑
47,953
162,278|
|---|---|---|---|---|
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## 16. Creditors: Amounts falling due within one year
|Trade creditors
Amounts owed to group undertakings
Other taxation and social security
Accruals
Deferred income
Other creditors
Dfd i t i dfd f|Group
2022
£
40,409
-
-
91,002
297,314
45,160
473,885
tt fdi id i|Group
2021
£
20,262
‑
17,369
73,548
111,270
25,665
248,114
d d t fd|Charity
2022
£
20,408
-
-
66,724
274,200
35,508
396,840
h diti ill|Charity
2021
£
15,982
2,155
‑
66,463
102,699
27,859
215,158
b t i 2022/23|
|---|---|---|---|---|
Deferred income represents income deferred for contract funding received in advance and grant funding whose conditions will be met in 2022/23.
|Deferred Income
Deferred income at 1 April 2021
Resources deferred during the year
Amounts released from previous years
Deferred income at 31 March 2022
17. Statement of funds|Group
£
111,270
267,618
(81,574)
297,314|Charity
£
102,699
249,743
(78,242)
274,200|
|---|---|---|
## Statement of funds ‑ current year
|Unrestricted funds
Designated funds
Designated funds
General funds
General funds
Pension reserve
Total unrestricted funds
Coach House
Restricted funds
Restricted funds
Total of funds|Balance at
1 April 2021
£
240,688
547,410
(2,000)
545,410
786,098
132,665
60,641
979,404|Income
£
-
1,180,958
-
1,180,958
1,180,958
716,053
397,138
2,294,149|Expenditure
£
(55,341)
(1,097,759)
(5,000)
(1,102,759)
(1,158,100)
(580,942)
(422,893)
(2,161,935)|Transfers
in/(out)
£
(82,888)
355,707
-
355,707
272,819
(267,776)
(5,043)
-|Gains /
(losses)
£
-
-
7,000
7,000
7,000
-
-
7,000|Balance at
31 March 2022
£
102,459
986,316
-
986,316
1,088,775
-
29,843
1,118,618|
|---|---|---|---|---|---|---|
The Designated Funds at 31 March 2022 includes £50,000 (2021: £132,888) in respect of the Coach House, £30,000 (2021: £60,000) in respect of I&A service, £22,459 (2021: £40,000) in respect of BAME community and £nil (2021: £7,800) in respect of Volunteer Co‑ordinator.
During the year a transfer of £82,888 has been made from the designated funds to the general fund. This was to cover the gap between the Coach House building costs and the related grants received as the project was completed at the year end subject to post year end expenditure of £50k which remains in designated funds.
An additional transfer of £267,776 was made from the restricted Coach House fund to general funds. The Coach House funds were fully spent on property improvements during the year and as the assets are not for restricted use, the transfer of funds was made as permitted by the SORP.
## 17. Statement of funds (continued)
Statement of funds ‑ prior year
|Unrestricted funds
Unrestricted funds
Designated funds
General funds
General funds
Pension reserve
Total unrestricted funds
Coach House
Restricted funds
Restricted funds
Total of funds|Balance at
1 April 2020
£
99,055
496,064
(2,000)
593,119
‑
41,772
634,891|Income
£
150,000
911,469
‑
1,061,469
140,575
562,067
1,764,111|Expenditure
£
(8,367)
(858,050)
(4,000)
(870,417)
(9,627)
(543,554)
(1,423,598)|Transfers
in/(out)
£
‑
(2,073)
‑
(2,073)
1,717
356
‑|Gains /
(losses)
£
‑
‑
4,000
4,000
‑
‑
4,000|Balance at
31 March 2021
£
240,688
547,410
(2,000)
786,098
132,665
60,641
979,404|
|---|---|---|---|---|---|---|
## 18. Analysis of net assets between funds
Analysis of net assets between funds ‑ current year
|Tangible fxed assets
Current assets
Creditors due within one year
Total 2022
Unrestricted
funds
2021
Tangible fxed assets
47,655
Current assets
988,557
Creditors due within one year
(248,114)
Provisions for liabilities and charges
(2,000)
Total 2021
786,098
Analysis of net assets between funds ‑ prior year|Unrestricted
funds
2022
£
398,852
1,163,808
(473,885)
1,088,775
Restricted
funds
2021
£
‑
60,641
‑
‑
60,641|Restricted
funds
2022
£
‑
29,843
‑
29,843
Coach House
(restricted)
2021
£
‑
132,665
‑
‑
132,665|Total
funds
2022
£
398,852
1,193,651
(473,885)
1,118,618
Total
funds
2021
£
47,655
1,181,863
(248,114)
(2,000)
979,404|
|---|---|---|---|
## Analysis of net assets between funds ‑ prior year
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## 19. Reconciliation of net movement in funds to net cash flow from operating activities
|Net income/(expenditure) for the year (as per Statement of Financial Activities)
Adjustments for:
Depreciation charges
Interest receivable
Impairment on fxed assets
Decrease in debtors
Increase in creditors
FRS 102 pension liability adjustment
Net cash provided by operating activities
20. Analysis of cash and cash equivalents
Cash in hand|Group
2022
£
132,214
9,500
(79)
545,822
(264,132)
223,772
7,000
654,097
Group
2022
£
768,886|Group
2021
£
340,513
8,423
(546)
‑
(18,147)
59,726
4,000
393,969
Group
2021
£
1,021,230|
|---|---|---|
## 22. Pension commitments (continued)
The current mortality assumptions include sufficient allowance for future improvements in mortality rates. The assumed life expectations on retirement age 65 are given below.
|Mortality rates (in years)
Males ‑ retiring today
Females ‑ retiring today
Males ‑ retiring in 20 years
Females ‑ retiring in 20 years
The Group’s share of the assets in the scheme was:
Equities
Gifts and bonds
Diversifed growth fund
Cash and other liquid assets
Infrastructure
Total market value of assets
|At 31 March 2022
Years
22
25
23
26
Fair value at
31 March 2022
£
43,000
155,000
33,000
3,000
25,000
259,000|At 31 March 2021
Years
22
24
23
26
Fair value at
31 March 2021
£
48,000
165,000
31,000
6,000
‑
250,000|
|---|---|---|
The actual return on scheme assets was £8,000 (2021 ‑ £21,000).
## 21. Analysis of changes in net debt
|Cash at bank and in hand|At 1 April 2021
£
1,021,230|Cash fows
£
(252,344)|At 31 March 2022
£
768,886|
|---|---|---|---|
## 22. Pension commitments
The Group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Group in an independently administered fund. The pension cost charge represents contributions payable by the Group and amounted to £40,432 (2021: £34,896).
The amounts recognised in the Consolidated Statement of Financial Activities are as follows:
|Asset gains / (losses) arising during the year
Liability gains / (losses) arising during the year
Change in the effect of the asset ceiling
Total amount recognised in the consolidated statement of fnancial
Activities|2022
£
3,000
7,000
(17,000)
(7,000)|2021
£
16,000
(20,000)
‑
(4,000)|
|---|---|---|
The Group operates a defined benefit pension scheme.
Principal actuarial assumptions at the Balance Sheet date (expressed as weighted averages):
||||At 31 March 2022|At 31 March 2022|At 31 March 2021||
|---|---|---|---|---|---|---|
|Discount rate
Expected rates of pension increases in payments pre 2006|||%
2.80
3.60||%
2.10
3.10||
|Expected rates of pension increases in payments post 2006
Expected rate of infation ‑ RPI
Expected rate of infation ‑ CPI|||2.50
3.60
2.80||2.50
3.10
2.30||
|44 | ANNUAL REPORT 2021/2022|||||||
ANNUAL REPORT 2021/2022 | 45
AGE UK SHEFFIELD
AGE UK SHEFFIELD
## 22. Pension commitments (continued)
Movements in the present value of the defined benefit obligation were as follows:
|Opening defned beneft obligation
Interest expense on defned beneft obligation
Actuarial losses/(gains) on scheme liabilities
Net benefts paid out
Closing defned beneft obligation|2022
£
252,000
5,000
(7,000)
(8,000)
242,000|2021
£
234,000
5,000
20,000
(7,000)
252,000|
|---|---|---|
Movements in the fair value of the Group’s share of scheme assets were as follows:
|Opening fair value of scheme assets
Interest income on scheme assets
Administration costs
Net benefts paid out
Gain/(loss) on scheme assets
Contributions by the Charity
Closing fair value of scheme assets|2022
£
250,000
5,000
(1,000)
(8,000)
3,000
10,000
259,000|2021
£
232,000
5,000
(1,000)
(7,000)
16,000
5,000
250,000|
|---|---|---|
The Charity expects to contribute £nil to its defined benefit pension scheme in 2022/23.
Amounts for the current and previous year are as follows:
## Defined benefit pension schemes
|Defned beneft obligation
Scheme assets
Surplus / (defcit)
|2022
£
(242,000)
259,000
17,000|2021
£
(252,000)
250,000
(2,000)|
|---|---|---|
## 23. Operating lease commitments
At 31 March 2022 the Group and the Charity had commitments to make future minimum lease payments under non‑cancellable operating leases as follows:
|Not later than 1 year
Later than 1 year and not later than 5 years
Later than 5 years|Group
2022
£
35,645
82,483
1,628,753
1,746,881|Group
2021
£
43,352
47,128
1,500,000
1,590,480|Charity
2022
£
4,770
-
-
4,770|Charity
2021
£
25,602
4,770
‑
30,372|
|---|---|---|---|---|
Included in the operating leases due later than 5 years is a lease entered into on 1 March 2021 in relation to the Coach House. The lease is for a term of 125 years, of which the first 25 years are rent free, followed by 100 years at £15,000 per annum. The Group has invested funds in renovating this property and this will be used in furtherance of its activities. A sub‑lease was signed in March 2022 which rents part of this property to a third party for an annual base rent plus turnover rents.
## 24. Related party transactions
During the year the Group entered into a partnership with CASEwork Services CIC Ltd to provide administrative services to the Group. The Group supported the establishment of the company through a provisional loan of £15,000. The amount of this loan outstanding at the year end is £15,000. It is intended that interest will be charged and the balance will be repaid over a 10 year period as the company grows.
During the year CASEwork Services CIC Ltd charged the Group amounts totalling £14,415 for the provision of financial services. The amounts still outstanding at the year end total £nil.
Our Trustee, Sarah Fulton Tindall, and Chief Executive, Steve Chu, are also Directors of CASEwork. Since November 2021, Steve Chu has also held the role of Chief Executive of CASEwork on a part‑time secondment, initially on an interim basis and substantively since April 2022.
There were no other related party transactions outside of the Group during the current or prior year, nor are there any outstanding balances owing between other related parties outside of the Group at either Balance Sheet date. Group transactions and balances have been eliminated on consolidation.
The asset of £17,000 has not been recognised in the Balance Sheet.
ANNUAL REPORT 2021/2022 | 47
46 | ANNUAL REPORT 2021/2022
t (0114) 250 2850 e enquiries@ageuksheffield.org.uk
Age UK Sheffield, First Floor, South Yorkshire Fire & Rescue, 197 Eyre Street, Sheffield, S1 3FG www.ageuk.org.uk/sheffield