Financial Statements
For the year ended 31 March 2025
Age UK Trafford
Company number: 05384301 Registered Charity number: 1109047
AGE UK TRAFFORD
| Index to the Financial Statements | Page |
|---|---|
| Legal and administrative information | 1 |
| Report of the Trustees | 2 |
| Independent Auditor’s Report | 10 |
| Statement of Financial Activities | 14 |
| Balance Sheet | 15 |
| Statement of Cash Flows | 16 |
| Notes to the financial statements | 17 – 36 |
AGE UK TRAFFORD
Legal and administrative information
Reference and Administrative Information
Charity Name: Age UK Trafford Charity Registration Number: 1109047 Company Limited by Guarantee Number: 05384301 Registered Office and Operational address: The Sharples Building 1-3 Church Road Urmston Manchester M41 9EH
Board of Directors at 31 March 2025
Andreas Underwood Nicole Alkemade Joanne Gibson Barbara Moore Danielle Tysall Christopher Martindale Waddleton
Chair Elected Elected Elected Elected Elected
Secretary
Mrs AM Jones
Senior Management Team as at 31 March 2025
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
Auditors
Harold Sharp, 5 Brooklands Place, Sale M33 3SD
Principal bankers
RBS, Customer Service Centre, Drummond House, 1 Redheughs Avenue, Edinburgh, EH12 9JN
Solicitors
Woodcocks Haworth & Nuttall 12/14 Manchester Road Bury, BL9 0DX
Personnel and Health & Safety
Peninsula Business Services Ltd, The Peninsula, 2 Cheetham Hill Road, Manchester M4 4FB
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AGE UK TRAFFORD
Report of the Trustees for the year ending 31 March 2025
The trustees are pleased to present their annual directors’ report together with the financial statements of the charity for the year ending 31 March 2025 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: 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).
Plans for future periods
During 2023/24 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 members 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 existing 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 was already recognised the support infrastructure was considerably stretched.
In light of this, other options were explored and ultimately the trustees identified as the best solution a merger. Therefore, 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 engaged Stone King solicitors to support the work of the merger because of their expertise in this area. Due diligence was completed in early 2024, a shadow Board was formed and a new CIO created and registered with the Charity Commission. At the end of 2024/25 financial year both existing charities will transfer all assets and liabilities into the new CIO and become a single charity with one Chief Executive called Age UK Salford & Trafford CIO.
Existing services will continue to be provided and the opportunity for new developments and services pursued. The staff will be transferred under TUPE for which professional advice has been taken and followed. Contract novation is also well underway.
Our Purpose & Vision
The purpose of the charity 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 viability of services, affordability and access to our charged for services is important to us.
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AGE UK TRAFFORD
Report of the Trustees for the year ending 31 March 2025 (continued)
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:
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People over 50, and their carers, are at the centre of everything we do
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We are committed to the best possible support for people with dementia and their carers
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We value and respect our volunteers, supporters and staff
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We are committed to providing the highest quality of services
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We are committed to helping combat climate change
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We are committed to reduce health inequalities
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We strive to add social value to everything we do
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We are passionate, open and honest
Public Benefit
We have referred to the guidance contained in the Charity 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
Information & Advice - This work covers our general Information & Advice Service and includes benefits advice. 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.
Home Library service to people who are housebound across the Borough, delivering library books on a three weekly rota basis.
Community Response Hub : The hubs have continued to run post the pandemic developing support for the most vulnerable in our community. We continue to be funded for 2025-26 to continue this support. Further support has included maximising income, helping people get digitally connected, and distributing the Household Support fund.
Social Activities : We continue to provide our monthly afternoon matinee and a monthly afternoon 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 “ Men’s Room” a social activity group for older men, once a month.
Digital Champions - supporting older people to use the internet and use smart phones/tablets etc.
Memory Loss Advice Service (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 addition, 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, and regular Facebook information posts, and an MCI What’s App group.
Our Dementia specific day support, Passion for Life , 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.
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AGE UK TRAFFORD
Report of the Trustees for the year ending 31 March 2025 (continued)
Our Activities (continued)
Falls Prevention : we work in partnership with Trafford Council Public Health, Trafford Leisure. In order to progress this work, we employ a falls prevention co-ordinator and are developing a comprehensive falls pathway in Trafford which will prevent falls and reduce hospital admissions from falls in the older population. We won this contract tender again for the period 2025—2028.
Nutrition & Hydration: We continued to work with Public Health and Age UK Salford to provide a nutrition and hydration project in Trafford aimed at reducing malnutrition in older people. Trafford Council have given us a small amount (£2000) per annum to continue the holding and distribution of resources in Trafford.
Social Prescribing: This is a commissioned service that supports patients within 3 Primary Care Networks, (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.
Mental Health & Well-being: 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 list. Funding has ended but we continue to provide a reduced service.
Trafford VCFSE (Voluntary, Community, Faith and Social Enterprise) Collective: Age UK Trafford is one of the 4 lead partners for the Collective with our responsibility for the West of Trafford.
Healthy Lifestyles (& Smoking Cessation): We provide health checks such as BP checks, cardia mobile and BMI and also a Smoking Cessation project.
Our volunteers
The charity is very involved in the community and relies on voluntary support in providing our activities. We continue to utilise Lottery funding for a volunteer co-ordinator. The co-ordinator also supports the other organisations in the M41 area and holds volunteering fayres in the area. During the year, 70 volunteers continued to work with us in some way. These volunteers contributed the equivalent of 8 full time equivalent paid staff, a financial impact of approximately £165,000 per annum (calculated at lower wage level but not including any normal staff oncosts).
Financial review
The principal funding sources for the organisation during the period were income from Trafford Metropolitan Borough Council, GM ICB, Age UK, GMMH, South Trafford PCM. Other sources of funding for the organisation during the period included income generated from services delivered, donations and legacies. Designated reserves were used to support the development of projects and the maintenance of the Sharples Building.
Sale Moor charity shop having been closed post pandemic, it was agreed that based on lack of performance we close Ashton on Mersey shop and this was concluded in late 2024. We also agreed to close the trading company which had not traded since we ceased to sell insurance some years ago.
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AGE UK TRAFFORD
Report of the Trustees for the year ending 31 March 2025 (continued)
Investment powers and policy
Aside from retaining a prudent amount in reserves, what unrestricted funds are available for investment are invested within the charity’s general investment policy to aim for the highest return but with the maximum security to its 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 were opened in 2019 and have remained in place.
The charity’s largest investment remains its premises purchased in 2013. This asset will transfer to the new charity and is the registered address of the new charity.
In preparation for the merger, the three high interest savings accounts were closed, and funds will transfer to the new charity on 1 April 2025.
Reserves policy
In establishing its reserves policy and in identifying the continued future of the charity 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 examined the charity’s requirements in light of the main risks to the organisation. It established a policy regarding the minimum required level of unrestricted funds not committed or invested in tangible fixed assets held by the charity. 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
As a consequence of the merger with Age UK Salford from 1 April 2025, the trustees do not consider it appropriate to continue to operate the previous reserves policy as all reserves will be transferred to the new entity, Age UK Salford and Trafford CIO, as at 1 April 2025.
Going concern
The trustees’ view on the going concern position is as detailed in Note 1.
Designated funds
Up to the year ended 31 March 2024, the trustees continued 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 also allowed for the running costs and depreciation of the Sharples Building. A total of £405,770 was designated for this purpose at 31 March 2024.
As a consequence of the merger with Age UK Salford from 1 April 2025, the trustees did not consider it appropriate to continue to designate funds which will be a part of the new organisation and therefore these designated funds have been transferred into general unrestricted funds at 31 March 2025.
The trustees continue to designate the net book value of fixed assets at £766,399 (2024 - £789,438).
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AGE UK TRAFFORD
Report of the Trustees for the year ending 31 March 2025 (continued)
Structure, governance and management
The Charity
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-to-day 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 2024/25 were:
Position
Name
Chair of Trustees
Andreas Underwood
Elected Members Nicole Alkemade Danielle Tysall John Drake (resigned 30 September 2024) Joanne Gibson Ian Peet (resigned 17 March 2025) Barbara Moore Christopher Waddleton Treasurer Representative Members Cllr Kevin Proctor Trafford Council Cllr Dolores O’Sullivan Trafford Council Cllr George Devlin Trafford Council
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AGE UK TRAFFORD
Report of the Trustees for the year ending 31 March 2025 (continued)
Appointment of trustees
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.
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.
Trustee induction and training
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.
Trustees are required to complete three online courses: Risk Assessment, Data Protection and Safeguarding. Training was up to date.
Organisation
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 charity. 8 were elected members and 3 representative members from the local authority. The representatives take part in all discussions but hold no voting rights. The Chief Executive also sits on the Board and acts as Company Secretary but has no voting rights. Age UK (national charity) has observer status when appropriate.
The day-to-day 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-today 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 a brand partner of Age UK.
- Related parties and co operation with other organisations
Age UK Trafford is a brand partner of Age UK and maintains its quality standards. We achieved our organisational quality standard again in 2023. We also work closely with a range of VCFSE partners including those involved in who work as Community Response Hubs and the Collective. We subcontract to Trafford Leisure for part of our Falls Prevention work.
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AGE UK TRAFFORD
Report of the Trustees for the year ending 31 March 2025 (continued)
Pay policy for senior 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 8 to the accounts.
The pay of all staff is set in accordance with pay scales determined 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 re-evaluated. This took the CEO post off the NJC scale but retained the same inflationary increases applied to all other staff annually.
Risk management
The trustees have a risk management strategy which comprises:
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an annual review of the principal risks and uncertainties that the charity faces;
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the establishment of policies, systems and procedures to mitigate those risks identified in the annual review; and
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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 available 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.
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 awareness training for staff working in these operational areas.
Trustees review those services that are a risk – in 2024/25 the largest risk identified is the continued sustainability of the Day Care service and this is being closely monitored.
Approach to fundraising
In the period Age UK Trafford has the following approach to fundraising:
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we comply with recognised standards and are registered with the Fundraising Regulator
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we do not use or work with any professional or commercial fundraisers
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we do not maintain any database for the purpose of fundraising nor do we cold call or target any specific individuals for general fundraising
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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 licence issued by Trafford Borough Council
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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 to make those decisions
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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
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AGE UK TRAFFORD
Report of the Trustees for the year ending 31 March 2025 (continued)
Trustee Responsibilities in relation to the financial 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 statements 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 of the income and expenditure for that period. In preparing the financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements 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 hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the 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 auditors
In so far as the trustees are aware at the time of approving our trustees’ annual report:
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there is no relevant information, being information needed by the auditor in connection with preparing their report, of which the auditor is unaware, and
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the trustees, having made enquiries of fellow directors and the auditor that they ought to have individually taken, have each taken all steps that he/she 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 trustees
Signature: A.underwood
A.underwood (Jul 8, 2025 15:43 GMT+1)
Email: andreasunderwood4@gmail.com Andreas Underwood (Chair) 8 July 2025
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AGE UK TRAFFORD
Independent Auditor’s report to the members of Age UK Trafford
Opinion
We have audited the financial statements of Age UK Trafford for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the 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:
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give a true and fair view of the state of the charity’s affairs as at 31 March 2025 and of its income and expenditure for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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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 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.
Conclusions relating to going concern – emphasis of matter
We draw attention to note 1 to the financial statements 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 trustees 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.
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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 information is materially inconsistent with the financial statements 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 performed, 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.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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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
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the Directors’ Report included within the Report of the Trustees has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In light of the knowledge and understanding of the 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 if, in our opinion:
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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
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the financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of Trustees’ remuneration specific by law are not made; or
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we have not received all the information and explanations we require for our audit.
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the Trustees were not entitled to take advantage of the small companies’ exemption from the requirement to prepare a Strategic Report.
Responsibilities 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 charity 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 charity’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.
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AGE UK TRAFFORD
Independent Auditor’s report to the members of Age UK Trafford (continued)
Auditor’s 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 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. 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:
As part of our planning process:
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We enquired of management the systems and controls the charity has in place, the areas of the financial statements that are mostly susceptible to the risk of irregularities and fraud, and whether there was any known, suspected or alleged fraud.
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We obtained an understanding of the legal and regulatory frameworks applicable to the charity. We determined that the following were most relevant: FRS 102, Companies Act 2006, Charities Act 2011, anti-bribery, health and safety, environmental and employment law.
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We considered the incentives and opportunities that exist in the charity, including the extent of management bias, which present a potential for irregularities and fraud to be perpetuated, and tailored our risk assessment accordingly.
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Using our knowledge of the charity, together with the discussions held with management at the planning stage, we formed a conclusion on the risk of misstatement due to irregularities including fraud and tailored our procedures according to this risk assessment.
The key procedures we undertook to detect irregularities including fraud during the course of the audit included:
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Identifying and testing journal entries and the overall accounting records, in particular those that were significant and unusual.
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Reviewing the financial statement disclosures and determining whether accounting policies have been appropriately applied.
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Reviewing and challenging the assumptions and judgements used by management in their significant accounting estimates.
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Assessing the extent of compliance, or lack of, with the relevant laws and regulations in particular those that are central to the charity’s ability to continue in operation.
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Testing key income lines, in particular cut-off, for evidence of management bias.
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Performing a physical verification of key assets, including fixed assets.
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Obtaining third-party confirmation of material bank balances.
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Documenting and verifying all significant related party balances and transactions.
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Reviewing documentation such as the board minutes of meetings of those charged with governance.
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Reviewing correspondence with relevant regulators (The Charity Commission for England and Wales).
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Enquiring of management as to actual and pending litigation and claims.
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AGE UK TRAFFORD
Independent Auditor’s report to the members of Age UK Trafford (continued)
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements even though we have properly planned and performed our audit in accordance with auditing standards. The primary responsibility for the prevention and detection of irregularities and fraud rests with the Trustees and management.
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 auditor’s report.
Use of the audit report
This report is made solely to the company’s members as a body in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s 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 company and the company’s members as a body for our audit work, for this report, or for the opinions we have formed.
Signed:
Signature: Frederick Norman
Frederick Norman (Jul 8, 2025 15:58 GMT+1)
Email: fn@haroldsharp.co.uk
8 July 2025 Frederick Norman (Senior Statutory Auditor) for and on behalf of Harold Sharp Limited Chartered Accountants and Statutory Auditor 5 Brooklands Place, Sale M33 3SD
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AGE UK TRAFFORD
STATEMENT OF FINANCIAL ACTIVITIES (including an income and expenditure account) For the year ended 31 March 2025
| Restricted | Unrestricted | |||||||
|---|---|---|---|---|---|---|---|---|
| Funds | Funds | Total | Total | |||||
| 2025 | 2025 | 2025 | 2024 | |||||
| Note | £ | £ | £ | £ | ||||
| Income | ||||||||
| Income from generated funds: | ||||||||
| - Donations and | legacies | 2 | - | 12,770 | 12,770 | 19,432 | ||
| - Other trading activities | - | 56,111 | 56,111 | 78,032 | ||||
| - Investment income | 3 | - | 10,586 | 10,586 | 9,167 | |||
| Income from charitable activities | 4 | 171,964 | 796,337 | 968,301 | 920,379 | |||
| ────── | ────── | ────── | ────── | |||||
| Total income | 171,964 | 875,804 | 1,047,768 | 1,027,010 | ||||
| Expenditure on: | ||||||||
| Raising funds | - | 86,518 | 86,518 | 83,945 | ||||
| Charitable activities: | ||||||||
| - General charitable activities |
158,056 | 920,477 | 1,078,533 | 988,286 | ||||
| - Defined benefit |
pension | |||||||
| scheme settlement | 6 | - | 260,830 | 260,830 | - | |||
| - Donation to Age UK Salford |
& | |||||||
| Trafford CIO | 6 | - | 300,020 | 300,020 | - | |||
| ────── | ────── | ────── | ────── | |||||
| Total expenditure | 158,056 | 1,567,845 | 1,725,901 | 1,072,231 | ||||
| ────── | ────── | ────── | ────── | |||||
| Other finance costs | - | - | - | 5,000 | ||||
| ────── | ────── | ────── | ────── | |||||
| Net (expenditure)/income | 13,908 | (692,041) | (678,133) | (50,221) | ||||
| ────── | ────── | ────── | ────── | |||||
| Other recognised gains and losses | ||||||||
| Gains/(losses) on |
revaluation | of | ||||||
| investments | 10 | - | (3,871) | (3,871) | 33,934 | |||
| Actuarial loss on | defined | benefit | ||||||
| pension scheme | 17 | - | - | - | (26,000) | |||
| ────── | ────── | ────── | ────── | |||||
| Net movement in funds | 13,908 | (695,912) | (682,004) | (42,287) | ||||
| Reconciliation of funds | ||||||||
| Total funds brought | forward at | |||||||
| 1 April 2024 | 15 | - | 1,777,083 | 1,777,083 | 1,819,370 | |||
| ────── | ────── | ────── | ────── | |||||
| Total funds carried forward | at | |||||||
| 31 March 2025 | 15 | 13,908 | 1,081,171 | 1,095,079 | 1,777,083 | |||
| ══════ | ══════ | ══════ | ══════ |
The Statement of Financial Activities includes all gains and losses recognised in the year.
All income and expenditure above derived from activities which continued throughout the two accounting periods. On 1 April 2025 the activities were transferred into a new Charitable Incorporated Organisation under a merger agreement and will continue in that entity. The activities have therefore been classified as continuing.
14
AGE UK TRAFFORD
BALANCE SHEET
As at 31 March 2025
Company number: 05384301
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | £ | £ | |
| Fixed assets | |||||
| Tangible assets | 9a | 766,399 | 786,145 | ||
| Intangible assets | 9b | - | 3,293 | ||
| Investment | 10 | 290,296 | 294,167 | ||
| ────── | ────── | ||||
| 1,056,695 | 1,083,605 | ||||
| Current assets | |||||
| Debtors | 11 | 63,865 | 105,997 | ||
| Cash at bank and in hand | 43,319 | 716,216 | |||
| ────── | ────── | ||||
| 107,184 | 822,213 | ||||
| Current liabilities | |||||
| Creditors: amounts falling due within | |||||
| one year | 12 | (68,800) | (128,735) | ||
| ────── | ────── | ||||
| Net current assets | 38,384 | 693,478 | |||
| ────── | ────── | ||||
| Net assets | 1,095,079 | 1,777,083 | |||
| ══════ | ══════ | ||||
| Funds | 15 | ||||
| Restricted funds | 13,908 | - | |||
| Unrestricted funds: | |||||
| Designated funds | 766,399 | 1,195,208 | |||
| Other charitable funds | 314,772 | 581,875 | |||
| ────── | ────── | ||||
| 1,095,079 | 1,777,083 | ||||
| ══════ | ══════ |
The notes at pages 17 to 36 form part of these financial statements.
The financial statements were approved by the Board of Trustees on 8 July 2025 and signed on its behalf by:
A Underwood Trustee
Signature: A.underwood
A.underwood (Jul 8, 2025 15:43 GMT+1)
Email: andreasunderwood4@gmail.com
15
AGE UK TRAFFORD
STATEMENT OF CASH FLOWS
For the year ended 31 March 2025
| TATEMENT OF CASH FLOWS or the year ended 31 March 2025 |
||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Cash flows from operating activities: | ||
| Net (expenditure) | (682,004) | (42,287) |
| Adjusted for: | ||
| Depreciation and amortisation | 23,039 | 23,682 |
| (Gain)/loss on investments | 3,871 | (33,934) |
| Investment income | (10,586) | (9,167) |
| Decrease in trade and other receivables | 42,132 | 27,367 |
| (Decrease) in trade and other payables | (59,935) | (34,135) |
| ────── | ────── | |
| Net cash outflow from operating activities | (683,483) | (68,474) |
| ────── | ────── | |
| Cash flows from investing activities | ||
| Interest received | 10,586 | 9,167 |
| ────── | ────── | |
| Cash inflows from investing activities | 10,586 | 9,167 |
| ────── | ────── | |
| Net (decrease) in cash & cash equivalents | (672,897) | (59,307) |
| ────── | ────── | |
| Opening cash & cash equivalents | 716,216 | 775,523 |
| Closing cash & cash equivalents | 43,319 | 716,216 |
| ────── | ────── | |
| (672,897) | (59,307) | |
| ────── | ────── | |
| Cash and cash equivalents consist of: | ||
| Cash at bank and in hand | 43,319 | 716,216 |
| ────── | ────── |
16
AGE UK TRAFFORD
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2025
1. PRINCIPAL ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)) and the Companies Act 2006. Age UK Trafford meets the definition of a public benefit entity under FRS 102.
Going concern
Age UK Trafford completed a merger with Age UK Salford as from 1 April 2025 to form Age UK Salford and Trafford CIO. At this date, the assets and ongoing trade of the Charity transferred to the newly formed Charity and the current Charity ceased to operate.
As a result of this, the Trustees consider it appropriate to prepare the accounts on a basis other than going concern. The Trustees have not deemed it necessary to restate any balances as a result of adopting this basis of preparation as the activities of the Charity will continue within the new merged entity as currently performed. The Trustees therefore consider it appropriate to continue to disclose the activities of the Charity on an ongoing basis.
The Trustees remain of the opinion that the Charity can pay its debts as they fall due.
Transactions were incurred and amounts paid relating to the merger by the two other entities above on behalf of the charity but the trustees have been informed that no recompense will be sought by those entities and therefore no amounts will be due by the charity in that respect.
Income
Donations and gifts
All monetary donations and gifts are included in full in the Statement of Financial Activities when receivable, provided that there are no donor-imposed restrictions as to the timing of the related expenditure, in which case recognition is deferred until the pre-condition has been met.
Fixed assets donated to the Charity are included as donation income at market value at the time of receipt. Items donated for resale are included in shop income when sold and no value is placed on donated stock at the period end.
Donations under Gift Aid, together with associated income tax recoveries, are credited as income when the donations are receivable.
Legacies are included when the Charity is advised by the personal representative of an estate that payment will be made, if the receipt is both virtually certain and measurable. These are included in the Statement of Financial Activities.
Grants receivable (including Government grants)
Revenue grants are credited as income when they are receivable, provided conditions for receipt have been complied with, unless they relate to a specified future period, in which case they are deferred. Grants for the purchase of fixed assets are credited to restricted income when receivable.
Sales from Charity shop
Sales from Charity shop represents income from the shop from the selling of donated goods and from goods purchased for resale.
17
AGE UK TRAFFORD
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2025
1. PRINCIPAL ACCOUNTING POLICIES (continued)
Acting as agent
Where the Charity receives a grant but the Trustees have no control over the use of the funds, they are considered to be acting as agent, as they are acting only in accordance with the instructions or directions of the principal. As a result, only a management fee is recognised as income in the accounts in respect of these arrangements (see note 4).
Investment income
Investment income, including associated income tax recoveries, is recognised when receivable.
Expenditure
Expenditure, which is charged on an accruals basis, is allocated between:
-
expenditure incurred in generating funds;
-
expenditure incurred directly in relation to charitable activities; and
-
expenditure incurred in the governance of the Charity. This expenditure includes audit fees, certain legal and professional fees and a proportion of management costs considered to be involved in governance issues.
Costs are apportioned to the above categories either directly or based on an appropriate allocation basis such as floor area or percentage of management time. Support costs include central administrative functions and have been allocated to activity cost categories mainly on the basis of direct cost. The company is registered for VAT. Under the partial exemption rules, where applicable, costs and expenditure incurred are inclusive of VAT.
Fund accounting
Restricted funds are to be used for specified purposes laid down by the donor. Expenditure for those purposes is charged to the fund, together with a fair allocation of overheads and support costs.
Unrestricted funds are donations and other income received or generated for expenditure on the general objectives of the Charity.
Designated funds are unrestricted funds which have been designated for specific purposes by the Trustees.
Tangible fixed assets and depreciation
Tangible fixed assets are shown at original cost or, if donated, at their value on the date of the gift, less accumulated depreciation. Amounts in excess of £1,000 are capitalised. Depreciation is provided in equal annual instalments over their estimated useful lives at the following annual rates:
| Buildings | 2% |
|---|---|
| Motor vehicles | 25% |
| Office equipment | 25% |
| Fixtures and fittings | 25% |
| Leased building alterations | over the life of the lease |
Intangible fixed assets and amortisation
Intangible fixed assets (software) are shown at original cost or, if donated, at their value on the date of the gift, less accumulated amortisation. Amounts in excess of £1,000 are capitalised. Amortisation is provided in equal annual instalments over their estimated useful lives of 4 years.
18
AGE UK TRAFFORD
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2025
1. PRINCIPAL ACCOUNTING POLICIES (continued)
Investments
Investments held as fixed assets are stated at market value at the year end. Gains and losses on disposal and revaluation of investments are charged or credited to the Statement of Financial Activities.
Cash and cash equivalents
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less. For the purpose of the cash flow statement, cash and cash equivalents consist of cash and cash equivalents as defined above, net of outstanding bank overdrafts.
Short-term debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the Statement of Financial Activities in other operating expenses.
Pension costs
Defined contribution pension scheme
The pension costs charged represent the amount of the contributions payable to the scheme in respect of the accounting period.
Defined benefit pension scheme
The charity was a member of a defined benefit pension scheme. The assets of the scheme were invested and managed independently of the charity. Pension costs were assessed in accordance with the advice of an independent qualified actuary. The pension scheme liabilities were measured using the projected unit method and any pension scheme deficit was recognised in full on the balance sheet.
At 31 March 2024, the valuation placed the scheme in surplus. Under FRS 102, employers are able to recognise a pension surplus on the balance sheet provided that they are able to recover the surplus either through reduced contributions in the future or through refunds from the scheme. The trustees did not consider this to be the case and therefore no surplus was recognised in these financial statements. The position was therefore treated as break even.
In the current year, the Charity withdrew from the scheme and made a payment in final discharge of any potential liability under the scheme. As required by FRS 102, the cost of this settlement has been recognised within the Statement of Financial Activities in the current period.
Operating leases
Rentals applicable to operating leases are charged against income on a straight-line basis over the lease term.
Critical accounting judgments and key sources of estimation uncertainty
In applying the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The Trustees’ judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods.
19
AGE UK TRAFFORD
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2025
1. PRINCIPAL ACCOUNTING POLICIES (continued)
Critical accounting judgements
The critical accounting judgements that the Trustees have made in the process of applying the Charity’s accounting policies that have the most significant effect on the amounts recognised in the statutory financial statements are discussed below.
- Assessing indicators of impairment
In assessing whether there have been any indicators of impairment in relation to assets, the Trustees have considered both external and internal sources of information such as market conditions and experience of recoverability. There have been no indicators of impairments identified during the current financial year.
Key sources of estimation uncertainty
The key assumptions concerning the future, and other key sources of estimation uncertainty, 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.
- Recoverability of receivables
The Charity establishes a provision for receivables that are estimated not to be recoverable. When assessing recoverability, the Trustees consider factors such as the ageing of the receivables, past experience of recoverability, and the credit profile of individual or groups of customers.
- Determining residual values and useful economic lives of property, plant and equipment
The Charity depreciates tangible assets over their estimated useful lives. The estimation of the useful lives of assets is based on historic performance as well as expectations about future use and therefore requires estimates and assumptions to be applied by management. The actual lives of these assets can vary depending on a variety of factors, including technological innovation, product life cycles and maintenance programmes. Judgement is applied by management when determining the residual values for plant, machinery and equipment. When determining the residual value, management aim to assess the amount that the Charity would currently obtain for the disposal of the asset, if it were already of the condition expected at the end of its useful economic life. Where possible this is done with reference to external market prices.
Legal status of the Charity
The Charity is limited by guarantee and has no share capital.
20
AGE UK TRAFFORD
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2025
2. DONATIONS AND LEGACIES
| Restricted | Unrestricted | Total | Total | ||
|---|---|---|---|---|---|
| funds | funds | 2025 | 2024 | ||
| £ | £ | £ | £ | ||
| Donations | - | 12,770 | 12,770 | 17,432 | |
| Legacies | - | - | - | 2,000 | |
| ────── | ────── | ────── | ────── | ||
| - | 12,770 | 12,770 | 19,432 | ||
| ══════ | ══════ | ══════ | ══════ | ||
| 3. | INCOME FROM INVESTMENTS | ||||
| Restricted | Unrestricted | Total | Total | ||
| funds | funds | 2025 | 2024 | ||
| £ | £ | £ | £ | ||
| Bank interest | - | 9,531 | 9,531 | 9,104 | |
| Dividend income | - | 1,055 | 1,055 | 63 | |
| ────── | ────── | ────── | ────── | ||
| - | 10,586 | 10,586 | 9,167 | ||
| ══════ | ══════ | ══════ | ══════ |
4a. INCOME FROM CHARITABLE ACTIVITIES
| Restricted | Unrestricted | Total | Total | |
|---|---|---|---|---|
| funds | funds | 2025 | 2024 | |
| £ | £ | £ | £ | |
| Grants/contracts (see note 4b) | 171,964 | 572,524 | 744,488 | 724,979 |
| Private Payers Day Support | - | 200,766 | 200,766 | 175,111 |
| Room hire | - | 23,047 | 23,047 | 20,289 |
| ────── | ────── | ────── | ────── | |
| 171,964 | 796,337 | 968,301 | 920,379 | |
| ══════ | ══════ | ══════ | ══════ |
21
AGE UK TRAFFORD
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2025
4b. INCOME FROM CHARITABLE ACTIVITIES – GRANTS/CONTRACTS
| Restricted | Unrestricted | Total | Total | ||||
|---|---|---|---|---|---|---|---|
| funds | funds | 2025 | 2024 | ||||
| £ | £ | £ | £ | ||||
| Trafford ICB: | |||||||
| - | Day Support | 57,100 | - | 57,100 | 56,760 | ||
| Greater Manchester ICB: | |||||||
| - | Dementia United | - | - | - | 2,374 | ||
| - | Partington Long Term Health | 8,250 | - | 8,250 | 750 | ||
| - | Mental Health and Wellbeing | - | 42,852 | 42,852 | - | ||
| - | Trafford Workwell | - | 11,180 | 11,180 | - | ||
| Trafford Council: | |||||||
| - | Day Support | - | 60,536 | 60,536 | 41,559 | ||
| - | Falls Prevention | - | 58,440 | 58,440 | 58,440 | ||
| - | Home Library | - | 33,000 | 33,000 | 33,000 | ||
| - | Information & Advice | - | 12,000 | 12,000 | 12,000 | ||
| - | Household Support | Fund | 20,000 | - | 20,000 | 20,000 | |
| - | Hub funding | - | 16,666 | 16,666 | 19,166 | ||
| - | Healthy Lifestyles | - | - | - | 23,000 | ||
| - | Smoking Cessation | - | 17,000 | 17,000 | - | ||
| - | Health Inequalities | - | 7,300 | 7,300 | - | ||
| Other | HSF vouchers | 1,155 | - | 1,155 | - | ||
| Trafford Council / Trafford ICB (joint | |||||||
| funded): | |||||||
| - | Dementia Adviser Project | - | 117,576 | 117,576 | 116,000 | ||
| Skills for Care | - | 4,126 | 4,126 | 18,372 | |||
| South | Trafford Primary |
Care | |||||
| Network Social Prescribing | - | 40,159 | 40,159 | 39,665 | |||
| Trafford West Primary Care Network | |||||||
| Social Prescribing | - | 40,159 | 40,159 | 39,665 | |||
| Central Primary Care |
Network | ||||||
| Social Prescribing | - | 40,159 | 40,159 | 40,142 | |||
| Age UK | |||||||
| - | Warm Homes | - | 28,400 | 28,400 | 31,959 | ||
| - | Walking Football | - | - | - | 8,708 | ||
| - | MCST funding | - | - | - | 15,114 | ||
| - | Cost of Living | - | - | - | 40,000 | ||
| - | Digital Champions/Hi Digital | 53,568 | 964 | 54,532 | - | ||
| National Lottery Community Fund | 15,225 | - | 15,225 | 7,500 | |||
| Age UK Salford | |||||||
| - | Nutrition & Hydration | - | - | - | 1,800 | ||
| - | Empowered Carers | - | 4,492 | 4,492 | - | ||
| Trafford Collective Partner | Payment | - | 6,000 | 6,000 | 6,000 | ||
| Community Transport Association | - | - | - | 2,555 | |||
| Trafford Housing Trust: | |||||||
| - | Mental Health funding | - | - | - | 48,830 | ||
| - | Hub funding | 16,666 | - | 16,666 | 16,666 | ||
| Other | income | - | 31,515 | 31,515 | 24,954 | ||
| ────── | ────── | ────── | ────── | ||||
| 171,964 | 572,524 | 744,488 | 724,979 | ||||
| ══════ | ══════ | ══════ | ══════ |
22
AGE UK TRAFFORD
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2025
5. GOVERNANCE COSTS
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Staff costs | 11,279 | 7,385 |
| Legal and professional fees | 18,848 | 20,242 |
| Office and communication costs | 1,067 | 1,327 |
| ────── | ────── | |
| 31,194 | 28,954 | |
| ══════ | ══════ |
6. EXPENDITURE ON CHARITABLE ACTIVITIES
Expenditure on charitable activities in the year ended 31 March 2025 includes two significant items as follows:
a) Defined benefit pension scheme settlement £260,830
The Charity was previously a member of the Age UK Defined Benefit Pension Scheme, As previously disclosed in prior years under contingent liabilities, a query in relation to a historic point had been raised by the pension scheme trustees and the Charity's trustees took appropriate actuarial advice in on-going liaison with the pension scheme trustees on this matter. During the year, this liaison progressed and an amount of £260,830 was agreed in full settlement of the liability and this amount was paid during the year.
b) Donation to Age UK Salford & Trafford CIO £300,020
As a part of the merger arrangements, it was agreed that one of the charity’s bank accounts would be closed and the balance paid to the new CIO. This was done in March 2025 and the amount paid in that month. Subsequent to this, the remaining charitable assets will be transferred as at 1 April 2025 in accordance with the merger agreement.
Total expenditure of the charity includes:
| Total expenditure of the charity includes: | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Auditor’s remuneration – audit and accounting fees | 9,170 | 8,750 |
| Depreciation and amortisation | 23,039 | 23,682 |
| Operating leases | 16,668 | 15,968 |
| ══════ | ══════ |
23
AGE UK TRAFFORD
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2025
7. STAFF COSTS
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Salaries and wages | 754,909 | 728,448 |
| Social security costs | 55,269 | 55,208 |
| Pension contributions | 58,554 | 53,453 |
| Funding actuarial deficit | 9,963 | 30,881 |
| ────── | ────── | |
| 878,695 | 867,990 | |
| Adjustment from movement in defined benefit pension scheme | ||
| valuation | - | (31,000) |
| ────── | ────── | |
| 878,695 | 836,990 | |
| ══════ | ══════ | |
| The average weekly number of employees during the year was: | Number | Number |
| Management and administration | 2 | 2 |
| Retail operations | 3 | 3 |
| Enabling older people | 24 | 24 |
| ────── | ────── | |
| 29 | 29 | |
| ══════ | ══════ |
No employee received remuneration greater than £60,000 in the year (2024 – None).
The key management personnel of the Charity comprise the Trustees, the Chief Executive and the Finance & Personnel Manager. The total employee benefits of the key management personnel of the Charity were £117,935 (2024: £114,177).
8. PAYMENTS TO TRUSTEES AND CONNECTED PERSONS
No Trustee, or person with a family or business connection with a Trustee, received remuneration in the year, directly or indirectly, from either the Charity or an institution or company controlled by the Charity.
During the current and comparative years £nil was reimbursed to any Trustee in respect of expenses.
24
AGE UK TRAFFORD
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2025
9a. TANGIBLE FIXED ASSETS
| Long | Leased | |||||
|---|---|---|---|---|---|---|
| leasehold | Motor | Fixtures & | building | |||
| buildings | vehicles | equipment | alterations | Total | ||
| £ | £ | £ | £ | £ | ||
| Cost | ||||||
| At 1 April 2024 | 938,542 | 67,852 | 62,874 | 12,204 | 1,081,472 | |
| Additions | - | - | - | - | - | |
| Disposals | - | - | (3,126) | (12,204) | (15,330) | |
| ────── | ────── | ────── | ────── | ────── | ||
| At 31 March 2025 | 938,542 | 67,852 | 59,748 | - | 1,066,142 | |
| ══════ | ══════ | ══════ | ══════ | ══════ | ||
| Depreciation | ||||||
| At 1 April 2024 | 155,423 | 67,852 | 59,848 | 12,204 | 295,327 | |
| Charge for year | 18,732 | - | 1,014 | - | 19,746 | |
| Disposals | - | - | (3,126) | (12,204) | (15,330) | |
| ────── | ────── | ────── | ────── | ────── | ||
| At 31 March 2025 | 174,155 | 67,852 | 57,736 | - | 299,743 | |
| ══════ | ══════ | ══════ | ══════ | ══════ | ||
| Net book amount at 31 | ||||||
| March 2025 | 764,387 | - | 2,012 | - | 766,399 | |
| ══════ | ══════ | ══════ | ══════ | ══════ | ||
| Net book amount at 31 | ||||||
| March 2024 | 783,119 | - | 3,026 | - | 786,145 | |
| ══════ | ══════ | ══════ | ══════ | ══════ | ||
| NTANGIBLE FIXED ASSETS | ||||||
| Software | ||||||
| £ | ||||||
| Cost | ||||||
| At 1 April 2024 | 23,366 | |||||
| Additions | - | |||||
| ────── | ||||||
| At 31 March 2025 | 23,366 | |||||
| ══════ | ||||||
| Amortisation | ||||||
| At 1 April 2024 | 20,073 | |||||
| Charge for year | 3,293 | |||||
| ────── | ||||||
| At 31 March 2025 | 23,366 | |||||
| ══════ | ||||||
| Net book amount at 31 | March | 2025 | - | |||
| ══════ | ||||||
| Net book amount at 31 | March | 2024 | 3,293 | |||
| ══════ |
9b. INTANGIBLE FIXED ASSETS
25
AGE UK TRAFFORD
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2025
10. FIXED ASSET INVESTMENTS
| IXED ASSET INVESTMENTS | ||
|---|---|---|
| 2025 | 2024 | |
| Total | Total | |
| £ | £ | |
| Market value at 1 April 2024 | 294,167 | 260,231 |
| (Loss)/gain on investments | (3,871) | 33,934 |
| Investment in subsidiary company | - | 2 |
| ────── | ────── | |
| Market value at 31 March 2025 | 290,296 | 294,167 |
| ══════ | ══════ |
The Charity held 2 shares of £1 each in its wholly owned trading subsidiary company Age UK Trafford Trading Ltd which was incorporated in the United Kingdom. During the year, the subsidiary was dissolved.
The investments other than the shares in Age UK Trafford (Trading) Limited are shares within UK listed companies.
11. DEBTORS
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Other debtors | - | 3,575 |
| Amounts owed by Age UK Trafford | - | 13 |
| (Trading) Limited | ||
| Prepayments and accrued income | 63,865 | 102,409 |
| ────── | ────── | |
| 63,865 | 105,997 | |
| ══════ | ══════ |
26
AGE UK TRAFFORD
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2025
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Accruals | 21,496 | 72,243 | |
| PAYE/NI | 13,696 | - | |
| Deferred income (see below) | 33,608 | 56,492 | |
| ────── | ────── | ||
| 68,800 | 128,735 | ||
| ══════ | ══════ | ||
| DEFERRED INCOME | |||
| 2025 | 2024 | ||
| £ | £ | ||
| Balance at 1 April 2024 | 56,492 | 40,029 | |
| Amount released to income | (56,492) | (40,029) | |
| Amount deferred in the year | 33,608 | 56,492 | |
| ────── | ────── | ||
| Balance at 31 March 2025 | 33,608 | 56,492 | |
| ══════ | ══════ | ||
| 13. | RELATED PARTY TRANSACTIONS |
During the year to 31 March 2025 there were aggregate unrestricted donations made by Trustees of £550 (2024 - £600).
During the year, legal services valued at £1,235 were provided without charge by Trustees (2024 – £990).
14. FINANCIAL INSTRUMENTS
Financial assets measured at amortised cost:
| 14. FINANCIAL INSTRUMENTS Financial assets measured at amortised cost: |
||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Included within debtors and cash at | ||
| bank and in hand | 92,629 | 818,638 |
| ══════ | ══════ | |
| Financial liabilities measured at amortised cost: | ||
| 2025 | 2024 | |
| £ | £ | |
| Included within creditors | 21,496 | 71,129 |
| ══════ | ══════ |
27
AGE UK TRAFFORD
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2025
15. FUNDS
| UNDS | ||||
|---|---|---|---|---|
| Movement in year | ||||
| Balance at | Income | Expenditure | Balance at | |
| 31 March | incl gain | incl loss/ |
31 March |
|
| 2024 | transfers | 2025 | ||
| £ | £ | £ | £ | |
| Restricted | ||||
| Household Support Fund | - | 20,000 | 20,000 | - |
| Other HSF | - | 1,155 | 1,155 | - |
| Digital Champions | - | 53,568 | 39,660 | 13,908 |
| Community Based Day Support | - | 57,100 | 57,100 | - |
| Long Term Health Conditions | - | 8,250 | 8,250 | - |
| Hub Support | - | 16,666 | 16,666 | - |
| National Lottery | - | 15,225 | 15,225 | - |
| ────── | ────── | ────── | ────── | |
| - | 171,964 | 158,056 | 13,908 | |
| ────── | ────── | ────── | ────── | |
| Unrestricted | ||||
| Designated funds: | ||||
| Project development and services | ||||
| continuity | 369,840 | 295,723 | 665,563 | - |
| Fixed asset fund | 789,438 | - | 23,039 | 766,399 |
| Sharples building fund | 35,930 | 25,760 | 61,690 | - |
| ────── | ────── | ────── | ────── | |
| 1,195,208 | 321,483 | 750,292 | 766,399 | |
| ────── | ────── | ────── | ────── | |
| Other charitable funds | 581,875 | 554,321 | 821,424 | 314,772 |
| ────── | ────── | ────── | ────── | |
| ────── | ────── | ────── | ────── | |
| Total funds | 1,777,083 | 1,047,768 | 1,729,772 | 1,095,079 |
| ══════ | ══════ | ══════ | ══════ |
.
28
AGE UK TRAFFORD
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2025
15. FUNDS continued
Restricted Funds
Trafford Council Household Support Fund
The Government has provided funding to local councils to be used to support households in the most need particularly those with children and older people who would otherwise struggle with energy, food and water bills. Age UK Trafford was able to access funding via Trafford Council as part of its role as the Urmston Community Hub.
Digital Champions
The Digital Champion Programme aims to identify digitally excluded older people, provide them with accessible technology on a loan basis (if required), and to support them to use digital technology to improve their quality of life.
Trafford ICB Passion for Life Day Support
Awarded to support the sustainability of the Passion for Life Day Support Service.
Greater Manchester ICB Partington Long Term Health Conditions
Awarded to enable us to provide outreach sessions in Partington to help to support residents with long term health conditions.
HubSupport
Awarded to enable us to support the costs of running the Urmston Community Hub including staff, overheads and day to day running costs.
National Lottery Community Fund ‘Partnerships North West Region’
Awarded to enable us to appoint a part-time Volunteer Co-ordinator to promote volunteering in the Urmston Community Hub neighbourhood and to manage the delivery of essential community hub services by volunteers.
Designated Funds
The Trustees’ previous approach was to follow their strategy for the future progress of the organisation by designating funds to enable the development of new projects and service continuity and to accommodate the shortfall in running costs of the Sharples building and had designated £405,770 at 31 March 2024 for these purposes to cover the shortfall in the next 12 months running costs and anticipated project development. As a consequence of the merger with Age UK Salford from 1 April 2025, the trustees did not consider it appropriate to continue to designate funds which will be a part of the new organisation and therefore these designated funds have been transferred into general unrestricted funds at 31 March 2025.
The designated Fixed Asset Fund represents the net book value of fixed assets.
29
AGE UK TRAFFORD
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2025
15. FUNDS continued
| Movement of funds | 2025 | 2024 |
|
|---|---|---|---|
| £ | £ |
||
| Funds at 31 March 2024 | 1,777,083 | 1,819,370 |
|
| (Deficit) in the year to 31 March 2025 | (678,133) | (50,221) |
|
| Recognised gains and losses (net) | (3,871) | 7,934 |
|
| ────── | ────── |
||
| Funds at 31 March 2025 | 1,095,079 | 1,777,083 |
|
| ══════ | ══════ |
||
| Analysis of net assets between funds | |||
| 2025 | Unrestricted | Restricted | 2025 |
| funds | funds | Total | |
| £ | £ | £ | |
| Tangible fixed assets | 766,399 | - | 766,399 |
| Intangible fixed assets | - | - | - |
| Investments | 290,296 | - | 290,296 |
| Net current assets | 24,476 | 13,908 | 38,384 |
| ───── | ───── | ───── | |
| 1,081,171 | 13,908 | 1,095,079 | |
| ═════ | ═════ | ═════ | |
| 2024 | Unrestricted | Restricted | 2024 |
| funds | funds | Total | |
| £ | £ | £ | |
| Tangible fixed assets | 786,145 | - | 786,145 |
| Intangible fixed assets | 3,293 | - | 3,293 |
| Investments | 294,167 | - | 294,167 |
| Net current assets | 693,478 | - | 693,478 |
| ───── | ───── | ───── | |
| 1,777,083 | - | 1,777,083 | |
| ═════ | ═════ | ═════ |
30
AGE UK TRAFFORD
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2025
16. LEASING COMMITMENTS
At 31 March 2025 the Charity had the following future minimum lease payments under noncancellable operating leases as follows:
| Land and | buildings | Other | ||
|---|---|---|---|---|
| 2025 | 2024 |
2025 | 2024 | |
| £ | £ |
£ | £ | |
| Not later than one year | - | 5,958 |
- | 1,668 |
| Later than one year and not later | - | - |
- | - |
| than five years | ||||
| Later than five years | - | - |
- | - |
| ══════ | ══════ |
══════ | ══════ |
These payments are recognised as expenses within the Statement of Financial Activities.
17. RETIREMENT BENEFITS
Defined benefit scheme
The charity operated a defined benefit scheme. A full actuarial valuation of the Scheme was carried out as at 31 March 2022 and the results of this valuation have been updated to 31 March 2024 by a qualified independent actuary. The results of the latest funding valuation at 31 March 2022 have been adjusted to the balance sheet date taking account of experience over the period since 31 March 2022, changes in market conditions and differences in the financial and demographic assumptions. The Scheme is closed to new entrants. In accordance with FRS 102, the valuation of the Scheme’s liabilities has been determined using the projected unit method. In these circumstances the use of this method can lead to the contribution rate underlying the current service cost increasing in future years. The employer currently has no contingent assets in relation to the Scheme.
At 31 March 2024, the valuation placed the scheme in surplus. Under FRS 102, employers are able to recognise a pension surplus on the balance sheet provided that they are able to recover the surplus either through reduced contributions in the future or through refunds from the scheme. The trustees did not consider this to be the case and therefore no surplus was recognised in these financial statements. The position was therefore treated as break even.
The valuation used has been based on the most recent actuarial valuation at 31 March 2022, and was updated by Aon Hewitt to take account of the requirements of FRS 102 in order to assess the liabilities of the scheme. Scheme assets are stated at their market values at the respective balance sheet dates and overall expected rates of return are established by applying published brokers’ forecasts to each category of scheme assets.
In the current year, the Charity withdrew from the scheme and made a payment in final discharge of any potential liability under the scheme. As required by FRS 102, the cost of this settlement has been recognised within the Statement of Financial Activities in the current period. As the scheme has been in an unrecognised surplus and there is no further exposure to the future performance of the scheme at period end, disclosures have been presented for comparative figures only below.
31
AGE UK TRAFFORD
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2025
17. RETIREMENT BENEFITS continued
The assets and liabilities of the scheme at 31 March are:
| Scheme assets at fair value Equities Diversified growth fund Property Gilts and Bonds Cash Fair value of scheme assets Present value of scheme liabilities Unrecognised asset Balance sheet liability |
2024 £’000 159 54 147 700 39 1,099 (1,038) (61) - ══════ |
|---|---|
The major assumptions used by the actuary were:
| 31 March | 31 March | 31 March | |
|---|---|---|---|
| Assumptions as at | 2024 | 2023 | 2022 |
| Rate of increase to pensions in payment for | |||
| members who left service before 6/4/97 | 3.2% | 3.25% | 3.6% |
| Discount rate for scheme liabilities | 4.9% | 4.85% | 2.8% |
| Inflation (RPI) assumption | 3.7% | 3.70% | 3.6% |
The mortality assumptions for the disclosures at 31 March 2024 were:
31 March 2024 31 March 2023 31 March 2022
100% of S3PMA base 100% of S3PMA base 95% of S3P base tables for males and tables for males and tables projected by 100% of S3PFA_M 100% of S3PFA_M year of birth assuming base tables for base tables for future improvement in females projected by females projected by line with CMI 2021 year of birth assuming year of birth assuming core projections with a future improvements future improvements long-term rate of in line with CMI 2022 in line with CMI 2021 improvement of 1.0% projections (with projections (with pa. parameters Sk = 7.0, parameters Sk = 7.0, A = 0.25% and A = 0.25% and w2020/w2021 =0% w2020/w2021 =10%) and w2022 = 25%) and a long-term rate and a long-term rate of improvement of of improvement of 1.25% pa. 1.25% pa.
| The assumed life expectancies |
on | 31 March | 31 March | 31 March |
|---|---|---|---|---|
| retirement at age 65 are: | 2024 | 2023 | 2022 | |
| Retiring today - males | 86.7 | 86.8 | 87.1 | |
| Retiring today - females | 88.6 | 88.8 | 89.5 | |
| Retiring in 20 years - males | 88.0 | 88.1 | 88.1 | |
| Retiring in 20 years - females | 90.1 | 90.2 | 90.6 |
32
AGE UK TRAFFORD
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2025
17. RETIREMENT BENEFITS continued
None of the Scheme assets are invested in the Employers financial instruments or in property occupied by, or other assets used by, the Employer.
Analysis of the amounts charged to operating surplus
| Administration expenses Total operating charge recognised in Statement of Financial Activities |
2024 £’000 5 5 |
|---|---|
Analysis of the amounts credited / (charged) to other comprehensive income
| Taken to other comprehensive income Actual return on pension scheme assets Less: amounts included in net interest on the net defined benefit liability Remeasurement gains and losses recognised in other comprehensive income |
2024 £’000 25 (49) (24) |
|---|---|
Analysis of the amounts included within the statement of total recognised gains and losses
| osses | |
|---|---|
| 2024 | |
| £’000 | |
| Actual return less expected return on | |
| pension scheme assets | (24) |
| Experience gains and (losses) arising on the | |
| scheme liabilities | (8) |
| Change in effect of asset ceiling | 6 |
| ────── | |
| Actuarial loss | (26) |
| ══════ |
33
AGE UK TRAFFORD
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2025
17. RETIREMENT BENEFITS continued
Changes in the fair value of plan assets are analysed as follows:
| 2024 | |
|---|---|
| £’000 | |
| Assets in scheme at start of year | 1,097 |
| Movement in year: | |
| Interest income on scheme assets | 49 |
| Actuarial (loss)/gain on scheme assets | (24) |
| Contributions by company | 31 |
| Benefits paid | (49) |
| Administration costs | (5) |
| ────── | |
| Assets in scheme at end of year | 1,099 |
| ══════ |
Changes in the present value of the defined benefit obligations are analysed as follows:
| 2024 | |
|---|---|
| £’000 | |
| Liabilities in scheme at start of year | 1,030 |
| Movement in year: | |
| Interest cost | 49 |
| Experience (gains)/losses on scheme | 8 |
| liabilities | |
| Benefits paid | (49) |
| ────── | |
| Liabilities in scheme at end of year | 1,038 |
| ══════ | |
| Movement in deficit during the year | |
| 2024 | |
| £’000 | |
| Deficit in scheme at start of year | - |
| Movement in year: | |
| Current service cost etc | (5) |
| Contributions | 31 |
| Actuarial (loss)/gain | (32) |
| Change in effect of asset ceiling | 6 |
| ────── | |
| Deficit in scheme at end of year | - |
| ══════ |
Defined contribution pension scheme
The pension costs charged represent the amount of the contributions payable to the scheme in respect of the accounting period.
34
AGE UK TRAFFORD
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2025
18. 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 £80k (2024: £217k) and has paid out £132k (2024: £261k) to consortium members. The net amount held as agent at the balance sheet date is £nil (2024 - £52k).
The income and expenditure relating to the payments due to the partner organisations are not recognised in the Statement of Financial Activities.
19. CONTINGENT ASSET
As at 31 March 2025, the charity had been notified of a material legacy of which it was a beneficiary. Income recognition criteria were considered and, although it was deemed the charity was entitled to the legacy and that it was probable it would be received, it was not considered that it was possible to estimate with sufficient accuracy the amount receivable.
After the balance sheet date an amount of £125,000 was received. As the decision of the executors to make this payment was not made prior to the end of the accounting period, it was concluded that the income recognition criteria had not been met and the legacy has not been recognised in these financial statements. The charity has been informed a further amount will be received during the 2025/26 year end (by the new CIO) but this cannot be quantified with sufficient accuracy.
35
AGE UK TRAFFORD
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2025
20. PRIOR YEAR STATEMENT OF FINANCIAL ACTIVITIES
| Restricted | Unrestricted | ||
|---|---|---|---|
| Funds 2024 | Funds 2024 | Total 2024 | |
| £ | £ | £ | |
| Income | |||
| Income from generated funds | |||
| Donations and legacies | - | 19,432 | 19,432 |
| Other trading activities | - | 78,032 | 78,032 |
| Investment income | - | 9,167 | 9,167 |
| Income from charitable activities | 216,883 | 703,496 | 920,379 |
| ────── | ────── | ────── | |
| Total income | 216,883 | 810,127 | 1,027,010 |
| Expenditure on: | |||
| Raising funds | - | 83,945 | 83,945 |
| Charitable activities | 216,883 | 771,403 | 988,286 |
| ────── | ────── | ────── | |
| Total expenditure | 216,883 | 855,348 | 1,072,231 |
| ────── | ────── | ────── | |
| Other finance costs | - | 5,000 | 5,000 |
| ────── | ────── | ────── | |
| Net (expenditure) | - | (50,221) | (50,221) |
| ────── | ────── | ────── | |
| Transfers between funds | - | - | - |
| ────── | ────── | ────── | |
| Other recognised gains and losses | |||
| Gains on revaluation of investments | - | 33,934 | 33,934 |
| Actuarial (loss) on defined benefit pension | |||
| scheme | - | (26,000) | (26,000) |
| ────── | ────── | ────── | |
| Net movement in funds | - | (42,287) | (42,287) |
| Reconciliation of funds | |||
| Total funds brought forward at | |||
| 1 April 2023 | - | 1,819,370 | 1,819,370 |
| ────── | ────── | ────── | |
| Total funds carried forward at 31 March | |||
| 2024 | - | 1,777,083 | 1,777,083 |
| ══════ | ══════ | ══════ |
The Statement of Financial Activities includes all gains and losses recognised in the year. All income and expenditure derived from continuing activities.
36