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2022-03-31-accounts

REGISTERED COMPANY NUMBER: 05688674 (England and Wales) REGISTERED CHARITY NUMBER: 1114859

Report of the Trustees and

Financial Statements for the Year Ended 31st March 2022

for

Age UK Worcester and Malvern Hills

Richards Sandy Audit Services Limited (Statutory Auditor) Thorneloe House 25 Barbourne Road Worcester WR1 1RU

Age UK Worcester and Malvern Hills

Contents of the Financial Statements for the Year Ended 31st March 2022

Page
Reference and Administrative Details 1
Co-Chairs' Report 2
Report of the Trustees 3 to 8
Report of the Independent Auditors 9 to 11
Statement of Financial Activities 12
Balance Sheet 13
Cash Flow Statement 14
Notes to the Cash Flow Statement 15
Notes to the Financial Statements 16 to 29
Detailed Statement of Financial Activities 30 to 31

Age UK Worcester and Malvern Hills

Reference and Administrative Details for the Year Ended 31st March 2022

TRUSTEES S Bartholomew A Buttanshaw S Buttanshaw C Clifford (Co-chair) M Dixon (resigned 16.8.22) A Hartley-Woolley (resigned 16.8.22) D Kitcat J Markiewicz J McKenzie H Sherwood (Co-chair) COMPANY SECRETARY C Thomas REGISTERED OFFICE Bank House 7 Shaw Street Worcester Worcestershire WR1 3QQ REGISTERED COMPANY NUMBER 05688674 (England and Wales) REGISTERED CHARITY NUMBER 1114859 INDEPENDENT AUDITORS Richards Sandy Audit Services Limited (Statutory Auditor) Thorneloe House 25 Barbourne Road Worcester WR1 1RU CHIEF EXECUTIVE OFFICER C Thomas BANKERS CAF Bank Limited 25 Kings Hill Avenue West Malling Kent ME19 4JQ SOLICITORS SME 8 Sansome Walk Worcester WR1 1LW

Page 1

Age UK Worcester and Malvern Hills

Co-Chairs' Report for the Year Ended 31st March 2022

The whole period of these accounts covers our first complete year as a merged charity, working together as one enterprise across a much wider area to offer advice, help, friendship and much needed support to our older population.

During this year we have continued with the work to evaluate and harmonise our staff structures, pay and conditions of employment across our organisation. Existing services were enhanced and extended to new rural areas. We have responded to the growing need for Dementia support with our meeting centres and visiting clients in their own homes with our community support programme. The following report shows in detail the impact the sterling work and dedication of our staff in all our services has had on older people and their families.

Our shop managers and staff, under the leadership of Duncan Albutt, have worked tirelessly to rebuild the income generation lost during the covid lockdowns. This has been a difficult task with many people still wary and unsure of resuming their pre-covid lives. The Office of National Statistics has said that retail sales remain 0.6% lower than prepandemic level. Given this our shop teams should be commended for maintaining sound services.

We will continue to look for new opportunities to expand our retail operation and we will look to further develop the services described below and respond to new initiatives to support older people.

The Trustee Board commend the commitment, expertise and hard work of all staff who work to provide the services and contribute so much to help the people we are here to serve. A lot of work happens 'behind the scenes.' Enhanced communications through the new website and the introduction of regular newsletters are helping highlight the range of activity in the new organisation.

We could not do what we do without the help of our many volunteers who freely give their time to help us. We are extremely grateful for all that they do.

We especially give our sincere thanks to our CEO Clare Thomas for her inspiring leadership and her tireless efforts to identify and develop the services needed in our communities.

We are confident that in the challenging times ahead we will continue to be a lifeline to our older population.

Changes to the Board of Trustees.

In May this year we sadly lost our longest serving Trustee. At the time of her death Margaret Dixon had been a Trustee for nearly 30 years. We place on record our respect and gratitude to her for her dedication to our charity.

In August our Chair Anthony Hartley-Woolley decided to retire after over seven years as Chair, five years with Age UK Malvern and then as the first chair of our merged charity. His wide professional experience and skills in organisational management were instrumental to our successful merger. We thank him and wish him well in his future retirement.

The Vice-Chairs of Age UK Worcester and Malvern Hills, Collette Clifford and Hazel Sherwood, were nominated by the Board of Trustees to become the Co-Chairs of the Charity.

We both extend our thanks to our fellow trustees for their support and commitment this year.

Collette Clifford Hazel Sherwood.

Co-Chairs of Age UK Worcester & Malvern Hills

Page 2

Age UK Worcester and Malvern Hills

Report of the Trustees for the Year Ended 31st March 2022

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st March 2022. The trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objects of the charity are to promote the following purposes for the benefit of the public and/or older people with the area of benefit:

the outcome of this being the promotion of the well-being of older people.

Significant activities

The worldwide pandemic severely impacted the provision of our services during 2020 and the first part of 2021, with services in the main transferring to phone and on-line. Due to developing need, we also however had the opportunity and support from stakeholders and funders to launch new services - such as those for people with dementia and those who are bereaved.

Once the country unlocked, during 2021 and 2022 we re-started our face-to-face services, while still maintaining a mixed model of service delivery. We have also developed numerous new services and projects.

We have provided the following services to benefit the older people in and around Worcester and Malvern Hills

1. LATER LIFE PLANNING

a) INFORMATION AND ADVICE: Arguably, our most high-profile service, being a gateway to our other services. Our highly skilled I&A team helps with a very broad range of health and wellbeing issues - being the trusted 'go-to' for the over 50s in our local communities. We undertake a very rigorous external assessment and accreditation process to ensure the validity of our information and advice. We offer face-to-face appointments at our three offices and at home, a telephone helpline and outreach services in the community, all supported by a plethora of information and guidance leaflets. We can help assess eligibility for benefits and assist with form filling and applications. During the year, 7,419 people received information and 2,435 went on to receive long term ongoing support from us. As a result of our work £1,066,936 million was awarded to our clients.

b) LEGAL, PROFESSIONAL and FINANCIAL ASSISTANCE:

We offer a Lasting Power of Attorney service and also signpost any other queries regarding wills, equity release and financial planning to a range of known professional consultants.

2. AT HOME SERVICES

500 clients benefited from our at home services .

a) HANDYPERSON: To enable older people to live safely in their own homes, mainly fitting aids and adaptations and assessing the benefits of, and installing energy saving items, while giving energy saving advice.

b) HOMEWORKERS: We have homeworkers serving clients, with cleaning, ironing, and shopping. Each worker is referenced by us, undertakes relevant training, and is monitored by the Homeworking Coordinator.

We have a growing number of gardeners who offer a gardening service to those who need assistance to keep their gardens tidy and safe.

Page 3

Age UK Worcester and Malvern Hills

Report of the Trustees for the Year Ended 31st March 2022

OBJECTIVES AND ACTIVITIES (continued)

3. HEALTH AND WELLBEING

a) FOOTCARE:

b) BEFRIENDING:

We currently contact about 300 clients, both by telephone and face-to face, approximately 120 volunteers provide companionship to older people who feel isolated.

c) DEMENTIA:

With plans to meet an ever increasing and evident need, during the year we continued to offer a Dementia Community Support Service - with funding from the NHS. This comprises telephone or face-to-face support/companionship in people's homes, by trained volunteers. We also opened 4 dementia meeting centres across Worcester and Malvern Hills, one in partnership with St Matthias Church in Malvern Link. These are funded by Worcestershire County Council/the National Lottery. We offered cognitive stimulation therapy online, for those people with dementia, and their carers who were unable to attend the meeting centres. We also bought (funded by the NHS) a welfare vehicle - our CAMBUS - to deliver awareness raising activities and a life stories project.

d) BEREAVEMENT SUPPORT:

Lockdowns were especially difficult for those who have been bereaved and we therefore worked with St Richard's Hospice to establish a bereavement support service - offering a trained listening ear and companionship. During the year we developed this service.

e) GOOD NEIGHBOUR NETWORK:

As the stay-at-home message was given in March 2020, hundreds of volunteers came together in local communities to help others. We were very fortunate to have been funded by Malvern Hills District Council to develop a Good Neighbour Network. This work was given enormous impetus because of the lockdowns and developed rapidly during last year and this. We have provided support to existing good neighbour groups and helped others to establish - building upon the rich assets of people, places, and partnerships that exist within our local communities. In the autumn of 2021, we were also granted funding from Worcestershire County Council to mirror the Good Neighbour Network in Worcester City.

f) SOCIAL CLUBS, OTHER ACTIVITIES:

Where older people can find companionship and freedom from loneliness. During the pandemic we found new ways to connect people and deliver activities - from online seated dance classes to an intergenerational art project. During this year we have gradually re-opened our face-to-face clubs as well as providing innovative activities such as a music and dance project with Seven Arts. The pandemic slowed but didn't stop progress on other projects for example our Men's shed in Worcester in partnership with St Clément's Church.

g) WINTER PRESSURES:

During the winter months we were part of the NHS winter pressure scheme - helping people to remain independent and stay in their own homes and preventing admission to hospitals.

We offer a very low-cost wheelchair hire service.

4. SHOPS

We were able, with much relief, to re-open our charity shops at the beginning of the year. We were also fortunate to secure a no-rent, temporary furniture shop in the centre of Worcester City. We therefore had eight outlets at the end of the year, which provided essential revenue to support our services while at the same time providing affordable goods for people on low income. We also put our on-line sales onto a firmer footing - employing an on-line sales manager.

Public benefit

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

Volunteers

Our work could not happen without the incredible help of our volunteers. They give of their time tirelessly throughout all our services and retail outlets. A huge gratitude of thanks is owed to them, especially those who returned to us after lockdowns. We currently have around 480 volunteers. If each of them gives just an hour of their time each week - many give much more - this saves the charity over £250,000 a year.

Page 4

Age UK Worcester and Malvern Hills

Report of the Trustees for the Year Ended 31st March 2022

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The year had as its backdrop three significant factors:

Fundraising activities

The charity runs a number of shops selling donated goods for the purposes of raising charitable funds. The charity also receives donations and legacies from members of the public.

Whilst the charity does undertake in general advertising activities for donations of cash, donations of goods for resale and legacies via its website, posters and printed leaflets freely available at its premises, the charity does not directly solicit individual members of the public for donations, nor does the charity use either a professional fund-raiser or a commercial participator to solicit donations on its behalf.

Because the charity does nothing relating specifically to fundraising practices nor directly solicit individual members of the public for donations, it has neither any formal complaints procedure specific to soliciting of donations (although details of its general complaints policy can be found on the charity's website) nor any formal policies in regard to protecting vulnerable people and other members of the public from unreasonable intrusion on a person's privacy, unreasonable persistent approaches for soliciting donations or placing undue pressure on a person to make donations.

FINANCIAL REVIEW

Financial position

Total income of Age UK Worcester and Malvern Hills was £1,169,710 for the year.

The contribution from shop trading after deducting direct costs was £103,801.

Income from grants (including charitable activities), donations and legacies decreased by £36,901.

Costs of enabling older people increased by £251,219 (comparative figures exclude 9 months of Malvern).

Cash resources (including those held in fixed notice accounts classified as current asset investments) at the end of the year amounted to £1,500,111 (2021 - £1,299,950) an increase of £200,161.

Note that as the merger with Age UK Malvern And District occurred part way through the comparative period, as well as the impact of Covid-19, no meaningful comparative figures are available for the above analysis.

Client services

Most of the services have benefited from grants from various bodies to help older people during the pandemic.

Principal funding sources

Despite operating in an increasingly competitive market, and despite the ongoing legacy of the pandemic, the shops have continued to achieve a surplus income to fund the charitable objectives of Age UK Worcester & Malvern Hills. Paid for services, in particular the Homeworkers scheme have also produced a surplus. This is due to the hard work and dedication of the volunteers and staff. In addition, we have received grants and contract income for specific projects and several donations.

Page 5

Age UK Worcester and Malvern Hills

Report of the Trustees for the Year Ended 31st March 2022

FINANCIAL REVIEW (continued)

Investment policy and objectives

We have maintained our policy of investing surplus funds in a readily realisable form.

Cash resources (including those held in fixed notice accounts classified as current asset investments) at the end of the year amounted to £1,500,111 (2021 - £1,299,950).

Interest earned from all deposits during the year was £5,210 (2021 - £2,127).

Reserves policy

Reserves are held to mitigate against uncertainty, ensure there are sufficient reserves to cover any financial shortfalls, to react to unexpected situations, to protect our activities if expected income is not received and to retain continuity in relation to expected grant awards.

The Reserves Policy is to have free reserves (unrestricted funds excluding fixed assets) of at least six months' total revenue expenditure. The policy of the Board is also to direct Reserves into designated areas of service, to fund projects seen as necessary to the Charity's aims, which may possibly not be met in the future by generated income. The designation of reserves is reviewed quarterly. These funds will be excluded from free reserves.

Total reserves at 31 March 2022, excluding fixed assets, were £1,564,332 (2021: £1,386.656). Total designated funds held were £633,348 (2021: £619,480) and total restricted funds held, excluding fixed assets, were £88,613 (2021: £16,029).

At 31 March 2022, free reserves, excluding amounts held as fixed assets, amounted to £842,371 (2021: £751,147) which was equivalent to total expenditure of 10.3 months (2021: 9.2 months based on 2022 total expenditure). The Trustees are confident that there are sufficient reserves to cover possible adverse conditions or events in the meantime.

FUTURE PLANS

In their report the Co-Chairs have related plans for future periods. We will continue to explore new sources of unrestricted income, which will enable us to expand our services.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charitable company is controlled by its governing document, its Memorandum and Articles of Association (as amended by special resolution on 12 August 2020 and on 4 November 2021), and constitutes a limited company limited by guarantee (as defined by Companies Act 2006).

Charity constitution

The charitable company was incorporated on 26 January 2006, registration no. 05688674 and its activities are registered with the Charity Commission, registration no. 1114859.

Organisational structure and decision-making policies

The Directors of the Company who are Trustees of the Charity and who held office during the financial period and at the date of this report are set out on page 1.

The trustees have overall responsibility for ensuring the Charity has systems of internal control in place and for the formulation of strategies and policies. These are designed to give reasonable, but not absolute, assurance against material misstatement or loss. Internal control processes cover policies and procedures for managing finance, risks, a three-year strategic plan and a budget approved by Trustees annually. Regular reports and forecasts are prepared for the Board.

The Trustees have delegated day to day management of the Charity to the Chief Executive Officer (CEO), who during the year was Clare Thomas, and in turn the functions are carried out by staff who report to her. The functional responsibility of staff covers the following areas: Finance, Office Management, Later Life Planning Services, At Home Services, Health and Well-being, Shops and Volunteers.

Appointment of trustees

All charity trustees in office shall serve until the 2023 Annual General Meeting and be eligible for re-appointment for up to two further terms of three years each.

Page 6

Age UK Worcester and Malvern Hills

Report of the Trustees for the Year Ended 31st March 2022

STRUCTURE, GOVERNANCE AND MANAGEMENT (continued)

Recruitment

To ensure that 'new blood' continues to revitalise the Board with appropriate skills and experience, recruitment of new trustees is maintained permanently on a rolling basis. Recruitment is achieved through:

Induction and Training

Each new Trustee receives key documentation and guidance on the role and responsibilities of trustees and has an induction session with the Chair and CEO. They are asked to complete a personal profile form detailing their skills and experience as part of the recruitment process. New Trustees are invited to attend core training, which includes 'An Induction to Age UK' and are circulated with other training opportunities as they arise.

Trustee Indemnity Provisions

The Charity's Articles of Association grants the Trustees indemnity under Sections 232-234 of Companies Act 2006.

Key External Relationships

The organisation is a member of the Age England Association of independent Brand Partners of Age UK and abides by its rules and regulations in promoting the wellbeing of all older people in the Worcester and Malvern Hills areas of administration. It also works with a broad range of partners across the region including Citizens Advice and other voluntary agencies: Worcestershire County Council, Worcester City Council, Malvern Hills District Council; Herefordshire and Worcestershire Clinical Commissioning Group and NHS Trust. It also works closely with other Age UK Brand Partners across the region. West Midlands regional networking meetings and events are attended, where good practice ideas are shared.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

OUR THANKS

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Age UK Worcester and Malvern Hills for the purposes of company law) are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 7

Age UK Worcester and Mafvern Hills Report of the Tw$tee$ for the Year Ended 31st March 2022 STATEMENT OF TRUSTEES, RESPONSIBILITIES {continuedl In so f8r as the trusless are awhre-. there is no relevant audrt InfO￿a￿"On of which the charitable wnx)anVs auditors are unaware," and the trustee5 have taken all steps that Ihey ought to have ¢aken to make themsefv85 8war¢ of 8ny relevant audrt Information and Io 8Stablish that Ih8 auditors are aware of that inloymation. This r8WJrt has be￿ in attly1a￿ wlh the special prOvi8W￿ of Part 15 ofthe c¢Knpan￿S Act 2006 relating to m811 cornp8n￿$. Approved by order of the board of trustees C￿ 2nd 0￿￿bar 2022 and on ils bèhall by". H SheThvood- Co<hair of 808rd of Trustees c arfrcfd. Ctrthair BO3￿ ol Trustees

Report of the Independent Auditors to the Members of Age UK Worcester and Malvern Hills

Opinion

We have audited the financial statements of Age UK Worcester and Malvern Hills (the 'charitable company') for the year ended 31st March 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement 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 (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company 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 the provisions available for small entities, in the circumstances set out in note 25 to the financial statements, 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

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other matters - comparatives audited by another auditor

The financial statements of the charitable company for the year ended 31st March 2021 were audited by another auditor, who expressed an unmodified opinion on those financial statements.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors 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.

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 this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. 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:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

Page 9

Report of the Independent Auditors to the Members of Age UK Worcester and Malvern Hills

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our 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 a Report of the Independent Auditors 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.

However, it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, we have:

As a result of these procedures we consider the most significant laws and regulations that have a direct impact on the financial statements are the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', the Companies Act 2006 (and related legislation), the Charities Act 2011 (and related legislation), laws and regulation regarding partial VAT exemptions and regulations relating to the employment and payment of staff including, but not limited to, the Employment Rights Act 1996, the National Minimum Wage Act 1998 and the Pensions Act 2008.

We performed audit procedures to detect non-compliances which may have a material impact on the financial statements, which included reviewing the financial statement disclosures, reviewing the calculations of VAT returns (including ensuring that only input VAT on qualifying expenditure has been claimed) and sample testing of monthly payroll records for the calculation of gross wages, payroll taxes and pension costs.

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be allocation by management of wage costs to individual restricted funds. We have reviewed management's calculation methodology for allocating wage costs between individual restricted funds.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

Page 10

Report of the Inde￿ndefit Auditor5 to th• hl•mbers of Age UK Worcesier and Mafvem Hi115 A further des￿l￿.0n of respcffjiLNlthe5 for Ihe autlit of Ihe financial statements is kThted on the Finan￿al Reporting Qjuncil's website at www.frc.org.ukJauditorw8sponsibiltie5. This de5(xpti(M) fom)s part of our R8POrt ofth8 Indep8ndent Auditors. Use of our report This report 15 rnade s(lely to the charitable crjnyanrfs rr￿b2rS. as a b(Mly, in acctsrdance VAth Chapter 3 of Part 16 of the Companies Act 2006. Chjr audit work has been undertaken so that we rnight slaie lo th8 Ltharita￿e company's mombers those matters we are required to 5tste to them In èn audrtors. and lor noother PUryK)se. To the lullesl extent pemiitted by law, wè do not ac£6pt or assurne reSpOn￿bIlItY io anyon8 other than the d)aritable o)mpany and lh8 charitable company's members as 8 IKMIY, foroJrau¢Jii I￿rk. lor report. ￿fOr the opink)ns w8 have form￿. Robert lèstyn Rthards FCCA Isenior S¢8tutory Auditor) for 8nd on behalf ol Rithards Sandy Audit SeNC￿ Linwled (Statutory Auditor) Thorneloe House 25 Barboume Road Worcester WR1 1RU Date.. P8g8 11

Age UK Worcester and Malvern Hills

Statement of Financial Activities

for the Year Ended 31st March 2022

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
4
Charitable activities
7
Later Life
At Home Services
Health & Wellbeing
Other trading activities
5
Investment income
6
Trade and assets Age UK Malvern & District
8
Total
EXPENDITURE ON
Raising funds
9
Charitable activities
10
Later Life
At Home Services
Health & Wellbeing
Total
NET INCOME
Transfers between funds
23
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
121,333
51,461
41,409
160,294
577,047
12,410
-
963,954
465,189
155,662
106,979
137,687
865,517
98,437
(82,557)
15,880
1,828,257
**1,844,137 **		 Restricted
funds
£
209,050
-
-
(3,294)
-
-
-
205,756
8,057
21,726
-
86,732
116,515
89,241
82,557
171,798
299,934
**471,732 **		 2022
Total
funds
£
330,383
51,461
41,409
157,000
577,047
12,410
-
1,169,710
473,246
177,388
106,979
224,419
982,032
187,678
-
187,678
2,128,191
2,315,869		 2021
Total
funds
£
379,762
42,474
34,258
100,122
157,821
8,785
988,798
1,712,020
274,162
97,680
77,771
82,116
531,729
1,180,291
-
1,180,291
947,900
2,128,191

The notes form part of these financial statements

Page 12

Agè UK Worc•st•r and Malv•m Hllls Balance Sheet 31st filarch 2022 2022 Total funds 2021 Tot81 funds UnrestrLt8d funds RestrKiad funds FIXED ASSErs Tangible assets 18 368A18 383.119 751.537 741.535 CURRENT ASSETS Debtors Inveslmenls Cash al bank 19 20 123.739 838.959 8.362 132.101 838,959 122,378 841.046 1,S31,828 100,384 1.632,212 1.422.328 CREDITORS Amounts lalllng due wthin one yeaf 21 156,1091 111.7711 167,8801 135.6721 NET CURRENT ASSErs 1475719 1 564 332 1386 656 TOTAL ASSETS LESS CURRENT LIA81UTIES 1.844,137 471,732 2.315,869 2,128,191 NET ASSETS 471,732 2.315 869 2,128,191 FUNDS Unrestrlcted fiJnd8 R￿tr￿1￿ funds 23 1,844.137 471732 1,828,257 TOTAL FUNDS 2315869 2 128 191 Thase financi81 stslements ha￿ bw) prepar•J wi 8cLordance wlilh th• prowslons apPI￿)￿e to th&ritable comp8nk¥s subject to the 8mall rA>mpanies regime. Tho finan¢i•l $t8¢¢ments ￿re approved by the Board of T￿le8S and avtkjrised for i8SU8 on 2nd Oecemb8r 2022 and were SI￿8d on Its beh8W by,. H Sherwwd- Co-tair ol 803rd ol Tnjslees Board of Trust8ès The notes fomi part ofthese financial stslements Page 13

Age UK Worcester and Malvern Hills

Cash Flow Statement

for the Year Ended 31st March 2022

2022
Notes
£
Cash flows from operating activities
Cash generated from operations
1
237,842
Net cash provided by operating activities
237,842
Cash flows from investing activities
Purchase of tangible fixed assets
(43,554)
Sale of tangible fixed assets
2,750
Invested into current asset investments
-
Cash acquired as part of net assets of Age UK Malvern & District (note 8)
-
Interest received
5,210
Net cash (used in)/provided by investing activities
(35,594)
Change in cash and cash equivalents in
the reporting period
202,248
Cash and cash equivalents at the
beginning of the reporting period
458,904
Cash and cash equivalents at the end of
the reporting period
**661,152 **		 2021
£
171,860
171,860
(13,417)
-
(83,170)
145,135
2,127
50,675
222,535
236,369
458,904

The notes form part of these financial statements

Page 14

Age UK Worcester and Malvern Hills

Notes to the Cash Flow Statement for the Year Ended 31st March 2022

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
2022 2021
£ £
Net income for the reporting period (as per the Statement of Financial
Activities) 187,678 1,180,291
Adjustments for:
Depreciation charges 31,116 24,406
Profit on disposal of fixed assets (314) -
Interest received (5,210) (2,127)
Donation of trade and assets of Age UK Malvern & District (note 8) - (988,798)
Investment cash management charges 2,087 -
Increase in debtors (9,723) (42,688)
Increase in creditors 32,208 776
Net cash provided by operations 237,842 171,860

2. ANALYSIS OF CHANGES IN NET FUNDS

Net cash
Cash at bank
Liquid resources
Current asset investments
Total		 At 1.4.21
£
458,904
458,904
841,046
841,046
1,299,950		 Cash flow
£
202,248
202,248
(2,087)
(2,087)
**200,161 **		 At 31.3.22
£
661,152
661,152
838,959
838,959
1,500,111

The notes form part of these financial statements

Page 15

Age UK Worcester and Malvern Hills

Notes to the Financial Statements for the Year Ended 31st March 2022

1. STATUTORY INFORMATION

Age UK Worcester and Malvern Hills is a charitable company limited by guarantee registered in England and Wales. The charitable company's registered number and registered office address can be found on page 1.

The members of the charitable company are the Trustees named on page 1. In the event of the charitable company being wound up, the liability in respect of the guarantee is limited to £nil per member.

The principal activity of the charitable company is that set out in the Trustees' Report.

The accounts are presented in GBP and are rounded to the nearest £1.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

GOING CONCERN

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

INCOME

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Income from grants and donations is recognised in the period in which the charity is entitled to receipt and the amount can be measured with reasonable certainty. Income from grants is only deferred when the charity has to fulfil conditions not yet met before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.

Legacies are recognised when probate is granted and there is sufficient information to measure them. Where there is insufficient information to reliably measure any outstanding legacies, these are instead treated as contingent assets (and details of any such legacies will be disclosed in the notes to these financial statements).

Income relating to services provided in the course of undertaking direct charitable activities represents the value of services provided to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable.

Rental income is measured on a straight line basis over the period of the lease.

EXPENDITURE

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

RAISING FUNDS

Expenditure on raising funds includes all expenditure incurred by the charitable company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

CHARITABLE ACTIVITIES

Expenditure on charitable activities is incurred on directly undertaking the activities which further the charitable company's objectives, as well as any associated costs.

Page 16

continued...

Age UK Worcester and Malvern Hills

Notes to the Financial Statements - continued for the Year Ended 31st March 2022

2. ACCOUNTING POLICIES - continued

ALLOCATION AND APPORTIONMENT OF COSTS

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity.

Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between charitable activities in line with the proportion of directly attributable staff costs.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - 2% on cost Fixtures and fittings - 20% on cost Motor vehicles - 25% on cost

Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

TAXATION

The charity is exempt from corporation tax on its charitable activities.

FUND ACCOUNTING

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

FINANCIAL INSTRUMENTS

The charity has elected to apply the provisions of Section 11' Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the charity becomes party to contractual provisions of the instrument.

Financial assets are offset, with the net amounts presented in the accounts where there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic Financial Assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Basic Financial Liabilities

Basic financial liabilities, including trade and other payables, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future receipts, discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of the operations from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction.

CURRENT ASSET INVESTMENTS

Current asset investments includes cash equivalents on deposit with a maturity of more than 1 month, but less than one year, from the date of acquisition or opening of the deposit or similar accounts.

CASH AT BANK AND IN HAND

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of one month or less from the date of acquisition or opening of the deposit or similar account.

Page 17

continued...

Age UK Worcester and Malvern Hills

Notes to the Financial Statements - continued for the Year Ended 31st March 2022

2. ACCOUNTING POLICIES - continued

PENSION COSTS

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

3. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical areas of judgements

The allocation of support costs between individual unrestricted and restricted funds is based on the estimated split of staff time for each individual employee of the charity. The allocation of general support costs between individual unrestricted and restricted funds is directly linked to the assumptions made in allocating staff costs between individual unrestricted and restricted funds.

It is considered impractical to measure the fair value of donated goods received for the purpose of resale at either the point that such goods are received or any time prior to when they are sold. On this basis, no value is attributed to unsold donated stock held for resale by the charity at the year end.

Key sources of estimation uncertainly

Particularly in regard to freehold property, until such time that such fixed assets are replaced or otherwise disposed of, the useful economic lives of tangible fixed assets (which determine the depreciation rates applied) can only be estimated and may vary to their eventual useful economic lives. Details to these rates can be found in the accounting policies in note 2. The carrying value of tangible fixed assets can be found in note 14.

4. DONATIONS AND LEGACIES

Donations
Legacies
Grants
Grants received, included in the above, are as follows:
Age UK (national)
DWP - Kickstart Scheme
Eveson Charitable Trust
HMRC - Coronavirus Job Retention Scheme
Independent Age
Malvern Hills District Council
National Lottery Community Fund
NHS Herefordshire & Worcestershire CCG
Severn Trent
University of Worcester
Worcester City Council
Worcestershire Community Foundation
Small grants (less than £5,000 each)		 2022
£
14,194
72,613
243,576
330,383
2022
£
24,200
29,016
20,000
177
14,000
40,866
9,117
62,800
-
40,000
-
3,400
-
243,576		 2021
£
10,463
61,474
307,825
379,762
2021
£
-
-
15,000
84,733
3,735
31,595
17,193
-
11,285
-
118,177
10,175
15,932
307,825

Page 18

continued...

Age UK Worcester and Malvern Hills

Notes to the Financial Statements - continued for the Year Ended 31st March 2022

5. OTHER TRADING ACTIVITIES

5.
OTHER TRADING ACTIVITIES
Shop income
6.
INVESTMENT INCOME
Rents received
Bank interest
7.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Client service fees
Later Life
Grants
Later Life
Client service fees
At Home Services
Grants
At Home Services
Client service fees
Health & Wellbeing
Mental Health Matters room rental
Health & Wellbeing
Grants
Health & Wellbeing
Grants received, included in the above, are as follows:
Age UK (national)
Malvern Hills District Council
NHS Herefordshire & Worcestershire CCG
Worcester Citizens' Advice Bureau & WHABAC
Worcester City Council
Worcestershire County Council
Small grants (less than £5,000 each)

Page 19

continued...

Age UK Worcester and Malvern Hills

Notes to the Financial Statements - continued

for the Year Ended 31st March 2022

8. TRADE AND ASSETS OF AGE UK MALVERN AND DISTRICT

On 1 January 2021 Age UK Malvern And District (a charitable company) transferred its trade and assets to Age UK Worcester And Malvern Hills. This has been accounted for as a donation to Age UK Worcester And Malvern Hills.

The assets and liabilities of Age UK Malvern And District at the time of transfer was as follows:

Tangible fixed assets
Debtors
Current asset investments
Cash at bank
Creditors - amounts falling due within one year
Represented by:
General unrestricted funds
Designated funds
Restricted funds
RAISING FUNDS
TRADING ACTIVITIES
Staff costs
Rent, rates and water
Insurance
Light and heat
Telephone
Repairs and maintenance
Sundries
Depreciation		 2022
£
327,862
51,345
1,920
15,813
3,567
22,494
37,365
12,880
473,246		 £
23,317
74,913
757,876
145,135
(12,443)
988,798
633,720
355,000
78
988,798
2021
£
186,169
21,783
4,000
8,130
1,423
15,597
17,986
19,074
274,162

9. RAISING FUNDS

10. CHARITABLE ACTIVITIES COSTS

CHARITABLE ACTIVITIES COSTS
Later Life
At Home Services
Health & Wellbeing
DIRECT COSTS OF CHARITABLE ACTIVITIES
Staff costs
Project costs
Volunteer expenses		 Direct
Costs (see
note 11)
£
92,637
56,286
123,663
272,586		 Support
costs (see
note 12)
£
84,751
50,693
100,756
236,200
2022
£
240,940
29,472
2,174
272,586		 Totals
£
177,388
106,979
224,419
508,786
2021
£
120,545
18,393
351
139,289

11. DIRECT COSTS OF CHARITABLE ACTIVITIES

Page 20

continued...

Age UK Worcester and Malvern Hills

Notes to the Financial Statements - continued

for the Year Ended 31st March 2022

12. SUPPORT COSTS

Later Life
At Home Services
Health & Wellbeing
Support costs, included in the above, are as follows:
Wages
Social security and pension
Employee benefits
Rates and water
Insurance
Light and heat
Telephone
Postage and stationery
Advertising
Sundries
Repairs and maintenance
Travel
Motor expenses
Trustee meetings
Computer
Subscriptions
Depreciation of tangible fixed assets
Profit on sale of tangible fixed assets
Bank charges
Postage and stationery
Auditors' remuneration
Accountancy fees
Legal fees		 2022
£
84,751
50,693
100,756
236,200
2022
£
105,916
10,678
1,175
1,899
2,980
5,254
6,425
8,406
1,332
6,224
1,956
2,084
9,236
772
5,000
4,305
18,236
(314)
3,828
321
9,150
22,665
8,672
236,200		 2021
£
35,768
39,742
42,768
118,278
2021
£
62,670
24,756
1,170
1,449
799
(22,031)
2,559
3,622
87
2,164
3,010
2,132
4,562
921
4,114
2,205
5,332
-
474
-
6,000
8,118
4,165
118,278

13. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

Depreciation - owned assets
Surplus on disposal of fixed assets
Amount paid under operating leases		 2022
£
31,116
(314)
48,271		 2021
£
24,406
-
21,249

Page 21

continued...

Age UK Worcester and Malvern Hills

Notes to the Financial Statements - continued for the Year Ended 31st March 2022

14. AUDITORS' REMUNERATION

Current year auditors
Audit of the financial statements
Other services
Prior year auditors
Audit of the financial statements
Other services		 2022
£
6,050
564
6,614
3,100
1,383
4,483		 2021
£
-
-
-
6,000
1,300
7,300

These amounts include irrecoverable input VAT relating to amounts invoiced.

The £3,100 payable in the current year to the prior year auditor relates to additional charges in regard to the prior year audit over and above what was accrued for in that financial year.

15. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31st March 2022 nor for the year ended 31st March 2021.

TRUSTEES' EXPENSES

There were no trustees' expenses paid for the year ended 31st March 2022 nor for the year ended 31st March 2021.

16. STAFF COSTS

Wages and salaries
Social security costs
Pension costs (relating to defined contribution schemes)
Employee benefits		 2022
£
636,803
37,191
7,909
4,668
686,571		 2021
£
363,426
25,059
4,388
2,438
395,311

The average monthly number of employees during the year was 41 (2021 – 27).

No employees had employee remunerations for the year (excluding employer's N.I. and pension costs) exceeding £60,000 (2021 - 1 employee had remunerations between £60,000 and £70,000).

The key management personnel remunerations for the year (including employer's N.I. and pension costs) totalled £61,399 (2021 - £68,362).

Page 22

continued...

Age UK Worcester and Malvern Hills

Notes to the Financial Statements - continued for the Year Ended 31st March 2022

17. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Later Life
At Home Services
Health & Wellbeing
Other trading activities
Investment income
Other income
Total
EXPENDITURE ON
Raising funds
Charitable activities
Later Life
At Home Services
Health & Wellbeing
Total
NET INCOME/(EXPENDITURE)
Transfers between funds
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
379,762
42,474
34,258
85,680
157,821
8,785
988,720
1,697,500
274,162
83,272
77,771
80,377
515,582
1,181,918
78
1,181,996
646,261
1,828,257		 Restricted
funds
£
-
-
-
14,442
-
-
78
14,520
-
14,408
-
1,739
16,147
(1,627)
(78)
(1,705)
301,639
299,934		 Total
funds
£
379,762
42,474
34,258
100,122
157,821
8,785
988,798
1,712,020
274,162
97,680
77,771
82,116
531,729
1,180,291
-
1,180,291
947,900
2,128,191

Page 23

continued...

Age UK Worcester and Malvern Hills

Notes to the Financial Statements - continued for the Year Ended 31st March 2022

18.
TANGIBLE FIXED ASSETS
Freehold
property
£
COST
At 1st April 2021
865,679
Additions
-
Disposals
-
At 31st March 2022
865,679
DEPRECIATION
At 1st April 2021
164,024
Charge for year
15,314
Eliminated on disposal
-
At 31st March 2022
179,338
NET BOOK VALUE
At 31st March 2022
686,341
At 31st March 2021
701,655
19.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
VAT
Accrued income
Prepayments
20.
CURRENT ASSET INVESTMENTS
Cash equivalents on deposit
21.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
Pension creditor
Rent deposits
Accrued expenses
Deferred grant income		 Fixtures
and
fittings
£
48,851
560
-
49,411
16,196
8,218
-
24,414
24,997
32,655		 Motor
vehicles
£
13,801
42,994
(8,465)
48,330
6,576
7,584
(6,029)
8,131
40,199
7,225
2022
£
5,875
2,255
112,832
11,139
132,101
2022
£
838,959
2022
£
22,319
12,188
-
692
16,646
16,035
67,880		 Totals
£
928,331
43,554
(8,465)
963,420
186,796
31,116
(6,029)
211,883
751,537
741,535
2021
£
5,417
2,593
99,996
14,372
122,378
2021
£
841,046
2021
£
5,785
6,335
1,009
1,292
21,251
-
35,672

Deferred grant income

Deferred grant income relates to service grants receivable where, following the impact of the second Covid-19 lockdown, the charity has agreed with the fund provider to defer delivery of the relating service until the next financial year.

Page 24

continued...

Age UK Worcester and Malvern Hills

Notes to the Financial Statements - continued for the Year Ended 31st March 2022

22. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

Within one year
Between one and five years
In more than five years		 2022
£
33,800
56,533
3,150
93,483		 2021
£
34,724
84,033
9,450
128,207

During the year the charity received rent waivers from its landlords relating to Covid-19 totalling £3,231 (2021 - £nil).

23. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Fixed Asset Replacement Fund
Activities Fund
Dementia Fund
Footcare Fund
Good Neighbour Network Fund
Handy Person Fund
Homeworkers Fund
Information and Advice Fund
Visiting & Befriending
Restricted funds
9a/10 Mealcheapen Street
Information & Advice Fund
Men's Shed Fund
Social Club Lottery Fund
Dementia Fund
Creative Friends Fund
Visiting & Befriending Fund
TOTAL FUNDS		 At 1.4.21
£
1,208,777
75,000
25,177
29,222
74,661
18,940
78,772
109,772
143,806
64,130
1,828,257
284,625
-
3,857
11,452
-
-
-
299,934
**2,128,191 **		 Net
movement
in funds
£
84,569
-
(18,896)
68,673
(3,644)
25,207
(35,282)
9,332
(38,732)
7,210
98,437
(8,057)
23,274
(3,521)
52
75,416
(3,409)
5,486
89,241
187,678		 Transfers
between
funds
£
(82,557)
-
-
-
-
-
-
-
-
-
(82,557)
106,551
-
-
-
(23,994)
-
-
82,557
-		 At
31.3.22
£
1,210,789
75,000
6,281
97,895
71,017
44,147
43,490
119,104
105,074
71,340
1,844,137
383,119
23,274
336
11,504
51,422
(3,409)
5,486
471,732
2,315,869

Page 25

continued...

Age UK Worcester and Malvern Hills

Notes to the Financial Statements - continued

for the Year Ended 31st March 2022

23. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Activities Fund
Dementia Fund
Footcare Fund
Good Neighbour Network Fund
Handy Person Fund
Homeworkers Fund
Information and Advice Fund
Visiting & Befriending
Restricted funds
9a/10 Mealcheapen Street
Information & Advice Fund
Men's Shed Fund
Social Club Lottery Fund
Dementia Fund
Creative Friends Fund
Tackling Inequalities Fund
Visiting & Befriending Fund
TOTAL FUNDS		 Incoming
resources
£
748,683
1,825
63,173
14,851
36,588
18,428
23,113
40,570
16,723
963,954
-
45,000
-
115
136,800
9,109
4,200
10,532
205,756
1,169,710		 Resources
expended
£
(664,114)
(20,721)
5,500
(18,495)
(11,381)
(53,710)
(13,781)
(79,302)
(9,513)
(865,517)
(8,057)
(21,726)
(3,521)
(63)
(61,384)
(12,518)
(4,200)
(5,046)
(116,515)
(982,032)		 Movement
in funds
£
84,569
(18,896)
68,673
(3,644)
25,207
(35,282)
9,332
(38,732)
7,210
98,437
(8,057)
23,274
(3,521)
52
75,416
(3,409)
-
5,486
89,241
187,678

Comparatives for movement in funds

Unrestricted funds
General fund
Fixed Asset Replacement Fund
Activities Fund
Dementia Fund
Footcare Fund
Good Neighbour Network Fund
Handy Person Fund
Homeworkers Fund
Information and Advice Fund
Visiting & Befriending
Restricted funds
9a/10 Mealcheapen Street
Information & Advice Fund
Men's Shed Fund
Social Club Lottery Fund
TOTAL FUNDS		 At 1.4.20
£
646,261
-
-
-
-
-
-
-
-
-
646,261
284,625
-
4,876
12,138
301,639
947,900		 Net
movement
in funds
£
822,438
75,000
(4,823)
(778)
54,661
(1,060)
38,772
109,772
43,806
44,130
1,181,918
-
78
(1,019)
(686)
(1,627)
1,180,291		 Transfers
between
funds
£
(259,922)
-
30,000
30,000
20,000
20,000
40,000
-
100,000
20,000
78
-
(78)
-
-
(78)
-		 At
31.3.21
£
1,208,777
75,000
25,177
29,222
74,661
18,940
78,772
109,772
143,806
64,130
1,828,257
284,625
-
3,857
11,452
299,934
2,128,191

Page 26

continued...

Age UK Worcester and Malvern Hills

Notes to the Financial Statements - continued for the Year Ended 31st March 2022

23. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Fixed Asset Replacement Fund
Activities Fund
Dementia Fund
Footcare Fund
Good Neighbour Network Fund
Handy Person Fund
Homeworkers Fund
Information and Advice Fund
Visiting & Befriending
Restricted funds
Information & Advice Fund
Men's Shed Fund
Social Club Lottery Fund
TOTAL FUNDS		 Incoming
resources
£
1,179,703
75,000
6,517
9,165
64,563
-
83,722
114,495
105,856
58,479
1,697,500
14,486
-
34
14,520
1,712,020		 Resources
expended
£
(357,265)
-
(11,340)
(9,943)
(9,902)
(1,060)
(44,950)
(4,723)
(62,050)
(14,349)
(515,582)
(14,408)
(1,019)
(720)
(16,147)
(531,729)		 Movement
in funds
£
822,438
75,000
(4,823)
(778)
54,661
(1,060)
38,772
109,772
43,806
44,130
1,181,918
78
(1,019)
(686)
(1,627)
1,180,291

PURPOSE OF FUNDS - DESIGNATED FUNDS

The charity has two types of designated funds.

The Fixed Asset Replacement Fund represents a general reserves fund set aside as part of the charity's general reserves policy, where the exact timing of when this fund will be utilised is as yet undetermined.

All other designated funds relate to the direct income and expenditure allocated to specific individual ongoing projects, with the remaining balance on these funds set aside until the related projects have concluded such that if the charity should lose funding for these projects the charity can then continue funding them for a short time until either alternative funding sources can be secured or as to allow a gradual rather than sudden withdrawal of services to the individual benefiting from these projects.

Fixed Asset Replacement Fund

This fund is designated for the purpose of funding any major replacement of our vehicles, and/or for funding a move of offices or shops, if necessary.

Activities Fund

This fund relates to the regular social activities and events with the aim of abolishing social isolation.

Dementia Fund

This fund relates to running group activities designed to support people with early to mid-stage dementia or memory loss.

Footcare Fund

This fund relates to providing regular foot care clinics and home visiting for the charity's clients.

Good Neighbour Network Fund

This fund relates to arranging volunteers to undertake small tasks for individuals over 50.

Handyperson Fund

This fund is designated to provide the means to employ a handyperson to fit aids and adaptations for those with mobility issues, to advise on lighting and electrical installations, to install keysafes and to provide general practical support where the elderly needs it. It is partly funded by client fees charged and a small amount of client donations.

Page 27

continued...

Age UK Worcester and Malvern Hills

Notes to the Financial Statements - continued for the Year Ended 31st March 2022

23. MOVEMENT IN FUNDS - continued

Homeworkers Fund

This fund is designated to provide "Happy Home Workers" to the elderly who need assistance with cleaning, shopping, cooking, dog-walking etc and other domestic needs in their homes. The workers operate on a selfemployed basis, and donate £3 an hour to us to cover administration costs

Information & Advice Fund

This fund has been set up to highlight the financial implications of providing an independent and confidential service to the older people of Worcester, Malvern and District, to improve their quality of life, and keep them safe and warm in their own homes. We supply a plethora of pamphlets and guides, assess eligibility for grants, and give practical help where appropriate. Donations from satisfied customers make a small contribution towards the costs and we are also contracted for the provisions of I&A services by a local medical practice .

Visiting & Befriending Fund

This fund is to identify and contact the house-bound or lonely, and provide them with companionship through the use of volunteers. The only income is derived from a small number of public donations.

PURPOSE OF FUNDS - RESTRICTED FUNDS

9a/10 Mealcheapen Street

This fund relates to the property 9a/10 Mealcheapen Street, Worcester, which was funded by the National Lottery Charities Board. Unless otherwise authorised by them, the property cannot be disposed of for a term of 80 (eighty) years from the date of purchase. The restriction expires in January 2081. All other conditions attached to the fund must be adhered to as well.

Information & Advice Fund

This fund relates to a grant received from Age UK (national) to develop information and advice services to adapt to the needs of older people in the pandemic.

Men's Shed Fund

The fund relates to monies originally received from the Langdale Trust to fund a project to support older men who want to get together, share and learn new skills

Social Club Lottery Fund

This fund relates to a grant received from the Social Club Lottery for the deliverance of a seated dance club for the elderly.

Dementia Fund

This fund relates to monies received from Age UK (national), University Of Worcester and the NHS and in regards to providing community support to those suffering from dementia.

Creative Friends Fund

This fund relates to monies received from the National Lottery Community Fund to fund Creative Friends Intergenerational Art Workshops project.

Tackling Inequalities Fund

This fund relates to monies received from Age UK (national), to fund activities that aimed to help reduce the negative impact of Coronavirus and the widening of the inequalities in taking part in sports and physical activity.

Visiting & Befriending Fund

This fund relates to monies received from Malvern Hills District Council and Independent Age to support reestablishing face to face services for older people.

TRANSFERS BETWEEN FUNDS

During the year £106,551 was transferred from the unrestricted general fund to the restricted 9a/10 Mealcheapen Street fund in order to align the restricted fund balance with the net book value of the restricted property.

During the year the charity purchased a minibus to be used in regards to dementia services costing £23,994. This vehicle was funded out of Dementia restricted fund. On purchase the value of this vehicle was transferred out of restricted funds into unrestricted funds.

Page 28

continued...

Age UK Worcester and Malvern Hills

Notes to the Financial Statements - continued

for the Year Ended 31st March 2022

24. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31st March 2022.

25. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other charities of our size and nature we use our auditors to assist with the preparation of the financial statements.

Page 29

Age UK Worcester and Malvern Hills

Detailed Statement of Financial Activities for the Year Ended 31st March 2022

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Legacies
Grants
Other trading activities
Shop income
Investment income
Rents received
Bank interest
Charitable activities
Client service fees
Mental Health Matters room rental
Grants
Other income
Trade and assets of Age UK Malvern And District
Total incoming resources
EXPENDITURE
Raising donations and legacies
Wages
Social security and pensions
Employee benefits
Rent, rates and water
Insurance
Light and heat
Telephone
Repairs and maintenance
Sundries
Depreciation of tangible fixed assets
Charitable activities
Wages
Social security and pension
Employee benefits
Project costs
Volunteer expenses		 2022
£
14,194
72,613
243,576
330,383
577,047
7,200
5,210
12,410
78,503
3,861
167,506
249,870
-
1,169,710
307,367
18,068
2,427
51,345
1,920
15,813
3,567
22,494
37,365
12,880
473,246
223,520
16,354
1,066
29,472
2,174
272,586		 2021
£
10,463
61,474
307,825
379,762
157,821
6,658
2,127
8,785
19,536
2,290
155,028
176,854
988,798
1,712,020
180,211
4,691
1,267
21,783
4,000
8,130
1,423
15,597
17,986
19,074
274,162
120,545
-
-
18,393
351
139,289

This page does not form part of the statutory financial statements

Page 30

Age UK Worcester and Malvern Hills

Detailed Statement of Financial Activities for the Year Ended 31st March 2022

Support costs
Management
Wages
Social security and pension
Employee benefits
Rates and water
Insurance
Light and heat
Telephone
Postage and stationery
Advertising
Sundries
Repairs and maintenance
Travel
Motor expenses
Trustee meetings
Computer
Subscriptions
Freehold property
Fixtures and fittings
Motor vehicles
Profit on sale of tangible fixed assets
Finance
Bank charges
Information technology
Postage and stationery
Governance costs
Auditors' remuneration
Accountancy fees
Legal fees
Total resources expended
Net income		 2022
£
105,916
10,678
1,175
1,899
2,980
5,254
6,425
8,406
1,332
6,224
1,956
2,084
9,236
772
5,000
4,305
5,247
5,405
7,584
(314)
191,564
3,828
321
9,150
22,665
8,672
40,487
982,032
187,678		 2021
£
62,670
24,756
1,170
1,449
799
(22,031)
2,559
3,622
87
2,164
3,010
2,132
4,562
921
4,114
2,205
-
3,839
1,493
-
99,521
474
-
6,000
8,118
4,165
18,283
531,729
1,180,291

This page does not form part of the statutory financial statements

Page 31