REGISTERED COMPANY NUMBER: 05688674 (England and Wales) REGISTERED CHARITY NUMBER: 1114859 Report of the TNstees and Financial Statsments for the Year Ended 31st March 2024 Age UK Worcost8r, Malvern Hills & Hor•ford Localities Trading as Age UK Wyvem Previou8ly known as Age UK Worcesler and Malvem Hllls Rldiards Sandy Audlt Servic8s Limited (Statutory Auditor) Thorn81o• House 25 Barboume Road Worcester WR1 1RU
Ago UK Worcoster. Malvém Hills & Hereford Localities Tradlng as Age UK Wyvarn previously known as Age UK Worcester and Malvern Hllls Contents of the Financial Statements for the Year Endgd 31st March 2024 Page Reference and Admlnlstrative Details Chairs of tho Board of Trusts•s Report of the Trustoos 3 to 7 Rèport of the Independent Audltorn 8 to 10 statèmont of Financial Actlvltlw4 Balan Shaèt 12 Cash Flow Statement 13 Nots5 10 thè Cash Flow Stat•ment 14 Noto8 to tho Financlal Statements 15 to 32
Age UK WorcesteT, Malvem Hills & Hereford Localltles Trading as Age UK Wyvem prevlously known as Age UK Worcester and Malvern Hllls Reference and Admlnlstratlve Details for the Year Ended 31st March 2024 TRUSTEES S Bartholomew A Buttanshaw C Clifford (Co-¢halr) D Kitcat J Markiewicz J McKenzie H Sherwood [Cchair) J P Hllditch (appointed 30.1.241 Irasigned 23.10.241 D Wheauey {appointed 30.1.241 {resigned 16.9.24) MANAGEMENT TEAM C Thomas S Mosley M Moyles A Scott D MacPherson S Mole DAbutt Chief Exeojtive Deputy Chief Executive Finance Manager Finance Officer & Befrionding Coordlnator Human Relations Head of Services Head of Retail COMPANY SECREfARY C Thomas REGISTERED OFFICE Bank House 7 Shaw Street Worcester Worcestershire WR1 3QQ REGISTERED COMPANY NUMBER 05688674 (England and Wales) REGISTERED CHARrrY NUMBER 1114859 INDEPENDENT AUDITORS Richards Sandy Audit SeNlces Limited {statutory Auditor) Thomeloe House 25 Barbourne Road Worcester WR1 1RU SOLICITORS SME 8 Sansome Walk Worcester WR1 1LW BANKERS CAF Bank Limited 25 lfjngs Hill Avenue West Malling Kent ME19 4JQ Page 1
Age UK Worcester, Malvem Hills & Hereford Localitie5 Trading as Age UK Wyvem prevlously known as Age UK Worcester and Malvern Hills Chalrs of the Board of Trustees for tho Yoar Ended 31st March 2024 During the period covered by these accounts, Age UK WorGesler & Malvern Hllls and Age UK Hereford & Localittes successfully completed the merger on 1st January 2024, to become Age UK Worcesler, Malvern Hills & Hef0rd Localities. The sm(M)Ih transltion lo the new organisation was achieved by the sterfing efforts of our CEO. and the CEO and trustees of Hereford Localities. Looklng ahead. the team recognised the need for a simpler trading tiue wlth the suggestion that the Age UK Wyvem be considered as the most suitable lo reflect our area of working and steps were taken to formally adopt this lille in the year ahead. Our strategic plans for the years ahead were updated in consultatlon wllh the staff teams with all k9en to further develop and in¢rease th8 SUPPOrt we offer to older people in our community. The Senior Management team work with Ihe staff teams who embratsd the further opporbjnltles the merger would bring to provide and enhaTr ServIS lo older people across a muGh larger area. The work undertaken in 2023 outlined in this report support8d a positive start lor the new organisation in 2024. We commend the hard work, expertlse and commEtment of all our staff who continue to slrive to provide the best posslble care and support to our cllents. Their dedication to the aims of our charity ensure we continue to be a forc8 for good in our community. The help and support given by our many volunteers Is essentl81 to the success of all we do, and we give our sincere thanks to all. Our CEO Clare Thomas continues to inspire us with her outstanding leadership. hard work and focus on the concems of older people in our community. We also give our Ihanks to the Senior Management Team who so ably support her with enlhusiasm and positlvity through challenging times. We both wish to extend our thanks to our fellow trustees for their support and commltment thls year. Collette Cllfford. Hazel Sherwood. Co£halrs of AgeUK Worcester. Malvern Hllls & Hereford LoGalities Page 2
Age UK Worcester, Malvern Hllls & Hereford Localltles Trading a5 Age UK Wyvorn prgviously known as Age UK Worcester and Malvern Hills Report of thfy Trustees for the Year End9d 31st March 2024 The trustees who are also directors of the charity for the purposes of the Companies AGt 2006, present their report with the financial statements of the charity for the year ended 31st March 2024. The trLJslees have adopted the provisions of Accounting and Reporting by Charities- Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Flnancial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective 1 January 20191. OBJECTIVES AND ACTIVITIES Objectives and airns The objècts of the charity are to promote the following purposes for the benefit of the public andlor older people with the area of benefit.. Preventinglrelieving the poverty of older people- Advancing education., Preventinglrelieving sickness or suffering in older people. Promoting equality and diversity., Prornoling the human rights of old8r people in accordance with the Universal Declaration of Human Rights,. Assisting older people in need by rea50n of ill-heaith, social exhaustton. or other disadvantage., Such other charitable purpose5 for the benefit of older people as the charity trustees from time lo time decide., Misslon To make a posibve difference to the lives of older people by providing services that help maintain Iheir self-respect, dignity and independence, providing support as needed to enhance and the quality of everyday life. Significant activitles Our work is set in the context of a Gontlnulng cost of living squeeze and dlfficulties in th9 health and social care sectors. Age UK Worcester and Malvern Hills also merged with Age UK Hereford and Localitie5 on January 1 st 2024. Therefore during the year, we undertook consultation with our clients. communities, partners and other stakeholders to detenIne priority need$. As a r8suII, we have maintained or developed projects and seNic8s which fall under four service area5- thrivFng at home,. poslove wellbeing,. being Gonnecled. and resilience in Ghallenglng lim85. THRIVING AT HOME Older people tell us that malnlalnlng their independenc8 and continuing to thrive at home is v8ry important to them as they grow older. By delivering servi$ such as our Help al Home Service, Footcare, Home Energy Checks and Befriènding, we have ensured that older people will remaln Ilving independently for longer and be less likely to need lo go into hosplt21 or care. POSITIVE WELLBEING Older people tell us that having positive physiGal and mental health provides benefit both to them and al80 to society- by maintaining their independence and sottial economic contributions and improving quality of lrfe. Throijgh delivering a whole range of wellbeing projects, such as Being Well. Ticket lo Ride, Shed5 Together, and Dementia Wellbeing Services. we have helped to ensure that older people wlll remain healthy, aclNe and independent for as long as possible. BEING CONNECTED Older peop tell us that maintainlng connections is traI to thelr wellbeing and health. By delivering services such as Connect clubs. Dementia rneeting centres, Carers grDUPS, and Digital inclusion. older people feel less isolated and have opportunities lo be connected with other5 in their community. RESILIENCE IN CHALLENGING TIMES Older people tell us that later life can bring specific challenges suth as poor finance, ill health. relationship breakdown or bereavemert. making il harder for them to stay strorig and d8al with their situation - with (he consequent negative impact for them and for their comTnunities. We have therefore delivered information and advice and helped clients to access benefits.. we have managed and distributed household support fund income-. we have supported people through rnajor health challenges such as dementia,. and supported them through times of poor mental health and grief. As a result, older people have fell supported and are ttter able to deal with challenges in their lives and bEtt8r able to make infomied decisions. Publlc bengfit In settsng objectives and planning for activities, the Tru8t8es have given due consld8ration to general guidance published by the Charity Commission relating to public benefit, including the guldance 'Public benefit., running a charity (PB21'. Page 3
Age UK Worcester, Malvern Hills & Hereford Localitie5 Tradlng as Age UK Wyvem prevlously known as Age UK Worcester and Malvern Hills Report of the Trustees for tha Yaar Ended 31st March 2024 OBJECTIVES AND ACTIVITIES SUPPORTING STRATEGIES AND ACTIONS In order to deliver our objectives. mission and core service areas we have developed and delivered the followng plans= Income generation and partnerships- we have developed positive relationships with fijnders, corporate partners and individual donors to dtversty income streams and develop lasting relationships and long- tetm growth.we have invested in our charity retail shops, paid for servi$ and unreslricted income in order lo sustain and develop services. We have ensured that our financial poliGies and proGedures. data collectlon and donor rnanagement support our income generation. Communication and Marketing- We have made people more aware of our brand, provided clarity of our offer and promoted our services. Volunteers - our work could not hapn wlthout the incredibl8 SUPPOrt of our volunteers. We have Invested in recruiting and supporting them and recognising their enormous contribution - they currently number around 300. If each of them gives just an hour of their time each week- many gtve much more- thls saves the charity over £325,000 a year. Learning and development- we have invested in individual. team and organisational18aming, lo drNe improvement and support the health 8nd wellbeing of staff and volunteers. Buildings. facilities and systems- our plan aims lo ensure that we have the right buildings, facilities and systems to support the work of the organlsation. We alm to manage eststes to ensure that buildings are fit for purpose. We aim lo ensure that IT platforms, resources and training enable us to work effictently and effectively and enable us lo demonstrate impact. We aim to ensure that we commlt to strategies and practice to reduce our environmental impact. ACHIEVEMENT AND PERFORMANCE Fundraising activities The charity runs a number of shops selling donated g(x)ds 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 rash, donations of good5 for resale and legacies via its webSe, posters and printed leaflels freely available at its premises. the charity does not direcuy solicit individual members of the public for donations. nor doe5 the charity use eilher a professional fvnd-raiser or a Commerci partir(pator to solicit donations on its behalf. Because the charity do88 nothing relating specifically to fundraising practices nor diredy soliGIt individual members of the public ft)r donation5, it has noither any fomial complainls procedure specific to soliclllng of donatlons {although details of its general complaints policy can b8 found on the Gharity's website} nor any formal policies in regard to protecting vulnerable people and other members of the publlc from unreasonable intrusion on a person's privacy, unreasonable persistent approaches for soliciting donations or placing undue pressure on a person io make donalions. Page 4
Age UK Worcester, Malvern Hllls & Hereford Lo¢alltles Trading as Age UK Wyvem previously known as Age UK Worcoster and Malvern Hllls Report of the Trustaes for the Year Ended 31st March 2024 FINANCIAL REVIEW Flnanclal position In reviewing the financlal p9rfomi8nce of the Charity, tt must be bome in mind that the activities of Age UK Hereford and Localities {H&L}, logelhèr with ils assets and liabiles, were merged into the Charity on 31st December 2023.This is partl¢ulady pertlnent when comparing performance with prfor year as the last three rnonths are not dlrecdy ¢omparabla. Total Income for the year was £2,069m12023 £1.374m}. an increase of £695k. Howevar, thi5 includes the falr value of the net assets transferred from H&L amounting lo £264k, without which income would have been £1.805m, an increase of £431k131 %). Retail shop sales increased by £248k {4110) 10 £854k, partly through organic sales Increases, but also through the opening of 4 new shops during the year. Grant in¢ome of £779k Iholh under Donations 2nd Legacies and included in Income from Charitable Activities) increased by £162k and accounted for most of the remaining increase In overall income. Although income from Charitable activitie5 increased overall, income from At Home Services declined due lo a £227k reduction in grants, while Health and Well Being income increased through a £197k increase in grants. The contribulion from shop Iradlng reduced to £8k12023- £71k) malnly due to the upfront costs of opening new shops. but also due to writing off £23k accumulated depreciation under a change of capitalisation policy (see Note 2 tr) the accounts). Dlre¢t costs of Charitable Activities increased by £151k (31Yo} to £629k, rnainly due to the Increasing level of services being provided and Support costs increased by £135k146%1 to £429k induding £34k redundancies. One of the drivers of costs has been higher salaries, pushed up by the increases in the n8Uonal minimum wage bul also by implementing adjustments to achieve èqulvalence and o)mpelitive rates where necessary. Net inGome for th6 yaar was £234k, bul this was a net loss of £30k before the £264k fair value galn from the transfer of the H&L net assets. N8t income also includes £79k revaluation lo market value of tha portrolio investments. so without which the loss would have been £109k. Prlncipal fvnding sources Although the shops did not provide a significanl net contribution during the year, despite much stronger income in competitive market, this disguises the fact that a strong funding base is b&lng 8xpand8d. This is because of the raft of new shop start-up Gosts all of whlch ar8 writt8n off in the first year. Pald for seNices, in particular the Hom8workers scheme, have also produced a surplus and in addition we have recelved significant grant and contract income for speafic projecis and donatlons. Investment pollcy and objectives We have mainlain8d our policy of investlng SU[US funds in a readily reali88ble fomi, including in the managed portfolio valued at the year*nd at £1.359m12023.' £1.007m). The portfolio incurred Manag8m8nl Fees of £11k. Cash resources (including those held in fixed not1 accounts classified as current asset Investments) at the end of the year amounted to £655k12023 - £642k). Interest eamed from all depo8lts during the year was £35.3k12023- £8.3kl. Reservgs poIIcy Resetves are held to mitigate against uncertainty. ensure there are suffiGlenl reseNes to Ver any financlal shortralls, to re8cI to unexpected sltuatlons, to protect our activities if expeGted Income is not received and to relaln continuity In relation lo expected grant awards. rhe ReseNes Policy is lo have free reserves (unrestricted funds excluding fixed assets) of at least six months, total revenue expenditure. The policy of the Board Ss also to direGt Reserves into designated areas of servlce, lo fund projects seen as neGessary lo the Charity's airns. which May possibly not be mel in the future by g&nerat8d income. The designation of reseNes is reviewed quarterfy. These funds will be exduded from free reserves. Total reserves on 31 March 2024, excludlng tangible fixed assets. were £1.961.20612023.' £1.658,881)- Total designated funds held were £75,00012023.' £517,067) and lolal restrlcted funds held, excluding fixed assets, were £296.784 (2023.. £107,520). At 31 March 2024, free reserves, excluding amounts held as fixed assets, amounted lo £1,589,422 (2023: £1,034,294) which was equivalent to total expenditure of 10.0 months (2023: 9.5 months based on 2023 total 8xpenditure)- Tha Trustees are confident that there are suffiGient reserves to cover possible adverse condllions or events in fhe meantlme. Page 5
Age UK Worcester, Malvem Hills & Hereford Localities Tradlng as Age UK Wyvern previously known as Age UK Worcgstgr and Malvern Hills Report of Ihe Trustees for the Year Ended 31st March 2024 FUTURE PLANS In their report the cchairS have related plans for future periods. We will continue to explore new sourcès of unrestricted income, which will enable us to expand our services. STRUCTURE. GOVERNANCE AND MANAGEMENT Goveming document The charitable company is controlled by its goveming document, its Memorandum and Articles of AsSl8110n (as amended by special resolution on 12 Augusl 2020 and on 4 November 2021 and on 1st January 2024), and constitutes a limited company limited by guarantee (as defined by Companies Act 20061. Charity constitution The charttable company was incorporated on 26 January 2006, registration no. 05688674 and Its actlvlttes are registered th the Charity Commission, registration no. 1114859. Organlsatlonal slructure and decE5ionrymaking policle5 The Directors of the Company who are Trustees of the Charity and who held office during the finan¢ial period and at the dale of this retx)rt are set out on page 1. Appointment of trustees All charity trustees In office shall seTve until the 2026 Annual General Meeting and be eligible for re-appointment. Rocrultmenc Inductlon and Tralnlng To ensure an effective skill mix and effective governance, recruitment of new trusteès is maintained pemianently on a rolling basis. Each new trustee has a comprehensive inducbon, and the Board revlews its performance on a regular basls. It is also extemally audtted by the tr-annual Age UK quality assessment process. Trustee Indemnity Provisions The Charity's Articles of Association grants the Trustees indemnity under Sections 232-234 of Companies Act 2006. The trustees have overall responsibility for ensuring the Charity has systems of Intem81 control In place and for Ihg formulation of slrategies and policies. These are designed to give r8asonabl8, but not absolute, assurance against material misststement or loss. Internal control processes cover wjlicies and procedures for managing finance, rlsks. a three-year strategi¢ 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 ExeculNe Offi¢er (CEO), who durSng the year was Clare Thomas. In turn the functions are carried out by staff who report to her- the fvnclional responsibility being servTce provision, Finance, HR and faGililies, Income Generation and Marketing and Retail. Key External Relatlonshlps The organisation is an independent Brand Partner of Age UK and abides by its network agreement. 11 also works wlh a broad range of partners across the region including Citizens Advice and other voluntary agencies-. Worcestershire County Councll. Worcestar Clty Council, Malvem Hills District Counal. Herefordshir8 Council, tha Integrated Care Board and NHS partners. It also worts closely with other Age UK Brand Partners across the region. West Midlands region81 networking meetings and events are attended, where good practice ideas are shared. Risk management Tha trustees have a duty to identify and review the risks to which the charity is exposed and to ensure approprfate controls are in place lo provide reasonable assurance against fraud and error. OUR THANKS To all our volunteers without whom we could not provide the services nor generate the funds To the people of Worcester and Malvem Hills, for the donations which stock our shops To our Trustees who give so freely of thelr preclous time and knowledge To all our Funders and Donors who have given so generously over this very difficult year CHANGE OF NAME The charitable company pasged a special resolLrtion on 14th March 2024 changing its name from Age UK Worcester and Malvem Hills to Age UK Worcester. Malvern Hills & Hereford Localities. EVENTS SINCE THE END OF THE YEAR Infomation relating lo events since th8 end of the year is glven in the notes to the financial statements. Page 6
Agg UK Worcester, Malvern Hills & Hereford Localitles Trading as Age UK Wyvgrn previously known as Age UK WoTcester and Malvern Hills Report of tha Trustees for the Year Ended 31st March 2024 STATEMENT OF TRUSTEES. RESPONSIBILITIES The trustees (who are also the directors of Age UK Worcestar, Malvem Hills & Hereford Localitigs for Ihe purposes of company law) are rasponsible for preparing the Annual Report and the financi81 statements in aGcordance with applicable18w and Uni18d Kingdom AG¢ounling Standards (United Kingdom Generally Accepted Accounting Practice). Company law r4uires tho Iruslees to prepare flnancial statements for each financial year which glve a true and fair view of the state of affairs of the Charitable company and of the inwming resources and application of resources, including the income and expenditure, of the charilablo company for that period. In preparing those financi81 statements, the tNstees are required to select suilable accounting policigs and then apply them conslslently- observe the methods and prinGiples In the Charity SORP., make judgements and estimates that are reasonable and prudent., prepare the financial statements on the golng concern basis unless It is inappropriate to presume that the charitable company will continue in business. The trustees are responslble for keeping proper aGGounling records which disclose with reasonable accuracy at any tlme the financial pogition of the charitable company and to enable them to ensure that the financl81 slalements comply with the Companies Act 2006. They are also responsible for safeguarding the 2ssets of th8 charitable company and hence for taking reasonable steps for the prtVenton and detection of fraud and i)ther irregularitios. In so far as the tnjstees are aware.. there is no relevant audit information of which the charitable companvs auditors are unaware., and the trustees have taken all steps that they oughl to have taken to make themse88 aware of any relevant audit informatlon and to 88tablish that the auditors are aware of that information. Thls report has been prepared In accordance with the special provislons of Part 15 of the Cornpanies Act 2008 relating to small companies. Approved by order of th8 board of trustees on .. and slgned on its behalf by: H SheNood - Trustee C Cltfford - Trustee Page 7
Report of the Independent Auditors to the Mernbers of Age UK Worcester, Malvern Hills & Hgrgford Localttles prevlously known as Age UK Worcester and Malvern Hills Oplnlon We have audited the financial statements of Age UK Worcgsler, Malvem Hills & Heretord Loc81ities {the 'charilable company,) for th8 year ended 31st March 2024 which Gomprise the Statemenl of Financial Activities, the Balan Sheet, the Cash Flow Stalemenl and notes to the financial stalemenls, including a summary of slgnificanl acUntIng poliryes. The financial reporbng framework that has been applied in their preparation is appllcable law and United Kingdom Acix)unting Standards (United Kingdom Generally ACpted Accounting Practice). In our oplnlon the financlal statements= glve a tsue and fair view of th8 8tale of the charitable company's affairs as al 31st March 2024 and of incoming reSoUrS and application of resources, including its income and expendtture, for the year then ended.. have been properly prepared in aGGordance with United Kingdom Generally Accepted Accounting Practice- and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for oplnlon We conducted our audit in accordar¢ce with International Standards on Auditing {UK) (ISAS (UKII and appllcable law. Our responsibilittes 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 ElhiGal Stsndard, and the provlslons avallable for small enltles, In the circumstances set out in note 26 to the financial statements, and we have fulfilled our other ethlcal responslbllltles In accordance with these requirements. We believe that the audSt evldence we have obtalned is sufficlent and approprfate to provide a basis for our opinion. Conclusions rglating to going concarn In auditing the financial statemgnts, we have concluded that the trustees, use of the going concem basis of accounting in Ihe preparation of Ihe financial stalements 1$ appropttate. 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 Signifint doubl on the charitable companys ability to contlnue as a going GonG9m for a p8ri0d of at least tsvelv8 months from when the financlal statements are authorised for issue. Our responsiblllties and the responsib51itles of Ihe trustees with respect lo going concem are described In the relevant sections of this report. Othar inforrnation The trustees are responslble for the other Informatlon. The other information comprises the information included In the Annual Report, other than Ihe 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 otherws8 expllcltly stated In our report. we do nol express any fom) of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other infomiation and. in doing 50, consider whether the other infomation is materially inconsistent wtth the financial statements or our knowledge obtained in the audit or otherwise appears to be materially mlsstated. If we identify such material in¢onslstencies or apparent material misstatements, we are required to determine whether this gives rise to a material mlsstatemenl in the flnancial statements themselves. If, based on the wort we have perfomied, we conclude that there is a malerial misstatement of this other infomiation, we are required to report Ihat fact. We have nothing to report in this regard. Opinions on other matters prescrlbed by the Companles Act 2006 In our opinion, based on the work undertaken in the cours8 of the audit.. the InfonatiOn given in the Report of the Trustees for the financial year for which the financlal statements are prepared Is conslstent wllh the financlal statements., 2nd the Report of the Tnjslees has been prepared In accordance with applicable legal requirements. Matters on which vm arg required to report by exception In the light of the knedge and understanding of the chatitable company and Sts environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees. We have nothing to r8port in resp6¢1 of thè following matters where the Companies Act 2006 requires us to report lo you If, In our oplnlon.. adequate accounting records have not been kepl or relums adgquate for our audit hava not been received from branches nol visited by us- or the financial statements are not in agreement with the accounting records and retums. or certain dilosureS of trustees, remuneration specified by law are not made., or we have not received all the infomiation and explanations we require for our audit- or the tnjstees were not enlided to take advantage of the small companles exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees. Page 8
Report of the Independent Auditors to the Membgrs of Age UK Worcestsr, Malvern Hills & Hereford Localiti9$ previously known as Age UK WorGestèr and Malvern Hills Rosponsibilities of trustees As explained more fully in the Slalement 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 ntrol as the Iruslees determine is necessary to enable the prepaiation of ff nancial statements that are free from material misslaternent, whether due to fraud or error. In preparing the f5nancial slatemenls, the trustees are responsible for assessing the charitable cornpany's abllty to continue a5 a going concern, disclosing, a5 applicable. matters related to going CDncem and using the going concem basis of accounting unless the trustees either intend to liquidate the charitable company or lo cease operations. or have no realistic alternative but to do so. Our responsibilitie5 for the audit of the financial statements Our objectives arp to obtain reasonable assurance about whether the financial slaternent5 as a whole are free fro material misstaternent, whether due lo 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 delect a material misststemenl when il exists. Misstatements can arise Irom fraud or error and are considered material if, individually or in the aggregate, they could reasonably be gxpecled lo inff uence the 8conomic decisions of user5 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 th our responsibilitiès, outlined above, to deteGt material misststements in respect of irregu18ri1ies, including fraud. However. It Is the prlmary responsibility of management. wsth the overslght of those ¢haryed with governance. to ensure that the enllvs operations are Gonducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud. In Identifying and assesslng rfsks of material misstatement in respect of Irregularfties, including fraud, we have: obtained an understanding of the nature of the Industry and sector, including the legal and regulatory framework that the company operates in and how the company is complying with the legal and regulatory framework., and inquired of managernenl, and those charged with governan(t. about their own identification and assessment of the risks of irrggularitles, Includlng any known actual, suspeGted or allegèd Instances of freud. As a result of these procedures we conslder the most significant laws and regulations that have a direct impact on the financi81 statements are the Charities SORP IFRS 102) 'AOUntIng and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing Ihoir accounts In accordance with the Financlal Reporting Standard applicable In the UK and R9public of Ireland IFRS 102) (effective 1 January 201gi', Financial Reporting Standard 102 'The Flnancial Reporting Stsndard applicable in the UK and Republic of Ireland,, the Companies Act 2006 (and related legislation). the Charities Act 2011 land related legislation), laws and regulation regarding partial VAT exemptions and regulations relating to the employment and payment of staff includlng. bul not limited to. the Employment Rights Act 1996, the National Mlnlmum Wage AGt 1998 2nd the Pensions Act 2008. We perfomied audlt procedures to detect non-compliances which may have a matèrlal impact on the financial ststements, which inc]uded reviewing Ihg financial statement disclosures, reviewing the calculations of VAT returns {including ensuring that only input VAT on qualrfying expenditure has been claimed) and sample testing of monthly payrotl records for the calculation of gross wages. payroll taxes and pension costs. We identified the greatest risk of material impact on the finanaal statements from irregularities, including fraud, to be allocation by managernenl of wage costs to indivtdual restricted fund5. We have reviewed management's calculabon methodology for allocating wage costs between individual resbicted funds. Because of the inherent limitations of an audit, there is a risk that we wll not delect all irregu12ritses, including those leading lo a material misstatement in the financial staternents or non-compliance with regulab"on. This risk increases the MO that compliance with a law or regulation is removed from the events and transactions reffecled in the financial statements, as we will be less likely lo becom8 aware of instances of non-cornpliance. The risk is glso greater regarding irregularities occurring due to fraud rather than error. as fraud involves intentional concealment. forgery. cdlusion, omission or misrepresenlalion. A further description of our responsibilities for the audit of the finanaal statements is located on the Financial Reporting Council's website 81 www.frG.org.uklauditorsresponsibilities. Thi5 description forrTrs part of our Report of the Independent Auditors. Page 9
Report of the Independent Auditors to the Members of Age UK WorGester, Malvem Hills & Hereford Localities prevlously known as Age UK Worcester and Malvern Hi118 Use of our report This report is made solely to the charitable companWs members, as a body, in acix)rdance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might stale to the charitable company's members those matters we are required to state to them in an auditors, report and for no other purpose. To th8 fullest extent permitted by law, we do not accept or assume responsibility to anyone other th8n the charitable company and the charitable Company's rnernbers as a body, for our audit work, for this report. or for the oplnlons we have formed. a Jean Godwin ACA ACCA (Senior Slatutory Auditor) for and on behalf of Flchards Sandy Audit Services Limited (statutory Auditor) Thorneloe House 25 8arbourn8 Road Worcester WR1 1RU Date: .... IL.LW.................. Page 10
Age UK W0¢$ter, Malvem Hllls & Hereford Localltles Trading a5 Age UK Wyvem previously known as Age UK WorcesteTand Malvem Hllls statement of Flnancial Activities Ilncorporating an Income and Expenditure Accounti for the Yaar Ended 31st March 2024 2024 Total funds 2023 Total funds Unrestricted funds Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 128,289 193.973 322,262 140,420 Charltable aclivitie$ Infomation and Advlr Al Hotne Servlces Health & Wellbelng 23,709 45.522 66.210 23,709 45,522 521.051 12,805 274,396 326.349 454,841 Other trading actiwlies Investment income other income 854.879 37,670 119,426 114 854,993 37,670 264,353 605,801 14,485 144.927 Total 1,275,705 793 855 2,069 560 1,374,256 EXPENDITURE ON Raising funds 846,924 9.510 856,434 537,932 Charitable activities Inforniation and Advl At Home SeThic8s Health & Wellbeing 10 125.636 93,628 235.485 157,097 282.733 93,628 681,826 215,099 140,402 416,948 Total 1,301673 1.914,621 1,310,381 Net gains on investments 18,002 NET INCOME 53,213 180,907 234,120 81.877 RECONCILIATION OF FUNDS Total fijnds brought forward 1,917,178 480.568 2,397,746 2,315,869 TOTAL FUNDS CARRIED FORWARD 1970 391 661,475 2 631,866 2,397 746 The noles tomi part of these finanaal slatements Page11
Age UK WorGester, Malvem Hills & Hereford Localities Trading as Age UK Wyvern previously knovm as Ago UK Worcoster and Malvern Hills Balance Sheet 31st March 2024 2024 Total funds 2023 Total funds Unreslricled funds Restricled funds Notes FIXED ASSErs Tangible assets Investments 18 19 305,972 1359 809 364,688 670,660 1359.809 738,865 1,007,131 1,665,781 364,688 2,030,469 1.745,996 CURRENT ASSErs Debtors Investments Cash at bank 20 21 132,190 87.693 278.305 7,977 288.807 140,167 376,500 278 305 113.882 372.454 269,823 498.188 296,784 794,972 756,159 CREDITORS Amounts falling due wlthln one year 22 {193.575) {193.575) 1104,409) NET CURRENT ASSETS 304 613 296 784 601.397 651,750 TOTAL ASSETS LESS CURRENT LIABILITIES 1,970,394 661,472 2.631.866 2.397,746 NET ASSETS 1,970.394 661.472 2,631.866 2,397.746 FUNDS Unrestricted funds Restricted funds 24 1.970.394 661.472 1.917,178 480,568 TOTAL FUNDS 2.631.866 2.397 746 These finanaal statèments have been prepared in aGGordance with the prowsions applicable lo charitable companies subject to th8 small companies regime. The fi ancial statements were approved by the Board of Trustees and authorfsed for Issue on . and were signed on its behalf by= H Sherwood - Trustee C Cliffor(l- Tru5 Th& notes fom part of these financial statements Page 12
Age UK w08$ter. Malvorn Hills & Hereford Localities Trading as Age UK Wyvem prevlously known as Age UK Worcester and Malvern Hills Cash Flow Statement foT the Year Ended 31st March 2024 2024 2023 Notes Cash flows frorn operating activltles Cash generated from operations 150,620 Net cash (used inyprovided by operating activities 67,8511 150,820 Cash flov from inv95ting activities Purchase of tangible fixed assets Purchase of fixed a55el Investments Sale of tsngible fixed assets Sale of fixed asset investm8nts Net movement lo current asset inveslrnent Cash 8cqulred as part of Age UK Hereford & Localities Interest received (27,8101 11.035,4441 (569,0881 2,500 295,571 197.164 114,846 46,315 466,505 8,285 Net cash prowded byllusgd inl inve5tiTbg activities 76,333 542.149) Change In cash and cash equivalonts in the reportlng perlod Cash and cash equlvalents at the beglnnlng ofthe reporting period 8,482 1391.329) 269,823 661,152 Cash and cash equlvalgnts at the end of the reportlng pgriod 278,305 269,823 The notes form part of these finanaal slaternents Page 13
Age UK Worcester, Malvem Hllls & Hereford Localltles Trading as Age UK Wyvern previously known as Age UK Worcester and Malvern Hllls Notes to the Cash Flow Statement for the Year Ended 31st March 2024 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Nel income for the reporting period las per the Statement of Financial Activities) Adjustments for: Depreciation charg8s Gain on investments Profil on disposal of fixed assets Interest e1Ved Donallon of trade 2nd assets of Age UK Hereford & Localltles Ilncreaseydecrease in debtors Increase in credito 234,120 81,877 66,420 179.181) 1713) {35,320) (264,3531 124.570} 40,482 (18,002) (8,285) 18,219 36,529 Net ca8h (used Inllprovlded by operations 67851) 150,820 ANALYSIS OF CHANGES IN NET FUNDS Assets of Age UK Hereford & Localities At 1.4.23 Cash fiow At 31.3.24 Net cash Cash at bank 269 823 106 364 278.305 106 364 11 278.305 Llquld resource6 in cash Current asset investments 372,454 197 165 201.211 376.500 197 165 201.211 376 500 Total 303 529 316.057 654 805 The notes form part of these financial slatements Page 14
Age UKWorcestsr, Malvém Hills & Hereford LoGalities Trading as Age UK Wsryem prevlously known as Age UK Worcester and Idlalvern Hills Noles to the Flnanclal Statements for the Year Ended 31st March 2024 STATUTORY INFORMATION Age UK Worcester. Malvern Hills & Hereford Localities is a tharitable company limited by guarantee registered in England and Wales. The charitable companys registered nutnber and registered office address can be found on page 1. The members of the charitable company are the Trustee5 named on page 1. In the event of the charitable company being wound up, the liability in respect of the guarantee is limited lo £nil per member. The principal activity of the charitable cotnpany is that set out in the Trustees, Report. The accounts are presented in GBP and are rounded to the nearest £1. ACCOUNTING POLICIES BASIS OF PREPARING THE FINANCIAL STATEMENTS The financial statements of the charitable company, which is a public benefit entity under FRS 102, hav6 been prepared in accordance with the Charities SORP (FRS 1021 'Accounting and Reporting by Charities- Ststement of Recommended Practicè applicable lo charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 (effective 1 January 20191., Financial Reporting Standard 102 'The Flnancial Reporting Standard 2pplicabl8 in the UK and Republi¢ of Ireland. and the Companies Aol 2006. The financial statements have been prepared under the historical cost convention, wlh the exGeption of investments which are included at market value. as modified by the revaluation of certain asse18. GOING CONCERN The financial statements have been prepared on a going conGem b8sls as th8 trustees believe that no material uncertainties exist. The Injstees 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 wlth th8 level of reserves for the charity to be able to continue as a golng concem. INCOME All income is recognlsed in the Statement ol Financial Actlvllles once the charity has entitlement to the fvnds, It Is probable that the incom8 will be received and the arnount can be measured reliably. Income from grants and donation8 1$ re(x)gnised in the period in which the charlty is entitted to receipt and the amount can be measured with reasonable certainty. In¢ome from grants is only deferred when the charity has to fulfil conditions not yet met before becoming entitled lo It or where the donor has specified that the income Is to be expended in a future p&riod. Legacies are recognised when PTob8te is granted and there is sufficient information to measure them. Where there is insufficient infr>rmation la reliably measure any outstanding legacies, these are inslead treated as contingent assets {and details of any such legacies will be disclosed in the notes lo these financial statements). Incorne relating lo services provided in the course of undertaking direct charitsble 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 considemtion received Dr receivable. Rental income is measured on a straight line basis over the period of the lease. Interest incorne (including interest receivablg on fixed interest listed investment bonds) is recognised for all inlerest-bearing instruments on the effective interest rate basis. DNidends are recognised in the income statement when they are declated. EXPENDITURE Llabilities are recognised as expenditure as soon as there is a legal or constructive obligation cornmitting the charity lo that expenditure, il 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 Ihat aggregate all cost related lo the category. Where costs Gannot be directty attrfbuled to particular headings they have been allocated to activities on a basis con51Stent with the us8 of resources. Page 15 continued...
Age UK Worcester, Malvem Hills & Hereford Localitles Trading as Age UK Wyvern pravlously known as Ag9 UK Woro9Ster and Malvgm Hills Notes to the Financial Statements - continued for the Year Ended 31st March 2024 ACCOUNTING POLICIES . contlnued RAISING FUNDS Expenditure on raising funds Includes all eXndItU in¢urred by the charitable company to rais& funds for its charitable purposes and includes costs of all fvndraising activities events and non-charitsble trading. CHARITABLE ACTIVITIES Expendire on charitable activities is incurred on directly undertaking the acttvities which further the charitable company's objectives. as well as any a550ciated rx)st5. ALLOCATION AND APPORTIONMENT OF COSTS Expenditute is classified by acbvity. 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 lo a single actiwty are alloealed direcuy to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single aclivity are apportioned between charitable activities in line with the ptrjporbon of directly attributable staff costs. TANGIBLE FIXED ASSETS Depreciatiori Is provided at the lollowing annual rates in orderto write off each asset over tts estimated usefvl life. Freehold propety Fixtures and fitbngs Motor vehides 2Tr/o on cost 20Q/o on cost 25Vo on cost Tangible flxed assets costing £5,000 or more (was £500 until 1 Aprll 20231 are capita15sed and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. In the current year all assets with an original cost of 18SS than £5,000 have been depreciated in full in order lo fleet the change in accounting policy. The financial effect of this is an additional £23,266 of depreciation has been recognised in the SOFA. LISTED INVESTMENTS Llsted investments are slaled at market value. Increasesl{decreasesl on revaluations of listed investments are transferred tol{from) the Statement of Financial Activities. TAXATION The rharity is exempt from corporation tax on its charitable activities. FUNDACCOUNTING Unreslricied funds can be used in accordance with the charitable oblectlves at the dlscretion of the trustees. Restricted funds can only be used for parttcular restricted purposes within the objecis of the charity. Restrlctions 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 charty has elected to apply the provisions of Section 11. Basic Financial Instnjments. and Section 12 '0ther Financial Instruments Issues. of FRS 102 to all of its financial instruments. Financial inslruments are recognised when the charity becomes paty to contracbjal provisions of th8 instrument. Financial assets are offset, wilh the net amount5 presented in the accounts where Ihere is a legally enfoabl9 rtght to sel off the rer£*gnised amounts and there is an intention to setde on a net basis or to realise the a&£et and settle the liability simultaneously. Basic Flnanclal Assets Bassc financial assets, which include trade and other receivables and cash and bank balances, are inilially measured at transaciion price including transaction costs and are subsequenuy Carred at amortised cost using the effective interest method unless the orrangement constitut25 a financing transaction. where the trdnsaction is measured at the present value of the fvture recelpts dlscount8d at a market rate of interest. Page 16 continued...
Age UK Worcester, Malvern Hi115 & Hereford Localltles Trading a5 Age UK Wyvem previously known as Age UK Worcester and Malvern Hllls Notes to the Flnanclal Statements- continued for the Year Ended 31st March 2024 ACCOUNTING POLICIES - contlnued FINANCIAL INSTRUMENTS Baslc Financial Liabilities Basic financial liabilities. including trade and other payables, are initially recognised at transaction PTice unless the arrangetnent GOnStilutes a financing transaction, where the debt instrument is measured al the present value of fLrture receipts, discounted at a market rate of inteTesl. Debt instwments are subsequenljy 12rried at amortised cost. using the effective interest rate method. Trade payables are obligations to pay for goods or seNices that have been acqui in the ordinary course of the operations from suppliers. Accounts payable are classified a5 current liabilities if payment is due within one year or les5. If not, they are presented as non-current liabilities. Trade payables are recognised initially al Iransaclion. 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 acquisib.on or opening of the deposit or similar accounts. CASH AT BANK AND IN HAND Cash at bank and in hand includes cash and short-tsrni highly liquid investmants with a short maturity of one month or less from the date of acquisition or opening of the deposit or similar account. PENSION COSTS The charitabl8 company operates a defined conlribLrtlon pension scheme. Contributlons payable to the charitable cnmpany's pension scheme are charged to the Ststemenl of Financial Activities in the period to which they relate. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY Estimates and judgements are continually ev8]uated and are based on historfcal experience and other factors, Indudlng expectallons of future gvenls that ara believed to be reasonable under the clrcumslances. Critical areas of judgements The 8110¢81ion of support costs between individual unrestricted and rostricted funds is based on the eslimated split of staff time for each individual employee of the charity. The allocation of general 8UPPOrt costs between individual unrestricted and restricted funds is direcuy linked to the assumptions made in allocating staff costs beeen individual unrestricted and restrfcted funds. It is Gonsidered Impractical lo measure the fair value of donated goods received for the purpose of resale at either the polnt that such goods are received or any time prior to when they are sold. On this basi5, no value is attributed lo unsold donated sto¢k held for resale by the charity at the year end. Significant judgement is applied when determining whelher or not each of the grants received by the charity are subject to conditions that either link the the amounts receivable to the achievement Df a particular level of service provided or state that elements of the total grant award cannot be spent until future financial periods. Where grant incotne Is considered to be received subject to such wndilions, then the element of the total grant award that doe5 not meet the criteria for recognition as at the balance sheet date is not recognised and any (xsh received in advance of meeting the criteria tor recognition is deferred. Key sources of estlmation uncertainty Particularly in regard to freehold property, until such time that such ffxed as5et5 are replaced or otherwise disposed of, the useful economic lives of tangible ffxed assets (which determine the depreciation rates applied) can only be estirnated and may vary to their eventual useful economic lives. Details lo Ihesg rates can be found in the accounting policie5 in note 2. The carrying value of tangible fixed assets can be found in note 16. Page 17 contsnued...
Age UK Worcester, Malvem Hllls & Hereford Localltles Tradlng as Age UK Wyvern prevlously known a5 Age UK Worcesler and Malvern Hllls Notes to the Flnanclal Statements - ¢ontinu8d for the Year Ended 31st March 2024 DONATIONS AND LEGACIES 2024 2023 Donations Legacies Grants 32,986 10,887 278 389 30,725 12,766 322.262 140,420 Grants recefvèd, included In the above. are as follows: 2024 2023 Age UK National - Cost of Living Response Fund Age UK National - Partnership Grant Citizens Advi Worcester and Herefordshir8 DWP- Kickslart Scheme Eveson Charitable Trust Herefordshire Community Foundation Ledbury Town Councll Nation81 Lottery Community Fund Malvem Hills District Council University of Worcester Westem Power Distribution Worcester City Council- other Worcestershire County Council - Household Support Fund 45,000 15,000 10.000 15.000 5,286 55,000 10.000 1.100 9.740 13,500 40,000 8,249 4.894 46.500 25,049 278 389 96,929 OTHER TrADING ACTIVITIES 2024 2023 Sundry Shop income 1,312 853 681 605,801 854,993 605,801 INVESTMENT INCOME 2024 2023 Rents received Bank interest Listed investment inGome 2,350 12,377 22,943 6,200 5,834 37.670 14,485 Page 18 continued...
Age UK Worcester, Malvem Hills & Hereford Localltles Trading a5 Age UK Wyvem proviously known as Age UK Worcesterand Malvern Hills Note5 to the Flnanclal Statements- continued for the Year Ended 31st March 2024 INCOME FROM CHARITABLE ACTIVITIES 2024 2023 Activity Inforniation and Advlce Infomation and Advlce At Home SeNices At Home Servlces Health & Wellbeing Cllent seNice fegs Grants Client service fe8s Granls Client service fees Mentsl Health Matters room rental Grants 709 23,000 45,522 870 11.935 46.615 227,781 41,T46 43,310 Health & Wellbging Health & Wellbeing 3,838 280 765 477,741 590 282 613.550 Grarrts recelved, Includ8d in the above, are as follows: 2024 2023 Age UK National - Digital Inclusion Project Age UK National - Travelling Companions Project Age UK National - other Citizens Advice WorGester and Herefordshire Herefordshire Council Malvem Hills District Council Malvem 14ills Dlslrlcl Council - Being Well Project Malvem Hills District CounGiI - Good Neighbour Netsvo Malvem Hills DislriGI CounGil Ticket to Rid8 NHS Herefordshire & Wtsrceslershire CCG Worcegler Clty Council - Household Support Fund Worcestershire County Council - Household Support Fund Worcestershire County CounGil - other 72.000 56,500 7,640 9,935 7,275 23,000 9.890 185.825 25,000 17,500 3,750 15,000 74,980 220,141 18,035 274.951 500.741 520,481 OTHER INCOME Ork 31 December 2023 the 858ets, liabililies and activities of Age UK Hereford and Localities (a charitable company limited by guarantee with Gompany number 04394760 and charity number 10935121 were transferred to Age UK Worcester and Malvern Hills. The charlty subsequently changed its name from Age UK Worcester and Malvem Hills to Age UK Worcest8r, Malvern Hills & Hereford Localiti8S. The table below sets out the fair value of Ihe identffiable assets and liabilities acquired.. Trade and other debtors Cash Fixed Asset Investment Trade creditors Accruals and oth8r creditors 1.Tq7 114,846 201,211 17,765) 45,656 264,353 Represented by.. General unrestricted funds Restricted funds 119.426 144,927 264.353 Page 19 (X)ntinu...
Age UK Worcester, Malvern Hills & Hereford Localities Tradlng as Age UK Wyvom prevlously known a5 Agg UK WorGostèr and Malvern Hllls Notes to the Financial Statement5 - continued forthg Year End8d 31st March 2024 RAISING FUNDS OTHER TRADING ACTIVITIES 2024 2023 Staff costs Rent. rates and waler Insurance Light and heat Computer Telephone Repalrs and maintenan Shop expenses Legal and professional fees Depreaation 476,010 113.167 2,194 55.277 14.494 7.703 48,36S 78,627 10.856 38.687 357,014 53,307 2,903 16,311 3,7B3 38,364 46.068 17,381 845,380 535,131 INVESTMENT MANAGEMENT COSTS 2024 2023 Listed investment manager fees 11.054 2.801 Aggrègate amounts 856 434 537,932 10. CHARrrABLE ACTIVITIES COSTS Direct Costs (see note111 Support costs (see nole 121 Totals Information and Advice At Home Services Health & Wellbeing 160,324 33,294 435,614 122.409 60.334 246.212 282,733 93,628 681.826 629 232 428,955 1,058.187 11. DIRECT COSTS OF CHARITABLE ACTivrriES 2024 2023 Staff costs Prolect costs Volunlger expenses Warm Homes Costs Home Energy Checks Costs Warmth on Prescription HSF vouchgrs 443,735 30,986 2.246 10.431 116.820 25,014 363,119 28,234 1.874 7.962 16.060 61,095 629,232 478.344 Page 20 continued...
Ag8 UK Worcester, Malvem Hllls & Hereford Localitles Trading as Age UK Wyvem previously known as Age UKWorcestorand Malvern Hllls Notès to the Flnanclal Statements- continued for the Year Ended 31st March 2024 12. SUPPORT COSTS Governance costs Management Finance Totals Information and Advice At Home Services Health & Wellbeing 112,698 51.931 229.076 1.027 262 1,865 8,684 2.141 15.271 122.409 60,334 399.705 3.154 428,955 Support Costs, included in the above, are as follows.. 2024 2023 Information and Advice At Home Servi Health & Wellbelng Total aGlivitios Total activities Wages Social security and penslon Employee benefits Rent. rates and watar Insurance Light and heat Telephone Postage and stationery Advertising Sundries Repalrs and maintenance Travel Motor expenses Trustee meetings Computer Subscriptions Redundancies Depreciation of tangible fixed assets Profit on sale of tangible fixed assets Bank charge5 Auditors, remuneration Accountancy fe8S Legal fees 42.036 9.526 737 19.858 1,876 4,408 3.068 5,474 1,661 5.615 2,112 2,380 10,713 2,428 188 669 478 1,105 669 1,423 147 1,130 405 567 810 144 q,255 388 34.025 115.610 17,317 1,341 5,414 3,408 7,884 4,805 8,993 1,048 15.981 3,577 4,208 8,045 1,027 8,952 2,769 168,359 29,271 2.266 25.941 5.762 13,397 8.542 15,890 2,856 22,726 6.094 7,155 8,855 1,736 15,132 4.680 34.025 126.026 12,887 6,918 17,653 3,428 11.295 6,034 11,001 860 8,781 6,880 2.868 10.540 1.170 4,576 3,871 565 4.925 1.523 6,934 2.100 18.697 27,731 23.101 1713) 262 752 529 860 1713) 3.154 9.066 6,380 1.027 2.950 2.077 3.657 1,865 5,364 3,774 6,133 2,560 8.480 11.526 13.650 122.409 60,334 246.212 428,955 294,105 13. NET INCOMEI{EXPENDITURE) Net Incomel(expenditurel is slated after chargingl{crediting)'. 2024 2023 Depreciation - owned assets Surplus on disposal of fixed 2ssels Amount paid under operating le8ses 66,418 1713> 40.482 59.483 Page 21 Gontinued...
Age UK Worcester, Malvern Hllls & Hereford Localltles Trading as Age UK Wyvem previously knijwn as Age UK Worcester and Malvern Hills Notes to the Flnanclal Statemgnts - continued for the Year Endad 31st March 2024 14. AUDITORS. REMUNERATION Amounts paid to the auditor in the year are as follows.. 2024 2023 Auditorfs remunemtion Other services 9,066 6.380 8,480 20,006 15. TRUSTEES. REMUNERATION AND BENEFITS There were no truslees, remuneration or other benefits for the year ended 31 st March 2024 nor for the year ended 31st MarGh 2023. TRUSTEES. EXPENSES There were no trustees. expenses paid for the year ended 31stMarch2024 nor for the year ended 31st March 2023. 16. STAFF COSTS 2024 2023 Wages and salaries Redundancies Social security costs Pension costs (relating to deffnad contributs'on schemes) Employee b8ngffts 1.026,784 34025 69.912 15,719 763.690 56,777 9,773 35.724 1.152.064 The average monthly number of employees during the ygar was as follows.. 2024 61 2023 45 Average number of employees The number of employees whose employee benefits (excluding employer pension costs) exce@ded £60.000 was: 2024 2023 £70,001- £80,000 The key managem8nt personnel r8mun8rations for the year (including employer's N.1. and penslon costs) totalled £253,75912023- £182,244). Page 22 continued...
Age UK Worcester, Malvem Hills & Hereford Localities Trading as Age UK wOrn previously known as Age UK Worcestor and Malvern Hllls Notes to the Flnanclal Staternerits- ¢ontinued for the Year Ended 31st March 2024 17. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds Restricted funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacie5 63,778 76,642 140.420 Charitablè actlvitles Information and Advice At Home Servlces Health & Wellbging 12,805 274.398 196,252 12,805 274,396 326,349 130.097 Other trading activitios Investsnent income 605,801 14,485 605,801 14.485 Total 1 167.517 206.739 1,374,256 EXPENDtTURE ON Raising funds 529,875 8.057 537,932 Charitable acllvltles Information and Advice At Home Services Health & Wellbeing 200,870 135,508 258,598 14,229 4,894 158.350 215.099 140,402 416,948 Total 1.124.851 185,530 1.310,381 Nel gains on inveslments 18,002 NET INCOME Transfers between funds 60,668 12,374 21,209 12,3741 81.8TI Net movement in funds 73,042 8,835 81,877 RECONCILIATION OF FUNDS Total funds brought forward 1.844.137 471.732 2,315,869 TOTAL FUNDS CARRIED FORWARD 1,917.179 480,567 2,397,746 Page 23 continued...
Age UK Worcester, Malvem Hills & Hereford Localitles Tradlng as Age UK Wyvem prevlously known a5 Age UK Worcester and Malvern Hllls Notos to the Financial Slatements - continued for Iha Year Ended 31st March 2024 18. TANGIBLE FIXED ASSETS Fixiures and tttngs Freehold propety Motor vehicles Totals COST At 1 st Apiil 2023 Disposals 865.679 77,221 48,330 5.336) 991,230 At 31st March 2024 865 679 42,994 985 894 DEPRECIATION At 1st April 2023 Charge for year Eliminated on disposal 194.651 15.616 37.501 39.720 20,213 11.082 3.549) 252.365 66,418 At 31 st March 2024 210.267 77,221 27.746 315234 NET BOOK VALUE At 31 st March 2024 655.412 15.248 670.660 At 31 st March 2023 671,028 39,720 28.117 738,865 19. FIXED ASSET INVESTMENTS Llsted Investh)ents MARKET VALUE At 1st April 2023 Additions Disposals Revaluations 1,007,131 569.068 (295.5711 At 31 st March 2024 1.359,809 NET BOOK VALUE At 31st March 2024 1,359 809 At 31st March 2023 1,007,131 20. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other deblors VAT Accrued Income Prepayments 24,252 14.292 54.559 5,418 12,386 77,885 18,193 113,882 P8ge 24 continued..
Age UK Worcestsr, Malvern Hills & Hereford LoGalitles Trading as Age UK Wyvem previously known as Age UK Worcesler and Malvern H1115 Not&s to the Financial Statements - Contlnuod for tho Y8ar Ended 31sl March 2024 21. CURRENT ASSET INVESTMENTS 2024 2023 Cash equivalents on d8POSIt 376.500 372.454 22. CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade creditors Social security and other taxes Pension creditor Other creditors Rent deposits AGcrued expenses Deferred grant income 63,404 20,691 1,519 978 23,950 10,831 807 57,571 11.250 51,358 55,625 193 575 104,409 Deferred grant in¢ome Deferred grant income rel8tes to selvice grants receivable where the delivery of the seNice will not take place until the next financial year. 23. LEASING AGREEMENTS Minimum lease payments under non-cancellable operating leases fall due as follows.. 2024 2023 Within one year Batween one and five years In more than five years 168.339 634.309 165 681 24.800 34.883 968.329 59,683 Page 25 continued...
Age UK Worcester. Malvgm Hlll$ & Hereford Localrties Trading as Age UK Wyvem prevlously known as Age UK Worcester and Malvern Hills Notes to the Flnanclal Statements - contlnued for the Year Ended 31st March 2024 24. MOVEMENT IN FUNDS Nel mDvement in funds Transfer5 between funds At 31.3.24 At 1.4.23 Vnre5tricted funds General fund Fixed Asset Replacement Fund Activities Fund Dgm8ntia Fund FootGare Fund Good Nelghbour Network Fund Handy Person Fund Homeworkers Fund Visiting & Befriending 1AOO.111 75.000 13.952 104.509 62,596 52,731 3,693 132.597 71.989 53.216 442.067 1,895.394 75.000 (13,952) (104.509) (62,596) 152,731) (3.693) 1132.597) 71,989) 1,917,178 53,216 1,970,394 Restricted funds 9a110 Mealtheapen Street Cost of Living Response Fund Digital Inclusion Fund Grief Support Hereford Befriending Household Support Fund 4- Horne Energy Audits Informatton & Advice Fund Shed's T()gethei Social Club Lottery Fund Travelling Companions Fund UK Shared Prosperity Fund Werrnth on Prescription 373.048 10.000 44,333 (8,360) (10.000) (44,333) 9,740 6.674 364,688 9.740 6,674 142.424 34,378 7.977 142A24 56.923 7.977 12,946 22,545 12.946 17.696 (17.696) 35.114 24,986 35.114 24.988 480.568 180 904 661.472 TOTAL FUNDS 2,397.746 234,120 2 631866 Page 26 Jntinued...
Age UK Worcester, Malvern Hills & Heroford Localities Tradlng as Age UK Wyvern previously known as Age UK Worcester and Malvarn Hills Notgs to thg Financlal Statements - continued for the Year Ended 31st March 2024 MOVEMENT IN FUNDS- continuèd Net movement in fvnds, included sn the above are as follows: Incoming resources Resources expended Galns and losses Movement in funds Unrestricted funds General fund 1.275,705 11,301,670) 79,181 53.216 Restrlctsd fvnds 9a110 MealGheapen Street Cost of Living Response Fund Dementia Fund Digital Inclusion Fund Gef Support Hereford Befri8nding Household Support Fund 4- Home Energy Audits Household Support Fund 4 - Pensioners on Low Income Support Information & Advice Fund National Grid Community Matters Fund Shed's Together Travelllng Companions Fund UK Shared Prosperity Fund Warmth on Prescription (8.3601 (55,0001 146,4991 144,3341 (8,360) {10,000) 45,000 46,499 (44,333) 9.740 6,674 9.740 11,376 {4,7021 311,966 (169,5421 142,424 9,474 125,652 1.350 12.797 19.474) 191,2741 {1,3501 (4.820) 117.6961 (134.8861 25 0141 34,378 7,977 117,696) 35,114 170,000 793.855 612,951 180904 TOTAL FUNDS 2,069,560 1.914.621) 234.120 Page 27 conbnued...
Age UK Worcester, Malvern Hllls & Hereford Localities Trading as Age UK Wyvem PTeviously known a5 Age UK Worcester and Malvem Hllls Notes to the Financial Statements - continued for the Year Ended 31st March 2024 24. MOVEMENT IN FUNDS- contlnued Comparatlves for movement In funds Net movement in funds Transfers between fvnds At 31.3.23 At 1.4.22 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 & B&friending 1.210.789 75,000 6.281 97,895 71,017 39.883 43,490 123.368 105.074 71,340 173.539 15,783 1.400,111 75,000 13.952 104,509 62,596 52.731 3.693 132.597 7.671 6.614 {8.421 } 12.848 (39,797) 9,229 {105,0741 4,058 3.409) 71,989 1,844,137 60,667 12,374 1.917.178 Restricted fvnds 9a110 Mealcheapen Street Cost of Living Response Fund Crealsve Friends Fund Dementia Fund Digital Inclusion Fund Infomiation & Advice Fund Men's Shed Fund Social Club Lottery Fund Travelling Companions Fulld Visiting & Befriending Fund 383,119 (8,057) 10.000 12,014) 373,048 10,000 (3.409) 51.422 3.409 {14,000) {37,4221 44.333 1729) (567) 1.442 17,696 5,4861 44.333 22,545 23,274 336 11.504 231 12.946 17.696 5,486 471.732 21,210 12 3741 480,568 TOTAL FUNDS 2,315,869 81,877 2,397.746 Page 28 continued...
Age UK Worcester, Malvern Hills & Hereford Localltles Trading a5 Age UK Wyvern previously known as Age UK Worcester and Malvern Hllls Notes to the Flnanclal Statemgnts - continued for the Year Endgd 31st March 2024 24. MOVEMENT IN FUNDS- ¢ontlnued Comparative net movement in funds, included in the above are as follows: Incorning resources Resources expended Gains and 105ses Movement in funds Unrestri¢ted funds General fund Activities Fund Dementia Fund Footcare Fund Good Neighbour Network Fund Handy Person Fund Homeworkers Fund Information and Advice Fund Visiting & Befriending 987.178 29,937 31.927 20.476 21,764 26.444 27,811 10,209 11,771 1831.6411 {22,2661 {25.3131 {28,8971 (8,9161 {66,2411 (18,5821 {115,2831 7.7131 18,002 173,539 7,671 6,614 18.421) 12,848 139.797) 9.229 {105,074} 4.058 1,167,517 {1,124,8521 18,002 60.667 Restrlcted funds 9a110 Mealcheapen Street Community Matters Fund Cost of Living Response Fund Dementia Fund Digital Inclusion Fund Infomiallon & Advice Fund Men's Shed Fund Social Club Lottery Fund Travelling Companlon8 Fund Visiting & Befriendlng Fund Worcester City Council Crisis Pot 18.0571 (8,2491 18.057) 8,249 10,000 40.000 72,000 13.500 10,000 {37,422) 44.333 1729) 1567) 1,H2 17,696 (5.486) 177,422) {27,667) 114.229) (5671 {154) 138,804) {5,486) 4,894) 1,596 56.500 4,894 206,739 185,5291 21,210 TOTAL FUNDS 1,374.256 1,310,381 18.002 81,877 PURPOSE OF FUNDS - DESIGNATED FUNDS The charity has two types of designated funds. The Fixed A55et Replacemgnt Fund represents a general resetves tund set asid9 as part of the charity's general resetve5 policy, where the exact timing of when this fund will be ulilised is as yet undetenrined. All other designated funds relate to the direct income and expenditure allocated lo specific individual ongoing projects, with the remaining balance on these funds set aside until the rolated projects have concluded such thal rf the tharity should lose funding for these projects the charity can then contlnue 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 seNices to the indiwdual benefiting from these projects. Fixed Asset Replacement Fund This fund is designated for the purpose of funding any major replacement of our vehicles. andlor for funding a move of offices or shops, if neGessary. Activities Fund This fund relates to the regular social activitie5 and events wllh the aim of abolishing social Isolation. Dementla Deslgnatgd Fund This lund relate$ to runnlng group activities designed to support people with early to mld4tage dementia or mernory10sS. Foolcare Fund This fund relates to provlding ragular foot care dinics and home visiting for the charity's clients. Page 29 continued...
Age UK Worcester, Malvem Hills & Hereford Localities Tradlng a5 Age UK Wyvem prevlously known as Age UK Worcester and Malvem Hills Notes to the Flnancl81 Statements - continued for Iha Yoar Endad 31 st March 2024 MOVEMENT IN FUNDS- continued Good Nelghbour Netsvorf( Fund This fund relates to arranging Voluntee to undertake small tssks for individuals over 50. Handyperson Fund This fund is designated to provide the means to employ a handyperson to fit aids and adaptations foi those with mobility issues. to advise on lightiTbg 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. HomewOerS Fund This fund is designated to provide 'Happy Home Workers- to the elderty who need assistance with cleaning, shopping, cooking, dog-WaIn9 etc and other domestic needs in their homes. The workers operate on a selfomployed basis, and donate £3 an hour to us to cover administration costs. Infomiatlon & Advlcg Deslgnated 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. Malvem and District. and Hereford Localities lo improv8 their quality of lrfe. and keep them safe and warm in their own homes. Vve 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 ar8 also contracted for th8 provision5 of I&A services by a local medical practice. Vlsttlng & 8efrlendlng Fund This fund Ss lo identify and contact the house-bound or lonely, and provide them with companionship through the use of volunteers. The only income is deiived from a small number of publiG donations. PURPOSE OF FUNDS- RESTRICTED FUNDS 9a110 Mealchoapen Street This fund relates lo the propety 9a110 Mealcheapen Street, Worcestèr. whlch was funded by the National Lottery Charities Board. Unless otherwise authorised by them, the pmperty cannol 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. Community Mattérs Fund This fund relates to monies received from Westem Power Dislribullon to dellver outreach activities for vulnerable and Isolated people using 8 coffee bus. Cost of Living Response Fund This fund relates to monies received from Age UK {national). to meet urgent need and demand as a result of the Increased cost of living. Creative Friends Fund This ftjnd relates to monies received from the National Lottery Community Fund to fund Creative Friends llltergenerational Art Workshops project. Dementla Fund This fund relates to monies r1Ved from University of Worcester in regards to providing comrnunity support to those suffering from dementia. Digital Inclusion Fund This fund relates to monies receÈved from Age UK Inatsonal} for running the Digital Champion Programme, Grfef Support This fund relates to monies recelved from National Lottery Community Fund for dementla, antlclpatory grief training. Hereford 8efrlendlng This fund relates lo monies r8ceived to fvnd befriending actwiligs in Hereford. P8ge 30 continued...
Age UK Worcester, Malvem Hills & Hereford LOlItIeS Trading as Agg UK ern prevlously known as Age UKWorcesterand Malvern Hills Notes to tho Financial Statements- continued for the Year Ended 31st March 2024 24. MOVEMENT IN FUNDS . continuéd Household Support Fund 4- Home Energy Audits This fvnd relates to monies received from Worcestershire County Council from the Wousehold Support Fund 4 to delivery home energy checks. Household Support Fund 4- Pensioners on Low Income Support This fund relates to monies received frorn Herefortlshire Council from the Household Support Fund 4 to delivery support to IDW-incDme pensioners. Inforn)ation & Advice Fund This fvnd relates to grants received frown Age UK {nalional) and Eveson Trust lo develop irrformation and advice services. Men's Shed Fund This fund relates to monies originally received fmm the Langdale Trust lo fund a project lo support older men who want lo get together, share and learn new skills Natlonal Grld Community Matters Fund This fund relal&s to monies received from National Grid towards Energy Roadshows. Soclal Club Lottery Fund This fund relates to a grant recelved from the SoGial Club Lottery for the deliverance Df a seated dance club for the eldedy. Shed's Togelher This fund relates to monies received for the H&L Shed's Together project, the aim of whiGh is to r8ach out to address the needs of older men In the area who would benefft from a safe, welcoming environment trj meet. so(xalise and sharellaarn nBW skills. Travelling Companlons Fund This fund relate5 to monies rere5ved from Age UK (nalional) to enable older people lo get out and about. UK Shared Prosperity Fund This fund lateS to monies received from Malven Hills District Council, distributed from the UK Shared Prosperity Fund. Vlsltlng & Befriending Fund This fund rtlales lo monies received from Malvem Hills District Council and Independent Age to support reStablishIng face to faco services for older people. Wamith on Prescription Thi5 fund relates to monies received from Worceslershire County Council from the Household Support Fund 4 to support low income and vulnerable families with the increase in the cost of living. specifically focusing on energy and food. Worcester City Council - Crisis Pot This fund relates to monies received from Worcester City Council to support fami5ies and individuals who need immediate support whilst wailing for ferra[S or appointments. TRANSFERS BETWEEN FUNDS During the year £442,067 was transferred from various designated funds to the general unrestricted fund into order io streamline the fund position. Page 31 conflnued...
Ago UK WorGestor, Malvern Hills & Hereford Localities Trading as Age UK Wyvem prevEously known as Age UK Worcester and Malvem Hllls Notes to the Financlal Statements - continued for the Ygar Ended 31st March 2024 25. RELATED PARTY DISCLOSURES There were no related party tr8ns8ctSons for the year ended 31st March 2024. 26. FRC HIcAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTfriES In common with many other charities of our size and nature we use our auditors to assist with the preparation of the ffinanci statemen15. 27. POST BALANCE SHEET EVENTS Slnce the year end. 2 new leases have been slgned resulting in financial commitments withln 1 year of £25.063 and after one year of £268.688. These commithients have also been included in the amour¢ts disclosed in note 23. Furthemore. the Gharity has sold one of its properties for £85.000. On 1st October 2024, the Trustees of Age UK WoriEster, Malvern Hills and Hereford Localities (trading as Age UK Wyvém from 22nd October 2024). agreed to TUPE some of the staff of Age UK Herefordshire & Worcestershire to Age UK Wyvem. These staff members related to the Servic which Age UK Wyvem would take over. The financial effects of this are unknown. In addition, Age UK Wyvem obtained grant contracts, transferred frorn Age UK Herefordshire & Worcestershire, totalling £280,000. Page 32