2023-03-31-accounts - Age UK Trafford

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Index to the	Financial	Statements	Statements		Page
Legal and administrative			information
Chair's Report
Report ofthe	Trustees
Independent	Auditor's	Report			15
Consolidated	Statement		of Financial	Activities	19
Consolidated	Balance	Sheet			20
Charity Balance Sheet					21
Consolidated	Statement		ofCash Flows		22
Notes to the	consolidated		financial statements		23 —45

rthe year ended 31 March 20	23
				Restricted	Unrestricted
				Funds	Funds	Total	Total
				2023	2023	2023	2022
			Note	8	F	E	8
Income
Income from generated funds: Donations and legacies Other trading activities Investment income					14,459 84,420 3,492	14,459 84,420 3,492	9,896 67,891 1,090
Income from charitable activities			4	111,883	791,440	903,323	782,511
Total income				111,883	893,811	1,005,694	861,388
Expenditure on: Raising funds Charitable activities			7 7	115,934	76,082 799,456	76,082 915,390	67,969 730,635
Total expenditure			7	115,934	875,538	991,472	798,604
Other finance costs					7,000	7,000	7,000
Net income/(expenditure)				(4,051)	11,273	7,222	55,784
Transfers between funds
Other recognised gains and losses
(Loss)/gains on revaluation investments		of	12		(5,274)	(5,274)	27,675
Actuarial loss on defined	benefit
pension scheme			19		(24,000)	(24,000)	(13,000)
Net movement in funds				(4,051)	(18,001)	(22,052)	70,459
Reconciliation offunds
Total funds brought forward 1 April 2022	at		17	4,051	1,838,354	1,842,405	1,771,946
Total funds carried forward		at
31 March 2023			17		1,820,353	1,820,353	1,842,405

						2023		2022
						E		8
				Note
Fixed assets
Tangible assets Intangible assets Investments				11a 11b 12		806,532 6,588 260,231		826,433 9,883 265,505
						1,073,351		1,101,821
Current assets
Debtors				13	133,364		76,801
Cash at bank and	in hand				776,508		875,550
					909,872		952,351
Current liabilities
Creditors: amounts one year	falling		due within	14	(162,870)		(211,767)
Net current assets						747,002		740,584
Net assets excluding liability			pension			1,820,353		1,842,405
Pension scheme liability				19
Net assets including liability			pension			1,820,353		1,842,405
Income funds Restricted funds				17				4,051
Unrestricted funds. Designated funds Other charitable funds Non-charitable trading		funds				1,201,144 618,224 985		1,231,958 605,401 995
						1,820,353		1,842,405
Defined benefit	pension		scheme
liability
						1,820,353		1,842,405

					2023		2022
			Note		6
Fixed assets
Tangible assets Intangible assets Investment			11a 11b 12		806,532 6,588 260,233		826,433 9,883 265,507
					1,073,353		1,101,823
Current assets
Debtors			13	133,364		76,850
Cash at bank and	in hand			775,523		874,506
				908,887		951,356
Current liabilities
Creditors: amounts	falling	due within
one year			14	(162,870)		(211,767)
Net current assets					746,017		739,589
Net assets excluding		pension			1,819,370		1,841,412
liability
Pension scheme liability			19
Net assets including liability		pension			1,819,370		1,841,412
Funds			17
Restricted funds							4,051
Unrestricted funds:
Designated funds Other charitable funds					1,201,144 618,226		1,231,958 605,403
					1,819,370		1,841,412
Defined benefit	pension	scheme
liability
					1,819,370		1,841,412

orthe year ended 31 Marc	h 2023
					2023	2022
						5
Cash flows from operating	activities:
Net (expenditure)/income					(22,052)	70,459
Adjusted for: Depreciation and amortisation					26,817	42,615
Loss on disposal oftangible fixed			assets		10,415
Loss/(gain) on investments					5,274	(27,675)
Defined benefit pension	scheme					(11,000)
Investment income					(3,492)	(1,090)
(Increase) in trade and other receivables					(56,563)	(7,496)
(Decrease)/increase in	trade	and		other	(48,897)	64,785
payables
Net cash inflow from operating activities					(88,498)	130,588
Cash flows from investing	activities
Purchase offixed assets					(14,036)	(16,935)
Interest received					3,492	1,090
Cash outflows from investing activities					(10,544)	(15,845)
Net (decrease)/increase	in cash		&	cash	(88,042)	114,753
equivalents
Opening cash &cash equivalents					875,550	760,797
Closing cash &cash equivalents					776,508	675,550
					($8,042)	114,753
Cash and cash equivalents	consist		of:
Cash at bank and in hand					776,508	875,550

			Restricted	Unrestricted	Total	Total
			funds	fundsf	2023 f	2022f
	Donations			14,459	14,459	8,896
	Legacies					1,000
				14,459	14,459	9,896
3.	INCOME FROM INVESTMENTS
			Restricted	Unrestricted	Total	Total
			fundsf	fundsf	2023 F	2022f
	Bank interest			3,450	3,450	1,079
	Dividend	income		42	42	11
				3,492	3,492	1,090

		Restricted	Unrestricted	Total	Total
		fundsf	fundsf	2023	2022f
Grants
Trafford ICB:
Day Support MDT training			55,055	55,055	52,992 1,000
Trafford Council:
Day Support Falls Prevention			16,142 80,170	16,142 80,170	15,540 59,440
Home Library			27,500	27,500	27,500
Tap Funding Gazebo			12,000	12,000	12,000 1,024
Get Connected			14,921	14,921	28,405
Household Support Fund Winter Resilience		12,000	18,500	12,000 18,500	5,000 18,500
Volunteer recruitment			16,005	16,005	3,518
Hub funding Other (incl Covid based) Healthy Lifestyles			63,327 13,000	63,327 13,000	38,993 21,838 19,160
Trafford Council / Trafford	ICB
(joint funded): Dementia Adviser Project Skills for Care			116,000 18,340	116,000 18,340	116,000 13,654
South Trafford Primary Network Social Prescribing	Care		37,307	37,307	62,733
Trafford West Primary	Care
Network Social Prescribing			37,563	37,563	36,192
Central Primary Care Network
Social Prescribing			9,546	9,546
Age UK Warm Homes			21,842	21,842	17,298
Big Knit Walking Football MOST funding Private Payers Day Support Ambition forAgeing		2,352 9,634 10,758	190,671	2,352 9,634 10,758 190,671	3,628 141,246 2,000
Age UK Salford Nutrition Hydration DWP Kickstart	8		5,546	5,546	5,400 22,708
Trafford Collective Partner
Payment			6,000	6,000	6,500
Community Transport Association		11,309		11,309
Trafford Housing Trust: Mental Health funding		50,830		50,830
Winter Support Other income		15,000	29,773	15,000 29,773	39,076
Other Covid based funding			2,232	2,232	11,166
		111,883	791,440	903,323	782,511

he profit	and loss account for t	he year ended 31 March 20	23 isas follows:
			2023	2022
			E	8
Turnover			2
Operating	costs		(12)	(49)
Retained	loss in the subsidiary	for the year	(10)	(49)

The assets	and l	iabili	ties	Age UK Trafford (Trading) Limit	ed at 31 March 2023 were	:
					2023	2022
					E	8
Current assets					985	1,044
Creditors:	amounts		falling	due within one year		(49)
Total net assets					985	995
Aggregate	share of		capital	and reserves	985	995
GOVERNANCE		COSTS
					2023	2022
						E
Staff costs					7,172	5,206
Legal and Office and	professional fees communication costs				14,665 1,010	12,162 1,185
					22,847	18,553

		lO0u	lO0	a0u	a D c c c a~ l5 Q Cl C
		c Cl C 0	lOc lO E	Cl C	a w cf a '0 C0 CO	2023 Total	2022 Total
Costs of
generating
funds
Fundraising	2,040		158	997		3,195	954
Charity shops	44,718	205	20,195	6,843	913	72,874	66,966
Commercial
operation					13	13	49
	46758	205	20 353	7840	926	76,082	67969
Charitable
activities
Enabling older people	684,007	2,193	54,515	147,561	4,267	892,543	712,082
Governance
costs	7,172		138	872	14,665	22 847	18,553
	691,179	2 193	54,653	148433	18932	915390	730,635
Total
expenditure	737,937	2,398	75006	156,273	19858	991472	798604

Total expe	nditure ofth	e charity and the subsidi	ary includes:
				2023	2022
				6
Auditor's	remuneration	—audit and accounting	fees	11,640	9,000
Auditor's	remuneration	—other non audit fees			420
Depreciation and amortisation Operating leases				26,817 15,968	42,615 20,872

				2023f	2022f
Salaries and wages Social security costs Pension contributions				630,866 46,952 47,575	508,029 34,285 40,517
Funding actuarial deficit				30,924	30,924
				756,317	613,755
Adjustment from movement valuation	in defined	benefit pension scheme		(31,000)	(31,000)
				725,317	582,755
The average weekly number	ofemployees		during the year was:	Number	Number
Management and administration Retail operations Enabling older people				2 3 22	2 3 18
				27	23

								Consolidation	Consolidation
2023				Charity	Company			adjustments	Total
				funds		funds		2023	2023
				8			E
Income			1,005,692						1,005,694
Expenditure			(991,460)				(12)		(991,472)
Net income/(expenditure)				14,232			(10)		14,222
Loss on	investment			(5,274)					(5,274)
Other finance costs				(7,000)					(7,000)
Actuarial	loss			(24,000)					(24,000)
Retained	resources	for the year		(22,042)			(10)		(22,052)
urther details ofthe		results ofthe trading		subsidiary	are	set	out in	note 5.
here were no other		differences	in the movements		in funds between			the Charity	and the group.
								Consolidation
2022				Charity	Company			adjustments	Total
				funds 6		funds 8		2022 F	2022f
Income				861,388					861,388
Expenditure			(798,555)				(49)		(798,604)
Net income				62,833			(49)		62,784
Gain on	investment			27,675					27,675
Other finance costs				(7,000)					(7,000)
Actuarial	loss			(13,000)					(13,000)
Retained	resources	for the year		70,508			(49)		70,459

Group and Charit	y
		Long			Leased
		leasehold	Motor	Fixtures &	building
		buildings 8	vehicles 6	equipment 8	alterations 8	Total F
Cost
At 1 April 2022 Additions		940,494 10,000	67,852	60,331 4,036	12,204	1,080,881 14,036
Disposals		(11,952)		(1,493)		(13,445)
At 31 March 2023		938,542	67,852	62,874	12,204	1,081,472
Depreciation At 1 April 2022 Charge for year Disposals		119,612 18,613 (1,537)	64,428 3,424	58,204 1,485 (1,493)	12,204 -	254,448 23,522 (3,030)
At 31 March 2023		136,688	67,852	58,196	12,204	274,940
Net book amount	at 31
March 2023		801,854		4,678		806,532
Net book amount	at 31
March 2022		820,882	3,424	2,127		826,433

NTANGIBLE FIXEDASSETS Group and Charity
	Software
	6
Cost
At 1 April 2022	23,366
Additions
At 31 March 2023	23,366
Amortisation
At 1 April 2022	13,483
Charge for year	3,295
At 31 March 2023	16,778
Net book amount at 31 March 2023	6,588
Net book amount at 31 March 2022	9,883

FIXEDASSE	T INVESTME	NTS
The group						2023 Total	2022 Total
						6
Market value at 1 April 2022 (Loss)/gain on investment						265,505 (5,274)	237,830 27,675
Market value at 31 March		2023				260,231	265,505
The Charity
As above						260,231	265,505
Investment	in subsidiary	company (see below)				2	2
						260,233	265,507
							Reserves
			Class of		Proportion		31 March
Name			shares	held	held		2023
							E
Age UK Traiford (Trading)		Limited	Ordinary		100%		985

			The Group		The Charity
			2023	2022	2023	2022
			F		6	6
Other debtors			3,575	3,575	3,575	3,575
Amounts	owed	by Age UK Trafford				49
(Trading) Limited Prepayments and accrued income			129,789	73,226	129,789	73,226
			133,364	76,801	133,364	76,850

			The	Group	The Charity
			2023f	2022f	2023 f	2022 f
Accruals			122,841	89,462	122,841	89,462
Deferred	income	(see below)	40,029	122,305	40,029	122,305
			162,870	211,767	162,870	211,767
DEFERRED INCOME —GROUP AND CHARITY
					2023	2022
Balance	at 1 April	2022			122,305	76,420
Amount	released	to income			(122,305)	(76,420)
Amount	deferred	in the year			40,029	122,305
Balance	at 31 March 2023				40,029	122,305

assets	measured at amortised cost:
		The	Group	The	Charity
		2023f	2022f	2023	2022f
Included	within debtors and cash at
bank and	in hand	906,297	945,344	905,312	944,349

liabiliti	es mea	sured at amortise	d cost:
			The	Group		The	Charity
			2023 F		2022f	2023f		2022f
Included	within	creditors	121,741		89,427	121,741		89,427

GROUP
						Balance at	Income	Expenditure	Balance at
						31 March	incl	incl DBS/	31 March
						2022	gain/lossf	transfers F	2023 F
Restricted
Household Support Fund Walking Football						4,051	12,000 9,634	(16,051) (9,634)
Big Knit							2,352	(2,352)
MCST funding							10,758	(10,758)
THT Mental	Health						50,830	(50,830)
THT Winter	Support						15,000	(15,000)
Community	Transport		Association				11,309	(11,309
						4,051	111,883	(115,934)
Unrestricted
Designated	funds:
Project development continuity			and services			352,226	284,615	(285,717)	351,124
Fixed asset	fund					836,316		(23,196)	813,120
Sharpies building		fund				43,416	25,145	(31,661)	36,900
						1,231,958	309,760	(340,574)	1,201,144
Other charitable funds						605,401	578,775	(565,952)	618,224
						1,837,359	888,535	(906,526)	1,819,368
Non-charitable trading				funds		995		(12)	985
						1,838,354	888,537	(906,538)	1,820,353
Total funds	before	defined			benefit
pension liability						1,842,405	1,000,420	(1,022,472)	1,820,353
Defined benefit pension				liability
Total funds						1,842,405	1,000,420	(1,022,472)	1,820,353

ofnet assets between funds
2023	Unrestricted	Restdicted	2023
	funds	funds	Total
	E	8	F
The group Tangible fixed assets Intangible fixed assets Investments	806,532 6,588 260,231		806,532 6,588 260,231
Net current assets	747,002		747,002
Pension liability
	1,820,353		1,820,353
The Charity Tangible fixed assets Intangible fixed assets Investments	806,532 6,588 260,233		806,532 6,588 260,233
Net current assets	746,017		746,017
Pension liability
	1,819,370		1,819,370
2022	Unrestricted	Restricted	2022
	funds	funds	Total
			Z
The group Tangible fixed assets Intangible fixed assets Investments	826,433 9,883 265,505		826,433 9,883 265,505
Net current assets	736,533	4,051	740,584
Pension liability
	1,838,354	4,051	1,842,405
The Charity Tangible fixed assets Intangible fixed assets Investments	826,433 9,883 265,507		826,433 9,883 265,507
Net current assets	735,538	4,051	739,589
Pension liability
	1,837,361	4,051	1,841,412

					31 March		31 March	31 March	31 March	31 March		31 March	31 March
Assumptions as at					2023			2022		2021			2020
Rate ofincrease to pensions in payment members who leR service before 6/4/97			for		3.25%			3.6%		3.1%			3.0%
Discount rate for scheme	liabilities				4.85%			2.8%		2.1%			2.2%
Inflation (RPI) assumption					3.25%			3.6%		31%			2.8%
he mortality assumptions	for the disclosures			at	31 March 2023were:
31 March 2023		31 March	2022		31	March		2021		31	March		2020
100%ofS3PMA base	95%	of S3P	base		95% of	S3P		base	S3P	base			tables
tables for males and	tables projected			by	tables projected			by	projected		by	year of
100% of S3PFA M	year	of birth assuming			year of birth		assuming		birth	assuming			future
base tables for females projected by year of birth assuming future improvements in line with CMI 2021	future improvement in line with CMI 2021 core projections with a long-term rate of improvement of 1.0%				future improvement in line with CMI 2020 core projections with a long-term rate of improvement of 1.0%				improvement in line with CMI 2019 core projections with a long- term rate of improvement of 1.0%
projections (with	pa.				pa.				pa.
parameters Sk = 7.0,
A = 025% and
w2020/w2021 =10%)
and a long-term rate
of improvement of
1.25%pa.
The assumed life retirement at age 65 are:	expectancies		on	31 March 2023			31 March 2022		31 March 2021			31 March 2020
Retiring today - males Retiring today - females Retiring in 20 years - males Retiring in 20 years - females					86.8 88.8 88.1 90.2			87.1 89.5 88.1 90.6		87.1 89.4 88.1 90.6			86.7 89.0 87.7 90.2

2023	2022
E'000	E'000

Administration	expenses
Total operating	charge recognised		in Statement of Financial
Activities
Analysis ofthe	amounts	credited	i(charged) to other comprehensive		income
				2023		2022
Taken to other comprehensive income				E'000		E'000
Actual return on pension		scheme	assets	(322)
Less: amounts	included	in net interest on the
net defined benefit liability				(37)		(29)
Remeasurement	gains	and losses
recognised in income	other comprehensive			(359)		40

nalysis osses	of the	amou	nts includ	ed with	in the statem	ent of total recogni	sed gains
						2023	2022
						E'000	E'000
Actual	return	less	expected	return	on
pension	scheme	assets				(359)	40
Experience gains and scheme liabilities			(losses) arising on		the	310	39
Change	in effect	ofasset ceiling				25	(92)
Actuarial	loss					(24)	(13)

Changes in the fair value of pla	n as	sets are analysed as follow	s:
			2023	2022
			E'000	E'000
Assets in scheme at start ofyear			1,451	1,403
Movement in year: Interest income on scheme assets			37	29
Actuarial (loss)/gain on scheme assets Contributions by company			(359) 31	40 31
Benefits paid			(56)	(45)
Administration costs			(7)	(7)
Assets in scheme at end ofyear			1,097	1,451
Changes in the present value ofthe		defined benefit obligations	are analysed	as follows:
			2023	2022
			F000	K'000
Liabilities in scheme at start ofyear			1,359	1,414
Movement in year: Interest cost			37	29
Experience (gains)/losses	on	scheme	(310)	(39)
liabilities
Benefits paid			(56)	(45)
Liabilities in scheme at end ofyear			1,030	1,359
Movement in deficit during the	year
			2022	2022
			6'000	K'000
Deficit in scheme at start ofyear
Movement in year:
Current service cost etc			(7)	(7)
Contributions			31	31
Actuarial (loss)/gain			(49)	79
Change in effect ofasset ceiling			(25)	(92)
Deficit in scheme at end ofyear

. PRIOR YEAR CONSO	LID	ATED STATEMIE	NT OF FINANCIAL	ACTIVITIES
			Restricted	Unrestricted
			Funds 2022 f	Funds 2022 f	Total 2022f
Income
Income from generated funds Donations and legacies Other trading activities Investment income				9,896 67,891 1,090	9,896 67,891 1,090
Income from charitable activities			63,495	719,016	782,511
Total income			63,495	797,893	861,388
Expenditure on: Raising funds Charitable activities			59,444	67,969 671,191	67,969 730,635
Total expenditure			59,444	739,160	798,604
Other finance costs				7,000	7,000
Net income			4,051	51,733	55,784
Transfers between funds
Other recognised gains	and	losses
Gains on revaluation of investments				27,675	27,675
Actuarial (loss) on defined scheme	benefit pension			(13,000)	(13,000)
Net movement in funds			4,051	66,408	70,459
Reconciliation offunds
Total funds brought forward 1April 2021		at		1,771,946	1,771,946
Total funds carried forward		at 31 March
2022			4,051	1,838,354	1,842,405