Consolidated Financial Statements For the year ended 31 March 2024 Age UK Trafford Company number: 05384301 Registered Charity number: 1109047 AGE UK TRAFFORD Index to the Financial Statements Page Legal and administrative information Chairfs Report Report of the Trustees Independent Auditor's Report 15 Consolidated Statement of Financial Activities 19 Consolidated Balance Sheet 20 Charity Balance Sheet 21 Consolidated Statement of Cash Flows 22 Notes to the consolidated financial statements 23-45 AGE UK TRAFFORD Le l and admlnlstrative information Reference and Administratlve Infomiation Charity Name.. Charity Registration Number: Company Limited by Guarantee Number.. Registered Office and Operational address.. Age UK Trafford 1109047 05384301 The Sharples Building 1-3 Church Road Urmston M8nchester M419EH Board of Directors at 31 March 2024 Andreas Undemood Nicole Alkemade John Drake Joanne Gibson Barbara Moore lan Peet Danielle Tysall Christopher Martindale Waddleton Chair Elected Elecled Elected Elected Elected Elected Elected Secretary Mrs AM Jones Senior Management Team as at 31 March 2024 Mrs AM Jones Mrs J Wakefield Mrs J Burton Mrs K Glendinning Mr L Turnbull Chief Executive Finance & Personnel Manager Healthy Living Manager Prevention & Wellness Manager Service Development Manager Audltors Harold Sharp, 5 Brooklands Place, Sale M33 3SD Prlncipal bankers RBS, Customer Service Centre, Drummond House. 1 Redheughs Avenue, Edinburgh. EH12 9JN Solicitors Woodcocks Haworth & Nuttall 12114 Manchester Road Bury. BL9 ODX Personnel and Health & Safety Peninsula Business Services Ltd, The Peninsula, 2 Cheetham Hill Road, Manchester M4 4FB AGE UK TRAFFORD Chair's Ro ort Firstly. I would like to thank John Drake as the retiring chair. John has given sterling service over many years in different forms but has now decided to retire to S￿tland. We shall miss him. l am pleased to report a positive year for the majority of services that we offer. More information on these can be found later in this Trustees, Report and in our published Annual Review. One thing in particular which has caught my eye is the work we have done in recruiting new volunteers which are the lifeblood of our organisation. Passion For Lrfe service continues to not be where we want it to be but we hope with Continued focus and effort we will get this sorted. We have talked before about our 3-year strategic plan and I can now share with you that we are in discussion to merge with Age UK Salford. If this happens this would be a very positive step for us both. We are currently putting together a Q&A for staff which we hope will answer any questions or concerns. Our thanks go out to Trafford Metropolitan Borough Council, to Greater Manchester Integrated Care Board and many others who have Gontinued to support us. without their help with funding we could not continue to provide some of our services. I would like to add my personal thanks and those of my fellow Trustees to Ann Marie Jones, our Chief Executive, the Senior Leadership Team, and to all our staff and volunteers working either in Urmston HQ, our charity shop in Ashton on Mersey, or working out in the community. Without their hard work, dedication and willingness. Age UK Trafford would not continue to keep its high reputation in the Trafford Communty. Andreas Underwood Chair of Trustees 17 September 2024 AGE UK TRAFFORD Re rt of the Trustees for tha ar endln 31 March 2024 The trustees are pleased to present theirannual directors. report together with the consolidated financial statements of the charity and its subsidiary for the year ending 31 March 2024 which are also prepared to meet the requirements for a directors, report and accounts for Companies Act purposes. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association. and Accounting and Reporting by Charities: Slatement of Recommended Practice applicable to charities preparing their accounts in accordan￿ wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). Our Pur se & Vision The purpose of the Gharity is.. To promote the relief of older people in any manner, which now or hereafter may be deemed by law to be charitable, in and around Trafford Metropolitan Borough (hereinafter called "the area of benefit°)- The vision that shapes our annual activities is a Trafford where every person over 50 is treated with respect, and an understanding of their needs and aspirations. In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission's guidance on public benefit, including the guidance 'public benefit- running a charity (PB2)'. The charity relies on grants, contracts, fundraising and the income from fees and charges to cover its operating costs. Charging for services is relatively new to us as services have almost always been free at the point of delivery. However, like many charities we are now working in a different environment and charging is now unavoidable. Whilst managing the viabilty of services, affordability and access to our charged for services is important to us. We endeavour to encourage all within our community to take part in our activities and events and where appropriate to engage with our services. Our Values The values held by the charity are: People over 50. and their carers, are at the centre of everyihing we do We are committed to the best possible support for people with dementia and their carers We value and respect our volunteers, supporters and staff We are committed to providing the highest quality of services We are committed to helping combat climate change We are committed to reduce health inequalities We strive to add social value lo everyihing we do We are passionate, open and honest AGE UK TRAFFORD Re ort of the Trustees for the ear endin 31 March 2024 ontinued Our Strat ic Aims The strategic aims employed to achieve the charty's aims and objectives are to.. We will significantly increase awareness of our work to reach out to more local people and to promote the positive contribution people over 50 can make to their community As the leading Trafford provider in dementia care. we will deliver high quality support to improve the lived experience of the person with dementia and their carers We will help people over 50 in Trafford to make informed choices about their health and wellness and the services and support they need We will support people over 50 in Trafford to feel valued and induded in their community We will work in partnership with a range of statutory, third sector and private sector partners to improve the lived experience of people over 50 in Trafford and to share good practice and expertise We will work with a wide range of partners to help reduce health inequalities in Trafford We will support people over 50 in Trafford, who struggle financially. out of poverty We will be part of the fight to address climate change We will be a well organised. financed and resourced organisation that is able to rneasu￿ and demonstrate value for money and quality outcomes for clients, their families, the wider economy We support our stsff and volunteers to develop, care about their wellbeing and strive to be a safe, good and inclusive employer. Public Benefrt We have referred to the guidance contained in the Charty Commission general guidance on public benefit when reviewing our aims, objectives and values and in planning our activities. Our main activities and who benefits are described below. All our charitable activities focus on supporting the older people of Trafford and their carers. and are undertaken to further our charitable purpose for public benefit. Our Activities achievements and erforniance Inforniation & Advice This work covers our Information & Advice Service and includes benefits advice. The number of enquiries increased following Covid 19 and we are now at capacity which has meant that we have had to go to an appointment Sy5tern and a vRiting list. During the year 23124 we had the advantage of a full time outreach v￿rkeT. This post has now ended so we face challenges as the expectation is high. As well as the funding for the outreach worker, a contribution towards the cost of our Information and Advice service in the period was made by Trafford Council and amounted to £12,000. An additional amount of external funding for benefits advice vrfas achieved through the Age UK Warm Homes Programme and amounted to £31,959. We continue to be the only advice agency other than Citizens Advice to hold the nationally recognised Independent Advice Quality Standard in Trafford, which we achieved again in March 2024. For more information on our Information and Advice service please see our published Annual Review. AGE UK TRAFFORD Re rt of tha Trustees for the ar endin 31 March 2024 Contlnued Community SeNlces During the year we continued lo provide the following services- Home Llbrary service to people who are housebound across the Borough, delivering library books on a three weekly rota basis. The service also gives us the opportunity to monitor the needs of some of the most vulnerable of our older population. This service is provided by a combination of volunteers and one paid co-ordinator. Get Connected/Silver Surfer project to help older people get on to the internet and join in online activity. Funding for this ceased in 2023 but we continue to provide a Service on an unfunded basis with volunteers. Communlty Response Hub: from Ihe earliest days of the pandemic, we began to support our local community with information, advice and the provision of food supplies. We then became one of 6 local community response hubs providing food, shopping, medication supplies and information to the community of Urmston, Flixton and Davyhulme, the other 5 hub5 each covering other areas of Trafford. The hubs have continued to run post the pandemic, developing support for the most vulnerable in our community. We continue to be funded for 2023-25 to continue this support. Further support has included maximising income, helping people get digitally connected, and distributing the Household Support fund. Social Actlvltles: Throughout the pandemic we ran an online coffee morning with quizzes and activities for older people called Connect. Post pandemic we continue to provide this online activity as it proved to be popular with those who are unable to get to a venue. We continue to provide our monthly afternoon matlnee and a monthly aftornoon tea with entertainment, In addition. we provide two Walking Football sessions for men and women although funding has now ceased. We continue to provide a Hub Social every Monday. We have also reinstated our °M•n's Room" a social activity group for older men. once a month. For more information on our social activities please see our published Annual Review. Dementia Services Momory Loss Advice Sarvice (MLAS) covers both dementia and mild cognitive impairment (MCI). We have very well attended hub meetings in both Urmston and Hale as well as drop in sessions. In 8ddition, we continue to run a specific MCI group weekly. The service also provides a regular newsletter to 300+ people, a twitter feed, a dedicated telephone support line, regular F8cebook information posts and an MCI What's App group. The service is funded by ICB and Trafford Council and provides 2 dementia advisers, a part-time administration post and a part-time MCI post. We continued to work with GM Dementia United on Dementia and MCI and were a recognised example of excellence in the field of Mild Cognitive Impairment Support. Our Dementia speclfic day support, Passlon for Lrfe," the recovery of this service has been slow following the reduced numbers during the pandemic. It remains a cause for concern although numbers have begun to pick up. The numbers have not reached pre-pandemic levels. The Trustees continue to monitor this closely. Transport can be provided where the carer is unable to source their own provision, and a hot two course meal is provided. Our day support continues to have a 5-star food hygiene rating Sin￿ its first assessment in 2019. For more information on our dementia services see our published Annual Review. AGE UK TRAFFORD Re ort of the Trustees for the ear endin 31 March 2024 ¢ontinued Prevention & Wellbelng This covers our Falls Prevention work, Mental Health Service, winter warmth activities and generic prevention and wellbeing activities as well as our part of the Healthy Lifestylesllnequalities projects funded by Trafford Council. Falls Prevention: we work in partnership with Trafford Council Public Health. Trafford Leisure. In order to progress this work, we employ a falls prevention cMrdinator and are developing a comprehensive falls pathway in Trafford which will prevent falls and redu￿ hospital admissions from falls in the older population. This contract is due to tender later this year for April 2025. inter Wamith campaign: involves us identifying older people at risk of fuel poverty and ill heath through cold. providing support within limited resources and providing a range of materials to both partners and the general public on keeping warm and well in winter. It often includes an electric blanket testing day. We were fortunate in having a reasonably rnild winter, and we were still able lo provide information on both benefits to improve income and act as a distribution agent for Keeping Well in Winter tK)oklets provided by Greater Manchester Combined Authorities as well as bein9 the lead for Warm Rooms initiative in Trafford. Nutrition & Hydratlon: We continued to work viith Public Health and Age UK Salford to provide a nutrition and hydration project in Trafford aimed at reducing malnutrition in older people. The main funding ended for this in 2023 but Trafford Council have given us 8 small amount (£2.000) per annum to continue the holding and distribution of resources in Trafford. Social Prescriblng: This is a commissioned service that supports patients within 3 Primary Care NeMorks, (PCN), across the localities of West, Central and South Trafford. Social Prescribing provides an holistic approach to improving a service user's health and wellbeing. By working together. their needs and priorities are established and they are empowered to make positive choices, which impacts positively and sustainably on lifestyle changes. The service also provides signposting, onward referral and barrier removal to access appropriate services. community groups and organisations. Mental Health & Well-b•lng: this is a service specifically for older people with mental health needs. It particularly supports those who are unable to access talking therapies or who are on a long waiting 1st. We will continue to provide this service through to 2025. Trafford VCFSE Noluntary, Communlty, Falth and Soclal Enterprise) Collective: For a number of years Age UK Trafford has been a key partner in developing the Trafford VCSFE collective as a voice for the third sector at a strategic level. This began by supporting the collective steering group to meet regularly free of charge at our premises, being active member5 of the steering group and the subsequent sub-groups and eventually becoming one of the 4 lead partners with our responsibility for the West of Trafford. As a lead partner we have developed the West Collective by building a regular meeting of local VCFSE partners. statutory representatives. and social prescribers. We have also developed a Good Neighbour scheme. Healthy Lifestyles: the funding for our health bus came to an end in 2023. However. we have been suc￿Ssful in achieving £17,000 in funding for an older people's smoking cessation project and for an additional £7.300 to provide some of the previously funded work such as BP checks. cardia mobile and BMI. For more information on our Prevention, Wellbeing & Healthy Lrfestyles work please see our published Annual Review. AGE UK TRAFFORD Re ort of the Trustees for the ear endin 31 March 2024 contlnued Strateglc Activities During the year we continued to provide the secretariat to the Trafford Dementia Strategy Group (made up of a range of statutory and third sector partners), and to take an active part in the furtherance of the strategy aims and objeGtives. We continued to act as lead partner for the GM Care Partnership, holding the contract with Skills for Care for the distribution of training funds to private and third sector care providers. We maintain this lead role as it is part of our public benefit aims, as it provides an opportunity for a good level of training in care to be provided to care providers resulting in an improvement in the slandard of care for older people in Trafford. This contract has ended in May 2024 after 19 years as Department of Health have decided to provide the workfor￿ Development Fund in a different way going forward. The Chief Executive and Senior Managers also represented the charity on a range of strategic groups including. Living Well in My Community Strategic Design Group, Age Well Board. All Age Mental Health, Trafford VCFSE Collective. Dementia Diagnosis, Domestic Abuse, Safeguarding, as well as 8 number of multi-agency operational groups. In 2023 the Chief Executive continued as one of the Civic Commissioners for Poverty Truth in Trafford. We also continue to work with Manchester University and others on a regular basis to be involved in research projects around the development of future services for older people and. in particular, ijementia related research. In addition, we worked with GM and East Cheshire Clinical Networks to develop a GM wide pathway for patients wilh Mild Cognitive Impairment and to raise awareness of the condition (MCI). We are also involved in the development of GM wide support services around delirium. Our volunteers The charity is very involved in the community and relies on voluntary support in providing our activities. Following the pandemic more than 50% of our volunteers chose not to return having re-thought their lrfe during the pandemic. Thanks to Lottery funding for a volunteer co-ordinator, we are starting to recover these numbers. The co-ordinator also supports the other organisations in the M41 area and recently held a volunteering fayre - where over 20 organisations were present and recruited volunteers. AGE UK TRAFFORD ort of the Trustees for the ear endln 31 March 2024 continued During the year. 72 volunteers continued to work with us in some way: Falls Prevention 5 volunteers support our falls prevention work. Da 13 volunteers supported our Dementia Day Support activities through interaction with service Users providing cognitive slifflulation and driving our vehicles. Memo Loss Advice Service 3 volunteers support our Dementia Advice serviGe with both administration and newsletter design. Charit Retail 17 volunteers provide support to the Retail Team in the operation of Ashton on Mersey shop including till operation and sorting donated goods. Informats'on and Advice 3 volunteers provide information and advice on a wide range of subjects to older people and their carers. Get Connected 1 volunteer supports older people to use a tablet and get online. Home Libra Service 8 volunteers choose and deliver books to older people within the community who are unable to visit a local library. Rece tion and Communit Res nse Hub 9 volunteers support our community hub. front desk reception service, greeting visitors and answering phones. General Hel and Social Activities 1 volunteer helps us with Walking Football 1 volunteer helps with Afternoon Tea 2 volunteers help with the °Men's Room. Activity 4 volunteers help with the Hub Social 1 volunteer helps with Out & About Trips 4 volunteers help with telephone befriending These volunteers conlributed the equivalent of 8 full time equivalent paid staff, a financial impact of £165,000 per annum {calculated at lower wage level but not including any normal staff oncosts). AGE UK TIL4FFORD Ro ort of the Trustees for the ear endin 31 March 2024 contlnued Plans for future eriods During 2023124 the trustees considered the future sustainability of Age UK Trafford in light of the difficulties in securing funding, the increased competition for funding and the need to replace the two key metnbers of staff in 2025, one who has been with the organisation 30 + years and the other 20+ years. Having taken advice. it became clear that the replacement of the exisling Finance Manager would in fact require two posts. operational and strategic, and that in line with a new CEO this cost would be prohibitive to the charity as it v￿S already recognised the support infrastructure was considerably stretched. In light of this, other options were explored and ultimately the trustees identrfied as the best solution a merger. Therefore, it is intended that Age UK Trafford will merge with Age UK Salford in April 2025. This is seen as a positive move for both charities. The proposed merger will enable cost savings on the senior positions and a shared support infrastructure. In addition, the move will safeguard provision of services to older people in both Boroughs. The charities have engaged Stone King solicitors to support the work of the merger, because of their expertise in this area. The first part of the work is the due diligence and this was completed by the end of April. As this was successful, a shadow Board was formed in May and in due course a new CIO will be developed and registered with the Charity Commission. At the end of 2025 financial year both existing charities will transfer all assets and liabilities into the new CIO and become a single charity with one Chief Executive. Apart from this development, our plans are to Continuing our existing activities subject to satisfactory funding arrangements. In addition, the charity will continue to develop additional services where funds allow, in particular to combat loneliness in older people. this funding may be a combination of grants, contracts, fundraising and charging for services. The trustees look to utilise the HQ building to its full potential, including benefitting from our ability to rent space to other organisations. such as the regular use made of rooms by Greater Manchester Mental Health Foundation Trust and community groups. Renting the large ground floor room to reputable organisations in the evening is a new development, so far this means Slimming World have rented it every Monday from April 2024. We will continue to provide online services as part of the pallet of face-to-face serVI￿S we provide, as we have seen the advantage of this for older people who cannot travel to physical venues. Also. we will continue to provide a level of hybrid working. both lo enhance productivty and the work-lrfe balan￿ of staff. but also freeing Spa￿ to allow increased rental income. Financial revi8W Due to the aftereffects of the pandemic. our usual income sources continued to be greatly reduced in 23124 compared to pre-covid. Therefore, the income from charity shop, day care charges and room rental charges was greatly reduced, with slow signs of recovery. The principal funding sources for the charity during the period were income from Trafford Metropolitan Borough Council. GM ICB. Trafford Housing Trust, National Lottery. Other sources of funding during 23124 included Age UK and Skills for Care. Some funds from fundraising and private donations were also achieved. Designated reserves were also used to support the development of projects and services and the maintenance of our premises. £83,945 was spent in generating funds, through the charity shops and other events during the year. The charity spent £988,299 on its charitable objectives. induding £28.954 on governance costs. Full details are given in note 7 to the accounts. AGE UK TRAFFORD ort of the Trustees for the ear endin 31 March 2024 continued Investment owers and oli Aside from retaining a prudent amount in reserves, what unrestricted funds are avallable for investment are invested within the charty's general investment policy to aim for the highest return but with the maximum security to ils funds. In 2018 the trustees reviewed their investment policy, a new Investment Committee was formed from within the trustee Board, and alternative investment fund accounts were identified to utilise the best returns on capital. These fund accounts V￿re opened in 2019 and have remained in place. Unrestricted funds still available for investment will continue to be invested as described above. The charity's largest investment remains its premises purchased in 2013. Reserves olic In establishing its reserves policy and in identifying the continued future of the ¢h8rity as a going concern, the Board takes account of the following information- its corporate risk assessment. its business continuity plan; its budgets. its investments; its contracts, grants and charging policies. and its level of reserves. With this in mind the Board has examined the charity's requirements in light of the main risks to the organisation. It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be an amount of £491 k. This decision takes account of the anticipated assignment of the outstanding lease and the allocation of redundancy payments within existing contract arrangements. The equivalent actual figure at 31 March 2024 is £582k. The Board may feel that it is prudent to hold an increased amount where there is uncertainty in the future funding of services provided by the organisation. Goin concern The trustees. view on the going concern position is as detailed in note 1 (page 23) and in the Trustees. Report section on future plans on page 9. Desi nated funds The trustees continue to follow their strategy for the future progress of the organisation by designating funds to enable maintenance of the Information and Advice service and the development of new projects and services. Designated funds going forward will also allow for the running costs and depreciation of the Sharples Building. A total of £1,195,208 (2022 - £1,231,958) has been designated for this purpose. 10 AGE UK TRAFFORD Re ort of the Truste85 for the ear endln 31 March 2024 continued Structure overnan¢e and mana emènl The Charit Age UK Trafford is a registered charity No. 1109047 and a company limited by guarantee No. 5384301. The governing document of the charity is its Company Memorandum and Articles, adopted in April 2005 and amended in April 2011 and the change to its objects clause approved by the Charity Commission was passed by resolution and confirmed in 2019. The management of the charity is delegated by the AGM to the Board of Trustees, who are also the Directors of the company. They are responsible for the strategic direction of the charity and they meet bi-monthly, The day-ttFday operational running of the Charity is delegated to the Chief Executive who is a paid member of staff. The Board of Trustees for the financial year 2023124 were: Posltion Namo Chair of Trustees Andreas Underwood Elected Members Nicole Alkemade Danielle Tysall John Drake Joanne Gibson (appointed 2 October 2023) lan Peet Appointed (2 October 2023) Barbara Moore (appointed 2 October 2023) Christopher Waddleton Treasurer Representative Members Cllr Kevin Proctor Cllr Jane Slater Trafford Council Trafford Council ointment of trust¢os The Board of Directors (with the exception of representative and any co-opted members) are also the charity trustees for the purposes of charity law and the Directors of the Company. Under the terms of the Memorandum and Articles, the members of the Board are elected to serve for a period of three years after which they must be re-elected at the next Annual General Meeting. New Board members complete an application form and supply references, following this they are interviewed by the Chair and Chief Executive. All Board members are required to sign a code of conduct. The charity by its nature focuses its work exclusively on the 50+ age group, and their carers, in the Borough of Trafford. The Board seeks to ensure that the needs of this group are appropriately reflected through the membership of the trustee body. Trustee skills during the year covered the areas of personnel, health, social care, law and business. The charity seeks its twstees by advertising in the media, with voluntary sector infrastructure organisations and by direct approach to individuals and appropriate businesses. The Board fills vacancies in accordance with the Memorandum and Articles and procedures agreed by the Board. AGE UK TRAFFORD Re ort of the Trustees for the ear •ndin 31 March 2024 contlnued Trustee induction and tralnin A Trustee Induction pack, which includes access to Charity Commission guidance, the governing document and all the policies and procedures used within the charity, was developed and is issued to all trustees. New trustees follow this procedure including visiting a selection of our service sites. Training for trustees was reviewed in 2022 and from 2023 onwards trustees are required to complete three online courses: Risk Assessment, Data Protection and Safeguarding. Additional courses may be added. Trustees who have already recently completed courses in these fields in the course of their own work will be able to use their existing certificates to cover this requirement. anisation Age UK Trafford has a Board of Directors of up to 10 members who meet bi-monthly and are responsible for the strategic direction and policy of the charity. During the period the Board had 10 members from a variety of professional backgrounds relevant to the work of the charty. 8 were elected members and 2 representative members from the local authority. The representatives take part in 811 discussions but hold no voting rights. The Chief Executive also sits on the Board and acts as Company Secretsry but has no voting rights. Age UK (national charity) has observer status when appropriate. The day-to4ay responsibility for the provision of services is delegated to the Chief Executive, who in turn delegates responsibility for certain aspects of service delivery to the senior service managers. The Chief Executive is responsible for ensuring that the charity delivers its specified services and that objectives listed in the Strategic Plan are met. The service managers have responsibility for the day-tO- day operational management of their sections and individual supervision of staff teams including ensuring the teams continue to develop their skills in line with good practice. In addition, Age UK Trafford, whilst remaining an independent charity, is 8 brand partner of Age UK. Related arti•s and CO•0 eration with other or anisations Age UK Trafford is a brand partner of Age UK and maintains its quality standards. We achieved our organisational quality standard again in 2023. In addition, we work closely in partnership with a range of private sector providers in the GM Care Partnership. We also work closely with a range of VCFSE partners including those involved in Healthy Lrfestyies projects and those who work as Community Response Hubs. We sulKontract to Trafford Leisure for part of our Falls Prevention work. Pa olic for sonlor staff The board of directors. who are the Charity's trustees, the Chief Executive and the Finance & Personnel Manager, comprise the key management personnel of the charity in charge of directing and Controlling, running and operating the charity on a day-to-day basis. All directors give of their time freely and no director received remuneration in the year. Details of directors. expenses and related party transactions are disclosed in note 9 to the accounts. The pay of all staff is set in accordance with pay scales determlned by the negotiating body 'The National Joint Council (NJC) for Local Government Services,. The NJC is made up of representatives from local government employers and trade unions. In 2019 a sub- committee of the Board Carried out a senior staff job evaluation and salaries were reevaluated. This took the CEO post off the NJC scale but retained the same inflationary increases applied to 811 other staff annually. 12 AGE UK TRAFFORD Re rt of the Trust•os for the ear endin 31 March 2024 contlnued Risk mana ement The trustees have a risk managemenl strategy which comprises: an annual review of the principal risks and uncertainties that the charty and its subsidiary Age UK Trafford Trading Ltd face. the establishment of policies, systems and procedures to mitigate those risks identified in the annual review. and the implementation of procedures designed to minimise or manage any potential impact on the charity should those risks materialise. The risk assessment is a standing agenda item at Board meetings. This work has identified that financial sustainability is the major financial risk for the charity. A key element in the management of financial risk is a regular review of availsble liquid funds to settle debts as they fall due, regular liaison with the bank. and active management of trade debtors and creditors balances to ensure sufficient working capital by the charity and its subsidiary company. Attention has also been focussed on non-financial risks arising from fire, health and safety of staff and service users, performing rights and food hygiene. These risks are managed by ensuring accreditation is up to date, having robust policies and procedures in place, and regular 8wareness training for staff working in these operational areas. Trustees review those services that are a risk - in 2023124 the largest risk identified is the continued sustainability of the Day Care service and this is being closely monitored. roach to fundralsin In the period Age UK Trafford has the following approach to fundraising: we comply with recognised standards and are registered with the Fundraising Regulator we do not use or V￿rk with any professional or commercial fundraisers we do not maintain any database for the purpose of fundraising nor do we cold call or larget any specrfic individuals for general fundraising the only direct fundraising the charity carried out in the year was a number of small raffles which were conducted within the terms of its li￿nce issued by Trafford Borough Council whilst we welcome donations for our work, and we may from time to time invite these donations, we do not make more than one approach to the same person and we would not accept a donation from anyone we considered to be vulnerable or who displays any lack of capacity lo make those decisions in the year, other than the sale of raffle tickets described above, no member of staff (or volunteer) was engaged in activities to fundraise directly from individuals 13 AGE UK TRAFFORD Ro ort of the Trustees for the ear endin 31 March 2024 continued Trustee Res onsibilities in relatlon to the flnanclal statements The charity trustees (who are also the directors of the charity for the purposes of company law) are responsible for preparing a trustees, annual report and financial statemeT)ts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the group and of the income and expenditure of the charitable group for that period. In preparing the financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently. observe the methods and principles in the Charities SORP,. make judgements and estimates that are reasonable and prudent. state whether applicable UK accounting stsndards have been followed, subject to any material departures disclosed and explained in the financial ststements., prepare the financial ststements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and the group and hence taking reasonable sleps for the prevention and detection of fraud and other irregularities. The Irustees are responsible for the rna1ntenan￿ and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Statement as to disclosure to our audftors In so far as the truslees are aware at the time of approving our trustees, annual report: there is no relevant information, being information needed by the auditor in connection with preparing their report, of which the group's auditor is unaware, and the trustees, having made enquiries of fellow directors and the auditor that they ought to have individually taken, have each tsken all steps that helshe is obliged to take as a director in order to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. By order of the board of Irustees Andreas Underwood (Chair) 17 September 2024 14 AGE UK TRAFFORD Independent Audltor's report to the members of Age UK Trafford Opinion We have audited the financial statements of Age UK Trafford (the 'parent charity.) and its subsidiary (the 'group') for the year ended 31 March 2024 which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, the Charity Balance Sheet, the Consolidated Statement of Cash Flows and notes to the consolidated financial statements, 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 FRS 102 °The Financial Reporting Standard applicable in the UK and Republic of Ireland. (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements: give a true and fair view of the state of the group's and of the parent charity's affairs as at 31 March 2024 and of the group's income and expenditure for the year then ended. have been properly prepared in accordance with Un5ted Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requirements of the Companies Act 2006. 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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard and we have fulfilled our other elhical 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. Concluslons relating to golng concern - emphasis of matter We draw attention to note 1 to the financial ststements which explains that, as a result of the upcoming merger, the trustees have prepared the financial statements on a basis other than going concern. Our opinion is not modified in this respect, Other information The Irustees are responsible for the other information. The other information comprises the information included in the Report of the Trustees, other than the financial statements and our auditor's report thereon. 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. 15 AGE UK TRAFFORD Independent Auditor's report to the members of Age UK Trafford (continued) In connection with our audit of the financial statements. our responsibility is to read the other information and. in doing so. consider whether the Other infonnation is materially inconsistent with the financial statemenls or our knowledge obtained in 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 there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have perfomied. we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Oplnlons 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 Report of the Trustees which includes the Directors, Report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements. and the Dire¢tors' Report included within the Report of the Trustees has been prepared in accordance with applicable legal requirements. Matters on whlch we are roqUIr￿ to report by exceptlon In light of the knowledge and understanding of the group and the parent charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors. Report included within the Report of the Trustees. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you rf. in our opinion- adequate and proper accounting records have not been kept. or returns adequate for our audit have not been received from branches not visited by us". or the parent charity financial statements are not in agreement with the accounting records and returns,, or certain disclosures of Trustees, remuneration specific by law are not made. or we have not received all the information and explanations we require for our audit. the Trustees were not entitled to take advantage of the sm811 companies, exemption from the requirement to prepare a Strategic Report. Responslbllltles of Trustees As explained more fully in the Trustees. responsibilities statement set out on page 17, the Trustees (who are also the directors of the parent charity for the purposes of company law) are responsible for the preparation of the financial ststements 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 charty'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 charity or to cease operations, or have no realistic alternative but to do so. 16 AGE UK TRAFFORD Independent Auditorfs report to the members of Age UK Trafford (continued) Auditorfs responslblllties for the audlt of the financlal 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 auditor's 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. Misststements 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 to other comprehensive income 2024 2023 Taken to other comprehenslve income £'ooo £'ooo Actual return on pension scheme assets Less: amounts included in net interest on the net defined benefit liability 25 (322) (49) (37) Remeasurement gains and losses recognised in other comprehensive income (24) 40 Analysis of the amounts Included within the statement of total recognis•d galns and losses 2024 £'ooo 2023 £'ooo Actual return less expected return on pension scheme assets Experience gains and (losses) arising on the scheme liabilities Change in effect of assel ceiling (24) (359) (8) 310 25 Actuarial loss (26) (24) 43 AGE UK TRAFFORD NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 March 2024 19. RETIREMENT BENEFITS continu Changes in the fair value of plan assets are analysed as follows: 2024 £'ooo 2023 £'ooo Assets in scheme at start of year Movement in year.. Interest income on scheme assets Actuarial (loss)Igain on scheme assets Contributions by company Benefits paid Administration costs 1,097 1.451 49 (24) 31 (49) {5) 37 (359) 31 (56) {7) Assels in scheme at end of year 1.099 1.1)97 Changes in the presant value of the defined beneflt obligations are analysad as follows: 2024 £'ooo 2023 £'ooo Liabilities in scheme at start of year Movement in year.. Interest cost Experience {gains)Ilosses on scheme liabilities Benefits paid 1,030 1,359 49 37 (310) (49) (56) Liabilities in scheme at end of year 1.038 1,030 Movement in deficit during the year 2024 £'ooo 2023 £'ooo Deficit in scheme at start of year Movement in year.. Current service cost etc Contributions Actuarial (loss)Igain Change in effect of asset ceiling {5) 31 (32) (7) 31 (49) (25) Deficit in scheme at end of year D￿ned contribution pension scheme The pension costs charged represent the amount of the contributions payable to the scheme in respect of the accounling period. AGE UK TIL4FFORD NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 March 2024 20. ACTING AS AGENT During the year the Charity has acted as agent in relation to two projects - one being a falls prevention service led by Age UK Trafford and Trafford Borough Council in partnership and the other being a project with Skills for Care. In relation to these projects, the Charity has received £217k (2023: £207k) and has paid out £261k (2023: £177k) to consortium members. The net amount held as agent at the balance sheet date is £52k {2023- £96k). The income and expenditure relating to the payments due to the partner organisations are not recognised in the Statement of Financial Activities. 21. CONTINGENT LIABILITYIPOST BALANCE SHEET EVENT It is noted that a contingent liability exists at the balance sheet date in regard lo the company's defined benefit pension scheme. A query in relation to a historic point has been raised by the pension scheme trustees and the Charity's trustees are taking appropriate actuarial advice in on-going liaison with the pension scheme trustees on this matter. After the balance sheet date. this liaison progressed and an amount of £212,335 was agreed in relation to the majority of this contingent liabilty. This amount was paid in June 2024. At the date of approval of these financial ststements, the Charity's trustees consider it impracticable to determine or quantify the potential outcome of the remaining contingent liability. 45 AGE UK TRAFFORD NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 March 2024 22. PRIOR YEAR CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES Restricted Funds 2023 Unrestricted Funds 2023 Total 2023 Income Income from generated funds Donations and legacies Other trading activities Investment income 14.459 84.420 3,492 14.459 84.420 3.429 Income from charitable activilies 111,883 791.440 903,323 Total income 111,883 893,811 1.005.694 Expenditure on: Raising funds Charitable activities 76.082 799.456 76,082 915,390 115.934 Total expenditure 115.934 875,538 991.472 Other finance costs 7.000 7.000 Net income (4.051) 11.273 7,222 Transfers between funds Other recognlsed gains and losses Gains on revaluation of investments Actuarial (loss) on defined benefit pension scheme (5,274) (5.274) (24,000) (24,000} Net movement in funds (4.051) (18,001) (22,052) Reconciliation of funds Total funds brought forward at 1 Aprll 2022 4,051 1,838.354 1,842,405 Total funds carried forward at 31 March 2023 1.820,353 1,820,353 The Statement of Financial Activities includes all gains and105ses recognised in the year. All income and expenditure derive from continuing activities. 46